Document:

HMS 8K Exhibit 10.1 CapOne 2nd Amend

Exhibit 10.1

SECOND AMENDMENT TO CREDIT AGREEMENT 
This Second Amendment to Credit Agreement (the “Second Amendment” or “this Amendment”) is made and entered into effective as of September 22, 2014, by and between HMS INCOME FUND, INC., a Maryland corporation (“Borrower”), CAPITAL ONE, NATIONAL ASSOCIATION, as Administrative Agent (“Administrative Agent”), the Lenders party hereto, including EVERBANK COMMERCIAL FINANCE, INC. (“Additional Lender”), which has become a Lender pursuant to this Amendment and HMS EQUITY HOLDING, LLC, a Delaware limited liability company (“Guarantor”).
RECITALS
WHEREAS, Borrower, Administrative Agent and the Lenders party thereto immediately prior to the effectiveness of this Amendment (the “Existing Lenders”) entered into that certain Senior Secured Revolving Credit Agreement dated as of March 11, 2014 (as supplemented by that certain Joinder and Reaffirmation Agreement dated as of April 15, 2014 (the “Joinder Agreement”), executed by Guarantor for the benefit of Administrative Agent on behalf of the Lenders, as amended by that certain First Amendment to Loan Documents dated as of May 30, 2014 (the “First Amendment”), and as further amended, modified, restated, supplemented, renewed or extended from time to time, the “Credit Agreement”);
WHEREAS, in connection with the Credit Agreement, (a) Borrower and the other grantors party thereto entered into that certain Amended and Restated General Security Agreement dated as of March 11, 2014 in favor of Administrative Agent for itself and for the benefit of the Lenders (as supplemented by the Joinder Agreement, as amended by the First Amendment, and as further amended, modified, restated, supplemented, renewed or extended from time to time, the “Security Agreement”); and (b) Borrower and the pledgors party thereto entered into that certain Amended and Restated Equity Pledge Agreement dated as of March 11, 2014 in favor of Administrative Agent for itself and for the benefit of the Lenders (as supplemented by the Joinder Agreement, as amended by the First Amendment, and as further amended, modified, restated, supplemented, renewed or extended from time to time, the “Pledge Agreement”); and
WHEREAS, Borrower has requested that the Existing Lenders and the Administrative Agent amend certain provisions to the Credit Agreement, and said parties are willing to do so subject to the terms and conditions set forth herein, provided that Borrower and Guarantors ratify and confirm all of their respective obligations under the Credit Agreement and each other Loan Document to which each is a party;
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set forth in this Amendment, Borrower, Guarantor, the Lenders party hereto (including the Additional Lender) and the Administrative Agent agree as follows:
1.Defined Terms.  Unless otherwise defined herein, capitalized terms used herein have the meanings assigned to them in the Credit Agreement.

2.    Amendments to the Credit Agreement.  The Credit Agreement is hereby amended as follows:
(a)    Schedule B to the Credit Agreement is hereby amended and restated in its entirety as set forth on Schedule B attached hereto.
3.    Increase in Commitments; Joinder of Additional Lender.
(a)    Commitment Increase and Notice.  By its execution hereof, Borrower hereby requests (i) an increase in the aggregate Revolver Commitments by the amount of $35,000,000 (from $70,000,000 to $105,000,000) (the “Revolver Increase”), to be effectuated by a $5,000,000 increase in the Revolver Commitment of Patriot Bank (the “Increasing Lender”) and the addition of a $30,000,000 Revolver Commitment from the Additional Lender, (ii) that the Additional Lender join the Credit Agreement as a Lender with a Revolver Commitment of $30,000,000, in each case as set forth on Schedule B hereto and (iii) that the Commitment Increase Date be the date hereof.  
(b)    Consent of Administrative Agent.  By its execution hereof, Administrative Agent consents to (i) the increase in the aggregate Revolver Commitments by the amount of $35,000,000, (ii) the joinder of the Additional Lender as a Lender under the Credit Agreement with a Revolver Commitment of $30,000,000, (iii) the new allocations of the Revolver Commitment as set forth on Schedule B to this Second Amendment, which Schedule B replaces the Schedule B to the Credit Agreement as of the date of the Second Amendment and (iv) the establishment of the date hereof as the Commitment Increase Date.
(c)    Joinder of Additional Lender.  By its execution hereof, Additional Lender hereby joins the Credit Agreement as a Lender and becomes a party to the Credit Agreement with a Revolver Commitment of $30,000,000 as set forth on Schedule B hereto, with all of the duties, obligations, rights and privileges appurtenant thereto, including those specifically set forth in this Amendment.  Additional Lender agrees that this Amendment constitutes the joinder agreement for purposes of Section 2.14(b) the Credit Agreement.  Additional Lender acknowledges that (i) it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to execute this Amendment and join the Credit Agreement as a Lender, and (ii) it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any related agreement or any document furnished hereunder or thereunder.
4.    Acknowledgments of Administrative Agent and Existing Lenders Regarding Commitment Increase.  By their execution hereof, each of the Administrative Agent and each Existing Lender party hereto acknowledges and agrees that:

2

(a)    Section 3(a) of this Amendment shall be deemed to be a requested Commitment Increase from Borrower with respect to the Existing Lender increase and the joinder of Additional Lender to the Credit Agreement all as shown on Schedule B; 
(b)    the Commitment Increase Date shall be the date hereof;
(c)    this Amendment constitutes the joinder agreement for purposes of Section 2.14(b) the Credit Agreement with respect to the joinder of Additional Lender to the Credit Agreement; and
(d)    each Existing Lender waives any rights of such Existing Lender under Section 2.14 of the Credit Agreement to any prior notice of the increase in the aggregate Revolver Commitment, or to participate in the increase in the aggregate Revolver Commitment, in each case, effectuated pursuant this Amendment, except to the extent specifically set forth herein.
5.    Conditions to Effectiveness.  This Amendment shall be effective upon satisfaction of each of the following conditions:
(a)    the Administrative Agent (or its counsel) shall have received from each of Borrower, the Guarantors, the Increasing Lender, the Existing Lenders constituting at least the Required Lenders (determined prior to, and without giving effect to, the Additional Lender having joined the Credit Agreement and the increase in the Revolver Commitments effectuated pursuant to this Amendment) and the Additional Lender, either (a) a counterpart of this Amendment signed on behalf of such party or (b) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Amendment) that such party has signed a counterpart of this Amendment;
(b)    the Administrative Agent shall have received all amounts due and owing, including payment of all other fees and reimbursement or payment of all legal fees and other expenses required to be reimbursed or paid by Borrower to the extent that invoices have been provided to Borrower;
(c)    the Administrative Agent shall have received, for the benefit of the Additional Lender and the Increasing Lender, an executed Note in the amount of such Lender’s Revolver Commitment following the effectiveness of this Amendment; 
(d)    the Administrative Agent shall have received resolutions of the board of directors (or other governing body) of Borrower certified by the Secretary (or other custodian of records) of Borrower which authorize the execution, delivery,  and  performance by Borrower of this Amendment;
(e)    the Administrative Agent shall have received a certificate of the Chief Financial Officer or another Responsible Officer, required pursuant to Section 2.14(d)(i)(D) of the Credit Agreement; and 

3

(f)    the Administrative Agent shall have received all documents and other items that it may reasonably request relating to any other matters relevant hereto, all in form and substance satisfactory to the Administrative Agent.
6.    Representations and Warranties.  Each of the Borrower and each Guarantor represents and warrants as follows:
(a)    it is duly authorized and empowered to execute, deliver and perform this Amendment and all other instruments referred to or mentioned herein to which it is a party, and all action on its part requisite for the due execution, delivery and the performance of this Amendment has been duly and effectively taken;
(b)    after giving effect to this Amendment, the representations and warranties contained in the Credit Agreement, as amended hereby, and any other Loan Documents to which it is a party executed in connection herewith or therewith are true in all material respects on and as of the date hereof as though made on and as of the date hereof, except to the extent that such representation or warranty was made as of a specific date, in which case such representation or warranty was true in all material respects when made;
(c)    after giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default; and
(d)    when duly executed and delivered, each of this Amendment, the Credit Agreement and any other Loan Documents to which it is a party executed in connection herewith or therewith will be legal and binding obligations of it, enforceable in accordance with their respective terms, except as limited by bankruptcy, insolvency or similar laws of general application relating to the enforcement of creditors’ rights and by equitable principles of general application.
7.    Continuing Effect of the Credit Agreement.  This Amendment shall not constitute a waiver of any provision not expressly referred to herein and shall not be construed as a consent to any action on the part of Borrower or Guarantors that would require a waiver or consent of the Lenders or an amendment or modification to any term of the Loan Documents except as expressly stated herein.  Except as expressly modified hereby, the provisions of the Credit Agreement and the Loan Documents are and shall remain in full force and effect.
8.    Ratification.  Borrower and each Guarantor hereby confirm and ratify the Credit Agreement, the Collateral Documents and each of the other Loan Documents to which it is a party, as amended hereby, and acknowledge and agree that the same shall continue in full force and effect, as amended hereby and by any prior amendments thereto.  Nothing in this Amendment extinguishes, novates or releases any right, claim, lien, security interest or entitlement of any of the Lenders or the Administrative Agent created by or contained in any of such documents nor is Borrower or any other Guarantor released from any covenant, warranty or obligation created by or contained herein or therein.

4

9.    Counterparts.  This Amendment may be executed by all parties hereto in any number of separate counterparts each of which may be delivered in original, electronic or facsimile form and all of such counterparts taken together shall be deemed to constitute one and the same instrument.
10.    References.  The words “hereby,” “herein,” “hereinabove,” “hereinafter,” “hereinbelow,” “hereof,” “hereunder” and words of similar import when used in this Amendment shall refer to this Amendment as a whole and not to any particular article, section or provision of this Amendment.  References in this Amendment to an article or section number are to such articles or sections of this Amendment unless otherwise specified.
11.    Headings Descriptive.  The headings of the several sections and subsections of this Amendment are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Amendment.
12.    Governing Law.  This Amendment shall be governed by and construed in accordance with the law of the State of New York, without regard to such state’s conflict of laws rules.
13.    Final Agreement of the Parties.  THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
[Signature Pages Follow]

5

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers to be effective as of the day and year first above written.
BORROWER:
HMS INCOME FUND, INC., 
a Maryland corporation
By:      /s/ Ryan T. Sims     
Name:  Ryan T. Sims
Title:    Chief Financial Officer and Secretary

[Signature Page to Second Amendment to Credit Agreement]

GUARANTORS:
HMS EQUITY HOLDING, LLC, a Delaware limited liability corporation
By:  HMS INCOME FUND, INC., a Maryland corporation, its Managing Member
By:      /s/ Ryan T. Sims     
Name:  Ryan T. Sims 
Title:    Chief Financial Officer and Secretary    

[Signature Page to Second Amendment to Credit Agreement]

ADMINISTRATIVE AGENT AND LENDER:
CAPITAL ONE, NATIONAL ASSOCIATION
By:      /s/ Bobby Hamilton     
Name:  Bobby Hamilton 
Title:    Vice President    

[Signature Page to Second Amendment to Credit Agreement]

LENDER:
PATRIOT BANK
By:      /s/ Bill Holbert     
Name:  Bill Holbert     
Title:    Senior Vice President    

[Signature Page to Second Amendment to Credit Agreement]

LENDER:
WHITNEY BANK
By:      /s/ Wayne L. Mediamolle, II     
Name:  Wayne L. Mediamolle, II     
Title:     Senior Vice President    

[Signature Page to Second Amendment to Credit Agreement]

LENDER:
TRUSTMARK NATIONAL BANK
By:      /s/ Jeff Deutsch     
Name:  Jeff Deutsch 
Title:    Senior Vice President    

[Signature Page to Second Amendment to Credit Agreement]

ADDITIONAL LENDER:
EVERBANK COMMERCIAL FINANCE, INC.
By:      /s/ Ed McGugan     
Name:  Ed McGugan     
Title:    Managing Director    

[Signature Page to Second Amendment to Credit Agreement]

SCHEDULE B
REVOLVER COMMITMENT

	
				
	Lender
	Revolver Commitment

	Capital One, National Association
	

	$35,000,000
	

	Patriot Bank
	

	$20,000,000
	

	Whitney Bank
	

	$10,000,000
	

	Trustmark National Bank
	

	$10,000,000
	

	Everbank Commercial Finance, Inc.
	

	$30,000,000
	

	TOTAL
	

	$105,000,000
	

[Schedule B]EXHIBIT
10.1

 

SHARE
PURCHASE AGREEMENT

 

This
Agreement made as of the 18th day of September, 2014 (“Agreement”), by and between WILLIAM TAY,
with an address at 2000 Hamilton Street, #943, Philadelphia, PA 19130 ("Seller"), NORTHAM ACQUISITION CORP.,
a Delaware corporation (the “Corporation”), of the same address as the Seller, and KERRI
HOLDEN (Purchaser’s Name), with an address at 3995 Hagers Grove Road, Salem, OR
97317 ("Purchaser").

 

W
I T N E S S E T H:

 

WHEREAS,
Seller is the record owner and holder of 31,390,000 Common Shares, par value $.0001 par value (the “Shares”), of NORTHAM
ACQUISITION CORP., a Delaware corporation ("Corporation”), SEC FILE & CIK Numbers: 000-54812 / 0001502628,
respectively, which Corporation has 31,390,000 shares of common stock, issued and outstanding as of the date of this Agreement,
as more fully described in the attached Exhibit A.

 

WHEREAS,
Purchaser desires to purchase 31,390,000 of the Shares from Seller, which constitutes 100% of the Corporation’s
issued and outstanding shares as of the date of this Agreement and Seller desires to sell such Shares upon the terms and conditions
hereinafter set forth;

 

NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained in this Agreement, and in
order to consummate the purchase and sale of the Corporation’s Shares, it is hereby agreed, as follows:

 

1.PURCHASE
AND SALE OF SHARES. Subject to the terms and conditions of this Agreement, Purchaser agrees to purchase at the Closing and
the Seller agrees to sell to Purchaser at the Closing, 31,390,000 of Seller’s Shares for a total price of Sixty-Nine Thousand
Nine Hundred Ninety Dollars and No Cents ($69,990.00) (the “Purchase Price”).

 

2.GOOD
FAITH DEPOSIT. At the signing of this Agreement, Purchaser agrees to wire transfer
to an account to be designated by Seller, the sum of Seven Thousand Dollars and No Cents ($7,000.00) as an initial deposit to
Seller. At the Closing, as defined below, Purchaser will pay the balance of the Purchase Price, Sixty-Two Thousand Nine
Hundred Ninety Dollars and No Cents ($62,990.00) to Seller by wire transfer.

 

3.CLOSING.
The purchase and sale of the Shares shall take place on or before September 24, 2014; at such time and place as the Purchaser
and Seller mutually agree upon orally or in writing (which time and place are designated as the “Closing”). At Closing,
Purchaser shall deliver to Seller, in cash, by wire transfer to an account to be designated by Seller, the balance of the Purchase
Price in the amount of Sixty-Two Thousand Nine Hundred Ninety Dollars and No Cents ($62,990.00), and Seller will immediately deliver
the following to Purchaser: (A) the certificates representing the Shares transferred hereunder, duly endorsed for transfer to
the Purchaser or accompanied by appropriate stock powers, (B) the original of the Certificate of Incorporation and bylaws, (C)
all corporate books and records (including all accounting records and SEC filings to date); and (D) written resignations of incumbent
directors and officers of the Corporation.

 

4.REPRESENTATIONS
AND WARRANTIES OF SELLER. Seller, as sole director and officer of Corporation, hereby represents and warrants to Purchaser
that:

 

		(i)	Corporation
                                                                                                                             is
                                                                                                                             a
                                                                                                                             corporation
                                                                                                                             duly
                                                                                                                             organized
                                                                                                                             and
                                                                                                                             validly
                                                                                                                             existing
                                                                                                                             and
                                                                                                                             in
                                                                                                                             good
                                                                                                                             standing
                                                                                                                             under
                                                                                                                             the
                                                                                                                             laws
                                                                                                                             of
                                                                                                                             the
                                                                                                                             State
                                                                                                                             of
                                                                                                                             Delaware
                                                                                                                             and
                                                                                                                             has
                                                                                                                             the
                                                                                                                             corporate
                                                                                                                             power
                                                                                                                             and
                                                                                                                             authority
                                                                                                                             to
                                                                                                                             carry
                                                                                                                             on
                                                                                                                             the
                                                                                                                             business
                                                                                                                             it
                                                                                                                             is
                                                                                                                             now
                                                                                                                             being
                                                                                                                             conducted.
                                                                                                                             Corporation
                                                                                                                             and/or
                                                                                                                             Seller
                                                                                                                             do
                                                                                                                             not
                                                                                                                             require
                                                                                                                             any
                                                                                                                             consent
                                                                                                                             and/or
                                                                                                                             authorization,
                                                                                                                             declaration
                                                                                                                             or
                                                                                                                             filing
                                                                                                                             with
                                                                                                                             any
                                                                                                                             government
                                                                                                                             or
                                                                                                                             regulatory
                                                                                                                             authority
                                                                                                                             to
                                                                                                                             undertake
                                                                                                                             any
                                                                                                                             actions
                                                                                                                             herein;

		(ii)	Corporation
                                                                                                                              is
                                                                                                                              newly
                                                                                                                              formed
                                                                                                                              with
                                                                                                                              no
                                                                                                                              financial
                                                                                                                              information
                                                                                                                              available
                                                                                                                              other
                                                                                                                              than
                                                                                                                              the
                                                                                                                              financial
                                                                                                                              information
                                                                                                                              included
                                                                                                                              in
                                                                                                                              its
                                                                                                                              SEC
                                                                                                                              filings,
                                                                                                                              or
                                                                                                                              enclosed
                                                                                                                              herein;
                                                                                                                              

		(iii)	There
                                                                                                                               are
                                                                                                                               no
                                                                                                                               legal
                                                                                                                               actions,
                                                                                                                               suits,
                                                                                                                               arbitrations,
                                                                                                                               or
                                                                                                                               other
                                                                                                                               administrative,
                                                                                                                               legal
                                                                                                                               or
                                                                                                                               governmental
                                                                                                                               proceedings
                                                                                                                               threatened
                                                                                                                               or
                                                                                                                               pending
                                                                                                                               against
                                                                                                                               the
                                                                                                                               Corporation
                                                                                                                               and/or
                                                                                                                               Seller
                                                                                                                               or
                                                                                                                               against
                                                                                                                               the
                                                                                                                               Seller
                                                                                                                               or
                                                                                                                               other
                                                                                                                               employee,
                                                                                                                               officer,
                                                                                                                               director
                                                                                                                               or
                                                                                                                               stockholder
                                                                                                                               of
                                                                                                                               Corporation.
                                                                                                                               Additionally,
                                                                                                                               Seller
                                                                                                                               is
                                                                                                                               not
                                                                                                                               aware
                                                                                                                               of
                                                                                                                               any
                                                                                                                               facts
                                                                                                                               which
                                                                                                                               may/might
                                                                                                                               result
                                                                                                                               in
                                                                                                                               or
                                                                                                                               form
                                                                                                                               a
                                                                                                                               basis
                                                                                                                               of
                                                                                                                               such
                                                                                                                               action,
                                                                                                                               suit,
                                                                                                                               arbitration
                                                                                                                               or
                                                                                                                               other
                                                                                                                               proceeding
                                                                                                                               on
                                                                                                                               any
                                                                                                                               basis
                                                                                                                               whatsoever;
                                                                                                                               

		(iv)	The
                                                                                                                              Corporation
                                                                                                                              has
                                                                                                                              no
                                                                                                                              subsidiaries
                                                                                                                              or
                                                                                                                              any
                                                                                                                              direct
                                                                                                                              or
                                                                                                                              indirect
                                                                                                                              ownership
                                                                                                                              interest
                                                                                                                              in
                                                                                                                              any
                                                                                                                              other
                                                                                                                              corporation,
                                                                                                                              partnership,
                                                                                                                              association,
                                                                                                                              firm
                                                                                                                              or
                                                                                                                              business
                                                                                                                              in
                                                                                                                              any
                                                                                                                              manner;

		(v)	The
                                                                                                                             Corporation
                                                                                                                             and/or
                                                                                                                             Seller
                                                                                                                             does
                                                                                                                             not
                                                                                                                             have
                                                                                                                             in
                                                                                                                             effect
                                                                                                                             nor
                                                                                                                             has
                                                                                                                             any
                                                                                                                             present
                                                                                                                             intention
                                                                                                                             to
                                                                                                                             put
                                                                                                                             into
                                                                                                                             effect
                                                                                                                             any
                                                                                                                             employment
                                                                                                                             agreements,
                                                                                                                             deferred
                                                                                                                             compensation,
                                                                                                                             pension
                                                                                                                             retirement
                                                                                                                             agreements
                                                                                                                             or
                                                                                                                             arrangements,
                                                                                                                             options
                                                                                                                             arrangements,
                                                                                                                             bonus,
                                                                                                                             stock
                                                                                                                             purchase
                                                                                                                             agreements,
                                                                                                                             incentive
                                                                                                                             or
                                                                                                                             profit–sharing
                                                                                                                             plans;
                                                                                                                             

		(vi)	No
                                                                                                                              person
                                                                                                                              or
                                                                                                                              firm
                                                                                                                              has,
                                                                                                                              or
                                                                                                                              will
                                                                                                                              have,
                                                                                                                              any
                                                                                                                              right,
                                                                                                                              interest
                                                                                                                              or
                                                                                                                              valid
                                                                                                                              claim
                                                                                                                              against
                                                                                                                              the
                                                                                                                              Corporation
                                                                                                                              for
                                                                                                                              any
                                                                                                                              commission,
                                                                                                                              fee
                                                                                                                              or
                                                                                                                              other
                                                                                                                              compensation
                                                                                                                              in
                                                                                                                              connection
                                                                                                                              with
                                                                                                                              the
                                                                                                                              sale
                                                                                                                              of
                                                                                                                              the
                                                                                                                              Shares
                                                                                                                              herein
                                                                                                                              as
                                                                                                                              a
                                                                                                                              finder
                                                                                                                              or
                                                                                                                              broker
                                                                                                                              or
                                                                                                                              in
                                                                                                                              any
                                                                                                                              similar
                                                                                                                              capacity
                                                                                                                              as
                                                                                                                              a
                                                                                                                              result
                                                                                                                              of
                                                                                                                              any
                                                                                                                              act
                                                                                                                              or
                                                                                                                              omission
                                                                                                                              by
                                                                                                                              the
                                                                                                                              Corporation
                                                                                                                              and/or
                                                                                                                              Seller
                                                                                                                              or
                                                                                                                              anyone
                                                                                                                              acting
                                                                                                                              on
                                                                                                                              behalf
                                                                                                                              of
                                                                                                                              the
                                                                                                                              Corporation
                                                                                                                              and/or
                                                                                                                              Seller;

		(vii)	The
                                                                                                                               business
                                                                                                                               and
                                                                                                                               operation
                                                                                                                               of
                                                                                                                               the
                                                                                                                               Corporation
                                                                                                                               has
                                                                                                                               and
                                                                                                                               will
                                                                                                                               be
                                                                                                                               conducted
                                                                                                                               in
                                                                                                                               accordance
                                                                                                                               with
                                                                                                                               all
                                                                                                                               applicable
                                                                                                                               laws,
                                                                                                                               rules,
                                                                                                                               regulations,
                                                                                                                               judgments.
                                                                                                                               Neither
                                                                                                                               the
                                                                                                                               execution,
                                                                                                                               delivery
                                                                                                                               or
                                                                                                                               performance
                                                                                                                               of
                                                                                                                               this
                                                                                                                               Agreement
                                                                                                                               (A)
                                                                                                                               violates
                                                                                                                               the
                                                                                                                               Corporation’s
                                                                                                                               by-laws,
                                                                                                                               Certificate
                                                                                                                               of
                                                                                                                               Incorporation,
                                                                                                                               Shareholder
                                                                                                                               Agreements
                                                                                                                               or
                                                                                                                               any
                                                                                                                               existing
                                                                                                                               resolutions;
                                                                                                                               and,
                                                                                                                               (B)
                                                                                                                               will
                                                                                                                               cause
                                                                                                                               the
                                                                                                                               Corporation
                                                                                                                               to
                                                                                                                               lose
                                                                                                                               any
                                                                                                                               benefit
                                                                                                                               or
                                                                                                                               any
                                                                                                                               right
                                                                                                                               or
                                                                                                                               privilege
                                                                                                                               it
                                                                                                                               enjoys
                                                                                                                               under
                                                                                                                               the
                                                                                                                               Securities
                                                                                                                               Act
                                                                                                                               (“Act”)
                                                                                                                               or
                                                                                                                               other
                                                                                                                               applicable
                                                                                                                               state
                                                                                                                               securities
                                                                                                                               laws;
                                                                                                                               

		(viii)	Corporation
                                                                                                                                has
                                                                                                                                not
                                                                                                                                conducted
                                                                                                                                any
                                                                                                                                business
                                                                                                                                and/or
                                                                                                                                entered
                                                                                                                                into
                                                                                                                                any
                                                                                                                                agreements
                                                                                                                                with
                                                                                                                                third-parties;
                                                                                                                                

		(ix)	This
                                                                                                                              Agreement
                                                                                                                              has
                                                                                                                              been
                                                                                                                              duly
                                                                                                                              executed
                                                                                                                              and
                                                                                                                              delivered
                                                                                                                              by
                                                                                                                              Seller
                                                                                                                              constitutes
                                                                                                                              a
                                                                                                                              valid
                                                                                                                              and
                                                                                                                              binding
                                                                                                                              instrument,
                                                                                                                              enforceable
                                                                                                                              in
                                                                                                                              accordance
                                                                                                                              with
                                                                                                                              its
                                                                                                                              terms
                                                                                                                              and
                                                                                                                              does
                                                                                                                              not
                                                                                                                              conflict
                                                                                                                              with
                                                                                                                              or
                                                                                                                              result
                                                                                                                              in
                                                                                                                              a
                                                                                                                              breach
                                                                                                                              of
                                                                                                                              or
                                                                                                                              in
                                                                                                                              violation
                                                                                                                              of
                                                                                                                              the
                                                                                                                              terms,
                                                                                                                              conditions
                                                                                                                              or
                                                                                                                              provisions
                                                                                                                              of
                                                                                                                              any
                                                                                                                              agreement,
                                                                                                                              mortgage,
                                                                                                                              lease
                                                                                                                              or
                                                                                                                              other
                                                                                                                              instrument
                                                                                                                              or
                                                                                                                              indenture
                                                                                                                              to
                                                                                                                              which
                                                                                                                              Corporation
                                                                                                                              and/or
                                                                                                                              Seller
                                                                                                                              a
                                                                                                                              party
                                                                                                                              or
                                                                                                                              by
                                                                                                                              which
                                                                                                                              they
                                                                                                                              are
                                                                                                                              bound;
                                                                                                                              

		(x)	Seller
                                                                                                                             is
                                                                                                                             the
                                                                                                                             legal
                                                                                                                             and
                                                                                                                             beneficial
                                                                                                                             owner
                                                                                                                             of
                                                                                                                             the
                                                                                                                             Shares
                                                                                                                             and
                                                                                                                             has
                                                                                                                             good
                                                                                                                             and
                                                                                                                             marketable
                                                                                                                             title
                                                                                                                             thereto,
                                                                                                                             free
                                                                                                                             and
                                                                                                                             clear
                                                                                                                             of
                                                                                                                             any
                                                                                                                             liens,
                                                                                                                             claims,
                                                                                                                             rights
                                                                                                                             and
                                                                                                                             encumbrances;

		(xi)	Seller
                                                                                                                              warrants
                                                                                                                              that
                                                                                                                              the
                                                                                                                              Corporation
                                                                                                                              being
                                                                                                                              transferred
                                                                                                                              shall
                                                                                                                              be
                                                                                                                              transferred
                                                                                                                              with
                                                                                                                              no
                                                                                                                              liabilities
                                                                                                                              and
                                                                                                                              little
                                                                                                                              or
                                                                                                                              no
                                                                                                                              assets,
                                                                                                                              and
                                                                                                                              shall
                                                                                                                              defend
                                                                                                                              and
                                                                                                                              hold
                                                                                                                              Purchaser
                                                                                                                              and
                                                                                                                              the
                                                                                                                              Corporation
                                                                                                                              harmless
                                                                                                                              against
                                                                                                                              any
                                                                                                                              action
                                                                                                                              by
                                                                                                                              any
                                                                                                                              third
                                                                                                                              party
                                                                                                                              against
                                                                                                                              either
                                                                                                                              of
                                                                                                                              them
                                                                                                                              arising
                                                                                                                              out
                                                                                                                              of,
                                                                                                                              or
                                                                                                                              as
                                                                                                                              a
                                                                                                                              consequence
                                                                                                                              of,
                                                                                                                              any
                                                                                                                              act
                                                                                                                              or
                                                                                                                              omission
                                                                                                                              of
                                                                                                                              Seller
                                                                                                                              or
                                                                                                                              the
                                                                                                                              Corporation
                                                                                                                              prior
                                                                                                                              to,
                                                                                                                              or
                                                                                                                              during
                                                                                                                              the
                                                                                                                              closing
                                                                                                                              contemplated
                                                                                                                              by
                                                                                                                              this
                                                                                                                              contract
                                                                                                                              of
                                                                                                                              sale;

		(xii)	Seller
                                                                                                                               will
                                                                                                                               cause
                                                                                                                               all
                                                                                                                               current
                                                                                                                               officers
                                                                                                                               and
                                                                                                                               directors
                                                                                                                               of
                                                                                                                               the
                                                                                                                               Corporation
                                                                                                                               to
                                                                                                                               resign
                                                                                                                               at
                                                                                                                               the
                                                                                                                               Closing;
                                                                                                                               and

		(xiii)	Seller
                                                                                                                                agrees
                                                                                                                                to
                                                                                                                                provide
                                                                                                                                assistance
                                                                                                                                to
                                                                                                                                Purchaser
                                                                                                                                in
                                                                                                                                merging/acquiring
                                                                                                                                a
                                                                                                                                target
                                                                                                                                business
                                                                                                                                of
                                                                                                                                Purchaser’s
                                                                                                                                choice,
                                                                                                                                for
                                                                                                                                the
                                                                                                                                Corporation,
                                                                                                                                and
                                                                                                                                the
                                                                                                                                filing
                                                                                                                                of
                                                                                                                                a
                                                                                                                                Form
                                                                                                                                211
                                                                                                                                to
                                                                                                                                FINRA
                                                                                                                                through
                                                                                                                                a
                                                                                                                                sponsoring
                                                                                                                                market
                                                                                                                                maker,
                                                                                                                                in
                                                                                                                                order
                                                                                                                                to
                                                                                                                                initiate
                                                                                                                                quotation
                                                                                                                                on
                                                                                                                                the
                                                                                                                                OTC-QB/BB
                                                                                                                                for
                                                                                                                                the
                                                                                                                                post-merger
                                                                                                                                stock.

 

5.REPRESENTATIONS
AND WARRANTIES OF PURCHASER. Purchaser hereby represents and warrants to Seller that:

 

		(i)	Purchaser
                                                                                                                             has
                                                                                                                             the
                                                                                                                             power
                                                                                                                             and
                                                                                                                             authority
                                                                                                                             to
                                                                                                                             execute
                                                                                                                             and
                                                                                                                             deliver
                                                                                                                             this
                                                                                                                             Agreement,
                                                                                                                             to
                                                                                                                             perform
                                                                                                                             his
                                                                                                                             obligations
                                                                                                                             hereunder
                                                                                                                             and
                                                                                                                             to
                                                                                                                             consummate
                                                                                                                             the
                                                                                                                             transactions
                                                                                                                             contemplated
                                                                                                                             hereby.
                                                                                                                             This
                                                                                                                             Agreement
                                                                                                                             has
                                                                                                                             been
                                                                                                                             duly
                                                                                                                             executed
                                                                                                                             and
                                                                                                                             delivered
                                                                                                                             by
                                                                                                                             Purchaser
                                                                                                                             and
                                                                                                                             constitutes
                                                                                                                             a
                                                                                                                             valid
                                                                                                                             and
                                                                                                                             binding
                                                                                                                             instrument,
                                                                                                                             enforceable
                                                                                                                             in
                                                                                                                             accordance
                                                                                                                             with
                                                                                                                             its
                                                                                                                             terms;

		(ii)	The
                                                                                                                              execution,
                                                                                                                              delivery
                                                                                                                              and
                                                                                                                              performance
                                                                                                                              of
                                                                                                                              this
                                                                                                                              Agreement
                                                                                                                              is
                                                                                                                              in
                                                                                                                              compliance
                                                                                                                              with
                                                                                                                              and
                                                                                                                              does
                                                                                                                              not
                                                                                                                              conflict
                                                                                                                              with
                                                                                                                              or
                                                                                                                              result
                                                                                                                              in
                                                                                                                              a
                                                                                                                              breach
                                                                                                                              of
                                                                                                                              or
                                                                                                                              in
                                                                                                                              violation
                                                                                                                              of
                                                                                                                              the
                                                                                                                              terms,
                                                                                                                              conditions
                                                                                                                              or
                                                                                                                              provisions
                                                                                                                              of
                                                                                                                              any
                                                                                                                              agreement,
                                                                                                                              mortgage,
                                                                                                                              lease
                                                                                                                              or
                                                                                                                              other
                                                                                                                              instrument
                                                                                                                              or
                                                                                                                              indenture
                                                                                                                              to
                                                                                                                              which
                                                                                                                              Purchaser
                                                                                                                              is
                                                                                                                              a
                                                                                                                              party
                                                                                                                              or
                                                                                                                              by
                                                                                                                              which
                                                                                                                              Purchaser
                                                                                                                              is
                                                                                                                              bound;

		(iii)	At
                                                                                                                               no
                                                                                                                               time
                                                                                                                               was
                                                                                                                               Purchaser
                                                                                                                               presented
                                                                                                                               with
                                                                                                                               or
                                                                                                                               solicited
                                                                                                                               by
                                                                                                                               or
                                                                                                                               through
                                                                                                                               any
                                                                                                                               leaflet,
                                                                                                                               public
                                                                                                                               promotional
                                                                                                                               meeting,
                                                                                                                               television
                                                                                                                               advertisement
                                                                                                                               or
                                                                                                                               any
                                                                                                                               other
                                                                                                                               form
                                                                                                                               of
                                                                                                                               general
                                                                                                                               solicitation
                                                                                                                               or
                                                                                                                               advertising;
                                                                                                                               and,

		(iv)	Purchaser
                                                                                                                              is
                                                                                                                              purchasing
                                                                                                                              the
                                                                                                                              Shares
                                                                                                                              solely
                                                                                                                              for
                                                                                                                              his
                                                                                                                              own
                                                                                                                              account
                                                                                                                              for
                                                                                                                              the
                                                                                                                              purpose
                                                                                                                              of
                                                                                                                              investment
                                                                                                                              and
                                                                                                                              not
                                                                                                                              with
                                                                                                                              a
                                                                                                                              view
                                                                                                                              to,
                                                                                                                              or
                                                                                                                              for
                                                                                                                              sale
                                                                                                                              in
                                                                                                                              connection
                                                                                                                              with,
                                                                                                                              any
                                                                                                                              distribution
                                                                                                                              of
                                                                                                                              any
                                                                                                                              portion
                                                                                                                              thereof
                                                                                                                              in
                                                                                                                              violation
                                                                                                                              of
                                                                                                                              any
                                                                                                                              applicable
                                                                                                                              securities
                                                                                                                              law.

		(v)	The
                                                                                                                             Purchaser
                                                                                                                             is
                                                                                                                             an
                                                                                                                             "accredited
                                                                                                                             investor"
                                                                                                                             as
                                                                                                                             defined
                                                                                                                             under
                                                                                                                             Rule
                                                                                                                             501
                                                                                                                             under
                                                                                                                             the
                                                                                                                             Securities
                                                                                                                             Act.

		(vi)	Purchaser
                                                                                                                              hereby
                                                                                                                              agrees
                                                                                                                              that
                                                                                                                              such
                                                                                                                              shares
                                                                                                                              are
                                                                                                                              restricted
                                                                                                                              pursuant
                                                                                                                              to
                                                                                                                              Rule
                                                                                                                              144
                                                                                                                              and
                                                                                                                              therefore
                                                                                                                              subject
                                                                                                                              to
                                                                                                                              Rule
                                                                                                                              144
                                                                                                                              resale
                                                                                                                              requirements.
                                                                                                                              

 

6.NOTICES.
Notice shall be given by certified mail, return receipt requested, the date of notice being deemed the date of postmarking. Notice,
unless either party has notified the other of an alternative address as provided hereunder, shall be sent to the address as set
forth herein:

 

Seller:

 

William
Tay, President

Northam
Acquisition Corp.

2000
Hamilton Street, #943

Philadelphia,
PA 19130

FAX:
(215) 405-8018

Email:
william.tay@hotmail.com or wtay@56k.net

 

Purchaser:

 

Kerri
Holden

QMC

3995
Hagers Grove Road

Salem,
OR 97317

 

7.GOVERNING
LAW. This Agreement shall be interpreted and governed in accordance with the laws of the State of Delaware. The parties herein
waive trial by jury. In the event that litigation results or arise out of this Agreement or the performance thereof, the parties
agree that the prevailing party is entitled to reimbursement for the non-prevailing party of reasonable attorney’s fee,
costs, expenses, in addition to any other relief to which the prevailing party may be entitled.

 

8.CONDITIONS
TO CLOSING. The Closing is conditioned upon the fulfillment by the Seller of the satisfaction of the representations and warranties
made herein being true and correct in all material respects as of the date of Closing.

 

9.SEVERABILITY.
In the event that any term, covenant, condition, or other provision contained herein is held to be invalid, void or otherwise
unenforceable by any court of competent jurisdiction, the invalidity of any such term, covenant, condition, provision or Agreement
shall in no way affect any other term, covenant, condition or provision or Agreement contained herein, which shall remain in full
force and effect.

 

10.ENTIRE
AGREEMENT. This Agreement contains all of the terms agreed upon by the parties with respect to the subject matter hereof.
This Agreement has been entered into after full investigation.

 

11.INVALIDITY.
If any paragraph of this Agreement shall be held or declared to be void, invalid or illegal, for any reason, by any court of competent
jurisdiction, such provision shall be ineffective but shall not in any way invalidate or effect any other clause, paragraph, section
or part of this Agreement.

 

12.GENDER
AND NUMBER; SECTION HEADINGS. Words importing a particular gender mean and include the other gender and words importing a
singular number mean and include the plural number and vice versa, unless the context clearly indicated to the contrary. The section
and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation
of this Agreement.

 

13.AMENDMENTS.
No amendments or additions to this Agreement shall be binding unless in writing, signed by both parties, except as herein otherwise
provided.

 

14.ASSIGNMENT.
Neither party may assign this Agreement without the express written consent of the other party. Any agreed assignment by the
Seller shall be effectuated by all the necessary corporate authorizations and governmental and/or regulatory filings.

 

15.CLOSING
DOCUMENTS. Seller and Purchaser agree, at any time, to execute, and acknowledge where appropriate, and to deliver any and
all documents/instruments, and take such further action, which may necessary to carry out the terms, conditions, purpose and intentions
of this Agreement. This paragraph shall survive the Closing.

 

16.EXCLUSIVE
AGREEMENT; AMENDMENT. This Agreement supersedes all prior agreements or understandings among the parties with respect to its
subject matter with respect thereto and cannot be changed or terminated orally.

 

17.
FACSIMILE SIGNATURES. Execution of this Agreement and delivery of signed copies thereof by facsimile signatures from
the parties hereto or their agents is acceptable to the parties who waive any objections or defenses based upon lack of an original
signature.

 

18.PUBLICITY.
Except as otherwise required by law, none of the parties hereto shall issue any press release or make any other public statement,
in each case relating to, connected with or arising out of this Agreement or the matters contained herein, without obtaining the
prior approval of the other to the contents and the manner of presentation and publication thereof.

 

IN
WITNESS WHEREOF, and intending to be legally bound, the parties hereto have signed this Agreement by their duly authorized
officers the day and year first above written.

 

 

/S/
KERRI HOLDEN

__________________________________________________

KERRI
HOLDEN

(PURCHASER)

 

 

 

NORTHAM
ACQUISITION CORP.

A
DELAWARE CORPORATION

 

/S/
WILLIAM TAY

__________________________________________________

NAME:
WILLIAM TAY

TITLE:
PRESIDENT, CEO AND DIRECTOR

 

 

/S/
WILLIAM TAY

__________________________________________________

WILLIAM
TAY

(SELLER)

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