Document:

EX-10.08 VICIS SUBORDINATED NOTE DATED SEPT. 23,20

EXHIBIT 10.08

THE SECURITY REPRESENTED HEREBY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”). THIS SECURITY CANNOT BE SOLD OR OTHERWISE TRANSFERRED UNLESS THIS SECURITY IS
REGISTERED UNDER THE ACT OR THE COMPANY IS FURNISHED WITH AN ACCEPTABLE OPINION OF COUNSEL THAT AN
EXEMPTION FROM REGISTRATION IS AVAILABLE.

THIS NOTE AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBORDINATE IN THE MANNER AND TO THE EXTENT SET
FORTH IN THAT CERTAIN SUBORDINATION AGREEMENT (THE “SUBORDINATION AGREEMENT”) DATED AS OF THE DATE
HEREOF AMONG THE BORROWERS, VICIS CAPITAL MASTER FUND, AND CHATHAM CREDIT MANAGEMENT III, LLC TO
THE SENIOR INDEBTEDNESS (AS SUCH TERM IS DEFINED IN THE SUBORDINATION AGREEMENT); AND EACH HOLDER
OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, SHALL BE BOUND BY THE PROVISIONS OF THE SUBORDINATION
AGREEMENT.

SUBORDINATED PROMISSORY NOTE

			
	 	 	 
	U.S. $1,500,000.00
	 	September 23, 2008
	 
	 	Tampa, FL

     FOR VALUE RECEIVED, Brookside Technology Holdings Corp. (“Borrower”) hereby unconditionally
promises to pay to the order of Vicis Capital Master Fund (the “Holder”) the principal sum of One
Million Five Hundred Thousand and No/100 DOLLARS ($1,500,000.00) in lawful money of the United
States of America and in immediately available funds on the later of (i) April 15, 2010; or (ii)
fifteen (15) days after the Borrower delivers a copy of its audit report for the fiscal year ended
2009 to Chatham Credit Management III, LLC (the “Maturity Date”) plus interest as described
herein. This Note has been executed and delivered pursuant to the Securities Purchase and
Conversion Agreement dated as of September 23, 2008 (the “Purchase Agreement”) by and among
the Borrower and Holder. Capitalized terms used and not otherwise defined herein shall have the
meanings ascribed to such terms in the Purchase Agreement.

     1) Interest. The unpaid principal evidenced by this Note shall bear interest at a
rate per annum equal to 10%. Interest shall accrue from the date hereof on the unpaid portion of
the principal amount from time to time outstanding and shall be due and payable on the Maturity
Date. Interest on amounts evidenced by this Note shall be computed on the basis of a 360-day year
of twelve 30-day months and paid for actual days elapsed.

     2) Default. Events of Default. The occurrence and continuance of any of the
following events shall constitute an event of default under this Agreement (each, an “Event of
Default” and, collectively, “Events of Default”):

 

 

          a) if the Borrower shall default in the payment of principal or interest when the same shall
become due and payable; and in each case such default shall have continued without cure for ten
(10) days after written notice (a “Default Notice”) is given to the Borrower of such default;

          b) the Borrower’s notice to the Holder, including by way of public announcement, at any time,
of its inability to comply for any reason or its intention not to comply with proper requests for
issuance of, or its failure to timely deliver, Conversion Shares upon conversion of Acquired
Shares;

          c) if the Borrower shall default in the performance of any covenant contained in the Purchase
Agreement or Transaction Documents and such default; (i) shall not have been remedied to the
satisfaction of the Holder within thirty-five (35) days after a Default Notice shall have been
given to the Borrower; or (ii) shall have materially adversely affected the Holder regardless of
any action taken by the Borrower to cure such default;

          d) if any of the Borrower or its subsidiaries shall default in the observance or performance
of any term or provision of a material agreement to which it is a party or by which it is bound,
which default will have a Material Adverse Effect and such default is not waived or cured within
the applicable grace period provided for in such agreement;

          e) if any representation or warranty made in the Purchase Agreement, any Transaction Document
or in or any certificate delivered by the Borrower or its subsidiaries pursuant hereto or thereto
shall prove to have been incorrect in any material respect when made;

          f) the Borrower shall (i) default in any payment of any amount or amounts of principal of or
interest on any Indebtedness and the aggregate principal amount of which Indebtedness is in excess
of $250,000 or (ii) default in the observance or performance of any other agreement or condition
relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing
or relating thereto, or any other event shall occur or condition exist, the effect of which default
or other event or condition is to cause, or to permit the holder or holders or beneficiary or
beneficiaries of such Indebtedness to cause with the giving of notice if required, such
Indebtedness to become due prior to its stated maturity;

          g) if a final judgment which, either alone or together with other outstanding final judgments
against the Borrower and its subsidiaries, exceeds an aggregate of $250,000 shall be rendered
against the Borrower or any subsidiary and such judgment shall have continued undischarged or
unstayed for thirty-five (35) days after entry thereof;

          h) the Borrower or any of its subsidiaries shall (i) apply for or consent to the appointment
of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of
all or a substantial part of its property or assets, (ii) make a general assignment for the benefit
of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code (as now
or hereafter in effect) or under the comparable laws of any jurisdiction (foreign or domestic),
(iv) file a petition seeking to take advantage of any bankruptcy, insolvency, moratorium,
reorganization or other similar law affecting the enforcement of creditors’ rights generally, (v)
acquiesce in writing to any petition filed against it in an involuntary case under United States Bankruptcy Code (as
now or

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hereafter in effect) or under the comparable laws of any jurisdiction (foreign or domestic),
or admit in writing its inability to pay its debts (vi) issue a notice of bankruptcy or winding
down of its operations or issue a press release regarding same, or (vii) take any action under the
laws of any jurisdiction (foreign or domestic) analogous to any of the foregoing;

          i) a proceeding or case shall be commenced in respect of the Borrower or any of its
subsidiaries, without its application or consent, in any court of competent jurisdiction, seeking
(i) the liquidation, reorganization, moratorium, dissolution, winding up, or composition or
readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or
the like of it or of all or any substantial part of its assets in connection with the liquidation
or dissolution of the Company or any of its subsidiaries or (iii) similar relief in respect of it
under any law providing for the relief of debtors, and such proceeding or case described in clause
(i), (ii) or (iii) shall continue undismissed, or unstayed and in effect, for a period of sixty
(60) days or any order for relief shall be entered in an involuntary case under United States
Bankruptcy Code (as now or hereafter in effect) or under the comparable laws of any jurisdiction
(foreign or domestic) against the Company or any of its subsidiaries or action under the laws of
any jurisdiction (foreign or domestic) analogous to any of the foregoing shall be taken with
respect to the Company or any of its subsidiaries and shall continue undismissed, or unstayed and
in effect for a period of sixty (60) days; or

          j) failure by Borrower to deliver a copy of its audit report for the fiscal year ended 2009 to
Chatham Credit Management III, LLC by March 31, 2010.

     3) Remedies. 

          a) Upon the occurrence and continuance of an Event of Default, the Holder may at any time at
its option, by written notice or notices to the Borrower, immediately declare all amounts then
remaining unpaid on this Note to be immediately due and payable.

          b) After an Event of Default and acceleration of the Maturity Date by the Holder, the interest
rate set forth in Section 1 hereof shall be adjusted to a rate of eighteen percent (18%) per annum,
subject to the limitations of applicable law

          c) The Holder, by written notice or notices to the Borrower, may in its own discretion waive
an Event of Default and its consequences and rescind or annul such declaration; provided that, no
such waiver shall extend to or affect any subsequent Event of Default or impair any right resulting
therefrom.

          d) In case any one or more Events of Default shall occur and be continuing, the Holder may
proceed to protect and enforce its rights by an action at law, suit in equity or other appropriate
proceeding, whether for the specific performance of any agreement contained herein or in any
Transaction Document or for an injunction against a violation of any of the terms hereof or
thereof, or in aid of the exercise of any power granted hereby or thereby or by law.

          e) Any remedy conferred by this Section shall not be exclusive of any other remedy provided by
any Transaction Document or now or hereafter available at law, in equity, by statute or otherwise.

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          f) The Borrower understands that a failure to deliver the audit report by March 31, 2010 as
required by Section 2(j) hereof will result in economic loss to the Holder, which loss will be
difficult to quantify. Therefore, the Borrower agrees that after an Event of Default specified in
Section 2(j) hereof, the Borrower shall pay to Holder a cash amount, as liquidated damages and not
as a penalty, equal to two percent (2.0%) of the principal amount outstanding under this Note for
each calendar month or portion thereof from January 1, 2010 until the date all amounts owning under
this Note are paid in full.

     4) Prepayment. Borrower may prepay all or part of the indebtedness evidenced by this
Note at any time without penalty. Permitted partial prepayments shall not affect or vary the duty
of Borrower to pay all obligations when due and shall not impair the right of Holder to pursue all
remedies available to it hereunder.

     5) Successors and Assigns. Any reference to the Holder hereof shall be deemed to
include the successors and assigns of such Holder, and all covenants, promises, and agreements by
or on behalf of the Borrower that are contained in this Note shall bind and inure to the benefit of
the successors and assigns of such Holder and to any future holders of this Note, whether or not
such persons expressly become parties hereto or thereto.

     6) Waivers. The Borrower and all other persons or entities now or at any time liable,
whether primarily or secondarily, for the payment of the indebtedness hereby evidenced, for
themselves, their heirs, legal representatives, successors and assigns, respectively, hereby (a)
expressly and irrevocably waive notice of acceptance, presentment, notice of nonpayment, protest,
notice of protest, suit and all other conditions precedent in connection with the delivery,
acceptance, collection and/or enforcement of this Note or any collateral or security therefor; (b)
agree that the Holder, in order to enforce payment of this Note, shall not be required first to
institute any suit or to exhaust any of its remedies against the undersigned or any person or party
to become liable hereunder; and (c) expressly and irrevocably waive the right to interpose
counterclaims or set-offs of any kind and description in any litigation arising hereunder.

     7) Controlling Law. This Note and all matters related hereto shall be governed,
construed and interpreted strictly in accordance with the laws of the State of Florida, without
regard to its principles of conflicts of law.

     8) TIME IS OF THE ESSENCE OF THIS NOTE.

     9) Modifications; Waivers. No act of omission or commission of the Holder, including
specifically any failure to exercise any right, remedy or recourse, shall be deemed to be a waiver
or release of the same, such waiver or release to be effected only through a written document
executed by the Holder and then only to extent specifically recited therein. A waiver or release
with reference to any one event shall not be construed as continuing, as a bar to, or as a waiver
or release
of any subsequent right, remedy or recourse as to a subsequent event. This Note may not be
changed orally, but only by agreement in writing, signed by the party against whom enforcement of
any waiver, change, modification or discharge is sought.

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     10) WAIVER OF JURY TRIAL. BORROWER AND HOLDER HEREBY KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVE ANY AND ALL RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION (INCLUDING, BUT NOT LIMITED TO, ANY CLAIMS, CROSSCLAIMS OR THIRD-PARTY CLAIMS) ARISING
OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE. BORROWER HEREBY CERTIFIES THAT NO REPRESENTATIVE OR
AGENT OF HOLDER OR HOLDER’S COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT HOLDER WOULD NOT,
IN THE EVENT OF SUCH LITIGATION, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION.
BORROWER ACKNOWLEDGES THAT THE HOLDER HAS BEEN INDUCED TO LOAN FUNDS IN THE AMOUNT OF THE PRINCIPAL
AMOUNT TO BORROWER BY, AMONG OTHER THINGS, THE PROVISIONS OF THIS PARAGRAPH.

     11) Transfer. This Note may be transferred or sold, or pledged, hypothecated or
otherwise granted as security by the Holder.

     12) Collection Costs. Should all or any part of the indebtedness represented by this
Note be collected by action at law, or in bankruptcy, insolvency, receivership or other court
proceedings, or should this Note be placed in the hands of attorneys for collection after default,
the Borrower hereby promises to pay to the Holder, upon demand by the Holder at any time, in
addition to the outstanding principal and all (if any) other amounts payable on or in respect of
this Note, all court costs and reasonable attorneys’ fees and other collection charges and expenses
incurred or sustained by the Holder.

     13) Rights Not Exclusive. No right conferred by this Note or by any Transaction
Document upon the Holder shall be exclusive of any other right referred to herein or therein or now
available at law in equity, by statute or otherwise.

     14) Issue Taxes. The Borrower shall pay any and all issue, stamp, documentary and
other taxes, excluding federal, state or local income taxes, that may be payable in respect of the
issuance or delivery of this Note, or that may be required to be paid in order to enforce the
Borrower’s obligations under this Note.

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IN WITNESS WHEREOF, the undersigned has caused this Note to be executed and its seal affixed on the
day and year first above written.

	 	 	 	 	 	 
	 	 	Brookside Technology Holdings Corp.	 
	 
	 	 	 	 	 
	 

	 	By:	 	 	 
	 

	 	 	 	 	 
	 

	 	Name: Michael Nole	 
	 

	 	Title: Chief Executive Officer	 

6EX-10.1 Purchase Agreement

EQUITY ONE, INC.

COMMON STOCK PURCHASE AGREEMENT

     This Common Stock Purchase Agreement (the “Agreement”) is entered into as of September 23,
2008, by and between Equity One, Inc., a Maryland corporation (the “Company”), and MGN America,
LLC, a Delaware limited liability company (the “Purchaser”).

RECITALS

     WHEREAS, the Purchaser desires to purchase shares of the Company’s common stock, par value
$.01 per share (“Common Stock”), such purchase to be made in a private placement the closing of
which is to occur substantially simultaneously with the closing of the public offering (the
“Closing”) by the Company pursuant to an underwriting agreement between the Company and Merrill
Lynch & Co., Inc. to be dated on or about September 23, 2008 (the “Underwriting Agreement”);

     WHEREAS, the Company desires to issue and sell the Shares (as defined below) to the Purchaser
on the terms and conditions set forth herein to fund its corporate purposes.

     NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter
set forth, the parties hereto agree as follows:

     1. Agreement to Sell and Purchase. Subject to the terms and conditions hereof, the
Company hereby agrees to issue and sell to the Purchaser and the Purchaser agrees to purchase from
the Company, at the Closing, 440,000 shares of Common Stock (the “Shares”) at a purchase price
equal to the gross price to the public at which shares of Common Stock are to be offered by the
underwriters in the public offering contemplated by the Underwriting Agreement (the “Purchase
Price”).

     2. Closing, Delivery and Payment. (a) Subject to the terms of Section 5 hereof, the
closing of the sale and purchase of the Shares under this Agreement (the “Private Closing”) shall
take place substantially simultaneously with the Closing pursuant to the Underwriting Agreement
(the date of such closing shall be referred to herein as the “Closing Date”).

          (b) At the Private Closing, subject to the terms and conditions hereof, the Company will
deliver to the Purchaser a certificate representing the Shares against payment by or on behalf of
the Purchaser of the aggregate Purchase Price for the Shares by wire transfer to an account
designated by the Company, or by such other means as shall be mutually agreeable to Purchaser and
the Company. The Closing shall take place at the offices of the Company or by mail or email
facilities or such other place or means as the Company and the Purchaser may agree.

     3. Representations and Warranties of the Company. The Company represents and warrants
to the Purchaser that, as of the date hereof, the representations and warranties set forth in the
Underwriting Agreement are true and correct to the extent set forth therein, and

 

 

incorporated by reference in their entirety herein. The Company hereby additionally
represents and warrants to each Purchaser as of the date hereof as follows:

          3.1 Organization, Good Standing and Qualification. The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of Maryland. The
Company has full power and authority to own and operate its properties and assets, and to carry on
its business as presently conducted. The Company is duly qualified, is authorized to do business
and is in good standing as a foreign corporation in all jurisdictions in which the nature of its
activities and of its properties (both owned and leased) makes such qualification necessary, except
for those jurisdictions, in the aggregate, in which failure to do so would not have a material
adverse effect on the business, financial condition or results of operations of the Company and its
subsidiaries taken as a whole.

          3.2 Authorization; Binding Obligations. All corporate action on the part of the
Company, its officers, directors and stockholders necessary for the authorization, execution and
delivery of this Agreement for the sale and issuance of the Shares pursuant hereto and for the
performance of the Company’s obligations hereunder and the Registration Rights Agreement of even
date herewith (the “Registration Rights Agreement”) has been taken or will be taken prior to the
Private Closing. Each of this Agreement and the Registration Rights Agreement, when executed and
delivered, will be a valid and binding obligation of the Company enforceable in accordance with its
terms, subject to bankruptcy, insolvency, moratorium, and other laws affecting creditors’ rights
generally and subject further to general principles of equity. At the time of the Closing, the
sale of the Shares will not be subject to any preemptive rights or rights of first refusal that
have not been properly waived or complied with. When issued in compliance with the provisions of
this Agreement, the Shares will be validly issued, fully paid and nonassessable, and will be free
of any liens, claims, encumbrances or other restrictions other than restrictions on transfer under
this Agreement, the Company’s amended and restated Charter, as amended from time to time, and under
state and/or federal securities laws as set forth herein or as otherwise required by such laws at
the time a transfer is proposed or any liens, claims, encumbrances or other restrictions entered
into by the Purchaser.

          3.3 Compliance With Other Instruments. The execution, delivery and performance of and
compliance with this Agreement and the Registration Rights Agreement and the issuance and sale of
the Shares pursuant hereto will not (i) materially conflict with, or result in a material breach or
violation of, or constitute a material default under, or result in the creation or imposition of
any material lien, claim, encumbrance or restriction, (ii) violate, conflict with or result in the
breach of any material terms of, or result in the material modification of, any material contract
or otherwise give any other contracting party the right to terminate a material contract, or
constitute (or with notice or lapse of time both constitute) a material default under any material
contract to which the Company is a party or by or to which it or any of its assets or properties
may be bound or subject or (iii) result in any violation, or be in conflict with or constitute a
default under any term, of its charter or bylaws, which in any such case could reasonably be
expected to have a material adverse effect on the Company, its financial condition or results of
operation.

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     4. Representations and Warranties of the Purchaser.

     The Purchaser hereby represents and warrants to the Company as follows:

          4.1 Requisite Power and Authority. The Purchaser has all necessary power and
authority under all applicable provisions of law to execute and deliver this Agreement and the
Registration Rights Agreement and to carry out the provisions of this Agreement and the
Registration Rights Agreement. All action on the Purchaser’s part required for the lawful
execution and delivery of this Agreement and the Registration Rights Agreement has been or will be
effectively taken prior to the Private Closing. Each of this Agreement and the Registration Rights
Agreement, when executed and delivered, will be a valid and binding obligation of the Purchaser,
enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other laws of general application affecting enforcement
of creditors’ rights and (ii) general principles of equity that restrict the availability of
equitable remedies.

          4.2 Investment Representations. The Purchaser understands that the Shares have not
been registered under the Securities Act. The Purchaser also understands that the Shares are being
offered and sold pursuant to an exemption from registration contained in the Securities Act based
in part upon the Purchaser’s representations and warranties as follows:

               (a) Purchaser is an Accredited Purchaser. The Purchaser represents that the Purchaser
is an “accredited investor” within the meaning of Rule 501(a) of Regulation D under the Securities
Act or a “qualified institutional buyer” within the meaning of Rule 144A(a)(1) under the Securities
Act.

               (b) Purchaser Bears Economic Risk. The Purchaser must bear the economic risk of this
investment indefinitely unless the Shares are registered pursuant to the Securities Act, or an
exemption from registration is available. The Purchaser understands that it will have no
registration rights with respect to its Shares except as set forth in the Registration Rights
Agreement. The Purchaser also understands that there is no assurance that any exemption from
registration under the Securities Act will be available and that, even if available, such exemption
may not allow the Purchaser to transfer all or any portion of its Shares under the circumstances,
in the amounts or at the times the Purchaser might propose.

               (c) Acquisition For Own Account. The Purchaser is acquiring the Shares for the
Purchaser’s own account for investment only, and not with a view towards their distribution within
the meaning of the Securities Act.

               (d) Purchaser Can Protect Its Interests. The Purchaser represents that by reason of
its, or of its management’s, business or financial experience, the Purchaser has the capacity to
evaluate its investment in the Shares and the transactions contemplated in this Agreement. The
Purchaser is not a corporation, trust or partnership specifically formed for the purpose of
consummating these transactions.

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               (e) Company Information. The Purchaser has had an opportunity to discuss the
Company’s business, management and financial affairs with directors, officers and management of the
Company and has had the opportunity to review the Company’s operations and facilities. The
Purchaser has also had the opportunity to ask questions of and receive answers from, the Company
and its management regarding the terms and conditions of this investment.

          4.3 Legends. The certificate representing the Shares may be endorsed with the
following legend:

“The securities represented by this certificate have not been
registered under the Securities Act of 1933, as amended (the “Act”),
and are “restricted securities” as defined in Rule 144 promulgated
under the Act. The securities may not be sold or offered for sale
or otherwise distributed except (i) in conjunction with an effective
registration statement for the shares under the Act, or (ii) in
compliance with Rule 144 or (iii) pursuant to an opinion of counsel
to the corporation that such registration or compliance is not
required as to such sale, offer or distribution.”

     Except as set forth it the Registration Rights Agreement, the Company need not register a
transfer of any Shares, and may also instruct its transfer agent not to register the transfer of
any Shares, unless the conditions specified in the foregoing legend are satisfied.

          4.4 Removal of Legend and Transfer Restrictions. Any legend endorsed on a certificate
pursuant to subsection 4.3 and the stop transfer instructions with respect to such Shares shall be
removed and the Company shall issue a certificate without such legend to the holder thereof if such
legend may be properly removed under the terms of Rule 144 promulgated under the Securities Act or
if such holder provides the Company with an opinion of counsel for such holder, reasonably
satisfactory to legal counsel for the Company, to the effect that a sale, transfer or assignment of
such Shares may be made without registration.

     5. Conditions to Closing. The Purchaser’s obligation to purchase and the Company’s
obligation to sell the Shares shall be subject to the condition that the Closing under
Underwriting Agreement occur substantially simultaneously therewith.

     6. Rule 144 Reporting.

     With a view to making available to each Purchaser the benefits of certain rules and
regulations of the Commission which may permit the sale of the Shares to the public without
registration, the Company agrees at all times after the Closing to:

               (a) make and keep public information available, as those terms are understood and defined in
Rule 144 under the Securities Act (“Rule 144”);

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               (b) file with the Commission in a timely manner all reports and other documents required of
the Company under the Securities Act and the Securities Exchange Act of 1934, as amended (the
“Exchange Act”); and

               (c) so long as the Purchaser owns any Shares, to furnish to the Purchaser within a reasonable
time upon a written request by the Purchaser, a written statement by the Company as to its
compliance with the reporting requirements of Rule 144 and of the Exchange Act, a copy of the most
recent annual or quarterly report of the Company, and such other reports and documents so filed by
the Company as the Purchaser may reasonably request in complying with any rule or regulation of the
Commission allowing the Purchaser to sell any such securities without registration and shall cause
its counsel promptly to provide appropriate legal opinions to the Company’s transfer agent in
connection with a proper sale of Shares pursuant Rule 144.

     7. Miscellaneous.

          7.1 Governing Law. This Agreement shall be governed in all respects by the laws of
the State of Florida without regard to the principles of conflict of laws thereof that would cause
the laws of another jurisdiction to apply.

          7.2 Survival. The representations, warranties, covenants and agreements made herein
shall survive any investigation made by the Purchaser and the closing of the transactions
contemplated hereby. All statements as to factual matters contained in any certificate or other
instrument delivered by or on behalf of the Company pursuant hereto in connection with the
transactions contemplated hereby shall be deemed to be representations and warranties by the
Company hereunder solely as of the date of such certificate or instrument, except as expressly
provided otherwise in such certificate or instrument.

          7.3 Successors and Assigns. This Agreement and the rights granted hereunder may not
be assigned, sold, transferred, pledged, hypothecated or otherwise disposed. The Company agrees
that Shares may be pledged by the Purchaser to a bona fide third party pledgee, subject to
satisfaction of the conditions specified in the legend set forth in Section 4.3 hereof and the
terms and conditions of any lock up or similar agreement executed by the Purchaser in connection
with the public offering contemplated by the Underwriting Agreement. This Agreement shall be
binding upon and inure to the benefit of the Company, the Purchaser and their respective successors
and permitted assigns.

          7.4 Severability. In case any provision of this Agreement shall be invalid, illegal
or unenforceable, such provision shall, to the extent practicable, be modified so as to make it
valid, legal and enforceable and to maintain as nearly as practicable the intent of the parties,
and the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby.

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          7.5 Amendment and Waiver.

               (a) Any amendment of this Agreement shall only be binding upon the parties hereto executing
such amendment.

               (b) The obligations of the Company and the Purchaser under this Agreement may be waived only
with the written consent of the parties hereto to whom such obligations are owed.

               (c) Except to the extent provided in this Section 7.5, neither this Agreement nor any
provision hereof may be changed, waived, discharged or terminated, except by a statement in writing
signed by the party against which enforcement of the change, waiver, discharge or termination is
sought.

               (d) Any amendment or waiver effected in accordance with this Section 7.5 shall be binding upon
any future holder of some or all of the Shares.

          7.6 Notices. All notices and other communications required or permitted hereunder
shall be in writing and shall be deemed effectively given and received (a) upon personal delivery,
(b) on the fifth day following mailing sent by registered or certified mail, return receipt
requested, postage prepaid, (c) upon confirmed delivery by means of a nationally recognized
overnight courier service or (d) upon confirmed transmission of facsimile addressed: (i) if to the
Purchaser, at the Purchaser’s address as set forth on the signature page hereto, or at such other
address as the Purchaser shall have furnished to the Company in writing or (ii) if to the Company,
at its address as set forth on the signature page hereto, or at such other address as the Company
shall have furnished to Purchaser in writing.

          7.7 Expenses. The Company shall pay all costs and expenses that it incurs with
respect to the negotiation, execution, delivery and performance of this Agreement, and the
Purchaser shall pay all costs and expenses that it incurs with respect to the negotiation,
execution, delivery and performance of this Agreement.

          7.8 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this
Agreement are for convenience of reference only and are not to be considered in construing this
Agreement.

          7.9 Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, but all of which together shall constitute one instrument and
which may be delivered by telecopy or email.

          7.10 Broker’s Fees. Each party hereto represents and warrants that no agent, broker,
investment banker, person or firm acting on behalf of or under the authority of such party hereto
is or will be entitled to any broker’s or finder’s fee or any other commission directly or
indirectly in connection with the transactions contemplated herein. Each party hereto further
agrees to indemnify each other party for any claims, losses or expenses incurred by such other
party as a result of the representation in this Section 7.10 being untrue.

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          7.11 Termination. This Agreement shall terminate upon any valid termination of the
Underwriting Agreement.

          7.12 Subsequent, Consents, Permits and Waivers. The Company shall obtain promptly
after any Closing all authorizations, approvals, consents, permits and waivers that are necessary
or applicable for consummation of the transactions contemplated by this Agreement and that were not
obtained prior to such Closing because they may be properly obtained subsequent to such Closing.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth
in the first paragraph hereof.

	 	 	 	 	 
	 	Company:

   Equity One, Inc.

 	 
	 	   By:  	/s/ Arthur L. Gallagher
 	 
	 	 	Name:  	Arthur L. Gallagher 	 
	 	 	Title:  	Executive Vice President,

General Counsel and Secretary 	 
	 
	 	 	Address:  	1600 NE Miami Gardens Drive
North Miami Beach, Florida 33179

 	 
	 	Purchaser:

   MGN America LLC

 	 
	 	   By:  	/s/ Chaim Katzman
 	 
	 	 	Name:  	Chaim Katzman 	 
	 	 	Its Manager
	 
	 
	 	 	Address:  	1696 NE Miami Gardens Drive
North Miami Beach, Florida 33179

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