Document:

Exhibit 10.4

 

STOCK PURCHASE AGREEMENT

 

Stock Purchase Agreement
(the "Agreement") dated May 28, 2021 by and between, DAVID CICALESE (the "Seller"), and GAIL
LEVY (the "Purchaser").

 

WHEREAS, Seller is the
owner of 30,020,000 shares of common stock of Ficaar, Inc., a Georgia corporation (the "Company"); and

 

WHEREAS, Purchaser wishes
to buy 29,900,000 of the shares of common stock of the Company (the “Seller Stock”) from Seller and Seller wishes to
convey the Seller Stock to Purchaser, all upon the terms and subject to the conditions herein set forth.

 

NOW,
THEREFORE, in order to implement the foregoing and in consideration of the mutual agreements contained herein, the parties hereto
agree as follows:

 

I.       Purchase
and Sale of the Seller Stock.

 

1.1       Agreement
to Purchase and Sell. Subject to the terms and on the conditions hereinafter set forth, Purchaser hereby agrees to purchase the
Seller Stock from Seller for the aggregate consideration of Fifty Thousand Dollars ($50,000.00) (the "Purchase Price"),
to be paid at the Closing (hereinafter defined).

 

1.2       Closing
of the Purchase. The closing of the purchase and sale of the Seller Stock (the "Closing") shall be deemed to
take place at the offices of Purchaser, on May 19, 2021 or at the earliest date of the completion of the events as set forth in the following
sentence. At the Closing: (i) Seller will cause Seller Stock to be delivered to Purchaser in certificate form, or as otherwise directed
by the Purchaser; and (ii) upon receipt of the Seller Stock, Purchaser shall deliver to Seller the Purchase Price by wire transfer, as
follows:

 

	Beneficiary Account Name:	David Cicalese
	Beneficiary Account No.:	000000997051958
	ABA/Transit No:	021000021
	
    Beneficiary Bank:

    Swift Code
	
    Chase Bank

    Chasus33

 

II.       Representations
and Warranties of Seller.

 

Seller
hereby represents and warrants that:

 

2.1       Due
Authorization. Seller has all requisite legal capacity to execute, deliver and perform this Agreement and the transactions hereby
contemplated. This Agreement constitutes a valid and binding agreement on the part of Seller and is enforceable against Seller in accordance
with its terms.

 

2.2       No
Consents; No Contravention. The execution, delivery and performance by Seller of this Agreement (i) require no authorization,
registration, consent, approval or action by or in respect of, or filings with, any governmental body, agency or official or other person
(including but not limited to the Securities and Exchange Commission), and (ii) do not contravene, conflict with, result in a breach of
or constitute a default under any material provision of applicable law or regulation, or of any material agreement to which Seller is
a party or by which he or the Seller Stock is bound, or any judgment, order, decree or other instrument binding upon Seller or the Seller
Stock.

 

2.3       Ownership;
No Encumbrance. Seller is the sole legal, record and beneficial owner of the Seller Stock. Seller has good and marketable title
to the Seller Stock and the Seller Stock is and at Closing shall be free and clear of all liens, pledges, mortgages, charges, security
interests or encumbrances of any kind or nature (other than Federal and State securities laws). There are no outstanding options, warrants,
or rights to purchase the Seller Stock other than through this Agreement. This representation shall survive the Closing.

 

2.4       Affiliate
Status. Seller represents that Seller is an officer, director, and an “affiliate” of Company (as such term is defined
in Rule 144 as promulgated pursuant to the Securities Act of 1933, as amended).

 

2.5       Litigation.
There are no investigations, actions, suits or proceedings, administrative or otherwise, threatened or pending against the Seller or Company
to the knowledge of Seller that affects Seller’s rights to the Seller Stock or the sale of the Seller Stock itself.

 

 

    	 	 	 

     

    

 

2.6  
Insolvency.

 

(a)               
Seller. Seller is not insolvent, is not in receivership, nor is any application for receivership pending; no proceedings are pending
by or against it in bankruptcy or reorganization in any state or federal court; nor has it committed any act of bankruptcy.

 

(b)               
Company. Company is not insolvent, is not in receivership, nor is any application for receivership pending; no proceedings are
pending by or against it in bankruptcy or reorganization in any state or federal court; nor has it committed any act of bankruptcy.

 

2.7        Broker
Fee. Seller and Purchaser hereby represent and warrant that there has been no act or omission by Seller or the Purchaser which
would give rise to any valid claim against any of the parties hereto for a brokerage commission, finder’s fee or other like payment
in connection with the transaction contemplated hereby.

 

2.8       SEC
Documents; Financial Statements. The Company has timely filed all reports, schedules, forms, statements and other documents required
to be filed by it with the Securities and Exchange Commission (“SEC”) pursuant to the reporting requirements of the
Securities Exchange Act of 1934, as amended (the “1934 Act”) (all of the foregoing filed prior to the date hereof and
all exhibits included therein and financial statements and schedules thereto and documents (other than exhibits to such documents) incorporated
by reference therein, being hereinafter referred to herein as the “SEC Documents”). As of their respective dates, the
SEC Documents complied in all material respects with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated
thereunder applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. None of the statements made in any such SEC Documents
is, or has been, required to be amended or updated under applicable law (except for such statements as have been amended or updated in
subsequent filings prior the date hereof). As of their respective dates, the financial statements of the Company included in the SEC Documents
complied as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC
with respect thereto. Such financial statements have been prepared in accordance with United States generally accepted accounting principles,
consistently applied, during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes
thereto, or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary
statements) and fairly present in all material respects the consolidated financial position of the Company and its consolidated subsidiaries
as of the dates thereof and the consolidated results of their operations and cash flows for the periods then ended (subject, in the case
of unaudited statements, to normal year-end audit adjustments). Except as set forth in the financial statements of the Company included
in the SEC Documents, at the Closing, the Company has no liabilities, contingent or otherwise, other than: (i) liabilities incurred in
the ordinary course of business subsequent to the dates of such financial statements, and (ii) obligations under contracts and commitments
incurred in the ordinary course of business and not required under generally accepted accounting principles to be reflected in such financial
statements, which, individually or in the aggregate, are not material to the financial condition or operating results of the Company.

 

2.9       Absence
of Certain Changes. Since March 31, 2021, there has been no material adverse change and no material adverse development in the
assets, liabilities, business, properties, operations, financial condition, results of operations or prospects of the Company or any of
its subsidiaries.

 

III.       Representations
and Warranties of Purchaser

 

Purchaser
hereby represents and warrants that:

 

3.1       Due
Authorization. Purchaser has all requisite legal capacity to execute, deliver and perform this Agreement and the transactions
hereby contemplated. This Agreement constitutes a valid and binding agreement on the part of Purchaser and is enforceable against Purchaser
in accordance with its terms.

 

3.2       No
Consents; No Contravention. The execution, delivery and performance by Purchaser of this Agreement (i) require no authorization,
consent, approval or action by or in respect of, or filings with, any governmental body, agency or official or other person and (ii) do
not contravene, conflict with, result in a breach of or constitute a default under any material provision of applicable law or regulation,
or of any material agreement to which Purchaser is a party or by which he is bound, or any judgment, order, decree or other instrument
binding upon Seller.

 

 

    	 	2	 

     

    

 

3.3       Purchase
for Investment. Purchaser is acquiring the Seller Stock for investment for Purchaser’s own account and not as a nominee
or agent, and not with a view to the resale or distribution of any part thereof, and Purchaser has no present intention of selling, granting
any participation in, or otherwise distributing the same. Purchaser further represents that he does not have any contract, undertaking,
agreement or arrangement with any person to sell, transfer or grant participation to such person or to any third person, with respect
to any of the Seller Stock.

 

3.4       Not
Registered. Purchaser understands that the offer and sale of the Seller Stock has not been registered under the 1933 Act on the
ground that the sale and the issuance of securities hereunder is exempt from registration under the Securities Act pursuant to Section
4(2) thereof, and that FCAA’s reliance on such exemption is predicated on Purchaser’s representations set forth herein.

 

3.5       Accredited
Investor. Purchaser represents that he is an “accredited investor” as that term is defined in Regulation D promulgated
under the 1933 Act.

 

3.6       Investment
Experience. Purchaser acknowledges that he can bear the economic risk of his investment, and has such knowledge and experience
in financial and business matters that he is capable of evaluating the merits and risks of the investment in the Seller Stock and the
Company.

 

3.7       Information.
Purchaser has carefully reviewed such information as Purchaser deemed necessary to evaluate an investment in the Seller Stock and Preferred
Stock. To the full satisfaction of Purchaser, Purchaser has been furnished all materials that Purchaser requested relating to FCAA and
the issuance of the Seller Stock hereunder including the SEC Documents.

 

3.8       Restricted
Securities. Purchaser understands that the Seller Stock may not be sold, transferred, or otherwise disposed of without registration
under the 1933 Act or an exemption there from, and that in the absence of an effective registration statement covering the Seller Stock
or any available exemption from registration under the Securities Act, the Seller Stock must be held indefinitely. Purchaser is aware
that the Seller Stock may not be sold pursuant to Rule 144 promulgated under the Securities Act unless all of the conditions of that Rule
are met. At the closing, Purchaser understands that it will be an “affiliate” of the Company.

 

IV.       Seller’s
Conditions to Closing.

 

4.1       Accuracy
of Representations. Each of the representations and warranties of Purchaser contained in Article III shall be true, complete and
correct in all respects.

 

4.2       No
Action to Restrain. No statute, rule, regulation, judgment, injunction, order or decree shall have been enacted, entered, promulgated,
enforced or deemed applicable by any court of competent jurisdiction, arbitrator, government or governmental authority or agency, which
statute, rule, regulation, judgment, injunction, order or decree shall be in effect and restrain, enjoin, prohibit or otherwise make
illegal the consummation of the sale and purchase of the Seller Stock contemplated by this Agreement.

 

V.       Purchaser’s
Conditions to Closing.

 

5.1       Accuracy
of Representations. Each of the representations and warranties of Seller contained in Article II shall be true, complete and correct
in all respects.

 

5.2       No
Action to Restrain. No statute, rule, regulation, judgment, injunction, order or decree shall have been enacted, promulgated,
enforced or deemed applicable by any court of competent jurisdiction, arbitrator, government or governmental authority or agency, which
statute, rule, regulation, judgment, injunction, order or decree shall be in effect and restrain, enjoin, prohibit or otherwise make
illegal the consummation of the sale and purchase of the Seller Stock contemplated by this Agreement.

 

VI.       Miscellaneous.

 

6.1       Additional
Covenants.

 

(a)    Prompt
resignation of officers and directors: Upon Closing, the Seller shall cause all of the current officers and directors of the Company
to resign and Purchaser shall cause her and/or her designees to be elected or appointed as officer and member of the Board of Directors
of the Company.

 

 

    	 	3	 

     

    

 

(b)    Merger/Recapitalization.
Within thirty (30) days of the Closing, the Company shall combine by way of a merger, merger of subsidiary, share exchange or other recapitalization
with HyEdge, Inc. (“hFactor”) which includes the operations and product line know as hFactor, a water infused with
hydrogen product.

 

(c)    
Transfer Agent. During the period beginning on the Closing and ending on the date which is fourteen (14) months from the Closing
(the “Covenant Period”), Purchaser agrees that Olde Monmouth Stock Transfer Co., Inc. shall act as the Company’s
sole transfer agency with respect to the common stock of the Company. Notwithstanding anything to the contrary in the Agreement, Purchaser
may change transfer agents during the Covenant Period with the express written consent of Seller, which consent may not be unreasonably
withheld.

 

(d)    Reporting
Status. The Company’s common stock is registered under Section 12(g) of the 1934 Act. During the Covenant Period, the Company
shall timely file all reports required to be filed with the SEC pursuant to the 1934 Act, and the Company shall not terminate its status
as an issuer required to file reports under the 1934 Act even if the 1934 Act or the rules and regulations thereunder would permit such
termination. The Company further agrees to file all reports required to be filed by the Company with the SEC in a timely manner. Following
the Closing, the Company shall issue a press release and timely file a Form 8-K describing the transactions contemplated by this agreement
as well as details required by SEC rules and regulations; and file the audit of Green Acres on Form 8-K with the SEC timely.

 

(e)    Listing.
During the Covenant Period, FCAA shall maintain the listing and trading of its Seller Stock on the OTCMarkets or any equivalent replacement
exchange (or electronic quotation system) and will comply in all respects with FCAA’s reporting, filing and other obligations.

 

(f)     
Corporate Existence. During the Covenant Period, FCAA shall maintain its corporate existence and shall not render itself a “shell
company” as such term is defined in Rule 144 promulgated under the Securities Act of 1933, as amended. In addition, during the Covenant
Period, FCAA shall not undertake a reverse or forward stock split or other recapitalization without the express written consent of Seller.

 

(g)    Restriction.
Purchaser hereby agrees that, during the Covenant Period, she will not transfer, assign, sell, hypothecate, pledge or otherwise transfer
the Seller Stock without the prior written consent of Seller which may be withheld for any reason or no reason. Notwithstanding anything
to the contrary in this Section 6.1(g), the restrictions on Purchaser’s ability to sell the Shares or assets of FCAA shall not apply
to any transaction with a value greater than or equal to thirty-five million ($35,000,000.00) dollars. Limitations on transfer shall not
apply to the following transactions: (i) a transfer by Purchaser to a revocable grantor trust of which Purchaser is trustee and beneficiary;
(ii) a transfer by Purchaser to another entity solely owned and controlled by Purchaser such as an LLC; and (iii) a transfer of 25,000
shares by Purchaser to satisfy the debt obligation incurred to secure funding for this Agreement.

 

6.2       Indemnification.
Seller shall indemnify, defend and hold harmless Purchaser from and against any loss, liability, claim or damage (including incidental
and consequential damages), expenses (including costs of investigation and defense and reasonable attorney's fees), whether or not involving
a third-party claim, arising out of or in connection with the purchase of the Seller Stock up to $100,000. Notwithstanding anything to
the contrary in this Agreement, monetary limits on indemnification shall not apply to any loss, liability, claim or damage (including
incidental and consequential damages), expenses (including costs of investigation and defense and reasonable attorney's fees), whether
or not involving a third-party claim, arising out of or in connection with issues related to Seller’s ownership of or claim of title
to the Shares.

 

6.3       Binding
Effect; Assignment. Except as provided to the contrary hereinabove, this Agreement shall apply to and shall be binding upon the
parties hereto, their respective successors and assigns and all persons claiming by, through or under any of the aforesaid persons.

 

6.4       Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof
and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect to the subject matter
hereof.

 

6.5       Amendment.
This Agreement may not be amended or modified, except by a written instrument signed by the parties hereto.

 

 

    	 	4	 

     

    

 

6.6       Applicable
Law. This agreement and all transactions contemplated in this Agreement shall be governed by, construed and enforced in accordance
with the laws of New York. The parties herein waive trial by jury and agree to submit to the personal jurisdiction and venue of a court
of subject matter jurisdiction located in New York County, State of New York. In the event that litigation results from or arises out
of this Agreement or the performance thereof, the parties agree to reimburse the prevailing party’s reasonable attorney’s
fees, court costs and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing
party may be entitled.

 

6.7       Severability.
In the event that any one or more of the provisions contained in this Agreement, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every
other respect and of the remaining provisions contained in this Agreement shall not be in any way impaired, it being intended that all
rights, powers and privileges of the parties hereto shall be enforceable to the fullest extent permitted by law.

 

6.8       Notices.
All notices and other communications provided for herein shall be in writing and shall be deemed to have been duly given when received.

 

6.9       Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which together shall be deemed
to be one and the same instrument.

 

IN
WITNESS WHEREOF, Seller and Purchaser have executed this Agreement as of the date hereof. 

 

 

SELLER:

 

 

_________________________

David
Cicalese

Soc.
Sec. #:

 

PURCHASER:

 

 

__________________________

Gail
Levy

Soc.
Sec. #:

 

I hereby verify that Ficaar, Inc. is cognizant
of the transaction as set forth in this agreement, and GAIL LEVY, upon the closing of the transactions contemplated thereby, will be the
owner of 29,000,000 shares of fully-paid, non-assessable, common stock of Ficaar, Inc. I further confirm the representations made herein
by Seller in Article II hereof.

 

Ficaar, Inc.

 

 

 

By__________________________

	Name:	Dawn Cames

	Title:	President

	Date: 	May ___, 2021

 

 

    	 	5Exhibit 10.21

 

RESTRICTED STOCK AWARD AGREEMENT – DIRECTORS

 

ANGEL OAK MORTGAGE, INC.

2021 EQUITY INCENTIVE PLAN

 

Restricted Stock Award Notice

 

[Name of Holder]

 

You have been awarded shares of restricted stock of Angel Oak Mortgage, Inc., a corporation organized under the laws of the State of Maryland (the “Company”),  pursuant to the terms and conditions of the Angel Oak Mortgage, Inc. 2021 Equity Incentive Plan (the “Plan”) and the Restricted Stock Award Agreement (together with this Award Notice, the “Agreement”).  Copies of the Plan and the Restricted Stock Award Agreement are attached hereto.  Capitalized terms not defined herein shall have the meanings specified in the Plan or the Agreement.

 

	
Restricted Stock:
    	
 
    	
You have been awarded a restricted stock award with   respect to [    ] shares of Common Stock, par value $0.01   per share, subject to adjustment as provided in Section 6.1 of   the Agreement.
    
	
 
    	
 
    	
 
    
	
Grant Date:
    	
 
    	
[                    ,        ]
    
	
 
    	
 
    	
 
    
	
Vesting Schedule:
    	
 
    	
Except as otherwise provided in the Plan, the   Agreement or any other agreement between the Company, any of its Subsidiaries   or the Manager and you in effect on the Grant Date, the Award shall vest on   the one-year anniversary of the Grant Date (the “Vesting Date”);   provided that you are, and have been, continuously serving as a Non-Employee   Director from the date of this Agreement through and including the Vesting   Date.
    

 

 

	
 
    	
ANGEL OAK   MORTGAGE, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

Acknowledgment, Acceptance and Agreement:

 

By signing below and returning this Award Notice to Angel Oak Mortgage, Inc. or electronically accepting it on the Company’s third-party stock plan administrator’s platform, I hereby acknowledge receipt of the Agreement and the Plan, accept the Award granted to me and agree to be bound by the terms and conditions of this Award Notice, the Agreement and the Plan.

 

 

	
 
    	
 
    
	
Holder
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Date
    	
 
    

 

Signature Page to Restricted Stock Agreement

 

 

ANGEL OAK MORTGAGE, INC.

2021 EQUITY INCENTIVE PLAN

 

RESTRICTED STOCK AWARD AGREEMENT

 

Angel Oak Mortgage, Inc., a corporation organized under the laws of the State of Maryland (the “Company”), hereby grants to the individual (the “Holder”) named in the award notice attached hereto (the “Award Notice”) as of the date set forth in the Award Notice (the “Grant Date”), pursuant to the provisions of the Angel Oak Mortgage, Inc. 2021 Equity Incentive Plan (the “Plan”), a restricted stock award (the “Award”) with respect to the number of shares of the Company’s Common Stock, par value $0.01 per share (the “Shares”) set forth in the Award Notice, upon and subject to the restrictions, terms and conditions set forth in the Plan and this agreement (the “Agreement”).  Capitalized terms not defined herein shall have the meanings specified in the Plan.

 

1.             Award Subject to Acceptance of Agreement.  The Award shall be null and void unless the Holder (a) accepts this Agreement by executing the Award Notice in the space provided therefor and returning an original execution copy of the Award Notice to the Company (or electronically accepts this Agreement within the Holder’s stock plan account with the Company’s stock plan administrator according to the procedures then in effect), (b) if required by the Company, executes and returns one or more irrevocable stock powers to facilitate the transfer to the Company (or its assignee or nominee) of all or a portion of the Shares subject to the Award if any Shares are forfeited pursuant to Section 4 or if required under applicable laws or regulations and (c) agrees to abide by all administrative procedures established by the Company or its stock plan administrator, including any procedures requiring the Holder to notify the Company of any proposed sale of any Shares acquired upon the vesting of this Award.  As soon as practicable after the Holder has executed such documents and returned them to the Company, the Company shall cause to be issued in the Holder’s name the total number of Shares subject to the Award.

 

2.             Rights as a Stockholder.  Except as otherwise provided in this Agreement, the Holder shall have all rights as a holder of the Shares subject to the Award, including, without limitation, the right to receive dividends and other distributions thereon, and the right to participate in any capital adjustment applicable to all holders of Shares unless and until such shares are forfeited pursuant to Section 4 hereof; provided, however, that each distribution with respect to Shares that is a share distribution or share split, shall be delivered to the Company (and the Holder shall, if requested by the Company, execute and return one or more irrevocable stock powers related thereto) and shall be subject to the same restrictions as the Shares with respect to which such dividend or other distribution was made.

 

3.             Custody and Delivery of Shares.  The Shares subject to the Award shall be held by the Company or by a custodian in book entry form, with restrictions on the Shares duly noted, until such Award shall have vested pursuant to Section 4 hereof.  Alternatively, in the sole discretion of the Company, the Company shall hold a certificate or certificates representing the Shares subject to the Award until such Award shall have vested pursuant to Section 4 hereof.  After all or any portion of the Award shall have vested pursuant to Section 4 hereof, the

 

 

Company shall transfer the vested Shares on its books or deliver the certificate or certificates for the vested Shares, as applicable, to a brokerage account in the name of the Holder as designated by the Holder.  If the Company delivers certificate(s) for the vested Shares pursuant to the foregoing sentence, the Company shall also destroy the stock power or powers relating to such vested Shares delivered by the Holder pursuant to Section 1 hereof; provided that, if such stock power or powers also relate to unvested Shares, the Company may require, as a condition precedent to delivery of any certificate pursuant to this Section 3, the execution and delivery to the Company of one or more stock powers relating to such unvested Shares.

 

4.             Restriction Period and Vesting.

 

4.1.         Service-Based Vesting Condition. Except as otherwise provided for in this Agreement, the Award shall vest in accordance with the vesting schedule set forth in the Award Notice if, and only if, the Holder is, and has been, continuously serving as a Non-Employee Director from the date of this Agreement through and including the Vesting Date specified in the Award Notice.  The period of time prior to the vesting shall be referred to herein as the “Restriction Period.”

 

4.2.         Termination of Service due to Death or Disability.  If the Holder’s service with the Company terminates prior to the end of the Restriction Period by reason of the Holder’s death or Disability, then in any such case, 100% of the Award shall be vested upon such termination of service.  For purposes of this Agreement, “Disability” means Holder’s inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than twelve months as provided in Section 22(e)(3) of the Code.

 

4.3.         Termination Prior to the Expiration of the Restriction Period other than due to Death or Disability.  If the Holder’s service with the Company terminates prior to the end of the Restriction Period for any reason other than due to the Holder’s death or Disability, then the portion of the Award that was not vested immediately prior to such termination of service shall be immediately forfeited by the Holder and cancelled by the Company.

 

5.             Transfer Restrictions and Investment Representation.

 

5.1.         Nontransferability of Award.  During the Restriction Period, the Award may not be offered, sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) by the Holder or be subject to execution, attachment or similar process other than by will, the laws of descent and distribution or pursuant to beneficiary designation procedures approved by the Company. Any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of such shares shall be null and void.

 

5.2.      Investment Representation.  The Holder hereby represents and covenants that (a) any Share acquired upon the vesting of the Award will be acquired for investment and not with a view to the distribution thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”), unless such acquisition has been registered under the Securities Act and any applicable state securities laws; (b) any subsequent sale of any such shares shall be

 

 

made either pursuant to an effective registration statement under the Securities Act and any applicable state securities laws, or pursuant to an exemption from registration under the Securities Act and such state securities laws; and (c) if requested by the Company, the Holder shall submit a written statement, in form satisfactory to the Company, to the effect that such representation (x) is true and correct as of the date of vesting of any Shares hereunder or (y) is true and correct as of the date of any sale of any such share, as applicable.  As a further condition precedent to the delivery to the Holder of any Shares subject to the Award, the Holder shall comply with all regulations and requirements of any regulatory authority having control of or supervision over the issuance or delivery of the shares and, in connection therewith, shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.

 

5.3.      Legends.  The Holder understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the Company or by state or federal securities laws:

 

THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF A RESTRICTED STOCK AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER AND ANGEL OAK MORTGAGE, INC.  A COPY OF SUCH AGREEMENT IS ON FILE IN THE OFFICES OF, AND WILL BE MADE AVAILABLE FOR A PROPER PURPOSE BY, THE CORPORATE SECRETARY OF ANGEL OAK MORTGAGE, INC.

 

5.4.      Stop-Transfer Notices.  The Holder agrees that in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

 

5.5.      Refusal to Transfer.  The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred.

 

6.             Additional Terms and Conditions of Award.

 

6.1.         Adjustment.  In the event that the Board shall determine that any dividend or other distribution (whether in the form of cash, Shares, OP Units or other property), recapitalization, share split, reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or other similar transaction or event, affects the Shares such that an adjustment is appropriate in order to prevent dilution or enlargement of the rights of the Holder under the Plan, then the Board shall make equitable changes or adjustments to the Award in accordance with Section 5 of the Plan.  In addition, the Board may determine that any such equitable adjustment may be accomplished by making a payment to the Holder, in the form of cash or other property (including but not limited to Shares and/or OP

 

 

Units).The decision of the Committee regarding any such adjustment shall be final, binding and conclusive.

 

6.2.         Compliance with Applicable Law.  The Award is subject to the condition that if the listing, registration or qualification of the Shares subject to the Award upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary or desirable as a condition of, or in connection with, the vesting or delivery of shares hereunder, the Shares subject to the Award shall not vest or be delivered, in whole or in part, unless such listing, registration, qualification, consent, approval or other action shall have been effected or obtained, free of any conditions not acceptable to the Company.  The Company agrees to use reasonable efforts to effect or obtain any such listing, registration, qualification, consent, approval or other action.

 

6.3.         Delivery of Stock.  Upon the vesting of the Award, the Company shall deliver or cause to be delivered to the Holder the vested Shares in accordance with Section 3.  The Company shall pay all original issue or transfer taxes and all fees and expenses incident to such delivery.

 

6.4.         Award Confers No Rights to Continued Service.  In no event shall the granting of the Award or its acceptance by the Holder, or any provision of the Agreement or the Plan, give or be deemed to give the Holder any right to continued service with the Company or any parent, Subsidiary or Affiliate of the Company or affect in any manner the right of the Company or any parent, Subsidiary or Affiliate of the Company to terminate the service of any person at any time.

 

6.5.         Decisions of Board or Committee.  The Board or the Committee shall have the right to resolve all questions which may arise in connection with the Award.  Any interpretation, determination or other action made or taken by the Board or the Committee regarding the Plan or this Agreement shall be final, binding and conclusive.

 

6.6.         Successors.  This Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company and any person or persons who shall, upon the death of the Holder, acquire any rights hereunder in accordance with this Agreement or the Plan.

 

6.7.         Taxation. Taxation; Section 83(b) Election. The Holder understands that the Holder is solely responsible for all tax consequences to the Holder in connection with this Award.  The Holder represents that the Holder has consulted with any tax consultants the Holder deems advisable in connection with the Award and that the Holder is not relying on the Company for any tax advice.  If the Holder makes an election under Section 83(b) of the Code, the Holder agrees to deliver the executed Section 83(b) election to the Company for filing with the Internal Revenue Service within five days following the date hereof.

 

6.8.         Notices.  All notices, requests or other communications provided for in this Agreement shall be made, if to the Company, to Angel Oak Mortgage, Inc., Attn: [    ], and if to the Holder, to the last known mailing address of the Holder contained in the records of the Company.  All notices, requests or other communications provided for in this Agreement shall be

 

 

made in writing either (a) by personal delivery, (b) by facsimile or electronic mail with confirmation of receipt, (c) by mailing in the United States mails or (d) by express courier service.  The notice, request or other communication shall be deemed to be received upon personal delivery, upon confirmation of receipt of facsimile or electronic mail transmission or upon receipt by the party entitled thereto if by United States mail or express courier service; provided, however, that if a notice, request or other communication sent to the Company is not received during regular business hours, it shall be deemed to be received on the next succeeding business day of the Company.

 

6.9.         Governing Law. This Agreement, the Award and all determinations made and actions taken pursuant hereto and thereto, to the extent not governed by the laws of the United States, shall be governed by the laws of the State of Maryland and construed in accordance therewith without giving effect to principles of conflicts of laws.

 

6.10.       Agreement Subject to the Plan.  This Agreement is subject to the provisions of the Plan (including, without limitation, Section 7 of the Plan) and shall be interpreted in accordance therewith.  In the event that the provisions of this Agreement and the Plan conflict, the Plan shall control.  The Holder hereby acknowledges receipt of a copy of the Plan.

 

6.11.       Entire Agreement.  This Agreement and the Plan constitute the entire agreement of the parties with respect to the Shares subject to this Award and supersede in their entirety all prior undertakings and agreements of the Company and the Holder with respect to such Shares, and may not be modified adversely to the Holder’s interest except by means of a writing signed by the Company and the Holder.

 

6.12.       Partial Invalidity.  The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions hereof and this Agreement shall be construed in all respects as if such invalid or unenforceable provision was omitted.

 

6.13.       Amendment and Waiver.  The provisions of this Agreement may be amended or waived only by the written agreement of the Company and the Holder, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement.

 

6.14.       Counterparts.  The Award Notice may be executed in two counterparts, each of which shall be deemed an original and both of which together shall constitute one and the same instrument.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]