Document:

EX 10.17 ARC HCT II 09.30.2013 10-Q SS

Exhibit 10.17

AMERICAN REALTY CAPITAL V, LLC
405 PARK AVENUE, 15TH FLOOR, NEW YORK, NY 10022
T: (212) 415-6500 F: (212) 421-5799

August 14, 2013

BY ELECTRONIC MAIL

OLMC Partners, LLC
5215 Old Orchard Road 
Suite 625
Skokie, IL 60077
Attention: Brian Howard
Email: BHoward@stageequity.com    

		
	Re: 
	Agreement for Purchase and Sale of Real Property, having an effective date of July 15, 2013, by and between American Realty Capital V, LLC, a Delaware limited liability company (together with its successors and assigns, “Buyer”), and OLMC Partners, LLC, a Delaware limited liability company (“Seller), as amended by letter agreement, dated July 18, 2013, and effective July 23, 2013, by and between Buyer and Seller (as amended, the “Agreement”)

Dear Mr. Howard:

Reference is made to the Agreement.  Capitalized terms used herein but not defined herein shall have the meanings given to such terms in the Agreement.  

This letter agreement shall serve to memorialize the following matters:

		
	1.
	Notwithstanding anything to the contrary contained in the Agreement, the Due Diligence Period shall expire at 11:59 PM EDT on August 16, 2013.

Except as expressly modified by this letter agreement, the terms, covenants and conditions of the Agreement shall remain in full force and effect, and shall be unmodified.  
This letter agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become a binding agreement when one or more counterparts have been signed by each of the parties and delivered to the other party.  Signatures on this letter agreement which are transmitted electronically shall be valid for all purposes, however any party shall deliver an original signature of this letter agreement to the other party upon request.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

OLMC Partners, LLC
August 14, 2013
Page 2 of 2

Please acknowledge Seller’s agreement to and acceptance of the terms hereof by countersigning this letter agreement on behalf of Seller in the space provided below.
        
Sincerely,
AMERICAN REALTY CAPITAL V, LLC 
By: /s/ Edward M. Weil, Jr.
Name: Edward M. Weil, Jr.
Title:   President

AGREED TO AND ACCEPTED
AS OF AUGUST 14, 2013:

	
		
	 
	 

	OLMC PARTNERS, LLC, a Delaware limited liability company

By:  MM-OLMC Partners, LLC

	 

	By: /s/ Edward W. Ross
	 

	   Name: Edward W. Ross
	 

	   Title:   Managing Member
	 

	 
	 

   

Cc:    Michael Z. Margolies (by Electronic Mail)
Jesse Galloway (by Electronic Mail)EX 10.18 ARC HCT II 09.30.2013 10-Q SS

Exhibit 10.18

AMERICAN REALTY CAPITAL V, LLC
405 PARK AVENUE, 15TH FLOOR, NEW YORK, NY 10022
T: (212) 415-6500 F: (212) 421-5799

August 16, 2013

BY ELECTRONIC MAIL

OLMC Partners, LLC
5215 Old Orchard Road 
Suite 625
Skokie, IL 60077
Attention: Brian Howard
Email: BHoward@stageequity.com    

		
	Re: 
	Agreement for Purchase and Sale of Real Property, having an effective date of July 15, 2013, by and between American Realty Capital V, LLC, a Delaware limited liability company (together with its successors and assigns, “Buyer”), and OLMC Partners, LLC, a Delaware limited liability company (“Seller), as amended by letter agreement, dated July 18, 2013, and effective July 23, 2013, by and between Buyer and Seller, and  letter agreement, dated August 14, 2013, by and between Buyer and Seller (as amended, the “Agreement”)

Dear Mr. Howard:

Reference is made to the Agreement.  Capitalized terms used herein but not defined herein shall have the meanings given to such terms in the Agreement.  

This letter agreement shall serve to memorialize the following matters:

		
	1.
	Pursuant to Section 11 of the Lease (the “APC Lease”) with Adult Primary Care Center, Ltd. (“APC”), APC is required to post an Irrevocable Letter of Credit in the amount of $25,000.00, effective through December 24, 2013 (the “LOC”).  As a condition precedent to Buyer’s obligation to proceed to Closing, Seller shall be required to (i) deliver to Buyer an assignment of, or replacement to, the LOC naming Approved Assignee as beneficiary, and otherwise in the same form as previously accepted by Seller as landlord under the APC Lease (the “New LOC”), OR (ii) deposit $25,000.00 with Escrow Agent at Closing, to be held pursuant to the Post-Closing Escrow Holdback Agreement attached hereto as Exhibit A and made a part hereof (the “Holdback Agreement”).  In the event Seller elects to proceed under clause (ii) next above, Buyer and Seller shall execute the Holdback Agreement and deliver same to the Escrow Agent on or prior to the Closing Date.

		
	2.
	Notwithstanding anything in the Agreement to the contrary, the Closing Date shall be August 21, 2013, and Buyer waives the right, set forth in Section 10 of the Agreement, to extend the Closing Date.

OLMC Partners, LLC
August 16, 2013
Page 2 of 3

		
	3.
	Purchaser accepts the condition of title and survey and confirms that it has accepted the condition of the Property and waives any right to terminate the Agreement under the provisions of Section 6(b) of the Agreement.

		
	4.
	At Closing, Buyer shall receive a $4,000.00 credit against the Purchase Price to compensate Buyer for the cost to perform certain repairs and replacements within the parking lot at the Property.

Except as expressly modified by this letter agreement, the terms, covenants and conditions of the Agreement shall remain in full force and effect, and shall be unmodified.  
This letter agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become a binding agreement when one or more counterparts have been signed by each of the parties and delivered to the other party.  Signatures on this letter agreement which are transmitted electronically shall be valid for all purposes, however any party shall deliver an original signature of this letter agreement to the other party upon request.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

OLMC Partners, LLC
August 16, 2013
Page 3 of 3

Please acknowledge Seller’s agreement to and acceptance of the terms hereof by countersigning this letter agreement on behalf of Seller in the space provided below.
        
Sincerely,
AMERICAN REALTY CAPITAL V, LLC 
By: /s/ Edward M. Weil, Jr.
Name: Edward M. Weil, Jr.
Title:   President

AGREED TO AND ACCEPTED
AS OF AUGUST 16, 2013:

	
		
	 
	 

	OLMC PARTNERS, LLC, a Delaware limited liability company

	 

	By: /s/ Michael Z. Margolies
	 

	   Name: Michael Z. Margolies
	 

	   Title:  Attorney for Seller
	 

	 
	 

   

Cc:    Michael Z. Margolies (by Electronic Mail)
Jesse Galloway (by Electronic Mail)

EXHIBIT A

HOLDBACK AGREEMENT

(attached)Exhibit 10.3 Amendment No 2 to Chin Employment Agreement

Exhibit 10.3

AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
This Amendment No. 2 to Employment Agreement (this “Amendment”) is made as of November 11, by and between Kindred Biosciences, Inc., a Delaware corporation (the “Company”), and Richard Chin, an individual and resident of the State of California (the “Executive”), with reference to the following facts: 
WHEREAS, the Company and the Executive are parties to an Employment Agreement dated as of September 1, 2013 (the “Employment Agreement”), which amended in some respects and restated in its entirety the original Employment Agreement, dated October 1, 2012, between the parties and pursuant to which Executive serves as the Company’s President and Chief Executive Officer; and
WHEREAS, the Company and Executive wish to further amend the Employment Agreement in certain respects as provided in this Amendment.
NOW, THEREFORE, in consideration of the foregoing and other consideration, the receipt and sufficiency of which hereby are acknowledged, the Company and Executive hereby agree as follows:
		
	1.
	Definitions.  Terms not otherwise defined in this Amendment shall have the meanings attributed to such terms in the Employment Agreement.  References in the Employment Agreement and this Amendment to this “Agreement" mean the Employment Agreement as amended by this Amendment and as further amended from time to time as provided in the Employment Agreement.

2.Amendments.  The Employment Agreement is hereby amended in the following respects:
A.All references to “options of the Company’s common stock” or similar terms in Section 3(c) and elsewhere in the Employment Agreement shall mean stock options to purchase common stock of the Company granted or to be granted by the Company under an appropriate stock option or equity incentive plan in effect at the time of the grant, itself, of such stock options, including without limitation, the Company’s 2012 Equity Incentive Plan, as amended.
B.Section 4(e) is amended to remove the erroneous reference to Section 2(g) in clause (ii) thereof and to read in entirety as follows:

(e)    Release of Claims/Board Resignation.  The Company shall not be obligated to provide Executive any of the benefits or equity acceleration set forth in Section 4(c)(iv) until Executive has:  (i) executed a separation agreement in a form mutually acceptable to the Company and the Executive, which shall include a releases of claims between the Company and the Executive, including provisions regarding mutual non-disparagement and confidentiality; and (ii) resigned from the Board if so requested by the Company.

No Other Changes to the Employment Agreement.  Except as expressly amended by this Amendment, all of the terms of the Employment Agreement shall remain in full force and effect.

[Signature Page Follows]

1
-  .

Exhibit 10.3

IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 2 as of the date first set forth above.

	
		
	KINDRED BIOSCIENCES, INC.

	EXECUTIVE

	By:     /s/ Denise Bevers 
   Denise Bevers, COO
	   /s/ Richard Chin
Richard Chin

	 
	 

2
-  .

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]