Document:

Exhibit 10.5

SUMMER ENERGY HOLDINGS, INC.

Angela Hanley

Dear Angela:

 

I am pleased to confirm the revised terms of your employment with Summer Energy Holdings, Inc. as its President.  This position also includes similar services on behalf of the subsidiaries of Summer Energy Holdings, Inc., including, Summer Energy, LLC, Summer Energy Northeast, LLC and Summer Energy Midwest, LLC (collectively, the “Company”).  If you decide to accept these terms, you will receive a semi-monthly salary of $4,230.77, which will be paid in accordance with the Company’s normal payroll procedures.  You will also be eligible to receive equity grants from time to time as determined by the Company’s board of directors.   As an employee, subject to satisfying any eligibility requirements, you may also be eligible to receive certain employee benefits as maintained by the Company from time to time for similarly situated employees, including group medical insurance; provided, however, you agree that after September 1, 2019 you will no longer be eligible for group health insurance coverage.  You should note that the Company may modify job titles, salaries and benefits from time to time as it deems necessary.     

You agree to devote your full business time, attention and best efforts to the performance of your duties and to the furtherance of the Company’s interests and you will seek to achieve the objectives described on Exhibit A of this letter.   You agree that you will work a minimum of 30 hours per week, and your time will be split between working in the Company’s offices and telecommuting from home or another location.  It is anticipated that you will be in the Company’s offices two days per week, during such hours as agreed to between you and the Company.  You also agree to attend management and staff meetings as requested by the Company from time to time.  

The Company looks forward to a beneficial and productive relationship. Nevertheless, you should be aware that your employment with the Company is for no specified period and constitutes at-will employment. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and upon two weeks’ written notice. We request that, in the event of resignation, you give the Company at least two weeks’ notice. If your employment with the Company is terminated for any reason, you will not be eligible to receive any severance and your regular salary payments will cease as of the termination date.  Upon termination of your 

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employment, all options to purchase Company stock which are unvested shall accelerate and immediately vest, subject to the terms and conditions of the Grant Agreements related to such stock options.  

You agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company.

As a Company employee, you will be expected to abide by the Company’s rules and standards. Specifically, you will be required to sign an acknowledgment that you have read and that you understand the Company’s rules of conduct, which are included in the Company’s Employee Handbook, a copy of which has been provided to you.

By virtue of your employment with the Company, you will have access to “Confidential Information” (as hereinafter defined) and you acknowledge that the communication of such Confidential Information to third parties could irreparably injure the business of the Company and its affiliates.  You acknowledge that all Confidential Information is the property of the Company and its affiliates and that you have no rights whatsoever in or to the Confidential Information.  At all times during and after the term of your employment, you agree to hold strictly confidential all Confidential Information, and you agree that you will not disclose to any unauthorized person (or copy or use for your own account or benefit) or any other person or entity, other than the Company and its affiliates, any Confidential Information without the prior written consent of the Company.  You agree to take all reasonable steps to safeguard Confidential Information against disclosure, misuse, espionage, loss and theft, subject to your good faith disclosure to or cooperation with any governmental authority related to a suspected violation of the law.

For purposes of this letter, “Confidential Information” means and includes all non-public tangible and intangible information and data, in any form and howsoever disclosed or acquired (including by observation), at any time before, on or after the date hereof, relating to the business or affairs of the Company and/or its affiliates, whether or not such information is or was identified as being confidential or proprietary at the time disclosed or acquired including information regarding business plans, current or prospective customers or clients (including customer lists and files), referral sources, suppliers, product or service costs and pricing, employees, independent contractors, current, future and proposed products and services, forms, workpapers, customer deliverables, manuals, spreadsheets, strategies, finances, assets, technology, data, accounting or business methods and practices, trade secrets, and any other information that reveals the processes, methodologies, or know-how by which existing or future products, services or methods of operation are developed, conducted or operated, and including any information, know-how, trade secrets, documents, materials and other data received by the Company and/or its affiliates from clients, customers or other third parties and held in (or required to be held in) confidence.  Confidential Information also includes all memoranda, notes, plans, records, reports, computer tapes and software and other documents, data and other 

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tangible materials (and copies thereof) containing or relating to Confidential Information, including any such materials prepared by or for you while employed by the Company or its affiliates (whether before or after the date of this letter).

Further, during your employment with the Company and for a period of 12 months thereafter (the “Restricted Period”), you will not, and will not permit any of your affiliates to, directly or indirectly, solicit or entice, or attempt to solicit or entice, any clients or customers of the Company or its affiliates or potential clients or customers of the Company or its affiliates for purposes of diverting their business or services from the Company or its affiliates.  Moreover, during the Restricted Period, you will not, and will not permit any of your affiliates to, directly or indirectly, hire or solicit any employee, independent contractor or consultant of the Company or its affiliates or encourage any such employee, independent contractor or consultant to leave such employment or engagement, or hire any such employee, independent contractor or consultant who has left such employment or engagement, except pursuant to a general solicitation which is not directed specifically to any such employees, independent contractors or consultants; provided that nothing herein shall prevent you or any of your affiliates from hiring after 180 days from his or her date of termination, any employee, independent contractor or consultant whose employment or engagement has been terminated by such employee, independent contractor or consultant or the Company or its affiliates.  

Upon termination of your employment with the Company or at any other time at the request of the Company, you will return to the Company (or deliver as directed by the Company) all originals and copies of all paper and electronic documents belonging to the Company or any of its affiliates including all paper and electronic documents containing Confidential Information.  All papers, books and records of every kind and description, in tangible or electronic form, relating to the business and affairs of the Company or any of its affiliates, whether or not prepared by you, shall be the sole and exclusive property of the Company and its affiliates and you will surrender them to the Company at any time upon request by the Company and, in any event, on or before the last day of your employment with the Company.  In addition, you acknowledge and agree that all personal property, of any nature whatsoever, furnished to you by the Company or any of its affiliates in the course of or incident to your employment, belongs to the Company and its affiliates and, upon termination of your employment for any reason, you will promptly (and in no event more than five days after the effective date of your termination) return to the Company such property in good working order, ordinary wear and tear excepted, in your possession or control.

To accept the Company’s offer, please sign and date this letter in the space provided below. A duplicate original is enclosed for your records.  This letter, along with any agreements relating to proprietary rights between you and the Company, set forth the terms of your employment with the Company and supersede any prior representations or agreements. This letter, including, but not limited to, its at-will employment provision, may not be modified or amended except by a written agreement signed by the Chief Executive Officer of the Company and you. 

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We look forward to your favorable reply and to working with you at Summer Energy Holdings, Inc. 

 

Sincerely,

/s/ Neil Leibman

Neil Leibman

Chief Executive Officer

Agreed to and accepted:

Signature:/s/ Angela Hanley 

Printed Name:Angela Hanley 

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EXHIBIT A

Objectives

Immediately shift focus to revamp, strengthen Operations 

Assist with getting new markets up and running, quickly and efficiently 

Assist with outstanding projects, implementation, coordination with IT 

Assist in VP Sales transition, training/coaching on technical issues, reporting, presentation, etc. 

Recruit and assist in hiring of new Operations, MGMT position 

Assist in “bridging the gap” to new hire in Operations MGMT 

Provide historical information re: structure of IT platforms, regulatory filings, infrastructure guidance, operational setup, etc. 

Prepare presentation information and present with Management as needed--company overview, historical metrics, performance, analysis etc.   

Additional objectives as determined by the Company from time to time.   

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4841-2391-4903.v4LOAN
DOCUMENT

PURCHASE
AND ASSIGNMENT AGREEMENT

 

THIS
LOAN DOCUMENT PURCHASE AND ASSIGNMENT AGREEMENT (the “Agreement”), is effective this 26th day of July, 2019 (the “Effective
Date”), by and between F&M BANK (“Assignor” or “Seller”) and GLOBAL HEALTHCARE REIT,
INC., a Utah corporation (“Assignee” or “Buyer”).

 

RECITALS

 

A.
Assignor is a party to certain loan documents which evidence a loan made by C. David Rhoades (“Rhoades”) and the Receivership
Estate of Healthcare Management of Oklahoma LLC (the “Receivership”) (“Borrower”), and described on Exhibit
A attached hereto and incorporated herein by this reference and collectively referred to herein as the “Loan Documents.”

 

B.
Assignee desires to purchase all of Assignor’s right, title, and interest in and to the Loan Documents, and Assignor is
willing to do so for the purchase price set forth below, among other things.

 

C.
Further, Assignor is willing to transfer to Assignee all of Assignor’s right, title, and interest in and to the Loan Documents
on the terms and conditions set forth herein.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.
Purchase of Loan Documents. At the Closing (defined below), Assignor shall sell, and Assignee shall buy, WITHOUT RECOURSE,
the Loan Documents; in exchange, Assignee shall pay to Assignor the sum of $693,756.16 as of July 31, 2019 (the “Purchase
Price”).

 

1.1
Payment of Purchase Price.

 

Buyer
shall remit the Purchase Price to Seller at Closing by delivering to Seller a check therefor or, at the Seller’s option,
by wire transfer thereof in immediately available funds to an account designated by Seller.

 

2.
Closing. Closing of the transactions contemplated hereunder (“Closing”) shall occur at a time and place mutually
agreed upon by the parties hereto, but in no event later than July 31 2019. Assignor and Assignee shall be responsible for their
respective legal costs related to the transaction and Assignee will be responsible for the administrative closing costs of the
transaction (filing fees, title, etc.).

 

    	 	 	 

    	 

    

 

3.
Assignment of Loan Documents. At Closing, Assignor shall assign to Assignee the Loan Documents, without recourse and without
representation or warranty except as set forth in this Agreement.

 

4.
Assignor’s Representations. Assignor represents, warrants, and covenants to Assignee the following:

 

(a)
Assignor has assigned the Note to Buyer and Assignor will be paid in full immediately after Closing. Assignor has not further
assigned, pledged, hypothecated or otherwise transferred any of its rights or interests under the Loan Documents, or any one of
the Loan Documents, to any other party or parties and is the owner of such rights and interests. The Loan Documents are not subject
to any other mortgage, security interest, pledge, lien, charge, encumbrance or title retention or other security agreement or
arrangement of any nature whatsoever;

 

(b)
To the best of the knowledge of Assignor, Exhibit A sets forth a true and complete list of all the agreements, documents,
and instruments evidencing or securing the transactions contemplated by the Loan Documents;

 

(c)
As of Closing, Assignor has no claims against Assignee; and

 

(d)
Assignor is duly authorized by all appropriate corporate action to undertake and perform this Agreement.

 

5.
Assignee’s Representations and Other Agreements. Assignee represents, warrants and covenants to Assignor the following:

 

(a)
Assignee has conducted its own investigation and analysis of the Borrower, the Loan Documents, and the real property commonly
known by street address of 5170 S. Vandalia Ave, Tulsa, Oklahoma 74135 and is not relying on any representations or warranties
of Assignor, except for those representations and warranties specifically made by Assignor in this Agreement;

 

(b)
As of Closing, Assignee has no claims against Assignor; and

 

(c)
Assignee is duly authorized by all appropriate corporate action to undertake and perform this Agreement.

 

6.
Further Assurances. Assignee shall, at its own cost and expense, execute, acknowledge, file, and record such further documents
and instruments and shall take such other actions as may be reasonably required or appropriate to carry out the intent and purposes
of this Agreement including, without limitation, the preparation, execution, and filing of a Form UCC-3. After Closing, Assignor
will provide such other and further information or documentation regarding the Loan as Assignee may request, provided such requests
are reasonable.

 

    	 	 	 

    	 

    

 

7.
Attorneys’ Fees. In the event of dispute under this Agreement, the prevailing party shall be obligated to pay the
non-prevailing party’s (whether or not suit is filed) reasonable attorney’s fees and costs incurred in connection
with such dispute, including without limitation any and all costs and fees incurred in any insolvency, bankruptcy or similar proceedings,
state or federal, whether voluntarily or involuntarily commenced.

 

8.
Binding on Heirs and Successors. This Agreement shall be binding on and shall inure to the benefit of the successors and
assigns of the parties hereto.

 

9.
Entire Agreement, Modification, Waiver. This Agreement contains the entire agreement of the parties relating to the subject
matter hereof. Any oral representations, supplements or modifications concerning this Agreement shall be of no force or effect
unless contained in a subsequent written modification signed by the party to be charged. No waiver of any of the provisions of
this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver
constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver.

 

10.
Governing Law. This Agreement is executed and intended to be performed in the State of Colorado, and the laws of that State
shall govern its interpretation and effect.

 

11.
Captions. The captions and section headings used herein are for convenience and for ease of reference only and constitute
no part of this Agreement or understanding between the parties hereto, and no reference shall be made thereto for the purpose
of construing or interpreting any of the provisions hereof.

 

12.
Survival of Warranties. The warranties and representations, and covenants of the parties hereunder shall survive the transactions
contemplated herein

 

13.
Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument.

 

14.
Parties in Interest. Nothing in this Agreement, whether express or implied, is intended to confer any rights or remedies
under or by reason of this Agreement on any persons other than the parties to it and their respective successors and assigns,
nor is anything in this Agreement intended to relieve or discharge the obligation or liability of any third persons to any party
to this Agreement, nor shall any provision give any third persons any right of subrogation or action over or against any party
to this Agreement.

 

15.
Singular, Plural, etc. Whenever the singular number is used herein and when required by the context, the same shall include
the plural, and the masculine gender shall include the feminine and neuter genders, and the word “person” shall include
corporation, firm, partnership, joint venture, trust, estate, or other association.

 

16.
Invalidity. In the event that any condition, covenant, promise, or other provision herein contained is held to be invalid
or void by any court of competent jurisdiction, the same shall be deemed severable from the remainder of this Agreement and shall
in no way affect any other covenant, promise, condition, or other provision herein contained. If such condition, covenant, promise,
or other provision shall be deemed invalid due to its scope or breadth, such provision shall be deemed valid to the extent of
the scope or breadth permitted by law.

 

    	 	 	 

    	 

    

 

17.
Exhibits and Schedules. All Exhibits and Schedules referred to herein are hereby attached hereto and incorporated herein
by this reference with the same force and effect as if fully set forth herein

 

18.
Execution. This Agreement shall be executed in duplicate original. Transmittal of fully-executed signature pages to the
other party by facsimile shall be deemed to constitute execution, provided original signature pages are simultaneously transmitted
to that party by overnight mail.

 

19.
Default by Assignor. Notwithstanding anything herein to the contrary, if the Assignor fails to make the required deliveries
at the Closing or otherwise defaults under this Agreement, then Assignee shall have the right to terminate this Agreement and
thereupon this Agreement shall be null and void and of no legal effect whatsoever. If so terminated, each party hereto shall suffer
their own losses, costs, expenses or damages arising out of, under or related to this Agreement.

 

20.
Assignee’s Indemnity. Assignee shall indemnify, defend and hold the Assignor harmless from and against any and all
losses, liabilities, damages, costs and obligations, or actions or claims in respect thereof, including reasonable counsel fees,
which the Assignor may suffer or incur arising out of or based upon:

 

(a)
the breach of any representation, warranty, covenant or agreement of Assignee contained in this Agreement; and

 

(b)
the Assignee’s use of any of the Loan Documents after the Closing.

 

21.
Conditions Precedent to Closing. The obligation of performance by the Assignor and Assignee of their respective obligations
under this Agreement is subject to the condition that on the Closing Date no suit, action or other proceeding shall be pending
before any court or governmental or regulatory authority which seeks to restrain or prohibit or to obtain damages or other relief
in connection with this Agreement or the consummation of the transactions contemplated by this Agreement.

 

22.
Assignor’s Indemnity. Assignor shall indemnify, defend and hold the Assignee harmless from and against any and all
losses, liabilities, damages, costs and obligations, or actions or claims in respect thereof, including reasonable counsel fees,
which the Assignee may suffer or incur arising out of or based upon:

 

(a)
the breach of any representation, warranty, covenant or agreement of Assignor contained in this Agreement; and

 

(b)
Assignor’s use of any of the Loan Documents prior to the Closing, other than collections in the ordinary course of business.

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as set forth below.

 

	ASSIGNOR:	 	ASSIGNEE:
	 	 	 
	F&M
    BANK	 	GLOBAL
    HEALTHCARE REIT, INC.
	 	 	 	 	 
	By:	/s/
    Eric V. Anderson	 	By:	/s/
    Zvi Rhine
	Name:	Eric
    V. Anderson	 	Name:	Zvi
    Rhine
	Title:	President	 	Title:	President
    

 

Borrower
consents to the foregoing assignment.

 

RECEIVER/BORROWER:

 

C.
DAVID RHOADES, JR.

HEALTHCARE
MANAGEMENT OF OKLAHOMA INC.

 

	By:	/s/
    C. David Rhoades	 
	 	C.
    David Rhoades, Receiver	 

 

    	 	 	 

    	 

    

 

EXHIBIT
A

LOAN
DOCUMENTS

 

	 	A.	Commercial
    Promissory Note dated July 5, 2017, which is a renewal of a Loan dated April 14, 2017, in the original principal amount of
    $750,000.00, executed by C. David Rhoades, Jr., as Receiver for the Healthcare Management of Oklahoma Inc.
	 	 	 
	 	B.	Security
    Agreement dated July 5, 2017 executed by C. David Rhoades as Receiver for Healthcare Management of Oklahoma Inc., as Borrower
    and F&M Bank as Secured Party;

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