Document:

jani_ex104.htm

EXHIBIT 10.4

THIS NONSTATUTORY STOCK OPTION AGREEMENT (“Agreement”) is made and entered into as of December 1, 2013, by and between Janus Resources, Inc. a Nevada corporation (the “Company”), and Thomas Bold (“Recipient”):

This Agreement has been executed and delivered pursuant to the At-Will Consulting Agreement dated November 28, 2013 (between the Recipient and the Company (the “Consulting Agreement”).

In consideration of the covenants herein set forth, the parties hereto agree as follows:

	
1.  

	
Option Grant

	
(a)  

	
Date option grant authorized: November 29, 2013 (the “Grant Date”)

	
(b)  

	
Number of shares: 40,000

	
(c)  

	
Exercise Price: $0.75

	
2.  

	
Acknowledgements.

(a)           Recipient is the President and Chief Executive Officer of the Company (collectively, the “Company/Recipient Relationship”);

(b)           The Board of Directors (the “Board”) has this day approved the granting of this Option subject to the execution of this Agreement; and

(c)           The Board has authorized the granting to Recipient of a non-statutory stock option (“Option”) to 40,000 purchase shares (the “Option Shares”) of common stock of the Company (“Common Stock”) upon the terms and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the “Securities Act”).

	
3.  

	
Option Shares; Price.

The Company hereby grants to Recipient the right to purchase, upon and subject to the terms and conditions herein stated, the Option Shares for cash (or other consideration as is authorized hereunder) at the price per Option Share set forth in Section 1 above (the “Exercise Price”), such price being not less than [e.g., 100%] of the fair market value per share of the Option Shares covered by this Option as of the date of grant.

	
4.  

	
Term of Option; Continuation of Service.

Subject to the early termination provisions set forth in Sections 7 and 8 of this Agreement, this Option shall expire, and all rights hereunder to purchase the Option Shares shall terminate 10 years from the Grant Date. Nothing contained herein shall be construed to interfere in any way with the right of the Company, or its shareholders, or the Board, to remove or not elect Recipient as an officer and or a director of the Company, or to increase or decrease the compensation of Directors from the rate in effect at the date hereof.

	
5.  

	
Vesting of Option.

Subject to the provisions of Sections 7 and 8 of this Agreement, this Option shall become exercisable during the term that Recipient serves in the Company/Recipient Relationship as follows:

as to 20,000 shares for each calendar year of service in an Executive Position for the next two years (40,000 shares in the aggregate), which shall become exercisable as follows:

(a) as to 20,000 shares on December 1, 2014; and

(b) as to 20,000 shares on December 1, 2015.

 

  

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All determinations and calculations with respect hereto shall be made by the Board or any committee thereof to which the Board has delegated such authority, in good faith in accordance with applicable law, the Articles of Incorporation and By-laws of the Company. This Option is an uncertificated security. Accordingly, the Company shall maintain an option registry, consistent with its current practices, for recording the vesting, exercise and termination of the Option.

	
6.  

	
Exercise.

(a)           This Option shall be exercised, as to the vested shares, by delivery to the Company of (a) written notice of exercise stating the number of Option Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise attached hereto as Exhibit A hereto, (b) a check or cash in the amount of the Exercise Price of the Option Shares covered by the notice, unless Recipient elects to exercise the cashless exercise option set forth in Section 6(b) below, in which case no payment will be required (or such other consideration as has been approved by the Board of Directors consistent with the Plan) and (c) a written investment representation as provided for in Section 13 hereof. This Option shall not be assignable or transferable, except by will or by the laws of descent and distribution, and shall be exercisable only by Recipient during his or her lifetime.

(b)           Anything herein to the contrary notwithstanding, to the extent and only to the extent vested, the Option may also be exercised (as to the Option Shares vested) at such time by means of a “cashless exercise” in which the Recipient shall be entitled to receive a certificate for the number of Option Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

(A) equals the closing price of the Company’s Common Stock, as reported (in order of priority) on the Trading Market on which the Company’s Common Stock is then listed or quoted for trading on the Trading Date preceding the date of the election to exercise; or, if the Company’s Common Stock is not then listed or traded on a Trading Market, then the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Recipient and the Company, the fees and expenses of which shall be paid by the Company;

(B) equals the Exercise Price of the Option, as adjusted from time to time in accordance herewith; and

(X) equals the number of vested Option Shares issuable upon exercise of this Option in accordance with the terms of this Option by means of a cash exercise rather than a cashless exercise (or, if the Option is being exercised only as to a portion of the shares as to which it has vested, the portion of the Options being exercised at the time the cashless exercise is made pursuant to this Section 6).

For purposes of this Agreement:

“Trading Day” means a day on which the Common Stock is traded on a Trading Market.

“Trading Market” means, in order of priority, the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the American Stock Exchange, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, the OTC Markets Group, Inc. QB tier, the OTC Bulletin Board or the Pink Sheets.

(c)           No fractional shares shall be issued upon exercise of this Option. The Company shall, in lieu of issuing any fractional share, pay the Recipient entitled a sum in cash equal to such fraction multiplied by the then effective Exercise Price.

 

  

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7.            Termination of Service.

If the Consulting Agreement is terminated, unless the parties thereto otherwise agree in writing, as of the date of the termination of the Consulting Agreement (the “Termination Date”), no further installments of the Option shall vest pursuant to Section 5, and the maximum number of Option Shares that Recipient may purchase pursuant hereto shall be limited to the number of Option Shares that were vested as of the Termination Date. Thereupon, Recipient shall have the right, subject to Section 8 hereof, at any time within 120 days of the Termination Date (the “Termination Exercise Period”) to exercise this Option to the extent vested and purchase Option Shares, to the extent, but only to the extent, that Recipient could have exercised this Option as of the Termination Date; following the expiration of the Termination Exercise Period the remaining unexercised vested Options shall terminate and this Agreement shall be of no further force or effect.

8.            Death of Recipient.

If the Recipient shall die during the term of the Consulting Agreement, Recipient’s personal representative or the person entitled to Recipient’s rights hereunder may at any time within the then remaining exercise period, exercise this Option and purchase Option Shares to the extent, but only to the extent, that Recipient could have exercised this Option as of the date of Recipient’s death; following the expiration of the aforesaid then remaining exercise period, this Agreement shall terminate in its entirety and be of no further force or effect.

9.            No Rights as Shareholder.

Recipient shall have no rights as a shareholder with respect to the Option Shares covered by any installment of this Option until the effective date of issuance of the Option Shares following exercise of this Option, and no adjustment will be made for dividends or other rights for which the record date is prior to the date such stock certificate or certificates.

10.          Recapitalization.

(a)           Subdivision or consolidation of shares. Subject to any required action by the shareholders of the Company, the number of Option Shares covered by this Option, and the Exercise Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision or consolidation of shares or the payment of a stock dividend, or any other increase or decrease in the number of such shares effected without receipt of consideration by the Company; provided however that the conversion of any convertible securities of the Company shall not be deemed having been “effected without receipt of consideration by the Company”.

(b)           Reorganizations, Mergers etc.

(i)           In the event of a proposed dissolution or liquidation of the Company, a merger or consolidation in which the Company is not the surviving entity, or a sale of all or substantially all of the assets or capital stock of the Company (collectively, a “Reorganization”):

(1) then, subject to Clause (b)(ii) below, any and all shares as to which the Option had not yet vested shall vest upon the date (the “Reorganization Vesting Date”) that the Company provides the Recipient with the Reorganization Notice (as defined below); and provided, however, that there has been no termination of the Consulting Agreement Recipient shall have the right to exercise this Option to the extent of all shares subject to the Option, for a period commencing on the Reorganization Vesting Date and terminating on the date of the consummation of such Reorganization. Unless otherwise agreed to by the Company. The Option shall terminate upon the consummation of the Reorganization and may not be exercised thereafter as to any shares subject thereto. The Company shall notify Recipient in writing (the “Reorganization Notice”), at least 30 days prior to the consummation of such Reorganization, of its intention to consummate a Reorganization.

(2) anything herein to the contrary notwithstanding, the exercise of the Option or any portion thereof pursuant to this Section 10(b) will be consummated simultaneously with the consummation of the Reorganization. If after the Company provides the Reorganization Notice to the Recipient the Company provides the Recipient with a further written notice notifying the Recipient that the Reorganization will not be consummated, then the Option will return to its status prior to the Reorganization Notice and the shares as to which the Option vested solely by virtue of this Section 10(b)(i) will revert to an unvested status.

 

  

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(ii)           Subject to any required action by the shareholders of the Company, if the Company shall be the surviving entity in any merger or consolidation, this Option thereafter shall pertain to and apply to the securities to which a Recipient of Option Shares equal to the Option Shares subject to this Option would have been entitled by reason of such merger or consolidation, and the installment provisions of Section 5 shall continue to apply.

(iii)          In the event of a change in the shares of the Company as presently constituted, which is limited to a change of all of its authorized Stock without par value into the same number of shares of Stock with a par value, the shares resulting from any such change shall be deemed to be the Option Shares within the meaning of this Option.

(iv)          To the extent that the foregoing adjustments relate to shares or securities of the Company, such adjustments shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as hereinbefore expressly provided, Recipient shall have no rights by reason of any subdivision or consolidation of shares of Stock of any class or the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class, and the number and price of Option Shares subject to this Option shall not be affected by, and no adjustments shall be made by reason of, any dissolution, liquidation, merger, consolidation or sale of assets or capital stock, or any issue by the Company of shares of stock of any class or securities convertible into shares of stock of any class.

 

(v)           The grant of this Option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve or liquidate or to sell or transfer all or any part of its business or assets.

11.          Taxation upon Exercise of Option.

Recipient and Company acknowledge that Recipient is a resident of Germany and has provided his services solely in Germany. Recipient shall be solely responsible for all taxes (including penalties and interests thereon) imposed on Recipient by reason of this Agreement, if any, and shall indemnify the Company and its Affiliates for any losses or damages (including reasonable attorneys’ fees) incurred or suffered by the Company or its Affiliates as a result of Recipient’s failure to pay any such taxes (including any penalties and interest thereon). Recipient understands that, upon exercise of this Option, Recipient may recognize income, for Federal and state income tax purposes, in an amount equal to the amount by which the fair market value of the Option Shares, determined as of the date of exercise, exceeds the Exercise Price. The acceptance of the Option Shares by Recipient shall constitute an agreement by Recipient to report such income in accordance with then applicable law and to cooperate with Company in establishing the amount of such income and corresponding deduction to the Company for its income tax purposes. Withholding for federal or state income and employment tax purposes will be made, if and as required by law, from Recipient’s then current compensation, or, if such current compensation is insufficient to satisfy withholding tax liability, the Company may require Recipient to make a cash payment to cover such liability as a condition of the exercise of this Option.

12.          Modification, Extension and Renewal of Options.

The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

13.          Investment Intent; Restrictions on Transfer.

(a)           Recipient represents and agrees that if Recipient exercises this Option in whole or in part, Recipient will in each case acquire the Option Shares upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part Recipient (or any person or persons entitled to exercise this Option under the provisions of Sections 7 and 8 of this Agreement) shall furnish to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Option Shares represented this Option are registered under the Securities Act, either before or after the exercise this Option in whole or in part, the Recipient shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the Company with the foregoing written statement.

 

  

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(b)           Recipient further represents that Recipient has had access to the financial statements or books and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information reasonably necessary to verify the accuracy of such information.

(c)           Unless and until the Option Shares represented by this Option are registered under the Securities Act, all certificates representing the Option Shares and any certificates subsequently issued in substitution therefore and any certificate for any securities issued pursuant to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the following form:

“THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE ‘SECURITIES ACT’) OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THAT CERTAIN NONSTATUTORY STOCK OPTION AGREEMENT DATED DECEMBER 1, 2013, BETWEEN THE COMPANY AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES WHICH ARE SUBJECT TO REPURCHASE BY THE COMPANY UNDER CERTAIN CONDITIONS.”

and/or such other legend or legends as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Option Shares have been placed with the Company’s transfer agent.

14.           Stand-off Agreement. Recipient agrees that, in connection with any registration of the Company’s securities under the Securities Act, and upon the request of the Company or any underwriter managing an underwritten offering of the Company’s securities, Recipient shall not sell, short any sale of, loan, grant an option for, or otherwise dispose of any of the Option Shares (other than Option Shares included in the offering) without the prior written consent of the Company or such managing underwriter, as applicable, for a period (the “Restrictive Period”) as may be specified by the Company or such underwriter or managing underwriter; provided, however, that the Restrictive Period shall not exceed one year following the effective date of registration of such offering.

15.           Transfer Restrictions. This Option is not transferable by the Recipient, except as contemplated by Section 8 of this Agreement.

16.           Notices. Any and all notices (including, but not limited to the Notice of Exercise) or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile or email at the facsimile number or email address provided to the Company on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the 2nd Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

17.           Agreement Subject to Plan; Applicable Law. This Option is made pursuant to the Plan and shall be interpreted to comply therewith. A copy of such Plan is available to Recipient, at no charge, at the principal office of the Company. Any provision of this Option inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan. This Option has been granted, executed and delivered in the State of New York, and the interpretation and enforcement shall be governed by the laws thereof and subject to the exclusive jurisdiction of the courts therein.

[SIGNATURE PAGE FOLLOWS]

 

 

  

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IN WITNESS WHEREOF the parties hereto have executed this Stock Option Agreement as of the date first above written.

Janus Resources, Inc.

By:         /s/ Joseph Sierchio                               

Name:    Joseph Sierchio

Title:      Director

Recipient

By:         /s/ Thomas Bold                                     

Name:    Thomas Bold

(One of the following, as appropriate, shall be signed):

	
I certify that as of December 1, 2013, I am not married.

	
By his or her signature, the undersigned spouse of the Recipient named herein hereby agrees, as of December 1, 2013, to be bound by the provisions of the foregoing NONSTATUTORY STOCK OPTION AGREEMENT.

	
 

 

 

/s/ Thomas Bold                                    

Thomas Bold, Recipient

	
Recipient’s Spouse:

 

 

_____________________________

Print Name:

 

 

6trtc_ex1012.htm

EXHIBIT 10.12

Certain portions of this Exhibit 10.12 have been omitted based upon a request for a confidential treatment and filed separately with the Securities and Exchange Commission.

 

Terra Tech Corp/Edible Garden Corp.

283 County Road 519

Belvidere, New Jersey 07823

December 2, 2013

Heartland Growers

2621 E 186th St

Westfield, IN 46074-9683

Tel: (317) 896-9355

Re:  Terms of Agreement

Dear Terra Tech Corp

Edible Garden Corp. (“EG”) is pleased to present this letter of agreement (the “Agreement”) pursuant to which Heartland Growers (“Grower”) retains EG, and authorizes EG to act as its exclusive agent, to market Grower’s Products under the Edible Garden brand throughout the Midwest Market.  By appointing EG as its exclusive agent, Grower agrees that EG shall have the exclusive authority to market the Grower’s Products and that Grower will not sell or otherwise market its Products including but not limited to herbs, leafy greens, and lettuces except through EG.   EG is exclusively authorized to market (but shall not purchase or take title to) the Grower’s Products.

The purpose of this contract is to set forth those points upon which we have agreed in principle and to confirm our joint intentions with respect to the arrangement.

1.  Marketing Agreement. EG will work in conjunction with Grower to cultivate and market EG’s line of locally grown sustainable produce throughout the Indiana market.  Edible Garden will be responsible for the marketing and sales of Grower’s products.  A list of the products covered under this Agreement (“Grower’s Products” or “Products”) is set forth in Schedule A, which is attached hereto and made a part hereof.

2.  Agency Agreement.  EG shall negotiate the sale of Grower’s Products under the Edible Garden brand to local grocery store chains and Big Box retailers, as well as specialty retailers throughout the Midwest Market.  EG shall handle invoicing of and collections from retail stores.

3. Structure and Process.  Grower will be responsible for the cultivation and packaging of Grower’s Products according to EG standards and all applicable laws, rules and regulations.  EG will assist Grower by disclosing trade and operational secrets including but not limited to packaging, handling protocols, cultivation techniques, greenhouse technologies, and nutrients. All retailer orders will be processed by EG and furnished to Grower for production and fulfillment.  Grower will be responsible for the transportation and distribution of their products to retail stores.  Upon receipt of Grower’s proof of delivery, EG will invoice the retailer for Grower’s Products.  EG will pay Grower the proceeds from the sale of Grower’s Products less EG’s commissions and other fees.

 

  

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4.  Quality Standards.  Grower’s Products delivered under this Agreement shall be grown in accordance with Good Agriculture Practices (GAP) and Good Handling Practices (GHP) as defined by the United States Department of Agriculture and shall be subject to the maturity and defects standards as defined by the retailer purchasing Grower’s Products.  EG and Grower agree to communicate regarding such maturity and defects standards prior to delivery. EG will provide support in order for Grower to meet said standards.  EG product standards will meet or exceed standards applied by retailers.. Grower hereby certifies that no illegal material has been or will be used, and no amounts applied in excess of EG’s stated limits for legal materials, on Grower’s Products.  In addition, Grower agrees that all Grower’s Products must meet the specifications set forth in the Edible Garden Product Specification Sheets found in Schedule B which is attached hereto and made a part hereof. The parties acknowledge and agree that quality assurance is an ongoing process and that EG may periodically revise and/or update the Edible Garden Product Specification Sheets.

5.   Delivery.  All risk of loss with respect to Grower’s Products shall remain with Grower until delivery to and acceptance of said products by the purchaser thereof, and EG shall have no responsibility with respect thereto nor at any time assume any risk of loss.

6.  Quality Inspections. Grower shall allow representatives of EG to inspect Grower’s Products and facilities at a pre-determined time, or a time that is mutually agreeable between parties to verify compliance with applicable quality standards and shall provide water and tissue samples upon EG’s request.  EG shall assist Grower shall assist with independent inspections and audits of Grower’s Products and facilities to verify compliance with GAP, GHP and the Produce Traceability Initiative (PTI).  All such inspections shall be scheduled through and may be attended by EG.

7.  Disputes with Retailers. Grower hereby agrees that although EG may cooperate with and assist Grower in the resolution of a dispute with the buyer of Grower’s produce, EG is not responsible for the cost or expense of retaining legal counsel in connection with any such dispute.

8.   Purchase of Materials from Edible Garden.  All packaging used by Grower shall be consistent with EG’s packaging standards, including the use of the “Edible Garden” name and logo.  Grower shall purchase all packaging, boxes and pots from EG provided pricing and quality is on par with or is equivalent to or better that than Grower’s arrangements with its current suppliers.  Any packaging supplies purchased by Grower must be approved, in writing, by EG.

9.     Use of Name.  Grower shall not use EG’s name, symbol or trademark in advertising or promotional matter or other commercial dissemination (whether written or oral) without EG’s written approval.  EG will work in connection with Grower to maximize branding in their respective local markets.

10.  Confidential Information.  EG and Grower each agree to hold the confidential and proprietary information and trade secrets obtained from the other in confidence and not to use or disclose such confidential and proprietary information and trade secrets to third parties without the consent of the other party, except that each of parties may disclose such information to their respective employees and agents who need to know such information for purposes of satisfying the terms of this Agreement.  Upon termination of this Agreement, EG and Grower agree to promptly return to the rightful owner all tangible information and documents delivered pursuant to this Agreement and destroy all compilations, studies of other documents prepared by or for the recipient’s use which reflect the information so delivered without retaining copies thereof.  The parties acknowledge and agree that all information disclosed by EG relating to its packaging and handling protocols, cultivation techniques, greenhouse technologies, nutrients and distribution relationships shall be confidential and proprietary information. The parties agree that the provisions contained in this paragraph shall survive the termination of this Agreement.

 

  

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11.  Term and Termination.  This Agreement is for a one-year term from the date of last signature below.  If the Agreement is terminated and not renewed, Grower is prohibited from producing and selling Products under the Edible Garden brand to any and all retailers in perpetuity.  In addition Grower is prohibited from selling similar products to relationships originating from EG for a period of one (1) year from the effective date of termination.

12.  Indemnification.  Grower hereby agrees to indemnify and save harmless EG, its directors, officers, employees, and agents from all actions, suits, charges, losses, damages and expenses whatsoever arising from (i) the negligent acts or omissions or willful misconduct of Grower, it directors, officers, or agents; (ii) Grower’s breach of any term or condition of this Agreement; (iii) EG’s compliance with any requirements of any statute, regulation or guidance pertaining to Grower’s Products where any such liability, loss, expense or cost was incurred as a consequence of the Grower failing to comply with any obligations of the Grower under such statute, regulation or guidance; (iv)  any product recall, food safety requirement or quarantine requirement (and any other action or occurrence of that kind) relating to Grower’s Products.

13.  Insurance.  During the term of this Agreement, Grower shall maintain policies of insurance with limits sufficient to cover its obligations herein. Such insurance shall include General Farm Liability Insurance, Commercial General Liability Insurance, Product Liability Insurance and Product Recall Insurance in amounts no less than $1,000,000 per occurrence and $2,000,000 annual aggregate.  Grower will provide evidence of such insurance to EG upon request.  EG shall be named as an additional insured for Grower’s Commercial General Liability and Product Liability policies, which must be primary and noncontributory with respect to the additional insureds.

14.  Expenses.  Each party shall be responsible for the payment of its own expenses in connection with this Agreement.

15.  Compensation. EG will invoice and be responsible for collections from each retailer. EG shall pay Grower within five (5) days of receipt of funds from the retailer less any commission and additional fees due to EG and will provide Grower with a detailed accounting of all payments on a monthly basis. EG shall not withhold any taxes on behalf of Grower. EG’s commission rates and additional fees are set forth in Schedule C, which is attached hereto and made a part hereof. Grower will invoice EG as well as provide proof of delivery to retailer.

16.  Governing Law.  This Agreement shall be construed in accordance with the laws of the State of New Jersey, regardless of conflicts of law principles. Venue for any action involving this Agreement shall be in Warren County, New Jersey.

17.  Entire Agreement.  This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings.

18.  Counterparts. This Agreement may be signed in counterparts, both of which shall be deemed an original but when taken together shall constitute one and the same agreement and may be executed by facsimile or by email exchange or a “portable document format” (“.pdf”) data file, where such signature shall be valid and binding with the same force and effect as if such facsimile or such “.pdf” file were an original thereof. This Agreement shall become effective when a counterpart has been signed by each of the parties hereto and delivered to the other.

 

  

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If the foregoing accurately sets forth your understanding concerning this matter, please acknowledge your concurrence by signing the enclosed copy of this Agreement in the space indicated below.  I look forward to working with you.

 

 

	 	
Sincerely,

	 
	 	 	 
	 	EDIBLE GARDEN CORP.	 
	 	 	 	 
	Date: December 2, 2013	By:	/s/ Derek Peterson	 
	 	Name:	Derek Peterson	 
	 	Title:	CEO	 

 

 

Accepted and Agreed:

 

	
Heartland Growers

	 
	 	 	 
	 	
/s/ Jim Gapinksi

	 
	Name:	
Jim Gapinski

	 
	Title:	
Owner

	 
	Date:	
December 2, 2013

	 

 

  

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Schedule A

Products

Living Fresh Basil

Living Fresh Butter Head Lettuce

4” Potted:

Basil

Oregano

Cilantro

Thyme

Parsley

Dill

Sage

Chives

Rosemary

Mint

 

  

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Schedule B

Product Specification Sheets

 

 

LIVING FRESH BASIL

UPC 635093201111

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8"

CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........50-55o

 

4" POTTED LIVING HERBS

 

BASIL

 

UPC 635093201111

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........50-55o

 

CILANTRO

 

UPC 635093201135

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

CHIVES

 

UPC 635093201197

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........50-55o

 

MINT

 

UPC 635093201173

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

  

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PARSLEY

 

UPC 635093201128

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

SAGE

 

UPC 635093211103

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

DILL

 

UPC 635093201142

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

ROSEMARY

 

UPC 635093201159

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

OREGANO

 

UPC 635093201180

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

THYME

 

UPC 635093201166

 

CaseCount: .............6 Dimensions:..............15.75"x11.5"x8" CasesPerPallet:..........80 Weight: ..................5lbs. StorageTemp: ...........38-50o

 

  

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Schedule C

Edible Garden Fees

	
Commission Fees

	
Fee

	
Sales commission for retail relationships originating from Grower (includes customers who have purchased produce from Grower within the preceding two years)

	
[confidential treatment requested]% of gross revenues received from retailers

	
Sales commission for retail relationships originating from EG

	
[confidential treatment requested]% of gross revenues received from retailers

	  	  
	
Additional Fees

	  
	
Edible Garden Packaging

	  
	
Edible Garden Pots

	  

 

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]