Document:

GMED 6.30.15 Ex 10.1

Exhibit 10.1

FOURTH AMENDMENT TO CREDIT AGREEMENT
 
 
THIS AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of May 4, 2015, by and between GLOBUS MEDICAL, INC., a Delaware corporation (“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”). 
 
RECITALS 
 
WHEREAS, Borrower is currently indebted to Bank pursuant to the terms and conditions of that certain Credit Agreement between Borrower and Bank dated as of May 3, 2011, as amended from time to time (“Credit Agreement”). 
 
WHEREAS, Bank and Borrower have agreed to certain changes in the terms and conditions set forth in the Credit Agreement and have agreed to amend the Credit Agreement to reflect said changes. 
 
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that the Credit Agreement shall be amended as follows: 
 
1. Section 1.1. (a) is hereby amended by deleting “May 31, 2015” as the last day on which Bank will make advances under the Line of Credit, and by substituting for said date “May 31, 2016,” with such change to be effective upon the execution and delivery to Bank of a promissory note dated as of May 4, 2015 (which promissory note shall replace and be deemed the Line of Credit Note defined in and made pursuant to the Credit Agreement) and all other contracts, instruments and documents required by Bank to evidence such change. 
 
2. The following is hereby added to the Credit Agreement as Section 1.6.: 
 
“SECTION 1.6. COLLECTION OF PAYMENTS.  Borrower authorizes Bank to collect all principal, interest and fees due under each credit subject hereto by debiting Borrower’s deposit account number 4124817552 with Bank, or any other deposit account maintained by Borrower with Bank, for the full amount thereof.  Should there be insufficient funds in any such deposit account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by Borrower.” 
 
3. Except as specifically provided herein, all terms and conditions of the Credit Agreement remain in full force and effect, without waiver or modification.  All terms defined in the Credit Agreement shall have the same meaning when used in this Amendment.  This Amendment and the Credit Agreement shall be read together, as one document. 
 
4. Borrower hereby remakes all representations and warranties contained in the Credit Agreement and reaffirms all covenants set forth therein.  Borrower further certifies that as of the date of this Amendment there exists no Event of Default as defined in the Credit Agreement, nor any condition, act or event which with the giving of notice or the passage of time or both would constitute any such Event of Default. 
 
IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have caused this Amendment to be executed as a sealed instrument as of the day and year first written above. 
 

	
			
	GLOBUS MEDICAL, INC.
	 
	WELLS FARGO BANK,               NATIONAL ASSOCIATION 

	 
	 
	 

	By: /s/ DAVID M. DEMSKI       (SEAL)
	 
	By: /s/ JOSEPH J. DEMARCO, JR.

	DAVID M. DEMSKI
	 
	JOSEPH J. DEMARCO, JR.

	PRESIDENT, COO AND CFO
	 
	SENIOR VICE PRESIDENTex10-1.htm

Exhibit 10.1

 

CODE REBEL CORPORATION

 

77 Ho’okele Street, Suite 102

 

Kahului, Hawaii 96732

 

July 27, 2015

 

Mr. Thomas M. Moreno

 

c/o ThinOps Resources LLC

 

P.O. Box 9545

 

The Woodlands, Texas 77387

 

 

 

Dear Tom:

 

This employment letter will confirm the terms of your employment by Code Rebel Corporation (the “Company”).  This employment letter is being entered into by us contemporaneously with the execution of the Membership Interest Purchase Agreement, dated as of the date hereof (the “Purchase Agreement”), by and among the Company, ThinOps Resources LLC (“ThinOps”) and you.

 

	
1.  

	
TITLE

 

You shall be employed by the Company and serve as the President of ThinOps, which will be a wholly-owned, independently-operated subsidiary of the Company following the closing of the Purchase Agreement, reporting to the Company’s Chief Executive Officer.  You shall also serve, if requested, as an officer of the Company.

 

	
2.  

	
SALARY

 

Your salary shall be $20,000 per month, payable in bi-monthly installments.  The Company shall reimburse you for all reasonable business expenses properly and reasonably incurred and paid by you in the performance of your duties in connection with your employment by the Company upon your presentment of detailed receipts in the form reasonably required by the Company.

 

	
3.  

	
TERM

 

You shall be an employee of the Company for a period of three (3) years, beginning immediately following the closing of the Purchase Agreement.  Thereafter, you or the Company may terminate this letter for any reason at any time upon thirty (30) days’ prior written notice.  At the end of the notice period, your salary will cease.

 

	
4.  

	
TERMINATION

 

If, during the term of your employment, (a) you are terminated by the Company other than for “Cause” (as defined below), or (b) you resign for “Good Reason” (as defined below), then you will continue to receive for a period of one year following such termination your then current salary payable on the same basis as you were then being paid.

 

“Cause” means:

 

(a) deliberate refusal or deliberate failure to carry out any reasonable order, consistent with your position, of the Chief Executive Officer or the Board of Directors of the Company after reasonable written notice from such persons; (ii) a material and willful breach of this employment letter, Section 6.5 of the Purchase Agreement, “Non-Competition,” or similar agreements with the Company or ThinOps; (iii) gross negligence or willful misconduct in the execution of your assigned duties as an employee; (iv) engaging in repeated intemperate use of alcohol or drugs; (v) conviction of a felony or other serious crime; or (vi) ThinOps substantially underperforming against its projected revenue estimates given to the Company.

 

“Good Reason” means:

 

(a) you shall have been assigned duties materially inconsistent with your position; (ii) your salary is reduced more than 20% below its then current level; or (iii) material benefits and compensation plans then currently in existence are not continued in effect for your benefit.

 

You will not be terminated by the Company for any reason except upon thirty (30) days prior written notice.

 

	
5.  

	
RESPONSIBILITIES

 

Your responsibilities and duties shall be those ordinarily possessed by an employee in your position, including responsibility for the continuing operations of ThinOps.

 

	
6.  

	
NON-COMPETITION AND NON-SOLICITATION AGREEMENTS

 

Section 6.5 of the Purchase Agreement, “Non-Competition,” which is hereby incorporated into this letter agreement as if set forth herein in its entirety, forms part of the consideration given by you for the Company entering into this employment letter with you.

 

	
7.  

	
GOVERNING LAW

 

This employment letter shall be governed by and construed in accordance with the laws of the State of New York, as applied to agreements whose only parties are residents of such state and which are to be performed entirely within such state.

 

 

  

  

  

 

	
8.  

	
COUNTERPARTS

 

This employment letter may be executed in counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument.

 

	  	
Very truly yours,

	  	  
	  	
CODE REBEL CORPORATION

	  	  
	  	
By:

	

/s/ Arben Kryeziu

	  	  	
Name:

	
Arben Kryeziu

	  	  	
Title:

	
Chairman and Chief Executive Officer

 

ACCEPTED AND AGREED:

	

/s/ Thomas M. Moreno

	 
	
Thomas M. Morenobtfl_ex1025.htm

EXHIBIT 10.25

 

Monarch America, Inc.

 

January     , 2015

 

Robert Shepherd 

 

Re: Native American Tribal Relations Officer

 

Dear Mr. Shepherd: 

 

We are pleased that you have accepted our offer as the Native American Tribal Relations Officer of Monarch America, Inc., a Nevada corporation (the "Company"). In this position, we are expecting that you will, among other responsibilities, introduce the Company and its management to the Native American community. 

 

For each month you remain in this position until the earlier of (i) the execution of a revenue generating agreement between the Company and an Indian tribe and (ii) the termination of your role with the Company, you will be entitled to (1) $5,000 in shares of common stock, based on the volume weighted average of our stock for the previous 20 days, and (2) $1,500 in cash. After the Company executes such an agreement with a tribe, you will be compensated on a monthly basis (1) $5,500 in shares of common stock and (2) $5,500 in cash. In addition, we will be issuing you a sign-on bonus of $10,000 worth of shares of common stock. 

 

You will be expected to represent the Company at no less than five (5) conferences during the year. We will pay you $3,000 per conference you attend on behalf of the Company. We will also pay you $500 per month for traveling expenses in connection with your duties to the Company; any travel expense in excess of $500 requires the written approval of the President of the Company. All reimbursement will be made against original receipts and otherwise in accordance with the Company's general expense reimbursement policies and procedures. 

 

You should be aware that your position with the Company constitutes "at-will" employment. This means that your employment relationship with the Company may be terminated at any time, with or without cause. You understand and agree that neither your job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as the basis for modification, amendment, or extension, by implication or otherwise, of the terms of your employment with the Company. If you decide that you no longer desire to remain employed by the Company, we hope you will provide us with no less than 30 days' prior written notice of your decision. 

 

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 or indirectly 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. Specifically, but not to limit the foregoing, you are not to, directly or indirectly, whether alone or as a partner, principal, agent, employee, consultant, proprietor, director, officer, employee, member, joint venture, creditor, shareholder, owner, manager or otherwise, be employed by, act as a consultant to or be an owner or participate in the ownership, management, operation or control of any company involved directly or indirectly with cannabis or any cannabis related product. 

 

As a Company employee, you will be expected to abide by all federal or state laws and in accordance of normal industry practices. You also agree to maintain the confidentiality of all confidential and proprietary information of the Company. 

 

	 
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You agree that any dispute or claim relating to or arising out of our employment relationship shall be fully and finally resolved by binding arbitration conducted by the American Arbitration Association in the State of Colorado. However, we agree that this arbitration provision shall not apply to disputes or claims relating to or arising out of the misuse or misappropriation of the Company's trade secrets or proprietary information or the breach or threatened breach of the non-compete provision contained above. 

 

This letter represents the entire agreement and understanding between you and the Company concerning your relationship with the Company and supersedes in its entirety all prior agreements and understandings concerning your employment relationship with the Company, whether written or oral. 

 

In accepting this offer, you represent and warrant to us that (a) you are not a party to any employment agreement or other contract or arrangement which prohibits your employment with the Company, (b) you do not know of any conflict which would restrict your employment with the Company, and (c) you do not have and will not bring with you to your employment with the Company any document, record or other confidential information belonging to a former employer. Each of these representations and warranties is a material inducement to the making of this offer and a condition to your continued employment, and you agree that a termination of your employment by the Company in the event of a breach of any of them would be with cause and not subject to an opportunity to cure. 

 

The terms of this letter may only be amended, canceled or discharged in writing signed by you and an authorized director or officer of the Company. As this letter relates to employment to be performed for a company with headquarters in the State of Colorado, this letter shall be governed by the internal substantive laws, but not the choice of law rules, of the State of Colorado. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this letter shall continue in full force and effect without such provision. 

 

[Signature Page to Follow]

 

	 
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To indicate your acceptance of the Company's offer, please sign and date this letter in the space provided below and return it to me. A duplicate original is enclosed for your  records. This letter will expire if not accepted and returned by you on or before January ___, 2015.  

 

	
 
	
Sincerely, 

		 
	
 
	
Monarch America, Inc. 

		 
	
 By:
	
/s/ Eric Hagen

		President and CEO

 

 

ACCEPTED and AGREED TO this 

 

_______ day of _____________ 2015  

 

/s/ Robert Shepherd

Robert Shepherd 

 

 

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