Document:

securealert10kexh1014.htm

Exhibit 10.14

 

From:         Sapinda Asia Limited.

 

	
  

	
To the attention of the Board of Directors of SecureAlert, Inc. and to Mr. Chad Olsen, CFO

 

Dated:               24 September 2013 

 

Notice of conversion 

 

Gentlemen,

 

We hereby are giving an official and formal notice that Sapinda Asia Limited, incorporated and registered in the British Virgin Island with company number  1601 693 whose mailing address is at Room 803-4, 8/F., Hang Seng Wanchai Building, 200 Hennessy Road Wanchai, Hong Kong, and the registered address at OMC Chambers, Wickhams Cay I , Road Town, Tortola, British Virgin Islands, herewith  converts  all  of its claims for payments  of principal  amounts and  of accrued  and  unpaid  interest under the Loan and Security Agreement between SECU REALERT Inc and Sapinda Asia Limited dated 3 December 2012 (the "LSA"). We refer to the Clause I .4 under which the Lender shall have the right to convert outstanding principal, accrued and un paid interest and fees under the Notes at a rate equal to two and a quarter cents per share prior to the reverse split ("Pre-split Conversion  Price").  We refer to a reverse 200:1 stock split which took place on 26 March 2013, which ca used the conversion rate to be subsequently adjusted to U$D 4.50 per share ("Post-split Conversion Price")

 

According to the language of the LSA, the principal amount under the LSA is U$D 16,640,000. However, according to the records Sapinda Asia, a total amount of U$D 16,700,000 has actually been funded under the LSA. The excess funding amount is U$D 60,000. Sapinda Asia will defer to the decision of your Board of Directors of SecureAlert to decide whether the excess funding amount of U$D 60,000 shall also be conve1tible into common shares. Should you decline to convert the excess funding amount, we would kindly ask you to return the U$D 60,000 to our bank account, of which separate instructions shall be provided.

 

In accordance with the LSA, Sapinda Asia also converts all of its interest claims under the LSA. According to the records of Sapinda Asia, the total interest claims as of the close of business on Monday, 23 September 2013, amount to U$D 914,147.93.

 

We hereby notify you that in accordance with our abovementioned rights in accordance with the Clauses 1.4 and I.5 of the Loan Agreement Sapinda Asia convert the entire principal of U$D 16,640,000 together with excess funding of U$D 60,000, and accrued and unpaid interest of U$D 921,468.47 as of close of business 30 September 2013, which date corresponds to the end of the notice period of 5 business days from the date of this Notice. This would result in a total of 3,91 5,881 common shares (U$D 17,621 ,468.47 I U$D 4.50) to be issued to Sapinda Asia's bank account which will be provided upon signed acknowledgment receipt.

 

  

  

  

 

We will provide you with our account details in writing once we receive a confirmation and acknowledgement of this Notice of Conversion.

 

Please confirm your acceptance of this conversion in writing (i n the email and scan) and remit the resulting certificate(s) to:

 

Attention; Tatiana Cohen 

c/o Sapinda Deutschland Gm bH Friedrichstr. 95

Berlin  10117 Germany

Email:  tatiana.cohen@saginda.com

 

Copy to:

 

Lars Windhorst 

Sapinda U K Limited 

23 Savile Row

 London W 1S 2ET

Email: Lars.Wind horst@sapinda.com

 

Please sign and return the enclosed duplicate of this notice as acknowledgement of receipt of the conversion notice including confirming the number of shares to be issued to us.

 

Yours faithfully,

/s/  Lars Windhorst

Signed by Lars Windhorst

Director

for and on behalf of

Sapinda Asia Ltd

  

  

  

 

From:     the Board of Directors of SecureAlert, Inc. and Mr. Chad Olsen, CFO

To:

 

Tatiana Cohen 

Theresa Tsang 

Lars Windhorst

 

To:  Sapinda Asia Limited incorporated and registered in the British Virgin Island with company number 1601 693 whose mailing address is at Room 803-4, 8/F., Hang Seng Wanchai Building, 200 Hennessy Road Wanchai, Hong Kong, and the registered address at OMC Chambers, Wickhams Cay I , Road Town, Tortola, British Virgin Islands

Dated: September 26, 2013 

 

Dear Sirs,

 

Acknowledgement of receipt

We hereby  acknowledge  receipt  of the conversion  notice dated  24  September 201 3 of which  the above is a copy and confirm  the amount of issued  common shares as mentioned i n the Notice  is 3,905,917 plus a cash payment of $63,143.

 

Yours faithfully, Signed by Chad Olsen

 

/s/  Chad Olsen

Chief Financial Officer 

for and on behalf of SECUREALERT Inc

 

  

  

  

ACKNOWLEDGEMENT OF CONFIDENTIALITY AND SECURITIES TRADING RU LES

 

Sapinda Asia Limited ("Sapinda"), as an Affiliate of SecureAlert, Inc. (the "Company") owning 10% or more of the outstanding equity of the Company, hereby acknowledges its status with the Company and agrees to abide by the Confidentiality and Securities Trading Rules of the Company. Sapinda further acknowledges that through its officers. directors and advisors,  it  has read and understood the Company policies on Confidentiality  and  Securities  Trading  and  is aware of and understands the laws and regulations regarding the trading of U.S. public company equity securities, agrees it has and will continue to com ply with such  laws, regulations and rules in all respects, including but not limited to regulations regarding ownership  and  public  resale reports pursuant to Sections 13(d) and 16 of the Securities Exchange Act of 1934, and Rule 144 promulgated under the Securities Act of 1933.

 

As applicable, Sapinda agrees that all of its officers, directors, subsidiaries, affiliates, all holding companies and other related entities over which Sapinda exerts control, and all persons or companies acting on behalf of or at Sapinda's request, are also expected to comply with such laws, regulations and rules.

 

Sapinda understands and acknowledges  that  any  breach  or  failure  to  comply  with  the Rules on Confidentiality  and Securities Trading and applicable  laws and  regulations may result in sanctions by the Company and/or appropriate  regulatory and governmental  authorities.

DATED this 20th day of September 2013.

 

 

SIGNATURE:         /s/  Lars Windhorst

 

Lars, Windhorst. CEO

WITNESS:              /s/ Allison Johns

Name:  Allison Johns

Title:  Assistant to the Managing DirectorExhibit 10.1

 

RESTRICTED STOCK UNIT AWARD AGREEMENT
 FOR EMPLOYEES
 UNDER THE BEHRINGER HARVARD MULTIFAMILY REIT I, INC.
 AMENDED AND RESTATED 2006 INCENTIVE AWARD PLAN

 

	
Name   of Grantee:
    	
 
    
	
 
    	
 
    
	
No. of   Restricted Stock Units:
    	
 
    
	
 
    	
 
    
	
Grant   Date:
    	
 
    

 

Pursuant to the Behringer Harvard Multifamily REIT I, Inc. Amended and Restated 2006 Incentive Award Plan (the “Plan”), Behringer Harvard Multifamily REIT I, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above.  Each Restricted Stock Unit shall relate to one share of Common Stock (the “Stock”) of the Company.

 

1.                                      Restrictions on Transfer of Award.  This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement.

 

2.                                      Vesting of Restricted Stock Units.  The restrictions imposed on the Restricted Stock Units shall lapse on the Vesting Dates specified in the following schedule so long as the Grantee remains employed by the Company continuously through such Dates.

 

	
Incremental Number of
   Restricted Stock Units Vested
    	
 
    	
Vesting Date
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(331/3%)
    	
 
    	
The 13-month anniversary of Grant Date
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(331/3%)
    	
 
    	
The second anniversary of Grant Date
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(331/3%)
    	
 
    	
The third anniversary of Grant Date
    

 

Notwithstanding the foregoing, the Grantee shall become fully vested in the Restricted Stock Units in the event of a Change of Control, the death or Disability of the Grantee, the termination of employment of the Grantee without Cause by the Company or termination of employment by the Grantee for Good Reason.  The terms “Disability,” “Cause” and “Good Reason” shall have the same meanings as set forth in the Employment Agreement dated as of August 1, 2013 among the Grantee, the Company and the Company’s operating partnership.

 

3.                                      Termination of Service.  If the Grantee’s employment with the Company and its Subsidiaries terminates for any reason (other than death, Disability, termination of employment by the Company without Cause or termination of employment by the Grantee for Good Reason)

 

 

prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall automatically and without notice terminate and be forfeited, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock Units.

 

4.                                      Issuance of Shares of Stock.  Each vested Restricted Stock Unit entitles the Grantee to receive one share of Stock as soon as practicable and no later than 30 days after the Vesting Date unless the Grantee has executed, and returned it to the Company no later than 30 days after the Grant Date, a deferral election form to defer the settlement date of his or her vested Restricted Stock Units.  If the Grantee has executed a deferral election form, the settlement date specified in such form shall apply and no shares of Stock shall be issued to the Grantee until the delayed settlement date.

 

5.                                      Dividend Equivalent Rights.  Prior to the settlement date provided in Paragraph 4 above, on each date that the Company makes a dividend payment on its Stock to its stockholders, it shall make a cash payment to the Grantee in an amount equal to the product of (x) the amount of dividend payable per share of Stock multiplied against (y) the number of unsettled Restricted Stock Units awarded to the Grantee under this Award.

 

6.                                      Incorporation of Plan.  Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the terms and conditions of the Plan.  Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 

7.                                      No Obligation to Continue as an Employee.  Neither the Plan nor this Award confers upon the Grantee any rights with respect to continued employment with the Company.

 

8.                                      Tax Withholding.  Any tax withholding required upon the issuance of Stock to the Grantee under this Agreement shall be satisfied by the Company withholding from shares of Stock to be issued, a number of shares of Stock with an aggregate Fair Market Value that would satisfy the minimum required tax withholding amount due.

 

9.                                      Integration.  This Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter.

 

10.                               Data Privacy Consent.  In order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”).  By entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant

 

2

 

Companies consider appropriate.  The Grantee shall have access to, and the right to change, the Relevant Information.  Relevant Information will only be used in accordance with applicable law.

 

11.                               Notices.  Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing.

 

	
 
    	
BEHRINGER   HARVARD MULTIFAMILY REIT I, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Title:
    

 

The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.  Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable.

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Grantee’s   Signature
    

 

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