Document:

Exhibit
10.18

 

Consent
to be Named as a Director Nominee

 

In
connection with the filing by Sharps Technology Inc. of the Registration Statement on Form S- 1 with the Securities and Exchange Commission
under the Securities Act of 1933, as amended (the “Securities Act”), I hereby consent, pursuant to Rule 438 of the Securities
Act, to being named as a nominee to the board of directors of Sharps Technology Inc.in the Registration Statement and any and all amendments
and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments
thereto.

 

	Dated: January 19, 2022	 
	 	 
	 	/s/ Brenda Baird SimpsonExhibit
4.1

 

ORIGINAL
ISSUE DISCOUNT PROMISSORY NOTE AND SECURITY AGREEMENT

 

 

Principal $197,500

	Purchase Price $175,000	 	 	 	Issuance Date: March 14, 2022

 

The undersigned maker (the
“Maker”) promises to pay to the order of Mercer Street Global Opportunity Fund, LLC, a Delaware limited liability
company (the “Lender) the principal sum of $197,500, together with interest accruing thereon from the date hereof at the
rate and time hereinafter provided. The principal of this Note includes an Original Issue Discount of $22,500 which includes $5,000 of
the Holder’s legal fees.

 

Interest (computed on the
basis of a 360-day year for the actual number of days elapsed) on the outstanding balance of principal evidenced by this Promissory Note
and Security Agreement (“Note”) shall accrue at a rate per annum equal to 3%.

 

On the 12th month anniversary
of the Issuance Date of this Note (the “Maturity Date”), all outstanding principal, accrued and unpaid interest and
all other amounts due and payable hereunder shall be immediately due and payable in full.

 

This Note also creates a lien
on and grants a priority security interest in all of Maker’s Accounts, Goods, Inventory, Equipment, Investment Property, General
Intangibles, Instruments, Documents, and all other assets and personal property of the Maker, wherever located, together with all the
proceeds now or hereafter arising in connection therewith (the “Collateral”). This Note shall also constitute a security
agreement under the New York Uniform Commercial Code or other law applicable to the creation of liens on personal property. Capitalized
terms used in this paragraph shall have the meanings that are given to them under the New York Uniform Commercial Code. Maker acknowledges
and agrees that Lender shall have the right to file a UCC-1 financing statement and any renewals and continuations thereof or other documents
as Lender may reasonably require with respect to this security interest. If a default occurs under this Note, Lender shall have all rights
and remedies of a secured party under the New York Uniform Commercial Code.

 

The failure of Maker to pay
to Lender (as required under this Note) promptly within three calendar days after written notice from Lender that amounts are due and
payable under this Note shall constitute an event or default under this Note. 

 

At any time after the occurrence
of any event of default, the indebtedness evidenced by this Note and/or any note(s) or other obligation(s) which may be taken in renewal,
extension, substitution or modification of all or any part of the indebtedness evidenced thereby and all other obligations of Maker to
Lender howsoever created and existing shall, at the option of the Lender in its sole discretion, immediately become due and payable without
demand upon or notice to Maker, and Lender shall be entitled to exercise all remedies as provided by law and/or equity.

 

Maker hereby waives presentment
for payment, demand, notice of dishonor and protest and agrees that (i) any collateral, lien or right of setoff securing any indebtedness
evidenced by this Note may, from time to time, in whole or in part, be exchanged or released, and any person liable on or with respect
to this Note may be released, all without notice to or further reservations of rights against Maker, any indorser, surety or guarantor
and all without in any way affecting or releasing the liability of Maker, any indorser, surety or guarantor, and (ii) none of the terms
or provisions hereof may be waived, altered, modified or amended except as Lender may consent thereto in writing.

 

    1

     

    

 

Maker hereby agrees to pay
all actual out-of-pocket costs and expenses, including reasonable attorneys’ fees, incurred by Lender in the collection of the indebtedness
evidenced by this Note, in enforcing any of the rights, powers, remedies and privileges of Lender hereunder, or in connection with any
further negotiations, modifications, releases, or otherwise incurred by Lender in connection with this Note. As used in this Note, the
term “attorneys’ fees” shall mean reasonable actual out-of-pocket charges and expenses for legal services rendered to
or on behalf of Lender in connection with the collection of the indebtedness evidenced by this Note at any time whether prior to the commencement
of judicial proceedings and/or thereafter at the trial and/or appellate level and/or in pre-judgment and post-judgment or bankruptcy proceedings.

 

In no event shall the rate
of interest charged under this Note exceed the rate that may legally be charged to Maker for obligations of this nature under the laws
of the State of New York, and any interest that may be paid in excess of the legal limit shall, at the option of Lender, be refunded to
Maker or shall be applied towards payment of the principal obligation under this Note.

 

Each party hereto irrevocably
and unconditionally submits to the jurisdiction of the courts of the State of New York sitting in New York County, and of the United States
District Court of the Southern District of New York and agrees that any such action, litigation, or proceeding may be brought in any such
New York State court or, to the fullest extent permitted by applicable law, in such federal court. Each party hereto agrees that a final
judgment in any such action, litigation, or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Nothing herein shall affect any right that the Lender may otherwise have to bring any action or
proceeding relating to this Note against Maker or its properties in the courts of any jurisdiction.

 

To the extent that Lender
receives any payment on account of any of Maker’s obligations, and any such payment(s) or any part thereof are subsequently invalidated,
declared to be fraudulent or preferential, set aside, subordinate and/or required to be repaid to a trustee, receiver or any other person
or entity under any bankruptcy act, state or federal law, common law or equitable cause, then, to the extent of such payment(s) received,
Maker’s obligations or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such
payment(s) had not been received by Lender and applied on account of Maker’s obligations.

 

Maker agrees that this Note
shall be deemed to have been made under and shall be governed by the laws of the State of New York in all respects, including matters
of construction, validity and performance. If any provisions of this Note shall be deemed unenforceable under applicable law, such provision
shall be ineffective, but only to the extent of such unenforceability, without invalidating the remainder of such provision or the remaining
provisions of this Note. All of the terms and provisions of this Note shall be applicable to and be binding upon each and every maker,
indorser, surety, guarantor, all other persons who are or may become liable for the payment hereof and their heirs, personal representatives,
successors or assigns.

 

Time is of the essence as
to each provision of this Note which requires Maker to take any action within a specified time period.

 

MAKER AND LENDER (BY ACCEPTING
THIS NOTE) HEREBY MUTUALLY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER MAKER OR LENDER AGAINST THE
OTHER AND BASED UPON, ARISING OUT OF, OR IN CONNECTION WITH, THIS NOTE, OR OTHER DOCUMENTS SECURING OR EXECUTED IN CONNECTION WITH THIS
NOTE.

 

At
any time the Maker may prepay all or any portion of the principal amount of this Note and any accrued and unpaid interest without penalty.

 

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IN WITNESS WHEREOF, the Maker has executed this Note
as of March 14, 2022.

  

	 	
    C-BOND SYSTEMS, INC.

    a Colorado corporation

     

     

    By:       /s/
    Scott R. Silverman

    Scott R. Silverman, its Chief
    Executive Officer

     

 

 

 

 

 

[Signature page to the Original Issue Discount
Promissory Note and Security Agreement]

 

 

    3Document

Exhibit 10.1

SHARE REPURCHASE AGREEMENT

This SHARE REPURCHASE AGREEMENT (this “Agreement”) is made and entered into as of January 12, 2022 by and between Scholastic Corporation, a Delaware corporation (the “Company”), and the Preliminary co-Executors of the Estate of M. Richard Robinson, Jr., (“Stockholder”).

RECITAL

WHEREAS, the Stockholder has offered to sell to the Company up to 300,000 shares of the Company's common stock, par value, $.01 per share ("Common Shares") at the price per share determined in accordance with Section 1 below, including the formula provided in Schedule A, (the "Transaction"); and

    WHEREAS, the Company has a share repurchase program pursuant to which up to approximately $63 million may be employed to repurchase Common Shares in the open market or through privately negotiated transactions; and 

WHEREAS, the Stockholder is a related party vis a vis the Company because the two Preliminary co-Executors are executive officers and, in one case, a director of the Company; and

    WHEREAS, because of the related party aspects of the Transaction, the Company referred consideration of the matter to the Company's Audit Committee (the "Committee"); and

    WHEREAS, the Committee approved the Transaction (subject to approval by all of the disinterested members of the full Board of Directors) after considering, among other factors, the following: (i) the Company's capacity to execute the Transaction under its existing share repurchase program, (ii) the limited amount of Common Shares that the Company has been able to repurchase subject to the Rule 10b-18 safe harbor guidelines since it restarted purchases under its share repurchase program, (iii) the Company's current share repurchase goals, (iv) the Company's available cash position, (v) the Company's desire to reverse the impact of dilutive issuance of Common Shares from compensatory programs, (vi) the ability to execute the Transaction without the need for the Company to pay brokerage fees on the shares to be repurchased, (vii) information obtained from an independent financial adviser selected by the Committee and (viii) the material terms of an indicative offer made to the Stockholder for a share purchase by an independent third party financial institution; and

    WHEREAS, the Board of Directors (without the participation of the interested director) approved the Transaction of the basis of the Committee's recommendation.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties hereto agree as follows:

1. Repurchase. Subject to the terms and conditions set forth in this Agreement, Stockholder hereby agrees to sell, assign, transfer, convey and deliver all its right, title and interest in and to 300,000 Common Shares (the "Repurchased Shares") to the Company free and clear of all liens, encumbrances, pledges, options, warrants, rights of first refusal, claims, charges, restrictions or claims or rights of third parties of any kind or nature (collectively, “Liens”), other than the lien of UBS Bank USA (the "UBS Lien") which will be released in connection with the repayment of a loan ("Stockholder Loan"), constituting an obligation of the Stockholder, out of the proceeds of this Transaction. The Company hereby agrees to repurchase and accept delivery of the Repurchased Shares in exchange for the payment of the Aggregate Cash Consideration, which is defined as the amount determined by multiplying (A) 300,000 by (B) the price per share number determined as set forth on Schedule A. Stockholder hereby acknowledges and agrees that receipt of the Aggregate Cash Consideration shall constitute complete 
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satisfaction of all obligations or any other sums due to such Stockholder with respect to repurchase of the Repurchased Shares.

2. Closing. The closing of the repurchase provided for herein (the “Closing”) shall take place on January 20, 2022 (or such other date as the parties may mutually agree) at the offices of the Company located at 557 Broadway, New York, New York 10012 (or at such other place upon which the parties hereto may mutually agree). At the Closing, the following shall occur:

a. Stockholder Deliveries. The Repurchased Shares are credited to or otherwise held in a securities account maintained by Stockholder at UBS Bank USA and are to be delivered through the facilities of The Depository Trust Company. The Stockholder shall take such actions necessary to provide appropriate instruction to UBS Bank USA to effect the transfer of the Repurchased Shares from Stockholder’s account to the account at a financial institution designated by the Company for the receipt of the Repurchased Shares so transferred in Schedule B to this Agreement. In connection with any account to which the Repurchased Shares are credited or otherwise held, Stockholder shall execute and deliver such other and further documents or instruments necessary, in the reasonable opinion of the Company, to effect a legally valid transfer to the Company hereunder. Substantially concurrently with the Closing, Stockholder will also provide evidence satisfactory to the Company that the Stockholder Loan has been repaid in full and that the UBS Lien has been released from the Repurchased Shares.

b. Company Deliveries. The Company shall deliver by wire transfer in immediately available funds out of the proceeds of the Aggregate Cash Consideration: (i) to UBS Bank USA to the account listed in Schedule C hereto that has been designated by UBS Bank USA in the amount set forth in Schedule C and (ii) the remainder of the Aggregate Cash Consideration to the account listed in Schedule D hereto that has been designated by Stockholder.

 3. No Further Ownership Interest. From and after the Closing, Stockholder shall have no further right or title to or interest in the Repurchased Shares or any dividends, distributions, equity interests or other rights in respect thereof.

 4. Representations and Warranties of Stockholder. Stockholder represents and warrants to the Company as follows:

a. Title to Shares. As of the date hereof, Stockholder owns good and marketable title to the Repurchased Shares and such Repurchased Shares are free and clear of all Liens, other than the UBS Lien. Except for this Agreement, Stockholder has not entered into or agreed to be bound by any other arrangements or agreements of any kind with any other Person with respect to the Repurchased Shares, including, but not limited to, arrangements or agreements with respect to the acquisition or disposition thereof or any interest therein or the voting of any such Repurchased Shares.

b. Binding Effect. This Agreement is a legal, valid and binding obligation of Stockholder, enforceable against Stockholder in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws relating to or affecting enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law).

c. Governmental Authorization; Third Party Consent. No approval, consent, compliance, exemption, authorization, or other action by or notice to, or filing with, any governmental authority or any other person in respect of any requirements of law is necessary or required by Stockholder in connection with the execution, delivery or performance by Stockholder of this Agreement, except for such approval, consent, compliance, exemption, authorization, or other action which, if not obtained or made, would not reasonably be likely to prevent or materially delay Stockholder from performing its obligations under this Agreement in all material respects.
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d. Brokers or Finders.  Stockholder has not employed or entered into any agreement with, nor is Stockholder subject to, any valid claim of any broker, finder, financial advisor, consultant, or other intermediary in connection with the transactions contemplated by this Agreement who might be entitled to a fee or commission in connection with such transactions.

e. Legal Proceedings. There are no legal proceedings pending or, to the knowledge of Stockholder, threatened, to which Stockholder is or may be a party, that (i) challenge the validity or enforceability of Stockholder’s obligations under this Agreement or (ii) seek to prevent, delay or otherwise would reasonably be expected to materially adversely affect the consummation by Stockholder of the transactions contemplated hereby.

f. Material Non-Public Information. Stockholder acknowledges and agrees that the Company may possess material, nonpublic information that has not been disclosed by the Company. Stockholder hereby further acknowledges that it is entering into this Agreement and the transactions contemplated hereby notwithstanding this disparity of information, if any, and waives any claims related to this information disparity.

g. Absence of Trading.  Stockholder has not transacted any purchases or sales of Common Shares (or any related securities) any time after December 31, 2021.

5. Representations and Warranties of the Company. The Company represents and warrants to Stockholder as follows:

a. Authority; Binding Effect. The Company is a corporation validly existing and in good standing under the laws of the State of Delaware and has all requisite power and authority and has taken all necessary action required for the due authorization, execution, delivery and performance by the Company of this Agreement and the consummation of the transactions contemplated herein. This Agreement is a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws relating to or affecting enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law).

b. No Violation. Neither the execution and delivery of this Agreement by the Company, nor the repurchase of the Repurchased Shares owned by Stockholder pursuant to this Agreement, will (i) result in a breach of its organizational documents, (ii) result in a default (or give rise to any right of termination, cancellation or acceleration) under any of the terms, conditions or provisions of any material agreement, lease or other instrument or obligation to which the Company is a party, except for such defaults (or rights of termination, cancellation or acceleration) as to which requisite waivers or consents have been obtained and are in full force and effect or which would not impair the Company’s ability to consummate the transactions contemplated by this Agreement, or (iii) violate any order, writ, injunction or decree applicable to the Company or any of the Company’s material assets.

c. Governmental Authorization; Third Party Consent. No approval, consent, compliance, exemption, authorization, or other action by or notice to, or filing with, any governmental authority or any other person in respect of any requirements of law is necessary or required by the Company in connection with the execution, delivery or performance by the Company of this Agreement, except for such approval, consent, compliance, exemption, authorization, or other action which, if not obtained or made, would not reasonably be likely to prevent or materially delay the Company from performing its obligations under this Agreement in all material respects.

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d. Brokers or Finders. Except for the Company's engagement of an investment banking firm identified to the Stockholder, as an advisor in connection with the transactions contemplated by this Agreement, the Company has not employed or entered into any agreement with, nor is the Company subject to, any valid claim of any broker, finder, consultant, financial advisor or other intermediary in connection with the transactions contemplated by this Agreement who might be entitled to a fee or commission in connection with such transactions.

e. Exchange Act Reports. The Company’s reports filed with the Securities and Exchange Commission (the “Commission”) pursuant to Section 13(a), 13(c) or 15(d) of the Securities Exchange Act of 1934, as amended, and any amendment or supplement thereto, did not, when filed with the Commission, and do not, as of the date hereof, contain an untrue statement of material fact or omit to state a material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading.

 6. Affirmative Covenants. 

(a)    The parties hereto acknowledge and agree that the Company shall submit to the Commission a report on Form 8-K disclosing the repurchase transaction following the Closing (the "Form 8-K").  Stockholder shall have the right to provide comments on the text of the Form 8-K prior to it being provided to the Commission.

(b)    Neither the parties hereto nor any of their related parties shall disclose the terms of this Agreement to any person, except as may be required by law or legal process (including any probate process applicable to the Stockholder) and except for any disclosure to UBS Bank USA that is reasonably necessary in connection with the release of the UBS Lien, the repayment of the Stockholder Loan and to facilitate delivery of the Repurchased Shares in connection with the Closing. The parties may, however, refer to the Form 8-K and its contents after it is submitted to the Commission.

(c)    Each party agrees that its representations and warranties shall be true and correct on the date of Closing.

     7. Miscellaneous.

a. Amendment. This Agreement may not be amended or waived in any respect except by a written agreement signed by the parties hereto.

b. Survival. Each of the representations, warranties, covenants and agreements contained in this Agreement shall survive the Closing and continue in full force and effect in accordance with its terms, but is subject to all applicable statutes of limitation, statutes of repose and other similar defenses provided in law or equity.

c. Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, agreements and understandings (both oral and written) with respect to such subject matter.

d. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original and all of which, when taken together, shall constitute one agreement. Delivery of an executed counterpart of a signature page of this Agreement by facsimile transmission or electronic image scan shall be effective as delivery of a manually executed counterpart of this Agreement.

e. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.

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f. Expenses. Each party shall bear its own expenses and fees in connection with the execution of this Agreement and the consummation of the transactions contemplated hereby.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above.
															
	 	 	 	 	 
	 	SCHOLASTIC CORPORATION
 	 
	 	By:  	/s/ Peter Warwick	 
	 	 	     Name:  	Peter Warwick	 
	 	 	     Title:  	Chief Executive Officer	 
	 
	 	THE PRELIMINARY CO- EXECUTORS OF THE ESTATE OF M. RICHARD ROBINSON, JR.
 	 
	 	By:  	 /s/ Iole Lucchese
	 
	 	 	     Name:  	Iole Lucchese	 
	 	 	     Title:  	Preliminary Co-Executor  and Designated Scholastic Special Purpose Executor	 
	 

			
	 

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SCHEDULE A
PRICE DETERMINATION FORMULA

    The price per Common Share to be paid shall be the product of (i) 0.958 and (ii) the closing price of a Common Share of Scholastic as of the end of the regular trading session (4:00 p.m. EST) on January 12, 2022.

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SCHEDULE B
COMPANY SECURITIES ACCOUNT INFORMATION

(Account name and address to which the repurchased shares shall be delivered)

Agent:          Computershare
Agent’s Address:    Newport Office Center VII
480 Washington Boulevard 29th Floor
Jersey City, New Jersey 07310
Attention: Mr. Cory McQuillen
Agent’s DTC No.:    50237
For Account:        Scholastic Corporation Treasury Account
Account No.:        redacted

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SCHEDULE C

Name and Address of UBS Bank Account
(for receipt of repayment proceeds)

(To be provided)

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SCHEDULE D

 (Name and address of Stockholder account for any remaining proceeds)

(To be provided)
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