Document:

c50186_ex10-2.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.2

FIRST AMENDMENT TO

STOCK PURCHASE AGREEMENT

     FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT (this “First Amendment”) dated as of August 31, 2007, by and among INCENTRA
SOLUTIONS, INC., a Nevada corporation (“Purchaser”) and THOMAS G. KUNIGONIS, JR., ("Shareholder").

RECITALS

     Purchaser and Shareholder are parties to that certain Stock Purchase Agreement dated August 31, 2007 (the “Purchase Agreement”). Capitalized terms not defined herein shall have the meaning
set forth in the Purchase Agreement. 

     WHEREAS, the parties desire to amend the Purchase Agreement on the terms and conditions set forth herein; 

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto intending to be legally bound do hereby agree as follows: 

     1. Waiver of Covenants and Closing Conditions. Purchaser acknowledges and accepts that as of Closing, notwithstanding the certificates of
Shareholder and of the Chief Financial Officer and Chief Operating Officer of the Company to be delivered at Closing, the Company will not have obtained consents from third parties required under the terms of agreements entered into between the
Company and such third parties, (collectively, the “Third Party Consents”). Purchaser hereby waives, as of the date hereof and as of Closing, the conditions and covenants set forth in the Purchase Agreement to the extent such conditions or
covenants are breached or not fulfilled as a result of the failure of the Company to obtain the Third Party Consents as of Closing, including without limitation the conditions to Closing set forth in subsection (l) of Section 6.2 of the Purchase
Agreement (but such waiver to apply only to the extent the failure or breach of such Closing conditions and related covenants arise from the failure to obtain the Third Party Consents). 

     2. Scope of Amendment.  Any provision of the Purchase Agreement inconsistent with the terms of this First Amendment is hereby amended. Except
as amended hereby, the Purchase Agreement remains unamended and in full force and effect. 

[Signature Page Follows]

     IN WITNESS WHEREOF, Purchaser and Shareholder have caused this Agreement to be signed as of the date first written above. 

	 	INCENTRA SOLUTIONS, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	Name: Thomas P. Sweeney III	 
	 	Title: Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	SHAREHOLDER	 
	 	 	 	 
	 	 	 	 
	 	Thomas G. Kunigonis, Jr.c50186_ex10-3.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.3

SECOND AMENDMENT TO 

STOCK PURCHASE AGREEMENT

     SECOND AMENDMENT TO STOCK PURCHASE AGREEMENT (this “Second Amendment”) dated as of September 5, 2007, by and among INCENTRA
SOLUTIONS, INC., a Nevada corporation (“Purchaser”) and THOMAS G. KUNIGONIS, JR., ("Shareholder").

RECITALS

     Purchaser and Shareholder are parties to that certain Stock Purchase Agreement dated August 31, 2007 (the “Purchase Agreement”) and that First Amendment to Stock Purchase Agreement dated as
of August 31, 2007. Capitalized terms not defined herein shall have the meaning set forth in the Purchase Agreement. 

     WHEREAS, the parties desire to further amend the Purchase Agreement on the terms and conditions set forth herein; 

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto intending to be legally bound do hereby agree as follows: 

     1. Waiver of Covenants and Closing Conditions. Purchaser acknowledges and accepts that as of Closing, notwithstanding the certificates of
Shareholder and of the Chief Financial Officer and Chief Operating Officer of the Company to be delivered at Closing, the Company will not have entered into written agreements with Hub City Media and Denali memorializing the existing business
arrangements between Hub City Media and Denali, respectively, and the Company, (collectively, the “Hub City and Denali Agreements”). Purchaser hereby waives, as of the date hereof and as of Closing, the conditions and covenants set forth
in the Purchase Agreement to the extent such conditions or covenants are breached or not fulfilled as a result of the failure of the Company to enter into the Hub City and Denali Agreements as of Closing, including without limitation the conditions
to Closing set forth in subsection (K) of Section 6.2 of the Purchase Agreement (but such waiver to apply only to the extent the failure or breach of such Closing conditions and related covenants arise from the failure to enter into the Hub City and
Denali Agreements). 

     2. Scope of Amendment.  Any provision of the Purchase Agreement inconsistent with the terms of this Second Amendment is hereby amended.
Except as amended hereby, the Purchase Agreement, as previously amended, remains unamended and in full force and effect. 

[Signature Page Follows]

     IN WITNESS WHEREOF, Purchaser and Shareholder have caused this Agreement to be signed as of the date first written above. 

	 	INCENTRA SOLUTIONS, INC. 
	 	 	 
	 	 	 
	 	By:	 
	 	Name: Thomas P. Sweeney III

      Title: Chief Executive Officer 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	SHAREHOLDER
	 	 	 
	 	 	 
	 	 
	 	Thomas G. Kunigonis, Jr.c50186_10-4.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.4

THIRD AMENDMENT TO 

STOCK PURCHASE AGREEMENT

     THIRD AMENDMENT TO STOCK PURCHASE AGREEMENT (this “Third Amendment”) dated as of September 5, 2007, by and among INCENTRA
SOLUTIONS, INC., a Nevada corporation (“Purchaser”) and THOMAS G. KUNIGONIS, JR., ("Shareholder").

RECITALS

     Purchaser and Shareholder are parties to that certain Stock Purchase Agreement dated August 31, 2007 (the “Purchase Agreement”), that First Amendment to Stock Purchase Agreement dated as of
August 31, 2007, and that Second Amendment to Stock Purchase Agreement dated as of September 5, 2007. Capitalized terms not defined herein shall have the meaning set forth in the Purchase Agreement. 

     WHEREAS, the parties desire to further amend the Purchase Agreement on the terms and conditions set forth herein; 

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto intending to be legally bound do hereby agree as follows: 

     1. Shareholder Withdrawal of Company Cash.  Shareholder hereby represents and warrants that, notwithstanding the provisions of Section 1.2(e)
of the Purchase Agreement that Shareholder shall, immediately prior to the Closing Date, cause the Company to pay out to Shareholder such amount of the Company’s cash on hand which would have leave Net Working Capital of not less than One
Million Dollars ($1,000,000.00) in Company, Shareholder has not as of the date hereof withdrawn all of such cash he is entitled to withdraw. Purchaser hereby agrees that, based on and in reliance upon such representation and warranty of
Shareholder, upon agreement between Purchaser and Shareholder as to the amount of Company cash which may be withdrawn which would have left Net Working Capital of not less than One Million Dollars ($1,000,000.00) in Company as of August 31,
2007, Purchaser shall promptly cause to be distributed to Shareholder that amount of cash from Company. 

     2. Scope of Amendment.  Any provision of the Purchase Agreement inconsistent with the terms of this Third Amendment is hereby amended. Except
as amended hereby, the Purchase Agreement, as previously amended, remains unamended and in full force and effect. 

[Signature Page Follows]

     IN WITNESS WHEREOF, Purchaser and Shareholder have caused this Agreement to be signed as of the date first written above. 

	 	INCENTRA SOLUTIONS, INC.
	 	 	 
	 	By:	 
	 	Name: Thomas P. Sweeney III

      Title: Chief Executive Officer 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	SHAREHOLDER
	 	 	 
	 	 	 
	 	 	 
	 	Thomas G. Kunigonis, Jr.c50186_10-5.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 10.5

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THIS NOTE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT AS TO THIS NOTE UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

	 

		 
		
UNSECURED PROMISSORY NOTE 
		 
		 

	
	 

	
	
$250,000.00 
		 
		 

		 
		
August 31, 
	
	 

		 
		 

		 
		
2007 
	

     FOR VALUE RECEIVED, Incentra Solutions, Inc., a Nevada corporation (the “Company”) and any successor corporation to the Company, hereby promises to pay to the order of THOMAS G. KUNIGONIS,
JR. and his assigns (together with his assigns, “Payee”), the principal amount of Two Hundred Fifty Thousand Dollars ($250,000.00) on the terms set forth below. The Company promises to pay interest on the principal amount of this Note
in arrears from and including the date hereof on the principal balance from time to time outstanding, computed daily, at an annual rate of five and one-quarter percent (5 1/4%).  Interest shall be calculated on the basis of actual number of days
elapsed over a year of 360 days. Notwithstanding any other provision of this Note, the holder hereof does not intend to charge and the Company shall not be required to pay any interest or other fees or charges in excess of the maximum permitted by
applicable law; any payments in excess of such maximum shall be refunded to the Company or credited to reduce principal hereunder. The Company may prepay any or all principal and accrued interest due under this Note at any time, upon ten (10) days
prior notice to holder, without penalty. 

     Twelve (12) equal payments of principal and interest in the amount of twenty-two thousand six hundred fifty three and 15/100 Dollars ($22,653.15) shall be due and payable without notice or demand,
the first payment being due on December 1, 2007, and the eleven (11) remaining payments being due on the first day of each March, June, September and December during the period beginning on January 1, 2008 and ending on September 1, 2010. For
purposes of this Note, each such date on which payment is due shall be referred to as a “Payment Due Date”. Payments shall be made by wire transfer of immediately available United States federal funds sent to an account or accounts
designated by the holder in accordance with the instructions furnished to the Company for that purpose.

     This Note constitutes the “Promissory Note” described in that certain Stock Purchase Agreement dated August 31, 2007 (the “Stock Purchase Agreement”), by and between the Company
and Payee, and is entitled to all of the benefits of the Stock Purchase Agreement. Unless defined herein, capitalized terms used herein that are defined in the Stock Purchase Agreement have the meaning given to such terms in the Stock Purchase
Agreement. 

The Company agrees to pay all costs, charges and expenses incurred by the Payee and its assigns (including, without limitation, costs of collection, court costs, and reasonable attorneys’ fees and

disbursements) in connection with the successful enforcement of the Payee’s rights under this Note (all such costs, fees and expenses being herein referred to as “Costs”).

 The Company hereby expressly waives presentment, demand, protest, notice of demand, dishonor and nonpayment of this Note, and all other notices or demands of any kind in connection with the delivery, acceptance, performance,
default or enforcement hereof.  The rights and remedies of the holder as provided herein shall be cumulative and concurrent and in addition to any other rights the Payee may have at law, in equity or otherwise, and may be pursued singularly,
successively or together at the sole discretion of the holder and may be exercised as often as occasion therefor shall occur.  The Company agrees that any delay or failure on the part of the Payee in exercising any rights or remedies hereunder will
not operate as a waiver of such rights, and further agrees that any payments and prepayments received hereunder will be applied first to Costs, then to interest and the balance to principal. The Payee shall not by any act, delay, omission or
otherwise be deemed to have waived any of its rights or remedies, and no waiver of any kind shall be valid unless in writing and signed by the party or parties waiving such rights or remedies. All payments under this Note shall be made without
counterclaim, offset or defense of any kind.

     This Note will be registered on the books of the Company or its agent as to principal and interest. This Note applies to, inures to the benefit of, and binds the successors and assigns of the parties
hereto; provided however that the Company shall not assign this Note without the prior written consent of the Payee, which consent may be withheld in Payee’s sole and absolute discretion. Any transfer of this Note by Payee will be effected only
by surrender of this Note to the Company and reissuance of a new note to the transferee.  The Payee and any subsequent holder of this Note receives this Note subject to the foregoing terms and conditions, and agrees to comply with the foregoing
terms and conditions for the benefit of the Company and any other Payees. 

     Any notice required or permitted under this Note shall be in writing and shall be deemed to have been given on the date of delivery, if personally delivered to the party to whom notice is to be given,
or on the third business day after mailing, if mailed to the party to whom notice is to be given, by certified mail, return receipt requested, postage prepaid, and addressed as follows:

     If to the Company, at

Incentra Solutions, Inc. 

1140 Pearl Street 

Boulder, CO 80302 

Attn: Chief Executive Officer

     If to Payee, at

Thomas Kunigonis 

85 Fairway Boulevard 

Monroe Township, NJ 08831

2

     or, in each case, to the most recent address, specified by written notice, given to the sender pursuant to this paragraph. 

     If any one or more of the following events ("Events of Default") shall occur, to wit:

     
 (a) Failure by the Company to make prompt payment, when due, of any payment due hereunder, and such failure continues for five (5) days after Payee gives written notice thereof to Company;

     
 (b) The failure by Company to observe, keep or comply with any provision or requirement contained in the Stock Purchase Agreement; or 

     
 (c) Failure by the Company to promptly perform or observe any other covenant, promise or agreement contained herein and such failure continues for five (5) days after Payee gives written notice thereof to Company; 

then, at any time thereafter, at the sole option of Payee, without further notice to Company, the unpaid principal balance and accrued interest, if any, shall become immediately due and payable without presentment, notice of
dishonor, demand, notice or protest of any kind, all of which are expressly waived by the Company. All sums coming due and payable under this paragraph shall bear interest after acceleration hereof at the rate of ten (10%) percent per annum or the
maximum rate permitted by law, whichever is less (the "Default Rate").

     This Note shall be governed by and construed in accordance with the laws of the State of Colorado.

      If any provision in this Note is held by a court of competent jurisdiction to be in violation of any applicable local, state or federal ordinance, statute, law, administrative or judicial decision, or public policy, and if such
court should declare such provision of this Note to be illegal or unenforceable as written, then such provision shall be given full force and effect to the fullest possible extent that (1) it is legal, valid and enforceable, (2) the remainder of
this Note shall be construed as if such illegal or unenforceable provision was not contained therein, and (3) the rights, obligations and interest of the Company and Payee under the remainder of this Note shall continue in full force and
effect.

      IN WITNESS WHEREOF, the Company has executed this Note under seal as of the date first written above. 

	 	 	
INCENTRA SOLUTIONS, INC.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Thomas P. Sweeney III 

Chief Executive Officer 

3

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