Document:

Form of Placement Agent Agreement

 

EXHIBIT 10.03

PLACEMENT AGENT AGREEMENT

		
	Mr. Christopher Miglino

	August 9, 2019

CEO

Social Reality, Inc.

465 Seaton Street

Los Angeles, CA 90013

Dear Mr. Miglino:

The purpose of this amended and restated letter agreement (the “Agreement”) is to set forth the terms and conditions pursuant to which WestPark Capital, Inc. (“WPC”) shall introduce Social Reality, Inc. and its related and affiliated entities (the “Company”) to one or more investors in connection with the proposed offering of up to $7.5 million of the Company’s Common Stock (the “Offering”) which are registered on the Company’s Form S-3/A Shelf Registration Statement, File No. 333-214644, which was declared effective by the Securities and Exchange Commission on November 28, 2016.  The terms of such Offering shall be mutually agreed upon by the Company and the investor(s).  WPC’s engagement under this Agreement shall be exclusive for a period of one week after the date hereof.  The identities of the investors to which WPC introduces the Company shall be proprietary information of WPC and shall not be divulged to third parties by the Company, nor used by the Company outside the scope of WPC’s engagement as described herein, other than as required by applicable law.

In consideration of the services rendered by WPC under this Agreement, the Company agrees to pay WPC the following fees and other compensation:

(a)

A cash fee payable immediately upon the closing of any portion of the Offering and equal to 7% of the aggregate capital raised.

(b)

$60,000 legal expense allowance ($20,000 to be paid upfront to commence documentation).

(c)

As additional compensation for WestPark’s services, the Company shall issue to WestPark or its designees at the Closing warrants (the “Placement Agent’s Warrants”) to purchase that number of shares of Common Stock equal to 6% of the aggregate number of securities sold in the Offering.  The Placement Agent’s Warrants will be exercisable at any time and from time to time, in whole or in part, during the four-year period commencing one year from the closing of the Offering, at a price per share equal to 125% of the price per share paid by investors for common 

                                         

Members FINRA & SIPC

1900 Avenue of the Stars, 3rd Floor * Los Angeles, CA 90067 * Tel (310) 843-9300 * Fax (310) 843-9304 * www.wpcapital.com

Los Angeles, CA * New York, NY * Boca Raton, FL

 

stock in the Offering.  The Placement Agent’s Warrants will provide for registration rights (including a one-time demand registration right and unlimited piggyback rights) and customary anti-dilution provisions (for stock dividends and splits and recapitalizations) consistent with FINRA Rule 5110, and will have a cashless exercise provision in the event the shares underlying the Placement Agent’s Warrants are not subject to an effective registration statement at the time the Placement Agent’s Warrants are exercised.

This Agreement shall be governed by and construed in accordance with the laws of the State of California, without regard to conflicts of law principles.  Any dispute arising out of this Agreement shall be settled by binding arbitration in Los Angeles County, California before a single arbitrator, who shall enforce the plain terms of this agreement, notwithstanding any law or policy to the contrary.  The Company shall indemnify WPC against any liabilities arising under the Securities Act of 1933, as amended, attributable to any information supplied or omitted to be supplied to any investor by the Company pursuant to this Agreement, except any liabilities that arise from (i) the gross negligence or willful misconduct of WPC or (ii) the distribution by WPC of any information regarding the Company after such time as the Company shall have notified WPC in writing that such information may be inaccurate or misleading or (iii) in the event that any information provided to the Company for inclusion in the Offering documents is false or misleading.  In no event shall the Company be liable for any settlement entered into without the Company’s prior written consent, such consent not to be unreasonably withheld.  The Company acknowledges and agrees that WPC is not and shall not be construed as a fiduciary of the Company and shall have no duties or liabilities to the equity holders or the creditors of the Company or any person by virtue of this Agreement or the retention of WPC hereunder, all of which are hereby expressly waived.  You further agree that we may rely upon, and are a third party beneficiary of, the representations and warranties, and applicable covenants, set forth in any agreements with investors in the Offering.

This Agreement constitutes the entire understanding and agreement between the parties hereto with respect to its subject matter and there are no agreements or understandings with respect to the subject matter hereof which are not contained in this Agreement.  This Agreement may be modified only in writing signed by the party to be charged hereunder.

If the foregoing correctly sets forth our agreement, please confirm this by signing and returning to us the duplicate copy of this letter.

			
	 
	Very truly yours,

	 
	 
	 

	 
	WestPark Capital, Inc.

	 
	 
	 

	 
	 
	 

	 
	By:

	 

	 
	 
	Name: Craig Kaufman

	 
	 
	Title:   Head of Investment Banking

                                         

Members FINRA & SIPC

1900 Avenue of the Stars, 3rd Floor * Los Angeles, CA 90067 * Tel (310) 843-9300 * Fax (310) 843-9304 * www.wpcapital.com

Los Angeles, CA * New York, NY * Boca Raton, FL

 

Agreed to and accepted

As of the dated first written above:

Social Reality, Inc.

By:  _________________________

       Name: Christopher Miglino

       Title:   CEO

                                         

Members FINRA & SIPC

1900 Avenue of the Stars, 3rd Floor * Los Angeles, CA 90067 * Tel (310) 843-9300 * Fax (310) 843-9304 * www.wpcapital.com

Los Angeles, CA * New York, NY * Boca Raton, FLqrhc-ex1027_160.htm

Exhibit 10.27

AMENDMENT TO THE QUEST RESOURCE HOLDING CORPORATION

2012 INCENTIVE COMPENSATION PLAN

WHEREAS, pursuant to Section 10(f) of the Quest Resource Holding Corporation 2012 Incentive Compensation Plan, as amended and restated (the “Plan”), the Board of Directors (the “Board”) of Quest Resource Holding Corporation (the “Company”) may amend, alter, suspend, discontinue or terminate the Plan, subject to stockholder approval of any increase in the number of Shares available under the Plan;

WHEREAS, capitalized terms used but not otherwise defined herein shall have the meaning ascribed to them in the Plan; and

WHEREAS, the Board desires to increase the number of Shares available under the Plan to 4,830,437 Shares. 

NOW, THEREFORE, in accordance with Section 10(f) of the Plan, the Plan shall be amended effective upon stockholder approval as follows: 

	
 
	
1.
	
Amendment.  Section 4(a) of the Plan is hereby amended and restated as follows:

“(a)Limitation on Overall Number of Shares Available for Delivery Under Plan. Subject to adjustment as provided in Section 10(c) hereof, the total number of Shares reserved and available for delivery under the Plan shall be equal to 4,830,437 Shares. Any Shares delivered under the Plan may consist, in whole or in part, of authorized and unissued shares or treasury shares.”

IN WITNESS WHEREOF, this Amendment to the Plan is adopted as of as of this 10th day of May, 2019.

 

				
	
 
	
QUEST RESOURCE HOLDING CORPORATION 

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ S. Ray Hatch

	
 
	
 
	
Name:
	
S. Ray Hatch

	
 
	
 
	
Title:
	
Chief Executive OfficerBlueprint

Exhibit 10.1

AMENDMENT NO. 1 TO

TENAX THERAPEUTICS, INC.

2016 STOCK INCENTIVE PLAN

 

This
Amendment No. 1 (the “Amendment”) to the Tenax
Therapeutics, Inc. 2016 Stock Incentive Plan (the
“Plan”) to increase the number of shares of common
stock issuable under the Plan is made on April 18, 2019, effective
as of the time provided below.

 

WHEREAS, Tenax Therapeutics, Inc. (the
“Company”) has heretofore adopted the
Plan;

 

WHEREAS, as a result of the February 23,
2018 reverse stock split, the number of shares of the
Company’s common stock issuable under the Plan was reduced
from 3,000,000 to 150,000; and

 

WHEREAS, the Board of Directors of the
Company has approved the Amendment contingent upon the approval of
the Amendment by the stockholders of the Company.

 

NOW, THEREFORE, BE IT RESOLVED, that, pursuant to
Section 17.1 of the Plan, the Plan is hereby amended as follows,
effective as of such time as the Amendment is approved by the
stockholders of the Company:

 

Section
4.1 of the Plan is amended by replacing “three million
(3,000,000) Shares” with seven hundred fifty thousand
(750,000) Shares.”

 

Except
as expressly amended hereby, all provisions of the Plan shall
remain unamended and shall continue to be, and shall remain, in
full force and effect in accordance with their respective
terms.

 

The
Amendment shall have no effect until such time as it is approved by
the stockholders of the Company.

 

The
provisions of the Amendment shall be governed by and interpreted in
accordance with the laws of the State of Delaware.Exhibit

EXHIBIT 10.1
FOURTH AMENDMENT TO THE CREDIT AND GUARANTY AGREEMENT 

FOURTH AMENDMENT TO THE CREDIT AND GUARANTY AGREEMENT, dated as of February 15, 2019 (this “Fourth Amendment”), among PRIORITY PAYMENT SYSTEMS HOLDINGS LLC, a Georgia limited liability company (“PPSH” or the “Borrower Representative”) and SUNTRUST BANK, as administrative agent under the Credit Agreement referred to below (in such capacity, including any of its permitted successors and assigns, the “Administrative Agent”). All capitalized terms used herein (including in this preamble) and not otherwise defined herein shall have the respective meanings provided such terms in the Credit Agreement referred to below.
PRELIMINARY STATEMENTS
WHEREAS, the Borrowers have entered into that certain Credit and Guaranty Agreement, dated as of January 3, 2017, among the Borrowers, Holdings, the other Guarantors party thereto from time to time, the lenders party thereto from time to time (collectively, the “Lenders” and each individually, a “Lender”), and SunTrust Bank, as Administrative Agent, an Issuing Bank, Swing Line Lender and Collateral Agent (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time to, but not including, the date hereof, the “Credit Agreement”); and
WHEREAS, the Administrative Agent and the Borrower Representative  have jointly identified a defect of an immaterial nature in the Credit Agreement and, as a consequence thereof, the Administrative Agent and the Borrower Representative wish to amend the Credit Agreement as provided in Section 2 hereof and without any further action or consent of any other party to the Credit Agreement, as permitted by Section 10.05(e) of the Credit Agreement.
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which is acknowledged by each party hereto, it is agreed that:
SECTION 1.  Rules of Construction.  The rules of construction specified in Section 1.03 of the Credit Agreement shall apply to this Fourth Amendment, including the terms defined in the preamble and recitals hereto.
SECTION 1.      Technical Amendment to the Credit Agreement. Section 5.01 of the Credit Agreement is hereby amended by inserting the following new paragraph immediately after clause (o) thereof:
“Notwithstanding the foregoing, the obligations in Section 5.01(b) and (c) may be satisfied with respect to financial information of Holdings and its Subsidiaries by furnishing (I) the applicable financial statement of Holdings (or any direct or indirect parent of Holdings) or (II) Holdings’ (or any direct or indirect parent thereof), as applicable, Form 10-K or 10-Q, as applicable, filed with the SEC; provided that, with respect to clauses (I) and (II), (i) to the extent such information relates to a parent of Holdings, such information is accompanied by consolidating information (which may be set forth in footnotes to the financial information) that explains in reasonable detail the differences between the information relating to such parent and its Subsidiaries, on the one hand, and the information relating to Holdings and its Subsidiaries on a standalone basis, on the other hand and (ii) to the extent such information is in lieu of information required to be provided under Section 5.01(c), such materials are accompanied by a report and opinion of RSM US LLP or any other independent certified public accounting firm of nationally recognized standing 

	
			
	 
	 
	 

reasonably satisfactory to the Administrative Agent (such consent not to be unreasonably withheld, delayed or conditioned), which report shall be unqualified as to “going concern” and scope of audit (other than any qualification or exception that is solely with respect to, or resulting solely from, (A) an upcoming maturity date of any of the Obligations or (B) any potential inability to satisfy a financial maintenance covenant on a future date or in a future period), and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Holdings (or such parent entity) and its Subsidiaries as at the dates indicated and the results of their operations and their Cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements have been made in accordance with generally accepted auditing standards).”
SECTION 2.      Condition of Effectiveness of this Fourth Amendment.  After the execution of this Fourth Amendment by the parties hereto, this Fourth Amendment shall become effective without any further action or consent of any other party to any Credit Document if the same is not objected to in writing by the Requisite Lenders within five (5) Business Days following receipt of notice hereof (such date, the “Fourth Amendment Effective Date”), subject to the following conditions:
(a)    The Administrative Agent shall have received a fully executed copy of the fourth amendment to the Subordinated Credit Agreement (the “Subordinated Credit Agreement Amendment“), in form and substance reasonably satisfactory to the Administrative Agent.
(b)    The effectiveness of the Subordinated Credit Agreement Amendment shall have occurred or shall occur concurrently with the effectiveness of this Amendment.
SECTION 3.      Representations and Warranties. In order to induce the Administrative Agent to enter into this Fourth Amendment, each Credit Party represents and warrants to the Administrative Agent on and as of the date hereof, that:
(a)    each Credit Party hereto has all requisite power and authority to execute, deliver and perform its obligations under this Fourth Amendment and the Credit Agreement, in each case, to which it is a party to and to carry out the transactions contemplated hereby; 
(b)    the execution, delivery and performance of this Fourth Amendment have been duly authorized by all necessary action on the part of each Credit Party that is a party hereto; and
(c)    this Fourth Amendment has been duly executed and delivered by each Credit Party that is a party hereto and is the legally valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance with its respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability.
SECTION 4.      Reference to and Effect on the Credit Agreement and the other Credit Documents.
(a)    On and after the Fourth Amendment Effective Date, (a) each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Fourth Amendment and (b) all references in each of the Credit Documents referring to the Credit Agreement shall be deemed to be a reference to the Credit Agreement, as amended by this Fourth Amendment.

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(b)    The Credit Agreement and each of the other Credit Documents, as specifically amended by this Fourth Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Credit Parties, as amended by this Fourth Amendment.
(c)    The execution, delivery and effectiveness of this Fourth Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Credit Documents, nor constitute a waiver of any provision of any of the Credit Documents.  
(d)    On and after the effectiveness of this Fourth Amendment, this Fourth Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents.  
		
	SECTION 5.  
	Miscellaneous Provisions.

a.Ratification.  This Fourth Amendment is limited to the matters specified herein and shall not constitute a modification, acceptance or waiver of any other provision of the Credit Agreement or any other Credit Document.  Nothing herein contained shall be construed as a substitution or novation of the obligations outstanding under the Credit Agreement or any other Credit Document or instruments securing the same, which shall remain in full force and effect as modified hereby or by instruments executed concurrently herewith.
b.Governing Law; Submission to Jurisdiction, Waiver of Jury Trial, Etc.  THIS FOURTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. Sections 10.15 and 10.16 of the Credit Agreement are incorporated by reference herein as if such Sections appeared herein, mutatis mutandis.
c.Severability.  Section 10.11 of the Credit Agreement is incorporated by reference herein as if such Section appeared herein, mutatis mutandis.
d.Counterparts; Headings.  This Fourth Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery by telecopier, .pdf or other electronic imaging means of an executed counterpart of a signature page to this Fourth Amendment shall be effective as delivery of an original executed counterpart of this Fourth Amendment.  The Administrative Agent may also require that signatures delivered by telecopier, .pdf or other electronic imaging means be confirmed by a manually signed original thereof; provided that the failure to request or deliver the same shall not limit the effectiveness of this Fourth Amendment or signature delivered by telecopier, .pdf or other electronic imaging means.  Section headings herein are included for convenience of reference only and shall not affect the interpretation of this Fourth Amendment.
e.Costs and Expenses. The Borrowers hereby agree to pay and reimburse the Administrative Agent and the Lead Arranger for their respective reasonable and documented out-of-pocket expenses in connection with the negotiation, preparation, syndication and execution and delivery of this Fourth  Amendment, including without limitation, the reasonable fees, charges and disbursements of one counsel for the Administrative Agent and the Lead Arranger, all in accordance with Section 10.02 of the Credit Agreement.

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IN WITNESS WHEREOF, the parties hereto have executed and delivered this Fourth Amendment as of the date first above written. 
PRIORITY PAYMENT SYSTEMS 
HOLDINGS LLC, as the Borrower Representative
 
By: /s/ THOMAS C. PRIORE
Name:  Thomas C. Priore
Title:  CEO

[Signature Page to Priority Payments – Fourth Amendment to Credit Agreement]
	
			
	 
	 
	 

SUNTRUST BANK, as Administrative Agent 

By:  /s/ LOCKSLEY RANDLE 
Name:  Locksley Randle
Title:  Vice President

[Signature Page to Priority Payments – Fourth Amendment to Credit Agreement]

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