Document:

vnue_ex101.htm

EXHIBIT 10.1

 

License Agreement

 

This License Agreement (this "Agreement") is made effective as of July 10, 2017 between RockHouse Live Media Productions, Inc., of 1779 Kirby Parkway 1-332, Memphis, Tennessee 38138 and VNUE, Inc., of 104 W. 29th 11th Floor, New York, New York 10001. 

 

In the Agreement, the party who is granting the right to use the licensed property will be referred to as "RockHouse Live Media Productions," and the party who is receiving the right to use the licensed property will be referred to as "VNUE." 

 

The parties agree as follows: 

 

1. GRANT OF LICENSE. RockHouse Live Media Productions owns The DiscLive Network brand, website, intellectual property, inventory, equipment and all assets connected to the business of "instant live" recording. (the "Authored Work"). In accordance with this Agreement, RockHouse Live Media Productions grants VNUE an exclusive license to use the Authored Work. RockHouse Live Media Productions retains title and ownership of the Authored Work and derivative works will be assigned to Licensor by Licensee. 

 

2. PAYMENT OF ROYALTY. VNUE will pay to RockHouse Live Media Productions a royalty which shall be calculated as follows: 5% of sales. The royalty shall be paid monthly, starting August 1st, 2017. With each royalty payment, VNUE will submit to RockHouse Live Media Productions a written report that sets forth the calculation of the amount of the royalty payment. 

 

3. MODIFICATIONS. Unless the prior written approval of RockHouse Live Media Productions is obtained, VNUE may not modify or change the Authored Work in any manner. 

 

4. DEFAULTS. If VNUE fails to abide by the obligations of this Agreement, including the obligation to make a royalty payment when due, RockHouse Live Media Productions shall have the option to cancel this Agreement by providing 60 days' written notice to VNUE. VNUE shall have the option of preventing the termination of this Agreement by taking corrective action that cures the default, if such corrective action is taken prior to the end of the time period stated in the previous sentence, and if there are no other defaults during such time period. 

 

5. CONFIDENTIAL INFORMATION. The term "Confidential Information" means any information or material which is proprietary to RockHouse Live Media Productions, whether or not owned or developed by RockHouse Live Media Productions, which is not generally known other than by RockHouse Live Media Productions, and which VNUE may obtain through any direct or indirect contact with RockHouse Live Media Productions. Regardless of whether specifically identified as confidential or proprietary, Confidential Information shall include any information provided by RockHouse Live Media Productions concerning the business, technology and information of RockHouse Live Media Productions and any third party with which RockHouse Live Media Productions deals, including, without limitation, business records and plans, trade secrets, technical data, product ideas, contracts, financial information, pricing structure, discounts, computer programs and listings, source code and/or object code, copyrights and intellectual property, inventions, sales leads, strategic alliances, partners, and customer and client lists. The nature of the information and the manner of disclosure are such that a reasonable person would understand it to be confidential. 

 
	 
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A. "Confidential Information" does not include: 

 

- matters of public knowledge that result from disclosure by RockHouse Live Media Productions; 

- information rightfully received by VNUE from a third party without a duty of confidentiality; 

- information independently developed by VNUE; 

- information disclosed by operation of law; 

- information disclosed by VNUE with the prior written consent of RockHouse Live Media Productions; 

- any other information that both parties agree in writing is not confidential. 

 

6. PROTECTION OF CONFIDENTIAL INFORMATION. VNUE understands and acknowledges that the Confidential Information has been developed or obtained by RockHouse Live Media Productions by the investment of significant time, effort and expense, and that the Confidential Information is a valuable, special and unique asset of RockHouse Live Media Productions which provides RockHouse Live Media Productions with a significant competitive advantage, and needs to be protected from improper disclosure. In consideration for the receipt by VNUE of any Confidential Information, VNUE agrees as follows: 

 

A. No Disclosure. VNUE will hold the Confidential Information in confidence and will not disclose the Confidential Information to any person or entity without the prior written consent of RockHouse Live Media Productions. 

 

B. No Copying/Modifying. VNUE will not copy or modify any Confidential Information without the prior written consent of RockHouse Live Media Productions. 

 

C. Unauthorized Use. VNUE shall promptly advise RockHouse Live Media Productions if VNUE becomes aware of any possible unauthorized disclosure or use of the Confidential Information. 

 

D. Application to Employees. VNUE shall not disclose any Confidential Information to any employees of VNUE, except those employees who are required to have the Confidential Information in order to perform their job duties in connection with the limited purposes of this Agreement. Each permitted employee to whom Confidential Information is disclosed shall sign a non-disclosure agreement substantially the same as this Agreement at the request of RockHouse Live Media Productions. 

 

7. ARBITRATION. The parties will attempt to resolve any dispute arising out of or relating to this Agreement through friendly negotiations amongst the parties. If the matter is not resolved by negotiation within 30 days, the parties will resolve the dispute using the below Alternative (ADR) procedure. Any controversies or disputes arising out of or relating to this Agreement will be resolved by binding arbitration under the rules of the American Arbitration Association. The arbitrator's award will be final, and judgment may be entered upon it by any court having proper jurisdiction. 

 

8. WARRANTIES. Neither party makes any warranties with respect to the use, sale or other transfer of the Authored Work by the other party or by any third party, and VNUE accepts the product "AS IS." In no event will RockHouse Live Media Productions be liable for direct, indirect, special, incidental, or consequential damages, that are in any way related to the Authored Work. 

 

9. NON-EXCLUSIVE LICENSE TO LICENSOR. As of the effective date, VNUE grants back to RockHouse Live Media Productions a non-exclusive royalty-free license to use the Authored Work as RockHouse Live Media Productions sees fit, including for the creation of derivative works; provided, however, this license shall not limit VNUE's rights and public rights under this License. 

 

10. TRANSFER OF RIGHTS. This Agreement shall be binding on any successors of the parties. Neither party shall have the right to assign its interests in this Agreement to any other party, unless the prior written consent of the other party is obtained. 

 
	 
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11. TERMINATION. This Agreement may be terminated by RockHouse Live Media Productions by providing 30 days' written notice to the other party. This Agreement shall terminate automatically on June 20, 2020. 

 

12. ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties. 

 

13. AMENDMENT. This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties. 

 

14. SEVERABILITY. If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid or enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited. 

 

15. WAIVER OF CONTRACTUAL RIGHT. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. 

 

16. APPLICABLE LAW. This Agreement shall be governed by the laws of the State of Tennessee. 

 

17. SIGNATORIES. This Agreement shall be signed on behalf of RockHouse Live Media Productions by Zach Bair, President and on behalf of VNUE by Matthew Carona, COO & Director and effective as of the date first above written. 

 

 

	
Licensor: 

RockHouse Live Media Productions, Inc. 
	
	 	 	 
	By:	
/s/ Zach Bair
	
	
 
	
Zach Bair 
	 
	 	
President 
	 
	  	 	 
	
  
	
  
	
 

	
Licensee: 
	
 

	
VNUE, Inc. 
	
 

	
 
	
 
	
 

	
By:
	
/s/ Matthew Carona 
	
 

	
 
	Matthew Carona 	
 

	
 
	COO & Director 	
 

 

	 
	
3Blue Sphere Corporation 8-K

 

Exhibit 10.1

 

AMENDMENT AGREEMENT

THIS AMENDMENT is made and entered
into as of July 12, 2017 (the “AMENDMENT AGREEMENT”)

WHEREAS

 

A.

 On 29 June 2017, the undersigned Blue Sphere Corporation (as BUYER) and Pronto Verde AG (as
SELLER) executed the Share Purchase Agreement (such agreement with all related annexes and/or related documentation, the “SPA”)
regulating terms and conditions of the transfer - subject to materialization of the CONDITIONS PRECEDENT provided under Section
4 of the SPA - of the entire shareholding in the SPV that, at the CLOSING DATE, will be entirely owned by Pronto Verde AG;

 

B..

On the same date, Pronto Verde AG entered into a share purchase agreement with Futuris S.r.l.
and Segati Friuli S.r.l. (the ORIGINAL SHAREHOLDERS) regarding the purchase of the entire capital of the SPV, to be subsequently
sold to the BUYER;

 

C.

Capitalized terms used in this AMENDMENT AGREEMENT and not otherwise defined herein shall
have the same meaning ascribed to them in the SPA;

 

D.

According
to Section 6.1 of the SPA the CLOSING DATE has been agreed to occur no later than July 14, 2017;

 

E.

Due
to certain delays and unforeseen situations it is not possible to comply with the established CLOSING DATE term under point D.
above and accordingly the PARTIES have agreed to post-pone the CLOSING DATE and to make certain amendments to the SPA;

 

F. 

BUYER intends to assign its rights and obligations under the SPA, as permitted by Section
13.7 of the SPA, to its wholly owned subsidiary Bluesphere Italy S.r.l.;

 

G.

The
PARTIES, therefore, now wish to amend and supplement the SPA as set out in this AMENDMENT AGREEMENT.

 

1.

Materialization
of certain Conditions Precedent to Closing A

 

The
PARTIES acknowledge that actions and transactions to be performed prior to the CLOSING DATE referred to in Section 4.1(J) of the
SPA have been performed.

 

    	 		 

    	 

    

 

2. 

Assignment of the SPA pursuant to its Section 13.7

 

The BUYER,
pursuant to Section 13.7 of the SPA, hereby assigns the SPA and all of its rights, titles or interests arising out of the SPA to
its entirely owned subsidiary, Bluesphere Italy S.r.l., a limited liability company incorporated and existing under the laws of
Italy, having its registered office in Milan, C.so G. Matteotti no. 1, 20121 (MI), registered with the Companies’ Register
of Milan under no. MI-2124774, Vat Code No. 09967150963 who executes this AMENDMENT AGREEMENT for acknowledgement and acceptance.

 

3. 

Amendments to the SPA pursuant to Section 13.4

 

3.1

General
amendments

 

The PARTIES understand
and agree that Sections 1, 6, 7, 8, 10 of the SPA are amended as follows:

 

(a) 

the definition of “INTERIM FINANCIAL STATEMENTS” provided for in Section 1.1 is
replaced for all purposes of the SPA by the following definition: “means the financial statements as of June 30, 2017
of the SPV.”;

 

(b)

the
definition of “REFERENCE DATE” provided for in Section 1.1 is replaced for all purposes of the SPA by the following
definition: “means 30 June 2017”;

 

(c)

the
content of Section 6.1 is replaced for all purposes of the SPA by the following provision: “Without prejudice to the
provisions of SECTION 4, the CLOSING shall take place on the CLOSING DATE at the office of the Public Notary Ruben Israel in Milan,
on July 31, 2017 (the “CLOSING DATE”) or in any other prior date mutually agreed in writing by the Parties.”;

 

(d)

the
content of Section 7.2 is replaced for all purposes of the SPA by the following provision: “In order to evidence the
existence of the requirements indicated in Section 7.1 and to fix the PURCHASE PRICE the ORIGINAL SHAREHOLDERS, the SELLER and
the BUYER shall cooperate with the SPV in order to prepare and deliver to the AUDIT FIRM, within 45 days after the CLOSING DATE,
a draft financial statement of the SPV as of the CLOSING DATE.”;

 

(e) 

the content of Section 8.1(vi) is replaced for all purposes of the SPA by the following provision:
“Participations in other companies. The SPV does not own any participation in other companies, entities or joint-ventures
except for (i) G3Oil and (ii) Komaros Agricultura S.r.l. – whose sale and disposition is regulated by Section 12.1. (v),
(vi), (vii), (viii) and (ix) – and it is not bound by any commitment to acquire any such participation or to invest in any
companies, entities or joint-venture.”;

 

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(f) 

in light of the postponement of the CLOSING DATE, as hereby amended pursuant to Clause 3.1(c)
of this AMENDMENT AGREEMENT, the PARTIES have agreed to supplement Section 10.2 of the SPA with the following wording: “For
clarity sake, the PARTIES recognize that lending of funds to the SPV by the shareholders to cover the service of the bank debt
of the month of July 2017 is considered a transaction in the ordinary and normal course of business and accordingly permitted under
the SPA. In addition, the PARTIES agree that the SPV is allowed at its own discretion to enter before the CLOSING DATE (i) into
a contract for the supply of oil up to 15 September 2017, with the supplier chosen by the SPV at terms and conditions at its discretion,
strictly in compliance with market standard terms and conditions for this kind of transactions. Such contract will be reflected
in the CLOSING FINANCIAL STATEMENT and will be taken into account for the calculation of the ADJUSTED PRICE; and (ii) into shareholders’
loans with FUTURIS S.r.l. granting and paying to the same SPV amounts up to the maximum amount of € 150,000 (one hundred and
fifty/00) in order to endow the SPV with the money necessary to meet its obligations before the CLOSING DATE. Such loans will be
reflected in the CLOSING FINANCIAL STATEMENT and will be taken into account for the calculation of the ADJUSTED PRICE. Furthermore,
upon cash-in of the invoices (a) no. 1-008 T0101371 on 20.06.2017 amounting to € 63.016,17 and (b) no. 1-009 T0101371 on 29.06.2017
amounting to € 104.195,17 pertaining receivables against the GSE, the SPV is allowed to use the amount received in order to
repay the shareholders’ loan granted by FUTURIS S.r.l. to SPV up to an equal amount. Such repayment will be reflected in
the CLOSING FINANCIAL STATEMENT and will be taken into account for the calculation of the ADJUSTED PRICE”.

 

In addition
to and as a consequence of the amendments to the SPA indicated from letter (a) to (f) above, the SELLER and the BUYER agree on
the following further amendments and clarifications, also related to the Exhibits and Annexes attached to the SPA:

 

(g) 

in light of the amendment under letter (a) above, Exhibit 8.1(vii)b is attached to the SPA
and currently representing the financial statements as of April 30, 2017 shall be substituted with the SPV financial statements
as of June 30, 2017 that the SELLER shall cause the SPV to prepare and deliver to the BUYER no later than July 20, 2017;

 

(h)

the
effective date to be indicated under Article 10 of the Oil Supply Agreement with ISG Sviluppo SA attached as Annex I to the GPOMA
(i.e. Exhibit 3(II)(B)(vi) of the SPA) is September 15, 2017;

 

(i)

PV’s
obligations under the GPOMA exclusively with regard to the Vegetal Oil supply will start from September 15, 2017. Therefore, the
SPV and/or the BUYER will be responsible for the Vegetal Oil supply for the period from the CLOSING DATE up to September 15, 2017
(the “START-UP PERIOD”). Accordingly, without prejudice to PV’s other commitments under the GPOMA, the PARTIES
agree that for the purposes of the Plant EBITDA calculation for the START-UP PERIOD the Vegetal Oil price will be conventionally
indicated in Euro 720,00/ton and any difference in excess will be excluded from Plant EBITDA calculation and be exclusively borne
by the SPV;

 

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(j) 

in light of letter (h) above, the BUYER and the SELLER agree that 100€/ton to be paid
in the Escrow Account (as defined under Section 8.2 of the GPOMA) pursuant to Section 4.1.1 of the GPOMA will start to be paid
beginning from the effective date of the Vegetal Oil supply agreement with ISG Sviluppo SA after the START-UP PERIOD;

 

(k)

in
light of letter (c) above and taking into account the provisions of Exhibit 3.3(II) to the SPA, the PARTIES acknowledge that there
is a time mismatch in the creation of the APB Escrow. Accordingly, SELLER undertakes to use the PRICE ANITICIPATION of EUR 150,000
to be paid by BUYER to SELLER under the ENERGYECO SPA exclusively to finance the purchase by ENEREGYECO S.r.l. of the DENOX Equipment
necessary to complete the CANTU’ PLANT. SELLER shall deliver to BUYER no later than 31 July, 2017 evidence of the purchase
order placed for the purchase and installation of the DENOX Equipment.

 

4. 

Miscellaneous

 

4.1

Recitals

 

The recitals to this AMENDMENT
AGREEMENT form an integral part thereof.

 

4.2

Survival.
No other change

 

Except as set forth in
this AMENDMENT AGREEMENT, the SPA is unaffected and shall continue in full force and effect in accordance with its terms. If there
is conflict between this AMENDMENT AGREEMENT and the SPA, the terms of this AMENDMENT AGREEMENT will prevail.

 

None of the provisions
and/or statements in this AMENDMENT AGREEMENT shall be interpreted so as to waive, change or modify any of the rights or obligations
of the PARTIES under the SPA, or in any way modify the PARTIES’ liabilities under the SPA, including, without limitation,
any right of the BUYER pursuant to in connection with any breach of any of the representations and warranties given by the SELLER
under the SPA. Except as explicitly set out herein, no other amendments to the SPA are made. Subject only to the modification
referred to in this AMENDMENT AGREEMENT, the SPA shall remain in full force and effect and where necessary shall be read and construed
and be enforceable as if the terms of this AMENDMENT AGREEMENT were inserted.

 

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4.3

Counterparts

 

This
AMENDMENT AGREEMENT may be executed and delivered in counterparts, each of which will be deemed an original.

 

4.4

Applicable
Law – effectiveness

 

This AMENDMENT AGREEMENT
shall be governed by, and construed and interpreted in accordance with, the laws of the Italian Republic.

 

This AMENDMENT AGREEMENT
is valid and effective from the date of 12 July 2017.

 

4.5

Disputes

 

The scope of application
of the arbitration clause set forth in Section 13.9 of the SPA is extended so as to include all disputes arising out of or in connection
with this AMENDMENT AGREEMENT.

 

 

July 12, 2017

 

	Blue Sphere Corp.	Bluesphere Italy S.r.l.
	 	 
	/s/ Shlomo Palas	 	/s/ Elroy Amitzur	 
	Shlomo Palas	Elroy Amitzur
	CEO	 
	 	 
	 	 
	Pronto Verde AG	 
	 	 
	/s/ Giovanni di Vincenzo	 	 
	Giovanni di Vincenzo	 
	CEO	 

 

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