Document:

EX-10.3

 Exhibit 10.3 

ASSIGNMENT AND ASSUMPTION OF LEASE 
  

					
	THE STATE OF FLORIDA	 	§	  	
		 	§	  	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF                         	 	§	  	

 THAT, WINTER HAVEN CAPITAL CENTER, LLC, a Florida limited liability company (“Assignor”) hereby
transfers, assigns and sets over unto HCII-7375 CYPRESS GARDENS BOULEVARD, LLC a Delaware limited liability company (“Assignee”), that certain lease (the “Lease”) with tenants demising space in the premises (the
“Premises”) described in Exhibit A attached hereto and made a part hereof for all purposes, and the Lease and any guaranty in connection therewith, together with all amendments thereto and modifications thereof. 

TO HAVE AND TO HOLD the Leases, together with any and all security deposits, prepaid rents, rights and appurtenances thereto in anywise
belonging to Assignor unto Assignee, its successors, legal representatives and assigns FOREVER, and Assignor does hereby bind itself and its successors and assigns to WARRANT AND FOREVER DEFEND all and singular the ownership of the landlord’s
interest in the Leases unto Assignee, its successors, and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof by, through or under Assignor, but not otherwise. 

Assignor indemnifies and agrees to hold Assignee harmless from and against any loss, cost, damage or expense incurred by Assignee and arising
from or in connection with any liabilities or obligations of the landlord under the Leases (including specifically, without limitation, the liabilities and obligations of the landlord under the Leases with respect to security deposits) attributable
to the period prior to the date hereof, and Assignor shall be solely liable for such liabilities and obligations. 
 Assignee, by its
acceptance hereof, agrees to assume and indemnify and hold Assignor harmless from and against all liabilities and obligations of the landlord under the Leases (including specifically, without limitation, the liabilities and obligations of the
landlord under the Leases with respect to security deposits, the receipt of which Assignee acknowledges was made by credit to Assignee to the extent shown on the closing statement for Assignee’s acquisition of the Premises) to the extent same
arise or are otherwise attributable to the period from and after the date hereof, but not otherwise; provided, however, (a) Assignee shall have no liability to indemnify and hold Assignor harmless from and against any liability or obligation
arising under the Leases prior to the date hereof even though same may be subject to a claim brought after the date hereof; and (b) Assignee shall have no liability for the payment of any tenant finish costs or leasing commissions attributable
to any of the Leases (including any commissions payable in connection with any renewal or expansion thereof) except as and to the extent expressly set forth on Exhibit B attached hereto and made a part hereof for all purposes, but not
otherwise. 

 This Assignment and Assumption of Leases may be executed in multiple counterparts, each of which
shall be deemed to be an original and all of which together shall constitute one and the same instrument. 
 [SIGNATURES ON FOLLOWING PAGE]

  
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 IN WITNESS WHEREOF, Assignor has executed this instrument as of (but not necessarily on) this
27th day of January, 2015. 
  

							
	WITNESSES:	  		 	 ASSIGNOR:

			
		  		 	 WINTER HAVEN CAPITAL CENTER, LLC,

a Florida limited liability company

				
	 /s/ Marcy B. Kast
	  		 	 By:
	 	 /s/ John W. Slavens

	Print Name: Marcy B. Kast	  		 	 Print Name: John W. Slavens

Title: Manager

			
	 /s/ Alton L. Lightsey
	  		 	
	Print Name: Alton L. Lightsey	  		 	

  
 -3- 

																	
		 		 		  	ASSIGNEE:
				
		 		 		  	HCII-7375 CYPRESS GARDENS
		 		 		  	BOULEVARD, LLC, a Delaware limited
		 		 		  	liability company
	 /s/ Miles Callahan

Print Name: Miles Callahan
	 		 		  		  		  		  		  		  	
	 		 		  	By:	  	Carter Validus Operating Partnership
		 		 		  		  	II, LP, a Delaware limited
	 /s/ Anatalia Sanchez
	 		 		  		  	partnership, its sole member
	Print Name: Anatalia Sanchez	 		 		  		  		  		  		  		  	
		 		 		  		  	By:	  		  	Carter Validus Mission Critical
		 		 		  		  		  		  	REIT II, Inc., a Maryland
		 		 		  		  		  		  	corporation, its general partner
									
		 		 		  		  		  		  	By:	  		  	 /s/ John E. Carter

		 		 		  		  		  		  		  		  	John E. Carter
		 		 		  		  		  		  		  		  	Chief Executive Officer

  

  
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 EXHIBIT A 

LEASE 
  

	1.	Master Lease Agreement dated as of June 30, 2008, by and between Winter Haven Capital Center, LLC and Central Polk, LLC. 

  

	2.	First Amendment to Master Lease Agreement dated as of September15, 2008, by and between Winter Haven Capital Center, LLC, Central Polk, LLC and Health Management Associates, Inc. 

 

  
 Exhibit A 

 EXHIBIT B 

NONE 
  

  
 Exhibit BExhibit 10.1

 

AMENDMENT, MODIFICATION, AND SUPPLEMENT
TO 

 

SECURITIES PURCHASE AMENDMENT

 

This Amendment, Modification,
and Supplement to the Securities Purchase Agreement (the “Agreement”), dated as of January 30, 2015, is entered
into by and among Medbox, Inc., a Nevada corporation (the “Company”) and _____________________ (the “Purchaser”).

 

BACKGROUND

 

		(A)	On July 21, 2014, the Company and the Purchaser entered into a Securities Purchase Agreement (as
amended, modified, or supplemented from time to time, the “Securities Purchase Agreement”), pursuant to which
the Company agreed to issue and sell to the Purchaser, and the Purchaser agreed to purchase from the Company, certain Debentures
on two separate Closings for an aggregate subscription amount of $3,000,000, on the terms and conditions set forth therein.

 

		(B)	On July 21, 2014, at the First Closing, the Purchaser subscribed for $1,000,000 in Principal Amount
of Debentures for a Subscription Amount of $1,000,000, and the Purchaser subscribed for an additional $1,000,000 on August 25,
2014, an additional $500,000 on September 24, 2014, and an additional $250,000 on November 24, 2014 (collectively, the “Original
Debentures”).

 

		(C)	The Registration Statement was withdrawn, and the Company has defaulted under the terms of the
Securities Purchase Agreement and Debentures because (i) it was not able to make the first principal and interest payment due on
the Debentures, and (ii) it was not able to cause the Registration Statement to be filed pursuant to the Registration Rights Agreement
dated July 21, 2014 (the “Registration Rights Agreement”) to become effective by November 21, 2014 (the “Specified
Defaults”).

 

		(D)	The parties now wish to enter into this Agreement in order to modify certain terms and conditions
of the Securities Purchase Agreement, and modify the terms and conditions of the 10% convertible debentures to be issued by the
Company to the Purchaser hereunder (the “Modified Debentures”) and (ii) waive the Specified Defaults.

 

AGREED TERMS

 

		1.	Definitions and interpretation

 

		1.1	Capitalized terms not otherwise defined herein shall have the meanings set forth in the Securities
Purchase Agreement.

 

		1.2	The definition of the term “Debentures” shall be modified to include both the Original
Debentures and all Modified Debentures issued to the Purchaser hereunder.

 

    	 

    	 

    

 

		2.	Modification to the closings

 

		2.1	The purchase of the Debentures shall be split into five (5) Tranches (collectively, the “Modified
Closings”) in the aggregate Principal Amount of $1,800,000 as follows:

 

		(a)	a first Tranche in the Principal Amount of $200,000 for a Subscription Amount of $200,000 shall
be closed on the date hereof (the “First Modified Closing”), provided however, that each of the conditions set
out in Section 2.4 hereof shall have been satisfied;

 

		(b)	a second Tranche in the Principal Amount of $100,000 for a Subscription Amount of $100,000 shall
be closed on the date that is thirty (30) days after the Second Modified Closing (the “Second Modified Closing”),
provided however, that each of the conditions set out in Section 2.4 hereof shall have been satisfied

 

		(c)	a third Tranche in the Principal Amount of $100,000 for a Subscription Amount of $100,000 shall
be closed within two (2) days of the date that both (1) a new Registration Statement containing the terms and conditions of this
Agreement, has been filed by the Company, and (2) a restatement of the Company’s financial statements have been filed in
satisfaction of all comments received by the Commission (the “Third Modified Closing”), provided however, that
each of the conditions set out in Section 2.4 hereof shall have been satisfied;

 

		(d)	a fourth Tranche in the Principal Amount of $500,000 for a Subscription Amount of $500,000 shall
be closed within two (2) days of the SEC Effective Date (the “Fourth Modified Closing”), provided however, that
the Third Modified Closing has occurred and each of the conditions set out in Section 2.4 hereof shall have been satisfied;

 

		(e)	a fifth Tranche in the Principal Amount of $500,000 for a Subscription Amount of $500,000 shall
be closed within five (5) days of the Fourth Modified Closing (the “Fifth Modified Closing”), provided however,
that the Fourth Modified Closing has occurred and that each of the conditions set out in Section 2.4 hereof shall have been satisfied;
and

 

		(f)	in addition to the tranches listed above, the Purchaser will commit to funding additional tranches
on the following schedule provided that each of the conditions set out in Section 2.4 hereof shall have been satisfied:

 

		(i)	$100,000 on a date that is 90 days from the date of the First Modified Closing;

 

		(ii)	$100,000 on a date that is 120 days from the date of the First Modified Closing;

 

		(iii)	$100,000 on a date that is 150 days from the date of the First Modified Closing; and

 

    	 

    	 

    

 

		(iv)	$100,000 on a date that is 180 days from the date of the First Modified Closing;

 

Notwithstanding
the foregoing, any of the Modified Closings that have not closed by a date that is 180 days from the First Modified Closing, shall
be terminated, unless otherwise agreed to by the Purchaser.

 

		2.2	On or prior to each Closing Date with respect to each of the Modified Closings, the Company shall
deliver or cause to be delivered to the Purchaser, as applicable, the following:

 

		(a)	a Modified Debenture in the form set out on Exhibit A attached hereto with a principal amount equal
to the Purchaser’s Principal Amount as set forth in Section 2.1 hereof, registered in the name of the Purchaser;

 

		(b)	a warrant instrument in the form set out on Exhibit B attached hereto (the “Warrants”)
issued and registered in the name of the Purchaser granting the Purchaser the right to purchase such number of additional shares
of Common Stock as is equal to the Principal Amount of the applicable Modified Debenture divided by a price (the “Reference
Price”) equal to 120% of the last reported closing price of the Common Stock on the applicable Closing Date, at an exercise
price equal to the applicable Reference Price, and a term of three (3) years from the issuance date of each Warrant; and

 

		(c)	with respect to the Second Modified Closing, a letter to the Transfer Agent updating the terms
of the Transfer Agent Instruction Letter to take into account the terms and conditions of this Agreement duly executed by the Company
and the Transfer Agent.

 

		2.3	On or prior to each Closing Date with respect to each of
the Modified Closings, the Purchaser shall deliver or cause to be delivered to the Company, as applicable, the Purchaser’s
Subscription Amount as set forth in Section 2.1 hereof, less a fee payable to ____________ in the amount equal to 5% of the Subscription
Amount of the applicable Modified Closing.

 

		2.4	Conditions:

 

		(a)	the satisfaction of the conditions set out in Section 2.4(a) of the Securities Purchase Agreement,
except that with respect to Section 2.4(a)(iii), the items to be delivered by the Company shall be the items set forth in Section
2.2 hereof;

 

		(b)	the satisfaction of the conditions set out in Section 2.4(b) of the Securities Purchase Agreement,
except that with respect to Section 2.4(b)(iii), the items to be delivered by the Purchaser shall be the items set forth in Section
2.3 hereof;

 

		(c)	the Company shall have entered into an agreement with _______________ providing for the purchase
and sale of at least $1,500,000 of convertible debentures on substantially the same terms and conditions as this Agreement and
in respect of each of the Second Modified Closing, the Third Modified Closing, the Fourth Modified Closing, and the Fifth Modified
Closing the Company shall have provided proof of receipt of funds from ________ prior to, or simultaneously with, such Closing;

 

    	 

    	 

    

 

		(e)	one or more of the current members of the Board of Directors and/or executive officers of the Company
shall have entered into binding commitments to invest collectively a minimum of $100,000 in two tranches of $50,000 each (which
for the avoidance of doubt shall be in addition to the $50,000 raised through the issuance of the 8% Convertible Debenture Due
January 13, 2018 issued to Ned Siegel), the timing of which shall be on or before each of the third and fourth Tranches, and in
respect of each of the Third Modified Closing and the Fourth Modified Closing, the Company shall have provided proof of receipt
of funds prior to such Closing;

 

		(f)	in respect of the Third Modified Closing, the Fourth Modified Closing, and the Fifth Modified Closing
only, the Company shall have opened the Powell Blvd., Portland, Oregon dispensary during the first quarter of 2015.

 

		2.5	The terms “Required Minimum” and “Underlying Shares” in the Securities
Purchase Agreement shall be deleted in its entirety and replaced with the following in order to include any shares of Common Stock
issued upon exercise of the Warrants:

 

“Required Minimum”
means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future
pursuant to the Transaction Documents, including any Underlying Shares issuable upon conversion in full of all Debentures (including
Underlying Shares issuable as payment of interest on the Debentures), ignoring any conversion or exercise limits set forth therein,
and assuming that the Conversion Price is at all times on and after the date of determination 100% of the then Conversion Price
on the Trading Day immediately prior to the date of determination, and including any Underlying Shares issuable upon exercise of
all the Warrants ignoring any exercise limits set forth therein.

 

“Underlying Shares”
means the shares of Common Stock issued and issuable upon conversion or redemption of the Debentures and issued and issuable in
lieu of the cash payment of interest on the Debentures in accordance with the terms of the Debentures, and any shares of Common
Stock issued and issuable upon exercise of the Warrants.

 

		4.	Other Covenants and Waivers

 

		4.1	Notwithstanding Section 4.8 of the Securities Purchase Agreement, the Company may use the proceeds
from the Debentures for working capital and general and administrative expenses of the Company.

 

		4.2	In connection with the Registration Rights Agreement, the following additional provisions shall
apply.

 

    	 

    	 

    

 

		(a)	The parties acknowledge and agree that the initial Registration Statement was filed with the Commission
and has been withdrawn.

 

		(b)	The Company shall file with the Commission a new Registration Statement no later than March 8,
2015 and the term “Registration Filing Date” shall be deemed amended to reflect this new deadline.

 

		(c)	The new Registration Statement to be filed shall relate to the resale by the Purchaser of at least
such number of shares as is equal to 200% of the Required Minimum (as defined in the Securities Purchase Agreement) as of the date
the Registration Statement is filed, or such other number as the staff of the Commission will permit.

 

		(d)	The Company shall cause the new Registration Statement to be declared effective by the Commission
on or before June 15, 2015, and the terms “Registration Default Date (First),” “Registration Default Date (Second),”
and “Registration Default Date(s),” shall hereafter refer to the date June 15, 2015.

 

		4.3	The Company hereby represents and warrants that the Specified Defaults have occurred and are continuing,
and each constitutes an Event of Default and entitles the Purchaser to exercise its rights and remedies under the Transaction Documents,
applicable law or otherwise. The Company further represents and warrants that as of the date hereof no other Event of Default under
the Transaction Documents exist. In reliance on such representation and warranty from the Company, effective upon the Second Modified
Closing, and the issuance of an Amended and Restated Debenture to the Purchaser in respect of the original Debenture purchased
by the Purchaser at the First Closing, the Purchaser hereby waives the Specified Defaults. Except for the Specified Defaults, the
Purchaser has not waived, is not by this Agreement waiving any Events of Default which may be continuing on the date hereof or
any Events of Default which may occur after the date hereof, and the Purchaser reserves the right, in its discretion, to exercise
any or all of its rights and remedies under the Transaction Documents as a result of any Events of Default, other than the Specified
Defaults, which may be continuing on the date hereof or any Event of Default which may occur after the date hereof, including failure
to cause the Registration Statement to be filed by the new Registration Filing Date or first declared effective by the Commission
by the new Registration Default Date.

 

		4.	Representations and warranties

 

		4.1	The Company represents and warrants to the Purchaser as
of the date of this Agreement that:

 

		(a)	it has the requisite corporate power and authority to enter into this Agreement and to consummate
the transactions contemplated by this Agreement;

 

		(b)	it has taken all necessary corporate actions to authorize the execution, delivery and performance
of this Agreement and no further action is required by the Company, the Board of Directors or the Company’s stockholders
in connection therewith; and

 

    	 

    	 

    

 

		(c)	the obligations assumed by the Company in this Agreement are legal, valid, and enforceable obligations
binding on it in accordance with its terms.

 

		5.	Counterparts and delivery

 

This Agreement
may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood
that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or
by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

		6.	Governing law

 

This Agreement
shall be governed by and shall be governed by and construed and enforced in accordance with the internal laws of the State of New
York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto
or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively
in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees
not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court,
that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy
thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect
for notices to it under the Securities Purchase Agreement and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other
manner permitted by law.

 

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INTENTIONALLY LEFT BLANK]

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the Company and the Holder have caused this Amendment, Modification, and Supplement to Securities Purchase Agreement to be signed
by their duly authorized officers.

 

	 	MEDBOX, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	 
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:

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