Document:

Exhibit 10.1

 

SECOND AMENDMENT TO LEASE AGREEMENT

 

THIS SECOND AMENDMENT
TO LEASE AGREEMENT (this “Amendment”) is entered into effective as of January 1, 2020 (the “Amendment
Effective Date”), by and between IIP-MI 1 LLC, a Delaware limited liability company (“Landlord”),
and Green Peak Industries, LLC, d/b/a Green Peak Innovations and a Michigan limited liability company (“Tenant”).

 

RECITALS

 

A.                  WHEREAS, Landlord and Tenant are parties to that certain Lease Agreement dated as of August 2, 2018 (the “Original
Lease”), as amended by that certain First Amendment to Lease Agreement dated December 7, 2018 (the “First Amendment”
and together with the Original Lease, the “Existing Lease”), whereby Tenant leases the premises from Landlord
located at 10070 Harvest Park, Dimondale, Michigan 48821; and

 

B.                   WHEREAS,
Landlord and Tenant desire to modify and amend the Existing Lease only in the respects and on the conditions hereinafter stated.

 

AGREEMENT

 

NOW, THEREFORE, Landlord
and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows:

 

1.                  
Definitions. For purposes of this Amendment, capitalized terms shall have the meanings ascribed to them in the Existing
Lease unless otherwise defined herein. The Existing Lease, as amended by this Amendment, is referred to collectively herein as
the “Lease.” From and after the date hereof, the term “Lease,” as used in the Existing Lease, shall
mean the Existing Lease, as amended by this Amendment.

 

2.                  
Term. Section 3.1 of the Original Lease is hereby amended and restated in its entirety as follows:

 

“The actual term of this
Lease (as the same may be extended or earlier terminated in accordance with this Lease, the "Term") commenced
on August 2, 2018 (the "Commencement Date") and shall end on December 31, 2036, subject to extension or earlier
termination of this Lease as provided herein.”

 

3.                  
TI Allowance. The first sentence of Section 5.1 of the Original Lease is hereby amended and restated in its
entirety as follows:

 

"Tenant shall cause appropriate
improvements consistent with the Permitted Use (the "Tenant Improvements") to be constructed in the Premises pursuant
to the Work Letter attached hereto as Exhibit E (the "Work Letter") at a cost to Landlord not to exceed
Four Million Nine Hundred Ninety-Nine Thousand Two Hundred Seventy-Eight and 56/100 Dollars ($4,999,278.56) (the "TI Allowance")."

 

In addition, Tenant
acknowledges that Tenant has received the full TI Allowance available to Tenant from Landlord for the Tenant Improvements, and
Landlord shall have no further obligation to fund or reimburse any costs for Tenant Improvements under the Lease.

 

4.                  
Monthly Base Rent and Property Management Fee Schedule. Exhibit F of the Existing Lease is hereby deleted
and replaced in its entirety with Exhibit A attached hereto and incorporated by reference herein.

 

5.                  
Harvest Park Drain Agreement and Easement. Tenant acknowledges that Tenant has requested that Landlord enter into
(1) an Agreement for the Establishment of a County Drain and County Drainage District with Richard Wagner, the Eaton County Drain
Commissioner (“Drain Commissioner”), on behalf of the Harvest Park Drain Drainage District (the “Drainage
District”) and certain other Landowners (as defined therein) for the construction and dedication of a county drain and
the establishment of a reserve for the maintenance of such drain and any related improvements (the “Harvest Park Drainage
Agreement”), and (2) a Drain and Detention Easement for Harvest Park Drain (the “Harvest Park Drainage Easement”).
Tenant further acknowledges and agrees that, for the duration of the Term of the Lease, Tenant shall, at Tenant’s sole cost
and expense, (a) perform all of the obligations of Landlord to be performed as the “Landowner” of the Property thereunder,
(b) comply with all of the covenants, conditions and restrictions set forth in the Harvest Park Drainage Agreement and the Harvest
Park Drainage Easement as part of the CC&Rs encumbering the Premises, and (c) indemnify, save, defend (at Landlord’s
option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnifies harmless from and against any Claims
incurred as a result of Tenant’s failure to comply with the terms and conditions of the Harvest Park Drainage Agreement
and Harvest Park Drainage Easement.

 

     

     

    

 

6.                  
Broker. Each of Landlord and Tenant represents and warrants that it has not dealt with any broker or agent in the
negotiation for or the obtaining of this Amendment and agrees to reimburse, indemnify, save, defend (at the indemnified party’s
option and with counsel reasonably acceptable to indemnified party, at the indemnifying party’s sole cost and expense) and
hold harmless the other party’s Indemnitees for, from and against any and all cost or liability for compensation claimed
by any such broker or agent employed or engaged by it or claiming to have been employed or engaged by it.

 

7.                  
No Default. Each of Tenant and Landlord represents, warrants and covenants that, to the best of such party’s
knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Existing Lease and no event
has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or
Tenant thereunder.

 

8.                  
Effect of Amendment. Except as modified by this Amendment, the Existing Lease and all the covenants, agreements,
terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. In the event
of any conflict between the terms contained in this Amendment and the Existing Lease, the terms herein contained shall supersede
and control the obligations and liabilities of the parties.

 

9.                  
Successors and Assigns. Each of the covenants, conditions and agreements contained in this Amendment shall inure
to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs, legatees, devisees, executors,
administrators and permitted successors and assigns and sublessees. Nothing in this section shall in any way alter the provisions
of the Lease restricting assignment or subletting.

 

10.               
Miscellaneous. This Amendment becomes effective only upon execution and delivery hereof by Landlord and Tenant. The
captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be
considered or given any effect in construing the provisions hereof. All exhibits hereto are incorporated herein by reference. Submission
of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall
not be effective as a lease, lease amendment or otherwise until execution by and delivery to both Landlord and Tenant.

 

11.               
Authority. Each of Tenant and Landlord guarantees, warrants and represents that the individual or individuals signing
this Amendment have the power, authority and legal capacity to sign this Amendment on behalf of and to bind all entities, corporations,
partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual
or individuals have signed.

 

12.               
Counterparts; Facsimile and PDF Signatures. This Amendment may be executed in one or more counterparts, each of which,
when taken together, shall constitute one and the same document. A facsimile or portable document format (PDF) signature on this
Amendment shall be equivalent to, and have the same force and effect as, an original signature.

 

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BLANK]

 

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IN WITNESS WHEREOF,
Landlord and Tenant have executed this Amendment as of the date and year first above written.

 

	LANDLORD:	 
	 	 	 
	IIP-MI
    1 LLC,	 
	a
    Delaware limited liability company	 
	 	 	 
	By:	/s/
    Brian Wolfe	 
	Name:	Brian
    Wolfe	 
	Title:	Vice
    President, General Counsel and Secretary	 
	 	 	 
	TENANT:	 
	 	 	 
	Green
    Peak Industries, LLC,	 
	a
    Michigan limited liability company	 
	 	 	 
	By:	/s/
    Jeff Radway	 
	Name:	Jeff
    Radway	 
	Title:	Chief
    Executive Officer	 

 

     

     

    

 

Exhibit A

 

Monthly Base Rent and Property Management
Fee Schedule 

 

(see attached)

 

     

     

    

 

	EXHIBIT F
	MONTHLY BASE RENT AND PROPERTY MANAGEMENT FEE SCHEDULE
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Time Period (Months)	 	Monthly Base Rent	 	 	Management Fee	 	 	Amount	 
	1/1/2020	 	 	through	 	 	 	12/31/2020	 	 	$	210,657.05	 	 	$	3,159.86	 	 	$	213,816.91	 
	1/1/2021	 	 	through	 	 	 	12/31/2021	 	 	$	218,030.04	 	 	$	3,270.45	 	 	$	221,300.49	 
	1/1/2022	 	 	through	 	 	 	12/31/2022	 	 	$	225,661.10	 	 	$	3,384.92	 	 	$	229,046.02	 
	1/1/2023	 	 	through	 	 	 	12/31/2023	 	 	$	233,559.23	 	 	$	3,503.39	 	 	$	237,062.62	 
	1/1/2024	 	 	through	 	 	 	12/31/2024	 	 	$	241,733.81	 	 	$	3,626.01	 	 	$	245,359.82	 
	1/1/2025	 	 	through	 	 	 	12/31/2025	 	 	$	250,194.49	 	 	$	3,752.92	 	 	$	253,947.41	 
	1/1/2026	 	 	through	 	 	 	12/31/2026	 	 	$	258,951.30	 	 	$	3,884.27	 	 	$	262,835.57	 
	1/1/2027	 	 	through	 	 	 	12/31/2027	 	 	$	268,014.59	 	 	$	4,020.22	 	 	$	272,034.81	 
	1/1/2028	 	 	through	 	 	 	12/31/2028	 	 	$	277,395.10	 	 	$	4,160.93	 	 	$	281,556.03	 
	1/1/2029	 	 	through	 	 	 	12/31/2029	 	 	$	287,103.93	 	 	$	4,306.56	 	 	$	291,410.49	 
	1/1/2030	 	 	through	 	 	 	12/31/2030	 	 	$	297,152.57	 	 	$	4,457.29	 	 	$	301,609.86	 
	1/1/2031	 	 	through	 	 	 	12/31/2031	 	 	$	307,552.91	 	 	$	4,613.29	 	 	$	312,166.20	 
	1/1/2032	 	 	through	 	 	 	12/31/2032	 	 	$	318,317.26	 	 	$	4,774.76	 	 	$	323,092.02	 
	1/1/2033	 	 	through	 	 	 	12/31/2033	 	 	$	329,458.37	 	 	$	4,941.88	 	 	$	334,400.25	 
	1/1/2034	 	 	through	 	 	 	12/31/2034	 	 	$	340,989.41	 	 	$	5,114.84	 	 	$	346,104.25	 
	1/1/2035	 	 	through	 	 	 	12/31/2035	 	 	$	352,924.04	 	 	$	5,293.86	 	 	$	358,217.90	 
	1/1/2036	 	 	through	 	 	 	12/31/2036	 	 	$	365,276.38	 	 	$	5,479.15	 	 	$	370,755.53	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Extension Option 1	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1/1/2037	 	 	through	 	 	 	12/31/2037	 	 	$	378,061.05	 	 	$	5,670.92	 	 	$	383,731.97	 
	1/1/2038	 	 	through	 	 	 	12/31/2038	 	 	$	391,293.19	 	 	$	5,869.40	 	 	$	397,162.59	 
	1/1/2039	 	 	through	 	 	 	12/31/2039	 	 	$	404,988.45	 	 	$	6,074.83	 	 	$	411,063.28	 
	1/1/2040	 	 	through	 	 	 	12/31/2040	 	 	$	419,163.05	 	 	$	6,287.45	 	 	$	425,450.49	 
	1/1/2041	 	 	through	 	 	 	12/31/2041	 	 	$	433,833.75	 	 	$	6,507.51	 	 	$	440,341.26	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Extension Option 2	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1/1/2042	 	 	through	 	 	 	12/31/2042	 	 	$	449,017.94	 	 	$	6,735.27	 	 	$	455,753.20	 
	1/1/2043	 	 	through	 	 	 	12/31/2043	 	 	$	464,733.56	 	 	$	6,971.00	 	 	$	471,704.57	 
	1/1/2044	 	 	through	 	 	 	12/31/2044	 	 	$	480,999.24	 	 	$	7,214.99	 	 	$	488,214.23	 
	1/1/2045	 	 	through	 	 	 	12/31/2045	 	 	$	497,834.21	 	 	$	7,467.51	 	 	$	505,301.72	 
	1/1/2046	 	 	through	 	 	 	12/31/2046	 	 	$	515,258.41	 	 	$	7,728.88	 	 	$	522,987.28Exhibit 10.1

 

AMENDMENT TO CONVERTIBLE PROMISSORY NOTE

 

This Amendment to Convertible
Promissory Note (this “Amendment”) is entered into as of December 31, 2019, by and between Chicago
Venture Partners, L.P., a Utah limited partnership (“Lender”), and Sysorex,
Inc., a Nevada corporation (“Borrower”). Capitalized terms used in this Amendment without definition
shall have the meanings given to them in the Note (as defined below).

 

A.               
Borrower previously issued to Lender a Convertible Promissory Note dated December 31, 2018 in the principal amount of $625,000.00
(the “Note”).

 

B.                
Borrower has requested that Lender extend the Maturity Date of the Note (the “Extension”).

 

C.                
Lender has agreed, subject to the terms, amendments, conditions and understandings expressed in this Amendment, to grant
the Extension.

 

NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1.       Recitals.
Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Amendment are true and accurate and
are hereby incorporated into and made a part of this Amendment.

 

2.       Extension.
The Maturity Date for the Note is hereby extended until March 31, 2020.

 

3.       Extension
Fee. In consideration of Lender’s grant of the Extension, its fees incurred in preparing this Amendment and other accommodations
set forth herein, Borrower agrees to pay to Lender an extension fee in the amount of $33,134.73 (the “Extension Fee”).
The Extension Fee is hereby added to the Outstanding Balance of the Note as of the date of this Amendment. Lender and Borrower
further agree that the Extension Fee is deemed to be fully earned as of the date hereof, is nonrefundable under any circumstance,
and that the Extension Fee tacks back to the date of the Note for Rule 144 purposes. Borrower represents and warrants that as of
the date hereof the Outstanding Balance of the Note, following the application of the Extension Fee, is $696,013.43.

 

4.       Representations
and Warranties. In order to induce Lender to enter into this Amendment, Borrower, for itself, and for its affiliates, successors
and assigns, hereby acknowledges, represents, warrants and agrees as follows:

 

(a)Borrower has
full power and authority to enter into this Amendment and to incur and perform all obligations and covenants contained herein,
all of which have been duly authorized by all proper and necessary action. No consent, approval, filing or registration with or
notice to any governmental authority is required as a condition to the validity of this Amendment or the performance of any of
the obligations of Borrower hereunder.

 

     

     

    

 

(b)There is no
fact known to Borrower or which should be known to Borrower which Borrower has not disclosed to Lender on or prior to the date
of this Amendment which would or could materially and adversely affect the understanding of Lender expressed in this Amendment
or any representation, warranty, or recital contained in this Amendment.

 

(c)Except as expressly
set forth in this Amendment, Borrower acknowledges and agrees that neither the execution and delivery of this Amendment nor any
of the terms, provisions, covenants, or agreements contained in this Amendment shall in any manner release, impair, lessen, modify,
waive, or otherwise affect the liability and obligations of Borrower under the terms of the Transaction Documents.

 

(d)Borrower has
no defenses, affirmative or otherwise, rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action
of any kind or nature whatsoever against Lender, directly or indirectly, arising out of, based upon, or in any manner connected
with, the transactions contemplated hereby, whether known or unknown, which occurred, existed, was taken, permitted, or begun prior
to the execution of this Amendment and occurred, existed, was taken, permitted or begun in accordance with, pursuant to, or by
virtue of any of the terms or conditions of the Transaction Documents. To the extent any such defenses, affirmative or otherwise,
rights of setoff, rights of recoupment, claims, counterclaims, actions or causes of action exist or existed, such defenses, rights,
claims, counterclaims, actions and causes of action are hereby waived, discharged and released. Borrower hereby acknowledges and
agrees that the execution of this Amendment by Lender shall not constitute an acknowledgment of or admission by Lender of the existence
of any claims or of liability for any matter or precedent upon which any claim or liability may be asserted.

 

(e)Borrower represents
and warrants that as of the date hereof no Events of Default or other material breaches exist under the Transaction Documents or
have occurred prior to the date hereof.

 

5.       Certain
Acknowledgments. Each of the parties acknowledges and agrees that no property or cash consideration of any kind whatsoever
has been or shall be given by Lender to Borrower in connection with the Extension or any other amendment to the Note granted herein.

 

6.       Other
Terms Unchanged. The Note, as amended by this Amendment, remains and continues in full force and effect, constitutes legal,
valid, and binding obligations of each of the parties, and is in all respects agreed to, ratified, and confirmed. Any reference
to the Note after the date of this Amendment is deemed to be a reference to the Note as amended by this Amendment. If there is
a conflict between the terms of this Amendment and the Note, the terms of this Amendment shall control. No forbearance or waiver
may be implied by this Amendment. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment
shall not operate as a waiver of, or as an amendment to, any right, power, or remedy of Lender under the Note, as in effect prior
to the date hereof. For the avoidance of doubt, this Amendment shall be subject to the governing law, venue, and Arbitration Provisions,
as set forth in the Note.

 

    2 

     

    

 

7.       No
Reliance. Borrower acknowledges and agrees that neither Lender nor any of its officers, directors, members, managers, equity
holders, representatives or agents has made any representations or warranties to Borrower or any of its agents, representatives,
officers, directors, or employees except as expressly set forth in this Amendment and the Transaction Documents and, in making
its decision to enter into the transactions contemplated by this Amendment, Borrower is not relying on any representation, warranty,
covenant or promise of Lender or its officers, directors, members, managers, equity holders, agents or representatives other than
as set forth in this Amendment.

 

8.       Counterparts.
This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together
shall constitute one instrument. The parties hereto confirm that any electronic copy of another party’s executed counterpart
of this Amendment (or such party’s signature page thereof) will be deemed to be an executed original thereof.

 

9.       Further
Assurances. Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Amendment and the consummation of the transactions contemplated
hereby.

 

[Remainder of page intentionally left blank]

 

    3 

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date set forth above.

 

	 	LENDER:
	 	 
	 	Chicago Venture Partners,
    L.P.
	 	 
	 	By:	Chicago Venture Management, L.L.C.,
	 	 	its General Partner
	 	 	By:CVM, Inc., its Manager
	 	 
	 	By: 	/s/
    John M. Fife
	 	 	John M. Fife, President

 

	 	BORROWER:
	 	 
	 	Sysorex, Inc.
	 	 
	 	By: 	A.
    Zaman Khan
	 	Printed Name: A. Zaman Khan
	 	Title:	CEO

  

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