Document:

SEPARATION AGREEMENT

 Exhibit 10.54 
  
  
 Separation Agreement 
  
 AGREEMENT made as of the 20th day of October, 2004 by and between PC Connection, Inc., a
Delaware corporation with offices at 730 Milford Road, Merrimack, New Hampshire, 03054 (“PC Connection” or the “Company”) and Mark Gavin (“Mr. Gavin” or “you”) (collectively, “the Parties”).

  
 WHEREAS, Mr. Gavin has been employed by PC Connection as its Chief Financial
Officer; 
  
 WHEREAS, the parties wish to resolve amicably Mr. Gavin’s
separation from the Company and establish the terms of Mr. Gavin’s severance arrangement; 
  
 NOW, THEREFORE, in consideration of the promises and conditions set forth herein, the sufficiency of which is hereby acknowledged, the Company and Mr. Gavin agree as follows: 
  

	1.	Resignation. The Company and you agree that your separation from the Company will be characterized as a resignation. 

  

	2.	Transition Period. From October 21, 2004 until November 19, 2004 (the “Transition Period”), the Parties agree that, in exchange for the payment of his current
salary and benefits by PC Connection, Mr. Gavin shall render reasonable, necessary and requested consulting services during regular and customary business days and hours in order to assist PC Connection in the transition of his services to a
replacement chief financial officer. 

  

	3.	Ongoing Cooperation. You agree to reasonably cooperate with the Company and its attorneys and auditors with respect to any and all ongoing audits, internal investigations and
investigations by any regulatory authority. 

  

	4.	Severance Benefits.  

  

	 	(a)	In return for your execution of the instant Agreement, PC Connection will pay you salary continuation payments at your base rate of $ 260,000 per annum, less all applicable state
and federal taxes, for a period of six months, commencing on November 20, 2004 (the Severance Pay Period). 

  

	 	(b)	PC Connection represents that you are currently vested in 156,250 stock options under your Incentive Stock Option Agreement (“Option Agreement”) with varying exercise
prices. As provided in your Option Agreement, you shall have 30 days or 90 days depending on the plan in which to exercise the vested stock options. 

  

	 	(c)	PC Connection represents that you are currently not vested in 286,250 additional stock options under the Option Agreement and these non-vested options will terminate.

  

	 	(d)	If, in addition to signing this Agreement, you choose to sign and return the Covenant Not to Compete and Disclose Confidential Information and Assignment of Rights (“Covenant
Not to Compete”) attached to this Agreement as Attachment A, the Company shall pay you, in addition to the severance benefits outlined in this paragraph, the enhanced severance benefits described in the “Description of Enhanced Severance
Benefits” attached to this Agreement as Attachment B. 

  

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	5.	Non-Disparagement. You agree that that as a condition for payment to you of the consideration described herein, you will not make any false, disparaging or derogatory
statements to any media outlet, industry group, financial institution, or current or former employee, consultant, client or customer of the Company regarding the Company or any of its directors, officers, employees, agents or representatives or
about the Company’s business affairs and financial condition, absent actual or threatened litigation or regulatory investigation, or as required by law. Nothing herein shall prevent you from providing information, documentation and/or testimony
in connection with any investigation or action by any governmental or regulatory authority which you believe to be true. 

  
 Likewise, the Executive Officers and Directors of the Company agree not make any false, disparaging or derogatory statements to any media outlet, industry
group, financial institution, prospective employer or current or former employee, consultant, client or customer of the Company regarding Mr. Gavin, unless required by law. 
  

	6.	Return of Company Property. Upon the expiration of the Transition Period, you agree to return all keys, ID badges, credit cards, cellular phones, computers, diskettes, and
other data storage and retrieval devices, software and other materials and documents belonging to PC Connection or any affiliate. You also agree that you will not retain any copies of any such material. 

  

	7.	Rights in Work Product. You confirm that you have disclosed to PC Connection all ideas and inventions and intellectual property (collectively, “Inventions”) that
arose from work performed by you for, on behalf of, at the expense of, or on the premises of PC Connection or any other affiliate. Inventions include, without limitation, any ideas for improvements or alternatives to PC Connection’s operations
and technology. You understand that under the terms of your agreements with PC Connection, PC Connection owns all rights in the Inventions and you agree to cooperate with PC Connection in executing any necessary applications, assignments or similar
forms respecting the Inventions. 

  

	8.	Continuing Effect and Extension of Covenant. You acknowledge your obligation to keep confidential all non-public information concerning the Company which you acquired during
the course of your employment with the Company, as stated more fully in the Code of Business Conduct and Ethics (“Ethics Agreement”) you executed annually during your employment, which remains in full force and effect.

  

	9.	Confidentiality. To the extent permitted by law, the Parties understand and agree that, as in exchange for the agreements herein contained and as a condition for
payment to Mr. Gavin of the consideration herein described, the Parties, their agents and representatives shall keep the terms and contents of this Agreement, and the contents of the negotiations and discussions resulting in this Agreement,
including, the contents and negotiations resulting in the Enhanced Severance Benefits described in Attachment B, as confidential and none of the above shall be disclosed to any third party except to the extent required by federal or state law, in
response to a request or investigation by a regulatory authority, or as otherwise agreed to in writing by the other Party, provided however, that this section does not preclude you from discussing the terms of this Agreement with your immediate
family, attorneys and tax advisors, provided however, that before any such discussion, any such person must first agree to keep the terms of this Agreement confidential. 

  

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	10.	Complete Agreement. This Agreement together with the Covenant Not to Compete, Ethics Agreement, and the Option Agreement and together with Attachments A and B constitute the
parties’ entire agreement with respect to its subject matter and supersedes all prior negotiations, discussions, and agreements with respect to the same subject matter, including, but not limited to your offer letter dated February 5, 1998.

  

	11.	Release. In consideration of the payment of the severance benefits, you hereby fully, forever, irrevocably and unconditionally release, remise, discharge PC Connection, its
officers, directors, stockholders, corporate affiliates, subsidiaries, parent companies, agents and employees (each in their individual and corporate capacities (hereinafter the “Released Parties”) from any and all liabilities,
obligations, debts, demands, actions, torts, breaches, causes of action, suits, accounts, covenants, agreements, contingencies, promises, understandings, damages, expenses, compensation, or claims that you now have, may have or ever had against the
Released Parties, whether in law or in equity, or whether known or unknown, during all relevant time periods, including but not limited to any claims arising out of your employment with or separation from PC Connection, including, but not limited to
all employment discrimination claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. §2000e et seq., the Age Discrimination in Employment Act (ADEA), 29 U.S.C. § 621 et seq. and the Older Workers
Benefit Protection Act (OWBPA); the Americans With Disabilities Act of 1990, 42 U.S.C., §12101 et seq., the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq.; all claims arising out of the Fair Credit
Reporting Act, 15 U.S.C. §1681 et seq., the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §1001 et seq., the New Hampshire Law Against Discrimination, N.H. Rev. Stat. Ann. §
354-A:1 et seq., N.H. Rev. Stat. Ann. § 275:36 et seq. (New Hampshire equal pay law), the New Hampshire Whistleblowers’ Protection Act, N.H. Rev. Stat. Ann. § 275-E:1 et seq., all as amended;
all common law claims including, but not limited to, actions in tort, defamation and breach of contract; and any claim or damage arising out of your employment with or separation from the Company (including a claim for retaliation) under any common
law theory or any federal, state or local statute or ordinance not expressly referenced above; provided, however, that nothing in this Agreement prevents you from filing, cooperating with, or participating in any proceeding before the EEOC or a
state Fair Employment Practices Agency (except that you acknowledge that you may not be able to recover any monetary benefits in connection with any such claim, charge or proceeding) or cooperating fully with any federal regulatory authority.

  

	12.	Acknowledgments. You acknowledge that you have been given twenty-one (21) days to consider this Agreement and that the Company advised you to consult with an attorney
of your own choosing prior to signing this Agreement. Further, you acknowledge that you may revoke this Agreement for a period of seven (7) days after you execute this Agreement, and the Agreement shall not be effective or enforceable until the
expiration of this seven (7) day revocation period. You understand and agree that by entering into this letter agreement you are waiving any and all rights or claims you might have under The Age Discrimination in Employment Act, as amended by The
Older Workers Benefit Protection Act, and that you have received consideration beyond that to which you were previously entitled. 

  

	13.	Voluntary Assent. You affirm that no other promises or agreements of any kind have been made to or with you by any person or entity whatsoever to cause you to sign
this Agreement, and that you fully understand the meaning and intent of this Agreement. You state and represent that you have carefully read this Agreement, understand the contents herein, freely and voluntarily assent to all of the terms and
conditions hereof, and sign your name of your own free act. 

  

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	14.	Nature of Agreement. You understand and agree that this Agreement is a severance and settlement agreement and does not constitute an admission of liability or
wrongdoing on the part of you or the Company. 

  

	15.	Amendment. This Agreement shall be binding upon the Parties and may not be abandoned, supplemented, changed or modified in any manner, orally or otherwise, except by
an instrument in writing of concurrent or subsequent date signed by a duly authorized representative of the Parties hereto. This Agreement is binding upon and shall inure to the benefit of the Parties and their respective agents, assigns, heirs,
executors, successors and administrators. 

  

	16.	Waiver of Rights. No delay or omission by either of the Parties in exercising any rights under this Agreement shall operate as a waiver of that or any other right. A
waiver or consent given by either of the Parties on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

  

	17.	Validity. Should any provision of this Agreement be declared or be determined by any court of competent jurisdiction to be illegal or invalid, the validity of the
remaining parts, terms, or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be deemed not to be a part of this Agreement. 

  

	18.	Applicable Law. This Agreement shall be governed by the laws of the State of New Hampshire, without regard to conflict of laws provisions. The Parties hereby
irrevocably submits to the jurisdiction of the courts of the State of New Hampshire, or if appropriate, a federal court located in State of New Hampshire (which courts, for purposes of this Agreement, are the only courts of competent jurisdiction),
over any suit, action or other proceeding arising out of, under, or in connection with this Agreement or its subject matter. 

  

	19.	Counterparts. This Agreement may be executed in two (2) signature counterparts, each of which shall constitute an original, but all of which taken together shall
constitute but one and the same instrument. 

  

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 IN WITNESS WHEREOF, PC Connection and Mark Gavin have each caused this Agreement to be executed on the date set forth
below. 
  
 Agreed: 
  

					
	 PC Connection, Inc.
	 	 
			
	By:	 	 /s/ Brad Mousseau

	 	 /s/ Mark Gavin

	 	 	Brad Mousseau, V.P. H.R.	 	Mark Gavin
		
	 10/20/04

	 	 10/20/04

	Date	 	Date

  

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 ATTACHMENT A 
  
 COVENANT NOT TO COMPETE AND DISCLOSE CONFIDENTIAL INFORMATION 
 AND ASSIGNMENT OF RIGHTS 
  
 NON COMPETE AGREEMENT 
  
 This Covenant
entered into October, 20th 2004 by and between _Mark Gavin (Employee), residing at 11 Morgan Lane, Keene, NH 03431 with: PC Connection, Inc.; _X PC Connection Sales Corp.; Merrimack Services Corp.; PC Connection Sales of Massachusetts, Inc.,
all Delaware corporations with offices at 730 Milford Road, Merrimack, New Hampshire, and members of the PC Connection, Inc. affiliated group of companies (“PC Connection”). 
  
 Whereas, PC Connection is engaged in the sales, marketing, and service of computer and networking hardware, software, peripherals, and
service primarily through telephone and electronic commerce throughout the United States; and 
  
 Whereas, the business PC Connection is engaged in is extremely competitive and success depends in great part on developing, protecting and maintaining confidential information concerning plans, strategies, products,
customers lists, vendor lists, pricing, business techniques, and training methods, and seeks by this Covenant to protect said information; and 
  
 Whereas, Employee acknowledges that in the course of his or her employment with PC Connection he or she may have access to information that is valuable and confidential
to PC Connection, the improper disclosure of which or engagement in unfair competition involving such information will seriously damage PC Connection; 
  
 Now, therefore, in consideration of the mutual covenants contained herein, PC Connection and Employee agree as follows: 
  
 1. NO COMPETITION WITH PC CONNECTION. 
  
 (a) While employed by any of the PC Connection companies, Employee shall not
own, manage, operate, control, consult for, aid or be employed by any entity that is substantially similar to or directly competes with any business conducted by PC Connection, including, but not limited to, the design, development and production of
the particular projects Employee will have worked on or been involved with. 
  
 (b) For the period of twelve (12) months following any termination of employment for any reason or for no reason, Employee, either as an employee of another entity, independently or otherwise, shall not compete with
PC Connection by (i) engaging in the design, development, production, marketing or sale of goods or services directly in competition with PC Connection or engaging in projects substantially similar to those Employee worked on or was involved with on
behalf of PC Connection, whether or not the projects, in whole or in part, involved confidential information or trade secrets, (ii) soliciting sales in competition with PC Connection from PC Connection’s established customers with whom Employee
had other than incidental contact during 
  

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 his or her employment with PC Connection or (iii) soliciting other employees to leave PC Connection in order to undertake
other employment. ( c) Employee represents and certifies that he or she is not currently subject to a non-competition, non-disclosure, confidentiality or other agreement that may affect his or her ability to perform work required by PC Connection.

  

	2.	NO DISCLOSURE OF TRADE SECRETS AND CONFIDENTIAL INFORMATION 

  
 (a) Employee acknowledges that some elements of PC Connection’s business constitute trade secrets, are and must remain confidential, and are of value
to PC Connection, and that unauthorized disclosure of such elements will cause PC Connection irreparable harm. PC Connection’s trade secrets and/or confidential information include but are not limited to: identities of customers, customer lists
and other information about customers used by PC Connection, sales, marketing and financial information, designs, diagrams, schematics, plans, specifications and other technical information, oral and written agreements with vendors and distributors,
pricing methods, purchasing and sales contacts, computer programs, sales figures and PC Connection’s short range and long range product, sales, marketing, expansion, diversification, financing and similar plans, regardless of whether stored in
any tangible medium or of the type of medium in which it is stored, used or contained and whether contained in created materials reflecting such information, excepting information which is generally known outside PC Connection or which becomes
generally known outside PC Connection by publication other than by or as a result of an unauthorized act or omission by or involving the Employee or another. Created materials include any documents, memoranda, notes, notebooks, reports, studies,
programs, data, drawings, schematics, ideas, discoveries and any other item of information generated by or for PC Connection stored or contained in any medium, including materials that Employee created individually or together with others whether
during or outside of regular working hours so long as they were created for the benefit of PC Connection or by utilizing Company time, resources, materials or information. 
  
 (b) Employee shall not disclose trade secrets or confidential information to anyone except authorized Company officers,
agents and employees, unless specifically directed by an officer of PC Connection. 
  
 (c) Employee shall deliver to PC Connection all confidential information, created materials and trade secrets, whether written or contained in any other medium, which are in his or her possession or under his or her
control, promptly upon request. Employee shall not take any confidential information, created materials and trade secrets, whether written or contained in any other medium, or hardware outside PC Connection’s premises without the express
consent of an officer of PC Connection and shall return all such things promptly upon termination of employment with PC Connection. 
  
 (d) Employee acknowledges that the obligation not to disclose confidential information and trade secrets is a continuing one, which shall remain in force
and binding upon the Employee after his employment with PC Connection is terminated for any reason and until such time as the information is no longer confidential and does not constitute a trade secret. 
  
 3. ASSIGNMENT. Employee understands that all original work created by him or her in
the context of his employment is “work for hire” and is created for the exclusive benefit of PC Connection. Employee hereby assigns any and all rights he or she may have in any intellectual property or other information arising from work
performed as an Employee of PC Connection or any work performed for, on behalf of, at the expense of, or on the premises of PC Connection, including, but not limited to, rights to patents, mask works, copyrights, trade secrets, trademarks, and trade
names. Employee agrees to execute assignments of the rights to said intellectual property or other information and to do such other things as are necessary to secure these rights in PC Connection from time to time upon its request. 
  

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 4. INJUNCTIVE RELIEF. In the event Employee breaches any of the foregoing provisions, PC Connection will suffer
irreparable harm and shall be entitled to injunctive relief. 
  
 5.
CONSIDERATION. The consideration for Employee’s obligations under this Covenant include one or more of the following: PC Connection (a) hiring Employee, (b) providing continued employment in one of the PC Connection, Inc. group of
companies, (c) granting Employee a promotion and/or pay increase. 
  
 6.
GENERAL. This Covenant represents the entire agreement between the parties relating to the subject matter covered, and may not be modified except by a writing signed by both parties. This Covenant shall inure to the benefit of PC Connection, its
successors and assigns. If any provision in this Covenant is deemed illegal or unenforceable, the offending provision shall either be modified to make it legal and enforceable while retaining as far as possible the original intent of the provision
or, if that is not possible, it shall be stricken; the remainder of the Covenant to continue in full force and effect. This Covenant shall be construed and enforced under and in accordance with the law of the State of New Hampshire. 
  
 Employee acknowledges that he or she has read and understands this Covenant and has had an
opportunity to discuss any questions with PC Connection Personnel Manager or Legal Counselor with independent counsel of his or her choice. Employee understands and agrees that this Covenant does not change the at-will nature of his employment with
PC Connection. 
  
 Agreed: 
  

					
	PC Connection	 	Employees
			
	By:	 	 /s/ Brad Mousseau

	 	 /s/ Mark Gavin

			
	 	 	 Brad Mousseau, VP HR

	 	 Mark Gavin

	 	 	Print name/title	 	print name

  

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 ATTACHMENT B 
 DESCRIPTION OF ENHANCED SEVERANCE BENEFITS 
  
 If you sign and return the [Non-Compete, Non-Solicitation Agreement] attached to this Agreement as Attachment A, the Company will provide to you the following enhanced severance benefits: 
  

	 	a)	The Company will pay to you an additional 6 months of salary continuation at your base rate of $260,000.00 (the “Enhanced Severance Pay Period”), less all applicable state
and federal taxes. This Enhanced Severance pay will be paid in accordance with the Company’s normal payroll procedures, and will commence at the conclusion of the Severance Pay Period. 

  

	 	b)	Provided you timely elect to continue receiving group medical insurance pursuant to the federal “COBRA” law, 29 U.S.C. § 1161 etseq., the Company will continue to pay
the same portion of your health and dental coverage premiums that it provides for similar employees, during both the Severance Pay Period and the Enhanced Severance Pay Period, or until you become eligible for other coverage, whichever comes first.
During this period, the Company will continue to deduct the employee contribution to such benefits from your salary continuation payments. Thereafter, you may elect to continue receiving group medical insurance and all premium costs shall be paid by
you on a monthly basis for as long as, and to the extent that, you remain eligible for COBRA continuation. You should consult the COBRA materials to be provided by the Company for details regarding these benefits. 

  

	 	c)	Executive outplacement services will be arranged for you with Lee Hecht Harrison. Such services will continue throughout both the Severance Pay Period and the Enhanced Severance Pay
Period. The cost of the outplacement services will be paid by the Company. 

  

	 	d)	Upon the execution of this Agreement, the Company agrees to provide to Gavin a laptop computer similar in make, style and condition to the one utilized by him during his employment
with the Company. 

  

	 	e)	The Company agrees to make every effort to provide Gavin and his counsel with a copy of any press release related to Gavin’s separation from the Company as soon as possible,
but prior to its release to the public.Commercial Contract

 Exhibit 10.8 
  
 Commercial Contract 
  
 1. PURCHASE AND SALE: GEOPHARMA, INC. (BUYER) 
  
 agrees to buy and DYNAMIC HEALTH PRODUCTS, INC. (Seller) 
  
 agrees to sell the Property described as: Street Address: 6950 BRYAN DAIRY ROAD 
                                        
                                        
                     LARGO, FL 33777 
  
 Legal Description: SEE EXHIBIT A 
  
 and the following Personal Property: ________________________________________________________________________________________________________________ 

 
 ___________________________________________________________________________________________________________________________________________ 
  
 (all collectively referred to as the “Property”) on the terms and conditions set forth below. The “Effective Date” of this Contract is the date on
which the last of the Parties signs the latest offer. Time is of the essence in this Contract. Time periods of 5 days or less will be computed without including Saturday, Sunday, or national legal holidays and any time period ending on a Saturday,
Sunday or national holiday will be extended until 5:00 p.m. of the next business day. 
  

				
	 2. PURCHASE PRICE:
	  	$	 1,925,000.00
	 (a) Deposit held in escrow by
                                        
                                        
                                    
	  	$	__________
	 (b) Additional deposit to be made within              days from Effective
Date
	  	$	__________
	 (c) Total mortgages (as referenced in Paragraph 3)
	  	$	__________
	 (d)
Other:                                       
                                        
                                        
                                 
	  	$	__________
	 (e) Balance to close, subject to adjustments and prorations, to be made with cash, locally drawn
	  	$	1,925,000.00
	 certified or cashier’s check or wire transfer.
	  	 	 

  
 3. THIRD PARTY FINANCING: Within N/A
days from Effective Date (“Application Period). Buyer will, at Buyer’s expense, apply for third party financing in the amount of $
                     or             % or the purchase price to be amortized
over a period of              years and due in no less than              years and with a fixed Interest
rate not to exceed  ̈             % per year of variable interest rate not to
exceed 
  
  ̈             % at origination with a lifetime cap not to exceed
            % from initial rate, with additional terms as follows:
                    
___________________________________________________________________________________________________________________________________________ 
  
 Buyer will pay for the mortgage title insurance policy and for all loan expenses. Buyer will timely provide any and all credit, employment, financial and other
information reasonably required by any lender. Buyer will notify Seller immediately upon obtaining financing or being rejected by a lender. If Buyer, after diligent effort, fails to obtain a written commitment within
             days from Effective Date (“Financing Period”), Buyer may cancel the Contract by giving prompt notice to Seller and Buyer’s deposit(s) will be returned to
Buyer in accordance with Paragraph 9. 
  
 Buyer
(            ) (            ) and Seller
(            ) (            ) acknowledge receipt of a copy of this page, which is page 1 of 5 pages.

 TITLE: Seller has the legal capacity to and will convey marketable title to the Property by þ statutory warranty deed  ̈ other
                                    , free of liens, easements
and encumbrances of record or known to Seller, but subject to property taxes for the year of closing; covenants, restrictions and public utility easements of record; and (list any other matters to which title will be subject)
                                        
                     ; provided there exists at closing no violation of the foregoing and none of them prevents Buyer’s intended use
of the Property as 
 ________________________________________________________________________________________________________________________________________________________________________ 
  

	 	(a)	Evidence of Title: Seller will, at (check one)  ̈
Seller’s þ Buyer’s expense and within      days  ̈ from
effective Date þ prior to Closing Date  ̈ from date Buyer meets or waives financing contingency in
Paragraph 3, deliver to Buyer (check one)  ̈ a title insurance commitment by a Florida licensed title insurer and, upon Buyer recording
the deed, an owner’s deed, an owner’s policy in the amount of the purchase price for fee simple title subject only to exceptions stated above þ an abstract of title, prepared or brought current by an
existing abstract film or certified as correct by an existing firm. 

  
 However, if such an abstract is not available to Seller, then a prior owner’s title policy acceptable to the proposed Insurer as a base for reissuance of coverage. The prior policy will include copies of
all policy exceptions and an update in a format acceptable to Buyer from the policy effective date and certified to Buyer or Buyer’s closing agent together with copies of all documents recited in the prior policy and in the
update. 
  

	 	(b)	Title Examination: Buyer will, within 15 days from receipt of the evidence of title deliver written notice to Seller of title defects. Title will be deemed
acceptable to Buyer if (1) Buyer fails to deliver proper notice of defects or (2) Buyer delivers proper written notice and Seller cures the defects within      days from receipt of the notice
(“Curative Period”). If the defects are cured within the Curative Period, closing will occur within 10 days from receipt by Buyer of notice of such curing. Seller may elect not to cure defects if Seller reasonably
believes any defect cannot be cured within the Curative Period. If the defects are not cured within the Curative Period, Buyer will have 10 days from receipt of notice of Seller’s inability to cure the defects to elect whether to
terminate this Contract or accept title subject to existing defects and close the transaction without reduction in purchase price. The party who pays for the evidence of title will also pay related title service fees including title and abstract
charges and title examination. 

  

	 	(c)	Survey: (check applicable provisions below) 

  
  ̈ Seller will, within
     days from Effective Date, deliver to Buyer copies of prior surveys, plans, specifications, and engineering documents, if any, and the following documents relevant to this
transaction:________________________________________________________________________________________________________ 
 prepared for Seller or
in Seller’s possession, which show all currently existing structures. ̈ Buyer will, at  ̈ Seller’s  ̈ Buyer’s expense and within the time period allowed to
deliver and examine title evidence, obtain a current certified survey of the Property from a registered surveyor. If the survey reveals encroachments on the Property or that the improvements encroach on the lands of another, 
  
  ̈ Buyer will accept the Property with existing encroachments  ̈ such encroachments will constitute a title defect
to be cured within the Curative Period. 
  

	 	(d)	Ingress or Egress: Seller warrants that the Property presently has ingress and egress. 

  

	 	(e)	Possession: Seller will deliver possession and keys for all locks and alarms to Buyer at closing. 

  
 5. CLOSING DATE AND PROCEDURE: This transaction will be closed in Pinellas County,
Florida on or before the October 31, 2004 or within      days from Effective Date (“Closing Date”), unless otherwise extended herein.  ̈ Seller þ Buyer will designate the closing agent, Buyer and Seller will, within      days from Effective Date, deliver to Escrow Agent signed instructions
which provide for closing procedure. If an institutional lender is providing purchase funds, lender requirements as to place, time of day, and closing procedures will control over any contrary provisions of this Contract. 
  

	 	(a)	Costs: Buyer will pay taxes and recording fees on notes, mortgages and financing statements and recording fees for the deed. Seller will pay taxes on the deed
and recording fees for documents needed to cure title defects. If Seller is obligated to discharge any encumbrance at or prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances.

  

	 	(b)	Documents: Seller will provide the deed, bill of sale, mechanic’s lien affidavit, assignment of leases, updated rent roll, tenant and lender estoppel letters,
assignments of permits and licenses, corrective instruments and letters notifying tenants of the change in ownership/rental agent. If any tenant refuses to execute an estoppel letter, Seller will certify that information regarding the
tenant’s leas is correct. If Seller is a corporation, Seller will deliver a resolution of its Board of Directors authorizing the sale and delivery of the deed and certification by the corporate Secretary certifying the resolution and
setting forth facts showing the conveyance conforms with the requirements of local law. Seller will transfer security deposits to Buyer. Buyer will provide the closing statement mortgages and notes, security agreements and
financing statements. 

  
 Buyer
(            ) (            ) and Seller
(            ) (            ) acknowledge receipt of a copy of this page, which is page 2 of 5 pages.

 ( c ) Taxes, Assessments, Prorations: The following items will be made current and prorated q as of Closing Date q as of
                                ; real estate taxes, bond and assessment payments
assumed by Buyer, interest, rents, associated dues, insurance premiums acceptable to Buyer, operational expenses and
                                    . If the amount of taxes
and assessments for this current year cannot be ascertained, rates for the previous year will be used with due allowance being made for improvements and exemptions. Seller is aware of the following assessments affecting or potentially
affecting the
property:                                      
                          .Buyer will be responsible for all assessments of any kind which become due and
owing on or after Effective Date, unless the improvement is substantially completed by the Closing Date, in which case Seller will be obligated to pay the entire assessment. (d) FIRPTA Tax Withholding: The Foreign Investment in Real Property
Act (“FIRPTA”) requires Buyer to withhold at closing a portion of the purchase proceeds for remission to the Internal Revenue Service (“I.R.S.”) if Seller is a “foreign person” as defined by the Internal
Revenue Code. The parties agree to comply with the provisions of FIRPTA and to provide, at or prior to closing, appropriate documentation to establish any applicable exemption from the withholding requirement. If withholding is required and Buyer
does not have cash sufficient at closing to meet the withholding requirement, Seller will provide the necessary funds and Buyer will provide proof to Seller that such funds were properly remitted to the I.R.S. 
  

			
	 6. Escrow: Buyer and Seller
authorize____________________________________________________________________________________

	 Telephone:
                                        
        
	 	 Facsimile:
                                        
                    

	 Address:____________________________________________________________________________________________________________

  
 ____________________________________________________________________________________________________________ 
  
 to act as “Escrow Agent” to receive funds and other items and, and subject to clearance, disburse them in accordance with the terms of this Contract. Escrow
Agent will deposit all funds received in a q non-interest bearing escrow account q an interest bearing escrow account with interest accruing to
                                        
    with interest dispersed (check one) q at closing q at
                                        
     intervals. If Escrow Agent receives conflicting demands or has a good faith doubt as to Escrow Agent’s duties or liabilities under this Contract, he/she may (a) hold the subject matter of the escrow until the parties
mutually agree to its disbursement or until issuance of a court order or decision of arbitrator determining the parties’ rights regarding the escrow or (b) deposit the subject matter of the escrow with the clerk of the circuit court having
jurisdiction over the dispute. Upon notifying the parties of such action, Escrow Agent will be released from all liability except for the duty to account for items previously delivered out of escrow. If a licensed real estate broker, Escrow Agent
will comply with applicable provisions of Chapter 475, Florida Statues. In any suit or arbitration in which Escrow Agent is made a party because of acting as agent hereunder or interpleads the subject matter of the escrow. Escrow Agent will recover
reasonable attorney’s fees and costs at all levels, with such fees and costs to be paid from the escrowed funds or equivalent and charged and awarded as court or other costs in favor of the prevailing party. The parties agree that Escrow Agent
will not be liable to any person for misdelivery to Buyer or Seller of escrowed items, unless the misdelivery is due to Escrow Agent’s willful breach of this Contract or gross negligence. 
  
 7. Property Condition: Seller will deliver the Property to Buyer at the time agreed in
its present “as is” condition, ordinary wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition. Seller makes no warranties other than marketability of title. By accepting the Property
“as is”, Buyer waives all claims against Seller for any defects in the Property. (Check (a) or (b) ) 
  
 þ (a) As is: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its “as is”
condition. 
  
 q (b) Due Diligence Period
Buyer: Buyer will, at Buyer’s expense and within      days from Effective Date (Due Diligence Period”), determine whether the Property is suitable, in Buyer’s sole and absolute
discretion, for Buyer’s intended use and development of the Property as specified in Paragraph 4. During the Due Diligence Period, Buyer may conduct any tests, analyses, surveys and investigations (“inspections”) which
Buyer deems necessary to determine to Buyer’s satisfaction the Property’s engineering, architectural, environmental properties: zoning and zoning restrictions; flood zone designation and restrictions; subdivision regulations;
soil and grade; availability to access and public roads, water, and other utilities; consistency with local, state and regional growth management and comprehensive land use plans; availability of permits, government approvals and licenses;
compliance with American with Disabilities Act; absence of asbestos, soil and ground water contamination; and other inspections that Buyer deems appropriate to determine the suitability of the Property of Buyer’s intended use and
development. Buyer shall deliver written notice to Seller prior to the expiration of the Due Diligence Period of Buyer’s determination of whether or not the Property is acceptable. Buyer’s failure to comply with this
notice requirement shall constitute acceptance of the Property in its present “as is” condition. Seller grants to Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Due
Diligence Period for other purpose of conducting inspections; provided, however, that Buyer, its agents, contractors and assigns enter the Property and conduct inspections at their risk. Buyer shall indemnify and hold Seller
harmless from losses, damages, costs, claims and expenses of any nature, including attorney’s fees at all levels, and from liability to any person, arising from the conduct of any and all inspections or any work authorized by Buyer.
Buyer will not engage in any activity that could result in a mechanic’s lien being filed against the Property without Seller’s prior written consent. In the event this transaction does not close, (1) Buyer shall repair
all damages to the Property resulting from the inspections and return the Property to the condition it was prior to conduct of the Inspections, and (2) Buyer shall, at Buyer’s expense, release to Seller all reports and
other work generated as a result of the Inspections. Should Buyer deliver timely notice that the Property is not acceptable, Seller agrees that Buyer’s deposit shall be immediately returned to Buyer and the Contract
terminated. 
  
 Buyer (        )
(        ) and Seller (        ) (        ) acknowledge receipt of a copy of this page, which
is page 3 of 5 pages. 

 (3) Walk-through Inspection: Buyer may, on the day prior to closing or any other time mutually agreeable to the
parties, conduct a final “walk-through” inspection of the Property to determine compliance with this paragraph and to ensure that all Property is on the premises. 
  
 (d) Disclosures: 
  

	 	1.	Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed
to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health unit. 

  

	 	2.	Energy Efficiency: Buyer may have determined the energy efficiency rating of the building. If any is located on the Real Property. 

  
 8. OPERATION OF PROPERTY DURING CONTRACT PERIOD: Seller will continue to operate the
Property and any business conducted on the Property in the manner prior to Contract and will take no action that would adversely impact the Property, tenants, lenders or business, if any. Any changes, such as renting vacant space, that materially
affect the Property or Buyer’s intended use of the Property will be permitted þ only with Buyer’s consent q without Buyer’s consent.

  
 9. RETURN OF DEPOSIT: Unless otherwise specified in the Contract, in the event
any condition of this Contract is not met and Buyer has timely given any required notice regarding the condition having not been met, Buyer’s deposit will be returned in accordance with applicable Florida laws and regulations.

  
 10. DEFAULT: 
  

	(a)	In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make the title marketable after diligent effort, Buyer
may either (1) receive a refund of Buyer’s deposit(s) or (2) seek specific performance. If Buyer elects a deposit refund, Seller will be liable to Broker for the full amount of the brokerage fee. 

 

	(b)	In the event the sale is not closed due to any default or failure on the part of the Buyer, Seller may either (1) retain all deposit(s) paid or agreed to be paid by
Buyer as agreed upon liquidated damages, consideration for the execution of this Contract, and in full settlement of any claims, upon which this Contract will terminate or (2) seek specific performance. If Seller retains the deposit,
Seller will pay the Listing and Cooperating Brokers named in Paragraph 12, fifty percent of all forfeited deposits retained by Seller (to be split equally among the Brokers) up to the full amount of the brokerage fee.

  
 11. ATTORNEY’S FEES AND COSTS: In any claim or controversy
arising out of or relating to this Contract, the prevailing party, which for purposes of this provision will include Buyer, Seller and Broker, will be awarded reasonable attorney’s fees, cost and expenses. 
  
 12. BROKERS: Neither Buyer nor Seller has utilized the services of, or for any
other reason owes compensation to, a licensed real estate Broker other than: 
  
 (a) Listing Broker: ______________________________________________________________________________________________________________________________ 
  
 who is q an agent of ______________________________________________________________q a transaction
broker q a nonrepresentative and who will be compensated by q Sellerq Buyer q both parties
pursuant to q a listing agreement q other (specify) 
 ______________________________________________________________________________________________________________________________ 
 ______________________________________________________________________________________________________________________________ 
 ______________________________________________________________________________________________________________________________ 
  
  
 (b) Cooperating Broker:
__________________________________________________________________________________________________________________ 
  
 who is q an agent of _________________________________________________________________q a
transaction broker q a nonrepresentative and who will be compensated by qBuyer qSeller q both
parties pursuant to q an MLS or other offer of compensation to a cooperating broker q other (specify)
                                        
                       
 ______________________________________________________________________________________________________________________________ 
 ______________________________________________________________________________________________________________________________ 
 ______________________________________________________________________________________________________________________________ 
 (collectively
referred to as “Broker”) in connection with any act relating to the Property, including but not limited to inquiries, introductions, consultations, and negotiations resulting in this transaction. Seller and Buyer agree to
indemnify and hold Broker harmless from and against losses, damages, costs and expenses of any kind, including reasonable attorney’s fees at all levels, and from liability to any person, arising from (1) compensation claimed which is
inconsistent with the representative in this Paragraph, (2) enforcement action to collect a brokerage fee pursuant to Paragraph 10, (3) any duty accepted by Broker at the request of Buyer or Seller, which duty is beyond the scope of
services regulated by Chapter 475, F.S., as amended, or (4) recommendations of or services provided and expenses incurred by any third party whom Broker refers, recommends or retains for or on behalf of Buyer or Seller. 
 13, ASSIGNABILITY; PERSONS BOUND: This contract may be assigned to a related entity, and otherwise q is not assignable þ is assignable. The terms “Buyer,” “Seller” and “Broker” may be singular or plural. This Contract is binding upon Buyer, Seller, and their heirs, personal
representative, successors and assigns (if assignment is permitted). 
  
 Buyer
(        ) (        ) and Seller (        ) (        )
acknowledge receipt of a copy of this page, which is page 4 of 5 pages. 

 14. OPTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to this
Contract): 
  

					
	 q Arbitration
	 	q Seller Warranty	 	q Existing Mortgage
	 q Section 1031 Exchange
	 	 q Costal Construction Control Line
	 	 q
Other                    

	 q Property Inspection and Repair
	 	 q Flood Area Hazard Zone
	 	 q
Other                    

	 q Seller Representation
	 	 q Seller Financing
	 	 q
Other                    

  
 15. MISCELLANEOUS: The terms of this
contract constitute the entire agreement between Buyer and Seller. Modifications of this Contract will not be binding unless in writing, signed and delivered by the party being bound. Signatures, initials, documents referenced in this
Contract, counterparts and written modifications communicated electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or typewritten terms inserted in or attached to this Contract prevail
over preprinted terms. If any provision of this Contract is or becomes invalid or unenforceable, all remaining provisions will continue to be fully effective. This Contract will be construed under Florida law and will not record in any public
records. Delivery of any written notice to any party’s agent will be deemed delivery to that party. 
  
 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL FACTS AND REPRESENTATIONS THAT ARE IMPORTANT
TO THEM AND TO CONSULT AN APPROPRIATE PROFESSIONAL FOR LEGAL ADVICE (FOR EXAMPLE, INTERPRETING CONTRACTS, DETERMINING THE EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF TITLE, FOREIGN INVESTOR REPORTING REQUIREMENTS, ETC.) AND FOR TAX,
PROPERTY CONDITION, ENVIRONMENTAL AND OTHER SPECIALIZED ADVICE. BUYER ACKNOWLEDGES THAT BROKER DOES NOT OCCUPY THE PROPERTY AND THAT ALL REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) BY BROKER ARE BASED ON SELLER REPRESENTATIONS OR PUBLIC RECORDS
UNLESS BROKER INDICATES PERSONAL VERIFICATION OF THE REPRESENTATION. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND GOVERNMENTAL AGENCIES FOR VERIFICATION OF THE PROPERTY CONDITION, SQUARE FOOTAGE AND FACTS THAT MATERIALLY AFFECT
PROPERTY VALUE. 
  
 DEPOSIT RECEIPT: Deposit Receipt: Deposit of
$            by q              check q other
             received on             
            ,              by
________________________________________________________________________________________________________ 
 Signature of
Escrow Agent 
  
 OFFER: Buyer offers to purchase the Property on the above terms
and conditions. Unless acceptance is signed by Seller and a signed copy delivered to Buyer’s agent no later than             q a.m. q p.m. on                          ,
            . Buyer may revoke this offer and receive a refund of all deposits. 
  

			
	 Date: 10/25/04
	  	BUYER: /s/ Carol Dore Falcone  Tax ID No:
                            
		
	 	  	Title: VP/CFO                     Telephone: (727)
544-8866         Facsimile (727) 544-4386
	 	  	Address: 6950 Bryan Dairy Road, Largo, Florida 33777
		
	 Date:                          ,         
   
	  	BUYER:
                                   Tax ID No:
                            
		
	 	  	Title:
                                        
Telephone:                     
Facsimile:                    
	 	  	Address:                                     
                                        
                                   

  
 ACCEPTANCE: Seller accepts
Buyer’s offer and agrees to sell the Property on the above terms and conditions (subject to the attached counter offer). 
  

			
	 Date: 10/25/04
	  	SELLER: /s/ Mandeep K. Thaneja   Tax ID No:
                            
		
	 	  	 Title: CEO                    
Telephone: (727) 329-1845         Facsimile (727) 329-1846

	 	  	Address: 6911 Bryan Dairy Road, Largo, Florida 33777
		
	 Date:                          ,         
   
	  	SELLER:
                                        
Tax ID No:                             
		
	 	  	Title:
                                        
Telephone:                     
Facsimile:                    
	 	  	Address:                                     
                                        
                                   

  
 Buyer
(            ) (            ) and Seller
(            ) (            ) acknowledge receipt of a copy of this page, which is page 5 of 5 pages.

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