Document:

exhibit_10-18.htm

Exhibit 10.18

 

D. WECKSTEIN & Co., INC.

230 PARK AVENUE, SUITE 1510

NEW YORK, NEW YORK 10169

 

 

	 FAX 212 986-8503	 (212) 888-3422	 (800) 366-1250	 TRADING@MAX*KATLIN.COM

 

August 5, 2011

Visualant, Inc.

500 Union Street, Suite 406

Seattle, WA 98101

Attn: Mr. Ron Erickson

Gentlemen:

This will confirm and constitute our agreement, whereby Visualant, Inc. (VSUL) (the company) employs us as a financial consultant and investment banker in seeking to obtain equity or debt financing through public or private offering of debt or equity securities and in seeking mergers and acquisition candidates.

As compensation for our services under this agreement, D. Weckstein & Co., Inc. ("we", "us" 'our"), shall receive Ten Thousand US Dollars (US$10,000.00) payable upon execution of this agreement and One Million (1,000,000) investment shares in Visualant, Inc. (VSUL) common shares.

As part of our services we will also provide you with strategic planning to help the Company meet its short-term objectives, including, but not limited to, strategic planning, meeting in our offices between our principals and representatives of the Company as requested.

You further agree that if in connection with financial transaction in which the Company may be involved, such as mergers, acquisitions, joint ventures, debt or lease placements and similar or other on balance or off-balance sheet corporate finance transactions, where we shall first introduce to the Company to any other party or entity and that as a result of such introduction a transaction between such party or entity and the Company is consummated ("a consummated transaction"), then the Company shall pay us a fee of 10% (ten percent) of the consideration paid to the Company or the value of the consummated transaction, in cash, upon the closing of the consummated transaction, irregardless of whether the consideration to the Company is received on current basis or in installments. By way of example, if the consummated transaction involved securities of the acquiring entity (whether securities of the Company, if the Company is the acquiring party or securities of another entity if the Company is the selling party) having a value of $5,000,000.00, the consideration paid us in cash at the closing shall be $500,000.00. Where we have introduced a party to the Company and a transaction is consummated within three years of such introduction, it shall be presumed, for purposes of this agreement that the transaction resulted from our introduction.

This agreement shall remain in effect through July 31, 2016. 

 

Notwithstanding anything herein to the contrary, if you shall, at any time prior to one year following the termination of this agreement conclude a consummated transaction with a party introduced by us to you during the term of this agreement, you shall pay us the fees set forth in the preceding paragraph.

 

If the foregoing letter meets with your approval and correctly states our agreement, kindly so signify by signing a copy of this letter where indicated below and returning it to me.

Very truly yours,

        D. Weckstein & Co., Inc.

        By: /s/ Donald E. Weckstein 

        Donald E. Weckstein, President

 

 

ACCEPTED AND AGREED TO:

 

Visualant, Inc.

 

/s/ Ron Erickson 

Ron Erickson, CEOexhibit_10-37.htm

Exhibit 10.37

 

AMENDMENT NO. 1 TO LEASE

 

This AMENDMENT NO. 1 TO LEASE (this "Amendment") is made this 14th day of June, 2013, by and between Logan Building LLC, a Delaware limited liability company ("Landlord»), and Visualant, Inc., a Washington corporation ("Tenant").

 

RECITALS:

 

A. Landlord and Tenant are parties to that certain Lease dated July 11, 2012 (the "Lease"). Pursuant to the Lease, Landlord has leased to Tenant Suite 420 {the "Premises") located on the 4th floor of the building commonly known as the Logan Building located at 500 Union Street, Seattle, Washington (the "Building''). Landlord and Tenant desire to expand the Premises by adding Suite 450 located on the 4th floor of the Building.

 

B. Landlord and Tenant also desire to make certain other changes to the Lease.

 

NOW, THEREFORE, in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:

 

1. Expansion of Premises. As of July 1, 2013 (the "Effective Date"), the Premises shall be expanded by adding Suite 450 {the "Expansion Space") located on the 4th floor of the Building to the Premises. From and after the Effective Date the Premises shall consist of Suite 420 and Suite 450. Landlord and Tenant stipulate and agree that the Expansion Space contains 994 rentable square feet of space.

 

2. Rent. As of the Effective Date, the schedule of Base Rent payable with respect to the Premises during the period commencing on the Effective Date and ending on the August 31, 2014, is the following:

 

Original Premises

 

	
 

Period

	 	
Monthly Base Rent

	 
	
July 1, 2013 -August 31, 2013

	 	$	1,943.50	 
	
September 1, 2013 -August 31,2014

	 	$	2,028.00	 

 

Expansion Space

 

	
 

Period

	  	
Monthly Base Rent

	  
	
July 1, 2013 - June 30, 2014

	  	
$

	
2,029.42

	  
	
July 1, 2014-August 31, 2014

	  	
$

	
2,112.25

	  

 

 

 

 

1

 

 

 

Entire (combined) Premises

	
 

Period

	 	
Monthlv Base Rent

	 
	
July 1, 2013 -August 31, 2014

	 	$	3,972 .92	 
	
September 1, 2013 - May 31, 2014

	 	$	4,057.42	 
	
July 1, 2014 -August 31, 2014

	 	$	4,140.25	 

 

All such Monthly Base Rent shall be payable by Tenant in accordance with the terms of the Lease, as amended.

 

3. Security Deposit. Landlord shall continue to hold the existing Security Deposit.

 

4. Tenants Share. During the period commencing on the Effective Date and ending on the August 31, 2014, Tenant's Share is 1.76%.

 

5. Condition of Premises.  Tenant accepts the Premises in their "AS IS" condition, except only that Landlord, at its cost, shall steam clean the existing carpet in the Expansion Space.

 

6. Relocation; Redevelopment. Except to the extent expressly limited herein, Landlord reserves full rights to control the Property (which rights may be exercised without subjecting Landlord to claims for constructive eviction, abatement of Rent, damages or other claims of any kind), including more particularly , but without limitation, the following rights:

 

(a)  New Premises. To substitute for the Premises other premises (herein referred to as the "new premises") in the Building, provided: (i) the new premises shall be similar to the Premises in size (up to 10% larger or smaller with the Rent and any other rights and obligations of the parties based on the square footage of the Premises adjusted proportionately to reflect any decrease) , (ii) Landlord shall provide the new premises in a condition substantially comparable to the Premises at the time of the substitution (and Tenant shall diligently cooperate in the preparation or approval of any plans or specifications for the new premises as requested by Landlord or Landlord's representatives), (iii) the parties shall execute an appropriate amendment to the Lease confirming the change within thirty (30) days after Landlord requests, and (iv) if Tenant shall already have taken possession of the Premises: (a) Landlord shall pay the direct, out of pocket, reasonable expenses of Tenant in moving from the Premises to the new premises, and (b) Landlord shall give Tenant at least thirty (30) days' notice before making such change, and such move shall be made during evenings, weekends , or otherwise so as to incur the least inconvenience to Tenant.  Tenant shall surrender and vacate the Premises on the date required in Landlord's notice of substitution, in the condition and as required under Section 22, and any failure to do so shall be subject to Section 23.

 

(b) Redevelopment.  To cancel this Lease at any time by giving Tenant at least twelve (12) months' prior written notice from the first day of any calendar month but only in the event Landlord intends to demolish the Building or intends to permit a major alteration to the Building, which in the judgment of Landlord requires vacancy of the Building.

 

7. Brokers. Landlord has retained Kidder Mathews ("Landlord's Agent") as leasing agent in connection with this Amendment and Landlord will be solely responsible for any fee that may be payable to Landlord's Agent.  Tenant has retained Scott Driver & Company, P.S. ("Tenant's Broker") as its agent in connection with this Amendment.  Landlord agrees to pay a commission to Tenant's Broker pursuant to a separate agreement. Each of Landlord and Tenant represents and warrants to the other that neither it nor its agents have dealt with any broker in connection with this Amendment other than Landlord's Agent and Tenant's Broker. Each of Landlord and Tenant shall indemnify and hold the other party harmless from and against any and all losses which the indemnified party may incur by reason of any claim of or liability to any broker, finder or like agent (other than Landlord's Agent and Tenant's Broker) arising out of any dealings claimed to have occurred between the indemnifying party and the claimant in connection with this Amendment, and/or the above representation being false.

 

 

 

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8. No Other Modifications. Except as expressly amended herein, all of the terms, conditions and provisions of the Lease shall remain in full force and effect and unmodified.

 

 

DATED the date and year first above written.

 

	 	LANDLORD:	 
	 	
LOGAN BUILDING LLC,

a Delaware limited liability company

	 
	 	 	 
	
 

	
By: 

	Unico/APL Logan LLC,	 
	 	 	
a Delaware limited liability company,

	 
	 	 	
Member and Manager

	 
	 	 	 	 
	 	 	 	 
	 	 	MANAGER:	 
	 	By:	Unico Investment Group LLC,	 
	 	 	a Delaware limited liability company,	 
	 	 	 	 
	 	 	 	 
	 	 	TENANT	 
	 	 	Visualant, Inc., a Washington corporation	 
	 	By:	By: /s/ Mark Scott	 
	 	 	Its: Mark Scott, It’s Chief Financial Officer	 

 

 

 

 

 

 

 

 

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