Document:

acad-ex103_94.htm

Exhibit 10.3

***Text Omitted and Filed Separately

with the Securities and Exchange Commission.

Confidential Treatment Requested

Under 17 C.F.R. Sections 200.80(b)(4) 

and 240.24b-2.

MSA Attachment No.4

This MSA Attachment No.4 (MSA Attachment No.4) is entered into among Siegfried Evionnaz SA, route du Simplon 1, 1902 Evionnaz, Switzerland (Siegfried Evionnaz) and Siegfried AG, Untere Bruehlstrasse 4, 4800 Zofingen, Switzerland (Siegfried Zofingen and collectively with Siegfried Evionnaz, Siegfried) and ACADIA pharmaceuticals GmbH, c/o KENDRIS AG, Seidenhofstrasse 14, 6003 Luzern, Switzerland (ACADIA) under the Master Services Agreement dated December 15, 2016 (the Agreement). Pursuant to the Agreement, Siegfried has agreed to perform certain Services in accordance with written MSA Attachments, such as this one, entered into from time to time. Capitalized terms used in this MSA Attachment No. 4 and not otherwise defined have the meanings given to them in the Agreement.

 

The Parties hereby agree as follows:

 

1. MSA Attachment

This document constitutes a MSA Attachment under the Agreement and this MSA Attachment No.4 and the Services contemplated herein are subject to the terms and provisions of the Agreement. In accordance with Section 2.1 of the Agreement, Siegfried Zofingen’s Affiliate Siegfried Evionnaz hereby opts into the terms of the Agreement with regard to this MSA Attachment No.4 and the Services contemplated herein. Except if expressly modified in this MSA Attachment No.4, the terms of the Agreement are hereby incorporated by reference herein. 

 

	
2.
	
Services, Product, and Materials

Services:

Pursuant to the terms of the Agreement, this MSA Attachment No.4 and each Work Order (defined below), stability study-related services related to Pimavanserin will be provided by Siegfried Evionnaz and/or Siegfried Zofingen for ACADIA upon full execution of each Work Order. 

Scope: 

The specific scope of the Services to be provided by Siegfried will be set forth in separate work orders as mutually agreed by the parties (each a Work Order) which shall be in substantially the same format as the work order template attached hereto as Exhibit A, which is incorporated herein by this reference. Each Work Order shall be subject to the terms of this MSA Attachment No. 4 and the Agreement.

	
Product:
	
Pimavanserin (API) and any of its intermediates

	
Consigned Material:
	
None

1 of 4

 

 

	
Raw Materials:
	
None

 

	
3.
	
Commercial Terms

Sales price:

	

	
Each Work Order shall include the total cost of Services to be provided under each such Work Order, which amount shall not be exceeded without ACADIA’s prior written consent.

Invoice Terms:

 

If applicable, [...***...]. 

 

[...***...]

 

Note: [...***...]

 

Invoicing will occur in Swiss Francs (CHF)

 

The Services herein will be conducted at either Siegfried’s facility in Evionnaz, Switzerland or Zofingen, Switzerland (as specified in each Work Order).

 

	
Term:
	
This MSA Attachment No.4 is entered into as of May 12, 2017 to be retroactively effective as of January 1, 2017 and, unless earlier terminated in accordance with the Agreement, shall continue in full force and effect for an initial period of [...***...] (the MSA Attachment No.4 Initial Period).  After the MSA Attachment No.4 Initial Period, this MSA Attachment No. 4 shall automatically renew for consecutive [...***...] periods each, unless one of the Parties notifies the other of its election not to renew this MSA Attachment No. 4 at least [...***...] prior to the end of the MSA Attachment No.4 Initial Period or any renewal period then in effect, in which case this MSA Attachment No. 4 shall terminate upon the expiration of such term. This MSA Attachment No.4 may be terminated earlier subject to and in accordance with the terms and conditions contained in the Agreement.

[Signature Page Follows]

Page 2 of 4

 

 

	
Signatures:
	

Siegfried Evionnaz SA

/s/ Luca Parlanti, Ph.D.                                          /s/ Horacio Comas

		
	
 

Luca Parlanti, Ph.D.

Head of Global Sales & Marketing

Custom Synthesis

Siegfried Evionnaz SA
	
 

Horacio Comas

Project Manager

Custom Synthesis

Siegfried Evionnaz SA

 

Siegfried AG

          

/s/ Anders Sjöberg                                                 /s/ Eva Mössl

		
	
 

Anders Sjöberg

Project Manager

Siegfried AG
	
 

Name:  Eva Mössl

Function:  VP, Sen. Key Account Management

Siegfried AG

	
 
	
 

 

	
ACADIA Pharmaceuticals GmbH
	
Purchase Order:  00021 (for all Work Orders processed under MSA Attachment 4)

/s/ Glenn F. Baity
Name:  Glenn F. Baity

Function:  Director

 

 

 

 

 

 

 

 

 

Page 3 of 4

 

 

Exhibit A

Work Order Template

 

Work Order #____

 

This Work Order #___ (this Work Order) is entered into as of _________________ (Effective Date) between ACADIA Pharmaceuticals GmbH (ACADIA) and [Siegfried Evionnaz SA or Siegfried AG] (Siegfried).  This Work Order is subject to the terms of the MSA Attachment No. 4 effective January 1, 2017 between the parties and the Master Services Agreement dated December 15, 2016 between ACADIA and Siegfried AG.

 

The parties hereby agree that Siegfried will perform the following stability study-related Services for ACADIA for a total cost not to exceed the “Work Order Amount” specified below:

 

Scope of Services:  

 

	
 
	
•
	
Stability Study Scope:

	
 
	
o
	
Define Product or Intermediate name and part number

	
 
	
o
	
Define subject campaign or lot numbers

	
 
	
o
	
Define stability study site (Evionnaz or Zofingen)

	
 
	
o
	
Duration of study for # of batch at standard condition [...***...].

	
 
	
o
	
Duration of study for # of batch/es at accelerated conditions.

	
 
	
o
	
Define Test Points  

	
 
	
o
	
Define Testing Required for Stability [...***...].

	
 
	
o
	
T = 0 testing will occur at product release.

	
 
	
o
	
Define Standard packaging [...***...]

	
 
	
o
	
Initiation will occur within [...***...]

 

	
 
	
•
	
Provide Stability Summary Table

 

	
 
	
•
	
Stability Study Cost/Work Order Amount:CHF

 

Approval:

 

The undersigned are duly authorized representatives of their respective parties and hereby agree to this Work Order as of the Effective Date:

 

[Siegfried Evionnaz SA or Siegfried AG]

 

__________________________________                 ____________________

Siegfried Project ManagerDate

 

 

__________________________________                 ____________________

SiegfriedDate

 

ACADIA Pharmaceuticals GmbH

 

_________________________________   ____________________

Glenn F. Baity, DirectorDate

Page 4 of 4

 

 

MSA Attachment No.5

 

This MSA Attachment No.5 (MSA Attachment No.5) is entered into among Siegfried Evionnaz SA, route du Simplon 1, 1902 Evionnaz, Switzerland (Siegfried Evionnaz) and Siegfried AG, Untere Bruehlstrasse 4, 4800 Zofingen, Switzerland (Siegfried Zofingen and collectively with Siegfried Evionnaz, Siegfried) and ACADIA pharmaceuticals GmbH, c/o KENDRIS AG, Seidenhofstrasse 14, 6003 Luzern, Switzerland (ACADIA) under the Master Services Agreement dated December 15, 2016 (the Agreement). Pursuant to the Agreement, Siegfried has agreed to perform certain Services in accordance with written MSA Attachments, such as this one, entered into from time to time. Capitalized terms used in this MSA Attachment No. 5 and not otherwise defined have the meanings given to them in the Agreement.

 

The Parties hereby agree as follows:

 

1. MSA Attachment

This document constitutes a MSA Attachment under the Agreement and this MSA Attachment No.5 and the Services contemplated herein are subject to the terms and provisions of the Agreement. In accordance with Section 2.1 of the Agreement, Siegfried Zofingen’s Affiliate Siegfried Evionnaz hereby opts into the terms of the Agreement with regard to this MSA Attachment No.5 and the Services contemplated herein. Except if expressly modified in this MSA Attachment No.5, the terms of the Agreement are hereby incorporated by reference herein. 

 

	
4.
	
Services, Product, and Materials

Services:

Pursuant to the terms of the Agreement, this MSA Attachment No. 5 and each Work Order (defined below), analytical development services related to Pimavanserin will be provided by Siegfried Evionnaz and/or Siegfried Zofingen for ACADIA upon full execution of each Work Order. 

 

Scope:

The specific scope of the Services to be provided by Siegfried will be set forth in separate work orders as mutually agreed by the parties (each a Work Order) which shall be in substantially the same format as the work order template attached hereto as Exhibit A, which is incorporated herein by this reference. Each Work Order shall be subject to the terms of this MSA Attachment No. 5 and the Agreement.  

 

	
Product:
	
Pimavanserin (API) and any of its intermediates

	
Consigned Material:
	
None

	
Raw Materials:
	
None

1

 

 

	
5.
	
Commercial Terms

Sales price:

	

	
Each Work Order shall include the total cost of Services to be provided under each such Work Order, which amount shall not be exceeded without ACADIA’s prior written consent.

	

	
 

Invoice Terms:

 

If applicable, [...***...].  

 

[...***...]

 

[...***...]

 

Invoicing will occur in Swiss Francs (CHF)

 

The Services herein will be conducted at Siegfried’s facilities at Evionnaz, Switzerland, Zofingen Switzerland and/or St. Vulbas, France (as specified in each Work Order).

 

	
Term:
	
This MSA Attachment No.5 is entered into as of May 12, 2017 to be retroactively effective as of January 1, 2017 and, unless earlier terminated in accordance with the Agreement, shall continue in full force and effect for an initial period of [...***...] (the MSA Attachment No.5 Initial Period).  After the MSA Attachment No. 5 Initial Period, this MSA Attachment No. 5 shall automatically renew for consecutive [...***...] periods each, unless one of the Parties notifies the other of its election not to renew this MSA Attachment No. 5 at least [...***...] prior to the end of the MSA Attachment No. 5 Initial Period or any renewal period then in effect, in which case this MSA Attachment No. 5 shall terminate upon the expiration of such term.  This MSA Attachment No.5 may be terminated earlier subject to and in accordance with the terms and conditions contained in the Agreement.

[Signature Page Follows]

2

 

 

	
Signatures:
	

Siegfried Evionnaz SA

/s/ Luca Parlanti, Ph.D.                                          /s/ Horacio Comas

		
	
 

Luca Parlanti, Ph.D.

Head of Global Sales & Marketing

Custom Synthesis

Siegfried Evionnaz SA
	
 

Horacio Comas

Project Manager

Custom Synthesis

Siegfried Evionnaz SA

 

Siegfried AG

          

/s/ Anders Sjöberg                                                 /s/ Eva Mössl

		
	
 

Anders Sjöberg

Project Manager

Siegfried AG
	
 

Name:  Eva Mössl

Function:  VP, Sen. Key Account Management

Siegfried AG

	
 
	
 

 

	
ACADIA Pharmaceuticals GmbH
	
Purchase Order:  00022 (for all Work Orders processed under MSA Attachment 5)

 

/s/ Glenn F. Baity
Name:  Glenn F. Baity

Function:  Director

3

 

 

Exhibit A

Work Order Template

 

Work Order #____

 

 

This Work Order #___ (this Work Order) is entered into as of _________________ (Effective Date) between ACADIA Pharmaceuticals GmbH (ACADIA) and [Siegfried Evionnaz SA or Siegfried AG] (Siegfried).  This Work Order is subject to the terms of the MSA Attachment No. 5 effective January 1, 2017 between the parties and the Master Services Agreement dated December 15, 2016 between ACADIA and Siegfried AG.

 

The parties hereby agree that Siegfried will perform the following analytical development Services for ACADIA for a total cost not to exceed the “Work Order Amount” specified below:

Scope of Services:

 

	
 
	
•
	
Analytical Development Scope:

	
 
	
o
	
Define Product or Intermediate name and part number

	
 
	
o
	
Define Tasks, Deliverables, Estimated Time of Initiation, Estimated Time of Completion.

 

 

	
 
	
•
	
Work Order Amount:CHF 

 

 

Approval:

 

The undersigned are duly authorized representatives of their respective parties and hereby agree to this Work Order as of the Effective Date:

 

[Siegfried Evionnaz SA or Siegfried AG]

 

 

__________________________________               ____________________

Siegfried Project ManagerDate

 

 

__________________________________               ____________________

SiegfriedDate

 

 

ACADIA Pharmaceuticals GmbH

 

 

_________________________________   ____________________

Glenn F. Baity, DirectorDate

 

4

 

 

MSA Attachment No.6

 

This MSA Attachment No.6 (MSA Attachment No.6) is entered into among Siegfried Evionnaz SA, route du Simplon 1, 1902 Evionnaz, Switzerland (Siegfried Evionnaz) and Siegfried AG, Untere Bruehlstrasse 4, 4800 Zofingen, Switzerland (Siegfried Zofingen and collectively with Siegfried Evionnaz, Siegfried) and ACADIA pharmaceuticals GmbH, c/o KENDRIS AG, Seidenhofstrasse 14, 6003 Luzern, Switzerland (ACADIA) under the Master Services Agreement dated December 15, 2016 (the Agreement). Pursuant to the Agreement, Siegfried has agreed to perform certain Services in accordance with written MSA Attachments, such as this one, entered into from time to time. Capitalized terms used in this MSA Attachment No. 6 and not otherwise defined have the meanings given to them in the Agreement.

 

The Parties hereby agree as follows:

 

1. MSA Attachment

This document constitutes a MSA Attachment under the Agreement and this MSA Attachment No.6 and the Services contemplated herein are subject to the terms and provisions of the Agreement. In accordance with Section 2.1 of the Agreement, Siegfried Zofingen’s Affiliate Siegfried Evionnaz hereby opts into the terms of the Agreement with regard to this MSA Attachment No.6 and the Services contemplated herein.  Except if expressly modified in this MSA Attachment No.6, the terms of the Agreement are hereby incorporated by reference herein. 

 

	
6.
	
Services, Product, and Materials

Services:

Pursuant to the terms of the Agreement, this MSA Attachment No. 6 and each Work Order (defined below), chemical development services (which may include ancillary analytical development support services) related to Pimavanserin will be provided by Siegfried Evionnaz and/or Siegfried Zofingen for ACADIA upon full execution of each Work Order.

 

Scope:

 

The specific scope of the Services to be provided by Siegfried will be set forth in separate work orders as mutually agreed by the parties (each a Work Order) which shall be in substantially the same format as the work order template attached hereto as Exhibit A, which is incorporated herein by this reference. Each Work Order shall be subject to the terms of this MSA Attachment No. 6 and the Agreement.  

 

 

1

 

	
Product:
	
Pimavanserin (API) and any of its intermediates

	
Consigned Material:
	
None

	
Raw Materials:
	
None

 

	
7.
	
Commercial Terms

Sales price:

	

	
Each Work Order shall include the total cost of Services to be provided under each such Work Order, which amount shall not be exceeded without ACADIA’s prior written consent.

Invoice Terms:

If applicable, [...***...].  

 

[...***...]

 

[...***...]

 

Invoicing will occur in Swiss Francs (CHF)

 

The Services herein will be conducted at Siegfried’s facilities at Evionnaz, Switzerland, Zofingen Switzerland and/or St. Vulbas, France  (as specified in each Work Order).

 

	
Term:
	
This MSA Attachment No.6 is effective as of May 12, 2017 and, unless earlier terminated in accordance with the Agreement, shall continue in full force and effect for an initial period of [...***...] (the MSA Attachment No.6 Initial Period).  After the MSA Attachment No.6 Initial Period, this MSA Attachment No. 6 shall automatically renew for consecutive [...***...] periods each, unless one of the Parties notifies the other of its election not to renew this MSA Attachment No. 6 at least [...***...] prior to the end of the MSA Attachment No.6 Initial Period or any renewal period then in effect, in which case this MSA Attachment No. 6 shall terminate upon the expiration of such term.  This MSA Attachment No.6 may be terminated earlier subject to and in accordance with the terms and conditions contained in the Agreement.

[Signature Page Follows]

 

2

 

	
Signatures:
	

Siegfried Evionnaz SA

/s/ Luca Parlanti, Ph.D.                                          /s/ Horacio Comas

		
	
 

Luca Parlanti, Ph.D.

Head of Global Sales & Marketing

Custom Synthesis

Siegfried Evionnaz SA
	
 

Horacio Comas

Project Manager

Custom Synthesis

Siegfried Evionnaz SA

 

Siegfried AG

          

/s/ Anders Sjöberg                                                 /s/ Eva Mössl

		
	
 

Anders Sjöberg

Project Manager

Siegfried AG
	
 

Name:  Eva Mössl

Function:  VP, Sen. Key Account Management

Siegfried AG

	
 
	
 

 

	
ACADIA Pharmaceuticals GmbH
	
Purchase Order:  00020 (for all Work Orders processed under MSA Attachment 6)

 

/s/ Glenn F. Baity
Name:  Glenn F. Baity

Function:  Director

3

 

Exhibit A

 Work Order Template

 

Work Order #____

 

 

This Work Order #___ (this Work Order) is entered into as of _________________ (Effective Date) between ACADIA Pharmaceuticals GmbH (ACADIA) and [Siegfried Evionnaz SA or Siegfried AG] (Siegfried).  This Work Order is subject to the terms of the MSA Attachment No. 6 effective January 1, 2017 between the parties and the Master Services Agreement dated December 15, 2016 between ACADIA and Siegfried AG.

 

The parties hereby agree that Siegfried will perform the following chemical development (and ancillary analytical development support) Services for ACADIA for a total cost not to exceed the “Work Order Amount” specified below:

 

Scope of Services:

 

	
 
	
•
	
Chemical development and analytical development support Scope:

	
 
	
o
	
Define Product or Intermediate name and part number

	
 
	
o
	
Define Tasks, Deliverables, Estimated Time of Initiation, Estimated Time of Completion.

 

 

	
 
	
•
	
Work Order Amount:CHF 

 

 

Approval:

 

The undersigned are duly authorized representatives of their respective parties and hereby agree to this Work Order as of the Effective Date:

 

[Siegfried Evionnaz SA or Siegfried AG]

 

 

__________________________________               ____________________

Siegfried Project ManagerDate

 

 

__________________________________               ____________________

SiegfriedDate

 

 

ACADIA Pharmaceuticals GmbH

 

 

_________________________________   ____________________

Glenn F. Baity, DirectorDate

 

 

 

 

4staf-ex41_32.htm

Exhibit 4.1

 

NEITHER THIS NOTE, NOR ANY SECURITIES CONSTITUTING INTEREST CONVERSION SHARES (DEFINED BELOW) THAT MAY BE ISSUED AS PROVIDED HEREIN, HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT.  THIS NOTE AND ANY SECURITIES CONSTITUTING INTEREST CONVERSION SHARES (DEFINED BELOW) THAT MAY BE ISSUED AS PROVIDED HEREIN, MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

The indebtedness and securities evidenced hereby are subordinated in accordance with and subject to the terms of that certain Subordination Agreement (as amended, restated, supplemented or modified from time to time, the “Subordination Agreement”), dated as of January 25, 2017, by and among Jackson Investment Group, LLC, a Georgia limited liability company, (“Subordinated Lender”), Staffing 360 Solutions, Inc., a DELAWARE corporation (“Parent”), certain of the Parent’s subsidiaries party thereto and MidCap Funding X Trust, in its capacity as agent (together with its affiliates and their respective successors and assigns, “Senior Agent”) for the Senior Lenders (as defined in the Subordination Agreement), AS AMENDED BY AMENDMENT NO. 1 DATED APRIL 5, 2017, and each holder and transferee of this instrument or agreement, by its acceptance hereof, irrevocably agrees to be bound by the provisions of the Subordination Agreement.

 

 

 

10% SUBORDINATED SECURED NOTE 

 

$1,600,000.00August 2, 2017

 

FOR VALUE RECEIVED, the undersigned, STAFFING 360 SOLUTIONS, INC., a Delaware corporation (the “Company”), hereby promises to pay to Jackson Investment Group, LLC (together with its successors and assigns, the “Purchaser”), the principal sum of ONE Million SIX HUNDRED THOUSAND Dollars ($1,600,000.00) on October 2, 2017 (or such earlier date upon any acceleration of this Note as provided for herein, the “Maturity Date”), together with interest (computed on the basis of a 360-day year of twelve 30 day months) (a) on the unpaid balance hereof at the rate of ten percent (10%) per annum, accruing from and after the date hereof and until the entire principal balance of this 10% Subordinated Secured Note (this “Note”) shall have been repaid in full, and (b) to the extent permitted by law, on any overdue payment of principal or interest, at a rate per annum from time to time equal to five percent (5%) in excess of the rate of interest otherwise payable hereunder. 

 

Payments of principal, interest and any other amount due with respect to this Note are to be made in lawful money of the United States of America at the address of the Purchaser as specified in Section 10.1 

1

 

of the Purchase Agreement (defined below) or at such other place as shall have been designated by the Purchaser by written notice from the Purchaser to the Company.

 

This Note has been issued pursuant to that certain Note and Warrant Purchase Agreement, dated as of January 25, 2017, among the Company, the Subsidiary Guarantors party thereto and the Purchaser, as amended by that certain Omnibus Amendment and Reaffirmation Agreement dated as of April 5, 2017, among Company, the Subsidiary Guarantors and the Purchaser and that certain Second Omnibus Amendment and Reaffirmation Agreement dated as of the date hereof, among Company, the Subsidiary Guarantors and the Purchaser (as so amended, and as the same may be further amended, restated supplemented or modified from time to time, the “Purchase Agreement”), and is entitled to the benefits thereof and is secured by and entitled to the benefits of the Security Documents and is guaranteed by each of the Subsidiary Guarantors pursuant to the guaranty provided for in Article 4 of the Purchase Agreement.  Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Purchase Agreement.

 

This Note is a registered Note and, as provided in the Purchase Agreement, upon surrender of this Note for registration of transfer, accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount (less any principal amount repaid prior to such transfer in accordance with the Purchase Agreement) will be issued to, and registered in the name of, the transferee.  Prior to due presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary.  The transfer or assignment of this Note by the Purchaser is subject to the provisions of Section 10.5 of the Purchase Agreement, and so long as no Default or Event of Default exists, the consent of the Company (which consent shall not be unreasonably withheld, delayed or conditioned).

 

This Note is subject to optional prepayment, in whole or from time to time in part, without penalty or premium, subject to the notice and other requirements as provided in Section 2.4(b) of the Purchase Agreement. 

 

All accrued and unpaid interest on the outstanding principal balance of the Subordinated Note shall be due and payable in full on the Maturity Date.

 

If an Event of Default occurs and is continuing, the principal of this Note and accrued interest on this Note may be accelerated and declared or otherwise become due and payable in the manner and with the effect provided in the Purchase Agreement.

 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS). THE TERMS OF SECTIONS 10.12 AND 10.13 OF THE PURCHASE AGREEMENT WITH RESPECT TO SUBMISSION TO JURISDICTION, CONSENT TO SERVICE OF PROCESS, VENUE AND WAIVER OF JURY TRIAL ARE INCORPORATED HEREIN BY REFERENCE, MUTATIS MUTANDIS, AND THE COMPANY AGREES TO SUCH TERMS.  

 

In no event shall the amount or rate of interest due and payable under this Note exceed the maximum amount or rate of interest allowed by Applicable Law and, in the event any such excess payment is made by the Company or received by Purchaser, such excess sum shall be credited as a payment of principal or, if no principal shall remain outstanding, shall be refunded to the Company.  It is the express intent hereof that Company shall not pay and Purchaser not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under Applicable Law.  

2

 

 

The Company hereby waives presentment, demand, protest or notice of any kind in connection with this Note.

 

STAFFING 360 SOLUTIONS, INC.

 

 

By: __/s/ Brendan Flood__________

Name: Brendan Flood

Title:   Executive Chairman

 

3

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