Document:

cdiiex-10_2.htm

 

 

Exhibit 10.2

 

Golden Trust Magnesium Industry Co., Ltd.

 

Equity Transfer Contract Amendment

 

 

Entered by

 

CDI China, Inc.

 

(Party A)

 

And

 

Yuwei Huang, Xumin Cui

 

(Party B)

 

And

 

Golden Trust Magnesium Industry Co., Ltd.

 

(Target Company)

 

And

 

Baotou Changxin Magnesium Co., Ltd.

 

 

January 12, 2011

 

  

  

  

This amendment (the “Amendment”) was entered by and between the following parties on January 12 , 2011 by:

	
(a)  

	
Party A:  CDI China, Inc., a Florida corporation its registered address at 431 Fairway Drive, Suite 200, Deerfield Beach, Florida 33441 (“Party A” or “CDII China”);

	
(b)  

	
Party B: Mr. Yuwei Huang and Xumin Cui (“Party B”), jointly own 27.5% of the total equity of Golden Trust Magnesium Industry Co., Ltd;

	
(c)  

	
Target Company: Golden Trust Magnesium Industry Co. Ltd., a limited liability company established and existing under the laws of China with its registered address at Loudong Village, Gucheng Town, Xiaoyi City, Shanxi Province, China (hereinafter referred to as “Golden Trust”).

Authorized Representative: Mr. Kong Tung

Occupation: Chairman and Legal Representative

Nationality: Hong Kong

	
(d)  

	
Baotou Changxin Magnesium Co., Ltd., a limited liability company established and existing under the laws of China with its registered address at Shiguai District Dafa, Baotou, China.

Authorized Representative of CDII: Yuejian Wang

Title:Chief Executive Officer

Nationality: U.S.

The parties above will be collectively referred to as the “Parties”, or individually referred to as “One Party”.

Through negotiation and consultation, the Parties agree to sign this amendment to the Golden Trust (“Target Company”) 27.5% Equity Transfer Contract (“Original Agreement”) dated August 30, 2011.

	
I.  

	
The clause in regards to the closing date under Section 4.3 of the Original Agreement is hereby amended to be February 29, 2012. The Parties agree to delete Section 4.3.1 in Original Agreement and replace it with:

4.3.1 Closing:   The date of closing (“Closing Date”) of the transactions contemplated by this Contract shall occur following completion of the conditions set forth in Section 4.4, and upon delivery of the Purchase Price as described in Section 4.2 herein. The Closing shall take place at a mutually agreeable time and place but in no event later than February 29, 2012.

	
II.  

	
If there is dispute between this Amendment and the Original Agreement, this Amendment shall prevail. This Amendment shall act as supplementary agreement to the Agreement, and is automatically terminated at the termination of the Agreement.

	
III.  

	
This Amendment shall have eight copies of the same format, each party holds two copies.

  

  

  

IN WITNESS WHEREOF, the parties signed this agreement dated above.

Party A: CDI China, Inc.

Signature: /s/ James (Yuejian) Wang

Printed Name: James (Yuejian) Wang

English Name:

Title:

Nationality:

 

Party B: Yuwei Huang and Xumin Cui

Signature: /s/ Yuwei Huang                                               /s/ Xumin Cui

Printed Name: Yuwei Huang                                                           Xumin Cui

English Name:

Title:

Nationality:

Target Company: Golden Trust Magnesium Industry Co., Ltd.

Signature: /s/ Kong Tung

Printed Name: Kong Tung

English Name:

Title:

Nationality:

Baotou Changxin Magnesium Co., Ltd.

Signature: /s/ James (Yuejian) Wang

Printed Name:  James (Yuejian) Wang

English Name:

Title:

Nationality:

Yuwei Huang

Signature: /s/ Yuwei Huang

Printed Name: Yuwei Huang

English Name:

Nationality:cdiiex-10_3.htm

 

 

Exhibit 10.3

 

[Chinese to English translation]

 

Lingshi Xinghai Magnesium Industry Co., Ltd.

 

Equity Transfer Contract Amendment

Entered by

Taiyuan Ruiming Yiwei Magnesium Industry Co., Ltd

(Party A)

And

Taiyuan Yiwei Magnesium Industry Co., Ltd.

 (Party B)

And

Lingshi Xinghai Magnesium Industry Co. Ltd.

(Target Company)

China Direct Industries, Inc.

And

CDI China, Inc.

And

Pine Capital Enterprises, Inc.

And

Yuwei Huang

January 12, 2012

  

  

  

This amendment (the “Amendment”) was entered by and between the following parties on January 12, 2012 by:

(a) Party A: Taiyuan Ruiming Yiwei Magnesium Industry Co. Ltd., a limited liability company formed and existing under the laws of China with registered address at Shagou Village, Yangqu County, Taiyuan, Shanxi Province, China.

Authorized Representative of Party A: Yuejian Wang

Title:Chairman

Nationality: U.S. Citizen

(b) Party B: Taiyuan Yiwei Magnesium Industry Co., Ltd, a limited liability company formed and existing under the laws of China with registered address at Yangqu County, Nitun Town, Fujiayao Village, the office address is 910, 9th Floor, MeGa Mall Business Center, 10 YiFen Street, Taiyuan City, ShanXi Province, China.

Authorized Representative of Party B: Yuwei Huang

Title: Chairman

Nationality: China

	
(c)  

	
Target Company: Lingshi Xinghai Magnesium Industry Co., Ltd., a limited liability company formed and existing under the laws of the China with registered address at ZhijiaZhuang Village, Duanchun Town, Lingshi County, JinZhong City, Shanxi Province, China

Authorized Representative of the Target Company: Xiangyun Zhai

Title:Chairman

Nationality: China

	
(d)  

	
CDII: China Direct Industries, Inc., a Florida corporation with its registered address at 431 Fairway Drive, Suite 200, Deerfield Beach, Florida 33441

Authorized Representative of CDII: Yuejian Wang

Title:Chief Executive Officer

Nationality: U.S.

	
(e)  

	
CDI China, Inc., a Florida corporation with its registered address at 431 Fairway Drive, Suite 200, Deerfield Beach, Florida 33441 (“CDI China”);

Authorized Representative of CDI China: Yuejian Wang

Title:Chief Executive Officer

Nationality: U.S.

	
(f)  

	
Pine Capital: Pine Capital Enterprises, Inc., a limited liability company formed and existing under the laws of the Cayman Islands with its registered address at 51, 5th Fl, Britannia House, Jalan Cator BS8811, BSB Brunei Darassalam.

Name: Xiaorui Su

Title: Executive Director

Nationality: China

(g) Yuwei Huang

Nationality: China

  

  

  

The parties above will be collectively referred to as the “Parties”, or individually referred to as “One Party”.

Through negotiation and consultation, the Parties agree to sign this amendment to the Lingshi Xinghai (“Target Company”) 100% Equity Transfer Contract (“Original Agreement”) dated August 30, 2011.

	
I.  

	
The clause in regards to the closing date under Section 4.3 of the Original Agreement is hereby amended to be February 29, 2012. The Parties agree to delete Section 4.3.1 in the Original Agreement and replace it with:

4.3.1 Closing:   The date of closing (“Closing Date”) of the transactions contemplated by this Contract shall occur following completion of the conditions set forth in Section 4.4, and upon delivery of the Purchase Price as described in Section 4.2 herein. The Closing shall take place at a mutually agreeable time and place but in no event later than February 29, 2012.

	
II.  

	
If there is dispute between this Amendment and the Original Agreement, this Amendment shall prevail. This Amendment shall act as supplementary agreement to the Agreement, and is automatically terminated at the termination of the Agreement.

	
III.  

	
This Amendment shall have fourteen copies of the same format, each party holds two copies.

  

  

  

Party A: Taiyuan Ruiming Yiwei Magnesium Industry Co., Ltd

Signature: /s/ James (Yuejian) Wang

Printed Name: James (Yuejian) Wang

English Name:

Title:

Nationality:

 

Party B: Taiyuan Yiwei Magnesium Industry Co. Ltd.

Signature: /s/ Yuwei Huang

Printed Name: Yuwei Huang

English Name:

Title:

Nationality:

Target Company: Lingshi Xinghai Magnesium Industry Co. Ltd.

Signature: /s/ Yuwei Huang

Printed Name: Yuwei Huang

English Name:

Title:

Nationality:

China Direct Industries, Inc.

Signature: /s/  James (Yuejian) Wang

Printed Name: James (Yuejian) Wang English Name:

Title:

Nationality:

CDI China, Inc.

Signature: /s/ James (Yuejian) Wang

Printed Name: James (Yuejian) Wang 

English Name:

Title:

Nationality:

Pine Capital Enterprises Inc.

Signature: /s/ Xiaorui Su

Printed Name: Xiaorui Su

English Name:

Title:

Nationality:

Yuwei Huang

Signature: /s/ Yuwei Huang

Printed Name: Yuwei Huang

English Name:

Nationality:dlyt_ex1028.htm

 EXHIBIT 10.28

EXECUTIVE COMPENSATION AGREEMENT

 

THIS EXECUTIVE COMPENSATION AGREEMENT (the “Agreement”) is made and entered into as of the 11th day of January 2012 (“Effective Date”) by and between DAIS ANALYTIC CORPORATION, a New York Corporation (“Company”), and TIMOTHY N. TANGREDI (“Executive”).

 

R E C I T A L S

 

WHEREAS, the Company and Executive are parties to an amended and restated employment agreement dated September 14, 2011 (the “Employment Agreement”);

 

WHEREAS, as of January 11, 2012, the Company owes accrued and unpaid compensation to Executive in the amount of $1,047,884, for services rendered to the Company as an executive in 2001 through 2012, and which continues to accrue to the extent not paid by the Company under the terms of the Employment Agreement (“Accrued Compensation”);

 

WHEREAS, the Company is contemplating an equity financing in the form of a public offering of its common stock, which shall result in gross proceeds of at least $6 million (“Equity Financing”);

 

WHEREAS, in connection with the Equity Financing, Executive is willing to accept payment for his accrued and unpaid compensation through and up to the date of the closing date thereof, in the form of a combination of shares of restricted common stock, at the price per share to be paid by investors in the Equity Financing, and cash, as described herein; and

 

WHEREAS, on January 9, 2012, the board of directors of the Company unanimously approved the terms of this Agreement.

 

A G R E E M E N T

 

NOW, THEREFORE, in consideration of the premises and mutual promises and agreement hereinafter set forth, it is agreed as follows:

 

1. Payment of Accrued Compensation in Shares and Cash.  Conditional on completion of the Equity Financing, on the closing date of the Equity Financing the Company shall promptly pay Executive a cash payment in the amount equal to Executive’s Accrued Compensation multiplied by a percentage equal to the highest marginal federal individual income tax rate plus Executive’s share of applicable state, local and/or employment taxes (the “Cash Compensation”).  In addition, conditional on completion of the Equity Financing, on the closing date of the Equity Financing the Company shall promptly pay to Executive in the form of restricted common stock of the Company (the “Share Compensation”) the number of shares equal to (i) the Executive’s Accrued Compensation, minus the Cash Compensation, divided by (ii) the public offering price per share to be paid by investors in the Equity Financing, rounded to the nearest full share.

 

  

1

  

 

2. Termination.  This Agreement shall immediately terminate and shall have no force or effect, if the Equity Financing is not completed on or prior to February 28, 2012.

 

3. Miscellaneous.

 

a. Governing Law.  This Agreement shall be governed by Florida law without regard to the conflicts of laws principles thereof.

 

b. Non-Contravention.  Executive represents and warrants that the execution, delivery and performance of this Agreement do not and will not contravene, conflict with or otherwise violate the terms of any written or oral agreement among Executive and one or more third parties.

 

c. Arbitration.  Disputes between the parties arising under or with respect to this Agreement shall be submitted to arbitration in Hillsborough County, Florida by a single arbitrator under the rules of the American Arbitration Association, and the arbitration award shall be binding upon the parties and enforceable in any court of competent jurisdiction. The cost of arbitration, including counsel fees, shall be borne by the Company unless the arbitrator determines that the Executive’s position was frivolous and without reasonable foundation.

 

d. Notices.  Any notice or communication to be given under the terms of this Agreement shall be in writing and delivered in person or deposited, certified or registered, in the United States mail, postage prepaid, addressed as follows:

 

If to Company:

Dais Analytic Corporation

11552 Prosperous Drive

Odessa, FL  33556

Attn:  President

If to Executive:

Timothy N. Tangredi

10416 Pontofino Circle

Trinity, FL  34655

or at such other address as either party may from time to time designate by notice hereunder. Notices shall be effective upon delivery in person or, if mailed, at midnight on the third business day after the date of mailing

 

e. Modifications and Amendments.  This Agreement shall not be modified, altered or amended except by a written agreement signed by the parties hereto.  This Agreement shall not be deemed to modify, alter or amend the Employment Agreement in any respect.

 

f. Entire Agreement.  This Agreement together with the documents referred to herein or contemplated hereby constitute and embody the full and complete understanding and agreement of the parties hereto with respect to the subject matter hereof and supersede all prior understandings or agreements whether oral or in writing with respect to the subject matter hereof.

 

  

2

  

 

g. Benefit and Binding Effect.  This Agreement shall be binding upon and inure to the benefit of Company and its successors and assigns, including any corporation, person or other entity which may acquire all or substantially all of the business of Company or any other corporation with or into which Company is consolidated or merged, and Executive and his heirs, executors, administrators and legal representatives, provided, however, that the obligations of Executive hereunder may not be delegated or assigned.

 

h. Severability.  If any portion of this Agreement may be held to be invalid or unenforceable for any reason whatsoever, it is agreed that said invalidity or unenforceability shall not affect the other portions of this Agreement and that the remaining covenants, terms and conditions, or portions thereof, shall remain in full force and effect, and any court of competent jurisdiction may so modify the objectionable provisions as to make it valid, reasonable and enforceable.

 

i. Headings; Interpretation.  The section headings used herein are for convenience and reference only and are not intended to define, limit or describe the scope or intent of any provision of this Agreement. When used in this Agreement, the term “including” shall mean without limitation by reason of enumeration. Words used herein in the singular shall include the plural.

 

j. Waiver.  The failure of either party to insist, in any one or more instances, upon strict performance of any of the terms or conditions of this Agreement shall not be construed as a waiver or a relinquishment of any right granted hereunder or of the future performance of any such term, covenant or condition, but the obligations of either party with respect thereto shall continue in full force and effect.

 

k. Counterparts.  This Agreement may be executed in any number of counterparts, each of whom shall be deemed a duplicate original.

 

[REMAINDER OF PAGE LEFT BLANK INTENTIONALLY]

 

  

3

  

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 

	EXECUTIVE:	 	 	DAIS ANALYTIC CORPORATION	 
	 	 	 	 	 
	
/s/ Timothy N. Tangredi  

	 	 	
/s/ Robert Schwartz 

	 
	
Timothy N. Tangredi

	 	 	
Robert Schwartz

	 
	
 

	 	 	
Authorized Signatory

	 

 

  

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