Document:

exh10-47.htm

Exhibit 10.47

ASSIGNMENT AGREEMENT

This Assignment Agreement (the "Agreement") is made by and among Big Tree Group Inc. (the "Debtor"), China Direct Investments, Inc. (the "Assignor") and JSJ INVESTMENTS, INC. (the "Assignee"), this 30th day of January 2014 (the Debtor, the Assignor and the Assignee are sometimes referred to in this Agreement singly as a "Party" or collectively as the "Parties.").

RECITALS

WHEREAS, the Assignor desires to assign to Assignee, and Assignee desires to assume, One Hundred and three thousand two hundred sixteen dollars ($103,216) of Assignor’s rights, title and interests in, to and under that certain Convertible Promissory Notes issued by Debtor on May 21, 2012 and May 1, 2013 in the original principal amount of $103,216, (the “Original Note”), attached as Exhibit A; and

WHEREAS, the Debtor is willing to issue to the Assignee, for the fulfillment of the assignment of the Original Notes to Assignee, a revised promissory note of even date (the "Replacement Note"), attached as Exhibit B in the principal amount of $103,216 principal balance of the Original Notes at January 30, 2014;  and

WHEREAS, to effectuate this understanding, the Parties agree to enter into this Agreement.

NOW THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each of the parties hereto, the parties hereto agree as follows:

1. Assignment. Subject to and in accordance with the terms and conditions set forth in this Agreement, the Assignor hereby grants, sells, assigns, and conveys to the Assignee, without recourse, all of the Assignor’s right, title and interest in and to the Original Notes, subject to the Retained Interest as provided herein. Within five (5) business days of receipt of the Initial Payment (as set forth below) by Assignor from Assignee by wire transfer, Debtor shall mail to the Assignee at the address provided to it, the original of the Replacement Note.

2. Consideration. In consideration for the assignment of the Original Notes, Assignee shall pay to the Assignor $103,216 in full, to be paid to Assignor in lawful money of the United States of America by wire transfer commencing November 18, 2013 (the “Closing Date”) to the Assignor’s designated account as set forth in the Disbursement Memorandum, attached hereto as Exhibit C, payable as follows:

Date: Amount:

01/30/2014 $42,000

3. Replacement Note. The Debtor hereby renews and affirms the Original Note, extended through the Replacement Note, as a legally binding obligation of the Debtor, regardless of any termination date or statute of limitation, and hereby extends the obligation through the Replacement Note until the satisfaction of the Replacement Note, with all accrued interest. It is a condition to closing of the transactions contemplated by this Agreement that the fully executed Replacement Note is delivered to the Assignee as provided herein. The Replacement Note provides that in the event of a default by Assignee in the timely payment of any instalment amount due hereunder to Assignor, then Assignor may demand that Debtor give Notice of Default to Assignee, which Notice shall provide Assignee with five (5) business days from the date of the Notice of Default to cure the default by making the full instalment payment or payments then due to Assignor, and, on failure of Assignee to do so, to cause the remaining principal balance on the Replacement Note, plus all accrued interest thereon (the “Default Amount”), to be paid and satisfied in full by the issue and delivery to Assignor by Debtor, with a copy to Assignee, of a Substitute Promissory Note on the same terms as the Replacement Note, in the principal amount of the Default Amount. If there are any conflicts between the provisions of this Agreement and the provisions of the Replacement Note, the provisions of the Replacement Note will govern.

  

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4. Representations of Assignor. Assignor hereby represents and covenants to Assignee that:

 a. The outstanding principal of the Original Notes, as of January 30 , 2014 is at least $ 103,216.

b. Assignor’s interest in and to the Original Notes is free and clear of all liens, encumbrances, obligations or defects which are of record prior to the date of this Agreement.

c. (i) Assignor has all requisite power and authority to enter into and perform this Agreement and to consummate the transactions contemplated hereby and to sell the relevant Note in accordance with the terms hereof, (ii) the execution and delivery of this Agreement by Assignor and the consummation by Assignor of the transactions contemplated hereby have been duly authorized by Assignor and no further consent or authorization of Assignor is required, (iii) this Agreement has been duly executed and delivered by Assignor, and (iv) this Agreement constitutes a legal, valid and binding obligation of Assignor enforceable against Assignor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies or by other equitable principles of general application.

d. The execution, delivery and performance of this Agreement by Assignor and the consummation by Assignor of the transactions contemplated hereby will not (i) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, note, bond, indenture or other instrument to which Assignor is a party, or (ii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations of any self-regulatory organizations to which Assignor is subject) applicable to Assignor or by which any property of the Assignor are bound or affected. Except as specifically contemplated by this Agreement and as required under the 1933 Act and any applicable federal and state securities laws, neither Assignor nor the Debtor is required to obtain any consent, authorization or order of, or make any filing or registration with, any court, governmental agency, regulatory agency, self-regulatory organization or stock market or any third party in order for it to execute, deliver or perform any of its obligations under this Agreement in accordance with the terms hereof. Except for filings that may be required under applicable federal and state securities laws by Debtor in connection with the issuance and sale of the Replacement Note, all consents, authorizations, orders, filings and registrations which Assignor is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the Closing Date .

e. Assignor has taken no action which would give rise to any claim by any person for brokerage commissions, finder’s fees or similar payments relating to this Agreement or the transactions contemplated hereby.

f. Assignor has owned the Original Note since the Issuance Date. Assignor is not, and for a period of at least ninety (90) days prior to the date hereof has not been, an “Affiliate” of the Debtor, as that term is defined in Rule 144 of the 1933 Act. Subsequent to the Closing Date, Assignor will take no action which would adversely affect the tacking holding period under Rule 144.

g. Assignor makes no representations or warranties with respect to the Debtor, its financial status, earnings, assets, liabilities, corporate status or any other matter.

5. Representations of Debtor. The Debtor hereby represents and warrants the following:

a. The Debtor will reserve for issuance sufficient shares of authorized but unissued common stock of the Debtor (“Common Stock”) for the issuance of the Common Stock in case of conversion of the Replacement Note by the Assignee.

b. All consideration advanced to Debtor by the Assignor constituting the Debt have been and were fully paid and rendered through the acquisition of assets and businesses which closed on September 30, 2010 for legitimate business purposes.

c. The outstanding principal amount of the Original Notes as of the date of this Agreement is at least $103,216.

d. As of the date hereof, the Debtor has not paid the portion of the debt represented by the Original Note to be assigned hereunder to the Assignor nor has that portion of the Original Note been previously converted into equity of the Debtor.

  

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e. The Assignor or any affiliate of Assignor (collectively, jointly and severally, “Assignor’s Affiliate”) is not now, and has not been during the preceding three months, an officer, director, or more than 5% shareholder of the Debtor or in any other way an “affiliate” of the Debtor as that term is defined in Rule 144(a)(1) as promulgated under the Securities Act.

f. The Original Note Holder or any affiliate of the Original Note Holder (collectively, jointly and severally, “Original Note Holder’s Affiliate”) is not now, and has not been during the preceding three months, an officer, director, or more than 5% shareholder of the Debtor or in any other way an “affiliate” of the Debtor as that term is defined in Rule 144(a)(1) as promulgated under the Securities Act.

g. Upon conversion at any time following the date hereof, the shares converted in accordance with this Agreement shall be issued unrestricted pursuant to exemptions provided under Rule 144.

h. The resolutions of the Debtor's Board of Directors dated as of the date and contained in the secretary’s certificate attached hereto as Exhibit C remain in full force and effect.

i. The Debtor is afully-reporting company under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Debtor is up to date and current in all of its Exchange Act filings; and the Debtor’s Exchange Act filings do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not misleading.

j. The Debtor is not a" shell company" as that term is defined in Rule 144(i)(l)(i) under the Act nor has the company been a “shell company” for a period of at least one year. The Debtor does not have nor has had at any time since the date of the Original Note, (i) no or nominal operations; and, (ii) either (a) nominal assets; (b) assets consisting solely of cash and cash equivalents; or (c) assets consisting of any amount of cash and cash equivalents and nominal other assets.

k. The Debtor has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby and otherwise to carry out the Debtor’s obligations hereunder. Other than the consent and approval of the board of directors of the Debtor which has been obtained, no consent, approval or agreement of any individual or entity is required to be obtained by the Debtor in connection with the execution and performance by the Debtor of this Agreement or the execution and performance by the Debtor of any agreements, instruments or other obligations entered into in connection with this Agreement. This Agreement constitutes the legal, valid and binding obligation of the Debtor.

m. Neither the execution of this Agreement by the Debtor nor the consummation of the transactions contemplated hereby will result in a breach or violation of the terms of any agreement by which the Debtor is bound, or of any decree, judgment, order, law or regulation now in effect of any court or other governmental body applicable to the Debtor

6. Representations of Assignee. The Assignee hereby represent and covenant, individually, to the Debtor that:

a. Assignee has all requisite power and authority to execute and deliver this Agreement and any other document contemplated by this Agreement to be signed by the Assignee and to perform its obligations hereunder and to consummate the transactions contemplated hereby;

b. Assignee understands that the shares to be issued upon conversion of the Replacement Note have not been, and may not be, registered under the Securities Act of 1933, as amended (the “Securities Act”) by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of Assignee’s representations as expressed herein or otherwise made pursuant hereto;

c. Assignee has substantial experience in evaluating and investing in securities of companies similar to the Debtor and acknowledge that it can protect its own interests. Assignee has such knowledge and experience in financial and business matters so it is capable of evaluating the merits and risks of its investment in the Debtor. Assignee are “accredited Assignee” within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission under the Securities Act;

d. Assignee has had an opportunity to receive all information related to the Debtor requested by them and to ask questions of and receive answers from the Debtor regarding the Debtor, and its business. Assignee have reviewed the Debtor’s periodic reports on file with Securities and Exchange Act filings;

e. Assignee understands that there is a limited trading market for the shares issued upon conversion of the Replacement Note and that an active market may not develop for the shares.

  

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f. Assignee represents and warrants that it has read the terms of the Replacement Note and agrees

to such terms.

7. Entire Agreement. This Agreement constitutes the entire agreement between the parties in respect of the assignments contemplated hereby and there are no warranties, representations, terms, conditions, or collateral agreements expressed or implied, statutory or otherwise, other then expressly set forth in this Agreement. This Agreement expressly supersedes and replaces any and all prior understandings or agreements between the parties with respect to the subject matter of this Agreement.

8. All Further Acts. Each of the parties hereto will do any and all such acts and will execute any and all such documents as may reasonably be necessary from time to time to give full force and effect to the provisions and intent of this Agreement. The Assignor further agrees that it will, at any time and from time to time after the date hereof, upon the Assignee request, execute, acknowledge and deliver or cause to be executed and delivered, all further documents or instruments necessary to effect the transactions contemplated in this Agreement.

9. Legal Opinion. Upon any conversion of the Replacement Note by the Assignee, the Assignee shall have delivered to the Debtor, an opinion of counsel (the “Opinion”) that shall be in form, substance and scope customary for opinions of counsel in corporate transactions, sold or transferred pursuant to an exemption from such registration, such as Rule 144 of the Securities Act (“Rule 144”) or Regulation S of the Securities Act and thus issued by the Debtor’s transfer agent without restrictive legend. The Opinion shall be accepted by the Debtor. In the event that the Debtor does not accept the Opinion provided by the Assignee with respect to the transfer of the Conversion Shares pursuant to an exemption from registration within three (3) business days of delivery of the Opinion to the Debtor, in addition to such failure to be an event of default pursuant to the Replacement Note, the Debtor shall pay to the Assignee liquidated damages of five percent (5%) of the outstanding amount of the Replacement Note per day plus accrued and unpaid interest on the Replacement Note, prorated for partial months, in cash or shares at the option of the Assignee.

10. Jurisdiction and Venue. The Parties agree that this Agreement shall be construed solely in accordance with the laws of the State of Florida, notwithstanding its choice or conflict of law principles, and any proceedings arising among the Parties in any matter pertaining or related to this Agreement shall, to the extent permitted by law, shall be brought only in the state courts of Florida or in the federal courts located in the state and county of Florida.

11. Reliance. Each party hereto hereby acknowledges and agrees that the intended third party beneficiary may rely upon the representations, warranties and covenants of the undersigned as set forth herein and in any of the related documents including but not limited to the Original Note and the Replacement Note.

12. Notices. Notices to Assignee under the Note shall be to the address set forth below.

13. Headings. The headings and captions contained in this Agreement are for convenience of reference only and will not in any way affect the meaning or interpretation of this Agreement.

14. Survival. Each party is entitled to rely on the representations and warranties of the other party and all such representations and warranties will be effective regardless of any investigation that the party has undertaken of failed to undertake. The representations and warranties will survive the effective date of this Agreement and continue in full force and effect until six (6) months after the effective date of this Agreement.

15. No Assignment. No Party may assign any right, benefit or interest in this Agreement without the written consent of the other party, which consent may not be unreasonably withheld. This Agreement will inure to the benefit of, and be binding upon, the Assignors and the Assignee and their respective successors and assigns.

  

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16. Amendment. This Agreement may not be amended except by an instrument in writing signed by each of the parties.

17. Counterparts and Electronic Means. This Agreement may be executed in several counterparts, each of which will be deemed to be an original and all of which will together constitute one and the same instrument. Delivery of an executed copy of this Agreement by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Agreement as of the day and year first written above. The agreement will be signed by all parties and signatures exchanged prior to the Closing Date.

IN WITNESS WHEREOF the parties hereto have executed this Assignment Agreement as of the day and year first above written.

Assignor:

By: /s/ Yuejian James Wang

Name: China Direct Holdings Inc.

Assignee:

JSJ INVESTMENTS, INC.

By: /s/ Sameer Hirji

Name: Sameer Hirji

Title: President

Debtor: BIG TREE GROUP INC.

By: /s/ Wei Lin

Wei Lin, CEO

  

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EXHIBIT ‘A’

ORIGINAL NOTE DATED May 12, 2012

EXHIBIT ‘B’

REPLACEMENT NOTE DATED JANUARY 30, 2014

EXHIBIT ‘C’

DISBURSEMENT FORMexh10-39.htm

Exhibit 10.39

 

NOTE PURCHASE AGREEMENT

This Note Purchase Agreement (the "Agreement”) is made as of December 17, 2013 by and between Big Tree Group, Inc. a Colorado corporation with principal offices at South Part 1-101, Nanshe Area, Pengnan Industrial Park, North Yingbinbei Road, Waisha Town, Guangdong PRC 515023 (the "Company") and Iconic Holdings, LLC, a Delaware LLC with principal offices at 7200 Wisconsin Ave. Suite 206, Bethesda, MD 20814 (the "Purchaser"). As used herein, the term “Parties” shall be used to refer to the Company and Purchaser jointly.

WHEREAS:

A. The Parties jointly warrant and represent that they have a pre-existing relationship prior to the date of this Agreement.

B. Purchaser warrants and represents that it is sophisticated and experienced in acquiring the debt instruments issued by small early-stage companies that have not achieve profitability, positive cash flow or both.

C. Purchaser warrants and represents that it is an “accredited investor,” as that term is defined in Rule 501 of the Securities Act of 1933, as amended (the “1933 Act”).

D. Purchaser warrants and represents that prior to entering into this Agreement that it has received and completed its review of the Company’s corporate and financial statements as included in the filings and disclosures as listed for the Company with the Securities and Exchange Commission which has allowed Purchaser to make an informed investment decision with respect to purchase of that certain Convertible Promissory Note in the stated original principal amount of Fifty Two Thousand Five Hundred Dollars ($52,500.00) (the “Note”) attached in Exhibit A and dated December 17, 2013.

E. The Purchaser acknowledges and agrees that it is acquiring the Note for investment purposes only and not with a view to a distribution.

F. The Purchaser acknowledges and agrees that: (i) the Note is a “restricted security,” as that term is defined in the 1933 Act and (ii) no registration rights have been granted to Purchaser to register the Note.

NOW THEREFORE THE PARTIES AGREE AS FOLLOWS:

Section 1. SALE AND ISSUANCE OF THE NOTE. In consideration of the Company’s receipt of the initial sum of Fifty Two Thousand Five Hundred Dollars ($52,500.00) at Closing (as defined in Section 2.1), the Company shall sell to the Purchaser, and the Purchaser shall purchase from the Company (the “Issuance”) the Note upon the terms set forth in this Agreement. In addition, a copy of that certain Action of the Board of Directors, dated December 17, 2013 (the “Action of the Board of Directors”) is attached in Exhibit A, attached hereto.

 

Section 2. THE CLOSING.

2.1. PLACE OF CLOSING AND PROCEDURE AT CLOSING. The closing of the issuance of the Note to the Purchaser (the "Closing") shall take place simultaneously with and upon the satisfaction of the following conditions:

(1) the Company’s execution and delivery to the Purchaser of the following: (a) an executed copy of this Agreement; (b) an executed copy of the Note; (c) a signed copy of the Irrevocable Instructions to the Transfer Agent; and (d) the signed Action of the Board of Directors.

(2) the Purchaser’s execution of a wire transfer to the Company no later than one (1) business day following the Closing as follows: the sum of forty five thousand dollars ($45,000.00) in cash shall be remitted and delivered to the Company, five thousand dollars ($5,000.00) shall be paid to Equity Capital Investments, Inc. as a consulting fee on behalf of the Company and two thousand five hundred dollars ($2,500.00) shall be retained by the Purchaser through an original issue discount for due diligence and legal bills related to this transaction.

(3) the Purchaser reserves the right to pay additional consideration at any time and in any amount it desires, at its sole discretion.

  

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Section 3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

The Company hereby represents and warrants to the Purchaser as follows:

3.1. ORGANIZATION. The Company is duly organized, validly existing and in good standing under the laws of the State of Colorado and is qualified to conduct its business as a foreign corporation in each jurisdiction where the failure to be so qualified would have a material adverse effect on the Company.

3.2. AUTHORIZATION OF AGREEMENT, ETC. The execution, delivery and performance by the Company of this Agreement, the Note, and each other document or instrument contemplated hereby or thereby (collectively, the "Financing Documents") have been duly authorized by all requisite corporate action by the Company and delivered by the Company. Each of the Financing Documents, when executed and delivered by the Company, constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws affecting creditors' rights and remedies generally, and subject as to enforceability to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

Section 4. REPRESENTATIONS AND WARRANTIES OF THE PURCHASER.

The Purchaser hereby represents and warrants to the Company as follows:

4.1. AUTHORIZATION OF THE DOCUMENTS. Purchaser has all requisite power and authority (corporate or otherwise) to execute, deliver and perform the Financing Documents to which it is a party and the transactions contemplated thereby, and the execution, delivery and performance by such Purchaser of the Financing Documents to which it is a party have been duly authorized by all requisite action by such Purchaser and each such Financing Document, when executed and delivered by the Purchaser, constitutes a valid and binding obligation of such Purchaser, enforceable against such Purchaser in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws affecting creditors' rights and remedies generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

4.2. INVESTMENT REPRESENTATIONS. The Purchaser warrants and represents that:

(a) the Purchaser is an accredited investor (as that term is defined in Rule 501(a)(1) of Regulation D of the 1933 Act;

(b) the Purchaser is sophisticated and experienced in acquiring the securities of small public companies;

(c) the Purchaser has reviewed the Company’s Annual and Quarterly Reports together with the audited financial statements contained therein;

(d) the Purchaser has had sufficient opportunity to review and evaluate the risks and uncertainties associated with the purchase of the Company’s securities;

(e) the Purchaser is acquiring the Note from the Company for investment purposes only and not with a view to a distribution.

4.3 RESTRICTED SECURITY. Purchaser understands and acknowledges that the Note has not been, and when issued will not be, registered with the Securities and Exchange Commission. Purchaser warrants and represents that it has fully reviewed the restricted securities legend and the terms thereof with its financial, legal, investment, and business advisors and that it has not relied upon the Company or any other person for any advice in connection with the purchase of the Note, this Agreement, or both of them.

4.4 LEGAL COUNSEL. Purchaser has consulted with its own independent legal, tax, investment, and other advisors of its own choosing prior to entering into this Agreement.

4.5 ABSENCE OF REGISTRATION RIGHTS. Purchaser understands and agrees that it is not acquiring and has not been granted any registration rights with respect to the Note. The Note is a restricted security and the Purchaser understands that there is no trading market for the Note and no such market will likely ever develop.

  

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Section 5. BROKERS AND FINDERS.

The Company shall not be obligated, unless previously detailed in Section 2.1(2), to pay any commission, brokerage fee or finder's fee based on any alleged agreement or understanding between the Purchaser and a third person in respect of the transactions contemplated hereby. The Purchaser hereby agrees to indemnify the Company against any claim by any third person for any commission, brokerage or finder's fee or other payment with respect to this Agreement or the transactions contemplated hereby based on any alleged agreement or understanding between the Purchaser and such third person, whether express or implied from the actions of the Purchaser.

Section 6. SUCCESSORS AND ASSIGNS.

This Agreement shall bind and inure to the benefit of the Company, the Purchaser and their respective successors and assigns.

Section 7. ENTIRE AGREEMENT.

This Agreement and the other writings and agreements referred to in this Agreement or delivered pursuant to this Agreement contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings among the parties with respect thereto.

Section 8. NOTICES.

All notices, demands and requests of any kind to be delivered to any party in connection with this Agreement shall be personally served, sent via facsimile or e-mail, or sent in writing via an internationally recognized overnight courier or by registered or certified mail, return receipt requested and postage prepaid to the address of each party listed on the first page of this Agreement or to such other address as the party to whom notice is to be given may have furnished to the other parties to this Agreement in writing in accordance with the provisions of this Section 8. Any such notice or communication shall be deemed to have been received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case of facsimile or e-mail, immediately (iii) in the case of an internationally-recognized overnight courier, on the next business day after the date when sent and (iv) in the case of mailing, on the third business day following that on which the piece of mail containing such communication is posted.

Section 9. AMENDMENTS.

This Agreement may not be modified or amended, or any of the provisions of this Agreement waived, except by written agreement of the Company and the Purchaser.

Section 10. ATTORNEYS’ FEES.

In the event of a dispute between the parties concerning the enforcement or interpretation of this Agreement, the prevailing party in such dispute, whether by legal proceedings or otherwise, shall be reimbursed immediately for the reasonably incurred attorneys' fees and other costs and expenses by the other parties to the dispute.

Section 11. GOVERNING LAW AND ARBITRATION.

(A) All questions concerning the construction, interpretation and validity of this Agreement shall be governed by and construed and enforced in accordance with the domestic laws of the State of California without giving effect to any choice or conflict of law provision or rule (whether in the State of California or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of California. In furtherance of the foregoing, the internal law of the State of California will control the interpretation and construction of this Agreement, even if under such jurisdiction's choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily or necessarily apply.

Section 12. CAPTIONS AND EXHIBIT A.

The captions by which the sections and subsections of this Agreement are identified are for convenience only, and shall have no effect whatsoever upon its interpretation. Exhibit A is attached hereto and each of the attachments listed in Exhibit A are each with Exhibit A incorporated by reference herein.

  

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Section 13. SEVERANCE.

If any provision of this Agreement is held to be illegal or invalid by a court of competent jurisdiction, such provision shall be deemed to be severed and deleted; and neither such provision, nor its severance and deletion, shall affect the validity of the remaining provisions.

Section 14. COUNTERPARTS.

This Agreement may be executed in any number of counterparts, and each such counterpart of this Agreement shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. Facsimile counterpart signatures to this Agreement shall be acceptable and binding.

[The remainder of this page has been left intentionally blank.]

  

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IN WITNESS WHEREOF, each of the undersigned has duly executed this Note

Purchase Agreement as of the date first written above.

FOR THE COMPANY:

Big Tree Group, Inc.

By: _______________________________________

Name: ____________________________________

Its: ______________________________________

FOR THE PURCHASER:

Iconic Holdings, LLC

By: ________________________________

Name:

Title: Managing Member

[SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT]

[The remainder of this page has been left intentionally blank.]

  

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EXHIBIT A

(Copy of Convertible Promissory Note, Board Resolution, and Irrevocable Instructions to Stock Transfer Agent, are each attached hereto.)

1. Copy of Convertible Promissory Note

2. Copy of the Board Resolution of the Borrower

3. Copy of Irrevocable Instructions to Stock Transfer Agent

[The remainder of this page has been left intentionally blank.]

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