Document:

Exhibit 10.4

 

FIRST AMENDMENT TO STANDARD INDUSTRIAL/COMMERCIAL
MULTI-TENANT LEASE-NET

 

THIS FIRST AMENDMENT TO
STANDARD INDUSTRIAL/COMMERCIAL MULTI-TENANT LEASE-NET (this “Amendment”) is made and entered into as of the
1st day of October, 2014 (“Effective Date”) by and between CAM 6690 Grant Way, LLC, a Delaware limited liability
company (“Lessor”), and Fuling Plastic USA Inc., a Pennsylvania corporation (formerly known as Fuling Plastics
USA Inc., a Pennsylvania corporation) (“Lessee”), with reference to the following facts:

 

A.          Lessor
and Lessee are parties to that certain Standard Industrial/Commercial Multi-Tenant Lease-Net dated February 27, 2014 (the “Lease”)
with reference to the lease of that certain premises consisting of approximately 70,200 square feet located at the real property
commonly known as 6690 Grant Way, Suite 1, Allentown, Pennsylvania, and more particularly described on Exhibit A to the Lease (the
“Original Premises”).

 

B.          Lessor
and Lessee now desire to modify and amend the Lease, all on the terms and conditions set forth in this Amendment.

 

C.          Defined
terms in this Amendment shall have the meaning ascribed to such terms in the Lease unless otherwise expressly defined in this Amendment.
Where the terms of this Amendment and the terms of the Lease conflict, the terms of this Amendment shall in all instances prevail.

 

NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, Lessor and Lessee
hereby agree as follows:

 

		1.	Expansion of Premises. Pursuant to Paragraph 64 of the Lease, Lessee has exercised
its one-time right to lease the Adjacent Space. Accordingly, commencing on the Effective Date, the Premises shall be expanded to
include the approximately 17,800 remaining square feet of space in the Building (the “Expansion Premises”).
Accordingly, as of the Effective Date, the Premises shall consist of approximately 88,000 square feet comprising the entire Building.
From and after the Effective Date, the term “Premises” as used in the Lease and in this Amendment shall refer to both
the Original Premises and the Expansion Premises, and except as otherwise expressly set forth in this Amendment, all terms and
conditions set forth in the Lease relating to the Premises shall apply to both the Original Premises and the Expansion Premises.

 

		2.	Condition of Expansion Premises. The Expansion Premises shall be delivered to Lessee
in its “AS IS, WHERE IS” condition, and Lessee acknowledges and agrees that Lessor shall have no obligation to perform
or pay for any work whatsoever in or to the Expansion Premises in connection with the delivery of the Expansion Premises to Lessee.
Prior to entering into this Amendment, Lessee has made a thorough and independent examination of the Expansion Premises and all
matters related to Lessee's decision to enter into this Amendment, and Lessee is thoroughly familiar with all aspects of the Expansion
Premises and is satisfied that they are in an acceptable condition and meet Lessee's needs. Lessee does not rely on, and Lessor
does not make, any express or implied representations or warranties as to any matters relating to the Expansion Premises including,
without limitation, the condition of the Expansion Premises, the habitability of the Expansion Premises, or the suitability of
the Expansion Premises generally or for any particular purpose. To the extent Lessee desires to perform any work in or to the Expansion
Premises, all such work will be at the sole cost and expense of Lessee, subject only to the Improvement Allowance as set forth
below and in the Work Letter attached as Exhibit C to the Lease, and Lessee shall comply with all terms and conditions in the Lease
pertaining to such work.

 

		3.	Term of Expansion Premises. The term of the Lease with respect to the Expansion Premises
shall be co-terminus with the term of the Lease for the Original Premises, as set forth in the Lease.

 

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		4.	Base Rent for Expansion Premises. Lessee acknowledges and agrees that it has received
the benefit of all abated rent (i.e. for the month of September, 2014 and any prior period) and no further rent abatement is due
or owing to Lessee. Commencing on the Effective Date, Paragraph 61 of the Lease is deleted in its entirety and replaced with the
following:

 

“61.Base Rent Adjustments.
Lessee shall pay to Lessor Base Rent for the Premises (which shall include the Original Premises and the Expansion Premises) in
advance on or before the first day of each calendar month as follows:

 

(a)          During
the period from October 1, 2014 through April 30, 2015, Lessee shall pay to Lessor Base Rent in equal monthly installments in the
amount of Thirty-One Thousand Five Hundred Thirty-Seven and 50/100 Dollars ($31,537.50);

 

(b)          During
the period from May 1, 2015 through April 30, 2016, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Two Thousand Three Hundred Twenty-Two and 23/100 Dollars ($32,322.23).

 

(c)           During
the period from May 1, 2016 through April 30, 2017, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Three Thousand One Hundred Thirty-Seven and 33/100 Dollars ($33,137.33).

 

(d)           During
the period from May 1, 2017 through April 30, 2018, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Three Thousand Nine Hundred Sixty-Eight and 36/100 Dollars ($33,968.36).

 

(e)           During
the period from May 1, 2018 through April 30, 2019, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Four Thousand Eight Hundred Fifteen and 72/100 Dollars ($34,815.72).

 

(f)           During
the period from May 1, 2019 through April 30, 2020, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Five Thousand Six Hundred Seventy-Nine and 80/100 Dollars ($35,679.80).

 

(g)           During
the period from May 1, 2020 through April 30, 2021, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Six Thousand Five Hundred Seventy-Five and 87/100 Dollars ($36,575.87).

 

(h)           During
the period from May 1, 2021 through April 30, 2022, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Seven Thousand Four Hundred Eighty-Nine and 53/100 Dollars ($37,489.53).

 

(i)           During
the period from May 1, 2022 through April 30, 2023, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Eight Thousand Four Hundred Twenty-One and 21/100 Dollars ($38,421.21).

 

(j)           During
the period from May 1, 2023 through May 31, 2024, Lessee shall pay to Lessor Base Rent in equal monthly installments in the amount
of Thirty-Nine Thousand Three Hundred Eighty-Six and 18/100 Dollars ($39,386.18).”

 

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		5.	Lessee’s Share. As of the Effective Date, the Expansion Space shall be included
in the square footage of the Premises for purposes of determining all amounts payable by Lessee under the Lease based upon the
square footage of the Premises, including, without limitation, the “Lessee’s Share” as defined in Section 1.6
of the Lease. Commencing on the Effective Date, “Lessee’s Share” shall mean one hundred percent (100%) of the
Building and one hundred percent (100%) of the Project.

 

		6.	Improvement Allowance. Notwithstanding anything to the contrary contained in the
Lease, as of the Effective Date, the Improvement Allowance (as defined in the Work Letter attached to the Lease as Exhibit C) shall
mean the amount of Four Hundred Sixty-Five Thousand Thirty-Three and no/100 Dollars ($465,033.00). All other terms and conditions
of the Work Letter shall remain unchanged.

 

		7.	Security Deposit. As of the Effective Date, the Security Deposit shall be increased
to $42,904.17. Concurrently with Lessee’s execution and delivery of this Amendment, Lessee shall to deliver to Lessor payment
of $8,974.17, representing the difference between the existing Security Deposit of $33,930.00 and the increased Security Deposit
amount.

 

		8.	Representations. As a material inducement and consideration to Lessor to execute
and deliver this Amendment, Lessee represents and warrants to Lessor the truth of the following statements: (i) a true, complete
and correct copy of the Lease is attached hereto as Exhibit “A”; (ii) the Lease as modified by this Amendment
constitutes the entire agreement between Lessor and Lessee with respect to the Premises, is presently in full force and effect,
and has not been further modified, changed, altered, assigned, supplemented or amended in any respect; (iii) as of the date of
this Amendment, Lessee has not assigned, encumbered or hypothecated its interest in the Lease; (iv) the Lease is the only lease
or agreement, written or oral, between Lessor and Lessee affecting or relating to the Premises; (v) no one except Lessee and its
employees occupies the Premises; (vi) Lessee has no offsets, claims, or defenses to the enforcement of the Lease; (vii) no actions,
whether voluntary or otherwise, are pending against Lessee under the bankruptcy laws of the United States or any state thereof;
(viii) as of the date hereof, and to the best of Lessee’s knowledge, after due inquiry, Lessor and Lessee are not in default
under the Lease and have not committed any breach of the Lease; no event has occurred which, but for the passing of time or for
the giving or receipt of notice, or both, would constitute a default under the Lease; and no notice of default has been given under
the Lease; (ix) to the best of Lessee’s knowledge, the use maintenance and operation of the Premises comply with all applicable
federal, state, county or local statutes, laws, rules and regulations of any governmental authorities relating to environmental,
health or safety matters (collectively, “Environmental Laws”); the Premises have not been used and Lessee does not
plan to use the Premises for any activities which, directly or indirectly, involve the use, generation, treatment, storage, transportation
or disposal of any petroleum product or any toxic or hazardous chemical, material, substance, pollutant or waste; Lessee has not
received any notices, written or oral, of violation of any Environmental Laws or of any allegation which, if true, would contradict
anything contained in this Amendment and there are no writs, injunctions, decrees, orders or judgments outstanding, and no lawsuits,
claims, proceedings or investigations pending or threatened against Lessee, relating to the use, maintenance or operation of the
Premises, nor is Lessee aware of a basis for any such proceeding; and (x) all obligations of Lessor under the Lease to construct
improvements on, and to make repairs to, the Premises have been performed by Lessor, and accepted by Lessee, and Lessee has no
claims against Lessor in connection therewith.

 

		9.	Brokers. Lessor and Lessee each represent and warrant to the other that they have
not dealt with any real estate broker or finder in connection with this Amendment, other than Jones Lang LaSalle, representing
Lessor, and CBRE, representing Lessee. Lessor and Lessee hereby indemnify and hold each other harmless from and against any and
all claims, damages or liabilities which the other party may incur in the event of a breach of the foregoing representation and
warranty.

 

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		10.	Effect on Lease. Except as hereby expressly amended, all other terms and conditions
of the Lease shall remain and continue in full force and effect. Submission of this Amendment by one party to another shall have
no legal significance and is not an offer that may be accepted; this Amendment shall become effective only upon mutual execution
and delivery hereof by all parties and contemplated signatory hereof.

 

		11.	Counterparts; Electronic Signatures. This Amendment may be executed in any number
of counterparts, each of which shall be deemed an original of this Amendment and all of which together shall constitute but one
and the same document. Signatures to this Amendment transmitted by facsimile or by electronic transmission shall be valid and effective
to bind the party so signing. At the written request of either party, the other party agrees to promptly deliver an execution original
to this Amendment with its actual signature to the other party, but a failure to do so shall not affect the enforceability of this
Amendment, it being expressly agreed that each party to this Amendment shall be bound by its own telecopied or scanned signature
and shall accept the telecopied or scanned signature of the other party to this Amendment.

 

[SIGNATURES ON FOLLOWING
PAGE]

 

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IN WITNESS WHEREOF, Lessor
and Lessee have executed and delivered this Amendment as of the day and year first above written.

 

	LESSOR:	LESSEE:
	 	 
	CAM 6690 Grant Way, LLC,	Fuling Plastic USA Inc.,
	a Delaware limited liability company	a Pennsylvania corporation
	 	 
	By: 	GAP CAM Master LLC	 
	 	a Delaware limited liability company	By: 	/s/ Guilan Jiang
	 	Its: 	Sole Member	Name Printed: 	Guilan Jiang
	 	Title: 	President

 

	By:	CAM Core+ Fund 1 LLC	 
	 	a Delaware limited liability company	 
	 	Its: Administrative Member	 

 

	 	By:	CAM Fund Capital 1 LLC	 	 
	 	 	a Delaware limited liability company	 	CORPORATE RESOLUTION REQUIRED
	 	 	Its: Manager	 	 

 

	 	By:	/s/ Bradley S. Cohen	 
	 	 	Bradley S. Cohen	 
	 	 	Its:  Managing Member	 

 

CONSENT OF GUARANTOR:

 

The undersigned Guarantor hereby consents to the foregoing Amendment:

 

Taizhou Fuling Plastics Co., LTD.

 

	By: 	/s/ Guilan Jiang	 

	Name Printed: 	Guilan Jiang	 

	Title: 	President	 

 

    	5Exhibit 10.7

 

 

INSTRUMENT OF TRANSFER

____________________________

 

TOTAL FAITH HOLDINGS LIMITED

全信控股有限公司*

________________________

I, HU Xinfu胡新福
(Transferor)

of Yingbin Road, Songmen Town, Whenling,
Zhejiang, China 317511 

in consideration of the sum of USD1.00

paid to me by (name in full) JIANG Guilan
江桂兰 

(occupation) Merchant 

of (full address) Southeast Industrial
Zone, Songmen Town, Whenling, Zhejiang, China 317511 

(hereinafter called “the said Transferee”),
do hereby transfer to the said Transferee the 

-1-  shares numbered                                                                                                         

standing in my name in the Register of TOTAL FATH HOLDINGS
LIMITED全信控股有限

公司* to hold unto the said Transferee, her
executors, administrators or assigns, subject to the conditions upon which I hold the same at the time of execution hereof. And
I, the said Transferee, do hereby agree to take the said shares subject to the same conditions.

 

As witness our hands the                     day
of                               

 

 

	Signed by the Transferee in the	)	 
	Presence of :	)	 
	 	 	)	 
	 	 	)	 
	Name	 	)	 
	Address	 	)	/s/ Xinfu Hu
	 	 	)	HU Xinfu
    胡新福
	 	 	 	Transferor

 

 

 

	Signed by the Transferor in the	)	 
	Presence of :	)	 
	 	 	)	 
	 	 	)	 
	Name	 	)	 
	Address	 	)	/s/ Guilan Jiang
	 	 	)	JIANG Guilan
    江桂兰
	 	 	 	
        Transferee

 

* For identification purpose only

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