Document:

STOCK PURCHASE AGREEMENT

 

EXHIBIT 10.4

STOCK PURCHASE AGREEMENT

THIS STOCK PURCASE AGREEMENT (“Agreement”) is made and entered into as of August 1, 2017 (“Effective Date”), by and between GelTech Solutions, Inc., ("Company") and Warren Mosler ("Purchaser").

RECITALS 

WHEREAS, the Company has agreed to sell to the Purchaser common stock of the Company (“Purchased Shares”) pursuant to the terms and conditions of this Agreement; and

WHEREAS, the Purchaser has committed to purchase up to One Million Eight Hundred Thousand and 00/100 Dollars ($1,800,000.00) (“Purchaser’s Total Commitment”) in Company Shares in accordance with this Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, and in order to consummate the purchase and the sale of the Company Shares aforementioned, it is hereby agreed as follows:

1.

RECITALS. The Recitals set forth at the beginning of this Agreement are deemed incorporated herein, and the parties hereto represent they are true, accurate and correct. 

2.

PURCHASE AND SALE.  Subject to the terms and conditions of this Agreement, the Company hereby agrees to sell to Purchaser and Purchaser agrees to purchase from the Company such number of Purchased Shares at the purchase price as further provided as follows:

a.

The Company may deliver notice to purchase to the Purchaser each month during the Term of this Agreement requiring the purchase of a number of Purchased Shares. (“Notice to Purchase”) at the fair market value of the Purchased Shares as determined herein.  The fair market value of the Purchased Shares shall be the closing price of the Company’s common stock reported for the business day immediately before Company delivers its Notice to Purchase to the Purchaser.

b.

The Notice To Purchase delivered to the Purchaser under this Agreement shall be limited to two times per month, and in no event shall the aggregate amount in value of the Purchased Shares exceed One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00) for any month, except upon the mutual agreement of the Company and the Purchaser. 

c.

In no event shall the Purchaser be obligated to purchase the Purchased Shares under the Notice to Purchase in the event that the fair market value of the common stock to be purchased under the Notice to Purchase exceeds $0.50 a share. 

3.

Total Commitment By Purchaser.  The Purchaser agrees to purchase the Purchased Shares set forth in each Notice To Purchase delivered to the Purchaser, provided, however, that the total aggregate purchase price paid by Purchaser as it relates to all Purchased Shares covered under each of the Notice to Purchase does not exceed the Purchaser’s Total Commitment. In no event shall the Purchaser be obligated to purchase any Purchased Shares from the Company once the Purchaser has paid to the Company, in the aggregate, a total purchase price for all of the Purchased Shares equal to the Purchaser’s Total Commitment. 

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4.

Investment Intent; Covenant. In purchasing the Purchased Shares, Purchaser represents to the Company as follows:

a.

Purchaser has had an opportunity to discuss the business prospects and business plan of the Company with the officers and directors of the Company. Purchaser has a preexisting personal or business relationship with the Company or one of its officers, directors or controlling persons and/or by reason of his business or financial experience he has the capacity to protect his own interests in connection with the transactions contemplated by this Agreement. Purchaser further acknowledges that the stock purchased under this Agreement is highly speculative and involves a high degree of risk, and represents and warrants that he is able, without impairing his financial condition, to hold the Purchased Shares for an indefinite period of time and suffer a complete loss of his investment therein.

b.

Purchaser is acquiring the Purchased Shares for investment and not with a view to or for sale in connection with any distribution of said Shares or with any present intention of distributing or selling said Purchased Shares and he does not presently have reason to anticipate any change in circumstances or any particular occasion or event which would cause him to sell said Purchased Stock. Purchaser understands that the Purchased Shares has not been registered under the Securities Act of 1933, as amended, (the "Act") and may not be sold or otherwise disposed of except pursuant to an effective Registration Statement filed under the Act or pursuant to an exemption from the registration requirements of such Act.

c.

Purchaser acknowledges that the Company is under no obligation to register the Purchased Shares under the Act on his behalf. Purchaser represents and warrants that he understands that the Purchased Shares constitutes restricted securities within the meaning of Rule 144 promulgated under the Act.

d.

Without limiting the representations and warranties set forth above, Purchaser agrees he will not make any transfer of all or any part of the Purchased Shares unless (i) there is a Registration Statement under the Act in effect with respect to such transfer and such transfer is made in accordance therewith, or (ii) Purchaser has furnished the Company an opinion of counsel satisfactory to the Company and its counsel to the effect that such transfer will not require registration under the Act. 

5.

Restrictive Legends. The stock certificates for the Purchased Shares shall be endorsed with the following restrictive legend sand any legend required to be placed thereon by the applicable blue sky laws of any state:

"THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT  SUCH REGISTRATION IS NOT REQUIRED."

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6.

Term. The term of this Agreement shall be for twelve (12) months from the Effective Date of this Agreement.  Notwithstanding anything set forth in this Agreement, this Agreement will terminate immediately upon Michael Reger’s resignation as an officer from the Company. In the event that Michael Reger is no longer an officer of the Company, the Purchaser shall be free from any further obligations under this Agreement. 

7.

General Provisions. 

a.

Entire Agreement. This Agreement constitutes the entire Agreement and supersedes all prior agreements and understandings, oral and written, between the parties hereto with respect to the subject matter hereof.

b.

 Sections and Other Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

c.

Governing Law. This Agreement, and all transactions contemplated hereby, shall be governed by, construed and enforced in accordance with the laws of the State of Florida.  The parties herein waive trial by jury and agree to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in Palm County, State of Florida. 

d.

 In the event that litigation results from or arises out of this Agreement or the performance thereof, the parties agree to reimburse the prevailing party's reasonable attorney's fees, court costs, and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party may be entitled. 

e.

This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument, and shall become effective when counterparts have been signed by each of the parties and delivered to the other arties; it being understood that all parties need not sign the same counterparts.

IN WITNESS WHEREOF, this Agreement has been executed by each of the individual parties hereto on the date first above written.

					
	 
	PURCHASER

	 
	GELTECH SOLUTIONS, INC.

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	/s/ Warren Mosler

	 
	By:

	/s/ Michael Hull

	 
	Warren Mosler 

	 
	 
	Michael Hull, Chief Financial Officer

 

3EX-10.1

 Exhibit 10.1 

THIRD AMENDMENT TO 

LOAN AND SERVICING AGREEMENT AND WAIVER 

THIS THIRD AMENDMENT TO LOAN AND
SERVICING AGREEMENT AND WAIVER, dated as of July 24, 2017 (the “Amendment”) is entered into among JARDEN RECEIVABLES, LLC (the
“Borrower”), NEWELL BRANDS INC., as Servicer (the “Servicer”), PNC BANK, NATIONAL ASSOCIATION (“PNC”), as
Administrative Agent (in such capacity, the “Administrative Agent”) and as a Managing Agent, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Issuing Lender (the
“Issuing Lender”) and each Managing Agent party hereto. Capitalized terms used herein shall have the meanings specified in the Agreement. 

W I T N E S S E T
H : 
 WHEREAS, the Borrower, the Servicer, the commercial paper conduits from time to time party thereto,
the financial institutions from time to time party thereto as Committed Lenders, the financial institutions from time to time party thereto as Managing Agents, the Issuing Lender, the Administrative Agent, and PNC Capital Markets, as Structuring
Agent, have entered into that certain Loan and Servicing Agreement, dated as of October 3, 2016 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”); 

WHEREAS, the Borrower has requested that the Lenders waive the Existing Event of Termination (as hereinafter defined), amend
certain provisions of the Loan Agreement, and the Lenders are willing to do so under the terms and conditions set forth in this Agreement; and 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as follows: 
 Section 1. Defined Terms. Unless otherwise
amended by the terms of this Amendment, terms used in this Amendment shall have the meanings assigned in the Loan Agreement. 

Section 2. Waiver to the Loan Agreement. Each of the Administrative Agent and each Managing Agent party hereto hereby waives any
Event of Termination (the “Existing Event of Termination”) that may have occurred under Section 7.01 of the Loan Agreement prior to the date hereof solely as a result of any failure by the Borrower to have at least three
managers as required by Section 5.01(i)(vi) of the Loan Agreement 
 Section 3. Amendment to the Loan Agreement. Subject to
the satisfaction of the conditions precedent set forth in Section 4 below, the Loan Agreement shall be and hereby is amended as follows: 

(a) Section 5.01(i)(vi) of the Loan Agreement is amended and restated to read as follows: 

 (vi) at all times have no fewer than two managers, at least one manager of which
is an Independent Manager; 
 (b) Any and all references to “Board of Managers” appearing in the Loan
Agreement are hereby deleted and replaced with “board of managers”. 
 Section 4. Conditions to Amendment. This
Amendment shall become effective and be deemed effective as of the date first written above (the “Amendment Effective Date”) upon the satisfaction of the following conditions precedent: 

(a) The Borrower, the Servicer, the Administrative Agent, the Issuing Lender and the Managing Agents party hereto shall have
executed and delivered this Amendment. 
 (b) The Administrative Agent shall have received a duly executed Reaffirmation,
Consent and Acknowledgment of the Performance Undertaking in the form attached hereto. 
 Section 5. Agreement in Full Force and
Effect/Effectiveness of Amendment. Except as expressly set forth herein, all terms and conditions of the Loan Agreement, as amended, shall remain in full force and effect. Upon the effectiveness of this Amendment, (i) the Borrower and the
Servicer each hereby reaffirms all covenants, representations and warranties made by it in the Loan Agreement to the extent the same are not amended hereby and agrees that all such covenants, representations and warranties shall be deemed to have
been remade as of the Amendment Effective Date (except for those representations and warranties that are expressly made only as of a different date, which representations and warranties shall be correct as of the date made) and (ii) each
reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be, and any references to such agreement in any other document, instrument or
agreement executed and/or delivered in connection therewith shall mean and be, a reference to such agreement as amended hereby. 

Section 6. Execution in Counterparts, Effectiveness. This Amendment may be executed by the parties hereto in several counterparts,
each of which shall be executed by the parties hereto and be deemed an original and all of which shall constitute together but one and the same agreement. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other
electronic means shall be effective as delivery of a manually executed counterpart of this Amendment. 
 Section 7. Governing
Law. This Amendment shall be construed in accordance with the laws of the State of New York, without reference to conflict of law principles, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance
with the laws of the State of New York. 
 [SIGNATURE PAGES TO FOLLOW] 

  
 -2- 

 IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be executed and delivered by their duly authorized officers as of the date hereof. 
  

			
	JARDEN RECEIVABLES, LLC
	
	By: SUNBEAM PRODUCTS, INC.
	Its: manager and sole member
		
	By	 	/s/ Bradford R. Turner
		 	 Name:  Bradford R. Turner

Title:    Corporate Secretary

  
  

			
	 NEWELL BRANDS INC.,

as Servicer

		
	By	 	/s/ Bradford R. Turner
		 	 Name:  Bradford R. Turner

Title:    Corporate Secretary

  
  
  

SIGNATURE PAGE TO THIRD AMENDMENT TO 

LOAN AND SERVICING AGREEMENT AND WAIVER 

  

			
	 PNC BANK, NATIONAL ASSOCIATION,

as Administrative Agent and as a Managing Agent

		
	By	 	/s/ Eric Bruno
		 	 Name:  Eric Bruno

Title:    Senior Vice President

  
  
  

SIGNATURE PAGE TO THIRD AMENDMENT TO 

LOAN AND SERVICING AGREEMENT AND WAIVER 

  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Issuing Lender and as a Managing Agent

		
	By	 	/s/ Isaac Washington
		 	 Name:  Isaac Washington

Title:    Vice President

  
  
  

SIGNATURE PAGE TO THIRD AMENDMENT TO 

LOAN AND SERVICING AGREEMENT AND WAIVER 

 

  

			
	 ROYAL BANK OF CANADA,

as a Managing Agent

		
	By	 	/s/ Stephen A. Kuklinski
		 	 Name:  Stephen A. Kuklinski

Title:    Authorized Signatory

  
  
  

 
  

SIGNATURE PAGE TO THIRD AMENDMENT TO 

LOAN AND SERVICING AGREEMENT AND WAIVER 

 
  

  

			
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

NEW YORK BRANCH,

as a Managing Agent

		
	By	 	/s/ Richard Gregory Hurst
		 	 Name:  Richard Gregory Hurst

Title:    Managing Director

  
  
  

 
  

SIGNATURE PAGE TO THIRD AMENDMENT TO 

LOAN AND SERVICING AGREEMENT AND WAIVER 

  

			
	 SUNTRUST BANK,

as a Managing Agent

		
	By	 	/s/ Leo Loughead
		 	 Name:  Leo Loughead

Title:    Managing Director

  
  
  

 
  

SIGNATURE PAGE TO THIRD AMENDMENT TO 

LOAN AND SERVICING AGREEMENT AND WAIVER 

 REAFFIRMATION, ACKNOWLEDGEMENT, AND
CONSENT OF PERFORMANCE GUARANTOR 
 The undersigned, Newell Brands Inc.,
heretofore executed and delivered to the Administrative Agent a Performance Undertaking dated October 3, 2016. The undersigned hereby acknowledges and consents to the Third Amendment to Loan and Servicing Agreement and Waiver dated as of the
date hereof, and confirms that its Performance Undertaking, and all obligations of the undersigned thereunder, remains in full force and effect. The undersigned acknowledges that the Administrative Agent, the Issuing Lender and the Managing Agents
are relying on the assurances provided herein in entering into the Amendment set forth above. 
 Dated as of July 24, 2017. 

 

			
	NEWELL BRANDS INC.
		
	By	 	/s/ Bradford R. Turner
		 	 Name:  Bradford R. Turner

Title:    Corporate Secretary

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