Document:

ueec_ex103.htm

EXHIBIT 10.3
  
 EMPLOYMENT AGREEMENT
  
 EMPLOYMENT AGREEMENT (this “Agreement”) dated as of January 1, 2018, by and between UNITED HEALTH PRODUCTS, INC., a Nevada corporation (“Company”) and Louis Schiliro (“Employee”).
  
 W I T N E S S E T H:
  
 WHEREAS, Company desires to engage the services of Employee and Employee desires to provide the services to Company in connection with Company’s business; and
  
 WHEREAS, both parties desire to clarify and specify the rights and obligations which each have with respect to the other in connection with Employee’s services.
  
 NOW, THEREFORE, in consideration of the agreements and covenants herein set forth, the parties hereby agree as follows:
  
 1. Employment
  
 Employee hereby agrees to be employed by Company as Chief Operating Officer of the Company, and Employee hereby agrees to render his services in such capacities for the Term (as hereinafter defined), all subject to and on the terms and conditions herein set forth. 
  
 2. Duties and Responsibilities of Employee
  
 (a) Employee will be the Chief Operating Officer of Company, subject to the other provisions of this Section 2. Employee may work from his home office so long as Employee is able to perform the duties associated with Chief Operating Officer of the Company in accordance with the Company’s By-Laws. 
  
 (b) During the term of this Agreement, Employee will exercise such authority, perform such executive duties and functions and discharge such responsibilities as he deems appropriate as are customarily vested in an officer of a public company with said title. 
  
 3. Exclusivity of Service 
  
 The Company agrees that Employee shall be required to devote the necessary business time, effort and attention to the business and efforts of the Company and its subsidiaries as the Company deems necessary for the performance of his duties. Employee may pursue other outside business interests that are not related to the same business as the Company, as long as it does not interfere with the Employee’s responsibilities for the Company.
  
  	 
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 4. Compensation; Bonus
  
 (a) In consideration for Employee’s services to be performed under this Agreement and as compensation therefor, Company shall pay to Employee, commencing as of the date set forth above, a base salary at the rate of Twelve Thousand Five Hundred Dollars ($12,500) per month (the “Employee Base Salary”) which Employee Base Salary may be increased in the sole discretion of the Board. The Board shall determine whether to pay Employee’s Base Salary on a monthly basis, weekly basis or some other convenient mutually acceptable basis. 
  
 (b) Upon the execution of this Agreement, Employee shall receive 5,000,000 shares of the Company’s Common Stock with an appropriate restrictive legend placed on the certificate in exchange for services to be rendered. The certificate will be held by the Company in escrow and will be delivered to employee immediately prior to any acquisition or merger of the Company which results in a change in control or earlier based upon performance criteria set by the Board.
  
 (c) In addition to the Employee Base Salary, Employee shall receive an annual or other bonus at the sole discretion of the Board of Directors of the Company. 
  
 (d) Employee shall be entitled to reimbursement of all out-of-pocket expenses incurred on behalf of the Company. Employee reimbursement for amounts in excess of $500 shall be approved in writing by another executive officer of the Company.
  
 5. Indemnification
  
 Employee shall be entitled to the following during and in respect of the term of this Agreement:
  
 The Company shall provide to Employee to the full extent provided for under the laws of the Company’s state of incorporation and the Company’s Certificate of Incorporation and Bylaws, indemnification for any claim or lawsuit which may be asserted against Employee when acting in such capacity for the Company and/or any subsidiary or affiliated business. The Company shall use reasonable best efforts to include Employee as an insured under all applicable directors’ and officers’ liability insurance policies maintained by the Company, and any other subsidiary or affiliated business. 
  
 6. Additional Compensation
  
 In the event the Company seeks to terminate this Agreement in connection with a change in control, merger and/or strategic acquisition, the Board of Directors of the Company may determine in its sole discretion to provide termination pay in the form of cash, stock and/or other securities.
  
  	 
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 7. Term of Employment
  
 Employee’s employment with the Company shall be considered an employee “at will,” except for the notice provisions provided in the next sentence. Employee and the Company agree to provide 30 days prior written notice to the other party prior to the termination of Employee’s employment with the Company. 
  
 8. Non-Competition; Non-Solicitation 
  
 (a) Employee hereby agrees and covenants that during the Term hereof that he will not directly or indirectly engage in or become interested (whether as an owner, principal, agent, stockholder, member, partner, trustee, venturer, lender or other investor, director, officer, employee, consultant or through the agency of any corporation, limited liability company, partnership, association or agent or otherwise) in any business enterprise which is engaged in the current business of the Company during the Term; provided, however, that ownership of not more than 15% of the outstanding securities of any class of any entity that are listed on a national securities exchange or traded in the over-the-counter market shall not be considered a breach of this Section 8.
  
 (b) Employee agrees and covenants that during the Term hereof he and his agents will not (without first obtaining the written permission of Company) directly or indirectly participate in the solicitation of any business of any type conducted by Company during the period of this Agreement from any person or entity which was a client or customer of Company during the period of this Agreement, or was a prospective customer of Company from which Employee solicited business or for which a proposal for submission was prepared during the period.
  
 (c) Employee agrees and covenants that during the Term of this Agreement he will not (without first obtaining the written permission of Company) directly or indirectly recruit for employment, or induce or seek to cause such person to terminate his or her employment with Company, any person who then is an employee of Company or who was an employee of Company during the preceding six (6) months.
  
 9. Violation of Other Agreements and Authority
  
 Employee represents and warrants to Company that he is legally able to enter into this Agreement; that he is not prohibited by the terms of any agreement, understanding or policy from entering into this Agreement; that the terms hereof will not and do not violate or contravene the terms of any agreement, understanding or policy to which Employee is or may be a party, or by which Employee may be bound; that Employee is under no physical or mental disability that would materially interfere with the performance of his duties under this Agreement. Employee agrees that, as it is a material inducement to Company that Employee make the foregoing representations and warranties and that they be true in all material respects. 
  
  	 
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 10. Company Authority Relative to this Agreement
  
 The Company has the requisite corporate power and authority to execute and deliver this Agreement and to consummate the transactions contemplated by this Agreement. The Board of Directors of the Company has duly authorized the execution and delivery of this Agreement by the Company and the consummation by the Company of the transactions contemplated on its part by this Agreement, and no other corporate proceedings on the part of the Company are necessary to authorize this Agreement or for the Company to consummate the transactions contemplated by it. The Company has duly validly executed and delivered this Agreement and it is a valid and binding Agreement of the Company, enforceable against the Company in accordance with its terms, subject to bankruptcy or insolvency laws affecting creditors’ rights generally and to general principles of equity.
  
 11. Notices
  
 Any and all notices, demands or requests required or permitted to be given under this Agreement shall be given in writing and sent by email to the email address set forth at the foot of this Agreement. In the case of Employee sending an email to the Company, Employee shall provide a formal notice to each Board member with a copy to Morse & Morse, PLLC, as corporate/securities counsel. 
  
 12. Waivers
  
 No waiver by any party of any default with respect to any provision, condition or requirement hereof shall be deemed to be a waiver of any other provision, condition or requirement hereof; nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter.
  
 13. Preservation of Intent
  
 Should any provision of this Agreement be determined by a court having jurisdiction in the premises to be illegal or in conflict with any laws of any state or jurisdiction or otherwise unenforceable, Company and Employee agree that such provision shall be modified to the extent legally possible so that the intent of this Agreement may be legally carried out.
  
 14. Entire Agreement
  
 This Agreement sets forth the entire and only agreement or understanding between the parties relating to the subject matter hereof and supersedes and cancels all previous agreements, negotiations, letters of intent, correspondence, commitments and representations in respect thereof among them, and no party shall be bound by any conditions, definitions, warranties or representations with respect to the subject matter of this Agreement except as provided in this Agreement.
  
  	 
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 15. Inurement; Assignment
  
 The rights and obligations of Company under this Agreement shall inure to the benefit of and shall be binding upon any successor of Company or to the business of Company, subject to the provisions hereof. Neither this Agreement nor any rights or obligations of Employee hereunder shall be transferable or assignable by Employee.
  
 16. Amendment
  
 This Agreement may not be amended in any respect except by an instrument in writing signed by the parties hereto.
  
 17. Headings
  
 The headings in this Agreement are solely for convenience of reference and shall be given no effect in the construction or interpretation of this Agreement.
  
 18. Counterparts
  
 This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same instrument.
  
 19. Governing Law
  
 This Agreement shall be governed by, construed and enforced in accordance with the internal laws of the State of Nevada, without giving reference to principles of conflict of laws. Any lawsuit commenced under the terms of this Agreement shall be commenced in a federal and/or state court located in Las Vegas, Nevada.
  
  	 
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written. 
  
  
  	 	 UNITED HEALTH PRODUCTS, INC.
	
	 	 	 	 
		By:	/s/ Douglas Beplate 	
	  
	  
	 Douglas Beplate, President
	 
	 	 	 Email address:
	 
	  
	  
	 d.beplate@unitedhealthproductsinc.com 
	  

	  
	  
	 douglas@bpl8.com
	  

	  
	  
	  
	  

	  
	  
	 /s/ Louis Schiliro 
	  

	  
	  
	 Louis Schiliro
	  

	  
	  
	 Email address:
	  

	  
	  
	 l.schiliro@unitedhealthproductsinc.com
	  

	 	 	Louis.schiliro@comcast.net 	 

  
  
  	 6Exhibit 4.1

 

Execution Version

 

SECOND SUPPLEMENTAL INDENTURE

 

Dated as of August 20, 2018

 

Among

 

COGENT COMMUNICATIONS GROUP, INC., as the Issuer,

 

the Guarantors party hereto

 

and

 

WILMINGTON TRUST, NATIONAL ASSOCIATION,

 

as Trustee and Collateral Agent

 

5.375% SENIOR SECURED NOTES DUE 2022

 

 

SECOND SUPPLEMENTAL INDENTURE, dated as of August 20, 2018 (this “Supplemental Indenture”), among COGENT COMMUNICATIONS GROUP, INC. (the “Issuer”), as issuer, the Guarantors party hereto (the “Guarantors”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee and Collateral Agent under the Indenture referred to below.

 

W I T N E S S E T H:

 

WHEREAS, the Issuer, the Guarantors, the Trustee and the Collateral Agent are party to an Indenture, dated as of February 20, 2015 (the “Base Indenture” and, together with any supplements thereto, the “Indenture”), relating to the issuance from time to time by the Issuer of senior secured notes in series;

 

WHEREAS, pursuant to the Base Indenture, the Issuer initially issued $250.0 million of its 5.375% Senior Secured Notes due 2022 (the “Initial Notes”);

 

WHEREAS, pursuant to the First Supplemental Indenture , dated December 2, 2016, among the Issuer, the Guarantors, the Trustee and the Collateral Agent, the Issuer issued $125.0 million of its 5.375% Senior Secured Notes due 2022;

 

WHEREAS, Section 9.01(11) of the Base Indenture provides that the Issuer may provide for the issuance of Additional Notes as permitted by Section 2.01 therein;

 

WHEREAS, the Issuer wishes to issue an additional $70.0 million of its 5.375% Senior Secured Notes due 2022 as Additional Notes (as defined in the Base Indenture) under the Base Indenture (the “Additional Securities”);

 

WHEREAS, in connection with the issuance of the Additional Securities, the Issuer and the Guarantors have each duly authorized the execution and delivery of this Supplemental Indenture; and

 

WHEREAS, pursuant to Sections 2.01, 2.02, 4.03, 4.06, 9.01 and 9.06 of, and the definition of “Additional Notes” in, the Base Indenture, the parties hereto are authorized to execute and deliver this Supplemental Indenture to amend the Indenture, without the consent of any Holder;

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Guarantors, the Trustee and the Collateral Agent mutually covenant and agree for the benefit of the Holders of the Notes as follows:

 

1.                                      Defined Terms.  As used in this Supplemental Indenture, terms defined in the Base Indenture or in the preamble or recital hereto are used herein as so defined.  The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof.

 

 

2.                                      Additional Notes.  As of the date hereof, the Issuer will issue the Additional Securities.  The Additional Securities issued pursuant to this Supplemental Indenture constitute Additional Notes issued pursuant to Sections 2.01 and 2.02 of the Base Indenture and shall be consolidated with and form a single class with the Initial Notes previously established pursuant to the Base Indenture.  The Additional Securities shall have the same terms and conditions in all respects as the Initial Notes, except that the issue date of the Additional Securities shall be August 20, 2018, the first interest payment date with respect to the Additional Securities shall be September 1, 2018 and the Additional Securities shall accrue interest from March 1, 2018.  Subject to the foregoing, the Additional Securities shall be substantially in the form of Exhibit A to the Base Indenture.

 

3.                                      Special Record Date.  Notwithstanding anything to the contrary in the Indenture, the record date for the payment of accrued and unpaid interest in respect of the Additional Securities on September 1, 2018 shall be August 20, 2018.

 

4.                                      Aggregate Principal Amount.  The aggregate principal amount of the Additional Securities that may be authenticated and delivered pursuant to this Supplemental Indenture shall be $70.0 million.

 

5.                                      Governing Law; Waiver of Jury Trial.  THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE ADDITIONAL SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

6.                                      Ratification and Reaffirmation of Indenture; Supplemental Indenture Part of Indenture.  Except as expressly amended hereby, the Indenture (including the Guarantees contained therein) is in all respects ratified and reaffirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.  This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.  Neither the Trustee nor the Collateral Agent makes any representation or warranty as to the validity or sufficiency of this Supplemental Indenture or as to the accuracy of the recitals to this Supplemental Indenture.

 

7.                                      No Personal Liability of Directors, Officer, Employees and Stockholders.  No director, officer, employee, incorporator, stockholder, member, manager or partner of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Base Indenture, the Note Guarantees, the Security Documents, any Intercreditor Agreement or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

 

2

 

8.                                      Counterparts.  The parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Supplemental Indenture by facsimile, email or other electronic means shall be effective as delivery of a manually executed counterpart of this Supplemental Indenture.

 

9.                                      Headings.  The section headings herein are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

 

[Signature Pages Follow]

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written.

 

	
 
    	
COGENT COMMUNICATIONS   GROUP, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ David Schaeffer
    
	
 
    	
 
    	
Name:
    	
David Schaeffer
    
	
 
    	
 
    	
Title:
    	
President and Chief Executive   Officer
    
	
 
    	
 
    	
 
    
	
 
    	
COGENT COMMUNICATIONS   HOLDINGS, INC.
    
	
 
    	
COGENT   COMMUNICATIONS, INC.
    
	
 
    	
COGENT COMMUNICATIONS   OF CALIFORNIA, INC.
    
	
 
    	
COGENT COMMUNICATIONS   OF D.C., INC.
    
	
 
    	
COGENT COMMUNICATIONS   OF FLORIDA, INC.
    
	
 
    	
COGENT COMMUNICATIONS   OF MARYLAND, INC.,
    
	
 
    	
as Guarantors
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ David Schaeffer
    
	
 
    	
 
    	
Name:
    	
David Schaeffer
    
	
 
    	
 
    	
Title:
    	
President and Chief Executive   Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
COGENT COMMUNICATIONS   GROUP, INC., as sole member of each of
    
	
 
    	
 
    
	
 
    	
COGENT IH, LLC
    
	
 
    	
COGENT WG, LLC,
    
	
 
    	
as Guarantors
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ David Schaeffer
    
	
 
    	
 
    	
Name:
    	
David Schaeffer
    
	
 
    	
 
    	
Title:
    	
President and Chief Executive   Officer
    

 

[Signature Pages to Second Supplemental Indenture]

 

 

	
 
    	
WILMINGTON TRUST, NATIONAL   ASSOCIATION, as Trustee and Collateral Agent
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Joseph P. O’Donnell
    
	
 
    	
 
    	
Name:
    	
Joseph P. O’Donnell
    
	
 
    	
 
    	
Title:
    	
Vice President
    

 

[Signature Pages to Second Supplemental Indenture]

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