Document:

livecurrent_s1a5-ex1030.htm

Exhibit 10.30

 

SUBLEASE BETWEEN DOMAIN HOLDINGS INC. AND 7339534 CANADA INC.

 

THIS SUBLEASE (the “Sublease”) is made and entered into as of the 1 day of June, 2010 (“Effective Date”) between Domain Holdings Inc., an Alberta company ("Sublessor"), and 7339534 Canada Inc., a ____ company and a wholly owned subsidiary of Joyent Inc. (“Subtenant”).

 

1. PREMISES: In accordance with that certain Lease Agreement dated July 16, 2007, (the “Prime Lease”), Sublessor leases from Landing Holdings Limited and Landing Properties Limited (collectively, the “Landlord”) certain premises containing approximately 5,342 square feet in the aggregate known as Unit 645 ("Leased Premises”) in The Landing office building located at 375 Water Street, Vancouver BC V6B 5C6 (the “Building”). The Leased Premises are further described in the Prime Lease, a copy of which is attached hereto as Exhibit A and is incorporated by reference herein.

 

2. DEMISE: In accordance with this Sublease, Sublessor hereby subleases to Subtenant, and Subtenant hereby subleases from Sublessor the Leased Premises in its entirety consisting of approximately 5,342 square feet (“Subleased Premises”). The actual Subleased Premises is identified in Exhibit B attached hereto. Subject to the terms of the Prime Lease, at no additional charge to Subtenant (except such charges as may be included in Operating Costs in accordance with the terms of the Prime Lease), Subtenant shall have the right to use all associated common areas and shall have such other use and access rights as may be necessary for the exercise of its rights and the performance of its obligations hereunder, including, but not limited to, access to electrical, phone and data rooms, existing phone and data wiring infrastructure, and restrooms.

 

3. SUBLEASE: This Sublease is subject and subordinate to the Prime Lease and to the matters to which the Prime Lease is or shall be subject and subordinate.

 

4. TERM: The term of this Sublease shall commence July 1, 2010 and shall expire on September 29, 2012 (the "Term"), unless sooner terminated in accordance with this Sublease.

 

5. PRIME LEASE: The Prime Lease is incorporated herein by reference so that, except to the extent that certain provisions of the Prime Lease are inapplicable or modified by this Sublease, or excluded below, each and every term, covenant and condition of the Prime Lease binding or inuring to the benefit of Landlord shall, in respect of the Sublease, bind or inure to the benefit of Sublessor, and each and every term, covenant and condition of the Prime Lease binding or inuring to the benefit of lessee thereunder shall, in respect to the Sublease, bind or inure to the benefit of Subtenant, with the same force and effect as if such terms, covenants and conditions were completely set forth in the Sublease, and as if the words “Lessor(s)” and “Lessee(s)”, or words of similar import, wherever the same appear in the Prime Lease, were construed to mean, respectively, “Sublessor” and “Subtenant” in the Sublease, and as if the words “Leased Premises”, “Premises”, “Leased Property”, or words of similar import, wherever the same appear in the Prime Lease, were construed to mean “Subleased Premises” in the Sublease, and as if the word

“Lease”, or words of similar import, wherever the same appear in the Prime Lease, were construed to mean the “Sublease.”

 

If any of the express provisions of the Sublease shall conflict with any of the provisions of the Prime Lease incorporated by reference herein, such conflict shall be resolved in every instance in favor of the express provisions of the Sublease. Notwithstanding the foregoing or anything to the contrary contained herein, Subtenant shall not have the right to exercise any renewal options, expansion options, rights of first offer or similar rights set forth in the Prime Lease.

 

Sublessor represents and warrants that the document attached hereto as Exhibit A is a true and correct copy of the Prime Lease, as such has been amended, revised or supplemented to date.  The Prime Lease is in full force and effect without default by either Sublessor or Landlord.

 

  

  

  

6. RENT: Subtenant shall pay a portion of the total rent paid by Sublessor, including base rent, additional costs and other charges (collectively referred to herein as "Rent") as set forth on Schedule A which is attached hereto as Exhibit C and incorporated herein by this reference; provided, however, that Subtenant shall not be required to pay any charges payable by Sublessor as rent which are in the nature of penalties, interest charges or the like. Subtenant shall make all payments to Sublessor at the address set forth herein or to such other place as Sublessor may designate in writing. If the Effective Date is other than the first day of a calendar month, the Rent for the first month shall be prorated and shall be tendered to Sublessor on the first day of the following calendar month.  In the event and to the extent of any abatement of rent under the Prime Lease, Rent hereunder shall likewise be abated.   Concurrently herewith, Subtenant has delivered to Sublessor the sum of $34,851.21, representing prepayment of the first and last month’s gross rent and applicable taxes payable hereunder.

 

7. PERFORMANCE BY SUBLESSOR: Any obligations of Sublessor which are contained in the Sublease by the incorporation by reference of the provisions of the Prime Lease shall be observed or performed by Sublessor using reasonable efforts to cause the Landlord to observe and/or perform the same (which obligations include, without limitation, services to be provided by Landlord and restoration of damaged property), and Sublessor shall diligently enforce its rights to cause such observance or performance. Subtenant shall not in any event have any rights in respect of the Subleased Premises greater than Sublessor’s right with respect thereto under the Prime Lease.

 

8. NO BREACH OF PRIME LEASE: Subtenant shall not do any act which may constitute a breach or violation of any term, covenant or condition of the Prime Lease by the lessee thereunder, whether or not such act or thing is permitted under the provisions of the Sublease. Sublessor shall not do or permit to be done any act that may constitute a breach or violation of any term, covenant or condition of the Prime Lease.

 

9. NO PRIVITY OF ESTATE: Nothing contained in the Sublease shall be construed to create privity of estate or of contract between Subtenant and the Landlord.

 

10. RELEASES: Subtenant hereby releases the Landlord or anyone claiming through or under the

Landlord by way of subrogation or otherwise to the extent that Sublessor, as tenant, released the Landlord pursuant to the terms of the Prime Lease, and/or the Landlord was relieved of liability or responsibility pursuant to the provisions of the Prime Lease, and Subtenant will cause its insurance carriers to include any clauses or endorsements in favor of the Landlord which Sublessor is required to provide pursuant to the provisions of the Prime Lease with respect to the Subleased Premises.   By giving its consent to this Sublease, Landlord hereby releases the Subtenant and anyone claiming through or under the

Subtenant by way of subrogation or otherwise to the extent that Sublessor, as tenant, was released by Landlord pursuant to the terms of the Prime Lease, and/or the Subtenant  was relieved of liability or responsibility pursuant to the provisions of the Prime Lease.

 

11. USE: Subtenant shall use and occupy the Subleased Premises solely for general office purposes and lawful uses incidental thereto. Any other activities not specifically mentioned above regarding the use and occupancy of the Subleased Premises are subject to the prior written approval of Sublessor and Landlord.

 

12. CONDITION OF SUBLEASED PREMISES: Subtenant is leasing the Subleased Premises in its "as is," "where is" condition on the date hereof.  Subtenant shall surrender the Subleased Premises to Sublessor upon expiration or earlier termination of this Sublease in the same condition received, normal wear and tear excepted and without the need to make or remove any existing improvements or alterations.

 

13. CONSENT AND APPROVALS: Sublessor shall reasonably cooperate to seek Landlord's consent to any matter under the Prime Lease as may be reasonably requested by Subtenant.

 

14. NOTICES: Any notice, report, statement, approval, consent, designation, demand or request to be given under this Sublease shall be effective when made in writing, deposited for mailing with the United States Postal Service or with a recognized overnight delivery service and addressed to Sublessor or Subtenant at the following addresses:

 

  

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SUBTENANT:

Joyent

345 California St, 20th Floor

San Francisco, CA 94104

Attn: Peter Watridge

Phone (415) 400-0600

Fax      (      )                                 

 

With a copy to:

Greenberg Traurig, LLP

1900 University Avenue, 5th Floor

E. Palo Alto, CA 94536 USA

Attn:  Real Estate Notices TPW

Phone (650) 328-8500

Fax (650) 328-8508

SUBLESSOR:

Live Current Media Inc.

(obo Domain Holdings Inc.)

Attn: Andrea Laird

Suite 307, 780 Beatty Street

Vancouver, BC V6B 2M1

                                                     

With a copy to:

                                                     

                                                     

                                                     

                                                     

                                                     

Phone (      )                                

Fax      (      )                                 

Sublessor shall promptly give written notice to Subtenant of (i) all claims, demands or controversies by or with the Landlord under the Prime Lease, and (ii) any events which require that Sublessor give notice to Landlord under the Prime Lease, which would materially affect Subtenant's rights or obligations hereunder.

 

15. TERMINATION: If for any reason the Prime Lease shall terminate prior to the expiration of the Sublease Term, this Sublease shall thereupon be terminated and Sublessor shall have no liability whatsoever to Subtenant by reason thereof (unless the termination occurred as a result of Sublessor's default or breach under the Prime Lease or this Sublease).

 

16. ASSIGNMENT AND SUBLETTING: Subtenant shall not sublet the Subleased Premises or any part thereof or assign the Sublease or otherwise encumber or dispose of its interest therein without Sublessor’s and Landlord’s prior written consent in each instance, which consent shall not be unreasonably withheld by Sublessor.  Notwithstanding the foregoing, Subtenant shall have the right, without Sublessor’s consent, to assign this Sublease to merger partners or any entity that controls, is controlled by, or under common control with Subtenant; however, such assignment shall remain subject to Landlord’s consent as set forth in the Prime Lease.

 

17. INSURANCE: Subtenant shall, throughout the Term of this Sublease, maintain for the Subleased Premises comparable insurance coverage as required of Sublessor under the Prime Lease. Such insurance shall, in addition to complying with the requirements of the Prime Lease, name Sublessor as an additional insured.

 

  

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18. DEFAULT: The default provisions set forth in the Prime Lease are incorporated herein by reference, provided that Subtenant shall have a ten (10) day notice and cure period for monetary default and a thirty (30) day notice and cure period for non-monetary default (unless such non-monetary default is not capable of cure within thirty (30) days, in which case Subtenant shall have a reasonable period of time in which to effect a cure, so long as Subtenant diligently prosecutes the cure to completion).

 

19. BROKERAGE: Each party represents and warrants to the other that no broker or other person had any part, or was instrumental in any way, in bringing about the Sublease, other than Bill Coulter of CB Richard Ellis Limited, on behalf of Sublessor, and Blair Quinn of CB Richard Ellis Limited, on behalf of Subtenant  (collectively, “Broker”). Each party agrees to indemnify, defend and hold harmless the other from and against any claims made by any broker or other person (other than Broker) for a brokerage commission, finder’s fee, or similar compensation, by reason of or in connection with the Sublease, and any loss, liability, damage, cost and expense (including, without limitation, reasonable attorney’s fees) which may be incurred in connection with such claims if such other broker or other person (other than Broker) claims to have had dealings with such party. Sublessor shall be responsible for all payments due to Broker in connection with this Sublease pursuant to separate written agreements.

 

20. WAIVER OF JURY TRIAL AND RIGHT TO COUNTERCLAIM: Each party hereby waives all right to trial by jury in any action, proceeding or counterclaim arising out of or in any way connected with the Sublease, the relationship of Sublessor and Subtenant, the Subleased Premises and the use and occupancy thereof, and any claim of injury or damages.

 

21. MODIFICATIONS: The Sublease cannot be changed orally or in any manner other than by a written agreement executed by both parties. Sublessor shall not amend the Prime Lease with respect to any material provision that would materially affect Subtenant's rights or obligations hereunder without Subtenant's prior written consent.

 

22. SUCCESSORS AND ASSIGNS: The provisions of the Sublease, except as herein otherwise specifically provided, shall extend to, bind and inure to the benefit of the parties hereto and their respective personal representatives, heirs, successors and permitted assigns.

 

23. INTERPRETATION: This Sublease shall be governed by and construed in accordance with the laws of the Province of British Columbia. If any provision of the Sublease or application thereof to any person or circumstance shall, for any reason and to any extent, be invalid or unenforceable, the remainder of the Sublease and the application of that provision to other persons or circumstances shall not be affected but rather shall be enforced to the extent permitted by law. The captions and headings are solely for convenience of reference and shall be construed without regard to any presumption or other rule requiring construction against the party causing the Sublease to be drafted.

 

24. AUTHORITY: Each party represents and warrants that the undersigned has the full right, power and authority to execute this Sublease on behalf of the party indicated.

 

25. QUIET ENJOYMENT: Sublessor warrants that, upon payment of the Rent, as defined herein, and performance of all obligations, covenants and agreements of Subtenant hereunder, Subtenant shall peaceably and quietly have, hold and enjoy the Subleased Premises during the Sublease Term, subject however to the provisions of this Sublease.

 

26. FURNITURE AND EQUIPMENT: Sublessor agrees to allow Subtenant to use the office furniture and equipment located within the Subleased Premises as of the date hereof as set forth on Schedule B attached hereto as Exhibit D and incorporated herein by this reference (collectively, the “Furniture and Equipment”).  Ownership of the Furniture and Equipment shall remain with the Sublessor.  The Furniture and Equipment shall be returned to Sublessor upon expiration of the Term in the same condition received, subject to reasonable wear and tear.  Furniture and Equipment (other than fixtures) not required by Subtenant will be removed by Sublessor at Sublessor’s expense, prior to the Commencement Date.

 

  

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26.1 COMMUNICATIONS EQUIPMENT.  The Subtenant shall be responsible for the installation and maintenance of its telephones, computers and special communications equipment.

 

27. PARKING: Subject to the terms and conditions of the Prime Lease, Sublessor shall, at the prevailing market rate currently at Two Hundred Fifty Dollars ($250.00) each plus applicable taxes, allow Subtenant the use of such parking as is made available to Sublessor under the Prime Lease with respect to the Subleased Premises, but no less than 2 reserved parking spaces.

 

28. INTEGRATION:  This Sublease represents the final, integrated agreement of the parties with respect to the subject matter hereof, and supercedes any and all prior documents or agreements, written or oral, between the parties, including without limitation all offers and counteroffers.

 

29. LANDLORD’S CONSENT: This Sublease is expressly contingent upon receipt of Landlord’s approval and execution of the Landlord’s Consent attached hereto as Exhibit E and incorporated herein by this reference.

 

30. COUNTERPARTS: This Sublease may be executed in multiple counterparts. Facsimile signatures shall be deemed originals.

 

IN WITNESS WHEREOF, Sublessor and Subtenant have hereunto executed the Sublease as of the day and year first above written.

 

SUBTENANT:

Joyent

By: Peter Watridge, CFO

/s/Peter Watridge

Name: Peter Watridge

Date: 06/01/2010

 

SUBLESSOR:

Domain Holdings Inc.

By: Mark Melville

/s/Mark Melville

Name: Mark Melville

Title: President

Date: 06/01/2010

 

Exhibit A – Prime Lease

Exhibit B – Subleased Premises

Exhibit C – Schedule A: Rent

Exhibit D – Schedule B: Furniture and Equipment

Exhibit E – Landlord Consent

  

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EXHIBIT A

PRIME LEASE

 

 

 

 

(Previously filed as Exhibit 10.8 to Live Current Media Inc.'s Quarterly Report on Form 10-QSB for period ended September 30, 2007 as filed on November 19, 2007.)

 

 

 

 

  

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EXHIBIT B

SUBLEASED PREMISES

 

 

 

  

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EXHIBIT C

SCHEDULE A: RENT

 

Rent

 

The Net base rent shall be as follows:

	
 

Term

	
 

Rent per Rentable Sq. Ft. per Annum

	
 

Approximate Annual Rent

	
 

Approximate Monthly Rent

	
27 Months

	
$19.00

	
$101,498

	
$8,458.17

Plus applicable taxes and shall be paid in advance in equal monthly installments on the first day of each month of the Term commencing on July 1, 2010 without setoff or deduction except as set out herein and subject to the provisions hereof.

 

Payments of Rent plus applicable taxes shall be adjusted on a per diem basis if the Term commences other than the first day of the month or expires other than on the last day of the month.

 

Property Taxes and Operating Expenses

 

The Sub-Tenant shall be responsible and pay for its proportionate share of building property taxes and operating expenses plus applicable taxes currently estimated to be Fifteen Dollars and Ninety Five Cents ($15.95) per square foot per annum for the year ending December 31st, 2010.  The Sub-Tenant shall also pay for its business taxes and telephone charges.

 

  

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EXHIBIT D

SCHEDULE B: FURNITURE AND EQUIPMENT

 

Office Furniture

 

Live Current Media Inc.

 

	
Furniture Item

	
Description

	
Amount

	
Label #

 

Boardroom

	
Markerboard

	
wall-mounted, aluminum frame

	
1

	
LCM001

	
Office Chair

	
wheely, black/dark grey

	
6

	
LCM002 - LCM007

	
Oval Meeting Table

	
laminate, white

	
1

	
LCM008

	
Projector

	
ceiling-mounted

	
1

	
LCM009

 

Office Supply Room

	
Shelving Unit

	
installed, birch

	
3

	
LCM010 - LCM 012

Open Meeting Area

	
Office Chair

	
wheely, black/dark grey

	
8

	
LCM013 - LCM020

	
Oval Meeting Table

	
dark brown

	
1

	
LCM021

Private Office 1

	
Credenza

	
with 1 steel sliding door, white

	
1

	
LCM022

	
Desk

	
white table top, 2 silver Y-bases

	
1

	
LCM023

	
Filing Cabinet Unit

	
with 2-3" drawer, 4-10.5" drawers, bottom, white

	
1

	
LCM024

	
Office Chair

	
wheely, black/dark grey

	
1

	
LCM025

	
Overdesk Unit

	
21" tall, open overhead and partial steel sliding door, white

	
1

	
LCM026

	
Side Chair

	
Upholstered back, arms, black

	
2

	
LCM027, LCM028

Private Office 2

	
Credenza

	
with 1 steel sliding door, white

	
1

	
LCM029

	
Desk

	
white table top, 2 silver Y-bases

	
1

	
LCM030

	
Filing Cabinet Unit

	
with 2-3" drawer, 4-10.5" drawers, bottom, white

	
1

	
LCM031

	
Office Chair

	
wheely, black/dark grey

	
1

	
LCM032

	
Overdesk Unit

	
21" tall, open overhead and partial steel sliding door, white

	
1

	
LCM033

	
Side Chair

	
Upholstered back, arms, black

	
2

	
LCM034, LCM035

Private Office 3

	
Credenza

	
with 1 steel sliding door, white

	
1

	
LCM036

	
Desk

	
white table top, 2 silver Y-bases

	
1

	
LCM037

	
Filing Cabinet Unit

	
with 2-3" drawer, 4-10.5" drawers, bottom, white

	
1

	
LCM038

	
Office Chair

	
wheely, black/dark grey

	
1

	
LCM039

	
Overdesk Unit

	
21" tall, open overhead and partial steel sliding door, white

	
1

	
LCM040

	
Side Chair

	
Upholstered back, arms, black

	
2

	
LCM041, LCM042

 

  

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Furniture Item

	
Description

	
Amount

	
Label #

 

Private Office 4, CEO

	
Conference Round Table

	
36 dia, white table top with chrome base

	
1

	
LCM043

	
Credenza

	
with 1 steel sliding door, white

	
1

	
LCM044

	
Desk

	
white table top, 2 silver Y-bases

	
1

	
LCM045

	
Filing Cabinet Unit

	
with 2-3" drawer, 4-10.5" drawers, bottom, white

	
1

	
LCM046

	
Office Chair

	
wheely, black/dark grey

	
1

	
LCM047

	
Side Chair

	
Upholstered back, arms, black

	
6

	
LCM048 - LCM053

Private Office 5

	
Desk

	
white table top, 2 silver Y-bases

	
1

	
LCM054

	
Office Chair

	
wheely, black/dark grey

	
1

	
LCM055

	
Small Storage Units

	
wheely, white, upholstered top

	
1

	
LCM056

Reception Area

	
Coffee Table

	
grey, glass top

	
1

	
LCM057

	
Lounge Chairs

	
white, square

	
3

	
LCM058 - LCM060

	
Office Chair

	
wheely, black/dark grey

	
1

	
LCM061

Small Meeting Room

	
Conference Round Table

	
36 dia, white table top with chrome base

	
1

	
LCM062

	
Office Chair

	
wheely, black/dark grey

	
3

	
LCM063 - LCM065

Work Stations/Cubicles

	
Desk Units

	
Cubicle Workstations, assembled

	
24

	
LCM066 - LCM089

	
Office Chair

	
wheely, black/dark grey

	
24

	
LCM090 - LCM113

	
Small Storage Units

	
wheely, white, upholstered top

	
24

	
LCM114 - LCM137

	 

 

	 Summary:     	
Coffee Table

	
1

	 	
Conference Round Tables

	
2

	 	
Credenzas

	
4

	 	
Desks

	
5

	 	
Desk Units

	
24

	 	
Filing Cabinet Units

	
4

	 	
Lounge Chairs

	
3

	 	
Markerboard

	
1

	 	
Office Chairs

	
47

	 	
Oval Meeting Tables, White

	
1

	 	
Oval Meeting Tables, Brown

	
1

	 	
Overdesk Units

	
3

	 	
Shelving Units

	
3

	 	
Side Chairs

	
12

	 	
Small Storage Units

	
24

 

  

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EXHIBIT E

LANDLORD’S CONSENT

 

Landlord acknowledges, agrees and accepts the terms and conditions of the foregoing Sublease.  Landlord further acknowledges that Sublessor is not in default under the Prime Lease and no event or condition exists which, with the giving of notice or the passage of time, or both, would constitute a default or event of default by Sublessor under the Prime Lease.

 

LANDLORD:

 

 

By:                                                                                                 

[Signature]

Name:                                                                                            

 

Date:                                                                                              

 

 

 

 

 

 

 

 

  

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CONSENT TO SUBLEASE

 

 

	
To: 

	
DOMAIN HOLDINGS INC.

(the "Sublandlord")

 

	
And to:

	
7339534 CANADA INC., a subsidiary of JOYENT, INC. (the "Subtenant")

 

	
Re: 

	
Request by the Sublandlord to sublease to the Subtenant a part of the premises originally leased by the Head Landlord to the Sublandlord pursuant to a lease dated July 16, 2007 (the "Head Lease") as set out in the sublease in the form of Schedule A (the "Sublease").

 

 

	
(1)  

	
The Head Landlord hereby consents to the subletting of the premises (the "Sublet Premises") to be sublet pursuant to the Sublease upon the terms and conditions contained in the Sublease. Except as specifically agreed to herein, nothing in this document shall be construed as releasing the Sublandlord, or the Subtenant as applicable, from its obligations under the Head Lease, nor shall the paramountcy of the Head Lease terms be diminished by the Sublease unless agreed to herein.

 

	
(2)  

	
The consent of the Head Landlord herein contained will not be construed as a consent to any further subletting of any part of the leased premises leased under the Head Lease (the "Leased Premises") by either the Sublandlord or the Subtenant, or to permit an assignment of the Head Lease or the Sublease without the prior written consent of the Head Landlord in accordance with the terms of the Head Lease.

 

	
(3)  

	
The consent of the Head Landlord herein will not be construed as the approval by the Head Landlord of the terms of the Sublease, or as any representation by the Head Landlord as to the accuracy of any fact contained in the Sublease or to permit the Subtenant to remain in possession of the Sublet Premises in the event that the Head Lease is terminated for any reason, whether or not such termination is within the control of the Subtenant, notwithstanding that the Subtenant may keep the Sublease in good standing or attom to the Head Landlord.

 

	
(4)  

	
The Sublandlord and Subtenant agree that the Head Landlord may, by at least 10 days' prior written notice to the Subtenant, require the Subtenant to pay all rent due and owing under the Sublease to the Head Landlord as agent for and on behalf of the Sublandlord. Provided the Subtenant makes such rental payments to the Head Landlord, the Sublandlord shall credit the Subtenant for all such payments as though they were made directly to the Sublandlord. The Head Landlord shall be entitled to apply the payments so received from the Subtenant to any amounts owing under the Head Lease in the manner provided in the Head Lease. Receipt of the foregoing rental payments by the Head Landlord, as agent for and on behalf of the Sublandlord, shall not create a tenancy relationship between the Head Landlord and the Subtenant.

 

  

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(5)  

	
Despite Section 5 of the Sublease, the Subtenant shall be bound by any exercise of the Head Landlord's rights under the Head Lease whether notice of the exercise of the Head Landlord's rights is given to the Sublandlord or the Subtenant.

 

	
(6)  

	
For consideration, the receipt and sufficiency of which is hereby acknowledged by both the Sublandlord and Subtenant, this section amends the Sublease dated June 1, 2010:

 

- section 2 is deleted in its entirety and replaced with the following:

 

	 	
2. 

	
DEMISE: In accordance with this Sublease, Sublessor hereby subleases to Subtenant, and Subtenant hereby subleases from Sublessor the Leased Premises in its entirety consisting of approximately 5,342 square feet ("Subleased Premises"). The actual Subleased Premises is identified in Exhibit B attached hereto. Subject to the terms of the Prime Lease, at no additional charge to Subtenant (except such charges as may be included in Operating Costs in accordance with the terms of the Prime Lease), Subtenant shall have the right to use all associated common areas and shall have such other use and access rights as may be necessary for the exercise of its rights and the performance of its obligations hereunder, including, but not limited to, access to electrical, phone and data rooms, existing phone and data wiring infrastructure, and restrooms, in accordance with the prime lease.

 

- section 14 is deleted in its entirety and replaced with the following:

 

	 	
14. 

	
NOTICES: Any notice, report, statement, approval, consent, designation, demand or request to be given under this Sublease shall be effective when made in writing, deposited for mailing with the United States Postal Service or with a recognized overnight delivery service and addressed to Sublessor or Subtenant at the following addresses below. Notwithstanding the foregoing, any notices involving the Head Landlord shall be subject to the notice provisions of the Prime Lease.

 

Subtenant:

 

Joyent, Inc.

345 California Street, 20th Floor 

San Francisco, CA 94104

Attn: Peter

Phone (415) 400-0600

Fax      (      )

 

With a copy to:

 

Greenberg Traurig LLP

1900 University Avenue, 5th Floor 

E. Palo Alto, CA 94536

Attn: Real Estate Notices TPW 

Phone (650) 328-8500

Fax (650) 328-8508

 

  

13

  

 

Sublessor:

 

Live Current Media Inc.

Suite 307, 780 Beatty Street

Vancouver, BC V6B 2M1

Attn: Andrea Laird

 

- section 20 is deleted in its entirety

 

	
(7)

	
The consent of the Head Landlord herein is conditional upon the receipt by the Head Landlord of its legal fees and costs for providing this consent, in the amount of $750.00.

 

DATED at Vancouver, British Columbia, this   14th  day of June, 2010.

 

LANDING HOLDINGS LIMITED 

LANDING PROPERTIES LIMITED

 

 

Per:          /s/ Jason McLean                 

Authorized Signatory

 

The foregoing are agreed and accepted by the Sublandlord and the Subtenant. 

 

Dated at   Vancouver   , British Columbia, this  14th  day of June, 2010.

 

DOMAIN HOLDINGS INC.

 

 

Per:            /s/ Mark Melville                     

Authorized Signatory

 

Dated at   Vancouver   , British Columbia, this  14th  day of June, 2010.

 

 

7339534 CANADA INC., a wholly owned 

subsidiary of JOYENT, INC.

 

 

Per:           /s/ Peter Watridge                     

Authorized Signatory

 

 

 

14livc_ex1031.htm

Exhibit 10.31

 

SETTLEMENT AGREEMENT AND RELEASE 

 

 

This Settlement Agreement and Release (“Agreement”) is entered into by and between Live Current Media Inc. and its subsidiaries (collectively, “Company”), on the one hand, and Mark Melville, an individual (“Mr. Melville”), on the other hand.

 

Recitals

 

	
1.  

	
On August 25, 2009, the Company entered into an agreement to transfer its cricket-related operations to a third party (the “Cricket Agreement”).  As part of the Cricket Agreement, it was agreed that the third party would venture to sign an employment agreement with Mr. Melville and in the interim pay for all of the costs associated with Mr. Melville’s employment.

 

	
2.  

	
From August 25, 2009 to April 30, 2010 the Company has been reimbursed for all Mr. Melville’s costs including salary, benefits, vacation pay and expenses. Mr. Melville has tendered his resignation as the Company’s President and Chief Corporate Development Officer to take effect October 1, 2010.

 

	
3.  

	
Pursuant to the terms of Mr. Melville’s Employment Agreement, dated November 9, 2007, with the Company (the “Employment Agreement”), the Company owes Mr. Melville a $100,000 special bonus that was payable on January 1, 2009 and a $100,000 special bonus that was payable on January 1, 2010.  The two special bonuses referenced herein shall be referred to collectively as the “Special Bonuses.”

 

	
4.  

	
To expedite and facilitate a smooth transition of Mr. Melville’s transfer of employment to the third party pursuant to the Cricket Agreement, the Company and Mr. Melville desire to settle and resolve all possible disputes between them relating to his employment compensation and the Special Bonuses on the terms set forth herein.

 

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, and one hundred dollars ($100.00) good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Company and Mr. Melville agree as follows:

 

Agreement

 

	
1.

	
This Agreement replaces and supersedes the Employment Agreement, which shall be terminated upon execution of this Agreement with the exception of paragraphs 8, 9, 10, 11 and 12 of the Employment Agreement, to which the Executive agrees to continue to be bound.  If there is any conflict between this Agreement and the Employment Agreement, the provisions of this Agreement will prevail.

 

	
2. 

	
Mr. Melville will continue to render part-time services to the Company from May 1, 2010 until September 30, 2010 (the “Term”).

 

	
3. 

	
During the Term, the Company agrees to pay Mr. Melville a combination of cash and shares of the Company’s common stock (as described below) in full and final satisfaction of all Special Bonus payments which the Company owes to Mr. Melville:

 

 

  

1

  

 

	
a.  

	
Within 5 days of the execution of this Agreement, the Company will issue to Mr. Melville shares of its restricted common stock equivalent to $75,000 (less required statutory deductions, as defined in paragraph 3.7 of the Employment Agreement). The number of shares to be issued shall be computed using the average trading price of the common stock over the 30 trading days prior to the execution date of this Agreement.

 

	
b.  

	
During the Term Mr. Melville shall be paid the sum of $20,833.33 per month less required statutory deductions as defined in paragraph 3.7 of the Employment Agreement.

 

	
5.  

	
On or before the end of the Term, the Company will pay Mr. Melville all accrued vacation pay.

 

	
6.  

	
The Company shall pay on Mr. Melville’s behalf (i) premiums for the Medical Services Plan (“MSP”) of British Columbia (“Statutory Benefits”) and (ii) premiums for extended medical and dental benefits currently provided by the Sun Life Insurance Company (the “Discretionary Benefits”) which does not include long term disability insurance.  The Company shall pay for the Statutory Benefits through the end of the Term.  The Company shall pay for the Discretionary Benefits until the earlier of (A) the termination of the Discretionary Benefits for all of the Company’s employees or (B) through the end of the Term.  Mr. Melville acknowledges that he will not be entitled to any other compensation, benefit, or payment from the Company whether pursuant to his Employment Agreement, or otherwise, other than that expressly set forth in this Agreement.  Mr. Melville further agrees that the amounts paid under this Agreement may be applied as a set-off against any later claim that he may make.

 

	
7.  

	
Mr. Melville acknowledges that at the conclusion of the Term, he will no longer be an Employee of the Company for any reason.  Mr. Melville acknowledges that, upon execution of this Agreement, he relinquishes all options granted to him, whether vested or unvested, under the Communicate.com, Inc. 2007 Stock Incentive Plan.

 

	
8.  

	
Mr. Melville acknowledges that he has not relied upon the Company or its legal counsel or accountants for any advice in connection with the tax treatment of this payment.  Mr. Melville agrees to indemnify and hold the Company harmless from any and all claims or liability, including costs and legal fees, incurred as a result of any payments made to Mr. Melville under this Agreement or the Employment Agreement.

 

	
9.  

	
On or before the end of the Term, Mr. Melville will return all Company property to the Company, apart from the Company’s laptop computer used by Mr. Melville.  Mr. Melville and the Company understand and agree that the term “Company property” will be given its broadest meaning and will include, without limitation, all Company equipment, access codes, documents and electronic files.

 

	
10.  

	
Mr. Melville acknowledges that the Company’s business and future success depends on preservation of its trade secrets and other confidential, proprietary information concerning the Company, its affiliates, suppliers, and customers (“Secrets”).  Proprietary information means information, ideas and materials of or about the Company or its affiliates, employees, customers, or others with whom the Company conducts business.  These Secrets include, without limitation: technology, business plans, finances, marketing policies and practices; supplier identity and costs; contract renewal dates; employee lists and compensation; and other such business information.  Mr. Melville warrants and agrees that he will keep these Secrets confidential and will not use or disclose them for any reason, unless required to do so by law.  Nothing in this provision shall limit the right and obligation of Mr. Melville to provide truthful information when the law so requires.

 

 

  

2

  

 

	
11.  

	
The parties agree that this Agreement imposes the duty of good faith on all parties, that this Agreement sets forth completely the terms of the parties’ agreement and understanding, that this Agreement supersedes any and all prior agreements or understandings, both oral and written, and that this Agreement cannot be modified without the express written consent of the parties hereto.

 

	
12.  

	
Mr. Melville, on behalf of himself, his heirs, executors, administrators, and assigns, does forever release and forever discharge the Company together with its affiliates, subsidiaries, directors, officers, employees, agents, owners and shareholders from any and all manners of actions, causes of actions, suits, contracts, claims, complaints, damages, costs and expenses of any nature or kind whatsoever known or unknown whether in law or in equity or pursuant to statute, which, as against the Company, Mr. Melville has ever had or now has by reason of or arising out of any cause, matter or thing whatsoever occurring or existing up to the end of the Term and without limiting the generality of the foregoing, any matter, cause, or thing relating to or arising out of Mr. Melville’s employment with the Company, his Employment Contract, this Agreement or the termination of Mr. Melville’s employment with the Company, and any other claim for damages, notice, payment in lieu of notice, wrongful dismissal, severance pay, loss of benefits including long term and short term disability, pension issues, bonus, profit sharing, stock distribution, stock options or stock purchase rights, overtime pay, commissions, vacation pay, unjust enrichment or any claims under the British Columbia Employment Standards Act or Human Rights Code.

 

	
13.  

	
 No part of this Agreement or the decision of any party to resolve these matters and enter into this Agreement shall be construed as an admission of wrongdoing or liability.

 

	
14.  

	
All dollar amounts in this Agreement are stated and payable in Canadian dollars unless stated otherwise.

 

	
15.  

	
In the event that any provision of the Agreement or compliance by any of the parties with any provision of this Agreement shall constitute a violation of any law, then such provision, to the extent only that it is so in violation, shall be deemed ineffective and unenforceable and shall be separable from the remaining provisions of the Agreement, which provisions shall remain binding on the parties.

 

	
16.  

	
The terms and conditions of this Agreement shall be binding upon and inure to the benefits of the parties hereto and their respective heirs, successors, personal representatives, and assigns.

 

	
17.  

	
The prevailing party will be entitled to costs and reasonable legal fees incurred in any action to enforce or address an alleged violation of the provisions of this Agreement.

 

	
18.  

	
This Agreement shall be governed by the laws of the Province of British Columbia, without reference to its choice of law rules.  The courts of British Columbia sitting in the City of Vancouver will have exclusive jurisdiction over this Agreement, including its enforcement and any dispute regarding its interpretation and application, and the parties hereby irrevocably submit to the jurisdiction of those courts for those purposes.

 

	
19.  

	
This Agreement may be executed in one or more counterparts, all of which together shall constitute one Agreement, and each of which separately shall constitute an original document.

 

 

  

3

  

 

	
20.  

	
The parties signing below hereby warrant and represent that (1) this Agreement is being entered into freely, knowingly, and voluntarily; (2) this Agreement is fair and equitable; (3) any and all conditions to the execution, validity, or enforceability of this Agreement have been met; and (4) this Agreement is valid, binding, and enforceable.

 

	
21.  

	
Mr. Melville further warrants that: (1) he has read this Agreement and finds that it is written in a manner that he understands; (2) he understands that this Agreement does not waive rights or claims that may arise after the date this Agreement is executed; (3) he has been advised that he has the right to consult with legal counsel prior to executing this Agreement and has had a reasonable opportunity for independent advice; and (4) he has signed this Agreement as his free and voluntary act.

 

THE UNDERSIGNED HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND AND AGREE TO IT.

 

 

	
/s/ Mark Melville

	 	
June 16, 2010

	 
	
Mark Melville

	 	
Date

	 
	  	 	  	 
	  	 	  	 
	
/s/ Chantal Iorio

	 	
June 16, 2010

	 
	
Witnessed by: Chantal Iorio

	 	
Date

	 
	  	 	  	 
	  	 	  	 
	
Live Current Media Inc.

	 	  	 
	  	 	  	 
	  	 	  	 
	
/s/ Geoff Hampson

	 	
June 16, 2010

	 
	
Geoff Hampson

	 	
Date

	 
	
Chief Executive Officer

	 	  	 

 

 

 

 

 

 

 

 

4

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