Document:

THE MARYJANE GROUP, INC. 8-K

 

Exhibit 10.03

 

  

LEASE
AND SERVICE AGREEMENT

 

THIS AGREEMENT OF LEASE for a specific
use, is made this 10th day of March, 2016, by and between Collins Ranch, LLC, (A Colorado Limited liability company), Owner (hereinafter
called “Landlord”) and The MaryJane Group, Inc. (A Nevada Corporation) (hereinafter called “Tenant”).

For their mutual benefit and consideration,
the parties hereto agree as follows:

1.

Premises. Landlord hereby leases
to Tenant the following described premises, situate in the County of Grand, State of Colorado, to-wit: 

Address:13206 CR 3, Parshall, CO 80468 known as and operated
as the Aspen Canyon Ranch situated on approximately 414 acres of private land located in Grand County, Colorado Aspen Canyon Ranch
(the “Ranch”) public/guest areas consist of, Guest cabins (Trout , Elk and Deer), Guest house known as the “River
House.” Guest house known as the “Cliff House,” (each of which is more fully described below in Section 3 hereof,
the,Main Lodge (Excluding office area and kitchen) and all outdoor area comprising the Ranch . Note: specific access to kitchen
area will be permitted for guests

2.

Term. The term of this Lease shall
begin on the 1st day of July, 2016 and shall continue for the following rental periods set forth below:

July 1, 2016 - July 12, 2016

July 19, 2016-September 30, 2016

For a total of 85 rentable dates.

3.

Specific Use and Occupancy. The
property is leased for a maximum occupancy of (56 guests ) to Tenant, its guests and invitees to be used specifically for Guest
Ranch lodging and accommodations. Landlord agrees that Tenant may permit the use of marijuana by Guests and their visitors on
premises in designated areas, provided Tenant requires all guests/invitees to sign the applicable waiver of liability. Any other
use must be approved by Landlord in writing.

Occupancy breakdown for lodging:

Cliff House: Sleeps 11 - 1 King,
2 Queens, 1 Captain Bunk, 1 Twin, 1 oversized Twin Futon. 

River House: Sleeps 9: 2 Queens, 1 Queen Sofa Sleeper,
1 Twin Sofa Sleeper, 1 Full Futon.

Trout 1: Sleeps 2 - 1 Queen

Trout 2: Sleeps 3 - 1 Queen, 1
Twin Sofa Sleeper

Trout 3: Sleeps 4 - 1 Twin, 1 Twin
Bunk Bed, 1 Twin Loft

Trout 4: Sleeps 4: 1 Captain
Bunk, 1 Twin Loft

 

    	

    	 

    

Elk 1: Sleeps 3 - 1 Queen, 1 Twin
Sofa Sleeper

Elk 2: Sleeps 3 - 1 Queen, 1 Twin
Sofa Sleeper

Elk 3: Sleeps 4 - 1 Queen, 1 Twin
Sofa Sleeper, 1 Twin Loft

Elk 4: Sleeps 4 - 1 Captain Bunk, 1 Twin Loft

Deer 1: Sleeps 2 - 1 Queen

Deer 2: Sleeps 2 - 1 Queen

Deer 3: Sleeps 3 - 1 Queen, 1 Twin
Sofa Sleeper

Deer 4: Sleeps 2 - 1 Queen

4.

Rent.

a.

The total rent for the property, inclusive of all applicable
lodging tax is $215,628, payable on the day of each month of the term in the following installments:

1.

March 9th 2016 : $25,000,

2.

April 15th, 2016: $25,000,

3.

May 15th 2016: $25,000,

4.

June 15th 2016: $25,000,

5.

July 15th 2016 $25,000,

6.

August 15th 2016 $90,628

b.

Any installment of rent accruing under the provisions
of this Lease which shall not be paid when due shall be subject to a $100 Dollar per day late charge plus interest at 18% per
annum thereafter until paid. 

4.

Landlord Services. Landlord shall
provide the necessary accommodations and services for up to 56 guests, including but not limited to: check in/out services, linens,
housekeeping, daily breakfast service, typical guest ranch services.

5.

Waste, Nuisance or Unlawful Use.
Tenant agrees that he will not commit waste on the premises, or maintain or permit to be maintained a nuisance thereon, or use
or permit the premises to be used in an unlawful manner. 

6.

Alterations. It is agreed that Tenant
will not make or permit to be made, any alterations, additions, improvements or changes in the premises without, in each case,
first obtaining the written consent of Landlord. A consent to a particular alteration, addition, improvement or change shall not
be deemed a consent to or a waiver of restrictions against alterations, additions, improvements or changes for the future. 

7.

Destruction of Premises and Eminent Domain.
If the premises are substantially destroyed by fire or taken by eminent domain, either party may terminate this Lease without liability
for the remainder of the term. A condemnation award shall belong exclusively to Landlord.

    	

    	 

    

 

8.

Insurance. On or before July 1,
2016, Tenant shall have the Leased Premises and their contents insured under a normal “Renter’s Insurance Policy,”
including but not limited to coverage for all hazards and risks and at least $300,000 liability insurance.  Landlord shall
be named as an additional insured on Tenant’s Insurance policies to the extent possible and Tenant agrees to provide a “Declaration
page” on or before July 1, 2016. Landlord shall cause Tenant to be named on it’s general liability policy in place
on July 1, 2016. Landlord shall provide Tenant with policy information and a “Declaration page” of such insurance
on or before July 1, 2016.

9.

Default by Tenant. The occurrence
of anyone or more of the following events shall constitute a default and breach of this Lease by Tenant.

a.

The failure by Tenant to make any payment of rent required
to be made by Tenant when due.

b.

The failure of Tenant through its guests and invitees,
to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Tenant, other
than the payment of rent, where such failure shall continue for a period of l0 days after written notice thereof is given by Landlord
to Tenant; provided, however, that if the nature of Tenant’s default is such that more than l0 days are reasonably required
for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said l0-day period and thereafter
diligently prosecutes such cure to completion.

10.

Remedies in Default. In the event
of any default or breach by Tenant, Landlord, at any time thereafter, with or without notice or demand and without limiting Landlord
in the exercise of a right or remedy which Landlord may have by reason of such default or breach, may proceed in accordance with
any or all of the following:

a.

Landlord may continue this Lease in full force and effect
and shall have the right to collect rent when due, plus attorney’s fees and costs incurred by Landlord in the collection
of rent from Tenant.

b.

Landlord may deny Tenant, its guests and invitees access
to the Ranch.

c.

Pursue any other remedy now or hereafter available
to Landlord under the laws or judicial decisions of the State of Colorado.

11.

Default by Landlord. Landlord shall not
be in default unless Landlord fails to perform obligations required of Landlord within a “reasonable time”, but in
no event later than 14 days after written notice by Tenant to Landlord, specifying wherein Landlord has failed to perform such
obligations; provided, however, that if the nature of Landlord’s obligation is such that more than 14 days are required
for performance, then Landlord shall not be in default if Landlord commences performance within a “reasonable time”
and thereafter diligently prosecutes the same to completion.

    	

    	 

    

 

12.

Written Notification. Each party
agrees to forward promptly and immediately to the other party any written notice received or prepared by any party with an interest
in this Lease which may affect the interest of the other party under this Lease. Notices shall be sent to the parties at the following
addresses:

a.

Landlord:Collins Ranch, LLC

c/o Scott Sussman, P.C.

PO Box 1476

Frisco, CO 80443

sussmanpc@gmail.com

b.

Tenant:The MaryJane Group Inc.

910 16th Street, Suite 412

Denver, Colorado 80202

c/o Joel C. Schneider, CEO

Joel@themaryjanegrp.com

13.

Amendment or Modification. No amendment
or modification of this Lease shall be valid or binding unless expressed in writing and executed by the parties hereto in the
same manner as the execution of this Lease.

14.

Whole Agreement. This Lease, together
with any written agreements which have been executed simultaneously herewith, contains the entire understanding and agreement
of the parties in reference to occupancy by Tenant of the demised premises. There are no oral understandings, expressed or implied,
not contained in this Lease or other simultaneous writings heretofore referred to. All understandings, terms or conditions relating
to occupancy of the demised premises pursuant to the terms of this Lease are deemed merged in this Lease.

15.

Additional Services. The following
services are not part of this Agreement, food service for lunch and dinner, on site paid Activities and Rentals, transportation
services, 

16.

Choice of Law. This Lease shall
be governed by the laws of the State of Colorado.

17.

Waiver of Breach. No waiver of any
breach or breaches of any provision of this Lease shall be construed to be a waiver of any preceding or succeeding breach of such
provision or of any other provision hereof.

18.

Attorney’s Fees. In the event
of any dispute or litigation brought by either party to this lease to enforce his rights hereunder, the prevailing party shall
be entitled to recover his reasonable attorney’s fees and costs, in addition to any other amounts to which he might be entitled.

 

    	

    	 

    

 

IN WITNESS WHEREOF, the parties hereto
have executed this Lease and Service Agreement on the day and year first above written.

 

	LANDLORD: 	 	TENANT: 
	 	 	 
	COLLINS RANCH, LLC	 	The Mary Jane Group, Inc.
	 	 	 
	 	 	 
	/s/ Ryan Colllins	 	/s/ Joel Schneider
	By: Ryan Collins, Manager	 	By: Joel Schneider, CEO and Presidenta1030rocketfuelceoofferl

   Rocket Fuel Inc.   1900 Seaport Boulevard   Pacific Shores Center   Redwood City, CA 94063   Phone: 650.517.1300         October 31, 2015   E Randolph Wootton III      Dear  Randy:      On behalf of Rocket Fuel Inc. (“Rocket Fuel” or the “Company”), I am pleased to offer you   the position of Chief Executive Officer (“CEO”) of Rocket Fuel. You will report directly to   the Board of Directors (“Board”) and serve at the Board’s discretion.  You will work   primarily from the Company’s headquarters in Redwood City, California.  It is our intention   to appoint you to the Board at the earliest practicable and appropriate time, as determined by   the Board, following your first day of employment by Rocket Fuel, and subject to any   required Board and/or stockholder approval.  Your appointments and the compensation and   benefits package outlined in this offer letter (“Offer Letter”) are subject to approval by the   Board or its designated committee.      Cash Compensation and Benefits      Your starting base salary will be $430,000 and will be paid in accordance with Rocket Fuel’s   normal payroll procedures. In addition, you will be eligible for a bonus of 100% of your base   salary pursuant to Rocket Fuel’s Executive Incentive Compensation Plan (“Bonus Plan”),   based on goals set by the Board or its designated committee, and subject to your continued   employment through the date the bonus is earned pursuant to the terms of the Bonus Plan.   This bonus is not part of your base compensation and the Board or its designated committee   reserves the right to adjust the bonus terms and amounts at any time pursuant to the Bonus   Plan.  Incentive compensation, including bonuses paid pursuant to the Bonus Plan, will be   subject to any Company recoupment or clawback policy that may be established and/or   amended from time to time, and you may be required to forfeit, return and/or reimburse the   Company for all or a portion of such incentive compensation in accordance with such   recoupment or clawback policy and/or as necessary or appropriate to comply with applicable   law.  You will be eligible to participate in the Bonus Plan on a pro-rated basis (coextensive   with your period of employment) for the second half of the 2015 fiscal year, subject to your   continued employment through the date the bonus is earned pursuant to the terms of the   Bonus Plan.      All amounts payable under this Offer Letter will be paid subject to applicable tax   withholdings.   DocuSign Envelope ID: 5D8A6CF9-F250-48CD-BE0E-74A976C1293C    

 

E. Randolph Woottton, III   October 31, 2015   Page 2 of 5         You will also be eligible to participate in Rocket Fuel’s complete package of employee   benefits that are generally made available to all of Rocket Fuel’s full-time employees, subject   to the terms, conditions and eligibility requirements of such benefits. Details about these   benefit plans will be made available for your review. You should note that Rocket Fuel may   modify or terminate benefits from time to time, as it deems necessary or appropriate.      You will be expected to travel in connection with your employment. Rocket Fuel will   reimburse you for reasonable business expenses incurred in connection with your   employment, upon presentation of appropriate documentation and in accordance with the   Company’s expense reimbursement policies.      Equity Awards      Additionally, following your first day of employment in the position of CEO, and subject to   your continued employment with the Company on the date of grant, it will be recommended   to the Board or its designated committee, that you be granted the following equity awards, as   approved by either the Company's independent compensation committee or a majority of the   Company's independent directors (together, the “Equity Awards”):  (i) a stock option to   purchase 500,000 shares of Rocket Fuel’s common stock (the “Option Award”) at a price per   share equal to the fair market value per share of Rocket Fuel’s common stock on the date of   grant, as determined in accordance with the Rocket Fuel equity plan under which it is   granted, and (ii) an award of 250,000 restricted stock units (the “RSU Award”).  We will   recommend to the Board or its designated committee that the Equity Awards be scheduled to   vest in accordance with the four-year vesting schedule typically applied to employee equity   awards of the applicable type, subject to your continued service to Rocket Fuel through each   applicable vesting date.  Your Equity Awards will be subject to (a) the terms and conditions of   the Rocket Fuel equity plan under which they are granted, (b) the terms and conditions,   including vesting schedule, of an option award agreement and RSU award agreement that   will be provided to you as soon as practicable after the grant of the Equity Awards, and (c)   Rocket Fuel’s Management Retention Agreement, previously executed by you. If the Board   establishes stock ownership requirements for officers, you recognize that you will be subject   to those requirements as CEO.      Severance Benefits      If you have a qualifying termination of employment, you will be entitled to certain payments   and benefits in such amounts and pursuant to such terms and conditions as set forth in the   Management Retention Agreement previously entered into between you and the Company   and attached hereto as Exhibit A.       DocuSign Envelope ID: 5D8A6CF9-F250-48CD-BE0E-74A976C1293C    

 

E. Randolph Woottton, III   October 31, 2015   Page 3 of 5      Additional Terms      As a Rocket Fuel employee, you will continue to be expected to abide by Rocket Fuel   policies, rules and regulations and continue to comply with Rocket Fuel’s At-Will   Employment, Confidential Information, Invention Assignment, and Arbitration Agreement   (the “Proprietary Information and Inventions Agreement”), that, among other things, prohibits   the unauthorized use or disclosure of Rocket Fuel proprietary information.       We also ask that, if you have not already done so, you disclose to Rocket Fuel any and all   agreements relating to your prior employment that may affect your employment by Rocket   Fuel or limit the manner in which you may be employed. It is Rocket Fuel’s understanding   that any such agreements will not prevent you from performing the duties of your position   and you represent that such is the case.      In addition, you agree that, during the term of your employment with Rocket Fuel, you will   not engage in any other employment, occupation, consulting, or other business activity   directly related to the business in which Rocket Fuel is now involved or becomes involved   during the term of your employment, nor will you engage in any other activities that conflict   with your obligations to Rocket Fuel. Similarly, you reaffirm your agreement not to bring any   third-party confidential information to Rocket Fuel, including that of your former employer,   and that you will not in any way utilize any such information in performing your duties for   us.      By signing below, you agree that your employment with Rocket Fuel is an employment “at   will.” Employment “at will” means either party may terminate the relationship at any time for   any reason whatsoever, with or without cause or advance notice.  Upon your termination of   employment as CEO for any reason, unless otherwise requested by the Board, you will be   deemed to have resigned from the Board, if you are serving on the Board at that time (and all   other positions held at the Company and its affiliates) voluntarily, without any further   required action by you, as of the end of your employment as CEO and, at the Board’s request,   you will promptly execute any documents necessary to reflect your resignation(s).        This Offer Letter will be governed by the laws of the State of California, without reference to   rules relating to conflicts of law or choice of law. This Offer Letter, together with the   Proprietary Information and Inventions Agreement, and the Management Retention   Agreement, is the entire agreement between you and Rocket Fuel with respect to your   employment and supersedes any other agreements or promises made to you by anyone,   whether oral or written, including the prior offer letter dated January 20, 2015 for the position   of Chief Revenue Officer. This Offer Letter may not be modified except in writing between   you and another authorized officer of Rocket Fuel or an authorized member of the Board.      DocuSign Envelope ID: 5D8A6CF9-F250-48CD-BE0E-74A976C1293C    

 

E. Randolph Woottton, III   October 31, 2015   Page 4 of 5      Please sign and date this Offer Letter and return one copy to Rocket Fuel by November 2,   2015, if you wish to accept employment under the terms described above.   If you accept our   offer, the first day of your employment will begin on November 2, 2015. This offer of   employment will terminate if it is not accepted, signed and returned to me by November 2,   2015.      We welcome you to the Rocket Fuel team and look forward to your contribution to Rocket   Fuel’s success. If you have any questions regarding this Offer Letter, feel free to contact me   at any time.       Sincerely,      Jennifer Trzepacz   SVP, Employee Success         AGREED TO AND ACCEPTED:      Signature:     Printed Name:  E. Randolph Wootton, III   Date:    DocuSign Envelope ID: 5D8A6CF9-F250-48CD-BE0E-74A976C1293C   11/1/2015     

 

   Exhibit A      Management Retention Agreement                                                                           DocuSign Envelope ID: 5D8A6CF9-F250-48CD-BE0E-74A976C1293C

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