Document:

Exhibit 10.2

 

 EXHIBIT 10.2

 

 

 

 

 

 TRADEMARK  LICENSING  AGREEMENT
 
 
 This Trademark Licensing Agreement (the "Agreement") is made and entered into effective as of June 30, 2016 (the "Effective Date") by and between Trans-Lux Corporation, (the "Licensor"), and Trans-Tech (the "Licensee").
  
 Recitals. WHEREAS, Licensor has adopted, has registered with the United States Patent and Trademark Office and the trademark offices of various foreign countries, and is using the trademark ("Trademark") throughout the world; and
  
 WHEREAS, Licensee desires to use the Trademark; and
  
 WHEREAS, Licensor, subject to the terms and conditions set forth in this Agreement, is willing to permit Licensee to use the Trademark for the mutual benefit of Licensor and Licensee.
  
 NOW, THEREFORE, in consideration of the above premises, the mutual covenants set forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
  
 1. License
  
 Scope of License. Subject to the terms and conditions set forth in this Agreement, Licensor grants to Licensee a non-exclusive, non-transferable license to use the Trademark.
  
 Non-Assignment. Licensee acknowledges and agrees that the rights granted to Licensee by and obtained by Licensee as a result of or in connection with this Agreement are license rights only, and nothing contained in this Agreement constitutes or shall be construed to be an assignment of any or all of Licensor's rights in the Trademark. Licensor prior to implementation of such alteration, modification, or change.
  
 2. Use of Trademark.

 
1  

   
Trademark Format. Licensor retains the right to specify, from time to time, the format in which Licensee shall use and display the Trademark, and Licensee shall only use or display the Trademark in a format approved by Licensor.
  
 Proper Notice and Acknowledgment. Every use of the Trademark by Licensee shall incorporate in an appropriate manner an "R" enclosed by a circle or the phrase "Reg. U.S. Pat. & Tm Off.".
  
 Impairment  of Licensor's Rights. Licensee shall not at any time, whether during or after the term of this Agreement, do or cause to be done any act or thing challenging, contesting, impairing, invalidating, or tending to impair or invalidate any of Licensor's rights in the Trademark or any registrations derived from such rights.
  
 Licensor's Rights and Remedies.  Licensee acknowledges and agrees that Licensor has, shall retain, and may exercise, both during the term of this Agreement and thereafter, all rights and remedies. available to Licensor, whether derived from this Agreement, from statute, or otherwise, as a result of or in connection with Licensee's breach of this Agreement, misuse of the Trademark, or any other use of the Trademark by Licensee which is not expressly permitted by this Agreement.
  
 3. Term and Termination.
  
 Term. The term of this Agreement shall be for one years from the Effective Date; provided, however, that either party may terminate this Agreement, with or without cause, by delivering written notice of termination to the other party, and, unless a later date is specified in such notice, termination shall be effective five days after the date such notice is given.
  
 Termination for Cause. Notwithstanding the provisions of Section 4.1 of this Agreement, this Agreement and all rights granted hereby, including but not limited to Licensee's right to use the Trademark, shall automatically terminate without notice from Licensor if (i) Licensee attempts to assign, sub-license, transfer or otherwise convey, without first obtaining Licensor's written consent, any of the rights granted to Licensee by or in connection with this Agreement; (ii) Licensee fails to obtain Licensor's approval of Licensee's use of the Trademark in accordance with Section 2 of this Agreement; (iii) Licensee uses the Trademark in a manner in violation of, or otherwise inconsistent with, the restrictions imposed by or in connection with Section 3 of this Agreement; or (iv) Licensee uses the Trademark in a manner not expressly permitted by this Agreement.

 

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Effect of Termination. All rights granted by this Agreement, including, without limitation, Licensee's right to use the Trademark, shall expire upon termination of this Agreement, and upon termination Licensee shall immediately cease and desist from all further use of the Trademark.
  
 4. Payment
  
 Licensee shall pay the Licensor $72,500 upon signing this agreement. This fee shall be fully earned by the Licensor immediately. During the term of the agreement, the licensee shall pay Licensor a 3% Royalty fee based on the total revenue earned by the licensee on equipment sold using the Licensee's Tradmarks
  
 5. Miscellaneous.
  
 Assignment. Licensee shall not assign, sublicense, transfer, or otherwise convey Licensee's rights or obligations under this Agreement without Licensor's prior written consent. Licensee shall indemnify and hold harmless Licensor against all liability, costs, and expenses, including but not limited to a reasonable attorneys' fee, arising out of or in connection with claims relating to an attempted assignment, sublicense, transfer, or other conveyance of Licensee's rights and obligations.
  
 Entire Agreement. This Agreement supersedes all previous agreements, understandings, and arrangements between the parties, whether oral or written, and constitutes the entire agreement between the parties.
  
 Amendments. This Agreement may not be modified, amended, altered, or supplemented except by an agreement in writing executed by the parties hereto.
  
 Waivers. The waiver by either party of a breach or other violation of any provision of this Agreement shall not operate as, or be oonstrued to be, a waiver ofany  subsequent breach of the same or other provision of this Agreement.
  
 Notice. Unless otherwise provided herein, any notice, demand, or communication required, permitted, or desired to be given hereunder shall be in writing and shall be delivered by hand, by telex or telecopy, by facsimile, or by registered or prepaid certified mail through the United States postal service, return receipt requested.
 

 

 

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Counterparts.  This Agreement may be executed in several counterparts, each of which shall be an original, but all of which together shall constitute one and the same Agreement.
  
 Articles and Other Headings.  The articles and other headings contained in this Agreement are for reference purposes only, and shall not affect in any way the meaning or interpretation of the terms of this Agreement.
  
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the date first set forth above.
 
 
 

 
 	Trans-Lux Corporation	 	 	
	/s/ Jean-Marc L. Allain	 	 	 
	Jean-Marc L. Allain	 	 	
	 CEO
	 	 	 
	  	 	 	
	Trans-Tech LED Co. Ltd.	 	 	 
	/s/ Stone Shi	 	 	
	Stone Shi	 	 	 
	CEO	 	 	

  
 

 

 

 

 

 
 
 

 

 4FORM OF RESTRICTED STOCK AWARD AGREEMENT

 

PURSUANT TO THE

 

EMPLOYEE AND DIRECTOR

 

INCENTIVE RESTRICTED SHARE PLAN OF 

 

REALTY FINANCE TRUST, INC.

 

THIS AGREEMENT (this
“Agreement”) is made as of [   ] (the “Grant Date”), by and between Realty Finance Trust, Inc.,
a Maryland corporation with its principal office at 405 Park Avenue, New York, New York 10022 (the “Company”),
and [   ] (the “Participant”).

 

WHEREAS, the Board of
Directors of the Company (the “Board”) adopted the Employee and Director Incentive Restricted Share Plan of
Realty Finance Trust, Inc. (approved by the Board on February 7, 2013, as may be amended from time to time, the “Plan”);

 

WHEREAS, the Plan provides
that the Company, through the Board, has the ability to grant awards of restricted shares to directors, officers, employees of
entities that provide services to the Company, directors of entities that provide services to the Company and certain consultants
or entities that provide services to the Company;

 

WHEREAS, the independent
directors of the Board authorized, and the Company issued, shares of restricted stock to non-executive directors and independent
directors of the Company in respect of [   ] director compensation, as previously approved by the Board on [   ];

 

WHEREAS, subject to the
terms and conditions of this Agreement and the Plan, the Board has determined that Participant, in respect of his or her [   ] director
compensation, shall be awarded Restricted Shares in the amount set forth below.

 

NOW, THEREFORE, the Company and the Participant
agree as follows:

 

1.           Sale of Shares. Subject
to the terms, conditions and restrictions of the Plan and this Agreement, the Company hereby awards to the Participant [   ]
restricted shares of common stock of the Company (the “Restricted Shares”) issued by the Company at a grant
price of $[   ] per share and the Participant is receiving the Restricted Shares on the same terms as were approved by the independent
directors of the Board on [   ]; and, accordingly, the Participant shall be entitled to all rights of a holder of shares of common
stock of the Company set forth in Section 3 hereof as of the Grant Date. To the extent required by Applicable Law, the Participant
shall pay the Company the par value ($0.01) for each Restricted Share awarded to the Participant simultaneously with the execution
of this Agreement in cash or cash equivalents payable to the order of the Company. Pursuant to the Plan and Section 2 of
this Agreement, the Restricted Shares are subject to certain restrictions, which restrictions shall expire in accordance with the
provisions of the Plan and Section 2 hereof.

 

     

     

    

 

2.           Vesting.
Subject to the terms of the Plan and this Agreement, the Restricted Shares shall vest as follows:

 

(a)           the Restricted
Shares shall vest (i) twenty percent (20%) on the first anniversary of [   ] (the “Vesting Date”), (ii) twenty
percent (20%) on the second anniversary of the Vesting Date, (iii) twenty percent (20%) on the third anniversary of the Vesting
Date, (iv) twenty percent (20%) on the fourth anniversary of the Vesting Date and (v) twenty percent (20%) on the fifth anniversary
of the Vesting Date; provided, in each case, that the Participant has not incurred a termination of his or her position
as a director prior to such date.

 

(b)           One hundred percent
(100%) of any unvested Restricted Shares shall automatically vest upon the occurrence of an Acceleration Event (as defined below).
For purposes of this Agreement, an “Acceleration Event” shall mean the first to occur of any of the following:
(i) a Change in Control (as defined below); or (ii) the Participant incurs a termination of his or her position as a director of
the Company that is a Without Cause Termination (as such term is defined below); provided, that, in the case of the Acceleration
Events described in clause (i) above, the Participant has not occurred the termination described in clause (ii) above.

 

(c)           (i) As a result
of the Participant’s voluntary resignation or (ii) if the Participant fails to be re-elected to the Board following his or
her nomination by the Board for re-election, any unvested Restricted Shares that are due to vest in the year in which the Participant
voluntarily resigns or fails to be re-elected to the Board, as applicable, shall automatically vest. Any unvested Restricted Shares
due to vest in years subsequent to the year in which the Participant voluntarily resigns or fails to be re-elected to the Board,
as applicable, shall be forfeited in accordance with Section 3 below.

 

(d)           For purposes
of this Agreement, “Change in Control” means: (i) any “person” as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company,
any trustee or other fiduciary holding securities under any employee benefit plan of the Company or any corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company),
is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing 50.1% or more of the combined voting power of the Company’s then outstanding voting
securities; (ii) the stockholders of the Company approve a merger or consolidation of the Company with any other entity or approve
the issuance of voting securities in connection with a merger or consolidation of the Company (or any direct or indirect subsidiary
thereof) pursuant to applicable exchange requirements, other than (A) a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving or parent entity) at least 50.1% of the combined voting power of the voting
securities of the Company or such surviving or parent entity outstanding immediately after such merger or consolidation or (B)
a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no “person”
(as defined above) is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing 50% or
more of either of the then outstanding shares of Common Stock or the combined voting power of the Company’s then outstanding
voting securities; or (iii) the consummation of the sale or disposition by the Company of all or substantially all of the Company’s
assets (or any transaction or series of transactions within a period of twelve (12) months ending on the date of the last sale
or disposition having a similar effect).

 

    	 	2	 

     

    

 

(e)           For purposes
of this Agreement, (i) a “Without Cause Termination” shall mean a termination of the Participant’s directorship
other than for Cause (as defined below) or as a result of the Participant’s death or disability; and (ii) “Cause”
shall mean (x) the Participant’s willful misconduct or gross negligence in the performance of his or her duties as a director
of the Company that is not cured by the Participant within thirty (30) days after his or her receipt of written notice from the
Company or an affiliate thereof (as applicable) or (y) the Participant’s conviction of, or plea of guilty or nolo contendere
to, a crime relating to the Company or any affiliate thereof or any felony.

 

(f)           There shall be
no proportionate or partial vesting in the periods prior to the applicable vesting dates.

 

3.           Forfeiture.
If a Participant incurs a termination of his or her directorship for any reason other than a Without Cause Termination, the Participant
shall automatically forfeit any unvested Restricted Shares and the Company shall acquire such unvested Restricted Shares for the
amount paid by the Participant for such Restricted Shares (or, if no amount was paid by the Participant for such Restricted Shares,
then the Company shall acquire such Restricted Shares for no consideration).

 

4.           Rights as
a Holder of Restricted Shares. From and after the Grant Date, the Participant shall have, with respect to the Restricted
Shares, all of the rights of a holder of shares of common stock of the Company, including, without limitation, the right to vote
the shares, to receive and retain all regular cash dividends payable to holders of shares of record on and after the Grant Date
(although such dividends will be treated, to the extent required by applicable law, as additional compensation for tax purposes),
and to exercise all other rights, powers and privileges of a holder of shares with respect to the Restricted Shares; provided,
that, to the extent the Company issues a dividend in the form of shares or other property, such shares or other property shall
be subject to the same restrictions that are then applicable to the Restricted Shares under the Plan and this Agreement and such
restrictions shall expire at the same time as the restrictions on the Restricted Shares expire. Participant shall not be required
to repay any dividends received with respect to Restricted Shares that are subsequently forfeited prior to vesting.

 

5.           Taxes; Section
83(b) Election. The Participant acknowledges that (i) no later than the date on which any Restricted Shares shall have
become vested, the Participant shall pay to the Service Provider, or make arrangements satisfactory to the Service Provider regarding
payment of, any Federal, state or local or other taxes of any kind required by law to be withheld with respect to any Restricted
Shares which shall have become so vested; (ii) the Service Provider shall, to the extent permitted by law, have the right to deduct
from any payment of any kind otherwise due to the Participant any Federal, state or local or other taxes of any kind required by
law to be withheld with respect to any Restricted Shares which shall have become so vested, including that the Service Provider
may, but shall not be required to, sell a number of Restricted Shares sufficient to cover applicable withholding taxes; and (iii)
in the event that the Participant does not satisfy (i) above on a timely basis, the Service Provider may, but shall not be required
to, pay such required withholding and, to the extent permitted by Applicable Law, treat such amount as a demand loan to the Participant
at the maximum rate permitted by law, with such loan, at the Service Provider’s sole discretion and provided the Service
Provider so notifies the Participant within thirty (30) days of the making of the loan, secured by the Restricted Shares and any
failure by the Participant to pay the loan upon demand shall entitle the Service Provider to all of the rights at law of a creditor
secured by the Restricted Shares. The Service Provider may hold as security any certificates representing any Restricted Shares
and, upon demand of the Service Provider, the Participant shall deliver to the Service Provider any certificates in his or her
possession representing the Restricted Shares together with a stock power duly endorsed in blank. The Participant also acknowledges
that it is his or her sole responsibility, and not the Company’s or the Service Provider’s, to file timely and properly
any election under Section 83(b) of the Code, and any corresponding provisions of state tax laws, if the Participant wishes
to utilize such election.

 

    	 	3	 

     

    

 

6.           No Obligation
to Continue Directorship. Neither the execution of this Agreement nor the issuance of the Restricted Shares hereunder constitute
an agreement by the Company to continue to engage the Participant as a director during the entire, or any portion of, the term
of this Agreement, including but not limited to any period during which any Restricted Shares are outstanding.

 

7.           Legend.
In the event that a certificate evidencing the Restricted Shares is issued, the certificate representing the Restricted Shares
shall have endorsed thereon the following legends:

 

(a)           “THE ANTICIPATION,
ALIENATION, ATTACHMENT, SALE, TRANSFER, ASSIGNMENT, PLEDGE, ENCUMBRANCE OR CHARGE OF THE SHARES OF STOCK REPRESENTED HEREBY ARE
SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF EMPLOYEE AND DIRECTOR INCENTIVE RESTRICTED SHARE PLAN OF REALTY FINANCE
TRUST, INC. (THE “COMPANY”) (approved by the Board on February 7, 2013)
(AS SUCH PLAN MAY BE AMENDED FROM TIME TO TIME, THE “PLAN”) AND AN AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER
AND THE COMPANY DATED AS OF [   ]. COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY.”

 

(b)           Any legend required
to be placed thereon by applicable blue sky laws of any state. Notwithstanding the foregoing, in no event shall the Company be
obligated to issue a certificate representing the Restricted Shares prior to vesting as set forth in Section 2 hereof.

 

8.           Power of
Attorney. The Company, its successors and assigns, is hereby appointed the attorney-in-fact, with full power of substitution,
of the Participant for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instruments
which such attorney-in-fact may deem necessary or advisable to accomplish the purposes hereof, which appointment as attorney-in-fact
is irrevocable and coupled with an interest. The Company, as attorney-in-fact for the Participant, may in the name and stead of
the Participant, make and execute all conveyances, assignments and transfers of the Restricted Shares provided for herein, and
the Participant hereby ratifies and confirms that which the Company, as said attorney-in-fact, shall do by virtue hereof. Nevertheless,
the Participant shall, if so requested by the Company, execute and deliver to the Company all such instruments as may, in the judgment
of the Company, be advisable for this purpose.

 

    	 	4	 

     

    

 

9.           Miscellaneous.

 

(a)           This Agreement
shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal legal representatives,
successors, trustees, administrators, distributees, devisees and legatees. The Company may assign to, and require, any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company to expressly assume and agree in writing to perform this Agreement. Notwithstanding the foregoing, the Participant
may not assign this Agreement or any of the Participant’s rights, interests or obligations hereunder. 

 

(b)           This award of
Restricted Shares shall not affect in any way the right or power of the Board or stockholders of the Company to make or authorize
an adjustment, recapitalization or other change in the capital structure or the business of the Company, any merger or consolidation
of the Company or subsidiaries, any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Restricted
Shares, the dissolution or liquidation of the Company, any sale or transfer of all or part of its assets or business or any other
corporate act or proceeding.

 

(c)           The Participant
agrees that the award of the Restricted Shares hereunder is special incentive compensation and that it, any dividends paid thereon
(even if treated as compensation for tax purposes) will not be taken into account as “salary” or “compensation”
or “bonus” in determining the amount of any payment under any pension, retirement or profit-sharing plan of the Service
Provider or any life insurance, disability or other benefit plan of the Service Provider.

 

(d)           No modification
or waiver of any of the provisions of this Agreement shall be effective unless in writing and signed by the party against whom
it is sought to be enforced.

 

(e)           This Agreement
may be executed in one or more counterparts, all of which taken together shall constitute one contract.

 

(f)           The failure of
any party hereto at any time to require performance by another party of any provision of this Agreement shall not affect the right
of such party to require performance of that provision, and any waiver by any party of any breach of any provision of this Agreement
shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself,
or a waiver of any right under this Agreement.

 

(g)           The headings
of the sections of this Agreement have been inserted for convenience of reference only and shall in no way restrict or modify any
of the terms or provisions hereof.

 

(h)           All notices,
consents, requests, approvals, instructions and other communications provided for herein shall be in writing and validly given
or made when delivered, or on the second succeeding business day after being mailed by registered or certified mail, whichever
is earlier, to the persons entitled or required to receive the same, at the addresses set forth at the heading of this Agreement
or to such other address as either party may designate by like notice. Notices to the Company shall be addressed to Realty Finance
Trust, Inc. at 405 Park Avenue, New York, New York 10022, Attn: Chief Financial Officer.

 

    	 	5	 

     

    

 

(i)           This Agreement
shall be construed, interpreted and governed and the legal relationships of the parties determined in accordance with the internal
laws of the State of Maryland without reference to rules relating to conflicts of law.

 

10.           Provisions
of Plan Control. This Agreement is subject to all the terms, conditions and provisions of the Plan, including, without
limitation, the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan as may be
adopted thereunder and as may be in effect from time to time. The Plan is incorporated herein by reference. A copy of the Plan
has been delivered to the Participant. If and to the extent that this Agreement conflicts or is inconsistent with the terms, conditions
and provisions of the Plan, the Plan shall control, and this Agreement shall be deemed to be modified accordingly. Unless otherwise
indicated, any capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan. This Agreement
contains the entire understanding of the parties with respect to the subject matter hereof (other than any other documents expressly
contemplated herein or in the Plan) and supersedes any prior agreements between the Company and the Participant.

 

[signature page(s) follow]

 

    	 	6	 

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be duly executed as of the day and year first above written.

 

	 	 	REALTY FINANCE TRUST, INC.	 
	 	 	 	 	 
	 	 	 	 	 
	   	 	By:	   	 
	   	 	Name:	   	 
	    	 	Title:	   	 
	 	 	 	 	 
	 	 	 	 	 
	Participant	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	(Signature)	 	 	 	 

 

    	 	7

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