Document:

Unassociated Document

 

EXHIBIT 4.1 

 

BIG THREE RESTAURANTS, INC. 

2012 EMPLOYEE AND CONSULTANT STOCK COMPENSATION PLAN

 

1.   Purpose . The purpose of this 2012 Employee and Consultant Stock Plan (“Plan”) is to provide compensation in the form of common stock (“Common Stock”), $.01 par value, of Big Three Restaurants, Inc. (the “Company”) to employees and “eligible consultants” (as defined in Section 3 hereof) who have previously rendered services to the Company or who will render services to the Company in the future.

 

2.   Administration . (a) This Plan shall be administered by the Board of Directors of the Company who may from time to time (i) issue orders or adopt resolutions not inconsistent with the provisions of this Plan and (ii) interpret the provisions and supervise the administration of the Plan. The Chief Executive Officer of the Company shall make initial determinations as to which employees and “eligible consultants” (including professionals and advisors) will be considered to receive shares of Common Stock under the Plan and on what terms and conditions. The Chief Executive Officer of the Company will provide a list of such individuals to the Board of Directors. All final determinations under the Plan shall be made by the affirmative vote of a majority of the members of the Board of Directors at a meeting called for such purpose, or reduced to writing and signed by a majority of the members of the Board of Directors. Subject to the Company’s Bylaws, all decisions by the Board of Directors in selecting employees and “eligible consultants,” establishing the number of shares and construing the provisions of this Plan shall be final, conclusive and binding on all persons, including the Company, shareholders, employees and “eligible consultants.”

 

3.   Eligible Consultants . The Company may engage “advisors” and/or “consultants,” who may participate in this Plan in the future, as long as such “advisors” and/or “consultants” fit the definition of “employee” included the General Instructions to Securities and Exchange Commission (“SEC”) Form S-8, which define the term “employee” to include any employee, director, general partner, officer, consultant or advisor.  Such General Instructions impose three essential limitations on “consultants” and “advisors” eligible for participation in a plan covered by SEC Form S-8. Therefore, in order for a “consultant” or “advisor” to the Company to be an “eligible consultant” under this Plan and to be eligible to receive shares of Common Stock under this Plan and pursuant to a Form S-8 filed by the Company with the SEC, such “consultant” and/or “advisor” (i) must be a natural person; (ii) must provide bona fide services to the Company; and (iii) the services rendered by such “consultant” or “advisor” may not be in connection with

 

 

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the offer or sale of securities in a capital-raising transaction and may not directly or indirectly promote or maintain a market for the Company’s securities.

 

4.   Shares Subject to the Plan . The total number of shares of Common Stock subject to this Plan is as follows: 5,000,000 shares of Common Stock, par value $.01, to be awarded to employees and eligible consultants as provided herein and as the Board of Directors may determine.

 

5.   Investment Intent . Unless and until the sale and issuance of Common Stock subject to the Plan are registered under the Securities Act of 1933, as amended (“Securities Act”). or shall be exempt from registration pursuant to the rules promulgated thereunder, each grant of Common Stock under the Plan shall provide that the acquisitions of Common Stock hereunder shall be for investment purposes and not with a view to, or for resale in connection with, any distribution thereof.  Further, unless the issuance and sale of the Common Stock has been registered under the Securities Act, each grant of Common Stock shall provide that no shares shall be sold unless and until (i) all then applicable requirements of state and federal laws and regulatory agencies shall have been fully complied with to the satisfaction of the Company and its counsel; and (ii) if requested to do so by the Company, the person who is to receive a grant of Common Stock pursuant to the Plan shall have executed and delivered to the Company a letter of investment intent and/or such other form related to applicable exemptions from registration, all in such form and substance as the Company may require.

 

6.   Stock Splits, Stock Dividends, Combinations or Reclassifications . In the event of any change in the outstanding stock of the Company by reason of a stock split, stock dividend, combination or reclassification of shares, recapitalization, merger or similar event (“Adjusting Event”), the Board of Directors may adjust proportionally (a) the number of shares of Common Stock reserved under the Plan, which have not been granted as of the effective date of such Adjusting Event.

 

7.   Withholding . The Company shall have the right to deduct from any grant of Common Stock an appropriate number of shares for payment of taxes by law or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. If Common Stock is used to satisfy tax withholding, such stock shall be valued in good faith by the Board of Directors, who may use reported trading data from the principal exchange or trading platform upon which the Company’s stock is traded for such period of time as the Board of Directors may determine in compliance with applicable law.

 

8.   Governing Law . The Plan and all determinations made and action taken pursuant hereto, to the extent not otherwise governed by the securities laws of the United States or State of Florida, shall be governed by the law of the State of Florida and construed accordingly.

 

 

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9.   Termination of the Plan . This Plan shall terminate upon the issuance of all shares available under the Plan or when it is otherwise terminated by the Board of Directors.

 

10.   Effective Date of the Plan. This Plan shall become effective upon its adoption by the Board of Directors.

 

 

Page 3 of 3PediatRx Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

PROMISSORY NOTE AMENDMENT

     This Promissory Note Amendment
(this “Amendment”) is made and entered into as of the 25th day of July, 2012
(the “Amendment Date”), by and between Benjamin Company S.A. with principal
offices located at Saffrey Square, Nassau Bahamas, (“Noteholder”) and PediatRx
Inc., with principal offices located at 90 Fairmount Road West, Califon, NJ,
07830 USA (“Company”).

RECITALS

     WHEREAS, the Noteholder is the
holder of a Promissory Note (the “Note”) dated July 26, 2010 in the principal
amount of $200,000 (attached as Exhibit A) between the Noteholder and the
Company which Note, as previously amended has a maturity date of July 26, 2012
(the “Maturity Date”) and bears interest at the rate of FIVE PERCENT (5%) PER
ANNUM (the “Interest Rate”).

     WHEREAS, the Noteholder desires
to extend the Maturity Date of the Note for to December 31, 2012 and also
desires that the Interest Rate be increased to TWELVE PERCENT (12%) PER
ANNUM.

     WHEREAS, the Company desires to
extend the Maturity Date of the Note to December 31, 2012 and also desires to
increase the Interest Rate to TWELVE PERCENT (12%) PER ANNUM.

     NOW, THEREFORE, in consideration
of the premises and the mutual covenants and promises contained in this
Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

	1.1 	
      Effective on the Amendment Date, the maturity date of the
      Note shall become December 31, 2012 and the Interest Rate shall become
      TWELVE PERCENT (12%) PER ANNUM, such rate to be applied from the Amendment
      Date forward.

	 	 
	1.2 	
      Except as expressly amended by this Amendment, the
      parties hereto acknowledge that the Note is in good standing as at the
      date of this Amendment.

IN WITNESS WHEREOF, this Agreement has been executed by the
Parties hereto all as of the date first above written.

	PediatRx Inc. 	 	Benjamin Company S.A 
	 	 	 	 	 
	By: 	 	 	By: 	 
	 	 	 	 	 
	Name: 	 	 	Name: 	 
	 	 	 	 	 
	Title: 	 	 	Title: 	 

EXHIBIT A

THIS SECURITY WAS ISSUED IN AN OFFSHORE TRANSACTION TO A
PERSON WHO IS NOT A U.S. PERSON AS DEFINED IN REGULATION S PROMULGATED UNDER THE
UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"). ACCORDINGLY,
THIS PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE 1933 ACT OR ANY U.S.
STATE SECURITIES LAWS AND, UNLESS SO REGISTERED, IT MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS EXCEPT PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN
EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
HEDGING TRANSACTIONS INVOLVING THIS PROMISSORY NOTE MAY NOT BE CONDUCTED UNLESS
IN ACCORDANCE WITH THE 1933 ACT.

PROMISSORY NOTE

	US$200,000.00 	JULY 26, 2010 

FOR VALUE RECEIVED, the undersigned promises to pay to the
order of BENJAMIN COMPANY S.A. at its principal office located at
SAFFREY SQUARE, NASSAU, BAHAMAS, or at such other place as the holder of
this Note may from time to time designate, the principal sum of TWO HUNDRED
THOUSAND DOLLARS ($200,000.00) in lawful money of the United States of
America, together with interest thereon as herein provided; on JULY 26,
2011.

The principal amount or such portion thereof as shall remain
outstanding from time to time shall accrue simple interest, calculated monthly
in arrears, at a rate of FIVE PERCENT (5%) PER ANNUM commencing on the
date of this promissory note and payable at maturity.

If principal is not paid when due, the undersigned promises to
pay all costs of collection, including without limitation, legal fees, and all
expenses in connection with the protection or realization of the collateral
securing this promissory note, if any, or the enforcement of any guaranty hereof
incurred by the holder(s) hereof on account of such collection, whether or not
suit is filed hereon or thereon; such costs and expenses shall include, without
limitation, all costs, expenses and legal fees incurred by the holder(s) hereof
in connection with any insolvency, bankruptcy, arrangement or other similar
proceedings involving the undersigned, or involving any endorser or guarantor
hereof, which in any way affects the exercise by the holder(s) hereof of the
rights and remedies of such holder(s) under this promissory note.

The undersigned may prepay all or any portion of the principal
sum without prior notice to, or the consent of, the holder, at any time and from
time-to-time during the term of this Note provided that (i) the undersigned is
not in default hereunder at the time of prepayment, (ii) if the prepayment
occurs at any time prior to the first day of the sixth calendar month following
the date of this Note (the “Six Month Anniversary”), the undersigned shall pay,
in lieu of actual interest accrued, an amount equal to the interest that would
have accrued on the amount of the principal sum prepaid if the same had been
outstanding for six months; and (iii) if the prepayment occurs at any time after
the Six Month Anniversary, the undersigned shall pay all interest that has
actually accrued on the amount of the principal sum that is prepaid. 

Presentment, protest, notice of protest and notice of dishonour
are hereby waived.

STRIKER ENERGY CORP.

	By:

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