Document:

PROMISSORY
NOTE

 

$325,000

March
14, 2016

Ukiah,
California

 

FOR
VALUE RECEIVED, MENDOCINO BREWING COMPANY, INC. (“Maker”), a California corporation, promises to pay to the order
of CATAMARAN SERVICES, INC. (“Holder”), a Delaware corporation, the principal sum of Three Hundred Twenty Five Thousand
Dollars ($325,000.00) (“Principal”), with interest as defined below.

 

Maker
promises to pay interest to Holder from the date of this Note on unpaid Principal owing from time to time at a rate equal to the
lesser of (i) one and one-half percent (1.50%) per annum above the prime rate offered from time to time by the Bank of America
Corporation in San Francisco, California, or (ii) ten percent (10%) per annum, until the Principal is fully paid.

 

Maker
shall make payments in lawful money of the United States of America and in immediately available funds. Computations of interest
shall be based on a year of 365 days but shall be calculated for the actual number of days in the period for which interest is
charged.

 

All
payments under this Note shall be made to Holder as directed by the Holder in writing.

 

This
Note may be prepaid in whole or in part, without penalty, at the option of Maker and without the consent of Holder. All payments
shall be applied first to accrued and unpaid interest, and then to the principal balance outstanding.

 

All
payments made pursuant to this Note are expressly subject to the following conditions:

 

	 	a)	No portion
    of Principal or interest on this Note will be payable or paid until either 1) the Obligation (as that term is defined in the
    Credit and Security Agreement dated as of June 23, 2011, as amended, modified, or supplemented from time to time, between
    Maker, Releta Brewing Company LLC, and Cole Taylor Bank) to Cole Taylor Bank, now known as MB Financial Bank, N.A. (“Bank”)
    has been paid and satisfied in full; or 2) the repayment is a Permitted Payment (as defined below).
	 	 	 
	 	b)	If Maker receives
    a bridge loan from its majority shareholder (the “Bridge Loan”), Maker may use that portion (and only that portion)
    of the Bridge Loan that is in excess of $600,000 (“Excess Contribution”) to make payment on this Note in an amount
    not greater than the amount of the Excess Contribution (“Permitted Payment”).

 

The
full payment of this Note, and accompanying interest, shall be due within six (6) months of the date of this Note, subject to
the Maker having received an Excess Contribution sufficient to pay the Note either through 1) Permitted Payments, or 2) a complete
satisfaction of both the Obligation to Bank and the Note. Should Maker not be able to satisfy this Note at the end of the original
six (6) month term, this Note shall be extended for additional six (6) month terms until such time as Maker receives such a Bridge
Loan sufficient to satisfy this Note.

 

    	 

    	 

    

 

PROMISSORY
NOTE

$325,000

March
14, 2016

 

Page
2

 

This
Note is unsecured, not subject to any guarantee by any third party, nor has Maker granted a security interest in any of its property
to Holder in relation to this Note.

 

Maker
waives presentment, protest, and demand, notice of protest, notice of demand, and dishonor, and notice of nonpayment of this Note.
Except for the right to demand and receive payments of the Permitted Payments, if any, Holder agrees to take no enforcement action
on this Note until the Obligation to Bank has been paid and satisfied in full. Maker expressly agrees that this Note or any payment
under this Note may be extended by Holder from time to time without in any way affecting the liability of Maker. Further, for
the benefit of Bank, until the Obligation to Bank has been paid and satisfied in full, this Note may not be amended or modified
without the prior written consent of Bank.

 

This
Note shall be governed by the laws of the State of California excluding its conflict of law rules.

 

The
prevailing party in any action (i) to collect payment on this Note, or (ii) in connection with any dispute that arises as to its
enforcement, validity, or interpretation, whether or not a legal action is instituted or prosecuted to judgment, shall be entitled
to all costs and expenses incurred, including attorneys’ fees.

 

If
any provision or any word, term, clause, or part of any provision of this Note shall be invalid for any reason, the same shall
be ineffective, but the remainder of this Note and of the provision shall not be affected and shall remain in full force and effect.

 

Except
as those terms and conditions concerning Bank or the Obligation, any of the terms or conditions of this Note may be waived by
Holder, but no such waiver shall affect or impair the rights of Holder to require observance, performance, or satisfaction, either
of that term or condition as it applies on a subsequent occasion or of any other term or condition of this Note.

 

IN
WITNESS WHEREOF, Maker, by its appropriate officers duly authorized, has executed this promissory note and affixed its corporate
seal on this on the day and year first written above.

 

	MAKER	 	ACCEPTED AND AGREED:
	 	 	 
	MENDOCINO BREWING COMPANY, INC.	 	CATAMARAN SERVICES, INC. 
	 	 	 
	By:	/s/
    Mahadevan Narayanan   	 	By:	/s/
    Rajwinder Kaur
	Chief
    Financial Officer	 	Secretary
	Mendocino
    Brewing Company, Inc.    	 	Catamaran
    Services, Inc.
	1601,
    Airport Toad	 	2711,
    Centerville Road, Suite 400
	Ukiah, CA 95482	 	Wilmington, DEExhibit 4.2

 

FIRST AMENDMENT

TO

AMENDED AND RESTATED AGREEMENT OF LIMITED
PARTNERSHIP

OF

AMERICAN REALTY CAPITAL GLOBAL II OPERATING
PARTNERSHIP, L.P.

 

THIS FIRST AMENDMENT TO AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP OF AMERICAN REALTY CAPITAL GLOBAL II OPERATING PARTNERSHIP, L.P. (this “Agreement”)
dated as of March 22, 2016, is entered into among AMERICAN REALTY CAPITAL GLOBAL TRUST II, INC., a Maryland corporation, as general
partner (the “General Partner”), American Realty Capital Global II Advisors, LLC, a Delaware limited liability
company, as initial limited partner (the “Initial Limited Partner”), AMERICAN REALTY CAPITAL GLOBAL II SPECIAL
LIMITED PARTNERSHIP, LLC, a Delaware limited liability company, as Special Limited Partner (the “Special Limited Partner”),
and the Limited Partners party hereto from time to time.

 

RECITALS

 

WHEREAS, the
General Partner, the Initial Limited Partner and the Special Limited entered into that certain Amended and Restated Agreement of
Limited Partnership, dated as of August 10, 2015 (the “Advisory Agreement”).

 

WHEREAS, the General Partner desires
to amend the Partnership Agreement to amend Section 16.1(a) of the Partnership Agreement relating to the issuance of the Class
B Units; and

 

WHEREAS, pursuant to Section 14.1(a)
of the Partnership Agreement, the General Partner has the power to amend Section 16.1(a) of the Partnership Agreement without the
consent of the Limited Partner or the Special Limited Partner.

 

NOW THEREFORE, in consideration of
the premises made hereunder, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto, intending to be legally bound, hereby agree as follows:

 

		1.	Effective as of January 1, 2016, Section 16.1(a) of the Partnership Agreement is hereby deleted in its entirety and the following
new Section 16.1(a) is substituted in its place:

 

16.1       Designation
and Number

 

(a)          A
series of Partnership Units in the Partnership, designated as the “Class B Units,” is hereby established. Except as
set forth in this Article 16, Class B Units shall have the same rights, privileges and preferences as the OP Units. Subject to
the provisions of this Article 16 and the special provisions of subparagraph 1(c)(ii) of Exhibit B, Class B Units shall
be treated as Partnership Units, with all of the rights, privileges and obligations attendant thereto. In connection with services
provided by the Advisor under the Advisory Agreement, the General Partner shall, within thirty (30) days after the end of each
period, cause the Partnership to issue the following number of Class B Units to the Advisor or any of its assignees in respect
of the following periods:

 

     

    	 

    

 

		(i)	For each Quarter prior to the January 1, 2016, a number of Class B Units equal to (i) the excess of (A) the product of (y)
the Cost of Assets multiplied by (z) 0.1875% over (B) any amounts payable as an Oversight Fee (as defined in the Management Agreement)
for such Quarter divided by (ii) the Value of one share of Common Stock as of the last day of such Quarter; provided, that if the
amounts payable as an Oversight Fee for such Quarter exceed the amount determined under clause (A) for such Quarter (an “Excess
Oversight Fee”), no Class B Units shall be issued for such Quarter and the Excess Oversight Fee shall be carried forward
to the next succeeding Quarter and included with and treated as amounts payable as an Oversight Fee for such Quarter for purposes
of determining the amount of Class B Units issuable for such Quarter; provided further, that the sum of (I) the amounts determined
under clause (i) for a calendar year plus (II) the amounts payable as an Oversight Fee for such calendar year, shall not be less
than 0.75% of the Cost of Assets for such calendar year; provided further, that each quarterly issuance of Class B Units shall
be subject to the approval of the General Partner’s board of directors.        

 

		(ii)	For each month following January 1, 2016, a number of Class B Units equal to the total number of Class B Units to be issued
pursuant to the Advisory Agreement in respect of such month; provided, that if the amounts payable as an Oversight Fee for such
month exceed the amount determined under clause (A) for such month (a “Monthly Excess Oversight Fee”), no Class B Units
shall be issued for such month and the Monthly Excess Oversight Fee shall be carried forward to the next succeeding month and included
with and treated as amounts payable as a Oversight Fee for such month for purposes of determining the amount of Class B Units issuable
for such month; provided further, that the sum of (I) the amounts determined under clause (i) for a calendar year plus (II) the
amounts payable as an Oversight Fee for such calendar year, shall not be less than 0.75% of the Cost of Assets for such calendar
year; provided further, that each quarterly issuance of Class B Units shall be subject to the approval of the General Partner’s
board of directors.”

 

[SIGNATURE PAGE FOLLOWS]

 

     

    	 

    

 

IN WITNESS WHEREOF,
the undersigned, intending to be legally bound hereby, have duly executed this Agreement as of the date and year first aforesaid.

 

	 	GENERAL PARTNER:
	 	 
	 	AMERICAN REALTY CAPITAL GLOBAL TRUST II, INC.
	 	 
	 	By:	/s/ Scott J. Bowman
	 	 
	 	Name:  Scott J. Bowman
	 	Title:  Chief Executive Officer and President

 

[Signature Page to First Amendment to Agreement of Limited Partnership]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]