Document:

firstamendmenttormafully

81249120   FIRST AMENDMENT TO AMENDED AND RESTATED RESORT MANAGEMENT   AGREEMENT   FOR HARD ROCK HOTEL & CASINO, LAS VEGAS   This First Amendment to Amended and Restated Resort Management Agreement (this   “Amendment”) is made as of November 11, 2013 (the “Effective Date”), by and between HRHH   HOTEL/CASINO, LLC, a Delaware limited liability company (the “Resort Owner”), HRHH   DEVELOPMENT, LLC, a Delaware limited liability company (the “Adjacent Property Owner”),   HRHH IP, LLC, a Delaware limited liability company (the “IP Owner”), HRHH CAFÉ, LLC, a   Delaware limited liability company (the “Café Owner”), LVHR CASINO, LLC, a Nevada   limited liability company (the “Gaming Owner”, and together with the Resort Owner, the   Adjacent Property Owner, the IP Owner and the Café Owner, collectively, “Owner”), and WG-   HARMON, LLC, a Nevada limited liability company (“Manager”). Each of the Owner, and the   Manager, are sometimes referred to individually herein as a “Party”, and collectively herein as   the “Parties”.   RECITALS   A. Owner and Manager entered into that certain Amended and Restated Resort   Management Agreement dated as of June 15, 2012 (the “Resort Management Agreement”).   B. An Affiliate of Manager, along with a third party investment partner, plan to open   and brand a hotel and casino in Sioux City, Iowa (the "Sioux City Hotel") using the Marks.   C. Pursuant to Section 2.2.23 of the Resort Management Agreement, Manager has   agreed to provide certain assistance to Owner in connection with various sublicense   opportunities within the Morton Territories.   D. Because the Sioux City Hotel represents a sublicense opportunity within the   Morton Territories (the "Sioux City Sublicense Opportunity"), the Parties have identified certain   revisions to the provisions of the Resort Management Agreement required in order to clarify the   nature and extent of Manager's assistance and supervision with respect to the Sioux City   Sublicense Opportunity.   E. Owner and Manager desire to modify certain terms and provisions of the Resort   Management Agreement to reflect those clarifications, and have agreed to amend the Resort   Management Agreement to reflect such clarifications on the terms and conditions set forth in this   Amendment.   F. All capitalized terms used without definition in this Amendment shall have the   meanings assigned to such terms in the Resort Management Agreement.   AGREEMENT    

 

81249120   Now, therefore, for and in consideration of the mutual covenants and agreements   hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of   which are hereby acknowledged, Owner and Manager hereby agree that the Resort Management   Agreement shall be amended and modified as follows:   1. Oversight Over Sublicense Deals. The Parties desire to clarify that Manager shall also   assist in enforcing, maintaining, and supporting not only those existing sublicense deals and   projects, but also any future sublicense deals and projects. Accordingly, the last sentence of   Section 2.2.23 of the Resort Management Agreement is hereby amended by deleting the word   "existing".   2. Sioux City Sublicense Opportunity. Given that an Affiliate of Manager has an   ownership interest in the Sioux City Sublicense Opportunity, the Parties desire to establish   certain guidelines regarding the nature and extent of Manager's assistance with respect to the   Sioux City Sublicense Opportunity. Accordingly, the following provisions are added to the end   of Section 2.2.23 of the Resort Management Agreement:   "Notwithstanding the foregoing, the following shall be applicable with respect to the   hotel/casino in Sioux City, Iowa (the "Sioux City Property") covered by that certain   License Agreement by and between HRHH IP, LLC and SCE Partners, LLC (the "Sioux   City License Agreement") for so long as Manager is an Affiliate of the licensee under the   Sioux City License Agreement:   (a) Subject to item (b) below, Manager shall not be responsible for assisting   in enforcing or otherwise policing the Sioux City Property or the Sioux City License   Agreement;   (b) The enforcement, maintenance and supervision of the Sioux City License   Agreement shall be the responsibility of Owner, provided that Manager shall cooperate   with Owner and Owner's Representative in Owner's oversight of the Sioux City License   Agreement, including, without limitation, responding promptly to any reasonable   inquiries and providing Owner and Owner's Representative with any reasonably   requested information and materials regarding the Sioux City Property or the Sioux City   License Agreement that would be requested or provided in the ordinary course of the   oversight and supervision of the enforcement, maintenance and support of the sublicense   deals and projects; provided, however, that nothing contained in the foregoing shall   excuse or permit Manager's Affiliates (or any investment partners), in their capacity as   owner of the Sioux City Property, from otherwise operating and maintaining the Sioux   City Property in accordance with the Sioux City License Agreement, or timely   performing any of the obligations thereunder; and   (c) In connection with the Sioux City Property or the Sioux City License   Agreement, to the extent that any material conflict arises between Manager or its   Affiliate's interests or obligations thereunder and Manager's interests or obligations under   this Agreement, Manager shall promptly notify Owner, and the Parties shall work   together in good faith to mutually resolve any such conflicts."    

 

81249120   3. Application of Certain Provisions of Resort Management Agreement. In connection   with the Resort Management Agreement as modified by this Amendment, the Parties also hereby   acknowledge and agree to the following:   (a) Notwithstanding Section 16.1(a)(ii) of the Resort Management Agreement   to the contrary, there will be no cure period available to Manager with respect to its breach of   Section 2.2.23(b) (as such subsection (b) has been inserted into the Resort Management   Agreement pursuant to Section 2 of this Amendment); and   (b) Notwithstanding Section 16.1(a)(ii) of the Resort Management Agreement   to the contrary, the cure period available with respect to any breach by Manager of Section   2.2.23(c) (as such subsection (c) has been inserted into the Resort Management Agreement   pursuant to Section 2 of this Amendment) will be three (3) business days.   4. Termination of Sioux City License Agreement. Manager hereby acknowledges and   agrees that if: (i) HRHH IP, LLC ("Licensor") terminates that certain License Agreement (the   "Sioux City License Agreement") with SCE Partners, LLC ("Licensee") as a result of a Material   Default (as defined in the Sioux City License Agreement) by Licensee thereunder; (ii) Licensor   exercises its right to terminate the Sioux City License Agreement pursuant to Section 14.2.4   thereunder; (iii) either Licensor or Licensee terminates the Sioux City License Agreement   pursuant to Section 2.1.7 thereunder; or (iv) Manager takes any action (or fails to take any   action) in connection with the Sioux City License Agreement that violations the obligations of   Manager to Owner under Section 2.12 of the Resort Management Agreement, then, in each case,   Owner, in its sole and absolute discretion, may, in addition to any other rights or remedies   available to Owner, terminate the Resort Management Agreement.   5. Ratification. Owner and Manager ratify and confirm the continued force and effect of   the Resort Management Agreement, as modified by this Amendment. Owner and Manager agree   that all terms and provisions of the Resort Management Agreement shall be and remain in full   force and effect as therein written, except as otherwise expressly provided herein; provided,   however, Owner and Manager agree that nothing in this Amendment or in the Sioux City License   Agreement will be read to limit any rights granted to Owner pursuant to the Resort Management   Agreement, as amended and existing immediately prior to the date hereof, nor will it be read to   impose any greater obligations on Owner to resolve any breach or other issues that may arise   under the Resort Management Agreement than otherwise required by Owner under the Resort   Management Agreement, as amended and existing immediately prior to the date hereof.   6. Binding Effect. This Amendment shall be binding upon and inure to the benefit of the   Parties and their respective successors and assigns.   7. Counterparts. This Amendment may be executed in any number of counterparts, each   of which shall be deemed an original, and all of which taken together shall constitute one and the   same Amendment.   8. Effective Date. This Amendment shall be in full force and effect as a binding obligation   of the Parties from and after the date of this Amendment.   [signature page follows]ex_4-1.htm

COMMON STOCK PURCHASE WARRANT

 ULURU INC.

 

	
Warrant No.

	
2016 - [___]

	  	  	
Issue Date:

	  	
March [  ], 2016

	  	  	  	  	  	  	  
	
Warrant Shares:

	
[___]

	  	  	
Expiration Date:

	  	
March [  ], 2021

THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR ANY APPLICABLE STATE SECURITIES LAW, AND MAY NOT BE OFFERED, ASSIGNED, TRANSFERRED, PLEDGED, HYPOTHECATED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, AND SUCH REGISTRATION OR QUALIFICATION AS MAY BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE, OR AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION OR QUALIFICATION IS NOT REQUIRED.

1.           Grant.  For value received, ULURU Inc., a Nevada corporation (the “Corporation”), hereby grants to [_________________], a [_____________________]s (the “Holder”), at the exercise price set forth in Section 3 below, the right to purchase up to a maximum of [__________] (the “Warrant Shares”) of the Corporation’s Common Stock, $0.001 par value per share (the “Common Stock”), subject to adjustment from time to time as set forth herein.  This Warrant to Purchase Common Stock (“Warrant”) is issued pursuant to the Stock Purchase Agreement dated March 29, 2016 among the Corporation, the Holder and another party (the “Purchase Agreement”).

2.           Exercise Period.  This Warrant may be exercised at any time, and from time to time, in whole or in part, beginning on the date hereof and continuing until the five-year anniversary of the date hereof (the “Expiration Date”).

3.           Exercise Price.  The exercise price (“Exercise Price”) of this Warrant is $0.0871 per Warrant Share, subject to adjustment from time to time as set forth herein

 

4.           Adjustments.

 

(a)           Adjustment for Change in Common Stock.

 

(i)  If the Corporation (A) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock, (B) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of shares, or (C) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares (each, an “Adjustment Event”), the number of Warrant Shares issuable hereunder immediately prior to such Adjustment Event shall be proportionately adjusted so that the Holder will receive, upon exercise, the aggregate number and kind of shares of capital stock of the Corporation which it would have owned immediately following such Adjustment Event if the Holder had exercised this Warrant immediately prior to such Adjustment Event (and owned no shares of Common Stock other than Warrant Shares).  The Exercise Price shall also be proportionately adjusted such that the aggregate Exercise Price for all the Warrant Shares issuable hereunder remains unchanged following such Adjustment Event.

 

(ii)  The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification.

  

  

  

 

 

(iii)  The adjustment shall be made successively whenever any Adjustment Event occurs.

(b)           Adjustment for Reorganization.  If the Corporation consolidates or merges with or into another person or entity, or sells all or substantially all of its assets or stock or enters into any other similar transaction, liquidation, recapitalization or reorganization (any such action, a “Reorganization”), there shall thereafter be deliverable, upon exercise of this Warrant and payment of a proportionately adjusted Exercise Price (in lieu of the number of Warrant Shares theretofore deliverable) the number of shares of stock or other securities or property to which a holder of the number of shares of Common Stock that would otherwise have been deliverable upon exercise of this Warrant would have been entitled upon such Reorganization if such Warrant had been exercised in full immediately prior to such Reorganization.

(c)            Adjustment Upon Issuance of Common Stock. If and whenever during the period starting on the date first set forth above and continuing for one-year (the “Applicable Period”), the Company issues, sells or delivers, or is deemed to have issued, sold or delivered, any Common Stock in a transaction other than an Excluded Transaction for consideration per share less than a price equal to the Exercise Price in effect immediately prior to such issuance, sale or delivery or deemed issuance, (such Exercise Price then in effect is referred to as the “Applicable Price”) (the foregoing a “Dilutive Issuance”), then immediately after such Dilutive Issuance, the Exercise Price then in effect shall be reduced to the lowest consideration per share for shares issued in such transaction.  An Excluded Transaction shall mean (i) any issuance or deemed issuance of Common Stock or options to purchase Common Stock pursuant to the Company’s stock incentive plan, (ii) any issuance or deemed issuance of Common Stock as consideration for the acquisition of all or a portion of the assets of  a company, whether such acquisition is structured as a merger, equity purchase, asset purchase, cancellation of a license or agreement or other structure, (iii) any issuance upon the exercise or conversion of options, warrants or convertible notes or other agreements outstanding as of the issue date hereof, and (iv) any shares issued to bona fide consultants for their services.

5.           Covenants of the Corporation.

(a)           Availability of Shares.  The Corporation will reserve and keep available for issuance and delivery upon the exercise of this Warrant such number of its authorized but unissued shares of Common Stock or other securities of the Corporation as will be sufficient to permit the exercise in full of this Warrant.  Upon issuance, each of the Warrant Shares will be validly issued, fully paid and nonassessable, free and clear of all liens, security interests, charges and other encumbrances or restrictions on sale and free and clear of all preemptive rights.

(b)           Listing; Stock Issuance.  The Corporation shall secure and maintain the listing of the Warrant Shares upon each U.S. securities exchange or over-the-counter market upon which securities of the same class or series issued by the Corporation are listed, if any.  Upon exercise of this Warrant, the Corporation will use its best efforts to cause stock certificates representing the shares of Common Stock purchased pursuant to the exercise to be issued in the names of Holder, its nominees or assignees, as appropriate promptly following such exercise.

6.           No Voting Rights; Limitations of Liability.  Prior to exercise, this Warrant will not entitle the Holder to any voting rights or other rights as a stockholder of the Corporation not granted herein.  No provision of this Warrant, in the absence of affirmative action by the Holder to exercise this Warrant, and no enumeration in this Warrant of the rights or privileges of the Holder, will give rise to any liability of such Holder for the Exercise Price.

  

  

  

7.           Exercise Procedure.

(a)  To exercise this Warrant, the Holder must deliver to the principal office of the Corporation (prior to the Expiration Date) this Warrant, the subscription substantially in the form of Exhibit A attached hereto, and the Exercise Price for the number of Warrant Shares with respect to which the Warrant is being exercised. The Holder may deliver the Exercise Price by any of the following methods, at its option: (i) in cash, (ii) by bank cashier's or certified check, or (iii) by wire transfer to an account designated by the Corporation or, if available, pursuant to the cashless exercise procedure specified in Section 7(c) below.  Upon proper exercise, the Corporation will issue and deliver to Holder, within 5 days after the date on which the Holder exercises this Warrant, certificates for the Warrant Shares purchased hereunder.  The Warrant Shares shall be deemed issued, and the Holder deemed the holder of record of such Warrant Shares, as of the opening of business on the date on which the Holder properly exercises this Warrant.

(b)  In the event this Warrant is partially exercised, the Corporation shall issue and deliver to the Holder, within 10 days after the date of exercise, a new Warrant of like tenor to purchase that number of Warrant Shares with respect to which such partial exercise did not apply.

(c)  If at the time of exercise hereof there is no effective registration statement registering the resale of the Warrant Shares (or the prospectus contained therein is not available for use), then this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares determined as follows:

(Y) = (A-B)(X)

            (A)

where:

(Y) = the number of Warrant Shares to be received upon such exercise;

 (A) = the average VWAP for the five Trading Days immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise;

(B) = the Exercise Price of this Warrant, as adjusted hereunder; and

(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise (with it being agreed that the number of Warrant Shares issuable under this Warrant shall be reduced by (X) Warrant Shares upon such exercise).

“VWAP” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a U.S. stock exchange, quotation service or similar market, including the OTC Markets (a “Trading Market”), the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time), and (b) in all other cases, the fair market value of a share of Common Stock as agreed to by the Company and if no such agreement can be reached, an independent appraiser selected in good faith by the Company and reasonably acceptable to the Holder, the fees and expenses of which shall be paid by the Company.

  

  

  

8.           Securities Laws.  Neither the sale of this Warrant nor the issuance of any of the Warrant Shares upon exercise of this Warrant have been registered under the Act or under the securities laws of any state.  The issuance of the Warrant Shares upon exercise of this Warrant shall be subject to compliance with all applicable Federal and state securities laws.  Until the Warrant Shares have been registered under the Act and registered and qualified under the securities laws of any state in question, the Corporation shall cause each certificate evidencing any Warrant Shares to bear the following legend and such other legends as may be required by applicable law:

THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE.  THE SHARES MAY NOT BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, AND SUCH REGISTRATION OR QUALIFICATION AS MAY BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE, OR AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION OR QUALIFICATION IS NOT REQUIRED.

9.           Transfer.  The Corporation will register this Warrant on its books and keep such books at its offices.  Neither this Warrant nor any of the Warrant Shares (when issued) may be sold, assigned, transferred, pledged or hypothecated or otherwise disposed of except as permitted by (i) any effective registration statement under the Act and by the securities laws of any state in question, or (ii) with an opinion of counsel reasonably satisfactory to the Corporation stating that such registration under the Act and registration or qualification under the securities laws of any state is not required.

10.           Replacement of Warrant.  If the Holder provides evidence that this Warrant or any certificate or certificates representing the Warrant Shares have been lost, stolen, destroyed or mutilated, the Corporation (at the request and expense of the Holder) will issue a replacement warrant upon the provision by the Holder of an indemnity bond and indemnification agreement in form and substance reasonably satisfactory to the Corporation and its transfer agent Holder (if required by the Corporation).

11.           Governing Law.  The internal laws of the State of Nevada (other than its conflicts of law rules) govern this Warrant.

IN WITNESS WHEREOF, the Corporation has caused this Warrant to be duly executed and delivered on its behalf by the officer whose signature appears below, as of the date first written above.

ULURU Inc.

By: _____________________________________

Name:

Title:

  

  

  

EXHIBIT A

IRREVOCABLE SUBSCRIPTION

The registered Holder of the Common Stock Purchase Warrant to which this Irrevocable Subscription is an Exhibit (the “Warrant”) hereby irrevocably elects to exercise the purchase rights represented by such Warrant for, and to purchase thereunder, _______________  shares of Common Stock, (the “Warrant Shares”), of ULURU Inc. and either

 

 

    tenders herewith payment of the aggregate Exercise Price in respect of the Warrant Shares in full, in the amount of $_________; or

 

 

 

    elects pursuant to Section 7(c)  of such Warrant to convert such Warrant into Common Stock on a cashless exercise basis with $______ being used as (A), $_________ being used as (B), _______ being used as (X) and (Y) being calculated to equal ___________.

 

 

 

 

The undersigned requests that the shares be issued in the name of:

______________________________*

(Name)

______________________________

(Address)

______________________________

(Taxpayer Number)

and delivered to:

______________________________

(Name)

______________________________

(Address Line 1)

______________________________

(Address Line 2)

* If this is a person other than the Holder, the exercise shall be accompanied by a legal opinion stating such transfer is registered or opining as to the exemption for such transfer.

Date:_______________

Signed:                      ______________________________________________

(Name of Holder, Please Print)

________________________________________

(Signature)

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"}]]