SEC Contract Filing

Filing Date: 2016-09-02

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>6
<FILENAME>f8k090116ex10i_enercore.htm
<DESCRIPTION>SECURITIES PURCHASE AGREEMENT, DATED SEPTEMBER 1, 2016, BY AND AMONG ENER-CORE, INC. AND CERTAIN INVESTORS SET FORTH THEREIN
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>This
AGREEMENT and the rights and obligations evidenced hereby are subordinate in the manner and to the extent set forth in that certain
Subordination and Intercreditor Agreement, dated as of SEPTEMBER 1, 2016 (as the same may be amended or otherwise modified from
time to time pursuant to the terms thereof, the &ldquo;<U>Subordination Agreement</U>&rdquo;), by and among LONGBOARD CAPITAL
ADVISORS LLC (the &ldquo;<U>Subordinated Agent</U>&rdquo;), Ener-Core, Inc., a Delaware corporation (&ldquo;<U>Borrower</U>&rdquo;),
Ener-Core Power, Inc., a Delaware corporation (the &ldquo;<U>Guarantor</U>&rdquo;), Anthony Tang, as a Senior Lender (as defined
therein) (the &ldquo;<U>Senior L/C Lender</U>&rdquo;), and Empery Tax Efficient, LP in its capacity as collateral agent for the
Senior Note Lenders (as defined therein) (together with its successors and assigns, the &ldquo;<U>Agent</U>&rdquo;), to the indebtedness
(including interest) owed by the Credit Parties (as defined therein) pursuant to that certain (a)(i) Securities Purchase Agreement
dated as of April 22, 2015 and (ii) a Securities Purchase Agreement dated as of May 7, 2015, in each case of clauses (i) and (ii),
by and among Borrower, Agent and the Senior Note Lenders and (b) Backstop Security Support Agreement, dated as of November 2,
2015, by and between the Borrower and Senior L/C Lender, in each case, as amended, restated, supplemented, refinanced or otherwise
modified from time to time; and each PARTY TO THIS AGREEMENT irrevocably agrees to be bound by the provisions of the Subordination
Agreement.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
PURCHASE AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
PURCHASE AGREEMENT</B> (the &ldquo;<B>Agreement</B>&rdquo;), dated as of September 1, 2016, by and among Ener-Core, Inc., a Delaware
corporation, with headquarters located at 9400 Toledo Way, Irvine, California 92618 (the &ldquo;<B>Company</B>&rdquo;), Longboard
Capital Advisors LLC, in its capacity as agent for the Buyers in their capacity as unsecured creditors (the &ldquo;<B>Subordinated
Agent</B>&rdquo;), and the investors listed on the Schedule of Buyers attached hereto (individually, a &ldquo;<B>Buyer</B>&rdquo;
and collectively, the &ldquo;<B>Buyers</B>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.&#9;The
Company and each Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the &ldquo;<B>1933 Act</B>&rdquo;), and Rule 506(b) of
Regulation D (&ldquo;<B>Regulation D</B>&rdquo;) as promulgated by the United States Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;)
under the 1933 Act.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 36pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.&#9;The
Company has authorized a new series of convertible unsecured promissory notes of the Company, in substantially the form attached
hereto as <U>Exhibit A</U> (the &ldquo;<B>Notes</B>&rdquo;), which Notes shall be convertible into the Company&rsquo;s common
stock, par value $0.0001 per share (the &ldquo;<B>Common Stock</B>&rdquo;) (the shares of Common Stock issuable pursuant to the
terms of the Notes, including, without limitation, upon conversion, upon payment of interest, or otherwise, collectively, the
&ldquo;<B>Conversion Shares</B>&rdquo;), in accordance with the terms of the Notes.</FONT></P>

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