SEC Contract Filing

Filing Date: 2015-01-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.08
<SEQUENCE>2
<FILENAME>ex108.htm
<DESCRIPTION>MATERIAL CONTRACT
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<P style="line-height:14pt; margin:0pt; font-size:12pt"><FONT FACE="Times New Roman" COLOR=#000000><B>Exhibit 10.8<BR>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>SECURITIES PURCHASE AGREEMENT<BR>
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<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>This <B>SECURITIES PURCHASE AGREEMENT</B> (the &#147;Agreement&#148;), dated as of , by and between , a &nbsp;corporation, with headquarters located at , &nbsp;(the &#147;Company&#148;), and <B>KBM WORLDWIDE, INC.</B>, a New York corporation, with its address at 80 Cuttermill Road, Suite 410, Great Neck, NY 11021 (the &#147;Buyer&#148;).</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>WHEREAS</B>:</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; font-size:12pt" align=justify>A.</P>
<P style="line-height:14pt; margin:0pt; text-indent:54pt; font-size:12pt" align=justify>The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the &#147;SEC&#148;) under the Securities Act of 1933, as amended (the &#147;1933 Act&#148;);</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; font-size:12pt" align=justify>B.</P>
<P style="line-height:14pt; margin:0pt; text-indent:54pt; font-size:12pt" align=justify>Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement an 8% convertible note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of $ (together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the &#147;Note&#148;), convertible into shares of common stock, $ par value per share, of the Company (the &#147;Common Stock&#148;), upon the terms and subject to the limitations and conditions set forth in such Note.</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; font-size:12pt" align=justify>C.</P>
<P style="line-height:14pt; margin:0pt; text-indent:54pt; font-size:12pt" align=justify>The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth immediately below its name on the signature pages hereto; and</P>
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<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify><B>NOW THEREFORE</B>, the Company and the Buyer severally (and not jointly) hereby agree as follows:</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; font-size:12pt" align=justify>1.</P>
<P style="line-height:14pt; margin:0pt; text-indent:90pt; font-size:12pt" align=justify><U>Purchase and Sale of Note.</U></P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:108pt; font-size:12pt" align=justify>a.</P>
<P style="line-height:14pt; margin:0pt; text-indent:126pt; font-size:12pt" align=justify><U>Purchase of Note</U>. &nbsp;On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer&#146;s name on the signature pages hereto.</P>
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<P align="center" style="margin:0pt">&nbsp;</P>
<P align="center" style="margin:0pt">1</P>
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 <BR>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:108pt; font-size:12pt; page-break-before:always" align=justify>b.</P>
<P style="line-height:14pt; margin:0pt; text-indent:126pt; font-size:12pt" align=justify><U>Form of Payment</U>. &nbsp;On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued and sold to it at the Closing (as defined below) (the &#147;Purchase Price&#148;) by wire transfer of immediately available funds to the Company, in accordance with the Company&#146;s written wiring instructions, against delivery of the Note in the principal amount equal to the Purchase Price as is set forth immediately below the Buyer&#146;s name on the signature pages hereto, and (ii)&nbsp;the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price. </P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:108pt; font-size:12pt" align=justify>c.</P>
<P style="line-height:14pt; margin:0pt; text-indent:126pt; font-size:12pt" align=justify><U>Closing Date</U>. &nbsp;Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section 7 below, the date and time of the issuance and sale of the Note pursuant to this Agreement (the &#147;Closing Date&#148;) shall be 12:00 noon, Eastern Standard Time on or about , or such other mutually agreed upon time. &nbsp;The closing of the transactions contemplated by this Agreement (the &#147;Closing&#148;) shall occur on the Closing Date at such location as may be agreed to by the parties.</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:72pt; font-size:12pt" align=justify>2.</P>
<P style="line-height:14pt; margin:0pt; text-indent:90p