SEC Contract Filing

Filing Date: 2017-05-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>glbb_ex104.htm
<DESCRIPTION>STOCK PLEDGE AGREEMENT
<TEXT>
<html><head><title>glbb_ex104.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%" scroll="yes"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.4</b></p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px" align="center"><b>STOCK PLEDGE AGREEMENT</b></p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">This <b>STOCK PLEDGE AGREEMENT</b>, dated as of this 4th day of May 2017 (this "<b>Agreement</b>"), made by and among Richard C. Weiner (the "<b>Pledgor</b>"), in favor of Shin Dong Hyun (the "<b>Secured Party</b>").</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px"><b>WHEREAS</b>, as of the date hereof, the Secured Party has received a promissory note dated April 12, 2017 in an unpaid principal amount of Three Thousand Eight Hundred and Fifty United States Dollars ($3,850) made by the Pledgor and payable to the order of the Secured Party (the &#8220;<b>Note</b>&#8221;). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Note;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px"><b>WHEREAS</b>, this Agreement is given by the Pledgor in favor of the Secured Party to secure the payment and performance of all of the Secured Obligations; and</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px"><b>NOW, THEREFORE</b>, in consideration of the mutual covenants, terms and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px">1. <u>Definitions</u>.</p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">(a) For purposes of this Agreement, the following terms shall have the following meanings:</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">"<b>Collateral</b>" has the meaning set forth in <b>Section 2</b>.</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">"<b>Event of Default</b>" has the meaning set forth in the Note.</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">"<b>Pledged Shares</b>" means the shares of common stock owned by the Pledgor listed as <b><u>Exhibit A</u></b>, and the certificates, instruments and agreements representing the common stock and includes any securities or other interests, howsoever evidenced or denominated, received by the Pledgor in exchange for or as a dividend or distribution on or otherwise received in respect of the common stock. </p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">"<b>Proceeds</b>" means "proceeds" as such term is defined in Section 9-102 of the UCC and, in any event, shall include, without limitation, all dividends or other income from the Pledged Shares, collections thereon or distributions with respect thereto.</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">"<b>Secured Obligations</b>" has the meaning set forth in <b>Section 3</b>.</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 60px">"<b>UCC</b>" means the Uniform Commercial Code as in effect from time to time in the State of Nevada, or, when the laws of any other state govern the method or manner of the perfection or enforcement of any security interest in any of the Collateral, the Uniform Commercial Code as in effect from time to time in such state.</p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px">
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<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px">2. <u>Pledge</u>. The Pledgor hereby pledges, assigns and grants to the Secured Party, and hereby creates a continuing first priority lien and security interest in favor of the Secured Party in and to all of its right, title and interest in and to the following, wherever located, whether now existing or hereafter from time to time arising or acquired (collectively, the "<b>Collateral</b>"): </p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">(a)&nbsp;the Pledged Shares; and</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">(b)&nbsp;all Proceeds and products of the foregoing.&nbsp;</p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px">3. <u>Secured Obligations</u>. The Collateral secures the due and prompt payment and performance of:</p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">(a) the obligations of the Pledgor from time to time arising under the Note, this Agreement or otherwise with respect to the due and prompt payment of (i) the principal of and premium, if any, and interest pursuant to the Note (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise and (ii) all other monetary obligations, including fees, costs, attorneys' fees and disburseme