SEC Contract Filing

Filing Date: 2015-05-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ex101subscription.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<a name="s5027B5EF297F85652B4BEC86B45499C0"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Subscription Agreement</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">BG Staffing, Inc.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">5850 Granite Parkway, Suite 730</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Plano, Texas 75024</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The undersigned (the &#8220;Investor&#8221;) hereby confirms its agreement with you as follows: </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:11pt;">This Subscription Agreement (this &#8220;Agreement&#8221;), is made as of the date set forth below between BG Staffing, Inc. a Delaware corporation (the &#8220;Company&#8221;), and the Investor.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:11pt;font-weight:bold;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:11pt;">The Company has authorized the sale and issuance to certain investors of up to an aggregate of 636,500 shares of common stock (the &#8220;Shares&#8221;), par value $0.01 per share of the Company (the &#8220;Common Stock&#8221;), for a purchase price of $11.00 per Share (the &#8220;Purchase Price&#8221;) pursuant to the Offering defined in Section 3 hereof. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;font-weight:bold;padding-right:48px;">3.</font><font style="font-family:inherit;font-size:11pt;">The Company and the Investor agree that the Investor will purchase from the Company and the Company will issue and sell to the Investor the number of Shares set forth below for the aggregate purchase price set forth below. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The Investor acknowledges that the Offering is not being underwritten by the placement agent (the &#8220;Placement Agent&#8221;) named in the Prospectus Supplement and that there is no minimum offering amount. The Investor acknowledges further that the Company has agreed to pay the Placement Agent a fee (the &#8220;Placement Fee&#8221;) in respect of the sale of Shares to the Investor. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;">The completion of the purchase and sale of the Shares (the &#8220;Closing&#8221;) shall occur at a place and time (the &#8220;Closing Date&#8221;) to be specified by the Company and the Placement Agent, and in any event no later than three (3) Trading Days (as defined below) after the date hereof, and of which the Investors will be notified in advance by the Placement Agent, in accordance with Rule 15c6-1 promulgated under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). At the Closing, (a) the Company shall cause the Transfer Agent to deliver to the Investor the number of Shares set forth on the Signature Page registered in the name of the Investor or, if so indicated on the Signature Page, in the name of a nominee designated by the Investor, and (b) the aggregate purchase price for the Shares being purchased by the Investor will be delivered by or on behalf of the Investor to the Company. &#8220;Trading Day&#8221; shall mean (a) any day on which the Common Stock is listed or quoted and traded on its primary Trading Market, (b) if the Common Stock is not then listed or quoted and traded on any Eligible Market, then a day on which trading occurs on the OTC Bulletin Board (or any successor thereto), or (c) if trading does not occur on the OTC Bulletin Board (or any successor thereto), any business day. &#8220;Trading Market&#8221; shall mean the NYSE MKT or any other Eligible Market,