SEC Contract Filing

Filing Date: 2019-09-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>tv528749_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT TO EMPLOYMENT AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS AMENDMENT TO EMPLOYMENT
AGREEMENT (this &ldquo;<B><I>Amendment</I></B>&rdquo;), dated as of August 30, 2019, by and between REVEN HOUSING REIT, INC., a
Maryland corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and CHAD CARPENTER (the &ldquo;<B><I>Executive</I></B>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
and the Executive have entered into that certain Amended and Restated Employment Agreement, dated as of August 14, 2018 (the &ldquo;<B><I>Employment
Agreement</I></B>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
and Executive do now mutually desire to amend certain terms of the Employment Agreement, effective as of the Effective Date (as
defined below), by entering into this Amendment;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, this Amendment
is being executed and delivered in connection with that certain Agreement and Plan of Merger, of even date herewith (the &ldquo;<B><I>Merger
Agreement</I></B>&rdquo;), by and among SOR PORT Holdings, LLC, a Maryland limited liability company (&ldquo;<B><I>Parent</I></B>&rdquo;),
SOR PORT, LLC, a Maryland limited liability company and a wholly-owned subsidiary of Parent (&ldquo;<B><I>Merger Sub</I></B>&rdquo;),
and the Company, pursuant to which Merger Sub will merge with and into the Company (the &ldquo;<B><I>Merger</I></B>&rdquo;), with
the Company surviving the Merger as a wholly-owned subsidiary of Parent, upon the terms and subject to the conditions set forth
in the Merger Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Executive
acknowledges that, as a result of the Merger, the Executive is selling all of his equity interest in the Company, and the goodwill
of the Company&rsquo;s business associated with such interest, to Parent and, therefore, will directly benefit from Parent&rsquo;s
acquisition of such goodwill;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Executive
is deriving substantial economic benefit from the sale or disposition of the Executive&rsquo;s interest in the Company to Parent
as a result of the Merger;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, upon and after
the Merger, Parent will carry on the business of the Company, and therefore, the Executive acknowledges and agrees that it is fair
and appropriate to preserve the value of the goodwill of the Company to be purchased by Parent as a result of the Merger by amending
the Agreement to ensure that the Executive will not compete with the Company or Parent following the Merger, as set forth in this
Amendment;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Executive
recognizes and agrees that this Amendment is necessary to protect Parent&rsquo;s interest in the Company, including its goodwill,
that will be acquired in connection with the Merger; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, as an inducement
for Parent to consummate the Merger and the other transactions contemplated by the Merger Agreement, the Company and the Executive
desire to amend the Agreement in the manner set forth herein in order to protect Parent&rsquo;s interest in the Company, incl