SEC Contract Filing

Filing Date: 2015-10-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>6
<FILENAME>ex10-1.htm
<DESCRIPTION>FORM OF SECURITY AGREEMENT
<TEXT>
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Exhibit 10.1</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">SECURITY AGREEMENT</font></font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">THIS <font style="DISPLAY: inline; FONT-WEIGHT: bold">SECURITY AGREEMENT </font>(this <font style="DISPLAY: inline; FONT-WEIGHT: bold">&#8220;Agreement&#8221;</font>) is made as of September [&#160;&#160;], 2015 (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Funding Date</font>&#8221;) by and among <font style="DISPLAY: inline; FONT-WEIGHT: bold">CLR ROASTERS, LLC, </font>a Florida limited liability company (&#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">CLR Roasters</font>&#8221; or &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Pledgor</font>&#8221;) <font style="DISPLAY: inline; FONT-WEIGHT: bold">YOUNGEVITY INTERNATIONAL, INC.,</font> a Delaware corporation (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Company</font>&#8221; or &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Debtor</font>&#8221;); and <font style="DISPLAY: inline; FONT-WEIGHT: bold">THE PURCHASERS LISTED ON EXHIBIT A </font>(individually the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Secured Party</font>&#8221; and collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Secured Parties</font>&#8221;)<font style="DISPLAY: inline; FONT-WEIGHT: bold"> TO THAT CERTAIN NOTE PURCHASE AGREEMENT DATED AS OF SEPTEMBER [&#160;&#160;], 2015 BETWEEN THE COMPANY</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold">AND THE SECURED PARTIES </font>(the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Purchase Agreement</font>&#8221;)<font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">RECITALS</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN-LEFT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A.</font><font id="TAB2" style="LETTER-SPACING: 9pt; COLOR: black">&#160;</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Secured Parties and Debtor have entered into the Purchase Agreement.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN-LEFT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">B.</font><font id="TAB2" style="LETTER-SPACING: 9pt; COLOR: black">&#160;</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Pledgor and the Company are entering into this Agreement in order to further induce the Secured Parties to enter into the Purchase Agreement.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; MARGIN-LEFT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">C.</font><font id="TAB2" style="LETTER-SPACING: 9pt; COLOR: black">&#160;</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On the Funding Date, the Secured Parties have purchased Senior Secured Convertible Promissory Notes (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Notes</font>&#8221;) in an amount of up to $10,000,000 from the Company (the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Loan</font>&#8221;).</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Stephan Wallach has agreed to personally and unconditionally guaranty the Company's obligations under the Notes and this Agreement (collectively, the &#8220;<font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">Obligations</font>&#8221;) pursuant to a guaranty agreement dated as of the Funding Date