SEC Contract Filing

Filing Date: 2015-07-14

Document Content:
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>3
<FILENAME>exhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<head><title>Exhibit 10.1</title> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:'Times New Roman'; COLOR:#000000; FONT-SIZE:10pt"> <div style=WIDTH:792px> <p style="MARGIN:0px; FONT-SIZE:9pt; BORDER-TOP:#000000 3px double; PADDING-TOP:4px" align=right><b>Exhibit 10.1</b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><b>SECURITIES PURCHASE AGREEMENT</b></p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px">This <b>SECURITIES PURCHASE AGREEMENT</b> (the &#147;Agreement&#148;), dated as of July 9, 2015, by and between <b>HYDROPHI TECHNOLOGIES GROUP, INC.</b>, a FLORIDA corporation, with headquarters located at 3404 OAKCLIFF ROAD SUITE C6, DORAVILLE, GA 30340 (the &#147;Company&#148;), and <b>___________________</b>, with its address at _______________(the &#147;Buyer&#148;).</p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><b>WHEREAS</b>:</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px">A. 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> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px">B. Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement a 8% convertible note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of $93,500 (the &#147;Note&#148;), convertible into shares of common stock of the Company (the &#147;Common Stock&#148;), upon the terms and subject to the limitations and conditions set forth in this Agreement and Note.</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px">C. The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, the initial Note in the principal amount as is set forth immediately below its name on the signature pages hereto as provided in this Agreement.</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px">D. The Buyer is entering into this agreement as one of two agreements of a similar nature, however, the Buyer is acting independently of the other buyer in respect of the agreements contained herein and in respect of its investment decision, and the act of simultaneously investing should not be interpreted in any way as forming a partnership among the buyers of this and similar notes. &nbsp;Each purchase is deemed independent of the other and not contingent on the other.</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px"><b>NOW THEREFORE</b>, the Company and the Buyer severally (and not jointly) hereby agree as follows:</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px">1. Purchase and Sale of Note.</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:36px; MARGIN:0px">a. Purchase of Note. 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 a Note in the principal amount of $93,500 for a purchase price of $85,000.</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:36px; MARGIN:0px">b. <u>Form of Payment</u>. On the Closing Dates (as defined below), (i) the Buyer shall pay the purchase price (the &#147;Purchase Price&#148;) for the Note to be issued and sold to it at the Closing (as defined below) by wire transfer in 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 &nbsp;as set forth in this Agreement, and (ii) the Company shall deliver &nbsp;a duly executed Note to the Buyer, against delivery of such Purchase Price.</p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:36px; MARGIN:0px">c. <u>Closing Date</u>. 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 each Note pursuant to this Agreement (each and together referred to as the &#147;Closing Date&#148;) shall be 12:00 noon, Eastern Standard Time on July 9, 2015, and/or such other mutually agreed upon time for both the initial and second closing. 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> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:24px; MARGIN:0px">2. <u>Buyer&#146;s Representations and Warranties.</u> The Buyer represents and warrants to the Company that:</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; TEXT-INDENT:36px; MARGIN:0px">a. <u>Investment Purpose</u>. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any, as are issuable (i) on account of interest on the Note, (ii) as a result of the events described in Section 1.4(g) of the Note or (iii) in payment of the Standard Liquidated Damages Amount (as defined in Section 2(f) below) pursuant to this Agreement, such shares of Common Stock being collectively referred to herein as the &#147;Conversion Shares&#148; and, collectively with the Note, the &#147;Securities&#148;) for its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1