AMENDED AGREEMENT Reference is hereby made to: February 1st, 2015 December 2nd, 2013 Agreements by and between GlobalTech Holdings, Inc. and Robert Thomas III (and/or affiliates) Dated January 7, 2018
Exhibit 6.14
Reference is hereby made to:
February 1st, 2015
&
December 2nd, 2013
Agreements
by and between
GlobalTech Holdings, Inc.
and
Xxxxxx Xxxxxx III (and/or affiliates)
Dated January 7, 2018
AGREEMENT by and between GlobalTech Holdings, Inc., hereinafter referred to as GlobalTech, and Xxxxxx Xxxxxx III, hereinafter referred to as Xxxxxx, both hereinafter referred or as a "Party" and collectively as the "Parties."
Whereas, GlobalTech issued 20,887,500 shares of Common Stock to purchase Live Oak Pond Farm, as of December 2nd, 2013, and
Whereas, GlobalTech agreed that the current principals of Whispering Pines, Inc. will manage Live Oak Pond Farm, until the said Common Stock of GlobalTech could be converted to pay the outstanding debt on the Live Oak Pond Farm property totaling $2,895,000, and
Whereas, under the terms of the agreement, the principals of Polyidus XXXX, LLC, holders of the 20,887,500 shares of common stock of GlobalTech, shall execute such sale of the common stock of GlobalTech when the net share price shall warrant the required value to extinguish the debt on Live Oak Pond Farm, and
Whereas, if Xxxxxx or his company, Polyidus XXXX, LLC and its principals elect to retain said stock, the required liquidation of the note on Live Oak Pond Farm will become due and payable at such time and at such time, these principals shall deliver a free and clear title of Live Oak Pond Farm to GlobalTech, and
Whereas, the 20,887,500 shares were subsequently conveyed to a firm who represented that it would market this stock but in fact no stock was marketed Xxxxxx is attempting to recover this stock, and
Whereas, in connection with these transactions, Xxxxxx is the holder of a Promissory Note of GlobalTech dated February 1, 2015, hereinafter referred or as the Note, and
Whereas, said Note has at present a balance due of $2,542,500.00, and
Whereas, the Parties wish to settle the Note on the terms and conditions contained herein,
Now, Therefore, in consideration for the mutual promises contained herein, and other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows:
Section 1. Payment of Note. Xxxxxx hereby accepts Two Million, Five Hundred and Forty Two Thousand, Five Hundred (2,542,500) shares of the Common Stock of GlobalTech, par value $0.0001, as payment in full for the Note. Such shares shall be referred to herein as the "Shares."
Xxxxxx will execute a general warranty deed acceptable to GlobalTech on the Live Oak property in favor of GlobalTech.
Section 2. Registration of Shares. GlobalTech shall amend its Regulation A filing with the Securities and Exchange Commission or make Xxxxxx a selling shareholder or otherwise take such action as is needed or make the Shares freely tradable securities.
Section 3. Return of Earlier Stock Issued. Xxxxxx agrees to recover the stock it conveyed to the firm that promised to market this stock. When this stock is recovered, Xxxxxx shall convey it back to GlobalTech. GlobalTech shall, in the meantime, cooperate with Xxxxxx in his efforts to recover this stock and shall instruct its transfer agent or block the transfer of this stock. The Parties agree or cooperate and keep each other fully informed of their efforts and related events in this matter.
Section 4. Further Assurances. The Parties will execute such further documents and action necessary or appropriate to carry out the purposes of this Agreement.
Section 5. Amendments in Writing. No amendment or addition to this Agreement shall be effective unless agreed to in writing by the Parties. All amendments or additions will be executed in the form of an Addendum to this Agreement constituting an integral part thereof.
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Section 6. Notices. All notices or requests in connection with this Agreement shall be in writing. Such notices may be sent by verified facsimile transmission followed by registered or certified mail, or by registered or certified mail.
Section 7. Addresses. For all official correspondence, the Parties shall use the addresses, phone and fax numbers of each other stipulated below in this Agreement. The Parties must promptly inform each other about all changes in their addresses and telecommunication numbers.
Xxxxxx Xxxxxx
President
GlobalTech Holdings, Inc.
000 Xxxxxxxx Xxxxx
Xxxxxxxxxxx, XX 00000
Telephone number 000-000-0000
Email address is xxxxxx@XxxxxxXxxxxxxxx.xxx.
with a copy, which shall not constitute notice to:
Xxxx X. Xxx, Esq.
Lux Law, pa
0000 X Xxxxxx, Xxxxx 000
Xxxxxxxxxx, XX 00000
Phone: 000-000-0000
Fax: 000-000-0000
Xxxxxx Xxxxxx III
XX Xxx 000
Xxxxxxxxxxx, XX 00000
Section 8. Waiver. The waiver by a Party of a breach of any provision of this Agreement by the other shall not operate or be construed as a waiver of any subsequent breach by a Party. All waivers must be express, in writing, and signed. All waivers will be strictly construed.
Section 9. Rights and Obligations. The rights and obligations of a Party under this Agreement shall inure to the benefit of and shall be binding upon a Party's employees, directors, officers, agents, affiliates, associates, successors and assigns.
Section 10. Disputes. Disputes under this Agreement shall be submitted to binding arbitration by the American Arbitration Association in Valdosta, Georgia in English. A Party shall be entitled to enforce any of the protective provisions of this Agreement by court order without posting bond. A Party may obtain a court order to enforce any protective provision of this Agreement.
Section 11. Integration. This Agreement replaces all written or oral prior agreements about the subject matter between the Parties.
IN WITNESS WHEREOF, the Parties hereto, by their respective officers duly authorized, have caused this Agreement to be duly executed and delivered as of the date first above written.
GlobalTech Holdings, Inc.
By: /s/ Xxxxxx Xxxxxx, President
Xxxxxx Xxxxxx
/s/ Xxxxxx Xxxxxx III
Xxxxxx Xxxxxx III
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