ContractHTM Spada Agreement • May 5th, 2020 • Delaware
EX-10.6 16 aspu_ex106.htm SPADA AGREEMENT EXHIBIT 10.6 AGREEMENT This AGREEMENT (the “Agreement”) is entered into as of the 16th day of September, 2011 (the “Effective Date”) by and among Higher Education Management Group, Inc. (“HEMG”), Patrick Spada (“Spada”) and Aspen University Inc., a Delaware corporation (“Aspen”). HEMG, Spada and Aspen are sometimes referred to herein individually as a “Party” or collectively as the “Parties.” WHEREAS, Spada owns and controls HEMG; WHEREAS, HEMG owns 11,307,450 shares of Series C Preferred Stock of Aspen (“Series C”); WHEREAS, each share of Series C is currently convertible into 1.6947826 shares of common stock of Aspen (“Common Stock”); WHEREAS, HEMG desires to sell a portion of its Aspen Series C; and WHEREAS, Aspen desires to raise additional funds through an offering of its capital stock and warrants. NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth in this Agreement, and intending to be legally bound, the
