SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, DC 20549

 

 


 

 

SCHEDULE 13D

 

 

Under the Securities Exchange Act of 1934*
(Amendment No. 6)

 

CVSL Inc.

(Name of Issuer)

 

Common Stock, $0.0001 per share

(Title of Class of Securities)

 

12665T 10 7

(CUSIP Number)

 

Douglas D. Haloftis, Gardere Wynne Sewell LLP,

1601 Elm Street, Suite 3000, Dallas, Texas 75201, (214) 999-4670

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

June 18, 2013

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule. 13d-7 for other parties to whom copies are to be sent.

*  The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 



 

CUSIP No.   12665T 10 7

 

 

(1)

Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)

Rochon Capital Partners, Ltd.

26-0355365

 

 

(2)

Check the Appropriate Box if a Member of a Group

 

 

(a)

  o

 

 

(b)

  x

 

 

(3)

SEC Use Only

 

 

(4)

Source of Funds
OO

 

 

(5)

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o

 

 

(6)

Citizenship or Place of Organization
Texas

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

(7)

Sole Voting Power
-0-

 

(8)

Shared Voting Power
277,586,034 (1)

 

(9)

Sole Dispositive Power
-0-

 

(10)

Shared Dispositive Power
277,586,034 (1)

 

 

(11)

Aggregate Amount Beneficially Owned by Each Reporting Person
284,336,034 (2)

 

 

(12)

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

(13)

Percent of Class Represented by Amount in Row (11)
58.3% (3)

 

 

(14)

Type of Reporting Person
PN

 


(1) Rochon Capital Partners, Ltd. owns all of these shares directly.  John Rochon Management, Inc. is the sole general partner of Rochon Capital Partners, Ltd., and John P. Rochon is the sole owner and the President of John Rochon Management, Inc.  Therefore, John Rochon Management, Inc. and John P. Rochon may be deemed to be beneficial owners of, and share voting and dispositive power over, these shares.

 

(2) Of the reported shares, 750,000 of such shares are owned directly by John Rochon Management, Inc., 3,000,000 of such shares are owned directly by Kelly L. Kittrell and 3,000,000 of such shares are owned directly by Russell Mack, all of whom, together with Rochon Capital Partners, Ltd. and John P. Rochon, may be deemed members of the group described in this statement.  In addition, as described in Item 3 and Item 5 of this statement, Rochon Capital Partners, Ltd. has the contractual right to receive direct ownership of additional shares of Common Stock (as defined below) at the Second Tranche Closing (as defined below), subject to certain conditions and a required notice.

 

(3) Percentage calculated based on 487,712,326 shares of Common Stock outstanding as of May 13, 2013, as reported in the Issuer’s (as defined below) Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013.

 

2



 

CUSIP No.   12665T 10 7

 

 

(1)

Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)

John Rochon Management, Inc.

20-2083449

 

 

(2)

Check the Appropriate Box if a Member of a Group

 

 

(a)

  o

 

 

(b)

  x

 

 

(3)

SEC Use Only

 

 

(4)

Source of Funds
OO, AF

 

 

(5)

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o

 

 

(6)

Citizenship or Place of Organization
Texas

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

(7)

Sole Voting Power
-0-

 

(8)

Shared Voting Power
278,336,034 (1)

 

(9)

Sole Dispositive Power
-0-

 

(10)

Shared Dispositive Power
278,336,034 (1)

 

 

(11)

Aggregate Amount Beneficially Owned by Each Reporting Person
284,336,034 (2)

 

 

(12)

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

(13)

Percent of Class Represented by Amount in Row (11)
58.3% (3)

 

 

(14)

Type of Reporting Person
CO

 


(1) Except for 750,000 shares that are held directly by John Rochon Management, Inc., Rochon Capital Partners, Ltd. owns all of these shares directly.  John Rochon Management, Inc. is the sole general partner of Rochon Capital Partners, Ltd., and John P. Rochon is the sole owner and the President of John Rochon Management, Inc.  Therefore, John Rochon Management, Inc. and John P. Rochon may be deemed to be beneficial owners of, and share voting and dispositive power over, these shares.

 

(2) Of the reported shares, 750,000 of such shares are owned directly by John Rochon Management, Inc., 3,000,000 of such shares are owned directly by Kelly L. Kittrell and 3,000,000 of such shares are owned directly by Russell Mack, all of whom, together with Rochon Capital Partners, Ltd. and John P. Rochon, may be deemed members of the group described in this statement.  In addition, as described in Item 3 and Item 5 of this statement, Rochon Capital Partners, Ltd. has the contractual right to receive direct ownership of additional shares of Common Stock (as defined below) at the Second Tranche Closing (as defined below), subject to certain conditions and a required notice.

 

(3) Percentage calculated based on 487,712,326 shares of Common Stock outstanding as of May 13, 2013, as reported in the Issuer’s (as defined below) Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013.

 

3



 

CUSIP No.   12665T 10 7

 

 

(1)

Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)

John P. Rochon

 

 

(2)

Check the Appropriate Box if a Member of a Group

 

 

(a)

  o

 

 

(b)

  x

 

 

(3)

SEC Use Only

 

 

(4)

Source of Funds
OO, AF

 

 

(5)

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o

 

 

(6)

Citizenship or Place of Organization
United States of America

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

(7)

Sole Voting Power
-0-

 

(8)

Shared Voting Power
278,336,034 (1)

 

(9)

Sole Dispositive Power
-0-

 

(10)

Shared Dispositive Power
278,336,034 (1)

 

 

(11)

Aggregate Amount Beneficially Owned by Each Reporting Person
284,336,034 (2)

 

 

(12)

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

(13)

Percent of Class Represented by Amount in Row (11)
58.3% (3)

 

 

(14)

Type of Reporting Person
IN

 


(1) Except for 750,000 shares that are owned directly by John Rochon Management, Inc., Rochon Capital Partners, Ltd. owns all of these shares directly.  John Rochon Management, Inc. is the sole general partner of Rochon Capital Partners, Ltd., and John P. Rochon is the sole owner and the President of John Rochon Management, Inc.  Therefore, John Rochon Management, Inc. and John P. Rochon may be deemed to be beneficial owners of, and share voting and dispositive power over, such shares.

 

(2) Of the reported shares, 750,000 of such shares are owned directly by John Rochon Management, Inc., 3,000,000 of such shares are owned directly by Kelly L. Kittrell and 3,000,000 of such shares are owned directly by Russell Mack, all of whom, together with Rochon Capital Partners, Ltd. and John P. Rochon, may be deemed members of the group described in this statement.  In addition, as described in Item 3 and Item 5 of this statement, Rochon Capital Partners, Ltd. has the contractual right to receive direct ownership of additional shares of Common Stock (as defined below) at the Second Tranche Closing (as defined below), subject to certain conditions and a required notice.

 

(3) Percentage calculated based on 487,712,326 shares of Common Stock outstanding as of May 13, 2013, as reported in the Issuer’s (as defined below) Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013.

 

4



 

CUSIP No.   12665T 10 7

 

 

(1)

Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)

Kelly L. Kittrell

 

 

(2)

Check the Appropriate Box if a Member of a Group

 

 

(a)

  o

 

 

(b)

  x

 

 

(3)

SEC Use Only

 

 

(4)

Source of Funds
OO, AF

 

 

(5)

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o

 

 

(6)

Citizenship or Place of Organization
United States of America

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

(7)

Sole Voting Power
3,000,000

 

(8)

Shared Voting Power
-0-

 

(9)

Sole Dispositive Power
3,000,000

 

(10)

Shared Dispositive Power
-0-

 

 

(11)

Aggregate Amount Beneficially Owned by Each Reporting Person
284,336,034 (1)

 

 

(12)

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

(13)

Percent of Class Represented by Amount in Row (11)
58.3% (2)

 

 

(14)

Type of Reporting Person
IN

 


(1) As described in Item 3 and Item 5 of this statement, because of his actions in concert with the Rochon Reporting Persons (as defined below) and Russell Mack to complete all of the Transactions (as defined below), Kelly L. Kittrell may be deemed to have beneficial ownership of the 277,586,034 shares of Common Stock (as defined below) that are directly owned by Rochon Capital Partners, Ltd., the 750,000 shares of Common Stock that are owned by John Rochon Management, Inc. and the 3,000,000 shares of Common Stock that are owned directly by Russell Mack.  Further, because of the right of Rochon Capital Partners, Ltd. to receive additional shares of the Common Stock at the Second Tranche Closing (as defined below), Kelly L. Kittrell may be deemed to have beneficial ownership of those additional shares of Common Stock upon any Second Tranche Closing.

 

(2) Percentage calculated based on 487,712,326 shares of Common Stock outstanding as of May 13, 2013, as reported in the Issuer’s (as defined below) Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013.

 

5



 

CUSIP No.   12665T 10 7

 

 

(1)

Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)

Russell Mack

 

 

(2)

Check the Appropriate Box if a Member of a Group

 

 

(a)

  o

 

 

(b)

  x

 

 

(3)

SEC Use Only

 

 

(4)

Source of Funds
OO, AF

 

 

(5)

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o

 

 

(6)

Citizenship or Place of Organization
United States of America

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

(7)

Sole Voting Power
3,000,000

 

(8)

Shared Voting Power
-0-

 

(9)

Sole Dispositive Power
3,000,000

 

(10)

Shared Dispositive Power
-0-

 

 

(11)

Aggregate Amount Beneficially Owned by Each Reporting Person
284,336,034 (1)

 

 

(12)

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares   o

 

 

(13)

Percent of Class Represented by Amount in Row (11)
58.3% (2)

 

 

(14)

Type of Reporting Person
IN

 


(1) As described in Item 3 and Item 5 of this statement, because of his actions in concert with the Rochon Reporting Persons and Kelly L. Kittrell to complete all of the Transactions (as defined below), Russell Mack may be deemed to have beneficial ownership of the 277,586,034 shares of Common Stock (as defined below) that are owned directly by Rochon Capital Partners, Ltd., the 750,000 shares of Common Stock that are owned by John Rochon Management, Inc. and the 3,000,000 shares of Common Stock that are directly owned by Kelly L. Kittrell.  Further, because of the right of Rochon Capital Partners, Ltd. to receive additional shares of the Common Stock at the Second Tranche Closing (as defined below), Russell Mack may be deemed to have beneficial ownership of those additional shares of Common Stock upon any Second Tranche Closing.

 

(2) Percentage calculated based on 487,712,326 shares of Common Stock outstanding as of May 13, 2013, as reported in the Issuer’s (as defined below) Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013.

 

6



 

This Amendment No. 6 to Schedule 13D (this “ Amendment ”) relating to shares of common stock, par value of $0.0001 per share (“ Common Stock ”), of CVSL Inc. is filed with the Securities and Exchange Commission (the “ Commission ”) by Rochon Capital Partners, Ltd., a Texas limited partnership (“ Rochon Capital ”), John Rochon Management, Inc., a Texas corporation (“ Rochon Management ”), John P. Rochon (“ Rochon ” and, together with Rochon Capital and Rochon Management, the “ Rochon Reporting Persons ”), Kelly L. Kittrell (“ Kittrell ”) and Russell Mack (“ Mack ” and, together with the Rochon Reporting Persons and Kittrell, the “ Reporting Persons ”).  The Rochon Reporting Persons filed an original Schedule 13D (the “ Original Schedule 13D ”) relating to shares of Common Stock with the Commission on October 9, 2012, and the Original Schedule 13D has been amended by the Reporting Persons as follows (as amended through Amendment No. 5 described below, the “ Existing Schedule 13D ”):

 

Amendment No.

 

Date

 

Amendment Type

 

 

 

 

 

Amendment No. 1

 

October 9, 2012

 

Amendment and restatement of the Original Schedule 13D in its entirety

Amendment No. 2

 

December 14, 2012

 

Amendment and restatement of Amendment No. 1 in its entirety

Amendment No. 3

 

January 10, 2013

 

Amendment and restatement of Amendment No. 2 in its entirety

Amendment No. 4

 

February 19, 2013

 

Amendment and restatement of Amendment No. 3 in its entirety

Amendment No. 5

 

April 19, 2013

 

Amendment of certain Items of Amendment No. 4 only

 

This Amendment is being filed by the Reporting Persons with the Commission to report Rochon Capital’s contribution to CVSL Inc. (for cancelation) of 32,500,000 shares of Common Stock on June 18, 2013 for no consideration.

 

Item 1.

Security and Issuer.

 

Item 1 of the Existing Schedule 13D is amended and restated in its entirety as follows:

 

This statement relates to shares of common stock, par value of $0.0001 per share (“ Common Stock ”), of CVSL Inc., a Florida corporation formerly known as “Computer Vision Systems Laboratories, Corp.” (the “ Issuer ”).  The address of the principal executive offices of the Issuer is 2400 North Dallas Parkway, Suite 230, Plano, Texas 75093.

 

Item 3.

Source and Amount of Funds or Other Consideration.

 

Item 3 of the Existing Schedule 13D is amended as follows:

 

The following paragraph is hereby added immediately following the fifth full paragraph of Item 3 of the Existing Schedule 13D:

 

Rochon Capital contributed to the Issuer 32,500,000 shares of Common Stock, for no consideration, pursuant to an Equity Contribution Agreement, dated effective June 18, 2013, between Rochon Capital and the Issuer.  Upon completion of such contribution, the Issuer immediately canceled such shares of Common Stock.

 

The following sentence is hereby added to the end, as the last sentence, of the sixth full paragraph (identified by not taking into consideration the immediately preceding amendment) of Item 3 of the Existing Schedule 13D:

 

The Charter Amendment became effective on May 30, 2013.

 

The following sentence is hereby added to the end, as the last sentence, of the second to last full paragraph of Item 3 of the Existing Schedule 13D:

 

Rochon Capital currently intends to contribute to the Issuer (for cancelation by the Issuer) shares of Common Stock owned by Rochon Capital, in a number or amount then determined by Rochon Capital, in connection with Issuer Acquisition Transactions that are financed, wholly or partially, by the Issuer’s issuance of shares of Common Stock to third-parties in an effort to lessen the impact of, or eliminate, dilution that would occur as a result of such issuance of shares by the Issuer.

 

Item 5.

Interest in Securities of the Issuer.

 

Each of sub-items (a) and (b) of Item 5 of the Existing Schedule 13D is amended and restated in its entirety as follows:

 

(a)                             There were 487,712,326 shares of Common Stock outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013 filed with the Commission on May 15, 2013.  As reported previously by the Issuer, there were 487,712,326 shares of Common Stock outstanding as of and immediately following the First Tranche Closing.

 

Rochon Capital directly owns 277,586,034 shares of Common Stock, representing 56.9% of the current 487,712,326 shares of outstanding Common Stock.  Upon the delivery of the Second Tranche Closing Notice and the issuance and delivery to Rochon Capital of the additional 504,813,514 shares of Common Stock at any Second Tranche Closing, Rochon Capital will have direct ownership of a total of 782,399,548 shares of Common Stock, representing 78.8% of the Common Stock to be outstanding as of

 

7



 

any Second Tranche Closing.  Additionally, if the group described below is deemed to exist, Rochon Capital may be deemed beneficially to own the 750,000 shares that are owned directly by Rochon Management as a result of the Distribution and the 6,000,000 shares of Common Stock that Rochon Capital transferred to, and that are held by, Kittrell and Mack.  As a result, Rochon Capital may be deemed beneficially to own an aggregate 284,336,034 shares of Common Stock, or 58.3% of the current 487,712,326 shares of outstanding Common Stock and, upon any Second Tranche Closing, may be deemed beneficially to own an aggregate 789,149,548 shares of Common Stock, representing 79.5% of the Common Stock to be outstanding as of any Second Tranche Closing.  Rochon Capital disclaims beneficial ownership, however, of any of the shares of Common Stock that Rochon Capital transferred to, and that are directly held by, Rochon Management, Kittrell and Mack.

 

Rochon Management directly owns 750,000 shares of Common Stock, representing less than 1% of the current 487,712,326 shares of outstanding Common Stock.  Rochon Management, as the sole general partner of Rochon Capital, may be deemed beneficially to own 278,336,034 shares of Common Stock, representing 57.1% of the current 487,712,326 shares of outstanding Common Stock.  Upon the delivery of the Second Tranche Closing Notice and the issuance and delivery to Rochon Capital of the additional 504,813,514 shares of Common Stock at any Second Tranche Closing, Rochon Management, individually and as the sole general partner of Rochon Capital, may be deemed beneficially to own a total of 783,149,548 shares of Common Stock, representing 78.9% of the Common Stock to be outstanding as of any Second Tranche Closing.  Additionally, if the group described below is deemed to exist, Rochon Management may be deemed beneficially to own the 6,000,000 shares of Common Stock that Rochon Capital transferred to, and that are held by, Kittrell and Mack.  As a result, Rochon Management may be deemed beneficially to own an aggregate 284,336,034 shares of Common Stock, or 58.3% of the current 487,712,326 shares of outstanding Common Stock and, upon any Second Tranche Closing, may be deemed beneficially to own an aggregate 789,149,548 shares of Common Stock, representing 79.5% of the Common Stock to be outstanding as of any Second Tranche Closing.  Rochon Management disclaims beneficial ownership, however, of any of the 6,000,000 shares of Common Stock that Rochon Capital transferred to, and that are directly held by, Kittrell and Mack.

 

Because of his direct or indirect ownership interest in, or control of, Rochon Capital and Rochon Management, Rochon may be deemed beneficially to own 278,336,034 shares of Common Stock, representing 57.1% of the current 487,712,326 shares of outstanding Common Stock.  Upon the delivery of the Second Tranche Closing Notice and the issuance and delivery to Rochon Capital of the additional 504,813,514 shares of Common Stock at any Second Tranche Closing, Rochon, because of his direct or indirect ownership interest in, or control of, Rochon Capital and Rochon Management, may be deemed beneficially to own a total of 783,149,548 shares of Common Stock, representing 78.9% of the Common Stock to be outstanding as of any Second Tranche Closing.  Additionally, if the group described below is deemed to exist, Rochon may be deemed beneficially to own the 6,000,000 shares of Common Stock that Rochon Capital transferred to, and that are held by, Kittrell and Mack.  As a result, Rochon may be deemed beneficially to own an aggregate 284,336,034 shares of Common Stock, or 58.3% of the current 487,712,326 shares of outstanding Common Stock and, upon any Second Tranche Closing, may be deemed beneficially to own an aggregate 789,149,548 shares of Common Stock, representing 79.5% of the Common Stock to be outstanding as of the Second Tranche Closing.  Rochon disclaims beneficial ownership, however, of any of the 6,000,000 shares of Common Stock that Rochon Capital transferred to, and that are directly held by, Kittrell and Mack.

 

Each of Kittrell and Mack directly owns 3,000,000 shares of Common Stock, representing less than 1% of the current 487,712,326 shares of outstanding Common Stock.  Neither Kitrrell nor Mack has any right to receive any additional shares from Rochon Capital at, or as the result of, the Second Tranche Closing.

 

The Reporting Persons may be deemed a group because of their actions in concert to complete the Transactions, so that Rochon Capital will have the full ownership of shares of Common Stock and corresponding control over the Issuer provided for by the Share Exchange Agreement, through any Second Tranche Closing.  Accordingly, because of his actions in concert with the other Reporting Persons to complete all of the Transactions, each of Kittrell and Mack may be deemed beneficially to own an aggregate 284,336,034 shares of Common Stock, representing 58.3% of the current 487,712,326 shares of outstanding Common Stock.  Upon the delivery of the Second Tranche Closing Notice and the issuance and delivery to Rochon Capital of the additional 504,813,514 shares of Common Stock at any Second Tranche Closing, each of Kittrell and Mack, because of his actions in concert with the other Reporting Persons to complete all of the Transactions, may be deemed beneficially to own an aggregate 789,149,548 shares of Common Stock, representing 79.5% of the Common Stock to be outstanding as of the Second Tranche Closing.  The 3,000,000 shares of Common Stock owned of record by each of Kittrell and Mack would represent less than 1% of the Common Stock to be outstanding as of the Second Tranche Closing.

 

Nevertheless, each of Kittrell and Mack disclaims beneficial ownership of all shares of Common Stock now owned, or to be owned as of the Second Tranche Closing, directly by Rochon Capital and Rochon Management.

 

8



 

There is no agreement or understanding between the Rochon Reporting Persons and Kittrell, between the Rochon Reporting Persons and Mack, or between Kittrell and Mack, regarding the voting or any disposition of the shares of Common Stock owned separately by the Rochon Reporting Persons, Kittrell and Mack, or regarding any acquisition of any additional shares of Common Stock.  Each of the Reporting Persons will make its or his own decisions regarding the voting or any disposition of the shares of Common Stock that it or he owns separately, and regarding any acquisition of additional shares of Common Stock, without consultation with, or concurrence of, any of the other Reporting Persons.

 

(b)                                  Rochon Capital possesses the sole power to vote or direct the vote of, and the sole power to dispose of or direct the disposition of, 277,586,034 shares of Common Stock, representing 56.9% of the current 487,712,326 shares of outstanding Common Stock.  Upon the delivery of the Second Tranche Closing Notice and the issuance and delivery to Rochon Capital of the additional 504,813,514 shares of Common Stock at any Second Tranche Closing, Rochon Capital will possess such voting and dispositive power over a total of 782,399,548 shares of Common Stock, representing 78.8% of the Common Stock to be outstanding as of any Second Tranche Closing.

 

Rochon Management possesses the sole power to vote or direct the vote of, and the sole power to dispose of or direct the disposition of, 750,000 shares of Common Stock, representing less than 1% of the current 487,712,326 shares of outstanding Common Stock.  In addition, as the general partner of Rochon Capital, Rochon Management may be deemed to possess the sole power to vote or direct the vote of, and the sole power to dispose of or direct the disposition of, 277,586,034 shares of Common Stock, representing 56.9% of the current 487,712,326 shares of outstanding Common Stock.  Upon the delivery of the Second Tranche Closing Notice and the issuance and delivery to Rochon Capital of the additional 504,813,514 shares of Common Stock at any Second Tranche Closing, Rochon Management, individually and as the general partner of Rochon Capital, may be deemed to possess such voting and dispositive power over a total of 783,149,548 shares of Common Stock, representing 78.9% of the Common Stock to be outstanding as of any Second Tranche Closing.

 

Because of his direct or indirect ownership interest in, or control of, Rochon Capital and Rochon Management, Rochon may be deemed to possess the sole power to vote or direct the vote of, and the sole power to dispose of or direct the disposition of, 278,336,034 shares of Common Stock, representing 57.1% of the current 487,712,326 shares of outstanding Common Stock.  Upon the delivery of the Second Tranche Closing Notice and the issuance and delivery to Rochon Capital of the additional 504,813,514 shares of Common Stock at any Second Tranche Closing, Rochon, because of his direct or indirect ownership interest in, or control of, Rochon Capital and Rochon Management, may be deemed to possess such voting and dispositive power over a total of 783,149,548 shares of Common Stock, representing 78.9% of the Common Stock to be outstanding as of the Second Tranche Closing.

 

Each of Kittrell and Mack possesses the sole power to vote or direct the vote of, and the sole power to dispose of or direct the disposition of, 3,000,000 shares of Common Stock, representing less than 1% of the current 487,712,326 shares of outstanding Common Stock.

 

Although the Reporting Persons may be deemed a group because of their actions in concert to complete the Transactions, there is no agreement or understanding between the Rochon Reporting Persons and Kittrell, between the Rochon Reporting Persons and Mack, or between Kittrell and Mack, regarding the power to vote or direct the voting of, or the power to dispose or direct the disposition of, the shares of Common Stock owned separately by the Rochon Reporting Persons, Kittrell and Mack, or regarding any acquisition of any additional shares of Common Stock.  Each of the Reporting Persons will make its or his own decisions regarding the voting or any disposition of the shares of Common Stock that it or he owns separately, and regarding any acquisition of additional shares of Common Stock, without consultation with, or concurrence of, any of the other Reporting Persons.

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

The following paragraph is hereby added after the last paragraph of Item 6 of the Existing Schedule 13D:

 

Pursuant to a Voting Agreement, dated March 18, 2013, among the The Tamala L. Longaberger Revocable Trust (the “ Trust ”), Rochon Capital, and the Issuer, and an irrevocable proxy executed by the Trust as of the same date, the Trust granted Rochon Capital the right to vote, until March 18, 2018, the 32,500,000 shares of Common Stock acquired by the Trust upon the conversion (the “ Conversion ”) of a Convertible Subordinated Unsecured Promissory Note, dated March 15, 2013, in the original principal amount of $6,500,000, issued by the Issuer to the Trust.  The Conversion occurred on June 14, 2013.

 

Item 7.

Materials to be Filed as Exhibits.

 

Item 7 of the Existing Schedule 13D is amended by adding the following Exhibits:

 

9



 

Exhibit 10                                         Equity Contribution Agreement, dated as of June 18, 2013, between Rochon Capital Partners, Ltd., a Texas limited partnership, and CVSL Inc., a Florida corporation.

 

Exhibit 11                                         Voting Agreement, dated March 18, 2013, by and among The Tamala L. Longaberger Revocable Trust, Rochon Capital Partners, Ltd., a Texas limited partnership, and CVSL Inc., a Florida corporation.

 

Exhibit 12                                         Irrevocable Proxy, dated March 18, 2013, executed by The Tamala L. Longaberger Revocable Trust in favor of Rochon Capital Partners, Ltd., a Texas limited partnership.

 

[ Remainder of Page Intentionally Left Blank; Signature Page Follows ]

 

10



 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: June 27, 2013

ROCHON CAPITAL PARTNERS, LTD.

 

 

 

 

 

By:

John Rochon Management, Inc., its sole general partner

 

 

 

 

 

 

 

 

 

 

By:

/s/ John P. Rochon

 

 

 

John P. Rochon, President

 

 

 

 

 

 

 

 

Date: June 27, 2013

JOHN ROCHON MANAGEMENT, INC.

 

 

 

 

 

 

 

 

 

By:

/s/ John P. Rochon

 

 

John P. Rochon, President

 

 

 

 

Date: June 27, 2013

/s/ John P. Rochon

 

John P. Rochon

 

 

 

 

Date: June 27, 2013

/s/ Kelly L. Kittrell

 

Kelly L. Kittrell

 

 

 

 

Date: June 27, 2013

/s/ Russell Mack

 

Russell Mack

 

11


Exhibit 10

 

EQUITY CONTRIBUTION AGREEMENT

 

This Equity Contribution Agreement (“ Agreement ”) dated effective as of June 18, 2013 (the “ Effective Date ”), is by and between CVSL Inc., a Florida corporation (the “ Company ”), and Rochon Capital Partners, Ltd. (“ Seller ”).

 

Recitals

 

A.                                     Seller is the record, legal and beneficial owner of $0.0001 par value shares of common stock of the Company (the “ Stock ”).

 

B.                                     Seller desires to make an equity contribution of certain shares of the Stock owned by it to the Company pursuant to the terms of this Agreement.

 

C.                                     The Company agrees to accept the contribution of such shares of Stock from Seller.

 

Agreement

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                       Transfer of Stock .

 

1.1                                Equity Contribution .  Seller agrees to contribute and transfer (the “ Contribution ”) to the Company, without the payment of any consideration by the Company, and the Company agrees to accept from Seller, 32,500,000 shares of Stock (the “ Shares ”), free and clear of any and all Encumbrances (as defined herein).  The Contribution is effective as of the Effective Date.

 

1.2                                Execution of Stock Power .  Seller shall execute the Stock Power, attached hereto as Exhibit A , to evidence and effectuate the Contribution of the Shares.

 

2.                                       Representations and Warranties .

 

2.1                                Seller’s Representations .  Seller represents and warrants to the Company as follows:

 

(a)                                  Stock Ownership and Other Matters .  Seller owns of record and beneficially and has good, valid and indefeasible title to the Shares, free and clear of any and all Encumbrances.

 

(b)                                  Authorization .  Seller has the full capacity to enter into and perform this Agreement and to contribute and transfer the Shares as herein provided.  The execution, delivery and performance of this Agreement has been duly authorized by all necessary corporate action on the part of Seller.  This Agreement is the valid and binding obligation of Seller, enforceable against it in accordance with its terms, subject to applicable bankruptcy,

 

EQUITY CONTRIBUTION AGREEMENT

 

1



 

insolvency, moratorium, reorganization or other similar laws affecting the enforceability of creditors’ rights generally, and by equitable principles.

 

(c)                                   Consents .  No consent, approval or authorization of any person or entity, including without limitation any lender, trustee, security holder, surety or bonding company, is required in connection with the execution, delivery or performance of this Agreement by Seller.

 

(d)                                  No Claims .  There is no action, suit or proceeding pending or, to the knowledge of Seller, threatened against Seller or any of Seller’s properties or rights before any court or by or before any governmental body or arbitration board or tribunal that would impact, prohibit or otherwise affect the transactions contemplated by this Agreement.

 

(e)                                   Capability .  Seller has sufficient knowledge and experience in financial and business matters and is fully capable of evaluating the merits of transferring the Shares to the Company.

 

2.2                                The Company’s Representations .  The Company represents and warrants to Seller as follows:

 

(a)                                  Authorization .  The execution, delivery and performance of this Agreement and have been duly authorized by all necessary corporate action on the part of the Company.  This Agreement is the valid and binding obligation of the Company, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting the enforceability of creditors’ rights generally, and by equitable principles.

 

(b)                                  Consents .  No authorization, approval or consent of any person or entity, including, without limitation, any lender, trustee, security holder, surety or bonding company, is required in connection with the execution, delivery or performance of this Agreement or the transactions contemplated hereby by the Company.

 

3.                                       Further Assurances .  Seller shall, from time to time and at any time after the date hereof, execute and deliver such additional assignments, certificates, instruments and documents and take all additional actions as requested by the Company to effectuate the purposes of this Agreement and to consummate and evidence the Contribution.

 

4.                                       Miscellaneous Provisions .

 

4.1                                Definition .  “ Encumbrance ” means any option, mortgage, pledge, security interest, lien, liability, claim, contingency, possessory interest, charge, encumbrance, title retention agreement, device or arrangement (including any lease in the nature thereof), choate or inchoate tax lien, assessment, covenant, reservation, right of first refusal, right to acquire or restrictions (whether on issuance, voting, sale, transfer, disposition or otherwise), whether imposed by agreement, understanding, law or otherwise.

 

4.2                                Survival .  All representations, warranties, covenants, agreements and indemnities contained in this Agreement or in any document delivered in connection herewith

 

EQUITY CONTRIBUTION AGREEMENT

 

2



 

shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

 

4.3                                Entire Agreement .  The parties hereto have made no representations and warranties other than those contained in the Agreement and the exhibit hereto.  This Agreement and the exhibit hereto constitute the entire agreement between the parties and supersede and cancel any and all prior agreements between the parties as to the transaction covered herein.

 

4.4                                GOVERNING LAW .  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS OF THE STATE OF TEXAS WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

 

4.5                                Notice .  All notices, requests, demands and other communications required or permitted hereunder shall be in writing and if delivered by facsimile transmission or personal delivery shall be deemed to have been given when sent; if delivered by federal express or express mail shall be deemed to have been given the next succeeding day; and if mailed, shall be deemed to have been given three days after the date when sent by registered or certified mail, postage prepaid and addressed to a party at the address as shown below or to such other address as such party may, by written notice received by the other party, have designated as the address for such purpose:

 

(a)                      if to the Company:                                                     CVSL Inc.

2400 Dallas Parkway, #230

Plano, TX 75093

 

(b)                      if to Seller:                                                                                                   Rochon Capital Partners, Ltd.

2400 Dallas Parkway, #230

Plano, TX 75093

 

4.6                                Severability .  This Agreement is intended to be performed in accordance with, and only to the extent permitted by, all applicable laws, ordinances, rules and regulations.  If any provision of this Agreement is for any reason or to any extent found to be invalid or unenforceable, the remainder of this Agreement shall not be affected thereby, but rather is to be enforced to the greatest extent permitted by law.

 

4.7                                Costs .  Each party shall pay its own fees and expenses (including legal or accounting fees or expenses) attributable to this Agreement and the transactions contemplated hereby.

 

4.8                                Counterparts .  This Agreement may be executed in multiple originals, each of which will be deemed an original but all of which together will constitute but one and the same instrument.

 

[Remainder of Page Intentionally Left Blank]

 

EQUITY CONTRIBUTION AGREEMENT

 

3



 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as of the Effective Date first set forth above.

 

 

COMPANY:

CVSL INC.

 

 

 

 

 

 

By:

/a/ Kelly Kittrell

 

 

Its:

Chief Financial Officer

 

 

 

 

 

SELLER:

ROCHON CAPITAL PARTNERS, LTD. , a Texas limited partnership

 

 

 

 

 

 

By:

John Rochon Management, Inc., its general partner

 

 

 

 

 

 

/s/ John P. Rochon

 

 

Its:

President

 

 

 

 

EXHIBIT A – STOCK POWER

 

SOLO PAGE

 


Exhibit 11

 

VOTING AGREEMENT

 

This VOTING AGREEMENT (this “ Agreement ”), dated as of March 18, 2013 the “ Effective Date ”), is entered into by and among The Tamala L. Longaberger Revocable Trust (“ Shareholder ”), Rochon Capital Partners, Ltd. (“ RCP ”), and Computer Vision Systems Laboratories, Corp., a Florida corporation (the “ Company ”).

 

RECITALS

 

A.             Pursuant to the terms of that certain Purchase Agreement by and among the Company, Shareholder, The Longaberger Company, TMRCL Holding Company, TMRCL Holding LLC, The Longaberger Company Canada, Tamala L. Longaberger and The Tamala L. Longaberger Revocable Trust dated as of March 18, 2013 (the “ Purchase Agreement ”).  Shareholder is being issued a Convertible Subordinated Unsecured Promissory Note in the amount of $6,500,000 (the “ Note ”).

 

B.             Pursuant to the Purchase Agreement and Note, principal and interest thereon are convertible (the Conversion ”) into up to 32,500,000 shares of $0.00001 par value common stock (“ Common Stock ”) of the Company issued to the Shareholder (the “ Trust Shares ”).

 

C.             RCP owns shares of Common Stock in the Company.

 

In order to serve the business administration needs of the Company, the parties desire to enter into this Agreement, with respect to the voting of the shares of Common Stock owned by Shareholder.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth in this Agreement and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.              Certain Definitions .  The following terms have the respective meanings specified or referred to in this Section 1 .

 

Additional Shares ” means all shares of Common Stock and any other equity securities of the Company which are beneficially owned by Shareholder or any of its Affiliates and are acquired after the date hereof and prior to the termination of this Agreement, other than the Trust Shares.

 

Affiliate ” means as to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person.  For purposes of this definition, the term “control” (including the terms “controlling,” “controlled by” and “under common control with”) of a Person means the possession, directly or indirectly, of the power:  (i) to vote more than fifty percent (50%) of the voting stock of such person; or (ii) to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting stock, by contract or otherwise.

 

1



 

Covered Shares ” means the Trust Shares and the Additional Shares.

 

Person ” means an individual, corporation, limited liability company, partnership, association, trust, unincorporated organization or other entity or group.

 

Transfer ” means, with respect to a security, the transfer, pledge, hypothecation, encumbrance, assignment or other disposition (whether by sale, merger, consolidation, liquidation, dissolution, dividend, distribution or otherwise) of such security or the beneficial ownership thereof, the offer to make such a transfer or other disposition, and each option, agreement, arrangement or understanding, whether or not in writing, to effect any of the foregoing.

 

2.              Voting Agreement .  During the Term of this Agreement, Shareholder agrees that all its right to vote the Covered Shares shall be exercised by RCP.  RCP shall vote the Covered Shares at all meetings and on all matters upon which the holders of Common Stock in the Company are entitled to vote.  RCP shall vote the Covered Shares as RCP, in RCP’s sole discretion, may reasonably deem in the best interests of the shareholders of the Company and the Company.  Without limiting the generality of the foregoing, Shareholder specifically agrees that RCP shall have the right to vote the Covered Shares by written consent in lieu of a meeting.  At any meeting of the shareholders of the Company, however called, or at any adjournment thereof, or in any other circumstance in which the vote, consent or other approval of the shareholders of the Company is sought, RCP shall (i) appear at each such meeting or otherwise cause all Covered Shares to be counted as present thereat for purposes of calculating a quorum and (ii) vote (or cause to be voted), or execute and deliver a written consent (or cause a written consent to be executed and delivered) covering, all Covered Shares.  The execution of this Agreement is a condition to the consummation of the transactions contemplated under the Purchase Agreement.

 

3.              Irrevocable Proxy . Concurrently with the execution of this Agreement, Shareholder agrees to deliver to RCP an irrevocable proxy in the form attached as Exhibit A hereto (the “ Proxy ”), which shall be irrevocable to the extent permitted by applicable law, covering all Covered Shares.  Shareholder hereby represents to RCP that any proxies heretofore given in respect of the Covered Shares are not irrevocable and that any such proxies are hereby revoked, and Shareholder agrees to promptly notify the Company of any such revocation.  Shareholder hereby further affirms that the Proxy is coupled with an interest and may under no circumstances be revoked during the Term.  Without limiting the generality of the foregoing, such irrevocable proxy is executed and intended to be irrevocable in accordance with the provisions of Section 607.0722 of the Florida Business Corporation Act.  If for any reason the proxy granted herein is not irrevocable, Shareholder agrees to vote the Covered Shares in the same manner as RCP.

 

4.              No Adverse Act .  Shareholder hereby covenants and agrees that Shareholder shall not (i) offer to Transfer, Transfer or consent to any Transfer of any or all of the Covered Shares or any interest therein, or enter into any contract, option or other agreement or understanding with respect to any Transfer of any or all Covered Shares or any interest therein without prior written notice to RCP, (ii) grant any proxy, power-of-attorney or other authorization or consent in or with respect to any or all of the Covered Shares (except for the Proxy), (iv) deposit any or

 

2



 

all of the Covered Shares into a voting trust or enter into a voting agreement or arrangement with respect to any or all of the Covered Shares (except this Agreement), or (v) take any other action that would make any representation or warranty of Shareholder contained herein untrue or incorrect in any material respect or in any way restrict, limit or interfere in any material respect with the performance of Shareholder’s obligations hereunder or the transactions contemplated hereby.

 

5.              Additional Agreements .

 

(a)            Certain Events .  In the event of any stock split, stock dividend, merger, reorganization, recapitalization or other change in the capital structure of the Company affecting the Covered Shares or the acquisition of Additional Shares or other securities or rights of the Company by Shareholder or any of its Affiliates, (i) the type and number of Covered Shares shall be adjusted appropriately and (ii) this Agreement and the obligations hereunder shall automatically attach to any additional Covered Shares or other securities or rights of the Company issued to or acquired by Shareholder or any of its Affiliates.

 

(b)            No Contravention .  None of the parties hereto shall take any action or agree to take any action, and each of the parties hereto shall cause its respective Affiliates not to take any action or agree to take any action, that would contravene or otherwise frustrate the intent of this Agreement.

 

(c)            Additional Shares .  Shareholder agrees, while this Agreement is in effect, to notify RCP promptly in writing of the number and description of any Additional Shares.

 

(d)            Liability of RCP .  RCP assumes no responsibility for any action taken by RCP by any agent appointed by RCP, and RCP, whether or not acting under the advice of counsel, shall not incur or be under any responsibility or liability as a shareholder, trustee, fiduciary, or otherwise, by reason of any error or law, or of any matter or thing done or suffered or omitted to be done by RCP under this Agreement.

 

6.              Term .  The term (the “ Term ”) of this Agreement and the Proxy granted pursuant hereto shall commence upon the execution of this Agreement by all parties hereto and shall terminate five (5) years from the Effective Date.

 

7.              Miscellaneous .

 

(a)            Entire Agreement .  This Agreement (together with Exhibit A ) and the Proxy constitute the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes all other prior agreements and understandings, both written and oral, among the parties hereto with respect to the subject matter hereof.

 

(b)            Reasonable Efforts .  Subject to the terms and conditions of this Agreement, each of the parties hereto agrees to use all reasonable efforts to take, or cause to be taken, all actions, and to do, or cause to be done, all things reasonably necessary, proper or advisable under applicable laws to consummate and make effective the transactions contemplated hereby.  At another party’s reasonable request and without further consideration, each party hereto shall execute and deliver such additional documents and take all such further

 

3



 

lawful action as may reasonably be necessary or desirable to consummate and make effective, in the most expeditious manner practicable, the transactions contemplated hereby.  Without limiting the foregoing, Shareholder shall execute and deliver to RCP and any of its designees any additional proxies, including without limitation with respect to Additional Shares, reasonably requested by RCP in furtherance of this Agreement.

 

(c)            No Assignment .  This Agreement shall not be assigned by operation of law or otherwise without the prior written consent of Shareholder (in the case of any assignment by RCP) or RCP (in the case of an assignment by Shareholder); provided that RCP may assign its rights and obligations hereunder to one of its Affiliates without prior written consent.

 

(d)            Amendments .  This Agreement may not be amended, changed, supplemented or otherwise modified except by an instrument in writing signed on behalf of RCP and Shareholder.

 

(e)            Notice .  All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly received) (i) upon receipt, if delivered personally or by first class mail, postage pre-paid, (ii) on the date of transmission, if sent by facsimile transmission (with confirmation of receipt), or (iii) on the business day after dispatch, if sent by nationally recognized, documented overnight delivery service, as follows:

 

The Tamala L. Longaberger Revocable Trust
One Market Square
1500 East Main Street
Newark, OH 43055-8847
Attention:  Tamala L. Longaberger

 

Rochon Capital Partners, Ltd.
2400 N. Dallas Parkway
Suite 230
Plano, TX 75093-4371
Attention:  Heidi Hafer

 

Computer Vision Systems Laboratories, Corp.
2400 N. Dallas Parkway
Suite 230
Plano, TX 75093-4371
Attention:  Heidi Hafer

 

or to such other address or facsimile number as the person to whom notice is given may have previously furnished to the other parties hereto in writing in the manner set forth above.

 

(f)             Severability .  The provisions of this Agreement shall be deemed severable; the invalidity, illegality or unenforceability of any term or provision of this Agreement shall not affect the validity, legality or enforceability of the balance of this Agreement or of any other term hereof, which shall remain in full force and effect.  If any of the provisions hereof are

 

4



 

determined to be invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible.

 

(g)            Remedies .  All rights, powers and remedies provided under this Agreement or otherwise available in respect hereof at law or in equity shall be cumulative and not alternative, and the exercise of any such right, power or remedy by any party hereto shall not preclude the simultaneous or later exercise of any other such right, power or remedy by such party.

 

(h)            No Waiver .  No waiver by any party hereto of any of the provisions of this Agreement shall be effective unless explicitly set forth in writing and signed by the party so waiving.  The failure of any party hereto to exercise any right, power or remedy provided under this Agreement or otherwise available in respect hereof at law or in equity, or to insist upon compliance by any other party hereto with such party’s obligations hereunder, and any custom or practice of the parties at variance with the terms hereof, shall not constitute a waiver by such party of such party’s right to exercise any such or other right, power or remedy or to demand such compliance.

 

(i)             Governing Law .  This Agreement, and all matters arising hereunder or in connection herewith, shall be governed by, and construed in accordance with, the internal laws of the State of Texas without giving effect to the principles of conflict of laws.

 

(j)             Submission to Jurisdiction .  Each party to this Agreement hereby irrevocably and unconditionally consents to the submission to the exclusive jurisdiction of the federal and state courts in Dallas, Texas for any actions, suits or proceedings arising out of or relating to this Agreement or the transaction contemplated hereby.

 

(k)            Waiver of Jury Trial .  EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY.  EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, AND (C) IT MAKES SUCH WAIVERS VOLUNTARILY.

 

(l)             Specific Performance .  The parties hereto agree that RCP and the Company would be irreparably damaged in the event that any of the provisions of this Agreement were not performed by Shareholder in accordance with their specific terms or were otherwise breached by Shareholder, and that RCP and the Company would not have an adequate remedy at law for money damages in such event.  It is accordingly agreed that RCP and the Company shall be entitled, without posting any bond or other undertaking, to specific performance and injunctive and other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which they are entitled at law or in equity.

 

5



 

(m)           Counterparts .  This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which, taken together, shall constitute one and the same agreement.

 

(n)            Expenses .  Except as otherwise provided herein, each party hereto shall pay such party’s own expenses incurred in connection with the negotiation and execution of this Agreement.  If any action is commenced by any party hereto concerning this Agreement, the prevailing party shall recover from the losing party reasonable attorneys’ fees and costs and expenses, including those of appeal and not limited to taxable costs, incurred by the prevailing party, in addition to all other remedies to which the prevailing party may be entitled.

 

(o)            No Ownership Interest .  Nothing contained in this Agreement shall be deemed, upon execution, to vest in RCP any direct or indirect ownership or incidence of ownership of or with respect to any Covered Shares.  All rights, ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to Shareholder.

 

[Signature page follows.]

 

6



 

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the day and year first above written.

 

 

The Tamala L. Longaberger Revocable Trust

 

 

 

By:

/s/ Tamala L. Longaberger

 

Name:

Tamala L. Longaberger

 

Title:

Trustee

 

 

 

Rochon Capital Partners, Ltd.

 

 

 

By:

/s/ John P. Rochon

 

 

John P. Rochon, in his capacity as President of John Rochon Management, Inc., its general partner

 

 

 

Computer Vision Systems Laboratories, Corp.

 

 

 

By:

/s/ Kelly L. Kittrell

 

Name:

Kelly L. Kittrell

 

Title:

Chief Financial Officer

 

SIGNATURE PAGE

 



 

EXHIBIT A

 

FORM OF IRREVOCABLE PROXY

 

The undersigned Shareholder (“ Shareholder ”) of Computer Vision Systems Laboratories, Corp., a Florida corporation (the “ Company ”), hereby (i) irrevocably grants to, and appoints, Rochon Capital Partners, Ltd., a Texas limited partnership (“ RCP ”), and any person designated in writing by RCP, and each of them individually, Shareholder’s proxy and attorney-in-fact (with full power of substitution), for and in the name, place and stead of Shareholder, to vote all of the Covered Shares or grant a consent or approval in respect of the Covered Shares, in accordance with the terms of this proxy (this “ Proxy ”) and (ii) revokes any and all proxies heretofore given in respect of the Covered Shares.

 

This Proxy is granted pursuant to that certain Voting Agreement, dated as of March 18, 2013, by and among Shareholder, RCP and the Company (the “ Voting Agreement ”).  For the purposes of this Proxy, “ Covered Shares ” means (i) all shares of common stock of the Company (“ Common Stock ”) and any other equity securities of the Company which are beneficially owned by Shareholder or any of its Affiliates as of the date hereof and (ii) all shares of Common Stock and any other equity securities of the Company which are beneficially owned by Shareholder or any of its Affiliates and are acquired after the date hereof and prior to the termination of the Voting Agreement.  The Covered Shares as of the date hereof are set forth on the signature page hereof.

 

Shareholder hereby further affirms that the irrevocable proxy set forth in this Proxy is coupled with an interest and may under no circumstances be revoked.  Shareholder hereby ratifies and confirms all that such irrevocable proxy may lawfully do or cause to be done by virtue hereof.  Without limiting the generality of the foregoing, this Proxy is executed and intended to be irrevocable in accordance with the provisions of Section 607.0722 of the Florida Business Corporation Act.

 

The attorneys-in-fact and proxies named above are hereby authorized and empowered by the undersigned at any time after the date hereof and prior to the termination of the Voting Agreement to act as the undersigned’s attorney-in-fact and proxy to vote the Covered Shares, and to exercise all voting, consent and similar rights of the undersigned with respect to the Covered Shares (including, without limitation, the power to execute and deliver written consents), at every annual, special, adjourned or postponed meeting of the shareholders of the Company and in every written consent in lieu of such a meeting:

 

Any obligation of Shareholder hereunder shall be binding upon the successors and assigns of Shareholder.  In the event of a conflict or inconsistency between this Proxy and the Voting Agreement, the Voting Agreement shall control.

 

If any provision of this Proxy or any part of any such provision is held under any circumstances to be invalid or unenforceable in any jurisdiction, then (a) such provision or part thereof shall, with respect to such circumstances and in such jurisdiction, be deemed amended to conform to applicable laws so as to be valid and enforceable to the fullest possible extent, (b) the invalidity or unenforceability of such provision or part thereof under such circumstances and in

 

1



 

such jurisdiction shall not affect the validity or enforceability of such provision or part thereof under any other circumstances or in any other jurisdiction, and (c) the invalidity or unenforceability of such provision or part thereof shall not affect the validity or enforceability of the remainder of such provision or the validity or enforceability of any other provision of this proxy.  Each provision of this Proxy is separable from every other provision of this Proxy, and each part of each provision of this Proxy is separable from every other part of such provision.

 

Dated:                                    , 2013

 

 

The Tamala L. Longaberger Revocable Trust

 

 

 

By:

 

 

Name:

 

 

Title:

 

 

 

 

Address:

 

 

 

 

 

 

 

Shares:

                                               

 

2


 

Exhibit 12

 

IRREVOCABLE PROXY

 

The undersigned Shareholder (“ Shareholder ”) of Computer Vision Systems Laboratories, Corp., a Florida corporation (the “ Company ”), hereby (i) irrevocably grants to, and appoints, Rochon Capital Partners, Ltd., a Texas limited partnership (“ RCP ”), and any person designated in writing by RCP, and each of them individually, Shareholder’s proxy and attorney-in-fact (with full power of substitution), for and in the name, place and stead of Shareholder, to vote all of the Covered Shares or grant a consent or approval in respect of the Covered Shares, in accordance with the terms of this proxy (this “ Proxy ”) and (ii) revokes any and all proxies heretofore given in respect of the Covered Shares.

 

This Proxy is granted pursuant to that certain Voting Agreement, dated as of March 18, 2013, by and among Shareholder, RCP and the Company (the “ Voting Agreement ”).  For the purposes of this Proxy, “ Covered Shares ” means (i) all shares of common stock of the Company (“ Common Stock ”) and any other equity securities of the Company which are beneficially owned by Shareholder or any of its Affiliates as of the date hereof and (ii) all shares of Common Stock and any other equity securities of the Company which are beneficially owned by Shareholder or any of its Affiliates and are acquired after the date hereof and prior to the termination of the Voting Agreement.  The Covered Shares as of the date hereof are set forth on the signature page hereof.

 

Shareholder hereby further affirms that the irrevocable proxy set forth in this Proxy is coupled with an interest and may under no circumstances be revoked.  Shareholder hereby ratifies and confirms all that such irrevocable proxy may lawfully do or cause to be done by virtue hereof.  Without limiting the generality of the foregoing, this Proxy is executed and intended to be irrevocable in accordance with the provisions of Section 607.0722 of the Florida Business Corporation Act.

 

The attorneys-in-fact and proxies named above are hereby authorized and empowered by the undersigned at any time after the date hereof and prior to the termination of the Voting Agreement to act as the undersigned’s attorney-in-fact and proxy to vote the Covered Shares, and to exercise all voting, consent and similar rights of the undersigned with respect to the Covered Shares (including, without limitation, the power to execute and deliver written consents), at every annual, special, adjourned or postponed meeting of the shareholders of the Company and in every written consent in lieu of such a meeting:

 

Any obligation of Shareholder hereunder shall be binding upon the successors and assigns of Shareholder.  In the event of a conflict or inconsistency between this Proxy and the Voting Agreement, the Voting Agreement shall control.

 

If any provision of this Proxy or any part of any such provision is held under any circumstances to be invalid or unenforceable in any jurisdiction, then (a) such provision or part thereof shall, with respect to such circumstances and in such jurisdiction, be deemed amended to conform to applicable laws so as to be valid and enforceable to the fullest possible extent, (b) the invalidity or unenforceability of such provision or part thereof under such circumstances and in such jurisdiction shall not affect the validity or enforceability of such provision or part thereof under any other circumstances or in any other jurisdiction, and (c) the invalidity or

 

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unenforceability of such provision or part thereof shall not affect the validity or enforceability of the remainder of such provision or the validity or enforceability of any other provision of this proxy.  Each provision of this Proxy is separable from every other provision of this Proxy, and each part of each provision of this Proxy is separable from every other part of such provision.

 

Dated as of March 18, 2013

 

 

The Tamala L. Longaberger Revocable Trust

 

 

 

By:

/s/ Tamala L. Longaberger

 

 

Tamala L. Longaberger, Trustee

 

 

 

Address:

 

 

 

One Market Square

 

1599 East Main Street

 

Newark, OH 43055

 

 

 

Shares: 32,500,000

 

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