<SEC-DOCUMENT>0000891092-13-009599.txt : 20131125
<SEC-HEADER>0000891092-13-009599.hdr.sgml : 20131125
<ACCEPTANCE-DATETIME>20131125165718
ACCESSION NUMBER:		0000891092-13-009599
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131119
ITEM INFORMATION:		Changes in Control of Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131125
DATE AS OF CHANGE:		20131125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALICO INC
		CENTRAL INDEX KEY:			0000003545
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		IRS NUMBER:				590906081
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-00261
		FILM NUMBER:		131241634

	BUSINESS ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913
		BUSINESS PHONE:		239-226-2000

	MAIL ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALICO LAND DEVELOPMENT CO
		DATE OF NAME CHANGE:	19740219
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e56363_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in; border-bottom: black 1pt solid">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center"><B>FORM 8-K </B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in; border-bottom: black 1pt solid">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF
THE </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><B>Date of Report (date of earliest event
reported): November 19, 2013</B></P>

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in; border-bottom: black 1pt solid">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-align: center"><B>Alico, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
its charter) </B></P>

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in; border-bottom: black 1pt solid">&nbsp;</P>

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    <TD STYLE="font-size: 12pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Florida</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0-261</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>59-0906081</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Commission</B></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>File Number)</B></P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>Identification No.)</B></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><B>10070 Daniels Interstate Court </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Fort Myers, Florida, 33913 </B></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive offices)
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: center"><B>Registrant&rsquo;s telephone number:
(239) 226-2000 </B></P>

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: center; text-indent: 0.5in; border-bottom: black 1pt solid">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act (17 C.F.R. 230.425) </FONT></TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 C.F.R. 240.14a-12) </FONT></TD></TR>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14D-2(b)) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font: 10pt Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 C.F.R. 240.13e-4(c)) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Section 5</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Item 5.01</P></TD>
    <TD STYLE="width: 89%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Corporate Governance and Management</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Changes in Control of Registrant</B></P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">On November 19, 2013, 734 Investors,
LLC (the &ldquo;Buyer&rdquo;), an investment fund affiliated with 734 Agriculture, LLC (&ldquo;734 Agriculture&rdquo;) and George
R. Brokaw, a Member of 734 Agriculture and the Buyer&rsquo;s designee (the &ldquo;Designee&rdquo;), completed the previously announced
purchase from Alico Holding, LLC (the &ldquo;Seller&rdquo;), a company wholly owned by Atlantic Blue Group, Inc., of 3,725,457
shares of common stock, par value $1 per share, of Alico, Inc. (the &ldquo;Company&rdquo; and the &ldquo;Common Stock&rdquo;),
owned by the Seller for $37.00 per share, for an aggregate purchase price of approximately $137,841,909 in cash (the &ldquo;Share
Purchase&rdquo;). The Buyer used equity investments from its members of approximately $123,410,000 and debt financing of $13,691,909
to fund its portion of the purchase price. The Designee used cash on hand to fund his portion of the purchase price.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The Company Common Stock acquired by
the Buyer and the Designee represents approximately 51% of the Company&rsquo;s outstanding voting securities. On November 15, 2013,
the Buyer amended and restated its LLC operating agreement (the &ldquo;LLC Agreement&rdquo;) to admit new members and to designate
734 Agriculture as the managing member, with authority to administer the affairs of the Buyer, including the voting and disposition
of shares of Common Stock, subject to certain restrictions set forth therein. The Buyer also entered into an agreement with the
Designee (the &ldquo;Designee Agreement&rdquo;), dated as of November 15, 2013, providing that the Designee will vote the shares
of the Company&rsquo;s Common Stock acquired in the Share Purchase as directed by the Buyer and will not transfer, sell or otherwise
dispose of those shares except pro rata with the Buyer&rsquo;s disposition of its shares of the Company&rsquo;s Common Stock. As
a result, upon the consummation of the Share Purchase, the Buyer and 734 Agriculture will have the voting power to control the
election of the Company&rsquo;s directors and any other matter requiring the affirmative vote or consent of the Company shareholders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The LLC Agreement also provides that
the Buyer and 734 Agriculture will cause one of the directors of the Company so elected (or two, if the Company&rsquo;s Board of
Directors (the &ldquo;Board&rdquo;) is comprised of eleven or more members) to be an individual or individuals nominated by an
affiliate of Arlon Group, so long as such nominee(s) satisfies certain conditions set forth in the LLC Agreement, including compliance
with director independence and other criteria of the Company, the Nasdaq Global Select Stock Market (&ldquo;Nasdaq&rdquo;) and
the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) and applicable provisions of the Securities Exchange Act of 1934
(the &ldquo;Exchange Act&rdquo;), and qualification to serve as a director under the laws of the State of Florida.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">The Company is not a party to the LLC
Agreement or the Designee Agreement. The information contained in this Current Report on Form 8-K concerning the LLC Agreement
and the Designee Agreement has been furnished to the Company by the Buyer and 734 Agriculture, and the Company assumes no responsibility
for the accuracy of any such information.</P>


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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Section 5</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Item 5.02</P></TD>
    <TD STYLE="width: 89%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Corporate Governance and Management</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Departure of Directors or Certain Officers;
        Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><U>Appointment of Directors; Resignation
of Directors</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">With the closing of the Share Purchase,
the <FONT STYLE="text-underline-style: none; color: windowtext">previously announced election of the </FONT>following individuals
to the Company&rsquo;s board of directors (the &ldquo;Board&rdquo;)<FONT STYLE="text-underline-style: double; color: windowtext"><U>
</U></FONT><FONT STYLE="text-underline-style: none; color: windowtext">became effective</FONT>: Mr. Brokaw, Member of 734 Agriculture;
Remy W. Trafelet, Manager of 734 Agriculture; W. Andrew Krusen, Chairman and CEO of Dominion Financial Group; Benjamin D. Fishman,
Managing Principal of Arlon<FONT STYLE="text-underline-style: none; color: windowtext"> Group</FONT>; Henry R. Slack, former Chairman
of the Board of Terra Industries, Inc. and Senior Partner of Quarterwatch, LLC; Clayton G. Wilson, former CEO of 734 Citrus Holdings,
LLC d/b/a Silver Nip Citrus (&ldquo;Silver Nip&rdquo;) and Chairman of the Board Latt Maxcy Corporation; and R. Greg Eisner, Head
of Strategy of Dubin &amp; Company, LLC. <FONT STYLE="text-underline-style: none; color: windowtext">In accordance with the LLC
Agreement,</FONT><FONT STYLE="text-underline-style: double; color: windowtext"><U> </U></FONT>Arlon Group proposed that Mr. Fishman
be included in the slate of new directors to be elected to the Board. Biographical information on each of the directors elected
to the Board can be found in the Company&rsquo;s Schedule 14f-1 filed with the SEC on November 8, 2013 (the &ldquo;Schedule 14f-1&rdquo;),
under the section entitled &ldquo;Directors Designated by 734 Investors&mdash;734 Investors&rsquo; Designees,&rdquo; which is incorporated
by reference into this Item 5.02.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Ramon A. Rodriguez <FONT STYLE="color: windowtext">remained</FONT>
on the Board and will continue to serve as director of the Company following the Share Purchase. In addition, Adam D. Compton,
who previously resigned subject to and effective upon the closing of the Share Purchase, was reelected to the Board on November
22, 2013. Biographical information on Messrs. Rodriguez and Compton can be found in the Schedule 14f-1 under the section entitled
&ldquo;Board of Directors,&rdquo; which is incorporated by reference into this Item 5.02.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">Upon the Closing of the Share Purchase,
the following individuals ceased to be directors of the Company pursuant to their previously disclosed resignations: JD Alexander,
Dykes Everett, Thomas H. McAuley, Charles L. Palmer, John D. Rood, and Gordon Walker, PhD. Mr. Robert J. Viguet, Jr. resigned from
the Board on November 21, 2013.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">In connection with the change in the
membership of the Board:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Mr. Slack was appointed to serve as Chairman of the Board;</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Messrs. Trafelet (Chair), Brokaw, Fishman and Slack were appointed to
serve as members of the Executive Committee of the Board; </FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Messrs. Rodriguez (Chair), Compton and Krusen were appointed to serve
as members of the Audit Committee of the Board;</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Messrs. Eisner (Chair), Brokaw and Krusen were appointed to serve as
members of the Compensation Committee of the Board; and</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 12pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Messrs. Brokaw (Chair), Compton, Eisner and Fishman were appointed to
serve as members of the Nominations and Governance Committee of the Board.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><U>Appointment of Mr. Wilson as the Company&rsquo;s
Chief Executive Officer</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Upon the closing of the Share Purchase,
Mr. Alexander ceased to be the Company&rsquo;s CEO pursuant to his previously disclosed resignation. On November 22, 2013, the
Board <FONT STYLE="text-underline-style: none; color: windowtext">appointed</FONT> Mr. Wilson to serve as the Company&rsquo;s Chief
Executive Officer (&ldquo;CEO&rdquo;), effective immediately. Mr. Wilson also resigned from his position as CEO of Silver Nip effective
the same date. Biographical information on Mr. Wilson can be found in the Company&rsquo;s Schedule 14f-1 under the section entitled
&ldquo;Directors Designated by 734 Investors&mdash;734 Investors&rsquo; Designees&mdash;Mr. Clayton G. Wilson,&rdquo; which is
incorporated by reference into this Item 5.02. The Company expects to negotiate and enter into an employment agreement with Mr.
Wilson, which will provide for compensation and other terms of employment appropriate for his position with the Company. During
the interim period beginning on November 22, 2013 and ending when a definitive employment agreement with Mr. Wilson becomes effective,
Mr. Wilson&rsquo;s compensation will be equivalent to the compensation he previously received as CEO of Silver Nip<FONT STYLE="text-underline-style: none; color: windowtext">,
which is expected to consist of an annual base salary of $150,000 and customary fringe benefits (including employee welfare and
retirement benefits) provided to executive officers of the Company</FONT>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><U>Silver Nip Agreement</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">On November 22, 2013, the Company entered
into an employee lease agreement with Mr. Wilson and Silver Nip (the &ldquo;Silver Nip Agreement&rdquo;). Silver Nip is owned and
controlled by Messrs. Brokaw, Trafelet and Wilson.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Silver Nip Agreement provides, subject
to the terms and conditions set forth therein, for the Company to furnish Mr. Wilson&rsquo;s services to Silver Nip to perform
the functions and services that Mr. Wilson <FONT STYLE="text-underline-style: none; color: windowtext">has </FONT>previously performed
for Silver Nip prior to his resignation as CEO of Silver Nip (the &ldquo;Resignation Date&rdquo;). The Silver Nip Agreement provides
that Mr. Wilson will spend a majority of his working time performing functions and services for the Company and that in no event
will Mr. Wilson be required to take any action that he or the Company determines could conflict with Mr. Wilson&rsquo;s exercise
of his fiduciary duties under applicable law owed to the Company or could interfere with the performance of his duties as an executive
officer of the Company. In exchange for furnishing Mr. Wilson&rsquo;s services, Silver Nip has agreed to pay to the Company the
cash salary that would have been paid to Mr. Wilson pursuant to his previous employment arrangement with Silver Nip, had that arrangement
continued to be in force.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Silver Nip Agreement <FONT STYLE="text-underline-style: none; color: windowtext">continues
through</FONT> December 31, <FONT STYLE="text-underline-style: none; color: windowtext">2013.</FONT> If neither the Company nor
Silver Nip has provided the other with written notice of an intention to terminate the Silver Nip Agreement at least three business
days before December 31, 2013 (or any subsequent renewal period), the Silver Nip Agreement will automatically renew for a one month
period. <FONT STYLE="text-underline-style: none; color: windowtext"> In addition, Silver Nip may terminate the Silver Nip Agreement
at any time upon 10 business days&rsquo; prior written notice to the Company.</FONT> The description of the Silver Nip Agreement
set forth under this</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Item 5.02 is qualified in its entirety by reference to the
complete terms and conditions of the agreement, which is attached hereto as Exhibit 10.1.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Section 9</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Item 9.01</P></TD>
    <TD STYLE="width: 89%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial Statements and Exhibits</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial Statements and Exhibits</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>(d) Exhibits.&#9;</B></P>

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    <TD STYLE="width: 17%; border-bottom: windowtext 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; font: 10pt Calibri, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 80%; border-bottom: windowtext 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Employee Lease Agreement, dated as of November 22, 2013, by and between Alico, Inc., 734 Citrus Holdings, LLC and Clayton G. Wilson</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TR>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; font-size: 11pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ALICO, INC.</B></FONT></TD>
    <TD STYLE="padding-bottom: 10pt; font-size: 11pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; font-size: 11pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date: November 25, 2013</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; border-bottom: black 0.75pt solid">/s/ W. Mark Humphrey</FONT></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">W. Mark Humphrey</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 7.5pt"><FONT STYLE="font: 7.5pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 344px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

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    <TD STYLE="width: 17%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 80%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Employee Lease Agreement, dated as of November 22, 2013, by and between Alico, Inc., 734 Citrus Holdings, LLC and Clayton G. Wilson</FONT></TD></TR>
</TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<DESCRIPTION>EMPLOYEE LEASE AGREEMENT
<TEXT>
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<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right; text-indent: 0in"><B>Exhibit 10.1</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>EMPLOYEE LEASE AGREEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">THIS EMPLOYEE LEASE
AGREEMENT (this &#8220;<U>Agreement</U>&#8221;) is executed effective as of November 22, 2013, by and between 734 CITRUS HOLDINGS,
LLC, a Florida limited liability company (&#8220;<U>Silver Nip</U>&#8221;), ALICO, INC., a Florida corporation (&#8220;<U>Alico</U>&#8221;),
and CLAYTON G. WILSON (the &#8220;<U>Officer</U>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>Statement of Background
Information</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Officer,
who previously served as chief executive officer of Silver Nip, resigned from such employment effective November 22, 2013 (the
&#8220;<U>Resignation Date</U>&#8221;) and was appointed to serve as the chief executive officer of Alico effective November 22,
2013; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, Silver
Nip desires to lease the services and skills of the Officer from Alico, and Alico desires to maintain the employment of such Officer
and to make the services and skills of such Officer available to Silver Nip on a contract basis, during the period immediately
following the date hereof; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the parties
desire to set forth the terms and conditions pursuant to which this employee leasing arrangement will operate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>Agreement</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE,
in consideration of the promises and mutual covenants set forth herein, and other good and valuable consideration, the parties
hereby agree as follows:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.9pt">ARTICLE 1&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B><U>DEFINITIONS</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For the purposes
of this Agreement and, unless otherwise noted, the capitalized terms have the meanings specified in the Purchase Agreement to which
this Agreement relates and also shall include the following terms:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Agreement</U>&#8221;
has the meaning set forth in the preamble hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Alico</U>&#8221;
has the meaning set forth in the preamble hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Alico
Indemnified Persons</U>&#8221; has the meaning set forth in <U>Section 3.2</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Code</U>&#8221;
shall mean the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>ERISA</U>&#8221;
shall mean the Employee Retirement Income Security Act of 1974, as amended.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Initial
Term</U>&#8221; has the meaning set forth in <U>Section&nbsp;2.2</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Losses</U>&#8221;
has the meaning set forth in <U>Section 3.2</U>.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Officer</U>&#8221;
has the meaning set forth in the Recitals.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Officer&#8217;s
Agreement</U>&#8221; has the meaning set forth in <U>Section 3.1</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Resignation
Date</U>&#8221; has the meaning set forth in the Recitals.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Service
Costs</U>&#8221; has the meaning set forth in <U>Section 3.1</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Silver
Nip</U>&#8221; has the meaning set forth in the preamble hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&#8220;<U>Term</U>&#8221;
has the meaning set forth in <U>Section&nbsp;2.2</U>.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; text-align: center"> ARTICLE 2&nbsp;</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B><U>RESPONSIBILITIES
OF &nbsp;ALICO</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 2.1&#9;<U>Provision
of Officer</U>. Subject to the terms and conditions hereof, Alico shall furnish to Silver Nip during the Term the Officer to perform
the functions and services that were performed by the Officer for Silver Nip prior to the Resignation Date, with such additions
and deletions thereto as shall occur in the ordinary course of business in a manner consistent with this Agreement; <U>provided</U>
that (a) the Officer shall spend a majority of his working time performing functions and services for Alico and (b) in no event
shall the Officer be required to take any action that such Officer or Alico determines could conflict with such Officer&#8217;s
exercise of his fiduciary duties under applicable law owed to Alico or could interfere with the performance of his duties as an
executive officer of Alico. During the Term, Alico shall use its reasonable efforts to cause the Officer to continue to be employed
by Alico.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Section 2.2&#9;<U>Term of Agreement</U>.
The term of this Agreement with respect to the Officer shall commence as of the date of this Agreement and shall continue in full
force and effect until the earlier of (i) the date on which the Officer ceases to be employed by Alico and (ii) December 31, 2013,
unless terminated earlier by Silver Nip upon at least ten (10) Business Days&#8217; prior written notice to Alico (the &#8220;<U>Initial
Term</U>&#8221;). If neither Alico nor Silver Nip has provided the other with written notice of an intention to terminate this
Agreement at least three (3) Business Days before the end of the Initial Term (or any subsequent renewal period), this Agreement
will automatically renew for a one (1) month period. The &#8220;<U>Term</U>&#8221; shall mean the Initial Term and any extensions
of the Initial Term pursuant to the preceding sentence. This Agreement shall terminate upon the expiration of the Term,<I> </I>at
which point Alico will have no further obligation to provide the services of the Officer and Silver Nip shall have no obligation
to pay any costs related to such services as provided in <U>Section 3.1</U>; <U>provided</U>, <U>however</U>, that notwithstanding
such termination, (i) Silver Nip shall remain liable to Alico for the costs set forth in <U>Section 3.1</U> in respect of periods
ending on or prior to the effective date of such termination, and (ii) the provisions of <U>Article 3</U> and <U>Section 6.2</U>
shall survive any such termination.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 2.3&#9;<U>Cessation
as Officer</U>. For the avoidance of doubt, in the event that the Officer ceases to be an employee of Alico during the Term, Alico
or such Officer shall have no obligation to replace such individual under this Agreement.</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.3in; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.3in; text-align: center; text-indent: -0.3in">ARTICLE
3</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.9pt"><B><U>RESPONSIBILITIES
OF SILVER NIP AND ALICO</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 3.1&#9;<U>Reimbursement
of Costs.</U> As consideration for making the Officer available to provide the services under this Agreement, Silver Nip shall
pay Alico, not later than three business days before each payroll date for the Officer, the Service Costs for the corresponding
payroll period. The &#8220;<U>Service Costs</U>&#8221; for any payroll period shall mean all salary payments that would have been
required to be made to the Officer pursuant to Section 3(a) of that certain Employment Agreement (the &#8220;<U>Officer&#8217;s
Agreement</U>&#8221;), dated as of December 31, 2012, between the Officer and Silver Nip, had such Officer&#8217;s Agreement been
in effect during such payroll period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 3.2&#9;<U>Indemnification
and Limitation of Liability</U>. Silver Nip agrees to protect, indemnify, and hold harmless Alico and its affiliates, and its and
their respective stockholders, members, managers, officers, directors, employees (including the Officer), advisors and agents (&#8220;<U>Alico
Indemnified Persons</U>&#8221;) from and against and in respect of any loss, liability, damages, cost or expense (including legal
fees and expenses and any amounts paid in settlement (collectively, &#8220;<U>Losses</U>&#8221;) suffered by Alico Indemnified
Persons resulting from, arising out of or based on this Agreement, the furnishing of the Officer contemplated hereby, or otherwise
relating to, resulting from, arising out of or based upon the provision of services by the Officer during the Term, including without
limitation Losses relating to employment litigation and/or actions taken by the Officer in the workplace or in the course of his
provision of services, other than any Losses resulting solely from, arising solely out of or based solely on Alico Indemnified
Persons&#8217; gross negligence or willful misconduct. It is understood and agreed that any action or failure to act by any Alico
Indemnified Person at the request of Silver Nip shall not be deemed to constitute gross negligence or willful misconduct.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.9pt">ARTICLE 4&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in"><B><U>EMPLOYMENT
TAX REPORTING</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0.5in">Consistent with the
Officer being employed by Alico during the Term, Alico shall respond to all questions and inquiries from Silver Nip, state and
federal agencies, and other persons regarding payroll and employment data and history relating to the Officer for periods of employment
during the Term. Alico and Silver Nip agree that, pursuant to the &#8220;Standard Procedure&#8221; provided in Section 4 of Revenue
Procedure 96-60, 1996-53 I.R.B. 1 (dealing with the filing and furnishing of Internal Revenue Service Forms W&#45;2, W-3 and 941
for transferred employees), each party shall be responsible for the tax withholding, paying over and reporting, associated with
the compensation paid by such party to the Officer for his service as such party&#8217;s employee during the 2013 calendar year.
Any year-end adjustments for time worked and reported relating to the portion of the 2013 calendar year will be paid by Silver
Nip to Alico upon Alico&#8217;s notification and provision of written explanation to Silver Nip of such adjustments. The Officer
consents to the sharing of information described in the foregoing paragraph.</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.9pt">ARTICLE 5</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.9pt"><B><U>RELATIONSHIP
OF PARTIES</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 5.1&#9;<U>Delivery
of Information; Cooperation Between the Parties</U>. Silver Nip and Alico shall provide each other with all such information and
materials reasonably necessary to effect Alico&#8217;s and Silver Nip&#8217;s prompt and complete performance of their duties and
obligations under this Agreement. The Officer consents to the sharing of information described in the foregoing sentence. Silver
Nip, Alico and the Officer agree that they shall cooperate with each other and shall act in such a manner as to promote the prompt
and efficient completion of the obligations hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 5.2&#9;<U>Confidentiality</U>.
Each party shall maintain the confidentiality of all information disclosed pursuant to this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 5.3&#9;<U>Contractor
Relationship</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(a)&#9;Notwithstanding any provision hereof
to the contrary, nothing herein shall be construed as giving Silver Nip primary direction or control over the Officer or the time,
location, manner or method in which he performs the services hereunder. The parties stipulate and agree that (i)&nbsp;each of Alico
and the Officer is an independent contractor with respect to its, his or her duties to Silver Nip; and (ii)&nbsp;this Agreement
identifies the work to be performed by Alico, but does not reserve to Silver Nip primary direction or control in the time, location,
manner or method in which such services are to be performed. This Agreement does not create the relationship of an employer and
employee as between Silver Nip and the Officer. During the Term, the Officer shall be and remain an employee of Alico and may be
disciplined, transferred or discharged only by Alico.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(b)&#9;None of Silver Nip, Alico or the
Officer shall represent to any party that the Officer is an employee of Silver Nip, or that his relationship to Silver Nip is other
than that of an independent contractor.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 5.4&#9;<U>Liability
Insurance Coverages</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(a)&nbsp;&#9;Alico shall obtain and keep
in force at all times during the Term liability insurance coverage relating to the acts, omissions or employment of the Officer,
including general liability and workers compensation, as though the Officer had remained assigned to a facility operated by Alico.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(b)&#9;Silver Nip shall obtain all necessary
property and casualty and other liability coverage with respect to the premises at which the Officer performs services, and with
respect to any acts, omissions or the use of the Officer as is prudent under the circumstances.</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.9pt">ARTICLE 6</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.9pt"><B><U>MISCELLANEOUS</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.1&#9;<U>Captions;
Construction</U>. The headings of Articles and Sections in this Agreement are provided for convenience only and will not affect
its construction or interpretation. All references to &#8220;Article,&#8221; &#8220;Articles,&#8221; &#8220;Section&#8221; or &#8220;Sections&#8221;
refer to the corresponding Article, Articles, Section or Sections of this Agreement unless specifically referenced to the contrary.
All words used in this Agreement will be construed to be of such gender or number as the circumstances require. Unless otherwise
expressly provided, the word &#8220;including&#8221; does not limit the preceding words or terms.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.2&#9;<U>Governing
Law</U>. This Agreement will be governed by and construed and enforced in accordance with (and all disputes arising with respect
to this Agreement shall be governed by) the laws of the State of Florida regardless of the laws that might otherwise govern under
applicable principles of conflict of laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.3&#9;<U>Counterparts</U>.
This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement
and all of which, when taken together, will be deemed to constitute one and the same agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.4&#9;<U>Notices</U>.
All notices and other communications given or made pursuant hereto shall be in writing and delivered by hand or sent by registered
or certified mail (postage prepaid, return receipt requested) or by nationally recognized overnight air courier service and shall
be deemed to have been duly given or made as of the date delivered if delivered personally, or if mailed, on the third business
day after mailing (on the first business day after mailing in the case of a nationally recognized overnight air courier service)
to the parties at the following addresses:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0in">If to Silver Nip:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">181 Highway 630 East</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Frostproof, FL 33843</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Attn: Chief Executive Officer</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Facsimile: 863-635-7446</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If to Alico or to the Officer:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">10070 Daniels Interstate Court</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Suite 100</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Fort Myers, FL 33913</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Attn: Chief Executive Officer</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Facsimile: 239-226-2004</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.5&#9;<U>Assignment</U>.
This Agreement shall inure to the benefit of and be binding on the successors, assigns and legal representatives of each of the
parties; <U>provided</U>, <U>however</U>,</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">that no party shall assign this Agreement
without the written consent of each of the other parties and any attempted assignment without said consent shall be null, void
and without any effect <I>ab initio</I>; and, <U>provided</U>, <U>further</U>, that no such assignment by either party shall release
the assignor from its obligations hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.6&#9;<U>Entire
Agreement; Amendment</U>. This Agreement supersedes all prior agreements between the parties hereto with respect to its subject
matter and constitutes (along with the documents referred to in this Agreement) a complete and exclusive statement of the terms
of the agreement between the parties with respect to its subject matter. This Agreement may not be amended except by a written
agreement executed by all parties hereto. A waiver by a party of the performance of any covenant, agreement, obligation, condition,
representation or warranty will not be construed as a waiver of any other covenant, agreement, obligation, condition, representation
or warranty. A waiver by any party of the performance of any act will not constitute a waiver of the performance of any other act
or an identical act required to be performed at a later time.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.7&#9;<U>Expenses</U>.
Except as otherwise provided in this Agreement, each party shall pay its own expenses and costs of attorneys, accountants and consultants.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.8&#9;<U>Severability</U>.
If any provision of this Agreement is held to be illegal, invalid or unenforceable, that provision will be fully severable and
this Agreement will be construed and enforced as if the illegal, invalid or unenforceable provision had never been part of this
Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Section 6.9&#9;<U>No
Third Party Beneficiaries</U>. Nothing in this Agreement, express or implied, is intended to confer upon any person or other entity
other than Alico, Silver Nip or their respective successors or permitted assigns any rights or remedies under or by reason of this
Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><I>[Signature Page
Follows]</I></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">IN WITNESS WHEREOF, each of the parties
hereto has caused this Agreement to be signed as of the date first above written.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 4in">734 CITRUS HOLDINGS, LLC<BR> <BR> <BR> By: <U>/s/
Remy W.
Trafelet&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name: <U>Remy W.
Trafelet&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;</U><BR>
Title: <U>&#9;Member&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 4in">ALICO, INC.<BR> <BR> <BR> By: <U>/s/ Ken
Smith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name: <U>Ken
Smith&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;</U><BR>
Title: <U>EVP and
COO&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 4in">CLAYTON G. WILSON<BR>
<BR>
<BR>
By: <U>/s/ Clayton G. Wilson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 3in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><I>[Signature
Page to Management Agreement]</I></FONT></P>

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