Local Corporation Repricing Letter for Warrant to Purchase Common Stock
Local Corporation has notified the holder of a Warrant to Purchase Common Stock that the exercise price of the warrant has been reduced to $2.10, effective immediately and lasting until the warrant's expiration date. The company has issued a replacement warrant reflecting this new price. The letter is signed by the company's Chief Financial Officer and provides contact information for further questions.
Exhibit 10.1
February 7, 2013
Name
Address 1
Address 2
Re: Notice of Change In Exercise Price
Dear :
Pursuant to Section 2(c) of that certain Warrant to Purchase Common Stock, Warrant No.: , issued to [Name] (the “Warrant”), [Name] is hereby notified that Local Corporation (formerly Local.com Corporation] (hereinafter, the “Company”) has elected to lower the Exercise Price (as defined in the Warrant) of the Warrant to $2.10 effective immediately and continuing through the Expiration Date (as defined in the Warrant) of the Warrant.
Enclosed please find a new warrant replacing the Warrant, reflecting the new Exercise Price.
If you should have any questions, please do not hesitate to contact Scott Reinke, General Counsel of the Company at ###-###-####.
Sincerely,
Kenneth Cragun
Chief Financial Officer
