Amendment #1 to Acquisition & Purchase Agreement between TPT Global Tech, Inc. and San Diego Media, Inc. (12.9.16)
EXHIBIT 10.10
AMENDMENT #1 TO THE ACQUISITION AND PURCHASE AGREEMENT
DATED AS OF SEPTEMBER 30, 2016
BY AND BETWEEN
TPT GLOBAL TECH, INC. AND
SAN DIEGO MEDIA INC. AND ITS SHAREHOLDERS
1 |
AMENDMENT #1 TO THE ACQUISITION AND PURCHASE AGREEMENT
This AMENDMENT, dated as of December 9, 2016, (the "Amendment #1"), is by and between TPT Global Tech, Inc. ("TPTG"), a Florida Corporation and the shareholders of San Diego Media Inc. (“Shareholders”) and San Diego Media Inc., a California Corporation(“SDM”).
WHEREAS, the Board of Directors of TPTG and the Shareholders and the Board of Directors of SDM entered into a Acquisition and Purchase Agreement dated as of September 30, 2016, (“Agreement”), by and between TPTG, SDM and Shareholders;
WHEREAS, TPTG, SDM and Shareholders agree to amend Agreement in regards to consideration paid;
NOW, THEREFORE, TPTG, SDM and Shareholders agree to amend Article I, Section
1.1 | of the Agreement to read as follows: |
ARTICLE I
THE CONSIDERATION
SECTION 1.01 Consideration for Acquisition. The consideration deliverable at Closing (as herein defined) by TPTG to Shareholders isDRA FT as follows: In consideration for the Purchased Shares as well as assets, liabilities, intellectual property, and technology of SDM as listed on Exhibit B, collectively,
a) | the Purchaser shall issue 750,0000 shares of Common Stock of TPTG with the rights and privileges equal to all common stock of TPTG. |
All other terms and conditions of the Agreement shall not be modified in this Amendment #1 and shall remain in full force and effect and be considered incorporated herein as part of Amendment #1.
2 |
IN WITNESS WHEREOF, the parties hereto have caused this Amendment #1 to be duly executed as of the 9th of December 2016.
TPT GLOBAL TECH, INC.
A FLORIDA CORPORATION
By: /s/ Stephen J. Thomas III
Name: Stephen J. Thomas III
Title: President
San Diego Media Inc.
A CALIFORNIA CORPORATION
By: | /s/ Brian Kent Name: Brian Kent | |
Title: CEO & President |
San Diego Media Inc. Shareholders:
By: | /s/ Brian Kent Name: Brian Kent | |
Ownership: 1,900,000 SDM shares or 32.09% |
By: | /s/ Karen Kent Name: Karen Kent | |
Ownership: 1,920,000 SDM shares or 32.43% |
3 |
By: | /s/ Pat Grant Name: Pat Grant | |
Ownership: 436,000 SDM shares or 7.36% |
By: | /s/ Ron Monark Name: Ron Monark | |
Ownership: 990,000 SDM shares or 16.72% |
By: | /s/ Chris Copeland Name: Chris Copeland | |
Ownership: 100,000 SDM shares or 1.69% |
By: | /s/ Brian Kent for Kathleen Marrow, Mother Name: Kathleen Marrow | |
Ownership: 200,000 SDM shares or 3.38% |
By: | /s/ Rob Jenks Name: Rob Jenks | |
Ownership: 300,000 SDM shares or 5.07% |
By: | /s/ Josh Hitt Name: Josh Hitt | |
Ownership: 75,000 SDM shares or 1.27% |
4 |
DRAFT