Amendment #1 to Acquisition & Purchase Agreement between TPT Global Tech, Inc. and San Diego Media, Inc. (12.9.16)

EX-10.10 39 ex10_10.htm AMEND #1 TO ACQUISITION TPT/SAN DIEGO MEDIA

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

 

 

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

1.1of 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.

 

 

 

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%

 

 

 

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%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DRAFT