AMENDMENT #1 TO THE ACQUISITION AND PURCHASE AGREEMENT
EXHIBIT 10.10
AMENDMENT #1 TO THE ACQUISITION AND PURCHASE AGREEMENT
DATED AS OF SEPTEMBER 30, 2016
BY AND BETWEEN
SAN DIEGO MEDIA INC. AND ITS SHAREHOLDERS
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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.
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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/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ III
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ III
Title: President
San Diego Media Inc.
A CALIFORNIA CORPORATION
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇ | |
| Title: CEO & President |
San Diego Media Inc. Shareholders:
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇ | |
| Ownership: 1,900,000 SDM shares or 32.09% |
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇ | |
| Ownership: 1,920,000 SDM shares or 32.43% |
| 3 |
| By: | /s/ ▇▇▇ ▇▇▇▇▇ Name: ▇▇▇ ▇▇▇▇▇ | |
| Ownership: 436,000 SDM shares or 7.36% |
| By: | /s/ ▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇ ▇▇▇▇▇▇ | |
| Ownership: 990,000 SDM shares or 16.72% |
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | |
| Ownership: 100,000 SDM shares or 1.69% |
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇ for ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Mother Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Ownership: 200,000 SDM shares or 3.38% |
| By: | /s/ ▇▇▇ ▇▇▇▇▇ Name: ▇▇▇ ▇▇▇▇▇ | |
| Ownership: 300,000 SDM shares or 5.07% |
| By: | /s/ ▇▇▇▇ ▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇ | |
| Ownership: 75,000 SDM shares or 1.27% |
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DRAFT