Exhibit 4.2.91
AMENDMENT NO. 5
---------------
TO
--
SECURITIES PURCHASE AGREEMENT
-----------------------------
This Amendment No. 5 (this "Amendment"), dated as of July 27, 2006, to the
Securities Purchase Agreement, dated as of June 4, 2004 (the "Purchase
Agreement"), as amended, is by and among Salon Media Group, Inc., a Delaware
corporation (the "Company"), and a majority of Purchasers who are signatories to
the Purchase Agreement, as Amended. Capitalized terms used but not defined
herein shall have the meanings ascribed to them in the Purchase Agreement.
RECITALS
--------
WHEREAS, the Company has held Four Closings of the sale of Shares and
issuance of the Warrants and wishes to sell additional Shares and issue
additional Warrants; and
WHEREAS, Section 9.4 of the Purchase Agreement provides that any term
thereof may be amended with the written consent of the Company and the holders
of at least a majority of the Common Stock issued or issuable upon conversion of
the Shares then outstanding; and
WHEREAS, the Company and the undersigned Purchasers who hold at least a
majority of the Common Stock issued or issuable upon conversion of the Shares
currently outstanding are in favor of and consent to this Amendment.
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. Amendments.
-----------
Schedule A of the Purchase Agreement is hereby amended and
restated as follows:
SCHEDULE A
Series D-1 issuance on June 4, 2004
Purchaser Purchase Price Shares Warrants
----------------------------------------------- ------------------ --------------- ---------------
Xxxx Xxxxxxx 249,600.00 208 402,580
The Xxxxxxxxx 1980 Revocable Trust 175,200.00 146 282,580
HAMCO Capital Corporation 50,400.00 42 81,290
Xxxxxxx X Xxxxx Holdings, Inc. 25,200.00 21 40,645
------------------ --------------- ---------------
500,400.00 417 807,095
================== =============== ===============
Series D-2 issuance on September 30, 2004
Purchaser Purchase Price Shares Warrants
----------------------------------------------- ----------------- --------------- ---------------
Xxxx Xxxxxxx 249,600.00 208 340,363
----------------- --------------- ---------------
249,600.00 208 340,363
================= =============== ===============
Series D-2 issuance on February 2, 2005
Purchaser Purchase Price Shares Warrants
----------------------------------------------- ----------------- --------------- ---------------
The Xxxxxxxxx 1980 Revocable Trust 225,600.00 188 307,636
HAMCO Capital Corporation 25,200.00 21 34,363
----------------- --------------- ---------------
250,800.00 209 341,999
================= =============== ===============
Series D-3 issuance on December 21, 2005
Purchaser Purchase Price Shares Warrants
----------------------------------------------- ----------------- --------------- ---------------
Xxxxx and Xxxxxxx Xxxxxxxxx 250,800.00 209 404,516
----------------- --------------- ---------------
250,800.00 209 404,516
================= =============== ===============
Series D-3 issuance on July 27, 2006
Purchaser Purchase Price Shares Warrants
----------------------------------------------- ----------------- --------------- ---------------
The Xxxxxxxxx 1980 Revocable Trust 150,000.00 125 181,940
Xxxx X. and Xxxxx X. Xxxxxxx 99,600.00 83 120,808
----------------- --------------- ---------------
249,600.00 208 302,748
================= =============== ===============
Series D-4 issuance on July 27, 2006
Purchaser Purchase Price Shares Warrants
----------------------------------------------- ----------------- --------------- ---------------
Xxxx X. and Xxxxx X. Xxxxxxx 50,400.00 42 61,131
----------------- --------------- ---------------
50,400.00 42 61,131
================= =============== ===============
2. General.
--------
(a) This Amendment shall be governed in all respects by the laws of the
State of California.
(b) This Amendment may be executed in any number of counterparts, each of
which shall be deemed to be an original, and all of which together shall
constitute one and the same instrument. This Amendment may be delivered by
facsimile transmission of the relevant signature pages hereof.
(c) The Purchase Agreement, as amended by this Amendment, shall remain in
full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by as of the date first written above.
SALON MEDIA GROUP, INC.
By: /s/ Xxxxxxxxx Xxxxxxxxx
-----------------------
Xxxxxxxxx Xxxxxxxxx
President & Chief Executive Officer
[Counterpart Signature Page to Amendment No. 5 to Securities Purchase Agreement]
PURCHASER
By: /s/ Xxxx X. Xxxxxxx
-------------------
Xxxx X.Xxxxxxx
By: /s/ Xxxxx X. Xxxxxxx
--------------------
Xxxxx X. Xxxxxxx
Name: Xxxx X. Xxxxxxx & Xxxxx X. Xxxxxxx
Title:__________________________________
Address:________________________________
________________________________________
[Counterpart Signature Page to Amendment No. 5 to Securities Purchase Agreement]
PURCHASER
The Xxxxxxxxx 1980 Revocable Trust
By: /s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Name: Xxxxxxx X. Xxxxxxxxx
Title: Trustee
Address: 000 Xxxxxx Xx. Xxxxx 000
Xxx Xxxxxxxxx, XX 00000
-----------------------
[Counterpart Signature Page to Amendment No. 5 to Securities Purchase Agreement]
PURCHASER
HAMCO Capital Corporation
By: Xxxxxxx X. Xxxxxxxxx
--------------------
Name: Xxxxxxx X. Xxxxxxxxx
Title:
Address: 000 Xxxxxx Xx. Xxxxx 000
Xxx Xxxxxxxxx, XX 00000
-----------------------
[Counterpart Signature Page to Amendment No. 5 to Securities Purchase Agreement]
