CONVERSION AGREEMENT
Exhibit
10.14
This
Conversion Agreement
(the “Agreement”), dated as
of January 16, 2009, is made and entered into by and between Mega Media Group,
Inc. (the “Company”), and Boyard
Management and Xxxxx Xxxxxxxx (the “collectively referred to as Lender”).
RECITALS
WHEREAS, the Lender made a $
89,011.82 loan of office lease (the “Loan”) to the
Company; and
WHEREAS, the Lender has agreed
to convert the Loan into shares of the Company’s common stock, par value $0.001
per share (the “Common
Stock”) on the terms and subject to the conditions set forth
herein.
NOW, THEREFORE, intending to
be legally bound, the parties hereby agree as follows:
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1.
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Conversion. The Lender
shall convert the Loan into shares of the Company's Common Stock, at the
rate of $0.01 per share (the “Conversion”)
for a total of 8,911,000 shares. The Conversion shall be
considered payment in full by the Company of all of the lease payments due
up to the Lender through January 31, 2009 by Mega Media Group, Inc, and
Echo Broadcasting Group, Inc.
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2.
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Binding Effect. This
instrument is being executed by the Lender and shall be binding upon its
successors and assigns for the uses and purposes above set forth and
referred to, and shall be effective as of the date
hereof.
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3.
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Governing Law. This
instrument shall be governed by and enforced in accordance with the laws
of the State of New York without any application of the principles of
conflicts of laws.
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IN WITNESS WHEREOF, this
Agreement has been duly executed by the Company and Lender as of the date first
above written.
MEGA
MEDIA GROUP, INC.
/s/
Xxxx
Xxxxxxx
Xxxx
Xxxxxxx, CEO
THE
LENDER
/s/
Xxxxx
Xxxxxxxx
Xxxxx
Xxxxxxxx,
Boyard
Management
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