Lilis Energy, Inc.
Exhibit 10.7
0000 Xxxxx Xxxxxx, Xxxxx 000
Xxxxxx, XX 00000
April 29, 2014
X.X. Xxxxxxx & Company, LLC
1999 Avenue of the Stars, Xxxxx 0000
Xxx Xxxxxxx, XX 00000
Attention: Xxxxx Xxxxxxx and Xxxxx Xxxx
Re: Transaction Fee Agreement, dated March 28, 2014 (the “Agreement”)
Dear Sir or Madam:
As discussed, this letter, when executed in the space indicated below, shall constitute our amendment to the above-referenced Transaction Fee Agreement between Lilis Energy, Inc. and X.X. Xxxxxxx & Company, LLC.
In consideration of our mutual efforts to pursue the transactions contemplated by the Transaction Fee Agreement, we hereby agree that Section 1 of the letter shall be amended and restated in its entirety as follows:
1. The Company agrees to compensate the Broker as follows: (i) eight percent (8%) of the gross proceeds of the offering, payable at the Closing (as defined in the Purchase Agreement), (ii) one percent (1%) of the gross proceeds received by the Company at Closing, payable at Closing, for a non-accountable expense allowance, and (iii) shall reimburse the agent for its legal fees and expenses equal to $25,000.
The remaining terms and conditions of the Agreement shall continue in full force and effect.
If the foregoing meets your agreement, please execute a copy of this letter agreement in the space indicated below and return one original to the undersigned.
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By:
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/s/ A. Xxxxxxx Xxxxxxx
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Name:
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A. Xxxxxxx Xxxxxxx
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Title:
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Chief Financial Officer
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Agreed and Accepted:
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X.X. Xxxxxxx & Company, LLC
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By:
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/s/ G. Xxxxx Xxxxxxx
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Name:
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G. Xxxxx Xxxxxxx
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Title:
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Chairman & CEO
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