AMENDMENT TO
AMENDMENT TO
This amendment to the Stock Purchase Agreement, dated August 7, 2014and amended May 23, 2014 (“Amendment”) is made as of the 7th day of August, 2014, by and between mCig, Inc., a Nevada Corporation (“Purchaser”) and Xxxxxxx X. Xxxxx and Xxxxxxxxx X. Xxxxxxx (“XXXXX”), Xxxx X. Xxxxxxx and Xxxx X. Xxxxxxx (“XXXXXXX” and collectively with XXXXX and Purchaser, the “Parties”).
WHEREAS, the Parties entered into that certain Stock Purchase Agreement, dated August 7, 2014 and amended May 23, 2014 (“Agreement”);
WHEREAS, the Parties have determined to amend one provision of the Agreement
NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions hereinafter set forth, the parties hereto hereby agree as follows:
1. Paragraph 1.1(d) shall be modified solely to read: Legacy Management and Control. Each of XXXXX and XXXXXXX shall execute appropriate agreements of up to ten (10) years to permit of XXXXX and XXXXXXX to permit them to continue to assist in making all day to day business decisions as employees or consultants to Vapolution, Inc., a California corporation and report to the Board of Directors. XXXXX and XXXXXXX agree that they will resign all positions held on the Board of Director and simultaneously appoint the designee of mCig to the Board of Directors. In the event the obligations pursuant to paragraph 1.1(e) are triggered, mCig shall cause its designee to resign in favor or the designee of XXXXX and XXXXXXX.
2. Miscellaneous. All capitalized terms used herein and not otherwise defined shall have the meanings assigned in the Agreement as amended. Except as modified herein, all covenants, terms and conditions of the Agreement shall remain in full force and effect, which covenants, terms and conditions the parties hereby ratify and affirm. This Amendment may be executed in several counterparts, each one of which shall constitute an original and all collectively shall constitute but one instrument.
SIGNATURES ON FOLLOWING PAGE
1 | Page
Amendment to
Stock Purchase Agreement, dated January 23, 2014 and amended May 23, 2014
by and between
mCig
and Xxxxxxx X. Xxxxx and Xxxxxxxxx X. Xxxxxxx, Xxxx X. Xxxxxxx and Xxxx X. Xxxxxxx
IN WITNESS WHEREOF, the parties have executed this AMENDMENT as of the Effective Date.
Dated: AUGUST 7, 2014
/s/ Xxxxxxx X. Xxxxx
____________________________
Xxxxxxx X. Xxxxx, Seller
Dated: AUGUST 7, 2014
/s/ Xxxxxxxxx X. Xxxxxxx
____________________________
Xxxxxxxxx X. Xxxxxxx, Seller
Dated: AUGUST 7, 2014
/s/ Xxxx X. Xxxxxxx
____________________________
Xxxx X. Xxxxxxx, Seller
Dated: AUGUST 7, 2014
/s/ Xxxx X. Xxxxxxxx
____________________________
Xxxx X. Xxxxxxxx, Seller
Dated: JANUARY 22, 2014
/s/ Xxxx Xxxxxxxxx
_____________________________
Xxxx Xxxxxxxxx, Purchaser
2 | Page
Amendment to
Stock Purchase Agreement, dated January 23, 2014 and amended May 23, 2014
by and between
mCig
and Xxxxxxx X. Xxxxx and Xxxxxxxxx X. Xxxxxxx, Xxxx X. Xxxxxxx and Xxxx X. Xxxxxxx
