FIRST AMENDMENT TO STRATEGIC ALLIANCE AGREEMENT
FIRST
AMENDMENT TO STRATEGIC ALLIANCE AGREEMENT
THIS
FIRST AMENDMENT TO STRATEGIC ALLIANCE AGREEMENT (this
“First
Amendment”)
is
made as of June 29, 2007, by and between GOFISH
TECHNOLOGIES, INC.,
a
California corporation (“GoFish”),
GOFISH
CORPORATION,
a
Nevada corporation of which GoFish is a wholly-owned subsidiary (the
“Company”)
and
KALEIDOSCOPE,
INC.,
a
Delaware corporation, acting through its wholly owned subsidiary, Kaleidoscope
Sports and Entertainment LLC (“KSE”).
WHEREAS,
GoFish,
the Company and KSE are parties to, and have agreed to amend, that certain
Strategic Alliance Agreement, dated as of January 1, 2007 (the “Strategic
Alliance Agreement”).
NOW,
THEREFORE,
in
consideration of the foregoing, the mutual covenants herein contained and
other
good and valuable consideration, the receipt and sufficient of which are
hereby
acknowledged, the parties agree as follows:
1. The
definition of “Base
Warrants”
in
Section 1.01 is hereby amended and restated in its entirety to read as
follows:
“Base
Warrants”
means
warrants to purchase up to Five Hundred Thousand (500,000) shares of Common
Stock pursuant to a written warrant agreement, in a form determined by
the
Company but including the following terms: (i) an exercise price of $3.00
per
share, (ii) vesting monthly in arrears commencing at the end of the seventh
month following the Effective Date (as to one third (1/3) of the underlying
number shares of Common Stock) and continuing at the end of each subsequent
month during the term hereof at a rate of one eighteenth (1/18) of the
number of
underlying shares of Common Stock and (iii) expiration automatically (1)
if this
Agreement is terminated prior to seven (7) months following the Effective
Date,
the date of termination of this Agreement, (2) if this Agreement is terminated
after this Agreement has been in effect for at least seven (7) months but
less
than eighteen (18) months, six (6) months following the date of termination
and
(3) if this Agreement is in effect for at least eighteen months, the fifth
anniversary of the Effective Date.”
2. Effect
on Strategic Alliance Agreement.
On and
after the date of this First Amendment each reference in the Strategic
Alliance
Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like
import referring to the Strategic Alliance Agreement shall mean and be
a
reference to the Strategic Alliance Agreement, as amended by this First
Amendment.
3. Governing
Law.
The
execution, interpretation and performance of this First Amendment shall
be
governed by the internal laws and judicial decisions of the State of New
York.
4. Counterparts.
This
Agreement may be executed in one or more counterparts, each of which shall
be
deemed an original, but all of which together shall constitute one and
the same
instrument.
5. Severability.
The
invalidity of any portion of this Agreement shall not invalidate any other
portion of this Agreement and, except for such invalid portion, this Agreement
shall remain in full force and effect.
IN
WITNESS WHEREOF,
the
parties hereto have executed this First Amendment as of the date first
above
written.
GOFISH TECHNOLOGIES, INC. | ||
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By: | /s/ Xxxxxxx Xxxxxx | |
Name: Xxxxxxx Xxxxxx |
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Title: President |
GOFISH CORPORATION | ||
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By: | /s/ Xxxxxxx Xxxxxx | |
Name: Xxxxxxx Xxxxxx |
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Title: President |
KALEIDOSCOPE, INC. | ||
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By: | /s/ Xxxxxxx X. Xxxxxx | |
Name: Xxxxxxx X. Xxxxxx |
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Title: President |