COMMON STOCK REPURCHASE AGREEMENT
EXHIBIT 10.15
COMMON STOCK REPURCHASE AGREEMENT
This common stock repurchase agreement (the “Agreement”) in entered into as of August 12, 2013 by and between Bright Mountain Holdings, Inc., a Florida corporation (the “Company”), and First Market, LLC (the “Stockholder”).
RECITALS
WHEREAS, the Stockholder is the holder of 50,000 (pre-split) shares of the Company’s common stock (the “Common Stock”), which the Stockholder acquired from the Company pursuant to a Consulting Agreement entered into on March 1, 2013, representing 90,000 post-split shares of the Common Stock.
WHEREAS, the Stockholder desires to sell, and the Company desires to repurchase, 50,000 (pre-split) shares of Common Stock (the “Shares”) represented by certificate numbers 51, representing 90,000 post-split Shares.
NOW, THEREFORE, in consideration of the promises, covenants and agreements herein contained, the parties agree as follows:
AGREEMENT
The Company hereby agrees to repurchase from Stockholder, the Stockholder hereby agrees to sell, assign and transfer to the Company, all of the Stockholder’s rights, title and interest in and to the Shares for an aggregate repurchase price of $1.00 (the “Repurchase Amount”).
Upon execution of this Agreement, and in consideration of payment of $1.00 hereby acknowledged and received by the Stockholder, the Shares shall cease to be outstanding for any and all purposes, and the Stockholder shall no longer have any rights as a holder of the Shares.
This agreement shall be governed by and construed in accordance with the laws of the State of Florida.
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.
Each party hereto agrees to execute any additional documents and to take any further action as may be needed in order to implement the transaction contemplated in this Agreement.
IN WITNESS WHEREOF, each of the parties has executed this Stock Repurchase Agreement as of the day and year first above writes.
| COMPANY: | |
|
|
|
| Bright Mountain Holdings, Inc. | |
|
|
|
| By: | /s/ W. Xxx Xxxxxx |
| Name: | W. Xxx Xxxxxx |
| Title: | Chief Executive Officer |
|
|
|
|
|
|
| STOCKHOLDER: | |
|
|
|
| First Market, LLC | |
|
|
|
| By: | /s/ Xxxxxxxxxxx Xxxxxxxx |
| Name: | Xxxxxxxxxxx Xxxxxxxx |
| Title: | Managing Member |