May 16, 2008
Exhibit
10.6
May 16,
2008
In
reference to the Agreement of May 12, 2008 between Vibe Records, Inc., a
Delaware Corporation (Vibe), Benacquista Galleries, Inc., a Nevada corporation
(Benacquista), Xxxxx Xxxxx, an Individual and Xxxxxxx Xxxxxx, an individual, I,
Xxxxx Xxxxx hereby grant a one-time-only extension under the Agreement under the
following terms:
I must
receive an additional payment of $25,000 no later than 5:00 PM on Monday, May
16, 2008. This payment is non-refundable and governed by the same terms of the
Agreement. The remaining balance of $425,000 must be paid by May 26, 2008 by
5:00 PM. Failure to make any payment exactly as noted in this section results in
immediate cancellation of the Option in the Agreement and retention of any
non-refundable deposits as liquidated damages by Mr. Price.
In
addition, Mr. Price and Benacquista also agreed that Vibe Records would receive
an additional $50,000 worth of Benacquista common shares in the event that the
balance of the purchase price is paid by May 26, 2008. These shares are in lieu
of the shares Vibe Records would have received under the May 12, 2008, letter
agreement.
All other
terms of the Agreement shall apply.
/s/ Xxxxx
Xxxxx
Xxxxx
Xxxxx, an Individual
/s/ Xxxxx Price_________________________________ __
Benacquista
Galleries, Inc.
Xxxxx
Xxxxx, CEO
/s/ Xxxxxxx X.
Olphie_______________________________
Xxxxxxx
X. Xxxxxx, an Individual
/s/ Xxxxxxx X.
Olphie_______________________________
Vibe
Records, Inc.
Xxxxxxx
X. Xxxxxx
