AMENDMENT AGREEMENTAmendment Agreement • November 10th, 2008 • Drinks Americas Holdings, LTD • Beverages
This Amendment Agreement (the “Agreement”), dated as of October 27, 2008, is by and among Drinks Americas Holdings, Ltd., a Delaware corporation (the “Company”) and the investors signatory hereto (each, a “Purchaser” and collectively, the “Purchasers”).
Re: Warrant Re-pricingWarrant Re-Pricing Agreement • November 10th, 2008 • Drinks Americas Holdings, LTD • Beverages
Drinks Americas Holdings, Ltd (the "Company") has issued to you ("Warrant Holder") warrants to purchase shares of the Company's common stock (the Warrants"). The Company hereby agrees that for a period commencing on the date of this letter and ending on November 3, 2008(the "Deadline"), the exercise price under the Warrant Agreement shall be lowered to a price equal to $0.20. As partial consideration for the Warrant Re-pricing, during the period from the Deadline until February 28, 2009, in the event that the Company’s stock trades for $1.50 or higher (subject to adjustments for forward and reverse stock splits, recapitalizations, stock dividends, and the like after the date hereof) for ten (10) consecutive trading days then the exercise price reverts to the original exercise price under the Warrants ($.__ per share of common stock) and the Warrant Holder shall pay the Company the difference ($.__ per share). This warrant re-pricing offer is being made to the Warrant Holder.
