Exhibit 10.1

 

SFX ENTERTAINMENT, INC.

430 Park Avenue

New York, New York 10022

 

April 2, 2014

 

React Presents, Inc.

Clubtix, Inc.

Jeffery Callahan

Lucas King

400 North May Street, Suite 202

Chicago, Illinois 60642

 

Gentlemen:

 

Re:                             Amendment to Asset and Membership Interest
Contribution Agreement regarding Letter of Credit

 

Reference is made to that certain Asset and Membership Interest Contribution
Agreement dated as of February 18, 2014 as amended as of March 14, 2014 (the
“Contribution Agreement”), by and among SFX Entertainment, Inc., a Delaware
corporation (“Parent”), SFX- React Operating LLC, a Delaware limited liability
company wholly owned by Parent (“Acquiror”, and together with Parent, the
“Acquiring Parties”), React Presents, Inc., an Illinois corporation (“React”),
Clubtix, Inc., an Illinois corporation (“Clubtix”, and together with React, the
“Transferors”), LUCAS KING, an individual resident of Illinois and a stockholder
of React and Clubtix (“King”), and JEFFERY CALLAHAN, an individual resident of
Indiana and a stockholder of React and Clubtix (“Callahan”, and together with
King the “Stockholders”).  All capitalized terms not otherwise defined herein
shall have the meanings given to such terms in the Contribution Agreement.

 

In consideration of the mutual covenants and agreements herein contained and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties agree as follows:

 

1.                                      Amendment to Contribution Agreement
Regarding Letter of Credit. Section 5.16 of the Contribution Agreement is hereby
deleted; it being understood and agreed by the parties that the Letter of Credit
shall not be required and that all references in the Contribution Agreement to
the Letter of Credit, including the posting and delivery thereof at Closing,
shall be deleted or disregarded as appropriate to effectuate the purpose and
intent of this paragraph.

 

2.                                      Full Force and Effect.  Except as set
forth above, the Contribution Agreement remains in full force and effect.

 

3.                                      Miscellaneous.  This letter agreement is
subject to all of the terms, conditions and limitations set forth in Article 11
of the Contribution Agreement, which sections are hereby incorporated into this
letter agreement, mutatis mutandis, as if they were set forth in their entirety
herein.

 

[Signature Page Follows]

 

1

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IN WITNESS WHEREOF, the Parties hereto caused this Agreement to be duly executed
by their respective authorized officers as of the date first written above.

 

 

 

SFX ENTERTAINMENT, INC.

 

a Delaware corporation

 

 

 

 

 

By:

/s/ Sheldon Finkel

 

Name:

Sheldon Finkel

 

Title:

Vice Chairman

 

 

 

 

 

SFX-REACT OPERATING LLC

 

a Delaware limited liability company

 

 

 

 

 

By:

/s/ Sheldon Finkel

 

Name:

Sheldon Finkel

 

Title:

Vice President

 

[Signatures continue on following page.]

 

[Signature Page to SFX-React Letter Agreement re Letter of Credit]

 

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REACT PRESENTS, INC.

 

an Illinois corporation

 

 

 

 

 

By:

/s/ Lucas King

 

Name:

Lucas King

 

Title:

Authorized Signatory

 

 

 

 

 

CLUBTIX INC.

 

an Illinois corporation

 

 

 

 

 

By:

/s/ Lucas King

 

Name:

Lucas King

 

Title:

Authorized Signatory

 

 

[Signatures continue on following page.]

 

[Signature Page to SFX-React Letter Agreement re Letter of Credit]

 

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LUCAS KING

 

an individual resident of Illinois

 

 

 

 

 

/s/ Lucas King

 

 

 

 

 

JEFFERY CALLAHAN

 

an individual resident of Indiana

 

 

 

 

 

/s/ Jeffery Callahan

 

[Signature Page to SFX-React Letter Agreement re Letter of Credit]

 

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