Exhibit 10.4

AMENDMENT NO.1 TO SECURITIES PURCHASE AGREEMENT
 
This Amendment No. 1 to Securities Purchase Agreement (this “Amendment”), dated
as of September 19, 2014, is entered into by and among Medbox, Inc., a Nevada
corporation (the “Company”), and the Purchasers named on the signature pages
hereto.
 
WITNESSETH:
 
WHEREAS, on July 21, 2014, the Company and the Purchasers entered into a
Securities Purchase Agreement (the “Securities Purchase Agreement”);
 
WHEREAS, the Company and the Purchasers desire to amend the Securities Purchase
Agreement as more particularly set forth below;
 
NOW, THEREFORE, in consideration of the covenants and mutual promises contained
herein and other good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged and intending to be legally bound
hereby, the parties agree as follows:
 
1.           Securities issuable pursuant to the securities purchase agreement
and Transaction Documents (as defined in such securities purchase agreement)
entered into by the Company on September 19, 2014, with YA Global Master SPV LTD
will be deemed an Exempt Issuance.
 
2.           Section 2.1 of the Securities Purchase Agreement shall be deleted
in its entirety and replaced by the following which shall be inserted in lieu
thereof:
 
The Purchasers will purchase an aggregate of up to $3,500,000 in Subscription
Amount corresponding to an aggregate of up to $3,500,000 in Principal Amount of
Debentures. The purchase will occur in five (5) tranches of (each a “Tranche,”
and collectively the “Tranches”), with the first Tranche of $1,000,000 being
closed on upon execution of this Agreement (the “First Closing”). The second
Tranche will be for $1,000,000 and will occur within two (2) days of the Filing
Date of the draft Registration Statement.  The third Tranche will be for
$500,000 and will occur within 5 Business Days of execution of Amendment No. 1
to this Agreement.  The fourth Tranche will be for $500,000 and will occur
within two (2) days of the SEC Effective Date. The fifth Tranche will be for
$500,000 and will occur within five Business Days of the SEC Effective Date. The
second, third, fourth and fifth Tranche will occur so long as the Company is not
in default of the Debentures. The obligations of the Purchasers under this
Section 2.1 will be joint and several and the allocation of the amounts
purchased by each Purchaser for each Tranche will be allocated among the
Purchasers in the Purchasers’ discretion. The parties acknowledge that the
closing of the first Tranche occurred on July 21, 2014 and the closing of the
second Tranche occurred on August 25, 2014.
 
3.           The Amortization Schedule for the Debentures is hereby amended as
follows. Amortization Payments will begin on the eleventh day of the fourth
month after the Original Issue Date and will continue on the eleventh day of
each of the following eight (8) successive months thereafter. On each such
Amortization Payment Date, the Company will redeem one-ninth (1/9) of the face
amount of the Debenture, except that, (1) the first and second Amortization
Payments of such Debentures will be for of one-sixth (1/6) of the face amount of
such Debentures, and (2) the eighth and ninth Amortization Payments of such
Debentures will be for one-eighteenth (1/18) of the face amount of the
Debentures. Please see exhibit A attached.
 
 
 

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4.           Except as modified herein, the terms of the Securities Purchase
Agreement shall remain in full force and effect.
 
5.           This Amendment may be executed in any number of counterparts, each
of which when so executed shall be deemed to be an original and shall be binding
upon all parties, their successors and assigns, and all of which taken together
shall constitute one and the same Amendment.  A signature delivered by facsimile
shall constitute an original.
 
[Signature Page Follows]
 
 
 
 
 
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[SIGNATURE PAGE TO AMENDMENT TO SECURITIES PURCHASE AGREEMENT]
 
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date set forth above.
 
MEDBOX, INC.
 
By: /s/ Guy Marsala
Name: Guy Marsala
Title: Chief Executive Officer

PURCHASERS:
 
REDWOOD MANAGEMENT LLC
 
By: /s/ John DeNobile
Name: John DeNobile
Title: Manager
 
REDWOOD FUND II LLC
 
By: /s/ John DeNobile
Name: John DeNobile
Title: Manager
 
REDWOOD FUND III LTD.
 
By: /s/ John DeNobile
Name: John DeNobile
Title: Manager

 
 
 
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Exhibit A
 
Amortization Schedule
 
Transaction
 
Amount
 
Timing
Funding:
  $ 950,000  
July 21, 2014
           
Amortization Payments
 
Cash 30% Premium
 
Common Stock
First Payment (11/11/14)
 
$216,666.65 (plus interest)
 
$166,666.66(plus interest)
Second Payment (12/11/14)
 
$216,666.65 (plus interest)
 
$166,666.66 (plus interest)
Third Payment (1/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11(plus interest)
Fourth payment (2/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Fifth Payment (3/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Sixth Payment (4/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Seventh Payment (5/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Eighth Payment (6/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Ninth Payment (7/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)

 
4

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Transaction
 
Amount
 
Timing
Funding:
  $ 950,000  
August 25, 2014
           
Amortization Payments
 
Cash 30% Premium
 
Common Stock
First Payment (12/11/14)
 
$216,666.65 (plus interest)
 
$166,666.66(plus interest)
Second Payment (1/11/15)
 
$216,666.65 (plus interest)
 
$166,666.66 (plus interest)
Third Payment (2/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11(plus interest)
Fourth payment (3/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Fifth Payment (4/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Sixth Payment (5/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Seventh Payment (6/11/15)
 
$144,444.44 (plus interest)
 
$111,111.11 (plus interest)
Eighth Payment (7/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Ninth Payment (8/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)

 

 
 
5

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Transaction
 
Amount
 
Timing
Funding:
  $ 475,000  
Within 5 Business Days of Execution of Amendment No. 1
           
Amortization Payments
 
Cash 30% Premium
 
Common Stock
First Payment (1/11/15)
 
$108,333.32 (plus interest)
 
$83,333.33 (plus interest)
Second Payment (2/11/15)
 
$108,333.32 (plus interest)
 
$83,333.33 (plus interest)
Third Payment (3/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Fourth payment (4/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Fifth Payment (5/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Sixth Payment (6/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Seventh Payment (7/11/15)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Eighth Payment (8/11/15)
 
$36,111.01 (plus interest)
 
$27,777.77 (plus interest)
Ninth Payment (9/11/15)
 
$36,111.01 (plus interest)
 
$27,777.77 (plus interest)

 
 

 
 
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Transaction
 
Amount
 
Closing
Funding:
  $ 475,000  
Within 2 Days of the SEC Effective Date
           
Amortization Payments
 
Cash 30% Premium
 
Common Stock
First Payment (11th day of Month 4 from closing)
 
$108,333.32 (plus interest)
 
$83,333.33 (plus interest)
Second Payment (11th day of Month 5 from closing)
 
$108,333.32 (plus interest)
 
$83,333.33 (plus interest)
Third Payment (11th day of Month 6 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Fourth payment (11th day of Month 7 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Fifth Payment (11th day of Month 8 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Sixth Payment (11th day of Month 9 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Seventh Payment (11th day of Month 10 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Eighth Payment (11th day of Month 11 from closing)
 
$36,111.01 (plus interest)
 
$27,777.77 (plus interest)
Ninth Payment (11th day of Month 12 from closing)
 
$36,111.01 (plus interest)
 
$27,777.77 (plus interest)

 
 

 
 
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Transaction
 
Amount
 
Closing
Funding:
  $ 475,000  
Within 5 Business days of the SEC Effective Date
           
Amortization Payments
 
Cash 30% Premium
 
Common Stock
First Payment (11th day of Month 4 from closing)
 
$108,333.32 (plus interest)
 
$83,333.33 (plus interest)
Second Payment (11th day of Month 5 from closing)
 
$108,333.32 (plus interest)
 
$83,333.33 (plus interest)
Third Payment (11th day of Month 6 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Fourth payment (11th day of Month 7 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Fifth Payment (11th day of Month 8 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Sixth Payment (11th day of Month 9 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Seventh Payment (11th day of Month 10 from closing)
 
$72,222.22 (plus interest)
 
$55,555.55 (plus interest)
Eighth Payment (11th day of Month 11 from closing)
 
$36,111.01 (plus interest)
 
$27,777.77 (plus interest)
Ninth Payment (11th day of Month 12 from closing)
 
$36,111.01 (plus interest)
 
$27,777.77 (plus interest)

 
 
 
 
 
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