EXHIBIT 10.14

CONSENT AGREEMENT

 

THIS CONSENT AGREEMENT (this “Agreement”) is entered into on August 19, 2016
(the “Execution Date”) by and between RLJ Entertainment, Inc., a Nevada
corporation (the “Company”) and the persons named on the signature page to this
Agreement (the “Holders”). The Holders and the Company may be referred to herein
as the “Parties”.

 

RECITALS

 

 

A.

The Company and the Holders entered into a securities purchase agreement dated
as of May 14, 2015 (the “SPA”)

 

B.

The Holders are the record owner of shares of Series B-1 preferred stock in
Company (the “Preferred Stock”) as set forth in the Company records;

 

C.

The Holders are also the record owners of a warrant (the “Warrant”) granting
each Holder rights to purchase Company common stock (the “Common Stock”);

 

D.

The Company has requested that the Holders (i) consent to certain amendments to
the SPA; (ii) agree to exchange its Preferred Stock for amended preferred stock;
and (iii) agree to exchange its Warrant for an amended warrant.  

AGREEMENT

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Parties hereby agree as follows:

 

1. Amendment to SPA. The Holders hereby consent to the amendment of the SPA as
set forth in the amendment to securities purchase agreement attached hereto as
Exhibit A (the “SPA Amendment”).

 

2.Exchange of Preferred Stock. The Holders hereby agree to exchange their
Preferred Stock for the same number of shares of new preferred stock containing
the amended terms set forth in the amended certificate of designation attached
hereto as Exhibit B (the “Amended Preferred Certificate”).

 

3.Exchange of Warrant. The Holders hereby agree to exchange their Warrants for
new warrants to purchase the same number of shares as their Warrants (as
adjusted for the reverse split effected on June 24, 2016) and containing the
amended terms set forth in the form of warrant attached hereto as Exhibit C
(“New Warrant”).  In order to facilitate such exchange, the Holders herewith
delivers their Warrants to the Company to be held in trust pending the closing
pursuant to the Investment Agreement (the “Closing”), and upon the Closing, the
Company shall cancel the Warrants and execute and deliver such New Warrants to
the Holders. If the Closing does not occur on or before December 31, 2016,
Company promptly thereafter shall return the Warrants to the Holders.  

 

4.Conditions.  The Parties specify the following conditions to the effectiveness
of the SPA Amendment, the exchange of the Preferred Stock for the new preferred
stock and the exchange of the Warrants for the New Warrants.  

 

(a)Execution and Delivery of this Agreement. The Company and holders of a
majority of the Preferred Stock shall have executed and delivered a consent
agreement substantially the same as this Agreement.

 

 

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(b)Execution and Filing of Amended Preferred Certificate. The Company shall have
executed and filed with the Nevada Secretary of State the Amended Preferred
Certificate.  

 

(c)Closing.  The closing pursuant to this consent shall be held no later than
December 31, 2016.

 

5.Miscellaneous.

 

(a)Counterparts. This Agreement may be executed in counterparts by the Parties
hereto on the same or separate counterparts, and each such counterpart, when
executed and delivered, shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same Agreement. Receipt
by telecopy, facsimile or email transmission of any executed signature page to
this Agreement shall constitute effective delivery of such signature page.

(b)Severability. The illegality or unenforceability of any provision of this
Agreement or any instrument or agreement required hereunder shall not in any way
affect or impair the legality or enforceability of the remaining provisions of
this Agreement or any instrument or agreement required hereunder.

(c)Governing Law. The validity of this Agreement, the construction,
interpretation, and enforcement hereof, the rights of the parties hereto with
respect to all matters arising hereunder or related hereto, and any claims,
controversies or disputes arising hereunder or related hereto shall be
determined under, governed by, construed and enforced in accordance with the
laws of the State of New York.

 

*Signatures on Next Page*

 

 

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IN WITNESS WHEREOF, the Parties have executed this Consent Agreement as of the
Execution Date set forth above.

 

COMPANY

RLJ ENTERTAINMENT, INC.,

By:/s/ MIGUEL PENELLA
Name: Miguel Penella
Title: Chief Executive Officer

HOLDER

JOHN AVAGLIANO

/s/ JOHN AVAGLIANO

John Avagliano

RAYMOND GAGNON

/s/ RAYMOND GAGNON

Raymond Gagnon

THEODORE S. GREEN

/s/ THEODORE S. GREEN

Theodore S. Green

TAYLOR RETTIG

/s/ TAYLOR RETTIG

Taylor Rettig

PRODUCERS SALES ORGANIZATION

 

By: /s/ JOHN HYDE
Name: John Hyde
Title: Secretary

 

 

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EXHIBIT A

SPA Amendment

 

 

 

 

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EXHIBIT B

Amended Preferred Certificate

 

 

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EXHIBIT C

New Warrant