Document:

Unassociated Document

     

    
      Exhibit
10.1

    

     

    As of
September 30, 2009

    

    Teton
Energy Corporation

    600
17th
Street, Suite 1600 North

    Denver,
Colorado 80202

    
      Attention:
Jonathan Bloomfield

    

    

      
        	
                Re:

              	
                Third
      Amendment to Second Amended and Restated Credit Agreement and Forbearance
      Agreement (as amended, the “Third
      Amendment”) dated effective as of August 26, 2009, among Teton
      Energy Corporation, a Delaware corporation (“Borrower”),
      the financial institutions party thereto as lenders (“Lenders”),
      and JPMorgan Chase Bank, N.A., as Administrative Agent (“Administrative
      Agent”).  Unless otherwise defined herein, all terms used
      herein which are defined in the Third Agreement shall have the meaning
      assigned to such terms in the Third
Amendment.

              

      

       

      
        	
                 
      

              	
                Ladies
      and Gentlemen:

              

      

       

      Borrower
has advised Administrative Agent and Lenders that it desires to amend certain
terms of the Third Amendment.  In consideration of the mutual
covenants and agreements contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged and
confessed, the parties hereto hereby agree as follows:

       

      
        	
                1.

              	
                Amendments.  In
      reliance on the representations, warranties, covenants and agreements
      contained in this letter agreement, and subject to the satisfaction of the
      conditions precedent set forth in Section 3
      hereof, the Third Amendment is hereby amended effective as of the date
      hereof as follows:

              

      

       

      (a)           Section 2.1 of the Third
Amendment.  Section 2.1 of the Third Amendment is hereby
amended by replacing each reference to “September 30, 2009” with “October 16,
2009”.

       

      
        	
                2.

              	
                Representations and
      Warranties.  To induce Lenders and Administrative Agent
      to enter into this letter agreement, Borrower hereby represents and
      warrants to Lenders and Administrative Agent as
  follows:

              

      

       

      (a)           Reaffirm Existing
Representations and Warranties.  Except for the representation
and warranties made in Sections 7.04(b) and 7.22, each representation and
warranty of Borrower and its Subsidiaries contained in the Credit Agreement is
true and correct on the date hereof  and will be true and correct
after giving effect to this letter agreement (other than breaches which result
from the Specified Defaults).

       

      (b)           Due Authorization; No
Conflict.  The execution, delivery and performance by Borrower
of this letter agreement are within Borrower’s corporate powers, have been duly
authorized by all necessary action, require no action by or in respect of, or
filing with, any governmental body, agency or official and do not violate or
constitute a default under any provision of applicable law or any material
agreement binding upon Borrower or any of its Subsidiaries or result in the
creation or imposition of any Lien upon any of the assets of Borrower or any of
its Subsidiaries.

       

      (c)           Validity and
Enforceability.  This letter agreement constitutes the valid
and binding obligation of Borrower enforceable in accordance with its terms,
except as (a) the enforceability thereof may be limited by bankruptcy,
insolvency or similar laws affecting creditor’s rights generally, and (b) the
availability of equitable remedies may be limited by equitable principles of
general application.

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Teton
Energy Corporation

      As of
September 30, 2009

      Page 2

    

    

      (d)           No Default or Event of
Default.  No Default or Event of Default has occurred which is
continuing, other than the Specified Defaults.

       

      (e)           No
Defense.  Borrower acknowledges that Borrower has no defense to
(i) Borrower’s obligation to pay any amount payable under any Loan Document when
due, or (ii) the validity, enforceability or binding effect against Borrower of
the Credit Agreement or any of the other Loan Documents or any Liens intended to
be created thereby.

       

      
        	
                3.

              	
                Conditions
      Precedent.  The amendments contained in Section 1
      hereof shall be effective as of the date when the following conditions
      precedent have been satisfied:

              

      

       

      (a)           No
Default.  No Default or Event of Default shall have occurred
which is continuing, other than the Specified Defaults.

       

      (b)           Documents.  Administrative
Agent shall have been provided with executed counterparts of this letter
agreement and such other documents, instruments and agreements, and Borrower and
each of its Subsidiaries shall have taken such actions, as the Administrative
Agent may reasonably require in connection with this letter agreement and the
transactions contemplated hereby.

       

      
        	
                4.

              	
                Miscellaneous.  (a)
      Borrower hereby agrees to pay on demand all reasonable fees and expenses
      incurred by the Administrative Agent (including, without limitation,
      reasonable fees and expenses of counsel to the Administrative Agent) in
      connection with the preparation, negotiation and execution of this letter
      agreement and all related documents, (b) this letter agreement may be
      executed in counterparts, and all parties need not execute the same
      counterpart; however, no party shall be bound by this letter agreement
      until a counterpart hereof has been executed by Borrower and Lenders;
      facsimiles or other electronic transmission (e.g., pdf) shall be
      effective as originals, (c) THIS LETTER AGREEMENT REPRESENTS THE FINAL
      AGREEMENT AMONG THE PARTIES REGARDING THE MATTERS SET FORTH HEREIN AND MAY
      NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL
      AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL
      AGREEMENTS AMONG THE PARTIES, (d) this letter agreement constitutes a
      “Loan Document” under and as defined in Section 1.02 of the Credit
      Agreement, and (e) this letter agreement shall be governed by, and
      construed in accordance with, the laws of the State of
    Texas.

              

      

       

      Please
evidence your agreement to each of the provisions of this letter agreement by
executing a counterpart hereof where indicated and returning an executed
counterpart to Catherine S. Callahan, counsel for Administrative Agent, via
facsimile number (214) 999-7958 or via e-mail to
ccallahan@velaw.com.

       

    

    [Signature
Pages Follow]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

    
      	 
      	
              TETON ENERGY
      CORPORATION, as Borrower

               

               

            
	 
      	
              By:

            	    
      
	 
      	 
      	
              Dominic
      J. Bazile II,

            
	 
      	 
      	
              President
      and Chief Operating Officer

            

    

    

    Each of
the undersigned (i) consent and agree to this letter agreement and each of the
terms and provisions contained herein, and (ii) agree that the Loan Documents to
which it is a party shall remain in full force and effect and shall continue to
be the legal, valid and binding obligation of such Person, enforceable against
it in accordance with its terms.

     

    
      	 
      	
              ACKNOWLEDGED
      AND AGREED TO BY:

               

            
	 
      	
              TETON NORTH AMERICA LLC,
      as Guarantor

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	    
      
	 
      	 
      	
              Dominic
      J. Bazile II,

            
	 
      	 
      	
              President
      and Chief Operating Officer

            

    

     

     

     

    
      	 
      	
              TETON PICEANCE LLC, as
      Guarantor

            
	 
      	 
      	 
      
	 
      	 
      	
               
      

               

            
	 
      	
              By:

            	    
      
	 
      	 
      	
              Dominic
      J. Bazile II,

            
	 
      	 
      	
              President
      and Chief Operating Officer

            
	 
      	 
      	
               

               

               

            
	 
      	
              TETON DJ LLC, as
      Guarantor

            
	 
      	 
      	 
      
	 
      	 
      	
               
      

               

            
	 
      	
              By:

            	    
      
	 
      	 
      	
              Dominic
      J. Bazile II,

            
	 
      	 
      	
              President
      and Chief Operating Officer

            
	 
      	 
      	 
      

    

     

     

    
      
        
        

      

      
        
        

        
          

          [Signature
Page to Letter Agreement – Teton Energy Corporation]

        

      

      
        
        

      

    

     

     

    
      	 
      	
              TETON WILLISTON LLC, as
      Guarantor

            
	 
      	 
      	 
      
	 
      	 
      	
               
      

               

            
	 
      	
              By:

            	    
      
	 
      	 
      	
              Dominic
      J. Bazile II,

            
	 
      	 
      	
              President
      and Chief Operating Officer

            
	 
      	 
      	
               
      

               

               

               

            
	 
      	
              TETON BIG HORN LLC, as
      Guarantor

            
	 
      	 
      	
               
      

               

               

            
	 
      	 
      	 
      
	 
      	
              By:

            	    
      
	 
      	 
      	
              Dominic
      J. Bazile II,

            
	 
      	 
      	
              President
      and Chief Operating Officer

            
	 
      	 
      	
               
      

               

               

               

            
	 
      	
              TETON DJCO LLC, as
      Guarantor

            
	 
      	 
      	 
      
	 
      	 
      	
               
      

               

            
	 
      	
              By:

            	    
      
	 
      	 
      	
              Dominic
      J. Bazile II,

            
	 
      	 
      	
              President
      and Chief Operating Officer

            
	 
      	 
      	 
      

    

     

    
      
        
          
          

        

        
          
          

          
            

            [Signature
Page to Letter Agreement – Teton Energy Corporation]

          

        

        
          
          

        

      

       

    

     

    
      	 
      	 
      	 
      
	 
      	
              JPMORGAN CHASE BANK,
      N.A., as Administrative Agent and a Lender

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	    
      
	 
      	 
      	
              John
      Runger,

            
	 
      	 
      	
              Managing
      Director

            

    

     

    
      
        
          
          

        

        
          
          

          
            

            [Signature
Page to Letter Agreement – Teton Energy Corporation]

          

        

        
          
          

        

      

       

    

    

    
      	 
      	
              ROYAL BANK OF CANADA, as
      Syndication Agent and a Lender

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
	 
      	
              Name:

            	 
	 
      	
              Title:

            	 

    

     

    
      
        
        

      

      
        
        

        
          

          [Signature
Page to Letter Agreement – Teton Energy Corporation]

        

      

      
        
        

      

    

     

     

    
      	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              GUARANTY BANK AND TRUST
      COMPANY, as a Lender

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      
	 
      	
              Name:

            	 
      
	 
      	
              Title:

            	 
      

    

     

    
      
        
        

      

      
        
        

        
          [Signature
Page to Letter Agreement – Teton Energy Corporation]

          

        

      

      
        
        

      

    

     

     

     

     

     

     

     

    
      	 
      	
              U.S. BANK NATIONAL
      ASSOCIATION, as a Lender

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
	 
      	
              Name:

            	 
	 
      	
              Title:

            	 

    

    

    
      
        
        

      

      
        
        

        
          

          [Signature
Page to Letter Agreement – Teton Energy Corporation]Unassociated Document

     

    EXHIBIT
10.1

    AMENDMENT
TO PURCHASE AGREEMENT

    

    This
AMENDMENT TO PURCHASE AGREEMENT (this “Amendment”) is made
and entered into as of September 30, 2009, by and between HOLLYWOOD MEDIA CORP.,
a Florida corporation (the “Company”), and
R&S INVESTMENTS, LLC, a Delaware limited liability company (“Purchaser”).  The
Company and Purchaser are sometimes referred to in this Amendment individually
as a “Party”
and collectively as the “Parties.” Unless
otherwise expressly defined herein, all capitalized terms used herein shall have
the meanings set forth in the Purchase Agreement.

    

    A.           The
Parties executed a Purchase Agreement dated as of August 21, 2008 (the “Purchase Agreement”),
pursuant to which the Purchaser purchased from the Company the Company’s
subsidiaries Hollywood.com, LLC, a Delaware limited liability company (“Hollywood.com”) and
Totally Hollywood TV, LLC, a Delaware limited liability company (Hollywood.com,
LLC and Totally Hollywood TV, LLC are collectively referred to as the “Companies”).

    

    B.           The
Parties desire to amend the Purchase Agreement as set forth in this Amendment
to, among other things, clarify the intention of the Parties that the gross
revenue of the Companies that is used to calculate the Earnout Payment for each
Measurement Period under the Purchase Agreement means the aggregate revenue of
the Companies for each Measurement Period as adjusted by increases or decreases,
as the case may be, in gross accounts receivable of the Companies during the
relevant Measurement Period, so that billed but uncollected amounts are not
included in the calculation of gross revenue until such amounts are
collected.

    

    NOW,
THEREFORE, in consideration of the premises and mutual covenants set forth
herein, the Parties hereby agree as follows:

    

    1.           Amendment of Purchase
Agreement. (a) All references in the Purchase Agreement to the term
“Gross Revenue” is hereby replaced with the term “Adjusted Gross
Revenue.”  The definition of the term “Gross Revenue” in Section
1.1(a) of the Purchase Agreement is hereby deleted in its entirety and replaced
with the following:

    

    “Adjusted
Gross Revenue” shall mean the aggregate revenue of the Companies for the
relevant Measurement Period calculated in accordance with GAAP, adjusted as
follows:  (i) with respect to the initial Measurement Period,
“Adjusted Gross Revenue” shall be decreased by the gross accounts receivable
balance on the last day of the initial Measurement Period and (ii) with respect
to all Measurement Periods following the initial Measurement Period, (A) if the
gross accounts receivable of the Companies on the last day of such Measurement
Period is less than the gross accounts receivable of the Companies on the last
day of the prior Measurement Period, then the amount of such decrease shall be
added to “Adjusted Gross Revenue” for such Measurement Period, and (B) if the
gross accounts receivable of the Companies on the last day of such Measurement
Period is greater than the gross accounts receivable of the Companies on the
last day of the prior Measurement Period, then the amount of such increase shall
be subtracted from “Adjusted Gross Revenue” for such Measurement
Period.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b)  In
order to allow sufficient time to determine the amount of the Earnout Payments,
the Purchaser shall have a thirty (30) day grace period on the due date for all
Earnout Payments.

    

    2.           Miscellaneous.  Except
as otherwise specifically set forth in this Amendment, all provisions of the
Purchase Agreement that are not amended by this Amendment shall remain in full
force and effect.  This Amendment and the Purchase Agreement
constitute collectively the entire agreement among the Parties with respect to
the subject matter of this Amendment and supersede all prior agreements and
understandings, both written and oral, among the Parties with respect to the
subject matter of this Amendment.  This Amendment may be amended or
modified only by an instrument in writing duly executed by the
Parties.  This Amendment is binding upon, inures to the benefit of and
is enforceable by the Parties and their respective successors and
assigns.

    

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.

    

    
      
        	
                Company:

              
	 
      
	
                HOLLYWOOD
      MEDIA CORP.

              
	 
      	 
      
	 
      	 
      
	
                By:

              	
                /s/ Robert D. Epstein

              
	
                Name:

              	
                Robert
      D. Epstein

              
	
                Title:

              	
                Chairman,
      Special Committee of

              
	 
      	
                Directors,
      on behalf of Special Committee,

              
	 
      	
                as
      Authorized Representative of

              
	 
      	
                Hollywood
      Media Corp.

              

      

    

     

    

    
      
        	
                Purchaser:

              
	 
      
	
                R&S
      INVESTMENTS, LLC

              
	 
      	 
      
	 
      	 
      
	
                By:

              	
                /s/ Mitchell Rubenstein

              
	
                Name:

              	
                Mitchell
      Rubenstein

              
	
                Title:

              	
                Managing
      Member

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