Document:

Exhibit

SECOND AMENDMENT TO SECURITIES PURCHASE AGREEMENT

This Second Amendment to Securities Purchase Agreement (this “Amendment”), dated as of May 6, 2016, is being entered into by and among (i) Digital Turbine Media, Inc. (f/k/a Appia, Inc.), a Delaware corporation (“DT Media”), (ii) Digital Turbine USA, Inc. (f/k/a Digital Turbine, Inc.), a Delaware corporation (“DT USA” and together with DT Media, the “Companies” with each, a “Company”), and (iii) North Atlantic SBIC IV, L.P., a Delaware limited partnership (the “Purchaser” and collectively with the Companies, the “Parties” with each, a “Party”). Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Purchase Agreement (as defined below).

RECITALS

WHEREAS, the Parties have entered into that certain Securities Purchase Agreement, dated as of March 6, 2015, as amended by the Amendment to Securities Purchase Agreement, dated February 17, 2016 (as the same may from time to time be further amended, modified, supplemented or restated, the “Purchase Agreement”); and

WHEREAS, in accordance with Section 11.1 of the Purchase Agreement, the Parties have agreed to further amend the Purchase Agreement pursuant to this Amendment, as set forth herein.

AGREEMENT

In consideration of the mutual covenants and promises contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, each Party agrees to amend the Purchase Agreement as follows:

1.         Amendment to Purchase Agreement.   The third sentence of Section 2.8(c) is hereby deleted in its entirety and replaced with the following:  “On May 6, 2016, Digital Turbine Media,  Inc.  (f/k/a  Appia,  Inc.)  shall  pay  to  Purchaser  the  amount  of  One  Hundred  Forty Thousand Dollars ($140,000) as a restructuring fee.”

2.         Effective Date; Conditions Precedent.   This Amendment will become effective upon (a) its execution by the Parties, (b) evidence, as reasonably requested by Purchaser, of the due execution and delivery of this Amendment by the Companies and the power and authority of the Companies to enter into this Amendment, and (c) receipt by Purchaser, in immediately available funds, of (i) One Hundred Forty Thousand Dollars ($140,000) as a restructuring fee, and (ii) an amount equal to all other reasonable fees and expenses (including attorneys’ fees and expenses) incurred by Purchaser in connection with the preparation, negotiation and execution of this Amendment.

3.         Headings.   The headings of the Sections herein are inserted for convenience of reference only and are not intended to be a part of or affect the meaning or interpretation of this Amendment.

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4.         Severability.     Any  provision  of  this  Amendment  which  is  prohibited  or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such  prohibition  or  unenforceability  in  any  jurisdiction  shall  not  invalidate  or  render unenforceable such provision in any other jurisdiction.

5.         Governing  Law.    This  Amendment  shall  be  governed  by,  and  construed  in accordance with, the laws of the State of New York, as such laws are applied to contracts entered into and performed in such State, without reference to principles of conflicts of laws.

6.       Counterparts; Electronic Signatures.   This Amendment may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.  The Parties agree that this Amendment shall be legally binding upon the electronic transmission, including by facsimile or email, by each Party of a signed signature page to this Amendment to the other Parties.

7.         Full Force and Effect; No Obligation for Other Amendments.  Each of the Parties hereto confirms that this Amendment is intended to be a part of, and will serve as a valid, written amendment to, the Purchase Agreement.  Except as otherwise set forth in this Amendment, this Amendment shall not, by implication or otherwise, alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Purchase Agreement, the Unconditional Secured Guaranty and Pledge Agreement, dated March 6, 2015, from DT USA to Purchaser, or any other instrument, document or agreement executed in connection therewith or referred to therein (collectively, the “Documents”), which are hereby ratified and affirmed in all respects and shall continue in full force and effect, and this Amendment will not operate as an extension or waiver by the parties to the Documents of any other condition, covenant, obligation, right, power or privilege under the Documents.   This Amendment relates only to the specific matters covered herein, and shall not be considered to create a course of dealing or to otherwise obligate any party to the Documents to execute similar amendments or grant any waivers under the same or similar circumstances in the future.

[Signature Page Follows]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on their respective behalf, by their respective officers thereunto duly authorized all as of the day and year first above written.

	
		
	DT MEDIA:

	 
	 

	DIGITAL TURBINE MEDIA, INC.

	 
	 

	By:
	

	Name:
	Andrew Schleimer

	Title:
	CFO, Digital Turbine, Inc.

	
		
	DT USA:

	 
	 

	DIGITAL TURBINE USA, INC.

	 
	 

	By:
	

	Name:
	Andrew Schleimer

	Title:
	CFO, Digital Turbine, Inc.

	
		
	PURCHASER:

	 
	 

	NORTH ATLANTIC SBIC IV, L.P.

	 
	 

	By:
	North Atlantic Investors SBIC IV, LLC 
General Partner 

	By:
	 

	Name:
	David M. Coit

	Title:
	Managing Director

[Signature Page to Second Amendment to Securities Purchase Agreement]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed on their respective behalf, by their respective officers thereunto duly authorized all as of the day and year first above written.

	
		
	DT MEDIA:

	 
	 

	DIGITAL TURBINE MEDIA, INC.

	 
	 

	By:
	 

	Name:
	 

	Title:
	 

	
		
	DT USA:

	 
	 

	DIGITAL TURBINE USA, INC.

	 
	 

	By:
	 

	Name:
	 

	Title:
	 

	
		
	PURCHASER:

	 
	 

	NORTH ATLANTIC SBIC IV, L.P.

	 
	 

	By:
	North Atlantic Investors SBIC IV, LLC 
General Partner 

	By:
	

	Name:
	David M. Coit

	Title:
	Managing Director

[Signature Page to Second Amendment to Securities Purchase Agreement]

4Exhibit 10.2

 

SUBSCRIPTION AGREEMENT

The Royal Country Club and Recreation Holdings, Inc.,

a Nevada corporation

On the terms and subject to the conditions specified in that certain Prospectus dated June _____, 2016 (the “Prospectus”), and filed with the Securities and Exchange Commission (the “SEC”), The Royal Country Club and Recreation Holdings, Inc., a Nevada corporation (the “Company”), is offering for sale a maximum of 16,000,000 shares of its common stock (“Offered Shares”) at a purchase price of $.025 per Offered Share.

Those defined (capitalized) terms used in this Subscription Agreement without definitions specified in this Subscription Agreement shall have the same definitions and meanings specified by the applicable provisions of the Prospectus.

This Subscription Agreement must be completed and delivered to:

The Royal Country Club and Recreation Holdings, Inc.

Room E, 4F., No. 106, Zhouzi Street, Neihu District

Taipei City, 114, Taiwan (Republic of China)

Subscriptions must be funded (at a price of $.025 per Offered Share) by check, bank draft or wire transfer.

Subscriptions will only be accepted from persons or entities that, in the opinion of management of the Company, are capable of bearing the risks associated with an investment in the Company.

How to Subscribe

To subscribe for Offered Shares, you must complete this Subscription Agreement and pay the appropriate subscription price.

Directions for the Subscription Agreement are as follows:

	1.	Be sure to provide your correct name and address, as this information will appear on the official records of the Company.

2. Sign and be sure that you have checked and initialed the appropriate type of ownership.

	3.	Signature and Supporting Material Requirements ‐ The following requirements have been established for the various ways in which Offered Shares may be purchased and held other than by you as an individual:

HUSBAND AND WIFE: The signatures of both husband and wife are required, unless a separate document signed by both parties and designating either party as agent of the other party for purposes of signing accompanies the Subscription Agreement.

OTHER FORM OF CO-OWNERSHIP: The signatures of all parties are required.

 

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PARTNERSHIP: The Subscription Agreement must be accompanied by a copy of the signed partnership agreement.

TRUST: The Subscription Agreement must be accompanied by a copy of the signed trust agreement.

CORPORATION: The Subscription Agreement must be accompanied by a certified copy of the resolution of the Board of Directors of the subscribing corporation designating the officer(s) of that corporation authorized to sign on behalf of that corporation and of the resolution of that Board of Directors authorizing the purchase of Offered Shares.

4. Furnish the following:

		(a)	Completed Subscription Agreement

		(b)	Supporting material if required (Item 3 above).

		(c)	A check, bank draft or bank wire in the amount of your subscription (see below).

By signing this Subscription Agreement, without waiving any of your rights pursuant to applicable federal or state laws, you covenant and agree as follows:

1. You acknowledge that you have received a copy of the Prospectus.

	2.	On the terms and subject to the conditions of the Prospectus and this Subscription Agreement, you hereby subscribe for the number of Offered Shares specified below for a subscription price of $0.01 per Offered Share.  You hereby agree that this subscription shall be irrevocable and shall survive your death or disability.  Payment of the purchase price for Offered Shares is due upon subscription.

	3.	You acknowledge and agree that (i) management of the Company has the right to accept or reject this subscription in whole or in part, and (ii) this subscription shall be deemed to be accepted by the Company only when this Subscription Agreement is signed by the officers of the Company authorized to sign this Subscription Agreement on behalf of the Company. You agree that subscriptions need not be accepted by the Company.  You agree that subscriptions need not be accepted by the Company in the order in which subscriptions are received.

4. You are not relying on the Company or its affiliates with respect to economic considerations involved in connection with your purchase of Offered Shares. You have relied solely upon such independent investigations made by you or by your representatives in making your decision to purchase Offered Shares, and except for the Prospectus, no oral or written representations have been made to, or relied upon by, you in connection with that decision.

5. You have the requisite knowledge and experience to evaluate the relative business aspects and risks, or you have relied upon the advice of experienced advisors with regard to business aspects and risks, and other considerations involved in purchasing Offered Shares.

6. You acknowledge that although the Offered Shares are registered with the SEC pursuant to the Securities Act of 1933, there may be restrictions regarding the resale of the Offered Shares imposed by the securities laws of the particular jurisdiction in which you reside. Accordingly, you will not offer or sell Offered Shares in any jurisdiction, unless you obtain all required consents, if any.

  

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7. You understand that a purchase of Offered Shares is a speculative investment, which involves significant risks and the potential loss of the entire amount you paid for Offered Shares.

9. You acknowledge that no federal or state agency has (a) made any finding or determination as to the fairness of a purchase of Offered Shares, (b) made any recommendation or endorsement of the Offered Shares, or (c) guaranteed or insured any investment in the Offered Shares or any investment made by the Company.

10. You understand that the price of the Offered Shares has no relation to the assets, book value or net worth of the Company and has been determined arbitrarily by the Company.

11. It has been called to your attention by the Prospectus that the Company has been formed quite recently and has no history of earnings.

12. It has been called to your attention by the Prospectus that the amount you pay the Company for your purchase of Offered Shares will not be deposited in an escrow or similar account; but, rather, that amount shall be made available to the Company immediately upon its acceptance of your subscription.

13. You and your representatives have had the opportunity to discuss all material aspects regarding a purchase of Offered Shares with management of the Company, and any and all questions asked have been answered to the full and complete satisfaction of you and your representatives.

14. You have adequate net worth and means of providing for your current needs and contingencies to sustain a complete loss of your investment in the Company at the time of investment, and have no need for liquidity in connection with the Offered Shares purchased by you. You currently can afford a complete loss of the amount you will pay for those Offered Shares.

15. You have attained the age of majority (as established in the state in which you reside), if an individual, and you have no legal disability with respect to entering into a contractual relationship with the Company and executing this Subscription Agreement.

16.. If and when this Subscription Agreement is accepted by the Company, you will have purchased the number of Offered Shares set forth above your signature on the signature page of this Subscription Agreement. The Offered Shares which you offer to purchase hereby shall not be deemed issued to, or owned by, you until (a) you have fully paid the applicable purchase price for the Offered Shares and (b) the Company has accepted your offer to purchase. The Company shall have until the closing date of the offering of Offered Shares or any extension of that offering to accept or reject your offer, at its sole discretion.

Number of Offered Shares Subscribed for:

You are subscribing to purchase a total of ________ Offered Shares at $.025 per Offered Share ($_______________) by (check and initial applicable line):

	  [  ]	 ____________                                        	$_____________                          	(for _____ Offered Shares) paid by check

	  [  ]	 ____________                                        	$_____________                          	(for _____ Offered Shares) paid by bank draft

	  [  ]	 ____________                                        	$_____________                          	(for _____ Offered Shares) paid by wire transfer

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Payment Instructions

	MAKE CHECK PAYABLE TO:	“The Royal Country Club and Recreation Holdings, Inc.”

MAIL TO:  Room E, 4F., No. 106, Zhouzi Street, Neihu District, Taipei City, 114, Taiwan (Republic of China)

WIRE TRANSFER INSTRUCTIONS:

__________ Bank

________________

________________

________________

Routing Number: __________

Swift Code: ______________

Account Number: _________

Print name(s) in which Offered Shares are to be registered:

For details, see How to Subscribe (above)

NAME: (1)____________________________________                                                                                                                                                                                      

NAME: (2)____________________________________                                                                                                                                                                                      

Address: _____________________________________                                                                                                                                                                                     

 ____________________________________________                                                                                                                                                                                       

Title to your purchased Offered Shares is to be held as follows (check and initial one):

(a)________                                    Husband & Wife

(b)________                                    Individual

(c)________                                   Corporation

(d)________                                    Partnership

(e)________                                    Trust

(f)________                                      Other                          Please describe:__________________________________________           

                                                                                      

 

NOTE:  BY SIGNING THIS SUBSCRIPTION AGREEMENT AND UPON ACCEPTANCE THEREOF, YOU ARE ENTERING INTO AN AGREEMENT AND AGREEING TO INVEST MONEY WITH THE COMPANY.

The undersigned hereby certifies that the undersigned has answered the foregoing to the best of the undersigned’s knowledge, that the undersigned’s answers are complete and accurate, and the undersigned declares under penalty of perjury that the foregoing is true and correct.

 

This Subscription Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter hereof.

DATED:______________________ , 201__, at___________________________                                                                                                  

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(1)___________________________                 (2)____________________________                                                                                 

 

NOTE: If Offered Shares are to be registered in more than one name, all subscribers must sign.

Acceptance of Subscription

Agreed to and accepted:

By:          The Royal Country Club and Recreation Holdings, Inc.,

a Nevada corporation

By:          ________________________________________

Its:          President

 

 

 

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