Document:

Exhibit 10.22

  

AMENDMENT AGREEMENT

 

This Amendment Agreement
(“Agreement”), dated as of February 11, 2019, is made by and between JGB Capital, LP, JGB Capital Partners,
LP and JGB (Cayman) Finlaggan Ltd. (collectively, the “Holder” and each a “Holder”), LiveXLive
Media, Inc., a Delaware corporation (the “Company”), JGB Collateral LLC, a Delaware limited liability company
(the “Agent”), as agent for the Holders, and each entity executing this Agreement as a Guarantor.

 

WHEREAS, the Holder
and the Company entered into a Securities Purchase Agreement dated as of June 29, 2018 (as the same may be amended, amended and
restated, supplemented or otherwise modified from time to time in accordance with its provisions, the “Purchase Agreement”),
whereby the Company issued to the Holders, and the Holders acquired from the Company, 12.75% Original Issue Discount Senior Secured
Debentures due June 29, 2021, in the aggregate original principal amount of $10,640,000 (as the same may be amended, amended and
restated, supplemented or otherwise modified from time to time in accordance with its provisions, collectively the “Debentures”
and each a “Debenture”);

 

WHEREAS, the Company
has requested that the Holders make an additional senior secured investment in the Company of $3,192,000 ($3,000,000 of actual
availability after deduction of original issue discount) (the “Additional Investment”); and

 

WHEREAS, the parties
desire to enter into this Agreement and amendments to each Debenture in substantially the form attached hereto as Exhibit A,
Exhibit B and Exhibit C (collectively the “Debenture Amendments” and each a “Debenture
Amendment”) in order to reflect the foregoing request of the Company.

 

NOW, THEREFORE, in
consideration of the premises set forth above and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

 

1. Definitions.
Capitalized terms used and not defined in this Agreement shall have the respective meanings given such terms in the Purchase Agreement
or the Debentures, as applicable.

 

2. Certain Reaffirmations
and Reconfirmation of Security Interest and Subsidiary Guaranty.

 

(a) The Purchase Agreement,
Debentures, Security Agreement and the other Transaction Documents are legal, valid, binding and enforceable against the Holder
and Guarantors in accordance with their respective terms. The terms of the Transaction Documents remain unchanged, except as modified
pursuant to this Agreement and the Debenture Amendments.

 

     

     

    

 

(b) The Company’s
and each Guarantor’s respective obligations under the Transaction Documents are not subject to any setoff, deduction, claim,
counterclaim or defenses of any kind or character whatsoever.

 

(c) Holders and Agent
have valid, enforceable and perfected security interests in and liens on the Collateral, as to which there are no setoffs, deductions,
claims, counterclaims, or defenses of any kind or character whatsoever.

 

(d) Nothing herein
or the Debenture Amendments shall impair or limit the continuation of the liens and security interests granted to the Holders and/or
the Agent under the Security Agreement or the other Security Documents, which liens are continued in full force and effect pursuant
to and as provided therein. The Company and each Guarantor agrees that any reference to the Debenture in any Security Document
means the Debenture as amended pursuant to this Agreement and the Debenture Amendments. The Company and each Guarantor acknowledges
the continuing existence and priority of all liens and security interests granted, conveyed, and assigned pursuant to the Security
Documents in accordance with the terms thereof, and agrees to perform such acts and duly authorize, execute, acknowledge, deliver,
file, and record such additional documents and certificates as the Holders or the Agent request in order to perfect, preserve,
and protect such liens and security interests.

 

(e) Each Guarantor
acknowledges this Agreement and the Debenture Amendments, including without limitation the Additional Investment contemplated hereby
and thereby, and ratifies, and confirms that, the Subsidiary Guarantee executed by such Guarantor is not released, diminished,
impaired, reduced, or otherwise adversely affected by this Agreement and continues to guarantee and assure the full payment and
performance of all present and future obligations under the Debentures (as amended by this Agreement and the Debenture Amendments)
and the other Transaction Documents.

 

(f) The Holders and
the Agent have fully and timely performed all of their obligations and duties in compliance with the Transactions Documents and
applicable law, and have acted reasonably, in good faith, and appropriately under the circumstances.

 

3. Additional Investment.
On the Effective Date, the Holders will, jointly and not severally, make the Additional Investment on the terms and subject to
the conditions set forth in this Agreement and the Debenture Amendments.

 

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4. Representations
and Warranties. The Company and each Guarantor represents and warrants, severally and jointly, to the Holder that:

 

(a) Authorization;
Enforcement. The Company and each Guarantor has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery
of this Agreement by the Company and each Guarantor and the consummation by each of them of the transactions contemplated hereby
have been duly authorized by all necessary action on the part of the Company and each such Guarantor and no further action is required
by the Company or any Guarantor in connection herewith. The execution and delivery of the Debenture Amendments by the Company and
the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of
the Company and no further action is required by the Company in connection therewith. This Agreement has been (or upon delivery
will have been) duly executed by the Company and each Guarantor and, when delivered in accordance with the terms hereof, will constitute
the valid and binding obligation of the Company and each Guarantor enforceable against them in accordance with its terms, except:
(i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws
of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability
of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions
may be limited by applicable law (clauses (i) – (iii) collectively, the “Enforceability Limitations”).
The Debenture Amendments have been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance
with the terms thereof, will constitute the valid and binding obligation of the Company enforceable against it in accordance with
its terms subject to the Enforceability Limitations.

 

(b) No Conflicts.
The execution, delivery and performance by the Company and each Guarantor of this Agreement and the execution, delivery and performance
by the Company of the Debenture Amendments, and the consummation by each of them of the transactions contemplated hereby and thereby
do not and will not: (i) conflict with or violate any provision of the Company’s or any such Guarantor’s certificate
or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any
of the properties or assets of the Company or any Guarantor, or give to others any rights of termination, amendment, acceleration
or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, securities purchase agreement,
debt or other instrument (evidencing a Company or Guarantor Indebtedness or otherwise) or other understanding to which the Company
or any Guarantor is a party or by which any property or asset of the Company or any Guarantor is bound or affected, or (iii) conflict
with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court
or Governmental Authority to which the Company or a Guarantor is subject (including federal and state securities laws and regulations),
or by which any property or asset of the Company or a Guarantor is bound or affected.

 

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(c) Absence of Defaults.
After giving effect to the Debenture Amendments, no Event of Default has occurred or is continuing. The Company and each Guarantor
have complied in all material respects with their respective obligations under the Transaction Documents.

 

(d) Solvency.
Based on the consolidated financial condition of the Company and its Subsidiaries taken as a whole, after giving effect to the
transactions contemplated by this Agreement and the Debenture Amendments: (i) the fair saleable value of the Company’s assets
exceeds the amount that will be required to be paid on or in respect of the Company’s existing Indebtedness and other liabilities
(including known contingent liabilities) as they mature, (ii) the Company’s assets do not constitute unreasonably small capital
to carry on its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular
capital requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability
thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate
all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in
respect of its liabilities when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability
to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt).
The Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation
under the bankruptcy or reorganization laws of any jurisdiction within one year from the date of this Agreement.

 

(e) Absence of Material
Adverse Effect. Since September 30, 2018, there has been no event, occurrence or development that has had or that could reasonably
be expected to result in a Material Adverse Effect.

 

(f) Representations
and Warranties in Transaction Documents. The representations and warranties set forth in each Transaction Document shall, in
each case, be true and correct in all respects with the same effect as made on the Effective Date (unless stated to relate solely
to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of
such earlier date), in each case, except as set forth in (i) the Company’s most recent periodic report filed with the Commission
and (ii) the disclosure schedules thereto or in the disclosure schedules delivered by the Company in connection with this Agreement.

 

5. Conditions Precedent.
This Agreement and the Debenture Amendments shall become effective upon the date (the “Effective Date”) on which
the Holders and the Agent shall have received:

 

(a) this Agreement,
duly executed and delivered by the Company and each Guarantor;

 

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(b) each Debenture
Amendment duly executed and delivered by the Company (with “wet ink” originals delivered to the Agent within two Business
Days after the Effective Date);

 

(c) lien search results
from the Secretary of State of the State of Delaware with respect to the Company and each Guarantor with results satisfactory to
the Holders and Agent;

 

(d) the Holders and
Agent shall have received all fees, costs and expenses (including attorneys’ fees) incurred in connection with the preparation
and negotiation of this Agreement and the Debenture Amendments;

 

(e) satisfactory evidence
that all corporate and other proceedings that are necessary in connection with this Agreement and the Debenture Amendments have
been taken to the Holders’ and the Agent’s satisfaction;

 

(f) a written acknowledgment
and acceptance of the transactions contemplated by this Agreement and the Debenture Amendments by Trinad Capital Master Fund, Ltd.,
in its capacity as a subordinated lender pursuant to the Subordination Agreement, dated June 29, 2018, by and among the Company,
the Guarantors, Agent and Trinad Capital Master Fund, Ltd.; and

 

(g) all statements
set forth in Sections 2 and 4 herein shall be true and correct as of the Effective Date, and the Holders and Agent shall have received
a certificate, dated as of the Effective Date and in form and substance satisfactory to the Holders and the Agent, duly executed
and delivered by the Chief Executive Officer or Chief Financial Officer of the Company, in which certificate the Company shall
certify, represent and warrant that, at the time such certificate is delivered, (i) all statements, representations and warranties
set forth in Sections 2 and 4 are true and correct immediately before and immediately after giving effect to the Effective Date,
and (ii) all of the conditions set forth in this Section 5 have been satisfied.

 

6. Transaction Documents.
The parties hereto agree that this Agreement and the Debenture Amendments are Transaction Documents. In addition, all references
in the Transaction Documents to the Debentures shall be deemed to mean the Debentures as amended by the Debenture Amendments. This
Agreement and the Debentures Amendments, together with the Transaction Documents, are the entire agreement among the parties with
respect to the subject matter hereof.

 

7. No Modification.
Except as expressly set forth in this Agreement and the Debenture Amendments, nothing contained in this Agreement shall be deemed
or construed to amend, supplement or modify the Debentures or the other Transaction Documents or otherwise affect the rights and
obligations of any party thereto, all of which remain in full force and effect.

 

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8. Successors and
Assigns; Survival. This Agreement shall inure to the benefit of and be binding upon each of the parties hereto, and each of
their respective successors and assigns. The representations and warranties of the Company and the Guarantors shall survive the
consummation of the transactions contemplated by this Agreement.

 

9. Governing Law.
This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. The parties agree that
the state and federal courts located in New York County, New York shall have exclusive jurisdiction over any action, proceeding
or dispute arising out of this Agreement and the parties submit to the personal jurisdiction of such courts.

 

10. Counterparts.
This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same agreement, and any
party hereto may execute this Agreement by signing and delivering one or more counterparts. Delivery of an executed counterpart
of this Agreement electronically or by facsimile shall be effective as delivery of an original executed counterpart of this Agreement.

 

11. Disclosure.
The Company will disclose the material terms of this Agreement, the Debenture Amendments and the transactions contemplated hereby
and thereby by not later than 5:30 p.m. (New York City time) on the second Trading Day following the date hereof by means of a
Current Report on Form 8-K or Quarterly Report on Form 10-Q (in either case, a “Report”) filed with the Commission.
The Report shall include as exhibits this Agreement and Debenture Amendments. The Company and Holders shall consult with each other
in preparing any such Report. From and after the filing of the Report with the Commission, the Company acknowledges and agrees
that the Holders shall not be in possession of any material, nonpublic information received from the Company, any of its Subsidiaries
or any of their respective officers or directors.

 

[SIGNATURE PAGE FOLLOWS]

 

    6 

     

    

 

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

 

	LiveXLive Media, Inc., as the Company	 	Slacker, Inc., as Guarantor
	 	 	 	 	 
	By:	/s/ Robert Ellin	 	By:	/s/ Robert Ellin
	Name:	Robert Ellin	 	Name:	Robert Ellin
	Title:	CEO	 	Title:   	Executive Chairman
	 	 	 	 	 
	LiveXLive, Corp., as Guarantor	 	LXL Studios, Inc., as Guarantor
	 	 	 	 	 
	By:	/s/ Robert Ellin	 	By:	/s/ Robert Ellin
	Name:	Robert Ellin	 	Name:	Robert Ellin
	Title:	CEO	 	Title:	President
		 	 	 	 
	JGB (Cayman) Finlaggan Ltd., as Holder	 	JGB Capital, LP, as Holder
	 	   	 	 	 
	By:	/s/ Brett Cohen	 	By:	/s/ Brett Cohen 
	Name:	Brett Cohen	 	Name:	Brett Cohen
	Title:	President	 	Title:	President
	 	 	 	 	 
	JGB Partners, LP, as Holder	 	JGB Collateral LLC, as Agent
	 		 	 	 
	By:	/s/ Brett Cohen 	 	By:	/s/ Brett Cohen 
	Name:	Brett Cohen	 	Name:	Brett Cohen
	Title: 	President    	 	Title:	President

 

    7Exhibit 10.23

  

AMENDMENT NO. 1 TO THE LIVEXLIVE MEDIA,
INC. 

2016 EQUITY INCENTIVE PLAN

 

WHEREAS, the Board of
Directors and stockholders of LiveXLive Media, Inc. (the “Company”) have previously adopted the LiveXLive Media, Inc.
2016 Equity Incentive Plan (the “Plan”);

 

WHEREAS, pursuant to
Section 3(a) of the Plan, a total of seven million six hundred thousand (7,600,000) shares of the Company’s common stock,
$0.001 par value per share (the “Common Stock”), have been reserved for issuance under the Plan;

 

WHEREAS, the Company
desires to increase the number of shares issuable under the Plan by five million (5,000,000) to twelve million six hundred thousand
(12,600,000) shares, including shares previously issued thereunder;

 

WHEREAS, the Company
desires to make certain other changes to the Plan as more fully discussed below, and Section 19 of the Plan permits the Company
to amend the Plan from time to time, subject to certain limitations specified therein; and

 

WHEREAS, this Amendment
No. 1 to the Plan has been approved by the Company’s stockholders on November 29, 2018.

 

NOW, THEREFORE, the
following amendments and modifications are hereby made a part of the Plan:

 

1. Section 3(a) of the
Plan is hereby amended and restated in its entirety to read as follows:

 

“(a) Maximum
Aggregate Number of Shares. Subject to the provisions of Section 14 hereof, the maximum aggregate number of Shares that may
be awarded and sold under the Plan is Twelve Million Six Hundred Thousand (12,600,000) Shares. The Shares may be authorized, but
unissued, or reacquired Common Stock.”

 

2. Section 6(c)(i) of
the Plan is hereby amended and restated in its entirety to read as follows:

 

“(i) Exercise
Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by the
Administrator, but will be no less than 100% of the Fair Market Value per Share on the date of grant. In addition, in the case
of an Incentive Stock Option granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing
more than 10% of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price
will be no less than 110% of the Fair Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of
this Section 6(c), Options may be granted with a per Share exercise price of less than 100% of the Fair Market Value per Share
on the date of grant pursuant to the issuance or assumption of an Option in a transaction to which Section 424(a) of the Code applies
in a manner consistent with said Section 424(a). In no event may any Option granted under the Plan be amended, other than pursuant
to Section 14, to decrease the exercise price thereof, be cancelled in conjunction with the grant of any Option with a lower exercise
price, be cancelled for cash or other Award or otherwise be subject to any action that would be treated, for accounting purposes,
as a “repricing” of such Option, unless such amendment, cancellation, or action is approved by the Company’s
stockholders.”

 

     

     

    

 

3. Section 7(c) of the
Plan is hereby amended and restated in its entirety to read as follows:

 

“(c) Exercise
Price and Other Terms. The Administrator, subject to the provisions of the Plan, will have complete discretion to determine
the terms and conditions of Stock Appreciation Rights granted under the Plan; provided, however, that the exercise price will be
not less than 100% of the Fair Market Value of a Share on the date of grant. Exercise Price. In no event may any Stock Appreciation
Right granted under the Plan be amended, other than pursuant to Section 14, to decrease the exercise price thereof, be cancelled
in conjunction with the grant of any Stock Appreciation Right with a lower exercise price, be cancelled for cash or other Award
or otherwise be subject to any action that would be treated, for accounting purposes, as a “repricing” of such Stock
Appreciation Right, unless such amendment, cancellation, or action is approved by the Company’s stockholders.”

 

4. In all other respects,
the Plan, as amended, is hereby ratified and confirmed and shall remain in full force and effect.

 

IN WITNESS WHEREOF,
the Company has executed this Amendment No. 1 to the Company’s 2016 Equity Incentive Plan as of February 11, 2019.

 

	 	
        LIVEXLIVE MEDIA, INC.

	 	 	 
	 	By:	/s/
Robert S. Ellin
	 	Name:	Robert S. Ellin
	 	Title:	
        Chief Executive Officer and

        Chairman of the Board of Directors

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