Document:

Exhibit
10.1

    

    AMENDMENT
NUMBER ONE TO SECURITIES EXCHANGE AGREEMENT

    BETWEEN

    EGPI
FIRECREEK, INC.,

    WADE
CLARK,

    DAVID
SHEPARD,

    AND

    TERRA
TELECOM, LLC

    

    This
Amendment Number One to Securities Exchange Agreement (“Amendment One”) is
entered into by and between EGPI FIRECREEK, INC., a Nevada corporation (“EGPI”),
WADE CLARK, an individual who resides at the address indicated on the signature
page hereof (“WADE”), DAVID SHEPARD, an individual who resides at the address on
the signature page hereof (“DAVID”) and the other individuals listen on Exhibit
A, residing at the locations listed on Exhibit A, (who together are hereinafter
sometimes referred to individually as a “SELLER” and collectively as, the
“SELLERS”), and TERRA TELECOM, LLC., (the “COMPANY”) (EGPI, Wade, David, Sellers
and the Company are hereinafter collectively referred to as the
“Parties”).

     

    Whereas
on or about September 30th, 2010
the Parties executed that certain Securities Exchange Agreement (the
“Agreement”) and desire to amend the Agreement as hereinafter set forth;
and

     

    WHEREAS,
the Agreement is incorporated herein by reference for all purposes, and all
capitalized terms herein shall have the same meaning as defined in the
Agreement; and

     

    NOW,
THEREFORE, in consideration of the mutual covenants and premises contained
herein, and for other good and valuable consideration, the receipt and adequacy
of which are hereby conclusively acknowledged, the parties hereto, intending to
be legally bound, agree as follows:

     

    1.           Amendment to the Recitals of
the Agreement.  Recital A, Recital C, Recital D, Recital E,
Paragraph 1.1 Purchase and Sale, Paragraph 1.2 are hereby amended as
follows:

     

    (a)    Recital
A of the Agreement is deleted and restated in its entirety as
follows:

     

    “The
Sellers own all of the issued and outstanding ownership interests of the Company
and desire to exchange all of their interests in the Company for Common Stock of
Purchaser as set forth herein (the “Common Stock” or the
“Securities”)”

    

    (b)    Recital
C is stricken from the Agreement

    

    (c)    Recital
D of the Agreement is deleted and restated in its entirety as
follows:

     

    “In
exchange for each of the Sellers’ ownership interest in the Company which in the
aggregate equal 100%, the Sellers’ shall each acquire upon the terms and
conditions stated in this Agreement, (i) that aggregate number of shares of
Common Stock set forth opposite such person’s name in column (3) on the
Schedule of Buyers attached hereto as Exhibit A”

     

    (d)    Recital
E of the Agreement is deleted and restated in its entirety as
follows:

     

    “Contemporaneously
with the execution and delivery of this Agreement and in consideration for the
issuance of the Common Stock, the Sellers’ shall transfer 100% of the
unencumbered ownership interest in the Company owned by each of them, upon the
terms and conditions set forth herein”

     

    (e)    Paragraph
1.1 Purchase and Sale of the Agreement is amended to read as
follows:

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    2.      Article
1 of the Agreement is amended as follows:

     

    (a)    Section
1.1 is deleted and restated in its entirety as follows:

     

    1.1           “PURCHASE
AND SALE. Subject to the terms and conditions of this Agreement, the Sellers
each agree to exchange all of the outstanding ownership interests of the Company
owned by each of them (“MEMBER UNITS” or “UNITS” or “SHARES”)
for    that aggregate number of shares of Common Stock set
forth opposite such person’s name in column (3) on the Schedule of
Buyers attached hereto as Exhibit A. The aggregate number of shares of Common
Stock reflected on Exhibit A is Thirty Million (30,000,000) which is hereinafter
referred to as the “Purchase Price”, subject to effects and adjustments
retroactively of a 1:50 reverse stock split of EGPI’s common stock effective on
November 9, 2010 (see Exhibit A1).

     

    (b)    Section
1.2 of the Agreement is deleted and restated in its entirety as
follows:

     

    “1.2         Sellers’
Earn-Out

    

    1.2.1        In
addition to the Purchase Price, the Sellers
shall,  for  a  period  of twenty-four
(24) months following the Closing Date (the "EARN-OUT  TERM"), be
entitled to receive additional shares of Common Stock  (the “Earn-out
Provision” or “Earn-out”) based upon the financial performance of the Company
set forth below:

     

    1.2.1(a).                 If
as of January 1, 2013 (the “FIRST EARN-OUT DATE”) the average annual revenues of
the Company for the two (2) previous calendar years (i.e.  the
calendar years ending January 1, 2012 and January 1, 2013 and which are
hereinafter referred to as the “First Earn Out Period”) is determined to be (the
“Revenue Determination”) not less than Twenty Million Dollars ($20,000,000) (the
“Revenue Milestone”) and the average EBITDA of the Company for the First Earn
Out Period is determined to be (the “EBITDA Determination”) not less than two
(2) million dollars ($2,000,000) (the “EBITDA Milestone”) then the Company
shall  issue to the Sellers in the same proportion as appears on
Exhibit A, the amount  of 30,000,000 shares of the Purchaser’s common
stock (the “First Earn Out Maximum”).. The Revenue Determination and the EBITDA
Determination shall be weighted equally and made within One Hundred and Twenty
(120) days following the end of the First Earn Out period and shall be made
according to GAAP by an independent certified public accounting firm acceptable
to the Parties the cost of which shall be split equally between Purchaser and
Sellers.  In the event either the Revenues Determination or the EBITDA
Determination is less than either the Revenue Milestone or the EBITDA Milestone,
respectively then the First Earn Out Maximum shall be prorated giving equal
weight to Revenue and EBITDA. For example, if the Revenue Determination at the
First Earn-Out Date is $19,975,000.00 rather than $20,000,000.00, the quotient
obtained by dividing $19,975,000.00 by $20,000,000.00 is 0.9988.  The
weighted quotient for revenue obtained is .4994. If the EBITDA Determination at
the First Earn-Out Date is $1,875,000.00 rather than $2,000,000.00, the quotient
obtained by dividing $1,875,000.00 by $2,000,000.00 is 0.9375.  The
weighted quotient for EBITDA obtained is .4688. The sum of the weighted quotient
for revenue and EBITDA is .9681. The 30,000,000 number of shares of the EGPI
Common Stock will then be multiplied by 0.9681 with a result of
29,043,750.  Thereafter, 956,250 number of shares of the EGPI Common Stock
will then remain issuable upon the Company meeting the performance criteria
outlined below for the Second Earn-Out Date.

     

    1.2.1(b).                 If
the performance criteria in section.1.2.1 (a) is not met for the First Earn-Out
Period, then on January 1, 2014 (“SECOND EARN-OUT DATE”) Sellers shall have the
opportunity to earn any remaining amount of the First Earn Out Maximum as
follows: if as of the Second Earn Out Date the average annual revenues of the
Company for the three (3) previous calendar years (i.e.  the calendar
years ending January 1, 2012, January 1, 2013 and January 1, 2014 and which are
hereinafter referred to as the “Second Earn Out Period”) is determined to be
(the “ Second Revenue Determination”) not less than Thirty Million Dollars
($30,000,000) (the “Second Revenue Milestone”) and the average EBITDA of the
Company for the Second Earn Out Period is determined to be (the “Second EBITDA
Determination”) not less than three (3) million dollars ($3,000,000) (the
“Second EBITDA Milestone”) then the Company shall  issue to the
Sellers in the same proportion as appears on Exhibit A, the remainder of the
First Earn Out Maximum. The Second Revenue Determination and the Second EBITDA
Determination shall be weighted equally and made within One Hundred and Twenty
(120) days following the end of the Second Earn Out period and shall be made
according to GAAP by an independent certified public accounting firm acceptable
to the Parties the cost of which shall be split equally between Purchaser and
Sellers.

     

    1.2.1(c)                  Adjustment
for Stock Splits, Stock Dividends, Recapitalizations, Etc.  The Number
of Shares issuable under this Section shall be appropriately adjusted to reflect
any stock dividend, stock split, and combination of shares, reclassification,
recapitalization or other similar event affecting the number of outstanding
shares of stock or securities.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    3.           Amendment to Article 8 of
the Agreement. Section 8.4 of the Agreement is deleted and restated in its
entirety as follows:

     

    “Purchaser shall have
delivered to Sellers the Common Stock constituting the Purchase Price, at
Closing.  .

     

    4.      Amendment
to Section 12.3 of the Agreement. The following is added to Section
12.3

     

    “EBITDA”
shall mean Earnings Before Interest Taxes Depreciation and Amortization in
accordance with GAAP.

     

    5.      Ratification and
Republication Except as amended by this Agreement, the parties do hereby
ratify and republish the Agreement.

     

    6.           Benefit.  All
the terms and provisions of this Agreement shall be binding upon and inure to
the benefit of and be enforceable by the parties hereto, and their respective
heirs, executors, administrators, personal representatives, successors and
permitted assigns.

     

    7.           Construction.  Words
of any gender used in this Agreement shall be held and construed to include any
other gender, and words in the singular number shall be held to include the
plural, and vice versa, unless the context requires otherwise.

     

    8.           Multiple
Counterparts.  This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

     

    9.           Entire
Agreement.  This Agreement and the Agreement contain the entire
understanding of the parties with respect to the subject matter hereof, and may
not be changed orally, but only by an instrument in writing signed by the party
against whom enforcement of any waiver, change, modification, extension, or
discharge is sought. In the event of any conflict between the terms of this
Amendment One and the Agreement, the terms of this Amendment One shall
control.

     

    IN
WITNESS WHEREOF, this Agreement has been executed in multiple counterparts on
the November 23, 2010.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    EGPI
      FIRECREEK, INC.

                                  	 
      	
                                    TERRA
      TELECOM, LLC

                                  
	 
      	 
      	 
      
	
                                    /s/Dennis
      R. Alexander

                                  	 
      	 
      
	 
      	 
      	 
      
	
                                    Dennis
      R. Alexander, Chief Executive Officer

                                  	 
      	
                                    Wade
      Clark, Chief Executive Officer

                                  
	 
      	 
      	 
      
	
                                    Effective
      December 6, 2010

                                  	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                    David
      Shepard, Chief Technical Officer

                                  
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                    Lora
      Crainshaw

                                  
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                    Daniel
      Eckermann

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 	 	 
	 	 	 
	 
      	 
      	
                                      Jerry
      McCart

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	
                                      Mark
      Morelli

                                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                                        

                                    	
                                      Richard
      Howard

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    Exhibit
A

    

    Schedule of
Buyers

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                       

                                    	 	  
      	 
      	

                                      Number
      of 

                                    	 
      
	
                                       

                                    	 	  
      	 	

                                      Shares
      of 

                                    	 
      
	
                                      Name

                                    	 	
                                      Address

                                    	 	
                                      Common
      Stock

                                    	 
	 
      	 	 
      	 	 	 
	
                                      Jerry
      McCart

                                    	 	
                                      215
      Gail Lane

                                    	 	 	5,800,000	 
	 
      	 	
                                      Sapulpa,
      OK  74066

                                    	 	 	 	 
	 
      	 	 
      	 	 	 	 
	
                                      Lora
      Crainshaw

                                    	 	
                                      3332
      NW 170th
      CT

                                    	 	 	3,800,000	 
	 
      	 	
                                      Edmond,
      OK  73003

                                    	 	 	 	 
	 
      	 	 
      	 	 	 	 
	
                                      Mark
      Morelli

                                    	 	
                                      11711
      South Fulton Ave

                                    	 	 	1,400,000	 
	 
      	 	
                                      Tulsa,
      OK  74137

                                    	 	 	 	 
	 
      	 	 
      	 	 	 	 
	
                                      Daniel
      Eckermann

                                    	 	
                                      20806
      Madison Cove

                                    	 	 	8,200,000	 
	 
      	 	
                                      Lago
      Vista, TX  78645

                                    	 	 	 	 
	 
      	 	 
      	 	 	 	 
	
                                      David
      Shepard

                                    	 	
                                      4510
      South 86th East Ave

                                    	 	 	5,000,000	 
	 
      	 	
                                      Tulsa,
      OK  74145

                                    	 	 	 	 
	 
      	 	 
      	 	 	 	 
	
                                      Wade
      Clark

                                    	 	
                                      4510
      South 86th East Ave

                                    	 	 	5,000,000	 
	 
      	 	
                                      Tulsa,
      OK  74145

                                    	 	 	 	 
	 
      	 	 
      	 	 	 	 
	
                                      Richard
      Howard

                                    	 	
                                      4906
      East 88th Place

                                    	 	 	800,000	 
	 
      	 	
                                      Tulsa,
      OK  74137

                                    	 	 	 	 

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    Exhibit
A1

     

     Reverse
stock split calculations / adjustments

     

    EGPI Firecreek, Inc. has filed Form DEF
14C to effect a 1 for 50 reverse stock split of its common stock which has not
been declared effective as of close of the Agreement, but which when declared
effective will be applied uniformly to shares to be issued under this Agreement
such that if the entire sixty million (60,00,000) shares were to be due to be
issued under the terms of this Agreement prior to the reverse split being
declared effective, would be reduced to one million two hundred thousand
(1,200,000) shares when, and if, the reverse is declared effective.

    

    The
effect of the reverse is listed below:

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Name

                            	 	
                              Dollar Amount

                              of Debt

                            	 	 	
                              Percentage

                              of Total

                              Debt

                            	 	 	
                              Number of Common 

                              Shares Issued

                               ($.001 Par Value)

                            	 	 	
                              Number of Common

                              Shares after 1:50

                              reverse split

                            	 
	
                              Jerry
      McCart

                            	 	$	998,320.00	 	 	 	29	%	 	 	11,600,000	 	 	 	232,000	 
	
                              Lora
      Crainshaw

                            	 	$	681,548.00	 	 	 	19	%	 	 	7,600,000	 	 	 	152,000	 
	
                              Mark
      Morelli

                            	 	$	250,000.00	 	 	 	7	%	 	 	2,800,000	 	 	 	56,000	 
	
                              Daniel
      Eckermann

                            	 	$	1,435,226.32	 	 	 	41	%	 	 	16,400,000	 	 	 	328,000	 
	
                              David
      Shepard

                            	 	$	-	 	 	 	0	%	 	 	10,000,000	 	 	 	200,000	 
	
                              Wade
      Clark

                            	 	$	-	 	 	 	0	%	 	 	10,000,000	 	 	 	200,000	 
	
                              Rich
      Howard

                            	 	$	137,676.96	 	 	 	4	%	 	 	1,600,000	 	 	 	32,000	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                              Total

                            	 	$	3,502,771.28	 	 	 	 	 	 	 	60,000,000	 	 	 	1,200,000	 

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        5Exhibit
A

     

    Schedule of
Buyers

    

    
      
        
          
            
              
                
                  
                    
                      
                        	 
      	 
      	 
      	 
      	
                                Number of

                              
	 
      	 
      	 
      	 
      	
                                Shares of

                              
	
                                Name

                              	 
      	
                                Address

                              	 
      	
                                Common Stock

                              
	 
      	 
      	 
      	 
      	 
      
	
                                Jerry
      McCart

                              	 
      	
                                215
      Gail Lane

                              	 
      	
                                5,800,000

                              
	 
      	 
      	
                                Sapulpa,
      OK  74066

                              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                Lora
      Crainshaw

                              	 
      	
                                3332
      NW 170th
      CT

                              	 
      	
                                3,800,000

                              
	 
      	 
      	
                                Edmond,
      OK  73003

                              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                Mark
      Morelli

                              	 
      	
                                11711
      South Fulton Ave

                              	 
      	
                                1,400,000

                              
	 
      	 
      	
                                Tulsa,
      OK  74137

                              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                Daniel
      Eckermann

                              	 
      	
                                20806
      Madison Cove

                              	 
      	
                                8,200,000

                              
	 
      	 
      	
                                Lago
      Vista, TX  78645

                              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                David
      Shepard

                              	 
      	
                                4510
      South 86th East Ave

                              	 
      	
                                5,000,000

                              
	 
      	 
      	
                                Tulsa,
      OK  74145

                              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                Wade
      Clark

                              	 
      	
                                4510
      South 86th East Ave

                              	 
      	
                                5,000,000

                              
	 
      	 
      	
                                Tulsa,
      OK  74145

                              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                Richard
      Howard

                              	 
      	
                                4906
      East 88th Place

                              	 
      	
                                800,000

                              
	 
      	
                                  

                              	
                                Tulsa,
      OK  74137

                              	
                                  

                              	 
      

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    Exhibit
A1

     

     Reverse
stock split calculations / adjustments

     

    EGPI Firecreek, Inc. has filed Form DEF
14C to effect a 1 for 50 reverse stock split of its common stock which has not
been declared effective as of close of the Agreement, but which when declared
effective will be applied uniformly to shares to be issued under this Agreement
such that if the entire sixty million (60,00,000) shares were to be due to be
issued under the terms of this Agreement prior to the reverse split being
declared effective, would be reduced to one million two hundred thousand
(1,200,000) shares when, and if, the reverse is declared effective.

    

    The
effect of the reverse is listed below:

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  	
                                          Name

                                        	 	
                                          Dollar Amount

                                          of Debt

                                        	 	 	
                                          Percentage of

                                          Total Debt

                                        	 	 	
                                          Number of Common

                                          Shares Issued

                                          ($0.01 Par Value)

                                        	 	 	
                                          Number of Common

                                          Shares after 1:50

                                          reverse split

                                        	 
	
                                          Jerry McCart  

                                        	 	$	998,320.00	 	 	 	29	%	 	 	11,600,000	 	 	 	232,000	 
	
                                          Lora Crainshaw  

                                        	 	$	681,548.00	 	 	 	19	%	 	 	7,600,000	 	 	 	152,000	 
	
                                          Mark Morelli  

                                        	 	$	250,000.00	 	 	 	7	%	 	 	2,800,000	 	 	 	56,000	 
	
                                          Daniel Eckermann  

                                        	 	$	1,435,226.32	 	 	 	41	%	 	 	16,400,000	 	 	 	328,000	 
	
                                          David Shepard  

                                        	 	$	-	 	 	 	0	%	 	 	10,000,000	 	 	 	200,000	 
	
                                          Wade Clark  

                                        	 	$	-	 	 	 	0	%	 	 	10,000,000	 	 	 	200,000	 
	
                                          Rich Howard  

                                        	 	$	137,676.96	 	 	 	4	%	 	 	1,600,000	 	 	 	32,000	 
	
                                             

                                        	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                          Total  

                                        	 	$	3,502,771.28	 	 	 	 	 	 	 	60,000,000	 	 	 	1,200,000	 

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
        
          
            
              
                
                  
                    
                       

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        2

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