Document:

Document

Exhibit 10.1

FIRST AMENDMENT
THE COCA-COLA COMPANY SEVERANCE PAY PLAN
(As Amended and Restated Effective January 1, 2020)

        This Amendment to The Coca-Cola Company Severance Pay Plan is hereby adopted by The Coca-Cola Company Benefits Committee (“Benefits Committee”), effective as of May 29, 2020.
1.The definition of Participant shall be amended to read as follows:
Participant means:
(a)a regular full-time or regular part-time (working at least 30 hours per week) employee of the Company or a Participating Affiliate who works primarily within the United States (one of the fifty states or the District of Columbia) and who is actively at work or on an Approved Leave of Absence, or
(b)a regular, full-time salaried Global Mobility Assignee who is actively at work or on an Approved Leave of Absence.
Notwithstanding the foregoing, the term “Participant” shall not include any employee of The Coca-Cola Company or an Affiliate who is performing services for Costa USA LLC and who ultimately reports up to the CEO, Costa in accordance with the personnel and organizational systems of the Company.  Furthermore, the term "Participant" shall not include any employee covered by a collective bargaining agreement between an employee representative and the Company or any Affiliate, unless the collective bargaining agreement provides for the employee’s participation in this Plan.  
An individual shall be treated as an "employee" for purposes of this Plan for any period only if (i) he is actually classified during such period by the Company (or to the extent applicable, any Affiliate) on its payroll, personnel and benefits system as an employee, and (ii) he is paid for services rendered during such period through the payroll system, as distinguished from the accounts payable department, of the Company or the Affiliate.  No other individual shall be treated as an employee under this Plan for any period, regardless of his or her status during such period as an employee under common law or under any statute.  In addition, an individual shall be treated as an exempt or nonexempt employee for purposes of this Plan only if he is actually classified during such period by the Company or an Affiliate on its payroll, personnel and benefits system as an exempt or nonexempt employee.

2.Appendix B is amended to add Grand Prairie Plant (TX) to the Thermal (Hot-fill/Juice/Water) Plants list.

3.Appendix B is further amended to add the following:

Other facilities
Odwalla Chilled Distribution Centers

IN WITNESS WHEREOF, the Benefits Committee has caused this Amendment to be adopted and signed by its duly authorized member on May 29, 2020.

            THE COCA-COLA COMPANY
            BENEFITS COMMITTEE

            BY:   /s/ Silvina Kippke    
             Silvina KippkeExhibit 10.1

 

SHARES
ISSUANCE AGREEMENT

 

This 
SHARES ISSUANCE AGREEMENT (this “Agreement”), dated as of July 17, 2020 (the “Effective
Date”), is by and among LiveXLive Media, Inc., a Delaware corporation (the “Company”) and Slacker,
Inc. (“Slacker”), on the one hand, and UMG Recordings, Inc. (“Recipient”), on the other hand.

 

RECITALS

 

A.       Recipient
is entitled to certain payments as of June 30, 2020 (the “Fee”) from Slacker, Inc., the Company’s wholly
owned subsidiary, due under the Agreement for the Inclusion of Universal Sound Recordings In Online Interactive Radio Services,
dated as of March 13, 2007, as amended (the “Subject Agreement”), entered into between Recipient and Slacker,
as more fully set forth in Amendment No. 23 to the Subject Agreement to be entered into by Recipient and Slacker on the Effective
Date (the “Amendment”).

 

B.       The
Company, Slacker and Recipient desire to enter into this Agreement in order to arrange for compensation of Recipient for the past-due
Fee, which compensation, includes without limitation, the issuance by Company to Recipient of 2,415,459 shares (the “Shares”)
of the Company’s common stock, $0.001 par value per share (the “Common Stock”), in satisfaction and payment
of $10,000,000.00 of the Fee, subject to the terms of this Agreement.

 

C.       The
Share Issuance (as defined below) shall be made pursuant to the Company’s currently effective shelf Registration Statement
on Form S-3, which includes the Common Stock registered thereunder (Registration No. 333-228909) (the “Registration Statement”),
which Registration Statement has been declared effective in accordance with the Securities Act of 1933, as amended (the “1933
Act”), by the U.S. Securities and Exchange Commission (the “SEC”).

 

NOW,
THEREFORE, in consideration of the recitals above incorporated herein by this reference and the mutual covenants contained herein
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Recipient
hereby agree as follows:

 

1.
     In Satisfaction of Fee. In satisfaction of the Fee, Recipient agrees to accept (a)
the issuances of the Share Issuance as provided in Section 2 below and (b) the payments provided in the Amendment. The receipt
by Recipient of the compensation described in (a) and (b) is a condition precedent to the effectiveness of the Amendment, and
any failure by the Company or Slacker to provide such compensation as provided herein, in whole or in part, shall render this
Agreement and the Amendment null and void.

 

2.       Issuance
of Shares. 

 

(a)      Subject
to the terms of Section 2(b) below, the Company shall effectuate the issuance of the Shares by providing the TA Instructions as
set forth in Section 4 below (the “Share Issuance”). The closing (the “Closing”) of the
offer and purchase of the Shares by Recipient shall occur virtually at the offices of Foley Shechter Ablovatskiy LLP, the Company’s
outside corporate and securities counsel by no later than two (2) business days after Effective Date. As used herein “Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized
or required by law to remain closed. The parties agree that the conditions to closing (the “Closing”) are (i)
delivery by each party to the other party of this agreement and the Amendment, duly executed by such first party (and Slacker,
with respect to the Company), and (ii) confirmation by the Transfer Agent (as defined below) that the Shares have been issued
to Recipient as provided in Section 4 of this Agreement (collectively, the “Closing Conditions”). The date
on which the Closing occurs shall be referred to herein as the “Closing Date”.

 

    1

     

    

 

2.
     Recipient’s Representations and Warranties. Recipient represents and warrants
to the Company that, as of the date hereof and as of the date of the Closing:

 

(a)    (i)
the execution and delivery of this Agreement and Amendment by Recipient, and the consummation by Recipient of the transactions
contemplated hereby and thereby, have been duly and validly authorized, executed and delivered on behalf of Recipient and shall
constitute the legal, valid and binding obligations of Recipient enforceable against Recipient in accordance with its respective
terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’
rights and remedies, and (ii) the person executing this Agreement and the Amendment on its behalf has the authority to do so.

 

(b)    Recipient
acknowledges and represents that: (a) it has read the Agreement; (b) it clearly understands the Agreement and each of its terms;
(c) it fully and unconditionally consent to the terms of this Agreement; (d) it had the benefit and advice of counsel of its own
selection; (e) it has executed this Agreement, freely, with knowledge, and without influence or duress; (f) it has not relied
upon any other representations, either written or oral, express or implied, made to them by any person; and (g) the consideration
received by it has been actual and adequate.

 

3.
     Representations and Warranties of the Company. The Company represents and warrants
to Recipient that, as of the date hereof and as of the date of the Closing:

  

(a)
    The Company is duly incorporated, validly existing and in good standing under the laws
of the jurisdiction of its incorporation, with the requisite power and authority to own and use its properties and assets and
to carry on its business as currently conducted. The Company is not in violation or default of any of the provisions of its articles
of incorporation, bylaws or other organizational or charter documents. The Company is duly qualified to conduct business and is
in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or
property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the
case may be, could not reasonably be expected to result in (i) a material adverse effect on the legality, validity or enforceability
of this Agreement, (ii) a material adverse effect on the results of operations, assets, business or financial condition of the
Company, or (iii) a material adverse effect on the Company’s ability to enter into or perform in any material respect its
obligations under this Agreement, including, without limitation, the ability of the Company to issue the Shares as provided herein.
The Company is not a party to any legal or regulatory proceeding and no such proceeding has been instituted in any such jurisdiction
which, in either case, revokes, limits or curtails or seeks to revoke, limit or curtail, such power and authority or qualification.

 

(b)
   The Company has the requisite power and authority to enter into and perform its obligations
under this Agreement and make the Share Issuance in accordance with the terms hereof and thereof. The execution and delivery of
this Agreement by the Company, and the consummation by the Company of the transactions contemplated hereby have been duly authorized
by the Company’s board of directors and (other than (x) the filing with the SEC of the prospectus supplement related to
the Shares required by Rule 424(b) under the 1933 Act (the “Prospectus Supplement”) supplementing the base
prospectus forming part of the Registration Statement (such base prospectus as so supplemented, the “Prospectus”)
and (y) any other filings as may be required by any state or federal securities agencies (collectively, the “Required
Filings”)) no further filing, consent or authorization is required by the Company, its subsidiaries, their respective
boards of directors or their stockholders or other governing body. This Agreement has been duly executed and delivered by the
Company, and when duly executed by Recipient, shall constitute the legal, valid and binding obligations of the Company, enforceable
against the Company in accordance with its respective terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally, the enforcement of applicable creditors’ rights and remedies and except as rights to indemnification and to contribution
may be limited by federal or state securities law.

 

    2

     

    

 

(c)    The
Shares are duly authorized and shall be validly issued, fully paid and non-assessable and free from all preemptive or similar
rights, mortgages, defects, claims, liens, pledges, charges, taxes, rights of first refusal, encumbrances, security interests
and other encumbrances (collectively “Liens”) with respect to the issuance thereof. The Shares shall be registered
under the 1933 Act, and the Shares shall be issued pursuant to the Registration Statement, Prospectus Supplement and Prospectus
and as such shall be freely transferable and freely tradable by Recipient without restriction, whether by way of registration
or some exemption therefrom. The Registration Statement is effective and available for the issuance of the Common Stock thereunder
and the Company has not received any notice that the SEC, or any trading market on which the Common Stok is or has been listed,
has issued or intends to issue a stop-order with respect to the Registration Statement or that the SEC, or any trading market
on which the Common Stock is or has been listed, otherwise has suspended or withdrawn the effectiveness of the Registration Statement,
either temporarily or permanently, or intends or has threatened in writing to do so. The Company has not taken any action which
is designed to or likely to have the effect to terminate the Registration Statement under the 1933 Act. There has not been, and,
to the knowledge of the Company, there is not pending or contemplated, any investigation by the SEC involving the Company or any
current or former director or officer of the Company. The Registration Statement and any prospectus included therein, including
the Prospectus, and all other reports, schedules, forms, statements and other documents required to be filed by the Company since
April 1, 2018 pursuant to the 1934 Act and the Registration Statement and the Prospectus, collectively the “SEC Reports”),
complied in all material respects with the requirements of the 1933 Act, and the documents incorporated by reference into the
Registration Statement when filed, complied in all material respects with the requirements of the 1934 Act and, in each case,
with the rules and regulations of the SEC promulgated under the 1933 Act or the 1934 Act, as the case may be. At the time the
Registration Statement and any amendments thereto became effective the Registration Statement and any amendments thereto complied
with and, upon the filing of the Prospectus Supplement after the date of this Agreement the Registration Statement, will comply
in all material respects with the requirements of the 1933 Act and will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. The
Prospectus and any amendments or supplements thereto, at the time the Prospectus or any amendment or supplement thereto was issued
and the Prospectus Supplement at the Closing Date, complied and will comply, as the case may be, in all material respects with
the requirements of the 1933 Act. Since April 1, 2018, the Company has filed the SEC Reports on a timely basis or file an appropriate
extension of such time of filing and filed any such SEC Reports prior to the expiration of any such extension. The SEC Reports
did not, and will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to
make the statements therein, in light of the circumstances under which they were made, not misleading. The financial statements
of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules
and regulations of the SEC with respect thereto as in effect at the time of filing. Such financial statements have been prepared
in accordance with United States generally accepted accounting principles applied on a consistent basis during the periods involved
(“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited
financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial
position of the Company and its consolidated subsidiaries as of and for the dates thereof and the results of operations and cash
flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.
The SEC has not notified the Company of any objection to the use of the form of the Registration Statement pursuant to Rule 401(g)(1)
under the 1933 Act. The Registration Statement meets the requirements set forth in Rule 415(a)(1)(x) under the 1933 Act.

  

(c)    The
Company acknowledges and represents that: (a) it has read the Agreement; (b) it clearly understands the Agreement and each of
its terms; (c) it fully and unconditionally consent to the terms of this Agreement; (d) it had the benefit and advice of counsel
of its own selection; (e) it has executed this Agreement, freely, with knowledge, and without influence or duress; (f) it has
not relied upon any other representations, either written or oral, express or implied, made to them by any person; and (g) the
consideration received by it has been actual and adequate.

 

    3

     

    

  

4.
     Transfer Agent Instructions; No Legend. Upon the full execution of this Agreement
and the Amendment by the Company, Slacker and UMG, the Company shall promptly, but in any event, within one (1) business day,
provide its irrevocable instructions to VStock Transfer, LLC, its transfer agent (the “Transfer Agent”), in
a form acceptable to Recipient (the “TA Instructions”) to issue shares in book-entry form or credit shares
to the applicable balance accounts at DTC, registered in the name of Recipient or its respective nominee(s), as requested by Recipient,
for the Shares in such amounts as specified by Recipient to the Company. The Company represents and warrants that no instruction
other than the TA Instructions referred to in this Section will be given by the Company to its transfer agent with respect to
the Shares, and that the Shares shall otherwise be freely transferable on the books and records of the Company, as applicable,
to the extent provided in this Agreement. The Company shall cause its counsel to issue the legal opinion referred to in the TA
Instructions to the Transfer Agent in connection with the issuance of the Shares to Recipient pursuant to the Registration Statement
as provided herein. Any fees with respect to the transfer agent or counsel to the Company associated with such issuance shall
be borne by the Company. Certificates and any other instruments evidencing the Shares shall not bear any restrictive or other
legend.

 

5.     Termination
for Breach. Notwithstanding any conflicting provisions in the Subject Agreement, Recipient shall be entitled to terminate
immediately the Subject Agreement, without prior notice to Slacker, in the event that Slacker fails to make timely any future
payments (as described in this Agreement or the Amendment).

 

6.       Miscellaneous.

 

(a)    Governing
Law; Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
shall be governed by the internal laws of the State of California, without giving effect to any choice of law or conflict of law
provision or rule (whether of the State of California or any other jurisdictions) that would cause the application of the laws
of any jurisdictions other than the State of California. The Company and Slacker hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the City of Los Angeles, California, for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by providing copy thereof to such party at the address for such notices to it under this Agreement via personal
courier or overnight courier service and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted
by law. Nothing contained herein shall be deemed or operate to preclude any party hereto from bringing suit or taking other legal
action against the other party in any other jurisdiction to enforce a judgment or other court ruling in favor of such first party. 

 

    4

     

    

 

(b)    Attorneys’
Fees and Costs. Each of the parties will bear their own costs and expenses, including but not limited to any costs, forum
fees or attorneys’ fees incurred in connection with the negotiation and execution of this Agreement, the Amendment and any
other ancillary agreements and documents.

 

(c)    Headings;
Gender. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation
of, this Agreement. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine,
feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,” “include”
and words of like import shall be construed broadly as if followed by the words “without limitation.” The terms “herein,”
“hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision
in which they are found. 

 

(d)    Severability. If
any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s). 

 

(e)    Entire
Agreement; Amendments; Effectiveness. This Agreement supersedes all other prior oral or written agreements between the
parties and contains the entire understanding of the parties solely with respect to the matters covered herein, other than the
Subject Agreement. For clarification purposes, the Recitals are part of this Agreement, and the Subject Agreement and the Amendment
remain in full force and effect after the Closing Date. No provision of this Agreement may be amended or waived other than by
an instrument in writing signed by the Company and Recipient. This Agreement shall become effective and binding upon the
parties hereto as of the Effective Date upon the satisfaction of all of the Closing Conditions.

 

(f)      Notices. Any
notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be
in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by electronic mail; or (iii) one (1) Business Day after deposit with an overnight courier service with next day delivery specified,
in each case, properly addressed to the party to receive the same. The addresses and e-mail addresses for such communications
shall be: 

 

	If
        to the Company:

        LiveXLive
        Media, Inc.

        9200 Sunset Boulevard, Suite #1201, West Hollywood, CA 90069

        Attention: CEO

        Email: rob@livexlive.com and tenia@livexlive.com

         

        with
        a copy (which shall not constitute notice) to:

        Foley
        Shechter Ablovatskiy LLP

        1359
        Broadway, 20th Floor, Suite 2001

        New
        York, NY 10018

        Attention:
        Sasha Ablovatskiy, Esq.

        Email:
sablovatskiy@foleyshechter.com 
	If
        to Recipient:

        UMG
        Recordings, Inc.

        2220
        Colorado Ave, Santa Monica, CA 90404Attention: Global Head of Business Affairs, Digital

         

 

    5

     

    

 

or
to such other address, e-mail address and/or facsimile number and/or to the attention of such other person as the recipient party
has specified by written notice given to each other party five (5) days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent, waiver or other communication or (B) provided by an overnight courier
service shall be rebuttable evidence of personal service or receipt from an overnight courier service in accordance with clause
(i), (ii) or (iii) above, respectively.

 

 (g)  Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors
and assigns, including any purchasers of any of the Shares. Neither party shall assign this Agreement or any rights or obligations
hereunder without the prior written consent of the other party.

 

(h)    No
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person, other than
the indemnitees referred to above. 

 

(i)     Survival.
The representations, warranties, agreements and covenants shall survive the Closing.

 

(j)     Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby. 

 

(k)    Construction.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and
no rules of strict construction will be applied against any party. No specific representation or warranty shall limit the generality
or applicability of a more general representation or warranty. Each and every reference to share prices, shares of Common Stock
and any other numbers in this Agreement that relate to the Common Stock shall be automatically adjusted for any stock splits,
stock dividends, stock combinations, recapitalizations or other similar transactions that occur with respect to the Common Stock
after the date of this Agreement. This Agreement shall be construed without regard to any presumptions against the Party
causing the same to be prepared.

 

(l)     Remedies.
Any person having any rights under any provision of this Agreement shall be entitled to enforce such rights specifically (without
posting a bond or other security), to recover damages by reason of any breach of any provision of this Agreement and to exercise
all other rights granted by law. The parties each agree that money damages may not be a sufficient remedy for any breach of this
Agreement by the other and that in addition to all other remedies, each party shall be entitled to seek specific performance and
injunctive or other equitable relief as a remedy for any such breach.

 

    6

     

    

 

(m)    Confidentiality.
Except as may be required by applicable law, neither of the parties hereto shall make any disclosure concerning this Agreement
or the terms hereof except to its employees and representatives as may be necessary or advisable, including but not limited to
legal counsel, accountants or other advisors without prior approval by the other party; provided, however, that nothing in this
Agreement shall restrict the Company from making any disclosures that may be required by the federal securities laws including
(without limitation) appropriate disclosures if so required by applicable items of the Form 8-K, the 1933 Act or Regulation FD,
as such disclosure may be incorporated into Forms 8-K, 10-Q and 10-K. Notwithstanding the foregoing, upon any disclosure concerning
this Agreement made in accordance with the federal securities laws, the restrictions contained in this paragraph shall terminate
as of the date of such disclosure and be of no further force and effect.

 

(n)     Counterparts. This
Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any
signature is delivered by an e-mail which contains a portable document format (.pdf) file of an executed signature page, such
signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed)
with the same force and effect as if such signature page were an original thereof. 

 

[Signature
page follows]

 

    7

     

    

 

IN
WITNESS WHEREOF, Recipient and the Company have caused their respective signature page to this Agreement to be duly executed
as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	LIVEXLIVE MEDIA, INC.
	 	 	  

	 	By:	/s/
Michael Zemetra
	 	Name:	Michael Zemetra
	 	Title:	CFO

  

	 	UMG RECORDINGS, INC.
	 	 
	
	 	By:	/s/
Jeffrey S. Harleston
	 	Name:	Jeffrey S. Harleston
	 	Title:	General
Counsel and Executive Vice President

Agreed
to and acknowledged this

17th
day of July 2020:

 

	SLACKER,
INC. 
	 
	 	 
	By:	/s/
    Michael Zemetra	 
	Name:	Michael Zemetra	 
	Title:	CFO	 

 

 

8

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