Document:

ex10-29

 

EXHIBIT 10.29

FIRST AMENDMENT TO SUBSCRIPTION AGREEMENT

     This First Amendment to Subscription Agreement is entered into as of this
12th day of February, 2002, by and between uDate.com, Inc., a Delaware
corporation and the successor corporation of Anthem Recording West, Inc., a
California corporation (the “Company”), and Innovative Finance Limited
(“Innovative Finance”).

WITNESSETH

     WHEREAS, the parties hereto entered into a Subscription Agreement dated
May 23, 2000 (the “Original Subscription Agreement”);

     WHEREAS, among other things, the Original Subscription Agreement provided
for Innovative Finance to acquire the Warrants (as such term is defined in the
Original Subscription Agreement);

     WHEREAS, prior to the date hereof, Innovative Finance has not exercised
the Warrants or sold, transferred or otherwise disposed of the Warrants;

     WHEREAS, Section 2.1 of the Original Subscription Agreement provides,
“Each whole Warrant will entitle the Purchaser to subscribe for one additional
common share of the Company at a price of U.S. $7.50 per share at any time up
to 5:00 p.m. local time in Vancouver, B.C. on the first anniversary of the
Closing Date, and thereafter at a price of U.S. $10.00 per share at any time up
to 5:00 p.m. local time on the second anniversary of the Closing Date.” and
Section 4.1 of the Original Subscription Agreement defines “Closing Date” as
May 23, 2000;

     WHEREAS, the closing bid price of the Company’s common stock (the “Company
Common Stock”) on the Over the Counter Bulletin Board on February 11, 2002 was
$3.50 per share; and

     WHEREAS, the Company and Innovative Finance desire to amend the Original
Subscription Agreement to provide for the termination, upon the occurrence of
certain mergers involving the Company, of the Warrants and Innovative Finance’s
right to acquire securities of the Company upon exercise of the Warrants.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto, intending to be legally bound, hereby agree
as follows:

     1.     Termination of the Warrants; Release.

              (a)      Each of the Company and Innovative Finance agrees that the Original
Subscription Agreement is hereby amended to provide that (i) the Warrants shall
terminate on the earlier to occur of (x) 5:00 p.m. local time on May 23, 2002
and (y) immediately prior to the effective time of a merger involving the
Company pursuant to which each outstanding share of Company Common Stock shall
be converted into the right to receive cash or other consideration

 

 

with a value equal to or less than U.S. $10.00, and (ii) effective as of the
time of termination provided for in clause (i) of this sentence, any and all
interests in and rights to the Warrants under the Original Subscription
Agreement held by Innovative Finance shall be terminated and waived, including
without limitation Innovative Finance’s right to acquire securities of the
Company upon exercise of the Warrants. To the extent the Warrant is then
outstanding, Innovative Finance hereby further agrees to exercise the Warrant
in full prior to the effective time of a merger involving the Company pursuant
to which each outstanding share of Company Common Stock shall be converted into
the right to receive cash or other consideration with a value greater than U.S.
$10.00

             (b)      Innovative Finance hereby releases and forever discharges (i) the
Company and its affiliates, subsidiaries and predecessors, (ii) the officers,
directors, stockholders, affiliates, agents and employees of each person or
entity named in clause (i), and (iii) the executors, heirs, successors and
assigns of each person or entity named in clauses (i) and (ii) (all the persons
and entities named in clauses (i), (ii) and (iii), the “Released Parties”),
from any and all claims of every kind and nature, whether known or unknown,
that Innovative Finance now has, ever had or might in the future have against
the Released Parties arising out of or related to the Warrants or this First
Amendment to Subscription Agreement.

     2.     Amendment Only. As amended hereby, the Original Subscription Agreement
is hereby confirmed to be in full force and effect.

     3.     Confidentiality. The Company and Innovative Finance acknowledge that,
in connection with the execution of this First Amendment to Subscription
Agreement, Innovative Finance has received certain confidential information
concerning the Company and its plans and goals for future operations.
Innovative Finance hereby agrees that such information will be kept
confidential and that Innovative Finance and its directors, officers,
employees, agents or advisors will not disclose any of such information in any
manner whatsoever.

     4.     Ownership of the Warrants. Innovative Finance represents and warrants
to the Company that Innovative Finance has not exercised the Warrants or sold,
transferred or otherwise disposed of the Warrants.

     5.     Counterparts. This First Amendment to Subscription Agreement may be
executed in counterparts, and each counterpart shall have the same force and
effect as an original and shall constitute an effective, binding agreement on
the part of each of the undersigned.

     6.     Entire Agreement; Amendment. This First Amendment to Subscription
Agreement constitutes the entire agreement of the parties hereto pertaining to
the subject matter hereof. This First Amendment to Subscription Agreement
shall not be amended, modified or supplemented except by a written instrument
signed by an authorized representative of each of the parties hereto.

     7.     Governing Law; Consent to Jurisdiction. This First Amendment to
Subscription Agreement shall be governed by and construed in accordance with
the internal laws of the State of Delaware without giving effect to any choice
or conflict of law provision or rule (whether of

 

 

the State of Delaware or any other jurisdiction) that would cause the
application of laws of any jurisdictions other than those of the State of
Delaware. Each of the parties to this First Amendment to Subscription
Agreement (i) consents to submit itself to the personal jurisdiction of any
state or federal court sitting in the State of Delaware in any action or
proceeding arising out of or relating to this First Amendment to Subscription
Agreement, (ii) agrees that all claims in respect of such action or proceeding
may be heard and determined in any such court, (iii) agrees that it shall not
attempt to deny or defeat such personal jurisdiction by motion or other request
for leave from any such court, and (iv) agrees not to bring any action or
proceeding arising out of or relating to this First Amendment to Subscription
Agreement in any other court. Each of the parties hereto waives any defense of
inconvenient forum to the maintenance of any action or proceeding so brought
and waives any bond, surety or other security that might be required of the
other party with respect thereto.

 

 

     IN WITNESS WHEREOF, the parties have duly executed this First Amendment to
Subscription Agreement as of the date first above written.

	 
	UDATE.COM, INC
	 
	By: /s/ Mel Morris

Name: Mel Morris

Title: CEO
	 
	INNOVATIVE FINANCE LIMITED
	 
	By: /s/ M.P. Reagan

Name: M.P. Reagan

Title: Directorex10-30

 

EXHIBIT 10.30

I N T E R R E G N U M

	 	 	 
	To:	 	
The Directors
	 	 	
uDate.com Inc
	 	 	
575 Lexington Avenue
	 	 	
4th Floor
	 	 	
New York
	 	 	
NY 10022

1ST February 2002

Dear Sirs:

SHAREHOLDING IN UDATE.COM INC

In relation to the stock option agreement filed on August 2000 and made between
Interregnum PLC and the Company (“the Option Agreement”) we confirm that the
Option Agreement was filed in error and that we have no rights pursuant to it,
and any rights that we may have had are now terminated.

Save for the Shares, we confirm that Interregnum PLC nor any of its directors
or officers have any other shares in the Company or any other rights over the
issued or unissued share capital of the Company including rights by way of
mortgage, charge, pledge, lien, assignment by way of security, option
restriction, claim, right of pre-emption, right of first refusal or any other
encumbrance or security interest of any type or other preferential arrangement
having similar effect.

It is our intention to execute this letter as a deed.

	 	 	 	 
	SIGNED	 	)	 
	by INTERREGNUM PLC	 	)	 
	and the company secretary	 	)	 

	 	 	 
	 	Director	 
	 	 	 
	 	/s/ [illegible]	 
	 	 	 
	 	Director/Secretary	 
	 	 	 
	 	/s/ [illegible]ex10-31

 

EXHIBIT 10.31

	 	 	 
	To:	 	
The Directors
	 	 	
uDate.com Inc
	 	 	
575 Lexington Avenue
	 	 	
4th Floor
	 	 	
New York
	 	 	
NY 10022

Dear Sirs:

SHAREHOLDING IN UDATE.COM INC

I confirm that I am not the registered owner of any shares in the issued share
capital of uDate.com Inc (the “Company”).

In relation to the stock option agreement filed in August 2000 and made between
me and the Company (“the Option Agreement”) I confirm that the Option Agreement
was filed in error and that I have no rights pursuant to it and any rights that
I may have had are now terminated.

I further confirm that I have no shares in the Company and that I have no other
rights over the issued or unissued share capital of the Company including
rights by way of mortgage, charge, pledge, lien, assignment by way of security,
option restriction, claim, right of pre-emption, right of first refusal or any
other encumbrance or security interest of any type or other preferential
arrangement having similar effect.

It is my intention to execute this letter as a deed.

	 	 	 	 	 	 	 
	SIGNED AS A DEED	 	 	
	)	 	 
	by GODFREY SHINGLES	 	 	 	)	 	/s/ G.S. Shingles
	in the presence of:	 	 	
	)	 	 
	 	 	 	 	 	 	 
	Witness signature:	 	 	 	 	 	 

	 	 	 	 	 	 	 
	Name:	 	Kay Martin	 	 	 	 
	 	 	 	 	 	 	 
	Address:	 	
1 CRAVEN CLOSE KINTBURY	 	 	 	 
	 	 	 	 	 	 	 
	 	 	NR HUNGERFORD BERKSHIRE RG17 9XF	 	 	 
	 	 	 	 	 	 	 
	Occupation:	 	
Housewife

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