Document:

Unassociated Document

Exhibit 4.18

 

SUBSCRIPTION AGENT AGREEMENT

THIS SUBSCRIPTION AGENT AGREEMENT ("Agreement") between Icahn Enterprises L.P., a Delaware limited partnership (the "Company"), and Registrar and Transfer Company, a New Jersey corporation (the "Agent"), is dated as of November 30, 2011.

	
  

	
1.

	
Appointment.

	
  

	
a.

	
The Company is distributing at no charge (the "Rights Offering") to its unitholders of record at the close of business on or about December 19, 2011 (the "Record Date"), transferable subscription rights (the "Rights") to purchase up to an aggregate of approximately 15 million depositary units representing limited partner interests (the "Depositary Units"). Each unitholder will receive a fraction of a Right to be determined prior to the Record Date for each Depositary Unit owned. Each whole Right will entitle the unitholder to purchase one (1) Depositary Unit at a purchase price per Depositary Unit to be determined prior to the Record Date (the "Subscription Price"). The term "Subscribed" shall mean submitted for purchase from the Company by a unitholder in accordance with the terms of the Rights Offering, and the term "Subscription" shall mean any such submission.

	
  

	
b.

	
The Rights Offering will expire on or about January 9, 2012 at 5:00 p.m. Eastern Daylight Savings Time (it being understood that the Rights Offering will be open for between 16 and 30 days) (the "Expiration Time"), unless the Company shall have extended the period of time for which the Rights Offering is open, in which event the term "Expiration Time" shall mean the latest time and date at which the Rights Offering, as so extended by the Company from time to time, shall expire.

	
  

	
c.

	
The Company expects to file a Registration Statement on Form S-3 (File No. 333-158705) relating to the Rights Offering with the Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended, on or about December 1, 2011 (the "Registration Statement"). The terms of the Rights Offering will be more fully described in the Prospectus (the "Prospectus") forming part of the Registration Statement as such Registration Statement may be declared effective by the SEC. All terms used and not defined herein shall have the same meaning as in the Prospectus. Promptly after the Record Date, the Agent, in its capacity as transfer agent, will generate a list of holders of Depositary Units as of the Record Date (the "Record Unitholders List").

	
  

	
d.

	
The Company hereby appoints the Agent to act as subscription agent and information agent (the "Agent") for the Rights Offering in accordance with and subject to the following terms and conditions.

  

 

  

 

	
  

	
2.

	
Subscription of Rights.

	
  

	
a.

	
The Rights are evidenced by subscription rights certificates (the "Certificates"). The Certificates entitle the holders to subscribe, upon payment of the Subscription Price, for Depositary Units at a rate per Right to be determined prior to the Record Date evidenced by a Certificate (the "Basic Subscription Right"). No fractional Depositary Units will be issued. In the event that the number of Rights submitted by a holder are exercisable for a number of Depositary Units that is not a whole number, the number of Depositary Units issuable to such holder will be rounded up to the nearest whole Depositary Unit.

	
  

	
b.

	
The Rights Offering includes an over-subscription right entitling holders that fully exercise their Basic Subscription Right, to subscribe and pay the Subscription Price for Depositary Units that are not subscribed for under the Basic Subscription Rights by other holders of Rights (the "Over-Subscription Right"). Reference is made to the Prospectus for a complete description of the Basic Subscription Right and the Over-Subscription Right and the proration thereof.

 

	
  

	
3.

	
Duties of Agent. As Agent, the Agent is authorized and directed to perform the following:

	
  

	
a.

	
Issue the Certificates in accordance with this Agreement in the names of the holders of the Depositary Units of record or other nominees on the Record Date, keep such records as are necessary for the purpose of recording such issuance, and furnish a copy of such records to the Company. The Certificates may be signed on behalf of the Agent by the manual or facsimile signature of a Vice President or Assistant Vice President of the Agent, or by the manual signature of any of its other authorized officers.

	
  

	
b.

	
Promptly after the Agent receives the Record Unitholders List, the Agent shall

	
  

	
i.

	
mail or cause to be mailed, by first class mail, or deliver (which delivery may be done electronically through the facilities of the Depository Trust Company ("DTC") or otherwise) to each holder of Depositary Units of record on the Record Date whose address of record is within the United States, (i) a Certificate evidencing the Rights to which such unitholder is entitled under the Rights Offering, (ii) a copy of the Prospectus, and (iii) a return envelope addressed to the Agent; and

	
  

	
ii.

	
mail or cause to be mailed, to each holder of Depositary Units of record on the Record Date whose address of record is outside the United States, or is an A.P.O. or F.P.O. address, a copy of the Prospectus. The Agent shall refrain from mailing Certificates issuable to any holder of Depositary Units of record on the Record Date whose address of record is outside the United States, or is an A.P.O. or F.P.O. address, and hold such Certificates for the account of such unitholder subject to such unitholder making satisfactory arrangements with the Agent for the exercise of the Rights evidenced thereby, and follow the instructions of such unitholder for the exercise of such Rights if such instructions are received at or before 11:00 a.m., Eastern Daylight Savings Time, at least three business days prior to the Expiration Time.

  

 

  

 

	
  

	
c.

	
Accept Subscriptions upon the due exercise (including payment of the Subscription Price) on or prior to the Expiration Time of Rights in accordance with the terms of the Certificates and the Prospectus.

	
  

	
d.

	
Subject to the next sentence, accept Subscriptions from unitholders whose Certificates are alleged to have been lost, stolen, or destroyed upon receipt by the Agent of an affidavit of theft, loss, or destruction and a bond of indemnity in form and substance reasonably satisfactory to the Agent, accompanied by payment of the Subscription Price for the total number of Rights Subscribed. Upon receipt of such affidavit and bond of indemnity and compliance with any other applicable requirements, stop orders shall be placed on said Certificates and the Agent shall withhold delivery of the Rights Subscribed for until after the Certificates have expired and it has been determined that the Rights evidenced by the Certificates have not otherwise been purported to have been exercised or otherwise surrendered.

	
  

	
e.

	
Accept Subscriptions, without further authorization or direction from the Company, without procuring supporting legal papers or other proof of authority to sign (including without limitation proof of appointment of a fiduciary or other person acting in a representative capacity), and without signatures of co-fiduciaries, co-representatives, or any other person:

	
  

	
i.

	
if the Certificate is registered in the name of a fiduciary and is executed by, and the Depositary Units is to be issued in the name of, such fiduciary;

	
  

	
ii.

	
if the Certificate is registered in the name of joint tenants and is executed by one of the joint tenants, provided the Depositary Units is to be issued in the names of, and is to be delivered to, such joint tenants;

	
  

	
iii.

	
if the Certificate is registered in the name of a corporation and is executed by a person in a manner which appears or purports to be done in the capacity of an officer, or agent thereof, provided the Depositary Units is to be issued in the name of such corporation; or

	
  

	
iv.

	
if the Certificate is registered in the name of an individual and is executed by a person purporting to act as such individual's executor, administrator, or personal representative, provided, the Depositary Units is to be registered in the name of the subscriber as executor or administrator of the estate of the deceased registered holder and there is no evidence indicating the subscriber is not the duly authorized representative that he purports to be.

 

  

 

  

 

	
  

	
f.

	
Refer to the Company, for specific instructions as to acceptance or rejection, Subscriptions received after the Expiration Time, Subscriptions not authorized to be accepted, and Subscriptions otherwise failing to comply with the requirements of the Prospectus and the terms and conditions of the Certificates.

	
  

	
4.

	
Acceptance of Subscriptions. Upon acceptance of a Subscription, the Agent shall from time to time during the offering:

	
  

	
a.

	
Hold all monies received in a dedicated, non-interest bearing account for the benefit of the Company. Promptly following the Expiration Time, the Agent shall distribute to the Company the funds from exercise of the Basic Subscription Rights and Over-Subscription Rights in such account and following the Expiration Date issue (in physical form or electronically through the facilities of DTC, in each case in a manner approved by the Company) certificates for Depositary Units issuable with respect to Subscriptions that have been accepted. The Agent will not be obligated to calculate or pay interest to any holder or any other party claiming through a holder or otherwise. In the event that the Rights Offering is not consummated because the Company has withdrawn, cancelled or terminated the Rights Offering, the Agent shall liquidate the segregated account in which the subscription monies were held as promptly as practicable and distribute the funds to each respective subscribing unitholder who elected to exercise its Rights.

	
  

	
b.

	
Advise the Company weekly by email transmission to [    ] and confirm by letter to the attention of Jesse Lynn (the "Company Representative") as to the total number of Depositary Units Subscribed for and the amount of funds received, with cumulative totals for each; and in addition advise the Company Representative, by telephone at [       ], confirmed by facsimile transmission [       ], of the amount of funds received identified in accordance with (a) above, deposited, available, or transferred in accordance with (a) above, with cumulative totals; and

	
  

	
c.

	
As promptly as possible but in any event on or before 3:30p.m., Eastern Daylight Savings Time, on the first full business day following the Expiration Time, advise the Company Representative in accordance with (b) above of the estimated number of Depositary Units Subscribed and the estimated number of Depositary Units unsubscribed (with final numbers to follow 3 business days following the Expiration Time).

 

	
  

	
5.

	
Completion of Rights Offering. Upon completion of the Rights Offering:

	
  

	
a.

	
The Agent shall issue (in physical form or electronically through the facilities of DTC, in each case in a manner approved by the Company) certificates for the Depositary Units for which Subscriptions have been received.

 

  

 

  

 

	
  

	
b.

	
The Certificates may be physical certificates but may, as instructed by the Company, be issued electronically through the facilities of DTC.

	
  

	
c.

	
For so long as this Agreement shall be in effect, the Company will reserve for issuance and keep available free from preemptive rights a sufficient number of Depositary Units to permit the exercise in full of all Rights issued pursuant to the Rights Offering. Subject to the terms and conditions of this Agreement, the Agent in its capacity as Transfer Agent for the Depositary Units, will issue (in physical form or electronically through the facilities of DTC, in each case in a manner approved by the Company) certificates evidencing the appropriate number of Depositary Units as required from time to time in order to effectuate the Subscriptions.

	
  

	
d.

	
The Company shall take any and all action, including without limitation obtaining the authorization, consent, lack of objection, registration, or approval of any governmental authority, or the taking of any other action under the laws of the United States of America or any political subdivision thereof, to insure that all Depositary Units issuable upon the exercise of the Certificates at the time of delivery of the certificates therefor (subject to payment of the Subscription Price) will be duly and validly issued and fully paid and non-assessable Depositary Units, free from all preemptive rights and taxes, liens, charges, and security interests created by or imposed upon the Company with respect thereto.

 

	
  

	
e.

	
The Company shall from time to time take all action necessary or appropriate to obtain and keep effective all registrations, permits, consents, and approvals of the SEC and any other governmental agency or authority and make such filings under federal and state laws which may be necessary or appropriate in connection with the issuance and delivery of Certificates or the issuance, sale, transfer, and delivery of Depositary Units issued upon exercise of Certificates.

 

	
  

	
6.

	
Procedure for Discrepancies. The Agent shall follow its regular procedures to attempt to reconcile any discrepancies between the number of Depositary Units that any Certificate may indicate are to be issued to a unitholder and the number that the Record Unitholders List indicates may be issued to such unitholder. In any instance where the Agent cannot reconcile such discrepancies by following such procedures, the Agent will consult with the Company for instructions as to the number of Depositary Units, if any, it is authorized to issue. In the absence of such instructions, the Agent is authorized not to issue any Depositary Units to such unitholder.

	
  

	
7.

	
Procedure for Deficient Items. The Agent shall examine the Certificates received by it as Agent to ascertain whether they appear to have been properly completed and executed. In the event the Agent determines that any Certificate does not appear to have been properly completed or executed, or where the Certificates do not appear to be in proper form for Subscription, or any other irregularity in connection with the Subscription appears to exist, the Agent shall follow, where possible, its regular procedures to attempt to cause such irregularity to be corrected. The Agent is not authorized to waive any irregularity in connection with the Subscription, unless the Agent shall have received from the Company the Certificate which was delivered, duly dated and signed by an authorized officer of the Company, indicating that any irregularity in such Certificate has been cured or waived and that such Certificate has been accepted by the Company. If any such irregularity is neither corrected nor waived, the Agent will return to the subscribing unitholder (at its option by either first class mail under a blanket surety bond or insurance protecting the Agent and the Company from losses or liabilities arising out of the non-receipt or nondelivery of Certificates or by registered mail insured separately for the value of such Certificates) to such unitholder's address as set forth in the Subscription any Certificates surrendered in connection therewith and any other documents received with such Certificates, and a letter of notice to be furnished by the Company explaining the reasons for the return of the Certificates and other documents.

 

  

 

  

 

	
  

	
8.

	
Date/Time Stamp. Each document received by the Agent relating to its duties hereunder shall be dated and time stamped when received.

 

	
  

	
9.

	
Tax Reporting. Should any issue arise regarding federal income tax reporting or withholding, the Agent shall take such action as the Company reasonably instructs in writing.

 

	
  

	
10.

	
Termination. The Company may terminate this Agreement at any time by so notifying the Agent in writing. The Agent may terminate this Agreement upon 60 days' prior written notice to the Company. Upon any such termination, the Agent shall be relieved and discharged of any further responsibilities with respect to its duties hereunder. Upon payment of all the Agent's outstanding fees and expenses, the Agent shall forward to the Company or its designee promptly any Certificate or other document relating to the Agent's duties hereunder that the Agent may receive after its appointment has so terminated. Sections 11, 12, 13, and 17 of this Agreement shall survive any termination of this Agreement.

 

	
  

	
11.

	
Authorizations and Protections. As agent for the Company, the Agent:

 

	
  

	
a.

	
shall have no duties or obligations other than those specifically set forth herein or as may subsequently be agreed to in writing by the Agent and the Company;

	
  

	
b.

	
shall have no obligation to issue any Depositary Units unless the Company shall have provided a sufficient number of certificates for such Depositary Units;

 

	
  

	
c.

	
shall be regarded as making no representations and having no responsibilities as to the validity, sufficiency, value, or genuineness of any Certificates surrendered to the Agent hereunder or Depositary Units issued in exchange therefor, and will not be required to or be responsible for and will make no representations as to, the validity, sufficiency, value or genuineness of the Rights Offering;

 

  

 

  

 

	
  

	
d.

	
shall not be obligated to take any legal action hereunder; if, however, the Agent determines to take any legal action hereunder, and where the taking of such action might, in the Agent's reasonable judgment, subject or expose it to any expense or liability, the Agent shall not be required to act unless it shall have been furnished with an indemnity reasonably satisfactory to it;

 

	
  

	
e.

	
may rely on and shall be fully authorized and protected in acting or failing to act upon any certificate, instrument, opinion, notice, letter, telegram, telex, facsimile transmission, or other document or security delivered to the Agent and believed by it to be genuine and to have been signed by the proper party or parties;

 

	
  

	
f.

	
shall not be liable or responsible for any recital or statement contained in the Prospectus or any other documents relating thereto;

 

	
  

	
g.

	
shall not be liable or responsible for any failure on the part of the Company to comply with any of its covenants and obligations relating to the Rights Offering, including without limitation obligations under applicable securities laws;

 

	
  

	
h.

	
may rely on and shall be fully authorized and protected in acting or failing to act upon the written, telephonic, or oral instructions of officers of the Company with respect to any matter relating to the Agent acting as Agent covered by this Agreement (or supplementing or qualifying any such actions);

 

	
  

	
i.

	
may consult with counsel satisfactory to the Agent, including internal counsel, and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered, or omitted by the Agent hereunder in good faith and in reliance upon the advice of such counsel; and

 

	
  

	
j.

	
is not authorized, and shall have no obligation, to pay any brokers, dealers, or soliciting fees to any person.

 

	
  

	
12.

	
Indemnification. The Company agrees to indemnify the Agent for, and hold it harmless from and against, any loss, liability, claim, or expense ("Loss") arising out of or in connection with the Agent's performance of its duties under this Agreement or this appointment, including the costs and expenses of defending itself against any Loss or enforcing this Agreement, except to the extent that such Loss shall have been determined by a court of competent jurisdiction to be a result of the Agent's negligence or intentional misconduct. Any liability of the Company will be limited to the amount of fees paid by the Company hereunder.

	
  

	
13.

	
Limitation of Liability.

 

	
  

	
a.

	
In the absence of negligence or intentional misconduct on its part, the Agent shall not be liable for any action taken, suffered, or omitted by it or for any error of judgment made by it in the performance of its duties under this Agreement. Anything in this agreement to the contrary notwithstanding, in no event shall the Agent be liable for special, indirect, incidental, or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Agent has been advised of the likelihood of such damages and regardless of the form of action. Any liability of the Agent will be limited to the amount of fees paid by the Company hereunder.

 

  

 

  

 

	
  

	
b.

	
In the event any question or dispute arises with respect to the proper interpretation of this Agreement or the Agent's duties hereunder or the rights of the Company or of any holders surrendering certificates for Depositary Units pursuant to the Rights Offering, the Agent shall not be required to act and shall not be held liable or responsible for refusing to act until the question or dispute has been judicially settled (and the Agent may, if it deems it advisable, but shall not be obligated to, file a suit in interpleader or for a declaratory judgment for such purpose) by final judgment rendered by a court of competent jurisdiction, binding on all unitholders and parties interested in the matter which is no longer subject to review or appeal, or settled by a written document in form and substance satisfactory to the Agent and executed by the Company and each such unitholder and party. In addition, the Agent may require for such purpose, but shall not be obligated to require, the execution of such written settlement by all the unitholders and all other parties that may have an interest in the settlement.

	
  

	
14.

	
Representations, Warranties and Covenants. The Company represents, warrants, and covenants that (a) it is duly formed, validly existing, and in good standing under the laws of its jurisdiction of formation, (b) as of the time the Rights Offering is launched, the making and consummation of the Rights Offering and the execution, delivery, and performance of all transactions contemplated thereby (including without limitation this Agreement) have been duly authorized by all necessary corporate action and will not result in a breach of or constitute a default under the certificate of formation or partnership agreement of the Company or any indenture, agreement, or instrument to which either is a party or is bound, (c) this Agreement has been duly executed and delivered by the Company and constitutes a legal, valid, binding obligation of the Company, enforceable against the Company in accordance with its terms, (d) the Rights Offering will comply in all material respects with all material applicable requirements of law, and (e) to the best of its knowledge, there is no litigation pending as of the date hereof in connection with the Rights Offering.

	
  

	
15.

	
Notices. All notices, demands, and other communications given pursuant to the terms and provisions hereof shall be in writing, shall (except as provided for in Section 16 hereof) be deemed effective on the date of receipt, and may be sent by facsimile, overnight delivery services, or by certified or registered mail, return receipt requested to:

If to the Company:

Icahn Enterprises L.P.

767 Fifth Avenue, 47th Floor

New York, NY 10153

Telephone: [       ]

Facsimile:    [       ]

Email:           [       ]

Attn: Dominick Ragone, Chief Financial Officer

 

  

 

  

 

with a copy to:

Icahn Enterprises L.P.

767 Fifth Avenue, 47th Floor

New York, NY 10153

Telephone: [       ]

Facsimile:    [       ]

Email:           [       ]

Attn: Jesse Lynn, Assistant General Counsel

If to the Agent:

Registrar and Transfer Company

10 Commerce Drive

Cranford, New Jersey 07016-3572

Attention: Kenneth W. Brotz

Telephone: (800) 866-1340

Telecopy: (908) 497-2310

 

	
  

	
16.

	
Instructions. Any instructions given to the Agent orally, as permitted by any provision of this Agreement, shall, upon the request of the Agent, be confirmed in writing by the Company (which for these purposes only may be undertaken by e-mail transmission) as soon as practicable. The Agent shall not be liable or responsible and shall be fully authorized and protected for acting, or failing to act, in accordance with any oral instructions which do not conform with the written confirmation received in accordance with this Section.

	
  

	
17.

	
Fees. Whether or not any Certificates are surrendered to the Agent, for its services as Agent hereunder, the Company shall pay to the Agent the fees reflected on the fee schedule attached hereto, together with reimbursement for reasonable out-of-pocket expenses (such expenses not to exceed $1,000 without prior written approval from the Company). All amounts owed to the Agent hereunder are due upon receipt of the invoice.

 

	
  

	
18.

	
Force Majeure. the Agent shall not be liable for any failure or delay arising out of conditions beyond its reasonable control including, but not limited to, work stoppages, fires, civil disobedience, riots, rebellions, storms, electrical, mechanical, computer or communications facilities failures, acts of God or similar occurrences.

  

 

  

 

	
  

	
19.

	
Miscellaneous.

 

	
  

	
a.

	
This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey without giving effect to conflict of laws, rules, or principles.

	
  

	
b.

	
No provision of this Agreement may be amended, modified, or waived, except in writing signed by all of the parties hereto.

 

	
  

	
c.

	
Except as expressly set forth elsewhere in this Agreement, all notices, instructions, and communications under this Agreement shall be in writing, shall be effective upon receipt and shall be addressed as provided in Section 16 to such other address as a party hereto shall notify the other parties in writing.

 

	
  

	
d.

	
In the event that any claim of inconsistency between this Agreement and the terms of the Rights Offering arise, as they may from time to time be amended, the terms of the Rights Offering shall control, except with respect to the Agent's duties, liabilities, and rights, including without limitation compensation and indemnification, which shall be controlled by the terms of this Agreement.

 

	
  

	
e.

	
If any provision of this Agreement shall be held illegal, invalid, or unenforceable by any court, this Agreement shall be construed and enforced as if such provision had not been contained herein and shall be deemed an Agreement among the parties hereto to the full extent permitted by applicable law.

 

	
  

	
f.

	
This Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the respective successors and assigns of the parties hereto.

 

	
  

	
g.

	
This Agreement may not be assigned by any party without the prior written consent of all parties.

 

	
  

	
h.

	
This Agreement may be executed in counterparts, each of which, when taken together, shall constitute one and the same agreement, and each of which may be delivered by the parties by facsimile or other electronic transmission, which shall not impair the validity of such counterparts.

 

  

 

  

 

Signature Page

To

Agent Agreement

IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their duly authorized officers as of the day and year above written.

ICAHN ENTERPRISES L.P.

By: Icahn Enterprises G.P. Inc., its general partner

	
By:

	
/s/ Dominick Ragone

	 
	  	
Name: Dominick Ragone

	 
	  	
Title: Chief Financial Officer

	 

 

REGISTRAR AND TRANSFER COMPANY, as Agent

	
By:

	
/s/ Nick Giancaspro

	 
	  	
Name: Nick Giancaspro

	 
	  	
Title: Vice PresidentUnassociated Document

AMENDMENT NO. 1

Dated as of December 8, 2011

to

STOCK PURCHASE AGREEMENT

dated July 7, 2011

by and between

CARRIAGE GROUP, LLC,

and

MUSCLEPHARM CORPORATION

  

  

  

AMENDMENT TO STOCK PURCHASE AGREEMENT

THIS AMENDMENT NO. 1 TO STOCK PURCHASE AGREEMENT (this “Amendment”) is made as of December 8, 2011, by and between CARRIAGE GROUP, LLC, a limited liability company organized and existing under the laws of the State of Utah (the “Buyer”) and MUSCLEPHARM CORPORATION, a corporation incorporated under the laws of the State of Nevada (the “Seller”), and amends and is supplemental to that certain Stock Purchase Agreement, dated as of July 7, 2011 (“the Original Stock Purchase Agreement”; as amended, the “Stock Purchase Agreement”), made by and between the Buyer and the Seller.

WITNESSETHTH AT:

 

WHEREAS, pursuant to the Original Stock Purchase Agreement, the Buyer agreed to purchase Five Hundred Thousand United States Dollars (USD$500,000) worth of shares of the Seller’s common stock, par value $0.001 (the “Common Stock”), for the purchase price of $0.025 per share (equivalent to 20,000,000 shares of the Seller’s Common Stock);

WHEREAS, the Seller was unable to issue the shares of the Seller’s Common Stock to the Buyer pursuant to the Original Stock Purchase Agreement; and

WHEREAS, in consideration of the Buyer agreeing to waive any and all defaults which may be present under the Original Stock Purchase Agreement, the Seller has agreed to reduce the purchase price thereunder from $0.025 to $0.0125 per share (equivalent to a total of 40,000,000 shares of the Seller’s Common Stock to be delivered to Buyer).

NOW THEREFORE, in consideration of the premises and for the covenants herein contained, the parties hereto agree as follows:

1. Defined Terms.  Unless otherwise expressly defined herein, capitalized terms used in this Amendment that are defined in the Original Stock Purchase Agreement are used herein with the respective meanings assigned to such capitalized terms in the Original Stock Purchase Agreement.

2. Amendment to Original Stock Purchase Agreement.  The Original Stock Purchase Agreement shall be amended as follows:

 

	
  

	
(a)

	
The first recital shall be deleted in its entirety and shall be replaced with the text “WHEREAS, Seller is the owner of 40,000,000 shares of common stock (the “Shares”) of MusclePharm Corporation (the “Corporation”), a corporation incorporated under the laws of the State of Nevada (the “Jurisdiction”); and”; and

 

	
  

	
(b)

	
Section 1 shall be deleted in its entirety and shall be replaced with the text “Buyer hereby agrees to purchase from the Seller and the Seller agrees to sell to the Buyer all of the Shares for the sales price per share of $0.0125, which results in the aggregate purchase price of Five Hundred Thousand United States Dollars (USD$500,000).”.

 

  

  

  

 

3. Share Issuance.  Seller agrees to issue to Buyer a share certificate in the amount of 40,000,000 shares of Common Stock in consideration for and in full satisfaction of all shares owed under the Stock Purchase Agreement.

 

4. S-1 Registration Statement.  The Seller agrees that it will file a Registration Statement with the U.S. Securities and Exchange Commission on Form S-1 within thirty (30) days of the execution hereof registering in the name of the Buyer, at a minimum, 40,000,000 shares of the Seller’s Common Stock.

 

5. Waiver.  By its execution of this Amendment and for other good and valuable consideration, the Buyer hereby irrevocably waives any and all defaults which may be present under or in connection with the Original Stock Purchase Agreement.

 

6. Release.  The Buyer, on behalf of itself and its predecessors, successors, agents, affiliates, subrogees, insurers, representatives, personal representatives, legal representatives, transferees, assigns and successors in interest of assigns, and any firm, trust, corporation, partnership, investment vehicle, fund or other entity managed or controlled by the Buyer or in which the Buyer has or had a controlling interest (collectively, the “Buyer Releasors”), in consideration of the releases, agreements and covenants contained in this Amendment, hereby remises, releases, acquits and forever discharges Seller and any and all of its respective direct or indirect affiliates, parent companies, divisions, subsidiaries, agents, consultants, employees, legal counsel, officers, directors, managers, shareholders, stockholders, stakeholders, owners, predecessors, successors, assigns, subrogees, insurers, trustees, trusts, administrators, fiduciaries and representatives, if any (collectively, the “Seller Releasees”), of and from any and all federal, state, local, foreign and any other jurisdiction’s statutory or common law claims (including claims for contribution and indemnification), causes of action, complaints, actions, suits, defenses, debts, sums of money, accounts, covenants, controversies, agreements, promises, losses, damages, orders, judgments and demands of any nature whatsoever, in law or equity, known or unknown, of any kind, including, but not limited to, claims or other legal forms of action arising from the Original Stock Purchase Agreement, or from any other conduct, act, omission or failure to act, whether negligent, intentional, with or without malice, that the Buyer Releasors ever had, now have, may have, may claim to have, or may hereafter have or claim to have, against the Seller Releasees, from the beginning of time up to and including the date hereof.

 

7. No Other Amendment.  Except as amended herein, all terms and conditions of the Original Stock Purchase Agreement remain in full force and effect and the Original Stock Purchase Agreement shall be read and construed as if the terms of this Amendment were included therein by way of addition or substitution, as the case may be.

 

8. Other Documents.  By the execution and delivery of this Amendment, the Buyer and the Seller hereby consent and agree that all references in the Original Stock Purchase Agreement shall be deemed to refer to the Original Stock Purchase Agreement as amended by this Amendment.

 

9. Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of Nevada.

 

  

  

  

 

10. Counterparts.  This Amendment may be executed in as many counterparts as may be deemed necessary or convenient, and by the different parties hereto on separate counterparts each of which, when so executed, shall be deemed to be an original but all such counterparts shall constitute but one and the same agreement.

 

11. Headings.  In this Amendment, section headings are inserted for convenience of reference only and shall be ignored in the interpretation of this Amendment.

 

 

[signature page follows]

 

  

  

  

 

IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment by its duly authorized representative on the day and year first above written.

 

	 	 
MUSCLEPHARM CORPORATION

	 
	 	 	 	 
	
 

	
By: 

	/s/ Brad Pyatt	 
	 	 	Name: Brad Pyatt	 
	 	 	Title: Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	 
CARRIAGE GROUP, LLC

	 
	 	 	 	 
	 	 
By: 

	/s/ Curtis Young	 
	 	 	Name: Curtis Young	 
	 	 	Title: Managing Member

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