Document:

Exhibit 10.5

 

		
        Jerrick Media Holdings, Inc.

        2050 Center Ave, Suite 640

        Fort Lee, NJ 07024

        (201) 258- 3770

 

July 27, 2018

 

<<Investor>>

<<Address>>

 

VIA ELECTRONIC MAIL

 

		Re:	Agreement
                                         to Convert – Series B Preferred Stock

 

Dear <<Salutation>> <<Last Name>>:

 

You are being sent this letter as a holder
of <<SeriesB>> shares of Series B Convertible Preferred Stock, par value $.001 per share (the “Series
B Preferred Stock”) of Jerrick Media Holdings, Inc. (the “Company”), which are currently convertible into <<CommonB>>
shares (the “Conversion Shares”) of the Company's common stock, par value $.001 per share (the “Common
Stock”), inclusive of accrued and unpaid dividends and liquidated damages, if any. These Conversion Shares represent
all shares owed to the holder, fulfilling all remaining obligations to the holder. As an incentive to the requested conversion
as set forth below, the Company has agreed to issue you a warrant to purchase shares of the Company’s Common Stock at an
exercise price of $0.30 equal to 50% of the Conversion Shares (the “Incentive Warrant”).

 

Our Current Financing

 

As you may be aware, the Company is currently in the process of pursuing a private offering of units of its securities (the
“Units”) in the amount up to $5,000,000 (the “Offering”). Each Unit consists of (i) one share of the
Company’s Common Stock (the “Shares”) at a price of $0.25 per share (the “Share Price”), and
(ii) a five-year warrant (the “Warrant”) to purchase that amount of shares of the Company’s Common Stock
equal to one hundred percent (100%) of the Shares at an exercise price of $0.30 per share.

 

What We Need From You

 

By executing and delivering this letter,
you will hereby agree to automatically convert upon the closing of the Company’s Offering (the “Conversion”),
your <<SeriesB>> shares of Series B Preferred Stock into <<CommonB>> shares
of the Company’s common stock at a $0.19683 per share conversion price (the “Conversion Price”). In addition,
pursuant to the Conversion, you will receive 0 shares of Common Stock as payment for accrued and unpaid dividends,
from the date of inception of the Company through August 15, 2018 amounting to $0, owed pursuant to your ownership
of the shares of Series B Preferred Stock and converted hereunder. You will also receive an Incentive Warrant to purchase <<Incentive
Warrant>> shares of Common Stock at the exercise price of $0.30 per share.

 

     

     

    

 

To effect the Conversion and issuance of the Incentive Warrant, the Company requests that you (i) complete and execute the
enclosed Notice of Conversion (“Notice of Conversion”); (ii) send scanned copies of the executed Notice of Conversion
to the Company; (iii) send to the Company, originally executed copies of the Notice of Conversion, together with your original
Series B Preferred Stock certificate

 

By your agreement and acknowledgment below, this Letter Agreement shall serve as written confirmation that:

 

(a) You agree to the terms of the Conversion.

 

(b)
You acknowledge and agree that, upon Conversion at the execution hereof, you waive your rights under the Series B Preferred Stock
with respect to Company’s defaults, events of default or failure to comply with covenants, if any, arising therefrom through
the date hereof.

 

(c)
You acknowledge and agree that legends will be placed on the certificates representing the shares of Common Stock to be issued
to you upon the Conversion to the effect that such securities have not been registered under the Securities Act or applicable
state securities laws and appropriate notations thereof will be made in the Company’s books.

 

By signing below, this Letter Agreement shall serve as written confirmation that you have reviewed this Letter Agreement (and
consulted with your legal and tax advisors to the extent you deemed necessary) and agree to the terms and conditions of the
Conversion at the Conversion Price as described herein. Upon execution hereof, you understand that you will be releasing and
discharging the Company and its affiliates from any and all obligations and duties that such persons may have to you with
respect to the Series B Preferred Stock and the Series B Preferred Stock associated therewith will be of no further force
or effect.

 

This Letter Agreement contains the entire understanding between and among the parties and supersedes any prior understandings
and agreements among them respecting the subject matter of this Letter Agreement. This Letter Agreement shall be governed
by and construed in accordance with the laws of the State of New Jersey without regard to choice of law principles. This Letter
Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall
constitute one and the same instrument. In case any provision of this Letter Agreement shall be held to be invalid, illegal
or unenforceable, such provision shall be severable from the rest of this Letter Agreement, and the validity legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

The parties hereby consent and agree that if this Letter Agreement shall at any time be deemed by the parties for any reason
insufficient, in whole or in part, to carry out the true intent and spirit hereof or thereof, the parties will execute or
cause to be executed such other and further assurances and documents as in the reasonable opinion of the parties may be reasonably
required in order more effectively to accomplish the purposes of this Letter Agreement.

 

    	 	2	 

     

    

 

Please indicate confirmation of the terms provided herein by executing and returning this letter in the space provided below.

 

	Very truly yours,	 
	 	 
	JERRICK MEDIA HOLDINGS, INC.	 
	 	 	 
	By:	/s/ Jeremy Frommer	 
	Name:	Jeremy Frommer	 
	Title:	Chief Executive Officer	 
	 	 	 
	Date:	7/27/18	 

 

	ACCEPTED AND AGREED:	 
	 	 	 
	By:	                         	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Date: 	 	 

 

***REMAINDER OF PAGE INTENTIONALLY LEFT BLANK***

 

    	 	3	 

     

    

 

JERRICK MEDIA
HOLDINGS, INC. (the “Company”)

NOTICE OF CONVERSION

 

Conversion of <<SeriesB>> shares
of Series B Cumulative Convertible Preferred Stock.

 

The undersigned hereby elects to convert all (<<SeriesB>> shares) of the Series B Cumulative Convertible Preferred
Stock (the “Preferred Stock”) held by the undersigned into shares of the Company’s Common Stock according
to the provisions hereof and the terms of the Preferred Stock, at the date of close of the current financing round but no
later than August 15th, 2018.

 

Applicable Conversion Price Per Share:
$0.19683

 

Number of Shares of Common Stock Issuable
at Conversion Price: <<CommonB>>

 

Number of Shares of Common Stock Issuable
as Payment for Accrued and Unpaid Dividends, from the date of inception through August 15, 2018: 0

 

Calculation: Based on Accrued Dividends
of $0 as of August 15, 2018

 

Aggregate Number of Shares of Common Stock
Issuable Pursuant to Conversion: <<CommonB>>

 

Incentive Warrant: Additional $0.30 Warrant
Coverage for Conversion of Preferred Shares and Accrued Dividends as of August, 15 2018: <<Incentive Warrant>>

 

Calculation = <<CommonB>>
x 50% = <<Incentive Warrant>>

 

Certificate(s) for all of the Series B Convertible Preferred Stock owned by the undersigned is being delivered herewith.

 

	By:	                	 
	<<Investor>>	 
	Name:	 	 
	Title:	 	 
	Date: 	 	 

 

Deliveries Pursuant to this Notice of Conversion Should
Be Made to:

 

Jerrick Media Holdings, INC

2050 Center Ave, Suite 640

Fort Lee, NJ 07024

 

    	 	4Exhibit 10.6

 

		
        Jerrick Media Holdings, Inc.

        2050 Center Ave, Suite 640

        Fort Lee, NJ 07024

        (201) 258- 3770

 

July 30, 2018

 

<<Entity>>

<<Address Line 1>>

<<Address Line 2>>

 

VIA ELECTRONIC MAIL

 

		Re:	Agreement
to Convert – Convertible Note

 

Dear <<Salutation>> <<Last Name>>:

 

You
are being sent this letter as you are currently the holder of a Convertible Note dated <<Date Signed>> (the
“Note”)
issued by Jerrick Media Holdings, Inc. (the “Company”)
in the original principal amount of <<Principal>> (“Original
Principal Amount”). Marking the note to August 15th,
2018 , you are owed remaining principal of <<Principal>> (“Principal
Amount”), along with accrued interest of <<Interest>>
(the “Interest Amount” together
with the Principal Amount, the “Note Obligation”).
As an incentive to the requested conversion as set forth below, the Company has agreed to issue you a five-year warrant to purchase
shares of the Company’s common stock, par value $0.001 per
share (“Common Stock”)
at an exercise price of $0.30 equal to 50% of the amount of shares underlying the Note Obligation (the “Incentive
Warrant”).

 

Our Current Financing

 

As
you may be aware, the Company is currently in the process of pursuing a private offering of units of its securities (the “Units”)
in the amount up to $5,000,000 (the "Offering"). Each Unit consists of (i) one share of the Company’s
Common Stock (the “Shares”)
at a price of $0.25 per share (the “Share Price”),
and (ii) a five-year warrant (the “Warrant”)
to purchase that amount of shares of the Company’s Common
Stock equal to one hundred percent (100%) of the Shares at an exercise price of $0.30 per share.

 

What We Need From You

 

By
executing and delivering this letter, you will hereby agree to automatically convert upon the closing of the Company’s
Offering (the “Conversion”),
your Note Obligation into shares of the Company’s common
stock at a $0.20 conversion price, for example, if your Note Obligation is equal to $100,000, you would receive 500,000 shares
of Common Stock and an Incentive Warrant to purchase 250,000 shares of Common Stock at the exercise price of $0.30 per share.

 

     

     

    

 

By your agreement and acknowledgment below, this Letter Agreement
shall serve as written confirmation that:

 

(a) You agree to the terms of the Conversion.

 

(b)
You acknowledge and agree that, upon Conversion at the execution hereof, you waive your rights under the Note with respect to Company’s
defaults, events of default or failure to comply with covenants, if any, arising therefrom through the date hereof.

 

(c)
You acknowledge and agree that legends will be placed on the certificates representing the shares of Common Stock to be issued
to you upon the Conversion to the effect that such securities have not been registered under the Securities Act or applicable state
securities laws and appropriate notations thereof will be made in the Company’s
books.

 

By signing below, this Letter Agreement shall serve as written
confirmation that you have reviewed this Letter Agreement (and consulted with your legal and tax advisors to the extent you deemed
necessary) and agree to the terms and conditions of the Conversion at the Conversion Price as described herein. Upon execution
hereof, you understand that you will be releasing and discharging the Company and its affiliates from any and all obligations and
duties that such persons may have to you with respect to the Note Obligation and the Note associated therewith will be of no further
force or effect.

 

This Letter Agreement contains the entire understanding between
and among the parties and supersedes any prior understandings and agreements among them respecting the subject matter of this Letter
Agreement. This Letter Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey without
regard to choice of law principles. This Letter Agreement may be executed in any number of counterparts, each of which shall be
an original but all of which together shall constitute one and the same instrument. In case any provision of this Letter Agreement
shall be held to be invalid, illegal or unenforceable, such provision shall be severable from the rest of this Letter Agreement,
and the validity legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

The parties hereby consent and agree that if this Letter Agreement
shall at any time be deemed by the parties for any reason insufficient, in whole or in part, to carry out the true intent and spirit
hereof or thereof, the parties will execute or cause to be executed such other and further assurances and documents as in the reasonable
opinion of the parties may be reasonably required in order more effectively to accomplish the purposes of this Letter Agreement.

 

***REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK***

 

    	 	2	 

     

    

 

Please indicate confirmation of the terms provided herein by
executing and returning this letter in the space provided below.

 

	Very truly yours,	 
	 	 
	JERRICK MEDIA HOLDINGS, INC.	 
	 	 	 
	By:	/s/ Jeremy Frommer	 
	Name:	Jeremy Frommer	 
	Title:	Chief Executive Officer	 
	 	 	 
	Date:	7/30/18	 

 

	ACCEPTED AND AGREED:	 
	 	 	 
	By:	                         	 
	Name:	 	 
	Title:	 	 
	<<Entity>>	 
	 	 	 
	Date: 	 	 

 

    	 	3	 

     

    

 

NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert the <<Date Signed>> Note Obligation held by the undersigned into shares of the
Company’s Common Stock according to the provisions hereof
at the date of close of the current financing round, but no later than August 15th, 2018.

 

Number of Shares of Common Stock Issuable at Conversion for
<<Principal>> of Principal: <<Principal Shares>>

 

Calculation: <<Principal>>/$0.20 = <<Principal
Shares>> shares issued

 

Number of Shares of Common Stock Issuable at Conversion for
<<Interest>> of Accrued Interest as of August 15, 2018: <<Interest Shares>>

 

Calculation: <<Interest>>/$0.20 = <<Interest
Shares>> shares issued

 

Total Number of Common Shares Issuable at Conversion: <<Total
Shares>>

 

Incentive Warrant: Additional $0.30 Warrant Coverage for Conversion
of Principal and Accrued Interest as of August, 15 2018: Right to purchase <<Incentive Warrant>> shares at $0.30
Strike

 

Calculation: <<Total Shares>> x 50% = <<Incentive
Warrant>>

 

Please indicate confirmation of the terms provided herein by
executing and returning this letter in the space provided below.

 

	ACCEPTED AND AGREED:	 
	 	 	 
	By:	                	 
	Name:	 	 
	Title:	 	 
	<<Entity>>	 
	 	 	 
	Date: 	 	 

 

    	 	4

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