Document:

EXHIBIT
4.1a

 

AMENDMENT
TO 

12.5%
ORIGINAL ISSUE DISCOUNT

CONVERTIBLE
PROMISSORY NOTE

DUE
FEBRUARY 9, 2019

 

This
AMENDMENT TO 12.5% ORIGINAL ISSUE DISCOUNT CONVERTIBLE PROMISSORY NOTE (this “Amendment”), dated as of August
31, 2018, is entered into by and between Two Rivers Water & Farming Company, a Colorado corporation (the “Company”),
and Powderhorn I, LP, a Delaware limited partnership or its assigns (the “Holder”). Capitalized terms not defined
herein have the meanings ascribed in the Transaction Documents, as defined in the Agreement as defined herein.

 

Recitals

 

WHEREAS,
the Company and the Holder (the “Parties”) entered into that certain Securities Purchase Agreement, dated as
of February 9, 2018, as amended, modified or supplemented from time to time in accordance with its terms (the “Agreement”);

 

WHEREAS,
pursuant to the Agreement, the Company issued the Holder that certain 12.5% Original Issue Discount Convertible Promissory Note,
due February 9, 2019, as amended, modified or supplemented from time to time in accordance with its terms (the “Note”);
and

 

WHEREAS,
the Note contains certain drafting errors that the Parties desire to correct in order to avoid any misunderstandings regarding
the terms of Conversion and Amortization Payments under the Note.

 

NOW,
THEREFORE, in consideration of the foregoing, and of the mutual representations, warranties, covenants, and agreements herein
contained, the Parties agree as follows:

 

Agreement

 

Section
1. Defined Terms. Unless otherwise indicated herein, all terms which are capitalized but are not otherwise defined herein
shall have the meaning ascribed to them in the Agreement and the Note (the “Transaction Documents”).

 

Section
2. Amendments to Note.

 

A.
The definition of “Alternate Conversion Price” in Section 1 of the Note is hereby amended and restated in its entirety
as follows:

 

“‘Alternate
Conversion Price’ means, (a) during the period immediately following the occurrence of an Event of Default and continuing
until sixty (60) days following the occurrence of an Event of Default and provided that the Event of Default is continuing on
the applicable Conversion Date, 75% of the lowest traded price during the twenty-five (25) Trading Day-period immediately prior
to the applicable Conversion Date and (b) during the period from the sixty-first (61st) day following occurrence of
an Event of Default and continuing until the Event of Default has been cured and provided that the Event of Default is continuing
on the applicable Conversion Date, 55% of the lowest traded price during the 25 Trading Day-period immediately prior to the applicable
Conversion Date.”

 

    	 

    	 

    

 

B.
Section 2(d) of the Note is hereby amended and restated in its entirety as follows:

 

“(d)
Amortization Payments. On March 9, 2018 and on the 9th day of each subsequent month through the Maturity Date (each an
“Amortization Payment Date”), the Holder may redeem one-twelfth (1/12th) of the face amount of this Note and
the guaranteed interest on such redeemed face amount (each, an “Amortization Payment”), in accordance with
the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Company, (i) be made in
cash in an amount equal to 1.05 multiplied by the Amortization Payment (the “Cash Amortization Payment Rate”)
or, (ii) subject to the Company complying with the Equity Conditions, be made in Common Stock, in whole or in part at the sole
discretion of the Company, by applying the Amortization Conversion Price as of the date of issuance of the Common Stock. In the
event that the Holder is receiving any Amortization Payment in the form of Common Stock, the Common Stock issuable in satisfaction
of such Amortization Payment will not be issued until such time as the Holder has requested such issuance, and the Amortization
Conversion Price will be applied as of the date of such request by the Holder for issuance of Common Stock. The Holder may request
an unlimited amount of issuances of Common Stock as partial payment totaling the sum of such Amortization Payment. Notwithstanding
the foregoing, the Holder may, (i) by delivering written notice to the Company at least ten (10) Trading Days prior to an Amortization
Payment Date (the “Acceleration Notice”), require that up to a total of three (3) Amortization Payments be
made on such Amortization Payment Date (including the Amortization Payment scheduled to be made on such Amortization Payment Date),
each of which Amortization Payments severally shall be payable, at the option of the Company, in cash at the Cash Amortization
Payment Rate or, subject to the Company complying with the Equity Conditions, in Common Stock by applying the Amortization Conversion
Price or (ii) in Holder’s sole discretion, the Holder may at any time after an Amortization Payment Date, require that up
to two (2) additional Amortization Payments be made, provided that the entire amount of such two additional Amortization Payments
will be made, at the option of the Company, in cash in an amount equal to 1.05 multiplied by the Cash Amortization Payment Rate
or in Common Stock, in such amounts and at such times as the Holder will request in the Holder’s sole discretion, by applying
the applicable Amortization Conversion Price at the time of issuance, in accordance with the foregoing. The Holder may exercise
its rights set forth in the preceding sentence with respect to an unlimited number of Amortization Payment Dates, until all Amortization
Payments have been made, and any Amortization Payment or Payments for which payment is accelerated pursuant to the preceding sentence
shall be deemed to apply to the latest Amortization Payment Date or Dates in the attached Amortization Schedule (Appendix A) for
which Amortization Payments have not been previously made.”

 

Section
3. Ratifications; Inconsistent Provisions; Severability. Except as otherwise expressly provided herein, the Note is, and
shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and after
the date of this Amendment, all references in the Note to “this Note”, as well as “hereto”, “hereof”,
“hereunder” or words of like import referring to the Note, as applicable, shall mean the Note, as applicable and as
amended by this Amendment. Notwithstanding the foregoing to the contrary, to the extent that there is any inconsistency between
the provisions of the Agreement, the Note or the other Transaction Documents, and this Amendment, the provisions of this Amendment
shall control and be binding. In the event and to the extent that any provision of this Amendment shall be held invalid or unenforceable,
such invalidity or unenforceability shall not affect the validity or enforceability of any other provisions of this Amendment,
all of which shall remain fully enforceable as set forth herein.

 

    	 

    	 

    

 

Section
4. Governing Law. All questions concerning the construction, validity, enforcement
and interpretation of this Amendment (irrespective of the place where it is executed and delivered) shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each Party agrees that all legal proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Amendment (whether brought against a Party or its respective affiliates,
directors, officers, stockholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal
courts sitting in the City of New York. Each Party hereby irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in the City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Amendment),
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that such Party is not personally
subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for
such proceeding. Each of the Parties hereby irrevocably waive personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with
evidence of delivery) to such Party at the address in effect for notices to it under this Amendment or the Transaction Documents
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 other manner permitted by law. If either of the Parties
shall commence an action, suit or proceeding to enforce any provisions of the Amendment, the prevailing party in such action,
suit or proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses
incurred with the investigation, preparation and prosecution of such action or proceeding.

 

Section
5. Headings. The headings contained herein are for convenience only, do not constitute a part of this Amendment and shall
not be deemed to limit or affect any of the provisions hereto.

 

Section
6. Counterparts. This Amendment may be executed in any number of counterparts, all of which will constitute one and the
same instruments and shall become effective when one or more counterparts have been signed by each of the Parties and delivered
to the other party. Facsimile, PFD, or other electronic transmission of any signed original document shall be deemed the same
as delivery of an original.

 

[Signature
page follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Amendment to be executed as of the date first written above by its respective officers
thereunto duly authorized.

 

	 	TWO
    RIVERS WATER & FARMING COMPANY
	 	 
	 	By:	/s/
    Wayne Harding
	 	Name:	Wayne
    Harding
	 	Title:
    	Chief
    Executive Officer

  

	Acknowledged
    and Accepted as of the date first written above:	 
	 	 	 
	POWDERHORN
    I, LP	 
	 		 
	By:	/s/
    Marc L. Manuel	 
	Name:	Marc
    L. Manuel	 
	Title:	Managing
                                         Member of R3 Equity, LLC 

        As
        General Partner of Powderhorn I, LPADDENDUM TO SHARE EXCHANGE AGREEMENT

This ADDENDUM TO SHARE EXCHANGE AGREEMENT (the "Addendum") effective as of August 1, 2018 (the "Effective Date"), amends the Share Exchange Agreement dated April 17, 2018, and is made by and between:

Agora Holdings Inc., a corporation organized under the laws of the State of Utah ("AGORA");

Oleg Sytnyk, an individual residing in the Ukraine ("Sytnyk"), and,

Oleksandr Bondarenko, an individual residing in the Ukraine ("Bondarenko"), with Sytnyk and Bondarenko referred to as the "Sellers", or collectively as the "Seller".

Agora, Sytnyk and Bondarenko are referred to singularly as a "Party" and collectively as the "Parties."

WHEREAS, Sellers own all of the issued and outstanding shares of ESILKROAD NETWORK LIMITED, a Hong Kong corporation ("eSilkroad"), which in turn holds 95% (ninety-five percent) of the authorized capital of ESILKROAD OF UKRAINE, a limited liability company, registered in the Ukraine;

WHEREAS, ESILKROAD is the owner of certain work in progress and proprietary content, concept and design of the eSilknet (B2B social Network)

WHEREAS, on April 17, 2018 the Parties entered into that certain Share Exchange Agreement (the "Agreement"), and the Parties desire to modify certain of the terms and conditions set forth in the Agreement and have agreed to make the following amendments to the Agreement so that the ownership percentage acquired by AGORA of ESILKROAD is reduced from 100% to 51% of the issued and outstanding shares of capital stock of ESILKROAD (referred to hereinafter as the "ESILKROAD Shares").

Notwithstanding anything contained in the Agreement to the contrary, the provisions set forth below will be deemed to be a part of the Agreement and shall supersede any contrary provision in the Agreement. All references in the Agreement and in this Addendum shall be construed to mean the Agreement as amended and supplemented by this Addendum. Any inconsistency between the Agreement and this Addendum shall be resolve din favour of the provisions of this Addendum.

	
1.

	
Defined Terms:  All defined terms used in this Addendum, unless specifically defined in this Addendum, shall have the same meaning as such terms have in the Agreement;

	
2.

	
Modification of the Agreement:

Section 2.01(a) Share Exchange Shall be replaced in its entirety with the following:

	
(a)

	
Subject to and upon the terms and conditions of this Agreement, on the Closing Date (as defined hereafter) AGORA shall acquire 51% of the issued and outstanding ESILKROAD Shares from Sellers with all of such interests being acquired being free from all Encumbrances together with all rights now or hereafter attaching thereto.  Hereinafter in this Agreement the term "ESILKROAD Shares" shall refer to 51% of the issued and outstanding capital of ESILKROAD.

1

Article XI – Post Closing Covenants 11.02 Sytnyk and Bondarenko' Covenants (d) shall be replaced in its entirety with the following:

(d) To provide unaudited financial statements for the fiscal years ended December 31, 2017 and 2016, and the interim unaudited financial statements for the three month periods ended March 31, 2018 and 2017, and June 30, 2018 and 2017, as soon as practicable upon execution of this Addendum, but no later than 15 days, and to provide audited financial statements for the years ended December 31 , 2017 and 2016 and unaudited reviewed financial statements for the three and six month periods ending June 30, 2018 and March 31, 2018, on or before the date that is 45 days from Closing.

Article XI – Post Closing Covenants 11.02 Sytnyk and Bondarenko' Covenants (e) and (f) shall be inserted as follows:

(e) Shall appoint to the Board of Directors of ESILKROAD Mr. Ruben Yakubov as soon as practicable after the Closing.

(f) Shall appoint to the Advisory Board of AGORA Mr. Oleksandr Bondarenko as soon as practicable after the Closing.

Article XII – Additional Covenants of the Parties, shall be inserted following Article XI as follows:

ARTICLE XII

ADDITIONAL COVENANTS OF THE PARTIES

	
(a)

	
It is agreed by and between the Parties that (i) for each new tranche of financing obtained as a result of an introduction of an investor by Bondarenko, Sytnyk or eSilkroad whereby Agora issues Equity, Debt or any other financing instrument, that AGORA will fund 90% of such financing to eSilkroad and shall retain 10% of the proceeds for associated operational costs. Such amounts paid to eSilkroad shall be converted to equity on the basis of Twelve Hundred United States Dollar per common share (US$1,200/share); and (ii) for each new tranche of financing obtained as a result of the introduction of an investor by the the Board of Directors of Agora, its consultants or third parties retained by Agora for the purpose of investor introductions whereby Agora issues Equity, Debt or any other financing instrument, that AGORA will retain 100% of the proceeds for associated operational costs.

	
(b)

	
It is agreed by and between the Parties that Mr. Ruben Yakubov during his term as a Director of eSilknet shall receive a monthly stipend of Eight Thousand United States Dollars (US$8,000.00);

(c) It is agreed by and between the Parties that Mr. Oleksandr Bondarenko during his term as a Advisory Board of AGORA shall receive a monthly stipend of Eight Thousand United States Dollars (US$8,000.00);

 

 

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3.

	
Effect to Amendment: Except as expressively modified in this Addendum, all terms, conditions and covenants set forth in the Agreement shall remain in full force and effect among the parties.

	
4.

	
Amendment: This Addendum may be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each party hereto.

	
5.

	
Governing Law: This Addendum shall be governed by and construed and enforced in accordance with the laws of the State of Utah.

	
6.

	
Counterparts: This Addendum maybe executed in any number of counterparts, each of which shall be an original but all of which together, shall constitute one instrument. A facsimile or other electronic transmission of this signed Addendum shall be legal and binding on all parties hereto.

 

IN WITNESS WHEREOF the Parties hereto have set their hand and seal as of the 31st day of August, 2018.

	
AGORA HOLDINGS INC.  

	
 

	
SELLERS:

 

OLEG SYTNYK

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/Ruben Yakubov

	
 

	/s/Oleg Sytnyk	
 

	
Name:

	
 RUBEN YAKUBOV

	
 

	
OLEG SYTNYK

	
 

	
Title:

	
 PRESIDENT

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	 	 	 	
OLEKSANDR BONDARENKO

	 
	 	 	 	 	 
	 	 	 	/s/Oleksandr Bondarenko	
 

	 	 	 	
OLEKSANDR BONDARENKO

	 

 

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