Document:

EXHIBIT 10.1

 

SUBSCRIPTION
AGREEMENT

 

THIS
SUBSCRIPTION AGREEMENT (this “Agreement”) is made and entered into by, and among MAMAMANCINI’S
HOLDINGS, INC., a Nevada corporation (the “Company”) and the individual and/or entity who executes this
Agreement as a purchaser (a “Purchaser”) of the Company’s shares of the Company’s Common Stock
as described below.

 

WHEREAS,
the Company is offering (the “Offering”) a minimum of Two Hundred Fifty Thousand ($250,000) Dollars (the
“Minimum Amount”) and up to Two Million Five Hundred Thousand ($2,500,000) Dollars (the “Maximum Amount”)
of the Company’s shares of common stock, $.00001 par value (the “Shares”), at a price of $1.50 per share;
and

 

WHEREAS,
the Company shall not close on any subscriptions hereunder unless the Minimum Amount has been subscribed for; and

 

WHEREAS,
the Shares will only be sold to “accredited investors” as such term is defined in Rule 501 of Regulation D (“Regulation
D”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”);

 

WHEREAS,
the Subscriber desires to purchase and the Company desires to sell that amount of Common Stock set forth on the signature page
hereof on the terms and conditions hereinafter set forth;

 

NOW,
THEREFORE, in consideration of the premises and the mutual representations and covenants hereinafter set forth, the parties
hereto do hereby agree as follows:

 

I.
SUBSCRIPTION FOR COMMON STOCK AND REPRESENTATIONS BY THE
SUBSCRIBER

 

Subject
to the terms and conditions hereinafter set forth the Subscriber hereby irrevocably subscribes for and agrees to purchase from
the Company, and the Company agrees to sell to the Subscriber, the amount of Common Stock equal to such Subscriber’s subscription
amount set forth on the signature page hereof. The Purchaser shall pay such purchase price, to TD Bank, as escrow agent for MamaMancini’s,
by check payable to MamaMancini’s Holdings, Inc., or by wire transfer of immediately available funds in accordance with
the following wire instructions:

 

TD
BANK, NATIONAL ASSOCIATION

215
MAIN STREET

BRATTLEBORO,
VT

 

ABA
#

DDA
NUMBER: #

 

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BNF:
TD WEALTH MANAGMENT

1006
ASTORIA BLVD.

CHERRY
HILL, NJ 08034

ATTENTION:
David Leondi

 

1.1
In order to subscribe for the Shares, each prospective investor will be required to (i) complete the Subscription Agreement and
Confidential Prospective Purchaser Questionnaire, which is attached as Exhibit A to the Subscription Agreement, and deliver such
executed documents to the Company, and (ii) submit payment for the Common Stock in the manner described in this Section. Subscriptions
are irrevocable.

 

The
Subscription Agreement is not binding on the Company until the Company has received the Subscriber’s executed Subscription
Agreement, Confidential Prospective Purchaser Questionnaire and the funds for the purchase of the Common Stock. The Company reserves
the right to reject in whole or in part, in its sole discretion, or to sell less than amount of Common Stock for which a prospective
investor has subscribed. If the Company rejects all or a portion of any subscription, it will promptly mail the subscriber a check
for all, or the appropriate portion of, the amount submitted with such subscriber’s subscription, without interest thereon
or deduction therefrom.

 

1.2
The Subscriber recognizes that the purchase of the Shares involves a high degree of risk including, but not limited to, the following:
(a) the Company has a limited operating history and requires substantial funds in addition to the proceeds of the Offering; (b)
an investment in the Company is highly speculative, and only investors who can afford the loss of their entire investment should
consider investing in the Company and the Shares; (c) the Subscriber may not be able to liquidate its investment; (d) transferability
of the Common Stock; (e) in the event of a disposition, the Subscriber could sustain the loss of its entire investment; and (f)
the Company has not paid any dividends since its inception and does not anticipate paying any dividend.

 

1.3
The Subscriber represents that the Subscriber is an “accredited investor” as such term is defined in Rule 501 of Regulation
D promulgated under the Securities Act, and that the Subscriber is able to bear the economic risk of an investment in the Shares.

 

1.4
The Subscriber hereby acknowledges and represents that (a) the Subscriber has knowledge and experience in business and financial
matters, prior investment experience, or the Subscriber has employed the services of a “purchaser representative”
(as defined in Rule 501 of Regulation D), attorney and/or accountant to read all of the documents furnished or made available
by the Company both to the Subscriber and to all other prospective investors in the Shares to evaluate the merits and risks of
such an investment on the Subscriber’s behalf; (b) the Subscriber recognizes the highly speculative nature of this investment;
and (c) the Subscriber is able to bear the economic risk that the Subscriber hereby assumes.

 

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1.5
The Subscriber hereby acknowledges it has received, carefully reviewed and understands the Private Placement Memorandum dated
November 5, 2013 (the “PPM”), this Agreement, and all exhibits herein, and any documents which may have been
made available upon request as reflected therein (collectively referred to as the “Offering Materials”), and
hereby represents that the Subscriber has been furnished by the Company during the course of the Offering with all information
regarding the Company, the terms and conditions of the Offering and any additional information that the Subscriber has requested
or desired to know, and has been afforded the opportunity to ask questions of and receive answers from duly authorized officers
or other representatives of the Company concerning the Company and the terms and conditions of the Offering.

 

1.6
(a) In making the decision to invest in the Shares, the Subscriber has relied solely upon the information provided by the Company
in the Offering Materials. To the extent necessary, the Subscriber has retained, at its own expense, and relied upon appropriate
professional advice regarding the investment, tax and legal merits and consequences of this Agreement and the purchase of the
Common Stock hereunder. The Subscriber disclaims reliance on any statements made or information provided by any person or entity
in the course of Subscriber’s consideration of an investment in the Common Stock other than the Offering Materials.

 

(b)
The Subscriber represents that (i) the Subscriber was contacted regarding the sale of the Common Stock by the Company (or an authorized
agent or representative thereof) and (ii) no shares of Common Stock were offered or sold to it by means of any form of general
solicitation or general advertising, and in connection therewith, the Subscriber did not (A) receive or review any advertisement,
article, notice or other communication published in a newspaper or magazine or similar media or broadcast over television or radio,
whether closed circuit, or generally available; or (B) attend any seminar meeting or industry investor conference whose attendees
were invited by any general solicitation or general advertising.

 

1.7
The Subscriber hereby represents that the Subscriber, either by reason of the Subscriber’s business or financial experience
or the business or financial experience of the Subscriber’s professional advisors (who are unaffiliated with and not compensated
by the Company or any affiliate or selling agent of the Company, directly or indirectly), has the capacity to protect the Subscriber’s
own interests in connection with the transaction contemplated hereby.

 

1.8
The Subscriber hereby acknowledges that the Offering has not been reviewed by the United States Securities and Exchange Commission
(the “SEC”) nor any state regulatory authority because the Offering is intended to be exempt from the registration
requirements of Section 5 of the Securities Act pursuant to Regulation D promulgated thereunder. The Subscriber understands that
none of the Shares have been registered under the Securities Act or under any state securities or “blue sky” laws
and agrees not to sell, pledge, assign or otherwise transfer or dispose of the Shares unless they are registered under the Securities
Act and under any applicable state securities or “blue sky” laws or unless an exemption from such registration is
available.

 

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1.9
The Subscriber hereby represents that the Subscriber is purchasing the Shares for the Subscriber’s own account for investment
and not with a view toward the resale or distribution to others. The Subscriber, if an entity, further represents that it was
not formed for the purpose of purchasing the Shares.

 

1.10
The Subscriber understands that there is no active current trading market for the Shares and no assurances can be given when,
if ever, an active market will develop for the Common Stock. The Subscriber understands that even if an active market develops
for the Common Stock, Rule 144 promulgated under the Securities Act (“Rule 144”) requires for non-affiliates,
among other conditions, a holding period that is the greater of six months from the Subscriber’s investment date or one
year after the Company has filed “Form 10 information” with the SEC, prior to the resale of securities acquired in
a non-public offering without having to satisfy the registration requirements under the Securities Act. The Subscriber understands
and hereby acknowledges that the Company is under no obligation to register any of the Shares under the Securities Act or any
state securities or “blue sky” laws other than as set forth in Article V hereof.

 

1.11
The Subscriber agrees that if and to the extent required by an underwriter of the Common Stock in a public offering, the undersigned
will execute a “lock-up” agreement regarding some or all of the Common Stock issuable to the Subscriber pursuant to
this Subscription Agreement thereby agreeing not to sell such securities for a period of time after completion of the public offering
whether or not such securities are included in the public offering.

 

1.12
The Subscriber consents to the placement of a legend on any certificate or other document evidencing the Shares that such Shares
have not been registered under the Securities Act or any state securities or “blue sky” laws and setting forth or
referring to the restrictions on transferability and sale thereof contained in this Agreement. The Subscriber is aware that the
Company will make a notation in its appropriate records with respect to the restrictions on the transferability of such securities.
The legend to be placed on each certificate shall be in form substantially similar to the following:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES OR “BLUE SKY” LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED
ABSENT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT, OR UNLESS THE
COMPANY HAS RECEIVED AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS
NOT REQUIRED.”

 

1.13
The Subscriber hereby represents that the address of the Subscriber furnished by Subscriber on the signature page hereof is the
Subscriber’s principal residence if Subscriber is an individual or its principal business address if it is a corporation
or other entity.

 

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1.14
The Subscriber represents that the Subscriber has full right, power and authority (corporate, statutory and otherwise) to execute
and deliver this Agreement and to purchase the Shares. This Agreement constitutes the legal, valid and binding obligation of the
Subscriber, enforceable against the Subscriber in accordance with its terms.

 

1.15
If the Subscriber is a corporation, partnership, limited liability company, trust, employee benefit plan, individual retirement
account, Keogh Plan, or other tax-exempt entity, it is authorized and qualified to invest in the Company and the person signing
this Agreement on behalf of such entity has been duly authorized by such entity to do so.

 

1.16
The Subscriber acknowledges that at such time, if ever, as the Shares are “registered” (as such term is defined in
Article V hereof), sales of the Shares will be subject to state securities laws.

 

1.17
(a) The Subscriber agrees not to issue any public statement with respect to the Subscriber’s investment or proposed investment
in the Company or the terms of any agreement or covenant between them and the Company without the Company’s prior written
consent, except such disclosures as may be required under applicable law or under any applicable order, rule or regulation.

 

(b)
The Company agrees not to disclose the names, addresses or any other information about the Subscribers, except as required by
law; provided, however, that the Company may use the name of the Subscriber for any offering or in any registration statement
filed pursuant to Article V in which the Subscriber’s Shares are included.

 

1.18
The Subscriber understands that the Shares are being offered and sold in reliance on specific exemptions from the registration
requirements of federal and state securities laws and that the Company and the principals and controlling persons thereof are
relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments, and understandings set forth
herein in order to determine the applicability of such exemptions and the undersigned’s suitability to acquire the Shares.

 

1.19
The Subscriber agrees to hold the Company and its directors, officers, employees, affiliates, controlling persons and agents and
their respective heirs, representatives, successors and assigns harmless and to indemnify them against all liabilities, costs
and expenses incurred by them as a result of (a) any sale or distribution of the Shares in violation of the Securities Act or
any applicable state securities or “blue sky” laws; or (b) any false representation or warranty or any breach or failure
by the Subscriber to comply with any covenant made by the Subscriber in this Agreement or any other document furnished by the
Subscriber to any of the foregoing in connection with this transaction.

 

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II.
REPRESENTATIONS BY AND COVENANTS OF THE COMPANY

 

The
Company hereby represents and warrants to the Subscriber that:

 

2.1
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada and has
full corporate power and authority to conduct its business. The Company is not in violation of any of the provisions of its Articles
of Incorporation, by-laws or other organizational or charter documents including, but not limited to, all documents setting forth
and/or establishing the terms, rights, conditions and/or limitations of any of the Company’s stock (the “Internal
Documents”). The Company is duly qualified to conduct business and is in good standing as a foreign limited liability
company 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, would not result in a direct and/or indirect
(i) material adverse effect on the legality, validity or enforceability of any of its securities and/or this Subscription Agreement,
(ii) material adverse effect on the results of operations, assets, business or financial condition of the Company, or (iii) material
adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under the Offering
Materials (any of (i), (ii) or (iii), a “Material Adverse Effect”).

 

2.2
The Company has all corporate right, power and authority to enter into this Agreement and to consummate the transactions contemplated.
All corporate action on the part of the Company, its directors and stockholders necessary for the (i) authorization execution,
delivery and performance of this Agreement by the Company; and (ii) authorization, sale, issuance and delivery of the Shares contemplated
hereby and the performance of the Company’s obligations hereunder has been taken. This Agreement has been duly executed
and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, enforceable against the Company
in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors
and rules of law governing specific performance, injunctive relief or other equitable remedies, and to limitations of public policy.
The Shares, when issued and fully paid for in accordance with the terms of this Agreement, will be validly issued, fully paid
and nonassessable. The issuance and sale of the Shares contemplated hereby will not give rise to any preemptive rights or rights
of first refusal on behalf of any person which have not been waived in connection with this offering.

 

2.3
The execution, delivery and performance of the Offering Materials and the consummation by the Company of the transactions contemplated
hereby and thereby, do not and will not (i) conflict with or violate any provision of the Company’s Internal Documents,
(ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under,
or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or
both) of, any material agreement, credit facility, debt or other instrument (evidencing a Company debt or otherwise), or other
understanding to which the Company is a party or by which any property or asset of the Company is bound or affected, or (iii)
result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental
authority to which the Company is subject (including federal and state securities laws and regulations), or by which any property
or asset of the Company is bound or affected.

 

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2.4
The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or
registration with, any court or other federal, state, local or other governmental authority or other individual or corporation,
partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company,
government (or an agency or subdivision thereof) or other entity of any kind (a “Person”) in connection with
the execution, delivery and performance by the Company of the Offering Materials, the filing with the SEC of a Form D and filing
other applicable documents for purposes of state securities laws.

 

2.5
The Company possesses all licenses, certificates, authorizations and permits issued by the appropriate federal, state, local or
foreign regulatory authorities necessary to conduct their respective businesses, except where the failure to possess such permits
would not have or reasonably be expected to result in a Material Adverse Effect (“Material Permits”), and it
believes it can obtain, without undue burden or expense, any similar authority for the conduct of its business as planned to be
conducted, and the Company has not received any notice of proceedings relating to the revocation or modification of any Material
Permit.

 

2.6
The Company owns its property and assets free and clear of all mortgages, liens, loans, pledges, security interests, claims, equitable
interests, charges, and encumbrances, except such encumbrances and liens which arise in the ordinary course of business and do
not materially impair the Company’s ownership or use of such property or assets. With respect to the property and assets
it leases, the Company is in compliance in all material respects with such leases and, to its knowledge, holds a valid leasehold
interest free of any liens, claims, or encumbrances.

 

2.7
The Company owns, or possesses adequate rights or licenses to use all trademarks, trade names, service marks, service mark registrations,
service names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental authorizations, trade secrets
and rights necessary to conduct its respective businesses as now and as disclosed to be conducted. The Company had previously
received a challenge to its use of the term “Sunday Sauce” as being an infringement by the Company of a previously
owned trademark and the Company no longer uses the term “Sunday Sauce”. The company has received no challenges as
to its use of trade name rights, patents, patent rights, copyrights, inventions, licenses, service names, other service marks,
service mark registrations, trade secrets or other similar rights of others, or of any such development of similar or identical
trade secrets or technical information by others and no claim, action or proceeding has been made or brought against, or to the
Company's knowledge, has been threatened against, the Company except as previously disclosed in this Section 2.7, regarding trademarks,
trade name rights, patents, patent rights, inventions, copyrights, licenses, service names, service marks, service mark registrations,
trade secrets or other infringement, except where such infringement, claim, action or proceeding would not reasonably be expected
to have either individually or in the aggregate a Material Adverse Effect. The Company is not aware that any of its employees,
officers, or consultants are obligated under any contract (including licenses, covenants, or commitments of any nature) or other
agreement, or subject to any judgment, decree, or order of any court or administrative agency, that would interfere with the use
of such employee’s, officer’s, or consultant’s commercially reasonable efforts to promote the interests of the
Company or that would conflict with the Company’s business as conducted. Neither the execution nor delivery of the Offering
Materials, nor the carrying on of the Company’s business by the employees of the Company, as is presently conducted, nor
the conduct of the Company’s business, will, to the Company’s knowledge, conflict with or result in a breach of the
terms, conditions, or provisions of, or constitute a default under, any contract, covenant, or instrument under which any of such
employees, officers or consultants are now obligated.

 

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2.8
The Company has made or filed all federal and state income and all other tax returns, reports and declarations required by any
jurisdiction to which it is subject, except when the failure to do so would not have a Material Adverse Effect, and has paid all
taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations otherwise due and payable, except those being contested in good faith and has set aside on its books
reserves in accordance with GAAP reasonably adequate for the payment of all taxes for periods subsequent to the periods to which
such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing
authority of any jurisdiction, and the officers of the Company know of no basis for any such claim. The Company has not executed
a waiver with respect to the statute of limitations relating to the assessment or collection of any foreign, federal, statute
or local tax. To the Company’s knowledge, none of the Company’s tax returns is presently being audited by any taxing
authority. To the Company’s knowledge, (i) none of the tax returns of the Company are being audited by the Internal Revenue
Service and (ii) the Company will not have a material tax obligation under any federal or state tax return to be filed.

 

2.9
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company,
currently threatened against or affecting the Company, or any of its respective properties before or by any court, arbitrator,
governmental or administrative agency and/or regulatory authority (federal, state, county, local or foreign), (collectively, an
“Action”) which does and/or could (i) adversely affect or challenge the legality, validity or enforceability
of any of the Offering Materials and/or the Shares, if issued, or the consummation of the transactions contemplated hereby or
thereby or (ii) if there were an unfavorable decision, have, either individually or in the aggregate, a Material Adverse Effect.
The foregoing includes, without limitation, actions, pending or threatened (or any basis therefor known to the Company), involving
the prior employment of any of the Company’s employees, their use in connection with the Company’s business of any
information or techniques allegedly proprietary to any of their former employers, or their obligations under any agreements with
prior employers. The Company is not a party or subject to the provisions of any order, writ, injunction, judgment, or decree of
any court or government agency or instrumentality.

 

2.10
Neither the Company, nor any of their affiliates nor any person acting on their behalf, has engaged in any form of general solicitation
or general advertising (within the meaning of Regulation D under the Securities Act) in connection with the offer or sale of any
of the Shares.

 

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2.11
Neither the Company, nor any of their affiliates nor any person acting on their behalf has, directly or indirectly, made any offers
or sales of any security or solicited any offers to buy any security, under circumstances that would require registration of any
of the Shares under the Securities Act or cause the Offering to be integrated with prior offerings by the Company for purposes
of the Securities Act or any applicable stockholder approval provisions, including without limitation, under the rules and regulations
of any exchange or automated quotation system on which any of the securities of the Company are listed or designated if such integration
would require registration of the Shares under the Securities Act. Neither the Company, nor their affiliates nor any person acting
on their behalf will take any action or steps referred to in the preceding sentence that would require registration of any of
the Shares under the Securities Act.

 

2.12
If the Offering is conducted in accordance with the Offering Materials, neither the sale of the Shares by the Company hereunder
nor its use of the proceeds thereof will violate any applicable provisions of the Trading with the Enemy Act, as amended, or any
of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended)
or any enabling legislation or executive order relating thereto as a result of Company actions. Without limiting the foregoing,
the Company (a) is not a person whose property or interests in property are blocked pursuant to Section 1 of Executive Order 13224
of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism
(66 Fed. Reg. 49079 (2001)) or (b) does not engage in any dealings or transactions, or is not otherwise associated, with any such
person. The Company is in compliance with all applicable provisions of the USA Patriot Act of 2001 (signed into law October 26,
2001).

 

III.
TERMS OF SUBSCRIPTION

 

3.1
All Subscriptions are irrevocable and funds paid hereunder shall be deposited in the Company’s account as provided herein.

 

3.2
A stock certificate representing the Shares purchased by the Subscriber pursuant to this Agreement will be prepared and delivered
to the Subscriber within 10 days of the Closing of this Offering.

 

3.3
the Subscriber hereby authorizes and directs the Company to deliver such certificate to the address set forth on the signature
page to this Subscription Agreement.

 

IV.
REGISTRATION RIGHTS

 

4.1
Definitions. As used in this Agreement, the following terms shall have the following meanings.

 

(a)
The term “Holder” shall mean any person owning or having the right to acquire Registrable Securities (as defined
below) or any permitted transferee of a Holder.

 

(b)
The terms “register,” “registered” and “registration” refer to a registration effected by
preparing and filing a registration statement or similar document in compliance with the Securities Act, and the declaration or
order of effectiveness of such registration statement or document.

 

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(c)
The term “Registrable Securities” shall mean the Shares, provided, however, that securities shall
only be treated as Registrable Securities if and only for so long as they (A) have not been disposed of pursuant to a registration
statement declared effective by the SEC; (B) have not been sold in a transaction exempt from the registration and prospectus delivery
requirements of the Securities Act so that all transfer restrictions and restrictive legends with respect thereto are removed
upon the consummation of such sale; (C) are held by a Holder or a permitted transferee of a Holder pursuant to Section 4.8;
and (D) may not be disposed of under Rule 144 under the Securities Act without restriction.

 

(d)
The term “SEC Guidance” means (i) any publicly-available written or oral guidance, requirements or notice of
the staff of the SEC, and (ii) the Securities Act.

 

(e)
The term “Rule 415” means Rule 415 promulgated by the SEC pursuant to the Securities Act, as such Rule may
be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the SEC having substantially
the same purpose and effect as such Rule.

 

4.2
Resale Registration Statement. The Company will use its commercially reasonable best efforts to file a registration statement
(the “Registration Statement”), ninety (90) days after the closing of the Maximum Amount under this Offering
(the “Filing Date”), covering the resale of all or such portion of the Registrable Securities as permitted
by SEC Guidance, for an offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement filed pursuant
to this Section 4.2 shall be on Form S-1, except if the Company is not then eligible to register for resale the Registrable
Securities on Form S-1, in which case such registration shall be on another appropriate form.

 

4.3
Registration Procedures. Whenever required under this Article IV to include Registrable Securities in a Company
registration statement, the Company shall, as expeditiously as reasonably possible:

 

(a)
Use its best efforts to (i) cause such registration statement to become effective, and (ii) cause such registration statement
to remain effective until the earliest to occur of (A) such date as the sellers of Registrable Securities (the “Selling
Holders”) have completed the distribution described in the registration statement and (B) such time that all of such
Registrable Securities are no longer, by reason of Rule 144 under the Securities Act, required to be registered for the sale thereof
by such Holders. The Company will also use its commercially best efforts to, during the period that such registration statement
is required to be maintained hereunder, file such post-effective amendments and supplements thereto as may be required by the
Securities Act and the rules and regulations thereunder or otherwise to ensure that the registration statement does not contain
any untrue statement of material fact or omit to state a fact required to be stated therein or necessary to make the statements
contained therein, in light of the circumstances under which they are made, not misleading; provided, however, that if applicable
rules under the Securities Act governing the obligation to file a post-effective amendment permits, in lieu of filing a post-effective
amendment that (i) includes any prospectus required by Section 10(a)(3) of the Securities Act or (ii) reflects facts or events
representing a material or fundamental change in the information set forth in the registration statement, the Company may incorporate
by reference information required to be included in (i) and (ii) above to the extent such information is contained in periodic
reports filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
in the registration statement.

 

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(b)
Prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus used in connection
with such registration statement, as may be necessary to comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such registration statement.

 

(c)
Furnish to the Selling Holders such numbers of copies of a prospectus, including a preliminary prospectus as amended or supplemented
from time to time, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably
request in order to facilitate the disposition of Registrable Securities owned by them.

 

(d)
Use commercially best efforts to register and qualify the securities covered by such registration statement under such other federal
or state securities laws of such jurisdictions as shall be reasonably requested by the Selling Holders; provided, however,
that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file
a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service
in such jurisdiction and except as may be required by the Securities Act.

 

(e)
In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual
and customary form, with the managing underwriter of such offering. Each Selling Holder participating in such underwriting shall
also enter into and perform its obligations under such an agreement.

 

(f)
Cause all such Registrable Securities registered hereunder to be listed on each securities exchange or quotation service on which
similar securities issued by the Company are then listed or quoted.

 

(g)
Provide a transfer agent for all Registrable Securities registered pursuant hereunder and CUSIP number for all such Registrable
Securities, in each case not later than the effective date of such registration.

 

(h)
Cooperate with the Selling Holders and the managing underwriters, if any, to facilitate the timely preparation and delivery of
certificates representing the Registrable Securities to be sold, which certificates will not bear any restrictive legends; and
enable such Registrable Securities to be in such denominations and registered in such names as the managing underwriters, if any,
shall request at least two business days prior to any sale of the Registrable Securities to the underwriters.

 

(i)
Comply with all applicable rules and regulations of the SEC.

 

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4.4
Furnish Information. It shall be a condition precedent to the obligation of the Company to take any action pursuant to
this Article IV with respect to the Registrable Securities of any Selling Holder that such Holder shall furnish to the
Company such information regarding the Holder, the Registrable Securities held by the Holder, and the intended method of disposition
of such securities as shall be reasonably required by the Company to effect the registration of such Holder’s Registrable
Securities.

 

4.5
Registration Expenses. The Company shall bear and pay all registration expenses incurred in connection with any registration,
filing or qualification of Registrable Securities with respect to registration pursuant to Section 4.2 hereof for each
Holder, but excluding (i) legal expenses of the Holders and (ii) underwriting discounts and commissions relating to Registrable
Securities.

 

4.6
No Injunction. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such
registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Article
IV.

 

4.7
Indemnification. In the event that any Registrable Securities are included in a registration statement under this Article
IV:

 

(a)
To the extent permitted by law, the Company will indemnify and hold harmless each Holder, any underwriter (as defined in the Securities
Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act
or the Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under
the Securities Act or the Exchange Act, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof)
arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”):
(i) any untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or
final prospectus contained therein or any amendments or supplements thereto, (ii) the omission to state therein a material fact
required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation by the Company
of the Securities Act, the Exchange Act, or any rule or regulation promulgated under the Securities Act or the Exchange Act, and
the Company will pay to each such Holder, underwriter or controlling person, as incurred, any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such loss, claim, damage, liability, or action; provided,
however, that the indemnity agreement contained in this Section 4.7(a) shall not apply to amounts paid in settlement
of any such loss, claim, damage, liability, or action if such settlement is effected without the consent of the Company (which
consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage,
liability, or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity
with written information furnished expressly for use in connection with such registration by any such Holder, underwriter or controlling
person.

 

    	12

    	 

    

 

(b)
To the extent permitted by law, each Selling Holder will indemnify and hold harmless the Company, each of its directors,
each of its officers, each person, if any, who controls the Company within the meaning of the Securities Act, any
underwriter, any other Holder selling securities in such registration statement and any controlling person of any such
underwriter or other Holder, against any losses, claims, damages, or liabilities (joint or several) to which any of the
foregoing persons may become subject, under the Securities Act, or the Exchange Act, insofar as such losses, claims, damages,
or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and
only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such
Holder expressly for use in connection with such registration; and each such Holder will pay, as incurred, any legal or other
expenses reasonably incurred by any person intended to be indemnified pursuant to this Section 4.7(b), in connection
with investigating or defending any such loss, claim, damage, liability, or action; provided, however, that the
indemnity agreement contained in this Section 4.7(b) shall not apply to amounts paid in settlement of any such loss,
claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not
be unreasonably withheld; provided, further, that, in no event shall any indemnity under this Section
4.7(b) exceed the lesser of the cash value of the (i) net proceeds from the Offering received by such Holder or (ii) such
Holder’s investment pursuant to this Agreement as set forth on the signature page attached hereto.

 

(c)
Promptly after receipt by an indemnified party under this Section 4.7 of notice of the commencement of any action (including
any governmental action), such indemnified party shall, if a claim in respect thereof is to be made against any indemnifying party
under this Section 4.7, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying
party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying
party similarly notified, to assume the defense thereof with counsel selected by the indemnifying party and approved by the indemnified
party (whose approval shall not be unreasonably withheld); provided, however, that an indemnified party (together with all other
indemnified parties which may be represented without conflict by one counsel) shall have the right to retain one separate counsel,
with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained
by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party
and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying
party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall
relieve such indemnifying party of any liability to the indemnified party under this Section 4.7, but the omission so to
deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 4.7.

 

    	13

    	 

    

 

(d)
If the indemnification provided for in this Section 4.7 is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then
the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or
payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other
in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as
any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall
be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified
party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such
statement or omission.

 

(e)
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in an underwriting
agreement entered into in connection with an underwritten public offering are in conflict with the foregoing provisions, the provisions
in such underwriting agreement shall control.

 

(f)
The obligations of the Company and Holders under this Section 4.7 shall survive the completion of the Offering.

 

4.8 Permitted
Transferees. The rights to cause the Company to register Registrable Securities granted to the Holders by the Company
under this Article IV may be assigned in full by a Holder in connection with a transfer by such Holder of its
Registrable Securities, to (a) any partner or retired partner of a Holder that is a partnership, or (b) any family member or
trust for the benefit of any individual Holder, provided that (i) such Holder gives prior written notice to the Company; (ii)
such transferee agrees to comply with the terms and provisions of this Agreement; (iii) such transfer is otherwise in
compliance with this Agreement; and (iv) such transfer is otherwise effected in accordance with applicable securities laws.
Except as specifically permitted by this Section 4.8, the rights of a Holder with respect to Registrable Securities as
set out herein shall not be transferable to any other person, and any attempted transfer shall cause all rights of such
Holder therein to be forfeited.

 

V.
MISCELLANEOUS

 

5.1
Any notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified
mail, return receipt requested, or delivered by hand against written receipt therefor, addressed as follows:

 

If
to the Company:

 

MamaMancini’s
Holdings, Inc.

25
Branca Road

East
Rutherford, NJ 07073

Attn:
Carl Wolf

 

if
to the Subscriber, to the Subscriber’s address indicated on the signature page of this Agreement.

 

    	14

    	 

    

 

Notices
shall be deemed to have been given or delivered on the date of mailing, except notices of change of address, which shall be deemed
to have been given or delivered when received.

 

5.2
Except as otherwise provided herein, this Agreement shall not be changed, modified or amended except by a writing signed by the
parties to be charged, and this Agreement may not be discharged except by performance in accordance with its terms or by a writing
signed by the party to be charged.

 

5.3
Subject to the provisions of Section 4.8, this Agreement shall be binding upon and inure to the benefit of the parties
hereto and to their respective heirs, legal representatives, successors and assigns. This Agreement sets forth the entire agreement
and understanding between the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements
and understandings of any and every nature among them.

 

5.4
Upon the execution and delivery of this Agreement by the Subscriber, this Agreement shall become a binding obligation of the Subscriber
with respect to the purchase of the Common Stock as herein provided, subject, however, to the right hereby reserved by the Company
to enter into the same agreements with other subscribers and to add and/or delete other persons as subscribers.

 

5.5
This Subscription Agreement and all issues arising out of the Offering will be governed by and construed solely and exclusively
under and pursuant to the laws of the State of New York as applied to agreements among New York residents entered into and to
be performed entirely within New York. Each of the parties hereto expressly and irrevocably (1) agrees that any legal suit, action
or proceeding arising out of or relating to this Agreement will be instituted exclusively in New York State Supreme Court, County
of New York, or in the United States District Court for the Southern District of New York, (2) waives any objection which Company
may have now or hereafter to the venue of any such suit, action or proceeding, and (3) consents to the jurisdiction of either
the New York State Supreme Court, County of New York, or the United States District Court for the Southern District of New York
in any such suit, action or proceeding. Each of the parties hereto further agrees to accept and acknowledge service of any and
all process which may be served in any such suit, action or proceeding in the New York State Supreme Court, County of New York,
or in the United States District Court for the Southern District of New York and agree that service of process upon it mailed
by certified mail to its address will be deemed in every respect effective service of process upon it, in any such suit, action
or proceeding. THE PARTIES HERETO AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED
UPON OR ARISING OUT OF THIS SUBSCRIPTION AGREEMENT OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY. THE PARTY PREVAILING THEREIN
SHALL BE ENTITLED TO PAYMENT FROM THE OTHER PARTY HERETO OF ALL OF ITS REASONABLE COUNSEL FEES AND DISBURSEMENTS.

 

    	15

    	 

    

 

5.6
The holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect
any other provision of this Agreement, which shall remain in full force and effect. If any provision of this Agreement shall be
declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part, such
provision shall be interpreted so as to remain enforceable to the maximum extent permissible consistent with applicable law and
the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and effect and enforceable
to the extent they are valid, legal and enforceable, and no provisions shall be deemed dependent upon any other covenant or provision
unless so expressed herein.

 

5.7
It is agreed that a waiver by either party of a breach of any provision of this Agreement shall not operate, or be construed,
as a waiver of any subsequent breach by that same party.

 

5.8
All of the representations and warranties contained in this Subscription Agreement shall survive execution and delivery of this
Subscription Agreement and the undersigned’s investment in the Company.

 

5.9
The parties agree to execute and deliver all such further documents, agreements and instruments and take such other and further
action as may be necessary or appropriate to carry out the purposes and intent of this Agreement.

 

5.10
This Agreement may be executed in two or more counterparts each of which shall be deemed an original, but all of which shall together
constitute one and the same instrument.

 

5.11
Nothing in this Agreement shall create or be deemed to create any rights in any person or entity not a party to this Agreement.

 

(Signature
Pages to Follow)

 

    	16

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Subscription Agreement as of _______________________________, 2013.

 

    	17

    	 

    

 

SUBSCRIPTION
AGREEMENT COUNTERPART SIGNATURE PAGE

[COMPANY
OR TRUST]

 

The
undersigned hereby represents, warrants and covenants that the undersigned is duly authorized by the prospective investor to take
all requisite action on the part of the prospective investor listed below to enter into this Agreement and, further, that the
prospective investor has all requisite authority to enter into such Agreement.

 

The
undersigned represents and warrants that each of the above representations, agreements or understandings set forth herein applies
to the prospective investor and that the undersigned has authority under the charter, by-laws, corporate resolutions or trust
agreement of such prospective investor to execute this Agreement.

 

	 	 
	Name
    of Company (Please type or print)	 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

	 	Amount
    of (check one)
	 	_____ check
    enclosed or _____ wire transfer:

 

	Amount
    of Common Stock	 	 	 
	Subscribed
    for: Number of Shares x $1.50 per share	 	$	 

 

    	18

    	 

    

 

SUBSCRIPTION
AGREEMENT COUNTERPART SIGNATURE PAGE

[PARTNERSHIP]

 

If
the prospective investor is a PARTNERSHIP, complete the following and enclose a true copy of the Partnership Agreement of the
prospective investor:

 

The
undersigned hereby represents, warrants and covenants that the undersigned is a general partner of the prospective investor named
below, is duly authorized by the prospective investor to enter into this Agreement, and that the prospective investor has all
requisite authority to enter into this Agreement and set forth below are the names of all Partners of the prospective investor.

 

The
undersigned represents and warrants that each of the above representations, agreements or undertakings set forth herein applies
to the prospective investor and that the undersigned is authorized by such prospective investor to execute this Agreement.

 

	 	 
	Name
    of Partnership (Please type or print)	 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

	Names
    of Partners:	 	Signature:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 (Add
additional sheets if necessary)

 

	 	Amount
    of (check one)
	 	________check
    enclosed or wire transfer: ______

 

	Amount
    of Common Stock Subscribed for: Number of Shares x $1.50 per share	 	$	 

 

    	19

    	 

    

 

SUBSCRIPTION AGREEMENT COUNTERPART SIGNATURE PAGE

[INDIVIDUAL]

 

If
the prospective investor is an individual, please execute this Agreement below. Name of individual (Please type or print)

 

	 	 	 
	By:	 	 
	Name:	 	 

 

And
(if applicable)

 

	By:	 	 
	Name:	 	 

 

HOW
COMMON STOCK WILL BE HELD:

 

	 	Individually	 	 
	 	JTWROS	 	 
	 	TBTE	 	 

 

	 	Amount
    of (check one)
	 	_____ check
    enclosed or wire transfer:____

 

	Amount
    of Common Stock Subscribed for: Number of Shares x $1.50
    per share	 	$	 

 

*If
investment is taken in joint names, both must sign.

 

    	20

    	 

    

 

[ACCEPTANCE
PAGE FOR SUBSCRIPTION AGREEMENT]

 

Agreed
to and accepted as of                  
, 2013.

 

	 	MAMAMANCINI’S
    HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	21

    	 

    

 

CERTIFICATE
OF SIGNATORY

 

(To
be completed if the Common Stock is being subscribed for by an entity)

 

 

I,_____________________________,
am the _________________________, of ____________________________(the “Entity”).

 

I
certify that I am empowered and duly authorized by the Entity to execute and carry out the terms of the Subscription Agreement
and to purchase and hold the Common Stock, and certify further that the Subscription Agreement has been duly and validly executed
on behalf of the Entity and constitutes a legal and binding obligation of the Entity.

 

IN
WITNESS WHEREOF, I have set my hand this _____ day of _____________, 2013

 

	(Signature)	 	 

 

    	22

    	 

    

 

Exhibit
A Purchaser Questionnaire

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	23ex10-1.htm

EXHIBIT 10.1

AMENDMENT TO SECURED PROMISSORY NOTE

 

THIS AMENDMENT TO SECURED PROMISSORY NOTE (the “Amendment”) is executed as of this 16th day of December, 2013 (the “Effective Date”) by and between PEDEVCO CORP., a Texas corporation (“Company”), and the undersigned holder (“Holder”).  Capitalized terms used below and otherwise not defined herein shall have the meanings given to them in the Note and Warrant (each, as defined below).

 

W I T N E S S E T H

 

WHEREAS, on March 22, 2013, the Company issued a secured promissory note to the Holder (the “Note”), with a maturity date of December 31, 2013 (the “Maturity Date”), pursuant to that certain Note and Warrant Purchase Agreement, dated March 22, 2013, entered into by and among the Company, the Holder, and certain other parties thereto (the “Purchase Agreement”);

 

WHEREAS, on March 22, 2013 and pursuant to the Purchase Agreement, the Company issued a warrant to the Holder exercisable for shares of Company common stock at $5.25 per share (as adjusted to reflect the Company’s one-for-three reverse split that was effected on April 23, 2013) (the “Exercise Price”), expiring on March 22, 2017 (the “Original Warrant”); and

 

WHEREAS, the Company and the Holder desire to extend the Maturity Date of the Note with respect to [50%][100%] of the original principal amount due and outstanding thereunder (the “Deferred Principal Amount”) to July 31, 2014 (the “New Maturity Date”), and make certain other changes, and, in consideration thereof, to provide that:

 

	
  

	
(i)

	
the Company shall pay to the Holder all interest accrued under the Note through the Effective Date on January 8, 2014 (the “Payment Date”);

 

	
  

	
(ii)

	
the Company shall pay to the Holder the PIK cash amount equal to 10% of the original principal amount of the Note on the Payment Date;

 

	
  

	
(iii)

	
interest on the Deferred Principal Amount of the Note from the Payment Date through the New Maturity Date shall accrue at 12% per annum;

 

	
  

	
(iv)

	
in addition to the Interest accrued under the Note from the Payment Date through the New Maturity Date with respect to the Deferred Principal Amount, upon the New Maturity Date, the Company shall pay to the Holder an additional payment-in-kind (“Additional PIK”) cash amount equal to 10% of the Deferred Principal Amount of the Note;

 

	
  

	
(v)

	
an additional 4-year cashless warrant (a “New Warrant”) shall be issued to the Holder by the Company exercisable for [double (2x)][triple (3x)] the number of shares issuable under the Original Warrant (as adjusted to reflect the 1-for-3 reverse stock split effected by the Company on April 23, 2013 (the “Stock Split”)), with an “Exercise Price” equal to the closing sales price for the Company’s common stock (or the closing bid, if no sales were reported) as quoted on the NYSE MKT exchange or system on the Effective Date, as reported in The Wall Street Journal or such other source as the Company deems reliable; and

 

  

  

  

	
  

	
(vi)

	
the Holder shall agree to subordinate the Note to certain qualified senior indebtedness, provided that the aggregate principal amount of such indebtedness must be at least US$5,000,000.

 

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

 

1.           [Partial Repayment of Note Principal.  On the Payment Date, the Company shall repay to the Holder 50% of the outstanding unpaid principal amount of the Note.  Effective upon the receipt of the partial principal repayment by the Holder on the Payment Date, the “principal amount” of the Note shall be automatically amended to equal the Deferred Principal Amount.]

 

2.           Amendment to Section 3.1(a) of the Note.  Section 3.1(a) of the Note shall be amended and restated in its entirety to read as follows:

 

“(a)           Interest.  Simple interest on the principal under this Note outstanding from time to time (“Interest”) shall accrue at the fixed rate equal to 10% per annum through the effective date of the first amendment of this Note (the “Amendment Effective Date”), and thereafter Interest on the outstanding unpaid principal amount shall accrue at the fixed rate equal to 12% per annum through the New Maturity Date (as defined below).  Interest accrued through the Amendment Effective Date shall be due and payable on January 8, 2014 (the “Payment Date”), and interest accrued from the Amendment Effective Date through the New Maturity Date shall be due and payable on the New Maturity Date.”

 

3.           Amendment to Section 3.1(b) of the Note.  Section 3.1(b) of the Note shall be amended and restated in its entirety to read as follows:

 

“(b)           Payment-In-Kind.  In addition to the accrual of Interest provided in Section 3.1(a) above, on or before the Payment Date, the Borrower shall pay to the Holder a payment-in-kind (“PIK”) cash amount equal to 10% of the original principal amount of this Note.  In addition, on the New Maturity Date (as defined below), in addition to the accrual of Interest provided in Section 3.1(a) above, the Borrower shall pay to the Holder an additional payment-in-kind (“Additional PIK”) cash amount equal to 10% of the “Deferred Principal Amount” due under the Note, which shall equal the principal amount due and outstanding under the Note after the partial principal repayment by the Borrower to the Holder on or about the Payment Date.”

 

4.           Amendment to Section 3.1(c) of the Note.  Section 3.1(c) of the Note shall be amended and restated in its entirety to read as follows:

 

“(c)           Principal.  To the extent not repaid prior to such date as provided or permitted herein, the principal amount of this Note shall be due and payable within ten (10) Business Days of July 31, 2014, the “New Maturity Date”).  If the principal is not paid when due hereunder, whether by reason of acceleration or on the New Maturity Date, interest on such unpaid principal shall accrue from its due date until paid at the rate of 18% per annum.  If upon the Maturity Date the amount available for distribution to each holder of Notes that are also due as of the Maturity Date is less than the amount that such holder is entitled to pursuant to such holder’s Note, then each holder shall receive its pro rata share pursuant to such holder’s outstanding principal amount and accrued but unpaid interest.

 

5.           Amendment of Note to Include New Section 2.8.  The Note shall be amended to include the following provision as new Section 2.8 thereto:

 

  

  

  

“2.8           Subordination. Notwithstanding anything to the contrary herein, the Borrower agrees, and the Holder by its acceptance hereof likewise agrees, that the Note shall be subordinated by the Holder to Qualified Senior Indebtedness (as defined below).  The Holder agrees to enter into a subordination agreement for Qualified Senior Indebtedness according to standard industry terms and conditions as requested by the lender.  For purposes of this Note, “Qualified Senior Indebtedness” means all indebtedness of the Borrower for money borrowed from any bank or other non-affiliated financial institution or investment group (including any indebtedness to any assignees thereof) whether now existing or hereafter arising, including, without limitation, all principal and interest (including such interest as may accrue after the initiation of bankruptcy proceedings), and all premiums, fees and expenses owing by the Borrower to any such parties in respect of such indebtedness, provided that the aggregate principal amount of such indebtedness must be at least $5,000,000 to qualify as “Qualified Senior Indebtedness” (excluding amounts borrowed from the Holder or its affiliates, and any amounts borrowed from MIE Jurassic Holding Corporation).”

 

6.           Issuance of New Warrant.  Upon the Effective Date, and subject to additional listing approval by the NYSE MKT, the Company shall issue to the Holder a New Warrant in substantially the form attached hereto as Exhibit A, exercisable for a number of shares of common stock of the Company equal to [double (2x)][triple (3x)] the number of shares issuable under the Original Warrant (as adjusted to reflect the Stock Split), with an “Exercise Price” equal to the closing sales price for the Company’s common stock (or the closing bid, if no sales were reported) as quoted on the NYSE MKT exchange or system on the Effective Date, as reported in The Wall Street Journal or such other source as the Company deems reliable.

 

7.           Representations and Warranties.

 

a.           The Company has the requisite corporate power and authority to enter into and perform this Amendment in accordance with the terms hereof.  The execution, delivery and performance of this Amendment by the Company and the consummation by it of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action, no further consent or authorization of the Company, its Board of Directors, stockholders or any other third party is required.  When executed and delivered by the Company, this Amendment shall constitute a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application.

 

8.           With respect to the issuance of the New Warrant and underlying Warrant Stock, the Holder reissues and certifies the representations and warranties made by the Holder to the Company in Section 4 of the Purchase Agreement, including, but not limited to, Section 4.1 (“Business and Financial Experience”), Section 4.2 (“Investment Intent; Blue Sky”), Section 4.7 (“Purchaser Due Diligence”), and Section 4.8 (“Accredited Investor”).

 

9.           Limited Effect.  Except as amended hereby, the Note shall remain in full force and effect, and the valid and binding obligation of the parties thereto.  Upon the effectiveness of this Agreement, each reference in the Note to “Note,” “Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to such Note as amended and modified hereby.  Effective upon the Effective Date, the Note shall automatically represent and evidence the Deferred Principal Amount and it shall not be necessary for the Company to provide the Holder a replacement or amended Note evidencing such Deferred Principal Amount.

 

  

  

  

10.           Effective Time.  This Amendment shall be deemed effective from and after due execution and delivery by each party hereto.

 

11.           Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of California (without giving effect to conflicts of law principles) as to all matters, including validity, construction, effect, performance and remedies of and under this Amendment.

 

12.           Further Assurances.  The parties agree that, from time to time, each of them will take such other action and to execute, acknowledge and deliver such contracts, deeds, or other documents as may be reasonably requested and necessary or appropriate to carry out the purposes and intent of this Agreement and the transactions contemplated herein.

 

13.           Counterparts.  This Agreement may be executed in several counterparts, each of which is an original.  It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts.  A copy of this Agreement signed by one Party and faxed to another Party shall be deemed to have been executed and delivered by the signing Party as though an original.  A photocopy of this Agreement shall be effective as an original for all purposes.

 

[Signature Pages Follow]

 

  

  

  

IN WITNESS WHEREOF, the parties hereto, have caused this Amendment to Secured Promissory Note to be duly executed and delivered as of the date first written above.

 

PEDEVCO CORP.

By:          _____________________________ 

Frank C. Ingriselli

President and Chief Executive Officer

HOLDER:

________________________________

By:                                                      

Name:                                                                

Title:                                                      

  

  

  

Exhibit A

PEDEVCO CORP.

WARRANT

FOR THE PURCHASE OF

COMMON STOCK

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