Document:

Exhibit 10.1

 

AMENDMENT NO. 1 TO TRANSACTION DOCUMENTS

 

This AMENDMENT NO. 1 TO
TRANSACTION DOCUMENTS (this “Amendment”), dated as of May 20, 2021, by and between GROM SOCIAL ENTERPRISES, INC.,
a Florida corporation (the “Company”), and FIRSTFIRE GLOBAL OPPORTUNITIES FUND, LLC, a Delaware limited liability company
(the “Lender”). Each of the Company and the Lender shall be referred to collectively as the “Parties” and
individually as a “Party.”

 

W I T N E S S E T H:

 

WHEREAS, the Company
and the Lender entered into a Securities Purchase Agreement, dated as of March 11, 2021, (“Securities Purchase Agreement”),
pursuant to which the Company issued to the Lender a convertible promissory note (the “Note”) and a warrant to purchase
shares of the Company’s common stock (the “Warrant” and, together with the Securities Purchase Agreement, the
Note, and certain other transaction documents entered into by the Parties in connection with the transaction, the “Transaction
Documents”); and

 

WHEREAS, the Parties
desire to amend certain terms of the Transaction Documents, as set forth below.

 

NOW, THEREFORE, in
consideration of the mutual promises set forth herein, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, each of the Parties agrees with the other as follows:

 

1.       
Capitalized Terms. Unless otherwise defined herein, all terms and conditions used in this Amendment shall have the meanings
assigned to such terms in the Transaction Documents.

 

2.       
Amendment to Warrant. In order to remove the full-ratchet anti-dilution provision from the Warrant, Sections 2(d) and 3(b)
of the Warrant (as well as the applicable provisions in the other Transaction Documents, if any) is hereby deleted in its entirety.

 

3.       
Amendment to Note. In order to remove the variable conversion rate from the Note, Section 1.2(a) of the Note is hereby deleted
in its entirely and replaced with the following:

 

“1.2Conversion Price.

 

(a)       Calculation
of Conversion Price. The per share conversion price into which Principal Amount and interest (including any Default Interest) under
this Note shall be convertible into shares of Common Stock hereunder (the “Conversion Price”) shall be $0.06 per share (the
“Fixed Conversion Price”).”

 

The related provisions in any of the other Transaction
Documents, if any, shall be amended accordingly.

 

4.       
Full Force and Effect. Except as herein amended, the Transaction Documents shall remain in full force and effect. Upon the
effectiveness of this Amendment, each reference in the Transaction Documents to “this Agreement,” “hereunder,”
“herein” or words of like import shall mean and be a reference to the Transaction Documents, as amended by this Amendment. 

 

5.       
Further Assurances. Each Party hereto, without additional consideration, shall cooperate, shall take such further action
and shall execute and deliver such further documents as may be reasonably requested by the other Party hereto in order to carry out the
provisions and purposes of this Amendment.

 

6.       
Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. Delivery of an executed Amendment by one Party to the other may be
made by physical or electronic transmission to the applicable address and email address set forth in the Transaction Documents.

 

7.       
Headings. The section headings herein are for convenience only and shall not affect the construction hereof.

 

8.       
Governing Law. The substantive laws of the applicable state, as well as terms regarding forum and jurisdiction, as originally
provided in the Transaction Documents shall govern the construction of this Amendment and the rights and remedies of the parties hereto.

 

 

[REMAINDER OF PAGE LEFT BLANK INTENTIONALLY]

 

 

    	 	1	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Amendment No. 1 to Transaction Documents to be duly executed as of the day and year first above written.

 

 

	 	GROM SOCIAL ENTERPRISES, INC.
	 	 	 
	 	By:	/s/ Darren Marks
	 	 	Name: Darren Marks
	 	 	Title: Chairman & CEO
	 	 	 
	 	 
	 	 	 
	 	FIRSTFIRE GLOBAL OPPORTUNITIES FUND, LLC
	 	 	 
	 	 	By: FirstFire Capital Management, LLC
	 	 	 
	 	By:	/s/ Eli Fireman
	 	 	Name: Eli Fireman
	 	 	Title: Manager

 

 

 

 

 

 

 

 

 

 

 

    	 	2Exhibit 10.2

 

 

AMENDMENT NO. 1 

 

TO 

 

CONVERTIBLE PROMISSORY NOTE

 

This Amendment
No. 1 to Convertible Promissory Note (this “Amendment”), dated as of May 21, 2021 (the “Effective Date”),
is entered into by and between Grom Social Enterprises, Inc., a Florida corporation (the “Company”), and Quick Capital,
LLC, a Wyoming limited liability company (the “Holder”).

 

RECITALS

 

WHEREAS, the
Holder is the owner of that certain Convertible Promissory Note, dated December 17, 2020 issued by the Company to the Holder (the “Original
Note”);

 

WHEREAS, Section
IV.3 of the Original Note provides that the provisions of the Original Note may only be amended by an instrument in writing signed
by the Company and the Holder; and

 

WHEREAS, the
Company and the Holder desire to amend the Original Note to change the variable conversion price contained therein to a fixed conversion
price upon the request of a national exchange for the Company’s uplisting purposes.

 

NOW THEREFORE,
in consideration of the mutual promises contained in this Amendment and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Holder, intending to be legally bound, hereby agree as follows:

 

AGREEMENT

 

		1.	Capitalized Terms. Except as may be expressly provided herein, all capitalized terms used herein
shall have the meanings assigned to them in the Original Note.

 

		2.	Amendment to Section 1.2(b). The parties desire to change the Variable Conversion Price set forth
in the Original Note to a fixed Conversion Price, and as such Section 1.2(b) is hereby amended and restated to now read in its
entirety as follows:

 

(b)       Fixed
Conversion Price. At any time, and from time to time, the Holder may utilize the Fixed Conversion Price for conversions of this Note
into Common Stock. The Fixed Conversion Price shall be a rate per share equal to $0.04 (the “Fixed Conversion Price”).
As used in this Note hereafter, “Closing Price” means, for any security as of any date, the closing bid price as reported
on the Over-the-Counter Bulletin Board (the “OTCBB”), OTCQB or applicable trading market or exchange as reported by
a reliable reporting service designated by the Holder or, if the OTCBB is not the principal trading market for such security, the closing
bid price of such security on the principal securities exchange or trading market where such security is quoted, listed or traded. “Trading
Day” shall mean any day on which the Common Stock is tradable for any period on the OTCBB, OTCQB or on the principal securities
exchange or other securities market on which the Common Stock is then being quoted or traded.

 

		3.	Amendment to Section 1.2. In connection with the amendment affected by Section 2 of this
Amendment above, the parties desire to also amend all uses and references of the term “Variable Conversion Price” to read
“Fixed Conversion Price” set forth in the Original Note, and as such, all references/usage of the phrase “Variable Conversion
Price” contained in the first paragraph of Section 1.2 of the Original Note is hereby amended and replaced to read “Fixed
Conversion Price”.

 

 

 

    	 	1	 

     

    

 

	 	4.	Conforming Changes. All provisions in the Original Note and any amendments, attachments, schedules or exhibits thereto in conflict
with this Amendment shall be and hereby are changed to conform to this Amendment.
	 	 	 
	 	5.	Full Force and Effect. All other terms of the Original Note are not amended hereby and shall remain in
full force and effect, except as otherwise set forth in this Amendment. The parties hereby ratify and confirm the terms and conditions
of the Original Note, as supplemented and amended by this Amendment.
	 	 	 
	 	6.	Recitals. The Recitals above are true and correct and are hereby incorporated by reference.
	 	 	 
	 	7.	Applicable law. The substantive laws of the applicable state, as well as terms regarding forum and
jurisdiction, as originally provided in the Original Note shall govern the construction of this Amendment and the rights and remedies
of the parties hereto.
	 	 	 
	 	8.	Fees. The Company shall immediately pay to the Holder $650 on the Effective Date to cover the Holder’s legal expenses in
connection with the preparation of this Amendment.

 

	 	9.	Counterparts. This Amendment may be executed in counterparts (including by means of facsimile or electronic transmission), each
of which shall be deemed an original but all of which, when taken together, will constitute one and the same agreement.

 

 

 

** Signature Page Follows **

 

 

 

 

    	 	2	 

     

    

 

IN WITNESS
WHEREOF, the Company and the Holder have made and executed this Amendment effective as of the Effective Date.

 

 

	
    COMPANY:

     

    Grom Social Enterprises,
    Inc.

     

    By: /s/ Mel Leiner                                              

    Name: Mel Leiner, Executive Vice President

    Title: CEO
	
    HOLDER:

     

    Quick Capital, LLC

     

    By: /s/ Eilon D. Natan                     

    Name: Eilon D. Natan

    Title: Manager

 

 

 

 

 

 

 

 

 

 

 

    	 	3Exhibit 10.3

 

 

AMENDMENT NO. 1 

TO 

COMMON STOCK PURCHASE WARRANT

 

This Amendment
No. 1 to Common Stock Purchase Warrant (this “Amendment”), dated as of May 21, 2021 (the “Effective Date”),
is entered into by and between Grom Social Enterprises, Inc., a Florida corporation (the “Company”), and Quick Capital,
LLC, a Wyoming limited liability company (the “Holder”).

 

RECITALS

 

WHEREAS, the
Holder is the owner of that certain Common Stock Purchase Warrant to purchase 1,183,197 shares of common stock, dated December 17, 2020
issued by the Company to the Holder (the “Original Warrant”);

 

WHEREAS, Section
9 of the Original Warrant provides that the provisions of the Original Warrant may only be amended by an instrument in writing signed
by the Company and the Holder; and

 

WHEREAS, the
Company and the Holder desire to amend the Original Warrant to remove certain anti-dilution provisions contained therein upon the request
of a national exchange for the Company’s uplisting purposes.

 

NOW THEREFORE,
in consideration of the mutual promises contained in this Amendment and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Holder, intending to be legally bound, hereby agree as follows:

 

AGREEMENT

 

		1.	Capitalized Terms. Except as may be expressly provided herein, all capitalized terms used herein
shall have the meanings assigned to them in the Original Warrant.

 

		2.	Amendment to Section 2(c). The parties desire to remove certain anti-dilution protections afforded
to the Holder set forth in the Original Warrant, and as such Section 2(c) of the Original Warrant is hereby amended and restated
to now read in its entirety as follows:

 

(c) [Removed]

 

		3.	Conforming Changes. All provisions in the Original Warrant and any amendments, attachments, schedules
or exhibits thereto in conflict with this Amendment shall be and hereby are changed to conform to this Amendment.

 

		4.	Full Force and Effect. All other terms of the Original
Warrant are not amended hereby and shall remain in full force and effect, except as otherwise set forth in this Amendment. The parties
hereby ratify and confirm the terms and conditions of the Original Warrant, as supplemented and amended by this Amendment.

 

		5.	Recitals. The Recitals above are true and correct and are
hereby incorporated by reference.

 

		6.	Applicable law. The substantive
laws of the applicable state, as well as terms regarding forum and jurisdiction, as originally provided in the Original Warrant shall
govern the construction of this Amendment and the rights and remedies of the parties hereto.

 

		7.	Fees. The Company shall immediately pay to the Holder $650
on the Effective Date to cover the Holder’s legal expenses in connection with the preparation of this Amendment.

 

		8.	Counterparts. This Amendment may be executed in counterparts
(including by means of facsimile or electronic transmission), each of which shall be deemed an original but all of which, when taken
together, will constitute one and the same agreement.

 

** Signature Page Follows **

 

 

 

    	 	1	 

     

    

 

 

IN WITNESS
WHEREOF, the Company and the Holder have made and executed this Amendment effective as of the Effective Date.

 

 

	
    COMPANY:

     

    Grom Social Enterprises,
    Inc.

     

    By: /s/ Mel Leiner                                     

    Name: Mel Leiner, Executive Vice President

    Title: CEO
	
    HOLDER:

     

    Quick Capital, LLC

     

    By: /s/ Eilon Natan                              

    Name: Eilon D. Natan

    Title: Manager

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}]]