Document:

AMENDMENT
TO SECURITIES PURCHASE AGREEMENT

This
Amendment to Securities Purchase Agreement (this “Amendment”), dated April 1, 2016, by and between Epic Stores
Corp. (the “Company”), and Old Main Capital, LLC (the “Purchaser”), hereby amends, effective
as of the date hereof, that certain Securities Purchase Agreement, dated as of January 27,
2016, by and among the Company and the Purchaser (the “Securities Purchase Agreement”). Capitalized
terms used herein but not otherwise defined shall have the meanings ascribed to such terms in the Securities Purchase Agreement.

RECITALS

A.Pursuant
to Section 5.5 of the Securities Purchase Agreement, the Securities Purchase Agreement may be amended by a written agreement signed
by the Company and the Purchasers holding at least 67% in interest of the Securities then outstanding.

B.Purchaser
holds at least 67% of the Securities outstanding as of the date hereof.

C.The
parties hereto desire to amend the Securities Purchase Agreement, as set forth in this Amendment.

AGREEMENT

The
parties hereto, intending to be legally bound, agree as follows:

1.                 
Amendments.

(a)               
Section 2.1 of the Securities Purchase Agreement is hereby amended and restated in its entirety to read as follows:

“Purchase.
The Purchasers will purchase an aggregate of up to $750,000 in Subscription Amount corresponding to an aggregate of up to $815,217
in Principal Amount of Notes. The purchase will occur in up to four (4) tranches (each a “Tranche,” and collectively
the “Tranches”), with the first Tranche of $250,000 being closed upon execution of this Agreement (the “First
Closing”). The second Tranche will be for $250,000 and will occur within three (3) Trading Days after the filing of
the Company’s Annual Report on Form 10-K. The third Tranche will be for $125,000 and will occur the Friday after three (3)
Trading Days after the Filing Date. The fourth Tranche will be for $125,000 and will occur the Friday after three (3) Trading
Days after the SEC Effective Date. The Purchasers shall not be
required to fund any of the second through fourth Tranches if clauses (a), (b) and (d) of the Equity Conditions (as defined in
the Notes) are not met on each of the applicable Closing Dates.”

(b)Section
4.13 of the Securities Purchase Agreement is hereby amended and restated in its entirety to read as follows:

“Variable
Rate Transactions. From the date hereof until such time as no Purchaser holds any Notes or Underlying Shares, the Company
shall be prohibited from

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effecting
or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock
Equivalents (or a combination of units thereof) involving a Variable Rate Transaction. “Variable Rate Transaction”
means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable
or exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion price, exercise
price or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the shares
of Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise or
exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or
upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market
for the Common Stock or (ii) enters into an equity line of credit or similar agreement. Any Purchaser shall be entitled to obtain
injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect
damages.”

2.                 
Effect of this Amendment. Except as expressly provided in this Amendment, the Securities Purchase Agreement shall not be
amended or otherwise modified. In the event there is a conflict between the terms of the Securities Purchase Agreement and the
terms of this Amendment, the terms provided in this Amendment shall control. On and after the date hereof, each reference in the
Securities Purchase Agreement to “this Agreement,” “hereunder,” “hereof,” “hereto,”
“herein,” or words of like import referring to the Securities Purchase Agreement shall mean and be a reference to
the Securities Purchase Agreement as amended by this Amendment.

3.                 
Acknowledgment and Agreement. Each party hereto hereby acknowledges and agrees that except as expressly provided in this
Amendment, nothing in this Amendment shall be construed as a waiver of any provision of the Securities Purchase Agreement by any
party hereto, nor shall it in any way affect the validity of, or the right of any party hereto to enforce the provisions of the
Securities Purchase Agreement.

4.                 
Full Force and Effect. This Amendment is expressly made subject to the terms and conditions of the Securities Purchase
Agreement as modified herein, and, except as expressly modified herein, the Securities Purchase Agreement shall continue in full
force and effect without change.

5.                 
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Amendment 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 hereto or its respective affiliates,
directors, officers, shareholders, 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

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with
any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of this Amendment),
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it 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 party hereby irrevocably waives 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 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 party shall commence an action, suit or proceeding
to enforce any provisions of this Amendment, then 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.

6.                 
Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any
of such that may be hereafter declared invalid, illegal, void or unenforceable.

7.                 
No Interpretation Against Drafter. This Amendment is the product of negotiations between the parties hereto represented
by counsel and any rules of construction relating to interpretation against the drafter of an agreement shall not apply to this
Amendment and are expressly waived.

8.                 
Counterparts. This Amendment may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other
party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

[Signatures
on the Following Page]

 

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IN
WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first written above.

Company:

Epic Stores Corp.

By: /s/ Brian Davidson

Name: Brian Davidson

Title: President

 

Purchaser:

OLD MAIN Capital,
LLC

By: /s/ Adam Long

Name: Adam Long

Title: President

    	 	4AMENDMENT
TO REGISTRATION RIGHTS AGREEMENT

This
Amendment to Registration Rights Agreement (this “Amendment”), dated April 1, 2016, by and between Epic Stores
Corp. (the “Company”), and Old Main Capital, LLC (the “Purchaser”), hereby amends, effective
as of the date hereof, that certain Registration Rights Agreement, dated as of January 27,
2016, as amended, by and among the Company and the Purchaser (the “Registration Rights Agreement”).
Capitalized terms used herein but not otherwise defined shall have the meanings ascribed to such terms in the Registration Rights
Agreement.

RECITALS

A.Pursuant
to Section 6(f) of the Registration Rights Agreement, the Registration Rights Agreement may be amended by a written agreement
signed by the Company and the Purchasers holding at least 67% in interest of the Registrable Securities then outstanding.

B.Purchaser
holds at least 67% of the Registrable Securities outstanding as of the date hereof.

C.The
parties hereto desire to amend the Registration Rights Agreement, as set forth in this Amendment.

AGREEMENT

The
parties hereto, intending to be legally bound, agree as follows:

1.                 
Amendments.

(a)               
The following definition is added to Section 1 of the Registration Rights Agreement in alphabetical order:

“‘Notes’
means (i) the Notes (as defined in the Purchase Agreement), (ii) that certain 8% Senior Convertible Promissory Note in the
principal amount of $500,000 issued by the Company to the Purchaser on January 27, 2016, and (iii) that certain 10% Senior Secured
Convertible Promissory Note in the principal amount of $266,000 issued by the Company to the Purchaser on April 1, 2016.”

(b)              
A new Section 2(f) is added to the Registration Rights Agreement as follows:

“If
the Initial Registration Statement is not filed within fifteen (15) calendar days after the date the Company files its Annual
Report on Form 10-K for the fiscal year ended December 31, 2015, then (i) the outstanding principal amount of each Note shall
be automatically increased by 10%, and (ii) the definition of “Alternate Conversion Price” in each of the Notes shall
be automatically amended to read as follows “‘Alternate Conversion Price’ means 40% of the lowest VWAP in the
thirty (30) days prior to the Conversion Date”.”

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2.                 
Effect of this Amendment. Except as expressly provided in this Amendment, the Registration Rights Agreement shall not be
amended or otherwise modified. In the event there is a conflict between the terms of the Registration Rights Agreement and the
terms of this Amendment, the terms provided in this Amendment shall control. On and after the date hereof, each reference in the
Registration Rights Agreement to “this Agreement,” “hereunder,” “hereof,” “hereto,”
“herein,” or words of like import referring to the Registration Rights Agreement shall mean and be a reference to
the Registration Rights Agreement as amended by this Amendment.

3.                 
Acknowledgment and Agreement. Each party hereto hereby acknowledges and agrees that except as expressly provided in this
Amendment, nothing in this Amendment shall be construed as a waiver of any provision of the Registration Rights Agreement by any
party hereto, nor shall it in any way affect the validity of, or the right of any party hereto to enforce the provisions of the
Registration Rights Agreement.

4.                 
Full Force and Effect. This Amendment is expressly made subject to the terms and conditions of the Registration Rights
Agreement as modified herein, and, except as expressly modified herein, the Registration Rights Agreement shall continue in full
force and effect without change.

5.                 
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Amendment 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 hereto or its respective affiliates,
directors, officers, shareholders, 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 any of this Amendment),
and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it 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 party hereby irrevocably waives 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 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 party shall commence an action, suit or proceeding
to enforce any provisions of this Amendment, then 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.

6.                 
Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full

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force
and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable
efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter
declared invalid, illegal, void or unenforceable.

7.                 
No Interpretation Against Drafter. This Amendment is the product of negotiations between the parties hereto represented
by counsel and any rules of construction relating to interpretation against the drafter of an agreement shall not apply to this
Amendment and are expressly waived.

8.                 
Counterparts. This Amendment may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other
party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

[Signatures
on the Following Page]

 

    	 	3	 

     

    

IN
WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first written above.

Company:

Epic Stores Corp.

By: /s/ Brian Davidson

Name: Brian Davidson

Title: President

 

Purchaser:

OLD MAIN Capital,
LLC

By: /s/ Adam Long

Name: Adam Long

Title: President

    	 	4

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