Document:

ex1001.htm

Exhibit 10.01

 

OMNIBUS WAIVER AND MODIFICATION AGREEMENT

 

THIS OMNIBUS WAIVER AND MODIFICATION AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Amendment”) dated as of January 9, 2012 by and between CLICKER Inc., a Nevada corporation (the “Company”) and each of the investor signatories hereto (each, an “Investor” and collectively, the “Investors”), amends those certain Debentures (as hereinafter defined) entered into by and between the Company and the Investors.

 

W I T N E S S E T H:

 

WHEREAS, the Company entered into a securities purchase agreement and/or an exchange agreement with each of the Investors (collectively, the “Agreements”) pursuant to which the Company issued convertible debentures (the “Debentures”, and together with the Agreements, the “Transaction Documents”) to the Investors, as set forth on Schedule A hereto;

 

WHEREAS, the Company is currently in default under the Debentures for failure to have enough shares of authorized but unissued common stock available for issuance upon conversion of the Debentures (the “Event of Default”);

 

WHEREAS, the Company and the Investors have agreed to certain amendments to the Transaction Documents subject to the terms and conditions of this Agreement;

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

Section 1.  Capitalized terms used herein without definition and defined in the Debentures are used herein as defined therein.

 

Section 2.  Each Investor hereby waives any defaults or breaches that may have resulted as a result of the Event of Default and agree to waive such defaults and breaches resulting therefrom so long as such Investor owns shares of the Preferred Stock (as hereinafter defined).

 

Section 3.  As consideration for entering into this Agreement, the Company shall issue to the Investors an aggregate of 100 shares of the Company’s series B preferred stock (the “Preferred Stock”) as set forth on Schedule A hereto, which shall be issued on a pro rata basis of the principal face amount outstanding of Debentures each Investor holds compared to the total amount of the principal face amount outstanding of Debentures of all the Investors.  The terms and conditions of the Preferred Stock will be governed by the Certificate of Designation, in for form attached hereto as Exhibit A (the “Certificate of Designation”).

 

Section 4.  This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to the choice of law principles thereof.  Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State of New York located in New York County and the United States District Court for the Southern District of New York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions contemplated hereby.  Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods as are specified for the giving of notices under this Agreement.  Each of the parties hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court.  Each party hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

 

 

  

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Section 5.  Except as expressly set forth above, all of the terms and conditions of the Transaction Documents shall continue in full force and effect after the execution of this Agreement and shall not be in any way changed, modified or superseded by the terms set forth herein, including, but not limited to, any other obligations the Company may have to each Investor under the Agreements and Debentures.  Notwithstanding the foregoing, this Amendment shall be deemed for all purposes as an amendment to the Agreements and Debentures as required to serve the purposes hereof, and in the event of any conflict between the terms and provisions of any other of the Agreements or Debentures, on the one hand, and the terms and provisions of this Amendment, on the other hand, the terms and provisions of this Amendment shall prevail.

 

Section 6.  If any provision of this Amendment shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Amendment in that jurisdiction or the validity or enforceability of any provision of this Amendment in any other jurisdiction.

Section 7.  This Amendment shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.

Section 8. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Amendment and the consummation of the transactions contemplated hereby.

Section 9. Except as expressly set forth herein, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Amendment.

 

Section 10. The parties agree that each of them and/or their respective counsel has reviewed and had an opportunity to revise this Agreement and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Amendment or any amendments hereto.

 

Section 11.  This Amendment may be executed in 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 the other party, it being understood that all parties need not sign the same counterpart.  In the event that any signature is delivered by facsimile or PDF transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were an original thereof.

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written.

 

	 
CLICKER INC.

	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
/s/

	 	 	
 

	 
	
 
Name:  Lloyd Lapidus

	 	 	
 

	 
	
 
Title:    Chief Executive Officer

	 	 	
 

	 

 

[Investor signatures page on the following page]

  

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Investors Signature Page

[        ]

_____________________________________

By:

Its:

[        ]

_____________________________________

By:

Its:

[        ]

_____________________________________

By:

Its:

  

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SCHEDULE A

 

 

	
 

Investor Name

	
Principal Face Amount of Debenture Outstanding

	
Debenture Issuance Date

	
Shares of Preferred Stock

	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  

 

 

 

 

4ex42.htm

Exhibit 4.2

 

	RIGHTS CERTIFICATE #:	 	 	NUMBER OF RIGHTS:

 

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS DATED FEBRUARY  2012 (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE.  COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM CONTINENTAL STOCK TRANSFER & TRUST COMPANY, THE SUBSCRIPTION AGENT.

 

 

OMAGINE, INC.

INCORPORATED UNDER THE LAWS OF DELAWARE

 

 

RIGHTS CERTIFICATE                                                                    Rights Cusip  _______________

EVIDENCING NON-TRANSFERABLE RIGHTS TO PURCHASE SHARES OF COMMON STOCK

 

SUBSCRIPTION PRICE: $1.25 PER SHARE

VOID IF NOT EXERCISED ON OR BEFORE THE RIGHTS EXPIRATION DATE (AS SET FORTH IN THE PROSPECTUS)

 

 

Evidencing Subscription Rights, each to Purchase ONE (1) Share of Common Stock of Omagine, Inc. at Subscription Price: $1.25 per Share

 

 

THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M., EASTERN TIME, ON FEBRUARY  , 2012, UNLESS EXTENDED BY THE COMPANY. THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the number of subscription rights (“Rights”) set forth on the face of this Rights Certificate. Each whole Right entitles the holder thereof, or its assigns, to subscribe for and purchase one (1) share of common stock, with a par value of $0.001 per share (the “Shares”) of Omagine, Inc., a Delaware corporation (the “Company”), at a subscription price of $1.25 per Share (the “Basic Subscription Right”), pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions set forth in the Prospectus and the “Instructions as to the Use of Omagine, Inc. Rights Certificates” accompanying this Rights Certificate. The Rights expire at 5:00 p.m. on February  , 2012, unless extended. If any Shares available for purchase in the Rights Offering are not purchased by other holders of Rights pursuant to the exercise of their Basic Subscription Right (the “Excess Shares”), any Rights holder that exercises its Basic Subscription Right in full may subscribe for a number of Excess Shares pursuant to the terms and conditions of the Rights Offering, subject to allocation and proration, as described in the Prospectus (the “Over-Subscription Privilege”). The Rights represented by this Rights Certificate may be exercised by completing the Form of Election to Purchase on the reverse side hereof and by returning the full payment of the subscription price for each Share in accordance with the “Instructions as to the Use of Omagine, Inc. Rights Certificates” that accompanies this Rights Certificate. The Rights evidenced by this Rights Certificate may not be transferred or sold.

 

This Rights Certificate is not valid unless countersigned by the transfer agent and registered by the registrar.

 

	WITNESS the facsimile signature of a duly authorized officer of Omagine, Inc. 	OMAGINE, INC., COUNTERSIGNED AND REGISTERED	 
	 	 	 	 
	 	
By: 

	 	 
	 	 	 	 
	 	 	 	 
	 	

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

	 
	 	 	 	 
	 	

By: 

	 	 
	 	 	 	 

                     

  

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FORM OF ELECTION TO PURCHASE

 

 

PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

 

The registered holder of this Rights Certificate is entitled to exercise the number of Rights shown in the upper right hand corner of the Rights Certificate and may subscribe for additional shares of common stock pursuant to the Over-Subscription Privilege upon the terms and conditions specified in the Prospectus.

 

The undersigned hereby notifies the Subscription Agent of its irrevocable election to subscribe for shares of common stock in the following amounts:

 

To subscribe for shares of common stock pursuant to your Basic Subscription Right, please complete lines (a) and (c) and sign below. To subscribe for shares of common stock pursuant to your Over-Subscription Privilege, please also complete line (b).

 

(a) EXERCISE OF BASIC SUBSCRIPTION  RIGHT:

 

I subscribe for ____________ (No. of shares of common stock) x $1.25 (Subscription Price) = $_____________ (Payment)

 

(b) EXERCISE OF OVER-SUBSCRIPTION  PRIVILEGE:

 

If you have exercised your Basic Subscription Right in full and wish to subscribe for additional shares of common stock pursuant to your Over-Subscription Privilege:

 

I subscribe for ____________ (No. of shares of common stock) x $1.25 (Subscription Price) = $_____________ (Payment)

 

(c) Total Amount of Payment Enclosed $_______________

 

SIGNATURE(S)

 

I acknowledge that I have received the Prospectus for this Rights Offering and I hereby irrevocably subscribe for the number of shares indicated above, all on the terms and conditions specified in the Prospectus.

 

 

	  	  	  
	
Signature(s) of Subscriber(s)

	  	  

 

IMPORTANT: THE SIGNATURE(S) MUST CORRESPOND IN EVERY PARTICULAR, WITHOUT ALTERATION, WITH THE NAME(S) AS PRINTED ON THE FRONT OF THIS RIGHTS CERTIFICATE.

 

If signature is by trustee(s), executor(s), administrator(s), guardian(s), attorney(s)-in-fact, agent(s), officer(s) of a corporation or another acting in a fiduciary or representative capacity, please provide the following information (please print). See the instructions.

 

	
Name(s):

	 	  
	
Capacity (Full Title):

	  	  

 

  

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SPECIAL INSTRUCTIONS

 

SPECIAL ISSUANCE (a) OR DELIVERY INSTRUCTIONS (b) FOR RIGHTS HOLDERS:

 

(a) To be completed ONLY if the shares representing the Common Stock are to be issued in a name other than that of the registered holder. (See the Instructions.) COMPLETE  MEDALLION GUARANTEE OF SIGNATURE(S).

 

ISSUE COMMON STOCK TO:

 

	  	  	  
	
(Print Name)

	  	  
	  	  	  
	
(Social Security # or Tax ID #)

	  	
(Print Full Address)

(b) To be completed ONLY if the shares representing the Common Stock are to be sent to an address other than that shown on the front of this Rights Certificate. (See the Instructions.)

 

	  	  	  
	
(Please Print Name)

	  	  
	  	  	  
	  	  	
(Print Full Address)

 

SIGNATURE GUARANTEE

 

 

This section must be completed if you have completed the Special Instructions section above.

 

Signature Guaranteed:                                                                                                                     

(Name of Bank or Firm)

 

By: :                                                                                                                     

(Signature of Officer)

 

IMPORTANT: The signatures should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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