Document:

Blueprint

  EXHIBIT 10.2

 

THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED
WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM
REGISTRATION PROVIDED BY SECTION 3(b) OF THE SECURITIES ACT OF
1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED
THEREUNDER (THE "1933 ACT)

 

 

US
$80,000.00

 

FRIENDABLE,
INC

8%
CONVERTIBLE REDEEMABLE NOTE

DUE
SEPTEMBER 8, 2017

 

 

FOR
VALUE RECEIVED, Friendable, Inc. (the “Company”)
promises to pay to the order of the COVENTRY ENTERPRISES, LLC and
its authorized successors and permitted assigns ("Holder"), the aggregate
principal face amount of Eighty Thousand dollars exactly (U.S.
$80,000.00) on September 8, 2017 ("Maturity Date") and to pay
interest on the principal amount outstanding hereunder at the rate
of 8% per annum commencing on September 8, 2016. The interest will
be paid to the Holder in whose name this Note is registered on the
records of the Company regarding registration and transfers of this
Note. The principal of, and interest on, this Note are payable at
80 S.W. 8th Street, Suite 2000,
Miami, FL 33130, initially, and if changed, last appearing on the
records of the Company as designated in writing by the Holder
hereof from time to time. The Company will pay each interest
payment and the outstanding principal due upon this Note before or
on the Maturity Date, less any amounts required by law to be
deducted or withheld, to the Holder of this Note by check or wire
transfer addressed to such Holder at the last address appearing on
the records of the Company. The forwarding of such check or wire
transfer shall constitute a payment of outstanding principal
hereunder and shall satisfy and discharge the liability for
principal on this Note to the extent of the sum represented by such
check or wire transfer. Interest shall be payable in Common Stock
(as defined below) pursuant to paragraph 4(b) herein.

 

This
Note is subject to the following additional
provisions:

 

1.           This
Note is exchangeable for an equal aggregate principal amount of
Notes of different authorized denominations, as requested by the
Holder surrendering the same. No service charge will be made for
such registration or transfer or exchange, except that Holder shall
pay any tax or other governmental charges payable in connection
therewith.

 

2.           The
Company shall be entitled to withhold from all payments any amounts
required to be withheld under applicable laws.

 

 

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3.         
This Note may be transferred or exchanged only in compliance with
the Securities Act of 1933, as amended ("Act") and applicable state
securities laws. Any attempted transfer to a non-qualifying party
shall be treated by the Company as void. Prior to due presentment
for transfer of this Note, the Company and any agent of the Company
may treat the person in whose name this Note is duly registered on
the Company's records as the owner hereof for all other purposes,
whether or not this Note be overdue, and neither the Company nor
any such agent shall be affected or bound by notice to the
contrary. Any Holder of this Note electing to exercise the right of
conversion set forth in Section 4(a) hereof, in addition to the
requirements set forth in Section 4(a), and any prospective
transferee of this Note, also is required to give the Company
written confirmation that this Note is being converted
("Notice of
Conversion") in the form annexed hereto as Exhibit A. The date of receipt
(including receipt by telecopy) of such Notice of Conversion shall
be the Conversion Date.

 

4.           (a)           The
Holder of this Note is entitled, at its option, and after full cash
payment for the shares convertible hereunder, to convert all or any amount of
the principal face amount of this Note then outstanding into shares
of the Company's common stock (the "Common Stock") at a price
("Conversion
Price") for each share of Common Stock equal to 50% of the
lowest
closing bid price (with a
ceiling of $0.004 per share) of the Common Stock as reported
on the National Quotations Bureau OTCQB exchange which the
Company’s shares are traded or any exchange upon which the
Common Stock may be traded in the future ("Exchange"), for the

twenty prior trading days including the day
upon which a Notice of Conversion is received by the Company or its
transfer agent (provided such Notice of Conversion is delivered by
fax or other electronic method of communication to the Company or
its transfer agent after 4 P.M. Eastern Standard or Daylight
Savings Time if the Holder wishes to include the same day closing
price). If the shares have not been delivered within 3 business
days, the Notice of Conversion may be rescinded. Such conversion
shall be effectuated by the Company delivering the shares of Common
Stock to the Holder within 3 business days of receipt by the
Company of the Notice of Conversion. Accrued but unpaid interest
shall be subject to conversion. No fractional shares or scrip
representing fractions of shares will be issued on conversion, but
the number of shares issuable shall be rounded to the nearest whole
share. To the extent the Conversion Price of the Company’s
Common Stock closes below the par value per share, the Company will
take all steps necessary to solicit the consent of the stockholders
to reduce the par value to the lowest value possible under law. The
Company agrees to honor all conversions submitted pending this
increase. In the event the Company
experiences a DTC “Chill” on its shares, the conversion
price shall be decreased to 40% instead of 50% while that
“Chill” is in effect. In no event shall the
Holder be allowed to effect a conversion if such conversion, along
with all other shares of Company Common Stock beneficially owned by
the Holder and its affiliates would exceed 9.9% of the outstanding
shares of the Common Stock of the Company. The conversion discount
and lookback period will be adjusted downward (i.e. for the benefit
of the Holder) if the Company offers a more favorable conversion
discount (whether via interest, rate OID or otherwise) or lookback
period to another party while this note is in effect and the Holder
will also get the benefit of any other term (for a example a higher
prepay or a lower fixed conversion price) granted to any third
party while this Note is in effect.

 

(b)           Interest
on any unpaid principal balance of this Note shall be paid at the
rate of 8% per annum. Interest shall be paid by the Company in
Common Stock ("Interest Shares"). The dollar amount converted into
Interest Shares shall be all or a portion of the accrued interest
calculated on the unpaid principal balance of this Note to the date
of such notice.

 

 

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(c)           This
Note may not be redeemed or prepaid.

 

(d)           Upon
(i) a transfer of all or substantially all of the assets of the
Company to any person in a single transaction or series of related
transactions, (ii) a reclassification, capital reorganization or
other change or exchange of outstanding shares of the Common Stock,
or (iii) any consolidation or merger of the Company with or into
another person or entity in which the Company is not the surviving
entity (other than a merger which is effected solely to change the
jurisdiction of incorporation of the Company and results in a
reclassification, conversion or exchange of outstanding shares of
Common Stock solely into shares of Common Stock) (each of items
(i), (ii) and (iii) being referred to as a "Sale Event"), then, in
each case, the Company shall, upon request of the Holder, redeem
this Note in cash for 150% of the principal amount, plus accrued
but unpaid interest through the date of redemption, or at the
election of the Holder, such Holder may convert the unpaid
principal amount of this Note (together with the amount of accrued
but unpaid interest) into shares of Common Stock immediately prior
to such Sale Event at the Conversion Price.

 

(e)           In
case of any Sale Event in connection with which this Note is not
redeemed or converted, the Company shall cause effective provision
to be made so that the Holder of this Note shall have the right
thereafter, by converting this Note, to purchase or convert this
Note into the kind and number of shares of stock or other
securities or property (including cash) receivable upon such
reclassification, capital reorganization or other change,
consolidation or merger by a holder of the number of shares of
Common Stock that could have been purchased upon exercise of the
Note and at the same Conversion Price, as defined in this Note,
immediately prior to such Sale Event. The foregoing provisions
shall similarly apply to successive Sale Events. If the
consideration received by the holders of Common Stock is other than
cash, the value shall be as determined by the Board of Directors of
the Company or successor person or entity acting in good
faith.

 

5.           No
provision of this Note shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal
of, and interest on, this Note at the time, place, and rate, and in
the form, herein prescribed.

 

6.           The
Company hereby expressly waives demand and presentment for payment,
notice of non-payment, protest, notice of protest, notice of
dishonor, notice of acceleration or intent to accelerate, and
diligence in taking any action to collect amounts called for
hereunder and shall be directly and primarily liable for the
payment of all sums owing and to be owing hereto.

 

7.           The
Company agrees to pay all costs and expenses, including reasonable
attorneys' fees and expenses, which may be incurred by the Holder
in collecting any amount due under this Note.

 

8.           If
one or more of the following described "Events of Default" shall
occur:

 

 

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(a)           The
Company shall default in the payment of principal or interest on
this Note or any other note issued to the Holder by the Company;
or

 

(b)           Any
of the representations or warranties made by the Company herein or
in any certificate or financial or other written statements
heretofore or hereafter furnished by or on behalf of the Company in
connection with the execution and delivery of this Note, or the
Securities Purchase Agreement under which this note was issued
shall be false or misleading in any respect; or

 

(c)           The
Company shall fail to perform or observe, in any respect, any
covenant, term, provision, condition, agreement or obligation of
the Company under this Note or any other note issued to the Holder;
or

 

(d)           The
Company shall (1) become insolvent; (2) admit in writing its
inability to pay its debts generally as they mature; (3) make an
assignment for the benefit of creditors or commence proceedings for
its dissolution; (4) apply for or consent to the appointment of a
trustee, liquidator or receiver for its or for a substantial part
of its property or business; (5) file a petition for bankruptcy
relief, consent to the filing of such petition or have filed
against it an involuntary petition for bankruptcy relief, all under
federal or state laws as applicable; or

 

(e)           A
trustee, liquidator or receiver shall be appointed for the Company
or for a substantial part of its property or business without its
consent and shall not be discharged within thirty (30) days after
such appointment; or

 

(f)           Any
governmental agency or any court of competent jurisdiction at the
instance of any governmental agency shall assume custody or control
of the whole or any substantial portion of the properties or assets
of the Company; or

 

(g)           One
or more money judgments, writs or warrants of attachment, or
similar process, in excess of fifty thousand dollars ($50,000) in
the aggregate, shall be entered or filed against the Company or any
of its properties or other assets and shall remain unpaid,
unvacated, unbonded or unstayed for a period of fifteen (15) days
or in any event later than five (5) days prior to the date of any
proposed sale thereunder; or

 

(h)           defaulted
on or breached any term of any other note of similar debt
instrument into which the Company has entered and failed to cure
such default within the appropriate grace period; or

 

(i)           The
Company shall have its Common Stock delisted from an exchange
(including the OTCBB exchange) or, if the Common Stock trades on an
exchange, then trading in the Common Stock shall be suspended for
more than 10 consecutive days;

 

(j)           If
a majority of the members of the Board of Directors of the Company
on the date hereof are no longer serving as members of the
Board;

 

 

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(k)           The
Company shall not deliver to the Holder the Common Stock pursuant
to paragraph 4 herein without restrictive legend within 3 business
days of its receipt of a Notice of Conversion; or

 

(l)           The
Company shall not replenish the reserve set forth in Section 12,
within 3 business days of the request of the Holder.

 

(m)           The
Company shall not be “current” in its filings with the
Securities and Exchange Commission; or

 

(n)           The
Company shall lose the “bid” price for its stock in a
market (including the OTCQB marketplace or other
exchange).

 

Then,
or at any time thereafter, unless cured within 5 days, and in each
and every such case, unless such Event of Default shall have been
waived in writing by the Holder (which waiver shall not be deemed
to be a waiver of any subsequent default) at the option of the
Holder and in the Holder's sole discretion, the Holder may consider
this Note immediately due and payable, without presentment, demand,
protest or (further) notice of any kind (other than notice of
acceleration), all of which are hereby expressly waived, anything
herein or in any note or other instruments contained to the
contrary notwithstanding, and the Holder may immediately, and
without expiration of any period of grace, enforce any and all of
the Holder's rights and remedies provided herein or any other
rights or remedies afforded by law. Upon an Event of Default,
interest shall accrue at a default interest rate of 24% per annum
or, if such rate is usurious or not permitted by current law, then
at the highest rate of interest permitted by law. In the event of a
breach of Section 8(k) the penalty shall be $250 per day the shares
are not issued beginning on the 4th day after the
conversion notice was delivered to the Company. This penalty shall
increase to $500 per day beginning on the 10th day. The penalty
for a breach of Section 8(n) shall be an increase of the
outstanding principal amounts by 20%. In case of a breach of
Section 8(i), the outstanding principal due under this Note shall
increase by 50%. Further, if a breach of Section 8(m) occurs or is
continuing after the 6 month anniversary of the Note, then the
Holder shall be entitled to use the lowest closing bid price during
the delinquency period as a base price for the conversion. For
example, if the lowest closing bid price during the delinquency
period is $0.01 per share and the conversion discount is 50% the
Holder may elect to convert future conversions at $0.005 per share.
If this Note is not paid at maturity, the outstanding principal due
under this Note shall increase by 10%.

 

If the
Holder shall commence an action or proceeding to enforce any
provisions of this Note, including, without limitation, engaging an
attorney, then if the Holder prevails in such action, the Holder
shall be reimbursed by the Company for its attorneys’ fees
and other costs and expenses incurred in the investigation,
preparation and prosecution of such action or
proceeding.

 

Make-Whole for
Failure to Deliver Loss. At the Holder’s election, if the
Company fails for any reason to deliver to the Holder the
conversion shares by the by the 3rd business day following the
delivery of a Notice of Conversion to the Company and if the Holder
incurs a Failure to Deliver Loss, then at any time the Holder may
provide the Company written notice indicating the amounts payable
to the Holder in respect of the Failure to Deliver Loss and the
Company must make the Holder whole as follows:

 

Failure
to Deliver Loss = [(High trade price at any time on or after the
day of exercise) x (Number of conversion shares)]

 

 

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Initials

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The
Company must pay the Failure to Deliver Loss by cash payment, and
any such cash payment must be made by the third business day from
the time of the Holder’s written notice to the
Company.

 

9.           In
case any provision of this Note is held by a court of competent
jurisdiction to be excessive in scope or otherwise invalid or
unenforceable, such provision shall be adjusted rather than voided,
if possible, so that it is enforceable to the maximum extent
possible, and the validity and enforceability of the remaining
provisions of this Note will not in any way be affected or impaired
thereby.

 

10.           Neither
this Note nor any term hereof may be amended, waived, discharged or
terminated other than by a written instrument signed by the Company
and the Holder.

 

11.           The
Company represents that it is not a “shell” issuer and
has never been a “shell” issuer or that if it
previously has been a “shell” issuer that at least 12
months have passed since the Company has reported form 10 type
information indicating it is no longer a “shell issuer.
Further. The Company will instruct its counsel to either (i) write
a 144 opinion to allow for salability of the conversion shares or
(ii) accept such opinion from Holder’s counsel.

 

12.          The
Company shall issue irrevocable transfer agent instructions
reserving 114,285,000 shares of its Common Stock for conversions
under this Note (the “Share Reserve”). The reserve
shall be replenished as needed to allow for conversions of this
Note. Upon full conversion of this Note, any shares remaining in
the Share Reserve shall be cancelled. The Company shall pay all
costs associated with issuing and delivering the shares. If such
amounts are to be paid by the Holder, it may deduct such amounts
from the Conversion Price. Conversion Notices may be sent to the
Company or its transfer agent via electric mail. The company should
at all times reserve a minimum of four times the amount of shares
required if the note would be fully converted.  The Holder may
reasonably request increases from time to time to reserve such
amounts.

 

13.           The
Company will give the Holder direct notice of any corporate actions
including but not limited to name changes, stock splits,
recapitalizations etc. This notice shall be given to the Holder as
soon as possible under law.

 

14.           This
Note shall be governed by and construed in accordance with the laws
of New York applicable to contracts made and wholly to be performed
within the State of New York and shall be binding upon the
successors and assigns of each party hereto. The Holder and the
Company hereby mutually waive trial by jury and consent to
exclusive jurisdiction and venue in the courts of the State of New
York or in the Federal courts sitting in the county or city of New
York. This Agreement may be executed in counterparts, and the
facsimile transmission of an executed counterpart to this Agreement
shall be effective as an original. 

 

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IN
WITNESS WHEREOF, the Company has caused this Note to be duly
executed by an officer thereunto duly authorized.

 

 

Dated:

September 08, 2016

 

 

 

 

	
 

	
FRIENDABLE,
INC

	
 

	
 

	
 

	
 

	
 

	
/s/ Robert
Rositano

	
 

	
By: Robert
Rositano

	
 

	Title:
CEO

 

 

 

 

 

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EXHIBIT A

 

 

NOTICE
OF CONVERSION

 

(To be
Executed by the Registered Holder in order to Convert the
Note)

 

The
undersigned hereby irrevocably elects to convert $___________ of
the above Note into _________ Shares of Common Stock of Friendable,
Inc. (“Shares”) according to the conditions set forth
in such Note, as of the date written below.

 

If
Shares are to be issued in the name of a person other than the
undersigned, the undersigned will pay all transfer and other taxes
and charges payable with respect thereto.

 

Date of
Conversion:
_____________________________________________________________________________________

Applicable
Conversion Price:
______________________________________________________________________________

Signature:
_____________________________________________________________________________________________

[Print
Name of Holder and Title of Signer]

Address:
______________________________________________________________________________________________

______________________________________________________________________________________________
                                                                                                                  

 

 

SSN or
EIN:_________________________

Shares
are to be registered in the following name:
___________________________________________________________________________

 

Name:
_______________________________________________________________________________________________

Address:
_____________________________________________________________________________________________

 Tel:
____________________________________
 Fax: ____________________________________

SSN or
EIN: _____________________________
                        

 

Shares
are to be sent or delivered to the following account:

 

Account
Name:
________________________________________________________________________________________

Address:
______________________________________________________________________________________________

 

 

 

 

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8Blueprint

  EXHIBIT
10.3

 

EIGHTH AMENDMENT AND CLOSING AGREEMENT

 

This
Eighth Amendment and Closing Agreement (the “Agreement”) is made and entered
into as of September 12,
2016 by and among Friendable Inc. (f/k/a iHookup Social Inc.), a
Nevada corporation (the “Company”) and the parties
identified on the signature page hereto (each a “Purchaser” and collectively,
“Purchasers”).
Capitalized terms used but not defined herein will have the
meanings assigned to them in the March 8, 2016 Securities Purchase
Agreement and Transaction Documents (as defined below), as amended
pursuant to an Amendment and Closing Agreement dated May 17, 2016
(“Amendment
Agreement”), as further amended pursuant to a Second
Amendment and Closing Agreement dated May 20, 2016
(“Second Amendment
Agreement”), as further amended pursuant to a Third
Amendment and Closing Agreement dated June 3, 2016
(“Third Amendment
Agreement”), as further amended pursuant to a Fourth
Amendment and Closing Agreement dated June 16, 2016
(“Fourth Amendment
Agreement”), as further amended pursuant to a Fifth
Amendment and Closing Agreement dated July 8, 2016
(“Fifth Amendment
Agreement”), as further amended pursuant to a Sixth
Amendment and Closing Agreement dated August 4, 2016
(“Sixth Amendment
Agreement”), and as further amended pursuant to a
Seventh Amendment and Closing Agreement dated August 15, 2016
(“Seventh Amendment
Agreement”).

 

WHEREAS, the
Company and Purchasers identified on Schedule A entered into Securities
Purchase Agreements (“March
2016 SPA”) and related Transaction Documents with
respect to the Securities identified on Schedule A (“March 2016 Transaction Documents”)
as amended pursuant to the Amendment Agreement, and further amended
pursuant to the Second Amendment Agreement, and further amended
pursuant to the Third Amendment Agreement, and further amended
pursuant to the Fourth Amendment Agreement, and further amended
pursuant to the Fifth Amendment Agreement, and further amended
pursuant to the Sixth Amendment Agreement, and further amended
pursuant to the Seventh Amendment Agreement; and

 

WHEREAS, the
parties wish to further amend the terms of the March 2016 SPA to
increase the Initial Closing Note principal amount from $965,425 to
$1,050,500 (inclusive of Coventry Enterprises LLC’s
investment of $90,000 and Note in the amount of $5,000 issued to
Palladium Capital Advisors LLC both on March 8, 2016) and which
amount also includes as follows:

 

(i)           $110,00
Note principal amount issued on the March 8, 2016 Closing to Alpha
Capital Anstalt, $100,000 additional note principal amount added on
May 17, 2016 (“Allonge
#1”) to the Note issued to Alpha Capital Anstalt on
March 8, 2016, an additional $110,000 additional note principal
amount added on May 20, 2016 (“Allonge #2”) to the Note issued to
Alpha Capital Anstalt on March 8, 2016, an additional $160,000
additional note principal amount added on June 3, 2016
(“Allonge #3”)
to the Note issued to Alpha Capital Anstalt on March 8, 2016, an
additional $50,000 additional note principal amount added on June
16, 2016 (“Allonge
#4”) to the Note issued to Alpha Capital Anstalt on
March 8, 2016, an additional $50,000 additional note principal
amount added on July 8, 2016 (“Allonge #5”) to the Note issued to
Alpha Capital Anstalt on March 8, 2016, an additional $110,000
additional note principal amount added on August 4, 2016
(“Allonge #6”)
to the Note issued to Alpha Capital Anstalt on March 8, 2016, an
additional $157,000 additional note principal amount added on
August 15, 2016 (“Allonge
#7”) to the Note issued to Alpha Capital Anstalt on
March 8, 2016, and an additional $83,000 note principal amount to
be added to the Note issued to Alpha Capital Anstalt on March 8,
2016 in the form of Allonge #8 for an aggregate Subscription Amount
by Alpha Capital Anstalt of $930,000;

 

 

1

 

 

(ii)           $5,000
Note principal amount issued on the March 8, 2016 Closing to
Palladium Capital Advisors LLC, $2,500 additional note principal
amount representing a portion of the Placement Agent fee issued in
the form of Allonge #1 added on May 17, 2016 (“Allonge #1”), an additional $2,750
note principal amount added on May 20, 2016 (“Allonge #2”) representing a
portion of the Placement Agent fee added to the Note issued to
Palladium Capital Advisors LLC on March 8, 2016, an additional
$4,000 note principal amount added on June 3, 2016
(“Allonge #3”)
representing a portion of the Placement Agent fee added to the Note
issued to Palladium Capital Advisors LLC on March 8, 2016, an
additional $1,250 note principal amount added on June 16, 2016
(“Allonge #4”)
representing a portion of the Placement Agent fee added to the Note
issued to Palladium Capital Advisors LLC on March 8, 2016, an
additional $1,250 note principal amount added on July 8, 2016
(“Allonge #5”)
representing a portion of the Placement Agent fee added to the Note
issued to Palladium Capital Advisors LLC on March 8, 2016, an
additional $2,750 note principal amount added on August 4, 2016
(“Allonge #6”)
representing a portion of the Placement Agent fee added to the Note
issued to Palladium Capital Advisors LLC on March 8, 2016, an
additional $3,925 note principal amount added on August 15, 2016
(“Allonge #7”)
representing a portion of the Placement Agent fee added to the Note
issued to Palladium Capital Advisors LLC on March 8, 2016, and an
additional $2,075 note principal amount representing a portion of
the Placement Agent fee to be added to the Note issued to Palladium
Capital Advisors LLC on March 8, 2016 in the form of Allonge #8 (as
further described in Paragraph 6 below) as part of the Initial
Closing for an aggregate Subscription Amount by Palladium Capital
Advisors LLC of $25,500.

 

The
additional note principal amounts of $83,000 and $2,075 are the
“Eighth Additional
Subscription Amount”, and which Subscription Amount
shall be included as part of the Offering.

 

NOW
THEREFORE, in consideration of promises and mutual covenants
contained herein and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby consent and agree as follows:

 

1.           The
Purchasers and Palladium Capital Advisors LLC each consent and
agree to the amendment of the terms of the Offering and upon the
closing of the Eighth Additional Subscription Amount to include
such Eighth Additional Subscription Amount as part of the Initial
Closing of the Offering (“Eighth Additional Initial Closing
Date”).

 

2.           The
Company represents that except as updated and modified on the
Eighth Additional Initial Closing Date Schedules annexed hereto,
the Schedules provided with the March 2016 SPA are and will be true
and accurate on the Eighth Additional Initial Closing
Date.

 

3.           Except
as specifically described in this Agreement, all of the
Company’s representations and warranties contained in the
March 2016 Transaction Documents are and will be true and accurate
as of the Eighth Additional Initial Closing Date.

 

4.           Except
for items affected merely by the passage of time, all of the
Purchasers’ representations and warranties contained in the
March 2016 Transaction Documents are true and accurate as of the
Eighth Additional Initial Closing Date.

 

5.           The
parties agree to amend Schedule A to the March 2016 Transaction
Documents Escrow Agreement to include the Eighth Additional
Subscription Amount therein.

 

6.           In
connection with the Seventh Additional Initial Closing, Palladium
Capital Advisors LLC agrees to take its compensation of 7.5% as
follows: 5% (equal to $4,150 cash) in 1,660,000 shares of Common
Stock (at $0.0025 per share), and 2.5% ($2,075) in the form of
Allonge #8 to the Note issued to Palladium Capital Advisors LLC on
March 8, 2016 which will be used as payment of Palladium Capital
Advisors LLC’s Subscription Amount per Schedule 3.1(s) of the
March 2016 SPA (which was identical to the Purchaser’s Note).
The foregoing notwithstanding, Palladium Capital Advisors LLC
hereby agrees to waive all of the Warrants issuable to Palladium
Capital Advisors LLC in connection with this Eighth Additional
Initial Closing.

 

 

2

 

 

7.           Annexed
hereto as Exhibit C is the
form of Eighth Additional Initial Closing Escrow Agreement to be
executed by the parties in connection with the Eighth Additional
Initial Closing.

 

8.           On
or before the Eighth Additional Initial Closing Date, the Company
undertakes to deliver a bring down legal opinion with an amended
schedule to the legal opinion provided to Purchasers on March 8,
2016 to include the Eighth Additional Subscription Amount therein
and to deliver to the Escrow Agent original Allonges and Warrants
for the Eighth Additional Subscription Amount.

 

9.           In
connection with the Eighth Additional Initial Closing, the Company
agrees to pay Grushko & Mittman, P.C. a legal fee of
$2,500.

 

10.           Except
as specifically described herein, there is no other waiver
expressed or implied.

 

11.         
In this Agreement words importing the singular number include the
plural and vice versa; words importing the masculine gender include
the feminine and neutral genders. The word “person”
includes an individual, body corporate, partnership, trustee or
trust or unincorporated association executor, administrator or
legal representative.

 

12.           The
invalidity or unenforceability of any provision hereof will in no
way affect the validity or enforceability of any other
provision.

 

13.         
All notices, demands, requests, consents, approvals, and other
communications required or permitted in connection with this
Agreement shall be made and given in the same manner set forth in
Section 5.4 of the March 2016 SPA.

 

14.           This
Agreement shall be governed by and construed in accordance with the
laws of the State of New York without regard to conflicts of laws
and principles that would result in the application of the
substantive laws of another jurisdiction. Any action brought by
either party against the other concerning the transactions
contemplated by this Agreement shall be brought only in the state
courts of New York in the federal courts located in the state of
New York. Both parties and the individuals executing this Agreement
and other agreements on behalf of the parties agree to submit to
the jurisdiction of such courts and waive trial by jury. The
prevailing party (which shall be the party which receives an award
most closely resembling the remedy or action sought) shall be
entitled to recover from the other party its reasonable
attorney’s fees and costs. In the event that any provision of
this Agreement or any other agreement delivered in connection
herewith is invalid or unenforceable under any applicable statute
or rule of law, then such provision shall be deemed inoperative to
the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any such
provision which may prove invalid or unenforceable under any law
shall not affect the validity or enforceability of any other
provision of any agreement.

 

15.           The
division of this Agreement into articles, sections, subsections and
paragraphs and the insertion of headings are for convenience of
reference only and shall not affect the construction or
interpretation of this agreement.

 

16.           This
Agreement may be executed in counterparts, all of which when taken
together shall be considered one and the same Agreement and shall
become effective when the counterparts have been signed by each
party and delivered to the other party, it is 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.

 

(Signatures to follow)

 

 

3

 

 

IN
WITNESS WHEREOF, the Company and the undersigned Purchasers have
caused this Eighth Agreement
to be executed as of the date first written above.

 

	
 

	

FRIENDABLE, INC.  

	
 

	
 

	

the “Company”  

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Robert
Rositano Jr.

	
 

	
 

	
 

	

Name: Robert Rositano Jr.

	
 

	
 

	

Title: CEO

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

ALPHA CAPITAL ANSTALT  

	
 

	
 

	

the “Purchaser”  

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

By:  

	
/s/ Konrad
Ackermann

	
 

	
 

	
 

	

Name: Konrad Ackermann

	
 

	
 

	

Title: Director

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

COVENTRY ENTERPRISES LLC  

	
 

	
 

	

the “Purchaser”  

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Sol
Eisnberg

	
 

	
 

	
 

	

Name: Sol Eisnberg

	
 

	
 

	

Title:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

PALLADIUM CAPITAL ADVISORS LLC  

	
 

	
 

	

the “Placement Agent”  

	
 

	
 

	

 

	
 

	
 

	
 

	

 

	
 

	
 

	
 

	

By:

	
/s/ Joel
Padowitz

	
 

	
 

	

 

	

Name: Joel
Padowitz

	
 

	
 

	

 

	

Title: Chief Executive Officer

	
 

 

 

 

 

4

 

 

SCHEDULE A

 

MARCH 2016 CLOSING

 

	

PURCHASERS

	

PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$110,000.00

	

44,000,000

	

COVENTRY
ENTERPRISES LLC

80 S.W.
8th
Street, #2000

Miami,
FL 33130

	

$90,000.00

	

36,000,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $5,000.00 *

	

2,000,000

	

TOTAL

	

$205,000.00

	

82,000,000

 

* A
Note in the amount of $5,000 and corresponding Warrants as
described in Section 2 of the Securities Purchase Agreement will be
issued to Palladium Capital Advisors LLC in lieu of a corresponding
cash amount of a portion of its placement agent fee.

 

AMENDMENT AND CLOSING AGREEMENT

 

	

PURCHASERS

	

ADDITIONAL SUBSCRIPTION AMOUNT

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$100,000.00

	

40,000,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $2,500.00*

	

1,000,000

	

TOTAL

	

$107,500.00

	

41,000,000

 

* A
Note in the amount of $2,500 and corresponding Warrants as
described in Section 2 of the Securities Purchase Agreement will be
issued to Palladium Capital Advisors LLC in lieu of a corresponding
cash amount of its placement agent fee.

 

 

5

 

 

SECOND AMENDMENT AND CLOSING AGREEMENT

	

PURCHASERS

	

ADDITIONAL SUBSCRIPTION AMOUNT

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$110,000.00

	

44,000,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $2,750.00*

	

1,100,000

	

TOTAL

	

$112,750.00

	

45,100,000

 

* A
Note in the amount of $2,750 and corresponding Warrants as
described in Section 2 of the Securities Purchase Agreement will be
issued to Palladium Capital Advisors LLC in lieu of a corresponding
cash amount of its placement agent fee.

 

THIRD AMENDMENT AND CLOSING AGREEMENT

	

PURCHASERS

	

PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$160,000.00

	

64,000,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $4,000.00 *

	

See
note below.

	

TOTAL

	

$164,000.00

	

64,000,000

 

* A
Note in the amount of $4,000 as described in Section 2 of the
Securities Purchase Agreement will be issued to Palladium Capital
Advisors LLC in lieu of a corresponding cash amount of a portion of
its placement agent fee. Palladium Capital Advisors LLC has waived
the requirement for the Company to deliver the corresponding
Warrants in connection with this Closing.

 

 

 

 

 

6

 

 

FOURTH AMENDMENT AND CLOSING AGREEMENT

	

PURCHASERS

	

PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$50,000.00

	

20,000,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $1,250.00 *

	

See
note below.

	

TOTAL

	

$51,250.00

	

20,000,000

 

* A
Note in the amount of $1,250 as described in Section 2 of the
Securities Purchase Agreement will be issued to Palladium Capital
Advisors LLC in lieu of a corresponding cash amount of a portion of
its placement agent fee. Palladium Capital Advisors LLC has waived
the requirement for the Company to deliver the corresponding
Warrants in connection with this Closing.

 

FIFTH AMENDMENT AND CLOSING AGREEMENT

 

	

PURCHASERS

	

PURCHASE PRICE AND PRINCIPAL AMOUNT OF NOTE

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$50,000.00

	

20,000,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $1,250.00 *

	

See
note below.

	

TOTAL

	

$51,250.00

	

20,000,000

 

* A
Note in the amount of $1,250 as described in Section 2 of the
Securities Purchase Agreement will be issued to Palladium Capital
Advisors LLC in lieu of a corresponding cash amount of a portion of
its placement agent fee. Palladium Capital Advisors LLC has waived
the requirement for the Company to deliver the corresponding
Warrants in connection with this Closing.

 

 

7

 

 

SIXTH AMENDMENT AND CLOSING AGREEMENT

 

	

PURCHASERS

	

ADDITIONAL SUBSCRIPTION AMOUNT

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$110,000.00

	

44,000,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $2,750.00*

	

See
note below

	

TOTAL

	

$112,750.00

	

44,000,000

 

* A
Note in the amount of $2,750 as described in Section 2 of the
Securities Purchase Agreement will be issued to Palladium Capital
Advisors LLC in lieu of a corresponding cash amount of a portion of
its placement agent fee. Palladium Capital Advisors LLC has waived
the requirement for the Company to deliver the corresponding
Warrants in connection with this Closing.

 

SEVENTH AMENDMENT AND CLOSING AGREEMENT

 

	

PURCHASERS

	

ADDITIONAL SUBSCRIPTION AMOUNT

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$157,000.00

	

62,800,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $3,925.00*

	

See
note below

	

TOTAL

	

$160,925.00

	

62,800,000

 

* A
Note in the amount of $3,925 as described in Section 2 of the
Securities Purchase Agreement will be issued to Palladium Capital
Advisors LLC in lieu of a corresponding cash amount of a portion of
its placement agent fee. Palladium Capital Advisors LLC has waived
the requirement for the Company to deliver the corresponding
Warrants in connection with this Closing.

 

 

8

 

 

EIGHTH AMENDMENT AND CLOSING AGREEMENT

 

	

PURCHASERS

	

ADDITIONAL SUBSCRIPTION AMOUNT

	

WARRANTS

	

ALPHA CAPITAL ANSTALT

Lettstrasse
32

9490
Vaduz, Liechtenstein

Attn:
Konrad Ackermann, Director

Fax:
011-423-2323196

	

$83,000.00

	

33,200,000

	

PALLADIUM
CAPITAL ADVISORS, LLC

230
Park Avenue, Suite 539

New
York, NY 10169

Fax:

Taxpayer
ID#:

	

Partial
Placement Agent Fee in the amount of $2,075.00*

	

See
note below

	

TOTAL

	

$85,075.00

	

33,200,000

 

* A
Note in the amount of $2,075 as described in Section 2 of the
Securities Purchase Agreement will be issued to Palladium Capital
Advisors LLC in lieu of a corresponding cash amount of a portion of
its placement agent fee. Palladium Capital Advisors LLC has waived
the requirement for the Company to deliver the corresponding
Warrants in connection with this Closing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

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