Document:

Exhibit 10.24

 Exhibit 10.24 
 AMENDMENT TO 
 PURCHASE AGREEMENT 
 This Amendment, dated as of December 6, 2007 (this “Amendment”), is entered into by and among TouchTunes Music Corporation, a Delaware
corporation (the “Purchaser”), TouchTunes Holding Corporation, a Delaware corporation (“Holdings”), and the parties listed on Schedule A hereto (the “Amending Sellers”), for the purpose of amending the Purchase
Agreement, dated as of September 24, 2007 (the “Agreement”), by and among White Rabbit Game Studio, LLC (“White Rabbit”), Kenneth Fedesna, Mark Loffredo, Edward Pellegrini, Edward Suchocki, William J. Federighi, Thomas M.
Lotus and Dante Federighi (collectively, the “Sellers”), Kenneth Fedesna as the Sellers’ Representative and the Purchaser. Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the
Agreement. 
 WHEREAS, the Purchaser and the Sellers have previously entered into the Agreement, pursuant to which, among other things,
(i) the Purchaser purchased 100% of the Interests in White Rabbit in exchange for cash and Purchaser Common Stock, and (ii) the Purchaser is obligated to issue, under specified circumstances, additional shares of Purchaser Common Stock to
the Sellers and is subject to other ongoing obligations, and entitled to certain ongoing rights, with respect to the Sellers; 
 WHEREAS, the
Purchaser has entered into an Agreement and Plan of Reorganization, dated as of December 5, 2007, by and among the Purchaser, TTMC Merger Sub Inc., a wholly-owned subsidiary of Holdings (“Merger Sub”), and Holdings (the “Merger
Agreement”), pursuant to which, among other things, Merger Sub will be merged with and into the Purchaser, with the Purchaser as the surviving corporation (the “Merger”), in consideration of the issuance by Holdings of shares of its
capital stock on a one-for-one basis in exchange for all of the outstanding capital stock of the Purchaser; 
 WHEREAS, at the Effective Time
(as defined in the Merger Agreement) of the Merger, each share of Purchaser Common Stock that constitutes Stock Consideration previously issued for the benefit of the Sellers under the Agreement shall be converted into a share of Common Stock,
$0.001 par value, of Holdings (“Holdings Common Stock”); and 
 WHEREAS, the execution and delivery of this Amendment by the
parties hereto is a condition to the closing of the transactions under the Merger Agreement. 
 NOW, THEREFORE, in consideration of the
mutual covenants herein, the parties hereby agree as follows: 
 1. Effective at the Effective Time, and without any further action on the
part of Holdings, Holdings shall become a party to the Agreement for the purposes set forth in this Amendment. For purposes of Section 9.2 of the Agreement, the address of Holdings shall be the same as the address of the Purchaser set forth in
such Section. 

 2. Pursuant to Section 1.2(a)(iv)(B) of the Agreement, from and after the Effective Time and subject
to the terms and conditions of the Agreement, each Seller shall be entitled to receive Holdings Common Stock in any circumstance in which such Seller would have otherwise been entitled to receive Purchaser Common Stock under the Agreement and,
thereafter, the Purchaser shall have no obligation to deliver any shares of Purchaser Common Stock to the Sellers. 
 3. From and after the
Effective Time, all of the Purchaser’s rights and obligations under the following Sections of the Agreement shall also constitute rights and obligations of Holdings: Sections 1.2 (Purchase Price; Manner of Payment), with respect to the
Additional Cash Consideration and the Additional Stock Consideration; 1.7 (Additional Consideration); 1.10 (Right to Put Stock Consideration), with respect to the exercise of the Put; 1.11 (Cancellation of Shares and Termination of Payment
Obligation); 1.12 (Set-off Right); Section 1.14 (Sale of Purchaser or the White Rabbit Division); Article 8 (Indemnification) and Section 1.15(b) (Dispute Resolution). 
 4. From and after the Effective Time, Section 5.14 (Delivery of Financial Statements) shall be amended to replace all references to the term
“the Purchaser” with “Holdings.” From and after the Effective Time, all financial statements required to be delivered pursuant to Section 5.14 shall be the consolidated financial statements of Holdings and its subsidiaries,
including the Purchaser. 
 5. Section 9.4 (Assignment) of the Agreement is hereby amended to delete the word “controlled” in
the fifth line of such section. 
 6. Section 9.7 (Amendment and Waiver) of the Agreement is hereby amended to read in full as follows:

 “Section 9.7. Amendment and Waiver. This Agreement may not be amended except by an instrument in writing signed on behalf
of the Purchaser and Sellers holding two-thirds of the Interests (or, in the case of any amendment adopted after the Closing, Sellers who held two-thirds of the Interests prior to the Closing), provided that no amendment approved pursuant to
the preceding clause may apply to less than all of the Sellers, without the approval of each Seller whose interest would be materially and adversely affected. No waiver of compliance with any term or provision of this Agreement shall be effective
except by an instrument in writing. Subject to the foregoing, by an instrument in writing (i) the Purchaser may waive compliance by any Seller with any term or provision of this Agreement that such Seller was or is obligated to comply with or
perform and (ii) Sellers holding two-thirds of the Interests (or, in the case of any waiver after the Closing, Sellers who held two-thirds of the Interests prior to the Closing) may waive compliance by the Purchaser with any term or provision
of this 

  

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Agreement that the Purchaser was or is obligated to comply with or perform, provided that no waiver approved pursuant to the preceding clause may
apply to less than all of the Sellers, without the approval of each Seller whose interest would be materially and adversely affected.” 
 7. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns and shall be governed by and construed in accordance with the laws of the State of Delaware.

 8. This Amendment may be executed in one or more counterparts (including by facsimile), each of which shall be deemed to be an original,
but all of which taken together shall constitute one and the same instrument. 
 9. Except as specifically amended by this Amendment, the
Agreement shall remain unchanged and in full force and effect. 
 [The remainder of this page has been intentionally left blank.]

  

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

			
	TOUCHTUNES MUSIC CORPORATION
		
	By:	 	  

	Name:	 	Art Matin
	Title:	 	President, Chief Executive Officer

  

			
	TOUCHTUNES HOLDING CORPORATION
		
	By:	 	  

	Name:	 	Art Matin
	Title:	 	President, Chief Executive Officer

 Signature Page to Amendment to Purchase Agreement 

	
	KENNETH FEDESNA
	
	  

	
	MARK LOFFREDO
	
	  

	
	EDWARD PELLEGRINI
	
	  

	
	EDWARD SUCHOCKI
	
	  

	
	WILLIAM J. FEDERIGHI
	
	  

	
	THOMAS M. LOTUS
	
	  

	
	DANTE FEDERIGHI
	
	  

 Signature Page to Amendment to Purchase Agreement 

 SCHEDULE A 
 AMENDING SELLERS 
  

				
	 Name and Address of Member
	  	Membership
Interest Percentage
of the Company
(%)	 
	 Edward Pellegrini
 1303 N. LaGuna Court,
 Palatine, Illinois 60067
	  	32.00	%
		
	 Kenneth Fedesna
 4 Oneida Lane
 Hawthorn Woods, Illinois 60047
	  	21.00	 
		
	 Mark Loffredo
 31169 Prairie Ridge Road
 Green Oaks, Illinois 60048
	  	12.50	 
		
	 Edward Suchocki
 614 Hapsfield Lane
 Buffalo Grove, Illinois 60089
	  	12.50	 
		
	 William Federighi
 1001 S. Broadway
 Park Ridge, Illinois 60068
	  	5.50	 
		
	 Dante Federighi
 201 W. Grand Avenue, Apt 901
 Chicago, Illinois 60610
	  	11.00	 
		
	 Thomas Lotus
 9647 Los Palos Lane
 Palos Hills, Illinois 60465
	  	5.50	 
		  	 	 
	 Total
	  	100.00	%Exhibit 10.25

 Exhibit 10.25 
 AMENDMENT NO. 2 TO 
 PURCHASE AGREEMENT 
 This Amendment, dated as of September 8, 2008 (this “Amendment”), is entered into by and among TouchTunes Music Corporation, a Delaware
corporation (the “Purchaser”), TouchTunes Holding Corporation, a Delaware corporation (“Holdings”), and the parties listed on Schedule A hereto (the “Amending Sellers”), for the purpose of amending the Purchase
Agreement, dated as of September 24, 2007, as amended on December 6, 2007 (the “Agreement”), by and among the Purchaser, White Rabbit Game Studio, LLC, Kenneth Fedesna, Mark Loffredo, Edward Pellegrini, Edward Suchocki, William
J. Federighi, Thomas M. Lotus and Dante Federighi (collectively, the “Sellers”), and Kenneth Fedesna as the Sellers’ Representative. Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in
the Agreement. 
 WHEREAS, the Purchaser, Holdings and the Sellers wish to amend the Agreement in the manner set forth below; 
 NOW, THEREFORE, in consideration of the mutual covenants herein, the parties hereby agree as follows: 
 1. Performance Milestones. The parties hereby agree as follows with respect to the Performance Milestones referred to in Section 1.7(a) of the
Agreement: (a) the Performance Milestones set forth on Exhibit F to the Agreement shall be deemed to be satisfied as of September 10, 2008; (b) 500,000 shares of the Additional Stock Consideration will be released from escrow
on September 10, 2008, and (c) payment by wire transfer of $750,000 to the Sellers’ Designated Account shall be made by the Purchaser on February 8, 2009. 
 2. First Anniversary Payment. Section 1 .2(b)(ii) of the Agreement is hereby amended to replace the phrase “subject to Section 1.12
below, $1,000,000 payable on the earlier of (A) the first anniversary of Closing or (B) consummation of a Public Offering (as defined below) by the Purchaser (the “First Anniversary Payment”)...” with the
following: 
 “subject to Section 1.12 below from the date hereof through and including September 24, 2008 but not thereafter,
$1,000,000, payable on the earlier of (A) March 24, 2009 or (B) consummation of a Public Offering (as defined below) by the Purchaser (the “First Anniversary Payment”)...”  
 Purchaser hereby confirms its obligation, under Section 1.2(a)(iii) of the Agreement, to release an aggregate of 500,000 shares of Purchaser Common Stock, referred
to as the “Base Stock Consideration” to the Sellers on the first anniversary of the Closing (which is September 24, 2008). 

 3. Right to Put Stock Consideration. 
 (a) Section 1.10(a) is hereby amended to replace the phrase “During the period from October 1, 2009 through December 31, 2009 (the
“Put Period”)...” with the following: 
 “During the period from April 1, 2010 through June 30, 2010
(the “Put Period”)...” 
 (b) Section 1.10(b) is hereby amended to substitute the date “June 30,
2010” for “December 31, 2009” in the first sentence of such section. 
 (c) Section 1.10(c) is hereby amended to
substitute the date “April 1, 2010” for “October 1, 2009” in clause (ii) of such section and to substitute the date “June 30, 2010” for “December 31, 2009” in clause (iii) of such section.

 4. Cancellation of Stock Consideration. Section 1.11 of the Agreement is hereby amended to replace the phrase “All Stock
Consideration held in escrow for the Sellers pursuant to this Article 1 shall be cancelled by the Purchaser to the extent not earned by the Sellers under Section 1.7 within 30 months after the first commercial shipment of the Units...”
with the following: 
 “All Stock Consideration held in escrow for the Sellers pursuant to this Article 1 shall be cancelled by the
Purchaser to the extent not earned by the Sellers under Section 1.7 within 36 months after the first commercial shipment of the Units...”. 
 5. Sellers’ Right of Repurchase. 
 (a) Clause (i) of the first sentence of
Section 1.13(a) of the Agreement is hereby amended to replace such clause in its entirety with the following: 
 “(i) the Purchaser
defaults on the payment to the Sellers of either the First Anniversary Payment or the payment relating to satisfaction of the Performance Milestones pursuant to Section 1.7(a), in either case at the time such payment is due in accordance with
this Amendment,”. 
 (b) Clause (ii) of the first sentence of Section 1.13(c) of the Agreement is hereby amended to replace
such clause in its entirety with the phrase “(ii) April 24, 2009.” 
  

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 (c) Section 1.1 3(d)(i) of the Agreement is hereby amended to replace such section in its entirety
with the following: 
 “(d) (i) Repurchase Price. The aggregate price to be paid by the Sellers to repurchase the White Rabbit
Assets shall be an amount equal to the sum of (A) the Repurchase Price (as defined below), (B) the surrender for cancellation by the Purchaser of all Stock Consideration delivered to the Sellers pursuant to this Agreement, and (C) the
release and return to the Purchaser of any amounts paid into escrow pursuant to clause (ii) of this Section 1.13(d) below. The Repurchase Price shall be determined according to the following formula: 
 Repurchase Price = (0.5*(x + y – 1,750,000)) + S – L 
 where 
 x = the Cash Consideration paid by the Purchaser to the Sellers prior to the Initial Seller Notice

 y = $4,373,958 plus the aggregate direct manufacturing cost of all Units in inventory and all Unit components comprising work-in-process,
determined on the date of the Repurchase Option Closing 
 S = any severance, employee benefit or other costs, incurred directly or
indirectly, in connection with the termination or transfer to the transferee of the White Rabbit Assets and the White Rabbit Liabilities, of any employees of the Purchaser who worked for the White Rabbit Division (other than any who were employees
of the Purchaser prior to the Closing or other employees of Purchaser transferred from Purchaser to the White Rabbit Division without Sellers’ consent), who cease to be employees of the Purchaser as a result of or otherwise relating to the
exercise of the Repurchase Option by the Sellers (whether or not such employees become employees of the transferee); and 
 L = the White
Rabbit Liabilities; 
 provided, that in no event shall the Repurchase Price be less than zero. 
 For purposes of the Preliminary Repurchase Price Statement, the Preliminary Repurchase Price shall be calculated, in accordance with the foregoing
formula, as of the end of the calendar month preceding the receipt of the Initial Sellers Notice...” 
 6. This Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 
 7. This Amendment may
be executed in one or more counterparts (including by facsimile), each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same instrument. 
  

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 8. Except as specifically amended by this Amendment, the Agreement shall remain unchanged and in full
force and effect. 
 9. This Amendment shall be effective upon the execution hereof by the Purchaser, Holdings and Sellers who held
two-thirds of the Interests prior to the Closing. 
  

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

			
	TOUCHTUNES MUSIC CORPORATION
		
	By:	 	 /s/ Phil Livingston

	Name:	 	Phil Livingston
	Title:	 	Vice President and Chief Financial Officer
	
	TOUCHTUNES HOLDING CORPORATION
		
	By:	 	 /s/ Phil Livingston

	Name:	 	Phil Livingston
	Title:	 	Vice President and Chief Financial Officer

 Signature Page to Amendment to Purchase Agreement 

	
	KENNETH FEDESNA
	
	 /S/ KENNETH FEDESNA

	
	MARK LOFFREDO
	
	 /S/ MARK LOFFREDO

	
	EDWARD PELLEGRINI
	
	 /S/ EDWARD PELLEGRINI

	
	EDWARD SUCHOCKI
	
	  

	
	WILLIAM J. FEDERIGHI
	
	 /S/ WILLIAM J. FEDERIGHI

	
	THOMAS M. LOTUS
	
	 /S/ THOMAS M. LOTUS

	
	DANTE FEDERIGHI
	
	 /S/ DANTE FEDERIGHI

 Signature Page to Amendment to Purchase Agreement 

 SCHEDULE A 
 AMENDING SELLERS 
  

				
	 Name and Address of Member
	  	Membership
Interest Percentage
of the Company
(%)	 
	 Edward Pellegrini
 1303 N. LaGuna Court,
 Palatine, Illinois 60067
	  	32.00	%
		
	 Kenneth Fedesna
 4 Oneida Lane
 Hawthorn Woods, Illinois 60047
	  	21.00	 
		
	 Mark Loffredo
 31169 Prairie Ridge Road
 Green Oaks, Illinois 60048
	  	12.50	 
		
	 Edward Suchocki
 614 Hapsfield Lane
 Buffalo Grove, Illinois 60089
	  	12.50	 
		
	 William Federighi
 1001 S. Broadway
 Park Ridge, Illinois 60068
	  	5.50	 
		
	 Dante Federighi
 201 W. Grand Avenue, Apt 901
 Chicago, Illinois 60610
	  	11.00	 
		
	 Thomas Lotus
 9647 Los Palos Lane
 Palos Hills, Illinois 60465
	  	5.50	 
		  	 	 
	 Total
	  	100.00	%

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