SEC Contract Filing

Filing Date: 2019-10-08

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>lsyn_ex101.htm
<DESCRIPTION>SETTLEMENT AGREEMENT
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Exhibit 10.1</font></div>
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SETTLEMENT AGREEMENT</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">This
SETTLEMENT AGREEMENT (this &#x201C;<font style="text-decoration: underline">Agreement</font>&#x201D;) is made and
entered into as of October 4, 2019, by and among Liberated
Syndication, Inc., a Nevada corporation (the &#x201C;<font style="text-decoration: underline">Company</font>&#x201D;), on the one
hand, and Camac Fund, LP and Mr. Eric Shahinian (collectively, the
&#x201C;<font style="text-decoration: underline">Stockholders</font>&#x201D;), on the
other hand.</font></div>
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RECITALS</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WHEREAS, as of the
date hereof, the Stockholders beneficially own 1,955,519 shares of
the issued and outstanding common stock of the Company, par value
$0.001 per share (&#x201C;<font style="text-decoration: underline">Common
Stock</font>&#x201D;);</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WHEREAS, on April
26, 2019, Camac Fund, LP (&#x201C;<font style="text-decoration: underline">Camac</font>&#x201D;), Camac Partners,
LLC, Camac Capital, LLC, Eric Shaninian, Michael Cricenti, Simeon
McMillan, Adam Pincus and Bradley M. Tirpak (collectively, the
&#x201C;<font style="text-decoration: underline">Filing
Parties</font>&#x201D;)<font style="font-weight: bold">&#xA0;</font>filed a preliminary proxy
statement on Schedule 14A regarding the solicitation of requests
(the &#x201C;<font style="text-decoration: underline">Request
Solicitation</font>&#x201D;) to call a special meeting of the
Company&#x2019;s stockholders (including any adjournments,
postponements or other delays thereof, the &#x201C;<font style="text-decoration: underline">Special Meeting</font>&#x201D;) and on
July 15, 2019, Camac delivered the requisite requests to request
the call (the &#x201C;<font style="text-decoration: underline">Request</font>&#x201D;) of the Special
Meeting in accordance with the Company&#x2019;s bylaws (the
&#x201C;<font style="text-decoration: underline">Bylaws</font>&#x201D;);</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WHEREAS, as part of
the Request Solicitation, the Filing Parties indicated their
intention to present the following matters for a vote of the
Company&#x2019;s stockholders at the Special Meeting: (i) removal of
the existing directors of the Company (the &#x201C;<font style="text-decoration: underline">Removal Proposal</font>&#x201D;); (ii)
the amendment of Article III, Section 3.02 of the Bylaws to
increase to nine the number of directors constituting the board of
directors (the &#x201C;<font style="text-decoration: underline">Board</font>&#x201D;) of the Company
(the &#x201C;<font style="text-decoration: underline">Board Size
Proposal</font>&#x201D;); (iii) the amendment of Article III,
Section 3.10 of the Bylaws to confirm that stockholders may fill
any vacancies, however caused, on the Board and provide that only
stockholders may fill vacancies caused by the removal of a director
by stockholders (the &#x201C;<font style="text-decoration: underline">Vacancy Proposal</font>&#x201D;); (iv)
the election of<font style="color: #000000; background-color: #FFFFFF">&#xA0;</font>Eric
Shahinian, Michael Cricen