SEC Contract Filing

Filing Date: 2023-05-24

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
10.1</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECOND
AMENDMENT TO THE PURCHASE AGREEMENT</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ENTERED
INTO ON MAY 1, 2019</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 40.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
SECOND AMENDMENT to the Purchase Agreement (as defined below) (the &ldquo;Amendment&rdquo;) is entered into as of May 18, 2023 (the &ldquo;Effective
Date&rdquo;), by and between RELIANCE GLOBAL GROUP, INC., a Florida corporation (the &ldquo;Company&rdquo;), Fortman Insurance Services,
LLC, an Ohio limited liability company (the &ldquo;Subsidiary&rdquo;), Fortman Insurance Agency, LLC, an Ohio limited liability company
(the &ldquo;Seller&rdquo;), Jonathan Fortman (&ldquo;First Holder&rdquo;), and Zachary Fortman (&ldquo;Second Holder&rdquo;, and collectively
with the First Holder, the &ldquo;Holders&rdquo;) (the Company, Subsidiary, Seller, and Holders are collectively referred to herein as
the &ldquo;Parties&rdquo;).</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BACKGROUND</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 53.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.
Subsidiary, Seller, and Holders entered into that certain purchase agreement on or around May 1, 2019, with respect to the Subsidiary&rsquo;s
acquisition of the business and certain assets of the Seller, which was amended in August of 2022 (as amended from time to time, the
&ldquo;Purchase Agreement&rdquo;); and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -17.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
The Parties desire to amend the Purchase Agreement as set forth expressly below.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW
THEREFORE, in consideration of the execution and delivery of the Amendment and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 67.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
The Parties hereby acknowledge and agree that the new total sum owed to the Seller and Holders under the Purchase Agreement as of the
Effective Date, including but not limited to the remainder of the Purchase Price (as defined in the Purchase Agreement) and Earn-Out
Payment (as defined in the Purchase Agreement), including calculated and agreed upon total interest, is equal to $616,850.00 to the First
Holder (the &ldquo;First Holder Total Agreed Upon Payment&rdquo;) and $616,850.00 to the Second Holder (the &ldquo;Second Holder Total
Agreed Upon Payment&rdquo;). In addition, the Parties have agreed to increase both the First Holder Total Agreed Upon Payment and the
Second Holder Total Agreed Upon Payment by an additional $100,000 in connection with the execution of this Amendment, resulting in a
total payment to the First Holder of $716,850.00 (the &ldquo;First Holder Total All-In Payment&rdquo;) and total payment to the Second
Holder of $716,850.00 (the &ldquo;Second Holder Total All-In Payment&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 67.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10