SEC Contract Filing

Filing Date: 2024-11-06

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea022018801ex10-1_signing.htm
<DESCRIPTION>AMENDMENT TO BINDING TERM SHEET, DATED AS OF NOVEMBER 6, 2024, AMONG SIGNING DAY SPORTS, INC., DEAR CASHMERE GROUP HOLDING COMPANY, JAMES GIBBONS, AND NICOLAS LINK
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BINDING TERM SHEET</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Amendment
to BINDING TERM SHEET </FONT>(this &ldquo;<B>Amendment</B>&rdquo;), dated as of November 6, 2024, by and among Signing Day Sports, Inc.,
a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), Dear Cashmere Group Holding Company, a Nevada corporation (&ldquo;<B>DRCR</B>&rdquo;),
James Gibbons (&ldquo;<B>Gibbons</B>&rdquo;), and Nicolas Link (together with Gibbons, the &ldquo;<B>Sellers</B>&rdquo;, and the Sellers,
together with DRCR, the &ldquo;<B>DRCR Parties</B>&rdquo;). Each of the Company and the DRCR Parties are sometimes referred to in this
Amendment individually as a &ldquo;<B>Party</B>&rdquo; and, collectively, as the &ldquo;<B>Parties</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A. On September 18, 2024,
the Parties entered into a binding term sheet, dated as of September 18, 2024, by and among the Parties (the &ldquo;<B>Term Sheet</B>&rdquo;),&nbsp;pursuant
to which, subject to the terms and conditions set forth therein and in one or more stock purchase agreements to be entered into among
the Company, DRCR, the Sellers and any additional stockholders of DRCR, the Company will acquire from the Sellers and any such additional
stockholders of DRCR shares of DRCR common stock and preferred stock constituting between 95% and 99% of the issued and outstanding shares
of DRCR&rsquo;s share capital. In consideration for the acquired shares, the Sellers and the other stockholders of DRCR whose shares are
acquired by the Company will be issued shares of the Company&rsquo;s common stock constituting approximately 91.76% of the post-transaction
shares of the Company&rsquo;s common stock on an as-converted and fully-diluted basis, and the pre-transaction stockholders of the Company
will hold approximately 8.24% of the Company&rsquo;s post-transaction shares of common stock on an as-converted and fully-diluted basis,
subject to certain assumptions and adjustments. 19.99% of the shares that the Company will issue to the Sellers and other stockholders
of DRCR will be common stock and the remainder will be shares of Company preferred stock that will have no voting or dividend rights and
that, upon approval by the Company&rsquo;s stockholders, will automatically convert into such number of shares of Company common stock
as is applicable based upon the percentage of the post-transaction shares of Company common stock that they are entitled to on an as-converted
basis minus the shares of Company common stock issued to them by the Company upon the closing of the transaction contemplated by the Term
Sheet (the &ldquo;<B>Closing</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B. The Company and the DRCR
Parties now intend to effect the Closing on or before November 22, 2024 as the Parties continue to work to complete required regulatory
reviews and approvals, and the Parties wish to amend the Term Sheet accordingly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the mutual promises herein contained, the Parties intending to be legally bound, hereby agree as follows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.95pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">1. </FONT><FONT STYLE="font-variant: small-caps"><B><U>Amendment</U></B>.</FONT>
The section entitled &ldquo;Closing Conditions&rdquo; of the Term Sheet is hereby amended to amend and restate the last sentence thereof
as follows: &ldquo;The parties expect that the Closing will occur as soon as reasonably practicable and will use commercially reasonable
efforts to effect the Closing on or before November 22, 2024.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman,