SEC Contract Filing

Filing Date: 2024-12-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ex_753197.htm
<DESCRIPTION>EXHIBIT 10.1
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<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>AMENDMENT AND AGREEMENT </b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">This Amendment and Agreement (this &#8220;<u>Agreement</u>&#8221;), dated as of November 25, 2024, is by and among Wrap Technologies, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), and each investor listed on the signature page attached hereto (collectively, the &#8220;<u>Investors</u>&#8221;).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">WITNESSETH</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">WHEREAS, the Company and the Investors are party to that certain Securities Purchase Agreement, dated as of June 29, 2023 (the &#8220;<u>Purchase Agreement</u>&#8221;), pursuant to which the Company issued to the Investors shares of the Company&#8217;s Series A Convertible Preferred Stock, par value $0.0001 per share (the &#8220;<u>Preferred Stock</u>&#8221;), the terms of which are set forth in the Certificate of Designations (as amended, the &#8220;<u>Certificate of Designations</u>&#8221;), and warrants (the &#8220;<u>Warrant</u>,&#8221; and, together with the Purchase Agreement and the Certificate of Designations, the &#8220;<u>Transaction Documents</u>&#8221;) to purchase shares of the Company&#8217;s common stock, par value $0.0001 per share;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">WHEREAS, pursuant to Section 30(b) of the Certificate of Designations, the Certificate of Designations or any provision thereof may be amended by written consent without a meeting in accordance with the DGCL, of the Required Holders (as defined in the Certificate of Designations), voting separately as a single class, provided, that such holders include Iroquois Master Fund Ltd.;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">WHEREAS, the undersigned constitute the Required Holders pursuant to the Certificate of Designations;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">WHEREAS, the Company and the Investors desire to amend certain provisions of the Certificate of Designations; and</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">WHEREAS, the Company and the Investors have agreed that all payment amounts that have accrued and are unpaid as of the date hereof pursuant to the Certificate of Designations and that certain Amendment and Agreement, dated as of August 19, 2024 (the &#8220;<u>August Amendment Agreement</u>&#8221;), by and among the Company and each Investor signatory thereto, shall be satisfied by delivery of an aggregate of 856,109 shares of Common Stock on or prior to November 25, 2024, with each Investor entitled to receive the number of shares of Common Stock specified below such Investor&#8217;s name on its respective signature page hereto.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">NOW, THEREFORE, in consideration of the premises and mutual covenants and obligations hereinafter set forth, the parties hereto, intending legally to be bound, hereby agree as follows:</p>

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 <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">1.</p>
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 <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;"><u>Definitions</u>. Capitalized terms used herein but not otherwise defined herein shall have the respective meanings given su