SEC Contract Filing

Filing Date: 2018-11-13

Document Content:
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<TYPE>EX-10..1
<SEQUENCE>3
<FILENAME>exhibit10_1.htm
<DESCRIPTION>MATERIAL CONTRACTS
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Execution Version</font></div>
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EXCHANGE AGREEMENT</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">THIS
EXCHANGE AGREEMENT (&#x201C;<font style="font-weight: bold; text-decoration: underline">Agreement</font>&#x201D;)
is made and entered into this 7th day of November, 2018, by and
between Bright Mountain Media, Inc., a Florida corporation with its
principal place of business located at 6400 Congress Avenue, Suite
2050, Boca Raton, FL 33487 (&#x201C;<font style="font-weight: bold; text-decoration: underline">Bright
Mountain</font>&#x201D;), and W. Kip Speyer, an individual with his
principal place of business located at 6400 Congress Avenue, Suite
2050, Boca Raton, FL 33487 (the &#x201C;<font style="font-weight: bold; text-decoration: underline">Noteholder</font>&#x201D;).</font></div>
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RECITALS:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">WHEREAS</font>, between September 2016 and
August 2017 Bright Mountain has borrowed an aggregate of $2,035,000
from the Noteholder under a series of unsecured convertible
promissory notes, including $1,075,000 principal amount 12%
Convertible Promissory Notes (the &#x201C;<font style="font-weight: bold; text-decoration: underline">12%
Notes</font>&#x201D;), $660,000 principal amount 6% Convertible
Promissory Notes (the &#x201C;<font style="font-weight: bold; text-decoration: underline">6%
Notes</font>&#x201D;) and $300,000 principal amount 10% Convertible
Promissory Notes (the &#x201C;<font style="font-weight: bold; text-decoration: underline">10%
Notes</font>&#x201D;, and collectively with the 12% Notes and the 6%
Notes, the &#x201C;<font style="font-weight: bold; text-decoration: underline">Convertible
Notes</font>&#x201D;), all as set forth on <font style="text-decoration: underline">Schedule A</font> attached hereto and
incorporated herein by such reference.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">WHEREAS</font>, the Noteholder has agreed to
exchange the Convertible Notes for shares of the
Corporation&#x2019;s preferred stock as hereinafter set
forth.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">WHEREAS</font>, the Noteholder is an executive
officer, member of the Board of Directors and principal shareholder
of Bright Mountain.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">WHEREAS</font>, Bright Mountain and the
Noteholder desire to memorialize in writing the terms, provisions
and conditions of the foregoing exchange and certain other matters
relating thereto.</font></div>
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AGREEMENT:</font></div>
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