SEC Contract Filing

Filing Date: 2019-05-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>tv520520_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.4</B></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
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 <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-size: 10pt">Evine Live Inc.</FONT></TD>
 <TD STYLE="width: 50%; text-align: right"><FONT STYLE="font-size: 10pt">May 2, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">6740 Shady Oak Road</FONT></TD>
 <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
 <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Eden Prairie, MN 55344-3433</FONT></TD>
 <TD STYLE="text-align: justify">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlepersons:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On behalf of Invicta Watch Company of America, Inc., a Florida
corporation (&ldquo;<B>IWCA</B>&rdquo;), IWCA has read and is familiar with the terms and provisions of (a) that certain Vendor
Agreement (the &ldquo;<B>Vendor Agreement</B>&rdquo;) between Sterling Time, LLC, a New York limited liability company (&ldquo;<B>Vendor</B>&rdquo;),
and Evine Live Inc., a Minnesota corporation (&ldquo;<B>Company</B>&rdquo;), concerning the merchandising of products bearing IWCA&rsquo;s
brands and trademarks and (b) that certain Vendor Exclusivity Agreement (the &ldquo;<B>Exclusivity Agreement</B>&rdquo; and collectively
with the Vendor Agreement, the &ldquo;<B>Agreements</B>&rdquo;) between Vendor and Company concerning exclusivity regarding the
merchandising of products bearing IWCA&rsquo;s brands and trademarks.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As an inducement to Company&rsquo;s entering that certain Common
Stock and Warrant Purchase Agreement (&ldquo;<B>Purchase Agreement</B>&rdquo;) between certain owners of IWCA, other purchasers
and Company dated on or about the date hereof and as a material part of the consideration provided to Company for so doing (including
the special rights granted to IWCA&rsquo;s owners), IWCA hereby represents, warrants, and agrees as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IWCA
has heretofore entered into an agreement with Vendor granting Vendor the exclusive right to use and sublicense to Company the Trademarks
(as defined in the Vendor Agreement) (the &ldquo;<B>Trademarks</B>&rdquo;), for a period of time sufficient to meet Vendor&rsquo;s
obligations under the Vendor Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vendor
has the right and authority to grant Company the particular exclusive rights specified in the Agreements to use the Trademarks
and merchandise IWCA-branded products and has not and will not grant any other party rights to use the Trademarks as set forth
under the Agreements during the Term (as defined in the Vendor Agreement).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IWCA
will ensure that a steady stream of products bearing the IWCA brands, including first-to-market and exclusive products, is available
for Company&rsquo;s purchase throughout the term specified in the Agreements.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IWCA
will not grant any party other than Vendor or Company the right to use the Trademarks or sell the Products (as defined in the Exclusivity
Agreement) or any goods or services that are substantially similar to or directly competitive with the Products bearing the Trademarks
in TV Shopping (as defined in the Exclusivity Agreement).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IWCA
will not grant any party other than Vendor or Company the right to undertake any of the actions set forth in Section 3 of the Exclusivity
Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the foregoing, IWCA agrees to invest at least $25 million in the development and production of new products bearing the
IWCA brands for offer to Company through Vendor for the fall merchandising season of 2019.</P>

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