SEC Contract Filing

Filing Date: 2020-02-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>nc10009016x1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<html>
 <head>
 <title></title>
 <!-- Licensed to: Broadridge Financial Soultions, Inc.
 Document created using EDGARfilings PROfile 6.5.1.0
 Copyright 1995 - 2020 Broadridge -->
 </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
 <!--PROfilePageNumberReset%Num%1%%%-->
 <div>
 <div style="text-align: right; font-weight: bold;">
 <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
 <div style="text-align: right; font-weight: bold;">Exhibit 10.2</div>
 <div><br>
 </div>
 <div style="text-align: center; font-weight: bold;">AMENDMENT NO. 1</div>
 <div style="text-align: center; font-weight: bold;">TO ASSET PURCHASE AGREEMENT</div>
 <div><br>
 </div>
 <div style="text-align: justify; text-indent: 36pt;">This Amendment No. 1 to Asset Purchase Agreement (this &#8220;<font style="font-weight: bold;">Amendment</font>&#8221;) dated February 20, 2020, by and among <font style="font-weight: bold;">RECORD TOWN, INC.</font>,
 a New York corporation, <font style="font-weight: bold;">RECORD TOWN USA LLC</font>, a Delaware limited liability company, <font style="font-weight: bold;">RECORD TOWN UTAH LLC</font>, a Utah limited liability Company, <font style="font-weight: bold;">TRANS WORLD FL LLC</font>, a Florida limited liability company, <font style="font-weight: bold;">TRANS WORLD NEW YORK, LLC</font>, a New York limited liability company, <font style="font-weight: bold;">2428392 INC.</font>, a Delaware
 corporation, <font style="font-weight: bold;">TRANS WORLD ENTERTAINMENT CORPORATION</font>, a New York corporation, and <font style="font-weight: bold;">2428391</font>&#160;<font style="font-weight: bold;">ONTARIO INC. o/a SUNRISE</font>&#160;<font style="font-weight: bold;">RECORDS</font>, an Ontario corporation, amends that certain Asset Purchase Agreement, dated as of January 23, 2020, by and between the parties to this Amendment (the &#8220;<font style="font-weight: bold;">Original Agreement</font>&#8221;).&#160;
 Capitalized terms used but not defined in this Amendment have the meanings given to such terms in the Original Agreement, and all references to Sections herein are references to Sections of the Original Agreement, unless otherwise noted.</div>
 <div><br>
 </div>
 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, in accordance with <u>Section 10.10</u> of the Original Agreement, the Parties desire to amend the Original Agreement as set forth herein.</div>
 <div><br>
 </div>
 <div style="text-align: justify; text-indent: 36pt;">NOW, THEREFORE, in consideration of the representations, warranties, covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which is
 hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:</div>
 <div><br>
 </div>
 <div style="text-align: justify;">
 <div>
 <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zca719e25f79244db9c24abfbca6814a7" cellpadding="0" cellspacing="0">

 <tr>
 <td style="width: 18pt;"><br>
 </td>
 <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
 <td style="width: auto; vertical-align: top; text-align: justify;">
 <div><u>Amendments</u>.</div>
 </td>
 </tr>

 </table>
 </div>
 </div>
 <div><br>
 </div>
 <div style="text-align: justify;">
 <div>
 <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcaf21b11389347f1918a4447f38983a3" cellpadding="0" cellspacing="0">

 <tr>
 <td style="width: 54pt;"><br>
 </td>
 <td style="width: 18pt; vertical-align: top; align: right;">(a)</td>
 <td style="width: auto; vertical-align: top; text-align: justify;">
 <div><u>Section 1.1</u> shall be amended as follows:</div>
 </td>
 </tr>

 </table>
 </div>
 </div>
 <div><br>
 </div>
 <div style="text-align: justify;">
 <div>
 <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zce2e152f824346039126dcb324c68446" cellpadding="0" cellspacing="0">

 <tr>
 <td style="width: 99pt;"><br>
 </td>
 <td style="width: 9pt; vertical-align: top; align: right;">i.</td>
 <td style="width: auto; vertical-align: top; text-align: justify;">
 <div>Replacing &#8220;$1,000,000&#8221; with &#8220;$1,300,000&#8221; in the definition of &#8220;<font style="font-weight: bold;">Escrow Amount</font>&#8221;.</div>
 </td>
 </tr>

 </table>
 </div>
 </div>
 <div><br>
 </div>
 <div style="text-align: justify;">
 <div>
 <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z520e76c678014078b33fd04c792b80d3" cellpadding="0" cellspacing="0">

 <tr>
 <td style="width: 99pt;"><br>
 </td>
 <td style="width: 45pt; vertical-align: top; align: right;">ii.</td>
 <td style="width: auto; vertical-align: top; text-align: justify;">
 <div>Adding the following definitions:</div>
 </td>
 </tr>

 </table>
 </div>
 </div>
 <div><br>
 </div>
 <div style="text-align: justify;">
 <div>
 <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4453891c28e24e359fb7b83989cb7a9a" cellpadding="0" cellspacing="0">

 <tr>
 <td style="width: 126pt;"><br>
 </td>
 <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
 <td style="width: auto; vertical-align: top; text-align: justify;">
 <div>&#8220;<font style="font-weight: bold;">Purchased Vendor Plans</font>&#8221; has the meaning set forth