SEC Contract Filing

Filing Date: 2015-04-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ex10-1.htm
<DESCRIPTION>FORM OF AMENDMENT NO. 1 TO SECURITIES PURCHASE AGREEMENT, DATED MARCH 27, 2015.
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold">Exhibit 10.1<br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AMENDMENT NO. 1 TO THE SECURITIES PURCHASE AGREEMENT</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This Amendment No.1 (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Amendment</font>&#8221;) to the Securities Purchase Agreement, dated February 20, 2015 (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Purchase Agreement</font>&#8221;), is entered into as of March 27, 2015 by and between True Drinks Holdings, Inc., a Nevada corporation (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Company</font>&#8221;), and each of the parties (individually, a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Purchaser</font>&#8221; and collectively the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Purchasers</font>&#8221;) identified in the signature pages hereto. Unless otherwise specified herein, all capitalized terms set forth in this Amendment shall have the meanings as set forth in the Purchase Agreement.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">RECITALS</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, on February 20, 2015, the Company and the Purchasers entered into the Purchase Agreement, wherein the Purchasers agreed to purchase an aggregate total of 43,000 shares of Series C Convertible Preferred Stock (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Series C Preferred</font>&#8221;) for $100 per share over the course of three Investment Dates, and, as additional consideration, the Company agreed to issue to the Purchasers Series C Warrants to purchase that number of shares of the Company&#8217;s common stock, par value $0.001 per share (&#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Common Stock</font>&#8221;), equal to 35% of the shares of Common Stock issuable upon conversion of each Purchasers&#8217; shares of Series C Preferred (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Series C Offering</font>&#8221;);</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, Section 4(c) of the Purchase Agreement contains certain covenants restricting the Company&#8217;s ability to issue certain of the Company&#8217;s equity securities, referred to in the Purchase Agreement as a Subsequent Placement, with the exception of the issuance of Excluded Securities;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, Section 4(f)(iii) of the Purchase Agreement prohibits the Company from using proceeds from the Series C Offering to repay any of the Company&#8217;s outstanding promissory notes;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, Purchaser LB 2, LLC (&#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">LB2</font>&#8221;) has expressed an interest in purchasing an additional 27,000 shares of Series C Preferred on the same terms as set forth in the Purchase Agreement, in order to provide the Company with sufficient capital to satisfy approximately $2.7 million of the Company&#8217;s $3.8 million in outstanding secured promissory notes (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Notes</font>&#8221;) (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Note Payments</font>&#8221;);</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>, the Company desires to allow the holders of any Notes that remain outstandi