UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): December 5, 2017

 

LIVEXLIVE MEDIA, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   333-167219   98-0657263
(State or other jurisdiction 
of incorporation)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

269 South Beverly Drive, Suite 1450

Beverly Hills, California 90212

(Address of principal executive offices) (Zip Code)

 

(310) 601-2500

(Registrant’s telephone number, including area code)

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company     ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.      ☐

 

 

 

     

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On December 5, 2017 and December 15, 2017, LiveXLive Media, Inc. (the “Company”) entered into Amendment No. 3 (“Amendment No. 3”) and Amendment No. 4 (“Amendment No. 4”), respectively,to the Agreement and Plan of Merger, dated as of August 25, 2017 (as amended, the “Merger Agreement”), as amended by Amendment No. 1, dated as of September 28, 2017 (“Amendment No. 1”), and Amendment No. 2, dated as of October 30, 2017 (“Amendment No. 2”), with LXL Music Acquisition Corp., a Delaware corporation and wholly owned subsidiary of the Company (the “Merger Sub”), Slacker, Inc., a Delaware corporation (“Slacker”), and Fortis Advisors LLC, in its capacity as the substitute stockholders’ agent in connection with the transactions contemplated by the Merger Agreement. Pursuant to the Merger Agreement, at the closing of the transactions contemplated therein (the “Closing”), the Merger Sub will merge with and into Slacker (the “Merger”), and following the Merger, the separate corporate existence of the Merger Sub will cease and Slacker will continue as the surviving corporation of the Merger and a wholly owned subsidiary of the Company.

 

Amendment No. 3

 

Pursuant to Amendment No. 3, the parties agreed to decrease and limit the cash portion of the merger consideration payable by the Company (after giving effect to the purchase price adjustments and repayment by the Company of any Incremental Stockholder Loan (as defined in the Merger Agreement) incurred by Slacker prior to the closing of the Merger) to $2,500,000, with the remaining portion of the merger consideration to be paid in shares of the Company’s common stock. As a result, the total number of shares of the Company’s common stock issuable by the Company as the stock portion of the merger consideration (the “Stock Merger Consideration”) will be an amount equal to the quotient that results from dividing (a) (i) the Closing Purchase Price (as defined below) minus (ii) 2,500,000 (closing cash target), by (b) $4.00, the offering price (the “Offering Price”) at which the Company’s underwritten public offering of its shares of common stock (the “Public Offering”), registered on a Registration Statement on Form S-1 (the “Registration Statement”) filed with the Securities and Exchange Commission (the “SEC”), priced on December 22, 2017. Closing Purchase Price is defined in the Merger Agreement as an amount equal to (i) $50,000,000 minus (ii) the Convertible Notes Payoff Amount (as defined in the Agreement), minus (iii) the Estimated Closing Indebtedness (as defined in the Agreement), plus (iv) the amount, if any, by which the Estimated Closing Net Working Capital exceeds the Target Working Capital (each as defined in the Agreement), minus (v) the absolute value of the amount, if any, by which the Target Working Capital exceeds the Net Working Capital (as defined in the Agreement), as such amount may be adjusted by mutual agreement of the Company and Slacker prior to the Closing pursuant to the Merger Agreement, minus (vi) any Transaction Expenses (as defined in the Agreement) as of the Closing (other than Transaction Expenses not exceeding $10,000 directly related to any Incremental Bank Loan or Incremental Stockholder Loan, each as defined in the Agreement) not already reflected in clauses (iii) and (iv), plus (vii) an amount equal to the Incremental Stockholder Loan actually funded by the Participating Stockholders. The foregoing is anticipated to result in an increase in the Stock Merger Consideration up to approximately $31,500,000 of shares of the Company’s common stock (excluding approximately $5,000,000 of shares of the Company’s common stock to be issued to payoff Slacker’s Convertible Promissory Notes (as defined in the Merger Agreement) based on the Offering Price).

 

In addition, pursuant to Amendment No. 3, the parties agreed, among other things, to:

 

  provide that the amount of the Cash Merger Consideration payable to Slacker’s stockholders shall be decreased by the amount of any Merger transaction expenses paid at Closing pursuant to the Merger Agreement;

 

  increase the maximum number of additional shares of the Company’s common stock issuable to certain stockholders of Slacker that provide the Incremental Stockholder Loan to Slacker prior to the closing of the Merger for the purpose of funding Slacker’s working capital, to an amount equal to $1,000,000 divided by the Offering Price (rounded down to the nearest whole share);
     
  extend the date by which the Public Offering must be priced to a date which is five business days after the day upon which the Company receives notice from the SEC that the SEC has no further comments to the Registration Statement filed for the Public Offering;

 

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  extend the date by which the Closing must be consummated to December 31, 2017; and

 

  amend certain definitions used in the Merger Agreement.

 

Amendment No. 4

 

Pursuant to Amendment No. 4, the parties agreed, among other things, to:

 

  extend the lock-up period applicable to the stockholders of Slacker receiving shares of the Company’s common stock as Stock Merger Consideration to 540 days;
     
  extend the date by which the Public Offering must be priced to a date which is five business days after the day upon which the following conditions are satisfied (i) the Company receives notice from the SEC that the SEC has no further comments to the Registration Statement filed for the Public Offering and (ii) all applicable blue sky registration, qualification and/or approval requirements are satisfied with respect to the Public Offering;

 

  amend certain definitions used in the Merger Agreement.

 

There can be no assurance that the Merger or the Public Offering will be consummated or as to the date by which the Merger or the Public Offering may be consummated, if at all.

 

The foregoing description of Amendment No. 3and Amendment No. 4 is a summary only, does not purport to set forth the complete terms of Amendment No. 3and Amendment No. 4 and is qualified in its entirety by reference to Amendment No. 3 and Amendment No. 4, filed as Exhibit 2.4and Exhibit 2.5, respectively, to this Current Report on Form 8-K and hereby incorporated by reference. For a detailed discussion of the Merger and the terms of the Merger Agreement, see the Company’s Current Report on Form 8-K, filed with the SEC on August 31, 2017. For a detailed discussion of Amendment No. 1, see the Company’s Current Report on Form 8-K, filed with the SEC on October 5, 2017.For a detailed discussion of Amendment No. 2, see the Company’s Current Report on Form 8-K, filed with the SEC on November 3, 2017.

 

Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits:

 

Exhibit No.   Description
2.1   Agreement and Plan of Merger, dated as of August 25, 2017, by and among LiveXLive Media, Inc., LXL Music Acquisition Corp., Slacker, Inc. and Columbia Capital Equity Partners V (QP), L.P., in its capacity as the Stockholders’ Agent (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K, filed with the SEC on August 31, 2017).
2.2   Amendment No. 1 to Merger Agreement, dated as of September 28, 2017, by and among LiveXLive Media, Inc., LXL Music Acquisition Corp., Slacker, Inc. and Columbia Capital Equity Partners V (QP), L.P., in its capacity as the Stockholders’ Agent (incorporated by reference to Exhibit 2.2 to the Company’s Current Report on Form 8-K, filed with the SEC on October 5, 2017).
2.3   Amendment No. 2 to Merger Agreement, dated as of October 30, 2017, by and among LiveXLive Media, Inc., LXL Music Acquisition Corp., Slacker, Inc. and Fortis Advisors LLC, in its capacity as the substitute Stockholders’ Agent (incorporated by reference to Exhibit 2.3 to the Company’s Current Report on Form 8-K, filed with the SEC on November 3, 2017).
2.4*   Amendment No. 3 to Merger Agreement, dated as of December 5, 2017, by and among LiveXLive Media, Inc., LXL Music Acquisition Corp., Slacker, Inc. and Fortis Advisors LLC, in its capacity as the substitute Stockholders’ Agent.
2.5   Amendment No. 4 to Merger Agreement, dated as of December 15, 2017, by and among LiveXLive Media, Inc., LXL Music Acquisition Corp., Slacker, Inc. and Fortis Advisors LLC, in its capacity as the substitute Stockholders’ Agent (incorporated by reference to Exhibit 2.7 to the Company’s Registration Statement on Form S-1/A, Amendment No. 6, filed with the SEC on December 21, 2017).

 

* Filed herewith.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

LIVEXLIVE MEDIA, INC.
   
  /s/ Robert S. Ellin
  Name: Robert S. Ellin
 Dated: December 26, 2017 Title: Chief Executive Officer and
Chairman of the Board of Directors

   

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Exhibit 2.4

 

AMENDMENT NO. 3 TO MERGER AGREEMENT

 

This AMENDMENT NO. 3 TO MERGER AGREEMENT (this “ Amendment ”), dated as of December 5, 2017, is entered into by and among LiveXLive Media, Inc., a Delaware corporation (“ Buyer ”), LXL Music Acquisition Corp., a Delaware corporation and wholly owned subsidiary of Buyer (“ Merger Sub ”), Slacker, Inc., a Delaware corporation (the “ Company ”), and Fortis Advisors LLC, in its capacity as the substitute stockholders’ agent in connection with the transactions contemplated by the Merger Agreement (as defined below) (the “ Stockholders’ Agent ”). Buyer, Merger Sub, the Company and the Stockholders’ Agent shall collectively be referred to herein as the “ Parties ”. Capitalized terms used in this Amendment but not defined herein have the meanings ascribed to them in the Merger Agreement.

 

WHEREAS, the Parties have previously entered into that certain Agreement and Plan of Merger dated as of August 25, 2017, as amended by that certain Amendment No. 1 to Merger Agreement dated as of September 26, 2017 and that certain Amendment No. 2 to Merger Agreement dated as of October 30, 2017 (the “ Merger Agreement ”);

 

WHEREAS, the Parties now desire to amend the Merger Agreement as set forth herein; and

 

WHEREAS, pursuant to Section 10.7 of the Merger Agreement, the Merger Agreement may be amended by the Parties pursuant to a written instrument duly executed by each of the Parties.

 

NOW, THEREFORE, in consideration of the representations, warranties, covenants, agreements and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound hereby, agree as follows:

 

Section 1. Amendments to the Merger Agreement .

 

(a)       The following defined terms in Section 1.1 of the Merger Agreement are hereby deleted in their entirety: “Closing Cash Consideration Target,” “Indemnity Escrow Amount” and “Purchase Price Adjustment Escrow Amount.”

 

(b)       The following defined terms in Section 1.1 of the Merger Agreement are hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

Cash Merger Consideration” means the portion of Merger Consideration payable to Company Stockholders pursuant to the terms of this Agreement in cash, but in no event shall such cash amount exceed the an amount equal to (a) Closing Cash Consideration Target minus (b) the amount of any Transaction Expenses paid at the Closing pursuant to Section 5.13 .

  

Escrow Amount ” means the sum of the Purchase Price Adjustment Escrow Amount Shares , the Indemnity Escrow Amount Shares , the Stockholders’ Agent Expense Amount and the Convertible Notes Payoff Amount Shares .

 

Outside Pricing Date ” means November 10, 2017 that date which is five (5) Business Days after the day upon which Buyer receives notice from the SEC that the SEC has no further comments to Buyer’s registration statement on Form S-1 filed with the SEC in connection with the Buyer Public Offering .

 

Stock Merger Consideration ” means the portion of Merger Consideration payable to Company Stockholders pursuant to the terms of this Agreement in an aggregate number of Buyer Common Shares equal to the sum of (a) the quotient that results from dividing (a) the Closing Purchase Price minus the Closing Cash Target by (b) the Buyer Public Equity Offering Price, rounded down to the nearest whole share (x)(i) $20,000,000 plus (ii) the amount by which the Incremental Stockholder Loan exceeds $500,000 by (y)the Buyer Public Offering Price (rounded down to the nearest whole share) plus (b)(i) if the Cash Merger Consideration calculated based on the foregoing clause (a) as the sole Stock Merger Consideration (without giving effect to the Closing Cash Consideration Target limitation) would exceed the Closing Cash Consideration Target, the quotient that results from dividing (A) the amount of such excess by (B) the Buyer Public Offering Price (rounded down to the nearest whole share), or (ii) otherwise, zero (0) .

 

 

 

(c)       Section 1.1 of the Merger Agreement is hereby amended by inserting the following in alphabetical order:

 

Closing Cash Target ” means amount equal to $2,500,000.

 

Convertible Notes Payoff Shares ” has the meaning ascribed to it in Section 5.12 .

 

Escrowed Merger Shares ” means the Indemnity Escrow Shares and Purchase Price Adjustment Escrow Shares.

 

Indemnity Escrow Shares ” means an aggregate number of Buyer Common Shares equal to the quotient that results from dividing (a) $500,000 by (b) the Buyer Public Equity Offering Price (rounded down to the nearest whole share).

 

Purchase Price Adjustment Escrow Shares ” means an aggregate number of Buyer Common Shares equal to the quotient that results from dividing (a) $500,000 by (b) the Buyer Public Equity Offering Price (rounded down to the nearest whole share).

 

(d)       All references to “Indemnity Escrow Amount” in the Merger Agreement are hereby replaced with “Indemnity Escrow Shares.”

 

(e)       All references to “Purchase Price Adjustment Escrow Amount” in the Merger Agreement are hereby replaced with “Purchase Price Adjustment Escrow Shares.”

 

(f)       Section 2.11(a)(xv) of the Merger Agreement is hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

each holder of Convertible Promissory Notes and , the portion of the Convertible Notes Payoff Amount due and payable to such holder at the Closing , and the number of Buyer Common Shares issuable to such holder at the Closing in respect thereof pursuant to Section 5.12 .

 

(g)       Section 2.12(c)(iv) of the Merger Agreement is hereby be deleted in its entirety.

 

(h)       Section 2.13(b) of the Merger Agreement is hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

Delivery of Cash Merger Consideration . At or prior to the Effective Time, Buyer shall deliver, or cause to be delivered, to the Paying Agent by wire transfer in immediately available funds, an amount sufficient to permit the payment of the Cash Merger Consideration for the benefit from and after the Effective Time of the Persons that are Participating Stockholders immediately prior to the Effective Time less the Indemnity Escrow Amount, the Price Purchase Adjustment Escrow Amount, and the Stockholder’s Agent Expense Amount (which amounts together with the Convertible Notes Payoff Amount, amount shall be transferred to the Escrow Agent by Buyer pursuant to Section 2.12(c) ).

 

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(i)       Section 2.13(e)(ii) of the Merger Agreement is hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

Buyer shall, or shall cause the Paying Agent to, no later than the later of the Closing Date or three (3) Business Days after receipt of a Certificate, together with a Letter of Transmittal duly completed and validly executed in accordance with the instructions thereto, and any other customary documents that the Exchange Agent may reasonably require in connection therewith, (A) pay to the holder of such Certificate the applicable portion of Cash Merger Consideration in accordance with Sections 2.8 less such holder’s Pro Rata Portion of each of the Indemnity Escrow Amount, the Price Purchase Adjustment Escrow Amount and the Stockholder’s Agent Expense Amount, and (B) issue to the holder of such Certificate the applicable portion of the Stock Merger Consideration in accordance with to Section 2.8 less such holder’s Pro Rata Portion of each of the Indemnity Escrow Shares, the Purchase Price Adjustment Escrow Shares , in each case, with respect to such Certificate so surrendered and the Certificate shall forthwith be cancelled.

 

(j)       Section 2.16(d) of the Merger Agreement is hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

(i)       If the Closing Purchase Price is greater than the Final Purchase Price (such difference, the “ Post-Closing Adjustment Shortfall Amount ”), then Buyer and the Stockholders’ Agent shall, within three (3) Business Days of the determination of the Final Purchase Price in accordance with this Section 2.16 , jointly instruct the Escrow Agent to pay the Post-Closing Adjustment Shortfall Amount to Buyer out of from the Purchase Price Adjustment Escrow Fund by wire transfer in immediately available funds in an aggregate number of Buyer Common Shares equal to the quotient that results from dividing (A) Post-Closing Adjustment Shortfall Amount by (B) the Buyer Equity Offering Price (rounded down to the nearest whole share) . If the amount of funds in the Purchase Price Adjustment Escrow Fund exceeds the Post-Closing Adjustment Shortfall Amount, then Buyer and the Stockholders’ Agent shall also jointly instruct the Escrow Agent to, after paying the Post-Closing Adjustment Shortfall Amount to Buyer in accordance with the preceding sentence , pay distribute to each Participating Stockholder its Pro Rata Portion of the remaining amount of funds Buyer Common Shares in the Purchase Price Adjustment Escrow Fund (rounded down to the nearest whole share) . If the Purchase Price Adjustment Escrow Fund is insufficient to cover the Post-Closing Adjustment Shortfall Amount, then Buyer and the Stockholders’ Agent shall jointly instruct the Escrow Agent to (i) distribute the entire Purchase Price Adjustment Escrow Fund to Buyer as provided above and (ii) pay an amount by which the Post-Closing Adjustment Shortfall Amount exceeds the amount in the Purchase Price Adjustment Escrow Fund to Buyer out of from the Indemnity Escrow Fund (up to the amount in the Indemnity Escrow Fund) by wire transfer in immediately available funds in an aggregate number of Buyer Common Shares equal to the quotient that results from dividing (A) the amount by which the Post-Closing Adjustment Shortfall Amount exceeds the amount in the Purchase Price Adjustment Escrow Fund by (B) the Buyer Equity Offering Price (rounded down to the nearest whole share) . Buyer and the Company agree that the Purchase Price Adjustment Escrow Fund and the Indemnity Escrow Fund shall not be the sole source of Buyer’s right to the Post-Closing Adjustment Shortfall Amount, and that the Participating Stockholders shall be severally and not jointly liable for their respective Pro Rata Portion of any shortfall after application of the foregoing.

 

(ii)       If the Final Purchase Price is greater than the Closing Purchase Price (such excess amount, the “ Post-Closing Adjustment Excess Amount ”), then the Company Stockholders shall be entitled to receive such excess amount, and Buyer shall, within five (5) Business Days of the determination of the Final Purchase Price in accordance with this Section 2.16 , pay to the Paying Agent an amount equal to the Post-Closing Adjustment Excess Amount by issuing, or causing the Paying Agent to issue, an aggregate number of Buyer Common Shares equal to the quotient that results from dividing (A) the Post-Closing Adjustment Excess Amount by (B) the Buyer Equity Offering Price (rounded down to the nearest whole share), which shares shall be distributed issued to the Company Stockholders as Cash Stock Merger Consideration in accordance with Section 2.8 . Concurrently with the payment of the Post-Closing Adjustment Excess Amount in accordance with the preceding sentence , Buyer and the Stockholders’ Agent shall also jointly instruct the Escrow Agent to pay distribute to each Participating Stockholder its Pro Rata Portion of the remaining amount of funds Buyer Common Shares in the Purchase Price Adjustment Escrow Fund (rounded down to the nearest whole share) .

 

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(k)       Section 5.12 of the Merger Agreement is hereby replaced in its entirety with the following:

 

Repayment of Convertible Promissory Notes . At the Closing, Buyer shall issue, or shall cause to be issued, to each holder of the Convertible Promissory Notes a number of Buyer Common Shares, rounded down to the nearest whole shares, equal to (a) the portion of the Convertible Promissory Notes Amount due and payable to such holder as of the Closing Date divided by (b) the Buyer Equity Offering Price, in each case, as set forth in the Closing Statement (the “ Convertible Notes Payoff Shares ”), which, upon issuance, shall constitute repayment in full of the Convertible Notes Payoff Amount due and payable to such holder. Any and all Buyer Common Shares issued pursuant to this Section 5.12 (and any certificates or book-entry entitlements representing such Buyer Common Shares) shall (x) be “restricted securities” within the meaning of Rule 144 under the Securities Act, (y) bear all legends described in Section 2.13(c)(ii) , and (z) be subject to the lock-up agreement described in Section 2.13(c)(iii) . The issuance of Convertible Notes Payoff Shares to each holder of the Convertible Promissory Notes shall be subject to and conditioned upon each such holder executing a payoff letter whereby such holder accepts such Convertible Notes Payoff Shares as full and complete payment for all amounts due and owing under such holder’s Convertible Promissory Notes. Such payoff letter will be in a form reasonably satisfactory to Buyer and each holder of Convertible Promissory Notes.

 

(l)       Section 5.13 of the Merger Agreement is hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

Transaction Expenses . At or prior to the Closing, Buyer and the Stockholders’ Agent shall jointly instruct and otherwise cause the Escrow Agent to pay at the Closing, with funds provided by the Buyer to the Escrow Agent, all unpaid Transaction Expenses to relevant payees, in each case, as set forth in the Closing Statement , it being understood and agreed that the aggregate amount of such Transaction Expenses to be paid at the Closing shall not exceed an amount equal to (a) Closing Cash Target minus (b) the Stockholders’ Agent Expense Amount, provided that any outstanding Transaction Expenses not paid at the Closing pursuant to this paragraph shall be assumed by Buyer and paid in accordance with the commercial terms applicable to such expenses .

 

(m)       Section 5.22(d) of the Merger Agreement is hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

For purposes of this Section 5.22, “ Stockholder Loan Fee Cap” means $ 750,000 1,000,000 .

 

(n)       Section 8.2(a) of the Merger Agreement is hereby amended by inserting the bold, underlined text and deleting the strickenthrough text as follows:

 

the Closing shall not have occurred on or before the October 31, 2017 December 31, 2017 , or such other date as may have been agreed upon in writing by Buyer and the Company (such applicable date, the “ Outside Date ”); or

 

(o)       A new clause (d) is hereby added to Section 9.5 of the Merger Agreement as follows:

 

For purposes of determining the value of each Escrowed Merger Share to satisfy indemnification claims made by any Buyer Indemnified Party under this Agreement, each Escrowed Merger Share shall be deemed to have a value equal to the Buyer Equity Offering Price.

 

(p)       Except for the amendments expressly set forth in this Section 1 , the text of the Merger Agreement shall remain unchanged and in full force and effect.

 

Section 2. Further Amendment . The Merger Agreement may be further amended by the Parties at any time by compliance with Section 10.7 of the Merger Agreement.

 

Section 3. Miscellaneous . The provisions of Sections 10.8 (Assignments; No Third Party Rights), 10.9 (Waiver), 10.10 (Severability), 10.11 (Governing Law; Jurisdiction; Venue; No Trial by Jury), 10.13 (Construction), 10.15 (Headings) and 10.16 (Counterparts) of the Merger Agreement are incorporated herein by reference, mutatis mutandis .

 

[Signature page follows.]

 

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IN WITNESS WHEREOF, the parties hereto have entered into and signed this Amendment as of the date and year first above written.

 

  BUYER:
   
  LIVEXLIVE MEDIA, INC.
   
  By: /s/ Jerome N. Gold
    Name: Jerome N. Gold
    Title:   Executive Vice President and CFO
     
  MERGER SUB:
   
  LXL Music Acquisition Corp.
   
  By: /s/ Jerome N. Gold
    Name: Jerome N. Gold
    Title:   CFO and Secretary
     
  COMPANY:
   
  SLACKER, INC.
   
  By: /s/ Duncan Orrell-Jones
    Name: Duncan Orrell-Jones
    Title:   President and CEO

 

     

 

 

IN WITNESS WHEREOF, the parties hereto have entered into and signed this Amendment as of the date and year first above written.

 

  STOCKHOLDERS’ AGENT:
   
  FORTIS ADVISORS LLC
     
  By: /s/ Richard Fink
    Name: Richard Fink
    Title:   Managing Director