Exhibit
10.13
AMENDMENT NO. 1 –
ASSET PURCHASE AGREEMENT
Amendment No. 1, dated as of August 1, 2008
(“Amendment”), to the Asset Purchase Agreement, dated
May 15, 2008 (the “Original Agreement” and, as amended
hereby, the “Agreement”) by and between BPA ASSOCIATES,
LLC, a Massachusetts limited liability company having an
address at 208 Common Street, Watertown, Massachusetts 02172
(“Seller”) and SAHARA MEDIA INC., a Delaware
Corporation, with offices at 75 Franklin Street, 2
nd Floor, New York, New York 10013
(“Purchaser”). Capitalized terms used but not defined
herein have the meanings given to them in the Original
Agreement.
WHEREAS,
pursuant to a letter of intent by and between Purchaser and Mac
Filmworks, Inc. (“Mac Filmworks”), Mac Filmworks has
expressed its intent to acquire all of the issued and outstanding
capital stock of Purchaser (the
“Reorganization”);
WHEREAS,
Purchaser has not yet assumed ownership of the Database;
WHEREAS,
concurrently with the consummation of the Reorganization, the
Purchaser wishes to complete the purchase of the
Database;
WHEREAS,
concurrently with the consummation of the Reorganization, the
Seller wishes to sell the Database to the Purchaser;
WHEREAS, in
order to more accurately describe their intentions, the Purchaser
and the Seller wish to amend the Original Agreement on the terms
set forth herein.
NOW THEREFORE, the parties agree as
follows:
Section 1.2
Amendment to Section 2 of the Original Agreement . Section 2
of the Original Agreement (Purchase Price Allocation) is hereby
amended and restated in its entirety as follows:
“2
Purchase Price and Allocation” In consideration for
the sale, assignment, transfer and delivery as well as for the
pledging of the Assets as collateral for Purchaser’s bridge
financing, Purchaser shall pay to Seller’s order, in
certified funds, cashier’s check or money order, the
aggregate amount of Eight Hundred Twenty Five Thousand Dollars
($825,000) and One Million Four Hundred Twenty Five Thousand
(1,425,000) founder shares at $.00001 par value, of which 350,000
shall include piggy back registration rights (the “Purchase
Price”). The Purchase Price shall be payable as
follows:
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