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FIRST AMENDMENT TO BILL OF SALE,
ASSIGNMENT
AND INDEMNIFICATION AGREEMENT
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NOW ALL
PERSONS BY THESE PRESENTS:
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This FIRST
AMENDMENT TO BILL OF SALE, ASSIGNMENT AND INDEMNIFICATION
AGREEMENT (the “Agreement” ) is
entered into to be effective as of the 12th day of May, 2009 (the
“Effective Date” ), by and between
REGENT ENTERTAINMENT MEDIA, INC. , a Delaware Corporation (
“Assignor” ) and STEPHEN P.
JARCHOW and PAUL COLICHMAN (hereinafter collectively
referred to as “Assignee” ).
WHEREAS , on or about May 12, 2009, Assignor and
Assignee entered into that certain Bill of Sale, Assignment and
Indemnification Agreement (the “First
Agreement” ) wherein Assignee purchased from Assignor
a list of accounts receivable insertion orders for a certain sum of
cash; and
WHEREAS , said First Agreement provided that the
assignment of said accounts was with full right of recourse by
Assignee against Assignor; and
WHEREAS , Assignor and Assignee intended for this to be
an outright sale of these accounts and not be considered, in any
manner, to be loan transaction, yet an audit of the books and
records
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