Exhibit 10.7
ADDENDUM TO EXHIBIT "A" OF COMMON STOCK PURCHASE AGREEMENT
THIS ADDENDUM AGREEMENT (the "Addendum") to Exhibit A To Common Stock
Purchase Agreement: Option Agreement (the "Agreement") is made as of February 9,
2000 by and between THE PLAYERS NETWORK, INC., a Nevada corporation (the
"Company") and ACTION GAMING, INC., a Nevada corporation, and its successors and
assigns ("Optionee" and, together with the Company, the "Parties")
Section 2.2 and 2.2(a) of the Agreement states:
2.2 EXERCISE OF SECOND OPTION. The Second Option may be exercised upon
the following terms and conditions:
(a) SECOND OPTION PRICE. The purchase price for shares upon
exercise of the Second Option shall be Seventy Cents ($0.70) per share, subject
to the Fair Marker Adjustment; PROVIDED that if Optionee exercises the Second
Option on or before four (4) months after the Date of Grant the Second Option
Price shall be Sixty Five Cents ($0.65)
This Addendum states that Optionee has to chosen to partially exercise
its Second Option at a date earlier than referenced in the original Agreement.
The Company agrees to sell Optionee Fifty Thousand Dollars ($50,000) worth of
Common Stock at a price of Forty Cents ($0.40) per share, equaling 125,000
shares of Common Stock.
The Two Hundred Thousand Dollar ($200,000) unexercised option will
remain in full force per Section 2.2 of the Agreement.
AGREED:
"COMPANY" "OPTIONEE"
THE PLAYERS NETWORK, INC. ACTION GAMING
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By: __________________________ By: __________________________
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Its: President Its: President