0001144204-05-033318 Sample Contracts
October 17, 2005 VIA FEDERAL EXPRESS AND FACSIMILE (310) 752-1486 ---------------------------- Digicorp 100 Wilshire Boulevard, Suite 1750 Santa Monica, CA 90401 Attn: William B. Horne, CEO Re: Exchange of Warrants Dear Will: This letter documents the...Exchange of Warrants • October 31st, 2005 • Digicorp • Blank checks
This letter documents the agreement among Bodnar Capital Management, LLC ("Bodnar Capital") and Digicorp to cancel certain warrants owned by Bodnar Capital in exchange for the issuance by Digicorp of a replacement warrant, as further described below. Pursuant to a Subscription Agreement dated May 18, 2005 between Digicorp and Bodnar Capital (the "Subscription Agreement"), Bodnar Capital purchased 2,941,176 shares of Digicorp's common stock ("Common Stock") and warrants to purchase an aggregate of 3,000,000 shares of Common Stock with exercise prices ranging from $0.25 to $1.50 per share (the "May Warrants").