December 18, 2015 STRICTLY CONFIDENTIAL DS Healthcare Group, Inc.
EXHIBIT 10.3
December 18, 2015
0000 Xxxxx Xxxx
Xxxxxxx Xxxxx XX 00000
Attn: Xxxxx Xxxxx
Dear Xx. Xxxxx
Reference is made to the engagement letter (the “Engagement Letter”), dated December 16, 2015 by and between DS Healthcare Group, Inc. (the “Company”) and Xxxxxx & Xxxxxxx, a unit of X.X. Xxxxxxxxxx & Co., LLC (“Xxxxxx”),. Defined terms used herein but not defined herein shall have the meanings given to such terms in the Engagement Letter.
1.
The Company and Xxxxxx hereby agree to amend and restate Section A.1 of the Engagement Letter as follows:
“Cash Fee. The Company shall pay to Rodman a cash fee, or as to an underwritten Offering an underwriter discount, equal to 8% of the aggregate gross proceeds raised in each Offering from Exclusive Investors and investors whom Xxxxxx had contacted during the Term, or introduced, directly or indirectly, to the Company during Term, provided, however, Xxxxxx shall pay 30% of any such cash fee received from the Company under the aforementioned provision to Barrington Research Associates.”
Except as expressly set forth above, all of the terms and conditions of the Engagement Letter shall continue in full force and effect after the execution of this agreement and shall not be in any way changed, modified or superseded by the terms set forth herein.
This agreement may be executed in two or more counterparts and by facsimile or “.pdf” signature or otherwise, and each of such counterparts shall be deemed an original and all of such counterparts together shall constitute one and the same agreement.
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000 Xxxx Xxxxxx x Xxx Xxxx, Xxx Xxxx 00000 | 212.356.0500 | xxx.xxxxx.xxx
Member: FINRA/SIPC
IN WITNESS WHEREOF, this agreement is executed as of the date first set forth above.
| Very truly yours, | |
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| XXXXXX & XXXXXXX, A UNIT OF | |
| X.X. XXXXXXXXXX & CO., LLC | |
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| By |
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| Name: Xxxx Viklund |
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| Title: Chief Executive Officer |
Accepted and Agreed:
By |
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| Name: Xxxxx Xxxxx |
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| Title: Chief Operating Officer |
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[Signature Page to DSKX Engagement Letter Amendment]