BARK GROUP INC. Ostergade 17-19, 3rd Floor, DK-1100 Copenhagen K, DenmarkBark Group Inc • July 17th, 2008 • Services-advertising
We write further to the repurchase and lock-up agreement entered into between Bark Group and yourself as a shareholder of Bark Group (the “Repurchase Agreement”). As you are aware, Bark Group has not completed the “Financing” contemplated by and defined in the Repurchase Agreement as of June 30, 2008. The Financing is defined in the Repurchase Agreement as an equity financing to be completed by Bark Group whereby Bark Group will issue not more than 2,857,143 shares of its common stock for aggregate gross proceeds of not less than $10 million. As the Financing did not complete by June 30, 2008, Bark Group is entitled under the Repurchase Agreement to exercise its option to repurchase your shares of Bark Group at a price of $0.001 per share. However, Bark Group will agree not to exercise its right to repurchase provided that you agree to the following amendments to the Repurchase Agreement:
BARK GROUP INC. Ostergade 17-19, 3rd Floor, DK-1100 Copenhagen K, DenmarkBark Group Inc • July 17th, 2008 • Services-advertising
We write to confirm our agreement to extend the previous June 1, 2008 termination date to September 30, 2008 by amending Paragraph 2 of the Engagement Agreement entitled “Term of Engagement” to read as follows:
BARK GROUP INC. Ostergade 17-19, 3rd Floor, DK-1100 Copenhagen K, DenmarkBark Group Inc • July 17th, 2008 • Services-advertising
Indemnification Agreement between Bark Corporation A/S (“Bark”) and DeBondo Capital Limited (Hongkong) ("DeBondo HK") dated February 29, 2008 (the "Indemnification Agreement"); and
