EX-10.7 7 doc6.txt 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 4620 Polaris Avenue 2116 Redbird Drive Las Vegas, NV 89103 Las Vegas, NV 89134 By: __________________________ By: __________________________ Mark Bradley Ernest Moody Its: President Its: President