Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

As previously reported in the Current Report on Form 8-K filed by Signing Day Sports, Inc., a Delaware corporation (the "Company"), with the Securities and Exchange Commission (the "SEC"), on September 19, 2024, on September 18, 2024, the Company entered into a Termination Agreement, dated as of September 18, 2024 (the "Termination Agreement"),with Boustead Securities, LLC, a California limited liability company and a registered broker-dealer ("Boustead"). The parties entered into the Termination Agreement in order to terminate the engagement letter, dated as of August 9, 2021, as amended by letter agreements entered into by Boustead and the Company dated as of November 4, 2023, November 8, 2023, and November 13, 2023 (as amended, the "Engagement Letter"), pursuant to which Boustead had certain rights to act as a financial advisor to the Company. The Termination Agreement also provided for the termination of the right of first refusal (the "Right of First Refusal") provided under the Underwriting Agreement, dated as of November 13, 2023, between the Company and Boustead, as representative of the underwriters in connection with the Company's firm commitment underwritten initial public offering (the "Underwriting Agreement"), in exchange for the issuance of the Termination Shares (as defined below).

The Termination Agreement provided that the Company will issue to Boustead 3,000,000 shares (the "Initial Termination Shares") of the Company's common stock, par value $0.0001 per share ("common stock"), by the later of the date that is (i) five business days after the date of the Termination Agreement and (ii) the date that the NYSE American LLC (the "NYSE American") authorized the issuance of the Initial Termination Shares (the "Termination Date"). On the Termination Date, the Engagement Letter and the Right of First Refusal and rights and obligations pursuant to the Engagement Letter and the Right of First Refusal will be terminated except with respect to certain customary surviving provisions.

The Termination Agreement further provided that upon issuance of common stock or other securities that are exercisable or exchangeable for, or convertible into, common stock to any third party (other than Boustead or any affiliate of Boustead), the Company will issue to Boustead a number of shares of common stock equal to 10.35% of the shares of common stock (or other securities) so issued by the Company in any such transaction other than a Change in Control (as defined in the Termination Agreement) (the "Additional Termination Shares," and, together with the Initial Termination Shares, the "Termination Shares"), by the later of (i) five business days after the date of such issuance and (ii) the date that the NYSE American authorizes the issuance of the Additional Termination Shares. The Company's obligation to issue Additional Termination Shares will cease immediately prior to the effective date of a Change in Control and, for the avoidance of doubt, Boustead will not be entitled to any percentage of the securities issued by the Company in connection with the Change in Control.

On October 15, 2024, the Company entered into a letter agreement, dated as of October 15, 2024, between the Company and Boustead (the "Termination Agreement Amendment"). The Termination Agreement Amendment amends and supplements the Termination Agreement to provide that notwithstanding anything to the contrary, the aggregate number of shares of common stock issuable to Boustead pursuant to the Termination Agreement is limited to no more than 19.99% of the aggregate number of shares issued and outstanding shares of common stock immediately prior to the execution of the Termination Agreement, or 3,621,725 shares of common stock, which number of shares shall be reduced, on a share-for-share basis, by the number of shares of common stock issued or issuable pursuant to any transaction or series of transactions that may be aggregated with the transactions contemplated by the Termination Agreement under applicable rules of the NYSE American (the "Termination Shares Exchange Cap"), unless the Company's stockholders have approved the issuance of common stock pursuant to the Termination Agreement in excess of that amount in accordance with the applicable rules of the NYSE American (the "Exchange Cap Stockholder Approval").