Document:

Exhibit 10.2

      

       

      

      AMENDMENT TO REVOLVING CREDIT AGREEMENT

      

      

      This Amendment to Revolving Credit
          Agreement (the “Amendment”)
          is dated as of May 7, 2021, by and among AFC Gamma, Inc., a Maryland corporation (the “Borrower”), the Lenders identified on the signature page hereof (collectively, “Lenders”), and AFC Finance, LLC, a Delaware limited liability company, as agent for the Lenders (in such capacity, “Agent”).

      

      

      RECITALS

      

      

      A.          WHEREAS, the
            Borrower, the Agent and certain lenders party thereto are parties to that certain Secured Revolving Credit Agreement, dated as of August 18, 2020 (the “Credit Agreement”);

      

      

      B.          WHEREAS, the Borrower has requested, and the Agent and Lenders have agreed, to modify the Credit Agreement, as set forth herein, subject to the terms and conditions set forth herein below.  All capitalized
              terms used herein and not otherwise defined shall have the meanings given to such terms in the Credit Agreement.

      

      

      AGREEMENT

      

      

      NOW, THEREFORE, in consideration of the premises set forth above and other good and valuable consideration, the receipt and sufficiency of
        which is hereby acknowledged, the parties agree to the following:

      

      

      1.  Amendments.

      

      

      (a)         Section 1.1 of
            the Credit Agreement is amended by amending and restating the below defined terms in appropriate alphabetical order:

      

      

      “Loan Commitment” shall mean (a) as to any Lender, the aggregate commitment of
        such Lender to make Loans as set forth on Annex A hereto or in the most recent assignment agreement to which it is a party (as adjusted to reflect any assignments as permitted hereunder) and (b) as to all Lenders, the aggregate commitment of all
        Lenders to make Loans, which aggregate commitment shall be Fifty Million Dollars ($50,000,000) on the Effective Date, as such amount may be adjusted, if at all, from time to time in accordance with this Agreement; provided that if the Borrower enters into any Refinancing Credit Facility with an aggregate principal amount exceeding $50,000,000, such aggregate commitment shall be reduced dollar-for-dollar to the extent such
        Refinancing Credit Facility exceeds $50,000,000.

      

      

      “Loan Interest Rate” shall mean, with respect to any Loan, 6% per annum, payable
        in cash in arrears as provided herein.

      

      

      “Maturity Date” shall mean the earlier of (i) December 31, 2021, and (ii) the
        date of the closing of any Refinancing Credit Facility with an aggregate principal amount equal to or greater than $50,000,000.

      

      
        
          

      

      
      (b)         Annex A to the Credit Agreement is amended by amending and restating the Loan Commitment table set forth therein with the following:

      

      

      
        	
                Lender

              	
                Loan Commitment

              
	
                AFC FINANCE, LLC

              	
                $50,000,000

              
	
                TOTAL

              	
                $50,000,000

              

      

       

      

      2.  Removal of Lender.  Gamma Lending Holdco LLC is a party to the Credit Agreement (in
        effect as of the Closing Date) as a “Lender” but had no Loan Commitment thereunder.  The parties hereby acknowledge and agree that Gamma Lending Holdco LLC has no Obligations or any other amounts owing to it under the Credit Agreement or any of the
        other Loan Documents, and is hereby fully and forever removed as a Lender under the Credit Agreement and the other Loan Documents, and shall have no further obligations as a Lender or otherwise thereunder.

      

      

      3.  Ratification of Loan Documents and Collateral.  The Borrower hereby ratifies and affirms each of the Loan Documents, as amended hereby, and agrees to perform each obligation set forth in each of the Loan Documents, as amended hereby.  Except as
          specifically modified and amended herein, all terms, warranties, representations, conditions and covenants contained in the Credit Agreement and the other Loan Documents shall remain in full force and effect.  Any property or rights to or
          interests in property granted as security in the Loan Documents shall remain as security for the Loan and the obligations of Borrower in the Loan Documents.

      

      

      4.  Representations and Warranties.  The Borrower represents and warrants to the Lenders and
        the Agent that (a) the representations and warranties set forth in Article IV of the Credit Agreement, and in each of the other Loan Documents, are true and complete in all material respects (provided
        that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on the date hereof as if made on and as of the date hereof (or, if any such
        representation or warranty is expressly stated to have been made as of a specific date, such representation or warranty shall be true and correct in all material respects as of such specific date), and as if each reference in said Article IV to
        “this Agreement” included reference to this Amendment and (b) no Default or Event of Default has occurred and is continuing.

       

      5.  Miscellaneous.

       

      (a)         The Loan Documents as modified herein contain the entire understanding and agreement of the Borrower, Agent and the Lender with respect to the Loan and supersede all prior representations, warranties, agreements, arrangements, and
            understandings.  No provision of the Loan Documents as modified may be changed, discharged, supplemented, terminated, or waived except in a writing signed pursuant to the requirements of the Credit Agreement.

       

      (b)         All references in the Loan Documents to the Credit Agreement shall mean the Credit Agreement as hereby modified and amended.  This Amendment shall also constitute a Loan Document and all terms and conditions of the Credit Agreement (as
            modified herein) including, without limitation, the miscellaneous provisions set forth therein, such as consent to jurisdiction, applicable law, and waiver of jury trial, are incorporated herein as though set forth in full and the Agent and the
            Lenders shall be entitled to the benefits thereof with respect to this Amendment.

       

      
        2

        
          

      

      (c)          This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken
              together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment in electronic (i.e., “pdf” or “tif”) format or via “Docusign” or similar method shall be effective as delivery of a manually executed counterpart of this Amendment.  Each of the parties hereto agrees and acknowledges
              that (i) the transaction consisting of this Amendment may be conducted by electronic means, (ii) it is such party’s intent that, if such party signs this Amendment using an electronic signature, it is signing, adopting and accepting this
              Amendment and that signing this Amendment using an electronic signature is the legal equivalent of having placed its handwritten signature on this Amendment on paper, and (iii) it is being provided with an electronic or paper copy of this
              Amendment in a usable format..

       

      [Signature page follows.]

      

      

      
        3

        
          

      

      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the
        day and year first above written.

      

      

      	 	
              AFC GAMMA, INC.

            
	 	
              as Borrower

            
	 	 	 
	 	
              By:

            	
              /s/ Thomas Geoffroy

            	

            
	 	 	
              Name: Thomas Geoffroy

            
	 	 	
              Title:   Chief Financial Officer

            
	 	 	 
	 	
              AFC FINANCE, LLC

            
	 	
              as Agent

            
	 	 	 
	 	
              By:

            	
              /s/ Leonard M. Tannenbaum

            	

            
	 	 	
              Name: Leonard M. Tannenbaum

            
	 	 	
              Title:   Manager

            
	 	 	 
	 	
              AFC FINANCE, LLC

            
	 	
              as a Lender

            
	 	 	 
	 	
              By:

            	
              /s/ Leonard M. Tannenbaum

            	

            
	 	 	
              Name: Leonard M. Tannenbaum

            
	 	 	
              Title:   Manager

            
	 	 	 
	 	
              GAMMA LENDING HOLDCO LLC

            
	 	
              as a Lender

            
	 	 	 
	 	
              By:

            	
              /s/ Jonathan Kalikow

            	

            
	 	 	
              Name: Jonathan Kalikow

            
	 	 	
              Title:   Authorized Signatory

            

      

      

      
        Signature Page to Amendment to Revolving Credit AgreementExhibit
10.1

 

ADDENTAX
GROUP CORP.

 

Kingkey
100, Block A, Room 4805

Luohu
District, Shenzhen City, China 518000

+(86)
755 8696 1405

 

May
10, 2021

 

Dear
Mr. Alex P. Hamilton,

 

Following
our recent discussions, I am pleased to confirm my invitation to you to join the board of directors (the “Board”)
of Addentax Group Corp. (the “Company”) as an independent director with effect from May 10, 2021. In addition
to your acceptance and acknowledgment of this appointment letter, please complete and return the attached Directors’ and
Officers’ Questionnaire (the “D&O Questionnaire”).

 

In
completing the D&O Questionnaire, you consent to serve as a director of the Company and you consent to the Company’s use of
the information in the D&O Questionnaire in the Company’s filings with the Securities and Exchange Commission, the New York
Stock Exchange, the NASDAQ Stock Market LLC, state governments and other regulatory authorities.

 

You
agree to perform your responsibilities as an independent director and/or a member of the committees of the Board in good faith and in
accordance with applicable law, the organizational documents of the Company and other policies and procedures applicable to such services.
The Company’s Board will appoint you as an independent director effective the date of the Company’s completion of its initial
public offering and the listing on its ordinary shares on a national securities exchange, whichever is the later (the “Effective
Date”). The continuation of your appointment is contingent on re-election at forthcoming annual stockholders’ meetings.

 

You
will not be employed by the Company and will be free to pursue your other interests. We ask that you to please disclose these interests
to our corporate counsel, Loeb & Loeb LLP, so that the Company can identify any conflict of interest arising from our activities
that may in the future intersect with yours. We expect that you will be considered to be an independent director and will be identified
as such in any registration statement, annual report and/or other documentation. If circumstances change, and you believe that your independence
may be in doubt, please discuss this with our corporate counsel. For the purpose of clarity, under the Nasdaq listing rules, an independent
director is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual
having a relationship, which, in the opinion of the company’s board of directors would interfere with the director’s exercise
of independent judgment in carrying out the responsibilities of a director.

 

Confidentiality

 

In
your role as independent director, you will have access to confidential information about the Company and its clients and you agree to
apply the highest standards of confidentiality and, except in the proper performance of your services, not to use or disclose to any
person confidential information during your appointment or thereafter. In addition, you agree to comply with those provisions of the
Company’s Code of Ethics and other policies applicable to independent directors and all applicable laws and regulations relating
to independent directors of a public company.

 

On
termination of your appointment, you will deliver to the Company all books, documents, papers and other property of or relating to the
business of the Company which are in your possession, custody or power by virtue of your position as an independent director of the Company.

 

Committees

 

In
connection with your appointment, you and the Board have agreed that you will serve as a member of the Audit Committee, Compensation
Committee and Governance and Nominating Committee and chairman of one of the aforementioned committees. Compensation associated with
committee service is addressed in the Remuneration section of this appointment letter.

 

    	 

     

    

 

Remuneration

 

The
Company’s independent director compensation program is described generally below. The Board or the applicable committee reserves
the right to adjust the remuneration of directors from time to time.

 

In
consideration of your services and in accordance with the Company’s compensation arrangements for independent directors, you will
receive annual cash compensation of $15,000 payable quarterly in advance on the first business day of each calendar quarter. Your first
cash compensation payment on the Effective Date will likely comprise a pro-rata amount from the Effective Date through to the end of
the relevant calendar quarter and thereafter quarterly payments in advance of each calendar quarter.

 

Further,
in addition to cash compensation, you may be entitled to receive restricted ordinary shares and/or options to purchase to same on such
terms and conditions as may be determined at a later date.

 

Expenses

 

The
Company will reimburse you for reasonable and properly documented expenses incurred in performing your duties provided such expenses
are pre-approved by the Company.

 

Non-Competition

 

You
agree and undertake that you will not, so long as you are a member of the Board and for a period of 12 months following termination of
this Agreement for whatever reason, directly or indirectly as owner, partner, stockholder, employee, broker, agent principal, corporate
officer, director, licensor or in any other capacity whatsoever, engage in, become financially interested in, be employed by, or have
any connection with any business or venture that is engaged in any activities involving services or products which compete, directly
or indirectly, with the services or products provided or proposed to be provided by the Company or its subsidiaries or affiliates; provided
however that you may own securities of any public corporation which is engaged in such business but in an amount not to exceed at any
one time, one percent of any class of stock or securities of such company, so long as you have no active role in the publicly owned company
as director, employee, consultant or otherwise.

 

We
look forward to your participation on the Board of Addentax Group Corp.,

 

	 	Sincerely,
	 	 
	 	Zhida
    Hong
	 	Chief
    Executive Officer

 

I,
Alex P. Hamilton, accept the offer as stated above.

 

	Signature:	 
	 	 
	/s/
    Alex P. Hamilton 	
	Date:
    May 10, 2021

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