Document:

Exhibit 4.4

 

AMENDMENT NO. 1 TO WARRANT AGREEMENT

 

AMENDMENT NO. 1 (“Amendment”),
dated as of June 24, 2012, to Warrant Agreement (“Warrant Agreement”) made as of June 21, 2011 between SAExploration
Holdings, Inc. (formerly known as Trio Merger Corp.), a Delaware corporation, with offices at 3333 8th St. SE, 3rd Fl., Calgary,
Alberta T2G 3A4 (“Company”), and Continental Stock Transfer & Trust Company, a New York corporation, with offices
at 17 Battery Place, New York, New York 10004 (“Warrant Agent”). Capitalized terms used herein and not otherwise defined
have the meanings assigned to them in the Warrant Agreement.

 

WHEREAS, the Company has entered into an
Agreement and Plan of Reorganization, dated as of December 10, 2012, as amended (“Merger Agreement”), with Trio Merger
Sub, Inc. (“Merger Sub”), SAExploration Holdings, Inc. (“SAE”) and CLCH, LLC, pursuant to which SAE will
merge with and into Merger Sub, with SAE surviving as a wholly owned subsidiary of the Company; and

 

WHEREAS, pursuant to the Merger Agreement,
the Company agreed to amend the Warrant Agreement to (a) increase the exercise price of the Warrants from $7.50 to $12.00 per share
of Common Stock and (b) increase the redemption price of the Warrants from $12.50 to $15.00 per share of Common Stock; and

 

WHEREAS, the Company desires that the Warrant
Agreement be so amended and, on December 10, 2012, a majority of the then outstanding warrants consented to the amendments;

 

NOW, THEREFORE, in consideration of the
mutual agreements herein contained, the parties hereto agree as follows:

 

1.Amendment to Warrant Agreement. The parties agree
that the Warrant Agreement is hereby immediately amended as follows:

 

		(a)	The reference to “$7.50” in Section 3.1 of the Warrant Agreement is replaced with “$12.00”.

 

		(b)	The reference to “$12.50” in Section 6.1 of the Warrant Agreement is replaced with “$15.00”.

 

2.Miscellaneous.

 

2.1Governing Law. The validity,
interpretation, and performance of this Amendment shall be governed in all respects by the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Amendment
shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenience forum. Any such process or summons to
be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth in Section 9.2 of the Warrant Agreement. Such mailing shall be deemed
personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

    	 

    	 

    

 

 

2.2Binding Effect. This Amendment
shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives, successors
and assigns.

 

2.4Severability. This Amendment
shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity
or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as part of this Agreement a provision as similar in terms
to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

2.3Entire Agreement. This Amendment
and the Warrant Agreement set forth the entire agreement and understanding between the parties as to the subject matter thereof
and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them. Except as set
forth in this Amendment, the provisions of the Warrant Agreement which are not inconsistent with this Amendment shall remain in
full force and effect. This Amendment may be executed in counterparts.

 

[signature page follows]

 

 

    	 

    	 

    

 

 

IN WITNESS WHEREOF, this Amendment has been
duly executed by the parties hereto as of the day and year first above written.

 

 

	 	SAEXPLORATION HOLDINGS, INC.	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Brian Beatty	 
	 	Name: 	  Brian Beatty	 
	 	Title:   	 President and Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	CONTINENTAL STOCK TRANSFER  & TRUST COMPANY	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Margaret Villani	 
	 	Name: 	  Margaret Villani	 
	 	Title:   	 Vice PresidentExhibit 4.5

 

AMENDED AND RESTATED PROMISSORY NOTE

 

	$100,000.00	As of April 25, 2012

 

Trio Merger Corp.
(“Maker”) promises to pay to the order of (“Payee”) the principal sum of One Hundred Thousand Dollars
and No Cents ($100,000.00) in lawful money of the United States of America, on the terms and conditions
described below. This Note supersedes and replaces the promissory note in the same principal amount made by Maker to Payee on
April 25, 2012.

 

1.                 
Principal. The principal balance of this Note shall be repayable on the 60th
calendar day following the date of consummation of the Maker’s initial merger, capital stock exchange, asset acquisition
or other similar business combination with one or more businesses or entities (a “Business Combination”).

 

2.                 
Interest. No interest shall accrue on the unpaid principal balance of this Note.

 

3.                 
Application of Payments. All payments shall be applied first to payment in full of any
costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorneys’ fees,
then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.

 

4.                 
Events of Default. The following shall constitute Events of Default:

 

(a)              
Failure to Make Required Payments. Failure by Maker to pay the principal of this Note
within five (5) business days following the date when due.

 

(b)             
Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under the Federal
Bankruptcy Code, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

(c)              
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having
jurisdiction in the premises in respect of maker in an involuntary case under the Federal Bankruptcy Code, as now or hereafter
constituted, or any other applicable federal or state bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering
the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period
of 60 consecutive days.

 

    	 

    	 

    

 

5.                 
Remedies.

 

(a)              
Upon the occurrence of an Event of Default specified in Section 4(a), Payee may, by written notice
to Maker, declare this Note to be due and payable, whereupon the principal amount of this Note, and all other amounts payable thereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)             
Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal
balance of, and all other sums payable with regard to, this Note shall automatically and immediately become due and payable, in
all cases without any action on the part of Payee.

 

6.                 
Conversion. After consummation of a Business Combination and prior to payment in full
of the principal balance of, and all other sums payable with regard to, this Note, the Holder shall have the option, but not the
obligation, to convert the principal balance of this Note, in whole or in part at the option of the Holder, into warrants (“Warrants”)
of the Maker at a price of $0.50 per Warrant; provided, however, that the Holder shall be permitted to convert this Note only
if the stockholders of the Company have approved the issuance of the Warrants to the Holder
if such approval is necessary under applicable rules. The Warrants will be identical to the “insider warrants”
(as such term is defined in the Maker’s final prospectus for its initial public offering, dated June 21, 2011). As promptly
after notice by Holder to Maker to convert the principal balance of this Note as is reasonably practicable and after Holder’s
surrender of this Note, but in no event less than three (3) business days after the later of such notice and surrender of this
Note, Maker shall have issued and delivered to Holder, without any charge to Holder, a certificate or certificates (issued in
the name(s) requested by Holder) for the number of Warrants of Maker issuable upon the conversion of this Note.

 

7.                 
Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive
presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects
and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker
by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any
sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from
civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment
obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order
desired by Payee.

 

8.                 
Unconditional Liability. Maker hereby waives all notices in connection with the delivery,
acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional,
without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time,
renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers,
or modifications that may be granted by Payee with respect to the payment or other provisions of this Note, and agree that additional
makers, endorsers, guarantors, or sureties may become parties hereto without notice to them or affecting their liability hereunder.

 

    	 

    	 

    

 

9.                 
Notices. Any notice called for hereunder shall be deemed properly given if (i) sent by
certified mail, return receipt requested, (ii) personally delivered, (iii) dispatched by any form of private or governmental express
mail or delivery service providing receipted delivery, (iv) sent by telefacsimile or (v) sent by e-mail, to the following addresses
or to such other address as either party may designate by notice in accordance with this Section:

 

 

If to Maker:

 

Trio Merger Corp.

777 Third Avenue, 37th Floor

New York, New York 10017

 

If to Payee:

 

c/o Trio Merger Corp.

777 Third Avenue, 37th
Floor

New York, New York 10017

 

Notice shall be deemed
given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission confirmation,
(iii) the date on which an e-mail transmission was received by the receiving party’s on-line access provider (iv) the date
reflected on a signed delivery receipt, or (vi) two (2) Business Days following tender of delivery or dispatch by express mail
or delivery service.

 

10.             
Construction. This Note shall be construed and enforced in accordance with the domestic,
internal law, but not the law of conflict of laws, of the State of New York.

 

11.             
Severability. Any provision contained in this Note which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate
or render unenforceable such provision in any other jurisdiction.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Amended and Restated Promissory Note to be duly executed by its Chief
Financial Officer as of the 24th day of June, 2013.

 

 

	 	TRIO MERGER CORP.
	 	 	 
	 	 	 
	 	 	 
	 	By:  	/s/
    David D. Sgro
	 	 	Name:  David D. Sgro
	 	 	Title: Chief Financial Officer

 

    	 

    	 

    

 

Schedule to Exhibit 4.5

 

Form of Amended and Restated Convertible
Promissory Notes dated as of April 25, 2012

Issued to Eric S. Rosenfeld and David
D. Sgro

 

Pursuant to Instruction
2 to Item 601 of Regulation S-K, this schedule identifies material details in which the five executed Amended and Restated Convertible
Promissory Notes differed from the form of such document filed as Exhibit 4.5.

 

	Name of Payee	Number of Notes Issued
	Eric S. Rosenfeld	Three
	David D. Sgro	Two

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