Document:

exv10w75

 

Exhibit 10.75

SEPTEMBER 2007 AMENDMENT OF JULY 2007 SECURED 

PROMISSORY NOTE ISSUED BY IRVINE SENSORS CORPORATION

AND HELD BY LONGVIEW FUND L.P. 

     This Agreement entered into effective as of September 30, 2007 (the “September 2007 Amendment
of July 2007 Secured Promissory Note”) by and among IRVINE SENSORS CORPORATION, a Delaware
corporation (hereinafter called “Company”), and LONGVIEW FUND L.P. (“Holder”). The Company and
Holder are entering into this September 2007 Amendment of July 2007 Secured Promissory Note to
amend certain provisions of certain Secured Promissory Note issued July 19, 2007 (each a “Secured
Promissory Note”), issued by the Company pursuant to a Loan Agreement dated as of July 19, 2007
(the “Loan Agreement”).

     NOW THEREFORE, in consideration of the mutual covenants and other agreements contained in this
Amendment and other good and valuable consideration, receipt of which is acknowledged, the Company
and the Holder hereby agree as follows:

     1. The Principal Amount and interest due on the Secured Promissory Note shall be due and
payable on December 31, 2009, subject to acceleration as described in the Secured Promissory Note,
Loan Agreement and other agreements made in connection therewith. Interest shall compound monthly.

     2. Except as expressly amended hereby, the Secured Promissory Note Loan Agreement and all
other agreements made in connection therewith and all terms thereof shall remain in full force and
effect.

     3. This September 2007 Amendment of July 2007 Secured Promissory Note may be executed in two
or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered
to any other party, it being understood that all parties need not sign the same counterpart. In
the event that any signature is delivered by facsimile or electronic transmission, such signature
shall create a valid and binding obligation of the party executing (or on whose behalf such
signature is executed) same with the same force and effect as if such signature were an original
thereof.

     IN WITNESS WHEREOF, Company and Holder hereby execute this September 2007 Amendment of July
2007 Secured Promissory Note as of the date first written above.

	 	 	 	 	 
	 	IRVINE SENSOR CORPORATION

“Company”

 	 
	 	By:  	/S/ JOHN C. CARSON
 	 
	 	 	Name:  	John C. Carson 	 
	 	 	Title:  	President & CEO 	 
	 

	 	 	 	 	 
	 	LONGVIEW FUND, L.P.

“Holder”

 	 
	 	By:  	/S/ S. MICHAEL RUDOLPH
 	 
	 	 	Name:  	S. Michael Rudolph 	 
	 	 	Title:  	CFO -- Investment Adviserexv10w76

 

Exhibit 10.76

SEPTEMBER 2007 AMENDMENT OF SERIES 2 NOTES

ISSUED BY IRVINE SENSORS CORPORATION

AND HELD BY LONGVIEW FUND L.P.

     This Agreement entered into effective as of September 30, 2007 (the “September 2007
Amendment of Series 2 Notes”) by and among IRVINE SENSORS CORPORATION, a Delaware corporation
(hereinafter called “Company”), and LONGVIEW FUND L.P. (the “Holder”). The Company and Holder are
entering into this September 2007 Amendment of Series 2 Notes to amend certain provisions of
certain Series 2 Senior Subordinated Secured Convertible Notes dated December 30, 2005 (as amended,
each a “Series 2 Note”), issued by the Company pursuant to a Securities Purchase Agreement dated as
of December 30, 2005 (as amended, the “Purchase Agreement”).

     The Series 2 Notes were subsequently assigned by the original holders of the Series 2 Notes to
the Holder pursuant to that certain Assignment of Series 2 and Series 2 Senior Subordinated Secured
Convertible Notes, dated December 29, 2006, and Addendum thereto (“Assignment Agreement”).
Capitalized terms used but not defined herein shall have the respective meanings given to such
terms in the Series 2 Notes, Purchase Agreement and Assignment Agreement.

     NOW THEREFORE, in consideration of the mutual covenants and other agreements contained in this
Amendment and other good and valuable consideration, receipt of which is acknowledged, the Company
and the Holder hereby agree as follows:

     1. The Interest Payment Date with respect to all interest payable under the Series 2 Notes
shall be the Maturity Date (as extended by the Assignment Agreement), accelerated or otherwise.
All interest shall compound monthly.

     2. The Interest Rate shall not be reduced upon the occurrence of an Interest Rate Adjustment
Event.

     3. Except as expressly amended hereby, the Series 2 Notes, the Assignment Agreement, the
surviving provisions of the Purchase Agreement described in the Assignment Agreement, and all other
agreements made in connection therewith and all terms thereof shall remain in full force and
effect.

     4. This September 2007 Amendment of Series 2 Notes may be executed in two or more
counterparts, all of which when taken together shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to any other
party, it being understood that all parties need not sign the same counterpart. In the event that
any signature is delivered by facsimile or electronic transmission, such signature shall create a
valid and binding obligation of the party executing (or on whose behalf such signature is executed)
same with the same force and effect as if such signature were an original thereof.

 

 

     IN WITNESS WHEREOF, Company and Holder hereby execute this September 2007 Amendment of Series
2 Notes as of the date first written above.

	 	 	 	 	 
	 	IRVINE SENSOR CORPORATION

“Company”

 	 
	 	By:  	/S/  JOHN C. CARSON
 	 
	 	 	Name:  	John C. Carson 	 
	 	 	Title:  	President & CEO 	 
	 

	 	 	 	 	 
	 	LONGVIEW FUND, L.P.

“Holder”

 	 
	 	By:  	/S/  S. MICHAEL RUDOLPH
 	 
	 	 	Name:  	S. Michael Rudolph 	 
	 	 	Title:  	CFO -- Investment Adviser 	 
	 

[Signature Page to

2007 Note Amendment of Series 2 Notes]exv10w77

 

Exhibit 10.77

SEPTEMBER 2007 AMENDMENT OF DECEMBER 2006 TERM 

NOTES ISSUED BY IRVINE SENSORS CORPORATION

AND HELD BY LONGVIEW FUND L.P. AND ALPHA CAPITAL ANSTALT

     This Agreement entered into effective as of September 30, 2007 (the “September 2007 Amendment
of December 2006 Term Notes”) by and among IRVINE SENSORS CORPORATION, a Delaware corporation
(hereinafter called “Company”), and LONGVIEW FUND L.P. and ALPHA CAPITAL ANSTALT (each a “Holder”).
The Company and Holder are entering into this September 2007 Amendment of December 2006 Term Notes
to amend certain provisions of certain Term Notes (each a “Term Note”) issued by the Company as of
December 29, 2006 pursuant to a Subscription Agreement dated as of December 29, 2006 (the
“Subscription Agreement”) and a Term Loan and Security Agreement dated as of December 29, 2006
(“Term Loan Agreement”).

     NOW THEREFORE, in consideration of the mutual covenants and other agreements contained in this
Amendment and other good and valuable consideration, receipt of which is acknowledged, the Company
and the Holder hereby agree as follows:

     1. The Principal Amount and interest due on the Term Notes shall be due and payable on
December 31, 2009, subject to acceleration as described in the Term Notes, Subscription Agreement,
Term Loan Agreement and other agreements made in connection therewith. Interest shall compound
monthly.

     2. Except as expressly amended hereby, the Term Notes, Subscription Agreement, Term Loan
Agreement and other agreements made in connection therewith and all terms thereof shall remain in
full force and effect.

     3. This September 2007 Amendment of December 2006 Term Notes may be executed in two or more
counterparts, all of which when taken together shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to any other
party, it being understood that all parties need not sign the same counterpart. In the event that
any signature is delivered by facsimile or electronic transmission, such signature shall create a
valid and binding obligation of the party executing (or on whose behalf such signature is executed)
same with the same force and effect as if such signature were an original thereof.

 

 

     IN WITNESS WHEREOF, Company and Holder hereby execute this September 2007 Amendment of
December 2006 Term Notes as of the date first written above.

	 	 	 	 	 
	 	IRVINE SENSOR CORPORATION

“Company”

 	 
	 	By:  	/S/  JOHN C. CARSON
 	 
	 	 	Name:  	John C. Carson 	 
	 	 	Title:  	President & CEO 	 
	 

	 	 	 	 	 
	 	LONGVIEW FUND, L.P.

“Holder”

 	 
	 	By:  	/S/  S. MICHAEL RUDOLPH
 	 
	 	 	Name:  	S. Michael Rudolph 	 
	 	 	Title:  	President & CEO 	 
	 

	 	 	 	 	 
	 	ALPHA CAPITAL ANSTALT

“Holder”

 	 
	 	By:  	/S/  KONRAD ACKERMAN
 	 
	 	 	Name:  	Konrad Ackerman 	 
	 	 	Title:  	Directorexv10w78

 

Exhibit 10.78

SEPTEMBER 2007 AMENDMENT OF SERIES 1 NOTES

ISSUED BY IRVINE SENSORS CORPORATION

AND HELD BY LONGVIEW FUND L.P. AND ALPHA CAPITAL ANSTALT

     This Agreement entered into effective as of September 30, 2007 (the “September 2007 Amendment
of Series 1 Notes”) by and among IRVINE SENSORS CORPORATION, a Delaware corporation (hereinafter
called “Company”), and LONGVIEW FUND L.P. and ALPHA CAPITAL ANSTALT (each a “Holder”). The Company
and Holders are entering into this September 2007 Amendment of Series 1 Notes to amend certain
provisions of certain Series 1 Senior Subordinated Secured Convertible Notes dated December 30,
2005 (as amended, each a “Series 1 Note”), issued by the Company pursuant to a Securities Purchase
Agreement dated as of December 30, 2005 (as amended, the “Purchase Agreement”).

     The Series 1 Notes were subsequently assigned by the original holders of the Series 1 Notes to
the Holders pursuant to that certain Assignment of Series 1 and Series 2 Senior Subordinated
Secured Convertible Notes, dated December 29, 2006, and Addendum thereto (“Assignment Agreement”).
Capitalized terms used but not defined herein shall have the respective meanings given to such
terms in the Series 1 Notes, Purchase Agreement and Assignment Agreement.

     NOW THEREFORE, in consideration of the mutual covenants and other agreements contained in this
Amendment and other good and valuable consideration, receipt of which is acknowledged, the Company
and the Holder hereby agree as follows:

     1. The Interest Payment Date with respect to all interest payable under the Series 1 Notes
shall be the Maturity Date, accelerated or otherwise. All interest shall compound monthly.

     2. The Company may, upon ten (10) Trading Days prior written notice to the Holders, defer the
Principal Payment Date with respect to any or all Monthly Installments until the Maturity Date,
accelerated or otherwise. The Interest Rate with respect to any such deferred Monthly Installments
shall be ten percent (10%) per year (the “Deferral Interest Rate”). For the avoidance of doubt,
neither the Company nor a Holder may exercise any rights to convert into Common Stock any interest
constituting the incremental increase in interest above the Interest Rate up to the Deferral
Interest Rate as a result of a deferred Monthly Installment. Interest which accrues on the
deferred Monthly Installment at the unamended Interest Rate shall be convertible in the same manner
as set forth in the Series 1 Note.

     3. The Interest Rate shall not be reduced upon the occurrence of an Interest Rate Adjustment
Event.

     4. Except as expressly amended hereby, the Series 1 Notes, the Assignment Agreement, the
surviving provisions of the Purchase Agreement described in the Assignment Agreement, and all other
agreements made in connection therewith and all terms thereof shall remain in full force and
effect.

     5. This September 2007 Amendment of Series 1 Notes may be executed in two or more
counterparts, all of which when taken together shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to any other
party, it being understood that all parties need not sign the same counterpart. In the event that
any signature is delivered by facsimile or electronic transmission, such signature shall create a
valid and binding obligation of the party executing (or on whose behalf such signature is executed)
same with the same force and effect as if such signature were an original thereof.

 

 

     IN WITNESS WHEREOF, Company and Holder hereby execute this September 2007 Amendment of Series
1 Notes as of the date first written above.

	 	 	 	 	 
	 	IRVINE SENSOR CORPORATION

“Company”

 	 
	 	By:  	/S/ JOHN C. CARSON
 	 
	 	 	Name:  	John C. Carson 	 
	 	 	Title:  	President & CEO 	 
	 

	 	 	 	 	 
	 	LONGVIEW FUND, L.P.

“Holder”

 	 
	 	By:  	/S/ S. MICHAEL RUDOLPH
 	 
	 	 	Name:  	S. Michael Rudolp 	 
	 	 	Title:  	CFO — Investment Adviser 	 
	 

	 	 	 	 	 
	 	ALPHA CAPITAL ANSTALT

“Holder”

 	 
	 	By:  	KONRAD ACKERMAN
 	 
	 	 	Name:  	Konrad Ackerman 	 
	 	 	Title:  	Director

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