Document:

Exhibit 10.14

 

SECOND OMNIBUS Amendment

to

UNSECURED
CONVERTIBLE PROMISSORY NOTES

and

CONVERTIBLE
NOTE SUBSCRIPTION AGREEMENT

 

This Second Omnibus
Amendment to Unsecured Convertible Promissory Notes and Convertible Note Subscription Agreement (this “Amendment”)
is entered into this 1st day of May 2019, between iSpecimen Inc., a Delaware corporation (the “Company”),
and Andrew L. Ross, Anna-Maria and Stephen Kellen Foundation, Inc., and OBF Investments, LLC (collectively, the “Lenders”).

 

Recitals

 

A.       Pursuant
to the terms of that certain Convertible Note Subscription Agreement, (the “Convertible Note Subscription Agreement”),
the Company issued ten (10) promissory notes in the aggregate original principal amount of $5,500,000 to the Lenders between March
17, 2017 and June 30, 2018 as follows: (i) that certain Unsecured Convertible Promissory Note, dated as of March 17, 2017 in the
aggregate principal amount of $500,000 to Andrew L. Ross, (ii) that certain Unsecured Convertible Promissory Note, dated as of
May 15, 2017 in the aggregate principal amount of $250,000 to Andrew L. Ross, (iii) that certain Unsecured Convertible Promissory
Note, dated as of June 1, 2017 in the aggregate principal amount of $1,050,000 to Anna-Maria and Stephen Kellen Foundation, Inc.,
(iv) that certain Unsecured Convertible Promissory Note, dated as of June 12, 2017 in the aggregate principal amount of $1,450,000
to OBF Investments, LLC, (v) that certain Unsecured Convertible Promissory Note, dated as of June 30, 2017 in the aggregate principal
amount of $250,000 to Andrew L. Ross, (vi) that certain Unsecured Convertible Promissory Note, dated as of December 29, 2017 in
the aggregate principal amount of $650,000 to Anna-Maria and Stephen Kellen Foundation, Inc., (vii) that certain Unsecured Convertible
Promissory Note, dated as of January 3, 2018 in the aggregate principal amount of $700,000 to OBF Investments, LLC, (viii) that
certain Unsecured Convertible Promissory Note, dated as of April 2, 2018 in the aggregate principal amount of $250,000 to Andrew
L. Ross, (ix) that certain Unsecured Convertible Promissory Note, dated as of June 6, 2018 in the aggregate principal amount of
$200,000 to Andrew L. Ross, and (x) that certain Unsecured Convertible Promissory Note, dated as of June 30, 2018 in the aggregate
principal amount of $200,000 to Andrew L. Ross (collectively, the “Notes”).

 

B.       The
Company and the Lenders desire to increase the amount of indebtedness that may be incurred by the Company that is otherwise
not permitted by the terms of Section 5 of the Convertible Note Subscription Agreement, and the Lenders agree to consent to the
incurrence of such indebtedness as set forth herein.

 

Agreement

 

Now,
Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 

    1

     

    

 

1.            Definitions.
Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Notes or Convertible
Note Subscription Agreement, as applicable.

 

2.            Consent
to Incurrence of Secured Indebtedness. The Lenders hereby consent to the incurrence of indebtedness (the “Bridge
Notes”) by the Company up to an amount as approved in the sole discretion of the Board of Directors of the Company (which,
as of the date hereof, is an incremental increase of $1,000,000 to an aggregate amount of $5,000,000 from the originally consented
to amount of $4,000,000), which indebtedness shall be secured by all assets of the Company, pursuant to the terms of that certain
Note Subscription Agreement, dated of the date hereof, between the Company and the investors party thereto.

 

3.            No
Other Amendments. No other amendments are made to the Notes or the Convertible Subscription Agreement.

 

4.            Counterparts.
This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

5.            Governing
Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware.

 

[Signature page follows.]

 

    2

     

    

 

In
Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first
written above.

 

	 	Company:
	 	 
	 	iSpecimen Inc.
	 	 
	 	By: 	/s/ Christopher J. Ianelli
	 	Christopher J. Ianelli
	 	President & CEO
	 	 
	 	Lenders:
	 	 
	 	/s/ Andrew L. Ross
	 	Andrew L. Ross, individually
	 	 
	 	Anna-Maria and Stephen Kellen Foundation, Inc.
	 	 
	 	By: 	               
	 	Name:
	 	Title:
	 	 
	 	OBF Investments, LLC
	 	 
	 	By:	 
	 	Name:
	 	Title:Exhibit 10.15

 

THIRD OMNIBUS Amendment

to

UNSECURED
CONVERTIBLE PROMISSORY NOTES

and

CONVERTIBLE
NOTE SUBSCRIPTION AGREEMENT

 

This Third Omnibus
Amendment to Unsecured Convertible Promissory Notes and Convertible Note Subscription Agreement (this “Amendment”)
is entered into this 15th day of November 2019, between iSpecimen Inc., a Delaware corporation (the “Company”),
and Andrew L. Ross, Anna-Maria and Stephen Kellen Foundation, Inc., and OBF Investments, LLC (collectively, the “Lenders”).

 

Recitals

 

A.            Pursuant
to the terms of that certain Convertible Note Subscription Agreement, (the “Convertible Note Subscription Agreement”),
the Company issued ten (10) promissory notes in the aggregate original principal amount of $5,500,000 to the Lenders between
March 17, 2017 and June 30, 2018 as follows: (i) that certain Unsecured Convertible Promissory Note, dated as of
March 17, 2017 in the aggregate principal amount of $500,000 to Andrew L. Ross, (ii) that certain Unsecured Convertible
Promissory Note, dated as of May 15, 2017 in the aggregate principal amount of $250,000 to Andrew L. Ross, (iii) that
certain Unsecured Convertible Promissory Note, dated as of June 1, 2017 in the aggregate principal amount of $1,050,000 to
Anna-Maria and Stephen Kellen Foundation, Inc., (iv) that certain Unsecured Convertible Promissory Note, dated as of
June 12, 2017 in the aggregate principal amount of $1,450,000 to OBF Investments, LLC, (v) that certain Unsecured Convertible
Promissory Note, dated as of June 30, 2017 in the aggregate principal amount of $250,000 to Andrew L. Ross, (vi) that
certain Unsecured Convertible Promissory Note, dated as of December 29, 2017 in the aggregate principal amount of $650,000
to Anna-Maria and Stephen Kellen Foundation, Inc., (vii) that certain Unsecured Convertible Promissory Note, dated as
of January 3, 2018 in the aggregate principal amount of $700,000 to OBF Investments, LLC, (viii) that certain Unsecured
Convertible Promissory Note, dated as of April 2, 2018 in the aggregate principal amount of $250,000 to Andrew L. Ross, (ix) that
certain Unsecured Convertible Promissory Note, dated as of June 6, 2018 in the aggregate principal amount of $200,000 to Andrew
L. Ross, and (x) that certain Unsecured Convertible Promissory Note, dated as of June 30, 2018 in the aggregate principal
amount of $200,000 to Andrew L. Ross (collectively, the “Notes”).

 

B.            The
Company and the Lenders desire to increase the amount of indebtedness that may be incurred by the Company that is otherwise
not permitted by the terms of Section 5 of the Convertible Note Subscription Agreement, and the Lenders agree to consent to
the incurrence of such indebtedness as set forth herein.

 

Agreement

 

Now,
Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 

    1 

     

    

 

1.            Definitions.
Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Notes or Convertible Note
Subscription Agreement, as applicable.

 

2.            Consent
to Incurrence of Secured Indebtedness. The Lenders hereby consent to the incurrence of
indebtedness (the “Bridge Notes”) by the Company up to an amount as approved in the sole discretion of the Board
of Directors of the Company (which, as of the date hereof, is an incremental increase of $2,000,000 to an aggregate amount of $7,000,000
from the previously amended and consented amount of $5,000,000), which indebtedness shall be secured by all assets of the Company,
pursuant to the terms of that certain Note Subscription Agreement, dated of the date hereof, between the Company and the investors
party thereto.

 

3.            No
Other Amendments. No other amendments are made to the Notes or the Convertible Subscription
Agreement.

 

4.            Counterparts.
This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

5.            Governing
Law. This Amendment shall be governed by and construed in accordance with the laws of
the State of Delaware.

 

[Signature page follows.]

 

    2 

     

    

 

In
Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first
written above.

 

	 	Company:
	 	 
	 	iSpecimen Inc.
	 	 
	 	By:	/s/ Christopher J. Ianelli
	 	 	Christopher J. Ianelli
	 	 	President & CEO
	 	 
	 	Lenders:
	 	
	 	/s/ Andrew L. Ross
	 	Andrew L. Ross, individually
	 	 
	 	Anna-Maria and Stephen Kellen Foundation, Inc.
	 	 
	 	By:	
	 	 	Name:
	 	 	Title:
	 	 
	 	OBF Investments, LLC
	 	 
	 	By: 	                    
	 	 	Name:
	 	 	Title:Exhibit 10.16

 

FOURTH OMNIBUS Amendment

to

UNSECURED
CONVERTIBLE PROMISSORY NOTES

and

CONVERTIBLE
NOTE SUBSCRIPTION AGREEMENT

 

This Fourth Omnibus Amendment to Unsecured Convertible Promissory
Notes and Convertible Note Subscription Agreement (this “Amendment”) is entered into this 29th day
of September 2020, between iSpecimen Inc., a Delaware corporation (the “Company”), and Andrew L. Ross,
Anna-Maria and Stephen Kellen Foundation, Inc., and OBF Investments, LLC (collectively, the “Lenders”).

 

Recitals

 

A.            Pursuant
to the terms of that certain Convertible Note Subscription Agreement, (the “Convertible Note Subscription Agreement”),
the Company issued ten (10) promissory notes in the aggregate original principal amount of $5,500,000 to the Lenders between
March 17, 2017 and June 30, 2018 as follows: (i) that certain Unsecured Convertible Promissory Note, dated as of
March 17, 2017 in the aggregate principal amount of $500,000 to Andrew L. Ross, (ii) that certain Unsecured Convertible
Promissory Note, dated as of May 15, 2017 in the aggregate principal amount of $250,000 to Andrew L. Ross, (iii) that
certain Unsecured Convertible Promissory Note, dated as of June 1, 2017 in the aggregate principal amount of $1,050,000 to
Anna-Maria and Stephen Kellen Foundation, Inc., (iv) that certain Unsecured Convertible Promissory Note, dated as of
June 12, 2017 in the aggregate principal amount of $1,450,000 to OBF Investments, LLC, (v) that certain Unsecured Convertible
Promissory Note, dated as of June 30, 2017 in the aggregate principal amount of $250,000 to Andrew L. Ross, (vi) that
certain Unsecured Convertible Promissory Note, dated as of December 29, 2017 in the aggregate principal amount of $650,000
to Anna-Maria and Stephen Kellen Foundation, Inc., (vii) that certain Unsecured Convertible Promissory Note, dated as
of January 3, 2018 in the aggregate principal amount of $700,000 to OBF Investments, LLC, (viii) that certain Unsecured
Convertible Promissory Note, dated as of April 2, 2018 in the aggregate principal amount of $250,000 to Andrew L. Ross, (ix) that
certain Unsecured Convertible Promissory Note, dated as of June 6, 2018 in the aggregate principal amount of $200,000 to Andrew
L. Ross, and (x) that certain Unsecured Convertible Promissory Note, dated as of June 30, 2018 in the aggregate principal
amount of $200,000 to Andrew L. Ross (collectively, the “Notes”).

 

B.            The
Company and the Lenders desire to amend the definition of Maturity Date of the Notes as set forth herein.

 

C.            The
Company has requested and the Lenders have agreed to amend certain provisions of the Convertible Note Subscription Agreement as
set forth herein.

 

    1 

     

    

 

Agreement

 

Now,
Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 

1.            Definitions.
Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Notes or Convertible Note
Subscription Agreement, as applicable.

 

2.            Amendments
to Convertible Note Subscription Agreement.

 

2.1         Section 1.
Clause (iv) of the definition of “Maturity Date”, as previously amended,
shall be further amended as follows:

 

		Delete:	“March 31 2020 (i.e. the date that is three (3) months following the maturity date of the Bridge Notes (as
defined below), which date may, in the sole discretion of the Board of Directors of the Company, be extended for two successive
three (3) month periods to June 30, 2020 and September 30, 2020, as applicable; provided, however, that if the Bridge
Notes are paid in full prior to their then stated maturity date, the Maturity Date shall revert to June 30, 2019.”

 

		Insert:	“March 31 2021, which date may, in the sole discretion of the Board of Directors of the Company, be extended for
two (2) successive three (3) month periods to June 30, 2021 and September 30, 2021, as applicable; provided,
however, that if the Bridge Notes are paid in full prior to their then stated maturity date, the Maturity Date shall revert to
that date which is ninety days following the date of full repayment of the Bridge Notes.”

 

3.            No
Other Amendments. No other amendments are made to the Notes or the Convertible Note Subscription
Agreement.

 

4.            Counterparts;
Facsimile and Electronic Signatures. This Amendment may be executed in any number of counterparts,
and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute
a single integrated agreement. For purposes of this Amendment, a document (or signature page thereto) signed and transmitted
by facsimile machine, portable document format, or other electronic means is to be treated as an original document. The signature
of any party on any such document, for purposes hereof, is to be considered as an original signature, and the document transmitted
is to be considered to have the same binding effect as an original signature on an original document. No party may raise the use
of a facsimile machine or other electronic means, or the fact that any signature was transmitted through the use of a facsimile
machine or other electronic means, as a defense to the enforcement of this Amendment.

 

5.            Governing
Law. This Amendment shall be governed by and construed in accordance with the laws of
the State of Delaware.

 

    2 

     

    

 

In
Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first
written above.

 

	 	Company:	 
	 	 	 	 
	 	iSpecimen Inc.	 
	 	 	                                                      	 
	 	By: 	/s/ Christopher J. Ianelli	 
	 		Christopher J. Ianelli	 
	 		President & CEO	 

 

	 	Lenders:	 
	 		 
	 	/s/ Andrew L.
    Ross	 
	 	Andrew L. Ross, individually	 
	 	 	                	 
	 	Anna-Maria and Stephen Kellen Foundation, Inc.	 

 

	 	By: 	/s/ Michael M. Kellen	 
	 	 	 	 
	 		Name:     Michael M. Kellen	 
	 		Title:       President	 
	 	 	 	 
	 	OBF Investments, LLC	 

 

	 	By: 	 	 
	 	 	 	 
	 	 	Name:	 
	 	 	Title:

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