Document:

Exhibit
10.41

 

THIRD
AMENDMENT TO PROMISSORY NOTE

 

THIS
THIRD AMENDMENT TO PROMISSORY NOTE (the “Amendment”), dated as of November 19, 2014 (the “Effective
Date”), is entered into by and between Infinity Energy Resources, Inc., a Delaware corporation (the “Company”)
and SKM Partnership, Ltd., a Texas limited partnership (the “Holder”).

 

WHEREAS,
the Company and the Holder are parties to that certain 8% Promissory Note, dated December 27, 2013, as amended by that certain
First Amendment to Promissory Note, dated March 7, 2013, and that Second Amendment to Promissory Note, dated May 9, 2014 (the
“Note”); and

 

WHEREAS,
the Company and the Holder desire to amend the Note to extend the maturity date thereof as set forth herein; and

 

WHEREAS,
effective even herewith, the parties have entered into that certain Loan Extension Agreement to document certain agreements and
understandings made between them related to the subject matter of this Amendment.

 

NOW,
THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, it is hereby agreed by each party hereto as follows:

 

		1.	Amendment
                                         to Section 3 of the Note. It is hereby agreed and understood that, effective as of
                                         the Effective Date, Section 3 of the Note shall be amended as follows: By deleting the
                                         date “December 7, 2014” where it appears in Section 3 of the Note, and replacing
                                         it with the date “April 7, 2015”.
	 	 	 
		2.	No
                                         Other Amendments. Except as expressly amended and modified by this Amendment, the
                                         Note is and shall continue to be in full force and effect in accordance with the terms
                                         thereof
	 	 	 
		3.	Counterparts.
                                         This Amendment may be executed by the parties hereto in counterparts, and all of such
                                         counterparts taken together shall be deemed to constitute one and the same instrument.
	 	 	 
		4.	Governing
                                         Law. The Amendment shall be construed in accordance and governed by the internal
                                         laws of the state of Texas.
	 	 	 
		5.	Headings.
                                         The headings contained in this Amendment are for ease of reference only and shall not
                                         be considered in construing this Amendment.

 

[Signature
Page Next Page]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Third Amendment to the Promissory Note to be duly executed as of the Effective
Date.

 

	INFINITY
    ENERGY RESOURCES, INC.	 
	 	 	 
	By:	/s/ Stanton
    E. Ross	 
	Name:	Stanton
    E. Ross	 
	Its:	President
    and Chief Executive Officer	 
	 	 	 
	SKM PARTNERSHIP, LTD.	 
	 	 	 
	BY
    	SKM
    MANAGEMENT, LLC	 
	ITS
    	GENERAL
    PARTNER	 
	 	 	 
	By:	/s/ Scott D.
    Martin	 
	Name:	Scott
    D. Martin	 
	Its:	Manager
    of its General PartnerExhibit
10.42

 

THIRD
AMENDMENT TO COMMON STOCK PURCHASE WARRANT

 

THIS
THIRD AMENDMENT TO COMMON STOCK PURCHASE WARRANT (the “Amendment”), dated as of November 19, 2014 (the “Effective
Date”), is entered into by and between Infinity Energy Resources, Inc., a Delaware corporation (the “Company”)
and SKM Partnership, Ltd., a Texas limited partnership (the “Holder”).

 

WHEREAS,
the Company issued to Holder that certain Common Stock Purchase Warrant, dated December 27, 2013, as amended by that certain First
Amendment to Common Stock Purchase Warrant, dated March 7, 2014 and that certain Second Amendment to Common Stock Purchase Warrant,
dated May 9, 2014 (the “Warrant”); and

 

WHEREAS,
the Company and the Holder desire to reflect the extension of the maturity date made to that certain 8% Promissory Note issued
by the Company in favor of the Holder on December 27, 2013, as amended by that certain First Amendment to Promissory Note, dated
March 7, 2014, and that certain Second Amendment to Promissory Note, dated May 9, 2014, pursuant to that certain Third Amendment
to Promissory Note, dated even herewith; and

 

WHEREAS,
effective even herewith, the parties have entered into that certain Loan Extension Agreement to document certain agreements and
understandings made between them related to the subject matter of this Amendment.

 

NOW,
THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, it is hereby agreed by each party hereto as follows:

 

	 	1.	Amendment to Initial Exercise
Price. It is hereby agreed and understood that the amount “$1.50” wherever it appears on the first page of the
Warrant is hereby deleted and replaced with the amount of “$1.00”. In addition to the foregoing, the preamble of the
Warrant shall be amended by deleting the phrase “at a price of One Dollar Fifty Cents ($1.50) per Share” where
it appears therein, and replacing it with the phrase “at a price of One Dollar ($1.00) per Share”.
	 	 	 
	 	2.	Amendment to Section 1.1
of the Warrant. It is hereby agreed and understood that Section 1.1 of the Warrant shall be amended as follows: By deleting
the following phrase: “three hundred forty-five (345) days from the issuance of this Warrant (i.e., December 7, 2014)”
where it appears in Section 1.1 of the Warrant, and replacing it with the following phrase: “four hundred sixty-six (466)
days from the issuance of this Warrant (i.e., April 7, 2015”)”.
	 	 	 
	 	3.	Amendment to Section 2.1
of the Warrant. It is hereby agreed and understood that Section 2.1 of the Warrant shall be amended as follows: By deleting
the following phrase: “on or before the three hundred forty-fifth (345th) day of the issuance of this Warrant”
where it appears in Section 2.1 of the Warrant, and replacing it with the following phrase: “on or before the four hundred
sixty-sixth (466th) day of the issuance of this Warrant”.
	 	 	 
	 	4.	No Other Amendments.
Except as expressly amended and modified by this Amendment, the Warrant is and shall continue to be in full force and effect in
accordance with the terms thereof.
	 	 	 
	 	5.	Counterparts. This Amendment
may be executed by the parties hereto in counterparts, and all of such counterparts taken together shall be deemed to constitute
one and the same instrument.

 

		6.	Governing
                                         Law. The Amendment shall be construed in accordance and governed by the internal
                                         laws of the state of Texas.

 

		7.	Headings.
                                         The headings contained in this Amendment are for ease of reference only and shall not
                                         be considered in construing this Amendment.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Third Amendment to Common Stock Purchase Warrant to be duly executed as of
the Effective Date.

 

	COMPANY:	 
	 	 
	INFINITY
    ENERGY RESOURCES, INC.	 
	 	 	 
	By:	/s/
    Stanton E. Ross	 
	Name:	Stanton
    E. Ross	 
	Its:	President
    and Chief Executive Officer	 
	 	 	 
	SKM
    PARTNERSHIP, LTD.	 
	 	 	 
	BY
    	SKM
    MANAGEMENT, LLC	 
	ITS	GENERAL
    PARTNER	 
	 
	 	 
	By:	/s/
    Scott D. Martin	 
	Name:	Scott
    D. Martin	 
	Its:	Manager
    of its General PartnerExhibit
10.43

 

FIRST
AMENDMENT TO THE REVENUE SHARING AGREEMENT

 

THIS
FIRST AMENDMENT TO THE REVENUE SHARING AGREEMENT (the “Amendment”), dated as of November 19, 2014 (the “Effective
Date”), is entered into by and between Infinity Energy Resources, Inc., a Delaware corporation (the “Company”)
and SKM Partnership, Ltd., a Texas limited partnership (the “Holder”).

 

WHEREAS,
effective May 30, 2014, the parties entered into that certain Revenue Sharing Agreement (the “Agreement”) which
granted the Holder a Revenue Sharing Payment (as defined therein) equal to ONE HALF OF ONE PERCENT (1/2%) of all Gross Revenues
(as defined therein) in accordance with the terms and conditions set forth therein; and

 

WHEREAS,
pursuant to the terms of the Agreement, in the event that the Company did not repay all amounts owing under the Note (as defined
therein) in full on or prior to August 7, 2014, then the royalty percentage payable to the Holder under the Revenue Sharing Payment
would automatically, without the need for any further action of the parties, be increased from ONE HALF OF ONE PERCENT (1/2%)
to ONE PERCENT (1%); and

 

WHEREAS,
the Company did not repay all amounts owing under the Note in full on or prior to August 7, 2014, and as a consequence thereof,
the royalty percentage payable to the Holder under the Revenue Sharing Payment automatically increased from ONE HALF OF ONE PERCENT
(1/2%) to ONE PERCENT (1%); and

 

WHEREAS,
the parties desire to document that the Revenue Sharing Payment has been increased from ONE HALF OF ONE PERCENT (1/2%) to ONE
PERCENT (1%).

 

NOW,
THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, it is hereby agreed by each party hereto as follows:

 

		1.	Amendment
                                         to Section 2 of the Agreement (Gross Revenue Royalties). It is hereby agreed and
                                         understood that, effective as of the Effective Date, Section 2 of the Agreement shall
                                         be amended as follows: By deleting the phrase “ONE HALF OF ONE PERCENT (1/2%)”
                                         where it appears therein, and replacing such phrase with the following phrase: “ONE
                                         PERCENT (1%)”.

 

		2.	No
                                         Other Amendments. Except as expressly amended and modified by this Amendment, the
                                         Agreement is and shall continue to be in full force and effect in accordance with the
                                         terms thereof

 

		3.	Counterparts.
                                         This Amendment may be executed by the parties hereto in counterparts, and all of such
                                         counterparts taken together shall be deemed to constitute one and the same instrument.

 

		4.	Governing
                                         Law. The Amendment shall be construed in accordance and governed by the internal
                                         laws of the state of Texas.

 

		5.	Headings.
                                         The headings contained in this Amendment are for ease of reference only and shall not
                                         be considered in construing this Amendment.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this First Amendment to the Revenue Sharing Agreement to be duly executed as of
the Effective Date.

 

	INFINITY
    ENERGY RESOURCES, INC.	 
	 	 	 
	By:	/s/ Stanton
    E. Ross	 
	Name:	Stanton
    E. Ross	 
	Its:	President
    and Chief Executive Officer	 
	 
	 	 
	SKM
    PARTNERSHIP, LTD.	 
	 	 	 
	BY	SKM
    MANAGEMENT, LLC	 
	ITS	GENERAL
    PARTNER	 
	 	 	 
	By:	/s/ Scott D.
    Martin	 
	Name:	Scott
    D. Martin	 
	Its:	Manager
    of its General Partner	 

 

    	 

    	 

    

  

Exhibit
A

 

Amended
and Restated Revenue Sharing Agreement

 

Attached

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