Document:

Exhibit
10.2

    

     

    WARRANT
AMENDMENT

     

    This
WARRANT AMENDMENT (this “Amendment”) is dated as of December 22, 2009 by and
among Lihua International, Inc., a Delaware corporation (the “Company”), and the
holders signatory hereto (each a “Holder”, collectively, the
“Holders”).

     

    RECITALS

     

    WHEREAS,
the Company has issued a Series B Warrant to Purchase Shares of Common Stock of
the Company (the “Series B Warrant”) to each of the Holders; and

     

    WHEREAS,
pursuant to Sections 4(d) and (e) of the Series B Warrant, in the event the
Company issues any additional shares of Common Stock or Common Stock Equivalents
(as defined in the Series B Warrant) at a price per share less than the exercise
price of the Series B Warrant, such exercise price shall be reduced to such
lesser price concurrently with the issue or sale; and

     

    WHEREAS,
the Company has requested that the Holders amend the Series B Warrant to delete
Section 4(d), (e) and (f) thereof; and

     

    WHEREAS,
pursuant to Section 11 of the Series B Warrant, no provision of the Series B
Warrant may be amended without the written consent of all of the Holders;
and

     

    NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto hereby agree as
follows:

     

    6.           Amendment. Pursuant
to Section 11 of the Series B Warrant, the Holders hereby amend the Series B
Warrant, as of the date hereof, by deleting Sections 4(d), (e) and (f) in their
entirety.

     

    7.           Effect on Transaction
Documents.  Except as set forth above, the Series B Warrant
shall remain in full force and effect and is hereby ratified and
confirmed.

     

    8.           Governing Law;
Jurisdiction. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York applicable to contracts made
and to be performed in the State of New York.

     

    9.           Counterparts. This
Amendment may be executed in two or more counterparts, all of which shall be
considered one and the same agreement and shall become effective when
counterparts have been signed by each party and delivered to the other
party.

     

    10.         Severability. If any
provision of this Amendment shall be invalid or unenforceable in any
jurisdiction, such invalidity or unenforceability shall not affect the validity
or enforceability of the remainder of this Amendment or the validity or
enforceability of this Amendment in any other jurisdiction.

     

    [SIGNATURE
PAGES OF COMPANY TO FOLLOW]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

    
      	 
      	 
      	 
      	 
	 
      	
              LIHUA
      INTERNATIONAL, INC.

            	 
	 	 	 
	 	 	 
	 
      	
              By:

            	
              /s/
      Zhu Jian Hua

            	 
	 
      	
              Name:

            	
              Zhu
      Jian Hua

            	 
	 
      	
              Title:

            	
              Chief
      Executive Officer

            	 

    

    

     

    

     

    

     

    [THE
REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

     

     

    [SIGNATURE
PAGES OF HOLDERS TO FOLLOW]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

    
      	 
      	 
      	 
      	 
      
	 
      	
              Philip
      Wagenheim

            	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
              By:

            	
              /s/
      Philip Wagenheim

            	 
      
	 
      	
               

            	      
              Philip
      Wagenheim

            	 
      
	 
      	 
      	 
      	 
      

    

    

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

    
      	 
      	 
      	 
      	 
	 
      	
              Michael
      Rapp

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Michael Rapp

            	 
	 
      	 
      	
              Michael
      Rapp

            	 

    

    

    

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

    
      	
               

            	 
      	 
      	 
	 
      	
              Clifford
      Chapman

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Clifford Chapman

            	 
	 
      	 
      	
              Clifford
      Chapman

            	 

    

    

    

    

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

    
      	 
      	 
      	 
      	 
	 
      	
              Charles
      W. Allen

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Charles W. Allen

            	 
	 
      	 
      	
              Charles
      W. Allen

            	 

    

    

    

    

    

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

    
      	 
      	
              Ari
      Raskas

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Arizz Raskas

            	 
	 
      	 
      	
              Ari
      Raskas

            	 

    

    

    

    

    

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

     

    
      	 
      	
              Jeff
      Appel

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Jeff Appel

            	 
	 
      	 
      	
              Jeff
      Appel

            	 

    

    

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

     

    
      	 
      	
              Corby
      T. Hocker

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Corby T. Hocker

            	 
	 
      	 
      	
              Corby
      T. Hocker

            	 

    

    

    

    

    

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

     

    
      	 
      	
              David
      Prince

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      David Prince

            	 
	 
      	 
      	
              David
      Prince

            	 

    

    

    

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

     

    
      	 
      	
              Xue
      Fu Zhen

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Xue Fu Zhen

            	 
	 
      	 
      	
              Xue
      Fu Zhen

            	 

    

    

    

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first written above.

     

    
      	 
      	 
      	 
      	 
	 
      	
              PENUMBRA
      WORLDWIDE, LTD.

            	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	
              By:

            	
              /s/
      Samuel May

            	 
	 
      	 
      	 
      	 
	 
      	
              Name:
      Samuel May

            	 
	 
      	 
      	 
      	 
	 
      	
              Title:
      DirectorExhibit
4.12

    PROMISSORY
NOTE

    

    
      
        
          
            	
                    Borrowers:

                  	 
      	
                    Lender:

                  
	 
      	 
      	 
      
	
                    Onstream
      Media Corporation

                  	 
      	
                    Thermo
      Credit LLC

                  
	
                    1291
      SW 29 Avenue

                  	 
      	
                    639
      Loyola Avenue

                  
	
                    Pompano
      Beach, FL 33069

                  	 
      	
                    Suite
      2565

                  
	
                    ______________________________

                  	 
      	
                    New
      Orleans,
LA  70113

                  

          

        

      

    

    
      	
               

            	
               

            

    

     

    
      
        	
                Principal Amount:

              	
                Maturity Date of Note:

              	
                Date of Note:

              
	
                U.S.
      $1,000,000.00

              	
                December
      28, 2009

              	
                December
      28, 2007

              

      

    

    

    PROMISE
TO PAY.  For value received, the undersigned makers
(hereinafter referred to as “Borrower,” which term means individually,
collectively, and interchangeably any, each and/or all of them), promises to pay
to the order of THERMO CREDIT LLC (“Lender”), or its registered assigns, in
lawful money of the United States of America the sum of One million and No/100
($1,000,000.00) Dollars, or such other or lesser amounts as may be reflected
from time to time on the books and records of Lender as evidencing the aggregate
unpaid principal balance of loan advances made to Borrower.

    

    LOAN
AGREEMENT.  This Note is made
and executed pursuant to, and is subject to, that certain Commercial Business
Loan Agreement among the Borrower and Lender, dated as of December 28, 2007 (as
amended from time to time, the “Loan Agreement”).  All capitalized
terms used in this Note (and not otherwise defined herein) shall have the
meanings defined in the Loan Agreement.

    

    INTEREST
RATE.  Interest
shall accrue on the outstanding principal amount at the rate per annum of Wall
Street Journal Prime Rate plus eight (8.0%) per cent per annum established in
accordance with the Loan Agreement described above between Thermo and
Borrower.  The term "WALL Street Journal Prime Rate" is and shall mean
the variable rate of interest, on a per annum basis, which is announced and/or
published in the Money Rates Section of The Wall Street Journal from time to
time with the rate of interest to change when and as said prime lending rate
changes.  All interest shall be computed on the basis of the actual
number of days elapsed over a year composed of 360 days.  Interest
shall accrue from date of advance.

    

    ADVANCES.  This Note is a
revolving commercial line of credit “master note.”  Advances under
this Note may be requested only as provided in the Loan
Agreement.  Borrower agrees to be liable for all sums either advanced
in accordance with the instructions of an authorized person or credited to any
deposit account of Borrower. The unpaid principal balance owing on this Note at
any time may be evidenced by endorsements on this Note or by Lender’s internal
records, including daily computer print-outs.  Lender will have no
obligation to advance funds under this Note if: (a) a Default has occurred and
is continuing; (b) Borrower ceases doing business or is insolvent; or (c)
Borrower has applied funds provided pursuant to this Note for purposes other
than those permitted by the Loan Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    PAYMENT
SCHEDULE.  Interest on this
Note shall be payable monthly in arrears on the last day of each month,
beginning January 31, 2008 and continuing on the last day of each month until
the maturity date. The balance of all outstanding principal and accrued but
unpaid interest shall be due and payable on December 28, 2009.

    

    EARLY
TERMINATION.  Borrower may
terminate this Note at any time.  If Borrower terminates this Note, or
if Lender accelerates payment of this Note, Borrower understands that, unless
otherwise required by law, any prepaid fees or charges will not be subject to
rebate and will be earned by Lender at the time this Note is
signed.

    

    EARLY
TERMINATION FEE. In the event of early termination of the Note, Thermo
shall receive an Early Termination Fee of Two percent (2.0%) of the highest
aggregate Loan Commitment Amount.

    

    LATE
CHARGE. The
Borrower agrees to pay Lender, on demand, a late charge equal to 5% of any
installment that is not paid within 10 days after it is due and 5% of the
interest portion of the payment due upon the final maturity date of this Note if
that payment is not paid within 10 days after it is due.  This late
charge will never be less than $50.00.  This provision shall not be
deemed to excuse a late payment or be deemed a waiver of any other right Lender
may have, including, without limitation, the right to declare the entire unpaid
principal and interest immediately due and payable.

    

    ADDITIONAL
INTEREST.  If Borrower
defaults under this Note or the Loan Agreement, Lender shall have the right to
prospectively increase the interest rate under this Note by 3% per annum during
the continuance of such default.

    

    LENDER’S
RIGHTS UPON DEFAULT.  Upon the
occurrence of and during the continuation of any Event of Default, Lender shall
have all of the rights and remedies provided in the Loan Agreement.

    

    DEPOSIT
ACCOUNTS.  As collateral
security for repayment of this Note and all renewals and extensions, as well as
to secure any and all other loans, notes, indebtedness and obligations that
Borrower may now and in the future owe to Lender or incur in Lender’s favor,
whether direct or indirect, absolute or contingent, due or to become due, of any
nature and kind whatsoever, Borrower is granting Lender a continuing security
interest in any and all funds that Borrower may now and in the future have on
deposit with Lender, or in certificates of deposit or other deposit accounts
with the Lender as to which Borrower is an account holder.  Borrower
further agrees that upon the occurrence and during the continuance of any Event
of Default, the Lender shall have the right to set off any such funds of the
Borrower in the possession of the Lender against any amounts then due by the
Borrower to the Lender pursuant to this Note.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    COLLATERAL.  This Note is
secured by the Collateral (as defined in the Loan Agreement).

    

    ATTORNEYS’
FEES.  If Lender refers
this Note to an attorney for collection, or files suit against Borrower to
collect this Note, or if Borrower files for bankruptcy or other relief from
creditors, Borrower agrees to pay Lender’s reasonable attorneys’
fees.

    

    NSF CHECK
CHARGES.  In the event that
Borrower makes any payment under this Note by check and Borrower’s check is
returned to Lender unpaid due to nonsufficient funds in Borrower’s deposit
account, Borrower agrees to pay Lender an additional NSF check charge in the
amount of $30.

    

    GOVERNING
LAW.  Borrower agrees
that this Note and the loan evidenced hereby shall be governed under the laws of
the State of Louisiana.  Specifically, this business or commercial
Note is subject to La.
R.S. 9:3509, et
seq.

    

    WAIVERS.  Borrower hereby
waives presentment for payment, protest, notice of protest and notice of
nonpayment, and all pleas of division and discussion, and severally agree that
their obligations and liabilities to Lender hereunder shall be on a “solidary”
or “joint and several” basis.  Borrower agrees that discharge or
release of any party who is or may be liable to Lender for the indebtedness
represented hereby, or the release of any collateral directly or indirectly
securing repayment hereof, shall not have the effect of releasing an other party
or parties, who shall remain liable to Lender, or of releasing any other
collateral that is not expressly released by Lender.  Borrower
additionally agrees that Lender’s acceptance of payment other than in accordance
with the terms of this Note, or Lender’s subsequent agreement to extend or
modify such repayment terms, or Lender’s failure or delay in exercising any
rights or remedies granted to Lender, shall likewise not have the effect of
releasing Borrower from Borrower’s respective obligations to Lender, or of
releasing any collateral that directly or indirectly secures repayment hereof.
In addition, any failure or delay on the part of Lender to exercise any of the
rights and remedies granted to Lender shall not have the effect of waiving any
of Lender’s rights and remedies.  Any partial exercise of any rights
and/or remedies granted to Lender shall furthermore not be construed as a waiver
of any other rights and remedies; it being Borrower’s intent and agreement that
Lender’s rights and remedies shall be cumulative in nature.  Borrower
further agrees that, should any event of default occur or exist under this Note,
any waiver or forbearance on the part of Lender to pursue the rights and
remedies available to Lender, shall be binding upon Lender only to the extent
that Lender specifically agrees to any such waiver or forbearance in
writing.  A waiver or forbearance on the part of Lender as to one
event of default shall not be construed as a waiver or forbearance as to any
other default.  Borrower and each guarantor of this Note further agree
that any late charges provided for under this Note will not be charges for
deferral of time for payment and will not and are not intended to compensate
Lender for a grace or cure period, and no such deferral, grace or cure period
has been or will be granted to Borrower in return for the imposition of any late
charge.  Borrower recognizes that Borrower’s failure to make timely
payment of amounts due under this Note will result in damages to Lender,
including but not limited to Lender’s loss of the use of amounts due, and
Borrower agrees that any late charges imposed by Lender hereunder will represent
reasonable compensation to Lender for such damages.  Failure to pay in
full any installment or payment timely when due under this Note, whether or not
a late charge is assessed, will remain and shall constitute an Event of Default
hereunder.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    SUCCESSORS
AND ASSIGNS LIABLE.  Borrower’s
obligations and agreements under this Note shall be binding upon Borrower’s
successors, heirs, legatees, devisees, administrators, executors and
assigns.  The rights and remedies granted to Lender under this Note
shall inure to the benefit of Lender’s successors and assigns, as well as to any
subsequent holder or holders of this Note.

    

    CAPTION
HEADINGS.  Caption headings
of the sections of this Note are for convenience purposes only and are not to be
used to interpret or to define their provisions.  In this Note,
whenever the context so requires, the singular includes the plural and the
plural also includes the singular.

    

    SEVERABILITY.  If any provision
of this Note is held to be invalid, illegal or unenforceable by any court, that
provision shall be deleted from this Note and the balance of this Note shall be
interpreted as if the deleted provision never existed.

    

    PRIOR TO
SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS
NOTE.  BORROWER AGREES TO THE TERMS OF THE NOTE AND ACKNOWLEDGES
RECEIPT OF A COMPLETED COPY OF THE NOTE.

    

    
      
        
          	 
      	
                  BORROWER:

                
	 
      	 
      
	 
      	
                  Onstream
      Media Corporation

                
	 
      	 
      
	 
      	 
      
	 
      	By:
      	
                  /s/ Randy S. Selman /
  CEO

                

        

      

    

     

    
      
         

      

      
        4

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