Document:

Blueprint

  Exhibit 10.2

 

AMENDMENT NO. 1 TO THE AMENDED AND RESTATED

SECURITY AGREEMENT

 

THIS
AMENDMENT NO. 1 TO AMENDED AND
RESTATED SECURITY AGREEMENT (the “Amendment”), dated as of
October 10, 2019, is entered by and among Flux Power, Inc., a
California corporation (the “Company”), Esenjay
Investments, LLC, Cleveland Capital, L.P., Otto Candies, Jr., Paul
Candies, Brett Candies, Winn Interest, Ltd., David A. Modesett,
Helen M. Tabone and additional parties that join this Amendment as
a secured party (each a “Secured Party,” and
collectively, the “Secured Parties”), and
Esenjay Investments, LLC (“Esenjay”), in its
capacity as the collateral agent.

 

WHEREAS, the Company, Esenjay, and the
Secured Parties are the parties to that certain Amended and
Restated Security Agreement dated March 28, 2019
(“Security
Agreement”); and

 

WHEREAS, the Company and the Secured
Parties desire to amend the Security Agreement pursuant to the
Second Amended and Restated Credit Facility Agreement, dated
October 10, 2019, by and among the Company and the Secured Parties
(the “Restated
Credit Facility Agreement”), to increase the maximum
amount of the Advances (as defined in the Restated Credit Facility
Agreement) from Seven Million Dollars ($7,000,000) to Ten Million
Dollars ($10,000,000).

 

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.           Reference
to the Credit Facility Agreement. From and after the date of
this Agreement, each reference in the Security Agreement to the
“Credit Facility Agreement” shall mean and be a
reference to the Restated Credit Facility Agreement.

 

2.           Miscellaneous.

 

2.1           The
execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any
right, power or remedy of the Secured Parties under the Security
Agreement nor constitute a waiver of any provision of the Security
Agreement.

 

2.2           Except
as expressly amended and modified by this Amendment, the Security
Agreement is and shall continue to be in full force and effect in
accordance with the terms thereof.

 

2.2           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.

 

2.3           The
Amendment shall be construed in accordance and governed by the
internal laws of the state of California.

 

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

 

[SIGNATURE
PAGE FOLLOWS]

 

 

1

 

 

IN WITNESS WHEREOF, the parties hereto
have caused this Amendment No. 1 to the Amended and Restated
Security Agreement to duly executed as of the day and year first
written above. 

 

	
 

	

THE COMPANY

 

Flux
Power, Inc.,

a
California corporation

 

 

________________________________

Ronald
Dutt, Chief Executive Officer

	
 

	

 

SECURED PARTIES

 

Esenjay
Investments, LLC

 

 

________________________________

Name:                                                                 

Title:                                                                 

	
 

	

 

Cleveland
Capital, L.P.

 

 

________________________________

Name:
________________________________

Title:
________________________________

	
 

	

 

 

________________________________

Otto
Candies, Jr.

 

	
 

	

 

________________________________

Paul
Candies

 

 

	
 

	
________________________________

Brett
Candies

 

	
 

	

Winn
Interest, Ltd.

 

________________________________

Name:
________________________________

Title:
________________________________

 

________________________________

David
A. Modesett

 

 

________________________________________

Helen
M. Tabone

	
 

	
 

 

 

2

 

 

	
 

	

Collateral Agent

	
 

	

 

Esenjay
Investments, LLC

 

 

________________________________

Name:
________________________________

Title:
________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3Blueprint

  Exhibit
10.3

 

AMENDMENT TO THE SECURED PROMISSORY NOTE

 

THIS
AMENDMENT TO THE SECURED PROMISSORY
NOTE (the “Amendment”), dated as of
October __, 2019, is entered into by Flux Power, Inc., a California
corporation (“Borrower”) and 
(“Holder”).

 

WHEREAS, Borrower and Holder are parties
to that certain Secured Promissory Note, dated as of ________, 2019
(the “Promissory
Note”); and

 

WHEREAS, Borrower and Holder desire to
amend the Promissory Note pursuant to the Second Amended and
Restated Credit Facility Agreement, dated October __, 2019, by and
between Borrower, Holder and certain other lenders (the
“Credit Facility
Agreement”), to increase the maximum amount of the
Advances (as defined in the Credit Facility Agreement) from Seven
Million Dollars ($7,000,000) to Ten Million Dollars
($10,000,000).

 

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 the Promissory Note. It is hereby agreed and understood
that the Promissory Note shall be amended as follows:

 

1.1           Advances.
Paragraph No. 1 of the Promissory Note entitled
“Advances” is hereby amended and restated in its
entirety to read as follows:

 

“1.           Advances.
So long as there is no Event of Default (as defined below in
Section 4), Holder shall at its sole discretion provide Advances
hereunder so long as the total of all unpaid Advances at the time
of such request does not exceed Ten Million Dollars ($10,000,000)
(the “Maximum
Amount”). If, at any time
or for any reason, the amount of Advances pursuant to the Notes
owed by Borrower to Lenders exceeds the Maximum Amount, Borrower
shall immediately pay to Lenders, based on the Lender’s Pro
Rata Percentage, in cash, the amount of such excess. For the
purpose of this Note, “Pro Rata
Percentage” shall mean
such Lender’s interest in the LOC equal to the amount of all
Advances made by such Lender divided by the aggregate amount of all
Advances made by the Lenders.”

 

1.2           

Security
Agreement. The third paragraph
of the Promissory Note shall be amended and restated in its
entirety to read as follows:

 

“THE OBLIGATIONS DUE UNDER THIS NOTE ARE
SECURED BY AN AMENDED AND RESTATED SECURITY AGREEMENT (AS AMENDED
FROM TIME TO TIME, THE “SECURITY
AGREEMENT”) EXECUTED BY
THE BORROWER FOR THE BENEFIT OF HOLDER AND THE OTHER LENDERS.
ADDITIONAL RIGHTS OF THE HOLDER AND THE OTHER LENDERS ARE SET FORTH
IN THE SECURITY AGREEMENT.”

 

 

1

 

 

2.           Miscellaneous.

 

2.1           Except
as expressly amended and modified by this Amendment, the Promissory
Note is and shall continue to be in full force and effect in
accordance with the terms thereof.

 

2.2           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.

 

2.3           The
Amendment shall be construed in accordance and governed by the
internal laws of the state of California.

 

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

 

[SIGNATURE
PAGE FOLLOWS]

 

 

2

 

   

IN WITNESS WHEREOF, the parties hereto
have caused this Amendment to the Secured Promissory Note to be
duly executed as of the day and year first written
above. 

 

	
 

	

BORROWER

 

Flux
Power, Inc.,

a
California corporation

 

 

 

________________________________

Ronald
Dutt, Chief Executive Officer

	
 

	

 

HOLDER

 

 

 

________________________________

 

Name:
________________________

 

 

3Blueprint

  Exhibit 10.4

 

AMENDMENT TO THE AMENDED AND RESTATED

SECURED PROMISSORY NOTE

 

THIS
AMENDMENT TO AMENDED AND RESTATED
SECURED PROMISSORY NOTE (the “Amendment”), dated as of
October 10, 2019, is entered into by Flux Power, Inc., a California
corporation (“Borrower”) and Esenjay
Investments, LLC (“Holder”).

 

WHEREAS, Borrower and Holder are parties
to that certain Amended and Restated Secured Promissory Note, dated
as of March 28, 2019 (the “Promissory Note”);
and

 

WHEREAS, Borrower and Holder desire to
amend the Promissory Note pursuant to the Second Amended and
Restated Credit Facility Agreement, dated October 10, 2019, by and
between Borrower, Holder and certain other lenders (the
“Credit Facility
Agreement”), to increase the maximum amount of the
Advances (as defined in the Credit Facility Agreement) from Seven
Million Dollars ($7,000,000) to Ten Million Dollars
($10,000,000).

 

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 the Promissory Note. It is hereby agreed and understood
that the Promissory Note shall be amended as follows:

 

1.1           Advances.
Paragraph No. 1 of the Promissory Note entitled
“Advances” is hereby amended and restated in its
entirety to read as follows:

 

“1.           Advances.
So long as there is no Event of Default (as defined below in
Section 4), Holder shall at its sole discretion provide Advances
hereunder so long as the total of all unpaid Advances at the time
of such request does not exceed Ten Million Dollars ($10,000,000)
(the “Maximum
Amount”). If, at any time
or for any reason, the amount of Advances pursuant to the Notes
owed by Borrower to Lenders exceeds the Maximum Amount, Borrower
shall immediately pay to Lenders, based on the Lender’s Pro
Rata Percentage, in cash, the amount of such excess. For the
purpose of this Note, “Pro Rata
Percentage” shall mean
such Lender’s interest in the LOC equal to the amount of all
Advances made by such Lender divided by the aggregate amount of all
Advances made by the Lenders.”

 

1.2           

Security
Agreement. The third paragraph
of the Promissory Note shall be amended and restated in its
entirety to read as follows:

 

“THE OBLIGATIONS DUE UNDER THIS NOTE ARE
SECURED BY AN AMENDED AND RESTATED SECURITY AGREEMENT (AS AMENDED
FROM TIME TO TIME, THE “SECURITY
AGREEMENT”) EXECUTED BY
THE BORROWER FOR THE BENEFIT OF HOLDER AND THE OTHER LENDERS.
ADDITIONAL RIGHTS OF THE HOLDER AND THE OTHER LENDERS ARE SET FORTH
IN THE SECURITY AGREEMENT.”

 

 

1

 

 

2.           Miscellaneous.

 

2.1           Except
as expressly amended and modified by this Amendment, the Promissory
Note is and shall continue to be in full force and effect in
accordance with the terms thereof.

 

2.2           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.

 

2.3           The
Amendment shall be construed in accordance and governed by the
internal laws of the state of California.

 

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

 

[SIGNATURE
PAGE FOLLOWS]

 

 

2

 

 

IN WITNESS WHEREOF, the parties hereto
have caused this Amendment to the Amended and Restated Secured
Promissory Note to be duly executed as of the day and year first
written above. 

 

	
 

	

BORROWER

 

Flux
Power, Inc.,

a
California corporation

 

 

 

________________________________

Ronald
Dutt, Chief Executive Officer

	
 

	

 

HOLDER

 

Esenjay
Investments, LLC

 

 

 

________________________________

Name:___________________________

Title:____________________________

 

 

 

3

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