Document:

EX-4.8

 EXHIBIT 4.8 

PACIFIC DATAVISION 

AMENDMENT 
 TO
2013 NOTE 
 May 30, 2014 

This Amendment to 2013 Note, effective as of the date set forth above, is entered into by and between Pacific DataVision (the
“Company”) and each of the holders (each a “Holder”) of the 2013 Notes (defined below). 

RECITALS 
 WHEREAS, the
Company issued various Redeemable Convertible Promissory Notes (the “2013 Notes”) pursuant to that certain Note and Warrant Purchase Agreement, dated on or around January 2013. 

WHEREAS, Section 7 of the 2013 Notes provide that each of the 2013 Notes may be amended, waived or modified upon the written consent of
the Company and the Holders of at least a majority of the aggregate principal amount of the 2013 Notes then outstanding (the “Consenting Holders”); provided, however, that the terms of any such amendment, waiver or
modification shall apply equally to all outstanding Notes. 
 WHEREAS, the Company is in the process of completing a recapitalization and
common stock offering pursuant to which the Company shall (i) convert all Series AA Preferred stock of the Company to shares of common stock of the Company, (ii) conduct a reverse-stock split of all outstanding shares of common stock of
the Company on approximately a 20:1 to 45:1 basis, and (iii) offer shares of common stock of the Company in connection with the purchase of spectrum assets from Sprint Corporation. 

WHEREAS, the Consenting Holders now desire to amend the 2013 Notes to provide for an automatic conversion of the 2013 Notes to shares of
common stock of the Company upon the occurrence of certain events as set forth below. 
 NOW, THEREFORE, in consideration of the foregoing
recitals and the mutual promises hereinafter set forth, the Consenting Holders and the Company agree to amend the 2013 Notes as provided herein. 

AGREEMENT 
 1.
Section 1.1 of each of the 2013 Notes is hereby amended and restated in its entirety as follows: 
 “1.1 Payment. The principal balance and
any unpaid but accrued interest hereunder shall be due upon (a) in the event that certain private placement of shares of the common stock of the Company (the “Offering”), with sufficient proceeds to
accomplish the purchase of spectrum assets from Sprint Corporation to the Company pursuant to that certain Asset Purchase 

  
 1 

 
Agreement, dated May 13, 2014, by and between Sprint Corporation and the Company (the “Sprint APA”), has not been completed by June 30, 2014,
payment of the principal balance and any unpaid but accrued interest hereunder is due on June 30, 2014, or (b) in the event that the Offering has been completed on or prior to June 30, 2014, the earlier of the date upon which the FCC
shall to decline to provide the approvals required (the “Required FCC Approval”) for the transfer of spectrum assets from Sprint Corporation to the Company pursuant to the Sprint APA or termination of the Sprint APA pursuant
to its terms (the earlier of such dates, the “FCC Termination Date”). In the event that the Required FCC Approval is obtained prior to the FCC Termination Date, then Section 2.3 shall apply in lieu of payment against
this Note.” 
 2. Section 2.1 of each of the 2013 Notes is hereby amended and restated in its entirety as follows: 

“2.1 [Reserved].” 
 3. Section 2.2
of each of the 2013 Notes is hereby amended by replacing the first sentence of such section with the following: 
 “Unless this Note is repaid pursuant
to Section 1.1 above or automatically converted pursuant to Section 2.3 below, then upon the election of the Holder at any time subsequent to the later of (i) June 30, 2014 or (ii) in the event that the Offering is
completed, the FCC Termination Date, but prior to the date which is five (5) days prior to a Liquidation Event, the entire then-outstanding principal amount of this Note and accrued and unpaid interest thereon (or in each case, any portion
thereof) may be converted into shares of the Company’s Series AA Preferred Stock (the “Series AA Preferred”).” 

4. A new Section 2.3 of each of the 2013 Notes is hereby added to read as follows: 

“2.3. Automatic Conversion. Immediately upon the receipt of the Required FCC Approval, the entire then-outstanding principal amount of this Note
and accrued and unpaid interest thereon, shall automatically and without any further action of the Company or the Holder be converted into a number of shares of common stock of the Company equal to: (a) 140% of the then-outstanding principal
amount of this Note plus accrued and unpaid interest, divided by (b) the price at which shares of the Company’s common stock are offered under the Offering (the “Offering Price”). 

5. Section 3.1 of each 2013 Note is hereby amended by replacing the last sentence of such section with the following: 

“In the event that this Note is not repaid pursuant to Section 1.1 above or automatically converted pursuant to Section 2.3 above, the warrants
shall be detachable and exercisable commencing upon the later of (i) July 1, 2014, or (ii) the FCC Termination Date, and shall expire on January 1, 2018.” 

6. Except as amended hereby, each of the 2013 Notes remains in full force and effect. 

  
 2 

 7. This Amendment to 2013 Note may be executed in counterparts, including electronically, each of
which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties
have caused this Amendment to Redeemable Convertible Promissory Note to be duly executed and delivered by their proper and duly authorized officers as of the date first written above. 

 

			
	“COMPANY”
	
	PACIFIC DATAVISION
		
	 By:
	 	     /s/ John C. Pescatore

	Name: John C. Pescatore
	Title: President and Chief Executive Officer

 “HOLDER” 

THE SIGNATURE PAGE TO PACIFIC DATAVISION CONSENT ACTION EXECUTED BY THE HOLDER IS HEREBY APPENDED HERETO AS EVIDENCE OF SUCH HOLDER’S EXECUTION AND
ADOPTION OF THIS AMENDMENT TO 2013 NOTE. 

  
 3 

 NOTEHOLDERS: 

Andrew Daskalakis 
 Arthur Cahoon 

Brian D. McAuley, as Trusteee for Beth Kathryn McAuley 
 Brian D.
McAuley, as Trusteee for Christian Brian McAuley 
 Brian D. McAuley, as Trusteee for Mary Elizabeth McAuley 

Brian D. McAuley, as Trusteee for Tricia Florence McAuley 
 Brian
D. McAuley 
 Eileen Gildea 
 Goolock Associates 

James Dahl 
 John C. Pescatore 

John C. Sites, Jr. 
 Joseph Oakes 

Michelle Pescatore 
 Morgan O’Brien 

Northwood Capital Partners, LLC 
 Northwood Ventures, LLC 

SK Partners 
 Southfield Communications 

Richard Rohmann 
 Steve Schreiber 

  
 4EX-4.9

 EXHIBIT 4.9 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF
CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION
THEREFROM. HOLDERS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE
ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 PACIFIC
DATAVISION and BRIAN D. McAULEY 
 WORKING CAPITAL ADVANCE AGREEMENT FOR UP TO $3,000,000 

DATED as of AUGUST 1, 2010 
 This
agreement (the “Agreement”) between Pacific DataVision, Inc., a California corporation (the “Company”) and Brian D, McAuley (the Lender) specifies the terms under which the Lender may make periodic advances (individually an
“Advance” or collectively “Advances”) to the Company for its working capital needs. Subject to the terms and conditions of this Agreement, the Company promises to pay (in accordance with the Payment Terms below) to the order of
Brian D. McAuley (the “Lender”) in lawful money of the United States and in immediately available funds, the principal amount of advances made hereunder plus any accrued and unpaid interest. Interest at the rate of ten percent
(10%) per annum shall accrue on the unpaid principal amount of Advances made hereunder. 
 The Advances shall be made by request to
Lender delivered five business days prior to the date when the funds are to be received by the Company. 
 The following is a statement of
the terms and conditions to which each Advance is subject. The Company is deemed to have received such Advances on the date such fund are actually received in the Company’s bank account. By execution of this Agreement, the Company and Lender
agree: 
 Payment Terms. 
 Commencing not later
than September 30, 2015, the Company shall repay to the Lender fifty thousand dollars ($50,000.00) per quarter (on the last day of such quarter) of principal plus interest earned for the quarter then ended until the entire principal shall have
been repaid; thereafter the Company shall pay fifty thousand dollars ($50,000.00) per quarter of previously accrued interest until the entire accrued interest has been paid in full. 

  
 1 

 Prepayment. 

The Company may prepay in whole or in part its obligation under this Agreement without penalty. Such prepayment shall first be applied to reduction of the
principal amount due under this Agreement and when the full amount of the principal is repaid then to a reduction of accrued interest. 
 Events of
Default. 
 The occurrence of any of the following events shall be deemed to constitute an “Event of Default” hereunder: (a) the
failure of the Company after July 1, 2015 to pay the principal and accrued interest under this Agreement; (b) if there is an uncured default with respect to any Note(s) of the Company or (c) any Liquidation Event (as defined below).

 Liquidation Event. If there shall occur (a) any Liquidation Event, the entire unpaid principal and accrued but unpaid interest
of Advances under this Agreement shall automatically become due and payable; (b) any Event of Default (other than a Liquidation Event), then the Lender may declare the entire unpaid principal and accrued but unpaid interest on Advances under
this Agreement immediately due and payable, by notice in writing to the Company. As used herein, “Liquidation Event” means the occurrence or institution by or against the Company of (i) any bankruptcy, reorganization, receivership or
insolvency proceeding, (ii) any appointment of a receiver or custodian for all or a substantial portion of the Company’s property; (iii) any assignment for the benefit of, or composition or arrangement with, the creditors of the
Company (whether or not pursuant to bankruptcy or other insolvency laws), (iv) any dissolution, liquidation, or — other marshalling of the assets and liabilities of the Company or (v) any
transaction that results in the current shareholders owning less than 50% of the outstanding voting securities of the Company. 
 Transfer; Successors
and Assigns. 
 The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of
the Agreement. 
 Waiver and Amendment. 
 Any
provision of this Agreement may be amended, waived or modified only upon the written consent of the Company and the Lender 

 Notices. 

Except as otherwise provided, all notices and other communications required or permitted hereunder shall be in writing, shall be effective when given, and
shall in any event be deemed to be given upon receipt or, if earlier, (i) upon delivery, if delivered by hand, (ii) one (1) business day after the day of deposit with Federal Express or similar overnight courier, freight prepaid, if
delivered by overnight courier or (iii) one (1) business day after — the day of facsimile transmission or electronic delivery and shall be addressed, (a) if to the Lender, at
Lender’s address set forth below, or at such other address as such Lender shall have furnished the Company in writing, or (b) if to the Company, at its address below: 

LENDER 
 Brian D.
McAuley 
 253 Indian Trail Drive 

Franklin Lakes, NJ 07417 

Facsimile: 201-560-9906 

Electronic: bmcauley@aol.com 

COMPANY 
 Pacific
DataVision 
 Attn: Chief Executive Officer 

100 Hamilton Plaza 
 Paterson, New
Jersey 07505 
 Facsimile: 973-473-0303 

Electronic: jpescatore@pdvcorp.com 

Governing Law. 
 This Agreement shall be governed
by and construed in accordance with the laws of the State of New Jersey. Any conflict or claim relating to this Agreement will be settled through binding arbitration. 

Headings; References 
 All headings used herein are
used for convenience only and will not be used to construe or interpret this Agreement. Except where otherwise indicated, all references herein to Sections refer to Sections of this Agreement. 

 

			
	COMPANY:
	
	 Pacific DataVision, Inc.

		
	By:	 	 /s/ John Pescatore

		 	     John Pescatore
		 	     Chief Executive Officer
		
		 	LENDER:
		
	By: 	 	 /s/ Brian D. McAuley

		 	     Brian D. McAuley

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00238-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00238-of-00352.parquet"}]]