Document:

Exhibit 10.2

 

SECOND AMENDMENT TO STOCK PLEDGE AND ESCROW
AGREEMENT

 

This SECOND AMENDMENT TO
STOCK PLEDGE AND ESCROW AGREEMENT (this “Second Amendment”), dated as of February 9, 2012 amends that certain
Stock Pledge and Escrow Agreement dated as of August 16, 2010 between The Amacore Group, Inc., a Delaware corporation (“Pledgor”),
and Vicis Capital Master Fund, a series of the Vicis Capital Master Trust, a trust formed under the laws of the Cayman Islands
(the “Vicis”), and Quarles & Brady LLP, as escrow agent (“Escrow Agent”) (as amended by that certain
First Amendment between the Company, the Purchaser, and the Escrow Agent effective as of June 2, 2011, and as from time to time
hereafter amended, the “Pledge Agreement”). Capitalized terms used in this Second Amendment without definition shall
have the respective meanings ascribed to them in the Pledge Agreement.

 

R E C I T A L S

WHEREAS, Vicis and Pledgor
are parties to a Securities Purchase Agreement dated August 16, 2010 (the “Purchase Agreement”) whereby Pledgor agreed
to sell to Vicis up to $5,000,000 in principal amount of its 15% Senior Secured Convertible Notes due June 30, 2012 (as such Notes
were so amended and restated pursuant to the June Purchase Agreement).

 

WHEREAS, Vicis and Pledgor
are parties to a Securities Purchase Agreement dated June 2, 2011 (the “June Purchase Agreement”), whereby Pledgor
agreed to sell to Vicis up to $2,500,000 in principal amount of its 15% Senior Secured Convertible Notes due June 30, 2012
(the “2012 Notes”), in exchange for up to $2,500,000 cash.

 

WHEREAS, Vicis and Pledgor
are parties to the Amendment No. 1 to Securities Purchase Agreement dated of even date herewith (the June Purchase Agreement as
amended by such First Amendment, the “Amended Purchase Agreement”), whereby Pledgor has agreed to sell to Vicis up
to an additional $1,500,000 in principal amount of its 2012 Notes, in exchange for up to $1,500,000 cash.

 

WHEREAS, it is a condition
precedent to Vicis entering into the Amended Purchase Agreement that Pledgor execute and deliver to Vicis a second amendment to
the Pledge Agreement in the form hereof. This is the Second Amendment to Pledge Agreement referred to in the Amended Purchase Agreement.

 

AGREEMENTS

In consideration of the
recitals and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Pledgor hereby
agrees with Vicis, as follows:

 

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1.Definition
of Notes. Recital B. of the Pledge Agreement shall be deleted and shall be replaced in its entirety with the following:

 

B.Pursuant
to the Securities Purchase Agreement dated August 16, 2010 between Pledgor and Vicis, Vicis has agreed to make a loan of up to
$5,000,000 (the “Loan”) to Pledgor, to be evidenced (as so modified by and in accordance with the Securities
Purchase Agreement dated June 2, 2011, as amended, between Pledgor and Vicis (the “Amended Purchase Agreement”)) by
one or more Amended and Restated 15% Senior Secured Convertible Notes due June 30, 2012, and pursuant to the Amended Purchase Agreement,
Vicis has agreed to make a loan of up to $4,000,000 to Pledgor, to be evidenced by one or more 15% Senior Secured Convertible Notes
due June 30, 2012 (each such amended and restated note due June 30, 2012, and each such note due June 30, 2012, a “Note”
and collectively, the “Notes”).

 

2.Execution.
This Second Amendment may be executed in two or more counterparts, all of which when taken together 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,
it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile
or in other electronic form, such signature shall create a valid and binding obligation of the party executing (or on whose behalf
such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

3.Governing
Law. The validity, construction and effect of this Second Amendment shall be governed by the internal laws of the State of
New York (without giving effect to principles of conflicts of law).

 

4.Ratification.
Except as expressly amended pursuant to this Second Amendment, all terms and conditions of the Pledge Agreement are hereby ratified
and confirmed in all respects and shall continue in full force and effect. All references to the Pledge Agreement shall hereafter
refer to such Pledge Agreement, as amended hereby.

 

5.Conflict.
 In the event of any conflict between the Pledge Agreement and this Second Amendment, the terms of this Amendment shall govern.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the undersigned has
caused this Second Amendment to Pledge and Escrow Agreement to be duly executed and delivered as of the date first above written.

 

	 	
        THE AMACORE GROUP, INC.

        By: /s/ Jay Shafer                 

               Name: Jay Shafer

        Title: CEO

         

         

        VICIS CAPITAL MASTER FUND

          By: Vicis Capital LLC

        By: /s/ Keith W. Hughes       

               Name: Keith W. Hughes

        Title:
 Chief Financial Officer
 

         

 

 

	 	Accepted and Agreed by:
	 	 
	 	ESCROW AGENT:
	 	QUARLES & BRADY LLP
	 	 
	 	 
	 	By:    /s/ Hoyt Stastney
           By: Hoyt
    Stastney, Partner

 

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ACKNOWLEDGMENT AND CONSENT

The undersigned is
an Issuer referred to in the Stock Pledge and Escrow Agreement, dated as of August 16, 2010, made by Pledgor (as defined therein)
in favor of Vicis (as defined therein) (as amended, supplemented or otherwise modified from time to time, the “Pledge
Agreement”), and hereby acknowledges receipt of a copy of the foregoing Second Amendment to Stock Pledge and Escrow Agreement,
dated as of February [__], 2012, made by Pledgor in favor of Vicis (the “Amendment”) amending the Pledge Agreement.
The undersigned agrees for the benefit of Vicis as follows:

1.The undersigned
will be bound by the terms of the Pledge Agreement, as amended by the Amendment, and will comply with such terms insofar as such
terms are applicable to the undersigned.

2.The undersigned
will notify Vicis promptly in writing of the occurrence of any of the events described in paragraph 5(a) of the Pledge Agreement.

 

	 	
        [ISSUER NAME]

         

 

By: _______________Exhibit 10.3

SECOND AMENDMENT TO ESCROW AGREEMENT

 

This SECOND AMENDMENT TO
ESCROW AGREEMENT (this “Second Amendment”), dated as of February 9, 2012, amends that certain Escrow Agreement dated
as of August 16, 2010 between The Amacore Group, Inc., a Delaware corporation (the “Company”), and Vicis Capital Master
Fund, a series of the Vicis Capital Master Trust, a trust formed under the laws of the Cayman Islands (the “Purchaser”),
and Quarles & Brady LLP, as escrow agent (“Escrow Agent”) (as amended by that certain First Amendment to Escrow
Agreement among the Company, the Purchaser, and the Escrow Agent effective as of June 2, 2011, and as from time to time hereafter
amended, the “Escrow Agreement”). Capitalized terms used in this Second Amendment without definition shall have the
respective meanings ascribed to them in the Escrow Agreement.

 

R E C I T A L S

 

WHEREAS, Purchaser and
Company are parties to a Securities Purchase Agreement dated August 16, 2010 (the “August Purchase Agreement”), whereby
the Company agreed to sell to the Purchaser up to $5,000,000 in principal amount of its 15% Senior Secured Convertible Notes
(which Notes were thereafter amended and restated pursuant to the June Purchase Agreement to, among other changes, make the maturity
date of such Notes be June 30, 2012), in exchange for up to $5,000,000 cash.

 

WHEREAS, Purchaser and
Company are parties to a Securities Purchase Agreement dated June 2, 2011 (the “June Purchase Agreement”), whereby
the Company agreed to sell to the Purchaser up to $2,500,000 in principal amount of its 15% Senior Secured Convertible Notes
due June 30, 2012, in exchange for up to $2,500,000 cash.

 

WHEREAS, Purchaser and
Company are parties to the Amendment No. 1 to Securities Purchase Agreement dated February 9, 2012 (the “Amended Purchase
Agreement”), whereby the Company has agreed to sell to the Purchaser up to $1,500,000 in principal amount of its 15%
Senior Secured Convertible Notes due June 30, 2012, in exchange for up to $1,500,000 cash (the “Purchase Price”).

 

WHEREAS, the parties wish
to have the Escrow Agent hold the Purchase Price in an escrow account and to release funds held in such account in accordance with
the terms of the Escrow Agreement as amended hereby.

 

NOW, THEREFORE, the Purchaser
and Company, intending to be legally bound, hereby agree as follows:

 

	1. 		Additional Deposit into Escrow. In accordance with Section 1.4(e) of the Amended
Purchase Agreement, the Purchaser shall deposit into the Escrow Account an aggregate of $1,500,000 cash in accordance with the
terms of Section 3 of the Escrow Agreement (which $1,500,000 cash shall be in addition to the $2,500,000 cash previously deposited
by the Purchaser in the Escrow Account pursuant to the August Purchase Agreement and $2,500,00 cash previously deposited pursuant
to the June Purchase Agreement).        

    	1

    	 

    

 

 

	2. 		Execution. This Second Amendment may be executed in two or more counterparts,
all of which when taken together 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, it being understood that both parties need not sign the same counterpart.
In the event that any signature is delivered by facsimile or in other electronic form, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such signature page were an original thereof. 

 

	3. 		Governing Law. The validity, construction and effect of this Second Amendment
shall be governed by the internal laws of the State of New York (without giving effect to principles of conflicts of law). 

 

	4. 		Ratification. Except as expressly amended pursuant to this Second Amendment,
all terms and conditions of the Escrow Agreement are hereby ratified and confirmed in all respects and shall continue in full
force and effect. All references to the Escrow Agreement shall hereafter refer to such Escrow Agreement, as amended hereby. 

 

	5. 		Conflict.  In the event of any conflict between the Escrow Agreement and
this Second Amendment, the terms of this Second Amendment shall govern. 

 

[Signature Page Follows]

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IN WITNESS WHEREOF, the
parties have caused this Second Amendment to Escrow Agreement to be duly executed by their duly authorized representatives as of
the day and year first above written.

 

	 	
        COMPANY:

         

THE AMACORE GROUP, INC.

         

        

         

        /s/ Jay Shafer           

        Name: Jay Shafer

        Title: CEO for Amacore

         

         

         

        PURCHASER:

         

        VICIS CAPITAL MASTER FUND

        By: Vicis Capital LLC

         

         

         

        /s/ Keith W. Hughes        

        Name: Keith W. Hughes

        Title: Chief Financial Officer

         

         

        ESCROW AGENT:

         

        Quarles & Brady LLP

         

         

         

        By: /s/ Hoyt R. Stastney     

     By: Hoyt Stastney, Partner

         

 

 

 

 

3

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