Document:

vism_ex102.htm

EXHIBIT 10.2
  
 AMENDMENT #1
  
 THIS AMENDMENT #1 to the Transaction Documents (as defined below) (the “Amendment”) is entered into as of September 8, 2022 (the “Effective Date”), by and between Visium Technologies, Inc., a Florida corporation (the “Company”), and ____________________, a Delaware limited liability company (the “Holder”) (collectively the“Parties”).
  
 BACKGROUND
  
 A. The Company and Holder are the parties to that certain disbursement authorization, officer’s certificate, promissory note in the principal amount of $270,000.00 (the “Note”), and securities purchase agreement (the “Purchase Agreement”) all dated February 1, 2022 (as amended from time to time, the “Transaction Documents”); and
  
 B. The Parties desire to amend the Transaction Documents as set forth expressly below.
  
 NOW THEREFORE, in consideration of the execution and delivery of the Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
  
 1. Holder waives all rights under Sections 3.20 and 4.17 of the Note.
  
 2. In exchange for the Holder’s execution of this Amendment, the Company shall issue a common stock purchase warrant to Holder for the purchase of 43,200,000 shares of Common Stock, a form of which is attached hereto as Exhibit A.
  
 3. The reference to “within ninety (90) calendar days following the date that the Registration Statement is initially filed” in Section 3.19 of the Note shall be replaced with “on or before October 31, 2022”.
  
 4. This Amendment shall be deemed part of, but shall take precedence over and supersede any provisions to the contrary contained in the Transaction Documents. Except as specifically modified hereby, all of the provisions of the Transaction Documents, which are not in conflict with the terms of this Amendment, shall remain in full force and effect.
  
 [Signature page to follow]
  
  
 	 
	 1

	

	 

 
 
  
 
 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.
  
  	 Visium Technologies, Inc.
	 	 	 	 
	  
	  
	  
	  
	  
	  

	 By:
		 	By:		 
	 Name:
	Mark Lucky	 	Name:		 
	 Title:
	Chief Executive Officer	 	Title:	Member	 

 
  
  	 
	 2Exhibit
4.3

 

THE
SECURITIES REFERENCED HEREIN HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT
WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED
UNDER THE SECURITIES ACT OF 1933.

 

CONVERTIBLE
PROMISSORY NOTE

 

	$500,000	March
    1, 2022
	 	Ponte Vedra,
    Florida

 

For
value received, Cadrenal Therapeutics, Inc., a Delaware corporation (the “Company”), promises to pay to The Entrust Group
FBO John Raymond Murphy - Roth IRA account ### (the “Holder”), the principal sum of five hundred thousand dollars ($500,000).
Interest shall accrue from the date of this Note on the unpaid principal amount at a rate equal to five percent (5.0%) per annum, simple
interest, computed on the basis of the 360-day year of twelve 30-day months. This Note is one of a series of Convertible Promissory Notes
containing substantially identical terms and conditions issued pursuant to that the Company’s $2 Million Convertible Note Offering
(the “Offering”) and the subscription agreement executed by Holder thereunder (the “Subscription Agreement”).
Such Notes are referred to herein as the “Notes,” and the holders thereof are referred to herein as the “Holders.”
Capitalized terms not otherwise defined herein have the meaning given them in the Subscription Agreement. This Note is subject to the
following terms and conditions.

 

1.
Maturity. Unless converted as provided in Section 2, principal and any accrued but unpaid interest under this Note shall be due
and payable upon demand of Holder at any time after the third anniversary of the date of this Note (the “Maturity Date”).
Notwithstanding the foregoing, the entire unpaid principal sum of this Note, together with accrued and unpaid interest thereon, shall
become immediately due and payable upon the commission of any act of bankruptcy by the Company, the execution by the Company of a general
assignment for the benefit of creditors, the filing by or against the Company of a petition in bankruptcy or any petition for relief
under the federal bankruptcy act or the continuation of such petition without dismissal for a period of 90 days or more, or the appointment
of a receiver or trustee to take possession of the property or assets of the Company.

 

2.
Next Equity Conversion.

 

(a)
Next Equity Financing. On or before the Maturity Date, principal and (at the Company’s option) any accrued but unpaid interest
under this Note automatically shall be converted into equity securities issued and sold at the initial closing of the Company’s
next equity financing (the “Next Equity Securities”) in a single transaction or a series of related transactions yielding
gross proceeds to the Company of at least $3,000,000 (including conversion of the Notes) (the “Next Equity Financing”).

 

     

     

    

 

(b)
Terms of Conversion. The number of shares of Next Equity Securities to be issued upon such conversion shall be equal to the quotient
obtained by dividing (i) the entire principal amount of this Note plus (if applicable) any accrued but unpaid interest under this Note
by (ii) [eighty percent (80%)] of the price per share of the Next Equity Securities sold in the Next Equity Financing (the “Note
Conversion Rate”) and the issuance of such securities upon such conversion shall be upon the terms and subject to the conditions
applicable to the Next Equity Financing and the Company’s Certificate of Incorporation and Bylaws and/or other governing documents,
as determined by the Company and its investors in their sole discretion. If the Company elects to convert accrued interest into Next
Equity Securities, this election shall apply equally to all of the Notes. Upon such conversion of this Note, the Holder hereby agrees
to execute and deliver to the Company all transaction documents related to the Next Equity Financing, including a purchase agreement
and other ancillary agreements, with customary representations and warranties and transfer restrictions (including a lock-up agreement
in connection with an initial public offering).

 

3.
Change of Control. In the event of a Change of Control (as defined below) which occurs prior to repayment in full of this Note,
immediately prior to such Change of Control, the outstanding principal and any accrued but unpaid interest on this Note shall convert
directly into common equity of the Company (or directly into proceeds paid to the holders of common equity in connection with the Change
of Control) at a price per share that is 80% of the price per share of common equity paid at the Change of Control. The term “Change
of Control” means (i) a sale of all or substantially all of the Company’s assets other than to an Excluded Entity (as defined
below), (ii) a merger, consolidation or other capital reorganization or business combination transaction of the Company with or into
another corporation, limited liability company or other entity other than an Excluded Entity, or (iii) the consummation of a transaction,
or series of related transactions, in which any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) becomes the “beneficial owner” (as defined in Rule 13d-3
of the Exchange Act), directly or indirectly, of all of the Company’s then outstanding voting securities.

 

Notwithstanding
the foregoing, a transaction shall not constitute a Change of Control if its sole purpose is to (A) change the jurisdiction of the Company’s
organization, formation or incorporation, (B) create a holding company that will be owned in substantially the same proportions by the
persons who hold the Company’s securities immediately before such transaction, or (C) obtain funding for the Company in a financing
that is approved by the Company’s Board of [Managers/Directors]. An “Excluded Entity” means a corporation or other
entity of which the holders of voting securities of the Company outstanding immediately prior to such transaction are the direct or indirect
holders of voting securities representing at least a majority of the votes entitled to be cast by all of such corporation’s or
other entity’s voting securities outstanding immediately after such transaction.

 

4.
Mechanics and Effect of Conversion. No fractional shares of the Company’s equity will be issued upon conversion of this
Note. In lieu of any fractional share to which the Holder would otherwise be entitled, the Company will pay to the Holder in cash the
amount of the unconverted principal and interest balance of this Note that would otherwise be converted into such fractional share. Upon
conversion of this Note pursuant to Section 2, the Holder shall surrender this Note, duly endorsed, at the principal offices of the Company
or any transfer agent of the Company. At its expense, the Company will, as soon as practicable thereafter, issue the number of securities
to which such Holder is entitled upon such conversion, together with any other securities and property to which the Holder is entitled
upon such conversion under the terms of this Note, including a check payable to the Holder for any cash amounts payable as described
herein and shall deliver to such Holder, at such principal office, a certificate or certificates for the number of securities to which
such Holder is entitled upon such conversion. Upon conversion of this Note, the Company will be forever released from all of its obligations
and liabilities under this Note with regard to that portion of the principal amount and accrued interest being converted including without
limitation the obligation to pay such portion of the principal amount and accrued interest. Upon conversion of the principal amount of
this Note into the Company’s equity securities, any interest accrued on this Note that is not by reason of Section 2 simultaneously
converted into such equity securities shall be immediately paid to the Holder.

 

    2

     

    

 

5.
Payment; Prepayment. All payments shall be made in lawful money of the United States of America at such place as the Holder hereof
may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable
and the remainder shall be applied to principal. The Company may prepay this Note at any time without penalty.

 

6. Stockholders,
Officers and Directors Not Liable. In no event shall any stockholder, officer or director of the Company be liable for any amounts
due or payable pursuant to this Note.

 

7. Interest
Rate Limitation. Notwithstanding anything to the contrary contained in this Note, the interest paid or agreed to be paid under this
Note shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If the
Holder shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal remaining
owed under this Note or, if it exceeds such unpaid principal, refunded to the Company. In determining whether interest contracted for,
charged or received by the Holder exceeds the Maximum Rate, the Holder may, to the extent permitted by applicable law, (a) characterize
any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects
thereof and (c) amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout the contemplated
term of this Notes.

 

8. Action
to Collect on Note. If action is institutes to collect on this Note, the Company shall be obligated to pay all of each Holder’s
costs and expenses, including reasonable attorney’s fees, incurred in connection with such action.

 

9. Loss
of Note. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Note or
any Note exchanged for it, and indemnity satisfactory to the Company (in case of loss, theft or destruction) or surrender and cancellation
of such Note (in the case of mutilation), the Company will make and deliver in lieu of such Note a new Note of like tenor.

 

10.
Miscellaneous.

 

(a)
Governing Law. The validity, interpretation, construction and performance of this Note, and all acts and transactions pursuant
hereto and the rights and obligations of the Company and Holder shall be governed, construed and interpreted in accordance with the laws
of the state of Delaware, without giving effect to principles of conflicts of law.

 

(b) Entire
Agreement. This Note, together with the Subscription Agreement and the documents referred to therein, constitute the entire agreement
and understanding between the Company and the Holder relating to the subject matter herein and supersedes all prior or contemporaneous
discussions, understandings and agreements, whether oral or written between them relating to the subject matter hereof.

 

    3

     

    

 

(c)
Amendments and Waivers. Any term of this Note may be amended only with the written consent of the Company and at least a majority
in interest of the Holders. Any amendment or waiver effected in accordance with this Section 10(c) shall be binding upon the Company,
each Holder and each transferee of any Note.

 

(d) Successors
and Assigns. The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and
assigns of the Company and the Holder. Notwithstanding the foregoing, the Holder may not assign, pledge, or otherwise transfer this Note
without the prior written consent of the Company. Subject to the preceding sentence, this Note may be transferred only upon surrender
of the original Note for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in
form satisfactory to the Company. Thereupon, a new note for the same principal amount and interest will be issued to, and registered
in the name of, the transferee. Interest and principal are payable only to the registered holder of this Note.

 

(e)
Notices. Any notice, demand or request required or permitted to be given under this Note shall be in writing and shall be deemed
sufficient when delivered personally or by overnight courier or sent by email, or 48 hours after being deposited in the U.S. mail as
certified or registered mail with postage prepaid, addressed to the party to be notified at such party’s address as set forth on
the signature page, as subsequently modified by written notice, or if no address is specified on the signature page, the most recent
address set forth in the Company’s books and records.

 

(f) Counterparts.
This Note may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and
all of which together shall constitute one and the same instrument.

 

[Signature
Page Follows]

 

    4

     

    

 

IN
WITNESS WHEREOF, the Company has executed this Convertible Promissory Note as of the date first set forth above.

 

	THE COMPANY:	 
	 	 	 
	Cadrenal Therapeutics, Inc.	 
	 	 	 
	By:	/s/ Quang Pham	 
	 	Quang Pham, CEO	 

 

	AGREED TO AND ACCEPTED:	 
	 	 	 
	THE HOLDER:
	 	 	 
	The Entrust Group FBO John Raymond Murphy – ROTH IRA account ###
	 	 	 
	 	 
	(PRINT NAME)	 
	 	 	 
	/s/ Alan Ung	 
	(SIGNATURE)	 
	 	 	 
	Address:	###	 
	 	 	 
	Email:	###	 

 

 

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