Document:

EX-10.42

 Exhibit 10.42 

AMENDMENT NO. 2 (this “Amendment”), dated effective as of August 18, 2014 (the “Amendment Date”) to that
certain Stock Purchase Agreement (the “SPA”), dated as of December 20, 2002, between ALION SCIENCE AND TECHNOLOGY CORPORATION, a Delaware corporation (“Allan”) and STATE STREET BANK & TRUST COMPANY, a state
chartered trust company organized under the laws of the Commonwealth of Massachusetts, not in its individual or corporate capacity, but solely as trustee (the “Trustee”) of the employee stock ownership plan component of the ALION
SCIENCE AND TECHNOLOGY CORPORATION EMPLOYEE OWNERSHIP, SAVINGS AND INVESTMENT TRUST (the “Purchaser”) which implements and forms a part of the ALION SCIENCE AND TECHNOLOGY CORPORATION EMPLOYEE OWNERSHIP, SAVINGS AND INVESTMENT PLAN
(the “Plan”), as amended. The Purchaser and the Plan are hereinafter collectively referred to as the “ESOP.” 

A. Subject to the terms and conditions of the SPA, Alion sold to the Purchaser and the Purchaser purchased from Alion all of the outstanding
common stock of Alion. 
 B. The parties hereto entered into Amendment No. 1 to the SPA, dated as of March 19, 2010 for the purpose of
removing the S-corporation requirements. 
 C. The parties hereto have considered and reviewed the
obligations of Alion set forth in that certain refinancing support agreement dated as of December 24, 2013 by and among the Corporation, ASOF II Investments, LLC and Phoenix Investment Advisor, LLC (together with its exhibits thereto and as amended,
the “RSA”), which RSA contemplates a refinancing of the Corporation’s existing indebtedness through, among other transactions, an exchange of the Corporation’s existing 10.25% senior unsecured notes due 2015 for new third lien
notes and warrants and alters the rights of Alion’s equity securities such that (i) the holders of a majority of the Series A Preferred Stock shall have at all times the right to appoint a majority of the members of the board of directors of
Alion and (ii) the certificate of designations for the Series A Preferred Stock and Alion’s charter and by-laws shall provide that with respect to any and all matters on which there is a shareholder vote, there shall be a class vote of the
Series A Preferred Stock, and the affirmative vote of the majority of the shares of Series A Preferred Stock outstanding shall be both necessary and sufficient to approve all such matters for all or any classes or series of shareholders. 

D. Due to the obligations of Alion under the RSA, the parties hereto wish to amend the SPA in accordance with the terms of this Amendment.

 Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and
receipt of which are hereby mutually acknowledged, the parties hereto agree as follows: 
 SECTION 1. Defined Terms. Capitalized
terms used and not defined herein shall have the meanings assigned to such terms in the SPA. 
 SECTION 2. Amendments. As of the
Amendment Date, Sections 5.8 and 9.2 of the SPA shall be amended as follows: 
 (a) Section 5.8 of the SPA is amended by
striking the last sentence of the Section. 
 (b) Section 5.8 of the SPA is amended by adding the following sentence
immediately after the last sentence of the Section: 
 “Notwithstanding the foregoing, the transactions contemplated by that certain
Amended and Restated Refinancing Support Agreement, by and among Alion, ASOF II Investments, LLC, and Phoenix Investment Adviser LLC, dated as of December 24, 2013, as amended, do not require the Company to take any action contemplated by, nor will
require the Company to take any action in the future to comply with, the foregoing provisions in this Section 5.8.” 

 (c) Section 9.2 of the SPA is amended by striking the addresses for Notice to the
Company and to the Trustee or the Purchaser and replacing such deleted addresses with the following: 
 “If to the
Company to: 
 Alion Science and Technology 

Corporation 1750 Tysons Boulevard, 

Suite 1300 
 McLean, VA 22102

 Attention: Kevin Boyle, Esq., General 

Counsel Facsimile: (703) 734-6901 

Email: kboylegalionscience.com 

with a copy (which shall not constitute notice) to: 

Holland & Knight LLP 
 1600
Tysons Boulevard 
 McLean, VA 22102 

Facsimile: (703) 720-8610 

Attn: David S. Cole, Esq. 

If to the Trustee or the Purchaser to: 

State Street Bank and Trust Company, as Trustee of the ESOP 

One Lincoln Street 
 State
Street Financial Center 
 Boston, Massachusetts 02111 

Attention: Monet Ewing 

Facsimile: (617) 946-9434 

Email: monet.ewing@ssga.com 

with a copy (which shall not constitute notice) to: 

K&L Gates LLP 
 K&L
Gates Center 
 210 Sixth Avenue 

Pittsburgh, PA 15222-2613 

Facsimile: (412) 355-6501 

Attn: Charles R. Smith, Esq.” 

SECTION 3. No Other Changes. Except as expressly set forth in Section 1 above, no change or modification is hereby made
to the SPA. The SPA, as amended by this Amendment, continues to be, and shall remain, in full force and effect in accordance with its terms. 

SECTION 4. General Terms Incorporated by Reference. Section 9 (General) of the SPA is hereby incorporated by reference
into this Amendment; provided that references in such Sections to the “Agreement” shall be construed as references to this “Amendment.” 

[Remainder of this page intentionally left blank] 

  
 2 

 IN WITNESS WHEREOF, the Parties have executed this Amendment or have caused this Amendment to be
duly executed and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	ALION SCIENCE AND TECHNOLOGY CORPORATION )
		
	By:		/s/ Bahman Atefi
	Name:		Bahman Atefi
	Title:		Chief Executive Officer
	
	ALION SCIENCE AND TECHNOLOGY CORPORATION EMPLOYEE STOCK OWNERSHIP TRUST
		
	By:		STATE STREET BANK & TRUST COMPANY, not in its individual or corporate capacity, but solely as Trustee of the Alion Science and Technology Corporation Employee Stock Ownership Trust
		
	By:		 /s/ Monet Ewing

	Name:		Monet Ewing
	Title:		Vice President

 [Signature Page to Amendment No. 2 to the ESOP SPA.]Exhibit 10.1

 

THIS PROMISSORY NOTE HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD,
PLEDGED, HYPOTHECATED, ASSIGNED OR OTHERWISE DISPOSED OF, AND NO TRANSFER OF THIS PROMISSORY NOTE WILL BE MADE BY THE COMPANY OR
ITS TRANSFER AGENT IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION FROM SUCH REGISTRATION.

 

CONVERTIBLE PROMISSORY NOTE 

 

 

	$__________	Columbus, Ohio
	 	Dated: June 25, 2015
	 	Effective: _______________

 

FOR VALUE RECEIVED,
Intellinetics, Inc., a Nevada corporation (the “Company”), with its principal place of business at 2190 Dividend Drive,
Columbus, OH 43228, its successors and assigns (the “Company”), promises to pay to the order of _____________ (the
“Payee”), having an address at ______________________________, on the earliest to occur of (a) [THREE MONTHS FOLLOWING
EFFECTIVE DATE], or (b) the acceleration of this Note by Payee upon the occurrence of a Default (as defined below) (such earlier
date, the “Maturity Date”), the principal sum of ____________________ ($__________) (the “Principal Amount”),
with interest on the balance remaining unpaid.

 

		1.	Prior to the Maturity Date, Company may request, from time to time, that Payee provide any or all
of the Maximum Principal Amount to Company, subject to Payee’s approval. The date on which additional portions of the Maximum
Principal Amount are received by the Company shall be used for purposes of calculating interest hereunder. Company shall keep records
of the current principal amount of the Note and interest accrued (if any), and such records shall be available for inspection by
Payee at any time.

 

		2.	The Payee shall have the right, at his option, at any time on or before the repayment of the Note,
to convert, in whole or in part, subject to the terms and provisions hereof, the principal amount of the Note and interest accrued
(if any) through the date of conversion, into any funding instruments issued by the Company, whether debt or equity, at the same
price as such funding instruments, less a discount of 20%. It is understood that any common stock issued on conversion of this
Note will bear a restrictive legend, and have “piggyback” registration rights.

 

		3.	This Note shall at all times be wholly subordinate and junior in right of payment to the payment
of all indebtedness of the Company (whether now outstanding or hereafter acquired) which is not, by its express terms, pari passu
or subordinate to the indebtedness evidenced by this Note.

 

		4.	As long as this Note remains outstanding, if the Company consummates an equity financing, merger,
or any form of change of control (a “Triggering Event”) then the holder of such Note may exchange the Note for the
securities or any other form of consideration issued in such Triggering Event as if the holder of the Note had converted the Note
in accordance with Section 2 above.

 

		5.	This Note shall bear interest at 10% per annum through the Maturity Date. Interest shall be paid
quarterly, unless deferred by the Company at the increased rate of interest set forth in Section 7 below. Except if this Note is
converted as provided herein, payments on both principal and interest are to be made in lawful money of the United States of America
unless Payee agrees to another form of payment.

 

    	 

    	 

    

 

		6.	As used herein, a “Default” means a material default by the Company of this Note. The
deferral of quarterly interest payments by the Company at the increased interest rate set forth in Section 7 below shall not constitute
an event of default.

 

		7.	Amounts not paid when due hereunder shall bear interest from the due date until such amounts are
paid at the rate of 12% per annum; provided, however, that in the event such interest rate would violate any applicable
usury law, the default rate shall be the highest lawful interest rate permitted under such usury law. Upon the occurrence of a
Default and receipt of written notice by the Company from Payee of such Default, the principal and interest due hereunder shall
be immediately due and payable by the Company to Payee, unless such Default is waived by the Payee.

 

		8.	Presentment, demand, protest or notice of any kind are hereby waived by the Company. The Company
may not set off against any amounts due to Payee hereunder any claims against Payee or other amounts owed by Payee to the Company.

 

		9.	All rights and remedies of Payee under this Note are cumulative and in addition to all other rights
and remedies available at law or in equity, and all such rights and remedies may be exercised singly, successively and/or concurrently.
Failure to exercise any right or remedy shall not be deemed a waiver of such right or remedy.

 

		10.	The Company agrees to pay all reasonable costs of collection, including attorneys' fees which may
be incurred in the collection of this Note or any portion thereof and, in case an action is instituted for such purposes, the amount
of all attorneys' fees shall be such amount as the court shall adjudge reasonable.

 

		11.	This Note is made and delivered in, and shall be governed, construed and enforced under the laws
of the State of Ohio.

 

		12.	This Note shall be subject to prepayment, at the option of the Company, without premium or penalty.

 

		13.	This Note or any benefits or obligations hereunder may not be assigned or transferred by the Company,
without the consent of the Payee, which consent shall not be unreasonably withheld.

 

So long as this Note is outstanding, the
Company shall operate its business in the ordinary course of business consistent with past practice and shall not take any action,
or omit to take any action, which has or is reasonably likely to have a material adverse effect on the Company or its business,
properties, assets, financial condition or prospects.

 

IN WITNESS WHEREOF, the Company has caused this Note to be
duly executed and delivered as of the date first set forth above.

 

	Intellinetics, Inc.	 
	 	 	 
	By: 		 
	Name: Matthew L. Chretien	 
	Title: Chief Executive Officer

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