SEC Contract Filing

Filing Date: 2017-10-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>f8k100517_ex10z1.htm
<DESCRIPTION>EXHIBIT 10.1 FORM OF AMENDMENT OF WARRANT AND NOTE, ENTERED INTO AS OF SEPTEMBER 29, 2017, BETWEEN THE COMPANY AND THE HOLDERS
<TEXT>
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<TITLE>Exhibit 10.1 Form of Amendment of Warrant and Note, entered into as of September 29, 2017, between the Company and the Holders</TITLE>
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<DIV style=margin-left:36pt;width:540pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>SIGMA LABS, INC.</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>3900 Paseo del Sol</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>Santa Fe, New Mexico 87507</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>VIA EMAIL AND U.S. MAIL</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=right style='font:10pt Times New Roman;margin:0'>September __, 2017</P>
<P style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'>Re: </KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'>Form of Amendment of Warrant and Note</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Ladies and Gentlemen:</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Reference is made to the 10% Secured Convertible Note in the aggregate principal amount of $_______ and dated October 17, 2016 (the &#8220;<FONT style='border-bottom:1px solid #000000'>Note</FONT>&#8221;) issued to _______ by Sigma Labs, Inc. (&#8220;<FONT style='border-bottom:1px solid #000000'>Sigma Labs</FONT>&#8221;) and to the Common Stock Purchase Warrant dated October 17, 2016 (the &#8220;<FONT style='border-bottom:1px solid #000000'>Warrant</FONT>&#8221;) issued to _______ by Sigma Labs. This letter (the &#8220;<FONT style='border-bottom:1px solid #000000'>Letter Agreement</FONT>&#8221;) sets forth the agreement between _______ and Sigma Labs regarding the following matters in consideration of payment to _______ as set forth in Section A.3.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'>A.</KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'>Amendment of the Note</FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>1.</KBD><KBD style=margin-left:72pt></KBD>Effective as of the date of this Letter Agreement, the first sentence in the third full paragraph on page 1 of the Note is amended to read in full as follows:&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-54pt;margin-left:90pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style=margin-left:36pt></KBD>&#8220;FOR VALUE RECEIVED, the Company promises to pay to _______ or its registered assigns (the &#8220;Holder&#8221;), or shall have paid pursuant to the terms hereunder, the principal sum of $_______ and accrued interest on the date that is the earlier of May 18, 2018 or the date that Company closes an underwritten public offering of its securities in which it raises gross proceeds of at least $3,000,000 (the &#8220;Maturity Date&#8221;) or such earlier date as this Note is required or permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note in accordance with the provisions hereof.&#8221; &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>2.</KBD><KBD style=margin-left:72pt></KBD>Effective as of the date of this Letter Agreement, all other references in the Note to October 17, 2017 shall instead be deemed to refer to May 18, 2018.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>3.</KBD><KBD style=margin-left:72pt></KBD>Effective as of the date of this Letter Agreement, the first sentence of Section 4(b) of the Note is amended to read in full as follows:&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style=margin-left:36pt></KBD>&#8220;Subject to Section 5, the &#8220;Conversion Price&#8221; in effect on any Conversion Date means, as of any Conversion Date or other date of determination, $2.00.&#8221;&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-lef