SEC Contract Filing

Filing Date: 2022-01-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm224795d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: normal"><B>&nbsp;Exhibit 10.2</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>THIS NOTE HAS NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY JURISDICTION.
THIS NOTE MAY&nbsp;NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM. BY
ACQUIRING THIS NOTE, THE HOLDER REPRESENTS THAT THE HOLDER WILL NOT SELL OR OTHERWISE DISPOSE OF THIS NOTE WITHOUT REGISTRATION OR EXEMPTION
THEREFROM.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SENIOR PROMISSORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
 <TR STYLE="vertical-align: bottom">
 <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 49%; text-align: left">$4,500,000</TD><TD STYLE="width: 2%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
 <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; width: 49%">&#8239;&#8239;&#8239;&#8239;&nbsp;January&nbsp;31, 2022</TD></TR>
 </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For value received Cohen&nbsp;&amp; Company, LLC, a Delaware limited
liability company (together with its successors and assigns, the &ldquo;<U>Company</U>&rdquo;), promises to pay to JKD&nbsp;Capital&nbsp;Partners&nbsp;I&nbsp;LTD,
a New York corporation (the &ldquo;<U>Holder</U>&rdquo;), the principal amount of $4,500,000, together with all accrued and unpaid interest
thereon. This Amended and Restated Senior Promissory Note (this &ldquo;<U>Note</U>&rdquo;) is subject to the following terms and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>1.</B></FONT><B><FONT STYLE="color: #010000">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><FONT STYLE="font-size: 10pt"><U>Defined
Terms</U></FONT></B><FONT STYLE="font-size: 10pt">. The following terms used in this Note shall have the following meanings:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(a)</FONT><FONT STYLE="color: #010000">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><FONT STYLE="font-size: 10pt">&ldquo;<U>Affiliate</U>&rdquo;
means, with respect to a Person, any other Person directly or indirectly controlling, controlled by, or under common control with, such
Person at any time during the period for which the determination of affiliation is being made.&nbsp; For purposes of this definition,
the terms &ldquo;control,&rdquo; &ldquo;controlling,&rdquo; &ldquo;controlled&rdquo; and words of similar import, when used in this context,
mean, with respect to any Person, the possession, directly or indirectly, of the power to direct, or cause the direction of, management
policies of such Person, whether through the ownership of voting securities, by contract or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(b)</FONT><FONT STYLE="color: #010000">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><FONT STYLE="font-size: 10pt">&ldquo;<U>Assets</U>&rdquo;
means all of the properties and assets of the Company or of any subsidiary of the Company, whether real, personal or mixed, tangible
or intangible, wherever located, whether now owned or hereafter acquired.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(c)</FONT><FONT STYLE="color: #010000">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><FONT STYLE="font-size: 10pt">&ldquo;<U>Change
in Control</U>&rdquo; shall mean any one of the following events: (i)&nbsp;any Person or group (other than the Holder, Daniel G. Cohen,
any member of Daniel G. Cohen&rsquo;s immediate family, <FONT STYLE="font-family: Times New Roman, Times, Serif">the DGC Family Fintech
Trust, Cohen Bros. Financial, LLC </FONT>and any controlled Affiliates of the f