SEC Contract Filing

Filing Date: 2015-05-28

Document Content:
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<TYPE>EX-10.63
<SEQUENCE>2
<FILENAME>ex10-63.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exhibit
10.63</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>FOURTH
ALLONGE TO</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>8%
SUBORDINATED NOTE</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
Fourth Allonge (the &ldquo;Fourth Allonge&rdquo;), dated as of May 27, 2015, is attached to and forms a part of an 8% Subordinated
Note, dated May 31, 2011 (collectively, the &ldquo;<U>Note</U>&rdquo;), made by <B>Digital Ally, Inc., a Nevada corporation</B>
(the &ldquo;Company&rdquo;), payable to the order of ________________(the &ldquo;Holder&rdquo;) in the original principal amount
of <B>$1,500,000</B>. The Note was amended by an Allonge, dated November 7, 2011, a Second Allonge, dated July 24, 2012, and a
Third Allonge dated December 4, 2013. This Fourth Allonge amends the Note and the Third Allonge.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.
Paragraph 3 of the Note is hereby amended and restated in its entirety as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Maturity
Date and Pre-Payments</B>. This Note shall be due and payable in full, including all accrued Interest thereon, on July 15, 2015
(the &ldquo;Maturity Date&rdquo;). At any time prior to the Maturity Date, the Company shall have the right to prepay this Note,
in whole or in part, without penalty. The Company will give to Holder ten (10) days&rsquo; written notice of its intent to prepay
this Note. On such prepayment date, the Company will pay in respect of this Note in cash the principal amount being prepaid plus
accrued Interest.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
all other respects, the Note and the Allonge are confirmed, ratified, and approved and, as amended by this Second Allonge, shall
continue in full force and effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">IN
WITNESS WHEREOF, the Company and the Holder have caused this Fourth Allonge to be executed and delivered as of the date and year
first above written.</FONT></P>

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 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
 <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DIGITAL
 ALLY, INC.</FONT></TD></TR>
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 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By