SEC Contract Filing

Filing Date: 2015-07-30

Document Content:
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<TYPE>EX-10.8
<SEQUENCE>9
<FILENAME>exhibit8.htm
<DESCRIPTION>EX-10.8
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 12pt"><U><B>EXHIBIT 10.8</B></U>
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<P align="center" style="font-size: 12pt"><U><B>FIRST AMENDMENT TO PROMISSORY NOTE</B></U>

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>THIS FIRST AMENDMENT (</B>THE <B>&#147;FIRST AMENDMENT&#148;) DATED JULY 27, 2015, SHALL AMEND THE PROMISSORY
NOTE (THE &#147;NOTE&#148;) DATED AS OF APRIL 16, 2015 AMONG NON-INVASIVE MONITORING SYSTEMS, INC. (THE
&#147;MAKER&#148;) AND FROST GAMMA INVESTMENTS TRUST (THE &#147;PAYEE&#148;) AS NOTED BELOW.</B>

<P align="center" style="font-size: 12pt"><U><B>RECITALS</B></U>

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>WHEREAS</B>, Maker and Payee (collectively, the &#147;Parties&#148;) are parties to the Note which became
effective on April&nbsp;16, 2015; and

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>WHEREAS, </B>the Parties desire to amend the Note to extend the Maturity Date from July&nbsp;31, 2015
until July&nbsp;31, 2017.

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>NOW THEREFORE</B>, in consideration of the mutual covenants and promises contained in the Note and
this First Amendment and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Parties agree as follows:

<P align="center" style="font-size: 12pt"><U><B>AMENDMENT</B></U>

<P>
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 <TD width="4%" style="background: transparent">&nbsp;</TD>
 <TD width="1%" nowrap align="right"><B>1.</B></TD>
 <TD width="1%">&nbsp;</TD>
 <TD>Section&nbsp;1 of the Note is hereby amended and restated in its entirety as
follows:</TD>
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<P align="left" style="margin-left:8%; font-size: 12pt">The principal amount of the loan evidenced hereby, together with any accrued and
unpaid interest, and any and all unpaid costs, fees and expenses accrued, shall be
due and payable on July&nbsp;31, 2017 (the &#147;Maturity Date&#148;).

<P align="left" style="font-size: 12pt; text-indent: 4%">2.&nbsp;<B>Governing Law</B>. This First Amendment shall be governed by the laws of the State of Florida
without regard to its conflict of laws rules or principles.

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>3.&nbsp;Amendments. </B>Except as expressly amended hereby, the Note shall remain unmodified and in
full force and effect.

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>4.&nbsp;Entire Agreement</B>. This First Amendment and the Note constitute the entire agreement of the
Parties with respect to the subject matter hereof and supersede all prior understandings and
writings between the Parties relating thereto.

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>5.&nbsp;Interpretation</B>. Any capitalized terms used in this First Amendment but not otherwise
defined shall have the meaning provided in the Note.

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>6.&nbsp;Counterparts</B>. This First Amendment may be executed manually, electronically in Adobe&#174; PDF
file format, or by facsimile by the Parties, in any number of counterparts, each of which shall be
considered one and the same amendment and shall become effective when a counterpart hereof shall
have been signed by each of the Parties and delivered to the other Party.

<P align="left" style="font-size: 12pt; text-indent: 4%"><B>IN WITNESS WHEREOF</B>, Borrower has duly executed this First Amendment to the Note and Security
Note as of the 27<sup>th</sup> day of July, 2015.

<DIV align="center">
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 <TD width="46%">&nbsp;</TD>
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 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD nowrap align="center"><B>NON-INVASIVE MONITORING SYSTEMS,</B></TD>
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 <TD>&nbsp;</TD>
 <TD>&nbsp;</TD>
 <TD nowrap align="center"><B>INC.</B></TD>
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 <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
 <TD>&nbsp;</TD>
 <TD align="left" valign="top">By: /s/ James J. Martin</TD>
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 <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
 <TD>&nbsp;</TD>
 <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
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 <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
 <TD>&nbsp;</TD>
 <TD align="left" valign="top">Name: James J. Martin<BR>
Title: Chief Financial Officer</TD>
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 <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Agreed and Accepted:</B>
</DIV></TD>
 <TD>&nbsp;</TD>
 <TD align="left" valign="top"><BR></TD>
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 <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>FROST GAMMA INVESTMENTS TRUST</B>
</DIV></TD>
 <TD>&nbsp;</TD>
 <TD align="left" valign="top"><BR></TD>
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 <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By: /s/<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> Phillip Frost&#151;
</DIV></TD>
 <TD>&nbsp;</TD>
 <TD align="left" valign="top"><BR></TD>
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