SEC Contract Filing

Filing Date: 2025-01-14

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ea022758901ex10-2_ecdauto.htm
<DESCRIPTION>FORM OF SENIOR SECURED CONVERTIBLE NOTE, DATED AS OF JANUARY 13, 2025
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<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.2</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[FORM OF SENIOR SECURED CONVERTIBLE NOTE]</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NEITHER THE ISSUANCE AND SALE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
(I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B)
AN OPINION OF COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS
NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
BY THE SECURITIES. ANY TRANSFEREE OF THIS NOTE SHOULD CAREFULLY REVIEW THE TERMS OF THIS NOTE, INCLUDING SECTIONS 3(c)(iii) AND 20(a)
HEREOF. THE PRINCIPAL AMOUNT REPRESENTED BY THIS NOTE AND, ACCORDINGLY, THE SECURITIES ISSUABLE UPON CONVERSION HEREOF MAY BE LESS THAN
THE AMOUNTS SET FORTH ON THE FACE HEREOF PURSUANT TO SECTION 3(c)(iii) OF THIS NOTE.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIS NOTE HAS BEEN ISSUED WITH ORIGINAL ISSUE
DISCOUNT (&ldquo;OID&rdquo;). PURSUANT TO TREASURY REGULATION &sect;1.1275-3(b)(1), RAYMOND COLE, A REPRESENTATIVE OF THE COMPANY HEREOF
WILL, BEGINNING TEN DAYS AFTER THE ISSUANCE DATE OF THIS NOTE, PROMPTLY MAKE AVAILABLE TO THE HOLDER UPON REQUEST THE INFORMATION DESCRIBED
IN TREASURY REGULATION &sect;1.1275-3(b)(1)(i). MR. COLE MAY BE REACHED AT TELEPHONE NUMBER 407-483-4825.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>ECD Automotive
Design, Inc.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>Senior
Secured Convertible </B></FONT><B><FONT STYLE="font-variant: small-caps">Note</FONT></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Issuance Date: January [&#9679;] 2025</P></TD>
 <TD STYLE="width: 50%; font-size: 10pt; text-align: right">Original Principal Amount: U.S. $1,724,100</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>FOR VALUE RECEIVED,</B>
ECD Automotive Design, Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), hereby promises to pay to the order of [BUYER]
or its registered assigns (&ldquo;<B>Holder</B>&rdquo;) the amount set forth above as the Original Principal Amount (as reduced pursuant
to the terms hereof pursuant to redemption, conversion or otherwise, the &ldquo;<B>Principal</B>&rdquo;) when due, whether upon the Maturity
Date, or upon acceleration, redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest (&ldquo;<B>Interest</B>&rdquo;)
on any outstanding Principal at the applicable Interest Rate (as defined below) from the date set forth above as the Issuance Date (the
&ldquo;<B>Issuance Date</B>&rdquo;) until the same becomes due and payable, whether upon the Maturity Date or upon acceleration, conversion,
redemption or otherwise (in each case in accordance with the terms hereof). This Senior Secured Convertible Note (including all Senior
Secured Convertible Notes issued in exchange, transfer or replacement hereof, this &ldquo;<B>Note</B>&rdquo;) is one of an issue of Senior
Secured Convertible Notes issued pursuant to the Securities Purchase Agreement, dated as of January [_], 2025 (the &ldquo;<B>Subscription
Date</B>&rdquo;), by and among the Company and the investors (the &ldquo;<B>Buyers</B>&rdquo;) referred to therein, as amended from time
to time (collectively, the &ldquo;<B>Notes</B>&rdquo;, and such other Senior Secured Convertible Notes, the &ldquo;<B>Other Notes</B>&rdquo;).
Certain capitalized terms used herein are defined in Section 33.</P>

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