SEC Contract Filing

Filing Date: 2015-07-07

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d76917dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTE AMENDMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This NOTE AMENDMENT AGREEMENT (this &#147;<U>Amendment</U>&#148;), dated as of July&nbsp;2, 2015 (the &#147;<U>Effective Date</U>&#148;), is
entered into by and among AUTHENTIDATE HOLDING CORP., a Delaware corporation (the &#147;<U>Company</U>&#148;) and VER 83, LLC the holder (the &#147;<U>Holder</U>&#148;) of the Prior Note (as such term is defined below). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company has issued to the Holder a promissory note in the aggregate principal amount of $950,000 (the &#147;<U>Prior
Note</U>&#148;) with a maturity date of July&nbsp;2, 2015 (the &#147;<U>Maturity Date</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company seeks
Holder&#146;s consent to modify and extend the Maturity Date of the Prior Note to the date specified hereinafter and, in consideration thereof, the Company and the Holder have agreed to the additional terms set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged the Company and the Holder agree as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>SECTION 1. </B><U>Definitions</U>. As used herein, terms that are defined herein shall have the meanings as so defined, and
terms not so defined shall have the meanings as set forth in the Prior Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>SECTION 2. </B><U>Amendments to the Prior Note</U>. The
Prior Note shall be amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;The Prior Note is hereby amended to modify the definition of the term &#147;<U>Maturity
Date</U>&#148; such that from and after the Effective Date of this Amendment, the term &#147;<U>Maturity Date</U>&#148; shall mean July&nbsp;16, 2015. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;1 of the Prior Note is hereby amended such that from and after the Effective Date, interest on the Prior Note shall accrue at
the annual rate of 12% and that all accrued and unpaid interest on the Prior Note shall be due and payable in cash on the Maturity Date or any earlier date on which the then outstanding principal amount of the Prior Note is repaid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>SECTION 3. </B><U>No Defaults</U>. The Company and Holder, by execution of this Amendment, each hereby represent and warrant to the other,
that as of the date hereof, no Event of Default has occurred under the Prior Note and no Event of Default exists or is continuing with respect to the Prior Note. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>SECTION 4. </B><U>Effect of Amendment</U>. Upon the Effective Date of this Amendment, (i)&nbsp;the applicable portions of this Amendment
shall be a part of the Prior Note and the Prior Note shall incorporate the provisions of <U>Section&nbsp;2</U> hereof, and (ii)&nbsp;each reference in the Prior Note to &#147;this Note&#148;, &#147;this Agreement&#148;, &#147;hereof&#148;,
&#147;hereunder&#148;, or words of like import, and each reference in any other document or agreement to the Prior Note shall mean and be a reference to the Prior Note as amended hereby. Except as expressly amended hereby, the Prior Note (as it may
have previously been amended) shall remain in full force and effect in accordance with its terms, and is hereby ratified and confirmed by the parties hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>SECTION 5. </B><U>Consent</U>. Each of the Holder and the Company hereby consents to the terms of the amendments to the Prior Note
contained in this Amendment. This Amendment is not intended to serve as, and shall not be construed by operation of law or otherwise, as a novation of the Prior Note. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>SECTION 6.</B> <U>Representations and Warranties</U>. Each of the parties hereto represents
and warrants that it is duly incorporated or otherwise organized, validly existing and (to the extent applicable) in good standing under the laws of the jurisdiction of its formation, that it has all requisite power and authority to enter into this
Amendment and that this Amendment has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation. The Holder further represents and warrants that (i)&nbsp;it is the beneficial or record owner of the
Prior Note originally issued to it, free a