SEC Contract Filing

Filing Date: 2025-07-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>vivakor_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Exhibit 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0"><B>SECOND AMENDMENT TO LOAN AGREEMENT</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin: 0">This Second Amendment to Loan Agreement and the Registration Rights Agreement (this &ldquo;<B>Amendment</B>&rdquo;) is dated as of July&nbsp;9, 2025 (the &ldquo;<B>Effective Date</B>&rdquo;) and is made and entered into between <B>Vivakor, Inc.</B>, a Nevada corporation (the &ldquo;<B>Company</B>&rdquo;), and <B>J.J. Astor &amp; Co.</B>, a Utah corporation (including its successors and assigns, the &ldquo;<B>Lender</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin: 0"><B>WHEREAS, </B>the Company and the lender entered into a loan agreement (the &ldquo;<U>Loan Agreement</U>&rdquo;) and a registration rights agreement dated as of March&nbsp;17, 2025 (the &ldquo;<U>Registration Rights Agreement</U>&rdquo;); and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin: 0"><B>WHEREAS</B>, on or about the
date of the Loan Agreement the Company borrowed the sum of $5,000,000, less the payments set forth in the Flow of Funds Agreement (the
&ldquo;<U>Initial Loan</U>&rdquo;) and issued to the Lender, a $6,625,000 Original Principal Amount junior secured convertible promissory
note in the form of <B><U>Exhibit A</U></B> to the Loan Agreement (the &ldquo;<U>Initial Note</U>&rdquo;); and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin: 0"><B>WHEREAS</B>, the Company has failed to pay of certain of the Weekly Installment Payments due under the Initial Note and as of the Effective Date the Company and the Lender entered into a forbearance and loan agreement amendment agreement (the &ldquo;<U>Forbearance Agreement</U>&rdquo;), dated of even date herewith, but effective as of the April&nbsp;14, 2025 (the &ldquo;<U>Forbearance Agreement Effective Date</U>&rdquo;); and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
under the Forbearance Agreement, (i) the Outstanding Principal Amount of the Initial Note was $6,151,783 on the Forbearance Agreement
Effective Date, (ii) the principal amount under the Initial Note was increased to $6,766,961.30 (the &ldquo;<B>Amended Principal Amount</B>&rdquo;),
representing 110% of the Outstanding Principal Amount of the Note as of the Forbearance Agreement Effective Date, (iii) the Weekly Installment
Payments under the Initial Note shall stayed the same, (iv) a fee of $615,178.30 was added to the Amended Principal Amount of the Initial
Note and shall be due and payable by Vivakor on or before January 7, 2026, (v) past due interest totaling $291,367.35, that has accrued
between the Forbearance Agreement Effective Date and the Effective Date, shall also be paid on or before January 7, 2026, (vi) both the
$615,178.30 fee and the $291,367.35 of past due interest shall be paid in full in cash on or before January 7, 2026; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
the Company seeks to borrow from the Lender the additional sum of $4,400,000 (the &ldquo;<U>Additional Loan</U>&rdquo;), and the Lender
is willing to make the Additional Loan, less (a) a one hundred seventy six thousand dollar ($176,000) origination fee, (b) an aggregate
of $3,232,974.35 (the &ldquo;<U>Holdback Amounts</U>&rdquo;) representing (i) a $891,000 holdback amount to be applied to pay the first
six Weekly Installment Payments when due under the Additional Note (hereinafter defined), (ii) $1,395,540.35 to be applied to pay the
seven past due Weekly Installment Payments under the Initial Note, plus accrued interest thereon, and (iii) $946,434 to secure and cover
the payment of the next six Weekly Installment Payments due under the Initial Note, and (c) $20,000 to pay Lender&rsquo;s legal fees,
all as set forth in the Flow of Funds Agreement, resulting in net proceeds to the Company of $971,025.65; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 5.95pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, prior to the
application of the proceeds from the Additional Loan the Outstanding Principal Amount of the Initial Note as of July 9, 2025 is $6,111,894.65,
after application of the proceeds from the Additional Loan the Outstanding Principal Amount of the Initial Note as of July 9, 2025 will
be $3,825,354.30; and</P>

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

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