June 6, 2007 Halifax Corporation 5250 Cherokee Avenue
Exhibit 10.3
Pursuant to a subordination agreement dated March 6, 2002 between Provident Bank and the
subordinated debt holders, Research Industries, further assigned on June 29, 2005 to the Arch ▇.
▇▇▇▇▇▇▇▇ Children’s Trust, the maturity date of the remaining principal balance of $500,000 on the
8% promissory notes plus accrued interest thereon are extended to July 1, 2009.
All other terms and conditions of the notes remain the same.
Dated this 6th day of June 2007
The Arch ▇. ▇▇▇▇▇▇▇▇ Children’s Trust
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ |
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Trustee
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Arch ▇. ▇▇▇▇▇▇▇▇, ▇▇., Trustee | |||
/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ |
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▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Trustee
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▇▇▇▇ ▇. ▇▇▇▇▇▇ Trustee | |||
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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6/29/07 | |||
HALIFAX CORPORATION
|
DATE | |||
▇▇▇▇▇▇ ▇▇▇▇▇▇▇, CFO |
Pursuant to a subordination agreement dated March 6, 2002 between Provident Bank and the
subordinated debt holders, Research Industries, further assigned on June 29, 2005 to the Arch ▇.
▇▇▇▇▇▇▇▇ Children’s Trust, the maturity date of the remaining principal balance of $500,000 on the
8% promissory notes plus accrued interest thereon are extended to July 1, 2009.
All other terms and conditions of the notes remain the same.
Dated this 29th day of June 2007
The Arch ▇. ▇▇▇▇▇▇▇▇ Children’s Trust
| /s/ Arch ▇. ▇▇▇▇▇▇▇▇
|
||||
| /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇ | ||||
▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Trustee
|
▇▇▇▇ ▇. ▇▇▇▇▇▇ Trustee | |||
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
|
6/29/07 | |||
HALIFAX CORPORATION
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DATE | |||
▇▇▇▇▇▇ ▇▇▇▇▇▇▇, CFO |