AMENDMENTSecurities Purchase Agreement • October 29th, 2015 • 4Licensing Corp • Patent owners & lessors • New York
Pursuant to the Securities Purchase Agreement, dated as of March 25, 2014, by and among 4Licensing Corporation (the “Company”), Prescott Group Aggressive Small Cap Masterfund, GP (“Prescott”) and the other parties thereto, the Company issued Prescott a promissory note (the “Note”) in the principal amount of $1,500,000. In accordance with the terms of the Note, the Note (i) currently matures on March 25, 2016 (the “Maturity Date”) and (ii) requires that, in the event the Company elects to prepay the Note in whole at any time prior to the Maturity Date, the Company may do so for 125% of the entire outstanding principal balance of the Note, plus any and all unpaid accrued interest thereon to, but excluding, the date of such prepayment (the “Prepayment Penalty”). In accordance with Section 6.2 of the Note, Prescott hereby irrevocably agrees, for good and valuable consideration provided for in the Security Agreement in the form attached hereto as Exhibit A, that the terms of the Note shall
