Extension Agreement for 8% Promissory Notes between Halifax Corporation and Nancy Morrison Scurlock
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Summary
Halifax Corporation and Nancy Morrison Scurlock have agreed to extend the maturity date of $500,000 in 8% promissory notes, originally issued to Research Industries and later assigned to Scurlock, to July 1, 2009. All other terms of the notes remain unchanged. This extension is made in accordance with a prior subordination agreement involving Provident Bank and the original debt holders.
EX-10.4 5 w36783exv10w4.htm EX-10.4 exv10w4
Exhibit 10.4
June 6, 2007
Halifax Corporation
5250 Cherokee Avenue
Halifax Corporation
5250 Cherokee Avenue
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 Nancy Morrison Scurlock, 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
/s/ Nancy Morrison Scurlock | ||||
| Nancy Morrison Scurlock | ||||
/s/ Joseph Sciacca | 6/29/07 | |||
Joseph Sciacca, CFO | ||||
