Addendum 2 to Convertible Debenture and Equity Investment Agreement between MultiCell Technologies, Inc. and La Jolla Cove Investors, Inc.

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Summary

This addendum, dated February 20, 2014, is between MultiCell Technologies, Inc. and La Jolla Cove Investors, Inc. It amends their previous Convertible Debenture and Equity Investment Agreement by extending the maturity date of the debenture and the expiration date of the warrant to February 28, 2016. Both parties agree to these changes as part of their ongoing investment relationship.

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EX-10.15 3 v367480_ex10-15.htm EXHIBIT 10.15
ADDENDUM 2
TO CONVERTIBLE DEBENTURE AND
EQUITY INVESTMENT AGREEMENT
 
This Addendum to Convertible Debenture and Equity Investment Agreement is being entered into this 20th day of February, 2014, by and between MultiCell Technologies, Inc., a Delaware corporation (“Company”) and La Jolla Cove Investors, Inc. (“LJCI” or “Holder”).
 
WHEREAS, LJCI and Company are parties to that certain 4¾% Convertible Debenture (“Debenture”), Securities Purchase Agreement ("SPA") and the Warrant to Purchase Common Stock, all dated as of February 28, 2007, as amended. Capitalized terms shall have the meaning set forth in the respective documents.
 
WHEREAS, the parties desire to amend the Debenture and Warrant in certain respects.
 
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Company and LJCI agree as follows:
 
1. The Maturity Date of the Debenture and the Expiration Date Warrant will be extended until February 28, 2016. 
 
MultiCell Technologies, Inc.,
La Jolla Cove Investors, Inc.
 
 
By: /s/ W. Gerald Newmin
By: /s/ Travis W. Huff
 
 
Name: W. Gerald Newmin
Name: Travis W. Huff
 
 
Title: Chairman & CEO
Title: Portfolio Manager