Amendment to Convertible Note dated June 19, 2019 between Registrant and Lewis Titterton

Contract Categories: Business Finance - Note Agreements
EX-10.1 2 ex_672333.htm EXHIBIT 10.1 ex_672333.htm

Exhibit 10.1

 

 

PARKERVISION, INC.

AMENDMENT TO CONVERTIBLE PROMISSORY NOTE

 

CONVERTIBLE PROMISSORY NOTE AMENDMENT AGREEMENT (the “Amendment”), dated as of May 10, 2024, by and between PARKERVISION, INC., a Florida corporation (the “Company”), and LEWIS H. TITTERTON (the “Holder”).

 

WHEREAS, Holder is the holder of a convertible promissory note (No. PV 2019-018) dated June 19, 2019 (the “Existing Note”) with a principal balance of $25,000, unpaid, accrued interest of $284.93 and a maturity date of June 19, 2024, and

 

WHEREAS, the Company and Holder wish to modify the note to extend the maturity date and modify the interest payment terms.

 

Capitalized terms used herein and not otherwise defined are defined in the Existing Note.

 

 

NOW THEREFORE, the Company and Holder hereby agree as follows:

 

 

The MATURITY DATE of the Existing Note is hereby amended to Mach 15, 2026, effective immediately.

 

Section 1.2(a) of the Existing Note is hereby replaced in its entirety with the following:

 

 

The Maker shall accrue interest to the Holder on the Outstanding Principal Amount at the rate of eight percent (8%) per annum through May 10, 2024, and five percent (5%) per annum thereafter. Unpaid, accrued interest shall be paid at the MATURITY DATE. Interest payments shall be made, at the Maker’s option, and subject to the EQUITY CONDITIONS, in (i) cash, (ii) REPAYMENT SHARES, or (iii) a combination of cash and REPAYMENT SHARES. Interest shall cease to accrue with respect to any principal amount converted.

 

All other terms and conditions of the Existing Note remain unchanged.

 

 

 

 
 

 

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its officer thereunto duly authorized as of the date first indicated above.

 

 

PARKERVISION, INC.

 

 

 

/s/ Cynthia French                           

Name: Cynthia French

Title: Chief Financial Officer

 

 

 

 

ACKNOWLEDGED AND AGREED:

 

 

 

 

/s/ Lewis H Titterton                                    

Lewis H. Titterton, Holder