ATRINSIC, INC. 65 Atlantic Avenue Boston, Massachusetts 02110 May 15, 2015
Exhibit 10.1
ATRINSIC, INC.
65 Atlantic Avenue
Boston, Massachusetts 02110
May 15, 2015
Iroquois Capital Management LLC
641 Lexington Avenue, 26th Floor
New York, New York 10022
Attn.: Mitchell R. Kulick, Esq., General Counsel
Re: Amendment to First Amended and Restated Security Agreement
Dear Mr. Kulick:
Reference is made to the incremental $50,000.00 loan from Iroquois Master Fund LTD to Atrinsic, Inc. being funded today which will be evidenced by a Secured Promissory Note of even date herewith. We hereby confirm that “Notes” as defined in the First Amended and Restated Security Agreement dated December 18, 2014 shall be amended to include all of the notes described on Exhibit A hereto.
Except as modified hereby, the First Amended and Restated Security Agreement dated December 18, 2014 shall remain in full force and effect.
| Sincerely, | ||
| /s/ Edward Gildea | ||
| Edward Gildea, | ||
| President |
Agreed to and Accepted:
Iroquois Master Fund LTD
| By: | /s/ Joshua Silverman | ||
| Joshua Silverman, Authorized Signatory | |||
Exhibit A
Notes Covered by First Amended and Restated Security Agreement
by and between
Atrinsic, Inc., Iroquois Master Fund LTD and Hudson Bay Master Fund LTD
| Note Date | Holder | Note Amount | ||||
| 2/11/2014 | Hudson Bay Master Fund LTD | $ | 87,500.00 | |||
| 2/11/2014 | Iroquois Master Fund LTD | $ | 87,500.00 | |||
| 8/15/2014 | Hudson Bay Master Fund LTD | $ | 45,000.00 | |||
| 8/15/2014 | Iroquois Master Fund LTD | $ | 45,000.00 | |||
| 12/18/2014 | Hudson Bay Master Fund LTD | $ | 75,000.00 | |||
| 12/18/2014 | Iroquois Master Fund LTD | $ | 75,000.00 | |||
| 5/15/2015 | Hudson Bay Master Fund LTD | $ | 50,000.00 | |||
| 5/15/2015 | Iroquois Master Fund LTD | $ | 50,000.00 | |||
