First Amendment to Third Amended and Restated Promissory Note between Tronco Energy Corporation and Superior Drilling Products, Inc.

Summary

This amendment, dated December 31, 2022, updates the terms of a promissory note originally issued by Tronco Energy Corporation to Superior Drilling Products, Inc. The main change is the extension of the loan's maturity date from December 31, 2022, to January 31, 2023. All other terms of the original note remain unchanged. Both parties have agreed to this amendment as of the stated date.

EX-10.2 3 ex10-2.htm

Exhibit 10.2

FIRST AMENDMENT TO THIRD AMENDED AND RESTATED PROMISSORY NOTE

Salt Lake City, Utah

Reference is made to that certain Third Amended and Restated Loan Promissory Note executed by Tronco Energy Corporation, a Delaware corporation (“Maker”) for the benefit of Superior Drilling Products, a Utah corporation or its assigns (“Lender”) dated July 6, 2020 in the original principal amount of $7,091,162.00 (the “Existing Note”). All defined terms contained herein shall have the same meaning as contained in the Existing Note. This First Amendment to Third Amended and Restated Promissory Note is made as of this 31st day of December, 2022 (the “First Amendment”) and makes the following revision to the Existing Note:

The defined term “Maturity Date” contained in the Existing Note that provides for a Maturity Date of December 31, 2022 shall be deleted from the Existing Note and substituted therefore shall be a Maturity Date of January 31, 2023.

All other terms and conditions contained in the Existing Note shall remain in full force and effect except as specifically amended by this First Amendment.

EXECUTED AS OF THIS 31^st DAY OF DECEMBER, 2022.

	MAKER:

	TRONCO ENERGY CORPORATION

	By:	/s/ G. Troy Meier
		G. Troy Meier, President

AGREED TO AND ACCEPTED as of this 31^st day of December, 2022.

	LENDER:

	SUPERIOR DRILLING PRODUCTS, INC.

	By:	/s/ Chris Cashion
		Chris Cashion
		Chief Financial Officer