Amendment to Series C Warrant between Applied Digital Solutions, Inc. and Satellite Strategic Finance Associates, LLC (March 31, 2005)

Contract Categories: Business Finance › Warrant Agreements
Summary

This amendment, dated March 31, 2005, modifies the Series C Warrant originally granted by Applied Digital Solutions, Inc. to Satellite Strategic Finance Associates, LLC. The amendment sets the exercise price of the warrant at one cent above the closing price of the company's common stock on the amendment date, as reported by Nasdaq. All other terms of the original warrant remain unchanged. The amendment is signed by both parties and incorporates certain standard provisions from the original warrant.

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EX-10.1 2 ex10p1.htm EXHIBIT 10.1 Exhibit 10.1

Exhibit 10.1

Warrant Amendment

Amendment (this “Amendment”), dated March 31, 2005, to the Series C Warrant (the “Warrant”), granted to Satellite Strategic Finance Associates, LLC by Applied Digital Solutions, Inc. (the “Company”) on October 21, 2004 in connection with a financing transaction.

Capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Warrant. The parties hereby agree that the Exercise Price shall be fixed at one cent ($0.01) above the closing price on the date hereof (as reported by Nasdaq) for one share of the Company’s common stock. All other terms of the Warrant shall remain unchanged and Sections 11 (notices), 13 (applicable law), and 14 (amendments) shall apply to this Amendment as if set forth herein (mutatis mutandis).

APPLIED DIGITAL SOLUTIONS, INC.


By:
/s/Scott R. Silverman
 
Scott R. Silverman
 
Chairman and Chief Executive Officer



SATELLITE STRATEGIC FINANCE ASSOCIATES, LLC,
as owner of 100% of the Warrant


By:
/s/ Simon Raykher
 
Name:  Simon Raykher
 
Title:   General Counsel