AMENDMENT NO. 2 TO SECURED CONVERTIBLE DEBENTURE
EXHIBIT
4.15
AMENDMENT NO. 2 TO
SECURED CONVERTIBLE DEBENTURE
SECURED CONVERTIBLE DEBENTURE
This amendment no. 2 (“Amendment”) to the Secured Convertible Debenture dated January 24, 2008
(the “Original Debenture”), as previously amended on January 29, 2009 (such prior amendment, the
“Prior Amendment” and with the Original Debenture, the “Debenture”) is made as of March 17, 2009 by
and between Converted Organics Inc., a Delaware corporation (“Borrower”) and HIGH CAPITAL FUNDING,
LLC (“Lender”).
RECITALS
WHEREAS, Borrower has issued Lender the Debenture in principal amount of $500,000;
WHEREAS, Borrower has agreed to modify certain terms of the Prior Amendment as set forth
herein; and
WHEREAS, Capitalized terms used herein and not otherwise defined herein shall have the
meanings set forth in the Debenture.
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree
as follows:
1. Upon the execution of this Amendment, the Borrower agrees to waive Lender’s compliance
obligations with respect to Section 4 of the Prior Amendment.
2. All other provisions of the Debenture not amended or modified herein shall continue to have
their full force and effect.
3. This Amendment may be changed, waived, discharged or terminated only by a writing signed by
the Lender and Borrower.
4. This Amendment shall be construed and interpreted in accordance with the Sections 13 and 14
of the Original Debenture.
5. This Amendment may be executed in two or more counterparts, which when so executed shall
constitute one and the same agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of March
17, 2009.
| Converted Organics Inc. | ||||
By: |
||||
| HIGH CAPITAL FUNDING, LLC | ||||
By: |
||||
| Xxxxx X. Xxxx, | ||||
| President of Profit Concepts, Ltd., Manager | ||||
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