Hudson Bay Master Fund Ltd. 120 Broadway, 40th Floor New York, New York 10271 Ladies and Gentlemen: We hereby reference the Securities Purchase Agreement, dated as of October 27, 2010, by and between Socket Mobile, Inc. (the "Company") and Hudson Bay...
Exhibit 10.2
November 5, 2010
Xxxxxx Bay Master Fund Ltd.
000 Xxxxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Ladies and Gentlemen:
We hereby reference the Securities Purchase Agreement, dated as of October
27, 2010, by and between Socket Mobile, Inc. (the "Company") and Xxxxxx
Bay Master Fund Ltd. (the "Buyer"), as amended by the letter agreement
between the Company and the Buyer dated November 3, 2010 (the "Purchase
Agreement"). Capitalized terms used but not defined herein shall have the
meanings ascribed to such terms in the Purchase Agreement.
This letter agreement memorializes the agreement between the Company and the
Buyer to extend the date on which the Buyer shall have the right to terminate
its obligations under the Purchase Agreement if the Closing shall not have occurred
by such date.
1. Waiver. The Buyer hereby waives its right to terminate its obligations
under the Purchase Agreement pursuant to Section 8 of the Purchase Agreement
until the close of business on November 12, 2010. The Buyer shall have such
right of termination under Section 8 of the Purchase Agreement in the event
that the Closing shall not have occurred by the close of business on November
12, 2010, subject to the conditions set forth therein.
2. Miscellaneous.
(a) Governing Law. This letter agreement shall be governed by and construed
in accordance with the laws of the State of Illinois.
(b) Counterparts. This letter agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
(c) Effect of Waiver. Except as expressly set forth herein, no other
term or condition of the Purchase Agreement or any other Transaction Document
shall be amended or waived hereby.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]
Please confirm our understanding and agreement with respect to the foregoing
matters by signing below.
| Very truly yours, | |
| SOCKET MOBILE, INC. | |
| By: /s/ Xxxxx X. Xxxxxx | |
| Name: Xxxxx X. Xxxxxx | |
| Title: CFO |
| Agreed and Accepted: |
| XXXXXX BAY MASTER FUND LTD. |
| By:/s/ Xxxx Xxxx |
| Name: Xxxx Xxxx |
| Title: Authorized Signatory |
