FORM OF SECOND AMENDMENT TO AN SPO SUBSCRIPTION AGREEMENT
EXHIBIT
10.2
FORM
OF
SECOND
AMENDMENT TO AN SPO SUBSCRIPTION AGREEMENT
SECOND
Amendment to an SPO Subscription Agreement, (the “Subscription Agreement”),
between SPO Medical Inc. (the “Company, or SPO”) and the undersigned subscriber
(the “Subscriber”) to the Subscription Agreement.
Whereas,
under the Subscription Agreement
entered into in 2005, SPO sold Subscriber certain SPO securities including
(i) a
promissory note (the “Note”); and (ii) a common stock purchase warrant (the
“Warrant”); and
Whereas,
the Parties amended the Subscription Agreement, the Note and the Warrant in
September 2006 (the "First Amendment") which included, inter alia, extending
the
maturity date of the Note until March 26, 2008, and
Whereas,
the parties hereto, wish to amend the Note and Warrant in accordance with,
and
subject to, the following terms and conditions.
NOW
THEREFORE, in consideration of the above and the terms and conditions hereof,
the parties, for themselves, their, heirs, successors and assigns agree as
follows:
1. Unless
otherwise defined herein, the capitalized terms used herein shall have the
meanings described in the Subscription Agreement and the First
Amendment.
2. Effective
the date hereof, the Note shall be due on March 26, 2010 (the “New Maturity
Date”). Interest accrued on the Note through March 26, 2008 shall be paid to
Subscriber forthwith. Thereafter interest shall accrue at 8% per annum and
be
payable at the New Maturity Date, or upon prepayment of the Note in accordance
with Section 3.2 thereof.
3. In
consideration of the Subscriber's agreement to defer the maturity of the Note
the number of Warrant Shares is hereby increased by 15% of its current amount.
[ie. If the Warrant currently states 30,000 shares it shall henceforth be deemed
to state 34,500].
4. With
the
exception of the above described amendments, the other provisions of the
Subscription Agreement, Note and Warrants shall remain “as is”.
IN
WITNESS WHEREOF, the parties have executed this Second Amendment as of April
1,
2008.
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Subscriber
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_______________
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_____________________
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Xxxxxxx
Braunold
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President
& CEO
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Print
Name:____________________
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