FIRST MODIFICATION TO SETTLEMENT AGREEMENT
Exhibit 10.12
FIRST MODIFICATION TO
SETTLEMENT AGREEMENT
The
parties hereto, CAMOFI Master LDC (“CAMOFI”), and Global Axcess Corp (“Global”),
having entered into that certain Settlement Agreement dated August 12, 2008,
providing among other things that Global will pay to CAMOFI the sum of
$3,700,000 to cancel a certain Note, within 90 days thereof (or on or before
November 10, 2008), do hereby agree to extend the closing of the refinancing
required in Section D of the Settlement Agreement, to December 31,
2008. All other provisions of the Settlement Agreement shall remain
unchanged and in full force and effect.
Dated: November
6, 2008
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/s/ Xxxxxxx
Xxxx
Xxxxxxx
Xxxx
CAMOFI
Master LDC
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/s/ Xxxxxx X.
XxXxxxx
Xxxxxx
X. XxXxxxx
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