INFINITE GROUP, INC. Stock Option Agreement (This “Agreement”)Stock Option Agreement • November 4th, 2016 • Infinite Group Inc • Services-computer programming, data processing, etc. • New York
WHEREAS, Infinite Group, Inc., a Delaware corporation (the “Company”), hereby desires to compensate Donald W. Reeve (the “Optionee”) with a fee pursuant to the Company’s and the Optionee’s $400,000 line of credit note agreement and Modification Agreement No. 1 to the Line of Credit Note Agreement (”LOC Note”) effective on September 30, 2016 which extends the maturity of the LOC Note to January 1, 2020 (“Financing”); and
LINE OF CREDIT NOTEModification Agreement • November 4th, 2016 • Infinite Group Inc • Services-computer programming, data processing, etc.
This MODIFICATION AGREEMENT is made as of September 30, 2016 between Infinite Group, Inc., a Delaware corporation with offices at 175 Sully’s Trail, Suite 202, Pittsford, NY 14534 (“Borrower”) and Donald W. Reeve, with an address at 7 Cross Meadow Lane, Pittsford, NY 14534 (“Lender”).
