Consolidated Note Modification Agreement
AGREEMENT by and between Protalex, Inc., a Delaware corporation (the “Company”) and Niobe Ventures, LLC, a Delaware limited liability company (“Niobe”).
WHEREAS, Niobe is the holder of a Consolidated, Amended and Restated Promissory Note (the “Outstanding Note”) made by the Company in the principal amount of $9,219,366, dated October 11, 2013, with a Maturity Date of September 1, 2015 (as defined in the Outstanding Note); and
WHEREAS, the parties desire to extend the Maturity Date to September 1, 2016;
NOW THEREFORE, the parties hereby agree as follows:
|1.||The Maturity Date is hereby extended to September 1, 2016.|
|2.||The Note Modification provided for herein shall be retroactively effective to October 1, 2014.|
|3.||Except as otherwise modified hereby, all other terms and provisions of the Outstanding Note shall remain in full force and effect.|
IN WITNESS WHEREOF, the parties have duly executed and delivered this Note Modification Agreement as of the date indicated below.
Dated: October 6, 2014
|Kirk M. Warshaw, Chief Financial Officer|
|NIOBE VENTURES, LLC|
|Arnold P. Kling, Manager|