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FIRST AMENDMENT
TO
SECOND AMENDED AND
RESTATED
SENIOR SECURED CONVERTIBLE
PROMISSORY NOTE
This First
Amendment to Second Amended and Restated Senior Secured Convertible
Promissory Note (“ First Amendment ”) is made
and entered into this 10 th day of March, 2009 by EAU Technologies, Inc., a
Delaware corporation (the “ Company ”) and Water
Science, LLC, a Florida limited liability company (“
Holder ”).
BACKGROUND
WHEREAS,
Company and Holder executed and delivered that certain Second
Amended and Restated Senior Secured Convertible Promissory Note,
dated October 6, 2008, in the original principal amount of $3
million (the “ Original Note ”).
WHEREAS, the
Company and the Holder desire to execute and deliver this First
Amendment of the Original Note.
NOW, THEREFORE,
for and in consideration of the sum of Ten and No/100 Dollars
($10.00) and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and the
Holder do hereby agree as follows:
1. The
following language is hereby deleted in its entirety from Section 1
of the Original Note:
“
Default Rate ” means eight percent (8%) per
annum.
2. All
references in the Original Note to “Default
Rate” are hereby changed to “Interest
Rate” (which term is defined in Section 3 below of this
First Amendment).
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