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Amendment,
dated March 26, 2009 (the “ Amendment ”) to the
Promissory Note (the “ Note ”), dated January
29, 2008, of Bonds.com Group, Inc., (the “ Borrower
”) issued to John Barry III (“ Lender ”
and together with the Borrower, the “ Parties
”). Any capitalized term used but not defined in
this Amendment shall have the meaning given to such term in the
Note.
WHEREAS, the
Borrower and the Lender would like to amend the Note as provided
herein.
NOW, THEREFORE, pursuant to Section 5(e) of the
Note, in consideration for the mutual promises contained herein and
for other good and valuable consideration the sufficiency of which
is hereby acknowledged, the parties agree as follows:
1.
Amendment to the definition of “Maturity Date”
. The definition of “Maturity Date” as set
forth in the Note shall be amended and restated to mean April 15,
2010.
2.
Amendment to Interest Rate . Effective as of the
December 31, 2008 (the original maturity date under the Note), the
interest rate on the Note shall be increased to fifteen percent
(15%) per annum from the existing rate of ten percent (10%) per
annum.
3.
Waiver of Any Accrued Penalties . To the extent
that the Lender may be entitled to any additional interest or other
amounts under the Note for any reason occurring prior to the date
hereof, the L
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