Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - SOFTECH INC | Financial_Report.xls |
| EX-31.1 - EXHIBIT 31.1 SECTION 302 CERTIFICATION - SOFTECH INC | f10q022815_ex31z1.htm |
| EX-32.1 - EXHIBIT 32.1 SECTION 906 CERTIFICATION - SOFTECH INC | f10q022815_ex32z1.htm |
| EX-31.2 - EXHIBIT 31.2 SECTION 302 CERTIFICATION - SOFTECH INC | f10q022815_ex31z2.htm |
| 10-Q - FORM 10-Q QUARTERLY REPORT - SOFTECH INC | f10q022815_10q.htm |
AMENDMENT TO TERM NOTE
This Amendment to the Term Note (“Amendment”) is dated April 2, 2015 by and among SofTech, Inc., a Massachusetts corporation with offices at 650 Suffolk Street, Suite 415, Lowell, MA 01854 (the “Borrower”) and EssigPR, Inc., a Puerto Rico corporation (the “Lender”).
WHEREAS, the Borrower and Lender are parties to that certain Term Note dated October 1, 2014; and
WHEREAS, the Term Note is due and payable in full on April 10, 2015; and
WHEREAS, the Borrower and Lender have agreed to extend the due date an additional three months to July 10, 2015.
NOW, THEREFORE, in consideration of the foregoing and the agreements contained herein, the parties agree as follows:
1.
Term. Section 6. entitled “Term.” of the Term Note shall be amended by changing the due date from April 10, 2015 to July 10, 2015.
2.
Consideration. Borrower hereby awards Lender 2,500 stock options to purchase SofTech common stock at an exercise price of $1.00 per share. Such stock options will be fully vested upon execution of this Amendment. The stock options will expire on the ten year anniversary of the award if not exercised.
All other terms and conditions detailed in the Term Note shall remain unchanged.
BORROWER
LENDER
SofTech, Inc.
EssigPR, Inc.
By: /s/Joseph P. Mullaney
By: /s/ Joseph P. Daly
CEO
CEO
Its: ___________________
Its: __________________
April 2, 2015
April 2, 2015
Date: _________________
Date: ________________