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GLOW > SEC Filings for GLOW > Form 8-K on 25-Feb-2014All Recent SEC Filings

Show all filings for GLOWPOINT, INC.

Form 8-K for GLOWPOINT, INC.


25-Feb-2014

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obliga


Item 1.01 Entry Into a Material Definitive Agreement.

On February 24, 2014, Glowpoint, Inc. (the "Company") issued a Second Amended and Restated Nonnegotiable Promissory Note (the "Second Amended and Restated Note") in favor of Shareholder Representative Services LLC (the "Stockholder Representative"), in its capacity as the representative of the prior stockholders of Affinity VideoNet, Inc. The Second Amended and Restated Note amends and restates the Nonnegotiable Promissory Note issued by the Company in favor of the Stockholder Representative on October 1, 2012, as amended and restated by the Amended and Restated Nonnegotiable Promissory Note issued by the Company in favor of the Stockholder Representative on October 17, 2013.

Pursuant to the Second Amended and Restated Note, the principal amount has been reduced by $203,000 to $1,884,692.48 effective as of December 31, 2013, the annual interest rate has been increased from 8.0% to 10.0% effective as of December 31, 2013 and the maturity date has been extended from December 31, 2014 to January 4, 2016.

The foregoing summary description of the Second Amended and Restated Note does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amended and Restated Note, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 of this Current Report on Form 8-K concerning the Second Amended and Restated Note is incorporated into this Item 2.03 by reference.



Item 9.01 Financial Statements and Exhibits

(d)  Exhibits

Exhibit No.                               Description
    10.1       Second Amended and Restated Nonnegotiable Promissory Note in favor
               of Shareholder Representative Services LLC, on behalf of the prior
               stockholders of Affinity VideoNet, Inc., dated as of February 24,
               2014.


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