Other Events
ITEM 8.01. Other Events.
e. Digital Corporation has entered into amendments with the holders of the companys 12% Subordinated Promissory Notes (12% Notes) to (i) extend the maturity date under the 12% Notes from December 31, 2005 to December 31, 2006,
(ii) authorize an additional $500,000 in principal amount of 12% Notes (the Additional Notes), (iii) pay the purchasers of the Additional Notes (in the aggregate) a royalty as consideration for the additional financing necessary for the development of the companys new MedeViewer product equal to up to Twenty Dollars ($20.00) for each MedeViewer sold for a period of three years (the Royalty) and (iv) change the terms of conversion.
The full text of each amended agreement is attached hereto as Exhibit 4.50.1 and Exhibit 4.51.2, respectively.