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MEDIABISTRO INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

April 29, 2014



Item 1.01 Entry into a Material Definitive Agreement

On April 25, 2014, Mediabistro Inc. (the "Company") and its wholly owned subsidiaries, Mediabistro.com Subsidiary Inc. and Inside Network, Inc., entered into a Note Modification Agreement with Alan M. Meckler, the Company's Chairman and Chief Executive Officer. Pursuant to the agreement, the parties amended the Second Amended and Restated Promissory Note issued in November 2013 to increase the outstanding principal amount by $300,000.00 to $9,094,604.30. Additionally, upon the written request of the Company, Mr. Meckler agreed to lend the Company up to an additional $700,000.00 in one or more advances pursuant to one or more note modification agreements. Interest accrues on the additional $300,000.00 principal amount as of April 25, 2014. All other terms of Second Amended and Restated Promissory Note remain unchanged.

The Note was approved by all of the independent members of the Company's Board of Directors, none of whom has a direct or indirect interest in the promissory note or the note modification agreement.

The description of the transactions described in this Item 1.01 does not purport to be complete and is qualified in its entirety by the terms of the Note Modification Agreement, which is attached hereto as Exhibit 10.67.

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

The disclosure provided under Item 1.01 above is hereby incorporated by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits Exhibit No. Description 10.67 Note Modification Agreement dated as of April 25, 2014, by and among Mediabistro Inc., Mediabistro.com Subsidiary Inc., Inside Network, Inc. and Alan M. Meckler.


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Source: Edgar Glimpses


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