SECOND AMENDMENT TO LOAN AGREEMENT
THIS SECOND AMENDMENT TO LOAN AGREEMENT ("Second Amendment") is made as of the 15th
day of January, 2001, by and between Bank of America, N.A., a national banking association (the "Bank") and
Frisby Technologies, Inc., a Delaware corporation ("Borrower").
W I T N E S S E T H:
WHEREAS, Bank and Borrower are parties to that certain Loan Agreement dated as of February 29, 2000 (the
"Loan Agreement"), pursuant to which Bank extended a revolving line of credit to the Borrower (the "Loan"), in
the principal amount of $2,000,000 (all capitalized terms appearing herein and not otherwise defined shall have
the meanings ascribed to such terms in the Loan Agreement); and
WHEREAS, the Loan was scheduled to mature on July 31, 2000, but the maturity date thereof was extended to
September 30, 2000 pursuant to the terms of that certain renewal Promissory Note dated May 12, 2000; and
WHEREAS, the maturity date of the Loan was further extended to December 31, 2000, pursuant to the terms of
that certain Amendment to Loan Agreement dated September 29, 2000 (the "First Amendment"); and
WHEREAS, the Borrower has repaid a portion of the principal balance of the Loan and has requested that the
Bank further extend the maturity date for payment of the remaining principal balance of the Loan to June 30,
2001; and
WHEREAS, the Bank has agreed to such extension of the maturity date of the Loan, subject to certain terms and
conditions; and
WHEREAS, the parties hereto wish to set forth their agreement with respect to the foregoing matters herein;
NOW, THEREFORE, in consideration of the premises, the Bank's agreement to extend the maturity date of the
Loan, the mutual promises set forth below, and other valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree hereby as follows:
1. Extension of Maturity Date. The Maturity Date of the Loan is hereby extended from December 31, 2000 to
June 30, 2001, which date shall hereafter b