Exhibit 10.1

 

AMENDMENT NO. 1 TO PROMISSORY NOTE

 

AMENDMENT NO. 1 TO PROMISSORY NOTE, dated as of March 31, 2010 (this
“Amendment”), among (a) CornerWorld Corporation, a Nevada corporation (the
“Borrower”) and (b) IU INVESTMENTS, LLC (“Lender”).

 

WITNESSETH:

 

WHEREAS, on February 23, 2009, the Borrower and the Lender party thereto entered
into the Promissory Note dated as of February 23, 2009 (as it may be amended
from time to time, the “Promissory Note”).

 

WHEREAS, on or about December 1, 2009, the Borrower and the Lender executed a
waiver (the “Waiver”) pursuant to which the Lender agreed to waive, during the
period from December 1, 2009 through February 28, 2010, their rights and
remedies under the Promissory Note.

 

WHEREAS, the Borrower has requested, and the Lender has agreed, to amend the
Promissory Note as set forth below.

 

NOW, THEREFORE, in consideration of the premises and the agreements hereinafter
contained, and for other good and valuable consideration, notwithstanding any
provisions of the Promissory Note to the contrary, the parties hereto hereby
agree as follows:

 

Lender and Borrower and borrower agree to remove Schedule A to the Promissory
Note and replace it in its entirety with Schedule A as attached hereto. Interest
payments and all other terms remain as stated in the original agreement.

 

 

 

/s/ Scott N. Beck

 

By: Scott N. Beck

 

CORNERWORLD CORPORATION

 

Its: Chief Executive Officer

 

 

 

 

 

/s/ Doug Levy

 

By: Doug Levy

 

IU INVESTMENTS, LLC

 

1

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Schedule A to Promissory Note:

 

Scheduled Payment Date

Amount

 

 

April 15, 2009

$145,000

 

 

May 15, 2009

$145,000

 

 

June 15, 2009

$145,000

 

 

July 15, 2009

$145,000

 

 

August 15, 2009

$145,000

 

 

September 15, 2009

$145,000

 

 

October 15, 2009

$145,000

 

 

November 15, 2009

$145,000

 

 

March 25, 2010

$25,000

 

 

April 25, 2010

$50,000

 

 

May 25, 2010

$75,000

 

 

June 25, 2010

$75,000

 

 

July 25, 2010

$75,000

 

 

August 25, 2010

$75,000

 

 

September 25, 2010

$75,000

 

 

October 25, 2010

$75,000

 

 

November 25, 2010

$75,000

 

 

December 25, 2010

$140,000

 

2

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