Document:

exv10w58

 

Exhibit 10.58

FIRST AMENDMENT TO

SECURED PROMISSORY NOTE

THIS FIRST AMENDMENT TO SECURED PROMISSORY NOTE (this “Amendment”), dated as of January 26,
2005, is entered into between Health Holdings & Botanicals, LLC (the “Lender”), and
NATURADE, INC., a Delaware corporation (the “Borrower”).

RECITALS

A. The Borrower and the Lender have entered into a SECURED PROMISSORY NOTE dated as of April 14,
2004, (the “Loan Agreement”). Capitalized terms used herein have the meanings given to
them in the Loan Agreement unless otherwise specified.

B. The Borrower has requested that the Lender amend the payment provisions of the Loan Agreement.

AMENDMENT

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     2. Amendments to Loan Agreement.

	 	a.  	Effective January 26, 2005 payments on the Loan Agreement will be
amended as follows:

	 	i.  	On or before December 31, 2005 Borrower will
pay principal of $100,000 plus accrued interest
	 
	 	ii.  	No cash interest will be paid until principal
is paid in full.
	 
	 	iii.  	Interest will be compounded on a quarterly
basis.

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

 Naturade, Inc.

/s/Stephen M. Kasprisin

Stephen M. Kasprisin

Chief Operating Officer

Health Holdings & Botanicals, LLC

/s/ Lionel Boissiere

By: Lionel Boissiere

Its: General Partnerexv10w59

 

Exhibit 10.59

FIRST AMENDMENT TO

SECURED PROMISSORY NOTE

THIS FIRST AMENDMENT TO SECURED PROMISSORY NOTE (this “Amendment”), dated as of January 26,
2005, is entered into between Health Holdings & Botanicals, LLC (the “Lender”), and
NATURADE, INC., a Delaware corporation (the “Borrower”).

RECITALS

A. The Borrower and the Lender have entered into a SECURED PROMISSORY NOTE dated as of May 3, 2004,
(the “Loan Agreement”). Capitalized terms used herein have the meanings given to them in
the Loan Agreement unless otherwise specified.

B. The Borrower has requested that the Lender amend the payment provisions of the Loan Agreement.

AMENDMENT

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     3. Amendments to Loan Agreement.

	 	a.  	Effective January 26, 2005 payments on the Loan Agreement will be
amended as follows:

	 	i.  	On or before December 31, 2005 Borrower will
pay principal of $75,000 plus accrued interest
	 
	 	ii.  	No cash interest will be paid until principal
is paid in full.
	 
	 	iii.  	Interest will be compounded on a quarterly
basis.

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

 Naturade, Inc.

/s/Stephen M. Kasprisin

Stephen M. Kasprisin

Chief Operating Officer

Health Holdings & Botanicals, LLC

/s/ Lionel Boissiere

By: Lionel Boissiere

Its: General Partnerexv10w60

 

Exhibit 10.60

FIRST AMENDMENT TO

SECURED PROMISSORY NOTE

THIS FIRST AMENDMENT TO SECURED PROMISSORY NOTE (this “Amendment”), dated as of January 26,
2005, is entered into between Health Holdings & Botanicals, LLC (the “Lender”), and
NATURADE, INC., a Delaware corporation (the “Borrower”).

RECITALS

A. The Borrower and the Lender have entered into a SECURED PROMISSORY NOTE dated as of August 16,
2004, (the “Loan Agreement”). Capitalized terms used herein have the meanings given to
them in the Loan Agreement unless otherwise specified.

B. The Borrower has requested that the Lender amend the payment provisions of the Loan Agreement.

AMENDMENT

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     4. Amendments to Loan Agreement.

	 	a.  	Effective January 26, 2005 payments on the Loan Agreement will be
amended as follows:

	 	i.  	On or before December 31, 2005 Borrower will
pay principal of $200,000 plus accrued interest
	 
	 	ii.  	No cash interest will be paid until principal
is paid in full.
	 
	 	iii.  	Interest will be compounded on a quarterly
basis.

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

 Naturade, Inc.

/s/Stephen M. Kasprisin

Stephen M. Kasprisin

Chief Operating Officer

Health Holdings & Botanicals, LLC

/s/ Lionel Boissiere

By: Lionel Boissiere

Its: General Partnerexv10w61

 

Exhibit 10.61

FIRST AMENDMENT TO

SECURED PROMISSORY NOTE

THIS FIRST AMENDMENT TO SECURED PROMISSORY NOTE (this “Amendment”), dated as of January 26,
2005, is entered into between David A. Weil (the “Lender”), and NATURADE, INC., a Delaware
corporation (the “Borrower”).

RECITALS

A. The Borrower and the Lender have entered into a SECURED PROMISSORY NOTE dated as of April 13,
2003 (the “Loan Agreement”). Capitalized terms used herein have the meanings given to them
in the Loan Agreement unless otherwise specified.

B. The Borrower has requested that the Lender amend the payment provisions of the Loan Agreement.

AMENDMENT

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     5. Amendments to Loan Agreement.

	 	a.  	Effective January 26, 2005 payments on the Loan Agreement will be
amended as follows:

	 	i.  	On or before December 31, 2005 Borrower will
pay principal of $50,000 plus accrued interest
	 
	 	ii.  	Cash interest of 6% will be paid quarterly with
the remaining interest is paid in full at termination of Note.
	 
	 	iii.  	Accrued interest will be compounded on a
quarterly basis.

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

 Naturade, Inc.

/s/Stephen M. Kasprisin

Stephen M. Kasprisin

Chief Operating Officer

David A. Weil

/s/ David A. Weilexv10w62

 

Exhibit 10.62

FIRST AMENDMENT TO

SECURED PROMISSORY NOTE

THIS FIRST AMENDMENT TO SECURED PROMISSORY NOTE (this “Amendment”), dated as of January 26,
2005, is entered into between David A. Weil (the “Lender”), and NATURADE, INC., a Delaware
corporation (the “Borrower”).

RECITALS

A. The Borrower and the Lender have entered into a SECURED PROMISSORY NOTE dated as of May 3, 2004
(the “Loan Agreement”). Capitalized terms used herein have the meanings given to them in
the Loan Agreement unless otherwise specified.

B. The Borrower has requested that the Lender amend the payment provisions of the Loan Agreement.

AMENDMENT

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     6. Amendments to Loan Agreement.

	 	a.  	Effective January 26, 2005 payments on the Loan Agreement will be
amended as follows:

	 	i.  	On or before December 31, 2005 Borrower will
pay principal of $25,000 plus accrued interest
	 
	 	ii.  	Cash interest of 6% will be paid quarterly with
the remaining interest is paid in full at termination of Note.
	 
	 	iii.  	Accrued interest will be compounded on a
quarterly basis.

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

 Naturade, Inc.

/s/Stephen M. Kasprisin

Stephen M. Kasprisin

Chief Operating Officer

David A. Weil

/s/ David A. Weilexv10w63

 

Exhibit 10.63

FIRST AMENDMENT TO

SECURED PROMISSORY NOTE

THIS FIRST AMENDMENT TO SECURED PROMISSORY NOTE (this “Amendment”), dated as of January 26,
2005, is entered into between Bill D. Stewart (the “Lender”), and NATURADE, INC., a
Delaware corporation (the “Borrower”).

RECITALS

A. The Borrower and the Lender have entered into a SECURED PROMISSORY NOTE dated as of April 14,
2004 (the “Loan Agreement”). Capitalized terms used herein have the meanings given to them
in the Loan Agreement unless otherwise specified.

B. The Borrower has requested that the Lender amend the payment provisions of the Loan Agreement.

AMENDMENT

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

     7. Amendments to Loan Agreement.

	 	a.  	Effective January 26, 2005 payments on the Loan Agreement will be
amended as follows:

	 	i.  	On or before December 31, 2005 Borrower will

pay principal of $100,000 plus accrued interest
	 
	 	ii.  	No cash interest will be paid until principal
is paid in full.
	 
	 	iii.  	Interest will be compounded on a quarterly
basis.

IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

Naturade, Inc.

/s/ Stephen M. Kasprisin

Stephen M. Kasprisin

Chief Operating Officer

Bill D. Stewart

/s/ Bill D. StewartEXHIBIT 10.64

 

Exhibit 10.64

THIRD AMENDMENT TO

LOAN AGREEMENT

     THIS third AMENDMENT TO LOAN AGREEMENT (this “Amendment”), dated as of March 24,
2005, is entered into between HOWARD SHAO (the “Lender”), and NATURADE, INC., a Delaware
corporation (the “Borrower”).

RECITALS

     A. The Borrower and the Lender have entered into a LOAN AGREEMENT dated as of August 31, 2000,
(the “Loan Agreement”). Capitalized terms used herein have the meanings given to them in
the Loan Agreement unless otherwise specified.

     B. The Borrower has requested that the Lender amend the payment provisions of the Loan
Agreement.

AMENDMENT

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

	 	1.  	Payments on the Loan Agreement will be amended as follows:

	 	a.  	On or before July 15, 2005 Borrower will pay principal of
$20,000 plus accrued interest to June 30, 2005.
	 
	 	b.  	On or before December 31, 2005 Borrower will pay principal of
$92,345 plus accrued interest from July 1, 2005 until date principal is paid
in full.

	 	2.  	Section 4 “Lender Group’s Right to Convert” of the Loan Agreement is hereby
deleted in its entirety.

     IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written.

Naturade, Inc.

/s/ Stephen M. Kasprisin

Stephen M. Kasprisin

Chief Financial Officer

/s/ Howard Shao

Howard Shao

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