Document:

Exhibit 10.3

 

PROMISSORY NOTE EXTENSION AGREEMENT

 

This Promissory Note
Extension Agreement, hereinafter referred to as “Extension”, entered into this Fourth day of March, 2012, by and among
Intellinetics, Inc, hereinafter called “Maker” and Alpharion Capital Partners, hereinafter called “Lender”.

 

WHEREAS, Maker and
Lender have entered into a Promissory Note and Subscription Agreement dated October 7, 2011 for the amount of SEVEN THOUSAND FIVE
HUNDRED AND NO/100 DOLLARS ($7,500), hereinafter referred to as “Note”. Said Note was originally due one hundred eighty
days from its issuance.

 

WHEREAS, Maker and
Lender desire to enter into this Extension Agreement in order to extend the due date of the Note.

 

NOW, THEREFORE, it
is dually agreed by both Maker and Lender to extend the due date of the Note from one hundred eighty days to two hundred seventy
days from its date of issuance.

 

All other provisions
of the original Promissory Note and Subscription agreement shall prevail unless otherwise written.

 

IN WITNESS WHEREOF,
the undersigned Maker and Lender has duly executed this Note as of the day and year above first written.

 

	 	INTELLINETICS, INC.
	 	 	 
	 	By:	s/William J. Santiago
	 	 	 
	 	ALPHARION CAPITAL PARTNERS, INC.
	 	 	 
	 	By:	s/Rick HughesExhibit 10.4

 

PROMISSORY NOTE SECOND EXTENSION AGREEMENT

 

This Promissory Note
Extension Agreement, hereinafter referred to as “Extension”, entered into this Second day of July, 2012, by and among
Intellinetics, Inc, hereinafter called “Maker” and Alpharion Capital Partners, hereinafter called “Lender”.

 

WHEREAS, Maker and
Lender have entered into a Promissory Note and Subscription Agreement dated October 7, 2011 for the amount of SEVEN THOUSAND FIVE
HUNDRED AND NO/100 DOLLARS ($7,500), hereinafter referred to as “Note”. Said Note was originally due one hundred eighty
days from its issuance.

 

WHEREAS, Maker and
Lender have entered into a Promissory Note Extension Agreement dated March 4, 2012 for the amount of SEVEN THOUSAND FIVE HUNDRED
AND NO/100 DOLLARS ($7,500), hereinafter referred to as the “Note Extension”. Said Note Extension was originally due
two-hundred seventy days from its issuance.

 

WHEREAS, Maker and
Lender desire to enter into this Second Extension Agreement in order to extend the due date of the Note.

 

NOW, THEREFORE, it
is dually agreed by both Maker and Lender to extend the due date of the Note from two hundred seventy days to three hundred fifteen
days from its date of issuance.

 

All other provisions
of the original Promissory Note, Subscription Agreement and Promissory Note Extension Agreement shall prevail unless otherwise
written.

 

IN WITNESS WHEREOF,
the undersigned Maker and Lender has duly executed this Note as of the day and year above first written.

 

	 	INTELLINETICS, INC.
	 	 	 
	 	By:	s/William J. Santiago
	 	 	 
	 	ALPHARION CAPITAL PARTNERS, INC.
	 	 	 
	 	By:	s/Rick HughesExhibit 10.5

 

PROMISSORY NOTE

 

	$37,500.00	November 21, 2011

 

FOR VALUE
RECEIVED, on the dates and in the amounts so herein stipulated, INTELLINETICS, INC., hereinafter called
"Maker", hereby promises to pay to the order of Alpharion Capital Partners, Inc., at 9300 Shelbyville
Road, Suite 1000, Louisville, KY 40222 hereinafter called "Lender", or at such other address as Lender may
hereafter designate to Maker in writing, the sum of THRTY SEVEN THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($37,500.00), in
lawful money of the United States of America, which shall be legal tender, in payment of all debts and dues, public and
private, at the time of payment, and to pay interest on the whole of the principal amount hereof, together with all accrued
interest, from time to time outstanding prior to the maturity of this Note at a rate per annum equal to three and one-quarter
percent (3.25%).

 

This Note shall be
due and payable in a single balloon payment One Hundred Eighty (180) days after the date first written above, and shall be paid
by the Maker to Lender in immediately available funds by check or wire transfer to Lender’s bank account.

 

The principal balance
and accrued interest of this Note may be prepaid, in whole or in part, at any time without any prepayment penalty. All payments,
including prepayments, shall be applied first to accrued interest to the date of payment and then to principal. All past-due principal
and all accrued and past-due interest on this Note shall bear interest until paid at the rate set forth above.

 

It is agreed that if
default shall be made in any payment due hereon and such default is not cured within ten (10) days after written notice of such
default is given by Lender to Maker, or if there is a material default in any of the terms, covenants, agreements, conditions or
provisions set forth in any instrument or document given to secure this Note and such default is not cured within thirty (30) days
after written notice of such default is given by the Lender to the Maker or as soon thereafter as is reasonably practicable in
the event such default cannot be cured within thirty (30) days, or should Maker, become insolvent or commit an act of bankruptcy
or make an assignment for the benefit of creditors or authorize the filing of a voluntary petition in bankruptcy, or should a receiver
of any of their property be appointed, or should involuntary bankruptcy proceedings be filed or threatened against Maker, then
in any such event, at the option of the holder hereof at any time thereafter, without demand or notice, the unpaid principal balance
of this Note, and all accrued interest shall immediately become due and payable.

 

If this Note is placed
in the hands of an attorney for collection or if collected by suit or through bankruptcy, probate, receivership or other legal
or judicial proceedings, the Maker hereof agrees to pay as the reasonable costs of collection and reasonable attorney's fees incurred
related thereto.

    	 

    	 

    

 

The Maker (i) waives
demand, presentment for payment, notice of intention to accelerate the maturity of this Note and to declare the entire balance
of the indebtedness evidenced hereby due and payable, notice that the entire balance of the indebtedness evidenced hereby has been
declared due and payable, notice of nonpayment, protest, notice of protest and all other notices, filing of suit and diligence
in collecting this Note or enforcing any of the security herefor, (ii) agrees to any substitution, exchange or release of any such
security or the release of any party primarily or secondarily liable hereon, (iii) agrees that Lender or other holder hereof shall
not be required first to institute suit or exhaust its remedies hereon against the Maker or others liable or to become liable hereon
or enforce its rights against any security herefor in order to enforce payment of this Note by it, and (iv) consents to any extensions
or postponement of time of payment of this Note and to any other indulgence with respect hereto without notice thereof to any of
them.

 

Any check, draft, money
order or other instrument given in payment of all or any portion of this Note may be accepted by the Lender of any other holder
hereof and handled for collection in the customary manner, but the same shall not constitute payment hereunder or diminish any
right of the Lender or any other holder hereof, except to the extent that actual cash proceeds of such instrument are unconditionally
received by the Lender or any other holder hereof and applied to this indebtedness as herein provided.

 

This Note shall be
paid and performed in the State of Ohio, and the laws of the State of Ohio shall govern the construction, validity, enforcement,
and interpretation hereof, except to the extent federal laws otherwise govern the validity, construction, enforcement, and interpretation
hereof. If any additional rights or remedies are hereafter granted to creditors under the laws of the State of Ohio or under the
laws of the United States of America, the Lender shall also have and may exercise any such additional rights or remedies. Venue
for any action brought on this Note shall be proper in any state or federal court sitting in Columbus, Ohio, and having jurisdiction
of such action.

 

IN WITNESS WHEREOF,
the undersigned Maker has duly executed this Note as of the day and year above first written.

 

	 	INTELLINETICS, INC.
	 	 	 
	 	By:	s/William J. Santiago

 

    	2Exhibit 10.6

 

PROMISSORY NOTE EXTENSION AGREEMENT

 

This Promissory Note
Extension Agreement, hereinafter referred to as “Extension”, entered into this Thirteenth day of May, 2012, by and
among Intellinetics, Inc, hereinafter called “Maker” and Alpharion Capital Partners, hereinafter called “Lender”.

 

WHEREAS, Maker and
Lender have entered into a Promissory Note and Subscription Agreement dated November 21, 2011 for the amount of THIRTY SEVEN THOUSAND
FIVE HUNDRED AND NO/100 DOLLARS ($37,500), hereinafter referred to as “Note”. Said Note was originally due one hundred
eighty days from its issuance.

 

WHEREAS, Maker and
Lender desire to enter into this Extension Agreement in order to extend the due date of the Note.

 

NOW, THEREFORE, it
is dually agreed by both Maker and Lender to extend the due date of the Note from one hundred eighty days to two hundred seventy
days from its date of issuance.

 

All other provisions
of the original Promissory Note and Subscription agreement shall prevail unless otherwise written.

 

IN WITNESS WHEREOF,
the undersigned Maker and Lender has duly executed this Note as of the day and year above first written.

 

	 	INTELLINETICS, INC.
	 	 	 
	 	By:	s/William J. Santiago
	 	 	 
	 	ALPHARION CAPITAL PARTNERS, INC.
	 	 	 
	 	By:	s/Rick HughesExhibit 10.7

 

PROMISSORY NOTE

 

	$13,556.39	January 4, 2012

 

FOR VALUE
RECEIVED, on the dates and in the amounts so herein stipulated, INTELLINETICS, INC., hereinafter called
"Maker", hereby promises to pay to the order of Alpharion Capital Partners, Inc., at 9300 Shelbyville
Road, Suite 1000, Louisville, KY 40222 hereinafter called "Lender", or at such other address as Lender may
hereafter designate to Maker in writing, the sum of THIRTEEN THOUSAND FIVE HUNDRED FIFTY-SIX AND 39/100 DOLLARS ($13,556.39),
in lawful money of the United States of America, which shall be legal tender, in payment of all debts and dues, public and
private, at the time of payment, and to pay interest on the whole of the principal amount hereof, together with all accrued
interest, from time to time outstanding prior to the maturity of this Note at a rate per annum equal to three and one-quarter
percent (3.25%).

 

This Note shall be
due and payable in a single balloon payment One Hundred Eighty (180) days after the date first written above, and shall be paid
by the Maker to Lender in immediately available funds by check or wire transfer to Lender’s bank account.

 

The principal balance
and accrued interest of this Note may be prepaid, in whole or in part, at any time without any prepayment penalty. All payments,
including prepayments, shall be applied first to accrued interest to the date of payment and then to principal. All past-due principal
and all accrued and past-due interest on this Note shall bear interest until paid at the rate set forth above.

 

It is agreed that if
default shall be made in any payment due hereon and such default is not cured within ten (10) days after written notice of such
default is given by Lender to Maker, or if there is a material default in any of the terms, covenants, agreements, conditions or
provisions set forth in any instrument or document given to secure this Note and such default is not cured within thirty (30) days
after written notice of such default is given by the Lender to the Maker or as soon thereafter as is reasonably practicable in
the event such default cannot be cured within thirty (30) days, or should Maker, become insolvent or commit an act of bankruptcy
or make an assignment for the benefit of creditors or authorize the filing of a voluntary petition in bankruptcy, or should a receiver
of any of their property be appointed, or should involuntary bankruptcy proceedings be filed or threatened against Maker, then
in any such event, at the option of the holder hereof at any time thereafter, without demand or notice, the unpaid principal balance
of this Note, and all accrued interest shall immediately become due and payable.

 

If this Note is placed
in the hands of an attorney for collection or if collected by suit or through bankruptcy, probate, receivership or other legal
or judicial proceedings, the Maker hereof agrees to pay as the reasonable costs of collection and reasonable attorney's fees incurred
related thereto.

 

    	 

    	 

    

 

The Maker (i) waives
demand, presentment for payment, notice of intention to accelerate the maturity of this Note and to declare the entire balance
of the indebtedness evidenced hereby due and payable, notice that the entire balance of the indebtedness evidenced hereby has been
declared due and payable, notice of nonpayment, protest, notice of protest and all other notices, filing of suit and diligence
in collecting this Note or enforcing any of the security herefor, (ii) agrees to any substitution, exchange or release of any such
security or the release of any party primarily or secondarily liable hereon, (iii) agrees that Lender or other holder hereof shall
not be required first to institute suit or exhaust its remedies hereon against the Maker or others liable or to become liable hereon
or enforce its rights against any security herefor in order to enforce payment of this Note by it, and (iv) consents to any extensions
or postponement of time of payment of this Note and to any other indulgence with respect hereto without notice thereof to any of
them.

 

Any check, draft, money
order or other instrument given in payment of all or any portion of this Note may be accepted by the Lender of any other holder
hereof and handled for collection in the customary manner, but the same shall not constitute payment hereunder or diminish any
right of the Lender or any other holder hereof, except to the extent that actual cash proceeds of such instrument are unconditionally
received by the Lender or any other holder hereof and applied to this indebtedness as herein provided.

 

This Note shall be
paid and performed in the State of Ohio, and the laws of the State of Ohio shall govern the construction, validity, enforcement,
and interpretation hereof, except to the extent federal laws otherwise govern the validity, construction, enforcement, and interpretation
hereof. If any additional rights or remedies are hereafter granted to creditors under the laws of the State of Ohio or under the
laws of the United States of America, the Lender shall also have and may exercise any such additional rights or remedies. Venue
for any action brought on this Note shall be proper in any state or federal court sitting in Columbus, Ohio, and having jurisdiction
of such action.

 

IN WITNESS WHEREOF,
the undersigned Maker has duly executed this Note as of the day and year above first written.

 

	 	INTELLINETICS, INC.
	 	 	 
	 	By:	s/ William J. Santiago

 

    	2

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