Document:

american_ex103.htm

EXHIBIT 10.4

 

EXTENSION AGREEMENT OF PROMISSORY NOTE DATED NOVEMBER 7, 2011

For good and valuable consideration, Dean Lynch (holder) and American Retail Alliance, Corp. (ARA), formerly Phillips Sales and Marketing, Inc., (maker), do hereby agree that the Promissory Note dated November 7, 2011 in the original principle sum of $100,000, shall be extended and modified in the respects shown below.  A true copy of the original promissory note is attached.

 

	
1.  

	
 The unpaid principle balance of this promissory note as of this date is $100,000.

 

	
2.  

	
The interest rate shall remain at 8% per annum due and payable at the term end of Note.

 

	
3.  

	
There shall be no monthly payments of principle or interest.

 

	
4.  

	
The entire principle balance of $100,000 and all accrued interest shall be payable in full on November 7, 2013, without prior notice, demand or presentment to the maker.

 

	
5.  

	
ARA agrees to transfer to holder Two Hundred Thousand (200,000) shares of ARA's restricted common stock.

 

In all other respects not specifically mentioned herein, the said promissory note shall remain unchanged and shall be fully enforceable in accordance with its terms.

 

This agreement is entered into as of the 14th day of December, 2012.

 

IN WITNESS WHEREOF, the parties hereto have each executed and delivered this Agreement as of the day and year first above written.

 

 

American Retail Alliance, Corp.:

 

	
Signature:

	 

 

Print Name: Brett Phillips, President

 

Phone# (727) 581-1500

 

Dean Lynch:

 

	
Signature:

	 

 

Print Name:

 

Phone#EXHIBIT 10.1

 

EXCHANGE
AGREEMENT

 

THIS
AGREEMENT, dated as of February 12, 2013, is entered into by and between ON-AIR IMPACT, INC., (the “Company”)
and VIRGINIA K SOURLIS (“SOURLIS”).

 

WITNESSETH:

 

WHEREAS,
SOURLIS holds 4,000,000 Series A Convertible Preferred Shares of the Company (“Preferred Shares”); and

 

WHEREAS,
SOURLIS is willing to exchange the Preferred Shares for a non-convertible Promissory Note in the amount of $8,000 (the
“Note”).

 

NOW,
THEREFORE, in consideration for the foregoing, the parties hereto agree as follows:

 

	1.	SOURLIS
                                                                                                                                                                                                             and
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Company
                                                                                                                                                                                                             hereby
                                                                                                                                                                                                             agree
                                                                                                                                                                                                             to
                                                                                                                                                                                                             exchange
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Preferred
                                                                                                                                                                                                             Shares
                                                                                                                                                                                                             for
                                                                                                                                                                                                             an
                                                                                                                                                                                                             $8,000
                                                                                                                                                                                                             non-convertible
                                                                                                                                                                                                             Promissory
                                                                                                                                                                                                             Note
                                                                                                                                                                                                             pursuant.
                                                                                                                                                                                                             Thus.,
                                                                                                                                                                                                             concurrently
                                                                                                                                                                                                             with
                                                                                                                                                                                                             the
                                                                                                                                                                                                             execution
                                                                                                                                                                                                             of
                                                                                                                                                                                                             this
                                                                                                                                                                                                             Agreement,
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Preferred
                                                                                                                                                                                                             Shares
                                                                                                                                                                                                             shall
                                                                                                                                                                                                             immediately
                                                                                                                                                                                                             and
                                                                                                                                                                                                             automatically
                                                                                                                                                                                                             be
                                                                                                                                                                                                             cancelled
                                                                                                                                                                                                             on
                                                                                                                                                                                                             the
                                                                                                                                                                                                             books
                                                                                                                                                                                                             of
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Company.

 

IN
WITNESS WHEREOF, the Company and SOURLIS have caused this Agreement to be executed by their duly authorized representatives
on the date as first written above.

 

	/s/
    Virginia K. Sourlis	 
	Virginia
    K. Sourlis	 

  

	ON-AIR
    IMPACT, INC.	 
	 	 	 
	By:	/s/
    Dorothy Whitehouse	 
	 	Dorothy
    Whitehouse	 
	 	Director
    and President

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