Document:

Note Extensions

 

EXHIBIT 10.1

To:

Edward A. Cespedes, CEO, Paymeon, Inc.

From:

Vincent L. Celentano and affiliates

Mary Celentano and affiliates

William Celentano and affiliates

Date: 

April 4, 2018

Subject:

Note Extensions

Please use this letter as your authorization to extend any and all debt currently outstanding and due us or our affiliates to December 31, 2018.  This applies to any Notes that may have already passed their due dates, as well as Notes that have not yet come due.

In conjunction with the extensions, we waive any and all penalties (if any).  We have not received any additional consideration in exchange for the extensions.  All Notes should be extended with exactly the same terms and conditions.

Please let us know if you require anything further. Thank you.

Sincerely, 

					
	 
	 
	 
	 
	 

	Vincent L. Celentano

	 
	Mary Celentano

	 
	William CelentanoSecond Amendment to Convertible Promissory Note

 

EXHIBIT 10.2

SECOND AMENDMENT TO

PAYMEON, INC.

(a Nevada corporation)

CONVERTIBLE PROMISSORY NOTE

Dated October 22, 2015

This Second Amendment to the above-referenced promissory note (hereinafter referred to as the “Note”), between PayMeOn, Inc., as Borrower, and Mark Lechter and Scott Balson, as Holder or Lender shall be effective upon execution.  Borrower and Holder/Lender shall collectively be referred to as the “Parties”.  This Amendment shall control in the event of conflict between the terms herein and the terms in the Note.  Any terms in the Note not specifically addressed herein shall remain in full force and effect, and shall be read and construed in a manner consistent with the terms herein. 

WHEREAS, the parties desire to extend the Maturity Date of the Note, as defined therein; and

WHEREAS, the Borrower desires to begin making periodic payments of interest and principal; and

WHEREAS, the Parties desire to increase the number stock shares to which Holder shall be entitled; and 

WHEREAS, the Parties desire to confirm the interest rate applicable to the Note.

NOW THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, it is agreed by and between the Parties as follows:

1.

      That the above recitations are true and correct, and are incorporated herein as if set forth in detail.

2.

       That this Second Amendment shall be incorporated into the Note as if fully set forth therein, and shall control in the event of any conflict between the terms hereof and the terms of the Note or the prior Addendum thereto.

3.

       That all references to the Maturity Date in the Note or the prior Addendum shall mean April 22, 2021.

4.

       The interest on the Note shall be 10% for the remaining life of the subject loan.  However, if Borrower enters into any additional agreements obligating itself to pay interest in excess of 10% per annum, Borrower shall timely notify Lender, and shall provide copies of any such obligation.  In that event, the interest rate for the Note and this Amendment shall be changed to equal interest being paid under the other obligations.

 

5.

        That the Parties have agreed that, in addition to all fully paid and non-assessable shares of Common Stock reference in the Note and the Amendment dated September 22, 2017, (“the Share”), Holder shall receive 274,575 Shares upon execution of this Second Amendment, for a total of 1,500,000 shares.

6.

         The Borrower will pay Holder the sum of $5,000 each month on the 22nd day of the month for a period to 36 months beginning April 22, 2018.  That amount will be comprised $2,500 to be applied toward interest accruing on the outstanding balance of the Note, and $2,500 to be applied toward outstanding principal on the Note.

7.

        The Holder may elect to convert the Note as provided therein, at which time Holder shall receive from Borrower 1,500,000 Shares, which sum shall be adjusted based both upon principal and interest payments received and interest accrued by Holder pursuant to this Second Addendum.  Any reduction in Shares shall be based upon the Note conversion rate of $0.35 per share.  If Holder elects to convert the entire Note, then upon Holder’s receipt of the Shares, Borrower shall be relieved of the obligation to pay $5,000 each month to Holder.

8.

        That this Addendum may be executed in any number of counterparts and by the different parties hereto on separate counterparts, and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute one and the same Addendum. Further, facsimiles of signature shall be enforceable to the same extent as an original signature.

Agreed by the Parties on the _____ day of April 2018 

BORROWER:

PAYMEON, INC.

	
	 

	Edward Cespedes, President

HOLDER:

			
	 
	 
	 

	Mark Lechter

	 
	Scott BalsonFORM OF DEMAND PROMISSORY NOTE

 

EXHIBIT 10.3

DEMAND PROMISSORY NOTE 

 

 

		
	Amount _________

	Date ____________

 

FOR VALUE RECEIVED, the undersigned, Paymeon, Inc. (“Maker”) promises to pay to the order of VCVC, LLC, a Florida limited liability company (together with any subsequent holder hereof, “Holder”), the sum of ___________________________________________________.  The Note shall be repayable on demand.  The Note shall accrue interest at the rate of 4% per annum.

 

This Note may be prepaid in whole or in part without premium or penalty. All payments shall be made in lawful money of the United States of America and shall be applied first to fees and costs, including collection costs, if any, next to interest, if any, then to principal. The records of Holder with respect to amounts due and payments received hereunder shall be presumed to be correct evidence thereof.

 

No delay or omission on the part of Holder in exercising its rights under this Note, or delay or omission on the part of Holder in exercising its rights hereunder or under any instrument, document or agreement securing or executed in connection with this Note, or course of conduct relating thereto, shall operate as a waiver of such rights or any other right of Holder, nor shall any waiver by Holder of any such right or rights on any one occasion be deemed a bar to, or waiver of, the same right or rights on any future occasion. Acceptance by Holder of any payment after its due date shall not be deemed a waiver of the right to require prompt payment when due of all other sums, and acceptance of any payment after Holder has declared the indebtedness evidenced by this Note due and payable shall not cure any Event of Default or operate as a waiver of any right of Holder. 

 

Time is of the essence of this Note. 

 

All notices under this Note shall be in writing and shall be deemed to have been given three (3) business days after deposit in the mail, designated as certified mail, return receipt requested, postage-prepaid, or one (1) business day after being entrusted to a reputable commercial overnight delivery service, addressed to Maker as set forth opposite its signature to this Note. Maker may change the address to which notices shall be directed by giving three (3) business days written notice of such change to Holder. 

 

This Note shall be governed by and construed in accordance with the laws of the State of Florida without regard to conflict of laws principles. In the event Holder determines it necessary to institute suit to collect on this Note, the action may be maintained in Broward County, Florida, and Maker hereby consents, and waives any and all defenses it may have, to the institution and maintenance of action in that jurisdiction. 

 

This Note may not be changed or waived orally, but only by an agreement in writing and signed by the party against whom enforcement of any change or waiver is sought.  This Note shall be binding upon Maker and its successors and assigns and shall inure to the benefit of Holder and its successors and assigns. 

 

 

  

 

 

 

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

 

 

		
	 
	Paymeon, Inc.FORM OF PROMISSORY NOTE

 

EXHIBIT 10.4

PROMISSORY NOTE 

		
	Amount _______

	Date _______

FOR VALUE RECEIVED, the undersigned (hereinafter referred to as "Maker") promises to pay to the order of RVRM HOLDINGS, LLC, at such address as the Lender shall specify in writing to the Borrower, (hereinafter collectively referred to as the "Lender"), the principal sum of ___________________ (US $________), together with interest thereon from the date or dates of disbursement of the aforesaid principal sum. Principal and interest shall be payable as follows: 

The entire outstanding principal balance together with accrued interest shall be due and payable to Lender NINETY DAYS from the date of this Note. 

Interest on this Note shall accrue at a rate of Four Percent (4%) per annum commencing on the date of this Note. 

Interest on this Note shall be computed on the basis of a 360-day year consisting of twelve 30-day months for the actual number of days elapsed. The aforesaid payments shall be applied first to accrued interest on the unpaid balance at the rate herein above specified and next to the payment of principal. Interest shall be accrued on the unpaid balance of principal existing on each day during the payment period. 

This Note may be prepaid in part or in full at any time without penalty. The payment of any larger or additional sum in advance of the payments herein required shall not relieve the Maker of the payment of the regular installments or of any other sums due as herein provided. 

It is agreed hereby that if any payment of the principal sum or above mentioned interest, or any installment thereof, or any interest thereon, not be made within ten (10) business days of when due or in the event default be made in the performance or compliance with any of the covenants and conditions of this Note; or upon any default in the payment of any sum due by Maker to Lender under any other note, security instrument or other written obligation of any kind now existing or hereafter created; or upon the insolvency, bankruptcy, or dissolution of the Maker hereof; then, in any or all such events, the entire amount of principal of this Note with all interest then accrued, shall, at the option of the Lender of this Note and without notice (the Maker hereby expressly waives notice of such default), become and be due and collectible, time being of the essence of this Note. 

This Note shall be the joint and several obligations of all makers, sureties, guarantors, and endorsers, and shall be binding upon them, their heirs, personal representatives, successors, and assigns. Each and every of the aforementioned parties, and all other parties, and all other persons now or hereafter becoming parties hereto and obligated or liable for the payment hereof, do, jointly and severally waive demand, presentment for payment, protest and notice of protest and non-payment of this Note, and expressly agree, jointly and severally, that in the event of default as specified herein, the whole of the indebtedness hereof shall become immediately due and payable, at the option of the legal Lender of this Note, and if this Note becomes in default to pay all costs of collection, including reasonable attorneys' 

 

fees legal assistants' fees for services and costs in the enforcement hereof either prior or subsequent to judgment, whether in judicial proceedings, including but not limited to appellate proceedings or otherwise. The obligation to pay such attorneys' fees and costs shall survive the entry of any judgment hereon and shall not merge with the same. Failure or delay on the part of the legal Lender hereof in exercising said option shall not operate as a waiver of the right to exercise said option any time during the continuance of any such default or in the event of any subsequent default. After maturity or default, this Note shall bear interest at the highest rate permitted under then applicable law provided, however, in no event shall such rate exceed the highest rate permissible under the applicable law. 

All makers, sureties, guarantors, and endorsers and any other persons, firms or corporations becoming liable under this Note hereby consent to any advances, extensions or renewals of this Note or any part thereof, without joinder of the undersigned, and waive all and every kind of notice of such advances, extensions, renewals or changes, and agree to remain and continue liable under said Note until the indebtedness hereof is fully paid, notwithstanding any extension or extensions of the time of, or for the payment of said indebtedness, nor any change or changes by way of release or surrender or substitution of any real property and collateral, or either, held as security for this Note. 

The undersigned does not intend or expect to pay nor does the Lender hereof intend or expect to charge, accept or collect any interest greater than the highest legal rate of interest, which may be allowed by law. Should the acceleration hereof or any changes made hereunder result in the computation or earning of interest in excess of such legal rate, any and all such excess shall be and the same is hereby waived by the Lender hereof, and any such excess shall be credited by the Lender to the balance hereof. 

Lender may, at any time, sell, transfer or assign this Note and the other related loan document and any or all servicing rights with respect to this Note, or grant participations in this Note. Lender may forward to any prospective purchaser all documents and information Lender now has or may acquire, as Lender determines necessary or desirable, including, without limitation, financial information regarding Maker. 

Maker agrees to pay any recording fees, filing fees, documentary stamp taxes or other charges arising out of or incident to the filing, the issuance and delivery of this Note or the delivery and recording of such further assurances and instruments as may be required by Lender. 

Maker hereby knowingly, voluntarily and intentionally waives the right it may have to a trial by jury in respect of any litigation based hereon, or arising out of under or in connection with this Note and any document contemplated to be executed in conjunction herewith, or any course of conduct, course of dealing, statements (whether verbal or written) or action of either party. 

 

Maker’s Signature:

_______________________________

PAYMEON, INC.

 

Makers Address: 

2688 NW 29TH TERRACE, BLDG 13

OAKLAND PARK, FL  33316

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