Document:

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND IS A “RESTRICTED SECURITY” AS THAT TERM IS DEFINED IN RULE 144 UNDER THE ACT. THE NOTE MAY NOT BE OFFERED FOR SALE, SOLD OR TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT, THE AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO THE SATISFACTION OF THE COMPANY.

 

PROMISSORY NOTE

	
$256,250.00

	
November 23, 2010

 

For value received, the undersigned MUSCLEPHARM CORPORATION (the “Obligor”) promises to pay to the order of Bradley Pyatt (“Payee”), in lawful money of the United States at the address of Payee set forth below, the principal sum of Two Hundred Fifty Six Thousand Two Hundred and Fifty Dollars ($256,250.00) together with interest at the rate of eight percent (8%), such principal and interest to be payable on December 23,2010.

 

If a payment on this Note shall become due on a Saturday, Sunday or public holiday under the laws of the State of Colorado, such payment shall be made on the next succeeding business day.

 

Immediately upon the occurrence of an “Event of Default” (as defined below), Payee may, at his option, declare immediately due and payable the entire unpaid principal amount of this Note, plus any other amounts payable at the time of such declaration pursuant to this Note. An Event of Default shall be defined as each of the following: (i) failure of Obligor to make any payment of interest or principal within ten (10) days after the due date; (ii) Obligor shall admit in writing its inability to pay its debts as they become due, shall make a general assignment for the benefit of creditors or shall file any petition for action for relief under any bankruptcy, reorganization, insolvency or moratorium law, or any other law or laws for the relief of, or relating to, debtors; (iii) an involuntary petition shall be filed against Obligor under any bankruptcy, reorganization, insolvency or moratorium law, or any other law or laws of for the relief of, or relating to, debtors unless such petition shall be dismissed or vacated within thirty (30) days of the date thereof; or (iv) Obligor fails to comply with any term, obligation, covenant or condition of the Security Agreement of the same date between the parties to this Note, within 10 days after receipt of written notice from the Payee demanding such compliance.

 

Obligor hereby waives diligence, presentment, protest and demand and also notice of protest, demand, dishonor and nonpayment of this Note and expressly agrees that this Note, or any payment hereunder, may be extended from time to time, all without in any way affecting the liability of Obligor.

 

If Payee should institute collection efforts, of any nature whatsoever, to attempt to collect any and all amounts due hereunder upon the default of Obligor, Obligor shall be liable to pay to holder immediately and without demand all reasonable costs and expenses of collection incurred by Payee, including, without limitation, reasonable attorney fees, whether or not suit or other action or proceeding be instituted and specifically including but not limited to collection efforts that may be made through a bankruptcy court.

  

 

  

 

Any notice or other communication, except for payment hereunder, required or permitted hereunder shall be in writing and shall be deemed to have been given upon delivery if personally delivered or one day after deposit if deposited in the United States mail for mailing by certified mail, postage prepaid, and addressed as follows:

 

	 	
If to Obligor:

	
MUSCLE CORPORATION

4721 fronton Street

Denver, Colorado 80239

(800) 210-7369

	 	
If to Payee:

	
Bradley Pyatt

 

Any payment shall be deemed made upon receipt by Payee. Payee or Obligor may change their address for purposes of this paragraph by giving to the other party notice in conformance with this paragraph of such new address.

 

This Note may be executed simultaneously in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

This Note shall be construed in accordance with the laws of the State of Colorado.

 

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

 

	  	“OBLIGOR”
	  	  	  
	  	MUSCLEPHARM CORPORATION
	  	  	  
	  	
By:

	
/s/ Cory Gregory

	  	  	
Cory Gregory, President

 

ACKNOWLEDGED AND AGREED TO:

	  	“PAYEE”
	  	  	  
	  	
By:

	
/s/ Bradley Pyatt

	  	  	
Bradley Pyatt

 

  

2Unassociated Document

 

Exhibit 10.1

 

	 	 
September 26, 2011

 

VIA SCAN EMAIL

Matthew J. During, M.D., D.Sc.

Professor and Director

The Ohio State University

Human Cancer Genetics Program

BRT 912, 460 West 12th Street

Columbus, OH 43210

Dear Dr. During:

Reference is hereby made to the Consulting Agreement, dated as of October 1, 1999, by and between you and Neurologix, Inc. (the "Company"), as amended on October 8, 2003, April 30, 2004, June 27, 2006, October 1, 2007, October 3, 2008, August 31, 2009 and November 9, 2010 (the Consulting Agreement, as amended to date, is hereafter referred to as the "Consulting Agreement").  Capitalized terms used herein but not otherwise defined herein shall have the respective meanings assigned to such terms in the Consulting Agreement.

As you are aware the term of the Consulting Agreement is scheduled to terminate by its terms on September 30, 2011.  The Company desires to continue without interruption your relationship as a consultant to the Company on the terms and conditions set forth in the Consulting Agreement.  In connection therewith the Company is sending you this letter (this "Amendment") in order to properly amend the Consulting Agreement, effective as of September 30, 2011, as follows:

 

1.           Section 4 of the Consulting Agreement is amended and restated, effective as of September 30, 2011, to read as follows:

"4.           Term and Termination.  The term of this Agreement shall end on September 30, 2012, unless earlier terminated for cause (including breach of any agreement between the parties) by either party upon thirty (30) days' prior written notice to the other party; provided, that, the Consultant's obligations set forth in Sections 3(c), 5 and 7 of this Agreement shall survive any such termination and the Company's obligations set forth in Sections 3(a) and 3(b) of this Agreement with respect to services rendered by the Consultant during the term of this Agreement shall survive any such termination."

2.           (a)           Except as amended by the terms of this Amendment, all of your and the Company's respective rights and obligations under the Consulting Agreement and the related Confidentiality, Proprietary Information and Inventions Agreement, dated as of October 1, 1999, between yourself and the Company, shall be deemed preserved by this Amendment, without modification or reduction.

 

  

  

  

 

        (b)           You acknowledge and confirm that the representations and warranties made by you in Section 6 of the Consulting Agreement are true and correct as of the date of this Amendment.

3.           This Amendment shall be governed by, and construed pursuant to, the laws of the State of New York applicable to agreements made and to be performed wholly within such State.

4.           This Amendment may be executed in one or more counterparts, each of which shall be considered an original instrument, but all of which shall be considered one and the same agreement.  This Amendment may be executed by, and become effective upon, the delivery by facsimile or e-mail (in .pdf format) of copies of the signatures of the parties hereto.

Signature page follows

 

 

  

  

  

 

Please indicate your acceptance of the foregoing by signing below.

 Very truly yours,

 NEUROLOGIX, INC.

 By:     /s/ Marc L. Panoff               

Marc L. Panoff

Chief Financial Officer

 ACCEPTED AND AGREED:

         /s/ Dr. Matthew During               

 Dr. Matthew DuringUnassociated Document

	

Q Lotus Holdings, Inc.

 

 

A Private Equity

 

 

Holding Company

	

	

500 N Dearborn St, Suite 605

 

 

Chicago, IL  60654

 

 

(312) 379-1800

 

 

 September 22, 2011

Southshore Real Estate Development, LLC

Four Executive Boulevard – Suite 200

Suffern, NY  10901

Attention: Josh Goldstein

Re:  8th Amendment to Promissory Note

Dear Josh:

In accordance with our discussions, Q Lotus Holdings, Inc. and Southshore Real Estate Development, LLC hereby agree to further amend the Promissory Note dated February 23, 2011 (as amended, supplemented or otherwise modified from time to time) between Q Lotus Holdings, Inc. and Southshore Real Estate Development, LLC in the amount of two hundred thousand dollars ($200,000) such that, notwithstanding anything contained in the Promissory Note to the contrary:

	
1.  

	
The Maturity Date for the aggregate principal balance equal to Five Hundred Forty Four Thousand Dollars ($544,000) is hereby extended to October 7, 2011.

Please acknowledge your acceptance of the above change by executing this amendment below.

Q Lotus Holdings, Inc.                                           

By:          /S/ Gary A. Rosenberg                                                              

Gary Rosenberg

Its:          CEO

Understood and Agreed to this 22nd day of September, 2011.

Southshore Real Estate Development, LLC

By:          /S/ JOSH GOLDSTEIN                                                          

Josh Goldstein

Its:          General Partner

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}]]