SEC Contract Filing

Filing Date: 2018-09-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>paym_ex10z2.htm
<DESCRIPTION>SECOND AMENDMENT TO CONVERTIBLE PROMISSORY NOTE
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<TITLE>Second Amendment to Convertible Promissory Note</TITLE>
<META NAME="author" CONTENT="Kevin Lacey">
<META NAME="date" CONTENT="09/25/2018">
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt">&nbsp;</P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=right><B>EXHIBIT 10.2</B></P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=center><U>SECOND AMENDMENT TO</U></P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=center><U>PAYMEON, INC.</U></P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=center><U>(a Nevada corporation)</U></P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=center><U>CONVERTIBLE PROMISSORY NOTE</U></P>
<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=center><U>Dated October 22, 2015</U></P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>This Second Amendment to the above-referenced promissory note (hereinafter referred to as the &#147;Note&#148;), between PayMeOn, Inc., as Borrower, and Mark Lechter and Scott Balson, as Holder or Lender shall be effective upon execution. &nbsp;Borrower and Holder/Lender shall collectively be referred to as the &#147;Parties&#148;. &nbsp;This Amendment shall control in the event of conflict between the terms herein and the terms in the Note. &nbsp;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. </P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>WHEREAS, the parties desire to extend the Maturity Date of the Note, as defined therein; and</P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>WHEREAS, the Borrower desires to begin making periodic payments of interest and principal; and</P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>WHEREAS, the Parties desire to increase the number stock shares to which Holder shall be entitled; and </P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>WHEREAS, the Parties desire to confirm the interest rate applicable to the Note.</P>
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<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>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:</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:24px; font-family:Calibri,Times New Roman; font-size:12pt; float:left">1.</P>
<P style="margin:0px; padding-left:24px; text-indent:-2px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That the above recitations are true and correct, and are incorporated herein as if set forth in detail.</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:24px; font-family:Calibri,Times New Roman; font-size:12pt; float:left">2.</P>
<P style="margin:0px; padding-left:24px; text-indent:-2px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:24px; font-family:Calibri,Times New Roman; font-size:12pt; float:left">3.</P>
<P style="margin:0px; padding-left:24px; text-indent:-2px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That all references to the Maturity Date in the Note or the prior Addendum shall mean April 22, 2021.</P>
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<P style="margin-top:0px; margin-bottom:-2px; width:24px; font-family:Calibri,Times New Roman; font-size:12pt; float:left">4.</P>
<P style="margin:0px; padding-left:24px; text-indent:-2px; font-family:Calibri,Times New Roman; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The interest on the Note shall be 10% for the remaining life of the subject loan. &nbsp;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. &nbsp;In that event, the interest rate for the Note and this Amendment shall be changed to equal interest being paid under the other obligations.</P>
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