SEC Contract Filing

Filing Date: 2025-01-28

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
10.1</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>ALLONGE
TO PROMISSORY NOTE</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.05pt 0pt 21.55pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ALLONGE
dated as of January 22, 2025 (this &ldquo;<U>Allonge</U>&rdquo;) to the Promissory Note dated as of September 20, 2024 in the original
principal amount of $2,000,000.00 made by <B>GIFTIFY, INC.,</B> a Delaware corporation, with an office at 1100 E. Woodland Road, Suite
510, Schaumburg, Illinois 60173 (&ldquo;<U>Maker</U>&rdquo;), payable to the order of <B>SPARS CAPITAL GROUP LLC</B>, a New Jersey limited
liability company, having an office at 164 Old Orchard Rd, Toms River, New Jersey 08755 (&ldquo;<U>Payee</U>&rdquo;)<B>.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
Maker executed a Promissory Note dated as of September 20, 2024 payable to the order of Payee in the original principal amount of $2,000,000.00
(as amended, restated and otherwise modified from time to time, the &ldquo;<U>Note</U>&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 1.95pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the Note matured on January 20, 2025 (the &ldquo;<U>Maturity Date</U>&rdquo;);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
Maker has paid Payee the principal amount of $1,000,000.00 and an interest payment of $77,506.85, and the principal amount of $1,000,000.00
plus interest from January 20, 2025 at the rate of 11.50% per annum remains due and owing under the Note;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
subject to the terms and conditions hereinafter set forth, Payee has agreed to extend the Maturity Date of the Note to February 19, 2025;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW
THEREFORE, IT IS HEREBY AGREED:</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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 <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
 <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Acknowledgement</U>.
 Maker reaffirms the validity and enforceability of the Note, and acknowledges (i) that the principal amount of $1,000,000.00 with
 interest from January 20, 2025 at the rate of 11.50% per annum is due and owing under the Note, and (ii) that Maker has no offsets,
 claims or defenses to the Note.</FONT></TD></TR>
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