SEC Contract Filing

Filing Date: 2015-06-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>konaredexh10_1.htm
<DESCRIPTION>KONARED 8K, TERM SHEET WITH PROMISSORY NOTE
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<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">Exhibit 10.1</font></div>

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<div align="center"><font style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">KONARED CORPORATION</font></div>

<div align="center"><font style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">FUNDS ADVANCE - TERM SHEET</font></div>

<div align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">This preliminary term is subject to completion of definitive documents and execution by both KonaRed and funder (&#8220;Funder&#8221;). Such definitive documents will detail the rights and obligations of the parties and contain customary representations, warranties and indemnifications. Material terms of the Funds Advance are as follows:</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Issuer</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Definitive Documents</font></div>
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<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Note and Pledge Agreement</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Funds Advanced/Principal Amount</font></div>
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<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">US$500,000 to be wired to escrow account at Sichenzia Ross Friedman Ference, LLP, who are the Company's corporate counsel.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Offer Period</font></div>
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<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">This Private Placement Offer will terminate on June 8, 2015 and may be extended by the Company for an additional 30 days.</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Funding Schedule</font></div>
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<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Upon execution of Definitive Documents ("Closing Date")</font></div>
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