SEC Contract Filing

Filing Date: 2023-05-04

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<TYPE>EX-10.4
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<FILENAME>d292138dex104.htm
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>PROMISSORY NOTE </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"><B>$900,000.00</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><B>April&nbsp;1, 2023</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">FOR VALUE RECEIVED, <B>WAGZ, INC.</B>, a Delaware corporation (the &#147;<B>Borrower</B>&#148;), with offices
at 100 Market Street, Suite 201, Portsmouth, NH 03801, promises to pay to the order of <B>SIGMATRON INTERNATIONAL, INC.</B> (the &#147;<B>Lender</B>&#148;), with offices at 2201 Landmeier Road, Elk Grove Village, IL 60007, on or before the Maturity
Date, the principal sum of NINE HUNDRED THOUSAND AND 00/100 DOLLARS ($900,000.00), together with interest as set forth herein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Intending
to be legally bound, the Borrower covenants and agrees as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Defined Terms</U>. In addition to other words and terms defined
elsewhere in this Note, the following capitalized words and terms shall have the following meanings: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Authority</B>&#148; means any federal, state, local or foreign government or political subdivision thereof, or any
agency, regulatory authority, bureau, central lender, commission, department or instrumentality of any of the foregoing, or any court, tribunal, grand jury or arbitrator. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Bankruptcy Code</B>&#148; means the Bankruptcy Code, 11 U.S.C. 101, et seq., as amended from time to time. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Business Day</B>&#148; shall mean any day other than a Saturday, Sunday, public holiday or other day a banking
institution is authorized or obligated to close in Chicago, Illinois. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Effective Date</B>&#148; means
April&nbsp;1, 2023. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Dollars</B>&#148; or the symbol &#147;<B>$</B>&#148; means lawful money of the United States
of America. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Indebtedness</B>&#148; means (i)&nbsp;all obligations and indebtedness for borrowed money,
(ii)&nbsp;all obligations evidenced by bonds, debentures, notes or similar instruments, (iii)&nbsp;all obligations under conditional sale or other title retention agreements, (iv)&nbsp;all obligations issued or assumed as the deferred purchase price
of property or services, (v)&nbsp;all capital lease obligations, (vi)&nbsp;the face amount of all letters of credit, (vii)&nbsp;all obligations of others secured by any Lien on property or assets of a Person, whether or not the obligations secured
thereby have been assumed, and (viii)&nbsp;all guarantees and other obligations to guaranty, assume or remain liable for the payment of another Person&#146;s obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Lien</B>&#148; means any lien (statutory or otherwise), mortgage, pledge, hypothecation, security interest, tax lien,
encumbrance, conditional sale or title retention arrangement, or any other interest in property designed to secure the repayment of Indebtedness, whether arising by agreement or under any law or otherwise. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Maturity Date</B>&#148; means the earliest of (a)&nbsp;March&nbsp;31, 2026, (b) upon the closing of a sale of all or
substantially all of the assets or common stock or initial public offering of the Borrower or of a merger, consolidation or other reorganization in which the Borrower is not the surviving entity, or (c)&nbsp;upon an Event of Default. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<B>Note</B>&#148; means this Promissory Note, as modified,
supplemented, amended or restated from time to time. </P> <P S