SEC Contract Filing

Filing Date: 2016-08-22

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>10
<FILENAME>ex10_1.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 2.5pt 0 0 82.9pt"><B>PROMISSORY NOTE &ndash; Q1 + Q2 2016 SALARY +
Vacation</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.05pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"><B>$11,467.30&#9;Date: June 30,<FONT STYLE="letter-spacing: -0.2pt">
</FONT>2016</B></P>

<P STYLE="font: 11.5pt Times New Roman, Times, Serif; margin: 0.25pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 5pt; text-align: justify">FOR VALUE RECEIVED, the undersigned, Skinvisible,
Inc., of 6320 South Sandhill Road, Suite 10, Las Vegas, NV 89120 promises to pay to the order of James Roszell (&ldquo;Lender&rdquo;),
whose address 7100 Pirates Cove, #1109, Las Vegas, NV 89145, or such other place as the Lender may designate in writing to the
undersigned, the principal sum of <B>Eleven Thousand Four Hundred and Sixty Seven Dollars and Thirty Cents ($11,467.30), </B>together
with interest thereon from date hereof until paid, at the rate of ten percent (10%) per annum as follows: The entire principal
and interest amount shall be repaid on or before <B>June 30, 2021</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 9.1pt 5pt 0; text-align: justify">All or any part of the aforesaid
principal sum may be prepaid at any time and from time to time without penalty. This note is in regards to gross salary, plus vacation
due from January 1, 2016 to June 30, 2016.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 9.25pt 5pt 0; text-align: justify">Upon written request by Lender,
the principal of this loan may be converted to common shares of Skinvisible, Inc. at the price of <B>Two Cents ($0.02) </B>per
share at any time up until <B>June 30, 2021</B>. <FONT STYLE="letter-spacing: -0.15pt">In </FONT>addition, the Company will issue
a warrant agreement in the name of your designate, which will give the holder the right to purchase further shares at <B>Two Cents
($0.02) </B>per share if exercised within <B>3 years </B>following the conversion date. The warrant agreement will give the holder
the right to purchase one share for every two shares acquired by the holder in this transaction for an aggregate total of <B>Two
Hundred and Eighty Six Thousand Six Hundred and Eighty Three (286,683) </B>additional shares at the above<FONT STYLE="letter-spacing: -0.7pt">
</FONT>price.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 9.5pt 0 5pt; text-align: justify">This note is made and executed
under, and is in all respects governed by, the laws of the State<FONT STYLE="letter-spacing: -0.75pt"> </FONT>of Nevada.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 9.5pt 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 168.65pt 0 228.95pt; text-align: center"><U>/s/ Terry
Howlett</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 168.65pt 0 228.95pt; text-align: center">Skinvisible, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 168.65pt 0 228.95pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 9.5pt 0 5pt; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 9.5pt 0 5pt; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 9.5pt 0 5pt; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 50%; font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
 <TD STYLE="width: 9%; text-align: left; vertical-align: bottom">2016</TD>
 <TD STYLE="width: 52%; border: black 1pt solid; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt">Gross Salary Owed Q1+Q2 2016</FONT></TD>
 <TD STYLE="width: 39%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right; vertical-align: bottom">
 <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0.45pt 0 0">&nbsp;</P>
 <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 5pt 0 0; text-align: right">$10,705.00</P></TD></TR>
<TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt">Vacation</FONT></TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">$762.30</FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>GRAND TOTAL</B></FONT></TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><B>$11,467.30</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt"># of Shares @ 2&cent;</FONT></TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">573,365 shares</FONT></TD></TR>
<TR STYLE="vertical-align: top">
 <TD>&nbsp;</TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt"># of Warrants @2&cent;</FONT></TD>
 <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 1