Acknowledgement of Debt Cancellation Agreement between ABV Consulting, Inc. and Andrew Gavrin dated August 22, 2016
ABV Consulting, Inc. and Andrew Gavrin agree that Gavrin's $35,000 loan to the company, including all accrued interest, is fully cancelled and treated as a capital contribution by Gavrin. The agreement confirms that this is the only amount owed to Gavrin or any related party by the company. Gavrin also agrees to protect the company if any of his statements in this agreement are found to be untrue. This agreement is effective as of August 22, 2016.
Exhibit 10.1
ACKNOWLEDGEMENT OF DEBT CANCELLATION
Andrew Gavrin (“Gavrin”) and ABV Consulting, Inc., a Nevada corporation (the “Company”) hereby acknowledge and agree that Gavrin has loaned to the Company in the sum of $35,000.00 as the date hereof (the “Loan”). Gavrin and the Company hereby further acknowledge and agree that the Loan, plus accrued interest and the debt represented by such loan is hereby cancelled in all respects and such cancellation shall be deemed a contribution to the Capital of the Company by Gavrin.
The Loan represents the total amount due to Gavrin by the Company and there are no other loans or amounts due to Gavrin or any other related party by the Company.
Gavrin agrees to indemnify and defend the Company in the event of any breach of his representations set forth in this agreement.
Confirmed and agreed to as of August 22, 2016.
| /s/ Andrew Gavrin | |
| ANDREW GAVRIN |
ABV CONSULTING, INC.
| By: | /s/ Andrew Gavrin | |
| Andrew Gavrin, Chief Executive Officer |
