Accounts Payable Settlement Agreement between ASYM and Creditor
This agreement is between ASYM and a creditor who is owed a specific amount by the company. The creditor agrees to settle the outstanding payable for a combination of cash and restricted shares. The cash portion will be paid after ASYM receives $1,000,000 in funding, expected around July 15, 2012. The agreement is effective as of June 18, 2012.
Re: Accounts Payable Agreement
In order to move forward with ASYMs $10,000,000 financing, we have agreed to settle with you on the following:
I, _______________ acknowledge I have an accrued payable from the Company in the amount of $____________. I agree to settle the outstanding for $__________ cash and ________ shares. The cash will be paid out following the full funding of $1,000,000 from ASYM expected on or about July 15th and the shares will be restricted.
Agreed to this 18th of June 2012.
By: _______________________
