Letter Agreement Extending and Subordinating Promissory Note between Castellum, Inc. and Emil Kaunitz

Contract Categories: Business Finance › Note Agreements
Summary

This agreement between Castellum, Inc. and Emil Kaunitz extends the maturity date of a $400,000 promissory note to August 1, 2025. After that date, Castellum will repay the note in monthly installments of $50,000 over eight months. All other terms of the original note remain unchanged. Additionally, Emil Kaunitz agrees to sign a standard subordination agreement with Live Oak Bank, similar to a previous agreement. The letter is signed by both parties and confirms their mutual understanding.

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EX-10.9 10 exhibit109-emilkaunitzlett.htm EX-10.9 Document

                                            EXHIBIT 10.9



                                February 16, 2024

Mr. Emil Kaunitz
VIA EMAIL

    Re: Letter Agreement regarding extending your promissory note

Dear Emil:

This Letter Agreement sets forth our agreement regarding your existing $400,000 promissory note issued in August 2021 and owed by Castellum, Inc. (“Castellum”) and one or more of its affiliates to you (the “Note”). We have agreed as follows:

1. Maturity extension. You have agreed to extend the maturity date of the Note to August 1, 2025 at which point the Note will amortize at $50,000 per month for 8 months. The other terms of the Note are to remain unchanged.

2.Subordination. You have agreed to sign a standard subordination agreement with Live Oak Bank substantially similar to what you previously have executed with them.

Thank you, as always, for your strong support of Castellum.

                                    Sincerely,
                                    
                                    /s/ Mark Fuller

                                    Mark Fuller, CEO

Agreed to:
EMIL KAUNITZ

/s/Emil Kaunitz 2/16/24