Amendment to Promissory Note between Raul Silva and Cingulate Therapeutics LLC (April 19, 2021)
This agreement amends a previous promissory note between Raul Silva (the lender) and Cingulate Therapeutics LLC (the borrower) for a $100,000 loan. The main change is extending the loan's due date to February 24, 2022. All other terms remain unchanged. The borrower agrees to pay any penalties and interest until the loan is fully repaid. If the lender receives an IRS notice about the debt, the lender must notify the borrower immediately. Both parties have signed to confirm these changes.
Exhibit 10.15
April 19, 2021
| Dr. Raul Silva | REVISED |
| [**] | |
| [**] |
Dear Dr. Silva,
The undersigned parties to Promissory Note dated July 25, 2020 (the “Note”), by and between Raul Silva (“Lender”), and Cingulate Therapeutics LLC (“Borrower”), for a total principle of $100,000.00, hereby mutually agree to amend said Note to change the Paid in Full date to “February 24, 2022”. All other terms of the Contract shall remain in full force and effect.
Borrower agrees to pay penalties and interest that accrue until Lender’s balance is paid in full. If Lender receives a notice from the IRS regarding this debt, Lender must contact us immediately. Lender will use “best efforts to avoid penalties and interest.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.
| BORROWER | LENDER | |||
| Cingulate Therapeutics, LLC | ||||
| By: | /s/Craig S. Gilgallon, Esq. | By: | /s/ Raul Silva | |
| Craig S. Gilgallon | Raul Silva | |||
| General Counsel | ||||
