Promissory Note between Exercise for Life Systems, Inc. and Greentree Financial Group, Inc. dated February 2, 2010
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Summary
Exercise for Life Systems, Inc. promises to pay Greentree Financial Group, Inc. $21,000 plus 10% interest by August 2, 2011, to settle existing debt for services related to a reverse merger and SEC compliance. The note allows Greentree to convert the debt into common stock at par value at any time. The agreement is signed by Exercise for Life Systems, Inc.'s president.
EX-10.2 3 ex10_2.htm ex10_2.htm
PROMISSORY NOTE
$21,000 Dated February 2, 2010
FOR VALUE RECEIVED, the undersigned promises to pay to the order of Greentree Financial Group, Inc. (the “Holder”), the sum of TWENTY ONE THOUSAND AND NO/00 ($21,000) DOLLARS to pay off existing debt for services rendered in assistance with a reverse merger transaction and previously performed SEC compliance 10-K, 10-Q and Edgarization services for Exercise for Life Systems, Inc., with an interest rate of 10%, payable six months from the date of execution hereof.
THE TOTAL OF TWENTY ONE THOUSAND AND NO/00 ($21,000) DOLLARS, PLUS ACCRUED INTEREST, WILL BE PAID, AUGUST 2, 2011. This note may be converted into common stock at par value at any time at the discretion of the Holder.
IN WITNESS WHEREOF, the Maker has caused this note to be executed by its duly authorized officer on this 2nd day of February, 2010.
MAKER
Exercise of Life Systems, Inc.
By:/s/ Adam Slazer
Adam Slazer
President
