Amendment No. 1 to Convertible Promissory Note between Freeze Tag, Inc. and Accredited Investor
Freeze Tag, Inc. and an Accredited Investor have agreed to amend their existing Convertible Promissory Note, originally dated April 7, 2016. This amendment increases the principal amount of the loan from $500,000 to $600,000. All other terms and conditions of the original note remain unchanged. Both parties have signed to confirm their acceptance of this amendment.
EXHIBIT 10.42
Amendment #1
The Convertible Promissory Note between Freeze Tag, Inc. (the “Borrower”) and Accredited Investor (the “Lender”), executed and effective on April 7, 2016 (the “Note”) had a Principal Sum of $500,000.
As of the date of this Amendment, the total consideration paid on the Note is $554,000.00.
The Lender and Borrower hereby agree to amend the Note to increase the Principal Sum in the amount of $100,000, to a total Principal Sum of $600,000.
All other terms and conditions of the Note remain unchanged.
Agreed and Accepted:
Freeze Tag, Inc.
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| Craig Holland Date | Date |
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| Chief Executive Officer |
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| Accredited Investor |
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| Accredited Investor Signor | Date |
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