Amendment to Convertible Promissory Notes between Galt Petroleum, Inc. and Evolution Capital, LLC

Contract Categories: Business Finance › Modification Agreements
Summary

Galt Petroleum, Inc. and Evolution Capital, LLC have agreed to amend several convertible promissory notes by extending their maturity dates to December 31, 2012. No other terms of the notes are changed. The amendment is effective once both parties have signed and delivered the agreement. This change gives both parties more time before the notes are due, without altering any other obligations or conditions of the original notes.

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EX-10.2 2 galt_ex102.htm AMENDMENT TO CONVERTIBLE PROMISSORY NOTES galt_ex102.htm
EXHIBIT 10.2
 
Amendment to Convertible Promissory Notes

Galt Petroleum, Inc., a Nevada corporation, and Evolution Capital, LLC, a Utah limited liability company, hereby amend each of the following Convertible Promissory Notes between the parties to change the Maturity Date in each note to December 31, 2012:
 
Date of Note   Amount  
Original
Maturity Date
  
           
September 15, 2011   $ 25,000   March 15, 2012  
October 19, 2011        $ 20,000   April 19, 2012  
November 15, 2011     $ 19,000    May 12, 2012  
December 2, 2011   $ 25,000   June 2, 2012  
May 8, 2012   $  26,980.26    November 8, 2012  
May 10, 2012   $ 25,000    November 10, 2012  
 
No other terms of such notes shall be modified or amended hereby.
 
This amendment may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective when two or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.
 
Accepted and agreed this 1st  day of November, 2012.
 
 
Evolution Capital, LLC      Galt Petroleum, Inc.  
         
/s/ Michael Doron     /s/ Cary Valerio  
Michael Doron, Manager       Cary Valerio, Chief Executive Officer