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 three existing convertible promissory notes by extending each note's maturity date by six months beyond the original maturity date. No other terms of the notes are changed. The amendment is effective once both parties have signed and delivered the agreement, and it may be executed in multiple counterparts.

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EX-10.3 3 galt_ex103.htm AMENDMENT TO CONVERTIBLE PROMISSORY NOTES galt_ex103.htm
EXHIBIT 10.3
 
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 the date six months after the Maturity Date referenced in each note:
 
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  
 
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  23rd  day of August, 2012.
 
 
Evolution Capital, LLC      Galt Petroleum, Inc.  
         
/s/ Michael Doron     /s/ Cary Valerio  
Michael Doron, Manager       Cary Valerio, Chief Executive Officer