Promissory Note between ABSS, Corp. and Communications Holding Corp. dated September 2, 2003

Contract Categories: Business Finance › Note Agreements
Summary

ABSS, Corp. and Communications Holding Corp. have agreed to settle a $960,000 judgment. ABSS will pay CHC with 4,000,000 shares of restricted common stock and a $200,000 promissory note at 7% annual interest. The principal and interest are due in full by September 3, 2004. This agreement outlines the payment terms and obligations for both parties to resolve the outstanding judgment.

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EX-10.2 4 f8kex102_abss.txt PROMISSORY NOTE PROMISSORY NOTE ABSS, Corp. (ABSS) has entered into a settlement agreement with Communications Holding Corp. (CHC) having an effective date of September 2, 2003. CHC, the holder of a $960,000 judgement against ABSS has agreed to settle this judgement for the amount of 4,000,000 shares of restricted common stock and $200,000 note payable earning seven percent interest (7.0%) per annum, with principal and interest due on September 3, 2004. Agreed to by: /s/ Alan Lew - --------------------------------- ABSS, Corp. Director /s/ Andre Todd - --------------------------------- Communications Holding Corp. President