Allonge to Promissory Note between InterAmerican Acquisition Group Inc. and InterAmerican Advisors, LLC (May 27, 2006)

Summary

This document is an amendment to a $75,000 promissory note originally issued by InterAmerican Acquisition Group Inc. to InterAmerican Advisors, LLC. The amendment changes the repayment terms, stating that the principal must be repaid by May 27, 2007, or earlier if InterAmerican Acquisition Group Inc. completes an initial public offering. All other terms of the original note remain unchanged. Both parties have agreed to these revised terms as of May 27, 2006.

EX-10.11 16 file16.htm ALLONGE

  ALLONGE TO PROMISSORY NOTE THIS ALLONGE, is made as of May 27, 2006, and shall be attached to and made a part of that certain Promissory Note dated May 28, 2005 (the "Note") in the principal amount of $75,000 issued by InterAmerican Acquisition Group Inc. to InterAmerican Advisors, LLC. This Allonge is intended to amend and restate Section 1 of the Note as follows: 1. Principal. The principal balance of this Note shall be repayable on the earlier of (i) May 27, 2007 or (ii) the date on which the Maker consummates an initial public offering of its securities. All of the other terms and conditions of the Note shall continue in full force and effect. IN WITNESS WHEREOF, the undersigned has caused this Allonge to be signed by its proper corporate officer as of the day and year first written above. INTERAMERICAN ACQUISITION GROUP INC. By: /s/ William C. Morro ------------------------------------ Name: William C. Morro Title: Chief Executive Officer Acknowledged and agreed: INTERAMERICAN ADVISORS, LLC By: /s/ William C. Morro --------------------------------- Name: William C. Morro Title: Authorized Signatory