Note Conversion Agreement between Richmont Capital Partners V LP and CVSL Inc.
Richmont Capital Partners V LP and CVSL Inc. have agreed to convert a $20 million promissory note into 3,200,000 shares of CVSL's common stock. This agreement, effective November 26, 2014, finalizes the conversion terms and is acknowledged by both parties. The conversion is based on a prior amendment to the original note issued in December 2012.
Exhibit 4.1
RICHMONT CAPITAL PARTNERS V LP
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| November 26, 2014 |
CVSL Inc.
2400 North Dallas Parkway, Suite 230
Plano, Texas 75093
Attn: Kelly L. Kittrell
Re: Conversion of $20.0 Million Note
Dear Kelly:
Reference is made to that certain Second Amendment dated June 12, 2014 to the Convertible Subordinated Unsecured Promissory Note, issued dated December 12, 2012, in the principal amount of $20.0 Million held by the undersigned (herein, the “Note”).
The undersigned hereby agrees to convert the Note, effective as of the date hereof, into Three Million Two Hundred Thousand (3,200,000) shares of CVSL’s common stock.
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| RICMONT CAPITAL PARTNERS V LP | ||
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| By: Richmont Street LLC, its General Partner | ||
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| By: | /s/ John Rochon, Jr. | |
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| Name: | John Rochon, Jr. | |
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| Title: | President | |
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| ACKNOWLEDGED AND AGREED: | ||
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| CVSL INC. | ||
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| By: | /s/ John P. Rochon | |
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| Name: | John P. Rochon | |
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| Title: | Chief Executive Officer | |
