Promissory Note between Kenergy Scientific, Inc. and Charles M. Basner dated July 22, 2011

Summary

Kenergy Scientific, Inc. (formerly SpeechSwitch, Inc.) has borrowed $100,000 from Charles M. Basner. The company agrees to repay the full amount plus 7% annual interest by March 22, 2012. If the company fails to pay by that date, the lender can take legal action to recover the debt, and interest will continue to accrue at 7% per year, along with attorney’s fees. The agreement is signed by the company’s CEO, Kenneth P. Glynn.

EX-10.4 5 exh10_4.htm EXHIBIT 10.4 exh10_4.htm

Exhibit 10.4

PROMISSORY NOTE

July 22, 2011

$ 100,000.00

Whereas Charles M. Basner, (“Lender”), having an address of 10 Orchard Blossom Rd., Windham, NH 03087, has loaned $ 100,000.00 to Kenergy Scientific, Inc., formerly SpeechSwitch, Inc. (“Borrower”), a New Jersey corporation, having an address of 6 Minneakoning Rd., Flemington, NJ 08822 on this 22nd day of July, 2011, receipt of which is acknowledged;

Now, Therefore, the parties agree as follows:

Borrower shall pay Lender the full sum of $ 100,000.00, plus 7 % per annum interest on or before March 22, 2012. In the event that Borrower fails to make payment in full on that date, then this Note shall automatically become a default instrument and Lender may take whatever action he may elect to recover his loss, including legal action, with continuing accrual of 7 % per annum interest, and attorney’s fees.

July 22, 2011	Kenergy Scientific, Inc.
	(formerly SpeechSwitch, Inc.)

	______________________ Kenneth P. Glynn, CEO