Promissory Note dated June 1, 2009 payable to GlynnTech, Inc. for the sum of $25,000

Contract Categories: Business Finance - Note Agreements
EX-10.11 2 ex10_11.htm EXHIBIT 10.11 ex10_11.htm

Exhibit 10.11

PROMISSORY NOTE
(June 1, 2009)

WHEREAS, GlynnTech, Inc. of 24 Mine Street, Flemington, New Jersey has agreed to assume SpeechSwitch, Inc. of 750 Highway 34, Matawan, New Jersey debt totaling in excess of $30,000.00 (owed to iVoice, Inc., iVoice Technology, Inc. GlynnTech, Inc., Fidelity Transfer Agency and) and others, now, therefore,

SpeechSwitch, Inc. agrees to pay GlynnTech, Inc. a sum of  $25,000.00 on or before June 1, 2010, at no interest. This Note shall be in default if not paid in full within 5 days from the due date. No interest shall accrue during the term hereof. However, GlynnTech, Inc. reserves the right to statutory interest after default, at its option.
 

 
SpeechSwitch, Inc
   
   
 
/s/ Bruce Knef
   
 
Bruce Knef, Board Chairman
   
   
 
/s/ Alex P. Glynn
   
 
Alex P. Glynn, Vice President, GlynnTech. Inc.