Fourth Modification Agreement to Promissory Note between OxySure Systems, Inc. and JTR Investments, Ltd.
OxySure Systems, Inc. and JTR Investments, Ltd. have agreed to modify the terms of a $250,000 promissory note originally dated March 1, 2008. The main change is that the outstanding principal will now be due 60 months after the issue date, which is defined as the later of the original issuance or the date of this modification. All other terms of the original note remain unchanged. Both parties have signed to confirm their agreement to these new terms.
FOURTH MODIFICATION OF AGREEMENT
WHEREAS, OxySure Systems, Inc. (“OxySure”) and JTR Investments, Ltd. (“JTR”) (OxySure and JTR jointly, the “Parties”) entered into that certain Promissory Note (“Note”) dated 3/1/08 in the principal amount of $250,000; and
WHEREAS, The Parties have agreed that it is in their best interests to modify the terms of the Note.
NOW, WHEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, THE SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, THE PARTIES AGREE AS FOLLOWS:
Section 1 of the Note shall be amended as follows:
Maturity Date. The then outstanding Principal Amount shall become due and payable on the 60 month anniversary of the Issue Date (the “Maturity Date”). “Issue Date” means the later of the date of first issuance of this Note as set forth above or the date of signature hereof.
All other provisions of the Note shall remain unchanged.
Agreed to and accepted:
| By: | /s/ Julian T. Ross | By: | /s/ Don Reed | |
| Mr. Julian Ross | Mr. Don Reed, Director, and | |||
| President, JTR Management, LLC. | on Behalf of the Board of Directors | |||
| General Partner, JTR Investments, Ltd. | OxySure Systems, Inc. | |||
| Date: | 11/14/2011 | Date: | 10/27/11 |
