Modification Agreement to Note Purchase Agreement between OxySure Systems, Inc. and The Tony & Judy Alcedo Family Trust
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Summary
OxySure Systems, Inc. and The Tony & Judy Alcedo Family Trust have agreed to modify the terms of their existing Note Purchase Agreement, originally dated December 10, 2009, for a principal amount of $100,000. The main change is to the maturity date, which is now set to be 360 days after the original issue date. All other terms of the original agreement remain unchanged. This modification is effective as of September 1, 2010, and is signed by both parties.
EX-10.28.1 8 oxysure_ex10281.htm MODIFICATION OF AGREEMENT DATED SEPTEMBER 1, 2010 oxysure_ex10281.htm
EXHIBIT 10.28.1
MODIFICATION OF AGREEMENT
WHEREAS, OxySure Systems, Inc. (“OxySure”) and the TONY & JUDY ALCEDO FAMILY TRUST (“Alcedo”) (OxySure and Alcedo jointly, the “Parties”) entered into that certain Note Purchase Agreement (“Note”) dated 12/10/09 in the principal amount of $100,000; 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 Exhibit A to the Note Purchase Agreement shall be amended as follows:
Maturity Date. The then outstanding Principal Amount, together with accrued and unpaid interest thereon as set forth above, or the Optional Conversion Shares (as provided for herein) as the case may be, shall become due on the 360th Day subsequent to the Issue Date (the "Maturity Date"). "Issue Date" means the date of first issuance of this Note as first set forth above.
All other provisions of the Note shall remain unchanged.
Agreed to and accepted:
By: /s/ Tony Alcedo | By: /s/ Julian Ross | |||
Mr. Anthony M. Alcedo, Trustee | Mr. Julian Ross, CEO | |||
The Tony & Judy Alcedo | OxySure Systems, Inc. | |||
Family Trust | ||||
Date: September 1, 2010 | Date: 9/01/2010 |