PepperBall Technologies, Inc. Unsecured Convertible Promissory Note Extension Agreement with Warrant (Investor)
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Summary
PepperBall Technologies, Inc. and an investor have agreed to extend the maturity date of an existing unsecured convertible promissory note from December 31, 2010 to December 31, 2012. In exchange, the investor receives a warrant to purchase company common stock at $0.05 per share, expiring January 15, 2014. The agreement also lowers the conversion price for a portion of the note as additional consideration for a new promissory note entered into in December 2010. The agreement is effective as of December 30, 2010.
EX-10.2 3 ex10x2.htm EXHIBIT 10.2 ex10x2.htm
Exhibit 10.2
PepperBall Technologies, Inc.
Extension Agreement
Unsecured Convertible Promissory Note
With
Warrant Attached
This Unsecured Convertible Promissory Note Extension Agreement (“Note Extension Agreement”) is entered into by and between PepperBall Technologies, Inc. a Colorado corporation (the Company), and ______________________(Investor).
The attached Note dated as of April 22, 2009 currently held by Investor is due December 31, 2010. In consideration for the extension of the maturity date of attached Note until December 31, 2012, the Company hereby issues to Investor a Warrant to purchase common stock of the Company in the amount of up to $________ at the exercise price of $0.05 per share.
The Warrant expires on January 15, 2014. A copy of the Warrant is attached.
Investor has also entered into an additional promissory note dated December 2010 (“new note”). As additional consideration for the new note, the Company will decrease $______________ of the extended note conversion price to $.05 per share.
A copy of this Note Extension Agreement will be attached to and modify the Note issued to Investor and attached hereto.
The effective date of this Note Extension Agreement and the Warrant is December 30, 2010.
| PepperBall Technologies, Inc. | ___________________________ |
| Investor Name | |
| /s/ Christin Lewis | ___________________________ |
| Asst Secretary | (Signature) |
