Agreement to Convert Debt Between Sibling Group Holdings, Inc. and Creditor
Sibling Group Holdings, Inc. and a creditor agree to partially settle an outstanding debt. The company will issue a specified number of restricted shares of its stock to the creditor in exchange for reducing the amount owed by approximately half, as previously negotiated via email. This agreement formalizes the conversion of part of the debt into equity for services provided, with both parties acknowledging the terms.
Exhibit 10.45
[FORM OF AGREEMENT TO CONVERT DEBT]
[___________________]
Partial Settlement of Debt
Sibling Group Holdings, Inc. accepts the previously agreed upon offer negotiated in the email dated __________________ to settle a portion of the company’s obligation for the amount $_____________ with _____________. An issuance of ___________ shares of restricted “SIBE” stock hereby reduces _____ current bill by approximately one half for the services this firm has provided the company.
__________________________
__________________________
President
Sibling Group Holdings, Inc.
__________________________
__________________________
__________________________
Sibling Group Holdings, Inc.
1355 Peachtree Street, NW
Suite 1150
Atlanta, Georgia 30309
***@***
770 ###-###-#### cell
770 ###-###-#### office
404 ###-###-#### fax
