Promissory Note between Skinvisible, Inc. and Robert Lutz dated January 27, 2016
Skinvisible, Inc. agrees to repay Robert Lutz $24,000 plus 10% annual interest by February 15, 2016. As part of the loan agreement, Skinvisible, Inc. will also provide Lutz with 200,000 company shares valued at $0.02 each. The loan can be repaid early without penalty. The agreement is governed by Nevada law.
PROMISSORY NOTE
$24,000.00 Date: January 27, 2016
FOR VALUE RECEIVED, the undersigned, Skinvisible, Inc., of 6320 South Sandhill Road, Suite 10, Las Vegas, NV 89120 promises to pay to the order of Robert Lutz (“Lender”), whose address is 8322 W. Tonto Lane, Peoria, AZ. 85382, or such other place as the Lender may designate in writing to the undersigned, the principal sum of Twenty Four Thousand Dollars ($24,000.00), together with interest thereon from date hereof until paid, at the rate of ten percent (10%) per annum as follows: The entire principal amount shall be repaid on or before February 15, 2016. As payment for the loan the company agrees to gift 200,000 shares of Skinvisible, Inc at a deemed value of $0.02 per share.
All or any part of the aforesaid principal sum may be prepaid at any time and from time to time without penalty.
This note is made and executed under, and is in all respects governed by, the laws of the State of Nevada.
/s/ Terry Howlett
Terry Howlett
President & CEO
Skinvisible, Inc.
