Extension Agreement for Cash Payment under Stock Exchange Agreement between SolarMax Technology, Inc. and Shareholder
This agreement is between SolarMax Technology, Inc. and a shareholder who previously exchanged shares of common stock for an option to purchase additional shares and a cash payment. The company was originally required to make the cash payment by December 15, 2019. By this letter, the shareholder agrees to extend the deadline for the cash payment to March 31, 2020. No other terms of the original agreement are changed.
EXHIBIT 10.75
December 17, 2019
SolarMax Technology, Inc.
3080 12th Street
Riverside, California 92507
Ladies and Gentlemen:
Reference is made to the agreement dated March , 2019, pursuant to which I exchanged __________ the shares of common stock, par value $0.001 per share (“Common Stock”), of SolarMax Technology, Inc., a Nevada corporation (the “Company”) represented by a Stock Grant for (i) an option to purchase __________ shares of Common Stock and (ii) a cash payment of $__________ , which was to have been paid by December 15, 2019. This letter will confirm my prior advice to you that I agree that the date by which the cash payment is to be made to me has been extended to March 31, 2020.
Very truly yours,
____________________________________
Name:
