Extension Agreement for Cash Payment under Stock Exchange Agreement between SolarMax Technology, Inc. and David Hsu

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Summary

This agreement is between SolarMax Technology, Inc. and David Hsu. It extends the deadline for a $675,000 cash payment owed to David Hsu under a previous stock exchange agreement. The new payment due date is March 31, 2020, instead of the original December 15, 2019. All other terms of the original agreement remain unchanged.

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EX-10.83 12 solarmax_ex1083.htm EX-10.83 solarmax_ex1083.htm

EXHIBIT 10.83

 

December 18, 2019

 

SolarMax Technology, Inc.

3080 12th Street

Riverside, California 92507

 

Ladies and Gentlemen:

 

Reference is made to the agreement dated March 27, 2019, pursuant to which I exchanged 2,268,000 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 2,402,946 shares of Common Stock and (ii) a cash payment of $675,000, 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: David Hsu