Allonge No. 3 to Promissory Notes between Spheric Technologies, Inc. and Joseph Hines
This agreement, dated May 31, 2009, is an amendment to three promissory notes previously issued by Spheric Technologies, Inc. to Joseph Hines. It extends the due date for full repayment of the notes to September 30, 2009. All other terms of the original notes remain unchanged. This amendment replaces a prior amendment dated December 31, 2008, which is now void. The agreement is signed by both parties' authorized representatives.
Exhibit 10.46
ALLONGE NO. 3 TO
PROMISSORY NOTES
TO JOSEPH HINES
This Allonge No. 3 to Promissory Notes (the “Allonge No. 3”), dated as of May 31, 2009, is attached to and forms a part of the following Promissory Notes (collectively, the “Notes”), made by SPHERIC TECHNOLOGIES, INC., a Nevada corporation (the “Company”), payable to the order of JOSEPH HINES, an individual residing in the state of Arizona (the “Holder”):
| 1. | Promissory Note dated December 31, 2006, in the original principal amount of $447,000. |
| 2. | Promissory Note dated March 31, 2007, in the original principal amount of $63,600. |
| 3. | Promissory Note dated December 31, 2007, in the original principal amount of $55,000. |
The Notes are hereby amended to provide that they are due and payable in full on September 30, 2009.
In all other respects, the Notes are confirmed, ratified, and approved and, as amended by this Allonge No. 3, shall continue in full force and effect. This Allonge No. 3 replaces the Allonge No. 2 to Promissory Notes dated December 31, 2008, which shall have no further force or effect.
IN WITNESS WHEREOF, the Company and Holder have caused this Allonge No. 3 to Promissory Notes to be executed and delivered by their respective duly authorized officers as of the date and year first above written.
| SPHERIC TECHNOLOGIES, INC. | ||
| By: | /s/ Michael Kirksey | |
| Michael Kirksey | ||
| Its: | Executive Vice President and COO | |
| JOSEPH HINES | ||
| /s/ Joseph Hines | ||
