Amendment to $3,000,000 Convertible Debenture Agreement between Sundance Strategies, Inc. and Satco International, Limited, dated July 13, 2020
Amendment to $3,000,000 Convertible Debenture Agreement Dated June 2, 2015
Sundance Strategies, Inc. ( the “Company”) and Satco International, Limited (“Satco”) entered into a Convertible Debenture Agreement (“the Agreement”) dated June 2, 2015.
|A.||The Company and Satco entered into the First Amendment to the Agreement effective on or about February 1, 2016 (“First Amendment”). Subsequent to this First Amendment there has been additional Amendments extending the due date of the note.|
|B.||The purpose of this Amendment is to formalize the Parties desire to add and or amend certain terms and conditions of the Agreement.|
NOW,THEREFORE, inconsideration of the mutual covenants contained herein and other good and valuable consideration the receipt and adequacy of which is hereby acknowledged, the Parties agree to amend the Agreement as follows:
Paragraph 7. Conversion first sentence: The Terms “one year from the date of issuance” shall be replaced with on November 30, 2021.
NOW, THEREFORE, inconsideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Parties agree to amend the Second Amendment as follows:
Second paragraph: The paragraph shall be replaced in its entirety with the following: I agree to extend the Debenture Agreement between Satco and the Company from the original due date of June 2, 2016 to November 30, 2021.
All other terms and conditions remain as outlined in the Agreement and the First Amendment.
IN WITNESS WHEREOF, the Parties hereto have executed this Amendment on the date as recorded below.
|Stephen H. Smoot||/s/ Stephen H. Smoot Attorney-in-Fact||7-13-20|
|Satco International, Limited||Date|
|Randall F. Pearson|
|Sundance Strategies, Inc.|