Addendum #1 to the Settlement Agreement Between ActiveCare, Inc. and Advance Technology Investors Dated May 20, 2015
Exhibit 10.10
Addendum #1 to the Settlement Agreement
Between ActiveCare, Inc. and Advance Technology Investors
Dated May 20, 2015
On this day of February 16, 2016, this Addendum#1 associated with the Promissory Note dated May 20, 2015 by and between ActiveCare, Inc. (Borrower) and Advance Technology Investors (Lender) is agreed to be altered in the following to points:
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1)
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Lender agrees to subordinate said debt to PFG;
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2)
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Lender will be able to convert such loan at $0.06 per common share. Borrower will provide 10 business days' notice to Lender of intent to pay loan. During such time, Lender shall have the right to convert said loan at the conversion price of $0.06. Notification shall be sent to xxxxxx.xxxxxxx@xxx.xxx and Lender will respond affirmatively receiving notice. Should no notice be received with 2 business days, Borrower shall send via certified mail such notice to 000 Xxxx Xxxx Xxxx, Xxxxxx Xxxxxx, XX 00000.
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Further, all covenants, collateral, provision, definitions, and in summary, all items contained within the agreements are unchanged and are in full force and effect with the exception of Paragraphs 1, and 2 provided above in Addendum #1.
Borrower: ACTIVECARE, INC.
A Delaware Corporation
By _______________________________
Xxxxx Xxxxxx, CEO
The Lender: Advance Technology Investors
By _______________________________
ITS _______________________________
