MODIFICATION TO PROMISSORY NOTE
Exhibit 10.3
MODIFICATION TO PROMISSORY NOTE
WHEREAS, on July 3, 1995, Xxx Pharmaceuticals (“maker”) and Sass XxXxxxx (“Holder”) entered into an agreement (“Note”) whereby Xxx Pharmaceuticals was to pay to Sass XxXxxxx the sum of Fifty Thousand Dollars; and
WHEREAS, on July 6, 1996, the parties thereto modified said Note to extend the maturity date from July 6, 1996, until December 8, 1997, ( a copy of said Modification to Promissory Note is attached for reference as Exhibit A); and
WHEREAS, on December 8, 1997, the parties thereto modified said Note to extend the maturity date from December 8, 1997, until December 1, 1998, (a copy of said Modification to Promissory Note is attached for reference as Exhibit B); and
WHEREAS, on December 1, 1998, the parties thereto modified said Note to extend the maturity date from December 1, 1998, until June 30, 1999, (a copy of said Modification to Promissory Note is attached for reference as Exhibit C); and
WHEREAS, on June 30, 1999, the parties thereto modified said Note to extend the maturity date from June 30, 1999, until June 30, 2000, (a copy of said Modification to Promissory Note is attached for reference as Exhibit D); and
WHEREAS, on June 30, 2000, the parties thereto modified said Note to extend the maturity date from June 30, 2000, until December 1, 2001, (a copy of said Modification to Promissory Note is attached for reference as Exhibit E); and
WHEREAS, on December 1, 2001, the parties hereto modified said Note to extend the maturity date from December 1, 2001, until December 1, 2002, (a copy of said Modification to Promissory Note is attached for reference as Exhibit F); and
WHEREAS, the parties thereto now desire to further modify said Note and Modification;
NOW, THEREFORE, the parties modify said Note and Modification as follows:
1. The maturity date of the Note is extended from December 1, 2002, until December 1, 2003.
2. All other terms and conditions of the Note remain the same.
Date this 27th day of November, 2002
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/s/ XXXXXX X. XXX |
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Xxx Pharmaceuticals |
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By: Xxxxxx X. Xxx, President |
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/s/ SASS XX XXXXX |
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Xxxx XxXxxxx |
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