Exhibit 10.1
ADDENDUM TO PROMISSORY NOTE
THIS ADDENDUM TO PROMISSORY NOTE (this " Addendum") is dated
August 5, 2005, between MICROHELIX, INC., an Oregon corporation (the
"Borrower"), and XXXXX X. XXXXX (the "Lender").
A. Borrower made a Promissory Note dated April 8, 2005 (the "Note")
in favor of the Lender in the principal amount of $1,250,000.00; and
B. The parties desire to amend the Note pursuant to the terms of
this Addendum.
For good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows:
1. Continuing Effectiveness. Except as modified herein, all of the
terms, conditions, covenants, and restrictions set forth in the Note shall
remain in full force and effect among the parties.
2. Payment. The second sentence of Section 1 of the Note shall be
amended to read as follows: "The first six payments are due on May 8, 2005, June
8, 2005, July 8, 2005, August 8, 2005, September 8, 2005, and October 8, 2005,
and these payments shall be interest-only payments in the amount of $10,416.67
each." Except as modified in the preceding sentence, Section 1 of the Note shall
remain in full force and effect among the parties.
BORROWER:
MICROHELIX, INC., an Oregon corporation
By: /s/ Tyram X. Xxxxxx
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Tyram X. Xxxxxx
President and Chief Executive Officer
LENDER:
/s/ Xxxxx X. Xxxxx
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Xxxxx X. Xxxxx
