VERBAL AGREEMENT WITH OFFICERS, DIRECTORS AND PRINCIPAL SHAREHOLDERS
EXHIBIT 10.1
VERBAL AGREEMENT WITH OFFICERS, DIRECTORS AND PRINCIPAL SHAREHOLDERS
The document is to disclose the material terms of the verbal agreement between the Company and its officers, directors and principal shareholders who have verbally agreed to provide capital up to $100,000.
Borrower: 1PM Industries, Inc.
Lenders: Xxxxxx Xxxx, Xxxx Xxxxxxxxxx, Xxxx Xxxxxxxxxx Partners, LLC
Loan Amount: up to $100,000
Interest Rate: 0%
Repayment Terms: 24 months from date the funds are borrowed
Amounts Borrowed: $12,000 from Xxxxxx Xxxx