EXHIBIT 10.14
AMENDMENT TO PROMISSORY NOTE
This Amendment is effective the 1st day of November 2006 by and between InComm
Holdings, Corp. ("InComm"), a Nevada corporation and Xxxxxx Xxxxxxxxxxx
("Xxxxxxxxxxx"), an individual residing in the state of Illinois.
RECITALS
InComm and Xxxxxxxxxxx are parties to a certain Promissory Note dated March 15,
2006 (Agreement);
InComm and Xxxxxxxxxxx desire to amend the Agreement as it relates to them;
NOW THEREFORE, in consideration of the premises, agreements, covenants
and obligations herein contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties, intending
to be legally bound, hereby amend the Agreement.
I. The introductory paragraph is amended to read as follows:
TRADEQUEST INTERNATIONAL, INC., a Nevada corporation ("Borrower"), for
value received hereby promises to pay to the order of Xxxxxx Xxxxxxxxxxx
("Holder"), in the manner set forth below, the principal sum of Fifty Thousand
Dollars ($50,000) together with a premium payment to be comprised of 150,000
restricted common shares of Tradequest International, Inc. ("Tradequest") with
piggyback registration rights, with the principal balance and premium being due
and payable on or before the Borrower's receipt of its third tranche of
financing, (the "Maturity Date"). Prior to the Maturity Date, Borrower shall pay
Holder Ten Thousand Dollars ($10,000) upon receipt of Holder's second tranche of
financing, which is due Borrower subsequent to Borrower's filing of its
Registration Statement. The balance then due shall be payable on or before the
Maturity Date.
II. Paragraph 6 is amended to read as follows:
Costs of Collection. The Borrower shall reimburse the Holder, on
demand, for any and all costs and expenses, including reasonable attorneys' fees
and court costs, incurred by the Holder in collecting or otherwise enforcing
this Note.
III. The parties agree that all the provisions of the Agreement will
remain valid and enforceable and shall not be affected by this Amendment with
the exception of the change made in the introductory paragraph to the premium
payment.
The undersigned parties certify to having read this Amendment to the
Agreement and that it correctly states the new terms and conditions set forth
above as amendment to the Agreement and hereby approve said Amendment to the
Agreement.
INCOMM (Borrower) XXXXXXXXXXX (Holder)
/s/ Xxxx Xxxxxxx /s/ Xxxxxx Xxxxxxxxxxx
Xxxx Xxxxxxx, Chairman & CEO Xxxxxx Xxxxxxxxxxx
Date: 11/1/06 Date: 11/1/06
