EXTENSION AGREEMENT
Exhibit
10.56
This
EXTENSION AGREEMENT ("Agreement") made as
of the 3rd day of
December, 2009, is entered into by and between Xxxxxx Xxxxxxx, an individual
(“Lender”) and
Dot VN, Inc., a Delaware
corporation (“Borrower").
Recitals
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A.
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Borrower made, executed and
delivered to the order of Lender one certain Corporate Promissory Note
(“Note”) dated September 12, 2009, in
the principal sum of $18,000.00 with interest payable at the rate of 10%
per annum, which Note is due and payable on December 12, 2009 (the
“Due Date”).
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B.
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Borrower and Lender desire to
further modify the terms of the
Note.
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NOW,
THEREFORE, for and in consideration of the mutual covenants contained herein and
for other valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:
Agreement
1. The
Due Date of the Note is extended to February 28, 2010, at which time the entire
amount of principal plus interest at the rate of ten percent (10%) per annum
from September 12, 2009, shall be due and payable in full.
2. Except
as provided herein, the terms and provisions of the Note shall remain unchanged
and shall remain in full force and effect. The Note as modified and
amended hereby is ratified and confirmed in all respects.
3. This
Agreement may be executed in any number of counterparts. All such
counterparts shall be construed together and shall constitute one instrument,
but in making proof hereof it shall only be necessary to produce one such
counterpart.
4. The
terms and provisions hereof shall be binding upon and inure to the benefit of
the parties hereto, their heirs, representatives, successors and
assigns.
IN
WITNESS WHEREOF, this Agreement is executed as of the respective dates of
acknowledgment but is effective as of the date first above written.
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“BORROWER”
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“LENDER”
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XXXXXX
XXXXXXX
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/s/ Xxx
Xxxxxxx
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/s/ Xxxxxx
Xxxxxxx
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By:
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Xxx
Xxxxxxx
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By:
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Xxxxxx
Xxxxxxx
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Its:
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CEO
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