Exhibit 10.12
BRIDGE LOAN AND OPTION AGREEMENT
This Bridge Loan Agreement is made as of March 13, 2012, between Xx. Xxxxxx
Xxxxxxx, a resident of the UK ("the lendor"), and Global Equity International,
Inc., a Nevada Corporation (the "Company" or "GEI").
Terms and Conditions:
Xx. Xxxxxx Xxxxxxx agrees to lend the Company $50,000 USD (Fifty thousand
US Dollars) as a bridge loan under the following terms and conditions:
1) Xx. Xxxxxxx has agreed to lend the Company an initial $30,000 to be
received no later than Monday March 19, 2012 and a further $20,000 to be
received no later than Monday April 16, 2012.
2) The Company agrees to repay the bridge loan within 90 days of the
receipt of each tranche of funds.
3) The Company agrees to issue Xx. Xxxxxxx 100,000 common shares of Global
Equity International Inc. on receipt of the funds. The issuance of this stock
represents the interest payment due to the lendor.
4) If GEI defaults on the repayment, management agrees to pay Xx. Xxxxxxx
2% per month until the $50,000 is repaid in full.
5) In the event of any disputes, GEI agrees to pay for all legal costs.
/s/ X. Xxxxxxx /s/ Xxxx Xxxxxx
---------------------------- ----------------------------
Xx. Xxxxxx Xxxxxxx Xx. Xxxx Xxxxxx
CFO - GE International Inc.
Date: March 14, 2012 Date: March 13, 2012
