April 28, 2021
Exhibit 10.13
April 28, 2021
Xx. Xxxxxxx Xxxxx | REVISED |
[**] | |
[**] |
Dear Xx. Xxxxx,
The undersigned parties to Promissory Notes dated February 26, 2020 and September 30, 2020 (jointly, the “Notes”), by and between Xxxxxxx Xxxxx (“Lender”), and Cingulate Therapeutics LLC (“Borrower”), for a total principle of $354,000.00 (previously, and partially repaid by the Borrower), hereby mutually agree to amend said Notes to change both Paid in Full dates to “February 24, 2022”. All other terms of the Contract shall remain in full force and effect.
Xxxxxxxx agrees to pay penalties, tax and interest that accrue as a result of this loan until Xxxxxx’s balance is paid in full. If Xxxxxx receives a notice from the IRS regarding this debt, Xxxxxx must contact us immediately. Lender will use “best efforts to avoid penalties and interest.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.
BORROWER | LENDER | |||
Cingulate Therapeutics, LLC | ||||
By: | /s/Xxxxx X. Xxxxxxxxx, Esq. | By: | /s/ Xxxx Xxxxx | |
Xxxxx X. Xxxxxxxxx | Xxxx Xxxxx | |||
General Counsel |