Note:
This contract has certain Exhibits which have been excluded here as the
information contained therein relates to intellectual property or business
practices which are considered property or may reduce the Company's competitive
advantage if published publicly.
Exhibit 10.1(j)
PERSONAL GUARANTY
-----------------
IN CONSIDERATION of the possible consequences of the outstanding tax
liabilities of Sharp Technology, Inc. ("Sharp Technology") and for other good
and valuable consideration, I Xxxxxx Xxxxx, hereby unconditionally personally
guarantee to Sharp Technology, the payment of the amounts necessary to pay and
retire all outstanding payroll taxes together with any related interest and
penalties generated through and including March 15, 2001. Any amounts paid by
Xxxxxx Xxxxx on this obligation will be repaid to Xxxxxx Xxxxx by Xxxxx
Technology under the terms of a promissory note, payable upon demand, bearing
interest at the rate of 10% per annum.
The undersigned waives notice of acceptance of this guaranty and of any
liability to which it applies or may apply, and waives grace, protest, notice,
presentment for payment and filing suit thereon for purpose of fixing liability,
and consents that the time for payment may be extended and re-extended without
notice, presentment, demand of payment, notice of dishonor or non-payment,
collecting, suit, or taking any other action by Sharp Technology, and giving any
notice of default or other notice to, or making any demand on, any party.
Payment by the undersigned is to be made at the main office of Sharp Technology,
in Houston, Texas.
Sharp Technology may, at any time without the consent of, or notice to the
undersigned, without incurring responsibility to the undersigned, without
impairing or releasing the obligations of the undersigned, upon or without any
terms or conditions and in whole or in part, (1) change the manner, place or
terms of payment or change or extend the time of payment of, renew, or alter any
liability of Sharp Technology hereby guaranteed, or any liabilities incurred
directly or indirectly hereunder, and the guaranty herein made shall apply to
the liabilities of Sharp Technology, changed, extended, renewed or altered in
any manner, (2) sell, exchange, release, surrender, realize upon or otherwise
deal with in any manner and in any order any property at any time pledged or
mortgaged to secure or securing the liabilities hereby guaranteed or any
liabilities incurred directly or indirectly hereunder or any off-set against any
of said liabilities, (3) settle or compromise any liabilities hereby guaranteed
or hereby incurred.
WITNESS my hand at Houston, Texas, this, the__day of ___________________, 2001.
SIGNED: _______________________________ , ___________________
WITNESSES:
_______________________________
_______________________________
_______________________________
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