EXHIBIT 10.1
AGREEMENT FOR PAYMENT OF DEBT
AGREEMENT
This AGREEMENT (this "Agreement") is made as of November 1, 2005, by
and between Xxxxx Xxxx ("Curd"), and HeartSTAT Technology, Inc., a Delaware
corporation (the "Company"), who hereby agree as follows:
RECITALS
A. FutureVest, Inc. has assigned to Curd convertible debentures issued
by the Company pursuant to which $243,380.77 is owed by the Company as of the
date of this Agreement (the "Convertible Debentures").
B. Rather than requiring payment of the Convertible Debentures, Curd is
willing to accept restricted shares of the Company's common stock as full and
complete payment.
C. The Company and Curd have agreed that the Company shall issue Curd
40,000,000 restricted shares of the Company's common stock as full payment and
satisfaction of all obligations of the Company under the Convertible Debentures.
ACKNOWLEDGEMENTS AND AGREEMENT
Intending to be legally bound, and in consideration of the foregoing,
the mutual promises, releases and agreements contained herein, and other good
and valuable consideration, the Company and Curd hereby agree as follows:
1. In lieu of the Company paying according to the terms of the
Convertible Debentures, and in full and complete settlement of the Convertible
Debentures, the Company shall issue to Curd or his designee(s) 40,000,000
restricted shares of common stock of the Company (the "Shares").
2. Curd acknowledges that the Shares are in full consideration and
satisfaction of any and all obligations of the Company to Curd under the
Convertible Debentures.
3. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
IN WITNESS WHEREOF, each of the undersigned have executed this
Agreement as of the date first written above.
CURD COMPANY
HEARTSTAT TECHNOLOGY, INC.
/s/ XXXXX XXXX By: /s/ XXXXXXX X. XXXXXX
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Xxxxx Xxxx Xxxxxxx X. Xxxxxx, President and CEO
