Description of Loan Agreements with Zeyan Zao, Glenn Morimoto, and Patrick Laferriere
Exhibit 10.3
Description of Loan Agreements with Xxxxx Xxx, Xxxxx Xxxxxxxx, and Xxxxxxx Xxxxxxxxxx
This description summarizes the agreements between the Intervia Inc. (the ``Company“, ``we”, “us”, “our”) and Xxxxx Xxx, Xxxxx Xxxxxxxx, and Xxxxxxx Xxxxxxxxxx regarding certain loans made by those persons to the Company while acting as officers and directors of the Company.
Xxxxx Xxx served as our President, CEO and director of the Company from our inception on February 2, 2005 to March 5, 2007. During his term of service Xx. Xxx advanced $5,285 in loans to the Company. The loans were non-interest bearing and without specific terms of repayment.
Upon Xx. Xxx’x resignation as an officer and director of the Company, Xx. Xxx assigned the debt payable to him in trust to his successor Xxxxx Xxxxxxxx, who served as our President, Chief Executive Officer and director from March 5, 2007 to August 26, 2010. During the term of Xx. Xxxxxxxx’x service, Xx. Xxxxxxxx advanced $72,657.83 in loans to the Company. The loans were non-interest bearing and without specific terms of repayment.
Upon Xx. Xxxxxxxx’x resignation as an officer and director of the Company, Xx. Xxxxxxxx assigned the debt payable to him in trust to his successor Xxxxxxx Xxxxxxxxxx, who has served as our President, Chief Executive Officer and director since August 26, 2010. Subsequently, Xx. Xxxxxxxxxx has provided approximately $24,030 in loans to the Company (as at December 29, 2011). The loans were non-interest bearing and without specific terms of repayment.