Exhibit 10.6
Terms of Loan between A Xxxxx (R) and Remedent USA, Inc. (Rem)
& Xxx Xxxxxxxx (K)
The terms of the loan between R and Rem/K are as follows:
1. R will wire Rem/K USD $20,000 of principal for a period of sixty days from
date of funding.
2. Rem/K will repay USD $30,000 to R which includes both principal and
interest, sixty days from the date of funding.
3. In consideration for the loan, Rem will provide R will 100,000 consulting
options at a price of $0.20 cents per option that will expire in two years
from date of grant.
4. Xx. Xxx Xxxxxxxx will set aside a sufficient number of registered shares to
cover $30,000 in indebtedness in the event that the loan is not repaid
sixty days from the date of funding. The parties have agreed that it will
not be necessary to put those shares in an escrow account.
5. Mr. Xxxxx Xxxx will also personally guarantee this loan to Rem/K in the
amount of USD $30,000.
Agreed to: Agreed to: Agreed to:
September 9, 2001 September 9, 2001 September 9, 2001
/s/ Xxx Xxxxxxxx /s/ Xxxxx Xxxx /s/ Xxxx Xxxxx
Xxx Xxxxxxxx Xxxxx Xxxx X. Xxxxx
CEO VP and CFO Lender
