EXHIBIT 10.14
EXTENSION OF MATURITY DATE OF CONVERTIBLE DEBENTURE
This Extension of Maturity Date of Convertible Debenture is entered
into as of the 25th day of August, 2006 by and between Xxxxx X. Xxxxxxx
("Xxxxxxx") and Teeka Tan Products, Inc., a Delaware corporation formerly known
as IHealth, Inc. ("Maker").
WHEREAS, Maker has delivered to Xxxxxxx that certain Convertible
Debenture dated August 24, 2004 in the principal amount of $200,000 payable to
Xxxxxx Xxxxxxx XX Inc. Custodian for Xxxxx X. Xxxxxxx XXX STD SEP 1-23-85 (the
"Debenture"), a copy of which is attached hereto as Exhibit A and incorporated
herein by such reference.
WHEREAS, the Maturity Date of the Debentures, as that term is defined
in the Debenture, is August 26, 2006, and all principal and interest due
thereunder remain unpaid as of the date hereof.
WHEREAS, the parties have agreed to extend the Maturity Date.
WHEREAS, Xxxxxxx has all requisite power, authority, and capacity to
enter into this agreement and to extend the Maturity Date of the Debenture.
NOW, THEREFORE, in consideration of the mutual promises and covenants
herein contained, and other good and valuable consideration, the receipt of
which is hereby acknowledged, Xxxxxxx and the Maker hereby agree as follows:
1. Recitals. The foregoing recitals are true and correct.
2. Extension of Maturity Date. The Maturity Date is hereby extended to
August 26, 2007.
3. No Other Changes. Except as specifically set forth herein, all other
terms and conditions of the Debenture remain in full force and effect.
IN WITNESS WHEREOF, this Extension of Maturity Date of Convertible
Debenture is executed as of the day and date first above written.
Witnesses
/s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
---------------------------- Teeka Tan Products, Inc.
/s/ Xxxxx Xxxx
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Xxxxx Xxxx, President
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