BIG CITY BAGELS, INC. 99 Woodbury Road Hicksville, New York 11801Promissory Note • July 3rd, 1997 • Big City Bagels Inc • Retail-eating places
This will also confirm that you have agreed that until December 31, 1997, you will loan to the Company, up to $100,000, in $10,000 increments each, within three business days after you have received notice from the Company, which notice may only be given if the Company has less than $25,000 of funds in bank accounts, money market funds and United States Treasury Bills. Any funds loaned to the Company pursuant to this paragraph will bear interest at the rate of 12% per annum and shall be payable on the earlier of (i) June 30, 1998 or (ii) such time as the Company has $750,000 of funds in bank accounts, money market funds and United States Treasury Bills. If and when the principal amount of such loans by you to the Company exceeds $50,000, the Company will secure your loan (which will be payable pari passu with any similar loans that are made to the Company by Stanley Weinreb and Stanley Raphael) with a first priority security interest in the Company's equipment (subordinate only to exis
As of June 11, 1997 Mark Weinreb 151 Bristol Drive Woodbury, New York 11797 Dear Mr. Weinreb: Reference is made to the Employment Agreement, dated as of January 1, 1996, between Big City Bagels, Inc. ("Company") and you ("Employment Agreement"). The...Employment Agreement • July 3rd, 1997 • Big City Bagels Inc • Retail-eating places
Reference is made to the Employment Agreement, dated as of January 1, 1996, between Big City Bagels, Inc. ("Company") and you ("Employment Agreement"). The Employment Agreement currently provides for you to receive an annual salary of $181,500 per annum, with 10% annual increases thereafter. Commencing July 1, 1997, you agree that the Company may accrue and not pay $3,500 of your salary per month through December 31, 1997. The accrued amount will not bear interest and will not be payable until the earlier of (i) January 1, 1998 or (ii) such time as the Company has $750,000 of funds in bank accounts, money market funds and United States Treasury Bills.
BIG CITY BAGELS, INC. 99 Woodbury Road Hicksville, New York 11801Warrant Agreement • July 3rd, 1997 • Big City Bagels Inc • Retail-eating places
Re: Warrant Agreement, dated as of May 7, 1996 between Big City Bagels, Inc. ("Company") and Continental Stock Transfer & Trust Company ("Warrant Agent") ("Warrant Agreement") ----------------------------------------------------------- Gentlemen:
