0001042187-97-000006 Sample Contracts

AGREEMENT
Employment Agreement • July 24th, 1997 • Cti Industries Corp
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Guaranty -2-
Guaranty • July 24th, 1997 • Cti Industries Corp
AGREEMENT
Deferred Compensation Agreement • July 24th, 1997 • Cti Industries Corp • Illinois
Exhibit 10.17 FIRST TERM NOTE
Term Note • July 24th, 1997 • Cti Industries Corp

FOR VALUE RECEIVED, the undersigned, CTI Industries Corporation, a Delaware corporation (the "Borrower"), hereby promises to pay to the order of First American Bank, an Illinois banking corporation (the "Bank"), the principal sum of One Million One Hundred Thousand and No/100 Dollars ($1,100,000.00) on September 1, 2001 (or earlier as hereinafter provided), or so much thereof as may be advanced by the Bank and evidenced by this Note under the Loan and Security Agreement dated August 22, 1996 between the Borrower and the Bank (the "Loan Agreement"), together with interest to maturity (whether by lapse of time, accel eration, or otherwise) on the balance of principal remaining from time to time outstanding at a fluctuating rate (or such lower interest rate as determined by Section 1.3.4 of the Loan Agreement) per annum equal to one percent (1%) per annum over the Prime Rate announced from time to time by the Bank (which may not be the Bank's lowest rate of interest) which shall be adjust

FIRST AMENDMENT TO REVOLVING NOTE Loan No. 600804665-57
Revolving Note • July 24th, 1997 • Cti Industries Corp
CTI INDUSTRIES CORPORATION AND CONTINENTAL STOCK TRANSFER & TRUST COMPANY
Warrant Agreement • July 24th, 1997 • Cti Industries Corp • New York
AGREEMENT
Manufacturing Agreements • July 24th, 1997 • Cti Industries Corp • Illinois
Second Term Note Page Two
Second Term Note • July 24th, 1997 • Cti Industries Corp

FOR VALUE RECEIVED, the undersigned, CTI Industries Corporation, a Delaware corporation (the "Borrower"), hereby promises to pay to the order of First American Bank, an Illinois banking corporation (the "Bank"), the principal sum of Two Million Two Hundred Thousand and No/100 Dollars ($2,200,000.00) on September 1, 2001 (or earlier as hereinafter provided), or so much thereof as may be advanced by the Bank and evidenced by this Note under the Loan and Security Agreement of even date between the Borrower and the Bank (the "Loan Agreement"), together with interest to maturity (whether by lapse of time, acceleration, or otherwise) on the balance of principal remaining from time to time outstanding at a rate per annum equal to eight and three-quarters percent (8.75%). Interest shall be calculated on the basis of a 360-day year and actual days.

AND
Underwriter's Warrant Agreement • July 24th, 1997 • Cti Industries Corp • New York
Fourth Term Note Page Two
Fourth Term Note • July 24th, 1997 • Cti Industries Corp

FOR VALUE RECEIVED, the undersigned, CTI Industries Corporation, a Delaware corporation (the "Borrower"), hereby promises to pay to the order of First American Bank, an Illinois banking corporation (the "Bank"), the principal sum of Two Hundred Thousand and No/100 Dollars ($200,000.00) on July 1, 1998 (or earlier as hereinafter provided), or so much thereof as may be advanced by the Bank and evidenced by this Note under the Loan and Security Agreement dated August 19, 1996, as it has been amended from time to time, between the Borrower and the Bank (the "Loan Agreement"), together with interest to maturity (whether by lapse of time, acceleration, or otherwise) on the balance of principal remaining from time to time outstanding at a fluctuating rate per annum equal to one percent (1%) per annum over the Prime Rate announced from time to time by the Bank (which may not be the Bank's lowest rate of interest) which shall be adjusted daily when and as the Bank's Prime Rate changes. Interest

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Third Term Note Page Two
Third Term Note • July 24th, 1997 • Cti Industries Corp

FOR VALUE RECEIVED, the undersigned, CTI Industries Corporation, a Delaware corporation (the "Borrower"), hereby promises to pay to the order of First American Bank, an Illinois banking corporation (the "Bank"), the principal sum of Two Hundred Seventy Five Thousand and No/100 Dollars ($275,000.00) on October 1, 2000 (or earlier as hereinafter provided), or so much thereof as may be advanced by the Bank and evidenced by this Note under the Loan and Security Agreement dated August 19, 1996, as it has been amended from time to time, between the Borrower and the Bank (the "Loan Agreement"), together with interest to maturity (whether by lapse of time, acceleration, or otherwise) on the balance of principal remaining from time to time out standing at a fluctuating rate per annum equal to one percent (1%) per annum over the Prime Rate announced from time to time by the Bank (which may not be the Bank's lowest rate of interest) which shall be adjusted daily when and as the Bank's Prime Rate

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