SECURED PROMISSORY NOTE & SETTLEMENT AGREEMENTSettlement Agreement • November 22nd, 2010 • Innolog Holdings Corp. • Services-motion picture & video tape production
FOR VALUE RECEIVED, the undersigned, Innolog Holdings Corporation, Innovative Logistics Techniques, Inc., Galen Capital Corporation, Galen Capital Group, LLC and GCC Capital Group, LLC (together the “Maker”), jointly and severally promise to pay to the Kay M. Gumbinner Trust (the “Holder”), at such place as the Holder may later designate in writing, in lawful money of the United States, the principal sum of forty-five thousand United States dollars ($45,000.00) in accordance with this promissory note (the “Note”) under the terms set forth herein.
