PROMISSORY NOTE AND STOCK PLEDGE AGREEMENTPromissory Note and Stock Pledge Agreement • July 12th, 2016 • Life Clips, Inc. • Services-motion picture & video tape production • North Carolina
FOR VALUE RECEIVED, the undersigned, Life Clips, Inc., a Wyoming corporation (“Maker”), hereby promises to pay to the order of each of Nataly Assis, Ofer Hasid, Elad Ronen, Shirel Dahan and Cytex Inc. (each, a “Payee,” together, the “Payees,” and together with any subsequent holders of this Promissory Note and Stock Pledge Agreement, the “Holders”), his or her Pro-Rata Share (as hereinafter defined) of the principal sum of Five Hundred Thousand Dollars ($500,000), together with all accrued interest thereon at a rate equal to 1.0% per annum, with $250,000 of principal plus all accrued but unpaid interest under this Note to be paid on each of October 11, 2016 and February 13, 2017. The term of this Note shall be period commencing on the date hereof and ending on the date final payment is made in full of all amounts due hereunder. “Pro-Rata Share” means, with respect to any Payee, that percentage for such Payee set forth on Exhibit A.
