PROMISSORY NOTEIZEA, Inc. • July 18th, 2012 • Services-advertising
FOR VALUE RECEIVED, IZEA, INC., a Nevada corporation (the “Company”), and IZEA INNOVATIONS, INC., a Delaware corporation (“Innovations”) (the Company and Innovations, together, the “Borrower”), hereby promise to pay to the order of Michael Brauser and Barry Honig (together, the “Holder”), at 4400 Biscayne Blvd., Suite 850, Miami, FL 33137, or at such other office as the Holder designates in writing to the Borrower, the principal sum of seventy-five thousand and xx/100 dollars ($75,000.00) (the “Principal”), together with interest on the outstanding Principal balance hereof from the date hereof until this Note is paid in full at the rate of eight percent (8%) per annum (the “Interest”) (the Principal and the Interest, the “Total Loan Amount”). Subject to the Borrower’s right to convert or prepay at any time without premium or penalty, the Total Loan Amount hereunder shall be due and payable in full on December 4, 2012 (the “Maturity Date”). While in default, this Note shall bear interes
