Issue Price: 499,800.00 Principal Amount: $588,000.00 October 25, 2012Zero Coupon Secured Promissory Note • May 5th, 2020 • California
The Borrower is Adamis Pharmaceuticals Corporation, a Delaware corporation, located at 11455 El Camino Real, Suite 310, San Diego, California 92130 (“Borrower”). The Lender is The G-Max Trust, located in San Diego, California (“Lender” or “Holder”). 1. Principal. For value received, consisting of an initial issue price of Four Hundred Nighty-Nine Thousand Eight Hundred Dollars ($499,800.00), Borrower promises to pay Lender Five Hundred Eighty-Eight Thousand Dollars ($588,000.00) (the “Principal Amount”). This Note is a zero coupon note. All sums owed under this Note are payable in lawful money of the United States of America. Payment shall be made at Lender's address as above. 2. Interest. (a) Payment of Interest. If the Debtor repays this Note on or before the Maturity Date and no Event of Default has occurred, the Interest Rate shall be zero percent (0.00%). (b) Prepayment. Borrower may prepay the principal amount of this Note at any time upon at least five (5) Trading Days prior not
