Exhibit 10.2
2nd AMENDMENT TO PROMISSORY NOTE
This 2nd Amendment to Promissory Note (the "2nd Amendment") is made
December 9, 2011, by and between Domark lnternational, Inc. (the Company") and
Infinite Funding, Inc. (the "Holder").
WHEREAS, on June 10, 2011, the Company entered into a Promissory Note (the
"Note"), a copy of which is attached hereto, in the aggregate amount of $75,000,
with a due date of October 15, 2011;
WHEREAS, on September 28, 2011, the Company and Holder executed an
Amendment to Promissory Note (the "Amendment"), a copy of which is attached
hereto;
WHEREAS, pursuant to the terms of the Amendment, the Note is due on or
before December 15, 2011;
WHEREAS, as of the date hereof, the Company has not made payments on the
Note;
WHEREAS, on December 9, 2011, the Company and Holder agreed to amend
certain provisions of the Note;
NOW THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:
1. EXTENSION OF DUE DATE OF NOTE. The Parties agree that the Due Date of
the Note shall be extended to April 15, 2012.
2. EXTENSION FEE. The Parties agree that a fee in the amount of $20,000
will be added to the principal balance of the loan in consideration
for the extension granted herein.
3. PRINCIPAL BALANCE. Upon signing of this Amendment, the aggregate
principal balance due under the June 2011Note shall be $95,000.
4. EFFECTIVE DATE. The effective date of this Agreement shall be December
9, 2011. All other provisions of the Note and of the Amendment remain
in force.
IN WITNESS WHEREOF, the Company and the Holder hereby execute this
Agreement as of the date first written above.
DOMARK INTERNATIONAL INFINITE FUNDING, INC.
By: /s/ R. Xxxxxx Xxxx /s/ Alina Yurovskay
-------------------------------- ----------------------------------
R. Xxxxxx Xxxx Alina Yurovskay
Chairman President
GUARANTOR
By: /s/ R. Xxxxxx Xxxx
--------------------------------
R. Xxxxxx Xxxx
An Induvidual
