Henry Esber
Exhibit 10.16(b)
February 19, 2014
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Re: Amended and Restated 8% Convertible Debenture Conversion Letter Agreement
Dear ▇▇▇▇▇:
We are offering holders of the Innovus Pharmaceuticals, Inc. (“Innovus” or the “Company”) Amended and Restated 8% Convertible Debenture, dated January 15, 2103 (the “Debenture”), with the opportunity to do a one-time conversion of the outstanding principal and interest under the Debenture at a conversion rate of $0.40 per share of common stock of the Company.
If you would like to participate in this conversion process, please (1) sign this letter agreement below and (2) please surrender the Debenture, appropriately endorsed to us at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ accompanied by your written notice to us setting forth the names or names (with addresses(es)) in which the common stock of Innovus shall be issued and registered on the books of the Company. The Debenture shall be marked cancelled on the books of the Company as of the date hereof, whether or not surrendered.
As of the date hereof, the principal and accrued interest under the Debenture is $76,122 and will convert into 190,304 shares of our common stock.
If you would like to convert into shares of the Company’s common stock as described above, please sign below.
Once you convert as described herein, your Debenture will terminate in its entirety as of the date hereof.
Please scan this document back to me at ▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or fax it back to us at ▇▇▇-▇▇▇-▇▇▇▇.
Kind Regards,
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Executive Vice President, Chief Financial Officer
I, hereby, agree to be bound by the terms and conditions of this letter agreement:
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cc. ▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇
President and CEO
▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Esq.
Acting General Counsel and Secretary
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