EXHIBIT 4.5
EXTENSION AGREEMENT
This agreement is made this ___ day of January 1997 by and between Xxxx
Xxxxxxx ("Lender " or "Holder") and Illuminated Media Inc. (fka Skyway
Advertising, Inc.) ("Skyway " or "Corporation").
Whereas, the parties hereto are parties to the following agreement due January
10. 1997, 1997.
1) $30,000.00 Subordinated Debenture
and;
Whereas, the parties wish to extend the due date of the Debenture referenced
above: and
Whereas, both parties hereto have acknowledged the receipt of good and valuable
consideration for the covenants, promises, performances and obligations
undertaken, or to be undertaken in fulfillment of this Agreement;
NOW, THEREFORE, IT IS HEREBY AGREED:
1) All prior agreements between the parties, including, but not limited to the
above referenced Debenture, are incorporated herein by reference.
2) The term of the Debenture referenced above shall be extended to February 28,
1997
3) Illuminated Media Inc shall file a Registration Statement and commence an
Initial Public Offering of its Common Stock as soon as is reasonably
practicable after the end of its fiscal year on February 29, 1996.
4) To the extent any previous agreement of the parties hereto, including, but
not limited to those agreements referenced above, are inconsistent with the
terms of this agreement, all such prior agreements are superseded by the
terms hereof to the extent of any such inconsistency.
Dated: January ___, 1997 Illuminated Media Inc
________________________ By:_______________________
