QUICK-MED TECHNOLOGIES, INC. SENIOR CONVERTIBLE PROMISSORY NOTEQuick Med Technologies Inc • October 5th, 2007 • Surgical & medical instruments & apparatus • Florida
FOR VALUE RECEIVED, the undersigned, QUICK-MED TECHNOLOGIES, INC. (the “Borrower”), promises unconditionally to pay to the order of Phronesis Partners, L.P., its successors or assigns (the “Lender”) at the Lender’s office at 180 East Broad St. #1704, Columbus, Ohio 43215, or at such other place as the Lender may from time to time designate, the principal amount of three hundred seventy five thousand dollars ($375,000.00) (the “Principal Amount”) as is disbursed to Borrower pursuant to this Note, together with interest on the unpaid Principal Amount outstanding from time to time at the rate or rates hereafter specified and any and all other sums which may be owing to the Lender by the Borrower pursuant to this Note. The Borrower acknowledges it has already received proceeds of ONE HUNDRED TWENTY FIVE THOUSAND DOLLARS ($125,000) from Lender and that therefore this is the current Principal Amount as of the date of this Note. The following terms shall apply to this Promissory Note:
LICENSE AGREEMENTLicense Agreement • October 5th, 2007 • Quick Med Technologies Inc • Surgical & medical instruments & apparatus • Michigan
This Agreement is effective as of May 24, 2007 (the "Effective Date"), between Quick-Med Technologies, Inc. ("LICENSEE") having the address in Article 13 below, and the Regents of the University of Michigan, a constitutional corporation of the State of Michigan ("MICHIGAN"). LICENSEE and MICHIGAN agree as follows:
