EX-10 6 ex105.htm AMENDMENT NO. 1 TO MARC PICKREN PROMISSORY NOTE

Exhibit 10.5

 

AMENDMENT NO. 1 TO PROMISSORY NOTE

 

AMENDMENT NO. 1 TO PROMISSORY NOTE (the "NOTE"), dated as of March 31, 2010 (this “Amendment”), among CORNERWORLD CORPORATION, a Nevada corporation (the “Borrower”) and MARC PICKREN (“Lender”).

 

WITNESSETH:

 

WHEREAS, on August 28, 2009, the Borrower and the Lender party thereto entered into the Promissory Note dated as of February 23, 2009 (as it may be amended from time to time, the “Promissory Note”).

 

WHEREAS, the Borrower has requested, and the Lender has agreed, to amend the Promissory Note as set forth below.

 

NOW, THEREFORE, in consideration of the premises and the agreements hereinafter contained, and for other good and valuable consideration, notwithstanding any provisions of the Promissory Note to the contrary, the parties hereto hereby agree to amend and replace in its entirety ARTICLE I (a), as follows:

 

a) Principal on the Note will be paid according to Schedule A, as attached hereto.

 

 

 

/s/ Scott N. Beck

 

By: Scott N. Beck

 

CORNERWORLD CORPORATION

 

Its: Chief Executive Officer

 

 

 

 

 

/s/ Marc Pickren

 

By: Marc Pickren

 

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Schedule A to Promissory Note:

 

Scheduled Payment Date

Amount

 

 

June 2, 2009

$1,074

 

 

March 31, 2010

$300

 

 

April 30, 2010

$300

 

 

May 31, 2010

$300

 

 

June 30, 2010

$300

 

 

July 31, 2010

$300

 

 

August 31, 2010

$300

 

 

September 30, 2010

$300

 

 

October 31, 2010

$300

 

 

November 30, 2010

$300

 

 

December 31, 2010

$300

 

 

March 31, 2011

$4,500

 

 

June 30, 2011

$4,500

 

 

September 30, 2011

$4,500

 

 

December 31, 2011

$4,500

 

 

March 31, 2012

$4,500

 

 

June 30, 2012

$4,500

 

 

September 30, 2012

$4,500

 

 

December 31, 2012

$9,426

 

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