{"id":38713,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/contingent-recourse-non-negotiable-promissory-note-george-t.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"contingent-recourse-non-negotiable-promissory-note-george-t","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/contingent-recourse-non-negotiable-promissory-note-george-t.html","title":{"rendered":"Contingent Recourse Non-Negotiable Promissory Note &#8211; George T. Haber"},"content":{"rendered":"<pre>\n\n               CONTINGENT RECOURSE NON-NEGOTIABLE PROMISSORY NOTE\n\n                              San Jose, California\n\n$700,000                                                    July 20, 2000\n\n         FOR VALUE RECEIVED, the undersigned (hereinafter called \"Maker\"),\nsubject to the conditions below, promises to pay to the order of GIGAPIXEL\nCORPORATION, a Delaware corporation (the \"Company\"), the principal sum of Seven\nHundred Thousand and No\/100 Dollars ($700,000) with no interest. All amounts are\npayable at 4435 Fortran Drive, San Jose, California 95134 or such other place as\nthe holder hereof may designate in writing. This Note is executed pursuant to\nthe Consulting Agreement (the \"Consulting Agreement\") dated of even date\nherewith between the Company and Maker, is subject to the provisions set forth\ntherein, and is being executed solely to evidence the contingent repayment\nobligation of Maker described in Section 4 of the Consulting Agreement.\n\n         This Note shall be due and payable in a single installment of the full\nprincipal amount hereof IF AND ONLY IF Maker shall fail to remain employed by\nthe Company for two (2) years under Maker's Consulting Agreement with the\nCompany of even date herewith for reasons other than (i) Maker's death or\npermanent disability (as described in the Consulting Agreement), (ii) leave\nauthorized by the Company not involving termination of the consulting\nrelationship between the Company and Maker, or (iii) transfer of Maker by the\nCompany to a subsidiary, parent, successor or affiliate of the Company to which\nthe Consulting Agreement is assigned by the Company. If this Note shall become\ndue and payable, such single installment shall be paid one (1) business day\nfollowing the termination of Maker's employment with the Company.\n\n         Maker waives all demands for payment, presentations for payment, notice\nof intention to accelerate maturity, notices of acceleration of maturity,\ndiligence in collecting, grace, notice, protest and notices of protest.\n\n         If this Note becomes due and payable and is not paid at maturity and is\nplaced in the hands of an attorney for collection or if it is collected through\nbankruptcy or any other judicial proceedings, then (i) Maker agrees and promises\nto pay to the holder hereof all costs of collection and enforcement including,\nbut not limited to, reasonable attorneys' fees, not to exceed ten percent (10%)\nof the principal on this Note not paid at maturity, and (ii) interest at the\nrate of ten percent (10%) per annum shall begin to accrue thereafter.\n\n         This Note is governed by, and shall be construed under, the laws of the\nState of California.\n\n                                        By:   \/s\/ George T. Haber\n                                           ------------------------------------\n                                        Name: George T. Haber\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6538,7638],"corporate_contracts_industries":[9508,9513],"corporate_contracts_types":[9539,9541],"class_list":["post-38713","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-3dfx-interactive-inc","corporate_contracts_companies-gigapixel-corp","corporate_contracts_industries-technology__hardware","corporate_contracts_industries-technology__software","corporate_contracts_types-compensation","corporate_contracts_types-compensation__consulting"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38713"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38713"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38713"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}