Attached files
| file | filename |
|---|---|
| 8-K - GEX MANAGEMENT, INC. - GEX MANAGEMENT, INC. | gex8k6917.htm |
Exhibit 10.2
DEBT CONVERSION AGREEMENT
This Debt Conversion Agreement is made as of this 7th day of June, 2017, by and between GEX Management, Inc., a Texas corporation (hereafter “GEX” or the “Company”), located at 12001 N. Central Expressway, Suite 825, Dallas, Texas 75243, and Agile Connections, LLC, a Texas limited liability company located at 1601 Elm St., Dallas, Texas 75201 (hereafter “Agile”).
WITNESSETH:
| WHEREAS: | GEX Management, Inc. (formerly known as Group Excellence Management (d/b/a MyEasyHQ) executed a Line of Credit Promissory Note with the Company’s Chief Executive Officer on March 1, 2015, referred to as the “Loan Agreement” for $1,000,000, a copy of which is attached hereto and made a part hereof for all purposes; |
| WHEREAS: | GEX has borrowed $317,186.66 as of June 7, 2017, and has accrued interest in the amount of $28,557.60; |
| WHEREAS: | Agile desires to convert the debt of $317,186.66 and accrued interest of $28,557.60 due under the Loan Agreement for a total of $345,744.26 in exchange for newly issued, common shares of GEX restricted pursuant to SEC Rule 144, as amended. |
| I. | GEX and Agile hereby mutually agree to convert the debt of $317,186.66 and accrued interest of $28,557.60 due under the Loan Agreement in exchange for the issuance of the following restricted common shares in GEX Management, Inc.: |
Agile Connections, LLC - 115,248 shares
| II. | GEX and Agile hereby mutually agree to cancel the Loan Agreement as of the date first mentioned above. |
IN WITNESS WHEREOF, the parties hereto have caused this Debt Conversion Agreement to be duly executed as of the date first written above.
GEX Management, Inc.
By: /s/ Clayton Carter
Clayton Carter, Chief Financial Officer
Agile Connections, LLC
By: /s/ Chris Sahliyeh
Chris Sahliyeh