Exhibit 10.1
PROMISSORY NOTE
Principal Amount: $500,000.00
Date: June 26, 2026
FOR VALUE RECEIVED, the undersigned ("Borrower") hereby promises to pay to the Suzanne D. Lord Spousal Estate Reduction Trust dated January 17, 2025 ("Lender"), or its permitted assigns, the principal sum of Five Hundred Thousand Dollars ($500,000.00), together with interest thereon, pursuant to the terms set forth below.
The proceeds of this Note shall be used by the Borrower for short-term working capital and general corporate purposes.
Principal
The Borrower acknowledges receipt of the principal amount of $500,000.00.
Interest
The outstanding principal balance shall bear interest at the rate of nine percent (9.00%) per annum, calculated on the basis of a 365-day year and the actual number of days elapsed.
No payments of principal or interest shall be due prior to the Maturity Date.
Maturity
All outstanding principal together with all accrued and unpaid interest shall be due and payable on the date that is ninety (90) days from the date of this Note (the "Maturity Date").
Prepayment
The Borrower may prepay this Note, in whole or in part, at any time without premium or penalty; provided that any prepayment shall include all accrued but unpaid interest through the date of payment.
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Events of Default
Each of the following shall constitute an Event of Default:
Failure to pay any amount due under this Note on the Maturity Date.
The Borrower files for, or becomes subject to, any bankruptcy, insolvency, or receivership proceeding.
The Borrower materially breaches any provision of this Note and fails to cure such breach within ten (10) business days after written notice from the Lender.
Upon the occurrence of an Event of Default, the Lender may declare all outstanding principal and accrued interest immediately due and payable.
Waivers
The Borrower waives presentment, demand, notice of dishonor, protest, and all other notices or demands in connection with the enforcement of this Note.
Governing Law
This Note shall be governed by and construed in accordance with the laws of the State of California, without regard to its conflict of law principles.
Assignment
This Note shall be binding upon and inure to the benefit of the Borrower and the Lender and their respective successors and permitted assigns.
Amendments
No amendment, modification, or waiver of any provision of this Note shall be effective unless made in writing and signed by both the Borrower and the Lender.
Entire Agreement
This Note constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior discussions or agreements relating thereto.
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IN WITNESS WHEREOF
The parties have executed this Promissory Note as of the date first written above.
BORROWER
AppTech Payments Corporation
By: /s/ Felipe Corrado, IV
Felipe Corrado, IV
Title: Chief Financial Officer and Treasurer
Date: June 26, 2026
LENDER
Suzanne D. Lord Spousal Estate Reduction Trust dated January 17, 2025
Name: Albert L. Lord, Jr. Trustee
Date: June 26, 2026
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