Exhibit 10.2
PROMISSORY NOTE
Wellington, Florida
FOR VALUE RECEIVED, The QUANTUM GROUP, INC., a Nevada corporation (“Quantum” or the
“Borrower”) promises to pay to the order of (“Lender”) the principal sum of ________________ Thousand
and no/100ths Dollars ($_____________.00) (the “Obligation”). No interest shall accrue during the term of this
Note, except as otherwise provided herein. In lieu of interest hereon, Borrower hereby promises to pay to Lender
the principal sum of _________________________ and _____/100ths Dollars ($___________.__) as payment
in full (the “Principal Payment” or “Principal”). The difference between the Obligation and the Principal Payment
shall be treated as “original issue discount” and be reported as interest income over the term of this Note.
1.
$______________.00
_________ , 2009
Maturity Date . The Principal Payment shall be due and payable on __________, 2009 (the “Maturity
Date”). In the event the Obligation has not been paid in full by such Maturity Date, the Obligation, plus interest
accruing from the date hereof through the date of payment at the rate of Fifteen Percent (15%), compounded
monthly and on the basis of a 360-day year of twelve 30-day months, in arrears, on a proportionate basis, shall
thereafter be payable Sixty (60) days after demand for payment by the Lender.
2. Prepayment . Borrower shall prepay any or all amounts due under this Note at the closing of any public or
private financing for which the Company receives gross proceeds of at least $2,000,000.
3. Method of Payment . Any payment hereunder shall be made by certified or bank cashier’s check unless
Lender has provided Borrower with appropriate wire instructions, in which event, the payment shall be made by
wire transfer of “same day” funds.
4. Default . In the event of an occurrence of any event of default specified below, the Principal Payment shall
become immediately due and payable without notice, except as specified below:
(a) Borrower fil