Magnum dOr Resources Inc
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v143340_ex10-1.htm
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
10.1</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">MAGNUM D&#8217;OR RESOURCES
INC.</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CONVERTIBLE PROMISSORY
NOTE</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issue
      Date:</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">March
      16, 2009</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Principal
      Amount:</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$15,000,000
      (U.S.)</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Maturity
      Date:</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">March
      16, 2017</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Maturity
      Total Due:</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$24,750,000
      (U.S.)</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>FOR VALUE RECEIVED, Magnum d&#8217;Or
Resources, Inc., a Nevada corporation (the &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">Maker</font>&#8221;), promises to pay to
the order of SIMCO GROUP (the &#8220;<font style="DISPLAY: inline; FONT-STYLE: italic">Payee</font>&#8221;), at the principal
office of the <font style="DISPLAY: inline; FONT-STYLE: italic">Payee</font>, or
other location as may be directed by the <font style="DISPLAY: inline; FONT-STYLE: italic">Payee</font>, the sum of twenty-four
million seven hundred fifty thousand dollars ($24,500,000 U.S.) on or before
March 16, 2017 (the &#8220;Maturity Date&#8221;).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The <font style="DISPLAY: inline; FONT-STYLE: italic">Payee</font> of This Note may pursue
any rights or remedies as the holder of this Note or under any security
agreement, pledge, guaranty or other collateral documents, independently or
concurrently.&#160;&#160;All rights, remedies, or powers herein conferred upon
the holder of this Note or related documentation upon the holder of this Note
shall, to the extent not prohibited by law, be deemed cumulative and not
exclusively of any others thereof, or of any other rights, remedies, or powers
available to the holder of this Note under applicable law.&#160;&#160;No delay
or omission of the holder of this Note to exercise any right, remedy, or power
shall impair the same or be construed to be a waiver of any default or impair
any rights, remedies, or powers available to the holder of this
Note.&#160;&#160;No single or partial exercise of any right, remedy, or power
shall preclude any other or future exercise thereof by the holder of this
Note.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This Note will be subject to conversion
at the option of the holder, exercisable at any time until the close of business
(Florida time) on the date of the Note's maturity, but not before the fourth
year, commencing March 17, 2013. Upon such election, the principal amount of the
Note (or any portion thereof that is an integral multiple of $10,000) shall be
converted into fully paid and non-assessable whole shares of Common Stock at a
Conversion Price per share that is equal to the average closing bid price of the
Common Stock during the twenty (20) consecutive trading days immediately
preceding the date the holder completes a request to convert as described below.
The conversion rate will be calculated by multiplying the principal amount
($15,000,000 US) by a factor of 1.5 plus any accrued interest on the date of
conversion. The conversion right will terminate at the close of business on the
Business Day immediately preceding the date fixed for redemption (March 16,
2017). Anything to the contrary herein contained notwithstanding, the Holder of
the Note may not convert any portion of the Note, which if converted would
result in the Holder owning of record or beneficially more the 4.9% of the
issued and outstanding common Shares of the Company at the time of such
conversion without proper disclosure to the US Securities Exchange
Commission.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
convert the Note, the holder must surrender the Note to the <font style="DISPLAY: inline; FONT-STYLE: italic">Maker</font>, furnish appropriate
endorsements or transfer documents if required by a Registrar or Conversion
Agent, and pay any transfer or similar tax, if required. The number of shares
issued upon conversion of the Note is determined by dividing the principal
amount, multiplied by a factor of 1.5 plus any accrued interest, at the time of
conversion of the Note, converted by the Conversion price as determined above in
effect on the Conversion Date. No fractional shares will be issued upon
conversion but a cash adjustment will be made for any fractional
interest.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition to and not in limitation of the foregoing, the <font style="DISPLAY: inline; FONT-STYLE: italic">Maker</font> further agrees to pay
the holder of this Note such additional amounts as shall be sufficient to cover
the costs and expenses of collection, including reasonable compensation for the
holder&#8217;s agents and attorneys, in endeavoring to collect any amounts payable
hereunder which are not paid when due, whether by acceleration or
otherwise.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The <font style="DISPLAY: inline; FONT-STYLE: italic">Maker</font>, endorsers, sureties,
guarantors and all other persons who may become liable for all or any part of
this obligation severally waive notice of default, notice of dishonor, notice of
acceleration, presentment for payment, protest and notice of
nonpayment.&#160;&#160;Said parties consent to any extension of time (whether
one or more) of payment hereof, the release of all or any part of the collateral
securing the payment hereof, or the release of any party liable for payment of
this obligation.&#160;&#160;Any such extension or the release may be made
without notice to any such party and without discharging said party&#8217;s liability
hereunder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The <font style="DISPLAY: inline; FONT-STYLE: italic">Maker</font> and the <font style="DISPLAY: inline; FONT-STYLE: italic">Payee</font> intend and believe that
each provision in this Note comports with all applicable local, state and
federal laws and judicial decisions.&#160;&#160;However, if any provision or
provisions, or if any portion of any provision or provisions, in this Note is
found by a court of law to be in violation of any applicable local, state or
federal ordinance, statute, law, administrative or judicial decision, or public
policy, and if such court should declare such portion, provision or provisions
of this Note to be illegal, invalid, unlawful, void or unenforceable as written,
then it is the intent of all parties hereto that such portion, provision or
provisions shall be given force to the fullest possible extent that they are
legal, valid and enforceable, that the remainder of this Note shall be construed
as if such illegal, invalid, unlawful, void or unenforceable portion, provision
or provisions were not contained therein, and that the rights, obligations and
interest of <font style="DISPLAY: inline; FONT-STYLE: italic">Maker</font> and
<font style="DISPLAY: inline; FONT-STYLE: italic">Payee</font> under the
remainder of this Note shall continue in full force and effect.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This Note
is made under and governed by the laws of the State of Florida.&#160;&#160;This
Note may be prepaid in whole or in part without penalty.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AUTHORIZED
SIGNATURES</font></div>
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      D&#8217;OR RESOURCES, INC.</font></div>
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                        <td valign="top" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">      </font>
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      </font></td>
                        <td valign="top" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Joseph
      J. Glusic, President</font></div>
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                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SIMCO
      GROUP</font></div>
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