> Exhibit 10.2
> 
> 
> SHARE EXCHANGE AGREEMENT
> 
>          THIS SHARE EXCHANGE AGREEMENT (“Agreement”) is made and entered into
> this 19 day of October, 2004, by and between International Media Network AG.,
> (“IMN”), a Switzerland ______________, having its principal office at
> _________________________, Zurich, Switzerland and Norman R. Dobiesz (“NRD”),
> an individual residing at ________________________________.
> 
>          W I T N E S S E T H:
> 
>          WHEREAS, NRD desires to exchange (the “Exchange”) the shares of
> Series A Preferred Stock he owns in Teltronics, Inc., a Delaware corporation
> (“Teltronics”) for shares of IMN’s issued and outstanding $_____ par value
> Common Stock (“IMN Common”) in accordance with the terms and conditions of
> this Agreement.
> 
>          NOW, THEREFORE, in consideration of the mutual promises, covenants
> and agreements of the parties contained herein, and other good and valuable
> consideration, the receipt and adequacy of which are hereby acknowledged, the
> parties, intending to be legally bound hereby, do hereby agree as follows:
> 
>          1.        Exchange of Stock.
> 
>                   (a)        Subject to the terms and conditions of this
> Agreement, NRD agrees to transfer and deliver at the Closing, as defined in
> paragraph 2 of this Agreement, all the shares of Series A Preferred Stock
> (“Series A Preferred Stock”) owned by NRD to IMN in exchange for 33.4% of the
> issued and outstanding shares of IMN Common (“IMN Shares”).
> 
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> 
>                   (b)         The certificate evidencing the Series A
> Preferred Stock to be delivered by NRD to IMN at the Closing shall be
> accompanied by stock powers duly endorsed by NRD in the manner mutually agreed
> to by NRD and IMN.
> 
>                   (c)         The certificate representing the IMN Shares to
> be delivered by IMN to NRD at Closing shall be registered in NRD’s name, shall
> be free-trading and unrestricted, and shall not contain any legend restricting
> transfer.
> 
>                   (d)        At the Closing and from time to time thereafter,
> NRD and IMN shall each execute such additional instruments and take such other
> action as the other may reasonably request to more effectively sell, transfer,
> convey and assign the Series A Preferred Stock to IMN, and the IMN shares to
> NRD, and to confirm the title of each thereto.
> 
>          2.         Closing.
> 
>                   (a)         Closing.   The closing of the transactions
> contemplated by this Agreement (the “Closing”) shall be held at the offices of
> the Company in Sarasota, Florida on or before February ___, 2005, unless
> another place or time is agreed upon in writing by the parties (the “Closing
> Date”).
> 
>                   (b)         Conduct of Closing.   Subject to the fulfillment
> of all of the conditions set forth in paragraph 7 of this Agreement and the
> delivery of all certificates required thereby, except such conditions as may
> be waived by the parties in writing pursuant to paragraph 8(b) of this
> Agreement, on the Closing Date:
> 
>                            (1)         IMN.   IMN shall deliver to NRD:
> 
> (i)
> 
> the stock certificate(s) for the IMN Shares described in paragraph 1(c);
> 
> 
> 2
> 
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> 
> (ii)
> 
> the certificate contemplated by paragraph 7(a)(1); and (iii) an irrevocable
> proxy and other documents to effect the voting agreement described in
> paragraph 7(a)(4) of this Agreement.
> 
>                            (2)         NRD.   NRD shall deliver to IMN:
> 
> (i) the certificate(s) for the Series A Preferred Stock and stock power(s)
> described in paragraph 1(b); (ii) the certificate contemplated by paragraphs
> 7(b)(1); and (iii) the consent of Teltronics to transfer the shares of Series
> A Preferred Stock to IMN.
> 
>          3.         Representations and Warranties by IMN.   IMN represents
> and warrants that:
> 
>                   (a)         Corporate.   IMN is a ___________________ duly
> organized, validly existing and in good standing under Switzerland law and has
> full power and authority to own, operate and lease its properties, owned,
> operated and leased, and to conduct its business as now and heretofore
> conducted.
> 
>                   (b)         Ownership of Shares; Authority.   Upon issuance
> to NRD, NRD will be the record owner and holder of the IMN Shares, which will
> be fully paid and non-assessable, free and clear of any lien, security
> interest, liability, encumbrance or other restriction, free-trading and
> unrestricted as to transfer. IMN has the full and unqualified power and
> authority
> 
> 3
> 
> --------------------------------------------------------------------------------
> 
> to transfer and deliver the IMN Shares Stock to NRD in accordance with the
> terms of this Agreement.
> 
>                   (c)         Shares. The authorized capital stock of IMN
> consists of _____________  (______) shares of IMN Common, of which
> _____________ (_____) shares are validly issued and outstanding.
> 
>                   (d)         Litigation and Claims.  There is no action,
> suit, proceeding, claim or investigation, environmental or otherwise, which is
> pending or, to the knowledge of IMN, threatened against IMN, and there is no
> outstanding order, writ, injunction or decree of any court or governmental
> agency against or affecting IMN.
> 
>                   (e)         Effect of Agreement.   The execution, delivery,
> and performance of this Agreement by IMN and the consummation by IMN of the
> transactions contemplated hereby do not (i) require the consent, waiver,
> approval, license or authorization of any person or public authority, (ii)
> violate, with or without the giving of notice or the passage of time, any
> provision of law applicable to IMN, (iii) conflict with or result in a breach
> of IMN’s charter, certificate or articles of incorporation or other governing
> instruments, however denominated, or any mortgage, deed of trust, license,
> indenture or other agreement or instrument, or any judgment, decree, statute,
> regulation or other restriction of any kind or character to which IMN is a
> party or by which any of its assets may be bound, or give to others any right
> to terminate or result in termination of any provision of any such
> instruments, and (iv) result in the creation of any lien, charge or
> encumbrance upon any of the property or assets of IMN or in the acceleration
> or maturity of any debt of IMN.
> 
>          4.         Representations and Warranties of NRD.   NRD represents
> and warrants to IMN as follows:
> 
> 4
> 
> --------------------------------------------------------------------------------
> 
>                   (a)         Corporate.   Teltronics is a corporation duly
> organized and validly existing under the laws of the State of Delaware.
> 
>                   (b)         Series A Preferred Shares.   Teltronics has
> authorized 100,000 shares of the Series A Preferred Stock, all of which shares
> are presently issued to him and outstanding.
> 
>                   (c)         Ownership of Series A Preferred Shares; Power.  
> He is the record owner and holder of all of the shares of Series A Preferred
> Stock, which he owns free and clear of any lien, security interest, liability,
> encumbrance or other restriction, except that the consent of Teltronics is
> required to transfer the shares of Series A Preferred Stock to IMN. He has the
> power and capacity to execute and perform this Agreement and consummate the
> transactions contemplated by this Agreement.
> 
>          5.        Investment Representations of IMN.
> 
>                   (a)         Investment Intent.   IMN represents that it is
> acquiring the shares of Series A Preferred Stock for its own account, for
> investment and not with a view to the distribution thereof or with any present
> intention of distributing or reselling such shares.
> 
>                   (b)         Restrictions on Transfer.   IMN acknowledges
> that (1) the shares of Series A Preferred Stock have not been registered under
> the Securities Act of 1933, as amended, (the “Act”), and the shares of Series
> A Preferred Stock are what are commonly referred to as “lettered” or
> “restricted” securities; (2) unless the shares of Series A Preferred Stock are
> registered under the Act, or an exemption from registration is available and
> the availability of such exemption is confirmed by an opinion of reputable
> counsel for IMN satisfactory in form and substance to Teltronics and its
> counsel, the shares of Series A Preferred Stock may not be transferred and IMN
> may be required to hold them indefinitely, and, hence, to bear the economic
> 
> 5
> 
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> 
> risk of the investment for an indefinite period, such risk IMN is able to
> bear; (3) the United States Securities and Exchange Commission has adopted
> Rule 144 under the Act (“Rule 144”) which deals with the transfer and sale of
> restricted securities; (4) IMN understands that the availability of Rule 144
> for the sale and transfer of the shares of Series A Preferred Stock is very
> limited, and that numerous conditions and events, including, without
> limitation, a holding period of not less than two (2) years, must exist before
> it would be able to utilize Rule 144 in connection with the sale or other
> disposition of the shares of Series A Preferred Stock; (5) if the shares of
> Series A Preferred Stock are not sold or transferred pursuant to registration
> under the Act or pursuant to Rule 144, it may be able to sell the shares of
> Series A Preferred Stock only at a substantial discount, without the aid of a
> broker, and only if it is able to find a purchaser who will agree to take and
> hold the shares of Series A Preferred Stock under all of the terms and
> conditions affecting their ownership; (6) transfer of the shares of Series A
> Preferred Stock requires consent of NRD as provided in the voting agreement
> described in paragraph 7(a)(4) of this Agreement; and (7) the foregoing only
> summarizes certain considerations with respect to the legal matters affecting
> the transferability of the shares of Series A Preferred Stock.
> 
>                   (c)         Adequate Access to Information.   IMN
> acknowledges that it has been advised by financial and legal advisors of its
> own choosing; that IMN has had access to and has carefully reviewed the
> information that is contained in Teltronic’s reports, schedules and other
> filings under the United States Securities Exchange Act of 1934.
> 
>                   (d)         Covenants Regarding Restrictions.   IMN agrees
> that:
> 
>                            (1)         IMN will not, directly or indirectly,
> offer or sell, pledge, transfer or otherwise dispose of all or any portion of
> the shares of Series A Preferred Stock or solicit any offer to buy, purchase
> or otherwise acquire or make a pledge of all or any portion of
> 
> 6
> 
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> 
> the shares of Series A Preferred Stock, except in the manner and to the extent
> described (a) in a registration statement in effect under the Act covering the
> shares of Series A Preferred Stock and as to which a prospectus meeting the
> requirements of the Act is available for delivery, or in the opinion of
> reputable counsel for IMN, which opinion is in form and substance satisfactory
> to counsel of Teltronics, to the effect such proposed offer, sale, pledge,
> transfer or other disposition of the shares of Series A Preferred Stock may be
> made without such registration and availability of a prospectus meeting the
> requirements of the Act, and (b) only with the consent of NRD as provided in
> the voting agreement described in paragraph 7(a)(4) of this Agreement.
> 
>                            (2)         The certificates representing the
> shares of Series A Preferred Stock will bear a legend, referring to the above
> transfer restrictions, to the effect that the shares of Series A Preferred
> Stock have not been registered under the Act, that no transfer of the shares
> of Series A Preferred Stock may be made unless the shares of Series A
> Preferred Stock are registered under the Act or an exemption from such
> registration is available as required by the Act.
> 
>                   (e)         Illiquidity.   IMN understands that there is no
> public market for the Series A Preferred, that Teltronics has only a limited
> public market for its Common Stock, that it may not be able to maintain, and
> that therefore IMN may never be able to dispose of the Series A Preferred
> Stock, even if converted into Common Stock of Teltronics.
> 
>          7.         Conditions Precedent to the Closing.
> 
>                   (a)         Obligation of NRD to Close.    The obligation of
> NRD to consummate the Exchange on the Closing Date shall be subject to the
> satisfaction or the written waiver by NRD of the following conditions on or
> prior to the Closing Date:
> 
> 7
> 
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> 
>                            (1)         Representations and Warranties;
> Compliance with Agreement.   The representations and warranties of IMN set
> forth in this Agreement shall be true and correct in all material respects as
> of the date of this Agreement and as of the Closing Date as though made on and
> as of the Closing Date, and IMN shall have performed all covenants and
> agreements to be performed by it under this Agreement and otherwise on or
> prior to the Closing Date, and IMN shall have delivered to NRD a certificate
> to such effect dated the Closing Date signed by IMN’s chief executive officer.
> 
>                            (2)         Litigation Affecting the Closing.    On
> the Closing Date, no proceeding shall be pending or threatened before any
> court or governmental agency in which it is sought to restrain or prohibit or
> to obtain damages or other relief respecting this Agreement or the
> consummation of the transactions contemplated hereby, and no investigation
> that might eventuate in any such suit, action or proceeding shall be pending
> or threatened.
> 
>                            (3)         Consummation of Teltronics/IMN
> Investment Agreement. Teltronics and IMN shall have closed and consummated all
> of the transactions contemplated by the Investment Agreement between them of
> even date herewith (“Investment Agreement”).
> 
>                            (4)         Voting Agreement.    IMN and NRD shall
> have entered into a voting agreement covering the shares of Series A Preferred
> Stock containing the terms described in Exhibit A attached to and made a part
> of this Agreement.
> 
>                   (b)         Obligation of IMN to Close.   The obligation of
> IMN to consummate the transfer of the Series A Preferred Stock on the Closing
> Date shall be subject to the satisfaction of the following conditions on or
> prior to the Closing Date:
> 
>                            (1)         Representations and Warranties;
> Compliance with Agreement.   The representations and warranties of NRD set
> forth in this Agreement shall be true
> 
> 8
> 
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> 
> and correct in all material respects as of the date of this Agreement and as
> of the Closing Date as though made on and as of the Closing Date, and NRD
> shall have performed all covenants and agreements to be performed by him under
> this Agreement on or prior to the Closing Date, and NRD shall have delivered
> to IMN a certificate to such effect dated the Closing Date and signed by NRD.
> 
>                            (2)         Litigation Affecting Closing. On the
> Closing Date, no proceeding shall be pending or threatened before any court or
> governmental agency in which it is sought to restrain or prohibit or to obtain
> damages or other relief in connection with this Agreement or the consummation
> of the transaction contemplated hereby, and no investigation that might
> eventuate in any such suit, action or proceeding shall be pending or
> threatened.
> 
>                            (3)         Amendment of Series A Preferred Stock.
>    Teltronics shall have filed with the Delaware Secretary of State the
> Amended Certificate of Designation, Preferences and Rights of Series A
> Preferred Stock of Teltronics, Inc. as described in Exhibit A to the
> Investment Agreement.
> 
>          8.         Covenants Relating to IMN.   For a minimum period of five
> (5) years from and after the Closing Date and until full and final performance
> of all of IMN’s obligations and under the Investment Agreement and the
> agreements to be executed as described in the Investment Agreement:
> 
>                   (a)         NRD will have the irrevocable right to appoint a
> Swiss person designated by him in his sole discretion, as member of IMN’s
> board of directors and all committees of IMN’s board;
> 
>                   (b)         NRD will assign his rights to vote the IMN
> Shares to a Swiss person designated by NRD, in his sole discretion; and
> 
> 9
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> 
>                   (c)         IMN assigns and conveys to NRD or an individual
> or entity he designates, in his sole discretion, all rights of IMN, howsoever
> arising, to appoint members of Teltronics’ board of directors.
> 
>          9.         Survival of Agreements and Obligations: Waivers.
> 
>                   (a)         All representations, warranties, agreements and
> covenants made by the parties in this Agreement or pursuant hereto shall
> survive the Exchange, shall remain in full force and effect and may be relied
> upon by the parties for a period of five (5) years and until full and final
> performance by IMN of all of its obligations to NRD and under the Investment
> Agreement, regardless of any investigation or examination at any time made by
> them or on their behalf, and shall not be deemed merged into any document or
> instrument executed or delivered with this Agreement.
> 
>                   (b)         The breach, default or nonperformance of any
> condition, representation, warranty, agreement or covenant contained in this
> Agreement or contemplated under this Agreement by NRD or IMN may be waived,
> but only in writing, by the other party or parties hereto; provided, however,
> that no such waiver shall serve to waive any subsequent breach, default or
> nonperformance, nor shall any such waiver serve to waive a recurrence of the
> breach, default or nonperformance so waived, nor shall the failure to enforce
> any remedy with respect to any such breach, default or nonperformance serve as
> a waiver thereof.
> 
>          10.         General.
> 
>                   (a)         Entire Agreement. This Agreement, together with
> the Schedules and Exhibits attached hereto and other documents referred to
> herein, constitutes the entire agreement and supersedes all prior agreements
> and understandings, both written and oral, among the parties hereto with
> respect to the subject matter hereof.
> 
> 10
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> 
>                   (b)         Written Amendments. Any purported termination,
> amendment, change or modification of this Agreement shall be void unless in
> writing and duly approved and executed by all the parties to this Agreement.
> 
>                   (c)         Headings. The headings of this Agreement are
> inserted for convenience and identification only, and are in no way intended
> to describe, interpret, define or limit the scope, extent or intent hereof.
> 
>                   (d)         Counsel; Expenses. NRD and IMN each acknowledge
> that they have been represented by independent legal counsel of their own
> choosing. NRD and IMN shall each bear and pay all costs and expenses incurred
> by them or it on their or its behalf as the case may be in connection with
> this Agreement, including without limitation, fees and expenses of their or
> its own financial consultants, accountants and counsel.
> 
>                   (e)         Notices. All notices or other communications
> required or permitted to be given pursuant to this Agreement shall be in
> writing and shall be considered as properly given or made if hand delivered,
> mailed from within the United States by certified or registered mail, or sent
> by prepaid telegram to the applicable address(es) appearing in the preamble to
> this Agreement, or to such other address as a party may have designated by
> like notice forwarded to the other parties hereto. All notices, except notices
> of change of address, shall be deemed given when mailed or hand delivered and
> notices of change of address shall be deemed given when received.
> 
>                   (f)         Application of Florida Law. This Agreement shall
> be governed by and construed and enforced in accordance with the internal laws
> of the State of Florida without regard to the principles of conflicts of law
> thereof. Each party hereto hereby irrevocably submits to the jurisdiction of
> the courts of the State of Florida and of the United States of America sitting
> 
> 11
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> 
> in or having jurisdiction over the City of Bradenton, for the adjudication of
> any dispute hereunder or in connection herewith or with any transaction
> contemplated hereby or discussed herein, and hereby irrevocably waives, and
> agrees not to assert in any suit, action or proceeding, any claim that it is
> not personally subject to the jurisdiction of any such court, that the venue
> thereof may not be appropriate, that such suit, action or proceeding is
> improper or that this Agreement or any of the documents referred to in this
> Agreement may not be enforced in or by said courts, and each party hereto
> irrevocably agrees that all claims with respect to such suit, action or
> proceeding shall be heard and determined in such a Florida state or federal
> court. Each party hereby irrevocably waives personal service of process and
> consents to process being served in any such suit, action or proceeding by
> mailing a copy thereof to such party in the manner provided in paragraph 9(e)
> and agrees that such service shall constitute good and sufficient service of
> process and notice thereof. Nothing contained herein shall be deemed to limit
> in any way any right to serve process in any other manner permitted by law.
> 
>                   (g)         Binding Agreement; Non-Assignability. This
> Agreement shall be binding upon and inure to the benefit of the personal
> representatives, heirs, devisees, successors and assigns of IMN and NRD, as
> the case may be, but none of the rights or obligations attaching to any party
> shall be assignable.
> 
>                   (h)         Counterparts. This Agreement may be executed in
> any number of counterparts, each of which shall be deemed an original, but all
> of which together shall constitute one and the same instrument.
> 
> 12
> 
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> 
>         IN WITNESS WHEREOF, the parties hereto have executed this Agreement
> the day and year first above written.
> 
>   International Media Network AG
> 
> 
>  
> 
> By:  /s/ Patrick Grotto
> 
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> 
>      Patrick Grotto, Chairman & Chief
>        Executive Officer
> 
> 
>  
> 
>  
> 
> 
>  
> 
> /s/ Norman R. Dobiesz
> 
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> 
> Norman R. Dobiesz
> 
> 13
> 
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> 
> EXHIBIT A
> 
> VOTING AGREEMENT
> 
> 1.  
> 
> Parties. NRD or his designee and IMN.
> 
> 
> 2.  
> 
> Custody of Shares. The shares of Series A Preferred Stock will be held by an
> Escrow Agent designated by NRD.
> 
> 
> 3.  
> 
> Voting. NRD or his designee shall have the exclusive, irrevocable right to
> vote the shares of Series A Preferred Stock during the term of the Voting
> Agreement to be further effected by an irrevocable proxy.
> 
> 
> 4.  
> 
> Term. A minimum period of five (5) years commencing upon the Closing and
> terminating after complete and final performance by IMN of all of its
> obligations and under the Investment Agreement.
> 
> 
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