Document:

Exhibit
      10.27

                Amendment
      to Credit Agreement

              

      

    

    

    This
agreement is dated as of December 21, 2009, by and between MACE SECURITY
INTERNATIONAL, INC. (the "Borrower") and JPMorgan Chase Bank, N.A. (together
with its successors and assigns the "Bank"). The provisions of this
agreement are effective on the date that this agreement has been executed by all
of the signers and delivered to the Bank (the "Effective Date").

    

    WHEREAS, the Borrower and the
Bank entered into a credit agreement dated October 31, 2006, as amended (if
applicable) (the "Credit
Agreement"); and

    

    WHEREAS, the Borrower has
requested and the Bank has agreed to amend the Credit Agreement as set forth in
this agreement;

    

    NOW, THEREFORE, in mutual
consideration of the agreements contained herein and for other good and valuable
consideration, the parties agree as follows:

    

    
      	
              1.

            	
              DEFINED TERMS.
      Capitalized terms used in this agreement shall have the same meanings as
      in the Credit Agreement, unless otherwise defined in this
      agreement.

            

    

    

    
      	
              2.

            	
              MODIFICATION OF CREDIT
      AGREEMENT. The Credit Agreement is hereby amended as
      follows:

            

    

    

    
      	
               
      

            	
              2.1

            	
              From
      and after the Effective Date, Section 5.2 N of the Credit Agreement
      captioned “Liquidity” is hereby
      amended and restated to read as
follows:

            

    

    

    N.    Liquidity.
Permit at any time its total of unencumbered cash and marketable securities to
be less than $1,500,000.00.

    

    
      	
              3.

            	
              RATIFICATION. The
      Borrower ratifies and reaffirms the Credit Agreement and the Credit
      Agreement shall remain in full force and effect as modified by this
      agreement.

            

    

    

    
      	
              4.

            	
              BORROWER REPRESENTATIONS AND
      WARRANTIES. The Borrower represents and warrants that (a) the
      representations and warranties contained in the Credit Agreement are true
      and correct in all material respects as of the date of this agreement, (b)
      no condition, event, act or omission which could constitute a default or
      an event of default under the Credit Agreement, as modified by this
      agreement, or any other Related Document exists, and (c) no condition,
      event, act or omission has occurred and is continuing that with the giving
      of notice, or the passage of time or both, would constitute a default or
      an event of default under the Credit Agreement, as modified by this
      agreement, or any other Related
Document.

            

    

    

    
      	
              5.

            	
              FEES AND EXPENSES. The
      Borrower agrees to pay all fees and out-of-pocket disbursements incurred
      by the Bank in connection with this agreement, including legal fees
      incurred by the Bank in the preparation, consummation, administration and
      enforcement of this agreement.

            

    

    

    
      	
              6.

            	
              EXECUTION AND DELIVERY.
      This agreement shall become effective only after it is fully executed by
      the Borrower and the Bank.

            

    

    

    
      	
              7.

            	
              ACKNOWLEDGEMENTS OF BORROWER /
      RELEASE. The Borrower acknowledges that as of the date of this
      agreement it has no offsets with respect to all amounts owed by the
      Borrower to the Bank arising under or related to the Credit Agreement, as
      modified by this agreement, or any other Related Document on or prior to
      the date of this agreement. The Borrower fully, finally and forever
      releases and discharges the Bank, its successors and assigns and their
      respective directors, officers, employees, agents and representatives
      (each a "Bank
      Party") from any and all claims, causes of action, debts, demands
      and liabilities, of whatever kind or nature, in law or in equity, of the
      Borrower, whether now known or unknown to the Borrower, which may have
      arisen in connection with the Credit Agreement or the actions or omissions
      of any Bank Party related to the Credit Agreement on or prior to the date
      hereof. ("Claims"); provided,
      however, that the foregoing RELEASE SHALL INCLUDE ALL
      CLAIMS ARISING OUT OF THE NEGLIGENCE OF ANY BANK PARTY, but not the
      gross negligence or willful misconduct of any Bank Party. The Borrower
      acknowledges and agrees that this agreement is limited to the terms
      outlined above, and shall not be construed as an agreement to change any
      other terms or provisions of the Credit Agreement. This agreement shall
      not establish a course of dealing or be construed as evidence of any
      willingness on the Bank's part to grant other or future agreements, should
      any be requested.

            

    

    

    
      	
              8.

            	
              INTEGRATION, ENTIRE AGREEMENT,
      CHANGE, DISCHARGE, TERMINATION, OR WAIVER. The Credit Agreement, as
      modified by this agreement, and the other Related Documents contain the
      complete understanding and agreement of the Borrower and the Bank in
      respect of the Credit Facilities and supersede all prior understandings
      and negotiations. No provision of the Credit Agreement, as modified by
      this agreement, or the other Related Documents, may be changed,
      discharged, supplemented, terminated, or waived except in a writing signed
      by the party against whom it is being
enforced.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              9.

            	
              Governing Law and Venue.
      This agreement shall be governed by and construed in accordance with the
      laws of the State of Texas (without giving effect to its laws of
      conflicts). The Borrower agrees that any legal action or proceeding with
      respect to any of its obligations under this agreement may be brought by
      the Bank in any state or federal court located in the State of Texas, as
      the Bank in its sole discretion may elect. By the execution and delivery
      of this agreement, the Borrower submits to and accepts, for itself and in
      respect of its property, generally and unconditionally, the non-exclusive
      jurisdiction of those courts. The Borrower waives any claim that the State
      of Texas is not a convenient forum or the proper venue for any such suit,
      action or proceeding.

            

    

    

    
      	
              10.

            	
              NOT A NOVATION. This
      agreement is a modification only and not a novation. Except as expressly
      modified by this agreement, the Credit Agreement, any other Related
      Documents, and all the terms and conditions thereof, shall be and remain
      in full force and effect with the changes herein deemed to be incorporated
      therein. This agreement is to be considered attached to the Credit
      Agreement and made a part thereof. This agreement shall not release or
      affect the liability of any guarantor of any promissory note or credit
      facility executed in reference to the Credit Agreement or release any
      owner of collateral granted as security for the Credit Agreement. The
      validity, priority and enforceability of the Credit Agreement shall not be
      impaired hereby. To the extent that any provision of this agreement
      conflicts with any term or condition set forth in the Credit Agreement, or
      any other Related Documents, the provisions of this agreement shall
      supersede and control. The Bank expressly reserves all rights against all
      parties to the Credit Agreement and the other Related
      Documents.

            

    

    

    THIS
AGREEMENT REPRESENTS THE FINAL AGREEMENT OF THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OR PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.

    THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

     

    
      
        
          
            
              
                
                  
                    
                      	
                              Borrower:

                            
	 
      
	
                              MACE
      SECURITY INTERNATIONAL, INC.

                            
	 
      	 
      	 
      
	
                              By:

                            	
                              /s/Gregory
      Krzemien

                            	 
      
	 
      	
                              Gregory
      Krzemien

                            	
                              Treasurer

                            
	 
      	
                              Printed
      Name

                            	
                              Title

                            
	 
      	 
      	 
      
	
                              Date
      Signed:  

                            	
                              12/30/09

                            

                    

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  
                    
                      
                        	
                                Bank:

                              
	 
      
	
                                JPMorgan
      Chase Bank, N.A.

                              
	 
      	 
      	 
      
	
                                By:

                              	
                                /s/David
      I. Shaw

                              	 
      
	 
      	
                                David
      I. Shaw

                              	
                                Sr.
      Vice President

                              
	 
      	
                                Printed
      Name

                              	
                                Title

                              
	 
      	 
      	 
      
	
                                Date Signed: 
      

                              	
                                12/30/09

                              

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        2Exhibit
      10.28

              Line
      of Credit Note

            
	 
      	 
      
	 
      	
              $500,000.00

            
	 
      	
              Date:
      December 12, 2009

            

    

    

    Promise to Pay. On or before
December 15, 2010, for value received, Mace Security Products, Inc. (the
"Borrower") promises to pay to JPMorgan Chase Bank, N.A., whose address is 420
Throckmorton, Suite 400, Fort Worth, TX 76102 (the "Bank") or order, in lawful
money of the United States of America, the sum of Five Hundred Thousand and
00/100 Dollars ($500,000.00) or so much thereof as may be advanced and
outstanding, plus interest on the unpaid principal balance computed on the basis
of the actual number of days elapsed in a year of 360 days unless that
calculation would result in a usurious interest rate, in which case interest
will be calculated on the basis of a 365 or 366 day year, as the case may be at
the rate of 0.25% per annum (the "Applicable Margin") above the CB Floating Rate
(the interest rate of this Note on any day is referred to herein as the "Note
Rate"), and at the rate of 3.00% per annum above the Note Rate, at the Bank's option, upon the
occurrence of any default under this Note, whether or not the Bank elects to
accelerate the maturity of this Note, from the date such increased rate is
imposed by the Bank.

    

    In no
event shall the interest rate exceed the maximum rate allowed by law. Any
interest payment that would for any reason be unlawful under applicable law
shall be applied to principal.

    

    Interest
will be computed on the unpaid principal balance from the date of each
borrowing.

    

    Until
maturity, the Borrower will pay consecutive monthly installments of interest
only commencing January 15, 2010.

    

    The
Borrower shall make all payments on this Note and the other Related Documents,
without setoff, deduction, or counterclaim, to the Bank at the Bank's address
above or at such other place as the Bank may designate in writing. If any
payment of principal or interest on this Note shall become due on a day that is
not a Business Day, the payment will be made on the next succeeding Business
Day. Payments shall be allocated among principal, interest and fees at the
discretion of the Bank unless otherwise agreed or required by applicable law.
Acceptance by the Bank of any payment that is less than the payment due at that
time shall not constitute a waiver of the Bank's right to receive payment in
full at that time or any other time.

    

    Authorization for Direct Payments
(ACH Debits). To effectuate any payment due under this Note or under any
other Related Documents, the Borrower hereby authorizes the Bank to initiate
debit entries to Account Number 638331439 at the Bank and to debit the same to
such account. This authorization to initiate debit entries shall remain in full
force and effect until the Bank has received written notification of its
termination in such time and in such manner as to afford the Bank a reasonable
opportunity to act on it. The Borrower represents that the Borrower is and will
be the owner of all funds in such account. The Borrower acknowledges: (1) that
such debit entries may cause an overdraft of such account which may result in
the Bank’s refusal to honor items drawn on such account until adequate deposits
are made to such account; (2) that the Bank is under no duty or obligation to
initiate any debit entry for any purpose; and (3) that if a debit is not made
because the above-referenced account does not have a sufficient available
balance, or otherwise, the payment may be late or past due.

    

    Late Fee. Any principal or
interest which is not paid within 10 days after its due date (whether as stated,
by acceleration or otherwise) shall be subject to a late payment charge of five
percent (5.00%) of the total payment due, in addition to the payment of
interest, up to the maximum amount of One Thousand Five Hundred and 00/100
Dollars ($1,500.00) per late charge. The Borrower agrees to pay and stipulates
that five percent (5.00%) of the total payment due is a reasonable amount for a
late payment charge. The Borrower shall pay the late payment charge upon demand
by the Bank or, if billed, within the time specified.

    

    Purpose of Loan. The Borrower
acknowledges and agrees that this Note evidences a loan for a business,
commercial, agricultural or similar commercial enterprise purpose, and that no
advance shall be used for any personal, family or household purpose. The
proceeds of the loan shall be used only for the Borrower's working capital
purposes.

    

    Credit Facility. The Bank has
approved a credit facility to the Borrower in a principal amount not to exceed
the face amount of this Note. The credit facility is in the form of advances
made from time to time by the Bank to the Borrower. This Note evidences the
Borrower's obligation to repay those advances. The aggregate principal amount of
debt evidenced by this Note is the amount reflected from time to time in the
records of the Bank. Until the earliest to occur of maturity, any default, event
of default, or any event that would constitute a default or event of default but
for the giving of notice, the lapse of time or both, the Borrower may borrow,
pay down and reborrow under this Note subject to the terms of the Related
Documents.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    General Definitions. As used
in this Note, the following terms have the following respective
meanings:

    

    
      	
              1.  

            	
              "Adjusted One Month LIBOR
      Rate" means, for any day, the sum of (i) 2.50% per annum plus (ii)
      the quotient of (a) the interest rate determined by the Bank by reference
      to the Page to be the rate at approximately 11:00 a.m. London time, on
      such date or, if such date is not a Business Day, on the immediately
      preceding Business Day for dollar deposits with a maturity equal to one
      (1) month, divided by (b) one minus the Reserve Requirement (expressed as
      a decimal) applicable to dollar deposits in the London interbank market
      with a maturity equal to one (1)
month.

            

    

    

    
      	
              2.  

            	
              "Affiliate" means any
      Person which, directly or indirectly, Controls or is Controlled by or
      under common Control with, another Person, and any director or officer
      thereof. The Bank is under no circumstances to be deemed an Affiliate of
      the Borrower or any of its
Subsidiaries.

            

    

    

    
      	
              3.  

            	
              "Business Day" means (i)
      with respect to the Adjusted One Month LIBOR Rate, a day (other than a
      Saturday or Sunday) on which banks generally are open in Texas and/or New
      York for the conduct of substantially all of their commercial lending
      activities and on which dealings in United States dollars are carried on
      in the London interbank market and (ii) for all other purposes, a day
      other than a Saturday, Sunday or any other day on which national banking
      associations are authorized to be
closed.

            

    

    

    
      	
              4.  

            	
              "CB Floating Rate" means
      the Prime Rate; provided that the CB
      Floating Rate shall, on any day, not be less than the Adjusted One Month
      LIBOR Rate.  The CB Floating Rate is a variable rate and any
      change in the CB Floating Rate due to any change in the Prime Rate or the
      Adjusted One Month LIBOR Rate is effective from and including the
      effective date of such change in the Prime Rate or the Adjusted One Month
      LIBOR Rate, respectively.

            

    

    

    
      	
              5.  

            	
              "Collateral" means all
      Property, now or in the future subject to any Lien in favor of the Bank,
      securing or intending to secure, any of the
  Liabilities.

            

    

    

    
      	
              6.  

            	
              "Control" as used with
      respect to any Person, means the power to direct or cause the direction
      of, the management and policies of that Person, directly or indirectly,
      whether through the ownership of Equity Interests, by contract, or
      otherwise. "Controlling" and "Controlled" have meanings correlative
      thereto.

            

    

    

    
      	
              7.  

            	
              "Equity Interests" means
      shares of capital stock, partnership interests, membership interests in a
      limited liability company, beneficial interests in a trust or other equity
      ownership interests in a Person, and any warrants, options or other rights
      entitling the holder thereof to purchase or acquire any such equity
      interest.

            

    

    

    
      	
              8.  

            	
              "GAAP" means generally
      accepted accounting principles in effect from time to time in the United
      States of America, consistently
applied.

            

    

    

    
      	
              9.  

            	
              "Liabilities" means all
      debts, obligations, and liabilities of every kind and character of the
      Borrower, whether individual, joint and several, contingent or otherwise,
      now or hereafter existing in favor of the Bank, including without
      limitation, all liabilities, interest, costs and fees, arising under or
      from any note, open account, overdraft, credit card, lease, Rate
      Management Transaction, letter of credit application, endorsement, surety
      agreement, guaranty, acceptance, foreign exchange contract or depository
      service contract, whether payable to the Bank or to a third party and
      subsequently acquired by the Bank, any monetary obligations (including
      interest) incurred or accrued during the pendency of any bankruptcy,
      insolvency, receivership or other similar proceedings, regardless of
      whether allowed or allowable in such proceeding, and all renewals,
      extensions, modifications, consolidations, rearrangements, restatements,
      replacements or substitutions of any of the
  foregoing.

            

    

    

    
      	
              10.  

            	
              "Lien" means any
      mortgage, deed of trust, pledge, charge, encumbrance, security interest,
      collateral assignment or other lien or restriction of any
      kind.

            

    

    

    
      	
              11.  

            	
              "Obligor" means any
      Borrower, guarantor, surety, co-signer, endorser, general partner or other
      Person who may now or in the future be obligated to pay any of the
      Liabilities.

            

    

    

    
      	
              12.  

            	
              "Page" means Reuters
      Screen LIBOR01, formerly known as Page 3750 of the Moneyline Telerate
      Service (together with any successor or substitute, the "Service") or any
      successor or substitute page of the Service providing rate quotations
      comparable to those currently provided on such page of the Service, as
      determined by the Bank from time to time for purposes of providing
      quotations of interest rates applicable to dollar deposits in the London
      interbank market.

            

    

    

    
      	
              13.  

            	
              "Person" means any
      individual, corporation, partnership, limited liability company, joint
      venture, joint stock association, association, bank, business trust,
      trust, unincorporated organization, any foreign governmental authority,
      the United States of America, any state of the United States and any
      political subdivision of any of the foregoing or any other form of
      entity.

            

    

    

    
      	
              14.  

            	
              "Pledgor" means any
      Person providing Collateral.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
              15.  

            	
              "Prime Rate" means the
      rate of interest per annum announced from time to time by the Bank as its
      prime rate. The Prime Rate is a variable rate and each change in the Prime
      Rate is effective from and including the date the change is announced as
      being effective. THE PRIME RATE IS A REFERENCE RATE AND MAY NOT BE THE
      BANK’S LOWEST RATE.

            

    

    

    
      	
              16.  

            	
              "Property" means any
      interest in any kind of property or asset, whether real, personal or
      mixed, tangible or intangible.

            

    

    

    
      	
              17.  

            	
              "Rate Management
      Transaction" means any transaction (including an agreement with
      respect thereto) that is a rate swap, basis swap, forward rate
      transaction, commodity swap, commodity option, equity or equity index
      swap, equity or equity index option, bond option, interest rate option,
      foreign exchange transaction, cap transaction, floor transaction, collar
      transaction, forward transaction, currency swap transaction,
      cross-currency rate swap transaction, currency option, derivative
      transaction or any other similar transaction (including any option with
      respect to any of these transactions) or any combination thereof, whether
      linked to one or more interest rates, foreign currencies, commodity
      prices, equity prices or other financial
  measures.

            

    

    

    
      	
              18.  

            	
              "Regulation D" means
      Regulation D of the Board of Governors of the Federal Reserve System as
      from time to time in effect and any successor thereto or other regulation
      or official interpretation of said Board of Governors relating to reserve
      requirements applicable to member banks of the Federal Reserve
      System.

            

    

    

    
      	
              19.  

            	
              "Reserve Requirement"
      means the maximum aggregate reserve requirement (including all basic,
      supplemental, marginal and other reserves) which is imposed under
      Regulation D.

            

    

    

    
      	
              20.  

            	
              "Related Documents" means
      this Note, all loan agreements, credit agreements, reimbursement
      agreements, security agreements, mortgages, deeds of trust, pledge
      agreements, assignments, guaranties, and any other instrument or document
      executed in connection with this Note or in connection with any of the
      Liabilities.

            

    

    

    
      	
              21.  

            	
              "Subsidiary" means, as to
      any particular Person (the "parent"), a Person the accounts of which would
      be consolidated with those of the parent in the parent's consolidated
      financial statements if such financial statements were prepared in
      accordance with GAAP as of the date of determination, as well as any other
      Person of which fifty percent (50%) or more of the Equity Interests is at
      the time of determination directly or indirectly owned, Controlled or
      held, by the parent or by any Person or Persons Controlled by the parent,
      either alone or together with the
parent.

            

    

    

    Bank's Right of Setoff. The
Borrower grants to the Bank a security interest in the Deposits, and the Bank is
authorized to setoff and apply, all Deposits, Securities and Other Property, and
Bank Debt against any and all Liabilities. This right of setoff may be exercised
at any time and from time to time after the occurrence of any default, without
prior notice to or demand on the Borrower and regardless of whether any
Liabilities are contingent, unmatured or unliquidated. In this paragraph: (a)
the term "Deposits" means any and all accounts and deposits of the Borrower
(whether general, special, time, demand, provisional or final) at any time held
by the Bank (including all Deposits held jointly with another, but excluding any
IRA or Keogh Deposits, or any trust Deposits in which a security interest would
be prohibited by law); (b) the term "Securities and Other Property" means any
and all securities and other personal property of the Borrower in the custody,
possession or control of the Bank, JPMorgan Chase & Co. or their respective
Subsidiaries and Affiliates (other than Property held by the Bank in a fiduciary
capacity); and (c) the term "Bank Debt" means all indebtedness at any time owing
by the Bank, to or for the credit or account of the Borrower and any claim of
the Borrower (whether individual, joint and several or otherwise) against the
Bank now or hereafter existing.

    

    Representations by Borrower.
The Borrower represents and warrants that each of the following is and will
remain true and correct until the later of maturity or the date on which all
Liabilities evidenced by this Note are paid in full: (a) the execution and
delivery of this Note and the performance of the obligations it imposes do not
violate any law, conflict with any agreement by which it is bound, or require
the consent or approval of any other Person; (b) this Note is a valid and
binding agreement of the Borrower, enforceable according to its terms, except as
may be limited by bankruptcy, insolvency or other laws affecting the enforcement
of creditor’s rights generally and by general principles of equity; (c) all
balance sheets, profit and loss statements, other financial statements and
applications for credit furnished to the Bank in connection with the Liabilities
are accurate and fairly reflect the financial condition of the Persons to which
they apply on their effective dates, including contingent liabilities of every
type, which financial condition has not materially and adversely changed since
those dates; and, if the Borrower is not a natural Person: (i) it is duly
organized, validly existing and in good standing under the laws of the state
where it is organized and in good standing in each state where it is doing
business; and (ii) the execution and delivery of this Note and the performance
of the obligations it imposes (A) are within its powers and have been duly
authorized by all necessary action of its governing body, and (B) do not
contravene the terms of its articles of incorporation or organization, its
by-laws, regulations or any partnership, operating or other agreement governing
its organization and affairs.

    

    Events of
Default/Acceleration. If any of the following events occurs, this Note
shall become due immediately, without notice, at the Bank's option, and the
Borrower hereby waives notice of intent to accelerate the maturity of this Note
and notice of acceleration of this Note upon the occurrence of any of the
following events:

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
              1.  

            	
              Any
      Obligor fails to pay when due any of the Liabilities or any other debt to
      any Person, or any amount payable with respect to any of the Liabilities,
      or under this Note, any other Related Document, or any agreement or
      instrument evidencing other debt to any
Person.

            

    

    
      	
              2.  

            	
              Any
      Obligor or any Pledgor: (a) fails to observe or perform or otherwise
      violates any other term, covenant, condition or agreement of any of the
      Related Documents; (b) makes any materially incorrect or misleading
      representation, warranty, or certificate to the Bank; (c) makes any
      materially incorrect or misleading representation in any financial
      statement or other information delivered to the Bank; or (d) defaults
      under the terms of any agreement or instrument relating to any debt for
      borrowed money (other than the debt evidenced by the Related Documents)
      and the effect of such default will allow the creditor to declare the debt
      due before its stated maturity.

            

    

    
      	
              3.  

            	
              In
      the event (a) there is a default under the terms of any Related Document,
      (b) any Obligor terminates or revokes or purports to terminate or revoke
      its guaranty or any Obligor's guaranty becomes unenforceable in whole or
      in part, (c) any Obligor fails to perform promptly under its guaranty, or
      (d) any Obligor fails to comply with, or perform under any agreement, now
      or hereafter in effect, between the Obligor and the Bank, or any Affiliate
      of the Bank or their respective successors and
  assigns.

            

    

    
      	
              4.  

            	
              There
      is any loss, theft, damage, or destruction of any Collateral not covered
      by insurance.

            

    

    
      	
              5.  

            	
              Any
      event occurs that would permit the Pension Benefit Guaranty Corporation to
      terminate any employee benefit plan of any Obligor or any Subsidiary of
      any Obligor.

            

    

    
      	
              6.  

            	
              Any
      Obligor or any of its Subsidiaries or any Pledgor: (a) becomes insolvent
      or unable to pay its debts as they become due; (b) makes an assignment for
      the benefit of creditors; (c) consents to the appointment of a custodian,
      receiver, or trustee for itself or for a substantial part of its Property;
      (d) commences any proceeding under any bankruptcy, reorganization,
      liquidation, insolvency or similar laws; (e) conceals or removes any of
      its Property, with intent to hinder, delay or defraud any of its
      creditors; (f) makes or permits a transfer of any of its Property, which
      may be fraudulent under any bankruptcy, fraudulent conveyance or similar
      law; or (g) makes a transfer of any of its Property to or for the benefit
      of a creditor at a time when other creditors similarly situated have not
      been paid.

            

    

    
      	
              7.  

            	
              A
      custodian, receiver, or trustee is appointed for any Obligor or any of its
      Subsidiaries or any Pledgor or for a substantial part of their respective
      Property.

            

    

    
      	
              8.  

            	
              Any
      Obligor or any of its Subsidiaries, without the Bank's written consent:
      (a) liquidates or is dissolved; (b) merges or consolidates with any other
      Person; (c) leases, sells or otherwise conveys a material part of its
      assets or business outside the ordinary course of its business; (d)
      leases, purchases, or otherwise acquires a material part of the assets of
      any other Person, except in the ordinary course of its business; or (e)
      agrees to do any of the foregoing; provided, however, that any Subsidiary
      of an Obligor may merge or consolidate with any other Subsidiary of that
      Obligor, or with the Obligor, so long as the Obligor is the
      survivor.

            

    

    
      	
              9.  

            	
              Proceedings
      are commenced under any bankruptcy, reorganization, liquidation, or
      similar laws against any Obligor or any of its Subsidiaries or any Pledgor
      and remain undismissed for thirty (30) days after commencement; or any
      Obligor or any of its Subsidiaries or any Pledgor consents to the
      commencement of those proceedings.

            

    

    
      	
              10.  

            	
              Any
      judgment is entered against any Obligor or any of its Subsidiaries, or any
      attachment, seizure, sequestration, levy, or garnishment is issued against
      any Property of any Obligor or any of its Subsidiaries or of any Pledgor
      or any Collateral.

            

    

    
      	
              11.  

            	
              Any
      individual Obligor or Pledgor dies, or a guardian or conservator is
      appointed for any individual Obligor or Pledgor or all or any portion of
      their respective Property, or the
Collateral.

            

    

    
      	
              12.  

            	
              Any
      material adverse change occurs in: (a) the reputation, Property, financial
      condition, business, assets, affairs, prospects, liabilities, or
      operations of any Obligor or any of its Subsidiaries; (b) any Obligor's or
      Pledgor's ability to perform its obligations under the Related Documents;
      or (c) the Collateral.

            

    

    

    Remedies. If this Note is not
paid at maturity, whether by acceleration or otherwise, the Bank shall have all
of the rights and remedies provided by any law or agreement, in equity or
otherwise. The Bank is authorized to cause all or any part of the Collateral to
be transferred to or registered in its name or in the name of any other Person,
with or without designating the capacity of that nominee. Without limiting any
other available remedy, the Borrower is liable for any deficiency remaining
after disposition of any Collateral. The Borrower is liable to the Bank for all
reasonable costs and expenses of every kind incurred (or charged by internal
allocation) in connection with the negotiation, preparation, execution, filing,
recording, modification, supplementing and waiver of this Note or the other
Related Documents and the making, servicing and collection of this Note or the
other Related Documents and any other amounts owed under this Note or the other
Related Documents, including without limitation reasonable attorneys' fees and
court costs. These costs and expenses include without limitation any costs or
expenses incurred by the Bank in any bankruptcy, reorganization, insolvency or
other similar proceeding.

    

    Waivers. Each Obligor waives:
(a) to the extent not prohibited by law, all rights and benefits under any laws
or statutes regarding sureties, as may be amended; (b) any right to receive
notice of the following matters before the Bank enforces any of its rights: (i)
the Bank's acceptance of this Note, (ii) any credit that the Bank extends to the
Borrower, (iii) the Borrower's default, (iv) any demand, diligence, presentment,
dishonor and protest, or (v) any action that the Bank takes regarding the
Borrower, anyone else, any Collateral, or any of the Liabilities, that it might
be entitled to by law, under any other agreement, in equity or otherwise; (c)
any right to require the Bank to proceed against the Borrower, any other
Obligor, or any Collateral, or pursue any remedy in the Bank's power to pursue;
(d) any defense based on any claim that any endorser's or other Obligor's
obligations exceed or are more burdensome than those of the Borrower; (e) the
benefit of any statute of limitations affecting liability of any endorser or
other Obligor or the enforcement hereof; (f) any defense arising by reason of
any disability or other defense of the Borrower or by reason of the cessation
from any cause whatsoever (other than payment in full) of the obligation of the
Borrower for the Liabilities; and (g) any defense based on or arising out of any
defense that the Borrower may have to the payment or performance of the
Liabilities or any portion thereof. Each Obligor consents to any extension or
postponement of time of its payment without limit as to the number or period, to
any substitution, exchange or release of all or any part of the Collateral, to
the addition of any other Person, and to the release or discharge of, or
suspension of any rights and remedies against, any Obligor. The Bank may waive
or delay enforcing any of its rights without losing them. Any waiver affects
only the specific terms and time period stated in the waiver. No modification or
waiver of any provision of this Note is effective unless it is in writing and
signed by the Person against whom it is being enforced.

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    Cooperation. The Borrower
agrees to fully cooperate with the Bank and not to delay, impede or otherwise
interfere with the efforts of the Bank to secure payment from the Collateral
including actions, proceedings, motions, orders, agreements or other matters
relating to relief from automatic stay, abandonment of Property, use of cash
Collateral and sale of the Collateral free and clear of all Liens.

    

    Additional Waivers. To the
extent not prohibited by applicable law, the Borrower waives (a) to the extent
the Borrower is subject to the Texas Revised Partnership Act (“TRPA”) or Section
152.306 of the Texas Business Organizations Code (“BOC”), compliance by the Bank
with Section 3.05(d) of TRPA and Section 152.306(b) of BOC; and (b) if the
Liabilities are secured by an interest in real property, all rights of the
Borrower under Sections 51.003, 51.004, and 51.005 of the Texas Property Code
(as amended from time to time).

    

    Rights of Subrogation. Each
Obligor waives and agrees not to enforce any rights of subrogation, contribution
or indemnification that it may have against the Borrower, any other Obligor, or
the Collateral, until the Borrower and such Obligor have fully performed all
their obligations to the Bank, even if those obligations are not covered by this
Note.

    

    Reinstatement. The Borrower
agrees that to the extent any payment or transfer is received by the Bank in
connection with the Liabilities evidenced by this Note, and all or any part of
the payment or transfer is subsequently invalidated, declared to be fraudulent
or preferential, set aside or required to be transferred or repaid by the Bank
or transferred or paid over to a trustee, receiver or any other Person, whether
under any bankruptcy act or otherwise (any of those payments or transfers is
hereinafter referred to as a "Preferential Payment"), then this Note shall
continue to be effective or shall be reinstated, as the case may be, even if all
those Liabilities have been paid in full and whether or not the Bank is in
possession of this Note, or whether the Note has been marked paid, released or
canceled, or returned to the Borrower and, to the extent of the payment,
repayment or other transfer by the Bank, the Liabilities or part intended to be
satisfied by the Preferential Payment shall be revived and continued in full
force and effect as if the Preferential Payment had not been made.

    

    Governing Law and Venue. This
Note shall be governed by and construed in accordance with the laws of the State
of Texas (without giving effect to its laws of conflicts). The Borrower agrees
that any legal action or proceeding with respect to any of its obligations under
this Note may be brought by the Bank in any state or federal court located in
the State of Texas, as the Bank in its sole discretion may elect. By the
execution and delivery of this Note, the Borrower submits to and accepts, for
itself and in respect of its property, generally and unconditionally, the
non-exclusive jurisdiction of those courts. The Borrower waives any claim that
the State of Texas is not a convenient forum or the proper venue for any such
suit, action or proceeding.

    

    Renewal and Extension. This
Note is given in replacement, renewal and/or extension of, but not in
extinguishment of the indebtedness evidenced by, that Line of Credit Note dated
October 31, 2006 executed by the Borrower in the original principal amount of
Five Hundred Thousand and 00/100 Dollars ($500,000.00), including previous
renewals or modifications thereof, if any (the "Prior Note" and together with
all loan agreements, credit agreements, reimbursement agreements, security
agreements, mortgages, deeds of trust, pledge agreements, assignments,
guaranties, and any other instrument or document executed in connection with the
Prior Note, the "Prior Related Documents"), and is not a novation thereof. All
interest evidenced by the Prior Note shall continue to be due and payable until
paid. The Borrower fully, finally, and forever releases and discharges the Bank
and its successors, assigns, directors, officers, employees, agents, and
representatives (each a "Bank Party") from any and all causes of action, claims,
debts, demands, and liabilities, of whatever kind or nature, in law or equity,
of the Borrower, whether now known or unknown to the Borrower (i) in respect of
the Liabilities evidenced by the Prior Note and the Prior Related Documents, or
of the actions or omissions of any Bank Party in any manner related to the
Liabilities evidenced by the Prior Note or the Prior Related Documents and (ii)
arising from events occurring prior to the date of this Note ("Claims");
provided, however, that the foregoing RELEASE SHALL INCLUDE ALL CLAIMS
ARISING OUT OF THE NEGLIGENCE OF ANY BANK PARTY, but not the gross
negligence or willful misconduct of any Bank Party. If applicable, all
Collateral continues to secure the payment of this Note and the Liabilities. The
provisions of this Note are effective on December 15, 2009.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    Usury. The Bank does not
intend to charge, collect or receive any interest that would exceed the maximum
rate allowed by law. If the effect of any applicable law is to render usurious
any amount called for under this Note or the other Related Documents, or if any
amount is charged or received with respect to this Note, or if any prepayment by
the Borrower results in the payment of any interest in excess of that permitted
by law, then all excess amounts collected by the Bank shall be credited on the
principal balance of this Note (or, if this Note and all other indebtedness
arising under or pursuant to the other Related Documents shall have been paid in
full, refunded to the Borrower), and the provisions of this Note and the other
Related Documents shall immediately be deemed reformed and the amounts
thereafter collectable reduced, without the necessity of the execution of any
new document, so as to comply with the then applicable law. All sums paid, or
agreed to be paid, by the Borrower for the use, forbearance, or detention of
money under this Note or the other Related Documents shall, to the maximum
extent permitted by applicable law, be amortized, prorated, allocated and spread
throughout the full term of such indebtedness until payment in full so that the
rate or amount of interest on account of such indebtedness does not exceed the
usury ceiling from time to time in effect and applicable to such indebtedness
for so long as such indebtedness is outstanding. To the extent federal law
permits the Bank to contract for, charge or receive a greater amount of
interest, the Bank will rely on federal law instead of the Texas Finance Code.
To the extent that Chapter 303 of the Texas Finance Code is applicable to this
Note, the "weekly ceiling" specified in Chapter 303 is the applicable
ceiling.

    

    Inability to Determine Interest
Rate. If the Bank determines on any day that quotations of interest rates
for the relevant deposits referred to in the definition of Adjusted One Month
LIBOR Rate are not being provided for purposes of determining the interest rate
on any advance on any day, then each advance evidenced by this Note shall bear
interest at the Prime Rate plus the Applicable Margin until the Bank determines
that quotations of interest rates for the relevant deposits referred to in the
definition of Adjusted One Month LIBOR Rate are being provided.

    

    Miscellaneous. If more than
one Borrower executes this Note: (i) each Borrower is liable jointly and
severally for the Liabilities evidenced by this Note; (ii) the term "Borrower"
means any one or more of them; and (iii) the receipt of value by any one of them
constitutes the receipt of value by the others. This Note binds the Borrower and
its successors, and benefits the Bank, its successors and assigns. Any reference
to the Bank includes any holder of this Note. This Note is subject to that
certain Credit Agreement by and between the Borrower and the Bank, dated October
31, 2006, and all amendments, restatements and replacements thereof (the "Credit
Agreement") to which reference is hereby made for a more complete statement of
the terms and conditions under which the loan evidenced hereby is made and is to
be repaid. The terms and provisions of the Credit Agreement are hereby
incorporated and made a part hereof by this reference thereto with the same
force and effect as if set forth at length herein. No reference to the Credit
Agreement and no provisions of this Note or the Credit Agreement shall alter or
impair the absolute and unconditional obligation of the Borrower to pay the
principal and interest on this Note as herein prescribed. Capitalized terms not
otherwise defined herein shall have the meanings assigned to such terms in the
Credit Agreement. Section headings are for convenience of reference only and do
not affect the interpretation of this Note. Any notices and demands under or
related to this Note shall be in writing and delivered to the intended party at
its address stated herein, and if to the Bank, at its main office if no other
address of the Bank is specified herein, by one of the following means: (a) by
hand; (b) by a nationally recognized overnight courier service; or (c) by
certified mail, postage prepaid, with return receipt requested. Notice shall be
deemed given: (a) upon receipt if delivered by hand; (b) on the Delivery Day
after the day of deposit with a nationally recognized courier service; or (c) on
the third Delivery Day after the notice is deposited in the mail. "Delivery Day"
means a day other than a Saturday, a Sunday, or any other day on which national
banking associations are authorized to be closed. Any party may change its
address for purposes of the receipt of notices and demands by giving notice of
such change in the manner provided in this provision. This Note and the other
Related Documents embody the entire agreement between the Borrower and the Bank
regarding the terms of the loan evidenced by this Note and supercede all oral
statements and prior writings relating to that loan. No delay on the part of the
Bank in the exercise of any right or remedy waives that right or remedy. No
single or partial exercise by the Bank of any right or remedy precludes any
other future exercise of it or the exercise of any other right or remedy. No
waiver or indulgence by the Bank of any default is effective unless it is in
writing and signed by the Bank, nor shall a waiver on one occasion bar or waive
that right on any future occasion. The rights of the Bank under this Note and
the other Related Documents are in addition to other rights (including without
limitation, other rights of setoff) the Bank may have contractually, by law, in
equity or otherwise, all of which are cumulative and hereby retained by the
Bank. If any provision of this Note cannot be enforced, the remaining portions
of this Note shall continue in effect. The Borrower agrees that the Bank may
provide any information or knowledge the Bank may have about the Borrower or
about any matter relating to this Note or the Related Documents to JPMorgan
Chase & Co., or any of its Subsidiaries or Affiliates or their successors,
or to any one or more purchasers or potential purchasers of this Note or the
Related Documents. The Borrower agrees that the Bank may at any time sell,
assign or transfer one or more interests or participations in all or any part of
its rights and obligations in this Note to one or more purchasers whether or not
related to the Bank.

    

    Government Regulation. The
Borrower shall not (a) be or become subject at any time to any law, regulation,
or list of any government agency (including, without limitation, the U.S. Office
of Foreign Asset Control list) that prohibits or limits the Bank from making any
advance or extension of credit to the Borrower or from otherwise conducting
business with the Borrower, or (b) fail to provide documentary and other
evidence of the Borrower's identity as may be requested by the Bank at any time
to enable the Bank to verify the Borrower's identity or to comply with any
applicable law or regulation, including, without limitation, Section 326 of the
USA Patriot Act of 2001, 31 U.S.C. Section 5318.

    

    USA PATRIOT ACT NOTIFICATION.
The following notification is provided to the Borrower pursuant to Section 326
of the USA Patriot Act of 2001, 31 U.S.C. Section 5318:

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    IMPORTANT
INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government
fight the funding of terrorism and money laundering activities, Federal law
requires all financial institutions to obtain, verify, and record information
that identifies each Person that opens an account, including any deposit
account, treasury management account, loan, other extension of credit, or other
financial services product. What this means for the Borrower: When the Borrower
opens an account, if the Borrower is an individual, the Bank will ask for the
Borrower's name, taxpayer identification number, residential address, date of
birth, and other information that will allow the Bank to identify the Borrower,
and if the Borrower is not an individual, the Bank will ask for the Borrower's
name, taxpayer identification number, business address, and other information
that will allow the Bank to identify the Borrower. The Bank may also ask, if the
Borrower is an individual, to see the Borrower's driver's license or other
identifying documents, and if the Borrower is not an individual, to see the
Borrower's legal organizational documents or other identifying
documents.

    

    WAIVER OF SPECIAL DAMAGES. THE
BORROWER WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED
BY LAW, ANY RIGHT THE UNDERSIGNED MAY HAVE TO CLAIM OR RECOVER FROM THE BANK IN
ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL
DAMAGES.

    

    JURY WAIVER. THE BORROWER AND
THE BANK (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY
AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY
DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) BETWEEN THE BORROWER AND
THE BANK ARISING OUT OF OR IN ANY WAY RELATED TO THIS NOTE OR THE OTHER RELATED
DOCUMENTS. THIS PROVISION IS A MATERIAL INDUCEMENT TO THE BANK TO PROVIDE THE
FINANCING EVIDENCED BY THIS NOTE.

    

    THIS
NOTE AND THE OTHER RELATED DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
UBSEQUENT ORAL AGREEMENTS OF THE PARTIES.THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES.

    

    

    
      	 
      	 
      	 
      	
              Borrower:

            
	 
      	 
      	 
      	 
      
	
              Address:

            	
              240
      Gibraltar Road Suite 220

              Horsham,
      PA 19044

            	 
      	
              Mace
      Security Products, Inc.

            
	 
      	 
      	 
      	
              By:

            	
              /s/Gregory
      Krzemien

            
	 
      	 
      	 
      	 
      	
              Gregory
      Krzemien

            	
              Treasurer

            
	 
      	 
      	 
      	 
      	
              Printed
      Name

            	
              Title

            
	 
      	 
      
	 
      	
              Date
      Signed:

            	
                 12/30/09

            

    

    

    The Bank
is executing this Note for the purpose of acknowledging and agreeing to the Jury
Waiver, the notice given under §26.02 of the Texas Business and Commerce Code
and to comply with the waiver requirements of TRPA and BOC, and the Bank’s
failure to execute or authenticate this Note will not invalidate this
Note.

    

    
      
        	
                Bank:

              
	 
      
	
                JPMorgan
      Chase Bank, N.A.

              
	 
      
	
                By:

              	
                /s/
      David I. Shaw

              
	 
      	
                David
      I. Shaw

              	
                Senior
      Vice President

              
	 
      	
                Printed
      Name

              	
                Title

              

      

    

     

    
      
         

      

      
        7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]