Document:

Exhibit 10.7

 

THIS NOTE AND THE COMMON
STOCK ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER (THE “1933 ACT”)

 

US $47,250.00 

 

POSITIVEID CORP

12% CONVERTIBLE REDEEMABLE NOTE

DUE AUGUST 11, 2018

BACK END NOTE

 

FOR VALUE RECEIVED,
PositiveID Corp. (the “Company”) promises to pay to the order of APG CAPITAL HOLDINGS, LLC and its authorized successors
and Permitted Assigns, defined below, (“Holder”), the aggregate principal face amount of Forty Seven Thousand
Two Hundred Fifty Dollars exactly (U.S. $47,250.00) on August 11, 2018 (“Maturity Date”) and to pay interest
on the principal amount outstanding hereunder at the rate of 12% per annum commencing on August 11, 2017. The Company acknowledges
this Note was issued with a $3,000 original issue discount (OID) and as such the purchase price was $44,250. The interest will
be paid to the Holder in whose name this Note is registered on the records of the Company regarding registration and transfers
of this Note. The principal of, and interest on, this Note are payable at 300 Cadman Plaza West, 12th Floor, Brooklyn, NY 11201,
initially, and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof from time
to time. The Company will pay each interest payment and the outstanding principal due upon this Note before or on the Maturity
Date, less any amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer addressed
to such Holder at the last address appearing on the records of the Company. The forwarding of such check or wire transfer shall
constitute a payment of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this Note
to the extent of the sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined below)
pursuant to paragraph 4(b) herein. Permitted Assigns means any Holder assignment, transfer or sale of all or a portion of this
Note accompanied by an Opinion of Counsel as provided for in Section 2(f) of the Securities Purchase Agreement.

 

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This Note is subject
to the following additional provisions:

 

1. This Note is exchangeable
for an equal aggregate principal amount of Notes of different authorized denominations, as requested by the Holder surrendering
the same. No service charge will be made for such registration or transfer or exchange, except that Holder shall pay any tax or
other governmental charges payable in connection therewith. To the extent that Holder subsequently transfers, assigns, sells or
exchanges any of the multiple lesser denomination notes, Holder acknowledges that it will provide the Company with Opinions of
Counsel as provided for in Section 2(f) of the Securities Purchase Agreement.

 

2. The Company shall
be entitled to withhold from all payments any amounts required to be withheld under applicable laws.

 

3. This Note may be
transferred or exchanged only in compliance with the Securities Act of 1933, as amended (“Act”), applicable
state securities laws and Sections 2(f) of the Securities Purchase Agreement. Any attempted transfer to a non-qualifying party
shall be treated by the Company as void. Prior to due presentment for transfer of this Note, the Company and any agent of the Company
may treat the person in whose name this Note is duly registered on the Company’s records as the owner hereof for all other
purposes, whether or not this Note be overdue, and neither the Company nor any such agent shall be affected or bound by notice
to the contrary. Any Holder of this Note electing to exercise the right of conversion set forth in Section 4(a) hereof, in addition
to the requirements set forth in Section 4(a), and any prequalified prospective transferee of this Note, also is required to give
the Company written confirmation that this Note is being converted (“Notice of Conversion”) in the form annexed
hereto as Exhibit A. The date of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion
Date. All notices of conversion will be accompanied by an Opinion of Counsel.

 

4. (a) The Holder
of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then
outstanding into shares of the Company’s common stock (the “Common Stock”) at a price (“Conversion
Price”) for each share of Common Stock equal to the lower of (i) $0.03 per share, or (ii) 62.5% of the
lowest closing bid price of the Common Stock as reported on the National Quotations Bureau OTC Marketplace exchange
upon which the Company’s shares are traded or any exchange upon which the Common Stock may be traded in the future (“Exchange”),
for the twenty prior trading days including the day upon which a Notice of Conversion is received by the Company
or its transfer agent (provided such Notice of Conversion is delivered by fax or other electronic method of communication to the
Company or its transfer agent after 4 P.M. Eastern Standard or Daylight Savings Time if the Holder wishes to include the same day
closing price).. If the shares have not been delivered within 3 business days, the Notice of Conversion may be rescinded. Such
conversion shall be effectuated by the Company delivering the shares of Common Stock to the Holder within 3 business days of receipt
by the Company of the Notice of Conversion. Accrued, but unpaid interest shall be subject to conversion. No fractional shares or
scrip representing fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded to the
nearest whole share. To the extent the Conversion Price of the Company’s Common Stock closes below the par value per share,
the Company will take all steps necessary to solicit the consent of the stockholders to reduce the par value to the lowest value
possible under law. The Company agrees to honor all conversions submitted pending this increase. In the event the Company experiences
a DTC “Chill” on its shares, the conversion price shall be decreased to 52.5% instead of 62.5% while that “Chill”
is in effect. If the Company fails to maintain the share reserve at the 5x discount of the note 60 days after the issuance
of the note, the conversion discount shall be increased by 10%. In no event shall the Holder be allowed to effect a conversion
if such conversion, along with all other shares of Company Common Stock beneficially owned by the Holder and its affiliates would
exceed 9.9% of the outstanding shares of the Common Stock of the Company.

 

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(b) Interest on any
unpaid principal balance of this Note shall be paid at the rate of 12% per annum. Interest shall be paid by the Company in Common
Stock (“Interest Shares”). Holder may, at any time, send in a Notice of Conversion to the Company for Interest Shares
based on the formula provided in Section 4(a) above. The dollar amount converted into Interest Shares shall be all or a portion
of the accrued interest calculated on the unpaid principal balance of this Note to the date of such notice.

 

(c) This Note may
not be prepaid, except that if the $47,250 Rule 144 convertible redeemable note issued by the Company of even date herewith is
redeemed by the Company within 6 months of the issuance date of such Note, all obligations of the Company under this Note and all
obligations of the Holder under the Holder issued Back End Note will be automatically be deemed satisfied and this Note and the
Holder issued Back End Note will be automatically be deemed cancelled and of no further force or effect.

 

(d) Upon (i) a transfer
of all or substantially all of the assets of the Company to any person in a single transaction or series of related transactions,
(ii) a reclassification, capital reorganization (excluding an increase in authorized capital) or other change or exchange of outstanding
shares of the Common Stock, other than a forward or reverse stock split or stock dividend, or (iii) any consolidation or merger
of the Company with or into another person or entity in which the Company is not the surviving entity (other than a merger which
is effected solely to change the jurisdiction of incorporation of the Company and results in a reclassification, conversion or
exchange of outstanding shares of Common Stock solely into shares of Common Stock) (each of items (i), (ii) and (iii) being referred
to as a “Sale Event”), then, in each case, the Company shall, upon request of the Holder, redeem this Note in cash
for 150% of the principal amount, plus accrued but unpaid interest through the date of redemption, or at the election of the Holder,
such Holder may convert the unpaid principal amount of this Note (together with the amount of accrued but unpaid interest) into
shares of Common Stock immediately prior to such Sale Event at the Conversion Price.

 

(e) In case of any
Sale Event (not to include a sale of all or substantially all of the Company’s assets) in connection with which this Note
is not redeemed or converted, the Company shall cause effective provision to be made so that the Holder of this Note shall have
the right thereafter, by converting this Note, to purchase or convert this Note into the kind and number of shares of stock or
other securities or property (including cash) receivable upon such reclassification, capital reorganization or other change, consolidation
or merger by a holder of the number of shares of Common Stock that could have been purchased upon exercise of the Note and at the
same Conversion Price, as defined in this Note, immediately prior to such Sale Event. The foregoing provisions shall similarly
apply to successive Sale Events. If the consideration received by the holders of Common Stock is other than cash, the value shall
be as determined by the Board of Directors of the Company or successor person or entity acting in good faith.

 

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5. No provision of
this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and
interest on, this Note at the time, place, and rate, and in the form, herein prescribed.

 

6. The Company hereby
expressly waives demand and presentment for payment, notice of non-payment, protest, notice of protest, notice of dishonor, notice
of acceleration or intent to accelerate, and diligence in taking any action to collect amounts called for hereunder and shall be
directly and primarily liable for the payment of all sums owing and to be owing hereto.

 

7. The Company agrees
to pay all costs and expenses, including reasonable attorneys’ fees and expenses, which may be incurred by the Holder in
collecting any amount due under this Note.

 

8. If one or more
of the following described “Events of Default” shall occur:

 

(a) The Company shall
default in the payment of principal or interest on this Note or any other note issued to the Holder by the Company; or

 

(b) Any of the representations
or warranties made by the Company herein or in any certificate or financial or other written statements heretofore or hereafter
furnished by or on behalf of the Company in connection with the execution and delivery of this Note, or the Securities Purchase
Agreement under which this note was issued shall be false or misleading in any respect; or

 

(c) The Company shall
fail to perform or observe, in any respect, any covenant, term, provision, condition, agreement or obligation of the Company under
this Note or any other note issued to the Holder; or

 

(d) The Company shall
(1) become insolvent (which does not include a “going concern opinion); (2) admit in writing its inability to pay its debts
generally as they mature; (3) make an assignment for the benefit of creditors or commence proceedings for its dissolution; (4)
apply for or consent to the appointment of a trustee, liquidator or receiver for its or for a substantial part of its property
or business; (5) file a petition for bankruptcy relief, consent to the filing of such petition or have filed against it an involuntary
petition for bankruptcy relief, all under federal or state laws as applicable; or

 

(e) A trustee, liquidator
or receiver shall be appointed for the Company or for a substantial part of its property or business without its consent and shall
not be discharged within sixty (60) days after such appointment; or

 

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(f) Any governmental
agency or any court of competent jurisdiction at the instance of any governmental agency shall assume custody or control of the
whole or any substantial portion of the properties or assets of the Company; or

 

(g) One or more money
judgments, writs or warrants of attachment, or similar process, in excess of fifty thousand dollars ($50,000) in the aggregate,
shall be entered or filed against the Company or any of its properties or other assets and shall remain unpaid, unvacated, unbonded
or unstayed for a period of fifteen (15) days or in any event later than five (5) days prior to the date of any proposed sale thereunder;
or

 

(h) Defaulted on or
breached any term of any other note of similar debt instrument into which the Company has entered and failed to cure such default
within the appropriate grace period; or

 

(i) The Company shall
have its Common Stock delisted from an exchange (including the OTC Markets exchange) or, if the Common Stock trades on an exchange,
then trading in the Common Stock shall be suspended for more than 10 consecutive days or ceases to file its 1934 act reports with
the SEC;

 

(j) If a majority
of the members of the Board of Directors of the Company on the date hereof are no longer serving as members of the Board;

 

(k) The Company shall
not deliver to the Holder the Common Stock pursuant to paragraph 4 herein without restrictive legend within 3 business days of
its receipt of a Notice of Conversion which includes an Opinion of Counsel expressing an opinion which supports the removal of
a restrictive legend; or

 

(l) The Company shall
not replenish the reserve set forth in Section 12, within 5 business days of the request of the Holder; or

 

(m) The Company’s
Common Stock has a closing bid price of less than $0.008 per share for at least 5 consecutive trading days; or

 

(n) The aggregate
dollar trading volume of the Company’s Common Stock is less than thirty fifty thousand dollars ($35,000.00) in any 5 consecutive
trading days; or

 

(o) The Company shall
cease to be “current” in its filings with the Securities and Exchange Commission; or

 

(p) The Company shall
lose the “bid” price for its stock in a market (including the OTC marketplace or other exchange)

 

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Then, or at any time thereafter, unless
cured within 5 days (except for 8(m) and 8(n) which are incurable defaults, the sole remedy of which is to allow the Holder
to cancel both this Note and the Holder Issued Note, and in each and every such case, unless such Event of Default shall have been
waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent default) at the option of the
Holder and in the Holder’s sole discretion, the Holder may consider this Note immediately due and payable, without presentment,
demand, protest or (further) notice of any kind (other than notice of acceleration), all of which are hereby expressly waived,
anything herein or in any note or other instruments contained to the contrary notwithstanding, and the Holder may immediately,
and without expiration of any period of grace, enforce any and all of the Holder’s rights and remedies provided herein or
any other rights or remedies afforded by law. Upon an Event of Default, interest shall accrue at a default interest rate of 24%
per annum or, if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law.
In the event of a breach of Section 8(k) the penalty shall be $250 per day the shares are not issued beginning on the 4th
day after the conversion notice was delivered to the Company. This penalty shall increase to $500 per day beginning on the 10th
day. The penalty for a breach of Section 8(p) shall be an increase of the outstanding principal amounts by 20%. In case of a breach
of Section 8(i), the outstanding principal due under this Note shall increase by 50%. Further, if a breach of Section 8(o) occurs
or is continuing after the 6 month anniversary of the Note, then the Holder shall be entitled to use the lowest closing bid price
during the delinquency period as a base price for the conversion. For example, if the lowest closing bid price during the delinquency
period is $0.01 per share and the conversion discount is 50% the Holder may elect to convert future conversions at $0.005 per share.
If this Note is not paid at maturity, the outstanding principal due under this Note shall increase by 10%.

 

If the Holder shall commence an action
or proceeding to enforce any provisions of this Note, including, without limitation, engaging an attorney, then if the Holder prevails
in such action, the Holder shall be reimbursed by the Company for its attorneys’ fees and other costs and expenses incurred
in the investigation, preparation and prosecution of such action or proceeding.

 

Make-Whole for Failure
to Deliver Loss. At the Holder’s election, if the Company fails for any reason to deliver to the Holder the conversion shares
by the by the 3rd business day following the delivery of a Notice of Conversion to the Company and if the Holder incurs a Failure
to Deliver Loss, then at any time the Holder may provide the Company written notice indicating the amounts payable to the Holder
in respect of the Failure to Deliver Loss and the Company must make the Holder whole as follows:

 

Failure to Deliver Loss = [(Highest
VWAP for the 30 days on or after the day of exercise) x (Number of conversion shares)]

 

The Company must pay the Failure to
Deliver Loss by cash payment, and any such cash payment must be made by the third business day from the time of the Holder’s
written notice to the Company.

 

9. In case any provision
of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid or unenforceable, such
provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent possible, and the
validity and enforceability of the remaining provisions of this Note will not in any way be affected or impaired thereby.

 

10. Neither this Note
nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed by the Company and
the Holder. This Note may not be assigned without the prior written consent of the Company.

 

11. The Company represents
that it is not a “shell” issuer and has never been a “shell” issuer or that if it previously has been a
“shell” issuer that at least 12 months have passed since the Company has reported form 10 type information indicating
it is no longer a “shell issuer. Further. The Company will instruct its counsel to either (i) write a “144” opinion
to allow for salability of the conversion shares or (ii) accept such opinion from Holder’s counsel.

 

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12. Prior to cash
funding of this Note, The Company will issue irrevocable transfer agent instructions reserving 3x the number of shares of Common
Stock necessary to allow the holder to convert this note based on the discounted conversion price set forth in Section 4(a) herewith.
Upon full conversion of this Note, the reserve representing this Note shall be cancelled. The Company will pay all transfer agent
costs associated with issuing and delivering the shares. If such amounts are to be paid by the Holder, it may deduct such amounts
from the Conversion Price. Conversion Notices may be sent to the Company or its transfer agent via electric mail. The Company will
instruct its transfer agent to provide the outstanding share information to the Holder in connection with its conversions.

 

13. The Company will
give the Holder direct notice of any corporate actions, including but not limited to name changes, stock splits, recapitalizations
etc. This notice shall be given to the Holder as soon as possible under law.

 

14. If it shall be
found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable
provision shall automatically be revised to equal the maximum rate of interest or other amount deemed interest permitted under
applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to claim or take advantage
of any law that would prohibit or forgive the Company from paying all or a portion of the principal or interest on this Note.

 

15. This Note shall
be governed by and construed in accordance with the laws of New York applicable to contracts made and wholly to be performed within
the State of New York and shall be binding upon the successors and assigns of each party hereto. The Holder and the Company hereby
mutually waive trial by jury and consent to exclusive jurisdiction and venue in the courts of the State of New York or in the Federal
courts sitting in the county or city of New York. This Agreement may be executed in counterparts, and the facsimile transmission
of an executed counterpart to this Agreement shall be effective as an original.

 

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IN WITNESS WHEREOF,
the Company has caused this Note to be duly executed by an officer thereunto duly authorized.

 
 

	Dated: 	 	 	 
	 	 	 	 
	 	 	POSITIVEID CORP
	 	 	 	 
	 	 	By:	 
	 	 	Title:	 

 

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EXHIBIT
A

 

NOTICE
OF CONVERSION

 

(To
be Executed by the Registered Holder in order to Convert the Note)

 

The
undersigned hereby irrevocably elects to convert $___________ of the above Note into _________ Shares of Common Stock of PositiveID
Corp. (“Shares”) according to the conditions set forth in such Note, as of the date written below.

 

If
Shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer and other taxes
and charges payable with respect thereto.

 

Date
of Conversion: ____________________________________________________________

Applicable
Conversion Price: _____________________________________________________

Signature:
___________________________________________________________________

[Print
Name of Holder and Title of Signer]

Address:
____________________________________________________________________

                ____________________________________________________________________

 

SSN
or EIN: __________________________________________________________________

Shares
are to be registered in the following name: ______________________________________

 

Name:
______________________________________________________________________

Address:____________________________________________________________________

Tel:
________________________________________________________________________

Fax:
________________________________________________________________________

SSN
or EIN: __________________________________________________________________

 

Shares
are to be sent or delivered to the following account:

 

Account
Name:________________________________________________________________

Address:
____________________________________________________________________

 

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	 9Exhibit
10.8

 

THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS
OF CERTAIN STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD
EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. LENDERS
SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE
ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT
ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

APG
CAPITAL HOLDINGS, LLC

COLLATERALIZED
SECURED PROMISSORY NOTE

 

	$44,250.00	Brooklyn, NY

August
11, 2017

 

	1.
    	Principal
    and Interest

 

FOR
VALUE RECEIVED, APG CAPITAL HOLDINGS, LLC, a New York Limited Liability Company (the “Company”) hereby absolutely
and unconditionally promises to pay to PositiveID Corp. (the “Lender”), or order, the principal amount of Forty Four
Thousand Two Hundred Fifty Dollars ($44,250.00) no later than April 11, 2018, unless the Lender does not meet the “current
information requirements” required under Rule 144 of the Securities Act of 1933, as amended, in which case the Company may
declare the offsetting note issued by the Lender on the same date herewith to be in Default (as defined in that note) and cross
cancel its payment obligations under this Note as well as the Lenders payment obligations under the offsetting note. This Full
Recourse Note shall bear simple interest at the rate of 12%.

 

	2.	Repayments
    and Prepayments; Security

 

a.
All principal under this Note shall be due and payable no later than April 11, 2018, unless the Lender does not meet the “current
information requirements” required under Rule 144 of the Securities Act of 1933, as amended, in which case the Company may
declare the offsetting note issued by the Lender on the same date herewith to be in Default (as defined in that note) and cross
cancel its payment obligations under this Note as well as the Lenders payment obligations under the offsetting note.

 

b.
The Company may pay this Note at any time. This note may not be assigned by the Lender, except by operation of
law.

 

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c.
This Note shall initially be secured by the pledge of the $47,250.00 12% convertible promissory note issued to the Company by
the Lender on even date herewith (the “Lender Note”). The Company may exchange this collateral for other
collateral with an appraised value of at least $44,250.00, by providing 3 days prior written notice to the Lender. If
the Lender does not object to the substitution of collateral in that 3 day period, such substitution of collateral shall be
deemed to have been accepted by the Lender. Notwithstanding the foregoing, an exchange of collateral for $44,250.00 in
cash shall not require the approval of the Lender. Any collateral exchange shall not constitute a waiver of any defaults
under a Lender note. All collateral shall be retained by New Venture Attorneys, P.C., which shall act as the escrow agent
for the collateral for the benefit of the Lender. The Company may not effect any conversions under the Lender Note until it
has made full cash payment for the portion of the Lender Note being converted.

 

	3.	Events
    of Default; Acceleration

 

a.
The principal amount of this Note is subject to prepayment in whole or in part upon the occurrence and during the continuance
of any of the following events (each, an “Event of Default”): the initiation of any bankruptcy, insolvency,
moratorium, receivership or reorganization by or against the Company, or a general assignment of assets by the Company for
the benefit of creditors. Upon the occurrence of any Event of Default, the entire unpaid principal balance of this Note and
all of the unpaid interest accrued thereon shall be immediately due and payable. The Company may offset amounts due to the
Lender under this Note by similar amounts that may be due to the Company by the Lender resulting from breaches under the
Lender Note.

 

b.
No remedy herein conferred upon the Lender is intended to be exclusive of any other remedy and each and every remedy shall be
cumulative and in addition to every other remedy hereunder, now or hereafter existing at law or in equity or otherwise. The
Company accepts and agrees that this Note is a full recourse note and that the Holder may exercise any and all remedies
available to it under law.

 

	4.	Notices.
    

 

a.
All notices, reports and other communications required or permitted hereunder shall be in writing and may be delivered in person,
by telecopy with written confirmation, overnight delivery service or U.S. mail, in which event it may be mailed by first-class,
certified or registered, postage prepaid, addressed (i) if to a Lender, at such Lender’s address as the Lender shall have
furnished the Company in writing and (ii) if to the Company at such address as the Company shall have furnished the Lender(s)
in writing.

 

b.
Each such notice, report or other communication shall for all purposes under this Note be treated as effective or having been
given when delivered if delivered personally or, if sent by mail, at the earlier of its receipt or 72 hours after the same
has been deposited in a regularly maintained receptacle for the deposit of the United States mail, addressed and mailed as
aforesaid, or, if sent by electronic communication with confirmation, upon the delivery of electronic
communication.

 

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	5.	Miscellaneous

 

a.
Neither this Note nor any provisions hereof may be changed, waived, discharged or terminated orally, but only by a signed statement
in writing.

 

b.
No failure or delay by the Lender to exercise any right hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, power or privilege preclude any other right, power or privilege. The provisions of this Note are severable
and if any one provision hereof shall be held invalid or unenforceable in whole or in part in any jurisdiction, such invalidity
or unenforceability shall affect only such provision in such jurisdiction. This Note expresses the entire understanding of the
parties with respect to the transactions contemplated hereby. The Company and every endorser and guarantor of this Note regardless
of the time, order or place of signing hereby waives presentment, demand, protest and notice of every kind, and assents to any
extension or postponement of the time for payment or any other indulgence, to any substitution, exchange or release of collateral,
and to the addition or release of any other party or person primarily or secondarily liable.

 

c.
If Lender retains an attorney for collection of this Note, or if any suit or proceeding is brought for the recovery of all, or
any part of, or for protection of the indebtedness respected by this Note, then the Company agrees to pay all costs and expenses
of the suit or proceeding, or any appeal thereof, incurred by the Lender, including without limitation, reasonable attorneys’
fees.

 

d.
This Note shall for all purposes be governed by, and construed in accordance with the laws of the State of New York (without reference
to conflict of laws) and the exclusive venue shall be in the State and Federal courts located in State of New York.

 

e.
This Note shall be binding upon the Company’s successors and assigns, and shall inure to the benefit of the Lender’s
successors and assigns.

 

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IN
WITNESS WHEREOF, the Company has caused this Note to be executed by its duly authorized officer to take effect as of the date
first hereinabove written.

 

	 	APG
    CAPITAL HOLDINGS, LLC
	 	 	                     
	 	By:	 
	 	 	 
	 	Title	 

 

	 	APPROVED:
	 	 	 
	 	POSITIVEID
    CORP 
	 	 	                      
	 	By:	 
	 	 	 
	 	Title:	 

 

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