Document:

GSV, INC.
                                  191 Post Road
                           Westport, Connecticut 06880

                                                              September 20, 2006

Brooks Station Holdings, Inc.
c/o Cavallo Capital Corp.
660 Madison Avenue
New York, New York 10021

         Re:    Waiver of Default and Amendment of Promissory Note
                --------------------------------------------------

Dear Sirs:

               Brooks  Station  Holdings,   Inc.  ("Brooks   Station")  holds  a
          promissory  note issued by GSV,  Inc. (the  "Company")  dated July 21,
          2003, in the principal amount of $200,000 (the "Note"). The Note bears
          interest  at the  rate  of 8% per  annum  and is  secured  by a  first
          priority  security interest in all assets of the Company pursuant to a
          Security  Agreement between the Company and Brooks Station dated as of
          July 21, 2003. By agreement dated March 20, 2006, the Note was amended
          to extend its maturity  date to  September 1, 2006 (the "Old  Maturity
          Date").

               Brooks Station and the Company now wish to extend the maturity of
          the Note to March 1,  2007,  in  accordance  with the  terms set forth
          below:

               1.  Waiver of Default.  Brooks  Station  hereby  waives any claim
          against the Company or its assets  arising from the Company's  failure
          to pay the  principal  and  accrued  interest  on the  Note on the Old
          Maturity Date or thereafter through the date of this letter agreement.

               2.  Extension of Maturity  Date.  Brooks  Station and the Company
          agree that Section 1 of the Note is hereby amended to read as follows:

                    "1. The  principal  amount of this Note,  together  with any
               unpaid accrued interest thereon (except to the extent  previously
               paid), shall be due and payable on March 1, 2007."

                    3. Miscellaneous.

                    (i)  Except as herein amended, the Note shall remain in full
                         force and  effect.  This  letter  agreement  may not be
                         amended,  revised,  terminated  or waived

<PAGE>
                         except by an instrument in writing signed and delivered
                         by the party to be charged therewith.

                    (ii) This letter  agreement  shall be binding upon and inure
                         to the  benefit of the  successors  and  assigns of the
                         respective parties hereto.

                    (iii) This letter  agreement shall be construed and governed
                         by the laws of the  State of New  York,  applicable  to
                         agreements made and to be performed entirely therein.

               If you are in agreement with the foregoing, please sign below and
          return the original to the Company, keeping a copy for your files.

                                        Sincerely,

                                        GSV, INC.

                                        By: /s/ Gilad Gat
                                            -------------
                                            Name:    Gilad Gat
                                            Title:   Chief Executive Officer and
                                                     President

Acknowledged and agreed:

BROOKS STATION HOLDINGS, INC.

By:      /s/ Idan Moskovich
         ------------------
         Name:    Idan Moskovich
         Title:   President

                                      -2-ex10-1

    EXHIBIT
      10.1

    

    Summary
      of Non-Employee Director Compensation

    

    Each
      non-employee director will receive an aggregate annual retainer fee of $30,000,
      payable in four equal quarterly installments. The members of the Company’s
      Compensation Committee (the “Compensation Committee”), other than the Chairman,
      will be paid an aggregate annual retainer fee of $5,000, payable in four equal
      quarterly installments. The Chairman of the Compensation Committee, currently
      Mark Skaletsky, will receive an aggregate annual retainer fee of $10,000,
      payable in four equal quarterly installments. The members of the Company’s Audit
      Committee (the “Audit Committee”), other than the Chairman, will be paid an
      aggregate annual retainer fee of $5,000, payable in four equal quarterly
      installments. The Chairman of the Audit Committee, currently Sheldon L. Bloch,
      will receive an aggregate annual retainer fee of $10,000, payable in four equal
      quarterly installments. 

    

     

    On
      the
      first Tuesday of each November, each non-employee director will be granted
      an
      option to purchase $100,000 in value of shares of the Company’s common stock
      pursuant to the Company’s Amended and Restated 2000 Stock Plan. These options
      will vest in full on the date of grant, have an exercise price equal to the
      fair
      market value of a share of the Company’s common stock as of the date of grant,
      and have a ten year term. The actual number of shares granted will be determined
      using a Black-Scholes option pricing model identical to that used by the Company
      for purposes of preparing its financial statements. In lieu of the foregoing
      annual grant for the first year of service on the Board, each newly-elected
      non-employee director will be granted an option to purchase $250,000 in value
      of
      shares of the Company’s common stock pursuant to the Company’s Amended and
      Restated 2000 Stock Plan on the date such director is elected to the Board.
      These options will vest in four equal annual installments beginning on the
      first
      anniversary of the date of grant, have an exercise price equal to the fair
      market value of a share of the Company’s common stock as of the date of grant,
      and have a ten-year term. The actual number of shares granted will be determined
      using a Black-Scholes option pricing model identical to that used by the Company
      for purposes of preparing its financial statements.Exhibit 10.1

JOINDER AND CLARIFICATION AGREEMENT

This Joinder and Clarification Agreement, dated as of November 7, 2006, relates to the Securities Purchase Agreement, dated as of August 8, 2006, as amended on September 28, 2006 (as amended, the “Agreement”), by and among Protocall Technologies Incorporated, a Nevada corporation, with its headquarters located at 47 Mall Drive, Commack, New York 11725, and each of the Buyers set forth in the Agreement, and the other documents and instruments entered into in connection therewith (collectively, the “Transaction Documents”).  Unless otherwise defined herein, capitalized terms used herein shall be as defined in the Agreement.

1.             The undersigned parties hereby agree that, as of the date hereof, each of Platinum Partners Long Term Growth Fund V (“Platinum”) and Monarch Capital Fund Ltd. (“Monarch”) shall be deemed to be a Buyer under the Agreement and shall have all of the rights and obligations of the other Buyers pursuant to the Agreement and each of the other Transaction Documents.  Specifically, as of the date hereof, Platinum and Monarch shall each be deemed to be (a) an Initial Investor (as defined in the Registration Rights Agreement dated as of August 8, 2006, as amended on the date hereof) and (b) a Secured Party (as defined in the Security Agreement and the Intellectual Property Security Agreement, each dated as of August 8, 2006).

2.             On the date hereof, Platinum and Monarch will each purchase a Note in the aggregate principal amount of $250,000 and Warrants to purchase an aggregate of 2,884,615 shares of Common Stock, in the form attached hereto as Exhibit A and Exhibit B, respectively.  The closing of such purchase of Notes and Warrants shall be considered a “Closing” under the Agreement.

 

 

 

3.             The parties hereto acknowledge that, notwithstanding anything to the contrary in Section 4(l) the Agreement, as of the date hereof, the Buyers are no longer obligated to fund any additional amounts pursuant to the Agreement.

4.             For purposes of clarification, the reference to “Fixed Conversion Price” in Section 1.6(d) of the Notes issued to the Buyers prior to the date hereof shall be deemed to read “Variable Conversion Price.”

5.             For purposes of clarification, the reference to “Average Daily Price” in Section 5.2 of the Notes issued to the Buyers prior to the date hereof shall be deemed to read “Trading Price.”

6.             Promptly upon the closing of the investment by Platinum and Monarch pursuant hereto, the Company will reimburse counsel to Platinum in an amount equal to $1,500, payable by check or wire transfer as directed by such counsel.  

7.             All other provisions of the Agreement and the other Transaction Documents shall remain in full force and effect.

 

[Signature Pages Follow]

 

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ACCEPTED AND AGREED:

PROTOCALL TECHNOLOGIES INCORPORATED

By: /s/ Bruce Newman                                          
                  

	
             
 	
            Bruce Newman
 	
             

	
             
 	
            Chief Executive Officer
 

 

 

AJW PARTNERS, LLC

By:  SMS Group, LLC

By: /s/ Corey S. Ribotsky                                          
              

	
             
 	
            Corey S. Ribotsky
 
	
             
 	
            Manager
 	
             

 

 

AJW OFFSHORE, LTD.

By:  First Street Manager II, LLC

By: /s/ Corey S. Ribotsky                                          
              

	
             
 	
            Corey S. Ribotsky
 
	
             
 	
            Manager
 	
             

 

 

AJW QUALIFIED PARTNERS, LLC

By:  AJW Manager, LLC

By:/s/ Corey S. Ribotsky                                          
                                      

	
             
 	
            Corey S. Ribotsky
 
	
             
 	
            Manager
 	
             

 

 

NEW MILLENNIUM CAPITAL

PARTNERS II, LLC

By:  First Street Manager II, LLC

By: /s/ Corey S. Ribotsky                                          
              

	
             
 	
            Corey S. Ribotsky
 
	
             
 	
            Manager
 	
             

 

 

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HARBORVIEW MASTER FUND, LP

By: /s/ Jonno Elliot                                          
                        

	
             
 	
            Name:
 	
            Jonno Elliot
 
	
             
 	
            Title:
 	
            Manager
 	
             

 

By: /s/ Peter Cooper                                          
                      

	
             
 	
            Name:
 	
            Peter Cooper
 
	
             
 	
            Title:
 	
            Manager
 	
             

 

 

PLATINUM PARTNERS LONG TERM GROWTH FUND V

 

By: /s/ Mark Nordlicht                                          
                  

	
             
 	
            Name:
 	
            Mark Nordlicht
 	
             

	
             
 	
            Title:
 	
            General Manager
 

 

 

MONARCH CAPITAL FUND LTD.

By: /s/ Jonno Elliot                                          
                        

	
             
 	
            Name:
 	
            Jonno Elliot
 
	
             
 	
            Title:
 	
            Manager
 	
             

 

By: /s/ Peter Cooper                                          
                      

	
             
 	
            Name:
 	
            Peter Cooper
 
	
             
 	
            Title:
 	
            Manager
 	
             

 

 

 

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