Document:

EXHIBIT 10.19
                                                                   -------------

THIS DEBENTURE, AND THE SECURITIES INTO WHICH IT IS CONVERTIBLE (COLLECTIVELY,
THE "SECURITIES"), HAVE NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION (THE "COMMISSION") OR THE SECURITIES COMMISSION OF ANY
STATE. THE SECURITIES ARE BEING OFFERED PURSUANT TO A SAFE HARBOR FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"). THE
SECURITIES ARE "RESTRICTED" AND MAY NOT BE OFFERED OR SOLD UNLESS THE SECURITIES
ARE REGISTERED UNDER THE ACT PURSUANT TO AVAILABLE EXEMPTIONS FROM THE
REGISTRATION REQUIREMENTS OF THE ACT AND THE COMPANY WILL BE PROVIDED WITH
OPINION OF COUNSEL OR OTHER SUCH INFORMATION AS IT MAY REASONABLY REQUIRE TO
CONFIRM THAT SUCH EXEMPTIONS ARE AVAILABLE. FURTHER HEDGING TRANSACTIONS
INVOLVING THE SECURITIES MAY NOT BE MADE EXCEPT IN COMPLIANCE WITH THE ACT.

                                    DEBENTURE

                          THOMAS PHARMACEUTICALS, LTD.

                        10% SECURED CONVERTIBLE DEBENTURE

                              DUE FEBRUARY 6, 2014

NO. 4A                                                                   $25,000

         This Debenture is issued by Thomas Pharmaceuticals, Ltd. (f/k/a iVoice
Acquisition Corp.), a New Jersey corporation with its principal office located
at 750 Route 34, Matawan, NJ, 07747 (the "Company"), to iVoice, Inc., a New
Jersey Corporation, with its principal office at 750 Route 34, Matawan, NJ,
07747 (together with its permitted successors and assigns, the "Holder")
pursuant to exemptions from registration under the Act.

                                   ARTICLE I.

         SECTION 1.01 PRINCIPAL AND INTEREST. For value received, on February 7,
2007, the Company hereby promises to pay to the order of the Holder in lawful
money of the United States of America and in immediately available funds the
principal sum of Twenty-five Thousand Dollars (US $25,000) on February 6, 2014
(the "Maturity Date"), together with interest, compounded quarterly, on the
unpaid principal of this Debenture at the rate of ten percent (10%) per year
(computed on the basis of a 365-day year and the actual days elapsed) from the
date of this Debenture until paid.

         SECTION 1.02 OPTIONAL CONVERSION. The Holder is entitled, at its
option, to convert, and sell on the same day, at any time and from time to time,
until payment in full of this Debenture, all or any part of the principal amount
of the Debenture, plus accrued interest, into

<PAGE>

shares (the "Conversion Shares") of the Company's common stock, no par value per
share ("Common Stock"), at the price per share (the "Conversion Price") equal to
an amount equal to eighty percent (80%) of the lowest closing bid price of the
Common Stock for the five (5) trading days immediately preceding the Conversion
Date (as defined herein). This is the "Conversion Price".

         As used herein, "Principal Market" shall mean The National Association
of Securities Dealers Inc.'s Over-The-Counter Bulletin Board, Nasdaq SmallCap
Market, or American Stock Exchange. If the Common Stock is not traded on a
Principal Market, the Closing Bid Price shall mean, the reported closing bid
price for the Common Stock, as furnished by the National Association of
Securities Dealers, Inc., for the applicable periods. No fraction of 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
convert this Debenture, the Holder hereof shall deliver written notice thereof,
substantially in the form of Exhibit "A" to this Debenture, with appropriate
insertions (the "Conversion Notice"), to the Company at its address as set forth
herein. The date upon which the conversion shall be effective (the "Conversion
Date") shall be deemed to be the date set forth in the Conversion Notice.

         SECTION 1.03 RESERVATION OF COMMON STOCK. The Company shall reserve and
keep available out of its authorized but unissued shares of Common Stock, solely
for the purpose of effecting the conversion of this Debenture, such number of
shares of Common Stock as shall from time to time be sufficient to effect such
conversion, based upon the Conversion Price; provided, however, until such time
as the Conversion Price has been fixed, but solely for the purposes of this
Section 1.03 only, the Conversion Price shall be deemed to be $0.002 or, if
there is a trading market for the Common Stock, the lowest bid price for the
preceding thirty (30) days. If at any time the Company does not have a
sufficient number of Conversion Shares authorized and available, then the
Company shall call and hold a special meeting of its stockholders within sixty
(60) days of that time for the sole purpose of increasing the number of
authorized shares of Common Stock.

         Section 1.04 RIGHT OF REDEMPTION. The Company at its option shall have
the right to redeem, with thirty (30) business days advance written notice (the
"Redemption Notice"), a portion of or all of the outstanding principal sum under
this Debenture. The redemption price shall be equal to one hundred twenty-five
percent (125%) multiplied by the portion of the principal sum being redeemed,
plus any accrued and unpaid interest. Once the Company has issued to the Holder
a Redemption Notice, the Holder may continue to convert this Debenture, in
accordance with Section 1.02 hereof, for the thirty (30) day business period
after the Holder receives the Redemption Notice.

         Section 1.05 REGISTRATION RIGHTS. The Company is obligated to register
the resale of the Conversion Shares under the Securities Act of 1933, as
amended, pursuant to the terms of a Shareholders Agreement, between the Company
and the Holder of even date herewith (the "Shareholders Agreement").

         Section 1.06 GUARANTY. Upon the occurrence of an Event of Default (as
defined in Article III hereto), this Convertible Debenture shall be immediately
due and payable.

                                        2
<PAGE>

         Section 1.07 INTEREST PAYMENTS. The interest so payable will be paid at
the time of maturity or conversion to the person or company in whose name this
Debenture is registered. At the time such interest is payable, the Company, in
its sole discretion, may elect to pay interest in cash (via wire transfer or
certified funds) or in the form of Common Stock. In the event of default, as
described in Article III hereunder, the Holder may elect that the interest be
paid in cash (via wire transfer or certified funds) or in the form of Common
Stock. If paid in the form of Common Stock, the amount of stock to be issued
will be calculated as follows: the value of the stock shall be the closing bid
price on: (i) the date the interest payment is due; or (ii) if the interest
payment is not made when due, the date the interest payment is made. A number of
shares of Common Stock with a value equal to the amount of interest due shall be
issued. No fractional shares will be issued; therefore, in the event that the
value of the Common Stock per share does not equal the total interest due, the
Company will pay the balance in cash.

         Section 1.08 PAYING AGENT AND REGISTRAR. Initially, the Company will
act as paying agent and registrar. The Company may change any paying agent,
registrar, or Company-registrar by giving the Holder not less than ten (10)
business days' written notice of its election to do so, specifying the name,
address, telephone number and facsimile number of the paying agent or registrar.

         Section 1.09 SECURITY AGREEMENT. This Debenture is secured by a
Security Agreement (the "Security Agreement") dated January 6, 2006 between the
Company and the Holder. ARTICLE II.

         SECTION 2.01 AMENDMENTS AND WAIVER OF DEFAULT. The Debenture may not be
amended without the consent of the Holder. Notwithstanding the above, without
the consent of the Holder, the Debenture may be amended to cure any ambiguity,
defect or inconsistency, to provide for assumption of the Company obligations to
the Holder or to make any change that does not adversely affect the rights of
the Holder.

                                  ARTICLE III.

         SECTION 3.01 EVENTS OF DEFAULT. An "Event of Default", wherever used
herein, means any one of the following events (whatever the reason and whether
it shall be voluntary or involuntary or effected by operation of law or pursuant
to any judgment, decree or order of any court, or any order, rule or regulation
of any administrative or governmental body):

         (i) Any default in the payment of the principal of, interest on or
         other charges in respect of this Debenture, free of any claim of
         subordination, as and when the same shall become due and payable and
         that is not cured within ten (10) days of the Company's receipt of
         written notice from the Holder explaining such default in reasonable
         detail (whether on an installment, a Principal Payment Date, an
         Interest Payment Date, a Conversion Date or the Maturity Date or by
         acceleration or otherwise);

         (ii) The Company shall fail to observe or perform any other covenant,
         agreement or warranty contained in, or otherwise commit any breach or
         default of any provision of this

                                        3
<PAGE>

         Debenture hereof or the Shareholders Agreement, Security Agreement, or
         the Escrow Agreement which is not cured with in the time prescribed;

         (iii) The Company or any subsidiary of the Company shall commence, or
         there shall be commenced against the Company or any subsidiary of the
         Company under any applicable bankruptcy or insolvency laws as now or
         hereafter in effect or any successor thereto, or the Company or any
         subsidiary of the Company commences any other proceeding under any
         reorganization, arrangement, adjustment of debt, relief of debtors,
         dissolution, insolvency or liquidation or similar law of any
         jurisdiction whether now or hereafter in effect relating to the Company
         or any subsidiary of the Company or there is commenced against the
         Company or any subsidiary of the Company any such bankruptcy,
         insolvency or other proceeding which remains undismissed for a period
         of sixty one (61) days; or the Company or any subsidiary of the Company
         is adjudicated insolvent or bankrupt; or any order of relief or other
         order approving any such case or proceeding is entered; or the Company
         or any subsidiary of the Company suffers any appointment of any
         custodian, private or court appointed receiver or the like for it or
         any substantial part of its property which continues undischarged or
         unstayed for a period of sixty one (61) days; or the Company or any
         subsidiary of the Company makes a general assignment for the benefit of
         creditors; or the Company or any subsidiary of the Company shall fail
         to pay, or shall state that it is unable to pay, or shall be unable to
         pay, its debts generally as they become due; or the Company or any
         subsidiary of the Company shall call a meeting of its creditors with a
         view to arranging a composition, adjustment or restructuring of its
         debts; or the Company or any subsidiary of the Company shall by any act
         or failure to act expressly indicate its consent to, approval of or
         acquiescence in any of the foregoing; or any corporate or other action
         is taken by the Company or any subsidiary of the Company for the
         purpose of effecting any of the foregoing;

         (iv) The Company or any subsidiary of the Company shall default in any
         of its obligations under any other debenture or any mortgage, credit
         agreement or other facility, indenture agreement, factoring agreement
         or other instrument under which there may be issued, or by which there
         may be secured or evidenced any indebtedness for borrowed money or
         money due under any long term leasing or factoring arrangement of the
         Company or any subsidiary of the Company in an amount exceeding
         $20,000, whether such indebtedness now exists or shall hereafter be
         created and such default shall result in such indebtedness becoming or
         being declared due and payable prior to the date on which it would
         otherwise become due and payable;

         (v) At any time following the time the Company has been quoted for
         trading or listed for trading on the Nasdaq OTC Bulletin Board ("OTC"),
         Nasdaq SmallCap Market, New York Stock Exchange, American Stock
         Exchange or the Nasdaq National Market (each, a "Subsequent Market"),
         the Common Stock shall cease to be so quoted for trading or listed for
         trading on a Subsequent Market") and shall not again be quoted or
         listed for trading thereon within five (5) trading days of such
         delisting;

         (vi) The Company shall fail to file the Initial Registration Statement
         with the Commission (as defined in Section 2(a) of the Investor Rights
         Registration Agreement),

                                        4
<PAGE>

         or the Initial Registration Statement shall not have been declared
         effective by the Commission, in each case within the time periods set
         forth in the Investor Registration Rights Agreement of even date
         herewith between the Company and the Holder;

         (vii) If the effectiveness of the Initial Registration Statement lapses
         for any reason or the Holder shall not be permitted to resell the
         shares of Common Stock underlying this Debenture under the Initial
         Registration Statement, in either case, for more than five (5)
         consecutive trading days or an aggregate of eight trading days (which
         need not be consecutive trading days);

         (viii) The Company shall fail for any reason to deliver Common Stock
         certificates to a Holder prior to the fifth (5th) trading day after a
         Conversion Date or the Company shall provide notice to the Holder,
         including by way of public announcement, at any time, of its intention
         not to comply with requests for conversions of this Debenture in
         accordance with the terms hereof;

         Section 3.02 PAYMENT ON EVENT OF DEFAULT. During the time that any
portion of this Debenture is outstanding, if any Event of Default has occurred,
the full principal amount of this Debenture, together with interest and other
amounts owing in respect thereof, to the date of acceleration shall become at
the Holder's election, immediately due and payable in cash, provided however,
the Holder may request (but shall have no obligation to request) payment of such
amounts in Common Stock of the Company. Upon the occurrence of an Event of
Default, the Holder may, in its sole discretion, accelerate full repayment of
all debentures outstanding and accrued interest thereon or may convert all
debentures outstanding and held by Holder and accrued interest thereon into
shares of Common Stock at a conversion price equal to the lowest quoted Bid
price of the Company's Common Stock, as quoted by Bloomberg, LP, for the first
five (5) trading days after the Company's Common Stock becomes listed on the OTC
Bulletin Board. The Holder need not provide and the Company hereby waives any
presentment, demand, protest or other notice of any kind, and the Holder may
immediately and without expiration of any grace period enforce any and all of
its rights and remedies hereunder and all other remedies available to it under
applicable law. Such declaration may be rescinded and annulled by Holder at any
time prior to payment hereunder. No such rescission or annulment shall affect
any subsequent Event of Default or impair any right consequent thereon. Upon an
Event of Default, notwithstanding any other provision of this Debenture, the
Holder shall have no obligation to the Company to comply with or adhere to any
limitations, if any, on the conversion of this Debenture or the sale of the
Conversion Shares.

         Section 3.03 FAILURE TO ISSUE UNRESTRICTED COMMON STOCK. As indicated
in Article III Section 3.01, a breach by the Company of its obligations under
the Shareholders Agreement shall be deemed an Event of Default, which if not
cured within ten (10) days, shall entitle the Holder accelerated full repayment
of all debentures outstanding and held by Holder. The Company acknowledges that
failure to honor a Notice of Conversion shall cause irreparable harm to the
Holder.

                                        5
<PAGE>

                                   ARTICLE IV.

         SECTION 4.01 RIGHTS AND TERMS OF CONVERSION. This Debenture, in whole
or in part, may be converted at any time following the date hereof into shares
of Common Stock at a price equal to the Conversion Price as described in Section
1.02 above.

         SECTION 4.02 RE-ISSUANCE OF DEBENTURE. When the Holder elects to
convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

                                   ARTICLE V.

         SECTION 5.01 ANTI-DILUTION. In the event that the Company shall at any
time subdivide the outstanding shares of Common Stock, or shall issue a stock
dividend on the outstanding Common Stock, the Conversion Price in effect
immediately prior to such subdivision or the issuance of such dividend shall be
proportionately decreased, and in the event that the Company shall at any time
combine the outstanding shares of Common Stock, the Conversion Price in effect
immediately prior to such combination shall be proportionately increased,
effective at the close of business on the date of such subdivision, dividend or
combination as the case may be.

         SECTION 5.02 CONSENT OF HOLDER TO SELL COMMON STOCK. If at any time the
Holder does not control a majority of the voting securities of the Company and
so long as any of the principal of or interest on this Note remains unpaid and
unconverted, the Company shall not, without the prior consent of the Holder,
issue or sell (i) any Common Stock without consideration or for a consideration
per share less than its fair market value determined immediately prior to its
issuance, (ii) issue or sell any warrant, option, right, contract, call, or
other security or instrument granting the holder thereof the right to acquire
Common Stock without consideration or for a consideration per share less than
such Common Stock's fair market value determined immediately prior to its
issuance, or (iii) file any registration statement on Form S-8. Holder shall
take no action, without the consent of the holders of a majority of the
Company's Series A Preferred Stock (or the Common Stock that the Series A
Preferred Stock is converted into), that would cause a breach of this Section
5.02.

                                   ARTICLE VI.

         SECTION 6.01 NOTICE. All notices or other communications required or
permitted to be given pursuant to this Debenture shall be in writing and shall
be considered as duly given on: (a) the date of delivery, if delivered in person
against written receipt therefor, or by nationally recognized overnight delivery
service or (b) five (5) days after mailing if mailed from within the continental
United States by postage pre-paid certified mail, return receipt requested to
the party entitled to receive the same:

                                        6
<PAGE>

If to the Company, to:           Thomas Pharmaceuticals, Ltd.
                                 c/o iVoice, Inc.
                                 750 Route 34
                                 Matawan, NJ  07747
                                 Attention: Jerry Mahoney
                                 Telephone: 732-441-7700
                                 Facsimile: 732-441-9895

                                        7
<PAGE>

If to the Holder:                iVoice, Inc.
                                 750 Route 34
                                 Matawan, NJ 07747
                                 Attention: Jerry Mahoney
                                 Telephone: 732-441-7700
                                 Facsimile: 732-441-9895

         SECTION 6.02 GOVERNING LAW. This Debenture shall be deemed to be made
under and shall be construed in accordance with the laws of the State of New
Jersey without giving effect to the principals of conflict of laws thereof. Each
of the parties consents to the jurisdiction of the U.S. District Court sitting
in the District of the State of New Jersey or the state courts of the State of
New Jersey sitting in Hudson County, New Jersey in connection with any dispute
arising under this Debenture and hereby waives, to the maximum extent permitted
by law, any objection, including any objection based on forum non conveniens to
the bringing of any such proceeding in such jurisdictions.

         SECTION 6.03 SEVERABILITY. The invalidity of any of the provisions of
this Debenture shall not invalidate or otherwise affect any of the other
provisions of this Debenture, which shall remain in full force and effect.

         SECTION 6.04 ENTIRE AGREEMENT AND AMENDMENTS. This Debenture represents
the entire agreement between the parties hereto with respect to the subject
matter hereof and there are no representations, warranties or commitments,
except as set forth herein. This Debenture may be amended only by an instrument
in writing executed by the parties hereto.

IN WITNESS WHEREOF, with the intent to be legally bound hereby, the Company as
executed this Debenture as of the date first written above.

                                           THOMAS PHARMACEUTICALS, LTD.

                                           By: ___________________________
                                           Name:
                                           Title:

                                        8
<PAGE>

                                   EXHIBIT "A"
                                   -----------

                              NOTICE OF CONVERSION
                              --------------------
           (TO BE EXECUTED BY THE HOLDER IN ORDER TO CONVERT THE NOTE)

TO:

         The undersigned hereby irrevocably elects to convert $ of the principal
amount of this Debenture into Shares of Common Stock of Thomas Pharmaceuticals
Inc., according to the conditions stated therein, as of the Conversion Date
written below.

CONVERSION DATE:                          _____________________________________

APPLICABLE CONVERSION PRICE:              _____________________________________

SIGNATURE:                                _____________________________________

NAME:                                     _____________________________________

ADDRESS:                                  _____________________________________

AMOUNT TO BE CONVERTED:  $                _____________________________________

AMOUNT OF DEBENTURE UNCONVERTED: $        _____________________________________

CONVERSION PRICE PER SHARE: $             _____________________________________

NUMBER OF SHARES OF COMMON STOCK TO BE
ISSUED:                                   _____________________________________

PLEASE ISSUE THE SHARES OF COMMON STOCK
IN THE FOLLOWING NAME AND TO THE
FOLLOWING ADDRESS:                        _____________________________________

ISSUE TO:                                 _____________________________________

AUTHORIZED SIGNATURE:                     _____________________________________

NAME:                                     _____________________________________

TITLE:                                    _____________________________________

PHONE NUMBER:                             _____________________________________

BROKER DTC PARTICIPANT CODE:              _____________________________________

ACCOUNT NUMBER:                           _____________________________________

ADDRESS OF RECEIVING PARTY:               _____________________________________

SOCIAL SECURITY NUMBER OR
TAX IDENTIFICATION NUMBER OF
RECEIVING PARTY:                          _____________________________________

                                       A-1Exhibit 10.1 -

    
      

      

    

    

    CALIM
      PRIVATE EQUITY, LLC

    P.O.
      Box 2720

    Aspen
      Colorado 81612

    

    March
      29,
      2007

    

    Chapeau,
      Inc.

    1190
      Suncast Lane, Suite 2

    El
      Dorado
      Hills, California 95762

    

    Re: Conversion
      Acknowledgement 

    

    Gentlemen:

    

    This
      letter of acknowledgement is provided in connection with the delivery of various
      Notices
      of Conversion
      by the
      undersigned holders listed
      on
Schedule
      A
      attached
      hereto (each of whom is referred to individually as, a “Holder” and collectively
      as, the “Holders”)
      to
      Chapeau, Inc., a Utah corporation, (the “Company”). 

     

    The
      Company hereby acknowledges receipt and acceptance from each of the Holders
      of a
      Notice of Conversion, each executed and delivered on March 8, 2007 (the
“Effective Date”) (each, respectively, a “Notice” and collectively, the
“Notices”), which Notices together with the receipt by the Company of each
      applicable original tendered bond or note (assigned to the Company) for
      cancellation by the Company or receipt by the Company of an Affidavit of Lost,
      Missing or Destroyed Certificate covering a bond together effect each Holder’s
      election to convert the original principal amount of the tendered bonds or
      notes, as applicable (exclusive of Interest, if any, as defined below), into
      shares of Company common stock, par value $0.001 per share (“Common Stock”) and
      an equal number of warrants to purchase Common Stock (the “Warrants” and
      together with the Common Stock hereinafter collectively referred to as, the
      “Shares”) pursuant to the terms and conditions of the applicable bonds and notes
      and associated bond purchase agreements or loan agreements (the “Debt
      Instruments”), all as detailed on Schedule A attached hereto. Unless otherwise
      defined herein or the context otherwise requires, capitalized terms used in
      this
      letter shall have the meanings assigned them in the applicable Debt
      Instrument.

    

    The
      Company and each Holder hereby agree that as of the Effective Date any and
      all
      of the original principal amount outstanding on each bond or note tendered
      for
      conversion (as set forth on Schedule
      A
      attached
      hereto), shall be converted into Shares. The Warrants shall be issued in
      substantially the same form as the Warrant attached hereto as Exhibit
      A.
      In
      addition, each Holder shall be entitled to an amount of cash which represents
      the unconverted amount of accrued and unpaid interest under the tendered bonds
      or notes, as applicable, through the Effective Date as provided for in the
      relevant Debt Instrument, as detailed on Schedule
      B
      attached
      hereto (the “Interest”).

    

    

    
      
        
           

        

        
          1

          
            

          

        

        
           

        

      

    

    

    The
      Company hereby agrees to issue to and in the name of each Holder and cause
      such
      issuance to be recorded on the books and records of the Company, and each Holder
      hereby agrees to receive and accept from the Company, the number of Shares
      set
      forth adjacent to each Holder’s name on Schedule
      A
      attached
      hereto, in consideration for conversion and cancellation of the tendered bonds
      or notes, as applicable, representing the aggregate amount of principal on
      such
      bonds or notes as detailed on Schedule
      A
      attached
      hereto. The cash payable for any and all Interest with respect to a bond or
      note
      shall be payable from the Company’s net income and associated positive cash flow
      from the Company’s profitable operations and as soon as practicable in the sole
      discretion of the Company; but in no event later than March 31, 2009. Additional
      interest shall accrue on all unpaid Interest pursuant to the terms of the
      applicable Debt Instrument until full satisfaction of such obligation by the
      Company. No fractional shares of Common Stock shall be issued upon conversion
      of
      the bonds or notes tendered, as applicable. In lieu of the Company issuing
      any
      fractional shares of Common Stock to a Holder upon the conversion, the Company
      shall pay to such Holder(s) in cash an amount equal to the product obtained
      by
      multiplying the applicable conversion price set forth on Schedule
      A
      attached
      hereto, by the fractional interest of shares of Common Stock otherwise owing
      to
      such Holder(s) upon conversion.

    

    In
      conjunction with the conversion, Company and each Holder agree to take all
      such
      actions as shall be necessary to release any security interest in the Company’s
      assets created upon execution, including, but not limited to, all requisite
      filings under the Uniform Commercial Code.

    

    Upon
      conversion into Shares and the payment by the Company of Interest and any
      additional interest accruing thereon, the applicable Debt Instrument shall
      be of
      no further force and effect and the Company shall be forever released from
      any
      and all of its obligations and liabilities under said bonds and notes.

     

    This
      Agreement may be executed in counterparts, each of which when executed and
      delivered will be deemed to be an original but all of which taken together
      will
      constitute one and the same Agreement.

     

     

     

     

    [Remainder
      of Page Intentionally Left Blank]

     

     

     

     

     

     

     

    

    
      
        
           

        

        
          2

          
            

          

        

        
           

        

      

    

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      date
      first written above.

    

     

    
      	
               

            	
              CHAPEAU,
                INC.

            
	 	 	 
	
               

            	
              By:  
                

            	
              /s/
                Guy. A.
                Archbold                         

            
	 	
              Name:  

            	
              Guy
                A. Archbold

            	 
	 	
              Title:  

            	
              Chief
                Executive Officer

            	 
	
               

            	
               

            	
               

            	
               

            
	 	Address:	
              1190
                Suncast Lane, Suite 2

            	 
	 	 	
              El
                Dorado Hills, CA 95762

            	 

    

     

     

    
      	
               

            	
              CALIM
                BRIDGE PARTNERS I, LLC

            
	 	 
	
               

            	
              By:
                

            	
              Calim
                Private Equity, LLC 

            
	 	
              Its:

            	
              Manager

            
	 	
              By:

            	
              /s/
                Pat
                Imeson                                   

            
	
               

            	
              
                Name:

              

            	
              
                Pat
                  Imeson

              

            	
               

            
	
               

            	
              
                Its:

              

            	
              
                Managing
                  Director 

              

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
              
                Address:

              

            	
              
                320
                  W. Main St.

              

            	
               

            
	
               

            	
               

            	
              
                Aspen,
                  CO 81661

              

            	
               

            

    

    

    
      	
               

            	
              CALIM
                BRIDGE PARTNERS II, LLC

            
	 	 
	
               

            	
              By:
                

            	
              Calim
                Private Equity, LLC 

            
	 	
              Its:

            	
              Manager

            
	 	 	 
	 	
              By:

            	
              /s/
                Pat
                Imeson                                   

            
	
               

            	
              
                Name:

              

            	
              
                Pat
                  Imeson

              

            	
               

            
	
               

            	
              
                Its:

              

            	
              
                Managing
                  Director 

              

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
              
                Address:

              

            	
              
                320
                  W. Main St.

              

            	
               

            
	
               

            	
               

            	
              
                Aspen,
                  CO 81661

              

            	
               

            

    

    

    

    [Signature
      Page to Conversion Acknowledgement Letter, dated March 29,
      2007]

    

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

     

    
      	
               

            	
              CALIM
                VENTURE PARTNERS II, LLC

            
	 	 
	
               

            	
              By:
                

            	
              Calim
                Private Equity, LLC 

            
	 	
              Its:

            	
              Manager

            
	 	 	 
	 	
              By:

            	
              /s/
                Pat
                Imeson                                   

            
	
               

            	
              
                Name:

              

            	
              
                Pat
                  Imeson

              

            	
               

            
	
               

            	
              
                Its:

              

            	
              
                Managing
                  Director 

              

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
              
                Address:

              

            	
              
                320
                  W. Main St.

              

            	
               

            
	
               

            	
               

            	
              
                Aspen,
                  CO 81661

              

            	
               

            

    

    

    

    
      	
               

            	
              MFPI
                PARTNERS, LLC

            
	 	 
	
               

            	
              By:

            	
              /s/
                Pat
                Imeson                                   
                

            
	 	
              Name:

            	
              Pat
                Imeson

            
	 	
              Its:

            	
              Manager

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
              
                Address:

              

            	
              
                320
                  W. Main St.

              

            	
               

            
	
               

            	
               

            	
              
                Aspen,
                  CO 81661

              

            	
               

            
	
               

            	
               

            	 	 
	
               

            	 	 	 
	
               

            	 	 	 

    

    

    

    

    

    [Signature
      Page to Conversion Acknowledgement Letter, dated March 29,
      2007]

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

     

    SCHEDULE
      A

    

    
      	
              Holder

            	 	
              Bond/Note

            	 	
              Aggregate
                Principal Amount

            	 	
              Conversion
                Price

            	 	
              Shares
                of Common Stock Issued

            	 	
              Shares
                of Common Stock Underlying Warrant Issued 

            
	
              Calim
                Bridge Partners I, LLC

            	 	
              12%
                Series A Convertible Bonds1

            	 	
              $2.0
                Million

            	 	
              $0.30
                per share

            	 	
              6,666,666

            	 	
              6,666,6663

            
	
              Calim
                Bridge Partners II, LLC

            	 	
              12%
                Series B Convertible Bonds1

            	 	
              $2.5
                Million

            	 	
              $0.30
                per share

            	 	
              8,333,333

            	 	
              8,333,3333

            
	
              Calim
                Venture Partners II, LLC

            	 	
              Promissory
                Note2 

            	 	
              $517,000.00

            	 	
              $0.15
                per share

            	 	
              3,446,666

            	 	
              3,446,6664

            
	
              MFPI
                Partners, LLC

            	 	
              Promissory
                Note2

            	 	
              $304,000.00

            	 	
              $0.15
                per share

            	 	
              2,026,666

            	 	
              2,026,6664,5

            

    

    

    

    1. Issued
      pursuant to that certain Bond Purchase Agreement, dated as of April 16, 2004,
      as
      amended by First Amendment and Supplement to Bond Purchase Agreement, dated
      April 14, 2005.

    

    2. Promissory
      Note, dated August 14, 2002, as amended by that certain Allonge to Promissory
      Note, dated December 2, 2002.

    

    3. The
      exercise price of Common Stock underlying the Warrants is $0.50 per
      share.

    

    4. The
      exercise price of Common Stock underlying the Warrants is $0.25 per
      share.

    

    5. The
      warrants will be issued in increments of four warrant documents to purchase
      500,000 shares, one warrant document to purchase 20,000 shares and one warrant
      document to purchase 6,666 shares. Notice of exercise for these warrants may
      either be submitted by Patrick Imeson as Manager of MFPI Partners, LLC or by
      Gordon Snyder as Administrative Agent of the Loan, Pledge and Security Agreement
      between MFPI Partners, LLC and the Irrevocable Trust U/W John H
      Evans.

    

    

    

    

    

    

    
 

    

    

    

    

    

    

    

    [Schedule
      A to Conversion Acknowledgement Letter, dated March 29, 2007]

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    SCHEDULE
      B

    

      
        	
                Holder

              	 	
                Bond/Note

              	 	
                Accrued
                  Interest as of March 8, 20073

              
	
                Calim
                  Bridge Partners I, LLC

              	 	
                12%
                  Series A Convertible Bonds1

              	 	
                $603,100

              
	
                Calim
                  Bridge Partners II, LLC

              	 	
                12%
                  Series B Convertible Bonds1

              	 	
                $562,207

              
	
                Calim
                  Venture Partners II, LLC

              	 	
                Promissory
                  Note2 

              	 	
                $257,811

              
	
                MFPI
                  Partners, LLC

              	 	
                Promissory
                  Note2

              	 	
                $151,595

              

      

    

     

    

    1.
      Issued
      pursuant to that certain Bond Purchase Agreement, dated as of April 16, 2004,
      as
      amended by First Amendment and Supplement to Bond Purchase Agreement, dated
      April 14, 2005.

    

    2.
      Promissory Note, dated August 14, 2002, as amended by that certain Allonge
      to
      Promissory Note, dated December 2, 2002. 

    

    3.
      The
      Company shall accrue and pay interest at a rate of 12% per annum on the amount
      of accrued interest as of March 8, 2007 as set forth in this Schedule B until
      such time as the amount of accrued interest as of March 8, 2007 and any interest
      thereon has been fully satisfied.

    

    

    

    

    

    

    

     

     

     

     

    

    

    

    

    

    

    

    

    

    

    [Schedule
      A to Conversion Acknowledgement Letter, dated March 29, 2007]

    

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    EXHIBIT
      A

    

    FORM
      OF
      WARRANT TO PURCHASE COMMON STOCK

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

     

    THIS
      WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). THEY
      MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE
      TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
      1933 ACT, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION
      IS NOT REQUIRED UNDER THE 1933 ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER
      THE
      1933 ACT AND APPLICABLE STATE SECURITIES LAW.

     

    Warrant
      to Purchase Common Stock

     

    of

     

    Chapeau,
      Inc.

     

    Void
      after March 9, 2009 

     

    [TWO
      YEAR
      WARRANT]

     

    This
      Warrant
      is
      issued to____________________________________________,
      or its
      registered assigns (the “Holder”) by Chapeau, Inc., a Utah corporation (the
“Company”), on March 8, 2007 (the “Warrant Issue Date”). This Warrant is issued
      pursuant to that certain [Bond Purchase Agreement dated as of April 16, 2004
      (the “Purchase Agreement”), pursuant to a “Conversion,”] within the meaning of
      the Purchase Agreement, of the Series A Bonds issuable thereunder. Unless
      otherwise defined or the context otherwise requires, capitalized terms used
      herein shall have the meanings assigned them in the Purchase
      Agreement.

     

    1. Shares.
      Subject
      to the terms and conditions of this Warrant, the Holder is entitled, upon
      surrender of this Warrant at the principal office of the Company (or at such
      other place as the Company shall notify the Holder in writing), to purchase
      from
      the Company _______________ fully paid and nonassessable shares of Common Stock,
      as constituted on the Warrant Issue Date. The number of shares of Common Stock
      issuable pursuant to this Section 1 (the “Shares”) shall be subject to
      adjustment pursuant to Section 9 below.

     

    2. Exercise
      Price. The
      purchase price for the Shares shall be equal to $1.00 per share, as adjusted
      from time to time pursuant to Section 9 below (the “Exercise
      Price”).

     

    

    
      
        
           

        

        
          1

          
            

          

        

        
           

        

      

    

    

    3. Exercise
      Period.
      This
      Warrant shall be exercisable, in whole or in part, during the term commencing
      on
      the date 30 days after the Warrant Issue Date and ending at 5:00 p.m. on the
      second anniversary of the Warrant Issue Date; provided
      that
      in the
      event (each a “Disposition Event”) of (i) the closing of the Company’s sale or
      transfer of all or substantially all of its assets or (ii) the closing of the
      acquisition of the Company by another entity by means of merger, consolidation
      or other transaction or series of related transactions, resulting in the
      exchange of the outstanding shares of the Common Stock (unless (A) the
      shareholders of the Company immediately prior to such transaction or series
      of
      related transactions are holders of a majority of the voting equity securities
      of the surviving or acquiring corporation immediately thereafter and (B) each
      of
      such shareholders immediately prior to such transaction or series of related
      transactions holds the same pro rata share of such majority of the voting equity
      securities of the surviving or acquiring corporation as each hold of the Company
      immediately prior to such transaction or series of related transactions), this
      Warrant shall, on the date of a Disposition Event, no longer be exercisable
      and
      become null and void. The Company shall notify the Holder at least 20 days
      prior
      to the consummation of any Disposition Event; provided that the Holder shall
      in
      any event have at least 40 days after the Warrant Issue Date to exercise this
      Warrant.

     

    4. Method
      of Exercise. While
      this Warrant remains outstanding and exercisable, the Holder may exercise this
      Warrant, in whole or in part, at one time or from time to time, by:

     

    (a) the
      surrender of this Warrant, together with a duly executed copy of the form of
      Notice of Election attached hereto, to the Secretary of the Company at its
      principal offices; and

     

    (b) the
      payment to the Company of an amount equal to the aggregate Exercise Price for
      the number of Shares being purchased. In the event of a partial exercise of
      this
      Warrant, the Company shall cause to be issued to the Holder a Warrant of like
      tenor to this Warrant for the number of Shares for which this Warrant has not
      yet been exercised.

     

    5. Net
      Exercise.
      In lieu
      of exercising this Warrant pursuant to Section 4 above, the Holder may elect
      to
      receive, without the payment by the Holder of any additional consideration,
      Shares in an amount equal to the then value of this Warrant (or the portion
      thereof being surrendered) by surrender of this Warrant at the principal office
      of the Company together with notice of such election, in which event the Company
      shall issue to the holder hereof a number of Shares computed using the following
      formula:

     

    Y
      (A -
      B)

     

    X
      =
 A

     

    
      	 	
              Where:

            	
              X
                =
                The number of Shares to be issued to the Holder pursuant to this
                Section
                5;

            

    

     

    Y
      = The
      number of Shares in respect of which the net issue election is
      made;

     

    A
      = The
      fair market value of one share of Common Stock at the time the net issue
      election is made; and

     

    B
      = The
      Exercise Price.

     

    

    
      
        
           

        

        
          2

          
            

          

        

        
           

        

      

    

    

    For
      purposes of this Section 5, the fair market value of one share of Common Stock
      as of a particular date shall be (i) if traded on a national securities exchange
      or quoted through an established quotation system, the value shall be deemed
      to
      be the average of the closing prices of the securities on such exchange or
      through such system over the 30 day period ending three days prior to the net
      exercise election; (ii) if traded over-the-counter, the value shall be deemed
      to
      be the average of the closing bid or sale prices (whichever is applicable)
      over
      the 30 day period ending three days prior to the net exercise; and (iii) if
      there is no active public market, the value shall be the fair market value
      thereof, as determined in good faith by the Board of Directors of the
      Company.

     

    6. Representations
      and Warranties of Holder. The
      initial Holder referenced above, and each person who might hereafter become
      a
      Holder, hereby represents and warrants, either by its execution hereof or its
      receipt of this Warrant in a Permitted Transfer (as hereinafter defined)
      that:

     

    (a) Acquisition for
      Own Account.
      This
      Warrant is being issued to the Holder in reliance upon its representation to
      the
      Company that this Warrant, the Common Stock to be received by it upon exercise
      of this Warrant and the Common Stock issuable upon conversion thereof
      (collectively, the “Securities”) are being and will be acquired for investment
      for the Holder’s own account, not as a nominee or agent, and not with a view to
      the resale or distribution of any part thereof, and that the Holder has no
      present intention of selling, granting any participation in, or otherwise
      distributing the Securities, in whole or in part. The Holder further represents
      that it does not have any contract, undertaking, agreement or arrangement with
      any person to sell, transfer or grant participations to such person or to any
      third person, with respect to any of the Securities.

     

    (b) Investment
      Experience.
      The
      Holder is an investor in securities of companies in the development stage and
      acknowledges that it is able to fend for itself, can bear the economic risk
      of
      its investment, and has such knowledge and experience in financial or business
      matters that it is capable of evaluating the merits and risks of the investment
      in the Securities. If other than an individual, the Holder also represents
      it
      has not been organized for the purpose of acquiring the Securities. The Holder
      is an “accredited investor” as such term is defined under Regulation D
      promulgated pursuant to the 1933 Act.

     

    (c) Restricted
      Securities.
      The
      Holder understands that any of the Securities that it is purchasing or otherwise
      taking delivery of are or will be characterized as “restricted securities” under
      the 1933 Act inasmuch as they are being acquired from the Company in a
      transaction not involving a public offering and that under the 1933 Act and
      applicable regulations such securities may be resold without registration under
      the 1933 Act only in certain limited circumstances. The Holder represents that
      it is familiar with Rule 144 promulgated under the 1933 Act, as presently in
      effect, and understands the resale limitations imposed thereby and by the 1933
      Act.

     

    (d) Further
      Limitations on Disposition.
      The
      Holder agrees not to make any disposition of all or any portion of the
      Securities (each a “Permitted Transfer”) unless and until the transferee has
      agreed in writing for the benefit of the Company to be bound by this Section
      6,
      to the extent this Section is then applicable, and:

     

    (i) there
      is
      then in effect a registration statement under the 1933 Act covering the proposed
      disposition and such disposition is made in accordance with such registration
      statement; or

     

    

    
      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

    

    (ii) (A)
      the
      Holder shall have notified the Company of the proposed disposition and shall
      have furnished the Company with a detailed statement of the circumstances
      surrounding the proposed disposition and (B) if reasonably requested by the
      Company, the Holder shall have furnished the Company with an opinion of counsel,
      reasonably satisfactory to the Company, that such disposition will not require
      registration of the applicable Securities under the 1933 Act; and

     

    (iii) notwithstanding
      (i) and (ii) above, no such registration statement or opinion of counsel shall
      be necessary for a transfer by a Holder (A) that is a partnership to a partner
      of such partnership or a retired partner of such partnership who retires after
      the date hereof, or to the estate of any such partner or retired partner or
      the
      transfer by gift, will or intestate succession of any partner to his or her
      spouse or to the siblings, lineal descendants or ancestors of such partner
      or
      his or her spouse, or (B) to any entity that is controlled by, controls or
      is
      under common control with the Holder, if the transferee agrees in writing to
      be
      subject to the terms hereof to the same extent as if it were an original Holder
      hereunder.

     

    (e) Legends.
      Certificates evidencing the Securities may bear one or all of the following
      legends:

     

    (i) “These
      securities have not been registered under the Securities Act of 1933, as
      amended. They may not be sold, offered for sale, pledged or hypothecated in
      the
      absence of a registration statement in effect with respect to the securities
      under such Act or an opinion of counsel satisfactory to the Company that such
      registration is not required or unless sold pursuant to Rule 144 of such Act;”
and

     

    (ii) Any
      legend required by the laws of the State and any other applicable state of
      the
      United States.

     

    7. Certificates
      for Shares.
      Upon the
      exercise of the purchase rights evidenced by this Warrant, one or more
      certificates for the number of Shares so purchased shall be issued as soon
      as
      practicable thereafter (with appropriate restrictive legends, if applicable),
      and in any event within 15 days following compliance by the Holder with the
      requirements of Section 4 above. The Company shall not be required to issue
      any
      fractional shares, and if any fraction of a Share would be issuable on the
      exercise of this Warrant in full, the Company shall pay an amount in cash equal
      to the then current fair market value of a Share, determined in accordance
      with
      Section 5 above, times the applicable fraction. 

     

    8. Reservation
      of Shares. The
      Company covenants that it will at all times keep available such number of
      authorized shares of Common Stock, free from all preemptive rights with respect
      thereto, which will be sufficient to permit the exercise of this Warrant for
      the
      full number of Shares specified herein. The Company covenants that the Shares,
      when issued pursuant to the exercise of this Warrant, will be duly and validly
      issued, fully paid and nonassessable and free from all taxes, liens, and charges
      with respect to the issuance thereof.

     

    9. Adjustment
      of Exercise Price and Number of Shares. The
      number of and kind of Securities purchasable or receivable upon exercise of
      this
      Warrant and the Exercise Price shall be subject to adjustment from time to
      time
      as follows:

     

    

    
      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

    

    (a) Subdivisions,
      Combinations and Other Issuances.
      If the
      Company shall subdivide the Common Stock, by split-up or otherwise, combine
      the
      Common Stock or issue additional shares of Common Stock as a dividend or other
      distribution with respect to any of its securities, the number of Shares
      issuable on the exercise of this Warrant shall be proportionately increased
      in
      the case of a subdivision, dividend or distribution and shall be proportionately
      decreased in the case of a combination. Appropriate adjustments shall also
      be
      made to the Exercise Price, but the aggregate purchase price payable for the
      total number of Shares purchasable under this Warrant (as adjusted) shall remain
      the same. Any adjustment under this Section 9(a) shall become effective at
      the
      close of business on the date the subdivision or combination becomes effective,
      or as of the record date of a dividend or other distribution, or in the event
      that no record date is fixed, upon the making of such dividend or
      distribution.

     

    (b) Reclassification,
      Reorganization and Consolidation.
      In the
      event of any reclassification, capital reorganization or change in the Common
      Stock, other than as a result of an event provided for in (a) above, then,
      as a
      condition of such transaction, the Holder shall have the right at any time
      prior
      to the expiration of this Warrant to purchase, at a total price equal to that
      payable upon the exercise of this Warrant, the kind and amount of shares of
      stock and other securities and property receivable in connection with the
      applicable transaction by a holder of the same number of shares of Common Stock
      as were purchasable by the Holder immediately prior to the transaction. In
      any
      such case appropriate provisions shall be made with respect to the rights and
      interest of the Holder so that this provision shall thereafter be applicable
      with respect to any Securities deliverable upon exercise of this Warrant, and
      appropriate adjustments shall be made to the Exercise Price; provided
      that
      the
      aggregate purchase price shall remain the same.

     

    (c) Notice
      of Adjustment.
      When
      any adjustment is required to be made in the number or kind of Shares receivable
      upon exercise of this Warrant, or in the Warrant Price, the Company shall
      promptly notify the Holder thereof and of the number of Shares or other
      Securities thereafter receivable upon exercise of this Warrant.

     

    (d) No
      Impairment.
      The
      Company and the Holder will not, by any voluntary action, avoid or seek to
      avoid
      the observance or performance of any of the terms to be observed or performed
      hereunder by the Company or the Holder, respectively, but will at all times
      in
      good faith assist in the carrying out of all the provisions of this Section
      9
      and in the taking of all such action as may be necessary or appropriate in
      order
      to protect the rights of the Company and the Holder against
      impairment.

     

    10. No
      Shareholder Rights.
      Prior to
      exercise of this Warrant, the Holder shall not be entitled to any rights of
      a
      shareholder with respect to the Shares, including without limitation the right
      to vote Shares, receive dividends or other distributions thereon, exercise
      preemptive rights or, other than as may be provided in the Loan Agreement,
      be
      notified of shareholder meetings, and the Holder shall not be entitled to any
      notice or other communication concerning the business or affairs of the Company.
      However, nothing in this Section 10 shall limit the right of the Holder to
      be
      provided the notices required under this Warrant and, in addition, the Company
      will afford to the Holder the right, upon advance notice, to meet periodically
      with the Company’s chief executive and chief financial officers during mutually
      agreeable business hours to discuss the Company’s business and
      affairs.

     

    

    
      
        
           

        

        
          5

          
            

          

        

        
           

        

      

    

    

    11. Transfers.
      Subject
      to compliance with the requirements of Section 6 above with respect to
      applicable federal and state securities laws, this Warrant and all rights (but
      only with all related obligations) hereunder are transferable in whole or in
      part by the Holder upon reasonable prior written notification to the Company.
      The transfer shall be recorded on the books of the Company upon (i) the
      surrender of this Warrant, properly endorsed, to the Company at its principal
      offices; (ii) the payment to the Company of all transfer taxes and other
      governmental charges imposed on such transfer; and (iii) the transferee’s
      agreement in writing to be bound by and subject to the terms and conditions
      of
      this Warrant. In the event of a partial transfer, the Company shall issue to
      the
      Holders one or more appropriate new Warrants of like tenor to this
      Warrant.

     

    12. Successors
      and Assigns. The
      terms
      and provisions of this Warrant shall inure to the benefit of, and be binding
      upon, the Company and the Holders and their respective successors and
      assigns.

     

    13. Registration
      Rights. The
      Shares issuable upon exercise of this Warrant shall be entitled to be included,
      pari
      passu,
      with
      any other shares of Common Stock and any securities issuable upon conversion
      of
      the Common Stock, pursuant to the Registration Rights Agreement, dated as of
      April 16, 2004, as well as under the terms of any other registration rights,
      if
      any, that the Company may have heretofore or may hereafter grant to any other
      persons whomsoever, and the Company agrees to do all such things in connection
      with any registration rights agreements or registration of the Common Stock
      under the 1933 Act to ensure that the rights of the Holder hereunder are
      recognized in connection therewith.

     

    14. Amendments
      and Waivers. Any
      term
      of this Warrant may be amended and the observance of any term of this Warrant
      may be waived (either generally or in a particular instance and either
      retroactively or prospectively), with the written consent of the Company and
      the
      Holder.

     

    15. Notices.
      All
      notices required or otherwise made under this Warrant shall be given as provided
      in Section 12.2 of the Purchase Agreement.

     

    16. Captions.
      The
      section and subsection headings of this Warrant are inserted for convenience
      only and shall not constitute a part of this Warrant in construing or
      interpreting any provision hereof.

     

    17. Governing
      Law.
      This
      Warrant shall be governed by the laws of the State of Delaware.

     

    

    
      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

    

    IN
      WITNESS WHEREOF,
      this
      Warrant to be executed by the Company and acknowledged by the Holder as of
      March
      8, 2007
      .

     

    
      	 	
              CHAPEAU,
                INC.

            
	 	 
	 	
              By: 
                ____________________________

            
	 	
              Authorized
                Officer

            

    

     

    ACCEPTED
      AND ACKNOWLEDGED:

     

     

    ____________________________________

    [Name
      of
      Holder]

     

    By:
      _________________________________      

     

    Name:
      _______________________________     

     

    Title:
      ________________________________      

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

    

    

    NOTICE
      OF EXERCISE

     

    To:
      Chapeau, Inc.

     

    The
      undersigned hereby elects to:

     

    
      	 	
              □

            	
              Purchase
                _________ shares of the Common Stock of Chapeau, Inc. (the “Company”)
                pursuant to the terms of the attached Warrant, and payment of the
                Exercise
                Price per share required under the Warrant accompanies this
                notice;

            

    

     

    OR

     

    
      	 	
              □

            	
              Exercise
                the attached Warrant for □
                all of the shares OR □
                __________ of the shares purchasable under the Warrant pursuant to
                the net
                exercise provisions of Section 5 of the
                Warrant.

            

    

     

    The
      undersigned hereby represents and warrants that it is acquiring the indicated
      shares for its own account for investment purposes only, and not for resale
      or
      with a view to distribution of such shares or any part thereof.

     

    
      	 	
              WARRANT
                HOLDER:

              ________________________________

            
	 	 
	 	
              By:
                _____________________________

            
	 	 
	 	
              Date:
                ____________________________

            

    

    

     

    Name
      in
      which shares should be registered:

     

    ____________________________________

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