Document:

Exhibit 10.11

EXHIBIT 10.11 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "1933 ACT"), OR UNDER THE PROVISIONS OF ANY APPLICABLE
STATE SECURITIES LAWS, BUT HAS BEEN ACQUIRED BY THE REGISTERED HOLDER HEREOF FOR
PURPOSES OF INVESTMENT AND IN RELIANCE ON STATUTORY EXEMPTIONS UNDER THE 1933
ACT, AND UNDER ANY APPLICABLE STATE SECURITIES LAWS. THIS NOTE MAY NOT BE SOLD,
PLEDGED, TRANSFERRED OR ASSIGNED EXCEPT IN A TRANSACTION WHICH IS EXEMPT UNDER
PROVISIONS OF THE 1933 ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT; AND IN THE CASE OF AN EXEMPTION, ONLY IF
THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT
SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION OF THIS NOTE.

                              GLOBUS WIRELESS, LTD.

October 18, 2000                                       Kelowna, British Columbia
                                                       Up to $5,000,000 US

                       SECURED CONVERTIBLE PROMISSORY NOTE

     Globus Wireless, Ltd., a Nevada corporation (the "Company"), for value
received, hereby promises to pay to Aztec Components, Inc., of 39 Argonaut,
Suite 150, Aliso Viejo, CA 92656, or registered assigns (the "Holder") upon the
Company's failure to pay Holder any sums due to Holder pursuant to that certain
Agreement for Sale of Manufactured Goods entered into between the Company and
the Holder of even date herewith (the "Agreement"), the principal sum equal to
the amount of such default, up to five million dollars ($5,000,000), subject to
the terms and conditions described in Section 2 hereto, in such coin or currency
of the United States of America as at the time of payment shall be legal tender
for the payment of public and private debts (the "Note"). The Principal and all
other amounts payable under this Note shall be due and payable on the Maturity
Date in like coin or currency to the Holder hereof at the office of the Holder
as hereinafter set forth, provided that any payment otherwise due on a Saturday,
Sunday or legal Bank holiday may be paid on the following business day.

          1. Transfers of Note to Comply with the 1933 Act
             ---------------------------------------------

     The Holder agrees that this Note may not be sold, transferred, pledged,
hypothecated or otherwise disposed of except as follows: (1) to a person to whom
the Note may legally be transferred without registration and without delivery of
a current prospectus under the 1933 Act with respect thereto and then only
against receipt of an agreement of such person to comply with the provisions of

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this Section 1 with respect to any resale or other disposition of the Note; or
(2) to any person upon delivery of a prospectus then meeting the requirements of
the 1933 Act relating to such securities and the offering thereof for such sale
or disposition, and thereafter to all successive assignees.

          2. Payment Upon Default by the Company
             -----------------------------------

     Pursuant to the terms negotiated between the Company and the Holder under
the Agreement and in consideration for the extension by the Holder of a credit
line pursuant to the Agreement, the Company hereby covenants that it shall pay
Holder any amounts due under the Agreement, up to a maximum aggregate sum of
five million dollars ($5,000,000), in the event that the Company shall owe the
Holder payments pursuant to the Agreement and the Company fails to correct such
default within thirty calendar days after the Company receives written notice
from the Holder of the default (the business day after such thirty day period
referred to hereinafter as, the "Maturity Date"). In the event that the Holder
shall demand payment of this Note, by conversion or otherwise, in an amount less
than five million dollars ($5,000,000) the Company shall deliver such payment
and execute and deliver a new Note of like tenor and date in an amount equal to
five million dollars ($5,000,000) less the amount of such payment. In no event
shall the Company be required to make payments pursuant to the Agreement and
this Note with respect to the same products.

          3. Conversion
             ----------

     Upon the Maturity Date, the Holder may convert the principal amount of this
Note and all other amounts payable under this Note into shares of the Company's
Common Stock at a conversion rate equal to seventy five percent (75%) of the
average trading price of the Company's Common Stock for the ten day period prior
to the date that Holder notifies the Company of such election, as reported on
the Nasdaq National Market, Nasdaq SmallCap Market, Over the Counter Bulletin
Board or such other United States securities trading market on which the
Company's Common Stock shall be trading at that time.

          4. Security
             --------

     The Company acknowledges and agrees that payment of and performance by the
Company under this Note is secured by the Collateral identified in that certain
Security Agreement of even date herewith between the Company and the Holder.

          5. Covenants of Company
             --------------------

     The Company covenants and agrees that, unless the Holder shall otherwise
consent in writing, it will comply with the following terms:

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          (a) Reporting Requirements. The Company will furnish to the Holder:

          (i) as soon as possible, but no later than ten (10) days after
obtaining knowledge of the occurrence of (A) an "Event of Default," as
hereinafter defined, (B) an event which, with the giving of notice or the lapse
of time or both, would constitute an Event of Default, or (C) a material adverse
change in the condition or operations, financial or otherwise, of the Company,
taken as a whole, the written statement of the Chief Executive Officer or the
Chief Financial Officer of the Company, setting forth the details of such Event
of Default, event or material adverse change and the action which the Company
proposes to take with respect thereto;

          (ii) promptly after the sending or filing thereof, copies of all
financial statements, reports, certificates of its Chief Executive Officer,
Chief Financial Officer or accountants and other information which the Company
or any subsidiary sends to any holders of its securities;

          (iii) promptly after the commencement thereof, notice of each action,
suit or proceeding before any court or other governmental authority or other
regulatory body or any arbitrator as to which there is a reasonable possibility
of a determination that would (A) materially impact the ability of the Company
or any subsidiary to conduct its business, (B) materially and adversely affect
the business, operations or financial condition of the Company taken as a whole,
or (C) impair the validity or enforceability of the Note or the ability of the
Company to perform its obligations under the Note.

          (b) Authority. The Company has the corporate power to execute, deliver
and perform this Note and all other agreements and documents contemplated hereby
and thereby. The execution, delivery and performance hereof by the Company has
been duly authorized by all necessary corporate and shareholder action, where
applicable. This Note is a legal, valid and binding obligation of the Company
and is enforceable against the Company in accordance with its terms.

          (c) No Conflict. The execution and delivery of this Note and all other
agreements and documents to which the Company is a party does not, and the
consummation of transactions contemplated hereby and thereby will not, conflict
with, or result in any violation of, or default under (with or without notice or
lapse of time, or both), or give rise to a right of termination, cancellation,
modification or acceleration of any obligation or loss of any benefit under (i)
any provision of the Certificate of Incorporation and Bylaws of the Company,
(ii) any mortgage, indenture, lease, contract or other agreement to or
instrument, permit, concession, franchise or license to which the Company or any
of its properties or assets are subject, or (iii) any judgment, order, decree,
statute, law, ordinance, rule or regulation applicable to the Company or its
properties or assets.

          (d) Compliance with Laws. The Company will comply, in all material
respects with all applicable laws, rules, regulations and orders, except to the
extent that noncompliance would not have a material adverse effect upon the
business, operations or financial condition of the Company taken as a whole.

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          (e) Preservation of Existence. The Company will maintain and preserve,
and cause each subsidiary, if any, to maintain and preserve, its existence, and
become or remain duly qualified and in good standing in each jurisdiction in
which the failure to be so qualified would have a material adverse effect on the
business, operations or financial condition of the Company, taken as a whole.

          (f) Maintenance of Properties. The Company will maintain and preserve,
all of its properties which are necessary in the proper conduct of its business
in good working order and condition, ordinary wear and tear excepted, and
comply, at all times with the provisions of all leases to which it is a party as
lessee or under which it occupies property, so as to prevent any forfeiture or
material loss thereof or thereunder.

          (g) Maintenance of Insurance. The Company will maintain, with
responsible and reputable insurers, insurance with respect to its properties and
business, including maintenance of insurance on product supplied by Holder, in
such amounts and covering such risks, as is carried generally in accordance with
sound business practice by companies in similar businesses in the same
localities in which the Company is situated.

          (h) Keeping of Records and Books of Account. The Company will keep
adequate records and books of account, with complete entries made in accordance
with generally accepted accounting principles, reflecting all of its financial
and other business transactions.

          6. Events of Default and Remedies
             ------------------------------

          (a) Any one or more of the following events which shall have occurred
and be continuing shall constitute an event of default ("Event of Default"):

               (i) Default in the payment of the principal of this Note, as and
when the same shall become due; or

               (ii) The Company shall fail to perform or observe any affirmative
covenant contained in this Note and such default shall not have been remedied
within thirty (30) days after written notice thereof shall have been given by
the Holder to the Company; or

               (iii) The Company or any subsidiary (A) shall institute any
proceeding or voluntary case seeking to adjudicate it bankrupt or insolvent, or
seeking dissolution, liquidation, winding up, reorganization, arrangement,
adjustment, protection, relief or composition of it or its debts under any law
relating to bankruptcy, insolvency or reorganization or relief of debtors, or
seeking the entry of any order for relief or the appointment of a receiver,
trustee, custodian or other similar official for the Company or any subsidiary
or for any substantial part of its property, or shall consent to the

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commencement against it of such a proceeding or case, or shall file an answer in
any such case or proceeding commenced against it consenting to or acquiescing in
the commencement of such case or proceeding, or shall consent to or acquiesce in
the appointment of such a receiver, trustee, custodian or similar official; (B)
shall be unable to pay its debts as such debts become due, or shall admit in
writing its inability to apply its debts generally; (C) shall make a general
assignment for the benefit of creditors; or (D) shall take any action to
authorize or effect any of the actions set forth above in this subsection 5
(iii); or

               (iv) Any proceeding shall be instituted against the Company
seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution,
liquidation, winding up, reorganization, arrangement, adjustment, protection,
relief of debtors, or seeking the entry of an order for relief or the
appointment of a receiver, trustee, custodian or other similar official for the
Company or for any substantial part of its property, and either such proceeding
shall not have been dismissed or shall not have been stayed for a period of
sixty (60) days or any of the actions sought in such proceeding (including,
without limitation, the entry of any order for relief against it or the
appointment of a receiver, trustee, custodian or other similar official for it
or for any substantial part of its property) shall occur; or

               (v) A consolidation or merger of the Company with any other
entity or a disposition, sale or encumbrance of all or substantially all of the
Company's property or business or any transaction or series of related
transactions in which more than fifty percent (50%) of the voting power of the
Company is disposed of has occurred, unless such other merging or acquiring
entity assumes, in a legally binding document enforceable against it, the
obligations of the Company under this Note; or

               (vi) One or more final judgments or orders for the payment of
money in excess of $2,000,000 in the aggregate shall be rendered against the
Company, and either (A) enforcement proceedings shall have been commenced by any
creditor upon any such judgment or order, or (B) there shall be any period of
thirty (30) days during which enforcement of any such judgment or order shall
not be discharged, stayed or fully satisfied.

          (b) If an Event of Default described above has occurred, then the
Holder may, without further notice to the Company, declare the principal amount
of this Note at the time outstanding and all other amounts payable under this
Note to be forthwith due and payable, whereupon such principal and all such
amounts shall become and be forthwith due and payable.

          (c) The Company covenants that in case the principal of the Note
becomes due and payable by declaration or otherwise, then the Company will pay
in cash to the Holder of this Note, the whole amount that then shall have become
due and payable on this Note for principal, as the case may be, and in addition
thereto, such further amount as shall be sufficient to cover the costs and
expenses of collection, including reasonable fees and disbursements of the
Holder's legal counsel. In case the Company shall fail forthwith to pay such
amount, the Holder may commence an action or proceeding at law or in equity for

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the collection of the sums so due and unpaid, and may prosecute any such action
or proceeding to judgment or final decree against Company or other obligor upon
this Note, wherever situated, the monies adjudicated or decreed to be payable.

          7. Termination
             -----------

          This Note, and all of the obligations of the Company herein, shall
automatically terminate upon the Company's full payment to Holder of monies due
to Holder for delivery pursuant to the Agreement.

          8. Miscellaneous
             -------------

          (a) This Note has been issued by the Company pursuant to authorization
of the Board of Directors of the Company.

          (b) The Company may consider and treat the entity in whose name this
Note shall be registered as the absolute owner thereof for all purposes
whatsoever (whether or not this Note shall be overdue) and the Company shall not
be affected by any notice to the contrary. Subject to the limitations herein
stated, the registered owner of this Note shall have the right to transfer this
Note by assignment, and the transferee thereof shall, upon his registration as
owner of this Note, become vested with all the powers and rights of the
transferor. Registration of any new owners shall take place upon presentation of
this Note to the Company at its principal offices, together with a duly
authenticated assignment. In case of transfer by operation of law, the
transferee agrees to notify the Company of such transfer and of his address, and
to submit appropriate evidence regarding the transfer so that this Note may be
registered in the name of the transferee. This Note is transferable only on the
books of the Company by the holder hereof, in person or by attorney, on the
surrender hereof, duly endorsed. Communications sent to any registered owner
shall be effective as against all holders or transferees of the Note not
registered at the time of sending the communication.

          (c) Payments of principal and interest shall be made as specified
above to the registered owner of this Note. No interest shall be due on this
Note for such period of time that may elapse between the maturity of this Note
and its presentation for payment.

          (d) The Holder shall not, by virtue hereof, be entitled to any rights
of a shareholder in the Company, whether at law or in equity, and the rights of
the Holder are limited to those expressed in this Note.

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          (e) Upon receipt by the Company of evidence reasonably satisfactory to
it of the loss, theft, destruction or mutilation of this Note, and (in the case
of loss, theft or destruction) of reasonably satisfactory indemnification, and
upon surrender and cancellation of this Note, if mutilated, the Company shall
execute and deliver a new Note of like tenor and date.

          (f) This Note shall be construed and enforced in accordance with the
laws of the State of California. The Company and the Holder hereby consent to
the jurisdiction of the Courts of the State of California and the United States
District Courts situated therein in connection with any action concerning the
provisions of this Note instituted by the Holder against the Company.

                                       51

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     IN WITNESS WHEREOF, Globus Wireless, Ltd., Inc. has caused this Note to be
signed in its name by its Chief Executive Officer.

                                            GLOBUS WIRELESS, LTD.

                                            By:
                                               -------------------------------
                                                 Bernie Penner
                                                 Chief Executive Officer

                                       52Exhibit 10.12

                               SECURITY AGREEMENT

     THIS SECURITY AGREEMENT (this "Agreement") is entered into as of the 18th
day of October, by and between Globus Wireless, Ltd.., a Nevada corporation (the
"Debtor") and Aztec Components, Inc., a California corporation (the "Secured
Party").

     1. Creation of Security Interest. In consideration for one or more loans,
advances, or other financial accommodations at any time before, at or after the
date hereof made or extended by the Secured Party to or for the account of the
Debtor, directly or indirectly, as principal, guarantor or otherwise, including
without limitation the loan and other accommodations incident to that certain
Secured Convertible Promissory Note dated October 18, 2000 in the principal
amount of up to Five Million Dollars ($5,000,000) between the Debtor and the
Secured Party (the "Note") and that certain Agreement for Sale of Manufactured
Goods, dated October 18, 2000 between the Debtor and the Secured Party (the
"Sale Agreement"), the Debtor hereby grants to Secured Party a continuing first
priority security interest in the Collateral described in Section 2, to secure
the prompt payment, performance and observance of any and all indebtedness,
liabilities, obligations and agreements of any kind of the Debtor to Secured
Party, however evidenced, whether as principal, surety, endorser, guarantor or
otherwise, whether now existing or hereafter arising, whether direct or
indirect, absolute or contingent, joint or several, due or not due, primary or
secondary, liquidated or unliquidated, secured or unsecured, original, renewed
or extended, whether arising under any guarantee, endorsement or undertaking
which the Secured Party may make or issue to others for the Debtor's account,
whether arising directly or acquired from others, and of all agreements,
documents and instruments evidencing any of the foregoing or under which any of
the foregoing may have been issued, created, assumed or guaranteed, including
without limitation, charges, commissions, interests, expenses, fees, costs and
reasonable attorneys' fees chargeable to Secured Party in connection with any or
all of the foregoing (all of the foregoing being herein referred to, jointly and
severally, as the "Obligations").

     2. Description of Collateral. The Collateral is described as follows:
        -------------------------

        a) 110,000 Motorola Vader V-3620 Handset boxed units;

        b) 340,000 Motorola Profile-300 Handset boxed units;

        c) 280,000 Motorola DPC-650 Handset boxed units; and

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<PAGE>

        (d) All proceeds of any kind of any and all of the foregoing and, to the
extent not otherwise included, all payments under insurance, or any indemnity,
warranty or guaranty, payable by reason of loss of or damage to any of the
foregoing.

     3. Term of Security Agreement. This Agreement shall continue, and Secured
Party shall retain its security interest in the Collateral, until (a) payment in
full of all amounts due under or by virtue of the Note, the Sale Agreement and
any provision of this Agreement, and (b) the full performance and discharge of
all Obligations.

     4. Representations and Warranties. The Debtor represents and warrants to
the Secured Party that (a) the Debtor owns or will own the Collateral free and
clear of all liens, charges, options, encumbrances, rights or interests of
others of any kind except the security interest created by this Agreement, (b)
the Debtor has the absolute and unrestricted right, power, authority and
capacity to execute and deliver the Note and the Sale Agreement and to grant a
security interest in the Collateral in accordance with the terms of this
Agreement, (c) the Debtor will perform all acts necessary to maintain, preserve
and protect the Collateral, and will pay, prior to delinquency, any taxes,
charges or liens imposed or assessed upon the Collateral, (d) the Debtor will
observe and comply with all applicable laws, rules and regulations in its use of
the Collateral, except where the failure to do so does not materially adversely
affect the Debtor, its business, assets or prospects, (e) this Agreement and the
consummation of the transactions contemplated hereunder creates a valid and
perfected security interest in the Collateral, securing payment and performance
of the Obligations, (f) the Debtor will not assign, sell, lease, transfer,
pledge, hypothecate or otherwise dispose of, or encumber or permit any lien on
the Collateral, except for Debtor right to sell Collateral in the normal course
of its business which Secured Party acknowledges, nor will the Debtor suffer or
permit any of the same to occur with respect to the Collateral, without prior
written notice and consent of the Secured Party, and (g) the Debtor has made,
and will continue to make payment or deposit, or otherwise has provided and will
provide for the payment, when due, of all taxes, assessments or contributions or
other public or private charges which have been or may be levied or assessed
against the Debtor with respect to the Collateral.

     5. Default. The occurrence of any one of the following events or conditions
shall constitute a default under this Agreement:

          (a) the Debtor fails to make any payment of principal under the Note
     within ten (10) days after the same becomes due and payable, which default
     is not cured within thirty (30) days after written notice thereof, or any
     other default under the terms of the Note;

          (b) the Debtor fails to make any payment owing under the Sale
     Agreement within twenty (20) days after the same becomes due and payable,
     which default is not cured within thirty (30) days after written notice
     thereof, or any other default under the terms of the Sale Agreement;

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          (c) the Debtor fails to perform or observe any other material
     provision contained in the Note or the Sale Agreement, or any other
     agreement executed in connection with the transactions contemplated by the
     Note or the Sale Agreement, and such default continues for a period of
     thirty (30) days after receipt of written notice thereof;

          (d) any representation or warranty made in this Agreement, or in any
     writing furnished by the Debtor to the Secured Party, is false or
     misleading (taken as a whole) in any materially adverse respect on the date
     made or furnished; or

          (e) the Debtor makes an assignment for the benefit of creditors or
     admits in writing its inability to pay its debts as they become due; or an
     order, judgment or decree is entered adjudicating the Debtor to be bankrupt
     or insolvent under the federal Bankruptcy Code; or the Debtor petitions or
     applies for the appointment of a custodian, trustee, receiver or liquidator
     of the Debtor, or any substantial parts of the assets of the Debtor; or
     commences any proceeding relating to the Debtor under any bankruptcy
     reorganization, arrangement, insolvency, readjustment of debt, dissolution
     or liquidation law of any jurisdiction; or any such petition or application
     is filed, or any such proceeding commenced, against the Debtor and either
     (A) the Debtor by any act indicates its approval thereof or (B) such
     petition, application or proceeding is not dismissed within 60 days.

     6. Secured Party's Remedies. Upon default as specified in section 5,
Secured Party may, at its option, exercise any one or more of the following
rights:

          (a) declare all unpaid principal and any other amounts owed under the
     Note immediately due and payable;

          (b) exercise its rights and remedies under the California Commercial
     Code or any other applicable law as a secured creditor having a security
     interest in the Collateral, and in particular, sell all or any part of the
     Collateral at one or more public or private sales, on at least thirty (30)
     days' prior notice and otherwise in a commercially reasonable manner and
     upon reasonable terms and conditions, taking into account all the
     circumstances; and

          (c) exercise any and all further rights or remedies of Secured Party
     under the California Commercial Code or any other applicable law.

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     To the extent permitted by law, Debtor hereby waives all requirements for
the exercise of any of Secured Party's remedies other than those provided in
this Agreement. Secured Party shall be entitled to enforce any of the remedies
in this section successively or concurrently. The enforcement of any remedy
provided in this section shall not prejudice the right of Secured Party to
pursue any other or further remedy which it may have.

     7. Disposition of Proceeds of Sale of Collateral. Secured Party may retain
from the proceeds of any sale of the Collateral provided for in Section 6 an
amount sufficient to pay any and all amounts due Secured Party under the Note,
the Sale Agreement or this Agreement, together with all costs and expenses of
preparing for, promoting, conducting and closing the sale, including reasonable
attorneys' fees. Secured Party shall then pay any balance of the proceeds to the
Debtor, except as otherwise provided by law, subject to the rights of the holder
of any then existing lien of which Secured Party has notice.

     8. Estoppel or Waiver. In addition to the specific provisions of Section 6,
Secured Party shall have the right to exercise or to refrain from exercising any
rights, powers or remedies under the Note or this Agreement successively or
concurrently, and this shall not operate to estop or prevent Secured Party from
exercising any further or additional right, power or remedy it may have. No act
or failure to act on the part of Secured Party under this Agreement shall be
deemed or construed to be a waiver of or an election with respect to any right,
power or remedy Secured Party has under this Agreement, the Note or the Sale
Agreement or that may otherwise be available to Secured Party.

     9. Further Cooperation. The Debtor agrees that upon reasonable request by
Secured Party, the Debtor will promptly execute and deliver any documents, and
take all additional actions reasonably deemed necessary or desirable by Secured
Party to effect the purposes of this Agreement.

     10. Financing Statement.
         -------------------

          (a) Concurrently with the execution and delivery of this Agreement,
     the Debtor shall execute and deliver a financing statement on Form UCC-1
     with respect to the Collateral and shall cause said financing statement to
     be filed with the Uniform Commercial Code Division of the Office of the
     Nevada Secretary of State and any other office in any jurisdiction, as
     necessary to perfect the Collateral. From time to time, as reasonably
     requested by Secured Party, the Debtor shall execute and deliver to Secured
     Party such additional documents and instruments as may be necessary to
     perfect and maintain Secured Party's security interest in the Collateral.

          (b) Upon termination of the security interest provided for herein,
     Secured Party shall promptly execute and deliver to the Debtor any and all
     documents (including a termination statement in a form suitable for filing
     under the Uniform Commercial Code of the State of Nevada) which the Debtor
     may deem to be necessary or appropriate in order to adequately evidence the
     termination of such security interest.

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     11. Severability. If any provision of this Agreement is determined to be
invalid or unenforceable, all of the other provisions of this Agreement shall
nevertheless remain in full force and effect.

     12. Notices. All notices, requests and other communications required or
permitted under this Agreement shall be in writing and may be delivered
personally or sent by first class mail, postage prepaid and addressed as
follows:

         To the Debtor:             Globus Wireless, Ltd.
                                    1955 Moss Court
                                    Kelowna, British Columbia V1Y 9L3

         To the Secured Party:      Aztec Components, Inc.
                                    39 Argonaut, Suite 150
                                    Aliso Viejo, California 92656

Any notice, request or other communication under this Agreement shall be
effective when received by the addressee, but if sent by registered or certified
mail postage prepaid and addressed as provided above, it shall be effective
exactly five (5) business days after deposit in the United States Mail anywhere
in the United States. The parties may change their addresses as listed above by
giving notice of the new address to the other party in conformity with this
Section.

     13. Binding Upon Successors. This Agreement shall inure to the benefit of
and be binding upon the successors and assigns of the parties.

     14. Entire Agreement. This Agreement, together with the Note, the Sale
Agreement and any related documents dated of even date herewith and any
financing statement executed in connection with this Agreement, is intended by
the parties as the final, complete and exclusive expression of the terms and
conditions of their agreement, and supersedes all prior agreements and
representations.

     15. Captions. The captions accompanying each Section of this Agreement are
for convenience only and shall not be deemed part of the context of this
Agreement.

     16. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of California.

                                       57

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     17. Counterparts. This Agreement may be executed in counterparts, including
electronically transmitted counterparts, each of which shall be deemed to be an
original and shall be binding on any person who has signed it.

         IN WITNESS WHEREOF,  the parties have executed this Agreement as of the
day and year first above written.

"SECURED PARTY"                             "DEBTOR"

AZTEC COMPONENTS, INC.                      GLOBUS WIRELESS, LTD.

By:                                         By:
  ------------------------------               -------------------------------

                                               Bernie Penner, Chief Executive
  ------------------------------               Officer

                                       58

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