Document:

Security Agreement with Double U Master Fund L.P. in connection with May 2006

 Exhibit 4.3 
 SECURITY AGREEMENT 
 1. Identification. 
 This Security Agreement (the “Agreement”), dated as of May 19, 2006, is entered into by and between Celtron International Inc., a Nevada
corporation (“Parent”), Satellite Security Systems, Inc., a California corporation (“Guarantor” and together with Parent, each a “Debtor” and collectively the “Debtors”), and Double U Master Fund L.P.( the
“Lender”). 
 2. Recitals. 
 2.1 The Lender has made, is making and will be making loans to Parent (the “Loans”). It is beneficial to each Debtor that the Loans were made and are being made. 
 2.2 The Loans are and will be evidenced by certain promissory notes (each a “Note”) issued by Parent on or about the date of and after the date
of this Agreement pursuant to a subscription agreement (“Subscription Agreement”) to which Parent and Lender are parties. The Notes are further identified on Schedule A hereto and were and will be executed by Parent as “Borrower”
or “Debtor” for the benefit of each Lender as the “Holder” or “Lender” thereof. Schedule A hereto may be amended to include such other Lenders who become parties hereto and sign this Agreement, and any other agreement
reasonably requested by the Debtors and Lender, who will have purchased Notes pursuant to the Subscription Agreement. 
 2.3 In consideration
of the Loans made and to be made by Lender to Parent and for other good and valuable consideration, and as security for the performance by Parent of its obligations under the Notes and as security for the repayment of the Loans and all other sums
due from Debtors to Lender arising under the Transaction Documents (as defined in the Subscription Agreement), and any other agreement between or among them (collectively, the “Obligations”), each Debtor, for good and valuable
consideration, receipt of which is acknowledged, has agreed to grant the Lender, a security interest in the Collateral (as such term is hereinafter defined), on the terms and conditions hereinafter set forth. Obligations include all future advances
by Lender to Debtor made pursuant to the Subscription Agreement. 
 2.4 The following defined terms which are defined in the Uniform
Commercial Code in effect in the State of New York on the date hereof are used herein as so defined: Accounts, Chattel Paper, Documents, Equipment, Instruments, General Intangibles, Inventory and Proceeds. 
 3. Grant of General Security Interest in Collateral. 
 3.1 As security for the Obligations of Debtors, each Debtor hereby grants the Lender, a security interest in the Collateral. 
 3.2 “Collateral” shall mean all of the following property of Debtors: 
 (A) All now owned and hereafter acquired right, title and interest of Debtors in, to and in respect of all Accounts, Goods, real or personal property, all
present and future books and records relating to the foregoing and all products and Proceeds of the foregoing, and as set forth below: 
 (i)
All now owned and hereafter acquired right, title and interest of Debtors in, to and in respect of all: Accounts, interests in goods represented by Accounts, returned, reclaimed or repossessed goods with respect thereto and rights as an unpaid
vendor; contract rights; Chattel Paper; 
  

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 investment property; Intangibles (including but not limited to, tax and duty claims and refunds, registered and
unregistered patents, trademarks, service marks, certificates, copyrights trade names, applications for the foregoing, trade secrets, goodwill, processes, drawings, blueprints, customer lists, licenses, whether as licensor or licensee, chooses in
action and other claims, and existing and future leasehold interests in equipment, real estate and fixtures); Documents; Instruments; letters of credit, bankers’ acceptances or guarantees; cash moneys, deposits; securities, bank accounts,
deposit accounts, credits and other property now or hereafter owned or held in any capacity by Debtors, as well as agreements or property securing or relating to any of the items referred to above; 
 (ii) Goods: All now owned and hereafter acquired right, title and interest of Debtors in, to and in respect of goods, including, but not limited
to: 
 (a) All Inventory, wherever located, whether now owned or hereafter acquired, of whatever kind, nature or description, including all
raw materials, work-in-process, finished goods, and materials to be used or consumed in Debtors’ business; finished goods, timber cut or to be cut, oil, gas, hydrocarbons, and minerals extracted or to be extracted, and all names or marks
affixed to or to be affixed thereto for purposes of selling same by the seller, manufacturer, lessor or licensor thereof and all Inventory which may be returned to any Debtor by its customers or repossessed by any Debtor and all of Debtors’
right, title and interest in and to the foregoing (including all of a Debtor’s rights as a seller of goods); 
 (b) All Equipment and
fixtures, wherever located, whether now owned or hereafter acquired, including, without limitation, all machinery, furniture and fixtures, and any and all additions, substitutions, replacements (including spare parts), and accessions thereof and
thereto (including, but not limited to Debtors’ rights to acquire any of the foregoing, whether by exercise of a purchase option or otherwise); 
 (iii) Property: All now owned and hereafter acquired right, title and interests of Debtors in, to and in respect of any other personal property in or upon which a Debtor has or may hereafter have a security
interest, lien or right of setoff; 
 (iv) Books and Records: All present and future books and records relating to any of the above
including, without limitation, all computer programs, printed output and computer readable data in the possession or control of the Debtors, any computer service bureau or other third party; and 
 (v) Products and Proceeds: All products and Proceeds of the foregoing in whatever form and wherever located, including, without limitation, all
insurance proceeds and all claims against third parties for loss or destruction of or damage to any of the foregoing. 
 (B) All now owned
and hereafter acquired right, title and interest of Debtors in, to and in respect of the following: 
 (i) the shares of stock, partnership
interests, member interests or other equity interests at any time and from time to time acquired by Debtors of any and all entities now or hereafter existing, (such entities, being hereinafter referred to collectively as the “Pledged
Issuers” and individually as a “Pledged Issuer”), the certificates representing such shares, partnership interests, member interests or other interests all options and other rights, contractual or otherwise, in respect thereof and all
dividends, distributions, cash, instruments, investment property and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares, partnership interests, member interests
or other interests; 
  

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 (ii) all additional shares of stock, partnership interests, member interests or other equity interests
from time to time acquired by Debtors, of any Pledged Issuer, the certificates representing such additional shares, all options and other rights, contractual or otherwise, in respect thereof and all dividends, distributions, cash, instruments,
investment property and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such additional shares, interests or equity; and 
 (iii) all security entitlements of Debtors in, and all Proceeds of any and all of the foregoing in each case, whether now owned or hereafter acquired by
a Debtor and howsoever its interest therein may arise or appear (whether by ownership, security interest, lien, claim or otherwise). 
 Notwithstanding anything to the contrary contained herein or any Transaction Document, Collateral shall not include any personal property which is, or at the time of a Debtor’s acquisition thereof shall be subject to a purchase money
mortgage or other purchase money lien or security interest (including capital leases). 
 3.3 The Lender is hereby specifically authorized,
after the Maturity Date (defined in the Notes) accelerated or otherwise, or after an Event of Default (as defined herein) and the expiration of any applicable cure period, to transfer any Collateral into the name of the Lender and to take any and
all action deemed advisable to the Lender to remove any transfer restrictions affecting the Collateral. 
 4. Perfection
and Attachment of Security Interest. 
 4.1 Each Debtor shall prepare, execute and deliver to the Lender UCC-1 Financing Statements. The
Lender is instructed to prepare and file at each Debtor’s cost and expense, financing statements in the State of Incorporation of each Debtor. The Financing Statements are deemed to have been filed for the benefit of the Lenders identified on
Schedule A hereto. 
 4.2 The Parent shall deliver to the Lender promptly stock certificates representing all of the shares of outstanding
capital stock of the Guarantor (the “Securities”). All such certificates shall be held by or on behalf of the Lender pursuant hereto and shall be delivered in suitable form for transfer by delivery, or shall be accompanied by duly executed
instruments of transfer or assignment or undated stock powers executed in blank, all in form and substance satisfactory to the Lender. 
 4.3
All other certificates and instruments constituting Collateral from time to time required to be pledged to the Lender pursuant to the terms hereof (the “Additional Collateral”) shall be delivered to the Lender promptly upon receipt thereof
by or on behalf of Debtors. All such certificates and instruments shall be held by or on behalf of the Lender pursuant hereto and shall be delivered in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of
transfer or assignment or undated stock powers executed in blank, all in form and substance satisfactory to the Lender. If any Collateral consists of uncertificated securities, unless the immediately following sentence is applicable thereto, Debtors
shall cause the Lender (or its custodian, nominee or other designee) to become the registered holder thereof, or cause each issuer of such securities to agree that it will comply with instructions originated by the Lender with respect to such
securities without further consent by Debtors. If any Collateral consists of security entitlements, Debtors shall transfer such security entitlements to the Lender (or its custodian, nominee or other designee) or cause the applicable securities
intermediary to agree that it will comply with entitlement orders by the Lender without further consent by Debtors. 
 4.4 Within five
(5) days after the receipt by a Debtor of any Additional Collateral, a Pledge Amendment, duly executed by such Debtor, in substantially the form of Annex I hereto (a “Pledge 
  

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 Amendment”), shall be delivered to the Lender in respect of the Additional Collateral to be pledged pursuant to this
Agreement. Each Debtor hereby authorizes the Lender to attach each Pledge Amendment to this Agreement and agrees that all certificates or instruments listed on any Pledge Amendment delivered to the Lender shall for all purposes hereunder constitute
Collateral. 
 4.5 If Debtor shall receive, by virtue of Debtor being or having been an owner of any Collateral, any (i) stock
certificate (including, without limitation, any certificate representing a stock dividend or distribution in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares, stock
split, spin-off or split-off), promissory note or other instrument, (ii) option or right, whether as an addition to, substitution for, or in exchange for, any Collateral, or otherwise, (iii) dividends payable in cash (except such dividends
permitted to be retained by Debtor pursuant to Section 5.2 hereof) or in securities or other property or (iv) dividends or other distributions in connection with a partial or total liquidation or dissolution or in connection with a
reduction of capital, capital surplus or paid-in surplus, Debtor shall receive such stock certificate, promissory note, instrument, option, right, payment or distribution in trust for the benefit of the Lender, shall segregate it from Debtor’s
other property and shall deliver it forthwith to the Lender, in the exact form received, with any necessary endorsement and/or appropriate stock powers duly executed in blank, to be held by the Lender as Collateral and as further collateral security
for the Obligations. 
 5. Distribution. 
 5.1 So long as no Event of Default exists, Debtors shall be entitled to exercise all voting power pertaining to any of the Collateral, provided such
exercise is not contrary to the interests of the Lender and does not impair the Collateral. 
 5.2. At any time an Event of Default exists or
has occurred, all rights of Debtors, upon notice given by the Lender, to exercise the voting power and receive payments, which it would otherwise be entitled to pursuant to Section 5.1, shall cease and all such rights shall thereupon become
vested in the Lender, which shall thereupon have the sole right to exercise such voting power and receive such payments. 
 5.3 All
dividends, distributions, interest and other payments which are received by Debtors contrary to the provisions of Section 5.2 shall be received in trust for the benefit of the Lender as security and Collateral for payment of the Obligations
shall be segregated from other funds of Debtors, and shall be forthwith paid over to the Lender as Collateral in the exact form received with any necessary endorsement and/or appropriate stock powers duly executed in blank, to be held by the Lender
as Collateral and as further collateral security for the Obligations. 
 6. Further Action By Debtors; Covenants and
Warranties. 
 6.1 The Lender at all times shall have a perfected security interest in the Collateral, the Securities, Additional
Collateral (the “Perfected Collateral”). Each Debtor has and will continue to have full title to the Collateral free from any liens, leases, encumbrances, judgments or other claims. The Lender’s security interest in the Collateral
constitutes and will continue to constitute a first, prior and indefeasible security interest in favor of the Lender; provided, however, that Guarantor shall be permitted to obtain a working capital line of credit from a third party commercial
lender secured by its accounts receivable to Blue Bird, Inc. in an amount up to $750,000 (the “Permitted Liens”) and the Lender agrees to execute such documents as may be necessary or appropriate to subordinate its security interest in
such accounts receivable to such commercial lender. Each Debtor will do all acts and things, and will execute and file all instruments (including, but not limited to, security agreements, financing statements, continuation statements, etc.)
reasonably requested by the Lender to establish, maintain and continue the perfected security interest of the 
  

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 Lender in the Perfected Collateral, and will promptly on demand, pay all costs and expenses of filing and recording,
including the costs of any searches reasonably deemed necessary by the Lender from time to time to establish and determine the validity and the continuing priority of the security interest of the Lender, and also pay all other claims and charges
that, in the opinion of the Lender, exercised in good faith, are reasonably likely to materially prejudice, imperil or otherwise affect the Collateral or the Lender’s security interests therein. 
 6.2 Other than in the ordinary course of business, for fair value and in cash, and except for Collateral which is substituted by assets of identical or
greater value (with the consent of the Lender) or which is inconsequential in value, each Debtor will not sell, transfer, assign or pledge those items of Collateral (or allow any such items to be sold, transferred, assigned or pledged), without the
prior written consent of the Lender other than a transfer of the Collateral to a wholly-owned United States formed and located wholly-owned subsidiary or to another Debtor on prior notice to the Lender, and provided the Collateral remains subject to
the security interest herein described. Although Proceeds of Collateral are covered by this Agreement, this shall not be construed to mean that the Lender consents to any sale of the Collateral, except as provided herein. Sales of Collateral in the
ordinary course of business shall be free of the security interest of the Lender and the Lender shall promptly execute such documents (including without limitation releases and termination statements) as may be required by Debtors to evidence or
effectuate the same. 
 6.3 Each Debtor will, at all reasonable times during regular business hours and upon reasonable notice, allow the
Lender or its representatives free and complete access to the Collateral and all of such Debtor’s records which in any way relate to the Collateral, for such inspection and examination as the Lender reasonably deems necessary. 
 6.4 Each Debtor, at its sole cost and expense, will protect and defend this Security Agreement, all of the rights of the Lender hereunder, and the
Collateral against the claims and demands of all other persons. 
 6.5 Debtors will promptly notify the Lender of any levy, distraint or
other seizure by legal process or otherwise of any part of the Collateral, and of any threatened or filed claims or proceedings that are reasonably likely to affect or impair any of the rights of the Lender under this Security Agreement in any
material respect. 
 6.6 Each Debtor, at its own expense, will obtain and maintain in force insurance policies covering losses or damage to
those items of Collateral which constitute physical personal property, which insurance shall be of the types customarily insured against by companies in the same or similar business, similarly situated, in such amounts (with such deductible amounts)
as is customary for such companies under the same or similar circumstances, similarly situated. The Lender is hereby irrevocably (until the Obligations are paid in full) appointed each Debtor’s attorney-in-fact to endorse any check or draft
that may be payable to such Debtor so that the Lender may collect the proceeds payable for any loss under such insurance. The proceeds of such insurance, less any costs and expenses incurred or paid by the Lender in the collection thereof, shall be
applied either toward the cost of the repair or replacement of the items damaged or destroyed, or on account of any sums secured hereby, whether or not then due or payable. 
 6.7 The Lender may, at its option, and without any obligation to do so, pay, perform and discharge any and all amounts, costs, expenses and liabilities
herein agreed to be paid or performed by Debtor. Upon Debtor’s failure to do so, all amounts expended by the Lender in so doing shall become part of the Obligations secured hereby, and shall be immediately due and payable by Debtor to
the Lender upon demand and shall bear interest at the lesser of 15% per annum or the highest legal amount from the dates of such expenditures until paid. 
  

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 6.8 Upon the request of the Lender, Debtors will furnish to the Lender within five (5) business days
thereafter, or to any proposed assignee of this Security Agreement, a written statement in form reasonably satisfactory to the Lender, duly acknowledged, certifying the amount of the principal and interest and any other sum then owing under the
Obligations, whether to its knowledge any claims, offsets or defenses exist against the Obligations or against this Security Agreement, or any of the terms and provisions of any other agreement of Debtors securing the Obligations. In connection with
any assignment by the Lender of this Security Agreement, each Debtor hereby agrees to cause the insurance policies required hereby to be carried by such Debtor, if any, to be endorsed in form satisfactory to the Lender or to such assignee, with loss
payable clauses in favor of such assignee, and to cause such endorsements to be delivered to the Lender within ten (10) calendar days after request therefor by the Lender. 
 6.9 Each Debtor will, at its own expense, make, execute, endorse, acknowledge, file and/or deliver to the Lender from time to time such vouchers,
invoices, schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements, powers of attorney, certificates, reports and other reasonable assurances or instruments and take further steps relating to the Collateral and
other property or rights covered by the security interest hereby granted, as the Lender may reasonably require to perfect its security interest hereunder. 
 6.10 Debtors represent and warrant that they are the true and lawful exclusive owners of the Collateral, free and clear of any liens and encumbrances other than Permitted Liens. 
 6.11 Each Debtor hereby agrees not to divest itself of any right under the Collateral except as permitted herein absent prior written approval of the
Lender, except to a subsidiary organized and located in the United States on prior notice to the Lender provided the Collateral remains subject to the security interest herein described. 
 6.12 Each Debtor shall cause each Subsidiary of such Debtor in existence on the date hereof and each Subsidiary not in existence on the date hereof to
execute and deliver to the Lender promptly and in any event within 10 days after the formation, acquisition or change in status thereof (A) a guarantee guaranteeing the Obligations and (B) if requested by the Lender, a security and pledge
agreement substantially in the form of this Agreement together with (x) certificates evidencing all of the capital stock of each Subsidiary of and any entity owned by such Subsidiary, (y) undated stock powers executed in blank with
signatures guaranteed, and (z) such opinion of counsel and such approving certificate of such Subsidiary as the Lender may reasonably request in respect of complying with any legend on any such certificate or any other matter relating to such
shares and (C) such other agreements, instruments, approvals, legal opinions or other documents reasonably requested by the Lender in order to create, perfect, establish the first priority of or otherwise protect any lien purported to be
covered by any such pledge and security agreement or otherwise to effect the intent that all property and assets of such Subsidiary shall become Collateral for the Obligations. For purposes of this Agreement, “Subsidiary” means,
with respect to any entity at any date, any corporation, limited or general partnership, limited liability company, trust, estate, association, joint venture or other business entity) of which more than 50% of (A) the outstanding capital
stock having (in the absence of contingencies) ordinary voting power to elect a majority of the board of directors or other managing body of such entity, (B) in the case of a partnership or limited liability company, the interest in the capital
or profits of such partnership or limited liability company or (C) in the case of a trust, estate, association, joint venture or other entity, the beneficial interest in such trust, estate, association or other entity business is, at the time
of determination, owned or controlled directly or indirectly through one or more intermediaries, by such entity. Annex I annexed hereto contains a list of all Subsidiaries of the Debtors as of the date of this Agreement. 
  

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 7. Power of Attorney. 
 At any time an Event of Default exists or has occurred, each Debtor hereby irrevocably constitutes and appoints the Lender as the true and lawful attorney
of such Debtor, with full power of substitution, in the place and stead of such Debtor and in the name of such Debtor or otherwise, at any time or times, in the discretion of the Lender, to take any action and to execute any instrument or document
which the Lender may deem necessary or advisable to accomplish the purposes of this Agreement. This power of attorney is coupled with an interest and is irrevocable until the Obligations are satisfied. 
 8. Performance By The Lender. 
 If a Debtor fails to perform any material covenant, agreement, duty or obligation of such Debtor under this Agreement, the Lender may, after any applicable cure period, at any time or times in its discretion, take
action to effect performance of such obligation. All reasonable expenses of the Lender incurred in connection with the foregoing authorization shall be payable by Debtors as provided in Paragraph 12.1 hereof. No discretionary right, remedy or power
granted to the Lender under any part of this Agreement shall be deemed to impose any obligation whatsoever on the Lender with respect thereto, such rights, remedies and powers being solely for the protection of the Lender. 
 9. Event of Default. 
 An event of default (“Event of Default”) shall be deemed to have occurred hereunder upon the occurrence of any event of default as defined and described in this Agreement, in the Notes, the Subscription Agreement, and any other
agreement to which Debtor and a Lender are parties. Upon and after any Event of Default, after the applicable cure period, if any, any or all of the Obligations shall become immediately due and payable at the option of the Lender, and the Lender may
dispose of Collateral as provided below. A default by Debtor of any of its material obligations pursuant to this Agreement and any of the Transaction Documents (as defined in the Subscription Agreement) shall be an Event of Default hereunder and an
“Event of Default” as defined in the Notes, and Subscription Agreement. 
 10. Disposition of Collateral.

 Upon and after any Event of Default which is then continuing, 
 10.1 The Lender may exercise its rights with respect to each and every component of the Collateral, without regard to the existence of any other security
or source of payment for the Obligations. In addition to other rights and remedies provided for herein or otherwise available to it, the Lender shall have all of the rights and remedies of a lender on default under the Uniform Commercial Code then
in effect in the State of New York. 
 10.2 If any notice to Debtors of the sale or other disposition of Collateral is required by then
applicable law, ten business (10) days prior written notice (which Debtors agree is reasonable notice within the meaning of Section 9.612(a) of the Uniform Commercial Code) shall be given to Debtors of the time and place of any sale of
Collateral which Debtors hereby agree may be by private sale. The rights granted in this Section are in addition to any and all rights available to Lender under the Uniform Commercial Code. 
 10.3 The Lender is authorized, at any such sale, if the Lender deems it advisable to do so, in order to comply with any applicable securities laws, to
restrict the prospective bidders or purchasers to persons who will represent and agree, among other things, that they are purchasing the Collateral for their own account for investment, and not with a view to the distribution or resale thereof, or
otherwise to restrict such sale in such other manner as the Lender deems advisable to ensure such compliance. Sales made subject to such restrictions shall be deemed to have been made in a commercially reasonable manner. 
  

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 10.4 All proceeds received by the Lender in respect of any sale, collection or other enforcement or
disposition of Collateral, shall be applied (after deduction of any amounts payable to the Lender pursuant to Paragraph 12.1 hereof) against the Obligations. Upon payment in full of all Obligations, Debtors shall be entitled to the return of all
Collateral, including cash, which has not been used or applied toward the payment of Obligations or used or applied to any and all costs or expenses of the Lender incurred in connection with the liquidation of the Collateral (unless another person
is legally entitled thereto). Any assignment of Collateral by the Lende to Debtors shall be without representation or warranty of any nature whatsoever and wholly without recourse. To the extent allowed by law, Lender may purchase the Collateral and
pay for such purchase by offsetting the purchase price with sums owed to Lender by Debtors arising under the Obligations or any other source. 
 11.
Waiver of Automatic Stay. Debtor acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against Debtor, or if any of the Collateral should become the subject of any bankruptcy or insolvency
proceeding, then the Lender should be entitled to, among other relief to which the Lender may be entitled under the Note, Subscription Agreement and any other agreement to which the Debtor and Lender are parties, (collectively “Loan
Documents”) and/or applicable law, an order from the court granting immediate relief from the automatic stay pursuant to 11 U.S.C. Section 362 to permit the Lender to exercise all of its rights and remedies pursuant to the Loan Documents
and/or applicable law. DEBTOR EXPRESSLY WAIVES THE BENEFIT OF THE AUTOMATIC STAY IMPOSED BY 11 U.S.C. SECTION 362. FURTHERMORE, DEBTOR EXPRESSLY ACKNOWLEDGES AND AGREES THAT NEITHER 11 U.S.C. SECTION 362 NOR ANY OTHER SECTION OF THE BANKRUPTCY CODE
OR OTHER STATUTE OR RULE (INCLUDING, WITHOUT LIMITATION, 11 U.S.C. SECTION 105) SHALL STAY, INTERDICT, CONDITION, REDUCE OR INHIBIT IN ANY WAY THE ABILITY OF THE LENDER TO ENFORCE ANY OF ITS RIGHTS AND REMEDIES UNDER THE LOAN DOCUMENTS AND/OR
APPLICABLE LAW. Debtor hereby consents to any motion for relief from stay which may be filed by the Lender in any bankruptcy or insolvency proceeding initiated by or against Debtor, and further agrees not to file any opposition to any motion for
relief from stay filed by the Lender. Debtor represents, acknowledges and agrees that this provision is a specific and material aspect of this Agreement, and that the Lender would not agree to the terms of this Agreement if this waiver were not a
part of this Agreement. Debtor further represents, acknowledges and agrees that this waiver is knowingly, intelligently and voluntarily made, that neither the Lender nor any person acting on behalf of the Lender has made any representations to
induce this waiver, that Debtor has been represented (or has had the opportunity to be represented) in the signing of this Agreement and in the making of this waiver by independent legal counsel selected by Debtor and that Debtor has had the
opportunity to discuss this waiver with counsel. 
 12. Miscellaneous. 
 12.1 Expenses. Debtors shall pay to the Lender, on demand, the amount of any and all reasonable expenses, including, without limitation,
attorneys’ fees, legal expenses and brokers’ fees, which the Lender may incur in connection with (a) sale, collection or other enforcement or disposition of Collateral; (b) exercise or enforcement of any the rights, remedies or
powers of the Lender hereunder or with respect to any or all of the Obligations upon breach or threatened breach; or (c) failure by Debtors to perform and observe any agreements of Debtors contained herein which are performed by the Lender.

 12.2 Waivers, Amendment and Remedies. No course of dealing by the Lender and no failure by the Lender to exercise, or delay by the
Lender in exercising, any right, remedy or power hereunder shall operate as a waiver thereof, and no single or partial exercise thereof shall preclude any other or further 
  

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 exercise thereof or the exercise of any other right, remedy or power of the Lender. No amendment, modification or waiver
of any provision of this Agreement and no consent to any departure by Debtors therefrom, shall, in any event, be effective unless contained in a writing signed by the Lender, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given. The rights, remedies and powers of the Lender, not only hereunder, but also under any instruments and agreements evidencing or securing the Obligations and under applicable law are cumulative,
and may be exercised by the Lender from time to time in such order as the Lender may elect. 
 12.3 Notices. All notices or other
communications given or made hereunder shall be in writing and shall be personally delivered or deemed delivered the first business day after being faxed (provided that a copy is delivered by first class mail) to the party to receive the same at its
address set forth below or to such other address as either party shall hereafter give to the other by notice duly made under this Section: 
  

			
	To Debtors:	 	Celtron International Inc.
		 	6779 Mesa Ridge Road
		 	San Diego, CA 92121
		 	Attn: John L. Phillips, President
		 	Fax: (858) 638-4159
		
	With a copy by telecopier only to:	 	
		
		 	Duane Morris LLP
		 	101 West Broadway, Suite 900
		 	San Diego, CA 92101
		 	Attn: James A. Mercer III, Esq.
		 	Fax: (619) 744-2201
		
	To Lender:	 	Double U. Master Fund L.P.
		 	c/o Navigator Management Ltd.
		 	Harbor House, Waterfront Drive
		 	P.O. Box 972
		 	Road Town, Tortola, British Virgin Islands.
		
	With a copy by telecopier only to:	 	
		
		 	Grushko & Mittman, P.C.
		 	551 Fifth Avenue, Suite 1601
		 	New York, New York 10176
		 	Fax: (212) 697-3575

 Any party may change its address by written notice in accordance with this paragraph. 
 12.4 Term; Binding Effect. This Agreement shall (a) remain in full force and effect until payment and satisfaction in full of all of the
Obligations; (b) be binding upon each Debtor, and its successors and permitted assigns; and (c) inure to the benefit of the Lender and its successors and assigns. 
 12.5 Captions. The captions of Paragraphs, Articles and Sections in this Agreement have been included for convenience of reference only, and shall
not define or limit the provisions hereof and have no legal or other significance whatsoever. 
  

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 12.6 Governing Law; Venue; Severability. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York without regard to conflicts of laws principles that would result in the application of the substantive laws of another jurisdiction, except to the extent that the perfection of the security interest
granted hereby in respect of any item of Collateral may be governed by the law of another jurisdiction. Any legal action or proceeding against a Debtor with respect to this Agreement may be brought in the courts in the State of New York or of the
United States for the Southern District of New York, and, by execution and delivery of this Agreement, each Debtor hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid
courts. Each Debtor hereby irrevocably waives any objection which they may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Agreement brought in the aforesaid
courts and hereby further irrevocably waives and agrees not to plead or claim in any such court that any such action or proceeding brought in any such court has been brought in an inconvenient forum. If any provision of this Agreement, or the
application thereof to any person or circumstance, is held invalid, such invalidity shall not affect any other provisions which can be given effect without the invalid provision or application, and to this end the provisions hereof shall be
severable and the remaining, valid provisions shall remain of full force and effect. 
 12.7 Entire Agreement. This Agreement contains
the entire agreement of the parties and supersedes all other agreements and understandings, oral or written, with respect to the matters contained herein. 
 12.8 Counterparts/Execution. This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts, each of which, when so executed, shall be deemed an
original, but all such counterparts shall constitute but one and the same instrument. This Agreement may be executed by facsimile signature and delivered by facsimile transmission. 
 13. Termination; Release. When the Obligations have been indefeasibly paid and performed in full or all outstanding Notes have paid in full pursuant to the terms of the Notes and the Subscription Agreements,
this Agreement shall terminated, and the Lender, at the request and sole expense of the Debtors, will execute and deliver to the Debtors the proper instruments (including UCC termination statements, if so required) acknowledging the termination of
the Security Agreement, and duly assign, transfer and deliver to the Debtors, without recourse, representation or warranty of any kind whatsoever, such of the Collateral, including, without limitation, Securities and any Additional Collateral, as
may be in the possession of the Lender. 
 [THIS SPACE INTENTIONALLY LEFT BLANK] 
  

 10 

 IN WITNESS WHEREOF, the undersigned have executed and delivered this Security Agreement, as of the
date first written above. 
  

			
	“DEBTOR”
	 CELTRON INTERNATIONAL INC.
 a Nevada
corporation

		
	By:	 	 /s/ John Phillips

	Its:	 	Chief Executive Officer
	
	“SUBSIDIARY”
	 SATELLITE SECURITY SYSTEMS, INC.
 a
California corporation

		
	By:	 	  

		
	Its:	 	  

 APPROVED BY “LENDERS”: 
  

			
	_________________________________________________	 	_________________________________________________
		
	_________________________________________________	 	_________________________________________________
		
	_________________________________________________	 	_________________________________________________
		
	_________________________________________________	 	_________________________________________________

 This Security Agreement may be signed by facsimile signature and 
 delivered by confirmed facsimile transmission. 
  

 11 

 SCHEDULE A TO SECURITY AGREEMENT 
  

				
	 LENDER
	  	NOTE PRINCIPAL
	 Double U Master Fund L.P.
	  	$	540,000

  

 12 

 ANNEX I 
 TO 
 SECURITY AGREEMENT 
 PLEDGE AMENDMENT 
 This Pledge Amendment, dated May     2006, is delivered
pursuant to Section 4.3 of the Security Agreement referred to below. The undersigned hereby agrees that this Pledge Amendment may be attached to the Security Agreement, dated May     , 2006, as it may heretofore have
been or hereafter may be amended, restated, supplemented or otherwise modified from time to time and that the shares listed on this Pledge Amendment shall be hereby pledged and assigned to Collateral Agent and become part of the Collateral referred
to in such Security Agreement and shall secure all of the Obligations referred to in such Security Agreement. 
  

							
	 Name of Issuer
	  	 Number
 of Shares
	  	Class	  	Certificate
Number(s)
	 Satellite Security Systems, Inc.
	  	1,000	  	Common Stock	  	27

  

			
	 CELTRON INTERNATIONAL INC.

		
	 By:
	 	  

  

 13Class A Warrant Agreement issued to Double U Master Fund L.P.

 Exhibit 4.4 
 THIS WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO CELTRON INTERNATIONAL INC. THAT SUCH REGISTRATION IS NOT REQUIRED. 
  

			
	 	 	 Right to Purchase 540,000 shares of Common Stock of
 Celtron International Inc. (subject to adjustment as provided
 herein)

 CLASS A COMMON STOCK PURCHASE WARRANT 
  

			
	No. 2006-A-001	 	Issue Date: May 19, 2006

 CELTRON INTERNATIONAL INC., a corporation organized under the laws of the State of Nevada (the
“Company”), hereby certifies that, for value received, DOUBLE U MASTER FUND LP, c/o Navigator Management Ltd., Harbor House, Waterfront Drive, P.O. Box 972, Road Town, Tortola, British Virgin Islands, Fax: (284-) 494-4771 or its assigns
(the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company at any time after the Issue Date until 5:00 p.m., E.S.T on the third (3rd) anniversary of the Closing Date (as defined in Section 2 of the Subscription Agreement (the “Expiration Date”), 540,000 fully paid and
nonassessable shares of Common Stock at a per share purchase price of $0.25. The aforedescribed purchase price per share, as adjusted from time to time as herein provided, is referred to herein as the “Purchase Price.” The number and
character of such shares of Common Stock and the Purchase Price are subject to adjustment as provided herein. The Company may reduce the Purchase Price without the consent of the Holder. Capitalized terms used and not otherwise defined herein shall
have the meanings set forth in that certain Subscription Agreement (the “Subscription Agreement”), dated May 19, 2006, entered into by the Company and Holders of the Warrants. 
 As used herein the following terms, unless the context otherwise requires, have the following respective meanings: 
 (a) The term “Company” shall include Celtron International Inc. and any corporation which shall succeed or assume the obligations of Celtron
International Inc. hereunder. 
 (b) The term “Common Stock” includes (a) the Company’s Common Stock, $0.001 par value
per share, as authorized on the date of the Subscription Agreement, and (b) any other securities into which or for which any of the securities described in (a) may be converted or exchanged pursuant to a plan of recapitalization,
reorganization, merger, sale of assets or otherwise. 
 (c) The term “Other Securities” refers to any stock (other than Common
Stock) and other securities of the Company or any other person (corporate or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have received, on the exercise of the Warrant, in lieu of or in addition to
Common Stock, or which at any time shall be issuable or shall have been issued in exchange for or in replacement of Common Stock or Other Securities pursuant to Section 5 or otherwise. 

 (d) The term “Warrant Shares” shall mean the Common Stock issuable upon exercise of this
Warrant. 
 1. Exercise of Warrant. 
 1.1 Number of Shares Issuable upon Exercise. From and after the Issue Date through and including the Expiration Date, the Holder hereof shall be entitled to receive, upon exercise of this Warrant in whole in
accordance with the terms of subsection 1.2 or upon exercise of this Warrant in part in accordance with subsection 1.3, shares of Common Stock of the Company, subject to adjustment pursuant to Sections 3 and 4. 
 1.2 Full Exercise. This Warrant may be exercised in full by the Holder hereof by delivery of an original or facsimile copy of the form of
subscription attached as Exhibit A hereto (the “Subscription Form”) duly executed by such Holder and surrender of the original Warrant within four (4) days of exercise, to the Company at its principal office or at the office of
its Warrant Agent (as provided hereinafter), accompanied by payment, in cash, wire transfer or by certified or official bank check payable to the order of the Company, in the amount obtained by multiplying the number of shares of Common Stock for
which this Warrant is then exercisable by the Purchase Price then in effect. 
 1.3 Partial Exercise. This Warrant may be exercised in
part (but not for a fractional share) by surrender of this Warrant in the manner and at the place provided in subsection 1.2 except that the amount payable by the Holder on such partial exercise shall be the amount obtained by multiplying
(a) the number of whole shares of Common Stock designated by the Holder in the Subscription Form by (b) the Purchase Price then in effect. On any such partial exercise, the Company, at its expense, will forthwith issue and deliver to or
upon the order of the Holder hereof a new Warrant of like tenor, in the name of the Holder hereof or as such Holder (upon payment by such Holder of any applicable transfer taxes) may request, the whole number of shares of Common Stock for which such
Warrant may still be exercised. 
 1.4 Fair Market Value. Fair Market Value of a share of Common Stock as of a particular date (the
“Determination Date”) shall mean: 
 (a) If the Company’s Common Stock is traded on an exchange or is quoted on the National
Association of Securities Dealers, Inc. Automated Quotation (“NASDAQ”), National Market System, the NASDAQ Capital Market or the American Stock Exchange, LLC, then the closing or last sale price, respectively, reported for the last
business day immediately preceding the Determination Date; 
 (b) If the Company’s Common Stock is not traded on an exchange or on the
NASDAQ National Market System, the NASDAQ Capital Market or the American Stock Exchange, LLC, but is traded in the over-the-counter market, then the average of the closing bid and ask prices reported for the last business day immediately preceding
the Determination Date; 
 (c) Except as provided in clause (d) below, if the Company’s Common Stock is not publicly traded, then
as the Holder and the Company agree, or in the absence of such an agreement, by arbitration in accordance with the rules then standing of the American Arbitration Association, before a single arbitrator to be chosen from a panel of persons qualified
by education and training to pass on the matter to be decided; or 
 (d) If the Determination Date is the date of a liquidation, dissolution
or winding up, or any event deemed to be a liquidation, dissolution or winding up pursuant to the Company’s charter, then all amounts to be payable per share to holders of the Common Stock pursuant to the charter in the event of such
liquidation, dissolution or winding up, plus all other amounts to be payable per share 
  

 2 

 in respect of the Common Stock in liquidation under the charter, assuming for the purposes of this clause (d) that
all of the shares of Common Stock then issuable upon exercise of all of the Warrants are outstanding at the Determination Date. 
 1.5
Company Acknowledgment. The Company will, at the time of the exercise of the Warrant, upon the request of the Holder hereof acknowledge in writing its continuing obligation to afford to such Holder any rights to which such Holder shall
continue to be entitled after such exercise in accordance with the provisions of this Warrant. If the Holder shall fail to make any such request, such failure shall not affect the continuing obligation of the Company to afford to such Holder any
such rights. 
 1.6 Trustee for Warrant Holders. In the event that a qualified bank or trust company shall have been appointed as
trustee for the Holder of the Warrants pursuant to Subsection 3.2, such bank or trust company shall have all the powers and duties of a warrant agent (as hereinafter described) and shall accept, in its own name for the account of the Company or
such successor person as may be entitled thereto, all amounts otherwise payable to the Company or such successor, as the case may be, on exercise of this Warrant pursuant to this Section 1. 
 1.7 Delivery of Stock Certificates, etc. on Exercise. The Company agrees that the shares of Common Stock purchased upon exercise of this Warrant
shall be deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business on the date on which this Warrant shall have been surrendered and payment made for such shares as aforesaid. As soon as practicable
after the exercise of this Warrant in full or in part, and in any event within three (3) business days thereafter, the Company at its expense (including the payment by it of any applicable issue taxes) will cause to be issued in the name of and
delivered to the Holder hereof, or as such Holder (upon payment by such Holder of any applicable transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number of duly and validly issued, fully
paid and nonassessable shares of Common Stock (or Other Securities) to which such Holder shall be entitled on such exercise, plus, in lieu of any fractional share to which such Holder would otherwise be entitled, cash equal to such fraction
multiplied by the then Fair Market Value of one full share of Common Stock, together with any other stock or other securities and property (including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to
Section 1 or otherwise. 
 2. Cashless Exercise. 
 (a) Except as described below, if a Registration Statement (as defined in the Subscription Agreement) (“Registration Statement”) is effective and the Holder may sell its shares of Common Stock upon exercise
hereof pursuant to the Registration Statement, this Warrant may be exercisable in whole or in part for cash only as set forth in Section 1 above. If no such Registration Statement is available during the time that such Registration Statement is
required to be effective pursuant to the terms of the Subscription Agreement, then commencing one year after the Issue Date, payment upon exercise may be made at the option of the Holder either in (i) cash, wire transfer or by certified or
official bank check payable to the order of the Company equal to the applicable aggregate Purchase Price, (ii) by cashless exercise in accordance with Section (b) below or (iii) by a combination of any of the foregoing methods,
for the number of shares of Common Stock specified in such form (as such exercise number shall be adjusted to reflect any adjustment in the total number of shares of Common Stock issuable to the holder per the terms of this Warrant) and the holder
shall thereupon be entitled to receive the number of duly authorized, validly issued, fully-paid and non-assessable shares of Common Stock (or Other Securities) determined as provided herein. 
 (b) If the Fair Market Value of one share of Common Stock is greater than the Purchase Price (at the date of calculation as set forth below), in lieu of
exercising this Warrant for cash, the holder may elect to receive shares equal to the value (as determined below) of this Warrant (or the portion thereof being cancelled) by surrender of this Warrant at the principal office of the Company

  

 3 

 together with the properly endorsed Subscription Form in which event the Company shall issue to the holder a number of
shares of Common Stock computed using the following formula: 
 X=Y (A-B) 
           A 
  

			
	Where X=	 	the number of shares of Common Stock to be issued to the holder
		
	Y=	 	the number of shares of Common Stock purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised (at the date of such
calculation)
		
	A=	 	the Fair Market Value of one share of the Company’s Common Stock (at the date of such calculation)
		
	B=	 	Purchase Price (as adjusted to the date of such calculation)

 (c) The Holder may employ the cashless exercise feature described in Section (b) above
commencing one year after the Issue Date and only during the pendency of a Non-Registration Event as described in Section 11 of the Subscription Agreement. For purposes of Rule 144 promulgated under the 1933 Act, it is intended, understood and
acknowledged that the Warrant Shares issued in a cashless exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was
originally issued pursuant to the Subscription Agreement. 
 3. Adjustment for Reorganization, Consolidation, Merger, etc. 

3.1 Reorganization, Consolidation, Merger, etc. In case at any time or from time to time, the Company shall (a) effect a reorganization,
(b) consolidate with or merge into any other person or (c) transfer all or substantially all of its properties or assets to any other person under any plan or arrangement contemplating the dissolution of the Company, then, in each such
case, as a condition to the consummation of such a transaction, proper and adequate provision shall be made by the Company whereby the Holder of this Warrant, on the exercise hereof as provided in Section 1, at any time after the consummation
of such reorganization, consolidation or merger or the effective date of such dissolution, as the case may be, shall receive, in lieu of the Common Stock (or Other Securities) issuable on such exercise prior to such consummation or such effective
date, the stock and other securities and property (including cash) to which such Holder would have been entitled upon such consummation or in connection with such dissolution, as the case may be, if such Holder had so exercised this Warrant,
immediately prior thereto, all subject to further adjustment thereafter as provided in Section 4. 
 3.2 Dissolution. In the
event of any dissolution of the Company following the transfer of all or substantially all of its properties or assets, the Company, prior to such dissolution, shall at its expense deliver or cause to be delivered the stock and other securities and
property (including cash, where applicable) receivable in accordance with Section 3.1 by the Holder of the Warrants upon their exercise after the effective date of such dissolution pursuant to this Section 3 to a bank or trust company (a
“Trustee”) having its principal office in New York, NY, as trustee for the Holder of the Warrants. 
 3.3 Continuation of
Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer) referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to
the Other Securities and property receivable on the exercise of this Warrant after the consummation of such reorganization, consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be
binding upon the issuer of any Other Securities, including, in the case of any such 
  

 4 

 transfer, the person acquiring all or substantially all of the properties or assets of the Company, whether or not such
person shall have expressly assumed the terms of this Warrant as provided in Section 4. In the event this Warrant does not continue in full force and effect after the consummation of the transaction described in this Section 3, then only
in such event will the Company’s securities and property (including cash, where applicable) receivable by the Holder of the Warrants be delivered to the Trustee as contemplated by Section 3.2. 
 3.4 Share Issuance. Until the Expiration Date, if the Company shall issue any Common Stock except for the Excepted Issuances (as defined in the
Subscription Agreement), prior to the complete exercise of this Warrant for a consideration less than the Purchase Price that would be in effect at the time of such issue, then, and thereafter successively upon each such issue, the Purchase Price
shall be reduced to such other lower issue price. For purposes of this adjustment, the issuance of any security or debt instrument of the Company carrying the right to convert such security or debt instrument into Common Stock or of any warrant,
right or option to purchase Common Stock shall result in an adjustment to the Purchase Price upon the issuance of the above-described security, debt instrument, warrant, right, or option if such issuance is at a price lower than the Purchase Price
in effect upon such issuance. The reduction of the Purchase Price described in this Section 3.4 is in addition to the other rights of the Holder described in the Subscription Agreement. 
 4. Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common Stock as a dividend
or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or (c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such event, the
Purchase Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Purchase Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such event
and the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event, and the product so obtained shall thereafter be the Purchase Price then in effect. The Purchase Price, as so adjusted, shall be
readjusted in the same manner upon the happening of any successive event or events described herein in this Section 4. The number of shares of Common Stock that the Holder of this Warrant shall thereafter, on the exercise hereof as provided in
Section 1, be entitled to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a)
the numerator is the Purchase Price that would otherwise (but for the provisions of this Section 4) be in effect, and (b) the denominator is the Purchase Price in effect on the date of such exercise. 
 5. Certificate as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock (or Other Securities) issuable on
the exercise of the Warrants, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate designee to compute such adjustment or readjustment in accordance with the terms of the Warrant and prepare a certificate
setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including a statement of (a) the consideration received or receivable by the Company for any additional shares of
Common Stock (or Other Securities) issued or sold or deemed to have been issued or sold, (b) the number of shares of Common Stock (or Other Securities) outstanding or deemed to be outstanding, and (c) the Purchase Price and the number of shares of
Common Stock to be received upon exercise of this Warrant, in effect immediately prior to such adjustment or readjustment and as adjusted or readjusted as provided in this Warrant. The Company will forthwith mail a copy of each such certificate to
the Holder of the Warrant and any Warrant Agent of the Company (appointed pursuant to Section 11 hereof). 
  

 5 

 6. Reservation of Stock, etc. Issuable on Exercise of Warrant; Financial Statements. The Company
will at all times reserve and keep available, solely for issuance and delivery on the exercise of the Warrants, all shares of Common Stock (or Other Securities) from time to time issuable on the exercise of the Warrant as more fully described in the
Subscription Agreement. This Warrant entitles the Holder hereof to receive copies of all financial and other information distributed or required to be distributed to the holders of the Company’s Common Stock. 
 7. Assignment; Exchange of Warrant. Subject to compliance with applicable securities laws, this Warrant, and the rights evidenced hereby, may be
transferred by any registered holder hereof (a “Transferor”). On the surrender for exchange of this Warrant, with the Transferor’s endorsement in the form of Exhibit B attached hereto (the “Transferor Endorsement Form”) and
together with an opinion of counsel reasonably satisfactory to the Company that the transfer of this Warrant will be in compliance with applicable securities laws, the Company at its expense, twice, only, but with payment by the Transferor of any
applicable transfer taxes, will issue and deliver to or on the order of the Transferor thereof a new Warrant or Warrants of like tenor, in the name of the Transferor and/or the transferee(s) specified in such Transferor Endorsement Form (each a
“Transferee”), calling in the aggregate on the face or faces thereof for the number of shares of Common Stock called for on the face or faces of the Warrant so surrendered by the Transferor. No such transfers shall result in a public
distribution of the Warrant. 
 8. Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company or, in the case of
any such mutilation, on surrender and cancellation of this Warrant, the Company at its expense, twice only, will execute and deliver, in lieu thereof, a new Warrant of like tenor. 
 9. Registration Rights. The Holder of this Warrant has been granted certain registration rights by the Company. These registration rights are set
forth in the Subscription Agreement. 
 10. Maximum Exercise. The Holder shall not be entitled to exercise this Warrant on an exercise
date, in connection with that number of shares of Common Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially owned by the Holder and its affiliates on an exercise date, and (ii) the number of shares of
Common Stock issuable upon the exercise of this Warrant with respect to which the determination of this limitation is being made on an exercise date, which would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of
the outstanding shares of Common Stock on such date. For the purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation
13d-3 thereunder. Subject to the foregoing, the Holder shall not be limited to aggregate exercises which would result in the issuance of more than 4.99%. The restriction described in this paragraph may be waived, in whole or in part, upon sixty-one
(61) days prior notice from the Holder to the Company. The Holder may decide whether to convert a Note or exercise this Warrant to achieve an actual 4.99% ownership position. 
 11. Warrant Agent. The Company may, by written notice to the Holder of the Warrant, appoint an agent (a “Warrant Agent”) for the purpose
of issuing Common Stock (or Other Securities) on the exercise of this Warrant pursuant to Section 1, exchanging this Warrant pursuant to Section 7, and replacing this Warrant pursuant to Section 8, or any of the foregoing, and thereafter any such
issuance, exchange or replacement, as the case may be, shall be made at such office by such Warrant Agent. 
 12. Transfer on the
Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat the registered holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary. 
  

 6 

 13. Warrant Exercise Compensation. The Company has agreed to pay to the Finder identified on
Schedule 8 to the Subscription Agreement (“Finder”) Warrant Exercise Compensation as described in the Subscription Agreement equal to ten percent (10%) of the cash proceeds payable to the Company upon exercise of the Warrant. The Warrant
Exercise Compensation will be paid by the Company to the Finder not later than the fifth (5th) business day after the Company receives cash proceeds from the exercise of this Warrant. The Holder of the Warrant has no obligation or responsibility to
pay Warrant Exercise Compensation 
 14. Notices. All notices, demands, requests, consents, approvals, and other communications
required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable
air courier service with charges prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently by written notice. Any notice or other
communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated
below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is
to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur or (c) three business days
after deposited in the mail if delivered pursuant to subsection (ii) above. The addresses for such communications shall be: (i) if to the Company to: Celtron International Inc., 6779 Mesa Ridge Road, San Diego, CA 92121, Attn: John L. Phillips,
President, telecopier: (858) 638-4159, with a copy by telecopier only to: Duane Morris LLP, 101 West Broadway, Suite 900, San Diego, CA 92101, Attn: James A. Mercer III, Esq., telecopier: (619) 744-2201, (ii) if to the Holder, to the addresses and
telecopier number set forth in the first paragraph of this Warrant, with an additional copy by telecopier only to: Grushko & Mittman, P.C., 551 Fifth Avenue, Suite 1601, New York, New York 10176, telecopier number: (212) 697-3575, and (iii) if
to the Finder, to: the address and telecopier number set forth on Schedule 8 to the Subscription Agreement. 
 15. Miscellaneous. This
Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. This Warrant shall be construed
and enforced in accordance with and governed by the laws of New York. Any dispute relating to this Warrant shall be adjudicated in New York County in the State of New York. The headings in this Warrant are for purposes of reference only, and shall
not limit or otherwise affect any of the terms hereof. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. 
  

 7 

 IN WITNESS WHEREOF, the Company has executed this Warrant as of the date first written above. 

 

					
		 	CELTRON INTERNATIONAL INC.
			
		 	By:	 	 /s/ John Phillips

		 	Name:	 	John Phillips
		 	Title:	 	Chief Executive Officer
			
	Witness:	 		 	
			
	  
	 		 	

  

 8 

 Exhibit A 
 FORM OF SUBSCRIPTION 
 (to be signed only on exercise of Warrant) 
 TO: CELTRON INTERNATIONAL INC. 
 The
undersigned, pursuant to the provisions set forth in the attached Warrant (No.            ), hereby irrevocably elects to purchase (check applicable box): 
                      shares of the Common Stock covered by such
Warrant; or 
              the maximum number of shares of Common Stock covered by such
Warrant pursuant to the cashless exercise procedure set forth in Section 2. 
 The undersigned herewith makes payment of the full purchase price for
such shares at the price per share provided for in such Warrant, which is $                    . Such payment takes the form of (check
applicable box or boxes): 
  

	                    	$                    in lawful money of the United States; and/or

              the cancellation of the Warrant to the extent necessary, in
accordance with the formula set forth in Section 2, to exercise this Warrant with respect to the maximum number of shares of Common Stock purchasable pursuant to the cashless exercise procedure set forth in Section 2. 
 The undersigned requests that the certificates for such shares be issued in the name of, and delivered to
                                        
     whose address is
                                        
                                        
                                        
                                        
                       
                                       
                                        
                                        
                                        
                                        
             
 Number of Shares of Common Stock Beneficially Owned on the date of exercise:
Less than five percent (5%) of the outstanding Common Stock of Celtron International Inc. 
 The undersigned represents and warrants that the
representations and warranties in Section 4 of the Subscription Agreement (as defined in this Warrant) are true and accurate with respect to the undersigned on the date hereof. 
 The undersigned represents and warrants that all offers and sales by the undersigned of the securities issuable upon exercise of the within Warrant shall be made pursuant to registration of the Common Stock under the
Securities Act of 1933, as amended (the “Securities Act”), or pursuant to an exemption from registration under the Securities Act. 
  

			
	Dated:                    	 	  

		 	 (Signature must conform to name of holder as
 specified on the face of the Warrant)

		
		 	  

		
		 	  

		 	(Address)

  

 A-1 

 Exhibit B 
 FORM OF TRANSFEROR ENDORSEMENT 
 (To be signed only on transfer of Warrant) 
 For value received, the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees” the
right represented by the within Warrant to purchase the percentage and number of shares of Common Stock of CELTRON INTERNATIONAL INC. to which the within Warrant relates specified under the headings “Percentage Transferred” and
“Number Transferred,” respectively, opposite the name(s) of such person(s) and appoints each such person Attorney to transfer its respective right on the books of CELTRON INTERNATIONAL INC. with full power of substitution in the premises.

  

					
	Transferees	 	Percentage Transferred	 	Number Transferred

  

			
	Dated:                    ,    	 	  

		 	 (Signature must conform to name of holder as specified
 on the face of the warrant)

		
	Signed in the presence of:	 	
		
	  
	 	  

		
	            (Name)	 	  

		 	            (address)
		
	ACCEPTED AND AGREED:	 	  

		
	[TRANSFEREE]	 	  

		 	            (address)
		
	  
	 	
	            (Name)	 	

  

 B-1

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