Document:

ex44.htm

     

    Exhibit
      4.4

    =================================================================

    

    

    AGREEMENT
      AMENDING PROMISSORY NOTE DATED (date) EXECUTED BY

    METASWARM
      CORPORATION, PAYABLE TO (name)

    

    

    AMONG

    

    (name)

    and

    METASwarm
      Corporation

    Executed
      (date)

    

    

    

    =================================================================

    

    THIS
      AGREEMENT AMENDING PROMISSORY NOTE
      is entered into on this xxx day
      of
      (month) (year) (this "Agreement"), by and among METASwarm Corporation., a Nevada
      corporation ("Borrower"), and xxxx, ("Lender").

    

    

    RECITALS

    

    WHEREAS,
      on or about the xxx day of
      (month) (year), Borrower executed that certain Promissory Note payable to Lender
      in the original principal amount of xxx dollars ($xxx.00) (Hereinafter the
      "Existing Note"); and

    

    WHEREAS,
      In connection with execution
      of the Existing Note, Borrower agreed to provide for Conversion of the Existing
      Note into Preferred Shares of Stock of Borrower at Lender’s option or to pay the
      note in full; and

    

    WHEREAS,
      in consideration of Lender's
      agreement to waive certain conditions of the Existing Note, Borrower and Lender
      have agreed to (i) convert the Existing Note into xxx shares of restricted
      common stock of the Borrower; and

    

    WHEREAS,
      it is the intention of the
      Borrower and the Lender that the terms and other provisions of this Agreement
      supersede all terms and conditions of the Existing Note; and

    

    WHEREAS,
      it is the desire of the
      Borrower and Lender to amend the Existing Note to allow immediate conversion
      into restricted Common Stock of Borrower as satisfaction and payment in full
      of
      Existing Note.

    

    AGREEMENT

    

    NOW,
      THEREFORE, for and in
      consideration of the mutual covenants and agreements set forth in this
      Agreement, and for other good and valuable consideration, the receipt, and
      adequacy of which are hereby acknowledged by all parties hereto, Borrower and
      Lender agree to amend and restate the Existing Note provisions as set forth
      hereinbelow.

    

    1.
      Acknowledgement of obligations under
      Existing Note. Borrower hereby acknowledges and agrees that Lender funded to
      Borrower the Principal Amount (as defined in the Existing Note and having the
      same meaning when used herein) of the Existing Note, that Borrower actually
      received the Principal Amount from Lender and that Borrower has not repaid
      any
      portion of the Principal Amount nor any installment of interest due thereon
      to
      Lender. Borrower further acknowledges and agrees that the Existing Note,
      inclusive of the Principal Amount and all interest accrued thereon from the
      date
      of the execution thereof through the date hereof remains unpaid, constitutes
      a
      valid and existing debt obligation of Borrower, that Borrower has no defenses
      to
      its obligation to pay the Principal Amount and all interest accrued thereon
      from
      the date of the execution thereof through the date hereof and that Borrower
      has
      no right to any offsets or other deductions therefrom.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
 

    2.
      Upon execution of this Agreement by
      Borrower and Lender, Borrower shall issue xxx shares of restricted Common Stock
      of Borrower to Lender and the debt evidence by the Existing Note shall then
      be
      considered paid in full with no further recourse.

    

    3.   MISCELLANEOUS.

    

    3.1
      Entire Agreement.  This
      Agreement constitutes the complete agreement between the parties with respect
      to
      the subject matter hereof and thereof, supersedes all prior agreements,
      commitments, understandings, or inducements (either oral or written, expressed
      or implied) and may not be modified, altered, or amended except by a written
      agreement signed by Lender and Borrower as applicable. Each party to this
      Agreement acknowledges that no representations, inducements, or agreements,
      oral
      or otherwise, have been made by any party, or anyone acting on behalf of such
      party, which are not embodied herein, and no other agreement, statement or
      promise not contained in the Existing Note as amended by this Agreement shall
      be
      valid or binding. The parties hereto have had an opportunity to consult with
      their respective attorneys concerning the meaning and the import of this
      Agreement and each has read this Agreement, as signified by their signatures
      below, and is executing the same for the purposes and consideration herein
      expressed.

    

    3.2
      Notices. Any notice or other
      communication required or permitted to be given hereunder shall be in writing
      and shall be deemed to have been received (a) upon hand delivery (receipt
      acknowledged) or facsimile (with transmission confirmation report) 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 on a business day after during normal
      business hours where such notice is to be received); or (b) on the 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. The addresses for such communications shall be:

    

         If
      to LENDER:

    

    (name)

    (address)

    (city,
      state zip)

    

         If
      to BORROWER:

    

    METASwarm
      Corporation

    530
      S. Lake Ave., #186

    Pasadena,
      CA 91101

    

    

    Any
      party may require any other party
      to serve notices in accordance with this Section at a different address or
      directed to another person for receipt of notices, if such party so designates
      such other person or address in writing delivered to every other party in
      accordance with this Paragraph.

    

    3.3
      Successors and Assigns. The
      Existing Loan Agreement as amended by this Agreement shall be binding upon,
      and
      shall inure to the benefit of, Borrower, Lender and their respective successors
      and permitted assigns, except as otherwise provided herein or therein. Borrower
      shall not assign, transfer, hypothecate, or otherwise convey its rights,
      benefits, obligations, or duties under the Existing Loan Agreement as amended
      by
      this Agreement without the prior written consent of Lender. Any such purported
      assignment, transfer, hypothecation, or other conveyance by Borrower without
      the
      prior express written consent of Lender shall be void. The terms and provisions
      of the Existing Loan Agreement as amended by this Agreement, and the other
      documents and agreements executed in furtherance thereof are for the purpose
      of
      defining the relative rights and obligations of Borrower and Lender with respect
      to the transactions contemplated hereby and thereby, and there shall be no
      third
      party beneficiaries of any of the terms and provisions of any of such agreements
      or documents. Lender reserves the right at any time to create and sell in its
      entirety or a participation in any portion of the Existing Loan Agreement as
      amended by this Agreement and to sell, transfer or assign any or all of its
      right, title or interest in and to the same, and Borrower consents to Lender's
      sale of any participations in, at any time or times, the Existing Loan Agreement
      as amended by this Agreement or of any portion thereof or interest therein,
      including Lender's rights, title, interests, remedies, powers, or duties
      thereunder, whether evidenced by a writing or not, and to the sale, assignment
      and transfer of any or all of its right, title or interest in and to the
      Existing Loan Agreement as amended by this Agreement.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
 

    3.4
      Presumption against Scrivener. No
      provision of this Agreement shall be construed against or interpreted to the
      disadvantage of any party hereto by any court or other governmental or judicial
      authority by reason of such party's having or being deemed to have structured,
      drafted or dictated such provision.

    

    3.5
      Law Governing Agreement. This
      Agreement is made and entered into and is to be at least partially performed
      in
      Clark County, Nevada. It shall be interpreted, construed and enforced and its
      construction and performance shall be governed by the laws of the State of
      Nevada applicable to agreements made and to be performed entirely within such
      State without regard to principles of conflicts of laws, except to the extent
      that federal law may apply.

    

    3.6.
      Partial Invalidity. Each part of
      this Agreement is intended to be separate. If any term, covenant, condition
      or
      provision hereof is illegal or invalid or unenforceable for any reason
      whatsoever, such illegality, invalidity or unenforceability shall not affect
      the
      legality, validity or enforceability of the remaining parts of this Agreement
      and all such remaining parts hereto shall not be impaired or invalidated in
      any
      way, but shall be legal, valid and enforceable and have full force and effect
      as
      if the illegal, invalid, unenforceable part has not been included.

    

    3.7
      Variations in Pronouns. Wherever
      the context shall so require, all words herein in the male gender shall be
      deemed to include the female or neuter gender and vice versa, all singular
      words
      shall include the plural, and all plural words shall include the singular.
      All
      pronouns and any variations thereof refer to the masculine, feminine or neuter,
      singular or plural, as the context may require.

    

    3.8.
      Execution and Counterparts. This
      Agreement may be executed in any number of counterparts, each of which when
      so
      executed and delivered shall be deemed to be an original, and all of which
      taken
      together shall constitute but one and the same instrument. Delivery of an
      executed counterpart of a signature page to this Agreement to any other Loan
      Document by facsimile transmission shall be effective as delivery of a manually
      executed counterpart thereof.

    

    3.9
      Headings. The headings used in this
      Agreement are for administrative purposes only and do not constitute substantive
      matter to be considered in construing the terms and shall not affect the
      interpretation of this Agreement. All references herein to Sections, Paragraphs,
      subsections, and clauses, shall be deemed references to such parts of this
      Agreement, unless the context shall otherwise require. A reference to an article
      or section will mean an article or section in this Agreement, unless otherwise
      explicitly set forth. The titles and headings in this Agreement are for
      reference purposes only and will not in any manner limit the construction of
      this Agreement. For the purposes of such construction, this Agreement will
      be
      considered as a whole. The terms "including" and "include" as used in this
      Agreement will be deemed to include the phrase "without
      limitation."

    

    3.10
      Attorney's Fees and Costs. If any
      action at law or in equity is necessary to enforce or interpret the terms of
      this Agreement, the prevailing party shall be entitled to reasonable attorneys'
      fees, costs, and necessary disbursements from the offending party, in addition
      to any other relief to which it may be entitled.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
 

    3.11
      Further Assurances. At any time
      and from time to time after the date hereof, at the request of Lender, and
      without further consideration, Borrower will execute and deliver such other
      and
      further instruments and documents, and take such other action as Lender may
      reasonably deem necessary, convenient or desirable in order to more effectively
      assist Lender in exercising its rights with respect hereto, and realizing the
      benefits created by this Agreement.

    

    IN
      WITNESS WHEREOF, the undersigned
      have duly executed this Agreement on this xxx day
      of
      (month) (year), as evidenced by their respective signatures below.

    

    

    

    

    BORROWER:

    

    METASWARM
      CORPORATION

     

    _________________________________

    By:  MARVIN
      SHANNON

    Its:  CEO

    

    

    

    

    LENDER:

    

    (name)

    

    _________________________________

    
 

     

    4ex45.htm

    Exhibit
      4.5

    Convertible
      And Redeemable Note

     

     

    
      	Amount:  US$xxx 	Dated:  August
              03, 2007
	Shares:        xxx	 
	Warrants:      xxx	Lender:
              (name)

    

     

    

    THIS
      PROMISSORY NOTE is entered into on
      this 3rd day of August
      2007 (this "Agreement"), by and among MetaSwarm, Inc., a Florida corporation
      ("Borrower"), and (name), ("Lender").

    

    WHEREAS,
      on or about the 3rd day of
      August, 2007, Borrower executed this Promissory Note payable to Lender in the
      original principal amount of xxx dollars ($xxx.00) (hereinafter the "Promissory
      Note"); and

    

    WHEREAS,
      In connection with execution
      of the Promissory Note, Borrower agrees to provide for Conversion of the
      Promissory Note into Common Shares of Stock of Borrower; or full repayment
      of
      the loan principal.

    

    AGREEMENT

    

    NOW,
      THEREFORE, for and in
      consideration of the mutual covenants and agreements set forth in this
      Agreement, and for other good and valuable consideration, the receipt, and
      adequacy of which are hereby acknowledged by all parties hereto, Borrower and
      Lender agree to the Promissory Note provisions as set forth herein
      below.

    

    Acknowledgment
      of obligations under
      Promissory Note. Borrower hereby acknowledges and agrees that Lender funded
      to
      Borrower the Principal Amount as defined herein, that Borrower actually received
      the Principal Amount from Lender and that Borrower has not repaid any portion
      of
      the Principal Amount nor any installment of interest due thereon to Lender.
      Borrower further acknowledges and agrees that the Promissory Note, inclusive
      of
      the Principal Amount and all interest accrued thereon from the date of the
      execution thereof through the date hereof remains unpaid, constitutes a valid
      and existing debt obligation of Borrower, that Borrower has no defenses to
      its
      obligation to pay the Principal Amount and all interest accrued thereon from
      the
      date of the execution thereof through the date hereof and that Borrower has
      no
      right to any offsets or other deductions therefrom.

     

    FOR
      VALUE RECEIVED, MetaSwarm, Inc., the Borrower, subject to the terms and
      conditions herein, to repay the value of xxx dollars ($xxx); as set forth by
      the
      terms of either Conversion Option (1)  or Redemption Option
      (2):

    

    
      	
              1.

            	
              Conversion
                Option

            

    

    

    1.
      1 The
      Promissory Note will be converted at the expiry of a period of  three
      (3) months from the date of this Note (the "Maturity Date") into such number
      of
      common shares of the Borrower (the "Shares") as determined by dividing the
      principal amount of the Note to be converted by the conversion price of US$0.20
      per share; with an additional warrant to purchase 1⁄2 common share per each
      converted share at a price of US$0.30 per share with warrant rights expiring
      5
      years from date of execution of the Promissory Note. The debt evidence by the
      Promissory Note shall then be considered paid in full with no further
      recourse.

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    Dilution
      restrictions will apply, and all shareholders will participate proportionally
      in
      any stock splits, recapitalizations or distributions as determined by the
      shareholders.

    

    
      	
              2.

            	
              Redemption
                Option

            

    

    

    2.1
      Should the Lender elect not to convert the Promissory Note into Common Shares
      Option at the Maturity Date, upon the Lender’s written request, the Borrower
      shall repay all indebtedness to the Lender and redeem the said Promissory
      Note.  The redemption shall occur within 90 days of receipt, by the
      Borrower, of a written notification of Lender’s election.

    

    At
      redemption, the Borrower shall pay to the Lender an amount equal to the full
      face value of the Promissory Note plus all Interests calculated at a per annum
      rate of 10.00% from date of the Value received to the date of
      payment.

    

    2.2  All
      Notes which are converted in accordance with this Clause 2 shall forthwith
      be
      cancelled.

    
 

    
      	
              3.

            	
              Additional
                Terms

            

    

    This
      Promissory Note is not transferable except with the written consent of the
      Borrower.

    

    The
      Borrower hereby acknowledges and covenants that the benefit of the covenants,
      obligations and conditions on the part of or binding upon it contained in this
      Note shall endure to the Lender.

    

    The
      Lender shall have a right to request the Borrower to issue such Shares converted
      under Clause 1 to any nominee as directed by the Lender.

    

    All
      funds
      shall be made in US$ (or other currency as agreed by the parties) in cleared
      funds on the due date for payment to a bank account specified by the relevant
      party.

    

    Notwithstanding
      anything in this Note to the contrary, the obligations of the Borrower under
      this Note shall be absolute and the Borrower expressly and unconditionally
      waives any and all rights to offset, deduct or withhold any payments or charges
      due under this Note for any reason whatsoever.

    

    If
      the
      Borrower shall fail to pay when due any sums payable hereunder and such failure
      shall remain unremedied for a period of ten business days after notice thereof
      shall have been given to the Borrower by the Lender, then the Lender may, at
      its
      sole option, declare all sums owing under this Note immediately due and
      payable.

    

    The
      acceptance by any Note Holder of this Note of any payment that is less than
      the
      total of all amounts due and payable at the time of such payment shall not
      constitute a waiver of such holders rights or remedies at the time or at any
      subsequent time, without the express written consent of such holder, except
      as
      and to the extent otherwise provided by law.

    

    This
      Note
      may be waived, changed, modified or discharged only by an agreement in writing
      signed by the party against whom enforcement of any waiver, change, modification
      or discharge is sought.

    

    This
      Note
      shall be construed and enforced in accordance with, and governed by, the laws
      of  the state of Florida (USA).

    

    All
      notices required or desired to be given hereunder shall be given in writing
      and
      signed by the party so giving notice, and shall be effective when delivered
      to
      the party or upon certified receipt of courier or overnight carrier if sent
      by
      commercial overnight carrier and addressed as set forth below.  A
      notice not given by overnight carrier in the manner described in the preceding
      sentence shall be deemed given if and when actually received by the party to
      whom it is given.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
            	
              To
                Lender:

            	
              (name)

            

      	 	 	(address)

      	 	 	(city,
              state zip)

      	 	 	SSN:                      xxx

    

     

    
      	
            	
              To
                the Company:

            	
              MetaSwarm,
                Inc.

            

      	 	 	530
              S. Lake Ave., #186

      	 	 	Pasadena,
              CA 91101

    

    

    If
      any
      provision of this Note, or the application hereof to any circumstance, is found
      to be unenforceable, invalid or illegal, such provision shall be deemed to
      be
      deleted from this Note or not applicable to such circumstance, as the case
      may
      be, and the remainder of this Note shall not be affected or impaired
      thereby.

    

    

    
      	
              MetaSwarm,
                Inc.:

            	 	
              Lender:

            
	 	 	 
	
              Marvin
                Shannon

              Chairman
                and CEO

            	 	
              (name)

            
	 	 	 
	
              Date

            	 	
              Date

            

    

     

     

     

     

    3

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