Document:

clearview_8k-1002.htm

    Exhibit
10.2

     

    NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE
SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS.  THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION
OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY
ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE SECURITIES.

    

    
      	
              Principal
      Amount: $300,000.00

            	
              Issue
      Date: March 31, 2009

            

    

    

    CONVERTIBLE PROMISSORY
NOTE

    

    FOR VALUE
RECEIVED, CLEARVIEW ACQUISITIONS, INC., a Nevada corporation (hereinafter called
“Borrower”), hereby promises to pay to WHALEHAVEN CAPITAL FUND LIMITED, 560
Sylvan Avenue, Englewood Cliffs, NJ 07632, Fax: (201) 586-0258  (the
“Holder”) or order, without demand, the sum of Three Hundred Thousand Dollars
($300,000.00) (“Principal Amount”), with interest accruing thereon, on March 20,
2010 (the “Maturity Date”), if not sooner paid.

    

    This Note
has been entered into pursuant to the terms of a subscription agreement between
the Borrower and the Holder dated at or about the date hereof (the “Subscription
Agreement”), which are incorporated herein.  Unless otherwise
separately defined herein, all capitalized terms used in this Note shall have
the same meaning as is set forth in the Subscription Agreement.  The
following terms shall apply to this Note:

    

    ARTICLE
I

    

    GENERAL
PROVISIONS

    

    1.1           Interest
Rate.   Interest payable on this Note shall accrue at the
annual rate of nine percent (9%) and be payable in arrears on the Maturity Date,
accelerated or otherwise, when the principal and remaining accrued but unpaid
interest shall be due and payable, or sooner as described below.

    

    1.2           Default Interest
Rate.  The Borrower shall not have any grace period to pay any
monetary amounts due under this Note.  After the Maturity Date,
accelerated or otherwise, and during the pendency of an Event of Default (as
defined in Article III) a default interest rate of fifteen percent (15%) per
annum shall apply to the amounts owed hereunder.

    

    1.3           Prepayment.  Provided
that an Event of Default, nor an event which with the passage of time or the
giving of notice could become an Event of Default has not occurred, the Borrower
may, on one occasion, upon not less than thirty (30) days prior notice prepay
all, but not less than all, of the Note principal, interest and any other sum
owed or payable to Holder.  Holder may exercise its conversion rights
during such thirty (30) day notice period.  Borrower’s failure to
timely make the prepayment will be an Event of Default under this
Note.

    

    
      
         

      

      
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    1.4           Conversion
Privileges.  The Conversion Privileges set forth in Article II
shall remain in full force and effect immediately from the date hereof and until
the Note is paid in full regardless of the occurrence of an Event of
Default.  The Note shall be payable in full on the Maturity Date,
unless previously converted into Common Stock in accordance with Article II
hereof; provided, that if an Event of Default has occurred, the Holder may
extend the Maturity Date until up to one year after the later of the date the
Event of Default has been cured or one year after the Maturity
Date.

    

    ARTICLE
II

    

    CONVERSION
RIGHTS

    

    The
Holder shall have the right to convert the principal and any interest due under
this Note into Shares of the Borrower's Common Stock, $.0001 par value per share
(“Common Stock”) as set forth below.

    

    2.1.           Conversion into the
Borrower's Common Stock.

    

    (a)           The
Holder shall have the right from and after the date of the issuance of this Note
and then at any time until this Note is fully paid, to convert any outstanding
and unpaid principal portion of this Note, and accrued interest, at the election
of the Holder (the date of giving of such notice of conversion being a
"Conversion Date") into fully paid and nonassessable shares of Common Stock as
such stock exists on the date of issuance of this Note, or any shares of capital
stock of Borrower into which such Common Stock shall hereafter be changed or
reclassified, at the Conversion Price as defined in Section 2.1(b) hereof,
determined as provided herein.  Upon delivery to the Borrower of a
completed Notice of Conversion, a form of which is annexed hereto as Exhibit A,
Borrower shall issue and deliver to the Holder within three (3) business days
after the Conversion Date (such third day being the “Delivery Date”) that number
of shares of Common Stock for the portion of the Note converted in accordance
with the foregoing.  At the election of the Holder, the Borrower will
deliver accrued but unpaid interest on the Note, if any, through the Conversion
Date directly to the Holder on or before the Delivery Date.  The
number of shares of Common Stock to be issued upon each conversion of this Note
shall be determined by dividing that portion of the principal of the Note and
interest, if any, to be converted, by the Conversion Price.

    

    (b)           Subject
to adjustment as provided in Section 2.1(c) hereof, the conversion price per
share shall be equal to $0.50 (“Conversion Price”).

    

    (c)           
The Conversion Price and number and kind of shares or other securities to be
issued upon conversion determined pursuant to Section 2.1(a), shall be subject
to adjustment from time to time upon the happening of certain events while this
conversion right remains outstanding, as follows:

    

    
      
         

      

      
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    A.           Merger, Sale of Assets,
etc.  If (A) the Borrower effects any merger
or  consolidation of the Borrower with or into another entity, (B) the
Borrower effects any sale of all or substantially all of its assets in one or a
series of related transactions,  (C) any tender offer or exchange
offer (whether by the Borrower or another entity) is completed pursuant to which
holders of Common Stock are permitted to tender or exchange their shares for
other securities, cash or property, (D) the Borrower consummates a stock
purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with one
or more persons or entities whereby such other persons or entities acquire more
than the 50% of the outstanding shares of Common Stock (not including any shares
of Common Stock held by such other persons or entities making or party to, or
associated or affiliated with the other persons or entities making or party to,
such stock purchase agreement or other business combination), (E) any "person"
or "group" (as these terms are used for purposes of Sections 13(d) and 14(d) of
the 1934 Act) is or shall become the "beneficial owner" (as defined in Rule
13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate
Common Stock of the Borrower, or (F) the Borrower effects any reclassification
of the Common Stock or any compulsory share exchange pursuant to which the
Common Stock is effectively converted into or exchanged for other securities,
cash or property (in any such case, a "Fundamental  Transaction"),
this Note, as to the unpaid principal portion thereof and accrued interest
thereon, shall thereafter be deemed to evidence the right to convert into such
number and kind of shares or other securities and property as would have been
issuable or distributable on account of such Fundamental Transaction, upon or
with respect to the securities subject to the conversion right immediately prior
to such Fundamental Transaction.  The foregoing provision shall
similarly apply to successive Fundamental Transactions of a similar nature by
any such successor or purchaser.  Without limiting the generality of
the foregoing, the anti-dilution provisions of this Section shall apply to such
securities of such successor or purchaser after any such Fundamental
Transaction.

    

    B.           Reclassification,
etc.  If the Borrower at any time shall, by reclassification or
otherwise, change the Common Stock into the same or a different number of
securities of any class or classes that may be issued or outstanding, this Note,
as to the unpaid principal portion thereof and accrued interest thereon, shall
thereafter be deemed to evidence the right to purchase an adjusted number of
such securities and kind of securities as would have been issuable as the result
of such change with respect to the Common Stock immediately prior to such
reclassification or other change.

    

    C.           Stock Splits, Combinations
and Dividends.  If the shares of Common Stock are subdivided or
combined into a greater or smaller number of shares of Common Stock, or if a
dividend is paid on the Common Stock in shares of Common Stock, the Conversion
Price shall be proportionately reduced in case of subdivision of shares or stock
dividend or proportionately increased in the case of combination of shares, in
each such case by the ratio which the total number of shares of Common Stock
outstanding immediately after such event bears to the total number of shares of
Common Stock outstanding immediately prior to such event..

    

                          D.           Share
Issuance.   So long as this Note is outstanding, if the
Borrower shall issue any Common Stock except for the Excepted Issuances (as
defined in the Subscription Agreement), prior to the complete conversion or
payment of this Note, for a consideration per share that is less than the
Conversion Price that would be in effect at the time of such issue, then, and
thereafter successively upon each such issuance, the Conversion 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 Borrower
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 Conversion Price upon the issuance of the above-described
security, debt instrument, warrant, right, or option and again upon the issuance
of shares of Common Stock upon exercise of such conversion or purchase rights if
such issuance is at a price lower than the then applicable Conversion
Price.  The reduction of the Conversion Price described in this
paragraph is in addition to the other rights of the Holder described in the
Subscription Agreement.  Common Stock issued or issuable by the
Borrower for no consideration will be deemed issuable or to have been issued for
$0.0001 per share of Common Stock.  The reduction of the Conversion
Price described in this paragraph is in addition to the other rights of the
Holder described in the Subscription Agreement.

    

    (d)           Whenever
the Conversion Price is adjusted pursuant to Section 2.1(c) above, the Borrower
shall promptly mail to the Holder a notice setting forth the Conversion Price
after such adjustment and setting forth a statement of the facts requiring such
adjustment.

    

    
      
         

      

      
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    (e)           During
the period the conversion right exists, Borrower will reserve from its
authorized and unissued Common Stock not less than an amount of Common Stock
equal to 175% of the amount of shares of Common Stock issuable upon the full
conversion of this Note.  Borrower represents that upon issuance, such
shares will be duly and validly issued, fully paid and
non-assessable.  Borrower agrees that its issuance of this Note shall
constitute full authority to its officers, agents, and transfer agents who are
charged with the duty of executing and issuing stock certificates to execute and
issue the necessary certificates for shares of Common Stock upon the conversion
of this Note.

    

    2.2           Method of
Conversion.  This Note may be converted by the Holder in whole
or in part as described in Section 2.1(a) hereof and the Subscription
Agreement.  Upon partial conversion of this Note, a new Note
containing the same date and provisions of this Note shall, at the request of
the Holder, be issued by the Borrower to the Holder for the principal balance of
this Note and interest which shall not have been converted or paid.

    

    2.3.           Maximum
Conversion.  The Holder shall not be entitled to convert on a
Conversion Date that amount of the Note 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 a
Conversion Date, (ii) any Common Stock issuable in connection with the
unconverted portion of the Note, and (iii) the number of shares of Common Stock
issuable upon the conversion of the Note with respect to which the determination
of this provision is being made on a Conversion 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 of the Borrower on such Conversion
Date.  For the purposes of the provision to 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 conversions of 4.99%.  The Holder shall have the
authority and obligation to determine whether the restriction contained in this
Section 2.3 will limit any conversion hereunder and to the extent that the
Holder determines that the limitation contained in this Section applies, the
determination of which portion of the Notes are convertible shall be the
responsibility and obligation of the Holder.  The Holder may waive the
conversion limitation described in this Section 2.3, in whole or in part, upon
and effective after 61 days prior written notice to the Borrower to increase
such percentage to up to 9.99%.

    

    2.4.           Mandatory
Conversion.  Provided an Event of Default or an event which
with the passage of time or giving of notice could become an Event of Default
has not occurred, then, until the Maturity Date, the Borrower will have the
option by written notice to the Holder (“Notice of Mandatory Conversion”) of
compelling the Holder to convert all or a portion of the outstanding and unpaid
principal of the Note and accrued interest, thereon, into Common Stock at the
Conversion Price, as adjusted, then in affect (“Mandatory Conversion”). The
Notice of Mandatory Conversion, which notice must be given on the first day
following three (3) consecutive trading days (“Lookback Period”) during which
the closing price for the Common Stock as reported by Bloomberg, LP for the
Principal Market shall be equal to or greater than $1.50, each such trading day
and during which three (3) trading days, the daily trading volume as reported by
Bloomberg L.P. for the Principal Market is greater than 100,000 shares. The date
the Notice of Mandatory Conversion is given is the “Mandatory Conversion Date.”
The Notice of Mandatory Conversion shall specify the aggregate principal amount
of the Note which is subject to Mandatory Conversion.  The Borrower
shall reduce the amount of Note principal subject to a Notice of Mandatory
Conversion by the amount of Note Principal and interest for which the Holder had
delivered a Notice of Conversion to the Borrower during the twenty (20) trading
days preceding the Mandatory Conversion Date. Each Mandatory Conversion Date
shall be a deemed Conversion Date and the Borrower will be required to deliver
the Common Stock issuable pursuant to a Mandatory Conversion Notice in the same
manner and time period as described in this Note and in the Subscription
Agreement.  A Notice of Mandatory Conversion may be given only in
connection with an amount of Common Stock which would not cause the Holder to
exceed the 4.99% (or if increased, 9.99%) beneficial ownership limitation set
forth in Section 2.3 of this Note.

    

    
      
         

      

      
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    ARTICLE
III

    

    EVENT
OF DEFAULT

    

    The
occurrence of any of the following events of default ("Event of Default") shall,
at the option of the Holder hereof, make all sums of principal and interest then
remaining unpaid hereon and all other amounts payable hereunder immediately due
and payable, upon demand, without presentment, or grace period, all of which
hereby are expressly waived, except as set forth below:

    

    3.1           Failure to Pay Principal or
Interest.  The Borrower fails to pay any installment of
principal, interest or other sum due under this Note when due.

    

    3.2           Breach of
Covenant.  The Borrower breaches any material covenant or other
term or condition of the Subscription Agreement, Transaction Documents or this
Note in any material respect and such breach, if subject to cure, continues for
a period of five (5) business days after written notice to the Borrower from the
Holder.

    

    3.3           Breach of Representations
and Warranties.  Any material representation or warranty of the
Borrower made herein, in the Subscription Agreement, Transaction Documents, or
in any agreement, statement or certificate given in writing pursuant hereto or
in connection therewith shall be false or misleading in any material respect as
of the date made and the Closing Date.

    

    3.4           Liquidation.   Any
dissolution, liquidation or winding up of Borrower or any substantial portion of
its business.

     

    3.5           Cessation of
Operations.   Any cessation of operations by Borrower or
Borrower admits it is otherwise generally unable to pay its debts as such debts
become due.

     

    3.6           Maintenance of
Assets.   The failure by Borrower to maintain any material
intellectual property rights, personal, real property or other assets which are
necessary to conduct its business (whether now or in the future).

    

    3.7           Receiver or
Trustee.  The Borrower or any Subsidiary of Borrower shall make
an assignment for the benefit of creditors, or apply for or consent to the
appointment of a receiver or trustee for it or for a substantial part of its
property or business; or such a receiver or trustee shall otherwise be
appointed.

    

    3.8           Judgments.  Except
in connection with the matter described on Schedule 5(h) to the Subscription
Agreement, any money judgment, writ or similar final process shall be entered or
filed against Borrower or any of its property or other assets for more than
$100,000.

    

    
      
         

      

      
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    3.9           Bankruptcy.  Bankruptcy,
insolvency, reorganization or liquidation proceedings or other proceedings or
relief under any bankruptcy law or any law, or the issuance of any notice in
relation to such event, for the relief of debtors shall be instituted by or
against the Borrower or any Subsidiary of Borrower.

    

    3.10           Delisting.   Delisting
of the Common Stock from any Principal Market; failure to comply with the
requirements for continued listing on a Principal Market for a period of five
(5) consecutive trading days; or notification from a Principal Market that the
Borrower is not in compliance with the conditions for such continued listing on
such Principal Market.

    

    3.11           Non-Payment.   A
default by the Borrower under any one or more obligations in an aggregate
monetary amount in excess of $100,000 for more than twenty days after the due
date, unless the Borrower is contesting the validity of such obligation in good
faith and has segregated cash funds equal to not less than one-half of the
contested amount.

    

    3.12           Stop
Trade.  An SEC or judicial stop trade order or Principal Market
trading suspension that lasts for five or more consecutive trading
days.

    

    3.13           Failure to Deliver Common
Stock or Replacement Note.  Borrower's failure to timely
deliver Common Stock to the Holder pursuant to and in the form required by this
Note and Sections 7 and 11 of the Subscription Agreement, or, if required, a
replacement Note.

    

    3.14           Reservation
Default.   Failure by the Borrower to have reserved for
issuance upon conversion of the Note or upon exercise of the Warrants issued in
connection with the Subscription Agreement, the number of shares of Common Stock
as required in the Subscription Agreement, this Note and the
Warrants.

    

    3.15           Financial Statement
Restatement.  The restatement of any financial statements filed
by the Borrower with the Securities and Exchange Commission for any date or
period from two years prior to the Issue Date of this Note and until this Note
is no longer outstanding, if the result of such restatement would, by comparison
to the unrestated financial statements, have constituted a Material Adverse
Effect.

    

    3.16           Reverse
Splits.   The Borrower effectuates a reverse split of its
Common Stock without twenty days prior written notice to the
Holder.

    

    3.17           Event Described in
Subscription Agreement.  The occurrence of an Event of Default
as described in the Subscription Agreement that, if susceptible to cure, is not
cured during any designated cure period.

    

    3.18           Executive Officers Breach of
Duties.  Any of Borrower’s named executive officers or
directors is convicted of a violation of securities laws, or a settlement in
excess of $250,000 is reached by any such officer or director relating to a
violation of securities laws, breach of fiduciary duties or
self-dealing.

    

    3.19           Notification
Failure.   A failure by Borrower to notify Holder of
anything which Borrower is obligated to notify Holder of pursuant to the terms
of this Note or any of the Transaction Documents.

    
      
         

      

      
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    3.20           Cross
Default.  A default by the Borrower of a material term,
covenant, warranty or undertaking of any other agreement to which the Borrower
and Holder are parties, or the occurrence of a material event of default under
any such other agreement to which Borrower and Holder are parties which is not
cured after any required notice and/or cure period.

    

    ARTICLE
IV

    

    MISCELLANEOUS

    

    4.1           Failure or Indulgence Not
Waiver.  No failure or delay on the part of the Holder hereof
in the exercise of any power, right or privilege hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such power,
right or privilege preclude other or further exercise thereof or of any other
right, power or privilege.  All rights and remedies existing hereunder
are cumulative to, and not exclusive of, any rights or remedies otherwise
available.

     

    4.2           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 first 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: (i) if to the Borrower to: Clearview
Acquisitions, Inc., 1848 Commercial Street, San Diego, CA 92113, Attn: Ian
Gardner, CEO, facsimile: (619) 330-2628, with a copy by fax only
to:  Luce Forward Hamilton & Scripps LLP, 2050 Main Street, Suite
600, Irvine, CA 92614, Attn: William T. Gay, Esq., facsimile: (949) 732-3739,
and (ii) if to the Holder, to the name, address and facsimile number set forth
on the front page of this Note, with a copy by fax only to Grushko &
Mittman, P.C., 551 Fifth Avenue, Suite 1601, New York, New York 10176,
facsimile: (212) 697-3575.

     

    4.3           Amendment
Provision.  The term “Note” and all reference thereto, as used
throughout this instrument, shall mean this instrument as originally executed,
or if later amended or supplemented, then as so amended or
supplemented.

     

    4.4           Assignability.  This
Note shall be binding upon the Borrower and its successors and assigns, and
shall inure to the benefit of the Holder and its successors and
assigns.  The Borrower may not assign its obligations under this
Note.

     

    4.5           Cost of
Collection.  If default is made in the payment of this Note,
Borrower shall pay the Holder hereof reasonable costs of collection, including
reasonable attorneys’ fees.

     

    
      
         

      

      
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    4.6           Governing
Law.  This Note 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.  Any action brought by either party against the
other concerning the transactions contemplated by this Agreement must be brought
only in the civil or state courts of New York or in the federal courts located
in the State and county of New York.  Both parties and the individual
signing this Agreement on behalf of the Borrower agree to submit to the
jurisdiction of such courts.  The prevailing party shall be entitled
to recover from the other party its reasonable attorney's fees and
costs.  In the event that any provision of this Note is invalid or
unenforceable under any applicable statute or rule of law, then such provision
shall be deemed inoperative to the extent that it may conflict therewith and
shall be deemed modified to conform with such statute or rule of law. Any such
provision which may prove invalid or unenforceable under any law shall not
affect the validity or unenforceability of any other provision of this Note.
Nothing contained herein shall be deemed or operate to preclude the Holder from
bringing suit or taking other legal action against the Borrower in any other
jurisdiction to collect on the Borrower's obligations to Holder, to realize on
any collateral or any other security for such obligations, or to enforce a
judgment or other decision in favor of the Holder.  This Note shall be deemed an
unconditional obligation of Borrower for the payment of money and, without
limitation to any other remedies of Holder, may be enforced against Borrower by
summary proceeding pursuant to New York Civil Procedure Law and Rules Section
3213 or any similar rule or statute in the jurisdiction where enforcement is
sought.  For purposes of such rule or statute, any other document or
agreement to which Holder and Borrower are parties or which Borrower delivered
to Holder, which may be convenient or necessary to determine Holder’s rights
hereunder or Borrower’s obligations to Holder are deemed a part of this Note,
whether or not such other document or agreement was delivered together herewith
or was executed apart from this Note.

     

    4.7           Maximum
Payments.  Nothing contained herein shall be deemed to
establish or require the payment of a rate of interest or other charges in
excess of the maximum rate permitted by applicable law.  In the event
that the rate of interest required to be paid or other charges hereunder exceed
the maximum rate permitted by applicable law, any payments in excess of such
maximum rate shall be credited against amounts owed by the Borrower to the
Holder and thus refunded to the Borrower.

     

    4.8           Non-Business
Days.   Whenever any payment or any action to be made
shall be due on a Saturday, Sunday or a public holiday under the laws of the
State of New York, such payment may be due or action shall be required on the
next succeeding business day and, for such payment, such next succeeding day
shall be included in the calculation of the amount of accrued interest payable
on such date.

     

    4.9           Redemption.  This
Note may not be redeemed or called without the consent of the Holder except as
described in this Note or the Subscription Agreement.

    

    4.10           Shareholder
Status.  The Holder shall not have rights as a shareholder of
the Borrower with respect to unconverted portions of this
Note.  However, the Holder will have the rights of a shareholder of
the Borrower with respect to the Shares of Common Stock to be received after
delivery by the Holder of a Conversion Notice to the Borrower.

    

    
      
         

      

      
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    IN WITNESS WHEREOF, Borrower
has caused this Note to be signed in its name by an authorized officer as of the
31st day of March, 2009.

    

    

       

      
        	 	      
                CLEARVIEW
      ACQUISITIONS, INC.

                

                

                

                

                By:  
      /s/ Scott
      Weinbrand                                          
      

                Name:
      Scott Weinbrandt

                Title:
      Chairman & President

              

      

       

    

     

    WITNESS:

    

    

    

    /s/ Kevin K. Claudio
CFO

    Kevin K
Claudio

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
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    NOTICE OF
CONVERSION

    

    (To be
executed by the Registered Holder in order to convert the Note)

    

    

    The
undersigned hereby elects to convert $_________ of the principal and $_________
of the interest due on the Note issued by CLEARVIEW ACQUISITIONS, INC. on March
___, 2009 into Shares of Common Stock of CLEARVIEW ACQUISITIONS, INC. (the
“Borrower”) according to the conditions set forth in such Note, as of the date
written below.

    

    

    

    Date of
Conversion:____________________________________________________________________

    

    

    Conversion
Price:______________________________________________________________________

    

    

    Shares To
Be
Delivered:_________________________________________________________________

    

    

    Signature:____________________________________________________________________________

    

    

    Print
Name:__________________________________________________________________________

    

    

    Address:_____________________________________________________________________________

    

       ____________________________________________________________________________

    

     

     

     

     

     

     

     

     

     

     

    10exhibit10_1.htm

    Exhibit
10.1

    Intermec,
Inc.

    2008
Long-Term Performance Share Program

    
      (as
amended March 31, 2009)

       

      
        
          

        

      

    

    
      	
              Name
      of Program

            	
              The
      program will be called the Intermec, Inc. 2008 Long-Term Performance Share
      Program (the “Program”), and will be considered a “sub-plan” under the
      2008 Omnibus Incentive Plan, as amended from time to time (the
      “Plan”).

               

            
	
              Purpose

            	
              The
      primary purposes of the Program are to:

              · Reward
      officers and key employees for the overall success of Intermec, Inc. (the
      “Company”) as reflected through 

                
      the Company’s financial performance,
      stock price or earnings; and

              · Provide
      a competitive long-term incentive program.

               

            
	
              Effective
      Date

            	
              The
      original effective date of the Program is May 23, 2008.  The
      Program will remain in effect until the earlier of (i) the Plan’s
      expiration or termination of the Plan by the Board or the Compensation
      Committee of the Board (the “Committee”) or (ii) termination of the
      Program by the Committee.

               

            
	
              Award
      and Performance Periods

            	
              Each
      award period under the Program is three years, with the first award period
      running from January 1, 2008 to December 31, 2010.  The
      Committee shall have the discretion to establish performance periods and
      measurement periods within an award period for purposes of establishing
      periods over which performance in an award period is to extend or be
      measured.

               

            
	
              Grant
      Frequency

            	
              A
      new three-year award period will begin annually on each January 1, which
      will create overlapping award periods.

               

            
	
              Size
      of Awards

            	
              Target
      awards will be established for each participant, denominated in shares
      (“PSUs”). Target award levels will be approved annually by the
      Committee.

               

            
	
              Program
      Structure

            	
              Participants
      can earn from 0 percent to 200 percent of their target shares
      based on Company financial performance (“Earned PSUs”).

               

            
	
              Performance
      Measure(s)

            	
              For
      each performance period, the Committee shall select performance measures
      from those set forth in Section 15 of the Plan.  The Committee
      may choose to include or exclude any of the events set forth in Section 15
      of the Plan in the evaluation of performance for such period.

               

            
	
              Form
      and Timing of

              Payout

            	
              Upon
      completion of an award or performance period, as applicable, (i) the
      number of Earned PSUs shall be determined and such Earned PSUs shall be
      paid out in shares of the Company’s common stock equal to the number of
      Earned PSUs or (ii) alternatively, the right to receive shares with
      respect  to Earned PSUs shall remain subject to additional
      performance or time conditions that apply during the remainder of the
      award period (shares subject to such contingent rights are referred to in
      the Program as "RSUs").  The Committee shall determine at or
      prior to the grant of PSUs whether the number of Earned PSUs shall be
      subject to additional performance or time conditions during an award
      period.

              Except
      as otherwise provided in the Program, any shares issuable upon completion
      of an award period shall be paid to participants no later than 21⁄2 months
      after an award period has ended.

               

            
	
              Dividends

            	
              Dividends,
      if any, declared during an award period will be converted, (i) with
      respect to PSUs, into additional PSUs, based on a participant’s target
      award, or (ii) with respect to RSUs, into additional RSUs with respect to
      the total number of units held by a participant.

               

            
	
              Certain
      Terminations of Employment

            	
              In
      the event of a participant’s termination as a result of death or
      disability prior to the end of the award period,  the former
      employee (or beneficiary)  will be entitled to receive a payout
      of Earned PSUs on the same basis as other participants, provided that (1)
      such amount shall be  prorated for the number of full months
      worked during the award period as a percentage of the total number of full
      months in the award period and (2) payout shall be made within 2-1/2
      months after the later of the termination or the certification by the
      Compensation Committee of payouts for the award period, notwithstanding
      the requirement applicable generally that no payout is due unless the
      participant  remains employed until the end of the award
      period.

               

              Any
      such Earned PSUs will be paid in shares of common stock .

               

              For
      purposes of the foregoing, "disability" has the definition set forth in
      the Plan.

               

              Amounts
      paid on account of death will be paid to a beneficiary designated by the
      participant. If no beneficiary has been designated, amounts will be paid
      to the participant’s estate.

               

              Notwithstanding
      the foregoing and any other provision in the Program, awards shall be paid
      in shares of common stock to (or with respect to) the participant no later
      than 21⁄2 months following the end of the year in which such awards are no
      longer subject to a substantial risk of forfeiture within the meaning of
      Section 409A of the Internal Revenue Code of 1986, as amended, and the
      regulations thereunder.

               

            
	
              Other
      Terminations of Employment

            	
              In
      the event of a termination of employment prior to the end of a an award
      period not in connection with disability or death, as discussed above, the
      participant will forfeit any right to any payout for all award periods in
      progress under the Program.

               

            
	
              Tax
      Withholding

            	
              The
      Company has the right to deduct any taxes or statutory deductions required
      by law to be withheld from all payments under the Program.

               

            
	
              Change
      in Capitalization

            	
              Any
      change in capitalization which results in a material change in the value
      of the Company’s common stock (e.g., special dividend, spin-off) will
      result in an adjustment in the number of shares earned at target and the
      number of shares subject to RSUs to reflect the recapitalization. While
      individual recapitalization “events” will be assessed by the Committee on
      a case-by-case basis, the overriding objective will be to avoid rewarding
      or penalizing participants specifically as a function of the
      event.

               

            
	
              Change
      of Control

            	
              The
      effect of a Change of Control on outstanding PSUs and RSUs shall be
      governed by the terms of the Company’s change of control policy applicable
      to the participant, which policy is either the Executive Change of Control
      Policy for the Plan or the  Standard Change of Control Policy
      for the Plan, both of which were effective January 7, 2009.  For
      purposes of the foregoing, "Change of Control" has the definition set
      forth in the change of control policy applicable to the
      participant.

               

            
	
              Accounting
      Considerations

            	
              The
      employer must recognize an expense for compensation over the award period.
      An estimated expense is accrued by amortizing the initial value of the
      awards and any subsequent appreciation over the award period based upon
      preestablished goals.  The approach to expensing may change.

               

            
	
              Tax
      Considerations

            	
              The
      Company will receive a tax deduction in the year in which the actual
      payout is determinable. The employee must report taxable income in the
      year the award is paid.

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