Document:

Second Amendment to Lease Agreement dated January 23, 2004

 EXHIBIT 10.4(b) 
  
 SECOND AMENDMENT TO LEASE 
  
 This Second Amendment to Lease (“Second Amendment”) is entered into as of January 23, 2004 by and between Mobile Park Investment,
Inc. (“Lessor”) and Interlink Electronics, Inc. (“Lessee”) and amends that certain Lease Agreement-NNN dated August 12, 1998 and First Amendment to Lease dated July 23, 2003 for the Premises commonly known as 546 Flynn Road,
Camarillo, California, (“Premises”), as more particularly described therein. 
  
 Lessee wishes to lease additional space and to extend the term of the Lease. Accordingly, the parties agree to amend the Lease as follows. 
  

			
		
	 1. New Premises:
	  	Approximately 5,864 square feet will be added to the Existing Premises of approximately 35,333 square feet, for a total New Premises of approximately 41,197 square feet.
		
	 2. Effective Date:
	  	February 15, 2004.
		
	 3. New Lease Term:
	  	Five (5) years commencing February 15, 2004 and terminating on February 14, 2009.
		
	 4. Basic Monthly Rent:
	  	As of the Effective Date, the basic monthly rent for the New Premises will be $27,190.02, NNN. Notwithstanding the above, the monthly rent shall be $23,319.78, NNN until Lessee is given
possession of the 5,864 square feet of expansion space. Such possession is anticipated to be on or before April 1, 2004, at which time the rent will be $27,190.02, NNN.
		
	 5. Escalations to Basic Monthly Rent:
	  	There will be a fixed three percent (3%) annual increase to the monthly rent effective February 15, 2005; February 15, 2006; February 15, 2007; and February 15, 2008, such that the monthly
rent payable during the year starting at each effective date will be 3% higher than the monthly rent payable during the year prior to each effective date.
		
	 6. Building Square Footage:
	  	Approximately 106,986 square feet.
		
	 7. Lessee’s Share of Building Operating Expenses (NNN Costs):
	  	38.51%.
		
	 8. Lease Cancellation:
	  	 Lessee shall have a one-time right to cancel this Lease effective at the end of the forty-first (41st) month of the Lease Term with the following conditions:
  
 a) Lessee provides at least six (6) months prior written notice to Lessor of its election to cancel the Lease;
 b) Lessor is unable to make available to Lessee on or before the forty-first (41st) month of the Lease Term at least 10,000 square feet of contiguous office space on the second floor of the building;
 c) Lessee pays to Lessor, prior to the cancellation date, an amount equal to the unamortized cost of Tenant improvements and brokerage commissions.

  

			
		
	 9. Tenant Improvements:
	  	Lessor, at its sole cost and expense, shall be responsible for the alterations and additions to the Existing Premises and the New Premises in accordance with the attached plans and
construction key notes dated January 13, 2004, developed by Neal Subic, AIA and mutually agreed to by the parties. All tenant improvements including new carpeting and paint will be completed using building standard materials, specifications, and
quantities. Lessee to have a selection of carpet and paint from Lessor’s samples.
		
	 10. Unreserved Parking   Spaces:
	  	114.
		
	 11. Monument Signage:
	  	Lessor shall coordinate with Lessee to design, plan and obtain governmental approvals as required for a single panel or multiple panel monument type sign to be located near the corner of
Flynn Road and Calle Tecate adjacent to the Building. The costs of the sign, its fabrication, installation, and maintenance shall be the responsibility of Lessee if a single panel (Interlink Electronics) monument sign is utilized, or shall be shared
by Lessee and Lessor on a 50/50 basis if a multiple panel monument sign is utilized. The monument sign, its location, size, shape, and colors, shall be approved by Lessor, which approval shall not be unreasonably withheld, and by the City of
Camarillo, as required.
		
	 12. Option to Extend:
	  	(See attached A.I.R. Option to Extend Standard Lease Addendum).
		
	 13. Force and Effect:
	  	To the extent that any terms or provisions of this Amendment are inconsistent with any terms or provisions of the Lease or prior Amendments, the terms and provisions of this Amendment shall
prevail and control for all purposes.

  

									
	LESSOR:	 	 	 	LESSEE:
	Mobile Park Investment, Inc.	 	 	 	 Interlink Electronics, Inc.

					
	By:	 	/s/    JAMES CHESTON	 	 	 	By:	 	/s/    PAUL D. MEYER
	 	 	
	 	 	 	 	 	

	By:	 	James Cheston	 	 	 	By:	 	 
	 	 	
	 	 	 	 	 	

	Date:	 	 	 	 	 	Date:	 	1/23/04
	 	 	
	 	 	 	 	 	

  

 OPTION(S) TO EXTEND 
 STANDARD LEASE ADDENDUM 
  

					
	 	  	 Dated January 23, 2004
	  	 
	 	  	 By and Between (Lessor) Mobile Park Investment, Inc.
	  	 
	 	  	                               (Lessee) Interlink Electronics,
Inc.

	 	  	 Address of Premises: 546 Flynn Road, Camarillo, CA

  
 Paragraph 8 
  

	A.	OPTION(S) TO EXTEND: 

  
 Lessor hereby grants to Lessee the option to extend the term of this Lease for one (1) additional sixty (60) month period(s) commencing when the prior term expires upon each and all of the following terms and
conditions: 
  
 (i) In order to exercise an option
to extend, Lessee must give written notice of such election to Lessor and Lessor must receive the same at least 6 but not more than 9 months prior to the date that the option period would commence, time being of the essence. If proper notification
of the exercise of an option is not given and/or received, such option shall automatically expire. Options (if there are more than one) may only be exercised consecutively. 
  
 (ii) The provisions of paragraph 39, including those relating to Lessee’s Default set forth in
paragraph 39.4 of this Lease, are conditions of this Option. 
  
 (iii) Except for the provisions of this Lease granting an option or options to extend the term, all of the terms and conditions of this Lease except where specifically modified by this option shall apply. 

 
 (iv) This Option is personal to the original Lessee, and
cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and without the intention of thereafter assigning or subletting. 
  
 (v) The monthly rent for each month of the option period
shall be calculated as follows, using the method(s) indicated below: (Check Method(s) to be Used and Fill In Appropriately) 
  

	 ̈	I. Cost of Living Adjustment(s) (COLA)  

  
 a. On (Fill in COLA Dates):
                                        
                                        
                                        
                                        

                                       
                                        
                                        
                                        
                                        
                                        
                    
 the Base Rent shall be adjusted by
the change, if any, from the Base Month specified below, in the Consumer Price Index of the Bureau of Labor Statistics of the U.S. Department of Labor for (select one):  ̈ CPI W (Urban Wage Earners and Clerical Workers) or  ̈ CPI U (All Urban Consumers), for (Fill In Urban Area):
 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 All Items (1982-1984 = 100), herein
referred to as “CPI”. 
  
 b. The monthly rent payable in
accordance with paragraph A.I.a. of this Addendum shall be calculated as follows: the Base Rent set forth in paragraph 1.5 of the attached Lease, shall be multiplied by a fraction the numerator of which shall be the CPI of the calendar month 2
months prior to the month(s) specified in paragraph A.I.a. above during which the adjustment Is to take effect, and the denominator of which shall be the CPI of the calendar month which is 2 months prior to (select one):  ̈ the first month of the term of this Lease as set forth in paragraph 1.3 (“Base Month”) or  ̈ (Fill In Other “Base Month”):
                                        
                    . The sum so calculated shall constitute the new monthly rent hereunder, but in no event, shall any such new monthly rent be
less than the rent payable for the month Immediately preceding the rent adjustment. 
  
 c. In the event the compilation and/or publication of the CPI shall be transferred to any other governmental department or bureau or agency or shall be discontinued, then the index most nearly the same as the CPI
shall be used to make such calculation. In the event that the Parties cannot agree on such alternative index, then the matter shall be submitted for decision to the American Arbitration Association in accordance with the then rules of said
Association and the decision of the arbitrators shall be binding upon the parties. The cost of said Arbitration shall be paid equally by the Parties. 
  

	þ	II. Market Rental Value Adjustment(s) (MRV) 

  
 a. On (Fill in MRV Adjustment Date(s)) February 15, 2009 the Base Rent shall be adjusted to the “Market Rental Value” of the property as
follows: 
  
 1) Four months prior to each Market
Rental Value Adjustment Date described above, the Parties shall attempt to agree upon what the new MRV will be on the adjustment date. If agreement cannot be reached, within thirty days, then: 
  
 (a) Lessor and Lessee shall immediately appoint a mutually
acceptable appraiser or broker to establish the new MRV within the next 30 days. 
  

					
	Initials:___________	  	 	  	Initials:      PDM        
	             ___________	  	 	  	             ___________

  

 Page 1 of 2 
  

			
	©2000 - AIR Commercial Real Estate Association	 	Form OE-3-8/00E

 Any associated costs will be split equally between the Parties, or 
  
 (b) Both Lessor and Lessee shall each immediately make a
reasonable determination of the MRV and submit such determination, in writing, to arbitration in accordance with the following provisions: 
  
 (i) Within 15 days thereafter, Lessor and Lessee shall each select an  ̈ appraiser or þ broker (“Consultant”—check one) of their choice to act as an arbitrator. The two arbitrators so appointed shall
immediately select a third mutually acceptable Consultant to act as a third arbitrator. 
  
 (ii) The 3 arbitrators shall within 30 days of the appointment of the third arbitrator reach a decision as to what the actual MRV for the
Premises is, and whether Lessor’s or Lessee’s submitted MRV is the closest thereto. The decision of a majority of the arbitrators shall be binding on the Parties. The submitted MRV which is determined to be the closest to the actual MRV
shall thereafter be used by the Parties. 
  
 (iii) If either of the Parties fails to appoint an arbitrator within the specified 15 days, the arbitrator timely appointed by one of them shall reach a decision on his or her own, and said decision shall be binding on the Parties.

  
 (iv) The entire cost of such arbitration
shall be paid by the party whose submitted MRV is not selected, ie. the one that is NOT the closest to the actual MRV. 
  
 2) Notwithstanding the foregoing, the new MRV shall not be less than the rent payable for the month immediately preceding the rent
adjustment. 
  
 b. Upon the establishment of each New Market
Rental Value: 
  
 1) the new MRV will become the
new “Base Rent” for the purpose of calculating any further Adjustments, and 
  
 2) the first month of each Market Rental Value term shall become the new “Base Month” for the purpose of calculating any further
Adjustments. 
  

	 ̈	III. Fixed Rental Adjustment(s) (FRA) 

  
 The Base Rent shall be increased to the following amounts on the dates set forth below: 
  

			
	On (Fill in FRA Adjustment Date(s)):	    	The New Base Rent shall be:
	                                       
                                    
	    	$_________________________
	                                       
                                    
	    	$_________________________
	                                       
                                    
	    	$_________________________
	                                       
                                    
	    	$_________________________

  

	B.	NOTICE: 

  
 Unless specified otherwise herein, notice of any rental adjustments, other than Fixed Rental Adjustments, shall be made as specified in paragraph 23 of
the Lease. 
  

	C.	BROKER’S FEE: 

  
 The Brokers shall be paid a Brokerage Fee for each adjustment specified above in accordance with paragraph 15 of the Lease. 
  
 NOTE: These forms are often modified to meet changing requirements of law and needs of the
industry. Always write or call to make sure you are utilizing the most current form: AIR COMMERCIAL REAL ESTATE ASSOCIATION, 700 S. Flower Street, Suite 600, Los Angeles, Calif. 90017 
  

					
	Initials:___________	  	 	  	Initials:      PDM        
	             ___________	  	 	  	             ___________

  

 Page 2 of 2 
  

			
	©2000 - AIR Commercial Real Estate Association	 	Form OE-3-8/00ECredit Agreement as amended August 1, 2003

 Exhibit 10.12 
  

					
	[Wells Fargo Logo]	 	 John E. Ray
	 	 Ventura County Commercial Banking Office

	 	 	 Vice President
	 	 460 East Esplanade Drive, Suite 100

	 	 	 Senior Relationship Manager
	 	 Oxnard, CA 93036

	 	 	 	 	 805 278-9603

	 	 	 	 	 805 278-0639 Fax

  
 August 1, 2003

  
 Interlink Electronics, Inc. 
 546 Flynn Road 
 Camarillo, CA 93012 
  
 Gentlemen: 
  
 This letter amendment (this “Amendment”) is to confirm the changes agreed upon between WELLS FARGO BANK, NATIONAL
ASSOCIATION (“Bank”) and INTERLINK ELECTRONICS, INC. (“Borrower”) to the terms and conditions of that certain letter agreement between Bank and Borrower dated as of June 1, 2002, as amended from time to time (the
“Agreement”). For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Bank and Borrower hereby agree that the Agreement shall be amended as follows to reflect said changes. 
  
 1. The Agreement is hereby amended by deleting “Five Million Dollars
($5,000,000.00)” as the maximum principal amount available under the Line of Credit, and by substituting for said amount “Three Million Dollars ($3,000,000.00),” with such change to be effective upon the execution and delivery to Bank
of a promissory note substantially in the form of Exhibit A attached hereto (which promissory note shall replace and be deemed the Line of Credit Note defined in and made pursuant to the Agreement) and all other contracts, instruments and
documents required by Bank to evidence such change. 
  
 2.
Paragraphs I.1 (b) and I.1 (c) are hereby relettered as Paragraphs I.1 (c) and I.1 (d), and the following is hereby added to the Agreement as the new Paragraph 1.1 (b): 
  
 “(b) Limitation on Borrowings. Outstanding borrowings under the Line of Credit, to a maximum of
the principal amount set forth above, shall not at any time exceed 

  

 Interlink Electronics, Inc. 
 August 1, 2003 
 Page 2 
  

 
an aggregate of sixty-five percent (65%) of Borrower’s eligible accounts receivable. All of the foregoing shall be determined by Bank upon receipt and
review of all collateral reports required hereunder and such other documents and collateral information as Bank may from time to time require. Borrower acknowledges that said borrowing base was established by Bank with the understanding that, among
other items, the aggregate of all returns, rebates, discounts, credits and allowances for the immediately preceding three (3) months at all times shall be less than five percent (5%) of Borrower’s gross sales for said period. If such dilution
of Borrower’s accounts for the immediately preceding three (3) months at any time exceeds five percent (5%) of Borrower’s gross sales for said period, or if there at any time exists any other matters, events, conditions or contingencies
which Bank reasonably believes may affect payment of any portion of Borrower’s accounts, Bank, in its sole discretion, may reduce the foregoing advance rate against eligible accounts receivable to a percentage appropriate to reflect such
additional dilution and/or establish additional reserves against Borrower’s eligible accounts receivable. 
  
 As used herein, “eligible accounts receivable” shall consist solely of trade accounts created in the ordinary course of
Borrower’s business, upon which Borrower’s right to receive payment is absolute and not contingent upon the fulfillment of any condition whatsoever, and in which Bank has a perfected security interest of first priority, and shall not
include: 
  
 (i) any account which is past due
more than twice Borrower’s standard selling terms; 
  
 (ii) that portion of any account for which there exists any right of setoff, defense or discount (except regular discounts allowed in the ordinary course of business to promote prompt payment) or for which any defense
or counterclaim has been asserted; 
  

 Interlink Electronics, Inc. 
 August 1, 2003 
 Page 3 
  

 (iii) any account which represents an obligation of any state or municipal government
or of the United States government or any political subdivision thereof (except accounts which represent obligations of the United States government and for which the assignment provisions of the Federal Assignment of Claims Act, as amended or
recodified from time to time, have been complied with to Bank’s satisfaction); 
  
 (iv) any account which represents an obligation of an account debtor located in a foreign country; 
  
 (v) any account which arises from the sale or lease to or
performance of services for, or represents an obligation of, an employee, affiliate, partner, member, parent or subsidiary of Borrower; 
  
 (vi) that portion of any account, which represents interim or progress billings or retention rights on the part of the account debtor;

  
 (vii) any account which represents an
obligation of any account debtor when twenty percent (20%) or more of Borrower’s accounts from such account debtor are not eligible pursuant to (i) above; 
  

(viii) that portion of any account from an account debtor which represents the amount by which Borrower’s total accounts from said
account debtor exceeds twenty-five percent (25%) of Borrower’s total accounts; 
  
 (ix) any account deemed ineligible by Bank when Bank, in its sole discretion, deems the creditworthiness or financial condition of the
account debtor, or the industry in which the account debtor is engaged, to be unsatisfactory.” 
  

 Interlink Electronics, Inc. 
 August 1, 2003 
 Page 4 
  

 3. Paragraph 4 is hereby deleted in its entirety, and the following substituted therefor: 

 
 “4. COLLATERAL: 
  
 As security for all indebtedness of Borrower to Bank subject
hereto, Borrower hereby grants to Bank security interests of first priority in all Borrower’s accounts receivable and other rights to payment, general intangibles, inventory and equipment, including but not limited to its interest in any
Subsidiary (as defined below).” 
  
 4. Paragraph II.3 is
hereby deleted in its entirety, and the following substituted therefor: 
  
 “3. Unused Commitment Fee. Borrower shall pay to Bank a fee equal to one and one-half percent (1.500%) per annum (computed on the basis of a 360-day year, actual days elapsed) on the average daily unused
amount of the Line of Credit, which fee shall be calculated on a quarterly basis by Bank and shall be due and payable by Borrower in arrears on each March 31, June 30, September 30 and December 31.” 
  
 5. Paragraphs V.9, V.10, V.11, V.12, V.13, V.14, V.15 and V.16 are hereby
renumbered as Paragraphs V.10, V.11, V.12, V.13, V.14, V.15, V.16 and V.17, respectively and the following is hereby added to the Agreement as the new Paragraph V.9: 
  
 “V.9. Financial Condition. Maintain Borrower’s financial condition as follows using
generally accepted accounting principles consistently applied and used consistently with prior practices (except to the extent modified by the definitions herein): 
  
 (a) Tangible Net Worth not less than $16,300,000.00, determined as of each fiscal quarter end, increasing as
of each fiscal quarter end (commencing with FQE 9/30/03) on a cumulative basis by the sum of 85% of Borrower’s net income (with no deduction for losses) and 100% of net proceeds of issuance of stock during each such fiscal quarter, with
“Tangible Net Worth” defined as the aggregate of total stockholders’ equity plus subordinated debt less any intangible assets. 
  

 Interlink Electronics, Inc. 
 August 1, 2003 
 Page 5 
  

 (b) Total Liabilities divided by Tangible Net Worth not at any time greater than 0.75
to 1.0, with “Total Liabilities” defined as the aggregate of current liabilities and non-current liabilities less subordinated debt, and with “Tangible Net Worth” as defined above. 
  
 (c) Quick Ratio not at any time less than 2.25 to 1.0, with
“Quick Ratio” defined as the aggregate of unrestricted cash, unrestricted marketable securities and receivables convertible into cash divided by total current liabilities. 
  
 (d) Net income after taxes not less than $1.00 on an annual basis, determined as of each fiscal year end,
and pre-tax profit not less than $50,000.00 on a quarterly basis, determined as of each fiscal quarter end.” 
  
 6. Paragraph V.10 is hereby deleted in its entirety, and the following substituted therefor: 
  
 “10. Capital Expenditures. Not make any
additional investment in fixed assets in any fiscal year in excess of an aggregate of $750,000.00.” 
  
 7. Paragraph V.17 is hereby deleted in its entirety, and the following substituted therefor: 
  
 “17. Pledge of Assets. Not mortgage, pledge,
grant or permit to exist, nor permit any Subsidiary to mortgage, pledge, grant or permit to exist, a security interest in, or lien upon, all or any portion of Borrower’s or any Subsidiary’s assets now owned or hereafter acquired, except
for (a) any of the foregoing in favor of Bank, (b) any of the foregoing which are existing as of, and disclosed to Bank in writing prior to, the date hereof, (c) purchase money security interests in equipment which are granted hereafter to secure
purchase money borrowings from lenders other than Bank or Borrower so long as such borrowings are permitted under (and within the limits of) paragraph 13 above, and (d) security interests granted hereafter by the Existing Japanese 

  

 Interlink Electronics, Inc. 
 August 1, 2003 
 Page 6 
  

 
Subsidiary in its assets to secure its borrowings from lenders other than Bank so long as such borrowings are permitted under (and within the limits of)
paragraph 12 above.” 
  
 8. Except as specifically provided
herein, all terms and conditions of the Agreement remain in full force and effect, without waiver or modification. All terms defined in the Agreement shall have the same meaning when used herein. This Amendment and the Agreement shall be read
together, as one document. 
  
 9. Borrower hereby remakes all
representations and warranties contained in the Agreement and reaffirms all covenants set forth therein. Borrower further certifies that as of the date of Borrower’s acknowledgment set forth below there exists no default or defined event of
default under the Agreement or any promissory note or other contract, instrument or document executed in connection therewith, nor any condition, act or event which with the giving of notice or the passage of time or both would constitute such a
default or defined event of default. 
  
 Your acknowledgment of
this Amendment shall constitute acceptance of the foregoing terms and conditions. 
  

			
	 Sincerely,

	
	 WELLS FARGO BANK,
NATIONAL ASSOCIATION

		
	By:	 	/s/    JOHN E. RAY
	 	 	

	 	 	 John E. Ray

	 	 	 Vice President

  
  
 Acknowledged and accepted as of 10/6/03: 
  

			
	INTERLINK ELECTRONICS, INC.
		
	By:	 	/s/    PAUL D. MEYER
	 	 	

	 Title:
	 	CFO
	 	 	

  

 EXHIBIT A 
  

			
	WELLS FARGO	  	REVOLVING LINE OF CREDIT NOTE
		
	$3,000,000.00	  	 Oxnard, California
 August 1, 2003

  
 FOR VALUE RECEIVED, the undersigned
Interlink Electronics, Inc. (“Borrower”) promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”) at its office at Ventura LPO, 460 E. Esplanade Drive Suite 100, Oxnard, CA 93030, or at such
other place as the holder hereof may designate, in lawful money of the United States of America and in immediately available funds, the principal sum of $3,000,000.00, or so much thereof as may be advanced and be outstanding, with interest
thereon, to be computed on each advance from the date of its disbursement as set forth herein. 
  

	1.	INTEREST: 

  
 1.1 Interest. The outstanding principal balance of this Note shall bear interest (computed on the basis of a 360-day year, actual days elapsed) at a rate per annum 1.00000% above the Prime Rate in
effect from time to time. The “Prime Rate” is a base rate that Bank from time to time establishes and which serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto. Each change in
the rate of interest hereunder shall become effective on the date each Prime Rate change is announced within Bank. 
  
 1.2 Payment of Interest. Interest accrued on this Note shall be payable on the 1st day of each month, commencing September 1, 2003.

  
 1.3 Default Interest. From and after the maturity date of this Note, or
such earlier date as all principal owing hereunder becomes due and payable by acceleration or otherwise, the outstanding principal balance of this Note shall bear interest until paid in full at an increased rate per annum (computed on the basis of a
360-day year, actual days elapsed) equal to 4% above the rate of interest from time to time applicable to this Note. 
  

	2.	BORROWING AND REPAYMENT: 

  
 2.1 Borrowing and Repayment. Borrower may from time to time during the term of this Note borrow, partially or wholly repay its outstanding borrowings, and
reborrow, subject to all of the limitations, terms and conditions of this Note and of any document executed in connection with or governing this Note; provided however, that the total outstanding borrowings under this Note shall not at any time
exceed the principal amount stated above. The unpaid principal balance of this obligation at any time shall be the total amounts advanced hereunder by the holder hereof less the amount of 

  

 
principal payments made hereon by or for any Borrower, which balance may be endorsed hereon from time to time by the holder. The outstanding principal
balance of this Note shall be due and payable in full on June 1, 2004. 
  
 2.2 Advances. Advances hereunder, to the total amount of the principal sum available hereunder, may be made by the holder at the oral or written request of (a) Paul Meyer or Sharon McCracken, any one acting alone, who are
authorized to request advances and direct the disposition of any advances until written notice of the revocation of such authority is received by the holder at the office designated above, or (b) any person, with respect to advances deposited to the
credit of any deposit account of any Borrower, which advances, when so deposited, shall be conclusively presumed to have been made to or for the benefit of each Borrower regardless of the fact that persons other than those authorized to request
advances may have authority to draw against such account. The holder shall have no obligation to determine whether any person requesting an advance is or has been authorized by any Borrower. 
  
 2.3 Application of Payments. Each payment made on this Note shall be credited first,
to any interest then due and second, to the outstanding principal balance hereof. 
  

	3.	EVENTS OF DEFAULT: 

  
 The occurrence of any of the following shall constitute an “Event of Default” under this Note: 
  
 3.1 The failure to pay any principal, interest, fees or other charges when due hereunder or
under any contract, instrument or document executed in connection with this Note. 
  
 3.2 The filing of a petition by or against any Borrower, any guarantor of this Note or any general partner or joint venturer in any Borrower which is a partnership or a joint venture (with each such guarantor, general partner and/or joint
venturer referred to herein as a “Third Party Obligor”) under any provisions of the Bankruptcy Reform Act, Title 11 of the United States Code, as amended or recodified from time to time, or under any similar or other law relating to
bankruptcy, insolvency, reorganization or other relief for debtors; the appointment of a receiver, trustee, custodian or liquidator of or for any part of the assets or property of any Borrower or Third Party Obligor; any Borrower or Third Party
Obligor becomes insolvent, makes a general assignment for the benefit of creditors or is generally not paying its debts as they become due; or any attachment or like levy on any property of any Borrower or Third Party Obligor. 
  
 3.3 The death or incapacity of any individual Borrower or Third Party Obligor, or the
dissolution or liquidation of any Borrower or Third Party Obligor which is a corporation, partnership, joint venture or other type of entity. 
  

 3.4 Any default in the payment or performance of any obligation, or any defined event of default, under any provisions of
any contract, instrument or document pursuant to which any Borrower or Third Party Obligor has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the holder.

  
 3.5 Any financial statement provided by any Borrower or Third Party Obligor to
Bank proves to be incorrect, false or misleading in any material respect. 
  
 3.6
Any sale or transfer of all or a substantial or material part of the assets of any Borrower or Third Party Obligor other than in the ordinary course of its business. 
  
 3.7 Any violation or breach of any provision of, or any defined event of default under, any addendum to this Note or any loan agreement,
guaranty, security agreement, deed of trust, mortgage or other document executed in connection with or securing this Note. 
  

	4.	MISCELLANEOUS: 

  
 4.1 Remedies. Upon the occurrence of any Event of Default, the holder of this Note, at the holder’s option, may declare all sums of principal and interest outstanding hereunder to be immediately due and
payable without presentment, demand, notice of nonperformance, notice of protest, protest or notice of dishonor, all of which are expressly waived by each Borrower, and the obligation, if any, of the holder to extend any further credit hereunder
shall immediately cease and terminate. Each Borrower shall pay to the holder immediately upon demand the full amount of all payments, advances, charges, costs and expenses, including reasonable attorneys’ fees (to include outside counsel fees
and all allocated costs of the holder’s in-house counsel), expended or incurred by the holder in connection with the enforcement of the holder’s rights and/or the collection of any amounts which become due to the holder under this Note,
and the prosecution or defense of any action in any way related to this Note, including without limitation, any action for declaratory relief, whether incurred at the trial or appellate level, in an arbitration proceeding or otherwise, and including
any of the foregoing incurred in connection with any bankruptcy proceeding (including without limitation, any adversary proceeding, contested matter or motion brought by Bank or any other person) relating to any Borrower or any other person or
entity. 
  
 4.2 Obligations Joint and Several. Should more than one person
or entity sign this Note as a Borrower, the obligations of each such Borrower shall be joint and several. 
  
 4.3 Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of California. 
  

 IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first written above. 
  

			
	 Interlink Electronics, Inc.

		
	 By:
	 	 
	 	 	

	 Title:

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