Document:

PROMISSORY NOTE

 

 

	US$50,000.00 (Principal Amount)	June 20, 2012

 

FOR VALUE RECEIVED, the undersigned, Innolog
Holdings Corporation (“IHC”) and Innovative Logistics Techniques, Inc. (“Innolog”) (together the “Maker”),
jointly and severally promise to pay to the Kay M. Gumbinner Trust (the “Holder”), at such place as the Holder may
later designate in writing, in lawful money of the United States, the principal sum of FIFTY THOUSAND US DOLLARS ($50,00.00) (“Principal
Amount”) in accordance with this promissory note (the “Note”) under the terms set forth herein. All of the obligations
directly or indirectly due to Holder hereunder and in connection with the transactions contemplated hereby, including without limitation
principal, interest, fees, past due fees, settlement amounts, purchase prices, costs and expenses, and the amounts owed to BDR
Avanti Finance, LLC by Maker are collectively referred to as the “Obligations.”

 

Maker represents, warrants and covenants that the net proceeds
of this loan shall be used solely to pay the payroll, including payroll taxes for the employees of Maker which are currently due
and payable.

 

		1.	Repayments & Special Terms

 

Principal and interest under this Note is
due and payable on the earlier of (a) 1:00 PM EST on the business day following the receipt of the account receivable described
in Section 6 hereof and (b) 2:00 PM EDST Friday, July 5, 2012 (“Maturity Date”). Furthermore, this Note shall be repaid
as a first priority (other than to Atlas Advisors for repayment of its existing note) from any and all amounts received by Maker
from ANY accounts receivable received by any of Maker subject only to normal operating expenses and regular current operating accounts
payables until this Note is repaid in full. No payments are to be made to any other notes (other than to Atlas Advisors for repayment
of its existing note) or government agencies prior to the repayment of this Note.

 

Maker shall have the right to prepay at
any time and from time to time, in advance of maturity, all or part of the principal amount of this Note, along with the interest
and Fee and other amounts described hereunder. Each payment shall be applied first to the principal balance due.

 

In addition, on or before the Maturity Date,
Maker shall pay all amounts owed to BDR Avanti Finance, LLC ($21,866 as of June 1, 2012). Such amounts owed shall be secured by
the security interest provided herein and are part of the Obligations herein. Maker acknowledges and agrees that BDR Avanti Finance,
LLC is a third party beneficiary of this Note.

 

Maker represents and warrants that the statements
in the email dated September 24, 2011 1:30AM from Robert Gumbinner as confirmed and agreed by Mr. Danielczyk in an email dated
September 24, 2011 10:52AM are true and accurate and the terms of such email are incorporated herein by reference and made a part
hereof as representations, warranties and covenants with respect to this Note.

 

TIME IS OF THE ESSENCE on the repayment of this Note.
There is no grace period on the repayment and payment of the amounts due hereunder.

 

 

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		2.	Interest/Fee/Additional Compensation

 

(a) Maker shall pay to Payee a flat fee
(“Fee”) of Five Thousand Dollars ($5,000), due and payable on the Maturity Date, which Fee shall be deemed earned at
the time of the initial funding of the loan.

 

(b) In addition, Maker shall issue to Payee
or Payee’s designee 50,000 Warrants, convertible into common stock of Innolog Holdings Corporation, a Nevada corporation,
at an exercise price of $0.01 per share for five years from the date hereof, with such other terms that are substantially the same
as other similar warrants.

 

		3.	Late Fee and Default Interest

 

As noted above, time is of the essence
on the repayment of this Note. If this Note is not paid in full on or before the Maturity Date, there shall be a late fee of
ten percent (10%) or ($5,500). There shall accrue additional Late Fees of 10% of the outstanding amounts owed hereunder (principal,
plus interest, plus late fees) every ten (10) calendar days until repaid in full. In addition, after the Maturity Date, this Note
shall accrue interest from the Maturity Date at the rate of eighteen percent (18%) per annum, compounded daily until paid in full
(“Default Interest”). Such Default Interest shall be on the outstanding principal amount, the interest due under the
Note and the Late Fee(s).

 

		4.	Events of Default

 

The following shall constitute Events of
Default hereunder:

 

(a) If Maker or Guarantor defaults in the payment of
any amount due on this Note when due, including the payment of the settlement amount under the Forbearance Agreement and the payment
of amounts owed to BDR Avanti Finance, LLC (there is no requirement for any notice and there is no right to cure any failure
of payment when due); and

 

(b) If Maker uses any accounts receivables or other moneys
that come into the company other than for payment of amounts due to governmental agencies (e.g., IRS, Department of Labor or other
account related to 401k obligations due), normal operating expenses and regular current accounts payables before all amounts due
under this Note are repaid in full;

 

(c) If Maker directly or indirectly
redirects any of the Collateral or proceeds of the Collateral without first paying all of the amounts due hereunder;

 

(d) If Maker or Guarantor shall (i)
make a general assignment for the benefit of creditors, or (ii) apply for or consent to the appointment of a receiver, trustee
or liquidator for itself or all or a substantial part of its assets, or (iii) be adjudicated a bankrupt or insolvent, or (iv) file
a voluntary petition in bankruptcy or file a petition or an answer seeking reorganization or an arrangement with creditors or seeking
to take advantage of any other law (whether Federal or state) relating to relief of debtors, or admit (by answer, by default or
otherwise) the material allegations of a petition filed against it in any bankruptcy, reorganization, insolvency or other proceeding
(whether Federal or state) relating to relief of debtors, or (v) suffer or permit to continue unstayed and in effect for sixty
(60) consecutive days any judgment, decree or order entered by a court of competent jurisdiction, that approves an involuntary
petition seeking reorganization of Maker, or appoints, pursuant to such a petition, a receiver, trustee or liquidator for it or
all or a substantial part of its assets; and

 

(e) If any confession of judgment is
filed or threatened to be filed against IHC, Innolog or Guarantor;

 

 

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(f) If any lien or levy is imposed on
IHC, Innolog or Guarantor; and

 

(g) If any representation or warranty
of Maker is untrue or any covenant of Maker is breached, including the September 24, 2011 email.

 

		5.	Remedies

 

(a) Upon the occurrence of an Event of Default, Holder
may, in Holder's sole and absolute discretion and without notice or demand to Maker or to Guarantor, accelerate the due date of
any amounts owed hereunder and declare the entire amount of principal and interest thereon remaining outstanding hereunder immediately
due and payable, whereupon, the same shall forthwith become and be due and payable without any presentment, demand or notice of
any kind, all of which are expressly waived by Maker and Guarantor.

 

(b) If an Event of Default shall occur, the Maker and
Guarantor shall jointly and severally immediately pay the Holder, on demand by the Holder, all costs and expenses incurred by the
Holder in connection with the collection and enforcement of this Note, including attorneys' fees, accountants and tax advisor’s
fees and the amounts described above.

 

(c) Maker and Guarantor understand, acknowledge and
agree, that upon an Event of Default, Holder shall immediately file the confession of Judgments against each of IHC, Innolog
and Guarantor under this Note, the Guaranty, the Forbearance Agreement and the Forbearance Guaranty.

 

(d) Holder may immediately file and send to the
appropriate authorities the Letter form Maker directing that all payments under the two Navy Contracts listed below be sent
directly to the account designated by Holder until such time as Holder states in writing that all of the Obligations and all
amounts owed hereunder are paid in full.

 

		6.	Security

 

Maker hereby grants to Payee a security
interest in the following accounts receivable of Maker or Innolog as listed below:

 

1.N0017-08-C-20423 3018 ODCSLOG Contract Name: Navy;
(June Billing Amount submitted on or about June 4, 2012, for approximately $212,257), and if this Note is not repaid in full
with such proceeds any and all future billings thereunder, referred to by Maker as the “Big Navy” A/R each, as
may be more fully described in an Attachment A if so attached, and the proceeds therefrom from time to time (the
“Collateral”).

 

Maker shall execute and immediately deliver (a) such documents
and instruments as Payee may request from time to time to secure, evidence and perfect Payee's security interest and priority in
the Collateral; and (b) such documents and instruments as Payee may request from time to time to mandate that the US Navy direct
and make any and all future payments to the Holder at such account as designated by Holder, until such time as this Note, all of
the Obligations hereunder, and all other payment obligations herein are paid in full; and (c) such powers of attorney as may be
requested by Holder in order for Holder to act upon and receive direct payment of the Collateral from the US Navy or any governmental
agency related thereto.

 

 

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In addition, this Note and the Obligations,
including the full and prompt payment of and the performance of this Note and the commitments hereunder and a backstop of any clawback,
preference or alleged preference of the payments made hereunder to Holder by any court, trustee or governmental body of any kind
are directly, unconditionally and irrevocably guaranteed by Dr. Ian Reynolds, an individual (“Guarantor”) pursuant
to a Guaranty and Indemnity Agreement with Guarantor of even date herewith (the “Guaranty”). In addition to the Guaranty,
all of the Obligations are secured by the accounts receivable of Maker; provided, however that the holder may not file any instruments
perfecting such security interest until after the Maturity Date. Upon request by the Holder, Maker shall immediately execute and
deliver such security interests, UCC-I and other filing statements or other documents or interests requested by Holder in order
to perfect the above-referenced security interests.

 

		7.	Priority of Repayment.

 

This Note shall be repaid by Maker prior
to the repayment of any other debt of Maker other than normal operating expenses and the repayment of the existing outstanding
loan to Atlas Advisors.

 

		8.	Miscellaneous

 

(a) This Note shall be deemed to be made and entered
into under the laws of the Commonwealth of Virginia and for all purposes shall be construed and enforced in accordance with the
laws of the Commonwealth of Virginia, without giving effect to any of the conflicts of law principles which would result in the
application of the substantive law of another jurisdiction. Maker and Guarantor (i) hereby irrevocably submit to the exclusive
jurisdiction of the United States District Court sitting in the Northern District of Virginia and the courts of the Commonwealth
of Virginia located in Fairfax County for the purposes of any suit, action or proceeding arising out of or relating to this Note
and (ii) hereby waive, and agree not to assert in any such suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of
the suit, action or proceeding is improper.

 

(b) This Note shall be binding upon Maker and Maker's
successors and assigns and shall inure to the benefit of Holder and Holder's successors and assigns; and each reference herein
to Maker or to Holder shall, except where the context shall otherwise require, be deemed to include its respective successors and
assigns. This Note shall be binding upon Guarantor and Guarantor's heirs, successors and assigns and shall inure to the benefit
of Holder and Holder's successors and assigns; and each reference herein to Guarantor, except where the context shall otherwise
require, be deemed to include its heirs, successors and assigns. Notwithstanding the foregoing, neither Maker nor Guarantor shall
have any right to assign his obligations hereunder without Holder's prior written consent.

 

(c) Any failure by Holder to exercise any right or remedy
hereunder shall not constitute a waiver of the right to exercise the same or any other right or remedy at any subsequent time,
and no single or partial exercise of any right or remedy shall preclude other or further exercise of the same or any other right
or remedy.

 

(d) Maker
and Guarantor, and all others that may become liable for all or any part of the obligations evidenced by this Note, hereby waive
presentment, demand, notice of nonpayment, protest and all other demands’ and notices in connection with the delivery, acceptance,
performance and enforcement of this Note, and do hereby consent to any number of renewals of extensions of the time or payment
hereof and agree that any such renewals or extensions may be made without notice to any such persons and without affecting their
liability herein and do further consent to the release of any person liable hereon, all without affecting the liability of the
other persons, firms or Maker or Guarantor liable for the payment of this Note, AND DO HEREBY WAIVE TRIAL BY JURY.

 

 

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(i)
No delay or omission on the part of the Holder in exercising its rights under this Note, or course of conduct relating hereto,
shall operate as a waiver of such rights or any other right of the Holder, nor shall any waiver by the Holder of any such right
or rights on any one occasion be deemed a waiver of the same right or rights on any future occasion.

 

(ii)
THE MAKER AND GUARANTOR ACKNOWLEDGE THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A COMMERCIAL TRANSACTION, AND TO THE EXTENT
ALLOWED BY APPLICABLE LAW, HEREBY WAIVE ITS RESPECIVE RIGHT TO NOTICE AND HEARING WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH
THE HOLDER OR ITS SUCCESSORS OR ASSIGNS MAY DESIRE TO USE.

 

(e) The remedies provided in this Note
shall be cumulative and in addition to all other remedies available under this Note, at law or in equity (including, without limitation,
a decree of specific performance and/or other injunctive relief), no remedy contained herein shall be deemed a waiver of compliance
with the provisions giving rise to such remedy and nothing herein shall limit a Holder’s right to pursue actual damages for
any failure by the Maker or Guarantor to comply with the terms of this Note. Amounts set forth or provided for herein with respect
to payments, the warrants and the like (and the computation thereof) shall be the amounts to be received by the Holder thereof
and shall not, except as expressly provided herein, be subject to any other obligation of the Maker or Guarantor (or the performance
thereof). The Maker and the Guarantor acknowl-edge that a breach by it of its obligations hereunder will cause irreparable and
material harm to the Holder and that the remedy at law for any such breach may be inadequate. Therefore the Maker and Guarantor
each agree that, in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all other available
rights and remedies, at law or in equity, to seek and obtain such equitable relief, including but not limited to an injunction
restraining any such breach or threatened breach, without the necessity of showing economic loss and without any bond or other
security being required.

 

(f) Maker and Guarantor shall pay all
costs and expenses associated with this Note, the loan and the transactions contemplated hereby and hereunder.

 

(g) Maker and Guarantor agree to pay
immediately upon request and without any need of any approvals or determinations of any kind all costs and expenses of enforcement
of this Note, including, without limitation, attorneys’ fees and expenses.

 

(h) Maker and Guarantor shall
immediately execute and deliver such other documents, agreements and instruments as requested by Holder to carry out the
intent of this Note and related documents and to protect Holder’s interests in any collateral or otherwise.

 

(i) None
of the terms and provisions hereof may be waived, altered, modified, or amended except by an agreement in writing signed by Maker
and Holder.

 

 

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(j) Maker acknowledges the position of Fred Gumbinner
as a trustee and beneficiary of Holder and as the son of Robert Gumbinner, the primary trustee and beneficiary of Maker, as a Manager
and beneficiary of BDR Avanti Finance, LLC and as a consultant and legal counsel for Maker. Maker also acknowledges that Maker
has repeatedly requested the assistance and involvement of Fred Gumbinner in procuring loans from Holder and in negotiating and
drafting promissory notes, forbearance agreements and other documents related thereto. Maker specifically now and forever with
full and complete knowledge, corporate authority and consent, waives any conflict of interest by or potential conflict of interest
of Fred Gumbinner and hereby indemnifies and holds him harmless against any losses, claims or other actions of any kind.

 

(j) Maker
and Guarantor understand, acknowledge and agree that the occurrence of an Event of Default hereunder shall cause acceleration
of not only this Note and the Obligations hereunder, but also acceleration of the Forbearance Agreement and additional late
fees and obligations thereunder.

 

CONFESSED JUDGMENT 

 

THIS INSTRUMENT CONTAINS A CONFESSION
OF JUDGMENT PROVISION WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS YOU MAY HAVE AS A DEBTOR OR GUARANTOR AND ALLOWS THE HOLDER
TO OBTAIN A JUDGMENT AGAINST YOU WITHOUT ANY FURTHER NOTICE.

 

Maker, Innolog Holdings Corporation
and Innovative Logistics Techniques, Inc., and Guarantor, jointly and severally (all three collectively hereinafter referred to
as “Debtor”), promise to pay to the order of Holder the sum of ONE HUNDRED THOUSAND DOLLARS AND ZERO CENTS ($100,000.00),
plus any additional Late Fee(s), plus interest at 18% per annum, compounded daily, from the Maturity Date until paid, including
and after the recording of this confession of judgment, plus all costs of collection, including all attorneys’ fees, and
accounting fees less credit for any payments made.

 

Debtor hereby appoints the following persons,
or any one of them, as the undersigned’s attorney-in-fact for the purpose of confessing judgment in favor of KAY M. GUMBINNER
TRUST and Robert Gumbinner and Fred Gumbinner, trustees under a trust agreement dated January 9, 2008 (known as the Kay M. Gumbinner
Trust), to wit:

 

Richard A. Golden, of 10627 Jones Street,
#101B, Fairfax, Virginia 22030

Randall Borden, of 10627 Jones Street, #201A,
Fairfax, Virginia 22030.

 

The undersigned’s said attorneys in
fact are explicitly authorized, whether a suit, motion or action be pending for the indebtedness or not, to confess judgment in
favor of the KAY M. GUMBINNER TRUST and Robert Gumbinner and Fred Gumbinner, trustees under a trust agreement dated January 9,
2008 (known as the Kay M. Gumbinner Trust), in the amount of $100,000.00, plus all costs and expenses of collection (including
attorneys’ fees), plus additional late fees, plus interest from the date of judgment so confessed at the rate of 18% per
annum, compounded monthly, or such lesser amount of principal plus interest as the creditor may be willing to accept.

 

 

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Such confession of judgment may be made
in the clerk’s office of the circuit court in the Commonwealth of Virginia, located at Fairfax, Virginia.

 

Furthermore, Maker and Guarantor, jointly
and severally acknowledge the Holders right to pursue the guarantee, the Collateral, the security and the accounts receivable securing
this debt and the Confessed Judgment. Debtor hereby expressly waives the benefit of any homestead exemption as to this debt and
waives demand, protest, notice of presentment, notice of protest, and notice of non-payment and dishonor of this note. Debtor
agrees this confessed judgment note is provided not in payment of, but as additional security for and evidence of obligations due
to the Holder under the Note.

 

 

 

 

[Signature Page on Following Page]

 

 

    	- 7 -

    	 

    

 

IN WITNESS WHEREOF, the undersigned, intending to be legally
bound, each represent and warrant that he is duly authorized and empowered to enter into this agreement and Maker has caused this
Note to be executed as of the day and year first above written by its duly authorized and empowered officer(s) or representative(s).

 

 

	 	 	MAKER
	 	 	 
	 	 	Innolog Holdings Corporation
	 	 	 
	 	 	 
	 	 	By: 	 
	 	 	 	William P. Danielczyk
Executive Chairman, Chairman & Authorized Representative
	 	 	 	 
	 	 	 	 
	 	 	Innovative Logistics Techniques,
Inc.
	 	 	 	 
	 	 	 	 
	 	 	By:	 
	 	 	 	Eric Wagner
	 	 	 	Officer & Authorized
Representative
	 	 	 	 
	 	 	 	 
	WITNESSED	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Name:	 	 	 
	 	 	 	 
	 	 	 	 
	THIS NOTE IS ENDORSED BY GUARANTOR AS IF GUARANTOR WAS THE
MAKER HEROF	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Dr. Ian Reynolds	 	 	 

 

 

    	- 8 -Exhibit 10.49a

 

Confidential material appearing in this document
has been omitted and filed separately with the Securities and Exchange Commission in accordance with Rule 24b-2, promulgated under
the Securities and Exchange Act of 1934, as amended. Omitted information has been replaced with asterisks.

 

ADDENDUM ONE

TO EQUIPMENT LEASE AGREEMENT

 

This ADDENDUM ONE TO
EQUIPMENT LEASE AGREEMENT (this “Addendum”) is dated effective as of December 23, 2011, between Mercy Health Center,
an Oklahoma not for profit corporation (“Hospital”), and GK Financing, LLC, a California limited liability company
(“GKF”).

 

Recitals:

 

WHEREAS, GKF and Hospital
are parties to a certain Equipment Lease Agreement dated May 28, 2004 (the “Lease”), which provides in Section 13 thereof,
that the parties shall mutually discuss and decide on the necessity for reloading of the Cobalt-60 source in the Equipment; and

 

WHEREAS, the parties
desire to set forth herein their agreement regarding the reloading of the Equipment.

 

NOW, THEREFORE, in
consideration of the mutual covenants, conditions, and agreements set forth herein, and for the other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

Agreement:

 

1.         Defined
Terms. Unless otherwise defined herein, the capitalized terms used herein shall have the same meanings set forth in the
Lease.

 

2.         Cobalt
Reload of the Equipment. The Equipment shall be reloaded with new cobalt-60 that meets the manufacturer’s radioactivity
level specifications (the “Reload”), subject to the following terms and conditions:

 

		a.	Scheduling and Process for the Reload. The Reload shall be performed at the Site and shall
include any required installation and rigging. Subject to scheduling availability, GKF shall use its commercially reasonable efforts
to perform the Reload in the first quarter of 2012; provided that the Reload shall be performed only after all necessary
and appropriate licenses, permits, approvals, consents and authorizations, including, without limitation, the proper handling of
the cobalt-60 (collectively, the “Permits”), have been obtained by Hospital at Hospital’s sole cost and expense
(other than any filing, registration or licensing fees which shall be paid * by GKF and * by Hospital). The timing and procedure
for such Reload shall be as mutually agreed upon between the parties. Notwithstanding anything to the contrary contained in this
Addendum, GKF makes no representation or warranty to Hospital concerning the Reload, and GKF shall have no obligation or liability
to pay any damages to Hospital resulting therefrom, including, without limitation, any lost revenues or profits during the period
of time that the Equipment is unavailable to perform procedures due to the Reload process.

 

    	 

    	 

    

 

Exhibit 10.49a

 

		b.	Hospital Personnel and Services. Upon request and as required by GKF, Hospital, at Hospital’s
cost and expense, shall provide GKF with Hospital personnel (including Hospital’s physicists) and services in connection
with the Reload, among other things, to oversee, supervise and assist with construction and compliance with local, state and federal
regulatory requirements and with nuclear regulatory compliance issues and the calibration of the Equipment.

 

		c.	Costs of Reload. The actual costs of the Reload paid or payable to third parties (which
is estimated to be between * and *) shall be shared equally between GKF and Hospital. Neither GKF nor Hospital shall be entitled
to reimbursement for its own respective personnel costs, internal costs or overhead.

 

		d.	Extension of Term for Downtime. The Term of the Lease shall be extended for the period of
time that the Equipment is unavailable to perform procedures due to the Reload (which is estimated to take approximately ______
(__) weeks for the Reload).

 

		e.	No Additional Responsibilities. It is understood by the parties that GKF is not responsible
for any upgrades, hardware, cobalt reloading, software changes and/or other modifications to the Equipment, except as expressly
set forth herein or otherwise agreed upon in writing by Hospital and GKF.

 

3.          Captions.
The captions and paragraph headings used herein are for convenience only and shall not be used in construing or interpreting this
Addendum.

 

4.          Full
Force and Effect. Except as amended by this Addendum, all of the terms and provisions of the Lease shall remain in full
force and effect.

 

IN WITNESS WHEREOF,
the parties have executed this Addendum One effective as of the date first written above.

 

	GKF:	 	Hospital:
	 	 	 
	GK Financing, LLC	 	Mercy Health Center
	 	 	An Oklahoma Not for Profit Corporation
	 	 	 	 	 
	By:  	/s/Ernest A. Bates, M.D.	 	By:	/s/ Jim R. Gebhart
	 	Ernest A. Bates, M.D.	 	Name:  	Jim R. Gebhart
	 	Policy Committee Member	 	Title:	President

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