Document:

ESSA BANK & TRUST
                            ENDORSEMENT SPLIT DOLLAR
                            LIFE INSURANCE AGREEMENT

     THIS ENDORSEMENT SPLIT-DOLLAR LIFE INSURANCE AGREEMENT (the "Agreement") is
adopted  this 1st day of October,  2008,  by and between  ESSA Bank & Trust (the
"Bank"), and V. Gail Warner (the "Executive").

     The purpose of this  Agreement  is to retain and reward the  Executive,  by
dividing the death proceeds of certain life  insurance  policies which are owned
by the Bank on the life of the Executive with the designated  beneficiary of the
Executive.  The Bank  will  pay the life  insurance  premiums  from its  general
assets.

                                    Article 1
                                   Definitions

     Whenever  used in this  Agreement,  the  following  terms  shall  have  the
meanings specified:

1.1  "Bank's   Interest"   means  the   benefit   set  forth  in  Section   2.1.

1.2  "Beneficiary"  means each designated  person, or the estate of the deceased
     Executive,  entitled to benefits, if any, upon the death of the Executive.

1.3  "Beneficiary Designation Form" means the form established from time to time
     by the Plan Administrator that the Executive  completes,  signs and returns
     to the Plan Administrator to designate one or more Beneficiaries.

1.4  "Board"  means  the  Board of  Directors  of the Bank as from  time to time
     constituted.

1.5  "Executive's  Interest"  means  the  benefit  set  forth  in  Section  2.2.

1.6  "Insurer" means the insurance company issuing the Policy on the life of the
     Executive.

1.7  "Net Death Proceeds" means the total death proceeds of the Policy minus the
     greater of (i) the cash surrender value or (ii) the aggregate premiums paid
     by the Bank.

1.8  "Normal  Retirement  Age"  means  the  Executive's  attainment  of age  65.

1.9  "Policy" or "Policies"  means the individual  insurance  policy or policies
     adopted by the Bank for  purposes of insuring  the  Executive's  life under
     this Agreement.

                                    Article 2
                           Policy Ownership/Interests

2.1  Bank's  Interest.  The Bank shall own the Policies and shall have the right
     to exercise all incidents of ownership,  except as limited herein. The Bank
     shall be the  beneficiary  of the remaining  death proceeds of the Policies
     after the  Executive's  Interest  is  determined  according  to Section 2.2
     below.

<PAGE>

2.2  Executive's  Interest.  Upon  Executive's  death (1) while  employed by the
     Bank; and (2) prior to Normal  Retirement Age, the Executive's  Beneficiary
     shall be entitled to an amount of death  proceeds  equal to four times (4X)
     current  base  salary (as  defined by the Bank) or 100% of the  net-at-risk
     insurance  portion of the  proceeds,  whichever  is less.  The  net-at-risk
     insurance  portion is the total proceeds less the cash value of the Policy.
     In no event shall the death benefit hereunder exceed the Net Death Proceeds
     of the Policy. The Executive,  or the Executive's assignee,  shall have the
     right to designate the Beneficiary pursuant to the terms of this Agreement.
     Upon the  earlier of (1)  Executive's  termination  of  employment  for any
     reason;  or (2)  Executive's  attainment  of Normal  Retirement  Age,  this
     Agreement shall  automatically  terminate and no death benefit shall be due
     hereunder.

2.3  Bank has no Obligation to Pay. Death proceeds  payable under this Agreement
     shall be paid solely by the Insurer from the proceeds of any Policy(ies) on
     the life of the  Insured.  In no event shall the Bank be obligated to pay a
     death  benefit  under this  Agreement  from its  general  funds.  Should an
     Insurer refuse or be unable to pay death proceeds endorsed to Insured under
     the  express  terms  of this  Agreement,  or  should  the Bank  cancel  the
     Policy(ies)  for any  reason,  Executive's  Beneficiary(ies)  shall  not be
     entitled to a death benefit.

                                    Article 3
                           Premiums and Imputed Income

3.1  Premium Payment. The Bank shall pay all premiums due on all Policies.

3.2  Economic   Benefit.   The  Bank  shall   determine  the  economic   benefit
     attributable  to the Executive  based on the life insurance  premium factor
     for the  Executive's  age multiplied by the aggregate death benefit payable
     to the  Beneficiary.  The "life  insurance  premium  factor" is the minimum
     factor  applicable under guidance  published  pursuant to Treasury Reg. ss.
     1.61-22(d)(3)(ii) or any subsequently applicable authority.

3.3  Imputed Income. The Bank shall impute the economic benefit to the Executive
     on an annual basis, by adding the economic  benefit to the Executive's W-2,
     or if applicable, Form 1099.

                                    Article 4
                               General Limitations

4.3  Suicide or  Misstatement.  No  benefits  shall be payable if the  Executive
     commits  suicide during the Policy  exclusion  period,  or if the insurance
     company denies coverage (i) for material  misstatements of fact made by the
     Executive on any application  for life insurance  purchased by the Bank, or
     (ii) for any other reason;  provided,  however that the Bank shall evaluate
     the reason for the denial, and upon advice of legal counsel and in its sole
     discretion, consider judicially challenging any denial.

<PAGE>

                                    Article 5
                                  Beneficiaries

5.1  Beneficiary.  The Executive shall have the right, at any time, to designate
     a Beneficiary(ies) to receive any benefits payable under the Agreement upon
     the death of the Executive. The Beneficiary designated under this Agreement
     may be the same as or different from the beneficiary  designation under any
     other Agreement of the Bank in which the Executive participates.

5.2  Beneficiary   Designation;   Change.   The  Executive   shall  designate  a
     Beneficiary by completing and signing the Beneficiary Designation Form, and
     delivering  it to  the  Bank  or  its  designated  agent.  The  Executive's
     beneficiary  designation  shall  be  deemed  automatically  revoked  if the
     Beneficiary predeceases the Executive or if the Executive names a spouse as
     Beneficiary and the marriage is subsequently dissolved. The Executive shall
     have the right to change a Beneficiary by completing, signing and otherwise
     complying with the terms of the Beneficiary Designation Form and the Bank's
     rules and  procedures,  as in effect from time to time. Upon the acceptance
     by  the  Bank  of a  new  Beneficiary  Designation  Form,  all  Beneficiary
     designations  previously  filed  shall  be  cancelled.  The  Bank  shall be
     entitled  to rely on the last  Beneficiary  Designation  Form  filed by the
     Executive and accepted by the Bank prior to the Executive's death.

5.3  Acknowledgment.  No  designation  or change in designation of a Beneficiary
     shall be effective until received,  accepted and acknowledged in writing by
     the Bank or its designated agent.

5.4  No  Beneficiary  Designation.   If  the  Executive  dies  without  a  valid
     designation of beneficiary,  or if all designated  Beneficiaries predecease
     the  Executive,   then  the  Executive's  surviving  spouse  shall  be  the
     designated  Beneficiary.  If the  Executive  has no surviving  spouse,  the
     benefits  shall  be made  payable  to the  personal  representative  of the
     Executive's estate.

5.5  Facility  of  Payment.  If the Bank  determines  in its  discretion  that a
     benefit is to be paid to a minor, to a person declared incompetent, or to a
     person incapable of handling the disposition of that person's property, the
     Bank  may  direct   payment  of  such  benefit  to  the   guardian,   legal
     representative  or  person  having  the  care or  custody  of  such  minor,
     incompetent  person or  incapable  person.  The Bank may  require  proof of
     incompetence,  minority or guardianship as it may deem appropriate prior to
     distribution  of the benefit.  Any payment of a benefit  shall be a payment
     for the account of the Executive and the  Executive's  Beneficiary,  as the
     case may be, and shall be a complete  discharge of any liability  under the
     Agreement for such payment amount.

                                    Article 6
                                   Assignment

     The Executive  may  irrevocably  assign  without  consideration  all of the
Executive's  Interest in this Agreement to any person,  entity, or trust. In the
event the Executive shall transfer all of the Executive's Interest,  then all of
the  Executive's  Interest in this Agreement  shall be vested in the Executive's
transferee,  who shall be  substituted as a party  hereunder,  and the Executive

<PAGE>

shall have no further interest in this Agreement.

                                    Article 7
                                     Insurer

     The  Insurer  shall be bound  only by the  terms of its given  Policy.  The
Insurer shall not be bound by or deemed to have notice of the provisions of this
Agreement.   The   Insurer   shall   have  the  right  to  rely  on  the  Bank's
representations  with  regard  to any  definitions,  interpretations  or  Policy
interests as specified under this Agreement.

                                    Article 8
                           Claims And Review Procedure

8.1  Claims  Procedure.  The Executive or Beneficiary  ("claimant")  who has not
     received  benefits  under the Agreement  that he or she believes  should be
     paid shall make a claim for such benefits as follows:

     8.1.1 Initiation  -  Written  Claim.  The  claimant  initiates  a claim  by
          submitting to the Bank a written claim for the benefits.

     8.1.2 Timing of Bank  Response.  The Bank shall  respond  to such  claimant
          within 90 days after  receiving the claim. If the Bank determines that
          special  circumstances  require  additional  time for  processing  the
          claim,  the Bank can extend the response  period by an  additional  90
          days by  notifying  the  claimant in writing,  prior to the end of the
          initial  90-day  period,  that an additional  period is required.  The
          notice of extension must set forth the special  circumstances  and the
          date by which the Bank expects to render its decision.

     8.1.3 Notice of Decision.  If the Bank denies part or all of the claim, the
          Bank shall  notify the  claimant in writing of such  denial.  The Bank
          shall write the  notification in a manner  calculated to be understood
          by the claimant. The notification shall set forth:

          (a)  The  specific  reasons  for the denial;
          (b)  A reference to the specific  provisions of the Agreement on which
               the denial is based;
          (c)  A description of any additional information or material necessary
               for the claimant to perfect the claim and an  explanation  of why
               it is needed;
          (d)  An explanation of the Agreement's  review procedures and the time
               limits applicable to such procedures; and
          (e)  A statement of the claimant's right to bring a civil action under
               ERISA Section 502(a)  following an adverse benefit  determination
               on review.

8.2  Review Procedure. If the Bank denies part or all of the claim, the claimant
     shall have the  opportunity  for a full and fair  review by the Bank of the
     denial, as follows:

     8.2.1 Initiation - Written Request.  To initiate the review,  the claimant,
          within 60 days after receiving the Bank's notice of denial,  must file
          with the Bank a written request for review.
<PAGE>

     8.2.2 Additional  Submissions - Information Access. The claimant shall then
          have the opportunity to submit written  comments,  documents,  records
          and other  information  relating  to the  claim.  The Bank  shall also
          provide the  claimant,  upon  request  and free of charge,  reasonable
          access to, and copies of, all documents, records and other information
          relevant  (as  defined  in  applicable   ERISA   regulations)  to  the
          claimant's claim for benefits.

     8.2.3 Considerations on Review.  In considering the review,  the Bank shall
          take into account all materials and information  the claimant  submits
          relating to the claim,  without regard to whether such information was
          submitted or considered in the initial benefit determination.

     8.2.4 Timing of Bank's Response.  The Bank shall respond in writing to such
          claimant within 60 days after receiving the request for review. If the
          Bank determines that special circumstances require additional time for
          processing  the claim,  the Bank can extend the response  period by an
          additional 60 days by notifying the claimant in writing,  prior to the
          end of the  initial  60-day  period,  that  an  additional  period  is
          required.   The  notice  of  extension  must  set  forth  the  special
          circumstances  and the date by which the Bank  expects  to render  its
          decision.

     8.2.5 Notice of Decision.  The Bank shall notify the claimant in writing of
          its  decision on review.  The Bank shall write the  notification  in a
          manner  calculated to be understood by the claimant.  The notification
          shall set forth:

          (a)  The  specific  reasons  for the denial;
          (b)  A reference to the specific  provisions of the Agreement on which
               the denial is based;
          (c)  A statement  that the  claimant  is  entitled  to  receive,  upon
               request and free of charge,  reasonable access to, and copies of,
               all documents, records and other information relevant (as defined
               in applicable  ERISA  regulations)  to the  claimant's  claim for
               benefits; and
          (d)  A statement of the claimant's right to bring a civil action under
               ERISA Section 502(a).

                                    Article 9
                           Amendments and Termination

This  Agreement  may be amended or terminated  unilaterally  by the Bank for any
reason.

                                   Article 10
                                 Administration

10.1 Plan Administrator  Duties.  This Agreement shall be administered by a Plan
     Administrator  which  shall  consist of the  Board,  or such  committee  or
     persons as the Board may choose. The Plan Administrator shall also have the
     discretion  and  authority to (i) make,  amend,  interpret  and enforce all
     appropriate rules and regulations for the  administration of this Agreement

<PAGE>
     and (ii) decide or resolve any and all questions including  interpretations
     of this Agreement, as may arise in connection with this Agreement.

10.2 Agents. In the administration of this Agreement, the Plan Administrator may
     employ  agents and delegate to them such  administrative  duties as it sees
     fit,  (including acting through a duly appointed  representative),  and may
     from time to time consult with counsel who may be counsel to the Bank.

10.3 Binding   Effect  of  Decisions.   The  decision  or  action  of  the  Plan
     Administrator  with respect to any question arising out of or in connection
     with the  administration,  interpretation and application of this Agreement
     and the  rules and  regulations  promulgated  hereunder  shall be final and
     conclusive  and  binding  upon all  persons  having  any  interest  in this
     Agreement.

10.4 Indemnity of Plan Administrator. The Bank shall indemnify and hold harmless
     the members of the Plan Administrator  against any and all claims,  losses,
     damages,  expenses or liabilities arising from any action or failure to act
     with respect to this Agreement, except in the case of willful misconduct by
     the Plan Administrator or any of its members.

10.5 Information. To enable the Plan Administrator to perform its functions, the
     Bank shall supply full and timely  information to the Plan Administrator on
     all matters relating to the date and  circumstances of termination or death
     of the  Executive,  and  such  other  pertinent  information  as  the  Plan
     Administrator may reasonably require.

                                   Article 11
                                  Miscellaneous

11.1 Binding Effect. This Agreement shall bind the Executive and the Bank, their
     beneficiaries, survivors, executors, administrators and transferees and any
     Beneficiary.

11.2 No Guarantee of Employment.  This Agreement is not an employment  policy or
     contract.  It does not give the  Executive the right to remain an Executive
     of the Bank,  nor does it interfere  with the Bank's right to discharge the
     Executive.  It also does not require the  Executive  to remain an Executive
     nor interfere  with the  Executive's  right to terminate  employment at any
     time.

11.3 Applicable Law. The Agreement and all rights hereunder shall be governed by
     and  construed  according  to the laws of the  state  where  the  principal
     offices of the Bank reside,  except to the extent  preempted by the laws of
     the United States of America.

11.4 Notice.  Any notice or filing required or permitted to be given to the Bank
     under this Agreement shall be sufficient if in writing and  hand-delivered,
     or sent by registered or certified mail, to the address below:
<PAGE>

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     Such  notice  shall  be  deemed  given as of the date of  delivery  or,  if
     delivery  is made by mail,  as of the date  shown  on the  postmark  or the
     receipt for registration or certification.

     Any notice or filing  required or  permitted  to be given to the  Executive
     under this Agreement shall be sufficient if in writing and  hand-delivered,
     or sent by mail, to the last known address of the Executive.

11.5 Entire Agreement.  This Agreement,  along with the Executive's  Beneficiary
     Designation Form, constitutes the entire agreement between the Bank and the
     Executive  as to the subject  matter  hereof.  No rights are granted to the
     Executive  under this  Agreement  other than those  specifically  set forth
     herein.

     IN WITNESS  WHEREOF,  the parties have executed this Agreement on the dates
set forth below.

                                              ESSA BANK & TRUST

 9-30-2008                                    By: /s/Gary S. Olson
------------------------------                   ------------------------------
Date

 9-30-2008                                        /s/ V. Gail Warner
------------------------------                   ------------------------------
Date                                             Executiveexh10-1_convnote.htm

     

    
      

      

    

     

     

     

     

     

     

     

     

     

     

    EXHIBIT 10.1

     

    CONVERTIBLE NOTE IN FAVOR OF GORDON E.
BECKSTEAD

    DATED SEPTEMBER 30, 2008

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    THE
SECURITIES REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 (THE “ACT”) OR APPLICABLE STATE SECURITIES LAWS (THE
“STATE ACTS”), AND SHALL NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED, OR
OTHERWISE TRANSFERRED (WHETHER OR NOT FOR CONSIDERATION) BY THE HOLDER EXCEPT
UPON THE ISSUANCE TO THE COMPANY OF A FAVORABLE OPINION OF ITS COUNSEL OR
SUBMISSION TO THE COMPANY OF SUCH OTHER EVIDENCE AS MAY BE SATISFACTORY TO
COUNSEL FOR THE COMPANY, TO THE EFFECT THAT ANY SUCH TRANSFER SHALL NOT BE IN
VIOLATION OF THE ACT AND THE STATE ACTS.

    

    V2K
INTERNATIONAL, INC.

    A
Colorado Corporation

    

    CONVERTIBLE
NOTE

    

     September
30, 2008

    NO.
001

    

    V2K INTERNATIONAL, INC., a Colorado
corporation (the “Company”), is
indebted and, for value received, promises to pay to the order of Gordon E. Beckstead on June
30, 2009 (the “Maturity Date”),
(unless this Note shall have been sooner called for prepayment as herein
provided), upon presentation of this Note, THREE HUNDRED SIXTY THOUSAND, FOUR
HUNDRED AND THIRTEEN DOLLARS ($360,413.00) (the “Principal Amount”)
and to pay interest on the Principal Amount at a rate equal to Twelve Percent
(12%) per annum.

    

    The Company covenants, promises and
agrees as follows:

     

    1.           Collateral.  As
security for the obligations of the Note, the Borrower pledges and grants to
Lender a security position in the assets of Borrower’s wholly owned subsidiary,
V2K Technology.

     

    2.           Interest. Interest which
shall accrue on the Principal Amount shall be payable in cash in semi-annual
installments on January 15 and July 15 in each and every calendar year until the
Principal Amount and all accrued and unpaid interest shall have been paid in
full. Interest on this Note shall accrue from October 1, 2008.  If
this date is other than the first day of a semi-annual period, the interest
payable shall be prorated upon the number of days of such semi-annual period
during which this Note shall have been issued and outstanding. All accrued and
unpaid interest shall be payable on the Maturity Date. The first payment of
interest shall be made on January 15, 2009.

     

    3.           Extension of Maturity
Date.  At the option of the Company, the Maturity Date of this
Note may be extended for up to an additional three (3) months upon written
notice to the holder of this Note as it appears on the books of the Company, so
long as the Company is not in default under the terms of this Note.

    

    
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International, Inc. Convertible Note -
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    4.           Conversion.

     

    4.1.          Holder’s Right to
Convert.  The holder of this Note shall have the right, at such
holder’s option, at any time, to convert all or any portion of this Note into
such number of fully paid and nonassessable shares of Common Stock of the
Company as shall be provided herein.

     

    4.2           Conversion
Price.  The Conversion Price shall be equal to 90% of the
volume-weighted average price of the Company’s Common Stock for the 20
consecutive trading days ending on the trading day immediately preceding the
Conversion Date; provided, however, that the Conversion Price shall not be less
than $0.15.

     

    4.3.          Notice of
Conversion.  The holder of this Note may exercise the
conversion right provided in this Section 3 by giving written notice (the “Conversion Notice”)
to the Company of the exercise of such right and stating the name or names in
which the stock certificate or stock certificates for the shares of Common Stock
are to be issued and the address to which such certificates shall be delivered.
The Conversion Notice shall be accompanied by the Note. The number of shares of
Common Stock that shall be issuable upon conversion of the Note shall equal the
Principal Amount to be converted divided by the Conversion Price, rounded to the
nearest whole share.

     

    4.4.          Conversion
Procedure.  Conversion shall be deemed to have been effected on
the date the Conversion Notice is given (the “Conversion Date”).
Within ten (10) business days after receipt of the Conversion Notice, the
Company shall issue and deliver by hand against a signed receipt therefor or by
United States registered mail, return receipt requested, to the address
designated by the holder of this Note in the Conversion Notice, a stock
certificate or stock certificates of the Company representing the number of
shares of Common Stock to which such holder is entitled and a check or cash in
payment of all interest accrued and unpaid on the Note up to and including the
Conversion Date.

     

    4.5.          Taxes. The Company shall pay
all documentary, stamp or other transactional taxes and charges attributable to
the issuance or delivery of shares of stock of the Company upon conversion;
provided, however, that the Company shall not be required to pay any taxes which
may be payable in respect of any transfer involved in the issuance or delivery
of any certificate for such shares in a name other than that of the record
holder of this Note.

     

    4.6.          Reservation of Shares. The
Company shall at all times reserve and keep available, free from preemptive
rights, unissued or treasury shares of Common Stock sufficient to effect the
conversion of this Note.

     

    5.           Reorganization, Reclassification,
Consolida­tion, Merger or Sale. In case of
any reclassification, capital reorganization, consolidation, merger, sale of all
or substan­tially all of the Company’s assets to another Person or any other
change in the Common Stock of the Company, other than as a result of a
subdivision or combination (a “Change Event”), then
lawful provision shall be made, and duly executed documents evidencing the same
from the Company or its successor shall be delivered to the holder of this Note,
so that the holder shall have the right at any time prior to the Maturity Date
to convert this Note into the kind and amount of shares of 

     

    
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International, Inc. Convertible Note -
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    stock and
other securities and property receivable in connection with such Change Event by
a holder of the same number of shares of Common Stock as were obtainable by the
holder immediately prior to such Change Event.  In any such case
appropriate provisions shall be made with respect to the rights and interest of
the holder so that the provisions hereof shall thereafter be applicable with
respect to any shares of stock or other securities and property deliverable upon
conversion hereof, and appropriate adjustments shall be made to the conversion
price per share payable hereunder, provided the aggregate conversion price shall
remain the same.

    

    6.           Default.

     

    6.1.          Events of
Default.  The entire unpaid and unredeemed balance of the
Principal Amount and all Interest accrued and unpaid on this Note shall, at the
election of the holder, be and become immediately due and payable upon the
occurrence of any of the following events (a “Default
Event”):

     

    (a)           The
non-payment by the Company when due of principal and interest or of any other
payment as provided in this Note or with respect to any other Note issued by the
Company.

     

    (b)           If
the Company (i) applies for or consents to the appointment of, or if there shall
be a taking of possession by, a receiver, custodian, trustee or liquidator for
the Company or any of its property; (ii) becomes generally unable to pay its
debts as they become due; (iii) makes a general assignment for the benefit of
creditors or becomes insolvent; (iv) files or is served with any petition for
relief under the Bankruptcy Code or any similar federal or state statute; (v)
has any judgment entered against it in excess of Fifty Thousand Dollars
($50,000) in any one instance or in the aggregate during any consecutive 12
month period or has any attachment or levy made to or against any of its
property or assets; (vi) defaults with respect to any evidence of indebtedness
or liability for borrowed money, or any such indebtedness shall not be paid as
and when due and payable; or (vii) has assessed or imposed against it, or if
there shall exist, any general or specific lien for any federal, state or local
taxes or charges against any of its property or assets.

     

    (c)           Any
failure by the Company to issue and deliver shares of Common Stock as provided
herein upon conversion of this Note.

     

    6.2.          Remedies.  Each
right, power or remedy of the holder hereof upon the occurrence of any Default
Event as provided for in this Note or now or hereafter existing at law or in
equity or by statute shall be cumulative and concurrent and shall be in addition
to every other right, power or remedy provided for in this Note or now or
hereafter existing at law or in equity or by statute, and the exercise or
beginning of the exercise by the holder or transferee hereof of any one or more
of such rights, powers or remedies shall not preclude the simultaneous or later
exercise by the holder hereof of any or all such other rights, powers or
remedies.

     

    7.           Failure to Act and Waiver. No
failure or delay by the holder hereof to insist upon the strict performance of
any term of this Note or to exercise any right, power or remedy consequent upon
a default hereunder shall constitute a waiver of any such term or of any such
breach, or preclude the holder hereof from exercising any such right, power or
remedy at any later time or 

     

    
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International, Inc. Convertible Note -
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    times. By
accepting payment after the due date of any amount payable under this Note, the
holder hereof shall not be deemed to waive the right either to require payment
when due of all other amounts payable under this Note, or to declare a default
for failure to effect such payment of any such other amount.

     

    The failure of the holder of this Note
to give notice of any failure or breach of the Company under this Note shall not
constitute a waiver of any right or remedy in respect of such continuing failure
or breach or any subsequent failure or breach.

     

    8.           Consent to Jurisdiction. The
Company hereby agrees and consents that any action, suit or proceeding arising
out of this Note may be brought in any appropriate court in the State of
Colorado, including the United States District Court for the District of
Colorado, or in any other court having jurisdiction over the subject matter, all
at the sole election of the holder hereof, and by the issuance and execution of
this Note the Company irrevocably consents to the jurisdiction of each such
court.

     

    9.           Transfer. This Note shall be
transferred on the books of the Company only by the registered holder hereof or
by his/her attorney duly authorized in writing or by delivery to the Company of
a duly executed Assignment substantially in the form attached hereto as Exhibit
A. The Company shall be entitled to treat any holder of record of the Note as
the holder in fact thereof and shall not be bound to recognize any equitable or
other claim to or interest in this Note in the name of any other person, whether
or not it shall have express or other notice thereof, save as expressly provided
by the laws of Colorado.

     

    10.           Notices. All notices and
communications under this Note shall be in writing and shall be either delivered
in person or accompanied by a signed receipt therefor or mailed first-class
United States certified mail, return receipt requested, postage prepaid, and
addressed as follows: if to the Company, to 13949 West Colfax Avenue, Suite 250,
Lakewood, Colorado 80401, and, if to the holder of this Note, to the address of
such holder as it appears in the books of the Company. Any notice of
communication shall be deemed given and received as of the date of such delivery
or mailing.

     

    11.           Governing
Law.  This Note shall be governed by and construed and enforced
in accordance with the laws of the State of Colorado, or, where applicable, the
laws of the United States.

    

    IN WITNESS WHEREOF, the Company has
caused this Note to be duly executed under its corporate seal.

     

    V2K INTERNATIONAL, INC.

    

    

    By:   /s/ Jerry A.
Kukuchka                                 

    

    Name:     Jerry A.
Kukuchka                              

    

    Title:             
CFO                                             

     

     

     

     

     

    
      V2K
International, Inc. Convertible Note -
Page 4 of 5

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
A

     

    ASSIGNMENT

     

    FOR VALUE RECEIVED, the undersigned
hereby assigns to ___________________, the Unsecured Convertible Note of V2K
INTERNATIONAL, INC., No. ________ and hereby irrevocably appoints
__________________________________, Attorney, to transfer said Note on the books
of the within named corporation, with full power of substitution in the
premises.

    

    WITNESS my hand and seal this ____ day
of _______________, 20___.

     

     

    ____________________________

     

    ____________________________

    

    

    

    
 

     

     

     

     

     

    
      V2K
International, Inc. Convertible Note - Page 5 of 5

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