Document:

Unassociated Document

Exhibit
    10.10
    GABRIEL
      TECHNOLOGIES CORPORATION

    

    PROMISSORY
      NOTE

     

    
      	$315,000.00 	
               January
23,
                2007

            

    

     

    FOR
      VALUE
      RECEIVED, the undersigned, Gabriel Technologies Corporation, a Delaware
      corporation (“Company”),
      promises to pay to the order of Wayzatta LLC, a South Dakota limited liability
      company (“Lender”),
      the
      principal sum of Three Hundred Fifteen Thousand Dollars ($315,000.00) (the
      “Principal”),
      together with interest on the unpaid principal balance from time to time
      outstanding at a rate per annum equal to eight percent (8.0%) (the “Interest”).
      Further, the Lender will receive a warrant to purchase One Hundred Fifty Seven
      Thousand Five Hundred (157,500) shares of the Company’s common stock at an
      exercise price of Fifty Cents ($0.50) per share, pursuant to the terms and
      conditions of a Warrant Certificate to be delivered by the Company. All payments
      on this Note shall be due and payable in lawful money of the United States
      of
      America at such place as Lender may from time to time designate at the time
      provided in Section 1 below.

    

    1.    Maturity
      Date and Payments.

    

    (a)    All
      payments on this Note shall be due and payable on the earlier of (i) December
      20, 2007, and (ii) after an Equity Transaction (as defined below) has occurred,
      and subject to Section 1(b) below, within 5 business days after the closing
      date
      of the sale by the Company of its debt or equity securities in one transaction
      or a series of related transactions; provided, however, that any part or all
      of
      the Principal and Interest may be voluntarily prepaid by the Company in whole
      or
      in part at any time without penalty to the Company.

    

    (b)    If
      payments are made pursuant to Section 1(a)(ii) above, Lender will receive its
      Pro Rata (as defined below) portion of any additional net proceeds received
      by
      the Company from such sale of its debt or equity securities.

    

    (c)    For
      purposes of this Note, (i) “Equity
      Transaction”
means
      the sale by the Company of its debt or equity securities in one transaction
      or a
      series of related transactions resulting in net proceeds to the Company of
      at
      least $1,100,000; (ii) “Pro
      Rata”
means
      the percentage equal to (A) the sum of the Principal and the Interest, divided
      by (B) the Debt Balance; and (iii) “Debt
      Balance”
means
      the aggregate sum total of the following indebtedness of the Company: (A)
      payment of the Principal and the Interest due and payable to Lender hereunder;
      (B) payment of principal in the amount of $175,000 plus interest due and payable
      to TLR Consulting LLC, (C) payment of principal in the amount of $180,000 plus
      interest due and payable to Broidy Capital Management, and (D) the payment
      of
      outstanding principal and interest due and payable to Pali Capital.

    

    2.    IP
      Event.
      

    

    (a)    Subject
      to Section 2(b) below, in addition to the other terms of this Note, Lender
      will
      receive the greater of (i) 630,000 (which is the Principal plus an amount equal
      to 100% of the Principal), and (ii) 1% of an IP Event (as defined below) within
      10 business days after the IP Event. For purposes of this Note, an “IP
      Event”
is
      defined as the receipt by the Company or any of its subsidiaries of net proceeds
      (in cash or the fair market value of non-cash consideration) from a licensing,
      sale, transfer, settlement or other transaction with one or more third parties
      relating to intellectual property of the Company or its subsidiaries, or a
      merger, consolidation, share exchange or sale of all or substantially all of
      the
      stock or assets of the Company or any of its subsidiaries.

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

       

    

    (b)    Any
      amounts paid by the Company under this Note shall be deducted from the amounts
      Lender is entitled to receive pursuant to Section 2(a) above.

    

    3.    Use
      of
      Proceeds.
      Subject
      to the written consent of Broidy Capital Management, the Company will use the
      proceeds of this Note for the following purposes: (i) $16,000 shall be used
      to
      pay Lender for its non-accountable out of pocket expenses, (ii) $140,000 shall
      be used to pay the outstanding balance on the American Express credit card
      in
      the name of Jerry Suess being used by the Company for general corporate
      purposes, (iii) $18,663.70 shall be used to pay the Company’s outstanding
      payable to Nebraska Leasing, and (iv) the remaining balance of the proceeds
      shall be used to pay the Company’s other outstanding payables.

    

    4.    Attorney’s
      Fees.
      If the
      indebtedness represented by this Note or any part thereof is collected in
      bankruptcy, receivership or other judicial proceedings or if this Note is placed
      in the hands of attorneys for collection after default, the Company agrees
      to
      pay, in addition to the principal and interest payable hereunder, reasonable
      attorney’s fees and costs incurred by Lender.

    

    5.    Notices.
      Any
      notice, other communication or payment required or permitted hereunder shall
      be
      in writing and shall be deemed to have been given upon delivery.

    

    6.    Waivers.
      The
      Company hereby waives presentment, demand for performance, notice of
      non-performance, protest, notice of protest and notice of dishonor. No delay
      on
      the part of Lender in exercising any right hereunder shall operate as a waiver
      of such right or any other right.

    

    7.    Assignment.
      This
      Note is not transferable by the Company, whether by sale, pledge or other
      disposition, without the prior written consent of Lender which consent may
      be
      withheld in Lender’s sole discretion, except that the Company may transfer this
      Note without such consent in connection with a merger or other similar
      transaction involving the Company.

    

    8.    Governing
      Law.
      This
      Note shall be construed in accordance with the laws of the State of Delaware,
      without regard to the conflicts of laws provisions thereof. Any lawsuit or
      litigation arising under, out of, in connection with, or in relation to this
      Agreement, any amendment thereof, or the breach thereof, shall be brought in
      the
      courts of Omaha, Nebraska, which courts shall have exclusive jurisdiction over
      any such lawsuit or litigation.

    

    IN
      WITNESS WHEREOF, Gabriel Technologies Corporation has caused this Note to be
      executed by its officer thereunto duly authorized.

     

    
      	 	GABRIEL TECHNOLOGIES
              CORPORATION 
	 	 
	 	By:                         
              /s/
              TJ
              O’Brien                                 
               
	 	Printed
              Name:             TJ
              O’Brien                                 
               
	 	Title:                            
              Acting
              COO                               
              

    

     

    2Unassociated Document

Exhibit
    10.11

     

    GABRIEL
      TECHNOLOGIES CORPORATION

    

    PROMISSORY
      NOTE

     

    
      	$175,000.00 	
               January
23,
                2007

            

    

     

    FOR
      VALUE
      RECEIVED, the undersigned, Gabriel Technologies Corporation, a Delaware
      corporation (“Company”),
      promises to pay to the order of TLR Consulting LLC, a South Carolina limited
      liability company (“Lender”),
      the
      principal sum of One Hundred Seventy Five Thousand Dollars ($175,000.00) (the
      “Principal”),
      together with interest on the unpaid principal balance from time to time
      outstanding at a rate per annum equal to eight percent (8.0%) (the “Interest”).
      Further, the Lender will receive a warrant to purchase Eighty Seven Thousand
      Five Hundred (87,500) shares of the Company’s common stock at an exercise price
      of Fifty Cents ($0.50) per share, pursuant to the terms and conditions of a
      Warrant Certificate to be delivered by the Company. All payments on this Note
      shall be due and payable in lawful money of the United States of America at
      such
      place as Lender may from time to time designate at the time provided in Section
      1 below.

    

    1.    Maturity
      Date and Payments.

    

    (a)    All
      payments on this Note shall be due and payable on the earlier of (i) December
      20, 2007, and (ii) after an Equity Transaction (as defined below) has occurred,
      and subject to Section 1(b) below, within 5 business days after the closing
      date
      of the sale by the Company of its debt or equity securities in one transaction
      or a series of related transactions; provided, however, that any part or all
      of
      the Principal and Interest may be voluntarily prepaid by the Company in whole
      or
      in part at any time without penalty to the Company.

    

    (b)    If
      payments are made pursuant to Section 1(a)(ii) above, Lender will receive its
      Pro Rata (as defined below) portion of any additional net proceeds received
      by
      the Company from such sale of its debt or equity securities.

    

    (c)    For
      purposes of this Note, (i) “Equity
      Transaction”
means
      the sale by the Company of its debt or equity securities in one transaction
      or a
      series of related transactions resulting in net proceeds to the Company of
      at
      least $1,100,000; (ii) “Pro
      Rata”
means
      the percentage equal to (A) the sum of the Principal and the Interest, divided
      by (B) the Debt Balance; and (iii) “Debt
      Balance”
means
      the aggregate sum total of the following indebtedness of the Company: (A)
      payment of the Principal and the Interest due and payable to Lender hereunder;
      (B) payment of principal in the amount of $315,000 plus interest due and payable
      to Wayzatta LLC, (C) payment of principal in the amount of $180,000 plus
      interest due and payable to Broidy Capital Management, and (D) the payment
      of
      outstanding principal and interest due and payable to Pali Capital.

    

    2.    IP
      Event.
      

    

    (a)    Subject
      to Section 2(b) below, in addition to the other terms of this Note, Lender
      will
      receive the greater of (i) 350,000 (which is the Principal plus an amount equal
      to 100% of the Principal), and (ii) 0.5% of an IP Event (as defined below)
      within 10 business days after the IP Event. For purposes of this Note, an
“IP
      Event”
is
      defined as the receipt by the Company or any of its subsidiaries of net proceeds
      (in cash or the fair market value of non-cash consideration) from a licensing,
      sale, transfer, settlement or other transaction with one or more third parties
      relating to intellectual property of the Company or its subsidiaries, or a
      merger, consolidation, share exchange or sale of all or substantially all of
      the
      stock or assets of the Company or any of its subsidiaries.

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    (b)    Any
      amounts paid by the Company under this Note shall be deducted from the amounts
      Lender is entitled to receive pursuant to Section 2(a) above.

    

    3.    Use
      of
      Proceeds.
      Subject
      to the written consent of Broidy Capital Management, the Company will use the
      proceeds of this Note for the following purposes: (i) $9,000 shall be used
      to
      pay Lender for its non-accountable out of pocket expenses, and (ii) the
      remaining balance of the proceeds shall be used to pay the Company’s other
      outstanding payables.

    

    4.    Attorney’s
      Fees.
      If the
      indebtedness represented by this Note or any part thereof is collected in
      bankruptcy, receivership or other judicial proceedings or if this Note is placed
      in the hands of attorneys for collection after default, the Company agrees
      to
      pay, in addition to the principal and interest payable hereunder, reasonable
      attorney’s fees and costs incurred by Lender.

    

    5.    Notices.
      Any
      notice, other communication or payment required or permitted hereunder shall
      be
      in writing and shall be deemed to have been given upon delivery.

    

    6.    Waivers.
      The
      Company hereby waives presentment, demand for performance, notice of
      non-performance, protest, notice of protest and notice of dishonor. No delay
      on
      the part of Lender in exercising any right hereunder shall operate as a waiver
      of such right or any other right.

    

    7.    Assignment.
      This
      Note is not transferable by the Company, whether by sale, pledge or other
      disposition, without the prior written consent of Lender which consent may
      be
      withheld in Lender’s sole discretion, except that the Company may transfer this
      Note without such consent in connection with a merger or other similar
      transaction involving the Company.

    

    8.    Governing
      Law.
      This
      Note shall be construed in accordance with the laws of the State of Delaware,
      without regard to the conflicts of laws provisions thereof. Any lawsuit or
      litigation arising under, out of, in connection with, or in relation to this
      Agreement, any amendment thereof, or the breach thereof, shall be brought in
      the
      courts of Omaha, Nebraska, which courts shall have exclusive jurisdiction over
      any such lawsuit or litigation.

     

    IN
      WITNESS WHEREOF, Gabriel Technologies Corporation has caused this Note to be
      executed by its officer thereunto duly authorized.

     

    
      
        	 	GABRIEL TECHNOLOGIES
                CORPORATION 
	 	 
	 	By:                         
                /s/
                TJ
                O’Brien                                 
                 
	 	Printed
                Name:             TJ
                O’Brien                                 
                 
	 	Title:                            
                Acting
                COO                               
                

      

       

      2

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