Document:

Amendment No. 1 to Amended and Restated Subordination Agreement

 EXHIBIT 10.10 
  
 AMENDMENT NO. 1 TO 
 AMENDED AND RESTATED SUBORDINATION AGREEMENT 
  
 AMENDMENT NO. 1 TO AMENDED AND RESTATED SUBORDINATION AGREEMENT (this “Amendment”), dated as of April 29, 2005, among FLEET RETAIL GROUP, INC., a Delaware corporation having its office at 40
Broad Street, Boston, Massachusetts 02109, in its capacity as agent (the “Agent”) for the Lenders (as hereinafter defined), S.A.C. CAPITAL ASSOCIATES, LLC (“SAC”), GMM CAPITAL, LLC (“GMM”), GOLDFARB
CAPITAL PARTNERS LLC (“Goldfarb”), Charles Phillips, individually (“Phillips”), Eli Wachtel, individually (“Wachtel”) WLSS CAPITAL PARTNERS, LLC (“WLSS”), SMITHFIELD FIDUCIARY, LLC
(“Smithfield”), D.B. ZWIRN SPECIAL OPPORTUNITIES FUND, L.P. (“Zwirn LP”), D.B. ZWIRN SPECIAL OPPORTUNITIES FUND, LTD (“Zwirn Ltd”), RIVERVIEW GROUP, LLC (“Riverview” and,
collectively with SAC, GMM, Goldfarb, Phillips, Wachtel, WLSS, Smithfield, Zwirn LP and Zwirn Ltd, the “Buyers”), THE BANK OF NEW YORK, in its capacity as trustee (the “Trustee”) and as collateral agent (the
“Collateral Agent”) under the Indenture (as defined in the Amended and Restated Subordination Agreement referred to below), for each of the Holders (collectively with the Buyers, the Trustee and the Holders, the
“Subordinating Creditors”) and THE WET SEAL, INC., a Delaware corporation having its office at 26972 Burbank, Foothill Ranch, California 92610 (the “Borrower”). Capitalized terms used but not defined herein shall
have the meanings ascribed to such terms as in the Amended and Restated Subordination Agreement referred to below. 
  
 WHEREAS, pursuant to an Amended and Restated Credit Agreement dated as of September 22, 2004 (as amended and in effect from time to time, including
any replacement agreement therefor, the “Credit Agreement”), among the financial institutions party thereto (the “Lenders”), the Agent, the Borrower, The Wet Seal Retail, Inc. (“Wet Seal Retail”),
Wet Seal Catalog, Inc. (“Wet Seal Catalog”), and Wet Seal GC, Inc. (the “Facility Guarantor” and, collectively with the Borrower, Wet Seal Retail and Wet Seal Catalog, the “Companies” and, each
individually, a “Company”), the Lenders have agreed, upon the terms and subject to the conditions contained therein, to make loans and otherwise to extend credit to the Companies; and 
  
 WHEREAS, the Borrower and the Buyers entered into that certain Amended
and Restated Securities Purchase Agreement, dated as of December 13, 2004 (as amended and in effect from time to time, the “Amended Securities Purchase Agreement”), to purchase such securities and certain warrants of the Borrower;
and 
  
 WHEREAS, the Borrower and the Subordinating
Creditors entered into that certain Amended and Restated Subordination Agreement, dated as of January 14, 2005 (as amended and in effect from time to time, the “Amended and Restated Subordination Agreement”); and 
  
 WHEREAS, concurrently with the execution of this Amendment, the
Borrower and certain of the Subordinating Creditors are entering into a Securities Purchase Agreement (the “2005 Securities Purchase Agreement”), pursuant to which, among other things, the Borrower has authorized (i) a new series of
convertible preferred stock of the Borrower, which preferred stock shall be convertible into shares of Class A Common Stock in accordance with the terms of the Certificate of Designations, Preferences and Rights attached thereto as an exhibit, and
(ii) a new series of warrants to acquire Class A Common Stock of the Borrower in accordance with the terms therein; and 

 WHEREAS, in connection with the foregoing, the Borrower, the Trustee (for itself and on behalf of
the Holders), the Collateral Agent (for itself and on behalf of the Holders), each Subordinating Creditor and the Agent, subject to the terms and conditions provided herein, have agreed to amend the Amended and Restated Subordination Agreement;

  
 NOW, THEREFORE, in consideration of the foregoing, the
mutual agreements herein contained and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
  
 1. Amendment to Section 1 of the Amended and Restated Subordination
Agreement. 
  
 (a) Section 1 of the Amended and Restated
Subordination Agreement is hereby amended by deleting the parenthetical “(other than the Warrants, Warrant Agreements and Registration Rights Agreement)” in the third line of the definition “Subordinated Documents”. 

 
 (b) Section 1 of the Amended and Restated Subordination Agreement is
hereby further amended by (i) deleting the phrase “Subordinated Agreement” in the definition of “Subordinated Debt” and substituting in lieu thereof the phrase “Subordinated Documents” and (ii) inserting the
parenthetical “(other than the Conversion Shares and the Warrant Shares, each as defined in the Amended Securities Purchase Agreement)” after the word “instruments” in the fourth line thereof. 
  
 (c) Section 1 of the Amended and Restated Subordination Agreement is hereby
further amended by deleting the reference “Section 2(f)” in the definition of Subordinated Debt Fees” and substituting in lieu thereof the reference “Section 2(g)”. 
  
 2. Amendment to Section 9 of the Amended and Restated Subordination
Agreement. Section 9 of the Amended and Restated Subordiantion Agreement is hereby amended by deleting such Section in its entirety and substitituting in lieu thereof the following: 
  
 “9. Modification or Sale of the Subordinated
Debt. Neither the Collateral Agent nor any Subordinating Creditor will, at any time while this Agreement is in effect, modify any of the terms of any of the Subordinated Debt or any of the Subordinated Documents with respect to the
Subordinated Debt; nor will any Subordinating Creditor sell, transfer, pledge, assign, hypothecate or otherwise dispose of any or all of the Subordinated Debt (other than the Subordinated Debt evidenced by the “Notes” issued under the
Indenture) to any person other than a person who agrees in a writing, reasonably satisfactory in form and substance to the Agent, to become a party hereto and to succeed to the rights and to be bound by all of the obligations of such Subordinating
Creditor hereunder; provided, however any sale, transfer, pledge, assignment, hypothecation or other disposal of the “Notes” issued under the Indenture shall remain at all times subject to Section 3.02 of the Indenture
(“Ranking; Subordination”).” 
  

 -2- 

 3. Amendment to Section 18 of the Amended and Restated Subordination Agreement. 

 
 (a) Section 18 of the Amended and Restated Subordination Agreement is
hereby amended by deleting the phrase “requisite Lenders” in the sixth line thereof and substituting in lieu thereof the phrase “Required Lenders (as defined in the Credit Agreement) and the Term Lender (as defined in the Credit
Agreement)”. 
  
 (b) Section 18 of the Amended and Restated
Subordination Agreement is hereby further amended by adding the following two new sentences immediately after the third sentence thereof: 
  
 “The provisions of this Agreement may from time to time be amended if such amendment is in writing and consented to by the Trustee,
the Collateral Agent, the Borrower, the holders of a majority in interest of the Subordinated Debt as of the date of such amendment and the Agent; provided, however, any amendment consented to by the holders of a majority in interest
of the Subordinated Debt shall be binding upon all Subordinating Creditors, whether or not such Subordinating Creditor consented thereto in such writing. No failure or delay on the part of any Person in exercising any power or right under this
Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other power or right.” 
  
 4. Conditions Precedent. This Amendment shall
become effective upon the receipt by the Agent and the Trustee of a duly executed and delivered counterpart signature page to this Amendment by the Agent, the Trustee, the Collateral Agent, each Subordinating Creditor and the Borrower. 

 
 5. Governing Law. 
  
 THIS AMENDMENT SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH
THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS AND SHALL BE A SEALED INSTRUMENT UNDER SUCH LAWS. 
  
 6. Waiver of Jury Trial. 
  
 EACH OF THE PARTIES HERETO HEREBY WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH
THIS AMENDMENT, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS AND OBLIGATIONS. EXCEPT AS PROHIBITED BY LAW, EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT WHICH IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION REFERRED
TO IN THE PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. EACH OF THE PARTIES HERETO HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE
AGENT OR ANY LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE AGENT OR ANY LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (B) ACKNOWLEDGES THAT THE AGENT HAS BEEN INDUCED TO ENTER INTO THIS AMENDMENT
BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS CONTAINED HEREIN. 
  
 7. Miscellaneous. 
  
 This Amendment may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered shall be an original, and all of which together shall constitute one instrument. In proving
this Amendment, it 
  

 -3- 

 shall not be necessary to produce or account for more than one such counterpart signed by the party against which
enforcement is sought. This Amendment shall be binding upon each Subordinating Creditor, the Trustee, the Collateral Agent, the Agent, the Borrower and their respective successors and assigns and shall inure to the benefit of the Agent and the
Lenders, the Agent’s and the Lenders’ respective successors and assigns, any lender or lenders refunding or refinancing any of the Senior Debt and their respective successors and assigns, but shall not otherwise create any rights or
benefits for any third party. Except as expressly provided in this Amendment, all of the terms and conditions of the Amended and Restated Subordination Agreement remain in full force and effect. The parties hereto agree that the Amended and Restated
Subordination Agreement are, except as expressly modified in this Amendment upon the terms set forth herein, ratified and confirmed in all respects. 
  
 [Remainder of page intentionally left blank] 
  

 -4- 

			
	THE WET SEAL, INC., as Borrower
		
	By:	 	 /s/ Douglas C. Felderman

	Name:	 	Douglas C. Felderman
	Title:	 	EVP + CFO

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	 COMMONWEALTH OR STATE OF California
	    	)
	 	    	) ss.
	COUNTY OF Orange	    	)

  
 On this 15th day of April, 2005, before me, the undersigned notary public, personally appeared Douglas C. Felderman, personally
known to me, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that (he) signed it voluntarily for its stated purpose. 
  

									
					
	 	 	 	 	 	 	 	 	/s/ Courtney Wilkin
	 	 	 	 	 	 	 	(official signature and seal of notary)
	 	 	 	 	 	 	 	 
	 	 	 	 	[SEAL]	 	 	 	 COURTNEY L. WILKIN
 Commission #1420715
 Notary Public – California
 Orange County
 My Comm. expires: May 27, 2007

  
 Amendment No. 1 to
Amended and Restated Subordination Agreement 

			
	 THE BANK OF NEW YORK, as Trustee
 for
each of the Holders

		
	By:	 	/s/ Geovanni Barris
	Name:	 	Geovanni Barris
	Title:	 	Vice President
	
	THE BANK OF NEW YORK, as Collateral Agent for each of the Holders
		
	By:	 	/s/ Geovanni Barris
	Name:	 	Geovanni Barris
	Title:	 	Vice President

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF NEW YORK	  	)
	 	  	)  ss.
	COUNTY OF NEW YORK	  	)

  
 On this 28th day of April, 2005, before me, the undersigned notary public, personally appeared Geovanni Barris, proved to me through
satisfactory evidence of identification, which were a driver’s license, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as Vice
President for The Bank of New York, a New York Corporation). 
  

			
	 	 	 /s/ William J. Cassels

	 	 	(official signature and seal of notary)
	 	 	 
	 	 	 My commission expires:
  

	 	 	 
	 	 	WILLIAM J. CASSELS
	 	 	Notary Public, State of New York
	 	 	No. 01CA5027729
	 	 	Qualified in Bronx County
	 	 	Commission Expires May 18, 2006

  
 Amendment No. 1 to
Amended and Restated Subordination Agreement 
  
  

			
	The Buyers:
	
	 S.A.C. CAPITAL ASSOCIATES, LLC
 By:
S.A.C. Capital Advisors, LLC

		
	By:	 	/s/ Peter Nussbaum
	Name: Peter Nussbaum
	Title:   General Counsel

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF CT	 	)
	 	 	)  ss.
	COUNTY OF FAIRFIELD	 	)

  
 On this 28 day of
April, 2005, before me, the undersigned notary public, personally appeared Peter Nussbaum, proved to me through satisfactory evidence of identification, which were my personal knowledge, to be the person whose name is signed on the preceding or
attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as
                                         for
                                         , a
                                        ).

  

			
	 JANE A. CORCORAN
 NOTARY PUBLIC
 MY COMMISSION EXPIRES MAY 31, 2007
	 	 /s/ Jane A. Corcoran

	 	(official signature and seal of notary)
	 	 
	 	 	My commission expires: 5-31-07

  
 Amendment No. 1 to
Amended and Restated Subordination Agreement 
  
  

			
	GMM CAPITAL, LLC
		
	By:	 	 /s/ Isaac Dabah

	Name:	 	Isaac Dabah
	Title:	 	Director

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

			
	GOLDFARB CAPITAL PARTNERS LLC
		
	By:	 	 /s/ Morris Goldfarb

	Name:	 	Morris Goldfarb
	Title:	 	Member

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	 COMMONWEALTH OR STATE OF New York
	    	)
	 	    	) ss.
	COUNTY OF New York	    	)

  
  
  
 On this 27th day of April, 2005, before me, the undersigned notary public, personally appeared Morris Goldfarb, proved to me through satisfactory evidence of
identification, which were NY driver’s license, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as member for
Goldfarb Capital Partners LLC, a Delaware LLC). 
  

	
	 /s/ Kathleen Schatz

	(official signature and seal of notary)
	
	My commission expires: 1/7/06
	
	 KATHLEEN SCHATZ 
 Notary Public, State of New York
 No. 01SC6068634
 Qualified in New York County
 Commission Expires January 07, 2006

  
 Amendment No. 1
to Amended and Restated Subordination Agreement 

			
	/s/ Mr. Charles Phillips
	Mr. Charles Phillips

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF NEW YORK	    	)
	 	    	) ss.
	COUNTY OF NEW YORK	    	)

  
  
  
 On this 28 day of April, 2005, before me, the undersigned notary public, personally appeared Charles Phillips, proved to me through satisfactory evidence of
identification, which were NY drivers license, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as
                             for
                        , a
                                ). 
  

	
	 /s/ Todd A. Matras

	(official signature and seal of notary)
	
	My commission expires: 1/7/06
	
	TODD A. MATRAS
	Notary Public, State of New York
	No. 02MA6054805
	Qualified in Kings County
	Certificate Filed in New York County
	Commission Expires Feb. 12, 2007

  
 Amendment No. 1
to Amended and Restated Subordination Agreement 

	
	 /s/ Eli Wachtel

	Mr. Eli Wachtel

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF New York	    	)
	 	    	) ss.
	COUNTY OF New York	    	)

  
 On this 26th day of April, 2005, before me, the undersigned notary public, personally appeared Eli Wachtel, proved to me through
satisfactory evidence of identification, which were US Passport, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as
             for             , a             ).

  

	
	 /s/ Janice C. Abrahamson

	(official signature and seal of notary)
	
	My commission expires: 11/30/2006
	
	 JANICE C. ABRAHAMSON
 Notary Public State of New York
 No 31-4731673
 Qualified in New York County
 Commission Expires Nov. 30, 2006

  
 Amendment No. 1
to Amended and Restated Subordination Agreement 

			
	WLSS CAPITAL PARTNERS, LLC
		
	By:	 	 /s/ Wayne S. Miller

	Name:	 	Wayne S. Miller
	Title:	 	Member

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF New York	    	)
	 	    	) ss.
	COUNTY OF New York	    	)

  
  
  
 On this 27th day of April, 2005, before me, the undersigned notary public, personally appeared Wayne S. Miller, proved to me through satisfactory evidence of
identification, which were NY Driver’s License, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as member for WLSS
Capital Partners, LLC, a Delaware LLC). 
  

	
	 /s/ Kathleen Schatz

	(official signature and seal of notary)
	
	My commission expires: 1/7/06
	
	 KATHLEEN SCHATZ
 Notary Public, State of New York
 No. 01SC6068634
 Qualified in New York County
 Commission Expires January 07, 2006

  
 Amendment No. 1
to Amended and Restated Subordination Agreement 

			
	SMITHFIELD FIDUCIARY, LLC
		
	By:	 	/s/ Scott M. Wallace
	Name: Scott M. Wallace
	Title:   Authorized Signatory

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF NEW YORK	  	)
	 	  	)  ss.
	COUNTY OF QUEENS	  	)

  
 On this 28th day of April, 2005, before me, the undersigned notary public, personally appeared Scott M. Wallace, proved to me through
satisfactory evidence of identification, which were known to me, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as
                     for
                        , a
                        ). 
  

			
	 	 	 /s/ Zainub Rana

	 	 	(official signature and seal of notary)
	 	 	 
	 	 	 My commission expires:
  

	 	 	 
	 	 	ZAINUB RANA
	 	 	Notary Public - State of New York
	 	 	No. 01RA6054878
	 	 	Qualified in Queens County
	 	 	My Commission Expires July 15, 2007

  
 Amendment No. 1 to
Amended and Restated Subordination Agreement 
  
  

			
	 D.B. ZWIRN SPECIAL OPPORTUNITIES
 FUND, L.P.

	
	 By: D.B. ZWIRN PARTNERS LLC, its general
 partner

		
	By:	 	 /s/ Daniel B. Zwirn

	Name:	 	Daniel B. Zwirn 
	Title:	 	Managing Member
	
	 D.B. ZWIRN SPECIAL OPPORTUNITIES
 FUND, LTD.

	
	By: D.B. ZWIRN & CO., L.P., its trading Manager
		
	By:	 	 /s/ Daniel B. Zwirn

	Name:	 	Daniel B. Zwirn 
	Title:	 	Managing Member

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF New York	    	)
	 	    	) ss.
	COUNTY OF New York	    	)

  
  
  
 On this 29th day of April, 2005, before me, the undersigned notary public, personally appeared Daniel B. Zwirn, proved to me through satisfactory evidence of
identification, which were
                                    , to be the person whose
name is signed on the preceding or attached document, and acknowledged to me that (he)(she) signed it voluntarily for its stated purpose (as managing member for DBZ & Co., a
                                    ). 
  

	
	 /s/ Michele R. Pirozzi

	(official signature and seal of notary)
	
	My commission expires: 6/28/08
	
	 MICHELE R. PIROZZI
 NOTARY PUBLIC, STATE OF NEW YORK
 No. 01PI6112028
 QUALIFIED IN QUEENS COUNTY
 MY COMMISSION EXPIRES JUNE 28, 2008

  
 Amendment No. 1
to Amended and Restated Subordination Agreement 

			
	RIVERVIEW GROUP, LLC
	By: Millennium Holding Group, L.P.,
	By: Millennium Management, L.L.C.
		
	By:	 	 /s/ Dave Nolan

	Name:	 	Dave Nolan
	Title:	 	Executive Vice President

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination Agreement 

 CERTIFICATE OF ACKNOWLEDGMENT 
  

			
	COMMONWEALTH OR STATE OF NEW YORK	    	)
	 	    	) ss.
	COUNTY OF NEW YORK	    	)

  
 On this 28th day of April, 2005, before me, the undersigned notary public, personally appeared Dave Nolan, personally known to me, to be
the person whose name is signed on the preceding or attached document, and acknowledged to me that he signed it voluntarily for its stated purpose (as Executive Vice President of Millennium Management, L.L.C., the general partner of Millennium
Holding Group, L.P., the managing member of Riverview Group, LLC, a Delaware limited liability company). 
  

	
	 /s/ Danielle Scotto

	(official signature and seal of notary)
	
	My commission expires: 11/29/08
	
	Danielle Scotto
	Notary Public, State of New York
	No. 01SC6119482
	Qualified in Kings County
	Commission Expires Nov 29, 2008

  
 Amendment No. 1
to Amended and Restated Subordination Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above
written. 
  

			
	FLEET RETAIL GROUP, INC., as Agent
		
	By:	 	/s/ Daniel Platt
	 	 	Name: Daniel Platt
	 	 	Title:   Director

  
 Signature Page to
Amendment No. 1 to Amended and Restated Subordination AgreementGrid Promissory Note

 Exhibit 4.10.2 
  
 GRID PROMISSORY NOTE 
  

	 $300,000.00 
	 April 7, 2005 

 Golden, Colorado

  
 For value received, receipt and sufficiency of which is acknowledged, Sound Surgical
Technologies LLC, a limited liability company organized and existing under the laws of the state of Colorado, and having its executive office at 13952 Denver West Parkway, Suite 150, Golden, Colorado 80401 (“Borrower”) promises to pay to
Christopher T. Payne (“Lender”) on or before June 30, 2005 at 634 Humphrey Drive, Evergreen, CO 80439 the principal sum of Three Hundred Thousand United States Dollars ($300,000.00) or, if less, the principal amount shown to be due on the
attached schedule, together with interest on the unpaid principal balance from time to time at the rate of forty two percent (42%) per year from the date of borrowing of such principal amount until paid in full. Borrower authorizes and appoints
Christopher T. Payne as agent of Borrower to enter each borrowing and repayment of principal under this Note on the schedule attached to and hereby incorporated in this Note and agrees that such entries shall be conclusive evidence of the principal
balance due under this Note at any time, absent manifest error. Borrowing under this Note shall be in amounts of not less than One Hundred Thousand Dollars ($100,000.00). 
  
 Borrower may repay the principal amount outstanding under this Note in whole or in part at any time without penalty. 
  
 Borrower represents and warrants that the proceeds of this borrowing will be used solely for business
purposes and not for any personal or consumer purpose. 
  
 If this Note is placed in the
hands of an attorney for collection, or is collected in whole or in part by suit or through bankruptcy or other legal proceedings of any kind, Borrower agrees to pay, in addition to all principal and interest payable under this Note, all costs and
expenses of collection, including but not limited to reasonable attorneys’ fees. 
  
 Borrower and any and all endorsers of this Note severally waive presentment for payment, notice of nonpayment, demand, notice of demand, protest, notice of protest, notice of dishonor, diligence in enforcement and notice of indulgences of
every kind and without further notice hereby agree to renewals, extensions, indulgences or partial payments, either before or after demand for payment. 
  
 This note has been executed under, and shall be construed and enforced in accordance with, the laws of the state of Colorado, except as such laws are preempted by applicable
federal laws of the United States of America. 
  
 The undersigned represent that they are
Managers of Borrower, and that they have full power and authority to execute and deliver this Note on behalf of Borrower, and that when so executed and delivered, it will constitute the valid and binding obligation of 

 Borrower, enforceable against Borrower in accordance with its terms, subject to applicable laws dealing with insolvency and
bankruptcy and to laws affecting creditors rights generally. 
  
 Executed and delivered this
7th day of April 2005 at Golden, Colorado. 
  
 SOUND SURGICAL TECHNOLOGIES LLC 
  
  

			
	 /s/    Douglas D. Foote            

	  	 /s/    Donald B. Wingerter            

	By: Douglas D. Foote	  	By: Donald B. Wingerter

  
  
  
 SCHEDULE TO GRID PROMISSORY NOTE 
 SOUND SURGICAL TECHNOLOGIES LLC to 
 CHRISTOPHER T. PAYNE

  

			
	Dated April 7, 2005	  	$300,000.00

  

									
	DATE	 	 AMOUNT
 BORROWED
	 	 AMOUNT
 REPAID
	 	 PRINCIPAL
BALANCE DUE
	 	INITIALS

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