Document:

exv10w1

Exhibit 10.1

     Promissory Term Note

	 	 	 

	Amount up to $2,500,000

	 	Date: February 4, 2011

FOR VALUE RECEIVED, the undersigned, T3 Motion, Inc., a Delaware Corporation (Borrower),
maintaining an address at 2990 Airway Ave., Bldg A, Costa Mesa, CA 92626 (Borrower’s Address)
promises to pay to the order of Ki Y. Nam (Lender), whose address is 78 Linda Isle, Newport Beach,
CA (Lender’s Address), the principal sum of up to $2,500,000 (Principal), together with interest
of 10.0% (Interest Rate) per year thereon from the date herein. The principal amount under this
Note may be increased upon mutual agreement of the parties. The outstanding amount of principal
shall be set forth on Schedule A and shall be adjusted from time to time to reflect additional
loans from Lender and repayments of such loans. Changes to Schedule A shall be made by the
Borrower and updated copies of Schedule A shall be provided to Lender upon request.

Accrued interest shall be payable at maturity. The entire Principal together with any accrued but
unpaid interest shall be fully paid on or before March 31, 2012. The Borrower has the option for
an automatic one-year extension to March 31, 2013.

All or any part of the Principal may be prepaid at any time and from time to time without penalty.
Payments shall be applied first to accrued interest and the balance to the Principal.

Borrower and all other persons who may become liable for the payment hereof severally waive demand,
presentment, protest, notice of dishonor or nonpayment, notice of protest, and any and all lack of
diligence or delays in collection, which may occur.

All payments hereunder shall be made to such address as may from time to time be designated by any
holder and must be made in United States funds.

Borrower and all other parties to this note, whether as endorsers, guarantors or sureties, agree to
remain fully bound until this note shall be paid in full and waive demand, presentment and protest
and all notices hereto. Borrower further agrees to remain bound by this note notwithstanding any
extension, modification, waiver, or other indulgence, failure, discharge or release of any
obligation hereunder.

The holder’s failure to exercise any right or option hereunder does not constitute a waiver of any
future right or option.

No modification to this document or indulgence by any holder hereof shall be binding unless in
writing.

If any provision of this Note is deemed unenforceable, in whole or in part, for any reason, the
remaining provisions shall still remain in full force and effect.

This note shall take effect as a sealed instrument and is made and executed under, and is in all
respects governed by, the laws of: the State of California.

	 	 	 	 	 

	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	(Signature of Borrower)

	 	(Signature of Lender)
	 	 
	Kelly J. Anderson, Chief Financial Officer

	 	Ki Y. Nam	 	 
	T3 Motion, Inc.
	 	 	 	 

 

 

Schedule A

Loan Balance Ledger

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Outstanding Principal
	Date	 	Loan	 	Repayment	 	Balance (as of such date)
	06/22/10
	 	$	50,000	 	 	 	 	 	 	$	50,000	 
	07/06/10
	 	$	100,000	 	 	 	 	 	 	$	150,000	 
	07/07/10
	 	$	50,000	 	 	 	 	 	 	$	200,000	 
	07/22/10
	 	$	100,000	 	 	 	 	 	 	$	300,000	 
	08/03/10
	 	$	50,000	 	 	 	 	 	 	$	350,000	 
	08/06/10
	 	$	140,000	 	 	 	 	 	 	$	490,000	 
	08/25/10
	 	$	20,000	 	 	 	 	 	 	$	510,000	 
	09/07/10
	 	$	100,000	 	 	 	 	 	 	$	610,000	 
	10/06/10
	 	 	 	 	 	$	390,000	 	 	$	220,000	 
	10/29/10
	 	$	200,000	 	 	 	 	 	 	$	420,000	 
	11/18/10
	 	$	40,000	 	 	 	 	 	 	$	460,000	 
	11/30/10
	 	$	41,000	 	 	 	 	 	 	$	501,000	 
	12/03/10
	 	$	150,000	 	 	 	 	 	 	$	651,000	 
	12/09/10
	 	$	150,000	 	 	 	 	 	 	$	801,000	 
	12/16/10
	 	$	250,000	 	 	 	 	 	 	$	1,051,000	 
	12/22/10
	 	$	50,000	 	 	 	 	 	 	$	1,101,000	 
	12/28/10
	 	$	20,000	 	 	 	 	 	 	$	1,121,000	 
	January 7, 2011
	 	$	75,000	 	 	 	 	 	 	$	1,196,000	 
	January 25, 2011
	 	$	50,000	 	 	 	 	 	 	$	1,246,000	 
	February 9, 2011
	 	$	45,000	 	 	 	 	 	 	$	1,291,000Exhibit 10.34

Exhibit 10.34

ENERGY SERVICES AGREEMENT AMENDMENT NO. 3

This Amendment No. 3 is entered into as of February 10, 2009 (the “Effective Date”) by and
between Trigen-Las Vegas Energy Company, LLC (“Trigen”), Venetian Casino Resort, LLC (“VCR”),
Grand Canal Shops II, LLC (“GCS”) and Interface Group-Nevada, Inc. (“Interface”). Each of Trigen,
VCR, GCS and Interface may be referred to herein individually as a “Party” and collectively be
referred to herein as the “Parties”.

W I T N E S S E T H:

WHEREAS, Trigen notified the Delaware Secretary of State on July 21, 2006, that it had changed its
name from Atlantic-Pacific Las Vegas, LLC to Trigen-Las Vegas Energy Company, LLC;

WHEREAS, VCR and Trigen entered into that certain Energy Services Agreement dated May 1, 1997 (the
“ESA”), as amended by that certain Energy Services Agreement Amendment No. 1 dated as of July 1,
1999 (the “First Amendment”), as further amended by that certain Settlement Agreement dated April
25, 2005 (the “Settlement Agreement”), as further amended by that certain Energy Service Agreement
Amendment No. 2 dated as of July 1, 2006 (the “Second Amendment”) and as clarified by that certain
letter agreement dated June 11, 2008 that the Service Commencement Date under the Amended ESA was
July 1, 1999 (the “June 11, 2008 Agreement” and together with the ESA, the First Amendment, the
Settlement Agreement, and the Second Amendment: the “Amended ESA”);

WHEREAS, VCR and Trigen entered into that certain letter agreement dated December 24, 2008 to
extend the time for taking action pursuant to Section 2.5(a) of the Amended ESA until January 15,
2009 (the “First Extension”);

WHEREAS, VCR and Trigen entered into that certain letter agreement dated January 13, 2009 further
extending the time to take action pursuant to Section 2.5(a) of the Amended ESA until February 10,
2009 (the “Second Extension”);

WHEREAS, VCR and Trigen entered into that certain letter agreement dated February 10, 2009,
amending the Amended ESA (the “February 10, 2009 Agreement”);

WHEREAS, the February 10, 2009 Agreement contemplated entry into a conforming amendment to the
Amended ESA incorporating the terms of the February 10, 2009 Agreement and making such further
amendments to the Amended ESA as are consistent with the February 10, 2009 Agreement and as are
reasonably required to further amend the Amended ESA consistent with the intent of the February 10,
2009 Agreement;

 

 

 

WHEREAS, the February 10, 2009 Agreement is incorporated into this Third Amendment as though fully
set forth at length and a true and correct copy of the February 10, 2009 Agreement is attached
hereto as Exhibit A and made a part hereof;

WHEREAS, in the event of any inconsistency between the terms of the February 10, 2009 Agreement and
the terms of this Third Amendment, the terms of this Third Amendment shall control to the extent of
any such inconsistency;

WHEREAS, Trigen and Grand Canal Shops Mall, LLC entered into that certain Energy Services
Agreement dated as of May 1, 1997, as amended by that certain Energy Services Agreement
Amendment No. 1 dated as of July 1, 1999 (the “Grand Canal Shoppes ESA”);

WHEREAS, as a result of certain mergers and reorganizations, Grand Canal Shops II, LLC is
the successor in interest to Grand Canal Shops Mall, LLC under the Grand Canal Shoppes ESA;
WHEREAS, Trigen and Interface Group-Nevada, Inc. entered into that certain Energy Services
Agreement dated as of May 1, 1997, as amended by that certain Energy Services Agreement
Amendment No. 1 dated as of July 1, 1999 (the “Interface ESA” and together with the Grand
Canal Shoppes ESA and the Amended ESA, the “Amended ESA’s”));

WHEREAS, Trigen and VCR agreed in the First Extension, the Second Extension, and in the
February 10, 2009 Agreement, that the First Extension, the Second Extension and the February
10, 2009 Agreement applied equally to the Grand Canal Shoppes ESA and to the Interface ESA;

WHEREAS, GCS and Interface agreed that the First Extension and the Second Extension applied equally
to the Grand Canal Shoppes ESA and to the Interface ESA;

WHEREAS, Trigen and VCR agree that the June 11, 2008 Agreement applies equally to the Grand Canal
Shoppes ESA and to the Interface ESA;

WHEREAS, GCS and Interface desire to express their agreement that the June 11, 2008 Agreement and
the February 10, 2009 Agreement apply equally to the Grand Canal Shoppes ESA and to the Interface
ESA;

 

2

 

WHEREAS, under the terms of the Amended ESA, the Grand Canal Shoppes ESA and the Interface ESA
(collectively referred to herein as the “ESAs”), Trigen is required to supply all the thermal
energy requirements necessary for the integrated resort complex that is subject to the REA (as
defined below) subject to the capacity of the Central Plant, which was increased as a result of the
expansion resolved in the Settlement Agreement and the expansion the subject of the Second
Amendment;

WHEREAS, GCS and Interface agree that the terms of this Third Amendment apply equally to the
corresponding provisions of the Grand Canal Shoppes ESA and to the Interface ESA, respectively; and
WHEREAS, any defined terms set forth herein that are not otherwise defined shall have the meanings
set forth in the Amended ESA, the Grand Canal Shoppes ESA, and in the Interface ESA and any
reference to a Section, unless otherwise stated to the contrary, shall be a reference to the
Amended ESA and to the corresponding provisions of the Grand Canal Shoppes ESA and to the Interface
ESA.

NOW THEREFORE, in consideration of the premises and mutual covenants, conditions and agreements
set forth herein and for such other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, VCR, Trigen, GCS and Interface each intending to be legally
bound, do hereby agree to further amend the Amended ESAs, as follows:

	 	1.	 	The recitals set forth above are part of this Third Amendment.

	 	2.	 	Section 2.3 of the ESAs, defining the Service Commencement Date, is amended
as set forth in the above recitals to define such term to mean July 1, 1999.

 

3

 

	 	3.	 	Section 2.5 is modified as follows: (a) the Parties have agreed upon a single
Renewal Term with a period of ten (10) years commencing July 1, 2009, (b) the Purchase
Option Payment at the expiration of the Renewal Term is fixed at $13,064,000 and shall
be allocated among VCR, GCS and Interface in proportion to their respective Divided
Shares, (c) the monthly aggregate Capacity Payment under all of the ESAs for the first
year of the Renewal Term is fixed at $371,250 and the monthly aggregate Capacity
Payment under all of the ESAs shall be reduced by $17,500 on every anniversary of the
Effective Date beginning with the first such anniversary, with the monthly Capacity
Payment being allocated among VCR, GCS and Interface in proportion to their respective
Divided Shares; (d) any reference in the ESAs to the Effective Interest Rate shall
hence forth be a reference to 7.5%, (e) VCR and the Other
Customers shall have further options to purchase the Central Plant and Other Facilities (the
“Early Options”) only on certain dates (“Option Dates”) during the Renewal Term by making a
Purchase Option Payment at fixed sums (“Early Option Payments”) as set forth in the following
table, provided however VCR and the Other Customers shall not be permitted to exercise an
Early Option in the event of a Buyer Default under an ESA, in which case the Termination
Payment shall be governed by Section 9.1 of the ESA:

	 	 	 
	Option Date

	 	Early Option Payment
	 
	 	 
	July 1, 2012

	 	Thirty One Million, Seven Hundred Thousand US Dollars ($31,700,000)
	July 1, 2014

	 	Twenty Three Million, Five Hundred Thousand US Dollars ($23,500,000)
	July 1, 2016

	 	Twenty Million, Three Hundred Thousand US Dollars ($20,300,000)

(f) All such Early Options shall only be exercisable by giving not less than ninety (90)
days written notice prior to the requisite Option Dates and all Early Option Payments shall
be allocated among VCR, GCS and Interface in proportion to their respective Divided Shares.
Upon payment of any and all such Early Option Payments due and owing, no further Capacity
Payments shall be due thereafter.

	 	4.	 	Not later than one year prior to the end of the Renewal Term, the Parties shall meet to
discuss the possibility of agreeing upon a subsequent renewal period on such terms and
conditions as may be acceptable to the Parties each in its sole discretion. In the event
that the Parties are unable to agree upon a subsequent renewal period by ninety (90) days
prior to the end of the Renewal Term, upon such end date, the Buyer shall pay the Seller
the Purchase Option Payment set forth in Section 3.(b) above and the ESAs shall terminate.

	 	5.	 	Section 3.3 is hereby amended to clarify that the Energy Management Services are provided by
Seller on a non-exclusive basis.

 

4

 

	 	6.	 	Notwithstanding anything in the ESAs to the contrary, the Parties agree that in the event VCR
and the other Customers exercise any of the Early Purchase Options set forth above, Trigen
shall continue to provide the O&M Services and the Energy Management Services pursuant to
Sections 3.2 and 3.3 respectively of the ESAs and VCR and the Other Customers shall
continue to receive and pay for such O&M Services and Energy Management Services under Sections
4.2 and 4.3 respectively of the ESAs for the remainder of the Renewal Term.

	 	7.	 	Schedule 9.3 of the ESAs is hereby replaced with a Replacement Schedule 9.3, which is
attached hereto as Exhibit B, incorporated by reference and made a part of this Third
Amendment.

	 	8.	 	Upon either (a) the exercise and satisfaction of the obligation of the Buyer and the Other
Customers to pay the full Purchase Option Payment at the expiration of the Renewal Term as set
forth in Section 3.(b) above or (b) a permitted termination of the ESAs by any Party due to
the default of another Party and the payment in full by the Buyer and the Other Customers of
the applicable Termination Payment set forth in Replacement Schedule 9.3, the Ground Lease and
the Easement Agreements shall expire automatically and be of no further force and effect
(except for any provisions that by their express terms survive termination) except that Trigen
shall execute any documents reasonably necessary and in reasonable form to confirm such
expiration and termination,

	 	9.	 	Schedule 3.2A to the ESAs, Operation and Maintenance Services, is hereby amended by

deleting the fourth paragraph of Section I, Staffing, and replacing it with the following:
“Seller shall execute the work by providing a staff which consists of the types and
quantity of the following personnel:

	 	 	 	 	 
	General Manager
	 	 	1	 
	Facility Maintenance Manager
	 	 	1	 
	Central Plant Manager
	 	 	1	 
	Environ/Safety Manager
	 	 	1	 
	Instrument & Controls Manager
	 	 	1	 
	Shift Supervisors
	 	 	4	 
	Maintenance Clerk
	 	 	1	 
	Administrative Assistant
	 	 	1	 
	Senior Facilities Technicians
	 	 	26	 
	Central Plant Operators
	 	 	10	 
	Assistant Plant/Facility Operators
	 	 	3	 
	 
	 	 	 	 
	FTEs
	 	 	50	 

 

5

 

The Parties agree that, for each year of the Renewal Term, the labor costs will be
negotiated based on an assumed maximum labor force to provide the O&M Services of 50
FTEs. Accordingly, the Parties agree that the labor costs set forth for the full 2009
Budget year, previously agreed upon at $5,236,742, based on an assumed labor force of
52 FTE’s, will be reduced by $200,000, i.e., down to $5,036,742.”

	 	10.	 	If an event occurs permitting VCR and the other Customers to terminate the ESAs pursuant to
Section 3.4(c) of the ESAs, the Termination Payment shall be calculated and paid in
accordance with Paragraph (1) of Replacement Schedule 9.3.

	 	11.	 	If an event occurs permitting Trigen to terminate the ESAs pursuant to Section 9.1 of the
ESAs, the Termination Payment shall be calculated and paid in accordance with Paragraph (2)
of Replacement Schedule 9.3.

	 	12.	 	Schedule 4.1 of the ESAs, relating to the Capacity Payment Determination, and the
Attachment to Schedule 4.1 are deleted.

	 	13.	 	Section 4.1 of the ESAs is amended as follows: (a) any reference to the Capacity Payments
being defined and determined in accordance with Schedule 4.1 is deleted, and (b) the
Capacity Payments shall be determined in accordance with paragraph 3(c) of this Third
Amendment instead.

	 	14.	 	Section 4.5 of the ESAs is amended as follows: (a) any reference to a Capacity Payment
being determined in accordance with Schedule 4.1 is deleted and (b) the Capacity Payment
shall be determined in accordance with paragraph 3(c) of this Third Amendment instead.

	 	15.	 	The reference to the Termination Payment in Section 9.1, which is due in the event of a
Buyer Default, shall be deemed a reference to the Termination Payment described in
Paragraph (2) of Replacement Schedule 9.3.

	 	16.	 	The fax number for VCR in Section 13.5 of the Amended ESA is hereby changed to (702)
414-4421.

	 	17.	 	Nothing in this Third Amendment is intended to vary or modify any of the rights or
obligations that any Party owes to any other Party under that certain Fourth Amended and
Restated Reciprocal Easement, Use and Operating Agreement among Interface, GCS, Phase II Mall
Subsidiary, LLC, VCR and Palazzo Condo Tower, LLC, as amended (the “REA”).

 

6

 

	 	18.	 	Except as provided herein, the Amended ESA and the Grand Canal Shoppes ESA
and the Interface ESA remain in full force and effect

	 	19.	 	The Parties agree to execute and deliver, or to cause to be executed and
delivered, such additional and further documents and instruments as may be necessary
or appropriate to carry out the intents and purposes of this Third Amendment.

	 	 	 	 	 
	VENETIAN CASINO RESORT, LLC

	 	TRIGEN-LAS VEGAS ENERGY COMPANY, LLC	 	 
	(“BUYER”)

	 	(“SELLER”)	 	 
	 
	 	 	 	 
	By: /s/ Robert G. Goldstein

	 	By: /s/ Patrick Bastien	 	 
	 

	 	 

	 	 
	Name: Robert G. Goldstein

	 	Name: Patrick Bastien
	 	 
	Title: President & COO

	 	Title: Senior Vice President
	 	 
	 
	 	 	 	 
	INTERFACE GROUP-NEVADA, INC.

	 	GRAND CANAL SHOPS II, LLC	 	 
	(“INTERFACE”)

	 	(“GCS”)	 	 
	 
	 	 	 	 
	By: /s/ Robert G. Goldstein

	 	By: /s/ Daniel Sheridan	 	 
	 

	 	 

	 	 
	Name: Robert G. Goldstein

	 	Name: Daniel Sheridan
	 	 
	Title: An Authorized Agent

	 	Title: Authorized Signatory
	 	 

 

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