Document:

Change in Control Agreement

 Exhibit 10.4 
 CHANGE IN CONTROL AGREEMENT 
 This Change in Control Agreement (“Agreement”) is
entered into as of the 14th day of April, 2009, by and among FIRST CAPITAL BANK (the “Bank”), and K. Bradley Hildebrandt, (the “Officer”). 
 1. Purpose. The Bank recognizes that the possibility of a Change in Control (as defined herein) may arise and that may result in distraction or departure of management which would be to the detriment of
the Bank. Accordingly, the Board of Directors of the Bank (the “Bank’s Board”) has determined that appropriate steps should be taken to encourage the continued attention of management so that Officer can assess and advise the Board on
proposed transactions without being influenced by uncertainties on management’s own situation. Nothing in this Agreement shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing
between the Officer and the Bank, the Officer shall not have any right to be retained in the employ of the Bank prior to or after a Change in Control. Accordingly, the Officer is an “at will” employee of the Bank, and either party may
terminate such employment at any time for any reason, with our without cause, subject to the provisions of this Agreement. 
 2. Term
of Agreement The term of this Agreement shall be deemed to have commenced on the date hereof (the “Commencement Date”) and shall continue in effect until the date that is six (6) months following the Termination Date (as such
term is hereinafter defined). Notwithstanding the foregoing, in the event Officer becomes entitled to receive a payment from the Bank in connection with a Change in Control pursuant to Section 4 of this Agreement, this Agreement shall continue
in effect until such time as Officer has received full payment of the amount to which Officer is entitled under Section 4(a) of this Agreement. 
 3. Change in Control No benefits shall be payable hereunder unless there shall have been a Change in Control as set forth below. For the purposes of this Agreement, a “Change in Control” shall
mean: 
 (a) The acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”), of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of the then outstanding shares of common stock of
the Bank or First Capital Bancorp, Inc., the sole shareholder of the Bank (the “Holding Company”); provided, however, that the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Bank
or the Holding Company (excluding an acquisition by virtue of the exercise of a conversion privilege), (ii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Bank or the Holding Company, or
(iii) any acquisition by any corporation pursuant to a transaction described in subsection (c) of this Section 3 if, upon consummation of the transaction, all of the conditions described in subsection (c) are satisfied;

 (b) Individuals who, as of the date hereof, constitute the Bank’s Board or the Holding Company’s Board of Directors (in either
case, an “Incumbent Board”) cease for any reason to constitute a majority of such Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Bank’s
or the Holding Company’s shareholders, was approved by a vote of at least two-thirds of the directors then comprising the 

  

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Incumbent Board of the applicable company shall be considered as though such individual were a member of such Incumbent Board, but excluding for this purpose
any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Incumbent Board; or 
 (c) Approval by the shareholders of the
Bank or the Holding Company of either (1) a reorganization, merger, share exchange or consolidation of the Bank or the Holding Company by, with or into any other corporation or (2) the sale or disposition of all or substantially all of the
assets of the Bank or the Holding Company (any of the foregoing transactions, a “Reorganization”); provided, however, that approval by the shareholders of a Reorganization shall not constitute a Change in Control if, upon consummation of
the Reorganization, each of the following conditions is satisfied: 
 (i) more than 50% of the then outstanding shares of common stock of the
corporation resulting from the Reorganization is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were beneficial owners of the outstanding common stock of the Bank or the Holding
Company, as applicable, immediately prior to the Reorganization in substantially the same proportions as their ownership, immediately prior to such transaction, of such outstanding common stock; 
 (ii) no Person (excluding any employee benefit plan (or related trust) of the Bank or the Holding Company, as applicable) beneficially owns, directly or
indirectly, 20% or more of either (1) the then outstanding shares of common stock of the corporation resulting from the transaction or (2) the combined voting power of the then outstanding voting securities of such corporation entitled to
vote generally in the election of directors; and 
 (iii) at least a majority of the members of the board of directors of the corporation
resulting from the Reorganization were members of the Incumbent Board of the Bank or the Holding Company, as applicable, at the time of the execution of the initial agreement providing for the Reorganization. 
 4. Termination in Connection with Change in Control 
 (a) Termination Payment. In the event Officer’s employment with the Bank terminates or is terminated during (i) the six (6) months immediately preceding a Change in Control, or (ii) the six
(6) months immediately following a Change in Control, unless such termination in either case is or was (A) because of the death of the Officer, (B) by the Bank for Cause or Disability or (C) by the Officer other than for Good
Reason (all as such capitalized terms are hereinafter defined), Officer shall be entitled to receive payment from the Bank in an amount equal to one (1) times Officer’s annual base salary immediately preceding the Date of Termination,
which amount shall be paid in equal installments payable on the Bank’s regular pay days, over the next twelve (12) months, without interest, beginning on the next pay day following the later to occur of the Change in Control or the
Termination Date, or as otherwise permitted under the regulations promulgated under Section 409A of the Internal Revenue Code (the “Code”). 
 (b) Disability. Termination by the Bank of the Officer’s employment based on “Disability” shall mean termination because of the Officer’s inability to perform Officer’s duties with the
Bank on a full time basis for 120 consecutive days or a total of at least 180 days in any twelve month period as a result of the Officer’s incapacity due to physical or mental illness (as determined by an independent physician selected by the
Board). 
  

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 (c) Cause. Termination by the Bank of the Officer’s employment for “Cause” shall
mean termination for (i) gross incompetence, gross negligence, willful misconduct in office or breach of a material fiduciary duty owed to the Bank or any subsidiary or affiliate thereof; (ii) conviction of a felony, a crime of moral
turpitude or commission of an act of embezzlement or fraud against the Bank or any subsidiary or affiliate thereof; (iii) any material breach by the Officer of a material term of this Agreement, including, without limitation, material failure
to perform a substantial portion of his duties and responsibilities hereunder, or (iv) deliberate dishonesty or disloyalty of the Officer with respect to the Bank or any subsidiary or affiliate thereof. 
 (d) Good Reason. The Officer shall be entitled to terminate Officer’s employment for “Good Reason” as defined below. For purposes
of this Agreement, termination for “Good Reason” shall mean termination based on: 
 (i) a material reduction by the Bank in the
Officer’s annual base salary; 
 (ii) the failure by the Bank to pay to the Officer any portion of Officer’s compensation or to pay
to the Officer any portion of an installment of deferred compensation under any deferred compensation program of the Bank within 10 days of the date such compensation is due (it being understood and agreed that each annual bonus shall be paid no
later than the end of the third month of the year next following the year for which the annual bonus is awarded, unless the Officer shall elect to defer the receipt of such annual bonus); 
 (iii) the Bank’s requiring the Officer to be based at any office that is greater than thirty-five (35) miles from where the Officer’s
office was previously located, except for required travel on the Bank’s business to an extent substantially consistent with the business travel obligations which the Officer undertook on behalf of the Bank prior to such time; 
 (iv) the failure by the Bank to obtain an agreement reasonably satisfactory to the Officer from any successor to assume and agree to perform this
Agreement; or 
 (v) the failure by the Bank to continue in effect any Plan (as hereinafter defined) in which the Officer is participating
(or Plans providing the Officer with at least substantially similar benefits) other than as a result of the normal expiration of any such Plan in accordance with its terms, or the taking of any action, or the failure to act, by the Bank which would
adversely affect the Officer’s continued participation in any of such Plans on at least as favorable a basis to the Officer as previously in place, or which would materially reduce the Officer’s benefits in the future under any of such
Plans or deprive the Officer of any material benefit enjoyed by the Officer. For purposes of this Agreement, “Plan” shall mean any compensation plan or any employee benefit plan such as a thrift, pension, profit sharing, medical,
disability, accident, life insurance plan or a relocation plan or policy or any other plan, program or policy of the Bank intended to benefit employees. 
 Notwithstanding the foregoing, prior to the Officer’s voluntary termination for Good Reason, the Officer must give the Bank written notice of the existence of any condition set forth in clause (i) –
(vi) above within 90 days of such initial existence and the Bank shall have 30 days from the date of such notice in which to cure the condition giving rise to Good Reason, if curable. If during such 30-day period, the Bank cures the condition
giving rise to Good Reason, no benefits shall be due under Section 4(a) of this Agreement with respect to such occurrence. If, during such 30-day 

  

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period, the Bank fails or refuses to cure the condition giving rise to Good Reason, the Employee shall be entitled to benefits under Section 4(a) of
this Agreement upon such termination; provided such termination occurs within 24 months of such initial existence of the applicable condition. 
 (e) Restrictive Covenants. The Officer’s right to receive any payments under Section 4(a) of this Agreement shall be conditioned upon Officer’s agreement that, during the period Officer is entitled to receive payments
under such Section 4(a), Officer shall not: 
 (i) Directly or indirectly, (a) solicit, contact, call upon, communicate with, or
attempt to communicate with any Bank client with the intent of providing competitive services to such client, (b) sell, provide or divert any competitive services to any Bank client, (c) perform or engage in any competitive services for
any Bank client, or (d) accept or receive any Bank client for the purpose of providing any competitive services. For the purposes of this Agreement, “client” shall mean: (1) any individual or entity that was a client of the Bank
within one year of Officer’s termination, or (2) any individual, entity, or property that was solicited for business by the Bank within one year of Officer’s termination. “Competitive services” shall mean (x) lending
services in connection with direct borrowings, (y) support services provided to intermediary banks and other lenders participating with the Bank in direct borrowings and (z) deposit services. In accordance, with the foregoing, as used
herein “client” shall mean individuals or entities (xx) that were, or were solicited to be, direct borrowers from the Bank, or (yy) that were, or were solicited to be, participant lenders with the Bank. This provision is not intended
to prohibit Officer from providing or offering competitive services to persons or entities that are not Bank clients. 
 (ii) Directly or
indirectly, solicit or induce, or attempt to solicit or induce, any present employee, any past employee who was employed by the Bank within one year of Officer’s termination, or any future employee of the Bank to leave the Bank for any reason
whatsoever or hire any individual described in this section. 
 Notwithstanding the above, the restrictive covenants, set forth in Sections
4(e)(i) and 4(e)(ii) above, shall not apply, and Officer shall not be precluded from such actions, for as long as Officer’s right to receive payments under Section 4(a) has been terminated or suspended pursuant to Section 9 of this
Agreement; provided, however, that upon the beginning or resumption of such payments, Officer shall immediately terminate all such actions. 
 (f) Notice of Termination. Any termination by the Bank on the one hand or by the Officer for Good Reason shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice
of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon. 
 (g)
Date of Termination. “Date of Termination” means (i) if the Officer’s employment is terminated by the Bank for Cause or Disability, or by the Officer for Good Reason, the date of receipt of the Notice of Termination or any
later date specified therein, as the case may be, and (ii) if the Officer’s employment is terminated by the Bank other than for Cause of Disability, the date specified in the Notice of Termination. 
 5. Binding Agreement This Agreement shall be binding upon and inure to the benefit of the Officer (and his personal representative), the
Bank, and any successor organization or organizations which shall succeed to substantially all of the business and property of the Bank, whether by means of merger, consolidation, acquisition of all or substantially of all of the assets of the Bank
or otherwise, 

  

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including by operation of law. For purposes of this Agreement, the term “Bank” shall include any subsidiaries of the Bank and any corporation or
other entity which is the surviving or continuing entity in respect of any merger, consolidation or form of business combination in which the Bank ceases to exist; provided, however, that for purposes of determining whether a Change in Control has
occurred herein, the term “Bank” shall refer to First Capital Bank or its successors. 
 6. Fees and Expenses;
Mitigation In any action related to the interpretation or enforcement of this Agreement, the prevailing party shall be entitled to recover from the non-prevailing party all of the costs and expenses, including reasonable attorney’s fees
and court costs, incurred by the prevailing party in such action. Officer shall not be required to mitigate the amount of any payment the Bank becomes obligated to make to the Officer in connection with this Agreement, by seeking other employment or
otherwise. 
 7. Internal Revenue Code Section 409A It is intended that any payment or benefit which is provided pursuant
to or in connection with this Agreement which is considered to be nonqualified deferred compensation subject to Section 409A of the Code shall be paid and provided in a manner, and at such time and in such form, as complies with the applicable
requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance. In connection with effecting such compliance with Section 409A of the Code, the following shall apply: 
 (a) Notwithstanding any other provision of this Agreement, the Bank is authorized to amend this Agreement, to delay the payment of any monies and/or
provision of any benefits in such manner as may be determined by it to be necessary or appropriate to comply, or to evidence or further evidence required compliance, with Section 409A of the Code (including any transaction or grandfather rules
thereunder). 
 (b) Neither the Officer nor the Bank shall take any action to accelerate or delay the payment of any monies and/or provision
of any benefits in any manner which would not be in compliance with Section 409A of the Code (including any transition or grandfather rules thereunder). Notwithstanding the foregoing: 
 (i) Payment may be delayed for a reasonable period in the event the payment is not administratively practical due to events beyond the recipient’s
control such as where the recipient is not competent to receive the payment, there is a dispute as to amount due or the proper recipient of such payment, additional time is needed to calculate the amount payable, or the payment would jeopardize the
solvency of the Bank. 
 (ii) Payments shall be delayed in the following circumstances: (1) where the Bank reasonably anticipates that
the payment will violate the terms of a loan agreement to which the Bank is a party and that the violation would cause material harm to the Bank; or (2) where the Bank reasonably anticipates that the payment will violate Federal securities laws
or other applicable laws, provided that any payment delayed by operation of this clause (B) will be made at the earliest date at which the Bank reasonably anticipates that the payment will not be limited or cause the violations described.

 (c) If the Officer is a specified employee of a publicly traded corporation as required by Section 409A(a)(2)(B)(i) of the Code, and
any payment or provision of any benefit hereunder is subject to Section 409A, any payment or provision of benefits in connection with a separation from service payment event (as determined for purposes of Section 409A of the Code), as
opposed to another payment event permitted under Section 409A, shall not be made until six months after the Officer’s separation from service (the “409A Deferral Period”). In the event such payments are otherwise due to be made
in installments or periodically during the 409A Deferral Period, the payments which would otherwise have been made in the 

  

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409A Deferral Period shall be accumulated and paid in a lump sum as soon as the 409A Deferral Period ends, and the balance of the payments shall be made as
otherwise scheduled. In the event benefits are required to be deferred, any such benefit may be provided during the 409A Deferral Period at the Officer’s expense, with the Officer having a right to reimbursement from the Bank once the 409A
Deferral Period ends, and the balance of the benefits shall be provided as otherwise scheduled. 
 (d) To the extent that any portion, or
all, of any benefit payable hereunder meets the requirements of (i) and (ii) of this subparagraph (d), the six-month delay rule set forth in subparagraph (c) above shall not apply to such portion of the benefit payable. The benefit
payable, or any portion thereof, will not be subject to the six-month delay rule set forth in subparagraph (c) above if and to the extent it is paid to the Officer no later than the last day of the second calendar year following the year in
which the termination occurs and it does not exceed two times the lesser of: 
 (i) The sum of Officer’s annual compensation (as
determined in accordance with Section 1.409A-1(b)(9)(iii) of the regulations issued under Code Section 409A) for the calendar year preceding the year of termination; or 
 (ii) The maximum amount that may be taken into account under a qualified plan pursuant to Code Section 401(a)(17) for the calendar year in which the
termination occurs. 
 (e) If a Change in Control occurs but the Change in Control does not constitute a change in ownership of the Holding
Company or the Bank or in the ownership of a substantial portion of the assets of the Holding Company or the Bank as provided in Section 409A(a)(2)(A)(v) of the Code, then payment of any amount or provision of any benefit under this Agreement
which is considered to be nonqualified deferred compensation subject to Section 409A of the Code shall be deferred until another permissible event contained in Section 409A occurs (e.g., death, disability, separation from service from the
Bank and its affiliated companies as defined for purposes of Section 409A of the Code), including any deferral of payment or provision of benefits for the 409A Deferral Period as provided above. 
 8. Possible Reduction in Payment and Benefits. Following any Change in Control, to the extent that any amount of pay or benefits
provided under to the Officer under this Agreement would cause the Officer to be subject to excise tax under sections 280G and 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), and after taking into consideration all
other amounts payable to the Officer under other Bank plans, programs, policies, and arrangements, then the amount of pay and benefits provided under this Agreement shall be reduced to the extent necessary to avoid imposition of any such excise
taxes. The Officer may select the payments and benefits to be limited or reduced, including an election not to have the vesting of certain benefits, including stock options, accelerate as a result of a Change in Control. 
 9. TARP Restrictions. Notwithstanding anything set forth herein to the contrary, it is hereby agreed that the Officer shall not be
entitled to receive any compensation following the termination of his or her employment, and the Bank shall have no obligation to make any such payments, to the extent such payments are prohibited by any governmental program in which the Bank
participants or any regulation governing the Bank, including without limitation, the U.S. Department of the Treasury’s TARP Capital Purchase Program (“TARP”). In addition, it is hereby agreed that this Agreement shall be amended as
necessary or appropriate in connection with TARP or any other applicable governmental regulation or program. 
  

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 10. Miscellaneous 
 (a) No provision of this Agreement may be modified, waived or discharged unless such modification, waiver or discharge is agreed to in a writing signed by
the Officer and the Chairman of the Board or President of the Bank. No waiver by any party hereto at any time of any breach by the other party hereto of, or for compliance with, any condition or provision of this Agreement to be performed by such
other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof
have been made by either party which are not expressly set forth in this Agreement. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute but a single
instrument. 
 (b) The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the
Commonwealth of Virginia. 
 (c) The invalidity or unenforceability of any provision of this Agreement shall not affect the validity
or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
 (d) The Holding Company executes
this Agreement to evidence its consent hereto. 
 (e) Any notices, requests, demands and other communications provided for this Agreement
shall be sufficient if in writing and delivered in person or sent by registered or certified mail, postage prepaid (in which case notice shall be deemed to have been given on the fifth day after mailing), or by overnight delivery by a reliable
overnight courier service (in which case notice shall be deemed to have been given on the day after delivery to such courier service) to the Officer at the last address the Officer has filed in writing with the Bank, or to the Bank at the
Bank’s corporate headquarters, attention of the President. 
 IN WITNESS WHEREOF, this Agreement has been executed as a sealed
instrument by the Bank by its duly authorized officer, and by the Officer, as of the date first above written. 
  

									
	FIRST CAPITAL BANCORP, INC.	 		 	FIRST CAPITAL BANK
					
	By:	 	 /s/ John M. Presley
	 		 	By:	 	 /s/ Robert G. Watts, Jr.

	Name:	 	John M. Presley	 		 	Name:	 	Robert G. Watts, Jr.
	Title:	 	Managing Director & CEO	 		 	Title:	 	President & CEO
					
		 		 		 	OFFICER:	 	
					
		 		 		 	By:	 	 /s/ K. Bradley Hildebrandt

		 		 		 	Name:	 	K. Bradley Hildebrandt
		 		 		 	Title:	 	Executive Vice President

  

 7Promissory Note issued to Herakles Investments, Inc. dated April 8, 2009

 Exhibit 10.1 
 PROMISSORY NOTE 
  

					
	$850,000	 	Dallas, Texas	 	April 8, 2009

 FOR VALUE RECEIVED, the undersigned, North American Technologies Group, Inc. (“NATK”), a
Delaware corporation (herein called “Maker”), whose address is 429 Memory Lane, Marshall, Texas 75672, hereby promises to pay to the order of Herakles Investments, Inc. (herein sometimes called “Payee”), the principal sum
of Eight Hundred Fifty Thousand Dollars ($850,000), or so much thereof from time to time outstanding as shall be advanced, with interest on the unpaid balance thereof from date of advancement until maturity at the rate or rates hereinafter provided,
both principal and interest payable as hereinafter provided in lawful money of the United States of America at the offices of Payee at 5949 Sherry Lane, Suite 1900, Dallas, Texas 75225, or at such other place as from time to time may be designated
by the holder of this Note or in such other form as Payee may designate or consent. 
 As herein provided the unpaid Principal Amount of this
Note (or portions thereof) from time to time outstanding shall bear interest prior to maturity at the Applicable Rate, provided that in no event shall the Applicable Rate exceed the Maximum Rate. Notwithstanding the foregoing, if at any time the
Applicable Rate exceeds the Maximum Rate, the rate of interest payable under this Note shall be limited to the Maximum Rate, but any subsequent reductions in the Applicable Rate shall not reduce the Applicable Rate below the Maximum Rate until the
total amount of interest accrued on this Note equals the total amount of interest which would have accrued at the Applicable Rate if the Applicable Rate had at all times been in effect. 
 As used in this Note, the following terms shall have the meanings indicated opposite them: 
 “Applicable Rate.” The Applicable Rate shall be Fifteen Percent (15%) per annum, compounding quarterly. 
 “Default Rate.” The Default Rate shall be the Maximum Rate. 
 “Loan.” The $850,000 loan to be made to Maker by Payee which is evidenced hereby. 
 “Maturity Date.” The earlier of April 8, 2010 or the date on which Maker issues debentures or equity securities to Payee pursuant
to a Stock Purchase Agreement between Maker and Payee. 
 “Maximum Rate.” The maximum interest rate permitted under
applicable law, it being understood that, if applicable law provides for a ceiling under Chapter 301, Subchapter A of the Texas Credit Title (as may be amended from time to time), such ceiling shall be the “weekly” ceiling. 
 “Principal Amount.” That portion of the Loan evidenced hereby as is from time to time outstanding. 
 Maker shall have the right to prepay this Note, in whole or in part, without premium or penalty upon written notice thereof given to Payee at least five
(5) days prior to the date to be fixed therein for prepayment, and upon the payment of all accrued interest on the amount prepaid (and any interest which has accrued at the Default Rate, if applicable, and other sums that may be payable
hereunder) to the date so fixed. 
 Interest shall be payable quarterly beginning July 1, 2009. The Principal Amount and any remaining
accrued interest shall be due and payable on the Maturity Date. 
 Notwithstanding anything to the contrary contained in this Note, at the
option of the holder of this Note and upon notice to the Maker at any time after the occurrence of a default hereunder, from and after such notice and during the continuance of such default, the unpaid principal of this Note from time to time
outstanding and all past due interest shall, to the extent permitted by applicable law, bear interest at the Default Rate, provided that in no event shall such interest rate be more than the Maximum Rate. 

 All interest accruing under this Note shall be calculated on the basis of a 360-day year applied to the
actual number of days in each month. The Maker shall make each payment which it owes hereunder not later than twelve o’clock, noon, Dallas, Texas, time, on the date such payment becomes due and payable (or the date any voluntary prepayment is
made), in immediately available funds. Any payment received by the Payee after such time will be deemed to have been made on the next following business day. As used herein, the term “business day” shall mean any day other than a Saturday
or Sunday or any other day on which commercial banks are authorized or required by law to be closed in Dallas, Texas. 
 Payee and Maker
intend in the execution of this Note and all other instruments now or hereafter securing this Note to contract in strict compliance with applicable usury law. In furtherance thereof, Payee and Maker stipulate and agree that none of the terms and
provisions contained in this Note, or in any other instrument executed in connection herewith, shall ever be construed to create a contract to pay for the use, forbearance or detention of money, interest at a rate in excess of the Maximum Rate;
neither Maker nor any guarantors, endorsers or other parties now or hereafter becoming liable for payment of this Note shall ever be obligated or required to pay interest on this Note at a rate in excess of the Maximum Rate that may be lawfully
charged under applicable law, and the provisions of this paragraph shall control over all other provisions of this Note and any other instruments now or hereafter executed in connection herewith which may be in apparent conflict herewith. Payee,
including each holder of this Note, expressly disavows any intention to charge or collect excessive unearned interest or finance charges in the event the maturity of this Note is accelerated. If the maturity of this Note shall be accelerated for any
reason or if the Principal Amount is paid prior to the end of the term of this Note, and as a result thereof the interest received for the actual period of existence of the Loan exceeds the amount of interest that would have accrued at the Maximum
Rate, the Payee or other holder of this Note shall, at its option, either refund to Maker the amount of such excess or credit the amount of such excess against the Principal Amount and thereby shall render inapplicable any and all penalties of any
kind provided by applicable law as a result of such excess interest. In the event that Payee or any other holder of this Note shall contract for, charge or receive any amounts and/or any other thing of value which are determined to constitute
interest which would increase the effective interest rate on this Note to a rate in excess of that permitted to be charged by applicable law, all such sums determined to constitute interest in excess of the amount of interest at the lawful rate
shall, upon such determination, at the option of the Payee or other holder of this Note, be either immediately returned to Maker or credited against the Principal Amount, in which event any and all penalties of any kind under applicable law as a
result of such excess interest shall be inapplicable. By execution of this Note, Maker acknowledges that it believes the Loan evidenced by this Note to be non-usurious and agrees that if, at any time, Maker should have a good faith reason to
believe, based on the advice of counsel, that the Loan is in fact usurious, it will give the Payee or other holder of this Note notice of such condition and Maker agrees that the Payee or other holder shall have ninety (90) days in which to
make appropriate refund or other adjustment in order to correct such condition if in fact such exists. The term “applicable law” as used in this Note shall mean the laws of the state of Texas or the laws of the United States, whichever
laws allow the greater rate of interest, as such laws now exist or may be changed or amended or come into effect in the future. 
 Should the
indebtedness represented by this Note or any part thereof be collected at law or in equity or through any bankruptcy, receivership, probate or other court proceedings or if this Note is placed in the hands of attorneys for collection after default,
Maker and all endorsers, guarantors and sureties of this Note jointly and severally agree to pay to the Payee or other holder of this Note in addition to the principal and interest due and payable hereon reasonable attorneys’ and collection
fees. 
 Maker and all endorsers, guarantors and sureties of this Note and all other persons obligated or to become obligated on this Note
severally waive presentment for payment, demand, notice of demand and of dishonor and nonpayment of this Note, notice of intention to accelerate the maturity of this Note, protest and notice of protest, diligence in collecting, and the bringing of
suit against any other party, and agree to all renewals, extensions, modifications, partial payments, releases or substitutions of security, in whole or in part, with or without notice, before or after maturity. 
 THIS NOTE AND THE PARTIES’ RIGHTS AND OBLIGATIONS HEREUNDER SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF TEXAS (WITHOUT GIVING EFFECT TO TEXAS’ PRINCIPLES OF CONFLICTS OF LAW) AND THE LAWS OF THE UNITED STATES APPLICABLE TO TRANSACTIONS IN SUCH 

 
STATE. MAKER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE TEXAS OR FEDERAL COURT SITTING IN DALLAS, TEXAS OVER ANY SUIT, ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS NOTE, AND MAKER HEREBY AGREES AND CONSENTS THAT, IN ADDITION TO ANY METHODS OF SERVICE OF PROCESS PROVIDED FOR UNDER APPLICABLE LAW, ALL SERVICE OF PROCESS IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY TEXAS OR
FEDERAL COURT SITTING IN DALLAS, TEXAS MAY BE MADE BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, DIRECTED TO MAKER AT THE ADDRESS OF MAKER CONTAINED HEREIN, AND SERVICE SO MADE SHALL BE COMPLETE FIVE (5) DAYS AFTER THE SAME SHALL
HAVE BEEN SO MAILED. 
 MAKER HEREBY EXPRESSLY AND UNCONDITIONALLY WAIVES, IN CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING BROUGHT BY THE HOLDER OF THIS
NOTE IN CONNECTION WITH THE LOAN, ANY AND EVERY RIGHT IT MAY HAVE TO (I) INJUNCTIVE RELIEF, (II) A TRIAL BY JURY, (Ill) INTERPOSE ANY COUNTERCLAIM THEREIN (OTHER THAN A COMPULSORY COUNTERCLAIM) AND (IV) HAVE THE SAME CONSOLIDATED WITH ANY OTHER
OR SEPARATE SUIT, ACTION OR PROCEEDING. Nothing herein contained shall prevent or prohibit Maker from instituting or maintaining a separate action against the holder of this Note with respect to any asserted claim. 
 Signed as of the 8th day of April, 2009. 
  

			
	MAKER:
	
	NORTH AMERICAN TECHNOLOGIES GROUP, INC., a Delaware corporation
		
	By:	 	 /s/ Pat Long

	Name:	 	Pat Long
	Title:	 	CEO
	
	PAYEE:
	
	HERAKLES INVESTMENTS, INC.
		
	By:	 	 /s/ Darron K. Ash

	Name:	 	Darron K. Ash
	Title:	 	President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]