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Exhibit 4.13  

THIS
AMENDED AND RESTATED SECURED CONVERTIBLE PROMISSORY NOTE AND THE SECURITIES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS AND MAY NOT
BE TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS THE SECURITIES HAVE BEEN REGISTERED UNDER SUCH ACT AND ALL SUCH OTHER APPLICABLE LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. 

 
 

SECURED CONVERTIBLE PROMISSORY NOTE    
    

	 	 	$

        FOR
VALUE RECEIVED, INFORMATION SERVICES EXTENDED, INC., a Delaware corporation (the "Maker"), hereby promises to pay to the order
of Search Mezzanine Investors LLC, a New York limited liability company ("Holder"), the principal amount
of                        
($                        ), together
with all other amounts due and owing hereunder and to pay interest on the unpaid principal balance hereof outstanding from time to time, from and including the date hereof until and including the date
the principal amount hereof is paid in full, at the rate and at the times set forth in Section 2.
On                        , Maker issued an Amended and
Restated Secured Convertible Promissory Note (the "Kimberlin Note") to Kevin Kimberlin Partners, L.P., a Delaware limited partnership ("Kimberlin"). The
Kimberlin Note amends, restates and replaces that certain promissory note (the "Old Note"), made by Maker payable to the order of Wachovia Bank,
N.A. dated June 7, 2002, in the aggregate principal amount of $12,080,000 (and subsequently assigned to Kimberlin). Pursuant to the Assignment Agreement (as defined below), Kimberlin assigned a
portion of the Kimberlin Note to Holder, at which time the Kimberlin Note was cancelled and replaced with a new note (the "Replacement Kimberlin Note")
and this note (the "Note") (this Note and the Replacement Kimberlin Note are hereinafter collectively referred to as the
"Notes"). 

        1.    Definitions.    For purposes of this Note, the following capitalized terms have the following meanings: 

        "Affiliate" means with respect to any Person, any other Person (i) which directly or indirectly through one or more intermediaries
controls, or is controls by, or is under common control with, such first Person, (ii) which beneficially owns or holds ten percent (10%) or more of any class of the voting stock of such first
Person, or (iii) whereby ten percent (10%) or more of the voting stock (or in the case of a Person which is not a corporation, ten percent (10%) or more of the equity interest) of such other
Person is beneficially owned or held by such first Person or by a Subsidiary of such first Person. 

        "Local Matters Assignment and Assumption Agreement" shall mean that certain Assignment and Assumption Agreement dated as of the date
hereof between Maker, as assignor, and Local Matters, Inc. (formerly known as Aptas, Inc.), a Delaware corporation ("Local Matters"), as
assignee, pursuant to which Local Matters agrees to assume all of the Obligations of the Maker under the Notes, effective as of the earlier to occur of (a) the closing of an IPO, and
(b) immediately prior to the occurrence of a Change of Control of Local Matters, provided that the transaction contemplated by the Stock Purchase Agreement between Local Matters, Maker and the
shareholders of Maker has not been rescinded prior to such date. 

        "Assignment Agreement" shall mean that certain Assignment Agreement dated as of the date hereof between Holder and Kimberlin, pursuant to
which Kimberlin assigned and transferred to Holder a pro rata share of the Kimberlin Note as set forth in the Assignment Agreement. 

        "Business Day" means any day other than (a) Saturday or Sunday or (b) any other day on which banks in the State of New York
and the State of Florida are permitted or required to be closed. 

        "Change of Control" with respect to an entity shall mean: (i)(A) any consolidation or merger of such entity with or into any other
corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the stockholders 

 

of
such entity immediately prior to such consolidation, merger or reorganization, continue to hold at least a majority of the voting power of the surviving entity in substantially the same proportions
(or, if the surviving entity is a wholly owned subsidiary, its parent) immediately after such consolidation, merger or reorganization; or (B) any transaction or series of related transactions
to which such entity is a party in which in excess of fifty percent (50%) of such entity's voting power is transferred; provided that a Change of Control shall not include any transaction or series of
transactions principally for bona fide equity financing purposes in which cash is received by such entity or any successor or indebtedness of such entity is cancelled or converted or a combination
thereof; and (ii) a sale, lease, exclusive license or other disposition of all or substantially all of the assets of such entity. 

        "Collateral" shall have the meaning provided therefor in the Security Agreement. 

        "Common Shares" shall mean the shares of common stock, $0.001 par value per share, of Local Matters. 

        "Default Rate" shall mean eight percent (8%) per annum. 

        "Event of Default" shall have the meaning given to it in Section 6(a). 

        "GAAP" means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by
a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

        "Governmental Authority" shall mean any nation or government, any state or other political subdivision thereof, and any entity exercising
executive, legislative, judicial, regulatory or administrative authority or functions of or pertaining to government. 

        "IPO" means an underwritten initial public offering of the Common Shares of Local Matters pursuant to an effective registration statement
under the Securities Act, as then in effect (or any comparable statement under any similar federal statute then in force or effect). 

        "Maturity Date" shall have the meaning given to it in Section 3(a). 

        "Note" as used herein, shall mean this Secured Convertible Promissory Note. 

        "Obligations" shall mean all obligations of the Maker to Holder however created, arising or evidenced, whether direct or indirect, joint
or several, absolute or contingent, or now or hereafter existing, or due or to become due, which arise out of or in connection with this Note, the Security Agreement and each other related document,
including, without limitation, all reasonable costs incurred by Holder in connection with the enforcement of this Note. 

        "Percentage Pro Rata Share" means 100%. 

        "Person" means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a
joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

        "Qualified IPO" means an IPO which raises net proceeds to Local Matters of at least $35 million. 

        "Repayment Amount" shall mean, with respect to the Maker and its Subsidiaries on a consolidated basis, during the period commencing on
January 1 and ending on December 31 of each year (each, a "Measuring Period"), the amount, if any, equal to the Holder's Percentage Pro
Rata Share of an amount equal to (i) the Standalone Cash Flow (as defined herein) during such Measuring Period less (ii) the aggregate
amount of all principal and interest payments (in cash or by way of setoff), during such Measuring Period, made by Local Matters (and its Affiliates) to YP Web Partners, LLC, a limited 

2

 

liability
company organized and existing under the laws of the State of Louisiana ("YP"), pursuant to that certain promissory note dated
April 14, 2005 (the "YP Note") in the aggregate original principal amount of $10,000,000.00. 

        "Security Agreement" shall have the meaning given to it in Section 3(e). 

        "Standalone Cash Flow" shall mean, with respect to the Maker and its Subsidiaries on a consolidated basis, the amount, if any, equal to
(i) 0.20 multiplied by (ii) an amount equal to Maker's net income for the Measuring Period, determined in accordance with GAAP,  plus depreciation
and amortization
expenses, and minus capitalized development expenses and hardware costs, in each case for such Measuring Period. 

        "Subsidiary" shall mean, with respect to any Person (herein referred to as the "parent"), any corporation, partnership, association or
other business entity (i) of which securities or other ownership interests representing more than fifty percent (50%) of the equity or more than fifty percent (50%) of the ordinary voting power
or more than fifty percent (50%) of the general partnership interests are, at the time any determination is being made, owned, controlled or held by the parent, or (ii) that is, at the time any
determination is made, otherwise controlled by, the parent or one or more Subsidiaries of the parent or by the parent and one or more Subsidiaries of the parent. 

        2.    Payment of Interest.    

        (a)    Calculation.    Except as otherwise expressly provided in  Section 6(b)(i) hereof, interest shall accrue (computed on
the basis of actual days elapsed and a year of 360 days) at the rate of six
percent (6%) per annum on the unpaid principal amount of this Note outstanding from time to time. 

        (b)    Payment.    Interest on the outstanding principal amount of this Note shall be paid semi-annually
in arrears on each January 1 and July 1, commencing July 1, 2005, until this Note is repaid in full. 

        3.    Payment of Principal on Note and Security.    

        (a)    Maturity Date.    The Maker shall pay the principal amount outstanding hereunder together with accrued and
unpaid interest thereon on the earlier of (i) March 31, 2013, and (ii) acceleration of the maturity of this Note by Holder pursuant to  Section 6(b)(i) (the earlier of such dates, the
"Maturity Date"). 

        (b)    Repayment Amount.    

        (i)    Until
the Obligations have been indefeasibly paid in full or all outstanding principal plus accrued interest under this Note has been converted into Common Shares,
beginning with the calendar year ended December 31, 2006, if there is a Repayment Amount for any Measuring Period, then the Maker shall pay to Holder an amount equal to the lesser of:
(z) the Repayment Amount (which Holder shall apply to the outstanding principal and accrued interest under this Note) or (y) the outstanding principal plus accrued interest under this
Note at the time of such payment, within ninety (90) days following the end of each such Measuring Period. 

        (ii)   At
the time of payment of the Repayment Amount, the Maker will deliver or cause to be delivered to Holder a statement (the "Repayment Amount
Statement"), setting forth in reasonable detail the method of calculating the Repayment Amount. In the event that Holder objects to the Maker's calculation of the Repayment
Amount, then, within 30 days after the delivery to Holder of the Repayment Amount Statement, Holder shall deliver to the Maker a notice describing in reasonable detail Holder's objection to the
Maker's calculation (an "Objection Notice"), accompanied by a statement setting forth the dollar amount determined by Holder to represent the Repayment
Amount or a request for additional information from the 

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Maker
that Holder may require in order to determine the Repayment Amount. If Holder does not deliver an Objection Notice to the Maker within the 30-day period referred to in the preceding
sentence, then the Maker's calculation of the Repayment Amount shall be binding and conclusive on the Maker and Holder. If Holder delivers an Objection Notice to the Maker within the
30-day period referred to in this paragraph, and if Holder and the Maker are unable to agree upon the calculation of the Repayment Amount within 60 days after an Objection Notice is
delivered to the Maker, Holder and the Maker shall select a nationally recognized accounting firm mutually acceptable to them (the "Neutral Accountant")
to resolve any remaining objections, the cost of which shall be paid by the party whose assertions regarding the amount of the Repayment Amount differ by the greater amount from the Repayment Amount
determined by the Neutral Accountant. If the Maker and Holder are unable to select the Neutral Accountant within 10 days after the commencement of such selection process, the Neutral Accountant
shall be PricewaterhouseCooper unless the Maker and Holder agree to another Neutral Accountant within 15 days of the commencement of the selection process. Holder and the Maker shall jointly
instruct the Neutral Accountant to resolve any unresolved objections within 30 days after referral of the matter to them, and the determination by the Neutral Accountant of the Repayment Amount
shall be conclusive and binding on the Maker and Holder absent fraud or manifest error. 

        (c)    Optional Principal Prepayments.    Prior to the Maturity Date, the principal balance of this Note, along with
all accrued interest, may be paid by the Maker in whole or in part upon five (5) days prior written notification to Holder without penalty. 

        (d)    Reserved.    

        (e)    Security Agreement.    The Maker's obligations hereunder shall be secured by all of the assets and other
property of Maker pursuant to that certain Security Agreement, between the Maker and Kimberlin, in its capacity as lender and as agent for the Lenders (as defined therein), dated as of the date hereof
(the "Security Agreement"). 

        (f)    Application of Payments.    All payments hereunder shall be applied first to accrued interest and then to
principal. 

        4.    Affirmative Covenants.    So long as this Note shall remain outstanding or any Obligations shall remain unpaid,
the Maker shall: 

        (a)    Compliance with Laws.    Comply in all material respects with applicable laws, rules, regulations, and orders,
such compliance to include, without limitation, paying before the same become delinquent all taxes, assessments, and governmental charges imposed upon it or upon its property except for good faith
contests for which adequate reserves are being maintained. 

        (b)    Notice of Defaults and Events of Default.    Provide to Holder, as soon as possible and in any event within
three (3) business days after the occurrence of each event which either (i) is an Event of Default, or (ii) with the giving of notice or lapse of time or both would constitute an
Event of Default, a written notice setting forth the details of such event and the action which is proposed to be taken by the Maker with respect thereto. 

        5.    Reserved.    

        6.    Events of Default.    

        (a)    Definition.    For purposes of this Note, an "Event of Default"
shall be deemed to have occurred if: 

        (i)    all
or any part of the interest on or principal of this Note is not paid when and as the same shall become due and payable, whether at maturity, by acceleration, by
notice of 

4

 

prepayment,
or otherwise, and such default remains more than thirty (30) days after Holder provides written notice to Maker of such default; 

        (ii)   a
default shall occur in the observance or performance in any of the other covenants or agreements of the Maker contained herein or in the Security Agreement and shall
continue for thirty (30) consecutive days after written notice thereof from Holder; or 

        (iii)  the
Maker makes an assignment for the benefit of creditors or admits in writing its inability to pay its debts generally as they become due; or an order, judgment or
decree is entered adjudicating the Maker bankrupt or insolvent; or any order for relief with respect to the Maker is entered under the Federal Bankruptcy Code; or the Maker petitions or applies to any
tribunal for the appointment of a
custodian, trustee, receiver or liquidator of the Maker, or of any substantial part of the assets of the Maker, or commences any proceeding relating to the Maker under any bankruptcy reorganization,
arrangement, insolvency, readjustment of debt, dissolution or liquidation law of any jurisdiction; or any such petition or application is filed, or any such proceeding is commenced, against the Maker
and either (x) the Maker by any act indicates its approval thereof, consent thereto or acquiescence therein or (y) such petition, application or proceeding is not dismissed within sixty
(60) days. 

        (b)    Consequences of Events of Default.    

        (i)    If
an Event of Default has occurred and shall be continuing beyond any applicable cure period, then the principal of this Note and the interest accrued hereon will, upon
written notice from Holder (provided no further notice shall be required for an Event of Default under clause 6(a)(i)), forthwith become and be due and payable, if not already due and payable.
If payment of this Note is accelerated, then the outstanding principal balance thereof shall bear interest at the Default Rate from and after the date of notice by the Maker to Holder of the Event of
Default. The Maker agrees to pay to Holder all reasonable out-of-pocket costs and expenses incurred by Holder in any effort to enforce the Maker's obligations under this Note
and pay interest at the Default Rate on such costs and expenses to the extent not paid when demanded. 

        (ii)   Holder
shall also have any other rights which Holder may have been afforded under any contract or agreement at any time and any other rights which Holder may have
pursuant to applicable law. Holder may exercise any and all of its remedies under the Security Agreement contemporaneously or separately from the exercise of any other remedies hereunder or under
applicable law. 

        (iii)  The
Maker hereby waives diligence, presentment, protest and demand and notice of protest and demand, dishonor and nonpayment of this Note, and expressly agrees that
this Note, or any payment hereunder, may be extended from time to time and that Holder may accept security for this Note or release security for this Note, all without in any way affecting the
liability of the Maker hereunder. 

        7.    Conversion.    

        (a)    Mandatory Conversion.    Effective as of the closing of the IPO, the entire outstanding principal balance of
this Note plus all accrued and unpaid interest thereon shall automatically convert into that number of Common Shares as set forth in Section 7(b). 

        (b)    Conversion Procedure and Price.    

        (i)    The
number of Common Shares issuable upon conversion shall be equal to the entire outstanding principal balance of this Note plus all accrued and unpaid interest thereon
as of the closing of the IPO divided by the price per Common Share in the IPO. 

5

 

        (ii)   Any
such conversion of this Note shall be deemed to have been effected as of the closing of the IPO. At such time as such conversion has been effected, the rights of
Holder as such holder shall cease, and Holder shall be deemed to have become the holder of record of the Common Shares represented thereby. 

        (iii)  As
soon as possible after a conversion has been effected (but in any event within five (5) business days), Local Matters shall deliver to Holder, a certificate
or certificates representing the number of Common Shares (excluding any fractional share) issuable by reason of such conversion in such name or names and such denomination or denominations as Holder
has specified to Local Matters in writing. 

        (iv)  If
any fractional Common Share would, except for the provisions hereof, be deliverable upon conversion of this Note, Local Matters, in lieu of delivering such
fractional share, shall pay Holder an amount equal to the value of such fractional share. 

        (v)   The
issuance of certificates for Common Shares upon conversion of this Note shall be made without charge to Holder for any issuance tax in respect thereof or other cost
incurred by the Maker or Local Matters, as the case may be, in connection with such conversion and the related issuance of Common Shares. Upon conversion of this Note, Local Matters shall take all
such actions as are necessary in order to ensure that the Common Shares issuable with respect to such conversion shall be validly issued, fully paid and nonassessable. 

        (vi)  Local
Matters shall not close its books against the transfer of Common Shares issued or issuable upon conversion of this Note in any manner which interferes with the
timely conversion of this Note. Holder, upon the request of Local Matters, at Local Matters' sole expense, shall assist and cooperate with Local Matters in making any required governmental filings or
in obtaining any government approval prior to or in connection with the conversion of this Note (including, without limitation, making any filings required to be made by Local Matters). 

        (vii) Local
Matters shall take all such actions as may be necessary to assure that all such Common Shares may be so issued without violation of any applicable law or
governmental regulation or any requirements of any domestic securities exchange upon which shares of Common Shares may be listed (except for official notice of issuance which shall be immediately
delivered by Local Matters upon each issuance). 

        (viii) In
case of any recapitalization, reclassification or change of the outstanding securities of Local Matters or of any reorganization of Local Matters or any similar
corporate reorganization on or after the date hereof (a "Restructuring"), then lawful and adequate provisions shall be made so that in each such case
the Holder, upon conversion of this Note at any time after the consummation of such Restructuring, shall be entitled to receive, in lieu of the shares or other securities and property receivable upon
conversion of this Note prior to such Restructuring, the shares or other securities or property (including cash) to which the Holder would have been entitled upon such consummation if the principal
and interest due under this Note had been converted immediately prior thereto, all subject to further adjustment as provided hereunder; and in each such case, the terms of this  Section 7 shall be
applicable to the shares or other securities properly receivable upon conversion of the principal and interest due under this
Note, as applicable, after the consummation of such Restructuring. 

        8.    Lost, Stolen, Destroyed or Mutilated Notes.    In case this Note shall be mutilated, lost, stolen or destroyed,
the Maker shall issue a new Note of like date, tenor and denomination and deliver the same in exchange and substitution for and upon surrender and cancellation of such mutilated Note, or in lieu 

6

 

of
this Note being lost, stolen or destroyed, upon receipt of evidence satisfactory to the Maker, including an executed affidavit of an authorized Holder officer, of the loss, theft or destruction of
such Note. 

        9.    Amendment and Waiver.    Except as otherwise expressly provided herein, the provisions of this Note may be
amended and the Maker may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Maker has obtained the prior written consent of Holder. 

        10.    Cancellation.    After all principal and accrued interest, and any other Obligations, at any time owed with
respect to this Note have been paid in full or this Note has been converted in its entirety in accordance with its terms, this Note shall immediately be surrendered to the Maker for cancellation and
shall not be reissued. 

        11.    Interpretation.    For the purposes of this Note, all dollar amounts and references to "$" or "Dollar" shall be
deemed to refer to United States of America dollars. 

        12.    Place of Payment.    Payments of principal and interest are to be paid to Holder by wire transfer in accordance
with the following instructions: 

Search
Mezzanine Investors, LLC

ABA #

Account #

RE: ISX Loan Payment 

or
to such other address or to the attention of such other person as specified by prior written notice to the Maker. 

        13.    Governing Law.    This Note shall be governed by and construed in accordance with, the laws of the State of New
York. 

        14.    Notices.    All notices and other communications provided for under this Note shall be in writing (including by
facsimile) and addressed, delivered or transmitted in accordance with the Local Matters Assignment and Assumption Agreement. 

        15.    Transfer.    Upon the acquisition of Maker or Local Matters (or any of their Affiliates) by a third party,
Maker may assign this Note, the Replacement Kimberlin Note, and the Security Agreement and all of its rights and obligations hereunder and thereunder to such third party upon written notice to Holder
and Kimberlin. In addition, Maker may assign this Note, the Replacement Kimberlin Note, and the Security Agreement and all of its rights and obligations hereunder and thereunder to Local Matters at
any time upon written notice to Holder and Kimberlin, subject to Local Matters' obligations thereunder as set forth in the Local Matters Assignment and Assumption Agreement. This Note may not be
assigned by the Holder without the prior written consent of Maker. 

[Remainder
of Page Intentionally Left Blank] 

7

 

        IN
WITNESS WHEREOF, the Maker has executed and delivered this Note as of the date first set forth above. 

	 	 	INFORMATION SERVICES EXTENDED, INC.
	

 	
 	

By:	

/s/  EDGAR DOWNS      
 Name: Edgar Downs

Title: President and Chief Executive Officer

8

 
Schedule to Form of Secured Convertible Promissory Note Payable to Search Mezzanine Investors LLC

	Name
 
	 	Note Amount
	 	Date

	Search Mezzanine Investors LLC	 	$	4,058,252.00	 	May 19, 2005
	Search Mezzanine Investors LLC	 	$	1,349,514.56	 	June 30, 2005
	Search Mezzanine Investors LLC	 	$	281,553.43	 	August 2, 2005

9

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Exhibit 4.14  

THIS SECURED CONVERTIBLE PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (the "ACT"). NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN
COMPLIANCE WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE PAYEE SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED
UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.

 
 

SECURED CONVERTIBLE PROMISSORY NOTE    
    

	$10,000,000.00	 	April 14, 2005

Denver, Colorado

        FOR VALUE RECEIVED, APTAS, INC., a Delaware corporation
("Company"), hereby promises to pay to YP WEB PARTNERS, LLC, a Louisiana limited liability company
("Payee"), in lawful money of the United States of America and in immediately available funds, the principal sum of Ten Million Dollars ($10,000,000)
(the "Original Face Amount") together with accrued and unpaid interest thereon, each due and payable on the dates, in the manner, and subject to the
terms and conditions set forth below. The "Unconverted Face Amount" shall mean an amount equal to $10,000,000 less (i) all cash principal
payments to Payee pursuant to Section 1.2 of this Note, (ii) the portion of the principal amount of this Note that has been converted into Company common stock pursuant to
Section 1.2 of this Note and (iii) the portion of the principal amount of this Note that has been converted into Company common
stock pursuant to Section 8 of this Note. The "Outstanding Principal Amount" shall mean an amount equal to the Reduced Original Face Amount
calculated in accordance with Section 1.1 of this Note less (i) all cash payments to Payee pursuant to Section 1.2 of this Note, (ii) the portion of the principal amount of
this Note converted into Company common stock pursuant to Section 1.2 of this Note and (iii) the portion of the principal amount of this Note that has been converted into Company common
stock pursuant to Section 8 of this Note. 

        This
Promissory Note (the "Note") is the Note referred to in and is executed and delivered in connection with that certain Asset Purchase
Agreement dated as of even date herewith executed by Company, the Payee and the Members (as defined therein) (as the same may from time to time be amended, modified or supplemented or restated, the
"Purchase Agreement"). Additional rights and obligations of Payee are set forth in the Purchase Agreement. All capitalized terms used herein and not
otherwise defined herein shall have the respective meanings given to them in the Purchase Agreement. 

        1.    Reduction of Original Face Amount; Principal Repayment.    

        1.1    Reduction of Original Face Amount.    If the Payee Assets (as
defined in Exhibit A hereto) fail to generate in calendar year 2005 the Minimum Race specified in  Exhibit A hereto, the Original Face Amount
shall, retroactively as of the date of this Note, be reduced to an amount equal to the product of:
(x) $10,000,000 multiplied by (y) the Actual Race for calendar year 2005, calculated in accordance with Exhibit Aannexed hereto,
divided by the Target Race specified in Exhibit A hereto (the "Reduced Original Face Amount").
The date of such calculation, which shall occur on the third day after the date on which the calculation of Actual Race for calendar 2005 is final as provided in  Exhibit A hereto, is hereinafter
referred to as the "Principal Reduction Date." The calculation
of accrued interest hereon shall be correspondingly adjusted. If such calculation indicates that Company paid excess interest, Company shall be entitled to deduct the excess interest from the next
interest or principal payment due hereunder. Any reduction in the Original Face Amount pursuant to the foregoing shall be treated by the parties to the Purchase Agreement as a reduction to the
purchase price described in Section 1.2 of the Purchase Agreement. 

        1.2    Principal Repayment.    The Outstanding Principal Amount or the
Unconverted Face Amount, as applicable, shall be due and payable as provided in this Section 1.2. For purposes of 

 

this
Note, an Installment Date shall be (i) the earlier of (a) May 1, 2006 or (b) the one-year anniversary of the closing of an underwritten public offering
pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Act"), covering the offer and sale of the Company's
common stock (an "IPO") and (ii) each of the first and second anniversaries of the date referred to in clause (i) above;  provided that, in
no event will the first Installment Date occur prior to the Principal Reduction Date. Notwithstanding the
foregoing, if, pursuant to the preceding sentence, the first Installment Date is to occur prior to the later of (A) the expiration of the
Lock-Up Period or (B) the earlier to occur of (i) the first date on which Conversion Shares (as defined below) to be issued to Payee on the applicable Installment Date may be
sold under Rule 144 under the Act or (ii) the S-3 Eligibility Date (as defined in Section 4 of this Note) (such date determined in accordance with clauses
(A) and (B) is referred to herein as the "Deferred Date"), the first Installment Date, at the election of the Payee, shall instead take
place on the latest of (i) May 1, 2006, (ii) the Principal Reduction Date, or (iii) that certain date which is fifteen days after the Deferred Date, and each subsequent
Installment Date shall occur on the first and second anniversaries of such date. The "Maturity Date" is the date of the last Installment Date. At least ten days prior to each Installment Date, Payee
shall deliver notice to the Company (an "Election") indicating whether it desires (i) to be paid the Applicable Cash Payment (as defined below)
(the "Cash Payment Option") or (ii) to receive the Conversion Shares (as defined below) (the "Share Conversion
Option"). If Payee elects the Cash Payment Option, Company shall pay the Applicable Cash Payment on the applicable Installment Date. If Payee elects the Share Conversion
Option, the Company shall deliver to Payee as soon as practicable following the applicable Installment Date, but in no event later than five business days thereafter, a certificate representing a
number of shares of Company common stock equal to the Conversion Shares. If Payee fails to timely notify Company of its election prior to each applicable Installment Date, Payee shall be deemed to
have elected the Share Conversion Option and the Company shall deliver to Payee a stock certificate representing a number of shares of Company common stock equal to the Conversion Shares. The
S-3 Availability Date with respect to the sale of any Conversion Shares issuable pursuant to this Section 1.2 shall not be later than thirty (30) days following the later of
the date of the Election or the Installment Date. 

        For
purposes of this Agreement, the "Conversion Shares" shall mean (i) on the first Installment Date, one-third of the
Unconverted Face Amount outstanding on the First Installment Date, together with accrued and unpaid interest on such Unconverted Face Amount, converted into Company's common stock pursuant to the
formula described in Section 8.1 (the "Conversion Formula"); (ii) on the second Installment Date, one-half of the Unconverted
Face Amount outstanding on the second Installment Date, together with accrued and unpaid interest on such Unconverted Face Amount, converted into Company's common stock in accordance with the
Conversion Formula; and (iii) on the third Installment Date, the Unconverted Face Amount outstanding on the third Installment Date, together with accrued and unpaid interest on such Unconverted
Face Amount, converted into Company's common stock in accordance with the Conversion Formula. 

        For
purposes of this Agreement, the "Applicable Cash Payment" shall mean (i) on the first Installment Date, one-third
of the Outstanding Principal Amount outstanding on the first Installment Date, together with accrued and unpaid interest on such Outstanding Principal Amount; (ii) on the second Installment
Date, one-half of the Outstanding Principal Amount outstanding on the second Installment Date, together with accrued and unpaid interest on such Outstanding Principal Amount; and
(iii) on the third Installment Date, the Outstanding Principal Amount outstanding on the third Installment Date, together with accrued and unpaid interest on such Outstanding Principal Amount. 

        Sections
8.3 through 8.7 shall apply to each conversion of this Note pursuant to the Share Conversion Option. 

2

 

        2.    Interest Rate.    Company further promises to pay interest on the Outstanding Principal Amount hereof from the
date hereof until payment in full, which interest shall be payable at the rate of eight percent (8%) per annum. Except as provided in Sections 1.2, 8.1 and 8.2, interest payments hereunder
shall be due and payable in cash quarterly in arrears within thirty (30) days following the end of each calendar quarter, commencing with the first calendar quarter of 2005, pro rated for
partial periods. Prior to the IPO, at Company's election, interest payments hereunder may be made in lieu of cash by issuing to Payee a number of shares of Company common stock as equals
(i) the amount of interest due and payable upon this Note divided (ii) by the fair market value of one share of Company common stock, as determined in good faith by the Board of
Directors of the Company, which, for purposes of this Note, shall equal the exercise price of incentive stock options granted by the Company most recently prior to the applicable interest payment.
Notwithstanding the foregoing, at all times prior to the closing of an IPO, so long as the Payee Assets are generating not less than fifty percent (50%) of the Target Race specified in  Exhibit A
hereto (pro rated over twelve months) for the calendar quarter to which the interest payment applies, the interest payments shall be
made only in cash. Interest shall be calculated on the basis of a 365-day year for the actual number of days elapsed. Upon the occurrence and during the continuance of an Event of Default,
Payee shall have the right by written notice to Company to prospectively increase the interest rate under this Note to be equal to fourteen (14%) percent per annum until such Event of Default is
cured, but in no event to exceed the maximum rate allowed by law on commercial loans. 

        3.    Place of Payment.    All amounts payable hereunder shall be payable at the office of Payee, 3445 North
Causeway Blvd., Metairie, LA, 70002, unless another place of payment shall be specified in writing by Payee. 

        4.    Registration Rights.    In case the Company shall receive from the Payee (or its assigns) a written request or
requests that the Company effect a registration on Form S-3 (or any successor to Form S-3) or any similar short-form registration statement and any
related qualification or compliance with respect to all or a part of the Company common stock issued or issuable upon conversion of this Note, the Company will as soon as practicable (and in any event
not later than the time period specified in the applicable section of this Note relating to the conversion), effect such registration and all such qualifications and compliances as may be so requested
and as would permit or facilitate the sale and distribution of all of the shares of Company common stock as are specified in such request; provided,
however, that the Company shall not be obligated to effect any such registration, qualification or compliance pursuant to this Section 4 if Form S-3
(or any successor or similar form) is not available for such offering by the Payee (or its assigns). The effective date of a registration statement referred to herein is referred to herein as the
"S-3 Availability Date." The date on which the Company is first eligible to file registration statements on Form S-3 is
referred to herein as the "S-3
Eligibility Date." The Payee's (and its assigns') registration rights pursuant to this Section 4 shall expire if (a) the Company has completed its IPO and is
subject to the provisions of the Exchange Act, (b) such Payee (together with its assigns and their respective affiliates, partners and former partners) holds less than 1% of the Company's
outstanding Company common stock and (c) all Shares of Company common stock held by and issuable to such Payee (and its affiliates, partners, former partners, members and former members) may be
sold under Rule 144 during any ninety (90) day period. 

        5.    Application of Payments.    Payment on this Note shall be applied first to accrued interest, and thereafter to
the outstanding principal balance hereof. 

        6.    Secured Note.    The full amount of this Note is secured by the collateral (the
"Collateral") identified and described as security therefor in the Security Agreement of even date herewith (the "Security
Agreement") executed by and delivered by Company to Payee. Company shall not, directly or indirectly, create, permit or suffer to exist, and shall defend the Collateral against
and take such other action as is necessary to remove, any Lien (as defined in the Security Agreement) on or in the Collateral, or in any portion thereof, except as permitted pursuant to the Security
Agreement. Payee 

3

 

shall
release its lien on the Collateral upon delivery by Company to a restricted account acceptable to Payee, in its reasonable discretion and over which Payee has a first lien and security interest,
of cash collateral in an amount equal to the then Outstanding Principal Amount and all accrued but unpaid interest on this Note. 

        7.    Set off.    All payments to be made under this Note shall be subject to setoff under the terms and conditions
set forth in Section 5 of the Purchase Agreement. Any such setoffs shall be applied first to accrued interest and thereafter to installments of unpaid principal in the order of their maturity
commencing with the earliest such installment. 

        8.    Conversion.    

        8.1    Optional Conversion (Payee).    At any time beginning on the
later of (x) the first anniversary of the date of this Note and (y) the Deferred Date, and ending on the Maturity Date, the Unconverted Face Amount, including all accrued and unpaid
interest thereon, shall be convertible, in whole or in part, at the option of the Payee into that number of shares of the Company's common stock equal to the number obtained by dividing the portion of
the Unconverted Face Amount that is to be converted into Company common stock, plus all accrued and unpaid interest thereon, by the initial price per share of the Company's common stock (prior to any
underwriter discount) (the "IPO Price") paid in the IPO as adjusted as provided in this Section 8 (the "Conversion
Price"); provided, however, that this Note may not be converted pursuant to this Section 8.1 at any time following notice
of any claim for indemnification pursuant to Section 5 of the Purchase Agreement unless Payee deposits with an escrow agent reasonably acceptable to Company a number of shares of Company common
stock having a fair market value
equal to one hundred ten percent (110%) of the amount of such claim in accordance with an escrow agreement reasonably acceptable to the Company and the Payee. The S-3 Availability Date
with respect to any conversion effected pursuant to this Section 8.1 shall not be later than thirty (30) days following the surrender of the Note pursuant to Section 8.3 below. 

        8.2    Optional Conversion (Company).    Provided this Note has not
earlier been converted pursuant to Section 8.1 above, if, at any time beginning on the later of (x) the first anniversary of the date of this Note and (y) the Deferred Date, and
ending on the Maturity Date, the Company shall complete an IPO and, for twenty (20) consecutive trading days following the last day of the Lock-Up Period, the closing price of the
Company's common stock, as quoted on the Nasdaq National Market, the New York Stock Exchange, the American Stock Exchange or any similar nationally recognized stock exchange or automated quotation
system and reported in The Wall Street Journal, equals not less than one hundred fifty percent (150%) of the IPO Price, then the entire Unconverted Face
Amount, plus all accrued and unpaid interest thereon, shall, at the election of the Company and upon written notice to the Payee, convert into Company common stock at the Conversion Price in
accordance with the Conversion Formula, without any further action on the part of the Payee; provided, however, that this Note may not be converted
pursuant to this Section 8.2 at any time following notice of any claim for indemnification pursuant to Section 5 of the Purchase Agreement unless Payee deposits with an escrow agent
reasonably acceptable to Company a number of shares of Company common stock having a fair market value equal to one hundred ten percent (110%) of the amount of such claim in accordance with an escrow
agreement reasonably acceptable to the Company and the Payee. The S-3 Availability Date with respect to any conversion effected pursuant to this Section 8.2 shall not be later than
the date of the surrender of the Note pursuant to Section 8.3 below. 

        8.3    Mechanics and Effect of Conversion.    No fractional shares of
Company's capital stock will be issued upon conversion of this Note. In lieu of any fractional share to which Payee would otherwise be entitled, Company will pay to Payee in cash at the Conversion
Price the amount of the unconverted principal and interest balance of this Note that would otherwise be converted into 

4

 

such
fractional share. Upon conversion of this Note pursuant to Sections 1.2, 8.1 or 8.2, Payee shall surrender this Note, duly endorsed, at the principal office of the Company or any transfer
agent of the Company. At its expense, the Company will no later than the third day after receipt of this Note, issue and deliver to Payee, at such principal office, a certificate or certificates for
the number of shares to which Payee is entitled upon such conversion, together with any other securities and property to which Payee is entitled upon such conversion under the terms of this Note,
including a check payable to Payee for any fractional share. 

        8.4    Adjustments to the Conversion Price.    Upon the occurrence of
any of the following events prior to the conversion of this Note, the Conversion Price shall be adjusted as provided below: 

        (a)    Adjustment for Stock Splits and
Combinations.    If Company shall at any time or from time to time after the date hereof effect a subdivision of the outstanding shares of Company's common stock,
then
the Conversion Price then in effect immediately before such subdivision shall be proportionately decreased; conversely, if Company shall at any time or from time to time after the date hereof reduce
the outstanding shares of Company's common stock by combination or otherwise, the Conversion Price then in effect immediately before the combination shall be proportionately increased. Any adjustment
under this Section 8.4(a) shall become effective at the close of business on the date such subdivision or combination becomes effective. 

        (b)    Adjustment for Certain Dividends and
Distributions.    In the event Company at any time or from time to time after the date hereof shall make or issue, or fix a record date for the determination of
holders of shares of Company's common stock entitled to receive, a dividend or other distribution payable in additional shares of Company's common stock, then and in each such event the Conversion
Price then in effect shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the
Conversion Price then in effect by a fraction: 

	(1)
	The
numerator of which shall be the total number of shares of Company's common stock issued and outstanding immediately prior to the time of such issuance or the close of business on
such record date, and

	(2)
	The
denominator of which shall be the total number of shares of Company's common stock issued and outstanding immediately prior to the time of such issuance or the close of business
on such record date, plus the number of shares of Company's common stock issuable in payment of such dividend or distribution; provided, however, if such record date shall have been fixed and such
dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Conversion Price shall be recomputed accordingly as of the close of business on such record date
and thereafter the Conversion Price shall be adjusted pursuant to this Section 8.4(b)(2) as of the time of actual payment of such dividends or distributions. 

        (c)    Adjustments for Other Dividends and
Distributions.    In the event Company at any time or from time to time after the date hereof shall make or issue, or fix a record date for the determination of
holders of shares of Company's common stock entitled to receive, a dividend or other distribution payable in securities of Company other than shares of Company's common stock, then and in each such
event provision shall be made so that the Payee shall receive upon conversion of this Note in addition to the number of shares of Company's common stock receivable thereupon, the amount of securities
of Company that the Payee would have received had this Note been converted into shares of Company's common stock on the date of such event and had thereafter, during the period from the date of such 

5

 

event
to and including the conversion date, retained such securities receivable by the Payee as aforesaid during such period giving application to all adjustments called for during such period under
this Section 8.4(c) with respect to the rights of the Payee. 

        (d)    Adjustment for Reclassification, Exchange or
Substitution.    If the shares of Company's common stock issuable upon the conversion of this Note shall be changed into the same or a different number of shares of
any class or classes of stock, whether by capital reorganization, reclassification, exchange, substitution or otherwise (other than a subdivision or combination of shares or stock dividend, or a
reorganization, merger, consolidation or sale of assets provided for in Section 8.4(e)), then and in each such event the Payee shall thereafter be entitled to receive, upon conversion of this
Note, the kind and amounts of shares of stock and other securities and property receivable upon such reorganization, reclassification, exchange, substitution, or other change, by a holder of the
number of shares of Company's common stock deliverable upon conversion of this Note immediately prior to such reorganization, reclassification, exchange, substitution or change, all subject to further
adjustment as provided herein. 

        (e)    Reorganizations, Mergers, Consolidations or Sales of
Assets.    If at any time or from time to time there shall be a capital reorganization of the shares of Company's common stock (other than a subdivision, combination,
reclassification, or exchange of shares provided for in Section 8.4(d)) or a merger or consolidation of Company with or into another corporation or other entity, or the sale of all or
substantially all of Company's assets to any other entity or person, then, as a part of such reorganization, merger, consolidation or sale, provision shall be made so that the Payee shall thereafter
be entitled to receive upon conversion of this Note the number of shares of Company's common stock or other securities or property of Company, or the successor entity resulting from such merger or
consolidation or sale, to which a holder of that number of shares of Company's common stock deliverable upon conversion of this Note immediately prior to such capital reorganization, merger,
consolidation, or sale would have been entitled on such capital reorganization, merger, consolidation, or sale. In any such case, appropriate adjustment shall be made in the application of the
provisions of this Section 8.4 with respect to the rights of the Payee after the capital reorganization, merger, consolidation or sale to the end that the provisions of this Section 8.4
(including adjustment of the Conversion Price then in effect and the number of shares deliverable upon conversion of this Note) shall be applicable after that event as nearly equivalent as may be
practicable. 

        (f)    Notice of Adjustment.    In each case
of adjustment or readjustment of the Conversion Price for the number of shares of Company's common stock or other securities issuable upon conversion of this Note, Company, within five days of each
such adjustment or readjustment, shall notify in writing Payee of such adjustment or readjustment and shall provide in such notice a calculation in reasonable detail of such adjustment or
readjustment. 

        (g)    Notices of Record Date.    In the event
of (i) any taking by Company of a record of the holders of any class or series of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other
distribution or (ii) any reclassification, recapitalization, exchange or substitution of the capital stock of Company, any merger or consolidation of Company, or any transfer of all or
substantially all of the assets of Company to any other entity or person, or any voluntary or involuntary dissolution, liquidation or winding up of the affairs of Company, Company shall mail to the
Payee at least 10 days prior to the record date specified therein, a notice specifying (A) the date on which any such record is to be taken for the purpose of such dividend or
distribution and a description of such dividend or distribution, (B) the date on which any such reorganization, reclassification, exchange, substitution, transfer, consolidation, merger,
dissolution, liquidation or winding up is expected to become effective, and (C) at the time, if any is to be fixed, as to when the holders 

6

 

of
record of shares of Company's common stock (or other securities) shall be entitled to exchange their shares of Company's common stock (or other securities) for securities or other property
deliverable upon such reorganization, reclassification, exchange, substitution, transfer, consolidation, merger, dissolution, liquidation or winding up. 

        8.5    Reservation of Stock Issuable Upon Conversion.    Company shall
at all times reserve and keep available out of its authorized but unissued shares of Company's common stock, solely for the purpose of effecting the conversion of this Note, such number of its shares
of Company's common stock as shall from time to time be sufficient to effect the conversion of this Note. As a condition precedent to the taking of any action which would cause an adjustment to the
Conversion Price, Company will take such corporate action as may, after consulting with its counsel, be necessary to increase its authorized but unissued shares of Company's common stock to such
number of shares as shall be sufficient in order that it may validly and legally issue the shares of its Company's common stock issuable based upon such adjusted Conversion Price. 

        8.6    Payment of Taxes.    Company will pay all taxes and other
governmental charges (other than taxes measured by the revenue or income of the Payee) that may be imposed in respect to the issue or delivery of shares of Company's common stock upon conversion of
this Note. 

        8.7    Hart-Scott-Rodino.    Notwithstanding any provision
to the contrary herein, this Note shall convert only (i) if no filing is required in connection with the conversion in order to comply with the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (a "Required Filing"); or (ii) after a Required Filing has been filed and upon the expiration or termination of any
waiting period required in connection with such Required Filing. 

        9.    Default.    Each of the following events shall be an "Event of
Default" hereunder: 

        9.1    Company fails to pay timely any of the principal due under this Note within five (5) days of the date the same
becomes due and payable or any accrued interest or other amounts due under this Note within five (5) days of the date the same becomes due and payable; 

        9.2    Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any
other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the
foregoing; 

        9.3    An involuntary petition is filed against Company (unless such petition is dismissed or discharged within sixty
(60) days) under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of creditors or other similar official is appointed to take
possession, custody or control of any property of Company; 

        9.4    Company breaches any material representation, warranty or covenant in, or fails to perform any material obligations
under, this Note or the Security Agreement, and such breach or failure is not cured within thirty (30) days following written notice of such breach or failure delivered by Payee to Company; 

        9.5    Company defaults in the payment of any amounts or in the performance of any obligations contained in any credit
agreement, promissory note, lease or other agreement relating to any indebtedness of Company to any person (other than under this Note) in excess of $250,000, and any grace period applicable to such
default has elapsed; 

        9.6    Judgment for the payment of money in excess of $250,000 (which is not covered by insurance) is rendered by any court or
other governmental body against Company, and Company does not discharge the same or procure a stay of execution thereof within thirty (30) days from the date of entry thereof, and within such
30-day period (or such longer period during which execution of such judgment shall have been stayed) Company does not appeal therefrom and cause the 

7

 

execution
thereof to be stayed during such appeal while providing such reserve therefor as may be required under generally accepted accounting principles; or 

        9.7    Company breaches any material representation, warranty or covenant in, or fails to perform any material obligation under,
the Purchase Agreement, and such breach or failure is not cured within thirty (30) days following written notice of such breach or failure delivered by Payee to Company, and such uncured breach
or failure has, or will have, a material adverse effect on the Company and its subsidiaries taken as a whole. 

        Upon
the occurrence of an Event of Default hereunder, all unpaid principal, accrued interest and other amounts owing hereunder shall, at the option of Payee, and, in the case of an Event
of Default pursuant to 9.2 or 9.3 above, automatically, be immediately due, payable and collectible by Payee pursuant to applicable law. 

        10.    Market Stand-Off Agreement.    Payee shall not sell, dispose of, transfer, make any short sale of,
grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Company common stock (or other securities of the Company) held by
Payee, for a period of time specified by the managing underwriter(s) (not to exceed one hundred eighty (180) days) following the effective date of the registration statement of the Company
filed under the Act in connection with the IPO (referred to herein as the "Lock-Up Period"). Payee agrees to execute and deliver such other
agreements as may be reasonably requested by the Company and/or the managing underwriter(s) which are consistent with the foregoing or which are necessary to give further effect thereto. In order to
enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to such Common Stock (or other securities) until the end of such period. The underwriters of
the Company's stock are intended third party beneficiaries of this Section 10 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 

        11.    Waiver.    Company waives presentment and demand for payment, notice of dishonor, protest and notice of protest
of this Note, and shall pay all costs of collection when incurred, including, without limitation, reasonable attorneys' fees, costs and other expenses. 

        The
right to plead any and all statutes of limitations as a defense to any demands hereunder is hereby waived to the full extent permitted by law. 

        Any
term, covenant, agreement or condition of this Note may, only with the written consent of the Company and Payee, be amended or compliance therewith may be waived (either generally or
in a particular instance and either retroactively or prospectively), altered, modified or amended. 

        12.    Governing Law.    This Note shall be governed by, and construed and enforced in accordance with, the laws of
the State of Colorado, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

        13.    Non-Negotiable; Transfer; Successors and Assigns.    THIS NOTE IS
NON-NEGOTIABLE. Payee may not assign or otherwise transfer this Note without the prior written consent of Company, which shall not be unreasonably withheld or
delayed, provided, however, that the Payee of this Note may assign or otherwise transfer this Note without the consent of Company to the Members in accordance with their respective membership
interests in the Payee. Subject to the foregoing, the 

8

 

provisions
of this Note shall inure to the benefit of and be binding on any successor to Company and shall extend to any holder hereof. 

	COMPANY	APTAS, INC.	 
	

 	

 	

 	

 
	 	By:	/s/ Perry Evans

	 	Printed Name:	Perry Evans

	 	Title:	CEO

[SIGNATURE PAGE TO CONSIDERATION NOTE]

9

 

ACCEPTED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN:  

	YP WEB PARTNERS, LLC	 	 
	

 	

 	

 	
 	

 
	By:	/s/ Donald F. Jones
	 	 
	Printed Name:	Donald F. Jones
	 	 
	Title:	President
	 	 

[Signature Page Consideration Note] 

10

   EXHIBIT A  

REVENUE AFTER CERTAIN EXPENSES ("RACE") CALCULATION  

        All revenues and certain expenses (as detailed below), as identified in the Payee's historical financial statements attached hereto as  Exhibit A-1 (the "Historical Financials"), will be utilized as follows in arriving at
Revenue After Certain Expenses for calendar year 2005 ("Actual Race"). Sales booked in 2005 and collected on or prior to February 15, 2006 shall
be included in the calculation of Actual Race. On or prior to February 28, 2006, Company will prepare or cause to be prepared a statement setting forth in reasonable detail the method of
calculating Actual Race, which shall be in accordance with the methodology used in Payee's Historical Financials, and shall deliver or cause to be delivered to Payee such statement (the
"Actual Race Statement"). In the event that revenues are received in respect of products or services that include both the Assets (as defined in the
Purchase Agreement) and products or services of Aptas or ISx, the Payee shall calculate, in good faith, the amount of such revenues attributable to the Assets, and shall include such calculation as an
attachment to the Actual Race Statement. In the event that Payee objects to Company's calculation of the Actual Race, then, within 30 days after the delivery to Payee of the Actual Race
Statement, Payee shall deliver to Company a notice describing in reasonable detail Payee's objection to Company's calculation (an "Objection Notice"),
accompanied by a statement setting forth the dollar amount determined by Payee to represent the Actual Race or a request for additional information from Company that Payee may require in order to
determine the Actual Race. If Payee does not deliver an Objection Notice to Company within the 30-day period referred to in the preceding sentence, then the Company's calculation of Actual
Race shall be binding and conclusive on Company and Payee. If Payee delivers an Objection Notice to Company within the 30-day period referred to in this paragraph, and if Payee and Company
are unable to agree upon the calculation of the Actual Race within 60 days after an Objection Notice is delivered to Company, Payee and Company shall select a nationally recognized accounting
firm mutually acceptable to them (the "Neutral Accountant") to resolve any remaining objections, the cost of which shall be paid by the party whose
assertions regarding the amount of the Actual Race differ by the greater amount from the Actual Race determined by the Neutral Accountant. If Company and Payee are unable to select the Neutral
Accountant within 10 days after the commencement of such selection process, the Neutral Accountant shall be KPMG (or its successor) unless Company and Payee agree to another Neutral Accountant
within 15 days of the commencement of the selection process. Payee and Company shall jointly instruct the Neutral Accountant to resolve any unresolved objections within 30 days after
referral of the matter to them, and the determination by 

A-1

 

the
Neutral Accountant of the Actual Race, which shall be made in accordance with this Exhibit A, shall be conclusive and binding on the Company
and Payee absent fraud or manifest error. 

	Revenues From All Sources	 	$	XX
	
Less:	
 	
 	

 
	
Cost of Goods Sold	
 	
 	

 
	 	Hosting/Bandwidth / Portal Content	 	 	‹XX›
	 	Salary Expense Production	 	 	‹XX›
	 	Salary Expense Development	 	 	‹XX›
	 	Salary Expense Customer Service	 	 	‹XX›
	 	CD-ROM Expense	 	 	‹XX›
	 	Programming Expense	 	 	‹XX›
	 	Misc Expense	 	 	‹XX›
	 	Software Expense	 	 	‹XX›
	
Other Operating Expenses:	
 	
 	

 
	 	Equipment Rental	 	 	‹XX›
	 	Office Supplies	 	 	‹XX›
	 	Rent	 	 	‹XX›
	 	Repairs/Maintenance	 	 	‹XX›
	 	Salary—Selling	 	 	‹XX›
	 	Selling Expense	 	 	‹XX›
	 	Computer Software/Hardware	 	 	‹XX›
	 	 	

	
Revenue After Certain Expenses (Actual Race)	
 	
$	

XX
	 	 	

	

Target Race	
 	
$	

5,703,900
	

Minimum Race	
 	
$	

4,703,900

A-2

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