Document:

Unassociated Document

    Exhibit
      4.14

    

    FORBEARANCE
      AGREEMENT

     

    THIS
      FORBEARANCE AGREEMENT (this “Forbearance
      Agreement”)
      is made
      and entered into as of April 2, 2008 by and between Brendan Technologies,
      Inc., a Nevada corporation (the “Company”),
      Brendan Technologies, Inc., a Michigan corporation (the “Guarantor”),
      and
      Little Bear Investments, LLC (the “Agent”).

     

    RECITALS

     

    WHEREAS,
      pursuant to that certain (a) Loan and Security Agreement (the “Loan
      Agreement”),
      dated
      as of July 10, 2007, by and among certain lenders of the Company (each, a
“Lender”,
      and collectively,
      the “Lenders”),
      the
      Agent and the Company, the Company issued to the Lenders (i) secured promissory
      notes, each dated July 10, 2007, in the aggregate principal amount of $600,000
      (the “Notes”),
      and
      (ii) warrants to purchase an aggregate of 600,000 shares (the “Shares”)
      of
      common stock of the Company (the “Common
      Stock”),
      each
      dated July 10, 2007.

     

    WHEREAS,
      pursuant to that certain Subsidiary Guarantee dated July 10, 2007, delivered
      by
      the Guarantor,
      in favor of each Lender, the Guarantor has guaranteed the Company’s obligations
      to the Lenders under the Notes (the “Guarantee”).

     

    WHEREAS,
      pursuant to Section 4(a)(i) of the Notes, if the company fails to pay to the
      Lenders any principal or interest when due an Event of Default (as defined
      in
      the Notes) shall have occurred.

     

    WHEREAS,
      the Company has failed to pay interest to the Lenders and such failure has
      remained ongoing as of February 1, 2008 (the “Default
      Date”)
      and
      therefore Event of Default has occurred.

     

    WHEREAS,
      as of the Default Date, interest on the Notes have been accruing at 22% per
      annum (the “Default
      Rate”)
      in
      accordance with the terms of the Note.

     

    WEREAS,
      pursuant to Section 4(b) of the Notes, upon the occurrence of an Event of
      Default the full principal amount of the Notes together with all accrued
      interest thereon shall become immediately due and payable (the “Right
      of Acceleration”).

     

    WHEREAS,
      the stated maturity date of the Notes is April 10, 2008 (the “Maturity
      Date”).

     

    WHEREAS,
      the Company requests that the Agent waive the Right of Acceleration and extend
      the Maturity Date until June 9, 2008. 

     

    WHEREAS,
      the Agent, as to and on behalf of all Lenders agrees to (i) waive the Right
      of
      Acceleration until June 9, 2008 only in connection with the failure by the
      Company to pay any interest when due and (ii) extend the Maturity Date of the
      Notes until June 9, 2008 in consideration for the offer by the Company to each
      Lender to (i) issue to the Lenders shares of the Company’s Common Stock in
      accordance with Schedule
      I
      attached
      hereto.

     

    WHEREAS,
      pursuant to the Loan Agreement and the Notes, the Agent may waive an Event
      of
      Default on behalf of all the Lenders.

     

    NOW,
      THEREFORE, in consideration of the foregoing and the mutual promises and
      covenants set forth herein, the parties hereby agree as follows:

     

    

    AGREEMENT

     

    A. The
      Company agrees
      that,
      as of
      the close of business on April 1, 2008, the Company was indebted to the Lenders
      in respect of the loans and advances under the Notes in the aggregate principal
      amount of $600,000. All such loans, together with interest accrued and accruing
      thereon, and costs, expenses, fees (including attorneys’ fees and legal
      expenses) and all other charges or amounts now or hereafter payable by the
      Company to the Lenders (collectively, the “Obligations”)
      are
      unconditionally owing by the Company to the Lenders without offset, defense,
      reduction or counterclaim of any kind or nature. The Guarantor hereby
      acknowledges, confirms and agrees that its obligations, liabilities and
      indebtedness to the Lenders for the payment and performance of the Obligations
      are unconditionally owing to the Lenders without offset, defense reduction
      or
      counterclaim of any kind or nature, that the terms of the Guarantee shall remain
      in full force and effect and that nothing herein shall constitute a waiver
      of
      any of Lenders’ rights or remedies contained in the Guarantee.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    B. The
      Company and the Guarantor hereby acknowledge, confirm and agree that the Lenders
      have and shall continue to have valid, enforceable and perfected liens upon
      and
      security interests in the assets and properties of the Company and the Guarantor
      pursuant to the Loan Agreement and the Guarantee.

    

    C. In
      reliance upon the representations, warranties and covenants of the Company
      and
      the Guarantor contained in this Forbearance Agreement, and subject to the terms
      and conditions of this Forbearance Agreement, the Agent, on behalf of each
      Lender, hereby agrees to (i) waive the Right of Acceleration under Section
      4(b)
      of the Notes until June 9, 2008 only in connection with the failure by the
      Company to pay any interest when due and (ii) extend the maturity date of the
      Notes until June 9, 2008; provided
      that: (a)
      immediately upon receipt by the Company of the Acknowledgement (as defined
      herein) from a Lender the Company shall issue to such Lender that number of
      shares of Common Stock of the Company set forth on Schedule
      I
      attached
      hereto (b) the Company acknowledges that as of the Default Date, interest on
      the
      Notes have been accruing at 22% per annum in accordance with the terms of the
      Notes and (c) interest on the Notes shall continue to accrued at the Default
      Rate until the Notes are paid back in full.

    

    D. Except
      for the express waiver contained in Section C of this Forbearance Agreement,
      the
      Agent has not waived, is not by this Forbearance Agreement waiving, has no
      intention of waiving and may never waive, any Events of Default which may have
      occurred or are continuing on the date hereof or any Events of Default which
      may
      occur after the date hereof and nothing contained herein or the transactions
      contemplated hereby shall be deemed to constitute any such waiver. 

    

    E. The
      Company and the Guarantor hereby represent and warrant to the Lenders as
      follows:

    

    (i)
       The
      execution, delivery and performance of this Forbearance Agreement by the Company
      and the Guarantor have been duly authorized by all necessary corporate
      action.

    

    (ii) This
      Forbearance Agreement constitutes a valid and legally binding agreement
      enforceable against the Company and the Guarantor in accordance with its
      terms.

    

    (iii) All
      of
      the Obligations under the Loan Agreement, the, the Guarantee and
      the
      Notes (collectively, the “Loan
      Documents”)
      constitute valid and legally binding obligations of the Company and/or the
      Guarantor, as applicable, enforceable against the Company and/or the Guarantor
      in accordance with the terms thereof.  

    

    (iv)
       Except
      as
      set forth herein, the Loan Documents shall continue to be and shall remain
      unchanged and in full force and effect in accordance with their
      terms.

    

    (v) Except
      as
      described in this Forbearance Agreement, no Event of Default has occurred under
      the Loan Documents and no event has occurred which with notice or lapse of
      time
      or both would become an Event of Default under the Loan Documents.

    

    (vi) The
      execution and delivery and performance of this Forbearance Agreement by the
      Company and the Guarantor will not violate any agreement, instrument or
      undertaking by which such party is bound, will not result in, or require, the
      creation or imposition of any lien, charge, security interest or other
      encumbrance on any of such parties properties or assets, and does not contravene
      any law, rule or regulation applicable to such party.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    F. Nothing
      herein shall be deemed to establish a course of dealing or operate as a waiver
      of any rights in the Loan Documents except as expressly set forth herein and
      the
      execution and delivery of this Forbearance Agreement shall not create any
      obligation on behalf of the Agent to waive any provisions under the Loan
      Documents at any time in the future, such rights being expressly reserved
      hereunder.

    

    G. In
      the
      event of any default by the Company under this Forbearance Agreement, all
      outstanding Obligations payable by Company under the Notes shall automatically
      be immediately due and payable without presentment, demand, protest or any
      other
      notice of any kind, all of which are hereby expressly waived.

    

    H. Each
      party shall pay all costs and expenses that it incurs with respect to the
      negotiation, execution, delivery and performance of this Forbearance
      Agreement.

    

    I. The
      provisions of this Forbearance Agreement are intended to be severable. If any
      provisions of this Forbearance Agreement shall be held invalid or unenforceable
      in whole or in part in any jurisdiction, such provision shall, as to such
      jurisdiction, be ineffective to the extent of such invalidity or enforceability
      without in any manner affecting the validity or enforceability of such provision
      in any other jurisdiction or the remaining provisions of this Forbearance
      Agreement in any jurisdiction.

    

    J. This
      Forbearance Agreement shall be governed by, and construed and interpreted in
      accordance with, the law of the State of Nevada, without giving effect to the
      choice of law principles thereof.

    

    K. This
      Forbearance Agreement may be executed in one or two counterparts, each of which
      shall be deemed an original and all of which taken together shall constitute
      one
      and the same agreement. Any signature delivered by a party by facsimile
      transmission shall be deemed to be an original signature hereto.

    

    L. Prior
      to
      the issuance to the Lenders of the Common Stock in the amounts as set forth
      on
SCHEDULE
      I,
      the
      Company shall send to each Lender for his acknowledgment the statement on
SCHEDULE
      II
      hereto
      (the “Acknowledgment”).
      Immediately upon receipt by the Company of the Acknowledgement from a Lender,
      the Company shall issue the amount of Common Stock as set forth on SCHEDULE
      I to
      such Lender. The Company shall send the Acknowledgment to each Lender within
      1
      business day after the execution of this Forbearance Agreement via overnight
      courier. 

     

    

      [SIGNATURE
        PAGE TO FOLLOW]

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, this Forbearance Agreement has been duly executed as of the
      date first above written.

     

    

    
      	 	
              COMPANY

            
	 	 
	 	
              BRENDAN
                TECHNOLOGIES, INC., a Nevada corporation

            
	
               
                

            	 
	
               
                

            	
               
                

            
	
               
                

            	
              By:
                

            	
               
                

            
	
               
                

            	
              Name:
                

            	 
	 	
              Title:

            	 
	 	 	 
	 	 	 
	 	
              GUARANTOR

            
	 	 
	 	
              BRENDAN
                TECHNOLOGIES, INC., a Michigan corporation

            
	 	 	 
	 	 	 
	 	 	 
	 	
              By:
                

            	
               
                

            
	 	
              Name:

            	 
	 	
              Title:

            	 
	 	 	 
	 	
              AGENT

            
	 	 
	 	
              LITTLE
                BEAR INVESTMENTS, LLC,
                as agent for the Lenders

            
	 	 	 
	 	
               
                

            	 
	 	
               
                

            	 
	 	
              By:
                

            	
               
                

            
	 	
              Name: 
                

            	 
	 	
              Title:

            	 

    

     

    
      
         

      

      
        4EMVELCO
      CORP.

    Subscription
      Agreement

    

    EMVELCO
      CORP.

    1061
1⁄2
N.
      Spaulding Ave.

    Los
      Angeles, CA 90046

    

    Gentlemen:

    

    You
      have
      informed the undersigned (the “Purchaser”) that Emvelco Corp., a Delaware
      corporation, (the “Company”) wishes to raise a minimum of Fifty Thousand Dollars
      ($50,000) and a maximum of Two Hundred Thousand Dollars ($200,000) from various
      persons by selling up to 200,000 shares of the Company’s Common Stock, $0.001
      par value (the “Shares”), at a price of One Dollar ($1.00) per Share. Each
      Offering Unit will be issued with two (2) times 200,000 convertible Warrants.
      Specifically, 200,000 of the Warrants are convertible upon exercise to one
      (1)
      Common Share of stock at $1.50 per share for a term of two (2) years. The other
      200,000 of the Warrants are convertible upon exercise to one (1) Common Share
      of
      stock at $2.00 per share for a term of four (4) years. Notwithstanding the
      foregoing, however, the Warrants may be converted to Common Shares only if
      EMVELCO issues Twenty-Five Million (25,000,000) or more of its Common Stock
      so
      that there are at least Thirty Million (30,000,000) authorized Shares at the
      time of any conversion term. 

    

    I
      have
      received, read, and understand the Limited Offering Memorandum dated
      February 20, 2008 (the “Memorandum”). I further understand that my rights
      and responsibilities as a Purchaser will be governed by the terms and conditions
      of this Subscription Agreement, the Memorandum and the Shares (the “Share
      Documents”). I understand that you will rely on the following information to
      confirm that I am an “Accredited Investor”, as defined in Regulation D
      promulgated under the Securities Act of 1933, as amended (the “Securities Act”),
      or one of 35 Non-Accredited Investors that will be allowed to purchase Shares
      in
      this Offering (subject to Company approval), and that I am qualified to be
      a
      Purchaser.

    

    This
      Subscription Agreement is one of a number of such subscriptions for Shares.
      By
      signing this Subscription Agreement, I offer to purchase and subscribe from
      the
      Company the number of Shares set forth below on the terms specified herein.
      The
      Company reserves the right, in its complete discretion, to reject any
      subscription offer or to reduce the number of Shares allotted to me. If this
      offer is accepted, the Company will execute a copy of this Subscription
      Agreement and return it to me. I understand that commencing on the date of
      this
      Memorandum all funds received by the Company in full payment of subscriptions
      for Shares will be deposited in an escrow account. The Company has set a minimum
      offering proceeds figure of $50,000 for this Offering. All proceeds from the
      sale of Shares will be delivered directly to the Company and be available for
      its use.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    1.
      Accredited
      Investor.
      I am an
      Accredited Investor because I qualify within one of the following
      categories:

    

    Please
      Check The Appropriate Category

    

    
      	
               

            	 	
              $1,000,000
                Net Worth.

            

    

    A
      natural
      person whose individual net worth, or joint net worth with that person’s spouse,
      at the time of his purchase exceeds $1,000,000.

    

    
      	 	
              ______________

            
	 	
              Purchaser’s
                Initials

            

    

    

    
      	
               

            	 	
              $200,000/$300,000
                Income.

            

    

    A
      natural
      person who had an individual income in excess of $200,000 (including
      contributions to qualified employee benefit plans) or joint income with such
      person’s spouse in excess of $300,000 per year in each of the two most recent
      years and who reasonably expects to attain the same individual or joint levels
      of income (including such contributions) in the current year.

      

    
      	
               

            	 	
              Director
                or Officer of Issuer.

            

    

    Any
      director or executive officer of the Company

    

    
      	
               

            	 	
              All
                Equity Owners In Entity Are
                Accredited.

            

    

    An
      entity, (i.e. corporation, partnership, trust, IRA, etc.) in which all of the
      equity owners are Accredited Investors as defined herein.

    

    
      	
               

            	 	
              Corporation.

            

    

    A
      corporation not formed for the specific purpose of acquiring the Shares offered,
      with total assets in excess of $5,000,000.

    

    
      	
               

            	 	
              Other
                Accredited Investor.

            

    

    Any
      natural person or entity which qualifies as an Accredited Investor pursuant
      to
      Rule 501(a) of Regulation D promulgated under the Act; specify basis for
      qualification:

    

    
      	 

	 
	 

	 
	 

    

    

    
      	
               

            	 	
              One
                of 35 Non-Accredited Investors that may be allowed to invest in the
                offering 

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.
      Representations
      and Warranties.
      I
      represent and warrant to the Company that:

    

    (a)
      I (i)
      have adequate means of providing for my current needs and possible contingencies
      and I have no need for liquidity of my investment in the Shares, (ii) can bear
      the economic risk of losing the entire amount of my investment in Shares, and
      (iii) have such knowledge and experience that I am capable of evaluating the
      relative risks and merits of this investment; (iv) the purchase of Shares is
      consistent, in both nature and amount, with my overall investment program and
      financial condition. 

     

    
      (a)
The
        address set forth below is my true and correct residence, and I have no
        intention of
        becoming a resident of any other state or jurisdiction.

    

     

    
      (b)
I
        have
        not utilized the services of a “Purchaser Representative” (as defined
        in Regulation
        D promulgated under the Securities Act) because I am a sophisticated,
        experienced investor, capable of determining and understanding the risks
        and
        merits of this investment.

    

    

    
      	 	
              ______________

            
	 	
              Purchaser’s
                Initials

            

    

     

    (d)
      I
      have received and read, and am familiar with the Share Documents, including
      the
      Memorandum and the forms of certificate for Shares. All documents, records
      and
      books pertaining to the Company and the Shares requested by me, including all
      pertinent records of the Company, financial and otherwise, have been made
      available or delivered to me.

    

    (e)
      I
      have had the opportunity to ask questions of and receive answers from the
      Company’s officers and representatives concerning the Company’s affairs
      generally and the terms and conditions of my proposed investment in the
      Shares.

    

    (f)
      I
      understand the risks implicit in the business of the Company. Among other
      things, I understand that there can be no assurance that the Company will be
      successful in obtaining the funds necessary for its success. If only a fraction
      of the maximum amount of the Offering is raised, the Company may not be able
      to
      expand as rapidly as anticipated, and proceeds from this Offering may not be
      sufficient for the Company’s long term needs.

    

    (g)
      Other
      than as set forth in the Memorandum, no person or entity has made any
      representation or warranty whatsoever with respect to any matter or thing
      concerning the Company and this Offering, and I am purchasing the Shares based
      solely upon my own investigation and evaluation.

    

    
      
        (h)
          I
          understand that no Shares have been registered under the Securities Act, nor
          have they
          been
          registered pursuant to the provisions of the securities or other laws of
          applicable jurisdictions. 

      

    

    

    (i)
      The
      Shares for which I subscribe are being acquired solely for my own account,
      for
      investment and are not being purchased with a view to or for their resale or
      distribution. In order to induce the Company to sell Shares to me, the Company
      will have no obligation to recognize the ownership, beneficial or otherwise,
      of
      the Shares by anyone but me.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (j)
      I am
      aware of the following:

    

    
      	
            	(i)	
              The
                Shares are a speculative investment which involves a high degree
                of risk;
                and

            

    

    

    
      	
            	(ii)	
              My
                investment in the Shares is not readily transferable; it may not
                be
                possible for me to liquidate my
                investment.

            

    

    

    
      	
            	(iii)	
              The
                financial statements of the Company have merely been compiled, and
                have
                not been reviewed or audited.

            

    

    

    
      	
            	(iv)	
              There
                are substantial restrictions on the transferability of the Shares
                registered under the Securities Act;
                and

            

    

     

    
      	 	
              ______________

            
	 	
              Purchaser’s
                Initials

            

    

     

    
      	
            	(v)	
              No
                federal or state agency has made any finding or determination as
                to the
                fairness of the Shares for public investment nor any recommendation
                or
                endorsement of the Shares;

            

    

    

    (k)
      Except as set forth in the Memorandum, none of the following information has
      ever been represented, guaranteed, or warranted to me expressly or by
      implication, by any broker, the Company, or agents or employees of the
      foregoing, or by any other person:

     

    
      	
            	(i)	
              The
                appropriate or exact length of time that I will be required to hold
                the
                Shares;

            

    

    

    
      	
            	(ii)	
              The
                percentage of profit and/or amount or type of consideration, profit,
                or
                loss to be realized, if any, as a result of an investment in the
                Shares;
                or

            

    

    

    
      	
            	(iii)	
              That
                the past performance or experience of the Company, or associates,
                agents,
                affiliates, or employees of the Company or any other person, will
                in any
                way indicate or predict economic results in connection with the purchase
                of Shares;

            

    

    

    
      	
            	(iv)	
              The
                amount of dividends or distributions that the Company will
                make;

            

    

    

    (l)
      I
      have not distributed the Memorandum to anyone, no other person has used the
      Memorandum, and I have made no copies of the Memorandum; and

    

    (m)
      I
      hereby agree to indemnify and hold harmless the Company, its officers,
      directors, and representatives from and against any and all liability, damage,
      cost or expense, including reasonable attorneys fees, incurred on account of
      or
      arising out of:

    

    
      	
            	(i)	
              Any
                inaccuracy in the declarations, representations, and warranties set
                forth
                above;

            

    

    

    
      	
            	(ii)	
              The
                disposition of any of the Shares by me which is contrary to the foregoing
                declarations, representations, and warranties;
                and

            

    

    

    
      	
            	(iii)	
              Any
                action, suit or proceeding based upon (1) the claim that said
                declarations, representations, or warranties were inaccurate or misleading
                or otherwise cause for obtaining damages or redress from the Company;
                or
                (2) the disposition of any of the
                Shares.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (n)
      By
      entering into this Subscription Agreement, I acknowledge that the Company is
      relying on the truth and accuracy of my representations.

    

    The
      foregoing representation and warranties are true and accurate as of the date
      hereof, shall be true and accurate as of the date of the delivery of the funds
      to the Company and shall survive such delivery. If, in any respect, such
      representations and warranties are not true and accurate prior to delivery
      of
      the funds, I will give written notice of the fact to the Company, specifying
      which representations and warranties are not true and accurate and the reasons
      therefor.

    

    
      	 	
              ______________

            
	 	
              Purchaser’s
                Initials

            

    

     

    
      
        3.
          Transferability.
          I
          understand that I may sell or otherwise transfer my Shares only if registered
          under the Securities Act or I provide the Company with an opinion of counsel
          acceptable to the Company to the effect that such sale or other transfer
          may be
          made in absence of registration under the Securities Act. I have no right
          to
          cause the Company to register the Shares. Any certificates or other documents
          representing my Shares will contain a restrictive legend reflecting this
          restriction, and stop transfer instructions will apply to my
          Shares.

      

    

    

    4. Indemnification.
      I
      understand the meaning and legal consequences of the representations and
      warranties contained in Paragraph 2 hereof, and I will indemnify and hold
      harmless the Company, its officers, directors, and representatives involved
      in
      the offer or sale of the Shares to me, as well as each of the managers and
      representatives, employees and agents and other controlling persons of each
      of
      them, from and against any and all loss, damage or liability due to or arising
      out of a breach of any representation or warranty of mine contained in this
      Subscription Agreement.

    

    5.
      Revocation.
      I will
      not cancel, terminate or revoke this Subscription Agreement or any agreement
      made by me hereunder and this Subscription Agreement shall survive my death
      or
      disability.

    

    6.
      Termination
      of Agreement.
      If this
      subscription is rejected by the Company, then this Subscription Agreement shall
      be null and void and of no further force and effect, no party shall have any
      rights against any other party hereunder, and the Company shall promptly return
      to me the funds delivered with this Subscription Agreement.

    

    7.
      Miscellaneous.

    

    
      	
            	(a)	
              This
                Subscription Agreement shall be governed by and construed in accordance
                with  the
                substantive law of the State of
                California.

            

    

    

    
      	
            	(b)	
              This
                Subscription Agreement constitutes the entire agreement between the
                parties hereto with respect to the subject matter hereof and may
                be
                amended only in writing and executed by all
                parties.

            

    

    

    8.
      Ownership
      Information.
      Please
      print here the total number of Shares to be purchased, and the exact name(s)
      in
      which the Shares will be registered.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Total
                Shares:

            	 	
                
                

            	 

    

     

    
      	
              Name(s):

            	 	
               
                

            

    

    

    
      	
               

            	 	
              Single
                Person

            
	
               

            	 	
              Husband
                and Wife, as community property

            
	
               

            	 	
              Joint
                Tenants (with right of survivorship)

            
	
               

            	 	
              Tenants
                in Common

            
	
               

            	 	
              A
                Married Person as separate property

            
	
               

            	 	
              Corporation
                or other organization

            
	
                
                

            	 	
              A
                Partnership

            
	
                
                

            	 	
              Trust

            
	
               

            	 	
              IRA

            

    

    

    
      	 	
              ______________

            
	 	
              Purchaser’s
                Initials

            

    

     

    
      	
               

            	 	
              Tax-Qualified
                Retirement Plan

            

    

    

    
      	 	
              (i)
                

            	
              Trustee(s)/
                Custodian

            	
               
                

            
	 	
              (ii)
                

            	
              Trust
                Date

            	
                
                

            
	 	
              (iii)
                

            	
              Name
                of Trust

            	
                
                

            
	 	
              (iv)
                

            	
              For
                the Benefit of

            	
               
                

            

    

    

    
      	
                

            	
               

            	
              Other:
                

            	 	  

	 	 	
               

            	 	
              (please
                explain)

            

    

    

    
      	
              Social
                Security or Tax I.D.#:

            	 	
                
                

            

    

    

    Residence
      Address:

    

    
      	 
	 	 
	
              Street
                Address

            	 	 
	 	 	 
	
              City
                

            	
              State
                

            	
              Zip

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Mailing
      Address: (Complete only if different from residence)

    

    
      	 	 	 
	
              Street
                Address (If P.O. Box, include address for surface delivery if different
                than residence)

            
	 	 	 
	
              City
                

            	
              State
                

            	
              Zip

            

    

     

    Phone
      Numbers

    

    
      	
              Home:
                

            	 	
              (

            	
               
                

            	)	  	 
	
              Business:

            	 	
              (

            	
               
                

            	)	  	 
	
              Facsimile:

            	 	
              (

            	
               
                

            	)	 	 

    

     

    
      	 	
              ______________

            
	 	
              Purchaser’s
                Initials

            

    

     

    
      	
              9.
                Date
                and Signatures. 

            	 	Dated 	 	
               

            	, 	2008.

    

     

    
      	
              Signatures
                

            	 	
              Purchaser
                Name (Print)

            
	 	 	 
	
               
                

            	 	
               
                

            
	 	 	 
	
               
                

            	 	
               
                

            

    

     

    (Each
      co-owner or joint owner must sign - Names must be signed exactly as listed
      under
“Purchaser Name”)

    

    ACCEPTED:

    

    EMVELCO
      CORP.

    

    
      	
              By:

            	 	
                
                

            	 	
              Dated:

            	
               
                

            	,	2008
	 	 	
              YOSSI
                ATTIA

              President

            	 	 	 	 	 

    

     

    
      	 	
              ______________

            
	 	
              Purchaser’s
                Initials

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EMVELCO
      CORP. 

    Investor
      Suitability Questionnaire 

    

    To:
      Prospective purchasers of Shares of Common Stock (the “Shares”) offered by
      EMVELCO CORP. (the “Company”).

    

    The
      Purpose of this Questionnaire is to solicit certain information regarding your
      financial status to determine whether you are an “Accredited Investor,” as
      defined under applicable federal and state securities laws, and otherwise meet
      the suitability criteria established by the Company for purchasing Shares.
      This
      questionnaire is not an offer to sell securities.

    

    Your
      answers will be kept as confidential as possible. You agree, however, that
      this
      Questionnaire may be shown to such persons as the Company deems appropriate
      to
      determine your eligibility as an Accredited Investor or to ascertain your
      general suitability for investing in the Shares.

    

    Please
      answer all questions completely and execute the signature
      page

    

    A.
      Personal

    

    
      	 	
              1.
                Name:

            	 	
                 
                

            

    

    

    
      	 	
              2.
                Address of Principal Residence:

            	 	
              
              

            

    

    

    
      	 	
               
                

            	 	
              County:

            	 	
               
                

            

    

    

    
      	 	
              3.
                Residence Telephone:

            	 	
              (

            	
               
                

            	)	 
              

    

    

    
      	 	
              4.
                Where are you registered to vote?

            	 	
               
                

            

    

     

    
      	 	
              5.
                Your driver’s license is issued by the following state:

            	 	
               
                

            

    

     

    
      	 	6. Other Residences or Contacts: Please
              identify any other state where you own a residence, are registered
              to
              vote, pay income taxes, hold a driver’s license or have any other
              contacts, and describe your connection with such
              state:

    

     

    
      	 	
               
                

            
	 	 
	 	
               
                

            

    

     

    
      	 	
              7.
                Please send all correspondence to:

            

    

    

    
      	 	
              (1)

            	 	
               

            	 	
              Residence
                Address (as set forth in item A-2)

            
	 	 	 	 	 	 
	 	
              (2)

            	 	
                

            	 	
              Business
                Address (as set forth in item B-1)

            

    

    

    
      	 	
              8.
                Date of Birth:

            	 	
               
                

            
	 	 	 	 
	 	
              9.
                Citizenship:

            	 	
               
                

            
	 	 	 	 
	 	
              10.
                Social Security or Tax I.D. #:

            	 	
               
                

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    B.
      Occupations and Income

    

    
      	 	
              1.
                Occupation:

            	 	
                
                

            

    

     

    
      	 	 	
              (a)
                Business Address:

            	 	
               
                

            
	 	 	 	 	 
	 	 	 
	 	
               

            

    

     

    
      	 	 	
              (b)
                Business Telephone Number:

            	 	
              (

            	
               

            	)	 
              

    

    

    
      	 	
              2.
                Gross income during each of the last two years
                exceeded:

            

    

    

    
      	 	 	
              (1)

            	
               

            	
              $25,000

            	 	
              (2)

            	
               

            	
              $50,000

            	 
	 	 	 	 	 	 	 	 	 	 
	 	 	
              (3)

            	
               

            	
              $100,000
                

            	 	
              (4)

            	
               

            	
              $200,000

            	 

    

    

    
      	 	
              3.
                Joint gross income with spouse during each of the last two years
                exceeded
                $300,000

            

    

    

    
      	 	 	
              (1)

            	
               
                

            	 	
              Yes

            	
              (2)

            	
                
                

            	 	
              No

            	 

    

    

    
      	 	
              4.
                Estimated gross income during current year
                exceeds:

            

    

    
      

      
        	 	 	
                (1)

              	
                 
                  

              	
                $25,000

              	 	
                (2)

              	
                 
                  

              	
                $50,000

              	 
	 	 	 	 	 	 	 	 	 	 
	 	 	
                (3)

              	
                 
                  

              	
                $100,000
                  

              	 	
                (4)

              	
                 
                  

              	
                $200,000

              	 

      

       

    

    
      	 	
              5.
                Estimated joint gross income with spouse during current year exceeds
                $300,000

            

    

    
      

      
        	 	 	
                (1)

              	
                 
                  

              	 	
                Yes

              	
                (2)

              	
                 
                  

              	 	
                No

              	 

      

       

    

    C.
      Net Worth

    

    1.
      Current net worth or joint net worth with spouse (note that “net worth” includes
      all of the assets owned by you and your spouse in excess of total liabilities,
      including the fair market value, less any mortgage, of your principal
      residence.)

    
       

    

    
      	 	
              (1)

            	
               
                

            	 	
              $50,000-$100,000

            	
              (2)

            	
               
                

            	 	
              $100,000-$250,000

            	
              (3)

            	
               
                

            	 	
              $250,000-$500,000

            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	
              (4)

            	
                
                

            	 	
              $500,000-$750,000

            	
              (5)

            	
               
                

            	 	
              $750,000-$1,000,000

            	
              (6)

            	 
	 	
              over
                $1,000,000

            

    

    

    
      	 	
              2.
                Current value of liquid assets (cash, freely marketable securities,
                cash
                surrender value of life insurance policies, and other items easily
                convertible into cash) is sufficient to provide for current needs
                and
                possible personal contingencies:

            

    

    
      
        

        
          	 	 	
                  (1)

                	
                   
                    

                	 	
                  Yes

                	
                  (2)

                	
                   
                    

                	 	
                  No

                	 

        

        

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

            

          

        

      

    

    

    D.
      Affiliation with the Company

    

    Are
      you a
      director or executive officer of the Company?

    
      
        

        
          	 	 	
                  (1)

                	
                   
                    

                	 	
                  Yes

                	
                  (2)

                	
                   
                    

                	 	
                  No

                	 

        

         

      

    

    E.
      Investment Percentage of Net Worth

    

    If
      you
      expect to invest up to $200,000 in Shares, does your total purchase price exceed
      10% of your net worth at the time of sale, or joint net worth with your
      spouse.

    
      
        

        
          	 	 	
                  (1)

                	
                   
                    

                	 	
                  Yes

                	
                  (2)

                	
                   
                    

                	 	
                  No

                	 

        

         

      

    

    F.
      Consistent Investment Strategy

    

    Is
      this
      investment consistent with your overall investment strategy?

    
      
        

        
          	 	 	
                  (1)

                	
                   
                    

                	 	
                  Yes

                	
                  (2)

                	
                   
                    

                	 	
                  No

                	 

        

         

      

    

    G.
      Prospective Investor’s Representations

    

    The
      information contained in this Questionnaire is true and complete, and the
      undersigned understands that the Company and its counsel will rely on such
      information for the purpose of complying with all applicable securities laws
      as
      discussed above. The undersigned agrees to notify the Company promptly of any
      change in the foregoing information which may occur prior to any purchase by
      the
      undersigned of securities from the Company.

    

    
      	
              Prospective
                Investor:

            	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	
               
                

            	 	
              Date:

            	 	
               
                

            	
              ,

            	2008
	
              Signature

            	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	
               
                

            	 	 	 	 	 	 
	
              Signature
                (of joint purchase if purchase is to be made as joint tenants or
                as
                tenants in common)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]