Document:

Exhibit 10.1

              EXCLUSIVE SOFTWARE LICENSE AND DISTRIBUTION AGREEMENT

                                     Between

                              RISK GOVERNANCE, LTD.

                                       And

                              RISK GOVERNANCE, INC.

This Exclusive  Software License and Distribution  Agreement  (hereinafter "this
Agreement") entered into as of this October 10th, 2003 ("Effective Date") by and
between Risk Governance,  Ltd. ("RGL"),  a corporation  formed under the laws of
the United  Kingdom,  having a principal  place of business at Surrey House,  34
Eden Street,  Kingston upon Thames, Surrey KT1 1ER, England and Risk Governance,
Inc.  ("Distributor"),  a  Delaware  corporation,  having a  principal  place of
business at 276 High Street, Winchester MA 01890 (RGL and Distributor, sometimes
referred to as "Party" or "Parties").
WHEREAS,  RGL owns certain rights in certain  technology  relating to enterprise
risk management  software known as "Risk  Governance"  Release 1.5, plus any and
all future versions thereof (the "Software");

WHEREAS,   Distributor  provides  installation,   customization,   sublicensing,
consulting,  support and  implementation  services  to  consumers  and  entities
desiring to license the Software;

WHEREAS,  Distributor  desires  RGL to appoint  Distributor  as RGL's  exclusive
sublicensor  and  distributor  in all  countries  that are  parties to the North
American Free Trade Agreement ("Territory") with respect to the distribution and
licensing of the Software.

NOW,  THEREFORE,  in  consideration of their mutual promises set forth below and
other valuable consideration, the parties agree as follows:

1. SCOPE OF AGREEMENT

         1.1 Definitions.  As used in this Agreement,  the following terms shall
have the following meanings:

         a.       "Copyrights" shall mean RGL's copyrights in the Software.

         b.       "Customers" shall mean Third Parties who license the Software,
                  as distributed by  Distributor,  by agreeing to be bound by an
                  end user license agreement.

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         c.       "Fiscal  Quarter"  or  "Quarter"  shall  refer  to the  normal
                  quarterly  accounting  periods of Distributor;  if Distributor
                  does  not  have  normal  quarterly  accounting  periods,  then
                  "Fiscal Quarters" shall mean the calendar three months periods
                  commencing with January of each year.

         d.       The term "Modifications" shall mean any changes or alterations
                  made to the Software by  modifying,  manipulating,  editing or
                  revising  the  Software's  Source  Code.  RGL  shall  own  all
                  Modifications. The use of Modifications by Distributor and its
                  customers  shall  be  considered  to be  licensed  under  this
                  Agreement and subject to the terms of this Agreement.

         e.       "Software" means the enterprise risk management software known
                  as "Risk Governance" Releases 1.5. Provided Distributor is not
                  in default of this Agreement,  Software shall also include all
                  future  versions of the  Software - which shall be provided to
                  Distributor at no additional cost.

         f.       "Third  Party(ies)"  shall  mean  any  party  other  than  the
                  Distributor or RGL.

         g.       "Year"  refers to contract  years of the  Agreement,  i.e.,  a
                  12-month period starting with the date (or anniversary) of the
                  Effective Date of this Agreement.

         1.2  Exclusivity.  RGL hereby  appoints  Distributor as RGL's exclusive
distributor and sublicensor  for  distribution  and licensing of the Software in
the Territory to Customers and grants  Distributor  an exclusive  license to the
Software for  purposes of such  distribution  and  licensing to Customers in the
Territory, together with associated installation,  customization,  sublicensing,
consulting, support and implementation services.

2. LICENSE OF SOFTWARE.

         2.1  Software  License  Rights.   RGL  hereby  grants  Distributor  the
exclusive,  perpetual and irrevocable (subject to termination below) license and
right during the Term of this Agreement to copy, duplicate, distribute and grant
sublicenses of the Software,  together with all future versions  thereof and any
Modifications thereto, to Customers, and to provide customization,  maintenance,
training,  support,  hosting and  consulting  services in  connection  with said
license and the Software,  provided (i) each Customer  shall not be permitted to
access or use the Software  until it has executed a  sublicense  agreement  from
Distributor,  and (ii)  Distributor  remits to RGL the Royalties as specified in
Section 4, below.

         2.2 Appointment of  Subdistributors.  RGL hereby grants Distributor the
exclusive right during the Term of this Agreement to appoint  subdistributors of
the Software  provided (i) Distributor  obtains the prior approval of RGL, which
shall not  unreasonably be withheld,  and (ii) any  subdistributor  agrees to be
bound by the terms and conditions of this Agreement.

         2.3 Modifications to Software.  Distributor may create Modifications as
necessary to meet the requirements of Customers.  Modifications shall,  however,
be owned by RGL and subject to the terms of this Agreement.

                                       2
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         2.4  Use of  Trademarks.  Distributor  hereby  grants  Distributor  the
license and right during the Term of this  Agreement to use or depict RGL's name
and/or  trademarks,  including,  but not limited,  to "Risk  Governance" and any
trademarks in the  Software,  in connection  with the Software  License  granted
herein. RGL shall have the right, upon written request, to review  Distributor's
use of RGL's  trademark in marketing  material or otherwise and request  changes
thereto.

3. UPDATES AND SUPPORT AND TRAINING.

         3.1 Release of  Updates.  To the extent that RGL or anyone on behalf of
RGL  makes  any  updates,   enhancements,   modifications,   upgrades  or  other
improvements to the Software  ("Enhancements"),  same shall be made available to
Distributor  at no cost  within  thirty  (30) days of  completion  of same.  Any
Enhancements shall be subject to the terms of this Agreement.

         3.2  Customer  Support.  Distributor  shall  provide  primary  customer
support  to its  Customers.  If and when  Distributor  is unable  to assist  its
Customers with the Software,  Distributor  may request  assistance  from RGL. In
such a situation,  RGL shall provide such guidance and assistance to Distributor
as is commercially  reasonable to permit Distributor to appropriately in provide
support to its Customers.  Notwithstanding the foregoing,  Distributor shall not
advise its  Customers,  and  Customers  shall not be  permitted,  to contact RGL
directly for Software support.

         3.3  Training.  RGL shall  provide,  at its cost,  such  training as is
reasonably   necessary  in  the   reasonable   discretion  of   Distributor   to
Distributor's  employees so as to enable  Distributor to fulfill its obligations
under this  Agreement.  The  training  shall be schedule at times and located at
venues mutually agreed to by the parties.

4. PRICES AND PAYMENT.

         4.1.  License  Fees.  The total fees  received by  Distributor  for the
sublicense of the Software to a Customer shall be the "License Fees." Solely for
purposes of  calculations  of Annual  License Fees in connection  with Royalties
pursuant to Section 4.2 hereof,  and for no other purpose,  the minimum  License
Fee for each sublicense to a Customer shall be deemed $1.

         4.2  Royalties.  For  each  license  of  the  Software  to a  Customer,
Distributor  shall pay to RGL, as set forth below,  a royalty  ("Royalty").  The
Royalty  percentage shall be determined  based upon the cumulative  License Fees
received by Distributor as of the end of any Fiscal Quarter ("Fee Level").  Once
a Fee Level is achieved, RGL shall be entitled (as set forth below) to a Royalty
payment equal to the applicable Royalty rate multiplied against each License Fee
received by Distributor  while the Fee Level remains in effect.  (i.e. until the
next  higher  Fee Level is  achieved).  The Fee Levels  and  applicable  Royalty
percentages are as follows::

                  Fee Level                           Royalty Percentage
                  0-$500,000                                  0%
                  $500,001-$1,000,000                         5%
                  $1,000,001 - $3,000,000                     7.5%
                  $3,000,001 - $5,000,000                    10%
                  Exceeds $5,000,001                         15%

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         Thus, for example,  until the Fee Level exceeds $500,000, no Royalty is
due. Once the Fee Level exceeds $500,000, but does not exceed $1,000,000, RGL is
entitled to a Royalty  payment  equal to 5% of all  License  Fees  collected  by
Distributor  after the $500,001  threshold was achieved,  until such time as the
cumulative  License  Fees exceed the  $1,000,000  limit.  Thereafter,  until the
cumulative  License Fees  collected by  Distributor  exceed  $3,000,000,  RGL is
entitled to a Royalty of 7.5% of all License Fees collected by Distributor after
the $1,000,001 threshold was achieved, and so forth.

         4.3 Adjustment to Royalties. In the event that Distributor,  during the
Initial  Term  or any  Renewal  Term,  makes  substantial  Modifications  to the
Software,  RGL agrees to negotiate with  Distributor in good faith to reduce the
Royalty for the Software for  successive  renewal  terms.  Such reduced  Royalty
shall be intended to reflect the  proportionate  value of Modifications  made by
Distributor  in relation  to the value of the  Software  originally  licensed to
Distributor in the Initial Term.

         4.4  Maintenance   Fees.  All  revenue   received  by  Distributor  for
maintenance  of the Software  ("Maintenance  Fees") shall be remitted to RGL, in
accordance with Section 4.5, without deduction or offset. Maintenance Fees shall
specifically  refer to all revenue  received by Distributor for the provision of
or obligation to provide upgrades, bug fixes, and enhancements to the Software.

         4.5 Taxes. Distributor shall be responsible for all VAT, sales, use and
other similar taxes applicable to Software supplied under this Agreement, unless
Distributor provides written proof of exemption.

         4.6 Payment Terms.  While this Agreement  remains in effect,  Royalties
and Maintenance Fees shall be paid by Distributor to RGL for each Fiscal Quarter
within five (5) days of the end of such Fiscal Quarter,  based upon the total of
the License Fees and Maintenance Fees received by Distributor during such Fiscal
Quarter.

         4.7  Form of  Payment.  All  License  Fees  and  Maintenance  Fees  due
hereunder  shall be paid in U.S.  Dollars and shall be made by wire  transfer to
RGL's account No. 10062693, Sort 20-90-56, at Barclays, Walton-on-Thames,  or by
Distributor's check sent in accordance with the Section entitled "Notices."

         4.7 Default  Interest.  All amounts  due  hereunder  which are not paid
within ten (10) days of the date due shall bear  interest  until paid at 12% per
annum.  This  provision  for interest  shall not be construed as a waiver of any
rights RGL has as a result of  Distributor's  failure to make timely  payment of
any amounts.

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5.  REPORTS AND AUDITS

         5.1 Reporting.  Distributor shall report Quarterly to RGL the number of
Licenses  issued  under this  Agreement  that are  subject to the  License  Fees
specified above.

         5.2 Maintenance of Records.  Distributor  shall maintain accurate books
and records  such that the  Royalties  due and payable  hereunder  can be easily
ascertained.  Such  books  and  records  shall be  maintained  at  Distributor's
principal  place of business and shall be available for inspection by RGL or its
representatives  during the normal business day upon not less than ten (10) days
prior written notice,  provided that RGL or its representatives agree to protect
the confidentiality of the information as to the customers of Distributor.

         5.3 Audit.  Distributor  shall make available  Distributor's  books and
records for audit by an accounting firm or  representative  of RGL's  selection,
and Distributor  agrees to cooperate fully in any such audit,  provided that the
auditors  agree to protect  the  confidentiality  of the  information  as to the
customers  of  Distributor.  Any such  audit  shall  not be more  frequent  than
annually.  In the event  that such audit  determines  that the amount of License
Fees paid to RGL was in error by more than five (5%) percent,  Distributor shall
pay the costs of the audit.

6.  PROPRIETARY NOTICES.

Distributor  shall  maintain  on any copy of the  Software  that it  reproduces,
whether for  internal use or for  distribution,  all such notices as are affixed
thereto  by RGL.  Such  notice  may be loaded in the  computer  memory  for use,
display,  or reproduction  and may be embedded in program source code and object
code, in the video screen display, on the physical medium embodying the Software
copy, and on any documentation and sublicensee reference manuals.

7. DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY.

ANY SOFTWARE,  MATERIALS,  SERVICES,  INTELLECTUAL PROPERTY OR OTHER PROPERTY OR
RIGHTS,  GRANTED OR PROVIDED BY RGL PURSUANT TO THIS AGREEMENT ARE ON AN "AS IS"
BASIS. RGL MAKES NO WARRANTIES OF ANY KIND,  EITHER EXPRESSED OR IMPLIED,  AS TO
ANY MATTER  INCLUDING,  BUT NOT LIMITED TO,  WARRANTY OF FITNESS FOR  PARTICULAR
PURPOSE, OR MERCHANTABILITY, EXCLUSIVITY OR RESULTS OBTAINED FROM USE. NOR SHALL
EITHER  PARTY  HERETO  BE  LIABLE  TO  THE  OTHER  FOR  INDIRECT,   SPECIAL,  OR
CONSEQUENTIAL  DAMAGES SUCH AS LOSS OF PROFITS OR INABILITY TO USE SAID SOFTWARE
OR ANY APPLICATIONS AND DERIVATIONS  THEREOF.  DISTTRIBUTOR  AGREES THAT IT WILL
NOT MAKE ANY  WARRANTY ON BEHALF OF RGL,  EXPRESSED  OR  IMPLIED,  TO ANY ENTITY
CONCERNING  THE  APPLICATION OF OR THE RESULTS TO BE OBTAINED WITH THE SOFTWARE,
INFORMATION,  MATERIALS,  SERVICES,  INTELLECTUAL  PROPERTY OR OTHER PROPERTY OR
RIGHTS, GRANTED OR PROVIDED BY RGL PURSUANT TO THIS AGREEMENT.

                                       5
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8. INDEMNIFICATION.

RGL hereby  agrees to  defend,  indemnify  and hold  harmless  Distributor,  its
trustees, officers,  employees,  attorneys and agents from all claims or demands
made against them (and any related losses,  expenses or attorney's fees) arising
out of or relating to any claims by Third  Parties  arising out of a: (a) breach
of a representation  or warranty of RGL in connection with the Software;  or (b)
Distributor's  permitted  use of  any  trademark,  copyright,  patent  or  other
intellectual property belonging to RGL.

Distributor  hereby  agrees to defend,  indemnify  and hold  harmless  RGL,  its
trustees, officers,  employees,  attorneys and agents from all claims or demands
made against them (and any related losses,  expenses or attorney's fees) arising
out of or relating to any claims by Third Parties arising out of a breach of any
independent  representation  or warranty of Distributor  in connection  with the
Software which was not also provided by RGL.

The  indemnification  obligations of this Section are contingent  upon the Party
seeking  indemnification (a) giving the other Party prompt written notice of any
such claim;  and (b)  providing  reasonable  cooperation  in the defense and all
related settlement negotiations.

9. PROPRIETARY INFORMATION.

         9.1 Protection of Proprietary Information. RGL and Distributor agree to
keep in confidence  and not disclose to others all  knowledge,  information  and
data furnished to either by the other party and claimed by the other party to be
proprietary,  provided  such  information  is given in writing  or, if oral,  is
reduced  to  writing  within  thirty  (30)  days and such  writing  is marked to
indicate the claims of ownership and/or secrecy.  RGL and Distributor agree that
neither shall use, nor reproduce for use in any way, any proprietary information
of the other except in furtherance of the relationship set forth herein. RGL and
Distributor  agree to protect the proprietary  information of the other with the
same standard of care and procedures used by each to protect its own proprietary
information  of similar  importance but at all times using at least a reasonable
degree of care.

         9.2  Limitations.  Section 9.1 shall not be applicable and shall impose
no obligation on a party with respect to any portion of proprietary  information
which:

         a.       Was at the time received or which thereafter becomes,  through
                  no act or failure on the part of such party,  generally  known
                  or available to the public;

         b.       Is  known  to  such  party  at  the  time  of  receiving  such
                  information as evidenced by  documentation  then rightfully in
                  the possession of either party;

         c.       Is furnished to others by the other party without  restriction
                  of disclosure;

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<PAGE>

         d.       Is  thereafter  rightfully  furnished to such party by a third
                  party without  restriction  by that third party on disclosure;
                  or

         e.       Has been  disclosed  pursuant  to the  requirements  of law or
                  court order without  restrictions or other protection  against
                  public  disclosure;  provided,  however,  that the other party
                  shall  have  been  given a  reasonable  opportunity  to resist
                  disclosure and/or to obtain a suitable protective order.

         9.3 Survival.  The covenants of confidentiality  set forth herein shall
survive and  continue and be  maintained  from the  Effective  Date hereof until
three (3) years after termination of this Agreement.

10. TERM AND TERMINATION.

         10.1.  Term. The initial term of this Agreement shall commence upon the
Effective Date and shall continue until terminated by Distributor on ninety (90)
days written  notice given or by RGL in the event of a breach by  Distributor as
set forth below.

         10.2     Termination. This Agreement may be terminated as follows:

         a.       At any time upon mutual written agreement of the Parties;

         b.       By RGL upon sixty (60) days written notice to Distributor  for
                  failure by  Distributor  to make a Royalty  payment  when due,
                  unless such failure is cured within the sixty (60) day period;
                  or

         c.       By either  Party if (i) the other Party is in material  breach
                  of its obligations hereunder and such breach continues uncured
                  for a period of thirty (30) days after  written  notice to the
                  defaulting  Party,  or (ii) the  other  Party  makes a general
                  assignment for the benefit of its  creditors,  appoints or has
                  appointed a receiver, trustee in bankruptcy or similar officer
                  to take charge of all or part of its property,  files or has a
                  petition  filed  against  it in any  bankruptcy  (unless  such
                  petition is  dismissed  within sixty (60) days of its filing),
                  and/or is adjudged insolvent or bankrupt.

11.      EXPORT REQUIREMENTS.

The Software and any  documentation  and all related  technical  information  or
materials  are  subject to export  controls  and are  licensable  under the U.S.
Government export  regulations.  Distributor will comply strictly with all legal
requirements  established  under these  controls and will not export,  reexport,
divert,   transfer  or  disclose,   directly  or   indirectly,   the   Software,
documentation  and any related  technical  information or materials  without the
prior approval of the U.S. Department of Commerce.

12.      BREACH

No acquiescence in any breach of this Agreement by either Party shall operate to
excuse any subsequent or prior breach.

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13.      ENTIRE AGREEMENT

Except for any confidential  disclosure agreement executed by the Parties,  this
Agreement  supersedes  all previous  agreements  relating to the subject  matter
hereof,  whether oral or in a writing,  and constitutes the entire  agreement of
the Parties  hereto and shall not be amended or altered in any respect except in
a writing executed by the Parties.

14.      DISPUTE RESOLUTION

The Parties hereby  irrevocably  and  unconditionally  agree that this Agreement
shall be  governed in all  respects by the laws of the United  States of America
and the State of Delaware,  excluding the  application of its conflict or choice
of law rules as well as the  application to this Agreement of the United Nations
Convention  on  Contracts  for the  International  Sale of  Goods.  The  Parties
irrevocably submit to the exclusive jurisdiction of the federal and state courts
located in the State of Delaware for disputes arising under this Agreement.  The
Parties will not raise in connection  therewith,  and hereby waive, any defenses
based on the  venue,  the  inconvenience  of the  forum,  the  lack of  personal
jurisdiction, the sufficiency of service process, or the like in any such action
brought in the State of Delaware.  The Parties agree that service of a complaint
may be provided to a Party in accordance with the terms of Section 15 hereof for
any dispute,  litigation  or other  action  arising  under this  Agreement or to
interpret or enforce this Agreement.

15.      NOTICES

Any notice under any of the provisions of this  Agreement  shall be deemed given
when deposited in the mail, postage prepaid, registered or certified first class
mail  and  addressed  to the  applicable  party  at the  address  stated  on the
signature  page hereof,  or such other  address as such party shall  specify for
itself by like notice to other party.  Each party shall  transmit to the other a
facsimile copy of each such notice promptly after such deposit in the mail.

16.      ASSIGNMENT

Neither  Party shall assign or transfer  this  Agreement or any interest  herein
without  the prior  written  consent  of the  other  Party,  which  shall not be
unreasonably  delayed or withheld.  Notwithstanding the foregoing,  either Party
may assign  this  Agreement  without the consent of the other Party in the event
that it sells  substantially  all of its assets to a third party in the business
of selling  software  and  consulting  services  to  academic  institutions  and
provided that such third party agree, in writing, to accept all responsibilities
to the  assigning  Party  under this  Agreement  (including  without  limitation
payment, insurance and liability responsibilities) and provided further that the
assigning  Party provide  thirty (30) days advance  written  notice to the other
Party of such assignment.

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17.      HEADINGS

The  section  headings  contained  in  this  Agreement  are  set  forth  for the
convenience  of the parties only,  do not form a part of this  Agreement and are
not  to be  considered  a  part  hereof  for  the  purpose  of  construction  or
interpretation hereof, or otherwise.

         IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
duly  executed  in  duplicate  counterparts,  each of which  shall be  deemed to
constitute  an  original,  effective  as of the date first  above  written.  The
undersigned  verify that they have the  authority to bind to this  Agreement the
party on behalf of which they are executing below.

RISK GOVERNANCE, LTD.

By:      /s/ John Conaghan
    ---------------------------------
Title:   Director
    ---------------------------------

Date:
     --------------------------------

Address for Notices:

Telecopier:

RISK GOVERNANCE, INC.

By:      /s/ David Sallis
    ---------------------------------
Title:   President
    ---------------------------------

Date:
     --------------------------------

Address for Notices:

Telecopier:

                                       9EXHIBIT 10.2

                                 PROMISSORY NOTE

US$200,000.00                                                     March 30, 2005

         FOR VALUE RECEIVED the undersigned, SECURAC CORP., a Nevada corporation
having  an office in the City of  Edmonton,  in the  Province  of  Alberta  (the
"Company" or "Borrower") at the City of Calgary, in the Province of Alberta (the
"Company" or "Borrower") at 2500,  520 - 5th Avenue S.W.,  Calgary,  Alberta T2P
3R7 Canada, promises to pay GENERATION CAPITAL ASSOCIATES, a unincorporated firm
having an office in the City of Atlanta in the State of Georgia  (the  "Holder")
at 1085 Riverside  Trace,  Atlanta,  GA, 30328,  the sum of Two Hundred Thousand
United States Dollars (US$200,000.00), payable in full upon the earlier to occur
of the  following  (i) receipt by the  Borrower of the amount of  US$200,000  in
satisfaction  of a  subscription  for Common Stock of the Company  pursuant to a
Subscription  Agreement  dated  October 31, 2004;  and (ii) May 31,  2005,  (the
"Maturity Date").  Interest shall accrue on the unpaid principal balance of this
Note from and after the date  hereof at the rate of 6.00% per annum and shall be
payable on the Maturity  Date.  Interest  shall  accrue on the unpaid  principal
balance of this Note,  and  interest  on overdue and unpaid  interest,  from and
after the Maturity Date,  default and judgement,  at a rate of 18.00% per annum.
Any amount of interest not paid when due (including overdue and unpaid interest)
shall bear interest at the aforesaid 18.00%,  calculated and compounded  monthly
and shall be paid without the necessity of any demand being made,  but if demand
is made, on demand.

         The  Borrower  shall  have the right to prepay  this Note in full or in
part at any time and from time to time prior to the Maturity  Date of this Note.
Any partial  pre-payment  shall be applied  first  against all accrued  interest
through the date of pre-payment and second against the principal outstanding.

         All  payments of principal  and interest  made under this Note shall be
made by wire transfer of immediately  available  funds pursuant to  instructions
provided by the Holder.

         The entire  unpaid  balance of  principal  of, and all  accrued  unpaid
interest on, this Note shall, at the option of the Holder,  become forthwith due
and payable  without notice or demand upon the happening of any of the following
events of default: (a) default in payment as required hereunder and such default
continues for 15 days after written notice that such payment is past due; or (b)
appointment  of a  receiver  of any  property,  common law  assignment  or trust
mortgage  for  the  benefit  of  creditors,  the  commencement  of any  kind  of
insolvency proceedings, or the filing of any proceedings under any bankruptcy or
other law relating to the relief of debtors and the  continuation of such action
or proceeding is not dismissed within 30 days or more.

         If action is instituted to collect this Note, the Borrower  promises to
pay all  reasonable  costs and expenses  (including  reasonable  attorney  fees)
incurred in connection with such action.

         No delay or omission by the Holder in  exercising  or enforcing  any of
its powers, rights, privileges,  remedies or discretions hereunder shall operate
as a waiver  thereof  on that or any other  occasion,  and no single or  partial
exercise of any right hereunder shall preclude other or future exercise thereof.
No waiver of any right or remedy hereunder on any occasion shall be construed as
a bar or waiver of any such  right or remedy on any  future  occasion,  nor as a
continuing waiver. The Borrower agrees that no variance, extension or renewal of
this Note shall affect the absolute and unconditional  liability of the Borrower
hereunder.

         The Borrower  hereby  waives  presentment,  demand,  notice of protest,
suretyship  defenses,  and all other demands and notices in connection  with the
delivery, acceptance, performance, default and/or enforcement of this Note or of
any  rights  hereunder.  The  Borrower  will pay to the  Holder  on  demand  all
reasonable  costs and  expenses,  including  attorneys'  fees,  relating  to the
collection and/or enforcement of this Note or of any rights hereunder.

            The  Lender  and the  Borrower  hereby  knowingly,  voluntarily  and
intentionally  waive any  rights  they may have to a trial by jury in respect of
any litigation  based hereon,  or arising out of, under,  or in connection  with
this Note or any course of conduct, course of dealing,  statements (whether oral
or  written)  or  actions  of the  Lender or the  Borrower.  The  Lender and the
Borrower,  and each of them,  acknowledge and agree that they have received full
and  sufficient  consideration  for this  provision and that this provision is a
material inducement for the Lender providing the Loan to the Borrower.

                                       1
<PAGE>

         All the  covenants,  stipulation,  promises and agreements in this Note
contained  by or on behalf of Borrower  shall bind its  successors  and assigns,
whether or not so expressed.  This Note is  transferable  and  assignable by the
Holder.

         This  Note  may be  signed  in two or more  counterparts,  which  taken
together shall constitute one Note.  Facsimile  signatures shall be deemed to be
original signatures for all purposes.

         The  proceeds  from the loan  evidenced by this Note are to be used for
business  purposes  only,  and no  part  thereof  is to be  used  for  primarily
consumer, personal, family or household purposes.

         Time is of the essence in the performance of each and every  obligation
of Borrower set forth herein.

         In the event that Holder  consults with an attorney in connection  with
Borrower's performance of any obligation under this Note, Borrower shall pay all
reasonable attorneys' fees and costs incurred by Holder.

         This Note shall be governed by and construed and enforced in accordance
with the laws of the Province of Alberta, and to the extent applicable, the laws
of Canada.  If any provision of this Note is held to be invalid or unenforceable
by a court of competent  jurisdiction,  the other  provisions of this Note shall
remain in full force and effect.

         All notices  given  under this Note shall be in  writing,  and shall be
deemed received: (1) upon delivery if given in person; (2) upon receipt if given
by generally recognized overnight courier service; or (3) 48 hours after deposit
with the United States Postal  Service,  certified or  registered  mail,  return
receipt  requested,  postage  prepaid.  Notices  shall be given to Holder to the
attention of the General Counsel at the address  specified above, and notices to
Borrower may be given to the address specified above.

                                              SECURAC CORP.

                                              By: /s/ Paul James Hookham
                                                  Paul James Hookham, C.F.O
                                                  (Name & Title)

                                              By: /s/ Bryce R. Mitchell
                                                  ------------------------------
                                                  Bryce R. Mitchell, EVP Sales
                                                  (Name & title)

                                       2
<PAGE>

                               PERSONAL GUARANTEE

         This Guarantee (this "Guarantee"),  dated as of March 30, 2005, is made
by Terry W. Allen, an Alberta resident, Bryce Mitchell, an Alberta resident, and
Paul Hookham an Alberta resident, in favour of Generation Capital Associates,  a
firm having an office in Atlanta, Georgia.

         WHEREAS GENERAL CAPITAL ASSOCIATES (the "Lender") is lending the sum of
Two Hundred  Thousand  Dollars in legal and lawful money of the United States of
America  (US$200,000)  (the  "Loan")  to  SECURAC  CORP.  (the  "Borrower"),  as
evidenced by the promissory note (the "Note") dated on even date herewith;

         AND WHEREAS  the Lender is willing to provide the Loan to the  Borrower
on condition of Terry W. Allen ("Allen"),  Chief Executive  Officer of Borrower,
with an office at 1000 Manulife Place, 10180-101 Street,  Edmonton,  Alberta T5J
3S4 Canada,  Bryce  Mitchell  ("Mitchell"),  Executive Vice President - Sales of
Borrower,  Paul Hookham ("Hookham"),  Chief Financial Officer of Borrower,  both
with an office located at 2500, 520 - 5th Avenue S.W., Calgary,  Alberta T2P 1V6
Canada,  jointly and severally  personally  guarantee repayment of the Loan when
due of all sums due to Lender by Borrower hereunder in accordance with the terms
of the Note (Allen,  Mitchell and Hookham are collectively referred to herein as
the "Guarantors");

         AND WHEREAS the Guarantors desire to execute and deliver this Guarantee
in consideration of the Lender providing the Loan to the Borrower;

         Now  therefore,  in  consideration  of the  foregoing and of the mutual
covenants  contained  herein,  the Guarantors hereby jointly and severally agree
with the Lender as follows:

1. GUARANTEE.  The Guarantors hereby  unconditionally and irrevocably guarantees
the full and prompt  payment  when due of any and all  amounts  due and  payable
under the Note.

2.  OBLIGATIONS PAID IN ACCORDANCE WITH TERMS HEREOF.  The Guarantors  guarantee
that each payment under the Note shall be paid in accordance  with the terms and
provisions  thereof  without  regard to any  applicable  law now or hereafter in
affect in any jurisdiction  that might in any manner affect any of such terms or
provisions or the rights of the Lender with respect hereto.

3. ENFORCEMENT OF GUARANTY.  On the date on which the Loan is due and payable by
the Borrower,  Lender, in his sole discretion,  may proceed directly against the
Guarantors  to  exercise  any right or remedy  that  Lender  may have under this
Guarantee  without  pursuing or exhausting any other right or remedy that Lender
may have against the Borrower.

4. CONTINUING  GUARANTEE.  This Guarantee shall be a continuing Guarantee of all
the guaranteed  liabilities  and shall apply to and secure any ultimate  balance
due or remaining unpaid to Lender;  and this Guarantee shall be binding upon the
Guarantors and his heirs, executors, administrators,  successors and assigns and
shall insure to and shall be  enforceable  by the Lender and its  successors and
assigns.

4. GUARANTY  ABSOLUTE.  The  obligations  of the Guarantors  hereunder  shall be
absolute  and   unconditional   irrespective   of  the  validity,   legality  or
enforceability of the Note or any event that might otherwise  constitute a legal
or equitable discharge of a guarantor,  and shall not be subject to any defense,
counterclaim,  setoff, recoupment,  abatement,  reduction or other determination
that the  Guarantors  or the Borrower may have against  Lender,  it being agreed
that the agreements and  liabilities  of the Guarantors  hereunder  shall not be
discharged  except  by  payment  or as  otherwise  expressly  provided  in  this
Guarantee.  The Guarantors  acknowledge that there is no conditions precedent to
the  effectiveness  of this Guarantee,  and that this Guarantee is in full force
and effect and is binding on the Guarantors as of the date written above.

5.  ACCELERATION  OF GURANTEE.  The  Guarantors  agree that, in the event of any
default  described in the Note,  and if such default  shall occur at a time when
any of the  obligations  of the Borrower  may not then be due and  payable,  the
Guarantors agree that it will pay to the Lenders forthwith the full amount which
would be payable  hereunder by the Guarantors if all such  obligations were then
due and payable.

                                                                               1
<PAGE>

6. RECOURSE.  Lender shall not be bound to exhaust  recourse against Borrower or
others or any  securities  or other  guarantees  it may at any time hold  before
being  entitled to payment  from  Guarantors,  and the  Guarantors  renounce all
benefits of discussion and division.

7. DEMAND FOR PAYMENT.  The  Guarantors'  liability  to make payment  under this
Guarantee  shall  arise  forthwith  after  demand for  payment  has been made in
writing on the undersigned,  or any one of them, and such demand shall be deemed
to have been effectually made when an envelope  containing such demand addressed
to the undersigned or such one of them at the address of the undersigned or such
one of them last know to the  Lender is  posted,  postage  prepaid,  in the post
office.

8. NO OTHER  AGREEMENTS.  This Guarantee  embodies all the agreement between the
parties hereto  relative to the Guarantee and none of the parties shall be bound
by any  representation  or promise made by any person relative  thereto which is
not embodied herein; and it is specifically  agreed that the Lender shall not be
bound by any representations or promises made by Borrower to the Guarantors.

9. MISCELLANEOUS.

9.1 Governing Law. This Guarantee  shall be governed in all respects by the laws
of the Province of Alberta.

9.2 Enurement.  This Guarantee  shall not be discharged or affected by the death
of the undersigned or any of them, and shall enure to the benefit and be binding
upon  Lender,  its  successors  and  assigns  and  the  Guarantors,  his  heirs,
executors, administrator's successors and assigns.

9.3 Guarantees Acknowledgement.  Guarantors, and each of them, has duly executed
before a Notary Public the attached  Guarantees  Acknowledgement Act Form, which
is made a part of this Guarantee.

9.4  Waiver of Jury  Trial.  The  Lender and the  Guarantors  hereby  knowingly,
voluntarily and intentionally waive any rights they or he may have to a trial by
jury in respect of any litigation based hereon,  or arising out of, under, or in
connection  with this Guarantee or the Note or any course of conduct,  course of
dealing,  statements  (whether  oral or written) or actions of the Lender or the
Guarantors.  The Lender and the  Guarantors,  and each of them,  acknowledge and
agree that they and he have received full and sufficient  consideration for this
provision  and that this  provision  is a  material  inducement  for the  Lender
providing the Loan to the Borrower.

9.5  Counterparts.  This Guarantee may be executed in one or more  counterparts,
and by  facsimile,  each of which may be  executed by one or more of the parties
hereto,  but  all of  which,  when  taken  together,  shall  constitute  but one
agreement.

                                                                               2
<PAGE>

9.6 No Waiver by Action.  Any waiver or consent  respecting any  representation,
warranty or other  provision of this  Guaranty  shall be  effective  only in the
specific  instance and for the specific purpose for which given and shall not be
deemed,  regardless of the frequency given, to be a further or continuing waiver
or  consent.  The  failure  or delay of a party at any time or times to  require
performance  of, or to exercise its rights with respect to, any  representation,
warranty or other  provision of this Guaranty in no manner  (except as otherwise
expressly provided herein) shall affect its right at a later time to enforce any
such provision. No notice to or demand on a party in any case shall entitle such
party to any other or further  notice or demand in this  same,  similar or other
circumstances.

         IN  WITNESS  WHEREOF,  each  of the  parties  hereto  has  caused  this
Guarantee to be executed and delivered as of the date set forth above.

SIGNED SEALED AND DELIVERED in the presence
of:

/s/B. Nemeth                                  /s/ Terry W. Allen
-------------------------------------------   ----------------------------------
witness                                       Terry W. Allen

SIGNED SEALED AND DELIVERED in the presence
of:

/s/ Edward B. Brown                           /s/ Bryce Mitchell
-------------------------------------------   ----------------------------------
witness                                       Bryce Mitchell

SIGNED SEALED AND DELIVERED in the presence
of:

/s/ Edward B. Brown                           /s/ Paul Hookham
-------------------------------------------   ----------------------------------
witness                                       Paul Hookham

             SIGNATURE OF THIS GUARANTEE INVOVLES PERSONAL LIABILITY

                                                                               3
<PAGE>

                       GUARANTEES ACKNOWLEDGEMENT ACT FORM

                                   (SECTION 3)

                          CERTIFICATE OF NOTARY PUBLIC
                             I HEREBY CERTIFY THAT:

1. Terry W. Allen of Edmonton in the Province of Alberta,  the  guarantor in the
guarantee dated March 30th, 2005 made between  Generation Capital Associates and
Terry W. Allen,  which this  certificate is attached to or noted on, appeared in
person before me and acknowledged that he had executed the guarantee;

2. I satisfied  myself by examination of him that he is aware of the contents of
the guarantee and understands it.

GIVEN at Palm Desert, California  this 30th day of March, 2005 under my hand and
seal of office.

                                                  /s/ B. Nemeth
                                                  -----------------------------
                                                  A Notary Public in and for
                                                  Riverside, California

                                                  B. Nemeth
                                                  Commission #1503833
                                                  Notary Public-California
                                                  Riverside County
                                                  My Comm. Expires Jul 26, 2008

                             STATEMENT OF GUARANTOR

I am the person named in this certificate.

/s/ Terry W. Allen
----------------------------
(Signature of Guarantor)

                                                                               1
<PAGE>

                          CERTIFICATE OF NOTARY PUBLIC
                             I HEREBY CERTIFY THAT:

1. Bryce  Mitchell of Bragg Creek in the Province of Alberta,  the  guarantor in
the guarantee dated March 30, 2005 made between  Generation  Capital  Associates
and Bryce Mitchell,  which this certificate is attached to or noted on, appeared
in person before me and acknowledged that he had executed the guarantee;

2. I satisfied  myself by examination of him that he is aware of the contents of
the guarantee and understands it.

GIVEN at Calgary, Alberta this 30th day of March, 2005 under my hand and seal of
office.

                                                    /s/ Edward B. Brown
                                                    ---------------------------
                                                    A Notary Public in and for
                                                    The Province of Alberta

                                                    Edward B. Brown
                                                    Student-at-Law

                             STATEMENT OF GUARANTOR

I am the person named in this certificate.

/s/ Bryce Mitchell
-------------------------
(Signature of Guarantor)

                                                                               2
<PAGE>

                          CERTIFICATE OF NOTARY PUBLIC
                             I HEREBY CERTIFY THAT:

1. Paul  Hookham of Edmonton in the  Province of Alberta,  the  guarantor in the
guarantee dated March 30, 2005 made between  Generation  Capital  Associates and
Paul Hookham,  which this  certificate  is attached to or noted on,  appeared in
person before me and acknowledged that he had executed the guarantee;

2. I satisfied  myself by examination of him that he is aware of the contents of
the guarantee and understands it.

GIVEN at Calgary, Alberta this 30th day of March, 2005 under my hand and seal of
office.

                                                    /s/ Edward B. Brown
                                                    ---------------------------
                                                    A Notary Public in and for
                                                    The Province of Alberta

                                                    Edward B. Brown
                                                    Student-at-Law

                             STATEMENT OF GUARANTOR

I am the person named in this certificate.

/s/ Paul Hookham
------------------------
(Signature of Guarantor)

                                                                               3

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