Document:

Exhibit
10.2

AMENDED
AND RESTATED PROMISSORY NOTE

	
  US $5,600,000

  	
  March 31, 2007

  

 

FOR VALUE RECEIVED,
Commodore Resources, Inc., a Delaware corporation (“Maker”), promises to pay to
the order of The John Buckman and Jan Hanford Trust (“Payee”), at the address
for Payee set forth in Section 9 or at such address as the holder of this
Promissory Note (this “Note”) may designate from time to time in writing to
Maker, the principal amount of FIVE MILLION SIX HUNDRED THOUSAND DOLLARS (US$5,600,000.00);
provided, that by accepting this Note
Payee acknowledges that the principal amount stated above has been and will be
offset as set forth in Section 6 below such that, as of the date of this Note,
the principal amount outstanding is FIVE MILLION THREE HUNDRED NINETY SIX THOUSAND
FOUR HUNDRED EIGHTY FOUR DOLLARS AND TWENTY FIVE CENTS (US $5,396,484.25).

1.             Interest.  For the period beginning on and including May
12, 2005, and ending on but excluding November 12, 2008 (the “Maturity Date”),
interest on the principal balance hereof shall accrue at the lesser of ten
percent (10%) per annum or the Maximum Lawful Rate (as hereinafter defined); provided, that if Maker fails to make any payment required
pursuant to Section 2 below on or before the due date of such payment (any such
payment being referred to herein as a “Late Payment”), interest on the
principal balance outstanding under this Note for the period beginning on and
including May 12, 2007 (the “Initial Payment Date”), and ending on but excluding
the Maturity Date, shall accrue at the lesser of twelve percent (12%) per annum
or the Maximum Lawful Rate, regardless of whether such Late Payment applies to
the payment due on the Initial Payment Date, the Second Payment Date (as
defined in Section 2 below) or the Maturity Date.  Interest shall be calculated hereunder on the
basis of actual days elapsed and computed as if each calendar year consisted of
365 days.

2.             Payment Schedule.  The outstanding principal balance of this
Note and interest thereon shall be paid as follows:

(a)           a payment in the amount of ONE MILLION DOLLARS ($1,000,000) (the “Initial
Payment Amount”), to be applied to the accrued but unpaid interest on the Note
up to and including May 11, 2007 (the “Initial Payment Date Interest”), shall
be paid by Maker to Payee on the Initial Payment Date; provided,
however, that in the event the Initial
Payment Date Interest exceeds the amount of the Initial Payment Amount, such
excess shall thereafter be added to the principal amount outstanding under the
Note (the “First Additional Principal Amount”) and interest shall begin
accruing on such First Additional Principal Amount, at the appropriate rate set
forth in Section 1 above, for the period beginning on and including the Initial
Payment Date, and ending on but excluding the Maturity Date; provided, further, that
in the event the Initial Payment Date Interest is less than the amount of the
Initial Payment Amount, the outstanding principal amount under the Note on the
Initial Payment Date shall be reduced by the amount by which the Initial
Payment Amount exceeds the Initial Payment Date Interest.

(b)           a payment in an amount equal to one-quarter of the outstanding
principal and accrued but unpaid interest on the Note up to and including
February 11, 2008 (the “Second Payment Amount”), to be applied to the accrued
but unpaid interest on the Note

outstanding
up to and including February 11, 2008 (the “Second Payment Date Interest”),
shall be paid by Maker to payee on February 12, 2008 (the “Second Payment Date”);
provided, however,
that in the event the Second Payment Date Interest exceeds the amount of the
Second Payment Amount, such excess shall thereafter be added to the principal
amount outstanding under the Note (the “Second Additional Principal Amount”)
and interest shall begin accruing on such Second Additional Principal Amount,
at the appropriate rate set forth in Section 1 above, for the period beginning
on and including the Second Payment Date, and ending on but excluding the
Maturity Date; provided, further,
that in the event the Second Payment Date Interest is less than the amount of
the Second Payment Amount, the outstanding principal amount under the Note on
the Second Payment Date shall be reduced by the amount by which the Second
Payment Amount exceeds the Second Payment Date Interest.

(c)           a final payment of all principal and accrued but unpaid interest
remaining outstanding on the Note up to but excluding the Maturity Date, to be
paid by Maker to Payee on the Maturity Date.

3.             Prepayment Option.  Maker shall have the right to prepay this
Note in whole or in part at any time without penalty or premium.  The payments on this Note shall be applied
first to accrued but unpaid interest, if any, and then to principal.

4.             Related Agreements.  This Note is being entered into in connection
with that certain Stock Purchase Agreement, dated as of May 6, 2005 (the “Purchase
Agreement”), by and among Maker, Payee, Lyris Technologies, Inc., a Delaware
corporation (the “Company”), John Buckman, Jan Hanford and J.L. Halsey
Corporation (for certain limited purposes contained therein), pursuant to
which, among other things, Maker is purchasing all of the outstanding capital
stock of the Company from Payee.  This
Note and the Purchase Agreement are collectively referred to herein as the “Transaction
Documents.”  Terms having their initial
letters capitalized and not defined herein have the meanings ascribed to them
in the Purchase Agreement.

5.             Subordination.

(a)           Payee (by its
acceptance hereof) acknowledges and agrees that the indebtedness evidenced by
this Note is subordinate and subject in right of payment, priority and
collection to any secured indebtedness of Maker (the “Senior Indebtedness”).  Notwithstanding the immediately preceding
sentence, Payee shall be entitled to receive the payment of principal and
interest under and in strict accordance with the terms and conditions of this
Note, provided that no Event of Default (as defined in the agreements governing
the Senior Indebtedness) has occurred under the agreements governing the Senior
Indebtedness which is continuing or would exist immediately after giving effect
to such payment.  Maker agrees promptly
to notify Payee of the occurrence of any Event of Default upon receipt of
notice of the Event of Default from the lender under the Senior Indebtedness.

(b)           Maker covenants and
agrees that it will not incur Senior Indebtedness that exceeds 3.5 times the
trailing twelve month EBITDA of the Company. 
As used in this Note, “EBITDA” means the consolidated earnings of the
Company before interest, taxes, depreciation

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and amortization, as derived from the Financial
Statements; provided, that any calculation of EBITDA for purposes of this Note
shall exclude (without duplication):  (i)
any expenses incurred in connection with the transactions contemplated by the
Purchase Agreement; (ii) any payments (whether in the form of principal,
interest or otherwise) to any provider to the Company of financing in
connection with (A) the consummation of the transactions contemplated by the
Purchase Agreement, (B) any recapitalization or reorganization of the Company,
(C) any merger or acquisition transaction, or (D) providing working capital
following the closing of the transactions contemplated by the Purchase
Agreement (the “Closing”), and any expenses incurred in connection with any of
the foregoing; (iii) any extraordinary expenses and losses; (iv) if, after the
Closing, new accounting, computer or other office information technology
systems, or major changes in any existing information technology systems or
operations, are introduced, the cost of such systems or changes and any
expenses associated therewith; (v) any net losses in respect of asset
dispositions other than sales of inventory in the ordinary course of business;
(vi) any charges for equity-based compensation (including, without limitation,
for employee stock options); and (vii) any Indemnifiable Losses incurred by
Purchaser pursuant to Article 11 of the Purchase Agreement and any
indemnification payments received related thereto.  As used in this Note, “incur” means, with
respect to any debt or other obligation of any Person, to create, issue, incur
(by merger, conversion, exchange or otherwise), extend, assume, guarantee or
become liable in respect of such debt or other obligation or the recording, as
required pursuant to GAAP or otherwise, of any such debt or obligation on the
balance sheet of such Person; provided, however, that a change in GAAP that
results in an obligation of such Person that exists at such time, and is not
theretofore classified as debt, becoming debt shall not be deemed an incurrence
of such debt.

6.             Right of Offset.  Payee (by its acceptance hereof) acknowledges
and agrees that Maker (i) has offset the principal amount outstanding under the
Note by amounts paid on March 30, 2006, October
16, 2006 and January 19, 2007,  pursuant to
that certain License Agreement between Digital Impact, Inc. and Maker dated May
6, 2005 (the “License Agreement”), in the amounts of  one
hundred three thousand seven hundred sixty dollars ($103,760),
twenty three thousand two hundred fifty five dollars ($23,255) and seventy-six
thousand five hundred dollars and twenty-five cents ($76,500.25), respectively,
and (ii) shall have the further right at any time and from time to time to
set-off any and all indebtedness owing to Payee then outstanding under this
Note against, and reduce the amount of indebtedness owing to Payee then
outstanding under this Note by an amount equal to ninety four thousand nine
hundred fifty three dollars ($94,953), which amount is acknowledged and agreed
to by Payee and Maker as the total to be paid by the Company through the period
ending March 31, 2007, pursuant to the License Agreement.

7.             Unsecured Note.  Maker and Payee (by its acceptance hereof)
acknowledge and agree that this Note is not secured by any mortgage, lien,
pledge, charge, financing statement, security interests, hypothecation, or
other security device of any type, other than the Guaranty of Payment executed
as of the date hereof by J.L. Halsey Corporation.

8.             Assignment
Prohibited.  Payee may not assign its
interest in this Note; provided, however, that Payee may assign its interest in
this Note to John Buckman or Jan Hanford.

9.             Notices.  All notices and other communications required
or permitted hereunder will be in writing and will be deemed to have been duly
given when delivered in person or when

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dispatched by electronic facsimile transfer or one
business day after having been dispatched by an internationally recognized
overnight courier service to the appropriate person at the address specified
below:

	
   

  	
  If to Payee:

  	
  c/o John Buckman

  
	
   

  	
   

  	
  2735 Fulton Street

  
	
   

  	
   

  	
  Berkeley, California 94705-1031

  
	
   

  	
   

  	
   

  
	
   

  	
  with a copy to:

  	
  Higham, McConnell & Dunning LLP

  
	
   

  	
   

  	
  15 Enterprise, Suite 360

  
	
   

  	
   

  	
  Aliso Viejo, CA 92656

  
	
   

  	
   

  	
  Attention:   Curt C. Barwick

  
	
   

  	
   

  	
  Telecopy No.: 949-900-4403

  
	
   

  	
   

  	
   

  
	
   

  	
  If to Maker:

  	
  J. L. Halsey Corporation

  
	
   

  	
   

  	
  103 Foulk Road, Suite 205-Q

  
	
   

  	
   

  	
  Wilmington, Delaware 19803

  
	
   

  	
   

  	
  Attention: Richard A. McDonald

  
	
   

  	
   

  	
  Telecopy No.:  (978) 945-5992

  
	
   

  	
   

  	
   

  
	
   

  	
  with a copy to:

  	
  Vinson & Elkins L.L.P.

  
	
   

  	
   

  	
  3700 Trammell Crow Center

  
	
   

  	
   

  	
  2001 Ross Avenue

  
	
   

  	
   

  	
  Dallas, Texas 75201

  
	
   

  	
   

  	
  Attention:   Michael D. Wortley

  
	
   

  	
   

  	
  Telecopy No.:  (214) 999-7732

  
	
   

  	
   

  	
   

  
	
   

  	
  with a copy to:

  	
  Lyris Technologies, Inc.

  
	
   

  	
   

  	
  5858 Horton St., Suite 270

  
	
   

  	
   

  	
  Emeryville, CA 94608

  
	
   

  	
   

  	
  Attention: Luis Rivera

  
	
   

  	
   

  	
  Telecopy No. 510-844-1598

  

 

or to such other address or addresses as any such
Person may from time to time designate as to itself by like notice to the other
party.

10.           Governing Law;
Jurisdiction.  This Note shall be
governed by and construed in accordance with the laws of the State of Delaware
without regard to the conflicts of laws provisions thereof.  Maker hereby irrevocably and unconditionally
consents to submit to the exclusive jurisdiction of the courts of the State of
California and the courts of the United States of America located in Alameda
County, State of California for any litigation arising out of or relating to
this Note or the transactions contemplated hereby or any of the other
transactions contemplated hereby (and agrees not to commence any litigation
relating hereto except in such courts), and further agrees that service of any
process, summons, notice or document by U.S. registered mail to its respective
address set forth in Section 9 shall be effective service of process for any
litigation brought against it in any such court.  Maker hereby irrevocably and 

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unconditionally waives any objection to the laying of
venue of any litigation arising out of this Note or the transactions
contemplated hereby or any of the other transactions contemplated hereby in the
courts of the State of California or the courts of the United States of America
located in Alameda County, State of California and hereby further irrevocably and
unconditionally waives and agrees not to plead or claim in any such court that
any such litigation brought in any such court has been brought in an
inconvenient forum.  Each of Maker and
Payer hereby irrevocably and unconditionally waives any right it may have to
trial by jury in connection with any litigation arising out of or relating to
this Note, the transactions contemplated hereby or any of the other
transactions contemplated hereby. 
Reasonable attorneys’ fees and out-of-pocket costs incurred by Payee in
the event of the initiation of any suit by Payee under or in connection with
this Note shall be paid by Maker if such action is successful; provided
that, if such action is not successful, reasonable attorneys’ fees and
out-of-pocket costs incurred by Maker in connection therewith shall be paid by
Payee.

11.           Compliance with Laws.  It is expressly stipulated and agreed to be
the intent of Maker and Payee to at all times comply with the usury and other
laws applicable to the Transaction Documents and any subsequent revisions,
repeals, or judicial interpretations thereof, to the extent any of the same are
applicable hereto.  If such laws are ever
revised, repealed, or judicially interpreted so as to render usurious any
amount called for under the Transaction Documents, or contracted for, charged,
or received with respect to the indebtedness evidenced by this Note, then it is
Maker’s and Payee’s express intent that all excess amounts theretofore
collected by Payee be credited on the principal balance of this Note (or, if
this Note has been paid in full, refunded to Maker), and the provisions of the
Transaction Documents immediately be deemed reformed and the amounts thereafter
collectable hereunder and thereunder reduced, without the necessity of the execution
of any new document, so as to comply with the then applicable law, but so as to
permit the recovery of the fullest amount otherwise called for hereunder and
thereunder.  As used herein, “Maximum
Lawful Rate” means the maximum rate (or, if the context so permits or requires,
an amount calculated at such rate) of interest which, at the time in question
would not cause the interest charged on this Note at such time to exceed the
maximum amount which the Payee would be allowed to contract for, charge, take,
reserve, or receive under applicable law (including the “Cost of Money”
limitations pursuant to Section 107.855 of Title 13 of the United States Code
of Federal Regulations) after taking into account, to the extent required by
applicable law, any and all relevant payments or charges under the Transaction
Documents.

12.           Amendment
and Restatement.  This Note amends
and restates in its entirety that certain promissory note, dated May 12, 2005,
made by Maker to Payee (the “Original Note”), and such Original Note is
hereinafter cancelled and of no force or effect.

[Remainder of Page
Intentionally Left Blank]

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EXECUTED as of the date first written above.

	
   

  	
  MAKER:

  
	
   

  	
   

  
	
   

  	
  COMMODORE RESOURCES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A. McDonald

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title: 

  	
  President

  
					

 

 S-1Exhibit
10.3

SUBORDINATION
AGREEMENT

This Subordination Agreement is made as of March 31,
2007 by and between the undersigned (“Creditor”), and Comerica Bank (“Bank”).

Recitals

A.            COMMODORE
RESOURCES (NEVADA), INC., LYRIS TECHNOLOGIES INC., UPTILT INC., MCC NEVADA,
INC., CLICKTRACKS ANALYTICS, INC., ADMIRAL MANAGEMENT COMPANY and J.L. HALSEY
CORPORATION (each a “Borrower” and collectively, “Borrowers”) have requested
and/or obtained certain loans or other credit accommodations from Bank which
are or may be from time to time secured by all assets and property of Borrowers.

B.            Creditor
has extended loans or other credit accommodations to one or more Borrowers,
and/or may extend loans or other credit accommodations to one or more Borrowers
from time to time.

C.            In
order to induce Bank to extend credit to Borrowers and, at any time or from
time to time, at Bank’s option, to make such further loans, extensions of
credit, or other accommodations to or for the account of Borrowers, or to
purchase or extend credit upon any instrument or writing in respect of which a Borrower
may be liable in any capacity, or to grant such renewals or extension of any
such loan, extension of credit, purchase, or other accommodation as Bank may
deem advisable, Creditor is willing to subordinate:  (i) all of the Borrowers’ indebtedness
and obligations to Creditor, whether presently existing or arising in the
future (the “Subordinated Debt”) to all of the Borrowers’ indebtedness
and obligations to Bank; and (ii) all of Creditor’s security interests, if
any, to all of Bank’s security interests in the Borrowers’ property.

NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:

1.             Creditor subordinates
to Bank any security interest or lien that Creditor may have in any property of
any of the Borrowers.  Notwithstanding
the respective dates of attachment or perfection of the security interest of
Creditor and the security interest of Bank, the security interest of Bank in
the Collateral, as defined in that certain Loan and Security Agreement dated as
of October 4, 2005, as may subsequently be amended from time to time, including
but not limited to by that certain First Amendment to Loan and Security
Agreement dated as of April 25, 2006, 
that certain Second Amendment to Loan and Security Agreement dated as of
August 18, 2006, that certain Third Amendment to Loan and Security Agreement
dated as of November 30, 2006, that certain Fourth Amendment to Loan and
Security Agreement dated as of January 30, 2007 and that certain Fifth
Amendment to Loan and Security Agreement dated as of March 31, 2007 (the “Loan
Agreement”), shall at all times be prior to the security interest of
Creditor.

2.             All Subordinated Debt
is subordinated in right of payment to all obligations of the Borrowers to Bank
now existing or hereafter arising, together with all costs of collecting such
obligations (including attorneys’ fees), including, without limitation, all
interest accruing after the commencement by or against a Borrower of any
bankruptcy, reorganization or similar proceeding, and all obligations under the
Security Agreements (the “Senior Debt”).

3.             Creditor will not
demand or receive from a Borrower (and no Borrower will pay to Creditor) all or
any part of the Subordinated Debt, by way of payment, prepayment, setoff,
lawsuit or otherwise, nor will Creditor exercise any remedy with respect to the
Collateral, nor will Creditor commence, or cause to commence, prosecute or
participate in any administrative, legal or equitable action against a Borrower,
for so long as any portion of the Senior Debt remains outstanding.  Notwithstanding the foregoing, Creditor shall
be entitled to receive each regularly scheduled payment of principal and interest
under and in strict accordance with the terms and conditions of that certain
Promissory Note made by COMMODORE RESOURCES (NEVADA), INC. in favor of Creditor,
in the original principal amount of Five Million Six Hundred Thousand Dollars
($5,600,000) dated as of March 31, 2007, provided that no Event of Default (as
defined in the Loan Agreement) has occurred under the Loan Agreement which is
continuing or would exist immediately after giving effect to such payment.

4.             Creditor shall
promptly deliver to Bank in the form received (except for endorsement or
assignment by Creditor where required by Bank) for application to the Senior
Debt any payment, distribution, security or proceeds received by Creditor with
respect to the Subordinated Debt other than in accordance with this Agreement.

5.             In the event of a Borrower’s
insolvency, reorganization or any case or proceeding under any bankruptcy or
insolvency law or laws relating to the relief of debtors, these provisions
shall remain in full force and effect, and Bank’s claims against such Borrower and
the estate of such Borrower shall be paid in full before any payment is made to
Creditor.

6.             For so long as any of
the Senior Debt remains unpaid, Creditor irrevocably appoints Bank as Creditor’s
attorney-in-fact, and grants to Bank a power of attorney with full
power of substitution, in the name of Creditor or in the name of Bank, for the
use and benefit of Bank, without notice to Creditor, to perform at Bank’s
option the following acts in any bankruptcy, insolvency or similar proceeding
involving Borrower:

(i)            To file the appropriate claim or claims in
respect of the Subordinated Debt on behalf of Creditor if Creditor does not do
so prior to 30 days before the expiration of the time to file claims in such
proceeding and if Bank elects, in its sole discretion, to file such claim or
claims; and

(ii)           To accept or reject any plan of
reorganization or arrangement on behalf of Creditor and to otherwise vote
Creditor’s claims in respect of any Subordinated Debt in any manner that Bank
deems appropriate for the enforcement of its rights hereunder.

7.             Creditor shall immediately
affix a legend to the instruments evidencing the Subordinated Debt stating that
the instruments are subject to the terms of this Agreement.  No amendment of the documents evidencing or
relating to the Subordinated Debt shall directly or indirectly modify the
provisions of this Agreement in any manner which might terminate or impair the
subordination of the Subordinated Debt or the subordination of the security
interest or lien that Creditor may have in any property of a Borrower.  By way of example, such instruments shall not
be amended to (i) increase the rate of interest with respect to the
Subordinated Debt, or (ii) accelerate the payment of the principal or interest
or any other portion of the Subordinated Debt.

8.             This Agreement shall
remain effective for so long as the Borrowers owe any amounts to Bank under the
Loan Agreement, the Guaranty, the Third Party Security Agreement or
otherwise.  If, at any time after payment
in full of the Senior Debt any payments of the Senior Debt must be disgorged by
Bank for any reason (including, without limitation, the bankruptcy of a Borrower),
this Agreement and the relative rights and priorities set forth herein shall be
reinstated as to all such disgorged payments as though such payments had not
been made and Creditor shall immediately pay over to Bank all payments received
with respect to the Subordinated Debt to the extent that such payments would
have been prohibited hereunder.  At any
time and from time to time, without notice to Creditor, Bank may take such
actions with respect to the Senior Debt as Bank, in its sole discretion, may
deem appropriate, including, without limitation, terminating advances to
Borrowers, increasing the principal amount, extending the time of payment,
increasing applicable interest rates, renewing, compromising or otherwise
amending the terms of any documents affecting the Senior Debt and any
collateral securing the Senior Debt, and enforcing or failing to enforce any
rights against a Borrower or any other person. 
No such action or inaction shall impair or otherwise affect Bank’s
rights hereunder.  Creditor waives the
benefits, if any, of Civil Code Sections 2809, 2810, 2819, 2845, 2847, 2848,
2849, 2850, 2899 and 3433.

9.             This Agreement shall
bind any successors or assignees of Creditor and shall benefit any successors
or assigns of Bank.  This Agreement is
solely for the benefit of Creditor and Bank and not for the benefit of the Borrowers
or any other party.  Creditor further
agrees that if a Borrower is in the process of refinancing a portion of the
Senior Debt with a new lender, and if Bank makes a request of Creditor,
Creditor shall agree to enter into a new subordination agreement with the new
lender on substantially the terms and conditions of this Agreement.

10.           This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original
and all of which together shall constitute one instrument.

11.           CHOICE OF LAW AND
VENUE; JURY TRIAL WAIVER.

This Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of California, without regard
to principles of conflicts of law.  Each
of Creditor and Bank hereby submits to the exclusive jurisdiction of the state
and Federal courts located in the County of Santa Clara, State of
California.  THE UNDERSIGNED ACKNOWLEDGE
THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE
WAIVED UNDER CERTAIN CIRCUMSTANCES.  TO
THE EXTENT PERMITTED BY LAW, EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE
OPPORTUNITY TO CONSULT) WITH COUNSEL OF ITS, HIS OR HER CHOICE, KNOWINGLY AND
VOLUNTARILY, AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, WAIVES ANY RIGHT TO
TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS
AGREEMENT OR ANY OTHER DOCUMENT, INSTRUMENT OR AGREEMENT BETWEEN THE
UNDERSIGNED PARTIES.

12.           REFERENCE PROVISION.

In the event the Jury
Trial Waiver set forth above is not enforceable, the parties elect to proceed
under this Judicial Reference Provision.

12.1         Mechanics.

(a)           With the exception of the
items specified in clause (b), below, any controversy, dispute or claim (each,
a “Claim”) between the parties arising out of or relating to this Agreement or
any other document, instrument or agreement between the undersigned parties
(collectively in this Section, the “Comerica Documents”), will be resolved by a
reference proceeding in California in accordance with the provisions of
Sections 638 et seq. of the California Code of Civil Procedure (“CCP”), or
their successor sections, which shall constitute the exclusive remedy for the
resolution of any Claim, including whether the Claim is subject to the
reference proceeding. Except as otherwise provided in the Comerica Documents,
venue for the reference proceeding will be in the state or federal court in the
county or district where the real property involved in the action, if any, is
located or in the state or federal court in the county or district where venue
is otherwise appropriate under applicable law (the “Court”).

(b)           The matters that shall
not be subject to a reference are the following: (i) nonjudicial foreclosure of
any security interests in real or personal property, (ii) exercise of self-help
remedies (including, without limitation, set-off), (iii) appointment of a
receiver and (iv) temporary, provisional or ancillary remedies (including,
without limitation, writs of attachment, writs of possession, temporary
restraining orders or preliminary injunctions). This reference provision does
not limit the right of any party to exercise or oppose any of the rights and
remedies described in clauses (i) and (ii) or to seek or oppose from a court of
competent jurisdiction any of the items described in clauses (iii) and (iv).
The exercise of, or opposition to, any of those items does not waive the right
of any party to a reference pursuant to this reference provision as provided
herein.

(c)           The referee shall be a
retired judge or justice selected by mutual written agreement of the parties.
If the parties do not agree within ten (10) days of a written request to do so
by any party, then, upon request of any party, the referee shall be selected by
the Presiding Judge of the Court (or his or her representative). A request for
appointment of a referee may be heard on an ex parte or expedited basis, and
the parties agree that irreparable harm would result if ex parte relief is not
granted.  Pursuant to CCP § 170.6, each
party shall have one peremptory challenge to the referee selected by the
Presiding Judge of the Court (or his or her representative).

(d)           The parties agree that
time is of the essence in conducting the reference proceedings. Accordingly,
the referee shall be requested, subject to change in the time periods specified
herein for good cause shown, to (i) set the matter for a status and
trial-setting conference within fifteen (15) days after the date of selection
of the referee, (ii) if practicable, try all issues of law or fact within one
hundred twenty (120) days after the date of the conference and (iii) report a
statement of decision within twenty (20) days after the matter has been
submitted for decision.

(e)           The referee will have
power to expand or limit the amount and duration of discovery.  The referee may set or extend discovery
deadlines or cutoffs for good cause, including a party’s failure to provide
requested discovery for any reason whatsoever. Unless otherwise ordered based
upon good cause shown, no party shall be entitled to “priority” in conducting
discovery, depositions may be taken by either party upon seven (7) days written
notice, and all other discovery shall be responded to within fifteen (15) days
after service. All disputes relating to discovery which cannot be resolved by
the parties shall be submitted to the referee whose decision shall be final and
binding.

12.2         Procedures.  Except as expressly set forth herein, the
referee shall determine the manner in which the reference proceeding is
conducted including the time and place of hearings, the order of presentation
of evidence, and all other questions that arise with respect to the course of
the reference proceeding.  All
proceedings and hearings conducted before the referee, except for trial, shall
be conducted without a court reporter, except that when any party so requests,
a court reporter will be used at any hearing conducted before the referee, and
the referee will be provided a courtesy copy of the transcript. The party
making such a request shall have the obligation to arrange for and pay the
court reporter. Subject to the referee’s power to award costs to the prevailing
party, the parties will equally share the cost of the referee and the court
reporter at trial.

12.3         Application
of Law.  The referee shall be
required to determine all issues in accordance with existing case law and the
statutory laws of the State of California. The rules of evidence applicable to
proceedings at law in the State of California will be applicable to the
reference proceeding. The referee shall be empowered to enter equitable as well
as legal relief, enter equitable orders that will be binding on the parties and
rule on any motion which would be authorized in a court proceeding, including
without limitation motions for summary judgment or summary adjudication. The
referee shall issue a decision at the close of the reference proceeding which
disposes of all claims of the parties that are the subject of the
reference.  Pursuant to CCP § 644, such
decision shall be entered by the Court as a judgment or an order in the same
manner as if the action had been tried by the Court and any such decision will
be final, binding and conclusive.  The
parties reserve the right to appeal from the final judgment or order or from
any appealable decision or order entered by the referee.  The parties reserve the right to findings of
fact, conclusions of laws, a written statement of decision, and the right to
move for a new trial or a different judgment, which new trial, if granted, is
also to be a reference proceeding under this provision.

12.4         Repeal.  If the enabling legislation which provides
for appointment of a referee is repealed (and no successor statute is enacted),
any dispute between the parties that would otherwise be determined by reference
procedure will be resolved and determined by arbitration.   The arbitration will be conducted by a
retired judge or justice, in accordance with the California Arbitration Act
§1280 through §1294.2 of the CCP as amended from time to time. The limitations
with respect to discovery set forth above shall apply to any such arbitration
proceeding.

12.5         THE
PARTIES RECOGNIZE AND AGREE THAT ALL CONTROVERSIES, DISPUTES AND CLAIMS
RESOLVED UNDER THIS REFERENCE PROVISION WILL BE DECIDED BY A REFEREE AND NOT BY
A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH
COUNSEL OF ITS, HIS OR HER OWN CHOICE, EACH PARTY KNOWINGLY AND VOLUNTARILY,
AND FOR THE MUTUAL BENEFIT OF ALL PARTIES, AGREES THAT THIS REFERENCE PROVISION
WILL APPLY TO ANY CONTROVERSY, DISPUTE OR CLAIM BETWEEN OR AMONG THEM ARISING
OUT OF OR IN ANY WAY RELATED TO, THIS AGREEMENT OR THE OTHER COMERICA DOCUMENTS.

13.           This Agreement
represents the entire agreement with respect to the subject matter hereof, and
supersedes all prior negotiations, agreements and commitments.  Creditor is not relying on any
representations by Bank or Borrower in entering into this Agreement, and
Creditor has kept and will continue to keep itself fully apprised of the
financial and other condition of Borrower. 
This Agreement may be amended only by written instrument signed by
Creditor and Bank.

14.           In the event of any
legal action to enforce the rights of a party under this Agreement, the party
prevailing in such action shall be entitled, in addition to such other relief
as may be granted, all reasonable costs and expenses, including reasonable
attorneys’ fees, incurred in such action.

15.           This Agreement
represents the entire agreement with respect to the subject matter hereof, and
supersedes all prior negotiations, agreements and commitments.  Creditor is not relying on any representations
by Bank or the Borrowers in entering into this Agreement, and Creditor has kept
and will continue to keep itself fully apprised of the financial and other
condition of the Borrowers.  This
Agreement may be amended only by written instrument signed by Creditor and
Bank.

16.           In the event of any
legal action to enforce the rights of a party under this Agreement, the party
prevailing in such action shall be entitled, in addition to such other relief
as may be granted, all reasonable costs and expenses, including reasonable
attorneys’ fees, incurred in such action.

IN WITNESS
WHEREOF, the undersigned have executed this Agreement as of the date first
above written.

	
  

  	
  “Creditor”

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE JOHN BUCKMAN AND JAN HANFORD TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/John Buckman

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  “Bank”

  
	
   

  	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/Philip
  Koblis

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  First Vice President

  
					

 

The undersigned approves of the terms of this Agreement.

	
  

  	
  “Borrowers”

  
	
   

  	
   

  
	
   

  	
  COMMODORE RESOURCES (NEVADA), INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Richard A. McDonald

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LYRIS TECHNOLOGIES INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Luis Rivera

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  CEO & President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  UPTILT RESOURCES INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Luis Rivera

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  CEO & President

  

 

 

	
  

  	
  MCC NEVADA, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A. McDonald

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Secretary & Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CLICKTRACKS ANALYTICS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Luis Rivera

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Secretary & Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  J.L. HALSEY CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Luis Rivera

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  CEO & President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ADMIRAL MANAGEMENT COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  s/ Richard A. McDonald

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Secretary & Treasurer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}]]