Document:

Exhibit 10.2

 

Amendment
to Share Transfer Agreement

 

This Amendment,
dated the 2 day of July, 2012 (the “Amendment”), to the Share Transfer
Agreement, dated as of the 7th day of June, 2012 (the “Agreement”), is made and entered
into between the shareholders specified in Appendix 1.1. to the Agreement of POC Sweden
AB, reg. no. 556665-5352, a Swedish corporation
(the “Company”), Ember Scandinavia AB, reg. no.
556891-5580, a Swedish corporation (“Purchaser”) and wholly owned subsidiary of Black
Diamond, Inc., a Delaware corporation (“Black Diamond”). Unless otherwise defined herein, all
capitalized terms used in this Amendment shall have the meaning ascribed to such terms in the Agreement.

 

Recital

 

Whereas,
the Agreement previously provided that the shares of common stock, $0.0001 par value, of Black Diamond (the “Black Diamond
Common Stock”) comprising the Purchaser Payment Shares to be issued to the Sellers were to be registered under the Registration
Statement;

 

Whereas,
the Parties have agreed to amend the Agreement to provide that the shares of Black Diamond Common Stock comprising the Purchaser
Payment Shares to be issued to the Sellers not be registered under the Registration Statement or the Securities Act;

 

Whereas,
each of the Sellers acknowledges that if the shares of Black Diamond Common Stock comprising the Purchaser Payment Shares are not
registered under the Registration Statement or the Securities Act, then such shares cannot be resold by the Sellers without registration
under the Securities Act or an available exemption therefrom; and

 

Whereas,
the Parties desire to amend the Agreement subject to the terms hereof.

 

Now,
Therefore, in consideration of the mutual promises contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto amend the
Agreement as follows:

 

Terms
of Amendment

 

Section
1.Amendment to Section 5.8 of the Agreement (Purchaser Payment Shares). Section 5.8 of the Agreement is
hereby amended and restated in its entirety as follows:

 

		5.8	Purchaser Payment Shares

 

		5.8.1	When issued, the Purchaser Payment Shares shall be duly authorized, validly issued, fully paid
and non-assessable and free and clear of any liens, other than liens created by Sellers.

	 	 	 
		5.8.2	The offer and sale of the shares of Black Diamond Common Stock comprising the Purchaser Payment
Shares to the Sellers is being made as a private placement in reliance on exemptions from the registration requirements of United
States federal and state securities laws under Section 4(2) and/or Section 4(6) of the Securities Act, and under Regulation S and/or
Regulation D, each as promulgated under the Securities Act.

    	1

    	 

    

		5.8.3	Each Seller receiving Purchaser Payment Shares acknowledges and recognizes, and covenants and agrees
with the Purchaser and Black Diamond that they are acquiring the Purchaser Payment Shares for their own respective account and
each of such Sellers acknowledges, covenants and agrees that the shares of Black Diamond Common Stock comprising the Purchaser
Payment Shares have not been registered under the Securities Act, or registered or qualified for sale under any state “blue
sky” laws (as such term is understood in the US capital markets) or any foreign securities laws, and such Seller will not
sell, transfer, or otherwise dispose of any of the Purchaser Payment Shares or any interest therein, except pursuant registration
under the Securities Act or an applicable exemption therefrom, and applicable state “blue sky” laws or any foreign
securities laws, or in a transaction which in the opinion of counsel reasonably acceptable to Black Diamond is exempt therefrom,
but subject in any case to the terms of the Lock-Up Agreement.

	 	 	 
		5.8.4	Each of the Sellers is either: (i) an “accredited investor” as such term is defined
in the rules promulgated under the Securities Act; or (ii) not a “U.S. person” as such term is defined in the rules
promulgated under the Securities Act and at the time of the origination of contact concerning the Agreement and the date of the
execution and delivery of the Agreement, such Seller was outside of the United States. Each of the Sellers hereby covenants and
agrees it has not and will not offer, sell, pledge, or otherwise transfer the Purchaser Payment Shares or engage in any short selling
of or any hedging transaction with respect to the Purchaser Payment Shares, including without limitation, any put, call or other
option transaction, option writing or equity swap, in the United States, or to a “U.S. person” for the account or benefit
of a “U.S. person”, or otherwise in a manner that is not in compliance with the Securities Act or any state “blue
sky laws”, it being understood that Rule 144 under the Securities Act is available to the Sellers as a mechanism to sell
the Purchaser Payment Shares without registration under the Securities Act, but subject to the terms of such Rule 144 and the Lock-Up.

	 	 	 
		5.8.5	Each of such Sellers further acknowledges that such Seller has the knowledge and experience in
financial and business matters as to be capable of evaluating the merits and risk of an investment in the Purchaser Payment Shares
and confirms, covenants and agrees that such Seller has obtained, in its judgment, sufficient information from the Purchaser/Black
Diamond to evaluate the merits and risks of an investment in the Purchaser Payment Shares. Each of such Sellers acknowledges and
agrees that it has been provided the opportunity to obtain information and documents concerning Black Diamond and the Purchaser
Payment Shares, and has been given the opportunity to ask questions of, and receive answers from, Black Diamond directors and officers
concerning Black Diamond and the Purchaser Payment Shares and other matters related to this investment. Each of such Sellers acknowledges
and agrees that it is aware of the risks inherent in an investment in Black Diamond and specifically the risks of an investment
in the Purchaser Payment Shares. In addition, each of such Sellers is aware and acknowledges that there can be no assurance of
the future viability or profitability of Black Diamond, nor can there be any assurance relating to the current or future price
or value of the Purchaser Payment Shares, or market conditions generally. Each of the Sellers hereby covenants and agrees to promptly
notify Black Diamond/Purchaser of any planned sale of Purchaser Payment Shares and that all such sales will – as set out
in the Lock-Up Agreement – be subject to the prior written approval of Black Diamond during a certain time but after that
time Black Diamond’s approval would however not be required but instead such Sellers agree and covenant to notify Black Diamond
reasonably in advance of the planned sale and such Sellers also agree and covenant to on a reasonable basis consult and cooperate
with Black Diamond, in order to maintain an orderly trading market for Black Diamond’s shares. Each of such Sellers further
covenants and agrees to comply with the Securities Act, the Exchange Act, and any other applicable law in connection with any such
sales.

    	2

    	 

    

		5.8.6	Each of the Sellers understands and acknowledges that: (a) the shares of Black Diamond Common Stock
comprising the Purchaser Payment Shares have not been registered under the Securities Act; (b) the representations and warranties
contained in Sections 5.8.3, 5.8.4 and 5.8.5 (the “Investor Representations”) are being relied
upon by Black Diamond as a basis for exemption of the sale of the shares of Black Diamond Common Stock comprising the Purchaser
Payment Shares under the Securities Act; (c) the offering of the shares of Black Diamond Common Stock comprising the Purchaser
Payment Shares pursuant to this Agreement when issued will not be registered under the Securities Act on the ground that the sale
provided for in this Agreement and the issuance of securities hereunder is exempt from the registration requirements of the Securities
Act; and (d) no U.S. or foreign agency has made any finding or determination as to the fairness of the terms of the sale of the
shares of Black Diamond Common Stock comprising the Purchaser Payment Shares or any recommendation or endorsement thereof. If any
of the representations made by any Seller in connection with its acquisition of the shares of Black Diamond Common Stock comprising
the Purchaser Payment Shares are no longer accurate prior to the Completion Date, the Sellers will promptly notify the Purchaser.

	 	 	 
		5.8.7	The Purchaser Payment Shares shall be subject to lock-up restrictions during a certain period as
set forth in the Lock-Up Agreement (the “Lock-Up”).

	 	 	 
		5.8.8	The share certificates representing the Purchaser Payment Shares shall be subject to certain transfer
restrictions and shall be endorsed with a legend substantially in the form set forth below, as well as any additional legend imposed
or required by applicable securities laws:

 

“THIS SECURITY (OR ITS
PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)
OR THE SECURITIES LAWS OF ANY U.S. STATE OR ANY FOREIGN COUNTRY, NOR IS ANY SUCH REGISTRATION CONTEMPLATED. THIS SECURITY AND ANY
SECURITY ISSUABLE UPON CONVERSION HEREOF MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION
OR AN APPLICABLE EXEMPTION THEREFROM, INCLUDING BUT NOT LIMITED TO REGULATION S AND/OR REGULATION D. HEDGING TRANSACTIONS MAY NOT
BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

 

THE
TRANSFER OF THE SECURITIES EVIDENCED HEREBY IS RESTRICTED BY THE TERMS OF A LOCK-UP AGREEMENT DATED JULY 2, 2012, BETWEEN THE REGISTERED
HOLDER HEREOF AND THE ISSUER HEREOF. A COPY OF THE LOCK-UP AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICES OF THE ISSUER. IN ADDITION,
THE SHARES OF COMMON STOCK EVIDENCED HEREBY ARE SUBJECT TO A RIGHT OF SET-OFF PURSUANT TO THE TERMS OF A SHARE TRANSFER AGREEMENT
DATED JUNE 7, 2012 BETWEEN THE REGISTERED HOLDER HEREOF AND THE ISSUER HEREOF. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL
OFFICES OF THE ISSUER”.

 

Section
2.Representations and Warranties. Each party represents and warrants to the other that (a) it has all requisite
power and authority to enter into this Amendment and to perform its obligations hereunder; (b) this Amendment has been duly authorized
by it and constitutes a legally valid and binding obligation, enforceable against it in accordance with the terms of this Amendment,
subject to the effect of any applicable Law of general application relating to bankruptcy, reorganization, insolvency, moratorium
or similar Laws affecting creditors’ rights and relief of debtors generally; and (c) the execution, delivery and performance
of this Amendment does not conflict with any law applicable to it, violate any agreement applicable to it or result in any breach
or default under, require the consent under, or give to others any rights of termination or acceleration of any right or obligation
of it.

 

Section
3.Amendment to Section 5.6 of the Agreement.

 

Section 5.6 of
the Agreement is hereby amended so that the last sentence in Section 5.6 of the Agreement is deleted. The deleted wording is shown
as follows:

[DELETED
WORDING: Each such Seller further agrees that the Purchaser Payment Shares will be delivered to such Seller, and Black
Diamond and the Purchaser agree to deliver the Purchaser Payment Shares to such Seller, 20 Business Days after such Seller’s
receipt of the prospectus that is a part of the Registration Statement, as described in section 5.8.4 (this time period shall be
coordinated with the Completion or else section 11.6.3 shall apply), subject in all respects to the pledge by such Seller of such
Purchaser Payment Shares in accordance with section 6.]

 

Section
4.Amendment to Section 11.6.3 of the Agreement.

 

Section 11.6.3
of the Agreement is hereby deleted and replaced in its entirety with a note as follows:

 

[INTENTIONALLY
LEFT BLANK]

 

Section
5.Waiver. Each of the Sellers hereby waives any claims that it may have against Purchaser or Black Diamond by virtue
of any requirement previously contained in the Agreement that had obligated the Purchaser or Black Diamond to issue to the Sellers
Purchaser Payment Shares that were registered under the Registration Statement or the Securities Act, and each such Seller acknowledges
that the Purchaser Payment Shares that are to be delivered to Sellers on the Completion are not registered under the Registration
Statement or the Securities Act at the express request of Sellers. Each of the Sellers hereby further acknowledges and agrees that
because the Purchaser Payment Shares are not registered under the Registration Statement or the Securities Act, such shares cannot
be resold by the Sellers without registration under the Securities Act or an available exemption therefrom.

 

Section
6.Agreement in Full Force and Effect. Except as amended hereby the Agreement is hereby ratified, approved and confirmed,
and remains in full force and effect. Any provision contained in the Agreement which is inconsistent or conflicts with the provisions
and intention of this Amendment shall be deemed to be amended or deleted as necessary to address any such inconsistency or conflict.

    	3

    	 

    

Section
7.Reference to and Effect on the Agreement. This Amendment to the Agreement shall be effective as of the date of this
Amendment, and all references to the Agreement shall, from and after such time, be deemed to be references to the Agreement as
amended hereby.

 

Section
8.Governing Law. This Amendment shall be governed by and construed in accordance with Swedish law.

 

Section
9.Disputes.

 

Any dispute, controversy or claim arising
out of or in connection with this Amendment, or the breach, termination or invalidity thereof, shall be finally settled by arbitration
in accordance with the Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce (the “SCC Rules”).

 

Any Party shall be entitled to initiate
arbitral proceedings against two or more other Parties. Where a Party initiates arbitral proceedings against more than one Party,
such proceedings shall be resolved in one arbitration and be subject to the jurisdiction of one arbitral tribunal appointed in
accordance with the SCC Rules.

The place of arbitration shall be Stockholm.
The language to be used in the arbitration proceedings shall be English.

 

The Parties undertake and agree that arbitral
proceedings pursuant to this Amendment shall be kept strictly confidential, and all information disclosed in the course of such
proceedings as well as the contents of any decision or award made shall constitute Confidential Information.

 

Section
10.Miscellaneous. This Amendment may be executed in any number of counterparts, each of which when executed shall be
deemed to be an original, but all of which taken together shall constitute one and the same instrument. In the event that any one
or more of the terms or provisions contained in this Amendment shall be held to be invalid, illegal or unenforceable in any respect,
the remainder of the terms and provisions of this Amendment shall remain in full force and effect and shall in no way be affected,
impaired or invalidated.

 

[Remainder
of Page Intentionally Left Blank]

    	4

    	 

    

In
Witness Whereof, the Parties have executed this Amendment as of the date first above written.

 

 

 

Ember
Scandinavia AB

 

			

 

			By: /s/ Peter Metcalf

Name: Peter Metcalf

 

 

 

			Black Diamond, Inc.

 

			

 

			By: /s/ Peter Metcalf

Name: Peter Metcalf

 

 

The SELLERS sign on a separate signature page.

 

 

    	5

    	 

    

 

 

 

/s/ Fred Wikström

Fred Wikström, signing for himself and by proxy for Gastroform AB, Stefan Ytterborn, Rebelijo AS, Jan Woxing,
Fredstone AB, Vingcar Holding AB, Thomas Bjäringer, Per Wester, Lars Söderberg, Derek Colin Stuart, Securera AB, Royal-Line
AB, Hans Schlick, Jonathan Agnew and Caspar Agnew as trustees of J.G.W. Agnew, Marie-Claire Agnew, Karin Huttary, Ron Mis, Sven
Sandberg, Roslyn Braun, Fredrik Hallander, Jonas Wikström, Erik Lidén, Emilia Borg, Per Hamid Ghatan, Henrik von Stockenström,
Oscar Huss, Anna Beischer, Josefin Löwgren, Per Jansson, Svensk Civilekonomi AB, Rosén Trading & Consulting i Uppsala
AB, Claes Hulting, Martin Åberg, Hanna Wikström, Emil Wikström, Isabelle Wikström, Lisen Wikström, Therese
Wenslöw, Nicole Hausmann, Jan Tuve Möller, De Geer & Co AB, Marcus Rosén and Patrik Järbyn.

    	6

    	 

    

 

 

 

/s/ Bo Håkansson

Bo Håkansson, signing for himself and for Farstorps gård AB and by proxy for Susanne Håkansson,
Tove Håkansson and Oscar Håkansson

 

    	7

    	 

    

 

 

 

/s/ Peter Ihrfelt

Peter Ihrfelt, signing by proxy for Norge Investment
Holding LLC and BWG Holding

 

    	8

    	 

    

 

 

 

/s/ Conny Karlsson

Conny Karlsson, signing by proxy for Theodor Dalenson

 

    	9

    	 

    

 

 

 

/s/ Tora Molander

Tora Molander, signing by proxy for Jan Thorén

 

 

    	10EXHIBIT 4.1

 

For U.S. Investors:

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THESE SECURITIES
MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH
RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH RULE 144 OR 144A THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS, (D) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR (E) IN A TRANSACTION THAT DOES NOT
REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS, PRIOR TO SUCH SALE,
FURNISHED TO THE COMPANY AN OPINION OF COUNSEL OR OTHER EVIDENCE OF EXEMPTION, IN EITHER CASE REASONABLY SATISFACTORY TO THE COMPANY.
HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

 

For Non-U.S. Investors:

 

THESE SECURITIES WERE ISSUED IN AN OFFSHORE
TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S) PURSUANT TO REGULATION S PROMULGATED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). ACCORDINGLY, NONE OF THE SECURITIES REPRESENTED HEREBY
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED
OR SOLD IN THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND
IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES
MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE SECURITIES ACT.

 

8% CONVERTIBLE PROMISSORY NOTE

 

RACKWISE, INC.

 

Due ______________ ___, 2013

 

	Original Issue Date: _____________  _____,
    2012	US$______________

 

This Convertible Promissory
Note is one of a series of duly authorized and issued convertible promissory notes of Rackwise, Inc., a Nevada corporation (the
“Company”), designated its 8% Convertible Promissory Notes due on or about ______________ ___, 2013 (the “Note”),
issued to ___________ (together with its permitted successors and assigns, the “Holder”)
in accordance with exemptions from registration under the Securities Act of 1933, as amended (the “Securities Act”),
pursuant to the Securities Purchase Agreement, dated as of ______________ ___, 2012 (the “Purchase Agreement”),
entered into between the Company and the Holder. Capitalized terms not otherwise defined herein shall have the meanings ascribed
to them in the Purchase Agreement.

 

ARTICLE I

 

Section 1.01   Principal
and Interest. (a) For value received, the Company hereby promises to pay to the order of the Holder, in lawful money of the
United States of America and in immediately available funds the principal sum of ______________ ($_____________) on ______________
___, 2013 (the “Maturity Date”)

 

    	1

    	 

    

 

(b)         The
Company further promises to pay interest on the unpaid principal amount of this Note at a rate per annum equal to eight percent
(8%), commencing to accrue on the date hereof and payable on the Maturity Date. Interest will be computed on the basis of a 360-day
year of twelve 30-day months for the actual number of days elapsed.

 

(c)          Except
as otherwise set forth in this Note, the Company may not prepay any portion of the principal amount of this Note without the prior
written consent of the Holder.

 

Section 1.02      Optional
Conversion. (a) In the event the Company does not consummate the Subsequent Offering (as defined below) on or prior to the
Maturity Date, at the sole discretion of the Holder, the Holder may convert all or any portion of the outstanding principal amount
of, and accrued but unpaid interest on, this Note into shares of the Company’s common stock at a price equal to Sixty Five
Percent (65%) of the Conversion Price (as defined below). No fractional shares of the Company’s common stock will be issued
upon conversion, but the number of shares shall be rounded to the nearest whole number of shares. 

 

(b)      
“Conversion Price” means (i) the average of the daily volume weighted average prices, as quoted on the primary
national or regional stock exchange on which the common stock of the Company is listed, or, if not listed, the OTC Bulletin Board
if quoted thereon, for the twenty (20) consecutive Trading Days immediately preceding the Maturity Date, as proportionately adjusted
to reflect any stock splits, stock dividends, combination of shares or like events, or (ii) if the common stock of the Company
is not publicly traded as set forth above, as reasonably and in good faith determined by the Board of Directors of the Company
on the conversion date;

 

(c)      
“Trading Day” means any day on which the Common Stock is traded (or available for trading) on its principal
trading market.

 

Section 1.03       Mandatory
Conversion. (a) Upon the completion of the Subsequent Offering, all of the outstanding principal amount of, and accrued but
unpaid interest on, this Note shall automatically, without the necessity of any action by the Holder or the Company, convert into
Units of the Company at the conversion price per Unit (the “Conversion Price”) equal to 65% of the Subsequent
Offering Price. No fractional Units will be issued on conversion, but the number of Units shall be rounded to the nearest whole
number of Units. “Subsequent Offering” means the Company’s sale of its equity (or any convertible) securities
first sold after the date hereof and on or prior to the one (1) year anniversary of the Original Issue Date, yielding aggregate
gross proceeds to the Company of greater than $4,000,000. “Subsequent Offering Price” means the price per share
of common stock (or the conversion price of any security convertible into common stock) of the Company comprising or included in
the units (the “Units”) the Company sells in the Subsequent Offering. 

 

(b)          The
date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be the date on
which the Subsequent Offering closes. The number of Units issuable upon conversion of this Note shall be determined by the quotient
obtained by dividing (x) the outstanding principal amount of this Note and accrued but unpaid interest hereon on the Conversion
Date by (y) the Conversion Price then in effect. The calculation by the Company of the number of Units to be received by the Holder
upon conversion hereof, and of the applicable Conversion Price, shall be conclusive absent manifest error. 

 

(c)          The
Holder shall be entitled to the same registration rights pari passu as are provided by the Company to the subscribers of the Units
in the Subsequent Offering. The Company shall afford the Holder the opportunity to become a party to all agreements and instruments
executed by the investors in the Subsequent Offering, including, but not limited to, a registration rights agreement (the “Registration
Rights Agreement”). The Registration Rights Agreement shall, among other things and subject to any cut-back comments
from the Securities and Exchange Commission, register the Conversion Shares and the Conversion Warrant Shares under the
Securities Act.

 

    	2

    	 

    

 

(d)          Maximum
Conversion. Notwithstanding anything to the contrary contained in this Note, this Note shall not be convertible by the Holder
hereof to the extent (but only to the extent) that such conversion would cause the Holder and its affiliates (if they are not,
prior to such conversion, already beneficial owners of greater than 4.99% (the “Maximum Percentage”) of the
Company’s outstanding Common Stock) to beneficially own in excess of the Maximum Percentage of the Company’s outstanding
Common Stock; provided, however, that the Holder may waive the limitation imposed by this subsection, and/or increase the Maximum
Percentage to some other amount, upon at least sixty-one (61) days prior written notice to the Company. For the purposes of this
paragraph, beneficial ownership and all determinations and calculations (including, without limitation, with respect to calculations
of percentage ownership) shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder. The limitations contained in this paragraph shall apply to a successor Holder
of this Note. In the event the mandatory conversion of this Note upon any Subsequent Offering is restricted pursuant to this Section
1.03(d), the Company shall deliver to the Holder prompt notice thereof. At any time following receipt of such notice, the Holder
may elect, in its sole discretion, to demand (a “Cash Settlement Demand”) immediate repayment of principal and
interest on the unconverted portion of the Note. Unless and until the Holder provides the Company with a Cash Settlement Demand,
the unconverted portion of the Note shall remain outstanding, although interest shall cease to accrue thereon, until it can be
converted without violation of this Section 1.03(d).

 

Section 1.04        [Reserved].

 

Section 1.05        Absolute
Obligation/Ranking. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, and liquidated damages (if any) on, this Note at the
time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company. This
Note ranks pari passu with all other Notes now issued pursuant to the Purchase Agreement.

 

Section 1.06        Paying
Agent and Registrar. Initially, the Company will act as paying agent and registrar. The Company may change any paying agent
or registrar, by giving the Holder not less than five (5) business days’ written notice of its election to do so, specifying
the name, address, telephone number and facsimile number of the paying agent or registrar. Upon an assignment of the Note to the
Company, the Company may act as paying agent and registrar without regard to the notice provision provided above.

 

Section 1.07       Different
Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations,
as requested by the Holder surrendering the same. No service charge will be made for such registration of transfer or exchange.

 

Section 1.08       Investment
Representations. This Note has been issued subject to certain investment representations of the original Holder set forth in
the Purchase Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal
and state securities laws and regulations.

 

Section 1.09       Reliance
on Note Register. Prior to due presentment to the Company for transfer or conversion of this Note, the Company and any agent
of the Company may treat the person in whose name this Note is duly registered on the Note Register as the owner hereof for the
purpose of receiving payment as herein provided and for all other purposes, whether or not this Note is overdue, and neither the
Company nor any such agent shall be affected by notice to the contrary.

 

Section 1.10       Other
Rights. In addition to the rights and remedies given it by this Note and the Purchase Agreement, the Holder shall have all
those rights and remedies allowed by applicable laws. The rights and remedies of the Holder are cumulative and recourse to one
or more right or remedy shall not constitute a waiver of the others. 

 

ARTICLE II

 

Section 2.01        Amendments
and Waiver of Default. The Note may not be amended without the consent of the Holder.

 

ARTICLE III

 

Section 3.01       Events
of Default. Each of the following events shall constitute a default under this Note (each an “Event of Default”):

 

    	3

    	 

    

 

 

(a)      failure
by the Company to pay the principal amount when due hereunder within five (5) business days of receipt of written notice thereof;

 

(b)      failure
by the Company for five (5) business days after notice to it to comply with any of its other agreements in this Note; 

 

(c)      the
Company shall: (1) make a general assignment for the benefit of its creditors; (2) apply for or consent to the appointment
of a receiver, trustee, assignee, custodian, sequestrator, liquidator or similar official for itself or any of its assets and properties;
(3) commence a voluntary case for relief as a debtor under the United States Bankruptcy Code; (4) file with or otherwise
submit to any governmental authority any petition, answer or other document seeking: (A) reorganization, (B) an arrangement
with creditors or (C) to take advantage of any other present or future applicable law respecting bankruptcy, reorganization,
insolvency, readjustment of debts, relief of debtors, dissolution or liquidation; (5) file or otherwise submit any answer
or other document admitting or failing to contest the material allegations of a petition or other document filed or otherwise submitted
against it in any proceeding under any such applicable law, or (6) be adjudicated a bankrupt or insolvent by a court of competent
jurisdiction;

 

(d)      any
case, proceeding or other action shall be commenced against the Company for the purpose of effecting, or an order, judgment or
decree shall be entered by any court of competent jurisdiction approving (in whole or in part) anything specified in Section 3.01(c)
hereof, or any receiver, trustee, assignee, custodian, sequestrator, liquidator or other official shall be appointed with respect
to the Company, or shall be appointed to take or shall otherwise acquire possession or control of all or a substantial part of
the assets and properties of the Company, and any of the foregoing shall continue unstayed and in effect for any period of sixty
(60) days;

 

(e)      default
shall occur with respect to any indebtedness for borrowed money of the Company or under any agreement under which such indebtedness
may be issued by the Company and such default shall continue for more than the period of grace, if any, therein specified, if the
aggregate amount of such indebtedness for which such default shall have occurred exceeds $25,000;

 

(f)      default
shall occur with respect to any contractual obligation of the Company under or pursuant to any contract, lease, or other agreement
to which the Company is a party and such default shall continue for more than the period of grace, if any, therein specified, if
the aggregate amount of the Company’s contractual liability arising out of such default exceeds or is reasonably estimated
to exceed $25,000;

 

(g)      final
judgment for the payment of money in excess of $25,000 shall be rendered against the Company and the same shall remain undischarged
for a period of twenty (20) days during which execution shall not be effectively stayed;

 

(h)      any
event of default of the Company under any agreement, note, mortgage, security agreement or other instrument evidencing or securing
indebtedness that ranks senior in priority to, or pari passu with, the obligations under this Note and the Purchase Agreement;

 

(i)      any
material breach by the Company of any of its representations or warranties under the Purchase Agreement; or

 

(j)      any
material default, whether in whole or in part, shall occur in the due observance or performance of any obligations or other covenants,
terms or provisions to be performed under this Note or the Purchase Agreement which is not cured by the Company within five (5)
business days after receipt of written notice thereof. 

 

    	4

    	 

    

 

Section 3.02      If
any Event of Default specified in clauses 3.01(d) or (e) occurs, then the full principal amount of this Note, together with any
other amounts owing in respect thereof, to the date of the Event of Default, shall become immediately due and payable without any
action on the part of the Holder, and if any other Event of Default occurs, the full principal amount of this Note, together with
any other amounts owing in respect thereof, to the date of acceleration shall become, at the Holder’s election, immediately
due and payable in cash. Commencing five (5) business days after the occurrence of any Event of Default that results in the
eventual acceleration of this Note, interest on this Note shall begin to accrue at the rate of interest specified in Section 1.01(b)
PLUS five (5%) percent per annum, or such lower maximum amount of interest permitted to be charged under applicable law. All
Notes for which the full amount hereunder shall have been paid in accordance herewith shall promptly be surrendered to or as directed
by the Company. The Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of
any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law. Such declaration may be rescinded and annulled by the Holder
at any time prior to payment hereunder and the Holder shall have all rights as a Note holder until such time, if any, as the full
payment under this Section shall have been received by it. No such rescission or annulment shall affect any subsequent Event of
Default or impair any right consequent thereon.

 

ARTICLE IV

 

Section 4.01       Negative
Covenants. So long as this Note shall remain in effect and until any outstanding principal and interest and all fees and all
other expenses or amounts payable under this Note and the Purchase Agreement have been paid in full, unless all Holders shall otherwise
consent in writing, the Company shall not:

 

(a)        Senior
or Pari Passu Indebtedness. Incur, create, assume, guaranty or permit to exist any indebtedness that ranks senior in priority
to, or pari passu with, the obligations under this Note and the Purchase Agreement, except for (i) indebtedness existing on the
date hereof and set forth in Schedule A attached hereto and only to the extent that such indebtedness ranks senior in priority
to or pari passu with the obligations under this Note and the Purchase Agreement on the Original Issue Date, (ii) indebtedness
created as a result of a subsequent financing if the gross proceeds to the Company of such financing are equal to or greater than
the aggregate principal amount of the Notes and the Notes are repaid in full upon the closing of such financing and (iii) indebtedness
created as a result of the Subsequent Offering. 

 

(b)       Liens.
Create, incur, assume or permit to exist any lien on any property or assets (including stock or other securities of the Company)
now owned or hereafter acquired by it or on any income or revenues or rights in respect of any thereof, except:

 

(i)       liens
on property or assets of the Company existing on the date hereof and set forth in Schedule B attached hereto, provided that such
liens shall secure only those obligations which they secure on the date hereof;

 

(ii)          any
lien created under this Note or the Purchase Agreement;

 

(iii)
       any lien existing on any property or asset prior to the acquisition thereof by the Company, provided
that

 

1)
      such lien is not created in contemplation of or in connection with such acquisition and

 

2)
      such lien does not apply to any other property or assets of the Company;

 

(iv)         liens
for taxes, assessments and governmental charges;

 

(v)          carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s or other like liens arising in
the ordinary course of business and securing obligations that are not due and payable;

 

(vi)         pledges
and deposits made in the ordinary course of business in compliance, with workmen’s compensation, unemployment insurance and
other social security laws or regulations;

 

    	5

    	 

    

 

(vii)        deposits
to secure the performance of bids, trade contracts (other than for indebtedness), leases, statutory obligations, surety and appeal
bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business;

 

(viii)        zoning
restrictions, easements, licenses, covenants, conditions, rights-of-way, restrictions on use of real property and other similar
encumbrances incurred in the ordinary course of business and minor irregularities of title that, in the aggregate, are not substantial
in amount and do not materially detract from the value of the property subject thereto or interfere with the ordinary conduct of
the business of the Company;

 

(ix)          purchase
money security interests in real property, improvements thereto or equipment hereafter acquired (or, in the case of improvements,
constructed) by the Company, provided that

 

		1)	such security interests secure indebtedness permitted by this Note,

 

		2)	such security interests are incurred, and the indebtedness secured thereby is created, within 90
days after such acquisition (or construction),

 

		3)	the indebtedness secured thereby does not exceed 85% of the lesser of the cost or the fair market
value of such real property, improvements or equipment at the time of such acquisition (or construction) and

 

		4)	such security interests do not apply to any other property or assets of the Company;

 

(x)           liens
arising out of judgments or awards (other than any judgment that constitutes an Event of Default hereunder) in respect of which
the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which it shall have secured
a subsisting stay of execution pending such appeal or proceedings for review, provided the Company shall have set aside on its
books adequate reserves with respect to such judgment or award; and

 

(xi)         deposits,
liens or pledges to secure payments of workmen’s compensation and other payments, public liability, unemployment and other
insurance, old-age pensions or other social security obligations, or the performance of bids, tenders, leases, contracts (other
than contracts for the payment of money), public or statutory obligations, surety, stay or appeal bonds, or other similar obligations
arising in the ordinary course of business.

 

(c)           Dividends
and Distributions. In the case of the Company, declare or pay, directly or indirectly, any dividend or make any other distribution
(by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, with respect to any shares
of its capital stock or directly or indirectly redeem, purchase, retire or otherwise acquire for value any shares of any class
of its capital stock or set aside any amount for any such purpose.

 

(d)          Limitation
on Certain Payments and Prepayments.

 

(i)         Pay
in cash any amount in respect of any indebtedness or preferred stock that may at the obligor’s option be paid in kind or
in other securities; or

 

(ii)       Optionally
prepay, repurchase or redeem or otherwise defease or segregate funds with respect to any indebtedness of the Company, other than
for senior indebtedness existing on the date hereof and set forth in Schedule A attached hereto, indebtedness under this Note or
the Purchase Agreement.

 

ARTICLE V

Section 5.01         
[Reserved].

 

    	6

    	 

    

 

 

ARTICLE VI

 

Section
6.01     Notice. Notices regarding this Note shall be
sent to the parties at the following addresses, unless a party notifies the other parties, in writing, of a change of address:

 

	If to the Company, to:	Rackwise, Inc.
	 	2365 Iron Point Road, Suite 190
	 	Folsom, CA 95630
	 	Attention:  Guy A. Archbold, Chairman and CEO
	 	Facsimile:  415-358-4665
	 	 
	With a copy to:	Gottbetter & Partners, LLP
	 	488 Madison Avenue, 12th Floor
	 	New York, NY 10022
	 	Attention:  Adam S. Gottbetter, Esq.
	 	Facsimile:  212-400-6901
	 	 
	If to the Holder:	At the address set forth in the Purchase Agreement

 

Section 6.02      Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by
and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts
of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of New York,
Borough of Manhattan (the “New York Courts”). Each party hereto hereby irrevocably submits to the exclusive
jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, or such New York Courts are improper or inconvenient venue for such proceeding. Each party
hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the
address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right
to trial by jury in any legal proceeding arising out of or relating to this Note or the transactions contemplated hereby. If either
party shall commence an action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or
proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such action or proceeding.

 

Section 6.03      Severability.
The invalidity of any of the provisions of this Note shall not invalidate or otherwise affect any of the other provisions of this
Note, which shall remain in full force and effect.

 

Section 6.04      Entire
Agreement and Amendments. This Note, together with the Purchase Agreement, represents the entire agreement between the parties
hereto with respect to the subject matter hereof and there are no representations, warranties or commitments, except as set forth
herein. This Note may be amended only by an instrument in writing executed by the parties hereto.

 

[Remainder of Page Intentionally Left
Blank]

 

    	7

    	 

    

 

IN WITNESS WHEREOF,
with the intent to be legally bound hereby, the Company as executed this Note as of the date first written above.

 

	 	RACKWISE, INC.
	 	 
	 	By:	 
	 	 	  Name:  Guy A. Archbold
	 	 	  Title:    Chairman and CEO

 

[SIGNATURE PAGE TO BRIDGE CONVERTIBLE PROMISSORY NOTE]

 

    	8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}]]