Document:

<PAGE>   1
                                                                    Exhibit 10.9

                            [ICER CORPORATION LOGO]

THIS AGREEMENT is made this 15th day of October, 1993 between Mr. John H. Cover
(hereinafter called "Mr. Cover"), and ICER Corporation (hereinafter called
ICER), an Arizona Corporation.

                                  WITNESSETH:

     WHEREAS, Mr. Cover has critical skills and industry knowledge material to
the development and marketing of products relating to the business of ICER

     NOW, THEREFORE, the parties agree as follows:

                       ARTICLE I: SCOPE OF THE AGREEMENT

     1. Mr. Cover agrees to join the management team of ICER Corporation as an
        officer and director of the company for one (1) year full time
        employment. His position will encompass responsibility for technology
        and product development, but will not be limited to such areas.

     2. In accordance with his position with ICER, Mr. Cover agrees not to
        engage in independent business relations with competitors of ICER
        wherein:

        i) Competitors of ICER are defined as companies engaged in the
           manufacture and/or design of electronic weapons that are less than
           fourteen inches in length and are non lethal.
<PAGE>   2
ICER CORPORATION                                                 COVER AGREEMENT

        ii) Independent business relations are defined as any fee for service
            arrangement, or any product development work with competitors as
            defined in i).

       iii) Independent business relations do not include any work or
            relationships conducted within the framework of Mr. Cover's
            representation of ICER.

        iv) Mr. Cover is free to leave unaltered the licensing arrangements
            already in existence with such competitors and to pursue
            compensation from such competitors for the use of his existing
            patents at his discretion.

         v) The provisions of this section shall remain in full force and effect
            for the period of Mr. Cover's employment with ICER.

        vi) Breach of this agreement wherein Mr. Cover engages in independent
            business relations with competitors of ICER during the period
            described in iv), will result in the forfeiture of Mr. Cover's
            remaining stock options and the immediate termination of his
            employment with ICER.

     3. Mr. Cover agrees to license ICER Corporation: Rights to utilize the
        TASER trademark in conjunction with product marketing and other business
        functions. Further, Mr. Cover agrees not to license the use of the TASER
        trademark to any company not already licensed for such use (see addendum
        I).

     4. Mr. Cover will provide ICER with a comprehensive listing of his existing
        patents and trademarks to be attached as an addendum to this document
        (addendum I). Such listing will include the names and addresses of all
        licensed entities, and all renewal rights for such licensing for said
        patents and trademarks.

     5. All technical designs and intellectual property generated during Mr.
        Cover's work with ICER will be work-made-for-hire or assigned to ICER
        and will be the exclusive property of the Company.

     6. Mr. Cover affirms that he has complete authority over the patents and
        trademarks in the agreement and that he is free to enter into this
        agreement without any hindrance from or violation of prior commitments.
        Mr. Cover further affirms that he is not bound by non-disclosure or
        trade secret protection clauses which would inhibit him from fully
        applying his knowledge to his work at ICER. Accordingly, Mr. Cover
        indemnifies ICER from any damages
<PAGE>   3
ICER CORPORATION                                                 COVER AGREEMENT
--------------------------------------------------------------------------------

     resulting from litigation regarding prior commitments which would preclude
     him from having entered into this agreement.

  7. Mr. Cover agrees not to disclose the confidential information of ICER
     Corporation without clear consent from the other members of management.
     Such information will include any information which is clearly designated
     as confidential, including trade secrets developed, marketing plans,
     manufacturing know how, financial or other data which is designated as
     confidential.

                            ARTICLE II: COMPENSATION

  1. Mr. Cover will be paid a salary of $2,500 per month during the time of his
     full time employment with the Company.

  2. Mr. Cover will receive stock options for 10,000 shares of ICER Corporation
     representing ten (10) percent of the company with the following vesting
     schedule:

     2,500 shares at initiation of this agreement
     2,500 shares upon completion of functional prototype
     2,500 shares at first shipment of product to market
     2,500 shares on Oct. 15, 1994 (1 year).

  3. These options will have a strike price of $0.36 (thirty six cents per
     share) and a time to expiration of 5 years during Mr. Cover's continued
     involvement with the company.

  4. Further, Mr. Cover will receive a cash bonus in the amount of the exercise
     price of the stock options at the date and time of each stock option
     vesting that can be used only for exercising the above stock options.

  5. Mr. Cover's equity position (via stock options) is guaranteed not to be
     diluted below ten (10) percent through the first $250,000 of invested
     capital.

<PAGE>   4
ICER CORPORATION                                                 COVER AGREEMENT
--------------------------------------------------------------------------------

                           ARTICLE III: CONTINGENCIES

  1. Patrick W. Smith and Phillips W. Smith may elect to discontinue the
     activities of the corporation upon 2 weeks' notice to Mr. Cover. Under such
     circumstances, Mr. Phillips W. Smith will have the right to reclaim the
     liquid assets of the company not to exceed the amount of his cumulative
     investment. Further, from date of such notice Mr. Cover will have the right
     to use his skills and trademarks for whatever purpose he desires.

  2. Mr. Cover may elect not to continue his work with the Company with 2 weeks'
     notice. Mr. Cover would retain all vested options with right to exercise
     for 6 months from the date of departure from the company. Unvested options
     would be forfeited, and the corresponding shares would remain the property
     of the Company.

  3. In the event that Mr. Cover should not be able to exercise power of
     attorney over the equity in his name while the company is privately held
     (i.e. the shares are not on the public market), the Corporation would have
     option to repurchase such shares within 6 months from Mr. Cover's estate or
     heirs for an amount equal to the greater of:

     i) The book value of such shares calculated by standard accounting
     practices

     ii) $10 per share

     iii) Amounts solicited from competitive bidders.

AGREED,

By:  /s/ Patrick Smith                        By:   /s/ John H. Cover
    -----------------------                        -----------------------
     Patrick Smith                                  John H. Cover
     For ICER CORPORATION

Dated:   10/15/93
       --------------------

[SEAL]

CORPORATE SEAL
<PAGE>   5
                        AMENDMENT TO LICENSING AGREEMENT

     THIS AMENDMENT TO LICENSING AGREEMENT ("AMENDMENT") is made and entered
into this 31st day of August, 1996, by and between John H. Cover, Jr. ["JACK
COVER"] and Air Taser, Incorporated f/k/a/ ICER Corporation, an Arizona
corporation ["AIR TASER"].

     In consideration of the covenants and agreements hereinafter set forth,
the amounts of money paid in accordance herewith, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
that certain Licensing Agreement dated October 15, 1993 ("LICENSE") is hereby
amended as follows:

     1.   AIR TASER hereby agrees to pay to JACK COVER and JACK COVER hereby
agrees to accept the sum of One Hundred Thousand Dollars ($100,000) in full
payment and satisfaction of any and all minimum royalties and earned royalties
now due or hereinafter accruing to JACK COVER from AIR TASER pursuant to the
terms of the LICENSE as originally executed or as subsequently modified or
amended, in writing, prior to the date hereof. Said payment shall be made
contemporaneously with the full execution and delivery of this AMENDMENT by
each of the parties hereto.

     2.   JACK COVER, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, for: (i) himself, (ii) his heirs,
(iii) his legal representatives, legatees, successors and assigns of all of the
foregoing persons and entities, hereby releases and forever discharges AIR
TASER, any past, present and future shareholders, successors, assigns, officers,
directors, agents, attorneys and employees of AIR TASER, together with their
respective heirs, legal representatives, legatees, successors, and assigns, of
and from all actions, claims, demands, damages, debts, losses, liabilities,
indebtedness, causes of action either at law or in equity and obligations of
whatever kind or nature, whether known or unknown, direct or indirect, new or
existing, by reason of any matter, cause or thing whatsoever from the beginning
of the world to the date hereof concerning any minimum of earned royalties which
are now due or which may hereafter accrue to JACK COVER pursuant to the terms of
the LICENSE.

     3.   This AMENDMENT embodies the entire agreement between the parties and
supersedes any prior agreements or understanding between them in connection
with the subject matter hereof and the transactions contemplated hereby. There
are no oral or parol agreements, representations, or inducements existing
between the parties relating to this transaction which are not expressly set
forth herein and covered hereby. All terms of this AMENDMENT are contractual
and not mere recitals and shall be construed as if drafted by all parties
hereto. The terms of this AMENDMENT are and shall be binding upon each of the
parties hereto, their agents, employees successors and assigns, and upon all
other persons

                                    -1 of 2-
<PAGE>   6
 claiming any interest in the subject matter hereof through any of the parties
hereto.

     4.   To the extent that this AMENDMENT contradicts, is inconsistent or in
conflict with any prior agreements between or among any or all of the parties,
this AMENDMENT supersedes any conflicting or inconsistent provision of any prior
agreement and is controlling to the extent necessary to resolve such conflict or
inconsistency. Any and all provisions in a prior agreement not inconsistent with
this AMENDMENT remain valid and binding.

     5.   It is acknowledged that the parties hereto have read this AMENDMENT
and consulted counsel before executing same; that they have relied upon their
own judgment and that of their respective counsel in executing this AMENDMENT
and have not relied on or been induced by any representation, statement or act
by any other party referred to in this instrument; that the parties hereto have
entered into this AMENDMENT voluntarily, with full knowledge of its
significance; and that this AMENDMENT is in all respects complete and final.

     6.   If any term or provision of this AMENDMENT or the application thereof
to any person, entity or circumstance shall, to any extent, be held invalid
and/or unenforceable by a court of competent jurisdiction, the remainder of this
AMENDMENT, or the application of such term or provisions to persons, entities or
circumstances other than those as to which it is held invalid or unenforceable
shall not be affected thereby, and each term and provision of the AMENDMENT
shall be valid and be enforced to the fullest extent permitted by law.

     7.   This AMENDMENT may not be amended, changed, or modified except by
written instrument executed by all parties hereto.

     8.   This AMENDMENT shall be construed and enforced according to the laws
of the State of Arizona.

     9.   This AMENDMENT may be executed in any number of counterparts, each of
which shall be deemed an original, but all of which together shall constitute
but one instrument.

     IN WITNESS WHEREOF, the parties have caused this AMENDMENT to be duly
executed as of the day and year first above written.

AIR TASER, INCORPORATED

By: /s/ Patrick Smith                   /s/ John H. Cover, Jr.
    -----------------                       ------------------
                                            John H. Cover, Jr.
                                            11 Half Moon Bend
                                            Coronado, CA 92118
Title:   President
       --------------

                                    -2 of 2-
<PAGE>   7
               2nd AMENDMENT TO THE AIR TASER LICENSING AGREEMENT

      This 2nd Amendment to the AIR TASER licensing agreement (2nd Amendment) is
made and entered into this 31st day of August, 1996, by and between John H.
Cover, Jr. ["JACK COVER"] and AIR TASER, Incorporated f/k/a ICER Corporation, an
Arizona Corporation ["AIR TASER"].

      In consideration of the covenants and agreements hereinafter set forth,
the amounts of money paid in accordance herewith, and other good and valuable
considerations, the receipt and sufficiency of which are hereby acknowledged,
that certain Licensing Agreement dated October 15, 1993 ["LICENSE"] is hereby
amended as follows:

1. AIR TASER hereby agrees to pay to Jack Cover, and Jack Cover hereby agrees to
   accept the sum of FIFTEEN THOUSAND DOLLARS ($15,000) in full payment for a
   limited exclusivity for rights to technology embodied in U.S. patent
   #5,078,117 ["The '117 Patent"]. In accordance with this limited exclusivity,
   Jack Cover agrees that he shall license no other company, person, or entity
   of any type to utilize the technology described in the '117 patent for use in
   electronic weapon system other than the companies licensed for such use prior
   to this 31st day of August, 1996. These pre-existing licenses are non
   transferable and shall not be transferred to any entity other than the
   original license holder as enumerated below. Further, Mr. Cover shall not
   expand or modify the rights of the existing licensees, as listed below,
   without written approval from AIR TASER, Inc. A comprehensive listing of such
   licensed companies is given below:

      a) EESTI, Engineering, LLC, a company in Poway, CA. (Copy of license
         attached as Exhibit A.)

      b) Yong Suk Park, d.b.a. Bestex, Co. (Copy of license addendum regarding
         '117 patent rights attached as Exhibit B.)

2. This agreement in no way binds Mr. Cover from licensing rights to utilize the
   '117 technology in applications which are not electronic weapons. Mr. Cover
   is free to license any person, company, association, agency, or entity of any
   type to utilize the '117 technology so long as the license contains the
   specific language below:

      "The licensee may not use the technology embodied in U.S. Patent
      #5,078,117 in conjunction with any electronic weapon system. The violation
      of this restriction shall cause immediate cancellation of this license
      without notice, and may cause damages payable to John H. Cover and/or AIR
      TASER, Inc."

3. If any term or provision of this 2nd Amendment or the application thereof to
   any person entity, or circumstance shall, to any extent, be held invalid and
   or unenforceable by a court of competent jurisdiction, the remainder of this
   2nd Amendment, or the application of such term or provisions to persons,
   entities, or
<PAGE>   8
     circumstances other than those as to which it is held invalid or
     unenforceable shall not be affected thereby, and each term and provision of
     the 2nd Amendment shall be valid and be enforced to the fullest extent
     permitted by law.

4.   This 2nd Amendment may not be amended, changed, or modified except by
     written instrument executed by all parties hereto.

5.   This 2nd Amendment shall be construed and enforced according to the laws of
     the state of Arizona.

          IN WITNESS WHEREOF, the parties have caused this 2nd Amendment to be
duly executed as of the day and year first above written.

AIR TASER, INCORPORATED,

By: /s/ Patrick Smith                            /s/ John H. Cover, Jr.
    _________________                            ______________________
    President                                    John H. Cover, Jr.
                                                 11 Half Moon Bend
                                                 Coronado, CA 92118

<PAGE>   9
                                   EXHIBIT A.

<PAGE>   10
ELECTROARMS, INC.
     John H. Cover, Pres. 602/529-2344
     5833 No. Kolb Rd. #10212
     Tucson, AZ 85730

                                                               December 15, 1995

     LICENSE AGREEMENT BETWEEN ANTON SIMSON, EESTI Engrg, LLC, POWAY, CA,
     LICENSEE & JOHN H. COVER, LICENSOR - under Pat. No. 5,078,117 (generally
     covering the use of compressed gas capsules that are easily discharged &
     the gas will propell projectiles, weights, contactors, nets, etc., in a
     non-firearm mode of operation).

     This Agreement specifically pertains to EESTI's manufacture of Taser-type
     cassettes designed to snap onto stun guns giving the stun gun owner the
     Taser stand-off range & effectiveness in stopping power over dangerous
     criminals.

     More specifically this License relates to J.H. Cover's License with Eastex
     Co., Yong Park, who imports & sells the Thunder Power - and other stun guns
     - which will be used in conjunction with the EESTI SGA Cassettes containing
     the SPOGC's.

     In return for this Exclusive License to EESTI, J.H. Cover will receive an
     Earned Royalty from Anton Simson, EESTI, of $0.25 - or 25(cents) @ for each
     SGA Cassette they Make & Sell.

     In summary, the Licensor, John H. Cover, hereby grants an Exclusive License
     under Patent #5,078,117 to Anton Simson, d.b.a. EESTI Engineering, LLC, to
     manufacture and sell the Stun Gun/SGA Taser Cassettes as the Exclusive
     Licensee.

     Signatures below constitute the legal acceptance by the two Parties of the
     above Terms & Conditions.

     /s/ Anton Simson      2-19-96                /s/ John H. Cover     12/15/95
     -----------------------------                ------------------------------
     Anton Simson, Licensee - Date                John H. Cover, Licensor - Date

<PAGE>   11

-----------------------------------------------------------------------------

                                   EXHIBIT B.

<PAGE>   12
ELECTROARMS, INC.   619/423-0689
11 Half Moon Bend, Coronado, CA 92118                December 1, 1998

Yong S Park, Pres.             Subject: License Addendum covering
Bestex Co., Unit B                      Bestex Sale of a Stun Gun
3421 San Fernando Rd.          Adaptor/SGA designed for the Thunder
Los Angeles, CA 90065          Power Stun Gun.

ADDENDUM TO THE LICENSE AGREEMENT signed by Yong Suk Park, d.b.a. Bestex Co.,
3/7/90 & John H. Cover, Licensor, on 2/19/90.

Licensor hereby grants an Exclusive License to distribute and sell the SGA
Taser Cassettes designed to "snap" onto the front of the Bestex Thunder Power
Stun Gun modified to function with the SGA -- which projects the high voltage
electric contactors at an attacker -- such that the user does not receive a
shock to this hand (insulation)

This License is under J.H. Cover's Patent #5,078,117 covering the
Self-Puncturing Compressed Gas Capsule. This technology permits the use of
compressed air to propell the contactors & is therefore not classified as a
Firearm. EESTI, Anton Simson, Poway, CA will make the SGA under my Patent
License & supply them to Bestex.

The Terms for Bestex's Exclusivity are: 1)$20,000 upfront ($10,000 upon
execution of the License -- 1st week of March, 1996 -- and $10,000 April 1,
1996), 2) Bestex's Minimum Royalty will be $2500/mos starting 4/2/96, and 3)
Bestex will pay J.H. Cover $2 Earned Royalty for each Thunder Power Stun Gun
sold(or any modification or substitution thereof that fits the SGA) and
25(cents) for each SGA Cassette sold.

It is important that Yong Park, Anton Simson & Jack Cover work as a team on
this program. There are decisions to be made such as the Packaging of the
Product -- the Thunder Power & (2) SGA cassettes in a box -- sales and
advertising strategies including the name of the Product. "Public Defender" and
ElectroStorm(stop rape & murder) are possibilities. An early meeting such as
the first week in December is suggested. Jack Cover will consult as needed
without compensation.

The signatures below constitute the legal acceptance of the two parties of the
above terms & conditions.

/s/ Yong Suk Park,   12/18/95          /s/ John H. Cover   12/15/95
-----------------------------          ----------------------------
Yong Suk Park, Licensee - Date         John H. Cover, Licensor

<PAGE>   13

                                                                         8/31/96

AIR TASER INCORPORATED

                  Rec'd $15,000 for 2nd Amendment Compensation

                                 /s/ J.H. Cover
                                 --------------
                                   J.H. Cover
<PAGE>   14
                          [SPECIMEN STOCK CERTIFICATE]

                                [AIR TASER LOGO]
                            INTELLIGENT SELF DEFENSE
     Number                                                          Shares
     00004                                                           50,000

                             AIR TASER INCORPORATED
                       Share Issue Authorized by  /s/ illegible    /s/ illegible
                                                  -------------    -------------
                                                    President        Secretary

THIS CERTIFIES THAT John H. Cover is the registered holder of Fifty Thousand
(50,000) Shares transferrable only on the books of the Corporation by the
holder hereof in person or by Attorney upon surrender of this Certificate
properly endorsed.

IN WITNESS WHEREOF, the said Corporation has caused this Certificate to be
signed by its duly authorized officers and its Corporate Seal to be Hereunto
affixed
                              this Seventeenth day of June A.D. 1994
<PAGE>   15
                          [SPECIMEN STOCK CERTIFICATE]

[SEAL]

FOR VALUE RECEIVED, I hereby sell, assign and transfer unto AIR TASER, INC.
____________ Shares represented by the within Certificate, and do hereby
irrevocably constitute and appoint PATRICK SMITH Attorney to transfer the said
Shares on the books of the within named Corporation with full power of
substitution in the premises.

Dated  AUGUST 31, 1994

In presence of

/s/ illegible                                  /s/ John H. Cover
-----------------------                        -----------------------
                                               John H. Cover
                                               11 Half Moon Bend
                                               Coronado, CA 92118

NOTICE: THE SIGNATURE OF THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS
WRITTEN UPON THE FACE OF THE CERTIFICATE, IN EVERY PARTICULAR, WITHOUT
ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER.
<PAGE>   16
                              LICENSING AGREEMENT

1.   CONSIDERATION; EFFECTIVE DATE

     1.1 The effective date of this agreement shall be Oct. 15, 1993.

2.   PARTIES

     2.1 John H. Cover is an individual with business located at Box 404, 4725
     Sunrise Drive, Tucson, Arizona 85718 (LICENSOR)

     2.2 ICER Corporation is an Arizona Corporation engaged in the development
     of non lethal electronic weapons for sale to the general consumer market
     (LICENSEE).

3.   BACKGROUND

     3.1 Licensor represents and warrants that he owns several patent rights,
     both domestic and foreign as listed on Exhibit "A" though not in every
     country of the world, and specifically U.S. Patent Number 4,254,132 and
     5,078,117, (the Licensed Patents) concerning a power supply and ballistics
     launching mechanism for weapons or other devices utilizing electricity for
     immobilization purposes.

     3.2 Licensor is not aware of any ownership of another of inventions or
     patent rights or trade secret or know-how rights in conflict with his own;
     and Licensor believes that he possesses such right, title and interest in
     and to the electronic immobilization devices and equipment useful therein
     as is necessary and appropriate to the terms of this agreement.

     3.3 Licensee is a company seeking to develop such technology for
     manufacture and marketing an alternative non lethal self defense device to
     firearms.

     3.4 Any other concepts, advanced technologies or other patents Licensor now
     possesses or might obtain in the future are specifically excluded from this
     agreement. HOWEVER, SUCH TECHNOLOGIES MAY BE COVERED IN SEPARATE
     ARRANGEMENTS SPECIFYING CONTRACT AND SALARIED WORK.

4.   LICENSE
<PAGE>   17
ICER CORPORATION                                                COVER AGREEMENT

     4.1  Licensor hereby grants Licensee a non exclusive license for use of
     patent number 4,254,132 and the electric wave form and power generator
     described therein. Under said licensed patent to manufacture, use and sell
     devices, with and without launching mechanisms covered by patent number
     4,254,132.

     4.2. LICENSOR HEREBY GRANTS LICENSEE LICENSE FOR PATENT 5,078,117. LICENSOR
     IS LICENSED UNDER SAID PATENT TO MANUFACTURE, USE AND SELL DEVICES COVERED
     BY PATENT 5,078,117. THIS LICENSE WILL BE EXCLUSIVE FOR DEVICES WHICH MEET
     ALL OF THE FOLLOWING CHARACTERISTICS:

          i)    ELECTRONIC WEAPONRY DESIGNED TO IMMOBILIZE
          ii)   WEAPON AS IN i) WHEREIN THE GREATEST DIMENSION OF THE WEAPON IS
                 OF LESS THAN FOURTEEN INCHES.
          iii)  A WEAPON WHICH IS DESIGNED TO BE NON LETHAL
          iv)   A WEAPON DESIGNED FOR USE AGAINST HUMANS

          THIS EXCLUSIVITY BINDS LICENSEE TO ENSURE THAT ANY FURTHER LICENSING
     OF PATENT 5,078,117 DESCRIBES CLEARLY THAT THE LICENSING OF PATENT
     5,078,117 DESCRIBES CLEARLY THAT THE LICENSE MAY NOT BE USED FOR
     MANUFACTURE OF DEVICES WHICH MEET THOSE FOUR CHARACTERISTICS. THIS
     EXCLUSIVITY WILL BE BINDING FOR TWENTY FOUR MONTHS (24). AFTER TWENTY FOUR
     MONTHS, THIS EXCLUSIVITY CLAUSE WILL REMAIN IN EFFECT IF THE TOTAL EARNED
     ROYALTIES PAID BY LICENSEE TO LICENSOR EXCEEDS $100,000 PER YEAR, USING
     MONTHS 12-24 AS THE FIRST YEAR FOR SUCH CALCULATION. SHOULD THE EARNED
     ROYALTIES FALL BELOW $100,000 PER YEAR, LICENSOR WILL BE FREE TO LICENSE
     PATENT 5,078,117 FOR SIMILAR USE.

     4.3. No party shall enter into any contracts or make any warranties on
     behalf of the other party.

     4.4. Licensee shall not negotiate sub license or assign this license unless
     specifically authorized in writing by Licensor. Bona fide sales by Licensee
     to bona fide third parties for resale are not sub licensing so long as
     these sales are not in violation of Paragraph 6.12 below.

5.   TERM OF LICENSE

     5.1. The license will be for the period of validity of patent 4,254,132 on
     devices utilizing the technology described therein

<PAGE>   18
ICER CORPORATION                                                 COVER AGREEMENT

     and for the PERIOD OF VALIDITY of patent 5,078,117 for mechanisms
     utilizing the technology described therein.

     5.2  Licensee's obligation to pay royalties, as set forth in
     Paragraph 6, runs in favor of Licensor's heirs, successors and
     assigns.

6.   ROYALTIES

     6.1  From Oct. 15, 1993 until the expiration of the above described
     patents, unless Licensee ceases to make, use, or sell devices covered by
     the Licensed Patents, Licensee agrees to pay Licensor a MINIMUM ROYALTY of
     Two thousand five hundred and no/100 Dollars ($2,500) per month payable on
     the 15th and on the 15th of each and every month thereafter during the
     term of this license. Payment of the MINIMUM ROYALTY shall be delinquent
     if not paid within 5 days after the due date.

     6.2  LICENSEE ALSO AGREES TO PAY AN EARNED ROYALTY TO BE COMPUTED MONTHLY
     AND, AFTER REDUCTION BY THE AMOUNT PAID IN CUMULATIVE MINIMUM ROYALTIES
     ABOVE CUMULATIVE EARNED ROYALTIES, SAID EARNED ROYALTIES SHALL BE EQUAL TO
     TWO DOLLARS PER UNIT ($2.00) FOR EACH UNIT WHICH UTILIZES THE POWER
     GENERATION DEVICE AND ELECTRIC WAVE FORM DESCRIBED IN PATENT 4,254,132 AND
     $0.25 PER UNIT FOR EACH DEVICE WHICH UTILIZES COMPRESSED GASSES TO LAUNCH
     ELECTRICAL CONTACTORS FROM THE POWER GENERATOR. THIS $0.25 EARNED
     ROYALTY SHALL REMAIN IN EFFECT FOR THE LIFE OF PATENT 4,254,132 IF IT DOES
     NOT UTILIZE THE TECHNOLOGY DESCRIBED IN PATENT NUMBER 5,078,117. IF IT
     DOES UTILIZE THE TECHNOLOGY DESCRIBED IN PATENT NUMBER 5,078,117, THEN THE
     EARNED ROYALTY SHALL REMAIN IN EFFECT FOR THE LIFE OF SAID PATENT
     5,078,117. AN EARNED ROYALTY OF $0.10 WILL BE PAID FOR "PRACTICE
     CASSETTES" WHICH UTILIZE THE TECHNOLOGY IN PATENT 5,078,117, WHEREIN
     "PRACTICE CASSETTES" ARE DEFINED AS DEVICES WHICH SIMULATE THE ACTION OF
     PROPELLING ELECTRICAL CONTACTORS TO A TARGET BUT WHICH ARE
     NON-FUNCTIONAL--I.E. ARE NOT RELIABLE CONTACTORS FOR USE IN COMBAT
     SITUATIONS.

     6.3  Licensee's MINIMUM ROYALTY payment is due on the 15th of each month.
     MINIMUM ROYALTY payments are past due five days thereafter. If MINIMUM
     ROYALTY payments are not made within five days of the due date, then a
     DEFAULT of this agreement occurs automatically and without notice.
     Licensee has
<PAGE>   19
ICER CORPORATION                                            COVER AGREEMENT

payment with a cashier's check or money order for the full amount of the
MINIMUM ROYALTY due. If the DEFAULT is not cured by payment of this MINIMUM
ROYALTY by cashier's check or money order by 5:00 P.M. on the tenth day after
which it is due, this licensing agreement is automatically terminated without
notice.

6.4.  Licensee's EARNED ROYALTY payment is due on the fifteenth day of the month
following the month in which the REVENUES FROM SALES WERE RECEIVED. EARNED
ROYALTY payments are past due and delinquent if not paid by 5:00 P.M. on the
twentieth day of SAID MONTH. If EARNED ROYALTY payments are not made by the
twentieth of the month, then a DEFAULT of this agreement occurs automatically
and without notice. Licensee has until the thirtieth of the month to cure the
DEFAULT by payment with a cashier's check or money order for the full amount of
the EARNED ROYALTY due. If the DEFAULT is not cured by payment of this EARNED
ROYALTY by cashier's check or money order by 5:00 P.M. on the thirtieth day of
the month in which it is due, this licensing agreement is automatically
terminated without notice.

6.5. Royalties are payable by Licensee to Licensor at the address of the
Licensor.

6.6. Royalties are payable in U.S. Dollars

6.7. Accompanying each EARNED ROYALTY payment, Licensee will provide to Licensor
the accounting data on the sales of the licensed devices, including any daily
summaries and the monthly summary from which the gross sales figures for the
month are determined.

6.8. Licensee will keep books, accounts, and records that reflect all revenues
and expenditures incurred in connection with the operation of its business. The
books, accounts, and records shall be maintained at the regular place of
business of Licensee. Licensee, during regular business hours, shall make the
books, accounts, and records required to be maintained herein available to
Licensor and/or his designated legal representative for examination and audit by
appointment upon reasonable request and during normal business hours. Licensor
agrees to pay for said examination and audit, however, if said examination and
audit reveals a discrepancy of more than 5% of reported figures, Licensee shall
pay for an examination and audit
<PAGE>   20
ICR CORPORATION                                        COVER AGREEMENT

     6.9.      Within sixty days after the end of each calendar year, Licensee
     shall prepare and deliver to Licensor a detailed statement of sales during
     the calendar year that result from the operations of Licensee's business.

     6.10.     Licensor agrees that all such information shall be held by its
     legal representatives, agents, trustees, attorneys, and accountants in
     confidence.

     6.11.     Licensee will mark each of the subject devices with the following
     notice: "Licensed under U.S. Patent No. 4,253,132" Or: "Licensed under U.S.
     Patent No. 5,078,117" Or both.

     6.12.     DELETED.

7.   INFRINGEMENT OF LICENSOR's PATENTS

     7.1.      In the event that any party shall become aware of any perceived
     infringement or any appropriation of Licensor's patents, trade secrets, or
     know how rights in the electronic immobilization devices or equipment,
     products or materials useful therein, the party shall give notice thereof
     to the other party hereto.

     7.2.      Licensee agrees to cooperate with any lawful efforts that
     Licensor may undertake to seek legal remedies for any such infringements or
     misappropriations.

8.   INDEMNITIES FOR MALFEANCE, LIABILITY FOR PERSONAL INJURY OR PROPERTY
     DAMAGE

     8.1.      The License herein granted to Licensee is primarily in the
     nature of a sharing of information and a covenant not to sue for
     infringements of the Licensor's rights and is not in the nature of a
     specification of activities required of the Licensee or of equipment or
     process of details required to be used by the Licensee.

     8.2.      The manufacture, use, and sale of Licensee's products shall be
     the sole responsibility of Licensee and/or its agents.

     8.3.      Accordingly, Licensor shall not be liable for any personal injury
     or property damage resulting from the design, construction, or use of the
     licensed technology or of the equipment or products used in connection with
     the technology, if such injury or damage arises from the activities of
     Licensee.

<PAGE>   21
ICER CORPORATION                                                 COVER AGREEMENT

     8.4  In no event shall Licensor be liable for any direct, special,
     incidental, or consequential damages, or any damages whatsoever, whether in
     an action for contract, negligence, or other tortious action arising out
     of, or in connection with, the use of any of the products covered by this
     license.

     8.5  Licensee shall protect, save, indemnify, and hold Licensor harmless
     from all claims, demands, charges, or litigation arising out of the making,
     using, or selling of the merchandise and devices produced and sold by
     Licensee and arising, directly or indirectly, out of, or by reason of, any
     business activities of Licensee. Licensee shall reimburse Licensor for all
     loss, damage, or expense, including reasonable attorney's fees (should such
     a creature exist), which he may suffer or incur, directly or indirectly, by
     reason of any such claims, demands, charges, or litigation. This indemnity
     shall extend to and include any claims for personal injuries or damage
     caused to persons using the merchandise or devices made or sold by
     Licensee.

9.   CONTROLLING LAWS

     9.1  All questions relating to the validity, interpretation, performance,
     or enforcement of this agreement, whether by arbitration or otherwise,
     shall be determined in a court with the laws applicable to the State of
     Arizona, U.S.A.

10.  BINDING EFFECT

     10.1 Each and every provision on this license shall bind and shall inure to
     the benefit of the parties hereto and their legal representatives.

     10.2 The term "legal representatives" means in addition to executors and
     administrators, every person, partnership, corporation, or association
     succeeding to the interest or to any part of the interest in or to this
     license or in the subject matter of this license, of either Licensor or
     Licensee, whether such succession results from the act of a party interest,
     occurs by operation of law, or is the effect of the operation of the law
     together with the act of such a party. Each and every covenant, agreement,
     and condition of this agreement to be performed by the Licensee shall be
     binding upon all successors in the interest to Licensee.

11.  NOTICES

<PAGE>   22
ICER CORPORATION                                                 COVER AGREEMENT

     11.1.     All notices required herein shall be in writing.

     11.2.     Written notices may be delivered personally to the president of
     the subject party or to the officer or person specified below.

     11.3.     Written notices shall be deemed to have been effective three days
     following the date of mailing by certified mail, postage prepaid, return
     receipt requested, addressed to John H. Cover, Licensor, as follows:

               BOX 404
               4725 Sunrise Dr.
               Tucson, Arizona 85718

               Licensee addressed to:

               4601 East Indian Bend Road
               Scottsdale, Arizona 85253

     11.4      Each party shall have the right to change the effective address
     for a notice by a notice in writing directed to the other party above.

12.  ENTIRE AGREEMENT; AMENDMENTS; HEADINGS

     12.1      This agreement together with its appendices constitutes the
     entire agreement between the parties REGARDING LICENSING OF TECHNOLOGY, and
     SUPERSEDES any prior communications ON THE SUBJECT whether written or oral.

     12.2      This agreement may be amended or modified only  by an instrument
     in writing, signed by duly constituted officers of both parties.

     12.3      No waiver, no matter how long continuing or how many times
     extended, shall be construed as a permanent waiver or as an amendment to
     this instrument.

     12.4      The marginal headings herein are for purposes of convenient
     reference only and shall not be used to construe or modify the terms
     written in the text of this instrument.

13.  FAILURE TO PERFORM

<PAGE>   23
ICER CORPORATION                                                 COVER AGREEMENT

13.1.  Licensee, as well as its successors in interest and or assigns, agrees
that failure to perform in accordance with the terms of this license,
terminates this license and any manufactures, use, or sale of devices covered
by the Licensed Patents, with or without launching mechanisms, thereafter is
without license.

AGREED,

By: /s/ Patrick Smith                By: /s/ John H. Cover
   -----------------------                -----------------------
     Patrick Smith                          John H. Cover
     For ICER CORPORATION

Dated: 10/15/93
      --------------------

CORPORATE SEAL

[SEAL]<PAGE>   1
                                                                   Exhibit 10.10
                                [Taser(R) Logo]

                        [TASER INTERNATIONAL LETTERHEAD]

                                PROMISSORY NOTE

$500,000.00
                                                                January 23, 2001
                                                             Scottsdale, Arizona

     FOR VALUE RECEIVED, the undersigned TASER International, Inc., a Delaware
corporation ("Maker"), promises to pay to Phil Purer or his order ("Payee") the
sum of FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00), together with
interest at the rate of one and one-half percent (1.50%) per month from the
date hereof through the earlier of (a) the closing of an underwritten initial
public offering of Maker's common stock or (b) July 1, 2002 (the applicable
date being the "Maturity Date").

     Payments: On or before the Maturity Date, Maker shall pay the sum of all
interest and principal due under this Note from the date of this Note through
the date of such payment. Maker shall not be required to make any payment of
interest or principal pursuant to this Note prior to the Maturity Date.

     Type and Place of Payments: Payments of principal and interest pursuant to
this Note shall be made in lawful money of the United states of America to Payee
at 1610 Loma Vista Drive, Beverly Hills, California 90210, or at such other
address as Payee shall direct.

     Advance Payment: Maker may prepay all or any portion of the amounts due
under this Note at any time without penalty or premium.

     Warrant Right: In consideration of the loan from Payee to Maker evidenced
by this Note, Maker shall issue to Payee on the date of this Note a warrant to
purchase up to 5,000 shares of Maker's common stock, which warrants shall be
exercisable at a price per share of $10.00 and which warrant shall be
substantially in the form of EXHIBIT A attached hereto.

     Default: Maker shall be in default under this note if it shall fail to
fully pay this Note within ten (10) business days after the Maturity Date.

     Successors and Assigns: This Note shall be binding upon Maker and upon its
successors and assigns, and shall inure to the benefit of Payee and his heirs,
devisees, personal representatives, successors and assigns. This Note shall be
fully assignable by Payee without Maker's consent.

PAGE 1 - PROMISSORY NOTE
<PAGE>   2
                                [Taser(R) LOGO]

                        [TASER INTERNATIONAL LETTERHEAD]

     Maximum Interest:  Nothing contained in this Note shall be deemed to
establish or require the payment of a rate of interest in excess of the maximum
rate permitted by law. If the rate of interest required to be paid under this
Note at any time exceeds the maximum rate permitted by law, the rate of
interest required to be paid pursuant to this Note shall be automatically
reduced to the maximum rate permitted by law.

     Address Changes:  Each party agrees to notify the other by registered or
certified mail of any change in the party's address.

     Arizona Law:  This Note shall be governed by and construed under the laws
of the state of Arizona without regard to the conflicts of laws provisions
thereof.

MAKER:

                                   TASER International, Inc.

                                   By: /s/ Thomas P. Smith
                                       ----------------------
                                  Its:     President
                                       ----------------------

Accepted as of the above date:

/s/ Phil Purer
--------------
Phil Purer

PAGE 2 - PROMISSORY NOTE
<PAGE>   3
                                [TASER (R) LOGO]

                 [TASER INTERNATIONAL INCORPORATED LETTERHEAD]

THE SECURITIES EVIDENCED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED
UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH
SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT OR THE
COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF SUCH SECURITIES
REASONABLY SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE, TRANSFER,
ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS
DELIVERY REQUIREMENTS OF SUCH ACT.

                        WARRANT TO PURCHASE COMMON STOCK
                          OF TASER INTERNATIONAL, INC.

                         (void after January 23, 2006)

                  This certifies that Phil Purer or assigns (the "Holder"), for
value received and subject to the provisions hereinafter set forth, is entitled
to purchase from TASER International, Inc., a Delaware corporation (the
"Company"), Five Thousand (5,000) fully paid and nonassessable shares of the
Company's Common Stock, $0.00001 par value per share (such stock being
hereinafter referred to as the "Common Stock" and such Common Stock as may be
acquired upon exercise hereof being hereinafter referred to as the "Warrant
Stock"), at the price of Ten Dollars ($10.00) per share.

                  This Warrant is subject to the following provisions, terms and
conditions:

         1.       Exercise and Issuance. This Warrant may be exercised in whole
or in part (but not as to any fractional share of Common Stock) at any time
commencing on the date hereof (the "Issue Date") until the fifth anniversary of
the Issue Date. The rights represented by this Warrant may be exercised by the
Holder by written notice of exercise substantially in the form attached hereto
as Exhibit A delivered to the Secretary of the Company at the principal office
of the Company accompanied by this Warrant (properly endorsed, if required) and
payment to the Company, by cash, certified check or bank draft, of the purchase
price of the shares of Warrant Stock being purchased. The Company agrees that
the Warrant Stock so purchased shall be and is deemed to be issued as of the
close of business on the date on which this Warrant shall have been surrendered
and payment made for such Warrant Stock. Certificates for the shares of Warrant
Stock so purchased shall be delivered to the Holder within a reasonable time,
not exceeding forty-five (45) days after the rights represented by this Warrant
shall have been so exercised, and, unless this Warrant has expired, a new
Warrant representing the number of shares of Warrant Stock, if any, with respect
to which this Warrant has not been exercised shall also be delivered to the
Holder within such time.
<PAGE>   4
                                [TASER (R) LOGO]

                 [TASER INTERNATIONAL INCORPORATED LETTERHEAD]

         2.       Covenants of Company. The Company covenants and agrees that
all shares of Warrant Stock that may be issued upon the exercise of the rights
represented by this Warrant will, upon issuance, be duly authorized and issued,
fully paid and nonassessable and free from all liens and charge with respect to
the issuance thereof. The Company further covenants and agrees that until
expiration of this Warrant, the Company will at all times have authorized and
reserved for the purpose of issuance or transfer upon exercise of the rights
evidenced by this Warrant, a sufficient number of shares of Common Stock to
provide for the exercise of the rights represented by this Warrant.

         3.       Exercise Price and Share Adjustments. The initial number of
shares of Common Stock purchasable upon exercise of this Warrant and the
exercise price payable therefore shall be subject to adjustment from time to
time, as provided below:

                  (a)      In case the Company shall at any time hereafter
subdivide or combine the outstanding shares of Common Stock or declare a
dividend payable in Common Stock, the total number of shares of Common Stock
purchasable upon the exercise of this Warrant shall be adjusted so that the
Holder shall be entitled to receive the number of shares of Common Stock which
the Holder would have owned or have been entitled to receive immediately
following any of the events described above had this Warrant been exercised in
full immediately prior to any such event. An adjustment made pursuant to this
Section 3(a) shall, in the case of a subdivision or combination, be made as of
the effective date thereof, and in the case of a stock dividend, become
effective as of the record date therefore. In the event of any such adjustment
of the total number of shares of Common Stock purchasable upon the exercise of
this Warrant, the exercise price shall be adjusted to be the amount resulting
from dividing the number of shares of Common Stock covered by this Warrant
immediately after such adjustment into the total amount payable upon exercise of
this Warrant in full immediately prior to such adjustment.

                  (b)      If any capital reorganization or reclassification of
the capital stock of the Company (other than a subdivision or combination
referred to in Section 3(a) hereof), or consolidation or merger of the Company
with another corporation, or the sale of all or substantially all of its assets
to another corporation shall be effected in such a way that holders of Common
Stock shall be entitled to receive stock, securities or assets with respect to
or in exchange for such Common Stock, then, as a condition of such
reorganization, reclassification, consolidation, merger or sale, the Holder
shall have the right to purchase and receive upon the basis and upon the terms
and conditions specified in this Warrant and in lieu of the Common Stock
immediately theretofore purchasable and receivable upon the exercise of the
rights represented hereby, such shares of stock, securities or assets as would
have been issued or delivered to the Holder if he had exercised this Warrant and
had received upon exercise of this Warrant the Common Stock prior to such
reorganization, reclassification, consolidation, merger or sale, unless prior to
the consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger or the corporation purchasing such
assets shall assume by written instrument executed and mailed to the Holder at
the last address of the

                                       2
<PAGE>   5

                                [TASER(R) LOGO]

                 [TASER INTERNATIONAL INCORPORATED LETTERHEAD]

Holder appearing on the books of the Company, the obligation to deliver to the
Holder such shares of stock, securities or assets as, in accordance with the
foregoing provisions, the Holder may be entitled to purchase.

                  (c)      If the Company takes any other action, or if any
other event occurs which does not come within the scope of the provisions of
Paragraphs 3(a) or 3(b) hereof, but which should result in an adjustment in the
exercise price and/or the number of the shares subject to the Warrant in order
to fairly protect the purchase rights of the Holder, an appropriate adjustment
in such purchase rights shall be made by the Company.

                  (d)      No fractional shares of Common Stock are to be issued
upon the exercise of this Warrant, but the Company shall pay a cash adjustment
in respect of any fraction of a share which would otherwise be issuable in an
amount equal to the same fraction of the market price per share of Common Stock
on the date of exercise.

                  (e)      Upon any adjustment of the exercise price or number
of shares purchasable hereunder, the Company shall give written notice thereof,
by first class mail, postage prepaid, addressed to the Holder at the address of
the Holder as shown on the books of the Company, which notice shall state the
Warrant exercise price resulting from such adjustment and the increase or
decrease, if any, in the number of shares purchasable at such price upon the
exercise of this Warrant, setting forth in reasonable detail the method of
calculation and the facts upon which such calculation is based.

         4.       Holder Not Deemed a Stockholder. The Holder shall not be
entitled to vote on or be deemed the holder of Common Stock or any other
securities which may at any time be issuable on the exercise hereof for any
purpose, nor shall anything contained herein be construed to confer upon the
Holder any of the rights of a stockholder of the Company or any right to vote
for the election of directors or upon any mater submitted to stockholders at any
meeting thereof, or give or withhold consent to any corporate action (whether
upon any recapitalization, issue of stock, reclassification of stock, change of
par value or change of stock to no par value, consolidation, merger, conveyance
or otherwise) or to receive notice of meetings or other actions affecting
stockholders, or to receive dividends or subscription rights or otherwise, until
the rights to purchase Warrant Stock hereunder shall have been exercised.

         5.       Transferability. Prior to making any disposition of the
Warrant or of any Warrant Stock, the Holder will give written notice to the
Company describing briefly the manner of such proposed disposition. The Holder
will not make any such disposition unless or until: (i) a registration statement
under the Securities Act of 1933, as amended (the "Securities Act") covering the
proposed distribution has been filed by the Company and has become effective,
(ii) the disposition is made in accordance with Rule 144 under the Securities
Act or (iii) the Company has received an opinion of counsel for the Holder
reasonably satisfactory to the

                                       3
<PAGE>   6
                                [TASER(R) LOGO]

                 [TASER INTERNATIONAL INCORPORATED LETTERHEAD]

Company stating that registration under the Securities Act is not required with
respect to such disposition.

         6.       Investment Representations. The Holder acknowledges and agrees
that: (i) this Warrant and any shares of Warrant Stock which may be acquired
upon exercise hereof are being or will be acquired for investment purposes and
not with a view toward the distribution or sale thereof, (ii) this Warrant and
the Warrant Stock will not be registered under either federal or applicable
state securities laws and must be held indefinitely unless subsequently
registered under the Securities Act or an exemption from such registration is
available, (iii) investment in the Company is highly speculative, (iv) he has
such knowledge and experience in financial and business matters as to be capable
of evaluating the merits and risks of his investment and has the ability to bear
the economic risks (including the risk of a total loss) of his investment, (v)
he has had the opportunity to ask questions of the Company concerning the
Company's business and assets and to obtain any additional information which he
considered necessary to verify the accuracy or to amplify the Company's
disclosures with respect to his investment and has had all such questions
answered to his satisfaction and (vi) the Company will be relying upon the
foregoing investment representations in agreeing to issue this Warrant and the
Warrant Stock to the Holder. The Holder acknowledges that the transferability of
the Warrant and of any Warrant Stock will be subject to restrictions imposed by
all applicable federal and state securities laws and agrees that the
certificates evidencing the Warrant Stock may be imprinted with an appropriate
legend setting forth these restrictions on transferability.

         7.       Amendment. This Warrant and any term hereof may be changed,
waived, discharged or terminated only by means of an instrument in writing
signed by the party against which enforcement of the charge, waiver, discharge
or termination is sought.

         8.       Termination. This Warrant shall terminate and no longer be
exercisable at 5:00 p.m., Arizona time on January 23, 2006.

Dated:  January 23, 2001            TASER INTERNATIONAL, INC.

                                    By: /s/ [Illegible]
                                        ----------------------------------------
                                    Its:    President
                                        ----------------------------------------

Accepted as of the above date:

/s/ PHIL PURER
--------------------------------
Phil Purer

                                       4
<PAGE>   7

                                   EXHIBIT A

                                WARRANT EXERCISE

                  (To be signed only upon exercise of Warrant)

TO:  TASER International, Inc., 7339 E. Evans Road, Scottsdale, AZ 85260

      The undersigned, the holder of the foregoing Warrant, hereby irrevocably
elects to exercise the purchase right represented by such Warrant for, and to
purchase thereunder,        shares of Common Stock of TASER International,
Inc., and herewith encloses $       in full payment therefore. Please issue a
certificate for such shares in the name of the undersigned and deliver it to
the undersigned at the address stated below. If such number of shares shall not
be all of the share purchasable under the Warrant, unless the Warrant has
expired, please issue a new Warrant Certificate of like tenor for the balance
of the shares purchasable thereunder to be delivered to the undersigned at the
address stated below.

                                    Name
                                         ----------------------------------
                                                  (Please Print)

                                    Address
                                           --------------------------------

                                           --------------------------------

Dated                               Signature
      ---------------------                  ------------------------------

                                       5

<PAGE>   8
PERSONAL GUARANTEE OF LOAN

Reference is hereby made to a loan between, Phil Purer (Payee), and Taser
International. an Arizona Corporation (Debtor) dated January 23, 2001 in the
amount of $500,000.00 plus interest.

In consideration of Payee's having executed said Laon at the request of the
undersigned, the undersigned (Guarantors) hereby jointly and severally
unconditionally guarantee to Payee and Payee's successors and assigns, the
payment of the principal, interest and other sums provided for in said Loan and
the performance and observance of all agreements and conditions contained in
said Loan on the part of Debtor to be performed or observed.

Guarantors hereby waive presentment for payment, demand for payment, notice of
nonpayment or dishonor, protest and notice of protest, diligence in collection,
and any and all formalities that may be legally required to charge them or
either or any of them with liability; and the Guarantors, and each of them, for
further agree that their liability as Guarantors shall in no way be impaired or
affected by any renewals, waivers, or extensions that may be made from time to
time, with or without the knowledge and consent of any one or more of them, of
any default or the time of payment or performance required under said Loan, or
by any forbearance or delay in enforcing any obligation thereof, or by
assignment of said Loan, or by any modifications of the terms or provisions of
the Loan.

The Guarantors further jointly and severally covenant and agree to pay all
expenses and fees, including attorney fees that may be incurred by the Payee or
its successors or assigns enforcing any of the terms or provisions of this
Guarantee.

This Guarantee shall be binding upon the heirs, legal representatives,
successors, and assigns of the Guarantors, and each of them, shall not be
discharged or affected, in whole or in part by the death, bankruptcy,
insolvency of the Guarantors, or anyone or more of them.

This Guarantee is absolute, unconditional, and continuing, and payment of the
sums for which the undersigned becomes liable shall be made at the office of
Payee or its successors or assigns from time to time on demand as the same
become or are declared due.

Guarantors hereby waives any and all benefits under Arizona Revised Statutes
("A.R.S.") Sections 12-1641 -12.1646 and Rule 17(f) of the Arizona Rules of
Civil Procedure.

IN WITNESS THEREOF, Guarantor has hereunto set his hands and seal this
Agreement the 25th day of January, 2001.

Guarantor:  Patrick W. Smith                 Thomas P. Smith

By:  /s/ Patrick W. Smith               By:  /s/ Thomas P. Smith
     --------------------                    -------------------

Date:  January 25, 2001                 Date:  January 25, 2001

         Deanna M. Smith

By:  /s/ Deanna M. Smith
     -------------------

Date:  January 25, 2001

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