Document:

SHORT TERM ADVANCE

  Exhibit 10.16
  
 SHORT
TERM ADVANCE

	$300,000	 September 12, 2002
 

          FOR VALUE RECEIVED,
the undersigned, MediaBin, Inc., a Georgia corporation (the “Borrower”), promises to pay to Venturos AS, a Norwegian corporation (the “Lender”), at P.O. Box 113, 4552 Farsund, Norway (or at such other place as the Lender may
designate in writing to the Borrower), in lawful money of the United States of America, the principal sum of three hundred thousand dollars ($300,000), without interest, as hereinafter provided.
 

          The indebtedness evidenced by this Advance shall be due and payable on January 1, 2003, as hereinabove provided.
  
          To secure all of its obligations hereunder the Company hereby grants to the Lender a security interest in all of the
Accounts Receivable of the Company (as evidenced by invoices sent to customers), whether now existing or subsequently acquired (the “Collateral”). The Company, at its own expense, will promptly execute and deliver or file all
financing statements and similar documents and take such further actions that the Lender may reasonably request from time to time in order to perfect and/or maintain the security interest hereby granted. The Lenders are entitled to all of the rights
and remedies of a secured party under the Uniform Commercial Code as in force in the State of Georgia, which rights and remedies will be cumulative and not exclusive of any other rights and remedies. 
  
          The Company hereby agrees (i) the Company shall not knowingly and of its own volition create, incur, assume, or
suffer to exist any encumbrance of any kind on the Collateral without the express written consent of the Lender, and (ii) the security interest in the Collateral granted to the Lender pursuant to this Advance shall rank senior in priority to any
security interest in the Collateral hereafter granted or existing.
  
          The
Borrower hereby waives presentment for payment, demand, notice of non-payment or dishonor, protest and notice of protest, or any other notice of any kind with respect thereto.
  
          Time is of the essence of this Advance.
  
 
        This Advance shall be deemed to be made pursuant to the laws of the State of Georgia.
  
 IN WITNESS
WHEREOF, the duly authorized officers of the Borrower have executed, sealed, and delivered this Advance, as of the day and year first above written.
  

		 	MEDIABIN, INC.
	
	 	By: 	
/s/ DAVID MORAN
				

	 	 	 	David P. Moran
President and Chief Executive Officer

  

		 	 
	
	 	Attest:	
/s/ HAINES HARGRETT
				

	 	 	 	Haines H. Hargrett
SecretarySHORT TERM ADVANCE

  Exhibit 10.17
 SHORT TERM ADVANCE

	 $100,000
 	 September 27, 2002
 

           FOR VALUE
RECEIVED, the undersigned, MediaBin, Inc., a Georgia corporation (the “Borrower”), promises to pay to Venturos AS, a Norwegian corporation (the “Lender”), at P.O. Box 113, 4552 Farsund, Norway (or at such
other place as the Lender may designate in writing to the Borrower), in lawful money of the United States of America, the principal sum of one hundred thousand dollars ($100,000), without interest, as hereinafter provided.
            The indebtedness evidenced by this Advance shall be due and payable on January 1, 2003, as hereinabove provided.
            To secure all of its obligations hereunder the Company hereby grants to the Lender a security interest in all of the Accounts Receivable of the Company (as evidenced
by invoices sent to customers), whether now existing or subsequently acquired (the “Collateral”). The Company, at its own expense, will promptly execute and deliver or file all financing statements and similar documents and take
such further actions that the Lender may reasonably request from time to time in order to perfect and/or maintain the security interest hereby granted. The Lenders are entitled to all of the rights and remedies of a secured party under the Uniform
Commercial Code as in force in the State of Georgia, which rights and remedies will be cumulative and not exclusive of any other rights and remedies. 
 
          The Company hereby agrees (i) the Company shall not knowingly and of its own volition create, incur, assume, or suffer to exist any encumbrance of any kind on the Collateral without the
express written consent of the Lender, and (ii) the security interest in the Collateral granted to the Lender pursuant to this Advance shall rank senior in priority to any security interest in the Collateral hereafter granted or existing.

           The Borrower hereby waives presentment for payment, demand, notice of non-payment or dishonor, protest and notice of protest, or
any other notice of any kind with respect thereto.
            Time is of the essence of this Advance.
            This Advance shall be deemed to be made pursuant to the laws of the State of Georgia.
 IN WITNESS
WHEREOF, the duly authorized officers of the Borrower have executed, sealed, and delivered this Advance, as of the day and year first above written.
  

		 	MEDIABIN, INC.
	
 	 	By: 	
 /s/ DAVID MORAN
				 
 
	 	 	 	David P. Moran
 President and Chief Executive Officer

  

		 	 
	
 	 	Attest:	
 /s/ HAINES HARGRETT
				 
 
	 	 	 	Haines H. Hargrett
 SecretaryAMENDMENT TO LOANS  AGREEMENT

  Exhibit 10.18
 MEDIABIN, INC.

AMENDMENT TO LOANS AGREEMENT
          This Amendment to Loans Agreement (the “Amendment
Agreement”) is entered into as of the 30th day of September, 2002, by and among MediaBin, Inc., a Georgia corporation (the “Company”), Venturos AS, a Norwegian corporation (“Venturos”), Glastad Holding, Ltd., a Cayman
Islands corporation (“Glastad”) and Gezina AS, a Norwegian corporation (“Gezina” and collectively with Venturos and Glastad, the “Lenders”).
          WHEREAS, in 2000, 2001 and 2002 the officers of the Company have previously executed, on behalf of the Company, certain secured and unsecured
convertible promissory notes (the “Notes”) by and between the Company and Venturos, by and between the Company and Glastad and by and between the Company and Gezina; and
          WHEREAS, in connection with the issuance of each Note, the Company and the respective Lender entered into a Loan Agreement (the “Loan
Agreements”); and
          WHEREAS, the Notes and Loan Agreements by and between the Company and Venturos (the
“Venturos Notes”) are listed on Exhibit A, the Notes and Loan Agreements between the Company and Glastad (the “Glastad Notes”) are listed on Exhibit
B and the Notes and Loan Agreements between the Company and Gezina are listed on Exhibit C; and
          WHEREAS, the Company and the Lenders agree that it would be in the best interests of the Company, the Company’s shareholders, and each of
the Lenders if each Loan Agreement was amended to make the principal and interest of each Note convert into shares of common stock of the Company (“Common Stock”) on September 30, 2002 using a conversion price of $.20 per share of Common
Stock.
          NOW, THEREFORE, in consideration of the mutual promises, representations, warranties, covenants and
conditions set forth in this Amendment Agreement, as well as for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Company and each Lender, the parties to this Agreement mutually agree as
follows:
          1.       The following provision shall be
added to each Loan Agreement: “Notwithstanding any other provision of this Agreement, on September 30, 2002, the outstanding principal and accrued interest on the Note (the “Loan Amount”) shall automatically convert (the
“Conversion”) into a number of shares of Company Common Stock equal to the Loan Amount divided by $.20 (rounded to the nearest whole share). Immediately effective upon such conversion, this Agreement shall terminate and the Note shall be
fully satisfied. Within five (5) business days after the Conversion, Lender will deliver the original Note to Company for cancellation.” 
          2.       This Amendment Agreement shall be effective with respect to all Loan Agreements
when been executed by all parties, but shall not effective with respect to any Loan Agreement until executed by all parties.
          3.       No further amendments shall be deemed to have made to the Loan Agreements by
virtue of this Amendment Agreement; provided, however, that 
 IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above
written.

		MediaBin, Inc.	 	 
	 	By: 	
 /s/ DAVID MORAN	 	 	
 
			 
 			
	 	Its:	President	 	 	 

 
      
 

   

		Venturos AS	 	 
	 	By: 	
TERJE MIKALSEN	 	 	

			
			
	 	Its:	President & CEO	 	 	 

		Glastad Holding, Ltd.	 	 
	 	By: 	
/s/ ARILD NILSEN	 	 	

			
			
	 	Its:	 	 	 	 
			
			

		Gezina AS	 	 
	 	By: 	
/s/ ERIK ENGEBRETSEN	 	 	

			
			
	 	Its:	 	 	 	 
			
			

   
  
  
 

  EXHIBIT A
 Loan Agreement between MediaBin, Inc. and Venturos Holding AS for $1,000,000 dated March 23, 2000 
 Term Promissory Note between MediaBin, Inc. and Venturos Holding AS for $1,000,000 dated March 23, 2000 
 Loan Agreement between MediaBin, Inc. and Venturos Holding AS for $750,000 dated
October 11, 2000 
 Term Promissory Note between MediaBin, Inc. and Venturos Holding AS for $750,000 dated October 11, 2000 
 Loan Agreement between MediaBin, Inc. and Venturos
Holding AS for $2,500,000 dated December 28, 2000 
 Term Promissory Note between MediaBin, Inc. and Venturos Holding AS for $2,500,000 dated December 28, 2000 
 Loan Agreement
between MediaBin, Inc. and Venturos Holding AS for $500,000 dated April 4, 2001
 Term Promissory Note between MediaBin, Inc. and Venturos Holding AS for $500,000 dated April 4, 2001
 Loan Agreement between MediaBin, Inc. and Venturos Holding AS for $2,000,000 dated June 21, 2001
 Term Promissory Note between MediaBin, Inc. and Venturos Holding AS for $2,000,000 dated June 21,
2001
 Loan Agreement between MediaBin, Inc. and Venturos AS for $2,152,305 dated July 1, 2002
 Term Promissory Note between MediaBin, Inc. and Venturos AS for $2,152,305 dated
July 1, 2002
 Loan Agreement between MediaBin, Inc. and Venturos AS for $510,000 dated September 30, 2002
 Term Promissory Note between MediaBin, Inc. and Venturos AS for
$190,000 dated July 10, 2002
 Term Promissory Note between MediaBin, Inc. and Venturos AS for $75,000 dated July 30, 2002
 Term Promissory Note between MediaBin, Inc. and
Venturos AS for $151,000 dated August 15, 2002
 Term Promissory Note between MediaBin, Inc. and Venturos AS for $94,000 dated September 4, 2002
   
 

  EXHIBIT B
 Loan Agreement between MediaBin, Inc. and Glastad Capital AS for $1,000,000 dated March 23, 2000 
 Term Promissory Note between MediaBin, Inc. and Glastad Capital AS for $1,000,000 dated March 23, 2000 
 Loan Agreement between MediaBin, Inc. and Glastad Capital AS for $750,000 dated
October 11, 2000 
 Term Promissory Note between MediaBin, Inc. and Glastad Capital AS for $750,000 dated October 11, 2000 
 Loan Agreement between MediaBin, Inc. and Glastad
Capital AS for $750,000 dated June 21, 2001 
 Term Promissory Note between MediaBin, Inc. and Glastad Capital AS for $750,000 dated June 21, 2001 
 Loan Agreement between
MediaBin, Inc. and Glastad Holding, Ltd for $656,082 dated July 1, 2002 
 Term Note between MediaBin, Inc. and Glastad Holding, Ltd for $656,082 dated July 1, 2002 
 Loan
Agreement between MediaBin, Inc. and Glastad Holding, Ltd for $185,000 dated September 30, 2002 
 Term promissory Note between MediaBin, Inc. and Glastad Holding, Ltd for $65,000 dated July 10, 2002 

Term promissory Note between MediaBin, Inc. and Glastad Holding, Ltd for $30,000 dated July 30, 2002 
 Term promissory Note between MediaBin, Inc. and Glastad Holding, Ltd for $60,000
dated August 14, 2002 
 Term promissory Note between MediaBin, Inc. and Glastad Holding, Ltd for $30,000 dated August 29, 2002 
   
 

  EXHIBIT C
 Loan Agreement between MediaBin, Inc. and Gezina AS for $580,539 dated July 1, 2002 
 Term Promissory Note between MediaBin, Inc. and Gezina AS for $580,539 dated July 1, 2002 
 Loan Agreement between MediaBin, Inc. and Gezina AS for $125,000 dated September 30, 2002 
 Term Promissory Note between MediaBin, Inc. and Gezina AS for $45,000 dated July 16, 2002 
 Term Promissory Note between MediaBin, Inc. and Gezina AS for $56,000 dated August 13, 2002

 Term Promissory Note between MediaBin, Inc. and Gezina AS for $24,000 dated August 29, 2002

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