Document:

PROMISSORY
      NOTE

     

    
      	
              $__________

            	
              Date
                __________

            

    

    

    FOR
      VALUE RECEIVED, the undersigned (“Maker”),
      promises to pay to the order of Dean Delis, his successors and assignees
      (“Payee”),
      at or at such other place as Payee may from time to time designate, in lawful
      money of the United States of America, the principal sum of
      ________________________ ($XXX,XXX), or such lesser amount that may be
      outstanding pursuant to the terms of this Promissory Note (the
“Note”),
      together with interest on the unpaid principal balance hereof from time to
      time
      outstanding, until maturity as provided below.

    

    
      	 	
                    1.  
                

            	
              Obligation.
                The indebtedness evidenced by this Promissory Note.

            

    

    

    
      	2.  	
              Interest.
                The outstanding principal balance of this Note shall bear interest
                at the
                rate of ten percent (10%) per annum from the date hereof until the
                Maturity Date (as hereinafter defined), but in no event shall such
                interest exceed the Highest Lawful Rate (as hereinafter defined).
                Interest
                is capitalized and due and payable upon expiry of this Promissory
                Note.
                Any payments of principal that become past due shall bear interest
                at
                fifteen percent (15%), but in no event shall such interest exceed
                the
                Highest Lawful Rate. Interest on this Note shall be computed on the
                basis
                of the number of actual days elapsed in a year consisting of 365
                days.

            

    

    

    
      	3.  	
              Payments.
                All amounts owing hereunder, including all accrued and unpaid interest
                and
                the outstanding principal amount hereof shall be due and payable
                ______
                (XXX) days
                from the date the cleared funds are received at the Maker’s business
                account at the Bank of America - Private Bank, Century City, California.
                

            

    

    

    
      	4.  	
              Bridge
                Loan.
                This is a short-term bridge loan and therefore maker shall repay
                the note
                on a pro-rata basis out of first monies at the closing of a substantial
                liquidity event (i.e. a large deposit from a potential customer,
                debenture
                closing, investment banker financing, etc) as herein contemplated,
                or at
                anytime, in whole or in part, without premium or penalty. Any payment
                will
                first be applied to any expenses, then to accrued interest, and thereafter
                to principal.

            

    

    

    
      	5.  	
              Time
                of Essence.
                Time is of the essence with respect to all of Maker’s obligations and
                agreements under this Note.

            

    

    

    
      	6.  	
              Events
                of Default.
                Each of the following shall constitute an “Event of Default” under this
                Note:

            

    

    
      	(a)  	
              The
                failure, refusal or neglect of Maker to pay when due any part of
                the
                principal of, or interest on, this Note after such payment has become
                due
                and payable; or

            

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	(b)  	
              Maker
                fails to perform any covenant or agreement contained herein, other
                than
                the payment of principal of or interest on this Note after such payment
                has become due and payable, within ten (10) days after having received
                written notice of such failure from Payee;
                or

            

    

    

    
      	(c)  	
              If
                Maker (i) becomes insolvent, or makes a transfer in fraud of creditors,
                or
                makes an assignment for the benefit of creditors, or admits in writing
                its
                inability to pay its debts as they become due, (ii) generally is
                not
                paying its debts as such debts become due, (iii) has a receiver or
                custodian appointed for, or a receiver or custodian takes possession
                of,
                all or substantially all of its assets, either in a proceeding brought
                by
                it or in a proceeding brought against it, and such appointment is
                not
                discharged or such possession is not terminated within thirty (30)
                days
                after the effective date thereof, or if it consents or acquiesces
                in such
                appointment or possession, (iv) files a petition for relief under
                the
                United States Bankruptcy Code or any other present or future federal
                or
                state insolvency, bankruptcy or similar laws (all of the foregoing
                hereinafter collectively called “Applicable
                Bankruptcy Law”)
                or an involuntary petition for relief is filed against it under any
                Applicable Bankruptcy Law and such involuntary petition is not dismissed
                within thirty (30) days after the filing thereof, or an order for
                relief
                naming it is entered under any Applicable Bankruptcy Law, or any
                composition, rearrangement, extension, reorganization or other relief
                of
                debtors now or hereafter existing is requested or consented to by
                it, (v)
                fails to have discharged within a period of thirty (30) days any
                attachment, sequestration or similar writ levied upon any of its
                property,
                or (vi) fails to pay within thirty (30) days any final money judgment
                against it.

            

    

    

    Nothing
      contained in this Note shall be construed to limit the Events of Default
      enumerated hereinabove and all such Events of Default shall be
      cumulative.

    

    
      	7.  	
              Remedies.
                Maker agrees that upon the occurrence of any Event of Default, the
                holder
                of this Note may, at its option, without further notice or demand,
                (a)
                declare the outstanding principal balance of and accrued but unpaid
                interest on this Note at once due and payable, (b) pursue any and
                all
                other rights, remedies and recourses available to the holder hereof,
                including, but not limited to, any such rights, remedies or recourses,
                at
                law or in equity, or (c) pursue any combination of the foregoing.
                All
                rights and remedies of such holder shall be cumulative and the holder
                shall be entitled to all the rights of a holder in due course of
                a
                negotiable instrument.

            

    

    
      	  	 

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	8.  	
              No
                Waiver.
                No delay on the part of Payee or other holder of this Note in the
                exercise
                of any power or right under this Note, shall operate as a waiver
                hereof,
                nor shall a single or partial exercise of any power or right preclude
                other or further exercise thereof or the exercise of any other power
                or
                right. Enforcement by the holder of this Note for the payment hereof
                shall
                not constitute an election by such holder of remedies so as to preclude
                the exercise of any other remedy available to such
                holder

            

    

    

    
      	9.  	
              Waiver.
                Except as otherwise expressly set forth herein, Maker and all endorsers,
                sureties, and guarantors hereof hereby jointly and severally waive
                all
                exemption rights under any applicable law, and also waive presentment
                for
                payment, demand, notice of nonpayment, valuation, appraisement, protest,
                demand, dishonor, notice of protest, notice of intent to accelerate,
                notice of acceleration, and all other notices, and without further
                notice
                hereby consent to all renewals, extensions, or partial payments either
                before or after maturity.

            

    

    

    
      	10.  	
              Severability.
                The invalidity, or unenforceability in particular circumstances,
                of any
                provision of this Note shall not extend beyond such provision or
                such
                circumstances and no other provision of this Note shall be affected
                thereby.

            

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    
      	11.  	
              Highest
                Lawful Rate.
                It is expressly stipulated and agreed to be the intent of Maker and
                Payee
                at all times to comply with the applicable state and federal law
                governing
                the maximum rate or amount of interest payable on or in connection
                with
                this Note (or applicable United States federal law to the extent
                that it
                permits Payee to contract for, charge, take, reserve or receive a
                greater
                amount of interest than under state law). If the applicable law is
                ever
                judicially interpreted so as to make the amount of interest exceed
                any
                applicable law or regulation, or render usurious any amount called
                for
                under this Note, or contracted for, charged, taken, reserved or received
                with respect to the indebtedness evidenced by this Note (the “Loan”),
                or if acceleration of the maturity of this Note or if any prepayment
                by
                Maker results in Maker having paid any interest in excess of that
                permitted by law, then it is Maker’s and Payee’s express intent that all
                excess amounts theretofore collected by Payee be credited on the
                principal
                balance of this Note (or, if this Note has been or would thereby
                be paid
                in full, refunded to Maker), and the provisions of this Note and
                the other
                Agreements immediately be deemed reformed and the amounts thereafter
                collectible hereunder and thereunder reduced, without the necessity
                of the
                execution of any new document, so as to permit the recovery of the
                fullest
                amount called for hereunder and thereunder, while complying in all
                respects with applicable law. The right to accelerate the maturity
                of this
                Note does not include the right to accelerate any interest that has
                not
                otherwise accrued on the date of such acceleration, and Payee does
                not
                intend to collect any unearned interest in the event of acceleration.
                All
                sums paid or agreed to be paid to Payee for the use, forbearance
                or
                detention of the Loan shall, to the extent permitted by applicable
                law, be
                amortized, prorated, allocated and spread throughout the full term
                of the
                Loan until payment in full so that the rate or amount of interest
                on
                account of the Loan does not exceed the applicable usury ceiling.
                Notwithstanding any provision contained in this Note or in any of
                the
                other Agreements that permits the compounding of interest, including
                without limitation any provision by which any of the accrued interest
                is
                added to the principal amount of this Note, the total amount of interest
                that Maker is obligated to pay and Payee is entitled to receive with
                respect to this Note shall not exceed the amount calculated on a
                simple
                (i.e.,
                non-compounded) interest basis at the Highest Lawful Rate on principal
                amounts actually advanced to or for the account of Maker, including
                the
                initial principal amount of this Note and any advances made pursuant
                to
                any of the Agreements (such as for the payment of taxes, insurance
                premiums and the like). As used herein, the term “Highest
                Lawful Rate”
                shall mean the maximum non-usurious rate of interest which may be
                lawfully
                contracted for, charged, taken, reserved or received by Payee from
                Maker
                in connection with the Loan under the applicable state law (or applicable
                United States federal law, to the extent that it permits Payee to
                contract
                for, charge, take, reserve or receive a greater amount of interest
                than
                under state law).

            

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    
      	12.  	
              Notices.
                All notices or demands required or permitted hereunder shall be in
                writing
                and shall be delivered personally or sent by registered or certified
                mail,
                postage prepaid:

            

    

    

    If
      to the
      Payee:

    

    Dean
      Delis

    2929
      Campus Drive, Ste. 175

    San
      Mateo, CA 94405

    

    

    If
      to the
      Maker:

    

    Statmon
      Technologies Corp.

    345
      N
      Maple Drive, Suite 120

    Los
      Angeles, CA 90210

    Telephone:
      310-288-4580

    Fax:
      310-288-4381

    

    
      	13.  	
              Governing
                Law and Exclusive Venue.
                This Note shall be construed in accordance with and governed by the
                laws
                of the State of California. The Payee, by acceptance hereof, and
                Maker
                hereby agree any legal action in connection with this Note shall
                be
                instituted only in the courts of
                California.

            

    

    

    
      	14.  	
              Successors
                and Assigns.
                The provisions of this Note are binding on the assigns and successors
                of
                the Maker and shall inure to the benefit of the holder hereof and
                such
                holder's successors and assigns.

            

    

    

    
      	15.  	
              Headings.
                The headings of the sections of this Note are inserted for convenience
                only and shall not be deemed to constitute a part
                hereof

            

    

    

    IN
      WITNESS WHEREOF, the undersigned has executed this Note to be effective as
      of
      the date first written above.

     

    
      
        	 	 	 
	 	
                STATMON
                  TECHNOLOGIES CORP.

              
	 	 	 
	
              	By:  	  	
              
	 	Name:	  	
              
	 	Title:	  	
              
	 	 

      

     

    
      
        
        

      

      
        5PROMISSORY
      NOTE

     

    
      	
              $________ 

            	
               

            	
               

            	
               Date_____________

            

    

     

    FOR
      VALUE RECEIVED, the undersigned (“Maker”),
      promises to pay to the order of _______________________________________, his
      successors and assignees (“Payee”),
      at or at such other place as Payee may from time to time designate, in lawful
      money of the United States of America, the principal sum of
      _____________________, or such lesser amount that may be outstanding pursuant
      to
      the terms of this Promissory Note (the “Note”),
      together with interest on the unpaid principal balance hereof from time to
      time
      outstanding, until maturity as provided below.

    

    
      	
               

            	
              1.

            	
              Obligation.
                The indebtedness evidenced by this Promissory Note.

            

    

    

    
      	
               

            	
              2.

            	
              Interest.
                The outstanding principal balance of this Note shall bear interest
                at the
                rate of ten percent (10%) per annum from the date hereof until the
                Maturity Date (as hereinafter defined), but in no event shall such
                interest exceed the Highest Lawful Rate (as hereinafter defined).
                Interest
                is capitalized and due and payable upon expiry of this Promissory
                Note.
                Any payments of principal or interest that become past due shall
                bear
                interest at the Highest Lawful Rate. Interest on this Note shall
                be
                computed on the basis of the number of actual days elapsed in a year
                consisting of 365 days.

            

    

    

    
      	
               

            	
              3.

            	
              Payments.
                All amounts owing hereunder, including all accrued and unpaid interest
                and
                the outstanding principal amount hereof shall be due and
                payable
                _________
                from the date the cleared funds are received at the Maker’s business
                account at the Bank of America - Private Bank, Century City, California.
                

            

    

    

    
      	
               

            	
              4.

            	
              Prepayments.
                Maker shall have the right to pay, in whole or in part, the principal
                of
                this Note at any time without premium or penalty. Any payment will
                first
                be applied to any expenses, then to accrued interest, and thereafter
                to
                principal.

            

    

    

    
      	
               

            	
              5.

            	
              Time
                of Essence.
                Time is of the essence with respect to all of Maker’s obligations and
                agreements under this Note.

            

    

    

    
      	
               

            	
              6.

            	
              Events
                of Default.
                Each of the following shall constitute an “Event of Default” under this
                Note:

            

    

     

    
      	
               

            	
              (a)

            	
              The
                failure, refusal or neglect of Maker to pay when due any part of
                the
                principal of, or interest on, this Note after such payment has become
                due
                and payable; or

            

    

    

    
      	
               

            	
              (b)

            	
              Maker
                fails to perform any covenant or agreement contained herein, other
                than
                the payment of principal of or interest on this Note after such payment
                has become due and payable, within ten (10) days after having received
                written notice of such failure from Payee;
                or

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (c)

            	
              If
                Maker (i) becomes insolvent, or makes a transfer in fraud of creditors,
                or
                makes an assignment for the benefit of creditors, or admits in writing
                its
                inability to pay its debts as they become due, (ii) generally is
                not
                paying its debts as such debts become due, (iii) has a receiver or
                custodian appointed for, or a receiver or custodian takes possession
                of,
                all or substantially all of its assets, either in a proceeding brought
                by
                it or in a proceeding brought against it, and such appointment is
                not
                discharged or such possession is not terminated within thirty (30)
                days
                after the effective date thereof, or if it consents or acquiesces
                in such
                appointment or possession, (iv) files a petition for relief under
                the
                United States Bankruptcy Code or any other present or future federal
                or
                state insolvency, bankruptcy or similar laws (all of the foregoing
                hereinafter collectively called “Applicable
                Bankruptcy Law”)
                or an involuntary petition for relief is filed against it under any
                Applicable Bankruptcy Law and such involuntary petition is not dismissed
                within thirty (30) days after the filing thereof, or an order for
                relief
                naming it is entered under any Applicable Bankruptcy Law, or any
                composition, rearrangement, extension, reorganization or other relief
                of
                debtors now or hereafter existing is requested or consented to by
                it, (v)
                fails to have discharged within a period of thirty (30) days any
                attachment, sequestration or similar writ levied upon any of its
                property,
                or (vi) fails to pay within thirty (30) days any final money judgment
                against it.

            

    

    

    Nothing
      contained in this Note shall be construed to limit the Events of Default
      enumerated hereinabove and all such Events of Default shall be
      cumulative.

    

    
      	
               

            	
              7.

            	
              Remedies.
                Maker agrees that upon the occurrence of any Event of Default, the
                holder
                of this Note may, at its option, without further notice or demand,
                (a)
                declare the outstanding principal balance of and accrued but unpaid
                interest on this Note at once due and payable, (b) pursue any and
                all
                other rights, remedies and recourses available to the holder hereof,
                including, but not limited to, any such rights, remedies or recourses,
                at
                law or in equity, or (c) pursue any combination of the foregoing.
                All
                rights and remedies of such holder shall be cumulative and the holder
                shall be entitled to all the rights of a holder in due course of
                a
                negotiable instrument.

            

    

     

    
      	
               

            	
              8.

            	
              No
                Waiver.
                No delay on the part of Payee or other holder of this Note in the
                exercise
                of any power or right under this Note, shall operate as a waiver
                hereof,
                nor shall a single or partial exercise of any power or right preclude
                other or further exercise thereof or the exercise of any other power
                or
                right. Enforcement by the holder of this Note for the payment hereof
                shall
                not constitute an election by such holder of remedies so as to preclude
                the exercise of any other remedy available to such
                holder

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              9.

            	
              Waiver.
                Except as otherwise expressly set forth herein, Maker and all endorsers,
                sureties, and guarantors hereof hereby jointly and severally waive
                all
                exemption rights under any applicable law, and also waive presentment
                for
                payment, demand, notice of nonpayment, valuation, appraisement, protest,
                demand, dishonor, notice of protest, notice of intent to accelerate,
                notice of acceleration, and all other notices, and without further
                notice
                hereby consent to all renewals, extensions, or partial payments either
                before or after maturity.

            

    

    

    
      	
               

            	
              10.

            	
              Severability.
                The invalidity, or unenforceability in particular circumstances,
                of any
                provision of this Note shall not extend beyond such provision or
                such
                circumstances and no other provision of this Note shall be affected
                thereby.

            

    

    

    
      	
               

            	
              11.

            	
              Highest
                Lawful Rate.
                It is expressly stipulated and agreed to be the intent of Maker and
                Payee
                at all times to comply with the applicable state and federal law
                governing
                the maximum rate or amount of interest payable on or in connection
                with
                this Note (or applicable United States federal law to the extent
                that it
                permits Payee to contract for, charge, take, reserve or receive a
                greater
                amount of interest than under state law). If the applicable law is
                ever
                judicially interpreted so as to make the amount of interest exceed
                any
                applicable law or regulation, or render usurious any amount called
                for
                under this Note, or contracted for, charged, taken, reserved or received
                with respect to the indebtedness evidenced by this Note (the “Loan”),
                or if acceleration of the maturity of this Note or if any prepayment
                by
                Maker results in Maker having paid any interest in excess of that
                permitted by law, then it is Maker’s and Payee’s express intent that all
                excess amounts theretofore collected by Payee be credited on the
                principal
                balance of this Note (or, if this Note has been or would thereby
                be paid
                in full, refunded to Maker), and the provisions of this Note and
                the other
                Agreements immediately be deemed reformed and the amounts thereafter
                collectible hereunder and thereunder reduced, without the necessity
                of the
                execution of any new document, so as to permit the recovery of the
                fullest
                amount called for hereunder and thereunder, while complying in all
                respects with applicable law. The right to accelerate the maturity
                of this
                Note does not include the right to accelerate any interest that has
                not
                otherwise accrued on the date of such acceleration, and Payee does
                not
                intend to collect any unearned interest in the event of acceleration.
                All
                sums paid or agreed to be paid to Payee for the use, forbearance
                or
                detention of the Loan shall, to the extent permitted by applicable
                law, be
                amortized, prorated, allocated and spread throughout the full term
                of the
                Loan until payment in full so that the rate or amount of interest
                on
                account of the Loan does not exceed the applicable usury ceiling.
                Notwithstanding any provision contained in this Note or in any of
                the
                other Agreements that permits the compounding of interest, including
                without limitation any provision by which any of the accrued interest
                is
                added to the principal amount of this Note, the total amount of interest
                that Maker is obligated to pay and Payee is entitled to receive with
                respect to this Note shall not exceed the amount calculated on a
                simple
                (i.e.,
                non-compounded) interest basis at the Highest Lawful Rate on principal
                amounts actually advanced to or for the account of Maker, including
                the
                initial principal amount of this Note and any advances made pursuant
                to
                any of the Agreements (such as for the payment of taxes, insurance
                premiums and the like). As used herein, the term “Highest
                Lawful Rate”
                shall mean the maximum non-usurious rate of interest which may be
                lawfully
                contracted for, charged, taken, reserved or received by Payee from
                Maker
                in connection with the Loan under the applicable state law (or applicable
                United States federal law, to the extent that it permits Payee to
                contract
                for, charge, take, reserve or receive a greater amount of interest
                than
                under state law).

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              12.

            	
              Notices.
                All notices or demands required or permitted hereunder shall be in
                writing
                and shall be delivered personally or sent by registered or certified
                mail,
                postage prepaid:

            

    

     

    If
      to the
      Payee:

     

    

    

    If
      to the
      Maker:

    

    Statmon
      Technologies Corp.

    345
      N
      Maple Drive

    Suite
      120

    Los
      Angeles, CA 90210

    Telephone:
      310-288-4580

    Fax:
      310-288-4381

    

    
      	
               

            	
              13.

            	
              Governing
                Law and Exclusive Venue.
                This Note shall be construed in accordance with and governed by the
                laws
                of the State of California. The Payee, by acceptance hereof, and
                Maker
                hereby agree any legal action in connection with this Note shall
                be
                instituted only in the courts of
                California.

            

    

    

    
      	
               

            	
              14.

            	
              Successors
                and Assigns.
                The provisions of this Note are binding on the assigns and successors
                of
                the Maker and shall inure to the benefit of the holder hereof and
                such
                holder’s successors and assigns.

            

    

    

    
      	
               

            	
              15.

            	
              Headings.
                The headings of the sections of this Note are inserted for convenience
                only and shall not be deemed to constitute a part
                hereof

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned has executed this Note to be effective as
      of
      the date first written above.

     

    
      	
               

            	
               

            	
              STATMON
                TECHNOLOGIES CORP.

            
	
               

               

            	
               

               

            	
               

            	
               

               

            
	
               

            	
               

            	
              By: 

            	
               

            
	
               

            	
              Name:

            	
               

            
	
               

            	
              Title:

            	
               

            

    

     

    
      
        
        

      

      
        5

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