Document:

Promissory Note Dated January 5, 2005

 Exhibit 10.27 
  
 TERM NOTE 
  

			
	$581,538.00	 	January 5, 2005

  
 FOR VALUE RECEIVED,
the undersigned UCN, INC., a Delaware corporation (the “Obligor”), promises to pay to the order of DAVID O. PETERSON, an individual (the “Obligee”), the principal sum of FIVE HUNDRED EIGHTY ONE THOUSAND FIVE HUNDRED
THIRTY EIGHT AND NO/100 DOLLARS ($581,538.00). 
  
 1. Payment. All payments
of principal on this Note shall be payable in lawful currency of the United States of America to the Obligee at 1551 Watership Down, Riverton, Utah 84065, in immediately available funds. All payments made to the Obligee shall be made without setoff,
deduction or counterclaim. Whenever any payment to be made shall otherwise be due on a day that is not a business day, such payment shall be made on the immediately following business day. The unpaid principal amount of this Note shall be payable,
without interest, as follows: 
  
 (a) A payment of $195,384.50 on
January 5, 2005 and a payment of $4,745.00 on January 15, 2005; 
  
 (b) 11 monthly payments on the 15th day of each month beginning February 15, 2005 each in an amount equal to 1.6 percent of collections on Enhanced Service Revenue in the calendar month ending immediately preceding each payment date, but in
no event will each such payment be less that $4,745.00 or greater than $14,044.00; 
  
 (c) 12 monthly payments on the 15th day of each month beginning January 15, 2006
each in an amount equal to 1.6 percent of collections on Enhanced Service Revenue in the calendar month ending immediately preceding each payment date, but in no event will each such payment be less that $9,360.00 or greater than $18,720.00;

  
 (d) 12 monthly payments on the 15th day of each month beginning January 15, 2007 each in an amount equal to 1.6 percent of collections on Enhanced Service Revenue
in the calendar month ending immediately preceding each payment date, but in no event will each such payment be less that $14,044.00 or greater than $23,405.00; and 
  
 (e) All remaining unpaid principal on or before January 5, 2008. 
  
 For purposes of this Note, the term “Enhance Service Revenue” means all of
Obligor’s revenues from the sale or provisioning to customers of the “Enhanced Services” enumerated below, including, the long distance or voice over internet service revenue associated with delivering or providing the services to
customers. “Enhanced Services” means those capabilities, ideas, methods, software, products and practices, which enhance traditional communications by providing capabilities in addition to simple two-party connectivity. Enhanced Services
shall include, by way of example and not limitation, automatic contact distribution “ACD”, quality management voice recording, call routing to agents, call routing based on agent capability and 

 
proficiency, predictive dialing, power dialing, preview dialing, interactive voice response “IVR”, real-time and historical management reporting,
communication application building and application building tools, IVR building tools, on-demand contact routing, any customer provisioned or defined communications service, any communications product or service that uses real-time or near real-time
data (other than caller input), any communications product or service that uses any data specific to any individual, any communications product or service that uses any data or information stored on customer network or customer equipment, and call
center applications, all as the preceding applies to voice communications over the telephone, email, chat, instant messaging, video, and fax; provided, however, in no event shall Enhanced Services include any personal messaging and one number
services such as, conference calling, voice mail, fax-to-email, or voice-mail-to-email as those services are sold by Buyers as of October 1, 2003 and that is based on the I-Link Internet protocol network owned and operated by Obligor and based on
the software licensed by Obligor from I-Link Communications, Inc. or I-Link Incorporated. 
  
 2. Default. The Term “Event of Default” shall mean any of the events set forth in this Section 2. 
  

(a) The Obligor shall default in the payment when due of any principal of this Note and such default shall continue unremedied for a period of five
days; 
  
 (b) The Obligor shall: 
  
 (i) become insolvent or generally fail to pay, or admit in
writing its inability to pay, debts as they become due; 
  
 (ii) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator or other custodian for the Obligor any of its property or make a general assignment for the benefit of creditors;

  
 (iii) in the absence of such application,
consent, or acquiescence, permit or suffer to exist the appointment of a trustee, receiver, sequestrator or other custodian for the Obligor or for a substantial part of its property, and such trustee, receiver, sequestrator or other custodian shall
not be discharged within 60 days; 
  
 (iv) permit
or suffer to exist the commencement of any bankruptcy, plan reorganization, debt arrangement or other case or proceeding under any bankruptcy or insolvency law, or any dissolution, winding up or liquidation proceeding, in respect of the Obligor and,
if such case or proceeding is not commenced by the Obligor, such case or proceeding shall be consented to or acquiesced in or shall result in the entry of an order for relief or shall remain for 60 days undismissed; or 
  
 (v) take any action authorizing, or in furtherance of, any
of the foregoing. 
  

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 (c) The pledge of collateral as security for the obligations represented by this Note under the Security
and Pledge Agreement of even date herewith shall cease to be valid at any time. 
  
 (d) The Obligor shall breach any of its covenants set forth in Section 3 of the Purchase Option Agreement dated October 1, 2003, to which the Obligor and Obligee are parties, and such breach shall remain uncured 30
days following written notice of the breach is given by the Obligee to the Obligor or, if the breach is not susceptible to cure within 30 days of such notice, Obligor has failed to take action within 30 days following the written notice to cure the
breach in a manner and within a time period reasonable under the circumstances. 
  
 (e) Obligor terminates the employment of Obligee under the Employment Agreement of even date herewith between the Obligor and the Obligee (the “Employment Agreement”) without cause as provided therein.

  
 (f) If any Event of Default described in subsection (b) of
Section 2 shall occur, the outstanding principal amount of this Note shall automatically be and become immediately due and payable without notice, demand, or presentment. 
  
 (g) If any Event of Default (other than any Event of Default described in subsection (b)) shall occur for any reason,
whether voluntary or involuntary, and be continuing, the Obligee may, upon notice or demand declare all or any portion of the outstanding principal amount of this Note to be due and payable, whereupon the full unpaid amount of principal shall be and
become immediately due and payable without further notice, demand, or presentment. 
  
 3. Costs and Expenses. The Obligor agrees to pay and reimburse the Obligee upon demand for all reasonable out-of-pocket expenses (including reasonable attorneys’ fees and expenses) incurred by the Obligee in enforcing this Note
or in connection with any restructuring or “work-out” of any obligation payable hereunder. 
  
 THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF UTAH. 
  
 THE OBLIGOR AND OBLIGEE HEREBY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION
OR PROCEEDING BASED UPON, ARISING OUT OF, OR IN ANY WAY RELATING TO (i) THIS NOTE; (ii) ANY OTHER PRESENT OR FUTURE INSTRUMENT OR AGREEMENT BETWEEN OBLIGEE AND OBLIGOR; OR (iii) ANY CONDUCT, ACTS OR OMISSIONS OF OBLIGEE OR OBLIGOR OR ANY OF THEIR
DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, ATTORNEYS OR ANY OTHER PERSONS AFFILIATED WITH OBLIGEE OR OBLIGOR; IN EACH OF THE FOREGOING CASES, WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE. 
  

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 The Obligor hereby waives all requirements as to diligence, presentment, demand of payment, protest and
notice of any kind with respect to this Note. All amounts owing hereunder are payable by the Obligor without relief from any valuation or appraisal laws. 
  

			
	OBLIGOR
	
	 UCN, INC.

		
	 By:
	 	 /s/ Paul Jarman

	 	 	 Paul Jarman, President

	
	OBLIGEE
	
	 /s/ David O. Peterson

	 David O. Peterson

  

 4License and Transfer Agreement

 Exhibit 10.28 
  
 LICENSE AND TRANSFER AGREEMENT 
  
 This License and Transfer Agreement is effective the 1st day of October 2003, and is made by and between the Ion Group,
L.C., a Utah limited liability company (“Ion”) and MyACD Inc., a Utah corporation (“MyACD”). 
  
 RECITAL 
  
 A. On or about October 1, 2003, MyACD entered into the Cooperation and Management Agreement with Buyers United, Inc. (“BUI”), and in connection therewith (i) MyACD agreed to redeem all of the MyACD capital stock held by James
Andrew Judkins pursuant to the Redemption Agreement and Release, and (ii) Michael L. Shelton, and David O. Peterson entered into the Purchase Option Agreement with BUI pursuant to which BUI has the option of purchasing all of the outstanding capital
stock of MyACD. The Cooperation and Management Agreement, Redemption and Release Agreement, and Purchase Option Agreement are collectively referred to herein as the “BUI Agreements.” BUI agreed to enter into the BUI Agreements so that,
after exercise of the Purchase Option Agreement and payment of all consideration there under for purchase of the capital stock of MyACD, MyACD will be a subsidiary of BUI. 
  
 B. Ion is the holder of certain of the intellectual Property, and has granted a nonexclusive license to rise the
Intellectual Property to MyACD pursuant to that certain Software Agreement between Ion and MyACD dated February 14, 2001. Each of the members of Ion will benefit personally from the transactions contemplated by the BUI Agreements, so that it is in
the best interest of such members and Ion to facilitate the consummation of such transactions. Consequently, Ion desires to confirm in MyACD its rights in the Intellectual Property until either termination of the BUI Agreements or consummation of
the transactions contemplated thereby. 
  
 AGREEMENT 
  
 Now, therefore, in consideration of the foregoing Recital and the terms and
conditions hereinafter set faith, the parties hereto agree as follows: 
  
 1. Effective October 1, 2003, Ion grants to MyACD an exclusive, perpetual, worldwide and fully- paid license to use, modify, incorporate, and create derivative works of the following “Software”: 
  
 Call Routing to agents based on agent capability and proficiency 

Script building interface 
 Scripting
language 
 Call prioritization algorithm 
 ACD Redundancy specification 
 Integrated ACD and TVR 
 Call recording mechanism 
 Database design and schema 
 Call Center Software pro-ramming methodologies 

 (a) All of the following as they relate to the Software; copyrightable works (published or unpublished)
and the copyrights, copyright applications, pending applications, registrations, supplemental registrations and recordings and all rights thereon; 
  
 (b) All of the following as they relate to the Software. technologies, trade secrets, designs, improvements, formulae, engineering concepts, practices,
specifications, recipes, schematics, or know-how, and all other proprietary information or other technical or business information, whether or not a trade-secret and whether or not reduced to writing; and 
  
 (c) All of the following as they relate to the Software: computer
applications, files, tools, utilities, software including without limitation source code, binary executable code, object code, program architecture, flow diagrams, data compilations, formula and algorithm flow charts and notes related thereto,
programs, including without limitation, all versions and releases thereof, database schema and documentation, whether electronically or physically maintained; 
  

(collectively the “Intellectual Property”). Ion and MyACD covenant and agree that neither party shall sell, transfer, license, or otherwise assign to any
other person any right to or interest in the Intellectual Property. 
  
 2. MyACD acknowledges that Ion has all right, title and interest to the Intellectual Property. MyACD agrees that any modifications, enhancements, or derivative works to the Intellectual Property, any products that incorporate any portion of
the Intellectual Properly or the ideas embodied by the Intellectual Property, any documentation for the Intellectual Properly, and any other materials related to the Intellectual Property made by or for MyACD (collectively, “Work Product”)
shall be a “work for hire” for Ion, as such term is understood under U.S. copyright law. To the extent any Work Product is not in a category which constitutes a “work for hire” (“Other Product”), MyACD hereby assigns
all light, title, and interest therein to Ion and shall execute (and if the context requires, cause others to execute) any documents reasonably necessary to assign and secure all right, title and interest in such Work Product to Ton, including
without limitation any underlying copyright, trademark, trade secret and patent rights. MyACD obtains no rights to the Software, either by implication or estoppel, other than as provided expressly herein, MyACD shall voluntarily deliver to ton all
Work Product and all Other Product to Ion every three calendar months. 
  
 3. Effective October 1, 2003, Ion grants to MyACD a non-exclusive, perpetual, world-wide and fully- paid license in and to U.S. Patent No. 6,603,864, A System and Method for Evaluating Agents in Call Center, and U.S. Patent No. 6,587,556,
Skills Based Routing Method and System For Call Center (collectively the “Patents”). Ion and MyACD covenant and agree that neither shall sell, transfer, license, or otherwise assign to any other person any right to or interest in the
Patents. 
  
 4. Effective October 1, 2003, Ion transfers and
assigns to MyACD all of its right, title and interest in and to the trademark “MyACD” to the extent of any common law or statutory trademark rights Yon may have therein. 
  
 5. Ion and MyACD covenant rind agree that neither will disclose to any other person, tiny information in written, graphic,
machine-readable, or other tangible form, or any 

  

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information orally or electronically, of or pertaining to the Intellectual Property or the Patents. Since unauthorized transfer or disclosure of any
information on the Intellectual Property or Patents will substantially diminish its value and injure the other party in ways that cannot be remedied fully by money damages, either parties breach or threatened breach of this Section 5 will entitle
the other party to equitable relief (including orders for specific performance and injunctions), as well as monetary damages. 
  
 6. Neither this Agreement nor any right or obligation hereunder may be assigned or otherwise transferred by either party with the written consent of the
other party. 
  
 7. Should any provision of this Agreement be
determined to be unenforceable or prohibited by any applicable law, such provision shall be ineffective to the extent, and only to the extent, of such unenforceability or prohibition without invalidating the balance of such provision or any other
provision of this Agreement, and any such unenforceability or prohibition in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent any provision of this Agreement is unenforceable or
prohibited under applicable law: (a) in order not to frustrate the intent of the parties, this Agreement shall be considered amended to the least degree possible in order to make this Agreement effective; and (b) the parties shall negotiate in good
faith concerning an amendment to this Agreement that will achieve, to the extent possible consistent with applicable law, the intended effect of the invalid or unenforceable provision. 
  
 8. On the date the Shelton Note and Peterson Note (as those terms arc defined in the Purchase Option Agreement) are paid in
full, and in consideration of the benefits to be derived by its members under the BUI Agreements, Ion shall transfer, convey, and assign to MyACD all of its right, title, and interest in and to the Intellectual Property. 
  
 9. This Agreement and all licenses, restrictions, and assignments contained
herein shall automatically terminate upon (i) the date the Cooperation and Management Agreement is terminated, (ii) the date BUI fails to exercise its option to purchase the MyACD capital stock in accordance with the Purchase Option Agreement; (iii)
the date an Event of Default (as that term is defined in Section 2 of the Shelton Note attached as Exhibit A to the Purchase Option Agreement) occurs under the Shelton Note; (iv) the date an Event of Default (as that term is defined in Section 2 of
the Peterson Note attached as Exhibit D to the Purchase Option Agreement) occurs tinder the Peterson Note; (v) a failure by MyACD to observe or perform any provision contained in (his License and Transfer Agreement if not cured within thirty (30)
days after written notice thereof has been given to MyACD by Ion; or (vi) MyACD shall commence a voluntary case or becomes subject to an involuntary case or other proceeding seeking: liquidation, reorganization or other relief with respect to itself
or its debts under any bankruptcy, insolvency or other similar law now or hereafter in affect, or the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property; consents to any
such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it; becomes subject to an order for relief under the bankruptcy laws as now or hereafter in effect; makes a
general assignment for the benefit of creditors; or shall take any corporate action to authorize any of the foregoing. 
  

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 10. This Agreement constitute the entire agreement of the parties with respect to the subject matter
hereof and supersedes all prior written and oral agreements and understandings with respect to such subject matter. The parties agree and acknowledge that BUI is an intended third party beneficiary of this Agreement and is entitled to enforce the
terms of this Agreement as though it is an original party hereto. Neither this Agreement nor any of the terms hereof may be amended, supplemented, waived or modified orally, but only by an instrument in writing signed by the party against which the
enforcement of the amendment, supplement, waiver or modification is sought and approved in writing by BUI. No failure or delay by any party hereto in exercising any power or right under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. 
  
 11. This Agreement shall inure to the benefit of and be binding upon the
patties hereto and their respective assignees and/or successors in interest. 
  
 12. In the event either patty (or BUI) institutes any action or proceeding to enforce tiny terms or provisions of this Agreement or to secure any relief resulting from an alleged breach of or default under this
Agreement, the prevailing party in such action or proceeding shall be entitled to recover from the non-prevailing party all of its costs and expenses incurred in connection therewith, including reasonable attorneys’ and experts’ fees.

  
 13. This Agreement may be executed by the parties in separate
counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same agreement. 
  
 14. This Agreement shall be governed by the laws of the state of Utah. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first above set forth. 
  

			
	The Ion Group, L.C.
		
	 By:
	 	 /s/ Michael L. Shelton

	 	 	 Michael L. Shelton, Member

	
	MyACD Inc.
		
	 By:
	 	 /s/ Michael L. Shelton

	 	 	 Michael L. Shelton, President

  

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