Document:

SECURED
      PROMISSORY NOTE

     

    
      	
              $500,000

            	
              March
                __,
                2008         

            
	
               
                

            	
              Salt
                Lake City, Utah

            

    

    

    FOR
      VALUE
      RECEIVED, the undersigned, Brighton Partners, L.L.C., a Utah limited liability
      company and Uinta Equity Partners, L.L.C., a Utah limited liability company
      (together “Makers”), jointly and severally promise to pay to the order of ZAGG,
      Inc., a Utah corporation (“Holder”), at such place as Holder may designate to
      Makers in writing from time to time, the principal sum of up to FIVE HUNDRED
      THOUSAND DOLLARS ($500,000), together with interest thereon from the date of
      disbursement until paid and other amounts as provided herein.

    

    1. Interest
      and Payments.

     

    1.1 Interest
      Rate.
      Makers
      promise to pay interest from and including February 28, 2008 through and
      including the Maturity Date, as defined below, on the unpaid principal balance
      of this Note at the term rate of ten percent (10.00%)(the “Note Rate”). The
      Maturity Date for purposes of this Note shall be May 31, 2008. The time period
      beginning on the date first set forth above and ending on the Maturity Date
      is
      referred to herein as the term hereof. Holder shall fund this Note by delivering
      to Makers $200,000 upon execution of this Note and up to an additional $300,000
      upon on the delivery by Makers to Holder of documentary evidence of rights
      to be
      acquired by Maker Brighton Partners in connection with American Gladiators
      Superhero series currently in development with Brighton Partners and POW!
      Entertainment (Stan Lee).

     

    1.2 Origination
      Fee.
      Makers
      shall pay an origination fee of 3% which shall be due at the Maturity
      Date.

     

    1.3 Place
      and Time of Payment.
      All
      payments specified herein shall be deemed made when actually received by Holder.
      All payments shall be made to Holder ZAGG, Inc., 3855 South 500 West, Suite
      J,
      Salt Lake City, UT 84115 and shall be made without offset and without prior
      notice or demand. 

     

    1.4 Form
      and Application of Payments.
      Payments
      shall be in lawful money of the United States of America and when received
      by
      Holder shall be applied first to cost or fees incurred in the collection of
      this
      note, second to origination fee, third to accrued interest, fourth as a
      principal amount. 

     

    1.5 Prepayment.
      This
      Note may be prepaid in whole or in part at any time or from time to time without
      premium or penalty.

     

    2. Default.
      Time
      is
      of the essence of this Note. A default shall occur if: 

     

    2.1 Failure
      to Make Payments.
      Makers
      fail to make payment under this Note on the date due. 

     

    2.2 Other
      Failures.
      Makers
      fail to perform any other obligation contained in this Note or breaches any
      covenant contained in any instrument securing payment hereof within ten days
      after notice from Holder specifying the nature of the default. 

     

    
      
         

      

      
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          1 of 7

        
          

        

      

      
         

      

    

     

    3. Rights
      and Remedies of Holder.
      Upon
      the occurrence of an event of default by Makers under this Note, then, in
      addition to all other rights and remedies at law or in equity, Holder may
      exercise any one or more of the following rights and remedies:

     

    a.
      Accelerate the time for payment of all amounts payable under this Note by
      written notice thereof to Makers, whereupon all such amounts shall be
      immediately due and payable;

     

    b.
      Pursue
      and enforce all of the rights and remedies provided to a secured party with
      respect to the Collateral under the Uniform Commercial Code; and

     

    c.
      Pursue
      any other rights or remedies available to Holder at law or in
      equity.

     

    4. Governing
      Law, Severability.

     

    4.1 Governing
      Law.
      This
      Note has been executed under and shall be construed and enforced in accordance
      with the laws of the State of Utah and any the parties consent to jurisdiction
      and venue in the State of Utah Third District Court in and for Salt Lake
      County.

     

    4.2 Severability.
      If any
      provision of this Note is found by a court of competent jurisdiction to be
      invalid or unenforceable as written, then the parties intend and desire that
      (a)
      such provision be enforceable to the full extent permitted by law and (b) the
      invalidity of unenforceability of such provision shall not affect the validity
      and enforceability of the remainder of this Note.

     

    5. Binding
      Agreement.
      This
      Note shall be binding upon the successors and assigns of Makers.

     

    6. Grant
      of Security Interest. As
      collateral security for the prompt, complete, and timely satisfaction of all
      present and future indebtedness, liabilities, duties, and obligations of Makers
      to Holder evidenced by or arising under this Note, and including, without
      limitation, all principal, interest, and fees payable under this Note, any
      future advances added to the principal amount due hereunder, and all attorneys’
fees, costs and expenses incurred by Maker in the collection or enforcement
      of
      the same (collectively, the “Obligations”),
      Makers hereby pledge, assign and grant to Holder a continuing security interest
      and lien in all assets of the Makers, including, but not limited to, all of
      Makers’ right, title and interest in and to the property, whether now owned or
      hereafter acquired by Makers and whether now existing or hereafter coming into
      existence or acquired, described on Exhibit “A” attached hereto and incorporated
      herein by this reference (collectively, the “Collateral”).
      As
      applicable, the terms of this Note with respect to Maker’s granting of a
      security interest in the Collateral to Holder shall be deemed to be a security
      agreement under applicable provisions of the Uniform Commercial Code
      (“UCC”),
      with
      Makers as the debtors and Holder as the secured party. 

     

    7. Perfection. Upon
      the
      execution and delivery of this Note, Makers authorize Holder to file such
      financing statements and other documents in such offices as shall be necessary
      or as Holder may reasonably deem necessary to perfect and establish the priority
      of the liens granted by this Note. Maker agrees, upon Holder’s request, to take
      all such actions as shall be necessary or as Holder may reasonably request
      to
      perfect and establish the priority of the liens granted by this Note.

     

    8. Representations
      and Warranties of Makers.
      Makers
      hereby represent and warrant the following to Holder:

     

    a.
      Makers
      warrant and represent to Holder that the proceeds of the loan evidenced hereby
      will be used solely in connection with financing and development of Maker
      Brighton Partners L.L.C.’s American Gladiators project described above and will
      not be used for personal, consumer, residential or household
      purposes.

     

    
      
         

      

      
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          2 of 7

        
          

        

      

      
         

      

    

     

    b.
      Makers
      and those executing this Note on their behalf have the full right, power, and
      authority to execute, deliver and perform the Obligations under this Note,
      which
      are not prohibited or restricted under the Makers’ articles of organization or
      other governing documents. This Note has been duly executed and delivered by
      authorized officers of Makers and constitutes a valid and legally binding
      obligation of Makers enforceable in accordance with its terms.

     

    c.
      The
      execution of this Note and Makers’ compliance with the terms, conditions and
      provisions hereof does not conflict with or violate any provision of any
      agreement, contract, lease, deed of trust, indenture, or instrument to which
      Maker are a party or by which Makers are bound, or constitute a default
      thereunder or result in the imposition of any lien, charge, encumbrance, claim
      or security interest of any nature whatsoever upon any of the
      Collateral.

     

    d.
      The
      security interest granted hereby in and to the Collateral constitutes a present,
      valid, binding and enforceable security interest as collateral security for
      the
      Obligations, and, except as to leased equipment or purchase-money encumbrances
      existing as of the date of this Note as expressly disclosed to Holder in
      writing, such interests, upon perfection, will be senior and prior to any liens,
      encumbrances, charges, title defects, interests and rights of any others with
      respect to such Collateral.

     

    9.
       Covenants
      of Makers.
      For so
      long as any Obligations remain outstanding, Makers shall not sell, assign or
      transfer any of the Collateral, or any part thereof or interest therein.

     

    10.
       Use
      of
      Collateral. For
      so
      long as no event of default shall have occurred and be continuing under this
      Note, Makers shall be entitled to use and possess the Collateral and to exercise
      its rights, title and interest in all contracts, agreements, and licenses
      subject to the rights, remedies, powers and privileges of Holder under this
      Note
      and to such use, possession or exercise not otherwise constituting an event
      of
      default. Notwithstanding anything herein to the contrary, Makers shall remain
      liable to perform its duties and obligations under the contracts and agreements
      included in the Collateral in accordance with their respective terms to the
      same
      extent as if this Note had not been executed and delivered; the exercise by
      Holder of any right, remedy, power or privilege in respect of this Note shall
      not release the Makers from any of their duties and obligations under such
      contracts and agreements; and Holder shall have no duty, obligation or liability
      under such contracts and agreements included in the Collateral by reason of
      this
      Note, nor shall Holder be obligated to perform any of the duties or obligations
      of Makers under any such contract or agreement or to take any action to collect
      or enforce any claim (for payment) under any such contract or agreement.

     

    11.
       Costs
      of Collection. Should
      the indebtedness represented by this Note, or any part hereof, be collected
      at
      law, in equity, or in any bankruptcy, receivership or other court proceeding,
      or
      this Note be placed in the hands of any attorney for collection after default,
      Makers agree to pay, in addition to the principal and interest due hereon,
      all
      reasonable attorneys’ fees, plus all other costs and expenses of collection and
      enforcement, including any fees incurred in connection with such proceedings
      or
      collection of the Note and/or enforcement of Holder’s rights with respect to the
      administration, supervision, preservation or protection of, or realization
      upon,
      any Collateral securing payment hereof.

     

    12. Miscellaneous.

     

    a.
      Any
      failure or delay by Holder to insist upon the strict performance of any term,
      condition, covenant or agreement of this Note, or to exercise any right, power
      or remedy hereunder shall not constitute a waiver of any such term, condition,
      covenant, agreement, right, power or remedy.

     

    b.
      This
      Note may not be modified or amended in any respect except in a writing executed
      by the party to be charged. 

     

    
      
         

      

      
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    c.
      This
      Note and the other documents related hereto have been reviewed and negotiated
      by
      Holder and any other parties hereto with the benefit of or the opportunity
      to
      seek the assistance of legal counsel and shall not be construed against any
      party by presumption. The titles and captions contained in this Note are
      inserted for convenience and shall not be deemed to define, limit, extend or
      modify any provision of this Note.

     

    d.
      Each
      of the parties hereby agrees, represents and warrants that it has had advice
      of
      independent counsel of its own choosing in negotiations for and the preparation
      of this Note, that it has read the provisions of this Note, and that it is
      fully
      aware of its contents and legal effect. 

     

    e.
      Each
      of the individual Makers shall be jointly and severally liable for the
      performance of each of the obligations of Makers to Holder hereunder. Nothing
      contained in this Note is intended to nor shall be deemed to limit the joint
      and
      several obligations or liability of Makers for the payment of the indebtedness
      evidenced by this Note or for any other sums due as a result of any Event of
      Default under this Note.

     

    [signature
      page follows]

     

    
      
         

      

      
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    This
      Note
      has been executed as of February 27, 2008.

     

    BRIGHTON
      PARTNERS, L.L.C.

    

     

    By:
      _________________________________

    R.
      Cord
      Beatty, member and manager

    

    By:
      _________________________________

    Roger
      Lund, member and manager

    

    

    UINTA
      EQUITY PARTNERS, L.L.C.

    

    By:
      _________________________________

    R.
      Cord
      Beatty, member and manager

     

    
      
         

      

      
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    Exhibit
      “A”

     

    SECURED
      PROMISSORY NOTE

     

    NOTE
      COLLATERAL

     

    Certificates
      evidencing the following collateral shall be delivered as soon as reasonably
      practicable to the Holder of this Note:

     

    All
      assets in which either or both of the Makers has any right, title, or interest,
      regardless of the manner in which such items are formally held or titled,
      whether now owned or hereafter acquired by Makers and whether now existing
      or
      hereafter coming into existence or acquired, including, but not limited to,
      each
      and all of the following , all as defined in the applicable Uniform Commercial
      Code - Secured Transactions (Utah Code §§ 70A-9a-101 et. seq.) as of the date of
      the Note, and as the same may be amended hereafter:

     

    (1)
      Accounts

     

    (2)
      Cash
      proceeds

     

    (3)
      Chattel paper

     

    (4)
      Commercial tort claims

     

    (5)
      Commodity accounts and commodity contracts

     

    (6)
      Deposit accounts

     

    (7)
      Documents

     

    (8)
      Electronic chattel paper

     

    (9)
      Equipment

     

    (10)
      General intangibles, including, but not limited to, any and all contractual
      rights related in any way to Maker Brighton Partners, L.L.C.’s joint venture
      agreement(s) or other agreement(s) with Pow! Entertainment, Rainmaker
      Entertainment, MGM, Flor-Jon Films, and/or any related entity or person, as
      well
      as any right, title, and interest Makers may now have or may hereafter acquire
      in and to any copyright, copyright license, or other intellectual property
      relating to the American Gladiator super hero animated series, and/or related
      comic books, clothing, video games, or other works based upon the American
      Gladiators concept. Makers shall deliver to Holder copies of all such materials
      which have been or may hereafter be delivered to the U.S. Copyright Office
      for
      registration and all such materials in which a copyright is
      claimed,

     

    (11)
      Goods

     

    (12)
      Instruments

     

    (13)
      Inventory

     

    
      
         

      

      
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    (14)
      Investment property, including, but not limited to, 500,000 shares of common
      stock in Bio-Path Holdings, Inc., a Utah corporation, now owned by Maker Uinta
      Equity Partners, L.L.C. Within five (5) days of the parties’ execution of this
      agreement, Maker Uinta Equity Partners, L.L.C. shall deliver to Holder stock
      certificates representing all 500,000 shares of common stock in Bio-Path
      Holdings, Inc. owned by Uinta Equity Partners, L.L.C. Such stock certificates
      shall be held in the possession of Holder until such time as this Note is paid
      in full. At all times from the date hereof until payment of this Note in full,
      all such stock certificates shall be deemed to be located in the State of Utah
      within the meaning of Utah Code §70A-9a-305(1)(a). In the event such securities
      become uncertificated securities or are held by a securities intermediary,
      the
      applicable law of the issuer’s jurisdiction and/or the intermediary’s
      jurisdiction, as applicable, shall be deemed to be the State of Utah for all
      purposes within the meaning of Utah Code §70A-9a-305(1)(b) and/or
      (c).

     

    (15)
      Letter-of-credit rights

     

    (16)
      Noncash proceeds

     

    (17)
      Payment intangibles

     

    (18)
      Proceeds

     

    (19)
      Promissory notes

     

    (20)
      Records

     

    (21)
      Software

     

    (22)
      Supporting obligations

     

    (23)
      Tangible chattel paper; and

     

    (24)
      All
      other certificated securities, contracts for sale, leases, lease agreements,
      lease contracts, leasehold interests, letters of credit, negotiable instruments,
      notes, proceeds of letters of credit, securities, security certificates,
      security entitlements, and uncertificated securities.

     

    
      
         

      

      
        Page
          7 of 7SECURITY
      AGREEMENT

    

    For
      good
      and valuable consideration, Roger Lund and Cord Beatty (together, “Pledgors”),
      hereby make and deliver this Security Agreement (this “Agreement”)
      in
      favor of ZAGG,
      Inc. a
      Utah
      corporation (“Pledgee”),
      and
      hereby agree as follows:

    

    1. Grant
      of Security Interest.
      As
      collateral security for the prompt, complete, and timely satisfaction of all
      present and future indebtedness, liabilities, duties, and obligations of
      Brighton Partners, LLC and/or Uinta Equity Partners, LLC to Pledgee as evidenced
      by or arising under that certain Secured Promissory Note dated March __, 2008,
      and including, without limitation, all principal and interest payable under
      such
      Note, any future advances added to the principal amount due thereunder, and
      all
      attorneys’ fees, costs and expenses incurred by Pledgee in the collection or
      enforcement of the same (collectively, the “Obligations”),
      Pledgors hereby pledge, assign and grant to Pledgee a continuing security
      interest and lien in all of Pledgors’ right, title and interest in and to one
      hundred percent (100%) of Pledgors’ membership interests in Brighton Partners,
      LLC, a Utah limited liability company, which are now or shall hereafter be
      issued and outstanding in the name or names of Pledgors (the “Collateral”). The
      terms of this Agreement with respect to Pledgors’ granting of a security
      interest in the Collateral to Pledgee shall be deemed to be a security agreement
      under applicable provisions of the Uniform Commercial Code (“UCC”), with Pledgee
      as the secured party. 

    

    2. Perfection.
      Upon
      the
      execution and delivery of this Agreement, Pledgors authorize Pledgee to file
      such financing statements and other documents in such offices as shall be
      necessary or as Pledgee may reasonably deem necessary to perfect and establish
      the priority of the liens granted by this Agreement. Pledgors agree, upon
      Pledgee’s request, to take all such actions as shall be necessary or as Pledgee
      may reasonably request to perfect and establish the priority of the liens
      granted by this Agreement. 

    

    3. Covenant
      of Pledgors.
      For so
      long as any Obligations remain outstanding, Pledgors shall not sell, assign,
      encumber, pledge, hypothecate, transfer or otherwise dispose of any of the
      Collateral. 

    

    4. Rights
      and Remedies of Pledgee.
      Upon the
      occurrence of an event of default under any of the Obligations, then, in
      addition to all other rights and remedies at law or in equity, Pledgee may
      exercise any one or more of the following rights and remedies:

    

    a. Receive
      any dividends or other payments payable to the owners of the Collateral and
      exercise all voting, consensual, and other rights pertaining thereto.

    

    b. Pursue
      and enforce all of the rights and remedies provided to a secured party with
      respect to the Collateral under the Uniform Commercial Code; and

     

    
      
        
          Page 1
            of 3 

        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    c. Pursue
      any other rights or remedies available to Pledgee at law or in
      equity.

    5. Obligations
      Without Recourse To Pledgors.
      Pledgors shall not be personally liable for the payment of any principal,
      interest or other sum due under the Obligations or for any deficiency judgment
      that Pledgee may obtain following the foreclosure of the security interest
      granted hereby, and Pledgee’s sole recourse against Pledgors for any default
      under the Obligations shall be limited to the Collateral.

    

    6. Representation
      of Counsel.
      Pledgors
      acknowledge that they have consulted with or have had the opportunity to consult
      with their legal counsel prior to executing this Agreement. This Agreement
      has
      been freely negotiated by Pledgors and Pledgee and any rule of construction
      to
      the effect that any ambiguities are to be resolved against the drafting party
      shall not be employed in the interpretation of this Agreement.

    

    7. Choice
      of Laws.
      This
      Note shall be constructed and construed in accordance with the internal
      substantive laws of the State of Utah, without regard to the choice of law
      principles of said State. 

    

    8.
       Miscellaneous.

    

    a.
      This
      Agreement shall be binding upon Pledgors and shall inure to the benefit of
      Pledgee and its successors, assigns, heirs, and legal
      representatives.

    

    b.
      Any
      failure or delay by Pledgee to insist upon the strict performance of any term,
      condition, covenant or agreement of this Agreement, or to exercise any right,
      power or remedy hereunder shall not constitute a waiver of any such term,
      condition, covenant, agreement, right, power or remedy.

    

    c.
      Any
      provision of this Agreement that is unenforceable shall be severed from this
      Agreement to the extent reasonably possible without invalidating or affecting
      the intent, validity or enforceability of any other provision of this
      Agreement.

    

    d.
      In the
      event of any action at law or in equity to enforce this Agreement, the
      prevailing party shall be entitled to recover its reasonable attorneys’ fees and
      costs from the unsuccessful party.

    

    e.
      This
      Agreement may not be modified or amended in any respect except in a writing
      executed by the party to be charged. 

     

    
      
        
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    IN
      WITNESS WHEREOF,
      this
      Agreement has been executed effective February 27, 2008. 

    

    “Pledgors”:

    

    
      	
              ROGER
                LUND

            
	 
	 
	 
	
              CORD
                BEATTY

            
	 
	 

    

     

    
      
        
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            3 of 3

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