Document:

EXHIBIT 10.1

                  Second Amendment to Stock Purchase Agreement

         This Second Amendment to Stock Purchase Agreement is entered into as of
December 8, 2006 (the "Effective Date") by and among Optimal Golf Solutions,
Inc. a Texas corporation (the "Company"); Darryl Cornish ("Cornish") and Charles
Huston ("Huston") (collectively, Huston and Cornish are referred to as
"Sellers"), and GPS Industries, Inc. a Nevada corporation (the "Purchaser") with
reference to the following:

         A. Pursuant to the Stock Purchase Agreement dated as of November 19,
2004 (the "Purchase Agreement") among the parties hereto, Sellers sold to
Purchaser all of the capital stock of the Company for cash and stock, as more
fully described therein.

         B. Certain of the payment terms under the Purchase Agreement were
modified pursuant to the First Amendment to Stock Purchase Agreement dated as of
May 28, 2005 (the "First Amendment"). Defined Terms not defined herein shall
have the meanings ascribed to them in the Purchase Agreement, as amended by the
First Amendment.

         C. Issues have arisen with respect to the interpretation of the certain
provisions of the Purchase Agreement and the parties' compliance therewith, and
the parties wish to clarify such provisions and set forth the obligations of the
parties as of the date of this Amendment.

         NOW THEREFORE, it is agreed as follows:

                  1. Third Cash Payment.

                           1.1      Payment.  The parties agree that the Third
Cash Payment is $1,648,725 which shall be paid as follows:

                                    (a) $300,000 to be paid on December 7, 2006;

                                    (b) interest to be paid concurrently
with 1.1(a) and 1.1(c) on the Third Cash Payment of $1,648,725 during the period
from August 22, 2006 until paid at New York prime plus 1%;

                                    (c) the difference between $1,348,725 and
the net proceeds received by Sellers from the sale of the First Stock Payment
from August 22, 2006 through and including January 15, 2007 (the "Remaining
Balance"), to be paid by the Purchaser on or before three business days from
January 15, 2007.

                           1.2      Sale of Shares.  From the Effective Date,
Sellers shall sell at least 60% of the maximum number of shares that Sellers
shall be permitted to sell under the terms of the Leakage Agreement unless
advised to the contrary by the Purchaser because of compliance with applicable
securities laws.

                  2. Second Stock Payment.

                           2.1      Second Stock Payment.  The parties agree
that the Second Stock Payment is 30,392,002 shares.

                           2.2      Issuance of Shares.  Upon execution of this
Agreement, the Purchaser shall issue instructions to its transfer agent to issue
and deliver to the Sellers (as directed by Sellers) the Second Stock Payment.
The parties agree that the Second Stock Payment shall, for purposes of this
Agreement and Rule 144, be deemed issued on August 22, 2006. The Purchaser shall
use its best efforts consistent with its obligations under the securities laws
(a) to keep the registration statement covering such shares effective during the
Second Liquidation Period, or (b) if required, to file a post effective
amendment thereto and seek to have such amendment declared effective as soon as
possible.

                           2.3       Sale of Second Stock Payment.  Provided
that the resale of the shares constituting the Second Stock Payment are then
covered by an effective registration statement, the Second Liquidation Period
shall commence on the date of the payment of the Remaining Balance, and Sellers
shall sell at least 60% of the amount permitted under the Leakage Agreement
unless otherwise advised by the Purchaser because of securities law issues. In
the event that by the June 15, 2007 there is no effective registration statement
covering the resale of the Second Stock Payment, then at any time during the
continuance of such event, Sellers, upon 30 days' notice, may elect to demand
and receive the Fourth Cash Payment and, upon such payment, Sellers shall return
any unsold shares. If the failure to so register has not been cured by the
expiration of the notice period, the Purchaser shall pay the Fourth Cash Payment
to Sellers by such expiration date. The Second Liquidation Period shall extend
for 180 trading days from the commencement of the Period with such Period tolled
for any period in which a registration statement is not effective covering the
Second Stock Payment.

                  3. Satisfaction of Obligations. If prior to June 15, 2007 the
Purchaser's Common Stock is listed on the American Stock Exchange or the NASDAQ
Stock Market, the Purchaser shall pay to Sellers $400,000 or, at the Purchaser's
option, issue to Sellers three-year warrants to purchase 4,000,000 shares of
Purchaser's Common Stock at an exercise price per share of $.12 (subject to
customary adjustments for stock splits, recapitalizations, reorganizations,
etc.). Upon such payment or issuance, all obligations of the parties under the
Purchase Agreement, as amended (except the obligations of the Purchaser to keep
the registration statement effective and the obligations of the Sellers under
the Leakage Agreement as modified herein) shall be satisfied and all security
and covenants with respect to the Purchaser's obligations to Sellers shall be
released/extinguished. If such listing does not occur by such date, the
Purchaser's obligations shall continue. Purchaser shall use commercially
reasonable efforts to have its common stock listed on AMEX or NASDAQ as soon as
possible.

                  4. Effect of Purchase Agreement. Except as expressly set forth
herein, the terms of the Purchase Agreement, as amended, shall remain in full
force and effect and all notices of default are hereby withdrawn.

                  5. Amendment of License Agreement. The U.S. License Agreement
appearing as Exhibit C to the Stock Purchase Agreement shall be amended in
substantially the form of such exhibit.

         IN WITNESS WHEREOF, the parties have executed this Amendment as of
December 8, 2006.

                                                     GPS INDUSTRIES, INC.

                                             By:/s/ Robert S. Silzer
                                                ----------------------------
                                                Robert S. Silzer, Sr., President

                                             OPTIMAL GOLF SOLUTIONS, INC.

                                             By:

                                             Charles Huston

                                             Darryl CornishDated: December 13, 2006

      NEITHER  THIS  DEBENTURE  NOR  THE  SECURITIES  INTO  WHICH  THIS
      DEBENTURE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES
      AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE
      IN  RELIANCE  UPON  AN  EXEMPTION  FROM  REGISTRATION  UNDER  THE
      SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES  ACT"),  AND,
      ACCORDINGLY,  MAY NOT BE OFFERED OR SOLD  EXCEPT  PURSUANT  TO AN
      EFFECTIVE  REGISTRATION  STATEMENT  UNDER THE  SECURITIES  ACT OR
      PURSUANT TO AN AVAILABLE  EXEMPTION FROM, OR IN A TRANSACTION NOT
      SUBJECT TO, THE  REGISTRATION  REQUIREMENTS OF THE SECURITIES ACT
      AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

No. KNOS-3-1                                                         $1,645,476

                       KRONOS ADVANCED TECHNOLOGIES, INC.

                              Convertible Debenture

                               Due: June 13, 2007

     This Convertible  Debenture (the  "Debenture") is issued by KRONOS ADVANCED
TECHNOLOGIES,  INC., a Nevada  corporation (the  "Company"),  to CORNELL CAPITAL
PARTNERS,  LP (the  "Holder"),  pursuant to that certain  Letter  Agreement (the
"Letter Agreement") dated December 13, 2008.

     WHEREAS, the Company has issued to the Holder, and the Holder has purchased
from the  Company a  Promissory  Note on June 22,  2005 for a purchase  price of
$2,000,000 (the "Initial Securities"). The Holder paid the entire purchase price
for the Initial Securities on June 22, 2005.

     As of the date hereof,  the  outstanding  principal  balance on the Initial
Securities  equals $1,515,000 plus accrued and unpaid interest of $130,476 for a
total of $1,645,476.

     This  Debenture  shall be  acquired  by the Holder  from the  Company for a
consideration  consisting  solely  of the  Initial  Securities  surrendered  for
conversion  and shall be deemed  to have been  acquired  at the same time as the
respective date on which the Holder acquired each of the Initial Securities.

     FOR VALUE RECEIVED, the Company hereby promises to pay to the Holder or its
successors  and assigns the  principal sum of One Million Six Hundred Forty Five
Thousand Four Hundred Seventy Six Dollars  $1,645,476  together with accrued but
unpaid  interest on or before June 11, 2007 (the "Maturity  Date") in accordance
with the following terms:

         Section 1.        General Terms

     Interest. Interest shall accrue on the outstanding principal balance hereof
at an annual rate equal to twelve percent (12%). Interest shall be calculated on
the basis of a 365-day year and the actual number of days elapsed, to the extent
permitted by applicable  law.  Interest  hereunder shall be paid on the Maturity
Date (or sooner as provided  herein) to the Holder or its assignee in whose name
this   Debenture  is  registered  on  the  records  of  the  Company   regarding
registration  and  transfers of Debentures in cash or in Common Stock (valued at
the Closing Bid Price on the Trading Day immediately  prior to the date paid) at
the option of the Company.

         Section 2.        Events of Default.

     (a) An "Event  of  Default",  wherever  used  herein,  means any one of the
following  events  (whatever  the reason and  whether it shall be  voluntary  or
involuntary or effected by operation of law or pursuant to any judgment,  decree
or order of any court, or any order, rule or regulation of any administrative or
governmental body):

<PAGE>

     (i) Any default in the payment of the  principal  of,  interest on or other
charges in respect of this Debenture, free of any claim of subordination, as and
when the same shall become due and payable  whether upon an Optional  Redemption
(as defined in Section 3(a)), the Maturity Date, by acceleration, or otherwise;

     (ii) The Company or any subsidiary of the Company shall commence,  or there
shall be commenced  against the Company or any  subsidiary  of the Company under
any  applicable  bankruptcy or insolvency  laws as now or hereafter in effect or
any successor thereto, or the Company or any subsidiary of the Company commences
any other proceeding under any reorganization,  arrangement, adjustment of debt,
relief of debtors, dissolution,  insolvency or liquidation or similar law of any
jurisdiction  whether now or hereafter in effect  relating to the Company or any
subsidiary  of the  Company or there is  commenced  against  the  Company or any
subsidiary of the Company any such  bankruptcy,  insolvency or other  proceeding
which  remains  undismissed  for a period  of 61  days;  or the  Company  or any
subsidiary of the Company is adjudicated  insolvent or bankrupt; or any order of
relief or other order  approving any such case or proceeding is entered;  or the
Company  or any  subsidiary  of  the  Company  suffers  any  appointment  of any
custodian,  private  or  court  appointed  receiver  or the  like  for it or any
substantial part of its property which continues  undischarged or unstayed for a
period of sixty one (61) days;  or the Company or any  subsidiary of the Company
makes a general assignment for the benefit of creditors;  or the Company,  shall
state that it is unable to pay,  its debts  generally as they become due; or the
Company or any  subsidiary  of the Company shall call a meeting of its creditors
with a view to  arranging a  composition,  adjustment  or  restructuring  of its
debts;  or the  Company or any  subsidiary  of the  Company  shall by any act or
failure to act expressly indicate its consent to, approval of or acquiescence in
any of the  foregoing;  or any corporate or other action is taken by the Company
or any  subsidiary  of the  Company  for the  purpose  of  effecting  any of the
foregoing;

     (iii) The Common  Stock shall cease to be quoted for trading or listing for
trading on any of (a) the American Stock Exchange,  (b) New York Stock Exchange,
(c) the Nasdaq National  Market,  (d) the Nasdaq Capital Market,  or (e) the OTC
Bulletin Board ("OTC") (each, a "Primary  Market") and shall not again be quoted
or listed for trading on any Primary Market within five (5) Trading Days of such
delisting;

     (iv) The Company or any  subsidiary  of the Company shall be a party to any
Change of Control Transaction (as defined in Section 6);

     (v) The  Company  shall  fail  for  any  reason  to  deliver  Common  Stock
certificates to a Holder prior to the fifth (5th) Trading Day after a Conversion
Date,  or the Company shall  provide  notice to the Holder,  including by way of
public  announcement,  at any time, of its intention not to comply with requests
for conversions in accordance with the terms hereof;

     (vi) The  Company  shall fail for any reason to deliver the payment in cash
pursuant to a Buy-In (as defined  herein)  within three (3) days after notice is
claimed delivered hereunder;

     (vii) The  Company  shall fail to observe  or perform  any other  covenant,
agreement or warranty contained in, or otherwise commit any breach or default of
any  provision of this  Debenture  (except as may be covered by Section  2(a)(i)
through 2(a)(ix)  hereof) or any Transaction  Document (as defined in Section 6)
which is not cured with in the time prescribed;

     (b) During the time that any portion of this Debenture is  outstanding,  if
any Event of Default has occurred,  the full principal amount of this Debenture,
together with interest and other amounts owing in respect  thereof,  to the date
of  acceleration  shall become at the  Holder's  election,  immediately  due and
payable in cash,  provided  however,  the Holder may request  (but shall have no
obligation  to request)  payment of such amounts in Common Stock of the Company.
Furthermore,  in addition to any other remedies, the Holder shall have the right
(but not the  obligation)  to convert  this  Debenture  at any time after (x) an
Event  of  Default  or (y)  the  Maturity  Date  at the  Conversion  Price  then
in-effect.  The  Holder  need not  provide  and the  Company  hereby  waives any
presentment,  demand,  protest or other  notice of any kind,  and the Holder may
immediately  and without  expiration of any grace period  enforce any and all of
its rights and remedies  hereunder and all other remedies  available to it under
applicable law. Such  declaration may be rescinded and annulled by Holder at any
time prior to payment  hereunder.  No such  rescission or annulment shall affect
any subsequent Event of Default or impair any right consequent  thereon.  Except
with respect to the limitation set forth in Section 4(b)(i) hereof upon an Event
of  Default,  notwithstanding  any  other  provision  of this  Debenture  or any
Transaction  Document,  the Holder  shall have no  obligation  to comply with or
adhere to any  limitations,  if any, on the  conversion of this Debenture or the
sale of the Underlying Shares.

<PAGE>

         Section 3.        Redemptions.

     (a)  Company's  Optional Cash  Redemption.  The Company at its option shall
have the right to  redeem  ("Optional  Redemption")  a  portion  or all  amounts
outstanding  under this  Debenture  prior to the Maturity Date by providing five
(5) business days (the  "Redemption  Notice Period") prior written notice to the
Holder of its intention to make a redemption (the  "Redemption  Notice") setting
forth the  amount of  principal  it  desires  to  redeem.  After  receipt of the
Redemption Notice the Holder shall have through the end of the Redemption Notice
Period to elect to convert a portion of this Debenture,  up to and not exceeding
an amount of shares of Common Stock that after giving effect to such conversion,
the Holder,  together with any affiliate thereof,  would beneficially own (as in
accordance  with Section  13(d) of the  Exchange  Act and the rules  promulgated
thereunder)   4.99%  of  the  number  of  shares  of  Common  Stock  outstanding
immediately after giving effect to such conversion.  On the sixth (6th) business
day after the Redemption  Notice  ("Redemption  Payment Due Date"),  the Company
shall deliver to the Holder the redemption  amount with respect to the principal
amount redeemed after giving effect to conversions  effected during the five (5)
business day period. It shall be considered an event of default hereunder if the
Company does not timely make such redemption  payment on the Redemption  Payment
Due Date and the conversion limitation set forth herein shall no longer apply.

         Section 4.        Conversion.

     (a) Conversion at Option of Holder.

     (i) This Debenture shall be convertible  into shares of Common Stock at the
option  of the  Holder,  in whole or in part at any time and from  time to time,
after the  Original  Issue  Date (as  defined  in  Section  6)  (subject  to the
limitations  on  conversion  set forth in Section  4(b)  hereof).  The number of
shares of Common Stock issuable upon a conversion  hereunder equals the quotient
obtained  by  dividing  (x)  the  outstanding  amount  of this  Debenture  to be
converted  by (y) the  Conversion  Price (as  defined in Section  4(c)(i)).  The
Company shall deliver Common Stock certificates to the Holder prior to the Fifth
(5th) Trading Day after a Conversion Date.

     (ii)  Notwithstanding  anything to the contrary contained herein, if on any
Conversion  Date:  (1)  the  number  of  shares  of  Common  Stock  at the  time
authorized, unissued and unreserved for all purposes, or held as treasury stock,
is  insufficient  to pay  principal  and interest  hereunder in shares of Common
Stock; (2) the Common Stock is not listed or quoted for trading on the a Primary
Market;  or (3) the Company has failed to timely satisfy a conversion;  then, at
the option of the Holder,  the Company,  in lieu of delivering  shares of Common
Stock pursuant to Section 4(a)(i), shall deliver,  within three (3) Trading Days
of each  applicable  Conversion  Date, an amount in cash equal to the product of
the  outstanding  principal  amount to be  converted  divided by the  applicable
Conversion  Price,  and multiplied by the highest Closing Bid Price of the stock
from date of the conversion notice till the date that such cash payment is made.

     Further, if the Company shall not have delivered any cash due in respect of
conversion of this Debenture by the fifth (5th) Trading Day after the Conversion
Date,  the Holder  may, by notice to the  Company,  require the Company to issue
shares of Common Stock  pursuant to Section  4(c),  except that for such purpose
the Conversion  Price  applicable  thereto shall be the lesser of the Conversion
Price on the Conversion Date and the Conversion Price on the date of such Holder
demand. Any such shares will be subject to the provisions of this Section.

     (iii) The Holder shall effect  conversions  by  delivering to the Company a
completed  notice  in the form  attached  hereto  as  Exhibit  A (a  "Conversion
Notice").  The date on which a Conversion Notice is delivered is the "Conversion
Date." Unless the Holder is converting the entire principal  amount  outstanding
under this  Debenture,  the Holder is not required to physically  surrender this
Debenture to the Company in order to effect conversions.  Conversions  hereunder
shall have the  effect of  lowering  the  outstanding  principal  amount of this
Debenture plus all accrued and unpaid  interest or such  principal  amount in an
amount  equal to the  applicable  conversion.  The Holder and the Company  shall
maintain  records  showing the principal  amount  converted and the date of such
conversions.

<PAGE>

         (b) Certain Conversion Restrictions.

     (i) The Company shall not effect any  conversions of this Debenture and the
Holder  shall not have the right to convert  any  portion of this  Debenture  or
receive shares of Common Stock as payment of interest or principal  hereunder to
the  extent  that  after  giving  effect to such  conversion  or receipt of such
interest or principal payment, the Holder,  together with any affiliate thereof,
would  beneficially  own (as determined in accordance  with Section 13(d) of the
Exchange  Act and the rules  promulgated  thereunder)  in excess of 4.99% of the
number of shares of Common Stock outstanding  immediately after giving effect to
such  conversion  or receipt of shares as payment of interest.  Since the Holder
will not be  obligated  to report to the  Company the number of shares of Common
Stock it may hold at the time of a conversion  hereunder,  unless the conversion
at issue would  result in the  issuance  of shares of Common  Stock in excess of
4.99% of the then outstanding shares of Common Stock without regard to any other
shares which may be  beneficially  owned by the Holder or an affiliate  thereof,
the Holder shall have the  authority  and  obligation  to determine  whether the
restriction  contained  in this  Section  will limit any  particular  conversion
hereunder  and to the extent  that the  Holder  determines  that the  limitation
contained in this Section  applies,  the  determination  of which portion of the
principal  amount of this Debenture is convertible  shall be the  responsibility
and  obligation of the Holder.  If the Holder has delivered a Conversion  Notice
for a interest or principal amount of this Debenture that, without regard to any
other  shares that the Holder or its  affiliates  may  beneficially  own,  would
result in the issuance in excess of the permitted amount hereunder,  the Company
shall  notify the  Holder of this fact and shall  honor the  conversion  for the
maximum  interest  or  principal  amount  permitted  to  be  converted  on  such
Conversion Date in accordance with the periods described in Section 4(a)(i) and,
any principal  amount tendered for conversion in excess of the permitted  amount
hereunder shall remain outstanding under this Debenture.  The provisions of this
Section  may be waived by a Holder  (but only as to itself  and not to any other
Holder) upon not less than 65 days prior notice to the  Company.  Other  Holders
shall be unaffected by any such waiver.

         (c) Conversion Price and Adjustments to Conversion Price.

     (i) The conversion price in effect on any Conversion Date shall be equal to
$0.0075 per share (the "Conversion Price"). The Conversion Price may be adjusted
pursuant to the terms of this Debenture.

     (ii) If the Company, at any time while this Debenture is outstanding, shall
(a) pay a stock dividend or otherwise make a distribution  or  distributions  on
shares of its Common Stock or any other equity or equity  equivalent  securities
payable in shares of Common Stock,  (b) subdivide  outstanding  shares of Common
Stock into a larger number of shares,  (c) combine  (including by way of reverse
stock split) outstanding shares of Common Stock into a smaller number of shares,
or (d) issue by  reclassification  of shares of the  Common  Stock any shares of
capital stock of the Company, then the Conversion Price shall be multiplied by a
fraction of which the  numerator  shall be the number of shares of Common  Stock
(excluding  treasury shares, if any) outstanding  before such event and of which
the denominator  shall be the number of shares of Common Stock outstanding after
such event.  Any adjustment made pursuant to this Section shall become effective
immediately after the record date for the determination of stockholders entitled
to receive such dividend or distribution and shall become effective  immediately
after  the  effective  date  in  the  case  of  a  subdivision,  combination  or
re-classification.

     (iii) If the  Company,  at any time while this  Debenture  is  outstanding,
shall issue rights,  options or warrants to all holders of Common Stock (and not
to the Holder)  entitling  them to  subscribe  for or purchase  shares of Common
Stock at a price per share less than the  Conversion  Price  except to officers,
employees  and  directors of the  Company,  then the  Conversion  Price shall be
multiplied by a fraction, of which the denominator shall be the number of shares
of the Common Stock (excluding  treasury shares, if any) outstanding on the date
of issuance of such rights or warrants (plus the number of additional  shares of
Common Stock offered for  subscription or purchase),  and of which the numerator
shall be the number of shares of the Common Stock (excluding treasury shares, if
any)  outstanding  on the date of issuance of such rights or warrants,  plus the
number  of shares  which the  aggregate  offering  price of the total  number of
shares so offered would purchase at the Conversion  Price. Such adjustment shall
be made whenever such rights or warrants are issued,  and shall become effective
immediately after the record date for the determination of stockholders entitled
to receive such rights, options or warrants. However, upon the expiration of any
such  right,  option or  warrant  to  purchase  shares of the  Common  Stock the
issuance of which resulted in an adjustment in the Conversion  Price pursuant to
this  Section,  if any such right,  option or warrant shall expire and shall not
have been exercised, the Conversion Price shall immediately upon such expiration
be recomputed and effective immediately upon such expiration be increased to the
price  which it would have been (but  reflecting  any other  adjustments  in the
Conversion  Price made  pursuant to the  provisions  of this  Section  after the
issuance of such rights or warrants) had the adjustment of the Conversion  Price
made upon the  issuance of such  rights,  options or  warrants  been made on the
basis of offering for subscription or purchase only that number of shares of the
Common Stock  actually  purchased  upon the exercise of such rights,  options or
warrants actually exercised.

<PAGE>

     (iv) If the Company or any subsidiary thereof,  as applicable,  at any time
while this  Debenture  is  outstanding,  shall issue  shares of Common  Stock or
rights, warrants,  options or other securities or debt that are convertible into
or  exchangeable  for  shares  of  Common  Stock  ("Common  Stock  Equivalents")
entitling  any Person to acquire  shares of Common  Stock,  at a price per share
less than the  Conversion  Price (if the  holder of the  Common  Stock or Common
Stock  Equivalent so issued shall at any time,  whether by operation of purchase
price adjustments, reset provisions,  floating conversion,  exercise or exchange
prices or  otherwise,  or due to warrants,  options or rights per share which is
issued in connection with such issuance, be entitled to receive shares of Common
Stock at a price  per  share  which  is less  than the  Conversion  Price,  such
issuance shall be deemed to have occurred for less than the  Conversion  Price),
then, at the sole option of the Holder,  the Conversion  Price shall be adjusted
to mirror the  conversion,  exchange or purchase  price for such Common Stock or
Common Stock Equivalents (including any reset provisions thereof) at issue. Such
adjustment shall be made whenever such Common Stock or Common Stock  Equivalents
are issued.  The Company  shall notify the Holder in writing,  no later than one
(1)  business  day  following  the  issuance of any Common Stock or Common Stock
Equivalent subject to this Section,  indicating therein the applicable  issuance
price, or of applicable reset price, exchange price,  conversion price and other
pricing  terms.  No  adjustment  under this Section shall be made as a result of
issuances of Excluded Securities.

     (v) If the Company, at any time while this Debenture is outstanding,  shall
distribute  to all holders of Common Stock (and not to the Holder)  evidences of
its  indebtedness  or assets or rights or warrants to subscribe  for or purchase
any  security,  then in each  such  case the  Conversion  Price  at  which  this
Debenture shall thereafter be convertible shall be determined by multiplying the
Conversion  Price in  effect  immediately  prior to the  record  date  fixed for
determination  of  stockholders  entitled  to  receive  such  distribution  by a
fraction of which the denominator  shall be the Closing Bid Price  determined as
of the record date  mentioned  above,  and of which the numerator  shall be such
Closing Bid Price on such  record  date less the then fair market  value at such
record  date of the  portion  of such  assets or  evidence  of  indebtedness  so
distributed  applicable  to  one  outstanding  share  of  the  Common  Stock  as
determined  by the  Board  of  Directors  in good  faith.  In  either  case  the
adjustments  shall be  described  in a  statement  provided to the Holder of the
portion  of  assets  or  evidences  of   indebtedness  so  distributed  or  such
subscription  rights  applicable to one share of Common Stock.  Such  adjustment
shall be made whenever any such  distribution is made and shall become effective
immediately after the record date mentioned above.

     (vi) In case of any  reclassification of the Common Stock or any compulsory
share  exchange  pursuant  to which the  Common  Stock is  converted  into other
securities,  cash or property, the Holder shall have the right thereafter to, at
its option, (A) convert the then outstanding principal amount, together with all
accrued  but unpaid  interest  and any other  amounts  then owing  hereunder  in
respect of this  Debenture into the shares of stock and other  securities,  cash
and property receivable upon or deemed to be held by holders of the Common Stock
following  such  reclassification  or share  exchange,  and the  Holder  of this
Debenture  shall  be  entitled  upon  such  event  to  receive  such  amount  of
securities,  cash or property  as the shares of the Common  Stock of the Company
into which the then outstanding principal amount,  together with all accrued but
unpaid  interest and any other  amounts then owing  hereunder in respect of this
Debenture could have been converted  immediately prior to such  reclassification
or share exchange would have been entitled, or (B) require the Company to prepay
the outstanding principal amount of this Debenture,  plus all interest and other
amounts due and payable  thereon.  The entire  prepayment price shall be paid in
cash. This provision shall  similarly apply to successive  reclassifications  or
share exchanges.

     (vii)  Whenever  the  Conversion  Price is  adjusted  pursuant to Section 4
hereof, the Company shall promptly mail to the Holder a notice setting forth the
Conversion  Price after such  adjustment and setting forth a brief  statement of
the facts requiring such adjustment.

<PAGE>

     (viii)  If  (A)  the  Company  shall  declare  a  dividend  (or  any  other
distribution)  on the Common  Stock;  (B) the  Company  shall  declare a special
nonrecurring  cash  dividend on or a  redemption  of the Common  Stock;  (C) the
Company  shall  authorize the granting to all holders of the Common Stock rights
or warrants to  subscribe  for or  purchase  any shares of capital  stock of any
class or of any  rights;  (D) the  approval of any  stockholders  of the Company
shall be required in connection with any  reclassification  of the Common Stock,
any  consolidation  or  merger  to which  the  Company  is a party,  any sale or
transfer  of all or  substantially  all of the  assets  of the  Company,  of any
compulsory  share  exchange  whereby the Common  Stock is  converted  into other
securities,  cash or property;  or (E) the Company shall authorize the voluntary
or  involuntary  dissolution,  liquidation  or winding up of the  affairs of the
Company;  then, in each case, the Company shall cause to be filed at each office
or agency maintained for the purpose of conversion of this Debenture,  and shall
cause to be mailed to the Holder at its last address as it shall appear upon the
stock books of the  Company,  at least  twenty (20)  calendar  days prior to the
applicable record or effective date hereinafter  specified, a notice stating (x)
the date on which a record  is to be taken  for the  purpose  of such  dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken,
the date as of which the holders of the Common Stock of record to be entitled to
such  dividend,  distributions,   redemption,  rights  or  warrants  are  to  be
determined  or (y)  the  date on  which  such  reclassification,  consolidation,
merger,  sale,  transfer or share  exchange is expected to become  effective  or
close,  and the date as of which it is expected that holders of the Common Stock
of record  shall be entitled to exchange  their  shares of the Common  Stock for
securities,  cash or other  property  deliverable  upon  such  reclassification,
consolidation,  merger,  sale,  transfer or share exchange,  provided,  that the
failure to mail such  notice or any defect  therein  or in the  mailing  thereof
shall not affect the validity of the corporate  action  required to be specified
in such  notice.  The Holder is entitled to convert  this  Debenture  during the
20-day calendar period  commencing the date of such notice to the effective date
of the event triggering such notice.

     (ix) In case of any (1)  merger  or  consolidation  of the  Company  or any
subsidiary  of the  Company  with or into  another  Person,  or (2)  sale by the
Company or any  subsidiary of the Company of more than one-half of the assets of
the Company in one or a series of related transactions,  a Holder shall have the
right to (A) exercise any rights under Section  2(b),  (B) convert the aggregate
amount of this  Debenture  then  outstanding  into the shares of stock and other
securities, cash and property receivable upon or deemed to be held by holders of
Common Stock following such merger, consolidation or sale, and such Holder shall
be entitled  upon such event or series of related  events to receive such amount
of  securities,  cash and property as the shares of Common Stock into which such
aggregate   principal  amount  of  this  Debenture  could  have  been  converted
immediately  prior to such  merger,  consolidation  or  sales  would  have  been
entitled, or (C) in the case of a merger or consolidation, require the surviving
entity to issue to the Holder a convertible  Debenture  with a principal  amount
equal to the  aggregate  principal  amount of this  Debenture  then held by such
Holder,  plus all accrued and unpaid  interest and other amounts owing  thereon,
which such  newly  issued  convertible  Debenture  shall  have  terms  identical
(including with respect to conversion) to the terms of this Debenture, and shall
be entitled to all of the rights and  privileges of the Holder of this Debenture
set forth  herein and the  agreements  pursuant  to which this  Debentures  were
issued. In the case of clause (C), the conversion price applicable for the newly
issued shares of convertible preferred stock or convertible  Debentures shall be
based upon the amount of securities, cash and property that each share of Common
Stock  would  receive in such  transaction  and the  Conversion  Price in effect
immediately prior to the effectiveness or closing date for such transaction. The
terms of any such merger,  sale or consolidation  shall include such terms so as
to  continue to give the Holder the right to receive  the  securities,  cash and
property set forth in this Section upon any  conversion or redemption  following
such event. This provision shall similarly apply to successive such events.

         (d) Other Provisions.

     (i) The Company  shall at all times  reserve and keep  available out of its
authorized  Common Stock the full number of shares of Common Stock issuable upon
conversion of all outstanding amounts under this Debenture; and within three (3)
Business  Days  following  the receipt by the Company of a Holder's  notice that
such minimum number of Underlying  Shares is not so reserved,  the Company shall
promptly  reserve a  sufficient  number of shares of Common Stock to comply with
such requirement.

     (ii) All  calculations  under  this  Section 4 shall be  rounded  up to the
nearest $0.0001 or whole share.

     (iiii) The  Company  covenants  that it will at all times  reserve and keep
available out of its authorized  and unissued  shares of Common Stock solely for
the  purpose of  issuance  upon  conversion  of this  Debenture  and  payment of
interest on this Debenture, each as herein provided, free from preemptive rights
or any other actual contingent purchase rights of persons other than the Holder,
not less than such number of shares of the Common Stock as shall (subject to any
additional  requirements  of the  Company as to  reservation  of such shares set
forth in this  Debenture or in the  Transaction  Documents) be issuable  (taking
into  account  the  adjustments  and  restrictions  set forth  herein)  upon the
conversion of the outstanding  principal amount of this Debenture and payment of
interest  hereunder.  The Company covenants that all shares of Common Stock that
shall be so issuable shall, upon issue, be duly and validly  authorized,  issued
and fully paid and nonassessable.

<PAGE>

     (iv) Upon a conversion hereunder the Company shall not be required to issue
stock certificates representing fractions of shares of the Common Stock, but may
if otherwise permitted,  make a cash payment in respect of any final fraction of
a share based on the Closing Bid Price at such time. If the Company  elects not,
or is unable,  to make such a cash  payment,  the Holder  shall be  entitled  to
receive,  in lieu of the final  fraction  of a share,  one whole share of Common
Stock.

     (v) The  issuance  of  certificates  for  shares  of the  Common  Stock  on
conversion of this Debenture  shall be made without charge to the Holder thereof
for any documentary stamp or similar taxes that may be payable in respect of the
issue or delivery of such  certificate,  provided  that the Company shall not be
required to pay any tax that may be payable in respect of any transfer  involved
in the issuance and delivery of any such  certificate  upon conversion in a name
other than that of the Holder of such  Debenture  so  converted  and the Company
shall not be required to issue or deliver such certificates  unless or until the
person or persons requesting the issuance thereof shall have paid to the Company
the  amount of such tax or shall have  established  to the  satisfaction  of the
Company that such tax has been paid.

     (vi) Nothing  herein shall limit a Holder's  right to pursue actual damages
or declare an Event of Default  pursuant  to Section 2 herein for the Company 's
failure  to  deliver  certificates  representing  shares  of Common  Stock  upon
conversion  within the period  specified  herein and such Holder  shall have the
right to pursue  all  remedies  available  to it at law or in equity  including,
without limitation,  a decree of specific  performance and/or injunctive relief,
in each case  without  the need to post a bond or provide  other  security.  The
exercise  of any such  rights  shall not  prohibit  the Holder  from  seeking to
enforce damages pursuant to any other Section hereof or under applicable law.

     (vii) In  addition to any other  rights  available  to the  Holder,  if the
Company fails to deliver to the Holder such certificate or certificates pursuant
to Section 4(a)(i) by the fifth (5th) Trading Day after the Conversion Date, and
if after such fifth (5th)  Trading Day the Holder  purchases  (in an open market
transaction or otherwise)  Common Stock to deliver in  satisfaction of a sale by
such Holder of the Underlying Shares which the Holder anticipated receiving upon
such  conversion  (a  "Buy-In"),  then the Company  shall (A) pay in cash to the
Holder (in addition to any  remedies  available to or elected by the Holder) the
amount by which (x) the  Holder's  total  purchase  price  (including  brokerage
commissions,  if any) for the Common Stock so purchased  exceeds (y) the product
of (1) the  aggregate  number  of  shares  of  Common  Stock  that  such  Holder
anticipated  receiving from the conversion at issue multiplied by (2) the market
price of the Common  Stock at the time of the sale giving rise to such  purchase
obligation  and (B) at the option of the Holder,  either  reissue a Debenture in
the principal amount equal to the principal  amount of the attempted  conversion
or deliver  to the  Holder the number of shares of Common  Stock that would have
been issued had the Company timely complied with its delivery requirements under
Section  4(a)(i).  For example,  if the Holder  purchases  Common Stock having a
total  purchase  price of $11,000 to cover a Buy-In with respect to an attempted
conversion  of  Debentures  with  respect  to  which  the  market  price  of the
Underlying  Shares on the date of conversion was a total of $10,000 under clause
(A) of the immediately preceding sentence,  the Company shall be required to pay
the  Holder  $1,000.  The  Holder  shall  provide  the  Company  written  notice
indicating the amounts payable to the Holder in respect of the Buy-In.

<PAGE>

     (viii) The  Company has made  available  to the Holder the  Company's  Form
10-QSB for the quarter ended September 30, 2006, including,  without limitation,
the financial statements of the Company contained therein.

     Section 5. Notices. Any notices,  consents, waivers or other communications
required or  permitted to be given under the terms hereof must be in writing and
will be  deemed  to have  been  delivered:  (i)  upon  receipt,  when  delivered
personally;  (ii) upon receipt, when sent by facsimile (provided confirmation of
transmission is mechanically or electronically generated and kept on file by the
sending  party);  or (iii) one (1) Trading Day after  deposit  with a nationally
recognized  overnight  delivery service,  in each case properly addressed to the
party to  receive  the  same.  The  addresses  and  facsimile  numbers  for such
communications shall be:

<PAGE>

If to the Company, to:      Kronos Advanced Technologies, Inc.
                            464 Common Street, Suite 301
                            Belmont, MA 02478
                            Attention:        Daniel R. Dwight
                            Telephone:        (617) 993-9980
                            Facsimile:        (617) 993-9985

With a copy to:             Kirkpatrick & Lockhart Nicholson Graham, LLP
                            201 South Biscayne Boulevard, Suite 2000
                            Miami, Florida 33131
                            Attention:        Clayton E. Parker, Esquire
                            Telephone:        (305) 539-3306
                            Facsimile:        (305) 358-7095

If to the Holder:           Cornell Capital Partners, LP
                            101 Hudson Street, Suite 3700
                            Jersey City, NJ  07303
                            Attention:        Mark Angelo
                            Telephone:        (201) 985-8300

With a copy to:             David Gonzalez, Esq.
                            101 Hudson Street - Suite 3700
                            Jersey City, NJ 07302
                            Telephone:        (201) 985-8300
                            Facsimile:        (201) 985-8266

or at such other address and/or facsimile number and/or to the attention of such
other person as the  recipient  party has  specified by written  notice given to
each other  party three (3)  business  days prior to the  effectiveness  of such
change.  Written  confirmation  of receipt  (i) given by the  recipient  of such
notice,   consent,   waiver  or  other   communication,   (ii)  mechanically  or
electronically  generated by the sender's facsimile machine containing the time,
date,  recipient  facsimile  number  and an  image  of the  first  page  of such
transmission  or (iii) provided by a nationally  recognized  overnight  delivery
service, shall be rebuttable evidence of personal service,  receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

     Section 6. Definitions.  For the purposes hereof, the following terms shall
have the following meanings:

     "Approved  Stock Plan" means a stock option plan that has been  approved by
the Board of Directors of the Company prior to the date of the Letter Agreement,
pursuant to which the Company's  securities  may be issued only to any employee,
officer or director for services provided to the Company.

     "Business  Day"  means any day  except  Saturday,  Sunday and any day which
shall be a federal  legal holiday in the United States or a day on which banking
institutions  are  authorized or required by law or other  government  action to
close.

     "Change of Control  Transaction" means the occurrence of (a) an acquisition
after the date hereof by an  individual or legal entity or "group" (as described
in Rule  13d-5(b)(1)  promulgated  under the Exchange Act) of effective  control
(whether through legal or beneficial  ownership of capital stock of the Company,
by  contract or  otherwise)  of in excess of fifty  percent  (50%) of the voting
securities of the Company (except that the  acquisition of voting  securities by
the Holder  shall not  constitute a Change of Control  Transaction  for purposes
hereof), (b) a replacement at one time or over time of more than one-half of the
members of the board of  directors  of the  Company  which is not  approved by a
majority of those  individuals  who are members of the board of directors on the
date hereof (or by those  individuals who are serving as members of the board of
directors on any date whose nomination to the board of directors was approved by
a majority of the members of the board of directors  who are members on the date
hereof), (c) the merger, consolidation or sale of fifty percent (50%) or more of
the assets of the Company or any subsidiary of the Company in one or a series of
related  transactions  with or into another entity,  or (d) the execution by the
Company of an agreement to which the Company is a party or by which it is bound,
providing for any of the events set forth above in (a), (b) or (c).

<PAGE>

     "Closing Bid Price" means the price per share in the last reported trade of
the Common Stock on a Primary  Market or on the exchange  which the Common Stock
is then listed as quoted by Bloomberg, LP.

     "Commission" means the Securities and Exchange Commission.

     "Common Stock" means the common stock,  par value $.001, of the Company and
stock of any other  class  into which such  shares may  hereafter  be changed or
reclassified.

     "Conversion  Date"  shall  mean the date upon  which the  Holder  gives the
Company  notice of their  intention to effectuate a conversion of this Debenture
into shares of the Company's Common Stock as outlined herein.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     "Excluded  Securities"  means,  (a)  shares  issued  or deemed to have been
issued by the Company  pursuant  to an Approved  Stock Plan (b) shares of Common
Stock issued or deemed to be issued by the Company upon the conversion, exchange
or exercise of any right, option, obligation or security outstanding on the date
prior to date of the Letter  Agreement,  provided  that the terms of such right,
option, obligation or security are not amended or otherwise modified on or after
the date of the  Letter  Agreement,  and  provided  that the  conversion  price,
exchange price, exercise price or other purchase price is not reduced,  adjusted
or  otherwise  modified  and the  number of shares  of  Common  Stock  issued or
issuable is not increased  (whether by operation of, or in accordance  with, the
relevant  governing  documents or  otherwise) on or after the date of the Letter
Agreement,  and (c) the shares of Common  Stock issued or deemed to be issued by
the Company upon conversion of this Debenture.

     "Original  Issue  Date"  shall mean the date of the first  issuance of this
Debenture  regardless of the number of transfers and regardless of the number of
instruments, which may be issued to evidence such Debenture.

     "Person" means a corporation, an association, a partnership,  organization,
a business,  an individual,  a government or political  subdivision thereof or a
governmental agency.

     "Securities  Act" means the  Securities  Act of 1933,  as amended,  and the
rules and regulations promulgated thereunder.

     "Trading Day" means a day on which the shares of Common Stock are quoted on
the OTC or quoted or traded on such Primary Market on which the shares of Common
Stock are then quoted or listed;  provided, that in the event that the shares of
Common  Stock are not listed or quoted,  then  Trading Day shall mean a Business
Day.

<PAGE>

     "Transaction  Documents"  means the Letter Agreement or any other agreement
delivered in connection with the Letter Agreement.

     "Underlying  Shares"  means  the  shares  of  Common  Stock  issuable  upon
conversion of this  Debenture or as payment of interest in  accordance  with the
terms hereof.

     Section 7.  Except as  expressly  provided  herein,  no  provision  of this
Debenture  shall  alter or impair  the  obligations  of the  Company,  which are
absolute  and  unconditional,  to pay  the  principal  of and  interest  on this
Debenture at the time,  place,  and rate,  and in the coin or  currency,  herein
prescribed. This Debenture is a direct obligation of the Company. This Debenture
ranks pari passu with all other  Debentures  now or  hereafter  issued under the
terms set forth herein.  As long as this Debenture is  outstanding,  the Company
shall not and shall cause their  subsidiaries not to, without the consent of the
Holder,  (i) amend its  certificate  of  incorporation,  bylaws or other charter
documents  so as to  adversely  affect any  rights of the  Holder;  (ii)  repay,
repurchase  or offer to repay,  repurchase  or otherwise  acquire  shares of its
Common Stock or other equity  securities other than as to the Underlying  Shares
to the extent  permitted or required under the Transaction  Documents;  or (iii)
enter into any agreement with respect to any of the foregoing.

     Section 8. This Debenture shall not entitle the Holder to any of the rights
of a stockholder  of the Company,  including  without  limitation,  the right to
vote, to receive dividends and other distributions, or to receive any notice of,
or to attend,  meetings of stockholders or any other proceedings of the Company,
unless and to the extent  converted  into shares of Common  Stock in  accordance
with the terms hereof.

     Section 9. If this Debenture is mutilated,  lost, stolen or destroyed,  the
Company shall  execute and deliver,  in exchange and  substitution  for and upon
cancellation of the mutilated Debenture,  or in lieu of or in substitution for a
lost, stolen or destroyed Debenture, a new Debenture for the principal amount of
this Debenture so mutilated,  lost, stolen or destroyed but only upon receipt of
evidence  of such  loss,  theft or  destruction  of such  Debenture,  and of the
ownership hereof, and indemnity,  if requested,  all reasonably  satisfactory to
the Company.

     Section 10. Intentional Not Used.

     Section 11. This Debenture shall be governed by and construed in accordance
with the laws of the State of New Jersey,  without giving effect to conflicts of
laws thereof.  Each of the parties  consents to the jurisdiction of the Superior
Courts of the State of New Jersey sitting in Hudson  County,  New Jersey and the
U.S. District Court for the District of New Jersey sitting in Newark, New Jersey
in connection  with any dispute  arising under this Debenture and hereby waives,
to the maximum extent  permitted by law, any objection,  including any objection
based on forum non  conveniens  to the bringing of any such  proceeding  in such
jurisdictions.

     Section 12. If the Company fails to strictly  comply with the terms of this
Debenture,  then  the  Company  shall  reimburse  the  Holder  promptly  for all
reasonable fees, costs and expenses,  including, without limitation,  attorneys'
fees and expenses  incurred by the Holder in any action in connection  with this
Debenture,  including,  without  limitation,  those  incurred:  (i)  during  any
workout,  attempted  workout,  and/or in connection  with the rendering of legal
advice as to the Holder's rights, remedies and obligations,  (ii) collecting any
sums  which  become  due to the  Holder,  (iii)  defending  or  prosecuting  any
proceeding  or any  counterclaim  to any  proceeding  or  appeal;  or  (iv)  the
protection, preservation or enforcement of any rights or remedies of the Holder.

<PAGE>

     Section 13. Any waiver by the Holder of a breach of any  provision  of this
Debenture  shall  not  operate  as or be  construed  to be a waiver of any other
breach  of such  provision  or of any  breach  of any  other  provision  of this
Debenture. The failure of the Holder to insist upon strict adherence to any term
of this Debenture on one or more  occasions  shall not be considered a waiver or
deprive that party of the right  thereafter  to insist upon strict  adherence to
that term or any other term of this Debenture. Any waiver must be in writing.

     Section 14. If any  provision  of this  Debenture  is  invalid,  illegal or
unenforceable,  the balance of this Debenture shall remain in effect, and if any
provision is inapplicable to any person or circumstance,  it shall  nevertheless
remain applicable to all other persons and  circumstances.  If it shall be found
that any interest or other amount deemed  interest due  hereunder  shall violate
applicable laws governing  usury,  the applicable rate of interest due hereunder
shall  automatically be lowered to equal the maximum permitted rate of interest.
The Company  covenants  (to the extent that it may lawfully do so) that it shall
not at any time insist upon,  plead, or in any manner  whatsoever  claim or take
the benefit or advantage of, any stay, extension or usury law or other law which
would  prohibit  or forgive  the  Company  from paying all or any portion of the
principal of or interest on this  Debenture  as  contemplated  herein,  wherever
enacted,  now or at any time  hereafter  in  force,  or  which  may  affect  the
covenants or the performance of this  indenture,  and the Company (to the extent
it may lawfully do so) hereby  expressly waives all benefits or advantage of any
such law,  and  covenants  that it will not, by resort to any such law,  hinder,
delay or impeded the  execution of any power herein  granted to the Holder,  but
will  suffer and permit  the  execution  of every such as though no such law has
been enacted.

     Section 15. Whenever any payment or other obligation hereunder shall be due
on a day other  than a  Business  Day,  such  payment  shall be made on the next
succeeding Business Day.

     Section 16. This Debenture is exchangeable for an equal aggregate principal
amount of Debentures of different authorized denominations,  as requested by the
Holder  surrendering  the  same.  No  service  charge  will  be  made  for  such
registration of transfer or exchange.

     Section 17. THE PARTIES HEREBY  KNOWINGLY,  VOLUNTARILY  AND  INTENTIONALLY
WAIVE  THE  RIGHT  ANY OF THEM  MAY HAVE TO A TRIAL  BY JURY IN  RESPECT  OF ANY
LITIGATION  BASED  HEREON OR ARISING OUT OF,  UNDER OR IN  CONNECTION  WITH THIS
AGREEMENT  OR ANY  TRANSACTION  DOCUMENT  OR ANY  COURSE OF  CONDUCT,  COURSE OF
DEALING,  STATEMENTS  (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY.  THIS
PROVISION  IS  A  MATERIAL  INDUCEMENT  FOR  THE  PARTIES'  ACCEPTANCE  OF  THIS
AGREEMENT.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Secured Convertible
Debenture to be duly executed by a duly authorized officer as of the date set
forth above.

                    COMPANY:
                    KRONOS ADVANCED TECHNOLOGIES, INC.

                    By:      /s/ Daniel R. Dwight
                    Name:    Daniel R. Dwight
                    Title:   President and Chief Executive Officer

<PAGE>

                                    EXHIBIT A

                                CONVERSION NOTICE

        (To be executed by the Holder in order to Convert the Debenture)

TO:

     The undersigned hereby irrevocably elects to convert $ _____________ of the
principal amount of Debenture No. KNOS-3-1 into Shares of Common Stock of KRONOS
ADVANCED  TECHNOLOGIES,  INC., according to the conditions stated therein, as of
the Conversion Date written below.

Conversion Date:
                -------------------------------------------------------
Amount to be converted:
                       $-----------------------------------------------
Conversion Price:
                       $-----------------------------------------------
Number of shares of Common Stock to be
issued: ---------------------------------------------------------------
Amount of Debenture
Unconverted:           $-----------------------------------------------

Please issue the shares of Common Stock in the following name and to the
following address: Issue to:

Authorized Signature:
                            -------------------------
Name:
                            -------------------------
Title:
                            -------------------------
Broker DTC Participant Code:
                            -------------------------
Account Number:
                            -------------------------

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