Document:

EX-10.1

FOURTH AMENDMENT AGREEMENT

This FOURTH AMENDMENT AGREEMENT (this “Amendment”) is made as of the 8th day of
March, 2010 among:

(a) CORE MOLDING TECHNOLOGIES, INC., a Delaware corporation (“Core Molding”);

(b) CORECOMPOSITES DE MEXICO, S. DE R.L. DE C.V., a sociedad de responsabilidad limitada de
capital variable organized under the laws of Mexico (“Core Mexico” and, together with Core Molding,
collectively, “Borrowers” and, individually, each a “Borrower”);

(c) the Lenders, as defined in the Credit Agreement, as hereinafter defined; and

(d) KEYBANK NATIONAL ASSOCIATION, as the lead arranger, sole book runner and administrative
agent for the Lenders under the Credit Agreement (“Agent”).

WHEREAS, Borrowers, Agent and the Lenders are parties to that certain Credit Agreement, dated
as of December 9, 2008, that provides, among other things, for loans and letters of credit
aggregating Thirty-Four Million Eleven Thousand Fifty-Six and 15/100 Dollars ($34,011,056.15), all
upon certain terms and conditions (as amended and as the same may from time to time be further
amended, restated or otherwise modified, the “Credit Agreement”);

WHEREAS, Borrowers, Agent and the Lenders desire to amend the Credit Agreement to modify
certain provisions thereof and add certain provisions thereto;

WHEREAS, each capitalized term used herein and defined in the Credit Agreement, but not
otherwise defined herein, shall have the meaning given such term in the Credit Agreement; and

WHEREAS, unless otherwise specifically provided herein, the provisions of the Credit Agreement
revised herein are amended effective as of the date of this Amendment;

NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein and for
other valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
Borrowers, Agent and the Lenders agree as follows:

1. Amendment to Definitions. Section 1.1 of the Credit Agreement is hereby amended to
delete the definitions of “Consolidated EBITDA” and “Consolidated Fixed Charges” therefrom and to
insert in place thereof, respectively, the following:

“Consolidated EBITDA” means, for any period, as determined on a Consolidated basis and
in accordance with GAAP, (a) Consolidated Net Earnings for such period plus, without
duplication, the aggregate amounts deducted in determining such Consolidated Net Earnings in
respect of (i) Consolidated Interest Expense, (ii) Consolidated Income Tax Expense,
(iii) Consolidated Depreciation and Amortization Charges, (iv) reasonable non-recurring
non-cash losses not incurred in the ordinary course of business, (v) non-cash compensation
expenses recognized under Statement of Financial Accounting Standards 123R in connection
with Core Molding’s equity incentive stock option plan and restricted stock grants; (vi)
transition and relocation costs incurred in construction of the Mexican Project (up to an
aggregate amount not to exceed Three Million Two Hundred Thousand Dollars ($3,200,000) from
September 1, 2008 through July 31, 2009), (vii) non-cash post-retirement expenses minus
retirement benefits paid in cash, and (viii) transition and relocation costs incurred
between February 1, 2010 and September 30, 2010 in connection with the Press Transfers (up
to an aggregate amount not to exceed Two Million Dollars ($2,000,000)); minus (b) to the
extent included in Consolidated Net Earnings for such period, non-recurring gains not
incurred in the ordinary course of business.

“Consolidated Fixed Charges” means, for any period, on a Consolidated basis and in
accordance with GAAP, the aggregate, without duplication, of (a) Consolidated Interest
Expense (including, without limitation, the “imputed interest” portion of Capitalized Lease
Obligations, synthetic leases and asset securitizations, if any, but excluding any measure
of ineffectiveness related to interest rate swaps and amortization of loan origination and
issuance costs), (b) Consolidated Income Tax Expense, (c) scheduled principal payments of
long-term Consolidated Funded Indebtedness (other than scheduled principal payments of the
Mexican Loan that were prepaid by Core Molding or any of its Subsidiaries one year (or
longer) prior to the due date of such principal payment), (d) Capital Distributions, and (e)
Consolidated Unfunded Capital Expenditures; provided that, for the purposes of calculating
the Fixed Charge Coverage Ratio (i) Consolidated Unfunded Capital Expenditures shall exclude
capital expenses incurred between February 1, 2010 and September 30, 2010 in connection with
the Press Transfers (up to an aggregate amount not to exceed Two Million Dollars
($2,000,000)), and (ii) on and after the Capital Expenditure Modification Date, Consolidated
Unfunded Capital Expenditures shall be deemed to be Two Million Dollars ($2,000,000) for the
most recently completed four fiscal quarters of Core Molding.

2. Additions to Definitions. Section 1.1 of the Credit Agreement is hereby amended to
add the following new definition thereto:

“Press Transfers” means the relocation of certain products to Borrowers’ facility on
the Mexican Real Property, as described in the 1st Addendum to the Comprehensive
Supply Agreement with Navistar, Inc., dated January 28, 2010, a copy of which has been
delivered to Agent. The relocation includes the transport and installation of up to five
presses, as more specifically identified on Schedule 5.12 hereto, from Columbus,
Ohio to the Mexican Real Property; provided that the ownership of such presses shall remain
with the current owner of such presses (as set forth on Schedule 5.12 hereto). Core
Molding may elect to purchase, transport and install two used presses in lieu of
transferring two of the five presses from Columbus, Ohio.

3. Amendment to Prepayment Provisions. Section 2.11(a)(i) of the Credit Agreement is
hereby amended to delete the last sentence therefrom and to insert in place thereof the following:

Each prepayment of (A) the Term Loan or the Capex Term Loan shall be applied to the
principal installments thereof in the inverse order of their respective maturities, and (B)
the Mexican Loan shall be applied to the principal installments thereof in the order of
their respective maturities.

4. Amendment to Schedules. The Credit Agreement is hereby amended to add a new
Schedule 5.12 (Press Transfers) thereto, in the form of Schedule 5.12 hereto.

5. Retroactive Consent to Modification to Amortization Schedule of Mexican Loan. The
amortization schedule in Section 2.5 of the Credit Agreement and the Mexican Note contemplated that
Core Mexico would borrow the full amount of the Mexican Loan Commitment prior to Mexican Line
Conversion Date. As of the date hereof, the principal amount of the Mexican Loan outstanding is
Six Million Four Hundred Thousand Dollars ($6,400,000), which is One Million Six Hundred Thousand
Dollars ($1,600,000) less than Mexican Loan Commitment. No further Mexican Draw Disbursements are
permitted under the Credit Agreement or the other Loan Documents. As a result of the foregoing,
Borrowers have requested that Agent and the Lenders forgo the principal payment due January 31,
2010, so that the first principal payment will be due on January 31, 2011, and that all principal
payments thereafter will be due as set forth in Section 2.5 of the Credit Agreement and the Mexican
Note (the “Amortization Schedule Modification”). Agent and the Lenders hereby retroactively
consent, effective as of January 30, 2010, to the Amortization Schedule Modification, on the
conditions that no Default or Event of Default exists under the Credit Agreement or the other Loan
Documents as of the date hereof. This Amendment shall serve as evidence of such consent. The
consent contained in this Section 5 shall not be deemed to waive or amend any other provision of
the Credit Agreement or the Loan Documents and shall not serve as consent to, or amendment of, any
other matter inconsistent with the terms and conditions of the Credit Agreement or any other Loan
Documents. All of the terms of the Credit Agreement and the other Loan Documents remain in full
force and effect, and the respective obligations of Borrowers thereunder are legal, valid, binding
and enforceable against Borrowers.

6. Consent to the Press Transfers. Borrowers have requested that Agent and the
Lenders consent to the Press Transfers. Agent and the Lenders hereby consent to the Press
Transfers, so long as (a) at the time of each such transfer, no Default or Event of Default shall
then exist or thereafter shall begin to exist under the Credit Agreement or any other Loan
Document, (b) the aggregate amount of transition and relocation costs incurred by Borrowers between
February 1, 2010 and September 30, 2010 in connection with the Press Transfers is not greater than
Two Million Dollars ($2,000,000), and (c) the Press Transfers are completed by no later than
September 30, 2010. This Amendment shall serve as evidence of such consent. The consent contained
in this Section 6 shall not be deemed to waive or amend any other provision of the Credit Agreement
or the Loan Documents and shall not serve as consent to, or amendment of, any other matter
inconsistent with the terms and conditions of the Credit Agreement or any other Loan Documents.
All of the terms of the Credit Agreement and the other Loan Documents remain in full force and
effect, and the respective obligations of Borrowers thereunder are legal, valid, binding and
enforceable against Borrowers.

7. Closing Deliveries. Concurrently with the execution of this Amendment, Borrowers
shall:

(a) deliver to Agent an executed copy of the 1st Addendum to the
Comprehensive Supply Agreement with Navistar, Inc., dated January 28, 2010;

(b) cause each Guarantor of Payment to execute the attached Guarantor Acknowledgment
and Agreement; and

(c) pay all legal fees and expenses of Agent in connection with this Amendment.

8. Representations and Warranties. Borrowers hereby represent and warrant to Agent
and the Lenders that (a) Borrowers have the legal power and authority to execute and deliver this
Amendment; (b) the officers executing this Amendment have been duly authorized to execute and
deliver the same and bind Borrowers with respect to the provisions hereof; (c) the execution and
delivery hereof by Borrowers and the performance and observance by Borrowers of the provisions
hereof do not violate or conflict with the Organizational Documents of Borrowers or any law
applicable to Borrowers or result in a breach of any provision of or constitute a default under any
other agreement, instrument or document binding upon or enforceable against Borrowers; (d) no
Default or Event of Default exists, nor will any occur immediately after the execution and delivery
of this Amendment or by the performance or observance of any provision hereof; (e) each of the
representations and warranties contained in the Loan Documents is true and correct in all material
respects as of the date hereof as if made on the date hereof, except to the extent that any such
representation or warranty expressly states that it relates to an earlier date (in which case such
representation or warranty is true and correct in all material respects as of such earlier date);
(f) Borrowers are not aware of any claim or offset against, or defense or counterclaim to,
Borrowers’ obligations or liabilities under the Credit Agreement or any Related Writing; and
(g) this Amendment constitutes a valid and binding obligation of Borrowers in every respect,
enforceable in accordance with its terms.

9. No Course of Dealing. Borrowers acknowledge and agree that this Amendment is not
intended, nor shall it, establish any course of dealing with respect to the various provisions
amended herein, or otherwise, among Borrowers, Agent and the Lenders that is inconsistent with the
express terms of the Loan Documents.

10. Waiver and Release. Borrowers, by signing below, hereby waive and release Agent
and each of the Lenders, and their respective directors, officers, employees, attorneys, affiliates
and subsidiaries, from any and all claims, offsets, defenses and counterclaims of which Borrowers
are aware, such waiver and release being with full knowledge and understanding of the circumstances
and effect thereof and after having consulted legal counsel with respect thereto.

11. References to Credit Agreement and Ratification. Each reference that is made in
the Credit Agreement or any other Related Writing to the Credit Agreement shall hereafter be
construed as a reference to the Credit Agreement as amended hereby. Except as herein otherwise
specifically provided, all terms and provisions of the Credit Agreement are confirmed and ratified
and shall remain in full force and effect and be unaffected hereby. This Amendment is a Related
Writing.

12. Counterparts. This Amendment may be executed in any number of counterparts, by
different parties hereto in separate counterparts and by facsimile signature, each of which, when
so executed and delivered, shall be deemed to be an original and all of which taken together shall
constitute but one and the same agreement.

13. Headings. The headings, captions and arrangements used in this Amendment are for
convenience only and shall not affect the interpretation of this Amendment.

14. Severability. Any term or provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder
of this Amendment and the effect thereof shall be confined to the term or provision so held to be
invalid or unenforceable.

15. Governing Law. The rights and obligations of all parties hereto shall be governed
by the laws of the State of Ohio, without regard to principles of conflicts of laws.

[Remainder of page intentionally left blank.]

11507751.8JURY TRIAL WAIVER. BORROWERS, AGENT AND THE LENDERS, TO THE
EXTENT PERMITTED BY LAW, EACH HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY
DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG BORROWERS, AGENT AND THE LENDERS,
OR ANY THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT
OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.
THIS WAIVER SHALL NOT IN ANY WAY AFFECT, WAIVE, LIMIT, AMEND OR MODIFY AGENT’S OR ANY LENDER’S
ABILITY TO PURSUE REMEDIES PURSUANT TO ANY CONFESSION OF JUDGMENT OR COGNOVIT PROVISION CONTAINED
IN ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT AMONG BORROWERS, AGENT AND THE LENDERS.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment in Columbus, Ohio
as of the date first set forth above.

	 
	CORE MOLDING TECHNOLOGIES, INC.

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer & CFO

	CORECOMPOSITES DE MEXICO, S. DE R.L. DE C.V.

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: Attorney in Fact

	KEYBANK NATIONAL ASSOCIATION,

as Agent and as a Lender

By: /s/ Roger D. Campbell

Name: Roger D. Campbell

Title: SVP

ACKNOWLEDGMENT AND AGREEMENT

The undersigned consent and agree to and acknowledge the terms of the foregoing Fourth
Amendment Agreement dated as of March 8, 2010. The undersigned further agree that the obligations
of the undersigned pursuant to the Guaranty of Payment executed by the undersigned are hereby
ratified and shall remain in full force and effect and be unaffected hereby.

The undersigned hereby waive and release Agent and the Lenders and their respective directors,
officers, employees, attorneys, affiliates and subsidiaries from any and all claims, offsets,
defenses and counterclaims of any kind or nature, absolute and contingent, of which the undersigned
are aware or should be aware, such waiver and release being with full knowledge and understanding
of the circumstances and effect thereof and after having consulted legal counsel with respect
thereto.

JURY TRIAL WAIVER. THE UNDERSIGNED, TO THE EXTENT PERMITTED BY LAW, HEREBY WAIVE ANY
RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
OTHERWISE, AMONG BORROWERS, AGENT, THE LENDERS AND THE UNDERSIGNED, OR ANY THEREOF, ARISING OUT OF,
IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO. THIS WAIVER SHALL NOT IN ANY
WAY AFFECT, WAIVE, LIMIT, AMEND OR MODIFY THE ABILITY OF AGENT AND LENDERS TO PURSUE REMEDIES
PURSUANT TO ANY CONFESSION OF JUDGMENT OR COGNOVIT PROVISION CONTAINED IN ANY NOTE OR OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT BETWEEN BORROWER, AGENT AND LENDERS.

	 	 	 
	CORE COMPOSITES CINCINNATI, LLC

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer & CFO
	 	CORE COMPOSITES CORPORATION

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer & CFO

	 	 	CORE AUTOMOTIVE TECHNOLOGIES

LLC

By: Core Molding Technologies, Inc.,

Its sole member

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer & CFO

SCHEDULE 5.12

PRESS TRANSFERS

1. Press with identification number 220, owned by Core Molding Technologies, Inc.

2. Press with identification number 219, owned by Core Molding Technologies, Inc.

3. Press with identification number 217, owned by Core Molding Technologies, Inc.

4. Press with identification number 208, owned by Core Molding Technologies, Inc.

5. Press with identification number 201, owned by Core Molding Technologies, Inc.exhibit10_1.htm

    
Exhibit 10.1

    
 

    THIS
REVOLVING PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND HAS BEEN ACQUIRED FOR INVESTMENT
AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION
THEREOF.  NO SUCH SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR
THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES
ACT.

    ______________________________________________________________________________

    

    

    $250,000.00 As
of March 5, 2010

     Los
Angeles, California

    

    

    REVOLVING
PROMISSORY NOTE

    

    In
consideration of such advances (hereinafter “Advance” or “Advances”) as WOODMAN MANAGEMENT CORPORATION,
a California corporation, or its assigns (collectively, “Holder”), from time to time
may make hereon to or for the benefit of CATALYST LIGHTING GROUP INC.,
a Delaware corporation (the “Company”), at the Company’s
offices at 1328 W. Balboa Blvd. Suite C, Newport Beach, CA 92661, or at such
other place as the parties may mutually agree, pursuant to the Revolving Credit
Commitment, as defined below, up to the maximum aggregate principal amount of
Two Hundred Fifty Thousand Dollars ($250,000.00) (the “Maximum Aggregate Amount”),
the Company hereby promises to pay to Holder the principal amount of all
Advances, together with accrued interest thereon from the date of such Advances,
all subject to the terms and conditions set forth below.

    

    1. Revolving Credit
Commitment.

     

    1.1 Advances.  The
Holder agrees to make Advances to the Company from time to time during the
Revolving Credit Commitment Period, as defined below, in an aggregate principal
amount at any one time outstanding which does not exceed the Maximum Aggregate
Amount (the “Revolving Credit
Commitment”).  During the Revolving Credit Commitment Period,
the Company may use the Revolving Credit Commitment by borrowing, prepaying any
Advances in whole or in part, and re-borrowing, all in accordance with the terms
and conditions hereof.

     

    1.2           Interest.  Interest
shall accrue from the date of any Advances on any principal amount withdrawn,
and on accrued and unpaid interest thereon, at the rate of eight percent (8%)
per annum, compounded annually.

     

    2. Revolving Credit Commitment
Period.  The revolving credit commitment period (the “Revolving Credit Commitment
Period”) shall commence as of the date hereof and shall expire on March
5, 2011 (the “Expiration
Date”).

     

    3. Procedure for Revolving
Credit Advances.

     

    3.1 The
Company may request Advances under the Revolving Credit Commitment during the
Revolving Credit Commitment Period on any day of the week, Monday through
Friday, 9 a.m. through 5 p.m., Pacific Time, (hereinafter referred to as any
“Business Day” or “Business Days”), provided that the Company
shall give the Holder irrevocable notice (which notice must be received by the
Holder prior to 12:00 Noon, Pacific Time) one (1) Business Day prior to the
requested Advance date, specifying (i) the amount of the Advance, and (ii) the
requested Advance date.  Each Advance under the Revolving Credit
Commitment shall be in an amount equal to $50,000 or a whole multiple of $50,000
in excess thereof.  Upon receipt of any such notice from the Company,
the Holder will make the amount of the Advance available prior to 12:00 Noon,
Pacific Time, on the Advance date requested by the Company in funds immediately
available to the Company.

     

    3.2 The
Holder shall maintain in accordance with its usual practice an account or
accounts evidencing indebtedness of the Company to the Holder resulting from
each Advance from time to time, including the amounts of principal and interest
payable and paid to the Holder from time to time under this Note.  The
parties acknowledge and agree that as of the date hereof, an aggregate principal
amount of $168,259 in Advances is outstanding.

     

    4. Repayment
Procedure.

     

    4.1 General.  Repayment
on any Advances shall be made in lawful tender of the United
States.  Any payments on this Note made during the Revolving Credit
Commitment Period, as defined below, shall be credited first to any interest due
and the remainder to principal.

     

    4.2 Repayment of Principal and
Interest.  All outstanding and unpaid principal, and all
outstanding and accrued unpaid interest, shall become due and payable on and as
of the Expiration Date.

     

    4.3           Optional
Prepayment.  The Company may, at any time and from time to time
and without penalty, prepay all or any portion of the accrued and unpaid
interest on this Note and any outstanding principle amount of this
Note.

     

    5. Transfers.

     

    5.1 Holder
acknowledges that this Note has not been registered under the Securities Act of
1933, and agrees not to sell, pledge, distribute, offer for sale, transfer or
otherwise dispose of this Note in the absence of (i) an effective registration
statement under the Securities Act as to this Note and registration or
qualification of this Note under any applicable Blue Sky or state securities
laws then in effect, or (ii) an opinion of counsel, satisfactory to the Company,
that such registration and qualification are not required.

     

    5.2 Subject
to the provisions of Section 5.1 hereof,
this Note and all rights hereunder are transferable, in whole or in part, upon
surrender of the Note with a properly executed assignment, in the form
prescribed by the Company, at the principal office of the Company; provided, however, that this
Note may not be transferred in whole or in part without the prior written
consent of the Company.

     

    5.3 Until any
transfer of this Note is made in the Note register, the Company may treat the
registered Holder of this Note as the absolute owner hereof for all purposes;
provided, however, that
if and when this Note is properly assigned in blank, the Company may (but shall
not be required to) treat the bearer hereof as the absolute owner hereof for all
purposes, notwithstanding any notice to the contrary.

     

    5.4 The
Company will maintain a register containing the name and address of the
registered Holder of this Note.  Any registered Holder may change such
registered Holder’s address as shown on the Note register by written notice to
the Company requesting such change.

     

    5.5 In the
discretion of the Company, the Company may condition any transfer of all or any
portion of this Note (other than a disposition satisfying the conditions set
forth in clause (i) of Section 5.1 above)
upon the transferee’s delivery to the Company of a written agreement, in form
and substance satisfactory to the Company, whereby the transferee agrees to be
bound by the transfer restrictions set forth in this Section
5.

    

    6. Events of
Default.

     

    6.1 Events of
Default.  The occurrence of any or all of the following events
shall constitute an event of default (each, an “Event of Default”) by the
Company under this Note:

     

    (i)           Default
by the Company in any payment on this Note after any such payment becomes due
and payable; or

    

    (ii)           Breach
by the Company of any material provisions of any agreement between the Company
and the Holder; or

    

    (iii)           The
Company shall file a voluntary petition in bank­ruptcy or any petition or
answer seeking for itself any reorganization, readjustment, arrangement,
composition or similar relief; or shall commence a voluntary case under the
federal bankruptcy laws; or shall admit in writing its insolvency or its
inability to pay its debts as they become due; or shall make an assignment for
the benefit of creditors; or shall apply for, consent to, or acquiesce in the
appointment of, or the taking of possession by, a trustee, receiver, custodian
or similar official or agent of the Company or of substantially all of its
property and shall not be discharged within ninety (90) days; or a petition
seeking reorganization, readjustment, arrangement, composition or other similar
relief as to the Company under the federal bankruptcy laws or any similar law
for the relief of debtors shall be brought against the Company and shall be
consented to by it or shall remain undismissed for ninety (90)
days.

    

    6.2 Consequence of
Default.  Upon the occurrence of any Event of Default, the
Holder shall be held in a first credit position on the entire amount due on this
Note, and, this Note shall immediately become due and payable upon written
notice from the Holder, and, from the time of the Company’s receipt of such
written notice until this Note shall be paid in full, the unpaid outstanding
principal balance of this Note shall bear interest at the rate of ten percent
(10%) per annum or the legal rate of interest, whichever is lower, (calculated
on the basis of a three hundred sixty-five (365) day year for the actual number
of days elapsed) (the “Default
Rate”).  Moreover, after the occurrence of any such Event of
Default, the Holder may proceed to protect and enforce its rights, at law, in
equity or otherwise, against the Company.

     

    6.3 Payment of Costs and
Expenses.  In the event that this Note is placed in the hands
of any attorney for collection, or any suit or proceeding is brought for the
recovery or protection of the indebtedness hereunder, then and in any such
events, the Company shall pay on demand all reasonable costs and expenses of
such suit or proceedings incurred by the Holder, including a reasonable
attorneys' fee.

     

    7. Miscellaneous.

     

    7.1 Delay.  No
extension of time for payment of any amount owing hereunder shall affect the
liability of the Company for payment of the indebtedness evidenced
hereby.  No delay by the Holder or any holder hereof in exercising any
power or right hereunder shall operate as a waiver of any power or right
hereunder.

     

    7.2 Waiver and
Amendment.  No waiver or modification of the terms of this Note
shall be valid without the written consent of the Holder.

     

    7.3 Governing
Law.  This Note shall be governed by and construed in
accordance with the laws of the State of California as applied to contracts
entered into between California residents wholly to be performed in California,
without regard to conflict of law principles of such State.

     

    7.4 Severability.  In
case any provision contained herein (or part thereof) shall for any reason be
held to be invalid, illegal, or unenforceable in any respect, such invalidity,
illegality, or other unenforceability shall not affect any other provision (or
the remaining part of the affected provision) hereof, but this Note shall be
construed as if such invalid, illegal, or unenforceable provision (or part
thereof) had never been contained herein, but only to the extent that such
provision is invalid, illegal, or unenforceable.

     

    7.5 Notice.  All
notices and other communica­tions among the parties shall be in writing and
shall be deemed to have been duly given when (i) delivered in person, or (ii)
five (5) days after posting in the U.S. mail as registered mail or certified
mail, return receipt re­quest­ed, or (iii) delivered by telecopier and
promptly confirmed by delivery in person or post as aforesaid in each case, with
postage prepaid, addressed as follows:

     

    If to the
Company, to:

    

    Catalyst
Lighting Group Inc.

    

    Attention: President

    Fax:

     
 

    If to the
Holder, to:

    

    Woodman Management
Corporation

    

    Attention: CFO

    Fax:

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed and
delivered by its authorized officer as of the date first above
written.

    

    

    CATALYST LIGHTING GROUP INC.,
a Delaware corporation

    

    

    By:         /s/ ERIC
STOPPENHAGEN                                                                

    Name:              Eric
Stoppenhagen

    Title:              Interim
President

    

    

    

    ACKNOWLEDGED:

    

    

    WOODMAN
MANAGEMENT CORPORATION

    

    

    By:         /s/ DAVID
WEINER                                                                           

    Name:              David
Weiner

    Title:              President

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