Document:

exhibitpromnote10.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    PROMISSORY
      NOTE

    

    

    June
      28,
      2007                                                                                    $150,000.00

    Cary,
      North Carolina

    

    

    FOR
      VALUE RECEIVED, CICERO, INC., a Delaware corporation, with the address
      of 8000 Regency Parkway, Suite 542, Cary, North Carolina 27518 (hereafter,
      the
“Maker”) promises to pay to the order of John L. Steffens, 765 East 55th Street,
      33rd Floor,
      New York,
      NY 10022, or at such place as the Lender may designate and notify the Maker,
      without grace except as expressly provided herein, in lawful money of the United
      States of America, which shall at the time of payment be legal tender in payment
      of  all debts and dues, public and private, One hundred fifty thousand
      and NO/100 Dollars ($150,000), together with simple interest accruing daily
      for
      the actual number of days elapsed (including the first but not the last) at
      1/365th of the
      annual rate of interest stated below subject to adjustment as provided
      below:

    

    INTEREST
      RATE. Interest shall accrue on the daily, unpaid principal balance from
      the date hereof until paid in full at six percent (6%) per annum rate of
      interest.

    

    PAYMENTS.
      All amounts payable hereunder shall be due and payable as follows:

    

    Optional
      prepayments may be made by the Maker in whole or in part at any time and from
      time to time without premium or penalty. The principal balance and all accrued
      interest thereon is due and payable in one (1) payment due on June 30,
      2008.

    

    INTEREST
      AND CHANGES. The only charge imposed by the Lender for the use of the
      money in connection with the loan evidenced by this note is and shall be the
      interest expressed in this note, at the rate set forth in this note which rate
      of interest at the date hereof expressed in simple interest terms is six percent
      (6%) per annum.

    

    DEFAULT.
      The maker will be in default if any one or more of the following occur (each
      an
“Event of Default”):

    

    
      	
              1.  

            	
              the
                Maker failed to make payment on time or in the amount due, which
                failure
                continues uncured ten (10) days after Maker’s receipt of written notice
                from the Lender specifying such failure;
                or

            

    

    

    
      	
              2.  

            	
              the
                Maker goes into bankruptcy, whether through the Maker’s own choice or not,
                or makes an assignment for the benefit of creditors, or admits his
                inability to pay his debts as they become
                due.

            

    

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    REMEDIES.
      If an Event of Default occurs, the Lender has the following
      remedies:

    

    
      	
              1.  

            	
              the
                Lender may, without further notice, accelerate the due date on this
                Note
                and all unpaid principal, interest, and all other charges immediately
                shall be due and payable;

            

    

    

    
      	
              2.  

            	
              the
                Lender may demand additional security or that new parties become
                obligated
                to pay this note;

            

    

    

    
      	
              3.  

            	
              the
                Lender may make use of any remedy the Lender has under state or federal
                law; and

            

    

    

    
      	
              4.  

            	
              the
                Lender may make use of any remedy given to the Lender in any agreement
                securing or entered into in connection with this
                Note.

            

    

    

    By
      selecting any one or more of these remedies the Lender does not give up his
      right to later use any other remedy. By deciding not to use any remedy should
      the Maker default, the Lender does not waive his right to later consider the
      event an Event of Default if it happens again.

    

    WAIVER.
      The Maker gives up his rights to require the Lender to do certain things. The
      Maker will not require the Lender to:

    

    
      	
              (1)  

            	
              except
                as expressly provided in this Note, demand payment of amounts due
                (presentation);

            

    

    

    
      	
              (2)  

            	
              obtain
                official certification of nonpayment (protest);
                or

            

    

    

    
      	
              (3)  

            	
              except
                as expressly provided in this Note, give notice that the amounts
                due have
                not been paid (notice of dishonor).

            

    

    

    ATTORNEYS’
      FEES. If the Maker defaults, the Maker will pay all of Lender’s
      reasonable expenses in the collection of this Note including reasonable,
      documented attorney’s fees actually incurred by the Lender, if this Note is
      collected by law or through an attorney at law.

    

    INVESTMENT
      INTEREST. By accepting this Note, the Lender represents and warrants
      that the Lender is acquiring this Note for the Lender’s own account for
      investment and not for distribution in any manner that would violate applicable
      securities laws, but without prejudice to the Lender’s right in the future to
      dispose of this Note or to foreclose on the collateral securing this Note,
      in
      accordance with such laws.

    

    APPLICABLE
      LAW. This note shall be governed by and construed under the internal
      laws of the State of North Carolina.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    NOTICE.
      Time is of the essence of this Note. All notices and other communications
      hereunder shall be in writing. Notices in writing shall be delivered personally
      or be sent certified or registered mail, postage pre-paid, or by overnight
      courier, or facsimile transmission and shall be deemed received when actually
      received by the addressee or, if sooner, in the case of personal delivery,
      when
      delivered, in the case of mailing, when receipted for, in the case of overnight
      delivery, on the next business day after delivery to the courier, and in the
      case of facsimile transmission, upon transmittal if during regular business
      hours at the destination or at the open of the next business day, provided
      that
      in the case of notices to the Lender, notice shall be deemed to have been given
      only when such notice is actually received by the Lender. Notices to either
      party shall be sent to it at the address set forth below, or any other address
      of which such party notifies all the other parties in writing.

    

    If
      to
      Maker:                           Cicero,
      Inc.

    8000
      Regency Parkway

    Cary,
      North Carolina
      27518

    Attn:
      John Broderick

    Fax:
      (919) 380-5121

    

    If
      to
      Lender:                          John
      L. Steffens

    65
      East 55th Street,
      33rd Floor

    New
      York, NY 10022

    

    

    IN
      WITNESS WHEREOF, the undersigned has executed, sealed and delivered
      this Note as of the date hereof.

    

    

    CICERO,
      INC.

    

    

    

    ____________________________________

    John
      Broderick

    Chief
      Executive and Chief Financial
      Officer

    

    
      
         

      

      
        3Unassociated Document

    Exhibit
      10.2.4

     

    
      FOURTH
        EXTENSION OF EMPLOYMENT AGREEMENT

       

       

      This
        Agreement (this “Extension Agreement”) is dated the 9th day of August, 2007 by
        and between Tekni-Plex, Inc., a Delaware corporation (the “Employer”), having
        its principal offices at 201 Industrial Parkway, Somerville, NJ 08876, and
        F.
        Patrick Smith, an individual (the “Executive”), residing at 8601 Riviera Court,
        Tour 18, Flower Mound, TX 75022.

       

      W
        I T N E
        S S E T H:

      

      WHEREAS,
        Executive has been continuously employed by Employer since March 18, 1994
        and
        Executive and Employer desire that Executive continue in his role as the
        Chairman of the Board of Directors and Chief Executive Officer of Employer,
        upon
        the terms and conditions herein set forth;

       

      WHEREAS,
        on January 30, 1997 Employer and Executive entered into an employment agreement
        which superseded and replaced in its entirety the prior employment agreement
        between the Employer and Executive dated March 18, 1994 (as amended, the
“Prior
        Agreement”);

       

      WHEREAS,
        on March 2, 1998 Employer and Executive entered into Amendment Number 1 to
        the
        employment agreement dated as of January 30, 1997 (as amended, the “Original
        Agreement”);

       

      WHEREAS,
        on June 21, 2000 Employer and Executive entered into an amended and restated
        employment agreement amending the terms of and restating the prior Original
        Agreement (as amended, the “Amended and Restated Employment Agreement”) in
        connection with the recapitalization of Employer pursuant to the
        Recapitalization Agreement dated as of April 12, 2000 among Employer and
        other
        parties thereto;

       

      WHEREAS,
        in connection with the issuance by Employer of Series A Preferred Stock under
        the Preferred Stock Purchase Agreement dated May 13, 2005, Employer and
        Executive entered into a second amended and restated employment agreement
        amending the terms of and restating the prior Amended and Restated Employment
        Agreement (as amended, the “Second Amended and Restated Employment
        Agreement”);

       

      WHEREAS,
        the expiration date of the Second Amended and Restated Employment Agreement
        was
        extended several times and it is currently scheduled to expire on August
        9,
        2007; and

       

      WHEREAS,
        on the date hereof, Employer and Executive each desires to extend the term
        of
        the existing Second Amended and Restated Employment Agreement;

       

      NOW,
        THEREFORE, in consideration of the foregoing and of the mutual covenants
        contained in this Extension Agreement, Employer and Executive, intending
        to be
        legally bound, hereby agree as follows:

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      1.           The
        Second Amended and Restated Employment Agreement shall remain in effect with
        its
        existing terms and conditions until September 30, 2007.

       

      2.           This
        Extension Agreement may be executed in counterparts, each of which shall
        be
        deemed to be an original, but all of which, when taken together, shall
        constitute one and the same instrument.

       

      

       

      IN
        WITNESS
        WHEREOF, the parties hereto have caused this Extension Agreement to be executed
        as of the day and year first above written.

       

      
        	 	Tekni-Plex,
                Inc.
	 	 	 
	 	 	 
	 	By:	
                                /s/
                  James E. Condon

              
	 	 	
                James
                  E.
                  Condon

              
	 	 	
                Chief
                  Financial
                  Officer

              
	 	 	 
	 	 	 
	 	Executive:
	 	 	 
	 	 	 
	 	              
                /s/ F. Patrick Smith
	 	F.
                Patrick Smith

      

      

      

      

      Agreed
        and
        Accepted:

      

      

        /s/
        Michael F.
        Cronin                                                                           

      Preferred
        Stock Designee

       

       

      2

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