Document:

exh10-1_091708.htm

    Exhibit
10.1

    PURCHASE
AGREEMENT

    

    

    This
Purchase Agreement (“Agreement”), dated as of September 17, 2008, is by and
between Netcom Data Corp.,
a Georgia corporation (“Buyer”), and Net Com Data Corp of N.Y.,
a New York corporation (“NCNY”) and American Timeshare Associates,
Inc., a New York corporation (“ATA;” ATA and NCNY to be collectively
referred to as “Sellers”).

    

    RECITALS:

    

    WHEREAS,
NCNY is a party to an Independent Sales Organization Agreement dated on or about
May 2, 1997, with Michigan National Bank (“MNB”), which agreement has been
amended from time to time and provides for customers of Seller to utilize the
merchant processing services offered by MNB and marketing of MNB’s merchant
processing services by Seller to prospective customers (the “Seller Bank
Agreement”); and

    

    WHEREAS,
NCNY previously assigned a portion of its rights in and to the Seller Bank
Agreement to ATA; and

    

    WHEREAS,
Buyer entered into an Independent Sales Organization Agreement with MNB on or
about February 2, 1995, which agreement has been amended from time to time
and provides for customers of Buyer to utilize the merchant processing services
offered by MNB and marketing of MNB’s merchant banking services by Buyer to
prospective customers (“Buyer Bank Agreement”); and

    

    WHEREAS,
LaSalle Bank, N.A. (“Bank”) is the successor to MNB and was subsequently
acquired by Bank of America Corporation.  Bank now offers merchant
processing services through LaSalle Merchant Services, LLC, a Bank of America
affiliate, and has requested the termination of many services currently provided
by Buyer and NCNY under the Seller Bank Agreement and the Buyer Bank Agreement;
and

    

    WHEREAS,
pursuant to this Agreement, at the Closing (as defined below), Sellers will
assign all of their rights and obligations under the Seller Bank Agreement to
Buyer and Buyer will purchase such rights and assume such obligations pursuant
to the provisions of this Agreement and, contemporaneously therewith, the Buyer
Bank Agreement and the Seller Bank Agreement will be consolidated and modified
by a Service Agreement to be executed by Buyer and Bank on or before the Closing
(“New Service Agreement”), pursuant to which Buyer will perform certain services
currently provided by NCNY under the Seller Bank Agreement and will receive all
payments due from LaSalle Bank, N.A., its successors and assigns, under the
Seller Bank Agreement as modified by the New Service Agreement.

    

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

    

    1.           Purchase and
Sale.  On the date of the Closing (“Closing Date”), the Sellers
shall sell and the Buyer shall buy all of Sellers’ rights and obligations under
the Seller Bank Agreement, as modified by the New Service Agreement (“Assigned
Rights”), and Buyer shall accept such assignment and by its execution of the New
Service Agreement will assume all obligations of

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Sellers
under the Seller Bank Agreement, as modified by the New Service Agreement
(“Assumed Obligations”).  The Assigned Rights will be transferred by
Sellers to Buyer free of all liens, claims, interests, or
encumbrances.

    

    2.           Purchase
Price.  The purchase price (“Purchase Price”) will equal
$2,275,000.00, in cash, plus 3,200,000 shares of United eSystems, Inc.
(“United”) Common Stock (“United Stock”), subject to adjustment and payable as
follows:  (a) $2,000,000.00 in cash (“Closing Payment”), payable
by wire transfer within five (5) business days following the Closing; and
(b) 2,850,000 shares of United Stock (“Closing Stock”) to be issued to
Sellers within five (5) business days following the Closing.  Within
five (5) business days after the Closing, Buyer will wire transfer an additional
$250,000.00 (“Escrow Payment”) to Berenbaum, Weinshienk & Eason, P.C.
(“Escrow Agent”), to be held in escrow pursuant to the provisions of this
Agreement and will deliver to the Escrow Agent two certificates for 175,000
shares of United Stock each (“Escrow Stock”), issued in the name of
Sellers.  The money and stock held in escrow by the Escrow Agent will
be held pursuant to the terms of an escrow agreement (“Earn Out Escrow
Agreement”) executed contemporaneously herewith.  Buyer will be
entitled to receive the entire payment from the Bank under the Seller Bank
Agreement that is payable on or about September 20, 2008 and the entire amount
of all subsequent payments even though all or a portion of such payment(s) is or
may be attributable to a time prior to Closing.  Within five (5)
business days after Buyer receives the September 20, 2008 payment, Buyer will
pay Seller $25,000 (“$25,000 Payment”) of the cash Purchase
Price.  The Closing Payment, Closing Stock, $25,000 Payment, Escrow
Payment and Escrow Stock will be allocated 10% to NCNY and 90% to
ATA.

    

    3.           Earn Out and Escrow
Release.  For purposes of this Section 3, the term “Base”
will mean $109,613.00 (derived from Sellers’ Compensation Report for April 2008
from Bank of America); the term “Excluded Amount” will equal $5,480.00; and the
term “Net Revenue” will mean the revenue Buyer receives under the Service
Agreement that was attributable to the accounts under the Seller Bank
Agreement.  For the six (6) month period commencing on the Closing
Date, Buyer will compute the average monthly Net Revenue and add to that amount
any cancellation fees that are collected in connection with contracts that are
cancelled during such 6-month period and were subject to the Bank Service
Agreement, in each case divided by the remaining number of months for each such
cancelled contract.  This result, the Adjusted Net Monthly Revenue
will be compared with the Base.  If the difference (“Difference”)
exceeds the Excluded Amount, the six (6) month adjustment to the cash portion
(“Cash Adjustment”) of the purchase price will be computed by multiplying the
Difference by six (6) (annualizing by multiplying by 12 and dividing by 2 to
adjust for the cash portion only).  The Cash Adjustment will be
deduced from $125,000.00 (one-half of the cash held in escrow), and any
resulting positive balance will be paid to Sellers by the Escrow Agent, with the
Cash Adjustment to be paid by the Escrow Agent to Buyer.  In addition,
the number of shares which will be returned to United at the end of such six (6)
months (“Stock Adjustment”) will be determined by multiplying 175,000 shares by
the Cash Adjustment for such six (6) months and dividing the result by
$125,000.00.  If there is a Stock Adjustment, a certificate for
175,000 shares will be returned to United by the Escrow Agent and United will
issue Sellers for such six (6) months a number of shares equal to 175,000 shares
less the Stock Adjustment, with United retaining the Stock Adjustment portion of
such shares.

    

    For
the six (6) month period commencing six months after the Closing Date, the Cash
Adjustment and the Stock Adjustment will be similarly be computed and the amount
of cash and stock held in escrow will be divided between Buyer (or United with
respect to the Escrow Stock) and Sellers

    

    
      
        
           

        

        
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    in
accordance with the same formula provided for above.  The Escrow Agent
will deposit the cash held in escrow in a bank account mutually agreed to by
Buyer and Sellers, and any interest earned on the funds held in deposit will be
divided in the same proportion as the cash is paid out of
escrow.  After the end of the second twelve (12) month period, the
Purchase Price will be adjusted to reflect the total amounts of cash and United
Stock paid to Sellers at the Closing and released to Sellers from escrow
(excluding any portion of cash that was for interest earned).

    

    4.           Assumption of
Liabilities.  The Buyer (by its execution of the New Service
Agreement) will fully and unconditionally assume the liabilities of NCNY under
the Service Agreement and will not assume or be responsible for any other
liabilities of either or both Sellers.

    

    5.           Representations, Warranties,
and Covenants of Sellers.  The Sellers represent, warrant, and
covenant to Buyer that:

    

    (a)           Organization and
Standing.  Each Seller is a corporation duly organized, validly
existing, and in good standing under the laws of the State of New York, and is
duly qualified to conduct business as a foreign corporation in each state where
the failure to qualify would have a material adverse effect on such
Seller.  Each Seller has full power and authority to own and hold its
assets and to conduct its business as now conducted.

    

    (b)           Authorization; Binding
Agreement.  All necessary corporate actions to approve the
execution, delivery, and performance of this Agreement and the consummation of
the transactions contemplated hereby have been taken by Sellers.  This
Agreement and the other agreements and documents executed and delivered by
Sellers pursuant to the terms thereof constitute the valid and binding
obligations of Sellers, enforceable against Sellers in accordance with their
terms.

    

    (c)           License, Permits, and
Approvals.  No licenses, permits, or approvals are required
from any federal, state, or local governmental or administrative authority or
other agency or a party to any contract with a Seller for either or both Sellers
to enter into and perform their obligations under this Agreement or for Buyer to
become a party to and perform its obligations under the Service
Agreement.  Sellers currently are and in the past have been in
compliance with the rules, regulations, and requirements of all applicable
governmental and private regulatory agencies.

    

    (d)           Financial
Information.  The Sellers have delivered to Buyer Compensation
Detail Reports (“Compensation Reports”) for the months from March 2007 through
July 2008, reflecting revenues received and costs incurred by Sellers in
connection with performance under the Seller Bank Agreement for the periods
represented thereby.  Such Compensation Reports are true, correct, and
complete in all material respects, fairly present the net revenues and costs for
the periods covered thereby, and are in accordance with the books and records of
Sellers.

    

    (e)           Service
Agreement.  Sellers hold all rights in and to the Seller Bank
Agreement free and clear of all liens, encumbrances, security interests, and
other interests of any kind whatsoever.  Upon Sellers’ execution and
delivery of an Assignment assigning all of their rights under the Seller Bank
Agreement and the Service Agreement to Buyer, the Buyer will have all right,
title, and interest in and to the Sellers’ rights under the Seller Bank
Agreement and the Service Agreement, free and clear of all liens, security
interests, encumbrances, and other interests of any kind
whatsoever.  Sellers have full power and authority to transfer the
Assigned Rights to Buyer without obtaining any

    

    
      
        
           

        

        
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    consents
or approvals from any other entity or person other than Bank.  Sellers
do not have any liabilities, fixed or contingent, known or unknown, liquidated
or accrued, primary or secondary, by agreement or operation of law, including,
without limitation, liabilities for federal, state, and local taxes or
liabilities to customers or suppliers that could adversely affect or result in a
lien, encumbrance, or claim against the Assigned Rights.

    

    (f)           Litigation.  No
judgment, order, writ, injunction, decree, or arbitration award is issued or
outstanding against or affecting a Seller and no litigation, action,
arbitration, special assessment, charge, lien, suit, judgment, proceeding,
inquiry, or investigation is pending or outstanding before any forum, court, or
governmental body, department, or agency of any kind or, to the best of Sellers’
knowledge, is threatened to which a Seller is a party or which effects the
Assigned Rights and Sellers do not know of any reason for any such claim,
litigation, action, special assessment, charge, lien, suit, judgment,
proceeding, or investigation.

    

    (g)           Insolvency.  No
insolvency proceeding of any character, including, without limitation,
bankruptcy, receivership, reorganization, composition, or arrangement with
creditors, voluntary or involuntary, affecting a Seller or any of the Assigned
Rights is pending or threatened.  No Seller has taken any action in
contemplation of, or which constitutes the basis for institution of, any
insolvency proceedings.

    

    (h)           Absence of
Restrictions.  No Seller is a party to any contact, agreement,
or other instrument which restricts, limits, or in any way adversely affects any
aspect of Sellers’ performance of this Agreement and any other agreements
executed and delivered by a Seller hereunder or the transactions contemplated
hereby.  The execution, delivery, and performance of this Agreement
and the other agreements executed and delivered by Sellers hereunder and the
transactions contemplated hereby by Sellers will not conflict with, or result in
the termination or breach of any term, provision, or condition of, or constitute
a default under the Articles of Incorporation or Bylaws of a Seller or any
contract, lease, agreement, or other instrument or condition to which a Seller
is bound.  Sellers’ performance of this Agreement and the other
agreements executed and delivered by Sellers hereunder will not violate any law,
regulation, or judgment to which a Seller is subject.

    

    (i)           Investment Intent;
Restricted Securities.  Each Seller is acquiring the United
Stock for its own account for investment and not with a view to, or for sale in
connection with, any distribution of any thereof and with no present intention
of disposing of any thereof.  Each Seller acknowledges that such
securities have not been registered under the Securities Act of 1933, as amended
(“Securities Act”) or qualified under applicable state securities laws and
confirms to the Buyer and United that it understands the restrictions on resale
of such securities imposed by such laws including Rule 144 promulgated under the
Securities Act and that such securities may only be sold in limited
circumstances.  Each Seller acknowledges and agrees that the
representations, warranties and agreements contained herein relating to the
United Stock are for the benefit of United and United is entitled to enforce
such provisions.

    

    (j)           Transfer Without
Registration.  Notwithstanding the provisions of subsection
(i), a Seller may transfer such securities in compliance with the provisions of
the Securities Act (including Rule 144 promulgated thereunder) and any
applicable provision of state law.  Prior to any transfer of such
securities otherwise than in an offering registered under the Securities Act, a
Seller will notify United of its intention to effect such transfer, indicating
the circumstances of the proposed

    

    
      
        
           

        

        
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    transfer
and furnish United with an opinion of its counsel, in form and substance
reasonably satisfactory to counsel for United, to the effect that the proposed
transfer may be made without registration under the Securities Act or
qualification under any applicable state securities laws.  United will
promptly notify a Seller if the opinion of counsel furnished to United is
satisfactory to counsel for United.

    

    (k)           Legend.  Each
Seller understands that United will place the following legend and any other
legend required by law on the certificates representing the United
Stock:

    

    THE
SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 OR ANY APPLICABLE STATE LAW, AND NO INTEREST THEREIN MAY
BE SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH
REGISTRATION AND QUALIFICATION WITHOUT AN OPINION OF LEGAL COUNSEL THAT SUCH
REGISTRATION AND QUALIFICATION ARE NOT REQUIRED.

    

    United
shall, upon the request of any holder of a stock certificate bearing the
foregoing legend and the surrender of such certificate, issue a new stock
certificate without the foregoing legend if (i) the stock evidenced by such
certificate has been effectively registered under the Securities Act and sold by
the holder thereof in accordance with such registration, or (ii) such holder
shall have delivered to the Company a written legal opinion acceptable to the
Company to the effect that the restrictions set forth herein are no longer
required or necessary under any federal or state law or regulation.

    

    (l)           Experience.  Each
Seller is an accredited investor under the Securities Act.  Each
Seller has such knowledge and experience in financial and business matters that
it is capable of evaluating the risks of its investment in securities of United
and is able to bear the economic risks of such investment.  Each
Seller is aware that United has filed current reports and other filings with the
Securities and Exchange Commission and acknowledges that it has access to and
has had the opportunity to review such reports and filings.  Each
Seller believes it has received all information it considers necessary or
appropriate for deciding whether to accept the United Stock.  Each
Seller has had an opportunity to ask questions and receive answers from officers
of United regarding this investment and believes it has made an informed
judgment with respect to its investment in securities of United.

    

    (m)           Disclosure.  The
Sellers have made full written disclosure of all material facts pertaining to
the Assigned Rights, including, without limitation, the Seller Bank Agreement
and Service Agreement.  There are no facts known to Sellers which
(individually or in the aggregate) could have or would have a material adverse
effect upon Buyer’s performance and receipt of benefits under the Service
Agreement which have not otherwise been disclosed in writing to
Buyer.

    

    6.           Buyer’s Representations,
Warranties, and Agreements.  The Buyer represents and warrants
to Sellers that:

    

    (a)           Organization and
Standing.  The Buyer is a corporation duly organized, validly
existing, and in good standing under the laws of the State of
Georgia.  The Buyer has full

    

    
      
        
           

        

        
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    power
and authority to purchase the Assigned Rights and to be a party to and perform
under this Agreement and the Service Agreement, except where the failure to have
such power and authority would not have a material adverse effect on the
financial condition, liabilities, or assets of the Buyer.

    

    (b)           Authorization.  All
necessary corporate action to duly approve the execution, delivery, and
performance of this Agreement and the consummation of the transactions
contemplated hereby have been taken by Buyer.  This Agreement and the
other agreements executed and delivered by Buyer hereunder constitute the valid
and binding obligations of Buyer, enforceable against Buyer in accordance with
their terms.

    

    (c)           United
Stock.  The Closing Stock when delivered at the Closing will be
validly issued, fully paid and non-assessable and the Escrow Stock to which
Sellers become entitled under the provisions of this Agreement and the Earn Out
Escrow Agreement will upon issuance to Sellers be validly issued, fully paid and
non-assessable.  As of May 14, 2008, 18,291,667 shares of United’s
common stock, $0.001 par value, were issued and outstanding.  In
addition, United has shares reserved for issuance as described in its reports
and filings with the Securities and Exchange Commission, and United will issue
7,800,000 shares of its common stock to the stockholders of Buyer prior to or
contemporaneously with the Closing.

    

    (d)           Absence of
Restrictions.  The Buyer is not a party to any contact,
agreement, or other instrument which restricts, limits, or in any adversely
affects any aspect of the Buyer’s performance of this Agreement and any other
agreements executed and delivered by Buyer hereunder or the transactions
contemplated hereby.  The execution, delivery, and performance of this
Agreement and the other agreements executed and delivered by Buyer hereunder and
the transactions contemplated hereby by Buyer do not conflict with, or result in
the termination or breach of any term, provision, or condition of, or constitute
a default under the Articles of Incorporation or Bylaws of Buyer or any
contract, lease, agreement, or other instrument or condition to which Buyer is
bound.  Buyer’s performance of this Agreement and the other agreements
executed and delivered by Buyer hereunder will not violate any law, regulation,
or judgment to which Buyer is subject.

    

    7.           Conditions Precedent to
Buyer’s Obligations at Closing.  The obligations of Buyer to
consummate the transactions contemplated herby in connection with the Closing is
subject to the fulfillment of each of the conditions set forth
below.  The Buyer may, in its sole discretion, waive the performance
of such conditions.  Any such waiver shall only be valid if it is in
writing.  The giving of such waiver shall not preclude a claim for the
breach of any applicable representation or warranty.

    

    (a)           Representation and
Warranties.  The representations and warranties of the Sellers
shall be true and correct on the date of this Agreement and on the Closing Date,
and the Sellers shall have furnished Buyer with a certificate to that
effect.

    

    (b)           Performance of
Covenants.  The Sellers shall have performed and complied with
all covenants, agreements, and conditions of this Agreement to be performed
prior to or on the Closing Date, and Sellers shall have furnished Buyer a
certificate to that effect.

     

    (c)           Certified
Resolution.  Each Seller shall have delivered to the Buyer
certified copies of the resolutions of its directors and shareholders in form
and substance satisfactory to Buyer with respect to the authorization of this
Agreement and the transactions referred to herein.

    

      
        
           

        

        
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    (d)           Service
Agreement.  The Bank shall have executed the New Service
agreement upon terms acceptable to Buyer.

    

    (e)           United Purchase of
Buyer.  Prior to or contemporaneously with the Closing, United
shall have consummated its purchase of all of the outstanding stock of
Buyer.

    

    (f)           Due
Diligence.  The Buyer shall have completed its due diligence
investigation of Sellers, the Seller Bank Agreement, and the Service Agreement
to its satisfaction.

    

    (g)           Approval of
Documents.  The form and substance of all certificates,
instruments, and other documents delivered to the Buyer under this Agreement
shall be reasonably satisfactory in all respects to Buyer and its
counsel.

    

    (h)           Approvals and
Consents.  All necessary consents to the assignment, transfer,
and assumption of the Service Agreement shall have been obtained upon terms
satisfactory to Buyer.

    

    (i)           Satisfactory
Proceedings.  All proceedings to be taken in connection with
the consummation of the transactions contemplated hereby shall be reasonably
satisfactory to Buyer and its counsel.

    

    8.           Conditions Precedent to
Seller’s Obligations at Closing.  The obligations of the
Sellers to consummate the transactions contemplated hereby in connection with
the Closing shall be subject to the fulfillment of each of the conditions set
forth below prior to the Closing Date.  The Sellers may, in their sole
discretion, waive the performance of such conditions.  Any such waiver
shall only be valid if it is in writing.  The giving of such waiver
shall not preclude a claim for breach of any applicable representation and
warranty:

    

    (a)           Representation and
Warranties.  The representations and warranties of the Buyer
shall be true and correct on and as of the Closing Date with the same effect as
though such representations and warranties had been made on and as of the
Closing Date, and Buyer shall have furnished Sellers a certificate to that
effect.

    

    (b)           Performance of
Covenants.  The Buyer shall have, in all material respects,
performed and complied with all covenants, agreements, and conditions required
by this Agreement to be performed or complied with by it prior to or on the
Closing Date, and Buyer shall have furnished Sellers a certificate to that
effect.

    

    (c)           Certified
Resolution.  The Buyer shall have delivered to the Sellers
certified copies of the resolutions of its directors and resolutions of the
directors of United, which shall be in form and substance reasonably
satisfactory to the Sellers with respect to the authorization of this Agreement,
the issuance of the United Stock contemplated hereby, and the transactions
referred to herein.

    

    (d)           United Purchase of
Buyer.  Prior to or contemporaneously with the Closing, United
shall have consummated its purchase of all of the outstanding stock of
Buyer.

    

    
      
        
           

        

        
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    (e)           Approval of
Documents.  The form and substance of all certificates,
instruments, and other documents delivered to the Sellers under this Agreement
shall be reasonably satisfactory in all respects to the Sellers and their
counsel.

    

    (f)           Satisfactory
Proceedings.  All proceedings to be taken in connection with
the consummation of the transactions contemplated hereby shall be reasonably
satisfactory to Sellers and their counsel.

    

    9.           Closing.  The
Closing of the transactions contemplated by this Agreement (“Closing”) will
occur upon satisfaction or waiver of the conditions to Buyer’s and Sellers’
obligations to be performed at Closing; provided that if such conditions have
not been satisfied or waived by 5:00 P.M. Eastern Time on September 26, 2008,
and the parties have not mutually agreed to extend such date (provided that if
one party is in default under this Agreement and the other party is not, the
non-defaulting party shall have the right to extend such date), this Agreement
will terminate, and the parties will have no further obligations
hereunder.  It is contemplated that the Buyer and Sellers will enter
into an Escrow Agreement (“Closing Escrow Agreement”) prior to Closing and will
deposit all documents and deposit the Closing Payment and Closing Stock in
escrow, in which event the Closing will occur when Buyer and Seller (or their
respective counsel) have each acknowledged in writing that the conditions to
their respective obligations have been satisfied or waived.

    

    10.           Buyer’s
Deliveries.  At the Closing, Buyer will execute, acknowledge,
and deliver the following:

    

    (a)           A
certificate as to its representations and warranties and as to its performance
as provided in Sections 8(a) and (b).

    

    (b)           Certified
resolutions as provided in Section 8(c).

    

    (c)           The
Service Agreement executed by Buyer.

    

    (d)           The
Earn Out Escrow Agreement executed by Buyer.

    

    (e)           The
Closing Payment.

    

    (f)           The
Closing Stock.

    

    (g)           At
the Closing, or within five (5) days thereafter, Buyer will wire transfer the
Escrow Payment to the Escrow Agent and deliver to the Escrow Agent certificates
representing the Escrow Stock.

    

    11.           Sellers’
Deliveries.  At the Closing, the Sellers shall execute,
acknowledge, and deliver (as appropriate), the following:

    

    (a)           An
Assignment assigning all of their rights under the Seller Bank Agreement and the
Service Agreement to Buyer.

    

    
      
        
           

        

        
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    (b)           A
certificate as to their representations and warranties and their performance as
provided in Section 7(a) and (b).

    

    (c)           Certified
resolutions of each Seller as provided in Section 7(c).

    

    (d)           The
Earn Out Escrow Agreement executed by Seller.

    

    (e)           All
consents required in connection with the transfer of the Assigned Rights to
Buyer or Buyer’s assumption of the Assumed Obligations.

    

    12.           Covenants and Further
Agreements.

    

    (a)           Access to
Records.  Seller will provide the records for the largest 100
active accounts within 30 days after the Closing, and will provide the remaining
record as soon as reasonably practical, but not to exceed 90 days after the
Closing.  If Buyer requests information for a specific merchant for
which records have not yet been delivered, Seller agrees to provide that
information within 1 business day after Buyer’s request.

    

    (b)           Cooperation.  Buyer
and Sellers shall cooperate in consummating, as soon as reasonably possible, the
transactions contemplated by this Agreement and each will, at the request of the
other, join in taking any action that may be reasonably required in order to
consummate the transactions contemplated by this Agreement, including the
delivery of all documents and certificates contemplated by this Agreement or
reasonably requested by any party to this Agreement or counsel for such
party.

    

    (c)           Representations and
Warranties.  Prior to Closing, neither Buyer nor Sellers will
take any action that would in any way cause the representations and warranties
made by it under this Agreement to become untrue in any material
respect.

    

    (d)           Fulfillment of
Conditions.  Buyer and Sellers agree to proceed in good faith
to obtain performance of all conditions to Closing over which they exercise
discretion or control.

    

    (e)           Global
Payments.  Sellers hereby release Buyer from all obligations
related to Global Payments residual commissions, effective as of the Closing of
this Agreement.

    

    13.           Termination Prior to Closing
Without Liability.  This Agreement may be terminated prior to
the Closing without liability of any party (except to the extent a party
previously breached any representation, covenant, or condition) upon the
following circumstances:

    

    (a)           Mutual
Consent.  Termination by mutual consent evidenced by a written
document executed by the Buyer and the Sellers.

    

    (b)           Failure of Conditions
Precedent – Buyer’s Obligations. Termination by the Buyer evidenced by
written notice to the Sellers, on or before the Closing Date, if any of the
conditions
precedent to the Buyer’s obligations as set forth in Section 7 have not
been satisfied or waived by the Closing.

    

    
      
        
           

        

        
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    (c)           Failure of Conditions
Precedent – Seller’s Obligations.  Termination by Sellers,
evidenced by written notice to the Buyer on or before the Closing Date, if any
conditions precedent to the Sellers’ obligations as set forth in Section 8
have not been satisfied or waived by the Closing.

    

    14.           Default.

    

    (a)           Remedies.  If
any obligation under this Agreement is not performed as provided under the terms
of this Agreement, the parties shall have the remedies set forth below, in
addition to any other remedies available at law or in equity or specifically
provided for under any other provision of this Agreement.

    

    (b)           Buyer’s
Default.  In the event this Agreement is not terminated in
accordance with Section 15 and either (i) all of the conditions precedent
to the obligation of the Buyer set forth in Section 7 are satisfied and the
Buyer fails to consummate the Closing, or (ii) the Buyer defaults in the
performance of any material obligation to be performed by the Buyer hereunder
and if such default can be cured, does not cure such default within five (5)
days after notice from Sellers, the Sellers may elect to treat this Agreement as
terminated and may recover such damages as may be proper.

    

    (c)           Sellers’
Default.  If this Agreement is not terminated in accordance
with Section 15 and either (i) all of the conditions precedent to the
obligations of the Sellers set forth in Section 8 are satisfied and Sellers
fail to consummate the Closing or (ii) Sellers default in the performance of any
material obligation to be performed by Sellers hereunder and if such default can
be cured, fail to cure such default within five (5) days after notice from
Buyer, the Buyer may elect to treat this Agreement:

    

    (i)           as
terminated and the Buyer may recover such damages as may be proper,
or

    

    (ii)           as
being in full force and effect and the Buyer shall have a right to an action for
specific performance or damages, or both.

    

    15.           Indemnification by
Sellers.

    

    (a)           The
Sellers, jointly and severally agree to indemnify, defend, and hold the Buyer
harmless from and against:  (i) any loss or liability (including
attorneys’ fees) occasioned by, arising out of, or resulting from, operation of
either or both of the Sellers prior to the Closing including, but not limited
to, all obligations and liabilities of a Seller; and (ii) any and all loss,
liability, or deficiency (including attorneys’ fees) arising out of or resulting
from any misrepresentation, breach of warranty or covenant, or default or
non-fulfillment of any covenant or agreement on the part of the Sellers under
this Agreement, or any certificate, agreement, exhibit, schedule, or instrument
furnished to the Buyer pursuant to this Agreement or in connection with any of
the transactions contemplated hereby.

    

    (b)           The
Buyer shall notify the Sellers in writing promptly after the occurrence of any
event, or the discovery of any facts which in its opinion entitles or may
entitle it to

     

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

     

    indemnification
under this Section, provided that the failure to give such notice shall not
affect the liability of the Sellers under this Section except to the extent the
failure to give such notice adversely affected to a material degree its or their
ability to defend against a claim or to cure a default giving rise to a
claim.  With respect to a threatened or asserted claim by third
parties, the Buyer shall be entitled to undertake the defense, compromise, or
settlement of such claim at the expense of and for the account and risk of the
Sellers.  In no event may the Sellers, without the Buyer’s written
consent, settle or compromise any claim or consent (which consent will not
unreasonably be withheld) to the entry of any judgment which does not include as
an unconditional term thereof, the giving by the claimant or plaintiff to the
Buyer of a release of all liability in respect of such claim.

    

    (c)           In
addition to Buyer’s rights to indemnification, the Buyer shall have the right to
receive from any amounts that may still be held by the Escrow Agent and to
setoff against the $25,000 Payment the amount of any indemnification claim under
this Section.

    

    16.           Indemnification by
Buyer.

    

    (a)           The
Buyer hereby agrees to indemnify, defend and hold Sellers harmless from and
against:  any and all loss, liability, or deficiency (including
attorneys’ fees) arising out of or resulting from any misrepresentation, breach
of warranty or covenant, or default or non-fulfillment of any covenant or
agreement on the part of the Buyer under this Agreement, or any certificate,
agreement, exhibit, schedule, or instrument furnished to the Sellers pursuant to
this Agreement or in connection with any of the transactions contemplated
hereby.

    

    (b)           The
Sellers shall notify the Buyer in writing promptly after the occurrence of any
event, or the discovery of any facts which in its opinion entitles or may
entitle them to indemnification under this Section, provided that the failure to
give such notice shall not affect the liability of the Buyer under this
Section except to the extent the failure to give such notice adversely
affected to a material degree its ability to defend itself against a claim or to
cure a default giving rise to a claim.  In the case of a claim against
Sellers subject to Buyer’s indemnification obligations under this Section, in no
event may the Buyer, without the Sellers’ written consent (which consent will
not unreasonably be withheld), settle, compromise any claim, or consent to the
entry of any judgment which does not include as an unconditional term thereof,
the giving by the claimant or plaintiff to Sellers of a release of all liability
in respect to such claim.

    

    17.           Exclusive
Dealings.  The Sellers agree that, from the date hereof until
the Closing or earlier termination of this Agreement, neither of them will
directly or indirectly engage in discussions with, solicit interest from, or
negotiate with any other person or entity (or its intermediaries or
representatives) concerning a Transaction.  For purposes of the
foregoing, “Transaction” shall mean any form of acquisition of an interest in
the Seller Bank Agreement.  Sellers further agree that they
will:  (a) notify Buyer immediately of any inquiry or contact
regarding a Transaction initiated by any other entity or person;
(b) disclose to Buyer the substance of any such inquiry; and
(c) notify such entity or person that Sellers have entered into an
exclusive Purchase Agreement with Buyer.

    

    18.           Due
Diligence.  The Sellers will cooperate with Buyer in its due
diligence and furnish Buyer with copies of such records, contracts, and other
information as Buyer may reasonably request.  Each Seller will permit
Buyer to communicate with, and have access to, such Seller’s employees, vendors,
and other persons who have a business relationship with such
Seller.

    

    
      
         

      

      
        -11-

        
          

        

      

      
         

      

    

     

    19.           Finders, Consultants, and
Brokers.  The parties hereto hereby represent and warrant to
each other that there has been no finder, broker, or consultant involved in
negotiations leading up to the execution of this Agreement and no finder’s,
broker’s, or consultant’s fees or commissions are payable in connection with the
transactions contemplated hereby.

    

    20.           Other
Documents.  The parties shall execute such other documents as
may be necessary and desirable to the implementation and consummation of this
Agreement.

    

    21.           Survival of Covenants,
Representations, and Warranties.  All representations,
warranties, covenants, and agreements contained in this Agreement shall survive
the Closing Date notwithstanding any investigation made by or on behalf of the
parties hereto.

    

    22.           Notices.  Any
notice or other communication any party desires or is required to give to the
other under the terms of this Agreement shall be deemed to have been given or
delivered, when delivered in person or by facsimile transmission to the party
being notified or to an executive officer of a corporate party being notified or
shall be deemed to have been given or delivered:  (i) three (3)
business days after the same is deposited in the United States mail, registered
or certified, with proper postage prepaid, return receipt requested; or
(ii) one (1) business day after delivery to an overnight courier service
addressed to the party for whom intended at its address given below or to such
other address as a party may designate to the others by written notice given in
accordance with this Section.

    

    (a)        If
to the Sellers:     
      American Timeshare Associates,
Inc.

    Net Com Data Corp of N.Y.

    82 Roslyn Avenue

    Sea Cliff, NY 11579

    

    With
a copy
to:             Norman
Friedland, Esq.

    Phoenix Financial Center

    200 Adams Blvd

    Farmingdale, NY 11735

    

    (b)        If
to the Buyer:          
  United E-Systems, Inc.

    15431 O’Neal Road

    Gulfport,
Mississippi  39503

    Attn:  Reid
Green

    

    With
a copy
to:             Leon
L. Nowalsky, Esq.

    Nowalsky, Bronston, and Gothard,
APLLC

    3500 North Causeway Blvd., Ste.
1442

    Metairie, Louisiana 70002

    

    23.           Legal
Fees.  Each party shall bear its own legal fees and expenses in
connection with the preparation of this Agreement and the consummation of the
Closing under this Agreement.  If any action at law or in equity is
brought to enforce or interpret the terms of this Agreement, the

     

    
      
         

      

      
        -12-

        
          

        

      

      
         

      

    

     

    prevailing
party shall be entitled to reasonable attorneys’ fees, costs, and disbursements
in addition to any other relief to which it may be entitled.

    

    24.           Assignability.  This
Agreement may not be assigned by any party without the prior written consent of
the other party, provided that the Buyer may assign this Agreement and all of
its rights hereunder without consent and, upon any such assignment, this
Agreement shall inure to the benefit of, and be binding upon, such assignee or
successor, but Buyer will not be released from its obligations hereunder to the
extent they are not performed by the assignee.

    

    25.           Entire Agreement; Binding
Effect.  Except as otherwise specifically provided herein, all
understandings and agreements between the parties are merged into this Agreement
which fully and completely expresses its agreement and supersedes any prior
agreement or understanding relating to the subject matter
hereof.  This Agreement shall be binding upon and shall inure to the
benefit of the parties and their respective personal representatives, executors,
administrators, heirs, successors, and permitted assigns.

    

    26.           Governing Law; Forum, and
Venue.  This Agreement and the agreements contemplated hereby
shall be construed in accordance with and governed by the laws of the State of
Mississippi without giving effect to the principles of conflict of
law.

    

    27.           Descriptive
Headings.  The descriptive headings of the separate sections of
this Agreement are inserted for convenience only and shall not be deemed to
affect the meaning or construction of any of the provisions hereof.

    

    28.           Severability.  If
any provision of this Agreement is held contrary to any federal, state, or local
law, the invalidity of such provision shall not affect any other provision of
this Agreement, and the remaining provisions hereof shall continue in full force
and effect and unmodified hereby.  Any restriction or obligation
contained herein which cannot be enforced to its full extent shall be enforced
to the maximum extent permitted by law.

    

    [Reminder
of page intentionally left blank; signature page follows]

    

    
      
        
           

        

        
          -13-

          
            

          

        

        
           

        

      

    

    

    

    IN
WITNESS WHEREOF, the foregoing Agreement has been executed as of the date first
set forth above.

    

    

            SELLERS:

    

            Net Com Data
Corp of N.Y., a New York corporation

    

     

                           /s/ RON KATZ

            By:          
Ron Katz

            Its:           President

    

            American Timeshare
Associates, Inc., a New York corporation

    

    

                           /s/ RON KATZ

            By:          
Ron Katz

            Its:           President

    
 

            BUYER:

    

            Netcom Data Corp.,
a Georgia corporation

    

    

                         
 /s/ WALTER R.
GREEN

            By:          
Walter R. Green

            Its:           Treasurer
and Secretary

    

    
 

     

    -14-exh10-2_091708.htm

    Exhibit
10.2

    
 

    STATE
OF LOUISIANA      §

    PARISH
OF ORLEANS       §

    

    PROMISSORY
NOTE

    (DRAW
FACILITY)

     

    
      
        	
                $2,128,500.00

              	
                SEPTEMBER
      17, 2008

              

      

    

    

    FOR VALUE RECEIVED, UNITED ESYSTEMS, INC., a
Nevada corporation (“ESystems”),
NETCOM DATA SOUTHERN
CORP., a Georgia corporation (“Southern”),
NETCOM DATA CORP., a
Georgia corporation (“Netcom”)
and UNITED CHECK SERVICES,
L.L.C., a Louisiana limited liability company (“Check
Services” and together with ESystems, Southern and Netcom, jointly,
severally and in
solido, “Debtor”)
unconditionally promises to pay to the order of THERMO CREDIT, LLC a Colorado
limited liability company (together with its
successors and assigns, “Lender”),
without setoff, at its offices at 639 Loyola Avenue, Suite 2565, New Orleans
(Parish of Orleans), Louisiana 70113, or at such other place as may be
designated by Lender, the principal amount of TWO MILLION ONE HUNDRED TWENTY-EIGHT
THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($2,128,500.00), or so much
thereof as may be advanced and outstanding hereunder from time to time in
immediately available funds, together with interest computed daily on the
outstanding principal balance hereunder, at an annual interest rate (the “Rate”),
and in accordance with the payment schedule, indicated below.  This
PROMISSORY NOTE (this
“Note”)
is executed pursuant to and evidences the Loans funded and to be funded by
Lender under that certain LOAN,
PLEDGE AND SECURITY AGREEMENT between Debtor and Lender dated as of even
date herewith (as the same may be amended, supplemented, renewed or extended
from time to time, the “Loan
Agreement”) to which reference is made for a statement of the collateral,
rights and obligations of Debtor and Lender in relation thereto; but neither
this reference to the Loan Agreement nor any provision thereof shall affect or
impair the absolute and unconditional obligation of Debtor to pay unpaid
principal of and interest on this Note when due.  Capitalized terms
not otherwise defined herein shall have the same meanings as in the Loan
Agreement.

    

    1.           Rate.  The
Rate shall be the LESSER
of (a) the MAXIMUM RATE,
or (b) GREATER
of: (i) the PRIME RATE
plus  EIGHT PERCENT (8.00%), or (ii)
FIFTEEN PERCENT
(15.00%).  The term “Prime
Rate” means a variable rate of interest per annum equal to the prime rate
as published from time to time in the “Bonds, Rates &
Yields” table of The
Wall Street Journal.  If such Prime Rate, as so quoted, is
split between two or more different interest rates, then the prime rate shall be
the highest of such interest rates.  If the Prime Rate is no longer
published in the “Bonds, Rates &
Yields” table of The
Wall Street Journal, then the Prime Rate shall be (i) the rate of
interest per annum established from time to time by lender and designated as its
base or prime rate, which may not necessarily be the lowest rate charged by
Lender and is set by Lender in its sole discretion, or (ii) if Lender does not
publish or announce a base or prime rate, or does so infrequently or
sporadically, then the Prime Rate shall be determined by reference to another
base rate, prime rate, or similar lending rate index, generally accepted on a
national basis, as selected by Lender in its sole and absolute
discretion.  Notwithstanding any provision of this Note or any other
agreement or commitment between Debtor and Lender, whether written or oral,
express or implied, Lender shall never be entitled to charge, receive, or
collect, nor shall amounts received hereunder be credited so that Lender shall
be paid, as interest a sum greater than interest at the Maximum
Rate.  It is the intention of the parties that this Note, and all
instruments securing the payment of this Note or executed or delivered in
connection therewith, shall comply with applicable law.  If Lender
ever contracts for, charges, receives or collects anything of value which is
deemed to be interest under applicable law, and if the occurrence of any
circumstance or contingency, whether acceleration of maturity of this Note,
prepayment of this Note, delay in advancing proceeds of this Note, or any other
event, should cause such interest to exceed the maximum lawful amount, any
amount which exceeds interest at the Maximum Rate shall be applied to the
reduction of the unpaid principal balance of this Note or any other indebtedness
owed to Lender by Debtor, and if this Note and such other indebtedness are paid
in full, any remaining excess shall be paid to Debtor.  In determining
whether the interest exceeds interest at the Maximum Rate, the total amount of
interest shall be spread, prorated and amortized throughout the entire term of
this Note until its payment in full.  The term "Maximum
Rate" as used in this Note means the maximum nonusurious rate of interest
per annum permitted by whichever of applicable United States federal law or
Louisiana law permits the higher interest rate, including to the extent
permitted by applicable law, any amendments thereof hereafter or any new law
hereafter coming into effect to the extent a higher Maximum Rate is permitted
thereby.  If at any time the Rate shall exceed the Maximum Rate, the
Rate shall be automatically limited to the Maximum Rate until the total amount
of

    
      
        
          PROMISSORY
NOTE - PAGE 1

          THERMO
CREDIT, LLC - UNITED ESYSTEMS, INC.  

        

      

      
         

        
          

        

      

      
         

      

    

    interest
accrued hereunder equals the amount of interest which would have accrued if
there had been no limitation to the Maximum Rate.

    

    2.           Accrual
Method. Interest on the
Indebtedness evidenced by this Note shall be computed on the basis of a THREE HUNDRED SIXTY (360) day
year and shall accrue on the actual number of days elapsed for any whole or
partial month in which interest is being calculated.  In computing the
number of days during which interest accrues, the day on which funds are
initially advanced shall be included regardless of the time of day such advance
is made, and the day on which funds are repaid shall be included unless
repayment is credited prior to the close of business on the Business Day
received as provided herein.

    

    3.           Rate
Change Date. The Rate will change
each time and as of the date that the Prime Rate changes.

    

    4.           Payment
Schedule.  Except as expressly
provided herein to the contrary, all payments on this Note shall be applied in
the following order of priority: (a) the payment or reimbursement of any
expenses, costs or obligations (other than the outstanding principal balance
hereof and interest hereon) for which either Debtor shall be obligated or Lender
shall be entitled pursuant to the provisions of this Note or the other Loan
Documents, (b) the payment of accrued but unpaid interest hereon, and
(c) the payment of all or any portion of the principal balance hereof then
outstanding hereunder, in the direct order of maturity.  If an Event
of Default exists under any of the other Loan Documents, then Lender may, at the
sole option of Lender, apply any such payments, at any time and from time to
time, to any of the items specified in clauses (a), (b) or (c) above
without regard to the order of priority otherwise specified herein and any
application to the outstanding principal balance hereof may be made in either
direct or inverse order of maturity.  If any payment of principal or
interest on this Note shall become due on a day other than a Business Day, such
payment shall be made on the next succeeding Business Day and such extension of
time shall be such case be included in computing interest in connection with
such payment.  The outstanding principal balance of this Note, plus accrued and
unpaid interest thereon shall be due and payable on the earlier of: (i) the
acceleration of the Indebtedness pursuant to the terms of the Loan Documents;
(ii)
MARCH 17, 2009; or (iii) such other date as may be established by a
written instrument between Debtor and Lender, from time to time (the “Maturity
Date”).  Accrued and unpaid interest on the outstanding
principal balance of this Note shall be due and payable monthly commencing on
OCTOBER
31, 2008 and continuing on the SAME day of each calendar
month thereafter (or if no such corresponding date, on the LAST date of such calendar
month) and on the Maturity Date.  In the event that no Event of
Default or event which with notice and/or the passage of time would be an Event
of Default shall have occurred and be continuing as of MARCH 17, 2009, Debtor shall have
the option to extend the Maturity Date (the “Extension
Option”) to the earlier of: (i) the
acceleration of the Indebtedness pursuant to the terms of the Loan Documents;
(ii)
SEPTEMBER 17, 2009; or (iii) such other date as may be established by a
written instrument between Debtor and Lender, upon (1) written notice to Lender,
(2) Lender’s approval of the requested extension (not to be unreasonably
withheld or delayed), and (3) payment of all accrued interest and fees as shall
be due owing under the Loan Documents.  In the event that Debtor shall
have exercised the Extension Option on or before MARCH 17, 2009, the
outstanding principal balance of this Note, plus accrued and
unpaid interest thereon shall be due and payable as follows:

    

    
      	
               

            	
                    
                    (a) ONE
      (1) payment of
      accrued and unpaid interest on the outstanding principal balance of this
      Note shall be due and payable on MARCH 31,
      2009;

              

            

    

    

    
      	
               

            	
                    
                    (b) 
      FIVE
      (5) monthly
      payments of principal plus
      accrued and unpaid interest thereon in an amount necessary to amortize the
      outstanding principal balance of this Note as of MARCH
      17, 2009 over a period of TWENTY-FOUR
      (24) months commencing on APRIL
      30, 2009 and continuing on and continuing on the SAME
      day of each calendar month thereafter (or if no such corresponding date,
      on the LAST
      date of such calendar month);
and

              

            

    

    

    
      	
               

            	
                  (c)
      ONE
      (1) final payment
      of all principal plus accrued and unpaid interest shall be due and payable
      on the then current Maturity Date (i.e.,
      SEPTEMBER
      17, 2009).

            

    

    

    Each
date on which a payment shall be due and owing under this Note shall be a “Payment
Date.”  Debtor may borrow in one or more advances a maximum
aggregate amount outstanding at any one time equal to the principal amount of
this Note, provided that Debtor is not in default under any provision of this
Note, any other documents executed in

    
      
        
          PROMISSORY NOTE - PAGE 2

          THERMO
CREDIT, LLC - UNITED ESYSTEMS, INC.   

        

      

      
         

        
          

        

      

      
         

      

    

    connection
with this Note, or any other Loan Documents now or hereafter executed in
connection with any other obligation of Debtor to Lender, and provided that the
borrowings hereunder do not exceed any borrowing base or other limitation on
borrowings by Debtor.  Notwithstanding the foregoing, no advances
shall be made on this Note from and after MARCH 17,
2009.  Lender shall incur no liability for its refusal to
advance funds based upon its determination that any conditions of such further
advances have not been met.  The unpaid principal balance of this Note
at any time shall be the total amounts advanced hereunder by Lender less the
amount of principal payments made hereon by or for Borrower, which balance may
be endorsed hereon from time to time by Lender or otherwise noted in Lender's
records, which notations shall be, absent manifest error, conclusive evidence of
the amounts owing hereunder from time to time.

    

    5.           Delinquency
Charge.  To the extent permitted by law, a delinquency charge
will be imposed in an amount not to exceed FIVE PERCENT (5.00%) of the
amount of any payment of principal or interest on this Note that is more than
TEN (10) days past due.
The provisions herein for a delinquency charge shall not be deemed to extend the
time for any payment hereunder or to constitute a “grace period” giving Debtor a
right to cure any Event of Default.

    

    6.           Waivers,
Consents and Covenants.  Debtor, any endorser or guarantor
hereof, or any other party hereto (individually an "Obligor"
and collectively "Obligors")
and each of them jointly and severally: (a) waives presentment, demand, protest,
notice of demand, notice of intent to accelerate, notice of acceleration of
maturity, notice of protest, notice of nonpayment, notice of dishonor, and any
other notice required to be given under the law to any Obligor in connection
with the delivery, acceptance, performance, default or enforcement of this Note,
any endorsement or guaranty of this Note, or any other documents executed in
connection with this Note or any other Loan Documents now or hereafter executed
in connection with any obligation of Debtor to Lender; (b) consents to all
delays, extensions, renewals or other modifications of this Note or the Loan
Documents, or waivers of any term hereof or of the Loan Documents, or release or
discharge by Lender of any of Obligors, or release, substitution or exchange of
any security for the payment hereof, or the failure to act on the part of
Lender, or any indulgence shown by Lender (without notice to or further assent
from any of Obligors); (c) agrees that no such action, failure to act or failure
to exercise any right or remedy by Lender shall in any way affect or impair the
obligations of any Obligors or be construed as a waiver by Lender of, or
otherwise affect, any of Lender's rights under this Note, under any endorsement
or guaranty of this Note or under any of the Loan Documents; and (d) agrees to
pay, on demand, all costs and expenses of collection or defense of this Note or
of any endorsement or guaranty hereof and/or the enforcement or defense of
Lender's rights with respect to, or the administration, supervision,
preservation, or protection of, or realization upon, any property securing
payment hereof, including, without limitation, reasonable attorney's fees,
including fees related to any suit, mediation or arbitration proceeding, out of
court payment agreement, trial, appeal, bankruptcy proceedings or other
proceeding, in such amount as may be determined reasonable by any arbitrator or
court, whichever is applicable.

    

    7.           Prepayments.  Debtor
may prepay the unpaid principal balance of this Note by paying, in addition to
the entire
unpaid principal amount, all accrued interest and any other sums due Lender at
the time of prepayment, plus an amount equal
to THREE PERCENT (3.00%)
of the Credit Facility (the “Prepayment
Fee”); provided however, that no Prepayment Fee shall be due and owing if
such prepayment shall have been made within TEN (10) days of the then
current Maturity Date.  If the Extension Option is exercised, no
Prepayment Fee will be due and owing if THIRTY (30) days advance
written notice of such prepayment is provided to Lender.  All
prepayments of principal shall be applied in the inverse order of maturity, or
in such other order as Lender shall determine in its sole
discretion.

    

    8.           Remedies
Upon Default.  Whenever there is a Event of Default under the
Loan Documents (a) the entire balance outstanding hereunder and all other
obligations of Debtor to Lender (however acquired or evidenced) shall, at the
option of Lender, become immediately due and payable and any obligation of
Lender to permit further borrowing under this Note shall immediately cease and
terminate, and/or (b) to the extent permitted by law, the Rate of interest on
the unpaid principal shall be increased at Lender's discretion up to EIGHTEEN PERCENT (18.00%) per
annum (the "Default
Rate").  The provisions herein for a Default Rate shall not be
deemed to extend the time for any payment hereunder or to constitute a "grace
period" giving  Obligors a right to cure any default.  At
Lender's option, any accrued and unpaid interest, fees or charges may, for
purposes of computing and accruing interest on a daily basis after the due date
of this Note or any installment thereof, be deemed to be a part of the principal
balance, and interest shall accrue on a daily compounded basis after such date
at the

    
      
        
          PROMISSORY
NOTE - PAGE 3

          THERMO
CREDIT, LLC - UNITED ESYSTEMS, INC.   

        

      

      
         

        
          

        

      

      
         

      

    

    Default
Rate provided in this Note until the entire outstanding balance of principal and
interest is paid in full.  Upon an Event of Default, Lender is hereby
authorized at any time, at its option and without notice or demand, to set off
and charge against any deposit accounts of any Obligor (as well as any money,
instruments, securities, documents, chattel paper, credits, claims, demands,
income and any other property, rights and interests of any Obligor), which at
any time shall come into the possession or custody or under the control of
Lender or any of its agents, affiliates or correspondents, any and all
obligations due hereunder.  Additionally, Lender shall have all rights
and remedies available under each of the Loan Documents, as well as all rights
and remedies available at law or in equity.

    

    9.           Waiver.  The
failure at any time of Lender to exercise any of its options or any other rights
hereunder shall not constitute a waiver thereof, nor shall it be a bar to the
exercise of any of its options or rights at a later date.  All rights
and remedies of Lender shall be cumulative and may be pursued singly,
successively or together, at the option of Lender.  The acceptance by
Lender of any partial payment shall not constitute a waiver of any default or of
any of Lender's rights under this Note.  No waiver of any of its
rights hereunder, and no modification or amendment of this Note, shall be deemed
to be made by Lender unless the same shall be in writing, duly signed on behalf
of Lender; each such waiver shall apply only with respect to the specific
instance involved, and shall in no way impair the rights of Lender or the
obligations of Obligors to Lender in any other respect at any other
time.

    

    10.           Applicable
Law, Venue and Jurisdiction.  Debtor agrees that this Note
shall be deemed to have been made in the State of Louisiana at Lender's address
indicated at the beginning of this Note and shall be governed by, and construed
in accordance with, the laws of the State of Louisiana and is performable in the
City and Parish of Louisiana indicated at the beginning of this
Note.  In any litigation in connection with or to enforce this Note or
any endorsement or guaranty of this Note or any Loan Documents, Obligors, and
each of them, irrevocably consent to and confer personal jurisdiction on the
courts of the State of Louisiana or the United States courts located within the
State of Louisiana.  Nothing contained herein shall, however, prevent
Lender from bringing any action or exercising any rights within any other state
or jurisdiction or from obtaining personal jurisdiction by any other means
available under applicable law.

    

    11.           Partial
Invalidity.  The unenforceability or invalidity of any
provision of this Note shall not affect the enforceability or validity of any
other provision herein and the invalidity or unenforceability of any provision
of this Note or of the Loan Documents to any person or circumstance shall not
affect the enforceability or validity of such provision as it may apply to other
persons or circumstances.

    

    12.           Binding
Effect.  This Note shall be binding upon and inure to the
benefit of Debtor, Obligors and Lender and their respective successors, assigns,
heirs and personal representatives, provided, however, that no obligations of
Debtor or Obligors hereunder can be assigned without prior written consent of
Lender.

    

    13.           Controlling
Document.  To the extent that this Note conflicts with or is in
any way incompatible with any other document related specifically to the loan
evidenced by this Note, this Note shall control over any other such document,
and if this Note does not address an issue, then each other such document shall
control to the extent that it deals most specifically with an
issue.

    

    14.           Commercial
Purpose.  DEBTOR REPRESENTS TO LENDER THAT THE
PROCEEDS OF THIS LOAN ARE TO BE USED PRIMARILY FOR BUSINESS, COMMERCIAL OR
AGRICULTURAL PURPOSES AND THIS NOTE IS SUBJECT TO LOUISIANA REVISED STATUTES
§ 9:3509, ET SEQ.  DEBTOR ACKNOWLEDGES HAVING READ AND
UNDERSTOOD, AND AGREES TO BE BOUND BY, ALL TERMS AND CONDITIONS OF THIS
NOTE

    

    15.           Collection.   If
this Note is placed in the hands of an attorney for collection, or if it is
collected through any legal proceeding at law or in equity or in bankruptcy,
receivership or other court proceedings, Debtor agrees to pay all costs of
collection, including, but not limited to, court costs and reasonable attorneys'
fees.

    

    16.           Notice of
Balloon Payment.  At maturity (whether by acceleration or
otherwise), Debtor must repay the entire principal balance of this Note and
unpaid interest then due.  Lender is under no obligation to refinance
the outstanding principal balance of this Note (if any) at that
time.  Debtor will, therefore, be required to make payment out of
other assets Debtor may own; or Debtor will have to find a lender willing to
lend Debtor the 

    
      
        
          PROMISSORY
NOTE - PAGE 4

          THERMO
CREDIT, LLC - UNITED ESYSTEMS, INC.   

        

      

      
         

        
          

        

      

      
         

      

    

    money
at prevailing market rates, which may be higher than the interest rate on the
outstanding principal balance of this Note.  If Obligors have
guaranteed payment of this Note, Obligors may be required to perform under such
guaranty.

    

    17.           Waiver Of
Jury Trial.  DEBTOR HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT,
PROCEEDING, OR COUNTERCLAIM THAT RELATES TO OR ARISES OUT OF THIS NOTE OR ANY OF
THE LOAN DOCUMENTS OR THE ACTS OR FAILURE TO ACT OF OR BY LENDER IN THE
ENFORCEMENT OF ANY OF THE TERMS OR PROVISIONS OF THIS NOTE OR THE OTHER LOAN
DOCUMENTS.

    

    REMAINDER
OF PAGE LEFT INTENTIONALLY BLANK

     

     

     

     

     

     

     

    
 

    
      
        
          PROMISSORY
NOTE - PAGE 5

          THERMO
CREDIT, LLC - UNITED ESYSTEMS, INC.   

        

      

      
         

        
          

        

      

      
         

      

    

    EXECUTED as of the date first
written above.

    

    DEBTOR:

    

    UNITED
ESYSTEMS, INC.

    

    
      
        	
                By:
      /s/ WALTER REID GREEN
      JR.

              
	
                Name:
      Walter Reid Green Jr.

              
	
                Title:
      Treasurer

              
	 
      
	
                NETCOM
      DATA SOUTHERN CORP.

              
	 
      
	
                By:
      /s/ WALTER REID GREEN
      JR.

              
	
                Name:
      Walter Reid Green Jr.

              
	
                Title:
      Treasurer

              
	 
      
	
                NETCOM
      DATA CORP.

              
	 
      
	
                By:
      /s/ WALTER REID GREEN
      JR.

              
	
                Name:
      Walter Reid Green Jr.

              
	
                Title:
      Treasurer

              
	 
      
	
                UNITED
      CHECK SERVICES, L.L.C.

              
	 
      
	
                By:
      /s/ WALTER REID GREEN
      JR.

              
	
                Name:
      Walter Reid Green Jr.

              
	
                Title:
      Treasurer

              

      

    ADDRESS:

    

    15431
O’Neal Road

    Gulfport,
MS  39503

     

    

    PROMISSORY
NOTE - PAGE 6

    THERMO
CREDIT, LLC - UNITED ESYSTEMS, INC.

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