Document:

applied_8k-ex1002.htm

    Exhibit
10.2

     

    
      SECURED
PROMISSORY NOTE

       

      APPLIED
SOLAR, INC.

       

      
        	
                Date:  May 18,
      2009

              	
                U.S.
      $698,000

              

      

      

      FOR VALUE RECEIVED, in cash
and other consideration,
Applied Solar, Inc., a Nevada corporation (“Borrower”), hereby promises to
pay to The Quercus Trust, or its registered assigns (“Lender”), the sum of Six
Hundred Ninety Eight Thousand ($698,000) (the “Loan”).

      
 

      (1)           PAYMENTS OF
PRINCIPAL.  On the Maturity Date, unless an Event of Default
shall have sooner occurred, Borrower shall pay to Lender, in cash, all
outstanding principal under this Secured Promissory Note (this “Note”).  The “Maturity Date” shall be June 15,
2009.  Borrower may prepay all or any portion of the amounts owing
under this Note at any time without fee, charge or premium.

       

      (2)           INTEREST.  This
Note shall bear interest at the rate of 10% per annum payable , in cash, on the
Maturity Date.

       

      (3)           SECURITY.  Borrower’s
performance of the obligations and covenants of this Note, including but not
limited to repayment, shall be secured by the lien and security interest in the
Collateral, as set forth in that certain  Loan and Security Agreement
between Lender and Borrower executed on even date herewith, describing all of
the assets of Borrower, wherever located, subject only to existing perfected
liens and encumbrances.

       

      (4)           EVENT OF
DEFAULT.

       

      (a)           Event of
Default.  Each of the following events shall constitute an
“Event of Default”
hereunder:

       

      (i)  Borrower's
failure to pay to the Lender any amount when and as due under this Note;
or

       

      (ii)  any
Event of Default (as defined in the Loan and Security Agreement) under the Loan
and Security Agreement including but not limited to the filing of any case or
proceeding under any bankruptcy law or similar provision of state law, or any
effort by Borrower to impose a lien senior to that of Lender in any Collateral
held by Lender.

       

      (b)           Acceleration.  Upon
the occurrence of an Event of Default under this Note, Lender shall have, at its
option, the right, without further notice or demand, which Borrower hereby
expressly waives, to declare the unpaid principal and interest immediately due
and payable and to exercise any other rights and remedies that Lender may
have.  Lender’s failure to accelerate the payment of this Note upon
the occurrence of one or more events of default shall not constitute a waiver of
Lender’s right to exercise such options at any subsequent time with respect to
the same or any other event of default.  Lender’s acceptance of any
payment under this Note which is less than payment in full of all amounts then
due and payable shall not constitute a waiver by Lender of any right to declare
a default hereunder or to pursue any remedy available under this Note, at law or
in equity, or under any other agreement, instrument or document entered into by
and between Borrower and Lender.

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      (5)           LOST, STOLEN OR
MUTILATED
NOTE.  Upon receipt by Borrower of evidence reasonably
satisfactory to Borrower of the loss, theft, destruction or mutilation of this
Note, and, in the case of loss, theft or destruction, of any indemnification
undertaking by the Lender to Borrower in customary form and, in the case of
mutilation, upon surrender and cancellation of this Note, Borrower shall execute
and deliver to the Lender a new Note representing the outstanding
principal.

       

      (6)           CUMULATIVE
RIGHTS AND
INJUNCTIVE RELIEF.  The remedies provided in this Note shall be
cumulative and in addition to all other remedies available under this Note, or
any other agreement between Lender and Borrower, at law or in equity (including
a decree of specific performance and/or other injunctive relief) and nothing
herein shall limit the Lender's right to pursue actual and consequential damages
for any failure by Borrower to comply with the terms of this
Note.  Borrower acknowledges that a breach by it of its obligations
hereunder will cause irreparable harm to the Lender and that the remedy at law
for any such breach may be inadequate.  Borrower therefore agrees
that, in the event of any such breach or threatened breach, the Lender shall be
entitled, upon posting a bond and demonstrating economic loss, in addition to
all other available remedies, to an injunction restraining any
breach.

       

      (7)           PAYMENT OF COLLECTION,
ENFORCEMENT AND OTHER COSTS.  If (a) this Note is placed in the
hands of an attorney for collection or enforcement or is collected or enforced
through any legal proceeding or the Lender otherwise takes action to collect
amounts due under this Note or to enforce the provisions of this Note or (b)
there occurs any bankruptcy, reorganization, receivership of Borrower or other
proceedings affecting Borrower’s creditors' rights and involving a claim under
this Note, then Borrower shall pay the costs incurred by the Lender for such
collection, enforcement or action or in connection with such bankruptcy,
reorganization, receivership or other proceeding, including, but not limited to,
financial advisory fees and attorneys' fees and disbursements.

       

      (8)           CONSTRUCTION;
HEADINGS.  This Note shall be deemed to be jointly drafted by
Borrower and the Lender and shall not be construed against any person as the
drafter hereof.  The headings of this Note are for convenience of
reference and shall not form part of, or affect the interpretation of, this
Note.

       

      (9)           FAILURE OR INDULGENCE NOT
WAIVER.  No failure or delay on the part of the Lender in the
exercise of any power, right or privilege hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other right,
power or privilege.

       

      (10)           NOTICES;
PAYMENTS.

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      (a)           Notices.  Any
and all notices or other communications or deliveries required or permitted to
be provided hereunder shall be in writing and shall be deemed given and
effective on the earliest of (a) the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number set forth on
the signature pages attached hereto prior to 5:30 p.m. (Pacific time) on a
Business Day, (b) the next Business Day after the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile number set
forth on the signature pages attached hereto on a day that is not a Business Day
or later than 5:30 p.m. (Pacific time) on any Business Day, (c) the 2nd
Business Day following the date of mailing, if sent by U.S. nationally
recognized overnight courier service, or (d) upon actual receipt by the party to
whom such notice is required to be given.  The address for such
notices and communications shall be as set forth below:

       

      If to Lender:

       

      The Quercus Trust

      1835 Newport Blvd.

      A109 - PMB 467

      Costa Mesa, CA 92627

      Facsimile No: (949)
631-2325

      Attention: David Gelbaum

      

      With a copy to:

      

      Joseph Bartlett, Esq.

      1900 Avenue of the Stars

      19th
Floor

      Los Angeles, CA 90067

      Facsimile No: (310)
388-1055

      

       

      If to Borrower:

       

      Applied
Solar, Inc.

       

      3560
Dunhill Street

      San
Diego, California 92101

      Facsimile
No.: (858) 909-4099

      Attention:
General Counsel

       

      (b)            Payments.  Whenever
any payment of cash is to be made by Borrower to any Person pursuant to this
Note, such payment shall be made in lawful money of the United States of America
by a check drawn on the account of Borrower and sent via overnight courier
service to such Person at the address provided for notice pursuant to Section
10(a) above, or as subsequently provided to the other party in writing; provided
that the Lender may elect to receive a payment of cash via wire transfer of
immediately available funds by providing Borrower with prior written notice
setting out such request and the Lender's wire transfer
instructions.  Whenever any amount expressed to be due by the terms of
this Note is due on any day which is not a Business Day, the same shall instead
be due on the next succeeding day which is a Business Day.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      (11)           CANCELLATION.  After
all principal, interest and other
amounts at any time owed on this Note have been indefeasibly paid in full, this
Note shall automatically be deemed canceled, shall be surrendered to Borrower
for cancellation and shall not be reissued, and the security interest granted in
the Collateral shall terminate.  The Lender agrees to promptly
execute, file and/or deliver any and all documents reasonably required or
requested to further evidence such termination, including a UCC termination
statement.

       

      (12)           WAIVERS BY BORROWER.
 Borrower (a) waives diligence, grace, demand, presentment for payment,
exhibition of this Note, protest, notice of protest, notice of dishonor, notice
of demand, notice of nonpayment, and any or all other notices whatsoever, and
any and all exemption rights against the indebtedness evidenced by this Note;
(b) agrees to any and all extensions or renewals from time to time without
notice and to any partial payments of this Note; (c) consents to offsets of any
sums owed to Borrower by Lender at any time and to any release of all or any
part of the security for this Note, or to any release of any party liable for
payment of this Note; and (d) agrees that any such waiver, extension, renewal,
release, consent, or partial payment may be made without notice to Borrower or
any other party and shall not release or discharge any one or all of them from
the obligation of payment of this Note or any installment of this Note or any
other liability under this Note.  Any security given for the
obligations of Borrower may be waived, exchanged, surrendered or otherwise dealt
with by Lender without affecting the liability of Borrower or any other party
who might subsequently become liable hereon.

       

      (13)           GOVERNING LAW; JURISDICTION;
SEVERABILITY; JURY TRIAL.  This Note shall be construed and
enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Note shall be governed by, the
internal laws of the State of California, without giving effect to any choice of
law or conflict of law provision or rule (whether of the State of California or
any other jurisdictions) that would cause the application of the laws of any
jurisdictions other than the State of California.  Borrower hereby
irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in Los Angeles County, California, for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to
assert in any suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such suit, action or
proceeding is brought in an inconvenient forum or that the venue of such suit,
action or proceeding is improper.  Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by
law.  In the event that any provision of this Note is invalid or
unenforceable under any applicable statute or rule of law, then such provision
shall be deemed inoperative to the extent that it may conflict therewith and
shall be deemed modified to conform with such statute or rule of
law.  Any such provision which may prove invalid or unenforceable
under any law shall not affect the validity or enforceability of any other
provision of this Note.  Nothing contained herein shall be deemed or
operate to preclude the Lender from bringing suit or taking other legal action
against Borrower in any other jurisdiction to collect on Borrower's obligations
to the Lender, to realize on any collateral or any other security for such
obligations, or to enforce a judgment or other court ruling in favor of the
Lender.  BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT
IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY
DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY
TRANSACTION CONTEMPLATED HEREBY.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      (14)           RECORDS OF
PAYMENT.  The records of Lender shall be prima facie evidence
of the amount owing on this Note.

       

      (15)           USURY
SAVINGS.  Borrower and Lender intend to contract in compliance
with all state and federal usury laws governing the loan evidenced by this
Note.  Lender and Borrower agree that none of the terms of this Note
shall be construed to require payment of interest at a rate in excess of the
maximum interest rate allowed by any applicable state or federal usury
laws.  If Lender receives sums which constitute interest that would
otherwise increase the effective interest rate on this Note to a rate in excess
of that permitted by any applicable law, then all such sums constituting
interest in excess of the maximum lawful rate shall at Lender’s option either be
credited to the payment of principal or returned to Borrower.  The
provisions of this Section 16 control the other provisions of this Note and any
other agreement between Borrower and Lender.

       

      (16)           SEVERABILITY.  All
provisions hereof are severable.  If any provision hereof is declared
invalid for any reason, that invalidity shall not affect any other provision of
this Note, all of which shall remain in full force and effect

       

      (17)           NO
IMPAIRMENT.  No provision of this Note or of the other Loan
Documents shall alter or impair the obligation of Borrower, which is absolute
and unconditional, to pay the principal amounts and the interest payable thereon
at the place, time and in the currency prescribed in this
Note.  Borrower agrees that to the extent Borrower makes or has
previously made any payment to Lender in connection with the indebtedness
evidenced by the Note, and all or any part of such payment is subsequently
invalidated, declared-to be fraudulent or preferential, set aside or required to
be repaid by Lender or paid over to a trustee, receiver or any other entity,
whether under any bankruptcy act or otherwise (any such payment is hereinafter
referred to as a “Voidable
Payment”), then the indebtedness of Borrower under the Note shall
continue, be increased or shall be reinstated, as the case may be, and, to the
extent of such payment or repayment by Borrower, the indebtedness evidenced by
the Note or part thereof intended to be satisfied by such Preferential Payment
shall be revived and continued in full force and effect as if said Voidable
Payment had not been made.

       

      (18)           CERTAIN
DEFINITIONS.  For purposes of this Note, the following terms
shall have the following meanings:

       

      (a)           “Business Day” means any day
other than Saturday, Sunday or other day on which commercial banks in the city
of Los Angeles are authorized or required by law to remain closed

       

      (b)           
“Lender” shall have the
meaning set forth in the first paragraph hereof.

       

      (c)           
The “Loan Documents” are
this Note, the Loan and Security Agreement, all financing statements filed or to
be filed against Borrower in favor of Lender and any and all other instruments,
certificates, agreements, and other documents executed by Borrower at the
direction or request of Lender in connection with the loan evidenced by this
Note, and any amendments thereto.

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      (d)          The
“Loan and Security
Agreement” is that certain Loan and Security Agreement entered into by
and between Borrower and Lender, executed on or about even date herewith,
whereby Borrower grants to Lender a lien and security interest on that certain
personal property described in detail in the Loan and Security Agreement
(collectively, the “Collateral”) and shall secure
performance of this Note and all Obligations of Borrower to Lender, as such term
is defined in the Loan and Security Agreement.

       

      (e)           “Note” means this secured
promissory note and shall include all notes issued in exchange thereof or
replacement thereof.

       

      (f)           “Person” means an individual or
legal entity, including but not limited to a corporation, a limited liability
company, a partnership, a joint venture, a trust, an unincorporated organization
and a government or any department or agency thereof.

       

      (19)           DISCLOSURE. Upon receipt or
delivery by Borrower of any notice in accordance with the terms of this Note,
unless Borrower has in good faith determined that the matters relating to such
notice do not constitute material, nonpublic information relating to
Borrower or its Subsidiaries, Borrower shall comply with the disclosure
requirements under the U.S. federal securities laws.

       

      [Signature
Page Follows]

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      IN
WITNESS WHEREOF, Borrower has caused this Note to be duly executed as of the set
forth above.

       

      
        
          
            
              
                	 
      APPLIED
      SOLAR, INC.
	 
	 
	
                        By:   /s/David
      Field                                               
      

                      
	
                        Name:
      David Field

                      
	
                        Title:
      President and Chief Executive
Officer

                      

              

            

          

        

      

      

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      7uvu_10k-ex1024.htm

    Exhibit 10.24

     

    GENERAL
RELEASE AND SETTLEMENT AGREEMENT

    
      

      This
General Release and Settlement Agreement (“Agreement”) is made this 29th day of
December, 2008 by and between uVuMobile, Inc. (the “Company”) and the Beaton
Family (as defined herein). The term “Parties” shall refer to the Beaton Family
and the Company collectively.

      

      WITNESSETH:

      

      WHEREAS,
William J. Beaton, Jr., William J. Beaton Jr. Trust, William J. Beaton, III,
William J. Beaton III IRRV TR UA, Kathleen L. Cote, Ronald K. Beaton, James E.
Beaton, and Robert A. Beaton (collectively the "Beaton Family") have asserted
certain claims and rights against and with respect to the Company, including,
but not limited to, certain claims and rights they believe they have respect to
the Company; and;

      

      WHEREAS,
the Beaton Family desires to resolve all claims and rights alleged and any and
all other claims and rights against the Company.

      

      NOW,
THEREFORE, for and in consideration of the mutual promises and covenants set
forth herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as
follows:

      

      AGREEMENT

      

      1.      
Effective Date.
This Agreement shall become effective on December 29, 2008 (“the Effective
Date”).

      

      2.    
 Payment.

      

      (a)  
 Payment.  The
Company will issue Six-Million (6,000,000) shares of common stock (the “Common
Stock”) to the Beaton Family to be allocated to them as solely agreed to by and
between the Beaton Family.  The inability of the Beaton Family to
agree on the proper allocation of the common stock will not affect the validity
or enforceability of this Agreement.  The Company may rely upon the
written representation of Kathleen L. Cote as to the proper allocation of the
Common Stock.  Assuming Kathleen L. Cote notifies the Company in
writing of the proper allocation of the Common Stock on or before January 15,
2008, the Company will use its best efforts to issue the applicable stock
certificates and deliver them to Kathleen L. Cote by January 30,
2008.

      

      (b)   
Taxes and
Indemnity. Except as may be set forth by the rules and regulations of the
Internal Revenue Service, the agreed upon value for Federal income tax purposes
for each share of Common Stock (the "Share Basis") will be the lower of fifty
percent (50%) of the publicly traded closing price of the Company’s stock on (i)
the Effective Date, or (ii) the day on which the Stock Certificates for the
Common Stock are physically received by Kathleen L. Cote.  The Company
will issue to each of the Beaton Family an IRS Form 1099 reflecting their pro
rata share of the Share Basis for the Common Stock.  The Beaton Family
shall be solely responsible for the payment of any taxes or any withholdings
resulting from the issuance of the Common Stock and shall, jointly and
severally, indemnify the Company and hold the Company harmless from any taxes,
amounts required by law to be withheld as a result of the issuance of the Common
Stock, penalties, costs, expenses and interest assessed against, paid by, or
incurred by the Company as a result of or relating to the issuance of the Common
Stock, the Share Basis, or the reporting of the Share Basis to any government
authority or to the Beaton Family, including but not limited to reporting the
Share Basis for the Common Stock on IRS Form 1099.

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      

      (c)    
Legend on Common
Stock.  The Beaton Family each hereby acknowledge, understand
and agree that the Common Stock will be legended and restricted securities
within the meaning of the Securities Act of 1933, and that as such, such shares
may not be offered or sold publicly unless such shares are registered under the
Securities Act of 1933 or offered and sold pursuant to an exemption
therefrom.

      

      3.      
Release of Claims by
the Beaton Family. As a material inducement to the Company to enter into
this Agreement, the Beaton Family hereby irrevocably release the Company and
each of the owners, stockholders, predecessors, successors, directors, officers,
employees, representatives, attorneys, subsidiaries and affiliates (and agents,
directors, officers, employees, representatives and attorneys of such
subsidiaries and affiliates) of the Company, and all persons acting by, through,
under or in concert with them, including without limitation, Daniel McKelvey,
Richard Seifert, William Scigliano, Scott Hughes, and Ron Warren (collectively
the “Releasees”), from any and all charges, claims, liabilities, agreements,
damages, causes of action, suits, costs, losses, debts and expenses (including
attorneys’ fees and costs actually incurred) of any nature whatsoever, known or
unknown, including, but not limited to, any claim of breach of fiduciary duty,
rights arising out of alleged violations of any contracts, express or implied,
any covenant of good faith and fair dealing, express or implied, or any tort, or
any federal, state or other governmental statute, regulation or ordinance (the
“Claim” or “Claims”), which the Beaton Family may have had, now have, or claim
to have, or which the Beaton Family at any time hereinafter may have or claim to
have, against each or any of the Releasees occurring up to and including the
Effective Date.  Notwithstanding the above, the Beaton Family shall
continue to own the shares, if any, they owned prior to the Effective Date;
however, claims accruing or arising prior to the Effective Date relating to
those shares are released hereby.

      

      4.     
 Covenants Not to
Sue.   The Beaton Family agrees that they will not
hereafter file or pursue any claims, grievances, complaints, lawsuits, or
arbitrations against Releasees based on any Claim.

      

      5.     
 Confidentiality
of this Agreement.  The Beaton Family agree to keep
confidential the terms of this Agreement, except as may be required by law
(including but not limited to SEC disclosures) or as the Company, in its sole
discretion, may deem fit to disclose in a press release.

      

       6.    
 Destruction of
Files.  The Beaton Family shall immediately destroy all
pleadings, depositions, files, correspondence, computer records, disks, and
other documents obtained in any prior Lawsuit or relating to any Lawsuits or the
Claims (collectively the “Files”).  Beaton Family shall only use the
Files to assist the Company and shall destroy the Files immediately upon request
of the Company.

      

      7.      
Agreement Not to
Assist Others.   The Beaton Family represents and agrees
that they will not assist any other person or entity of any kind in the
institution, assertion, commencement, pursuit, prosecution, settlement or
resolution of any claim, action, cause of action, suit, right, or demand of any
kind whatsoever that in any way is based on, relates to, or arises from in whole
or in part, directly or indirectly, any act or omission of any of the Releasees
occurring up to and including the Effective Date of this Agreement, including
but not limited to any claim that was asserted or that could have been asserted
in the Lawsuits.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      8.      
Agreement Not to Use
Confidential Information by the Beaton Family.  The Beaton
Family covenant and agree, for a period of five (5) years from the Effective
Date of this Agreement, not to use any Confidential Information which is or may
come into the possession or knowledge of the Beaton Family, including, but not
limited to, any such information that was or is obtained through the Lawsuits or
through any other means not herein specified, in any way against the Releasees.
For purposes of this Agreement, “Confidential Information” means any and all
data and information, whether disclosed orally, in writing, by observation, or
otherwise, relating to the Company’s business which is not generally known to
its competitors or the public and which has value to the Company. Confidential
information covered by this Agreement does not have to be marked “Confidential”
to be treated as such, and it includes, without limitation, information relating
to the Company’s: software; designs; compilations; programs; methods;
techniques; drawings; processes; research and development; legal affairs;
accounting; filings and drafts thereof; work papers; finances; actual or
potential customer information and lists; customer, partners, prospective
customer, clients, vendors, agents, representatives, consultant, and employment
candidate contact names and information; customer preferences; the needs and
hiring habits of the Company’s customers; billing rates; pricing practices;
marketing, recruiting, and placement strategies; business plans; margins;
prices; operations; existing and future services; contract expiration dates;
forecasts and forecast assumptions and volumes; and other financial, sales,
marketing, services, and operations information, whether written or otherwise,
which is not common knowledge in the Company’s industry or to the public.
Confidential Information shall not include any data or information that has been
voluntarily disclosed to the public or its competitors by the Company (except
where such public disclosure has been made without authorization) or that has
been independently developed and disclosed by others, or that otherwise enters
the public domain through lawful means.

      

      9.     
Agreement Not to
Disparage by the Beaton Family. The Beaton Family agrees that, as part of
the consideration for this Agreement, and for a period of three (3) years from
the Effective Date, they will not, directly or indirectly, in any capacity or
manner, make, cause, encourage or assist to be made any statements, comments or
remarks, whether oral, verbal, in writing, or electronically transmitted, which
might reasonably be considered to be derogatory, defamatory or critical of, or
negative towards, or to malign, harm, defame, disparage, or damage the
reputation and good name of the Company, its subsidiaries or affiliates, its
respective officers, directors, agents or employees, or the Releasees. Provided,
however, that if any of the Beaton Family are required by any applicable law,
regulation, statute, subpoena, court order or other compulsory process to
disclose information related to the Company, such disclosure of truthful
information shall not constitute a breach of this section or of this Agreement,
provided that the Beaton Family give the Company reasonable advance notice of
the request for such disclosure.

      

      10.   
 Entire
Agreement. This Agreement sets forth the complete and exclusive statement
of the terms of the agreement between the Parties hereto and fully supersedes
any and all prior agreements or understandings between the Parties hereto
pertaining to the subject matter hereof.

      

      11.    
Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of
the State of Georgia, without giving effect to any principles of conflicts of
laws.

      

      12.   
 Specific
Performance; Attorneys’ Fees. This Agreement may be specifically
enforced, and injunctive relief may be granted to prevent a breach of the
Agreement since there is no adequate remedy at law. The prevailing party in any
proceeding brought to enforce this Agreement shall be entitled to an award of
its reasonable costs and expenses, including, without limitation, attorneys’
fees.

      

      13.   
 Severability. Should
any part, term or provision of this Agreement be declared or determined by any
court to be illegal, invalid or otherwise unenforceable, the legality, validity
and enforceability of the remaining parts, terms or provisions hereof shall be
deemed not to be affected, and the Agreement shall be interpreted and enforced
as if such illegal, invalid or unenforceable part, term or provision, to the
extent possible, is not contained herein.

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      14.   
Construction.
The Parties acknowledge and agree that they participated jointly in the
negotiation and drafting of this Agreement and the rule of construction that
ambiguities are construed against the drafter is hereby waived.

      

      15.   
 Amendment. This
Agreement may not be modified, amended, supplemented, or terminated except by a
written instrument executed by the Parties hereto.

      

      16.    
Heading. The
headings contained in this Agreement are for reference purposes only and shall
not in any way affect the meaning or interpretation of this
Agreement.

      

      17.    
Notice.  All
notices, requests, demands, and other communications required hereunder shall be
in writing and shall be deemed to have been duly given if delivered or if
mailed, by United States certified or registered mail, postage prepaid, to the
other party to which the same is directed at the following addresses (or at such
other addresses as shall be given in writing by the Parties to one
another):

      

      
        	
                If
      to the Company:

              	
                Attn:
      Chief Financial Officer w/ a copy also to:

                Attn:
      General Counsel

                uVuMobile,
      Inc.

                2160
      Satellite Boulevard

                Suite
      130

                Duluth,
      Georgia 30097

              
	 
      	 
      
	
                If
      to Beaton Family:

              	
                Kathleen
      L. Cote

                800
      5th
      Avenue South

                St.
      Petersburg, FL 33701

                 

              

      

      

      18.    
Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall
be an original, and all of which together shall be deemed to be one and the same
Agreement. Executed counterparts may be delivered via facsimile
transmission.

      

      19.    
Participation in
Negotiations. EACH OF THE UNDERSIGNED PARTIES ACKNOWLEDGES AND AGREES
THAT SUCH PARTY HAS PARTICIPATED IN THE NEGOTIATION OF AND CAREFULLY READ EACH
OF THE TERMS AND PROVISIONS OF THIS AGREEMENT AND UNDERSTANDS ITS CONTENTS, AND
THAT SUCH PARTY EXECUTED THIS AGREEMENT AS SUCH PARTY’S OWN FREE ACT AND
DEED.

      

      

      

      Executed
and agreed to this 29th day of December, 2008 by and between:

      

      uVuMobile,
Inc.

      

      /s/
Ronald A.
Warren                       

      By:          Ronald
A. Warren

      Its:          Chief
Financial Officer

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      

      

      /s/
William J. Beaton,
Jr.                    

      By:          William
J. Beaton, Jr.

      

      

      /s/
William J. Beaton,
Jr.                   

      By:         William
J. Beaton, Jr. Trust, Dated June, 3, 1996

      Joan Sellers, Trustee

      

      

      /s/
William J. Beaton,
III                    

      By:          William
J. Beaton, III

      

      

      /s/
William J. Beaton, III

      By:         William
J. Beaton, III IRRV TR UA, Dated March 8, 2004

      Joan Sellers, Trustee

      

      

      /s/
Kathleen L.
Cote                     
      

      By:          Kathleen
L. Cote

      

      

      /s/
James E.
Beaton                   
         

      By:          James
E. Beaton

      

      

      /s/
Ronald K.
Beaton                          

      By:          Ronald
K. Beaton

      

      

      /s/
Robert A.
Beaton             
            

      By:          Robert
A. Beaton

      
        
           

        

        
          5

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