Document:

Exhibit 10.13

 

Capital Note

 

US Dollars 8,437,954

 

This Capital Note of
Lifewatch Holding Corporation (“Lifewatch”)
of 1351 A Abbott court Buffalo Grove, Illinois, USA, (the “Company”), in favor of Card Guard
Scientific Survival Ltd., an Israeli corporation (the “Holder”).

 

1.                         The
Company hereby issues to the Holder this Capital Note in the amount of
US$8,437,954 (Eight million four hundred and thirty seven thousands nine
hundred and fifty four US Dollars), (the “Note
Amount”).

 

2.                         The
Company may repay the Note Amount to the Holder at such time as the Company and
the Holder shall jointly determine. If so decided, the Note Amount shall be
paid at the Company’s registered office, or such other address designated by
the Company, against delivery of this Capital Note. Should the Company fail to
pay its obligations under the note Holder shall be entitled to all remedies
available to it hereunder and under any applicable laws.

 

3.                         This
Capital Note is not secured by any pledge, lien or charge of any kind.

 

4.                         This
Capital Note shall bear no interest.

 

5.                         This
Capital Note shall be paid in lowful currency of the USA and shall be wire
transferred to Card Guard bank account according to its instructions.

 

6.                         Subordination.
The Company’s obligation of repayment of the Note Amount shall be subordinate
and rank junior to all other current debt obligations of the Company.

 

7.                         The
Company shall not be liable for any default or delay in performing its
obligations under this Capital Note that is the result of “force majeure”.

 

8.                         The
Holder may not transfer, assign or otherwise dispose of this Capital Note and
the Holder’s rights and obligations hereunder, in whole or in part, except with
the written consent of the Company. This Capital Note shall be binding upon and
inure to the benefit of each party’s successors and permitted assigns.

 

9.                         Any
person receiving title to the Capital Note shall be bound by these terms of
Capital Note and shall have the right to be registered in the Company’s books
as holder of the Capital Note, upon producing adequate evidence to its title to
the Capital Note.

 

10.                   Severability.
In the event that any one of the provisions of this Capital Note is for any
reason held to be invalid or unenforceable, the remaining provisions of

 

1

 

this Capital Note will be
unimpaired, and the invalid or unenforceable provision will be replaced by a
mutually acceptable provision, which being valid and enforceable, comes closest
to the intention of the parties underlying the invalid or unenforceable
provision.

 

11.                   Governing
Law; Dispute Resolution. This Capital Note shall be governed by and
construed in accordance with the laws of the State of Delaware (without regard
to the conflict of laws principles thereof).

 

 

IN WITNESS
WHEREOF, the parties hereto have executed this Capital Note
as of the date first written above.

 

 

	
   

  	
  Lifewatch
  Holding Corporation.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
    8.12.04

  	
   

  

 

2Exhibit 10.14

 

LOAN AGREEMENT

 

Made and entered into on the 11th day of
September, 2000

 

By and between:

 

CARD GUARD SCIENTIFIC SURVIVAL LTD.

(Hereinafter referred to as CG)

Party of the first part

 

And

 

CARD GUARD TECHNOLOGIES, INC.

(Hereinafter referred to as the “Company”)

Party of the second part,

 

Whereas:
CG intends to make a loan in the aggregate principal amount of USD $2,000,000
to the Company (the “Loan”); and

 

Whereas:
The parties desire to set forth the terms applicable to the loan,

 

Now,
therefore, the parties have agreed as follows:

 

1. Preamble

 

The preamble to this
Agreement constitutes an integral part hereof.

 

2. The Loan

 

CG hereby makes a Loan in
the aggregate principal amount of USD $2,000,000 to the Company, and the
company agrees to accept the Loan under the terms and conditions set forth
herein.

 

3. Loan’s Period

 

The entire principal of
the Loan shall be repaid by the Company to CG 5 (five) years from the date
herein. Notwithstanding the forgoing, in the event that the Company does not
repay the Loan at the end of the 5 years period, the Loan will automatically be
renewed for the additional 5 years period with the same terms as those stated

 

 

herein. The principal
balance of the Loan and all accrued interest may be prepaid at anytime without
penalty.

 

4. Interest Rate

 

The Loan shall bear
interest at an annual rate of 8.5 percent (%). Each year on January 1st
new rate will be established as follows;

 

•       In
case that the LIBOR rate for 6 months (currently 6.375%) will change more than
two (2) percents, the new rate shall be 8.5 percents + the actual change in the
LIBOR rate.

 

•          In
case that the LIBOR rate for 6 months will change less than two (2) percents
from the current rate, the new rate will remain 8.5 percents.

 

Interest shall be accrued
and compounded on a monthly basis. The entire Loan proceeds and accrued
interest shall become due and payable at the term of the Loan.

 

5. Events of Default
and Acceleration

 

If any of the following
events occur, the Lender may, at its option, declare all amounts owed to it
hereunder to be immediately due and payable:

 

(a)                     if the
Borrower shall fail to pay any principal when due;

 

(b)                    if any
statement, representation or warranty made or given in this Agreement shall, at
any time, be breached, or shall be or be found to have been untrue or incorrect
in a material respect when given or deemed given;

 

(c)                     if the
Borrower makes an assignment for the benefit of its creditors, or shall
generally fail to pay its debts when due or shall be adjudicated insolvent or
bankrupt or if these is commenced against the Borrower any proceedings under
any bankruptcy or similar; or

 

(d)                    if the
Borrower shall default in the performance of or compliance with any other term,
condition or covenant contained in the Agreement and such default shall not
have been remedied within five days after receipt of written notice thereof by
the Borrower.

 

 

6. Entire Agreement

 

This Agreement embodies
the entire understanding between the parties with respect to the Loan. No
modifications shall be effective unless made in writing and signed by the
parties.

 

WITNESS the signatures of
the parties on the date set forth above.

 

 

	
  /s/
  [ILLEGIBLE]

  	
   

  
	
  CARD
  GUARD SCIENTIFIC SURVIVAL LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/
  [ILLEGIBLE]

  	
   

  
	
  CARD
  GUARD TECHNOLOGIES, INC.Exhibit 10.15

 

LOAN AGREEMENT

 

Made and
entered into on the 28th day of October, 2002

 

By and
between:

 

CARD GUARD SCIENTIFIC SURVIVAL LTD.

(Hereinafter referred to as CG)

Party of the first part

 

And

 

LIFEWATCH HOLDINGS, INC.

(Hereinafter referred to as the “Company”)

Party of the second part,

 

Whereas:
CG intends to make a loan in the aggregate principal amount of USD $1,500,000
to the Company (the “Loan”); and

 

Whereas.
The parties desire to set forth the terms applicable to the loan;

 

Now,
therefore, the parties have agreed as follows:

 

1. Preamble

 

The preamble to this
Agreement constitutes an integral part hereof.

 

2. The Loan

 

CG hereby makes a Loan in
the aggregate principle amount of USD $1,500,000 to the Company, and the
company agrees to accept the Loan under the terms and conditions set forth
herein.

 

3. Loan’s Period

 

The entire principle of
the Loan shall be repaid by the Company to CG 5 (five) years from the date
herein. Notwithstanding the foregoing, in the event that the Company does not
repay the Loan at the end of the 5 years period, the Loan will automatically be
renewed for the additional 5 years period with the same terms as these stated
herein. The principal balance of the Loan and all accrued interest may be
prepaid at anytime without penalty.

 

 

4. Interest Rate

 

The Loan shall bear
interest at an annual rate of 3.251 percent (%). Each year on October 29th  new rate will be established as
follows:

 

•         In
case that the LIBOR rate for 6 months (currently 1.751%) will change more than
two (2) percents, the new rate shall be 3.251 percents + the actual change in
the LIBOR rate.

 

•       In
case that the LIBOR rate for 6 months will change less that two (2) percents
from the current rate, the new rate will remain 3.251 percents.

 

Interest shall be accrued
and compounded on a monthly basis. The entire Loan proceeds and accrued
interest shall become due and payable at the term of the Loan.

 

5. Events of Default
and Acceleration

 

If any of the following
events occur, the Lender may, at its option, declare all amounts owed to it
hereunder to be immediately due and payable:

 

(a)                     if the
Borrower shall fail to pay any principal when due;

 

(b)                    if any
statement, representation or warranty made or given in this Agreement shall, at
any time, be breached, or shall he or be found to have been untrue or incorrect
in a material respect when given or deemed given;

 

(c)                     if the
Borrower makes an assignment for the benefit of its creditors, or shall
generally fail to pay its debts when due or shall be adjudicated insolvent or
bankrupt or if the lease is commenced against the Borrower any proceedings
under any bankruptcy or similar; or

 

(d)                    If the
Borrower shall default in the performance of or compliance with any other term,
condition or covenant contained in the Agreement and such default shall not
have been remedied within five days after receipt of written notice thereof by
the Borrower.

 

6. Entire Agreement

 

 

This
Agreement embodies the entire understanding between the parties with respect to
the Loan. No modifications shall be effective unless made in writing and signed
by the parties

 

WITNESS the signature of the parties on the date set forth above

 

 

	
  /s/
  [ILLEGIBLE]

  	
   

  
	
  CARD GUARD SCIENTIFIC SURVIVAL LTD.

  
	
   

  
	
   

  
	
  /s/
  [ILLEGIBLE]

  	
   

  
	
  LIFEWATCH HOLDINGS, INC.

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