Document:

SECURITIES
      PURCHASE AGREEMENT

     

    Securities
      Purchase Agreement dated as of November 3, 2006 (this “Agreement”)
      by and
      between 3DIcon Corporation, an Oklahoma corporation, with principal executive
      offices located at 7507 Sandusky Ave., Tulsa, Oklahoma 74136 (the “Company”),
      and
      Golden Gate Investors, Inc., a California corporation (“Holder”).
      

     

    WHEREAS,
      Holder desires to purchase from the Company, and the Company desires to issue
      and sell to Holder, upon the terms and subject to the conditions of this
      Agreement, a Convertible Debenture of the Company in the aggregate principal
      amount of $1,250,000 (the “Debenture”);
      and

     

    WHEREAS,
      upon the terms and subject to the conditions set forth in the Debenture, the
      Debenture is convertible into shares of the Company’s Common Stock (the
“Common
      Stock”);
      and

     

    WHEREAS,
      upon the satisfaction of the terms and conditions more specifically set forth
      in
      this Agreement and upon compliance with the terms of the Debenture, the Holder
      has agreed to purchase from the Company, and the Company has agreed to issue
      and
      sell to Holder, a second Convertible Debenture in the aggregate principal amount
      of $1,250,000 (the “Second Debenture”).

     

    NOW,
      THEREFORE, in consideration of the premises and the mutual covenants contained
      herein, the parties hereto, intending to be legally bound, hereby agree as
      follows:

     

    
      	I.  	
                    
                PURCHASE AND SALE OF
                DEBENTURE

            

    

     

    A.  Transaction.
      Holder
      hereby agrees to purchase from the Company, and the Company has offered and
      hereby agrees to issue and sell to Holder in a transaction exempt from the
      registration and prospectus delivery requirements of the Securities Act of
      1933,
      as amended (the “Securities
      Act”),
      the
      Debenture.

     

    B.  Purchase
      Price; Form of Payment.
      The
      purchase price for the Debenture to be purchased by Holder hereunder shall
      be
      $1,250,000 (the “Purchase
      Price”).
      Simultaneously with the execution of this Agreement, Holder shall pay $125,000
      of the Purchase Price (the “Initial Purchase Price”) by wire transfer of
      immediately available funds to the Company. Simultaneously with the execution
      of
      this Agreement, the Company shall deliver the Convertible Debenture (which
      shall
      have been duly authorized, issued and executed I/N/O Holder or, if the Company
      otherwise has been notified, I/N/O Holder’s nominee). Upon notification and
      verification that the Registration Statement for the Conversion Shares has
      been declared
      effective by the Securities and Exchange Commission (“Commission”),
      and
      such shares can legally be issued to Holder (such date, the “Effective Date”),
      Holder shall pay the Company as follows: (1) $312,500 of the Purchase Price
      by
      wire transfer of immediately available funds to the Company and, (2) the balance
      of $812,500 by wire to the Escrow Agent. The Escrow Agent shall release (by
      wire
      transfer to an account designated by the Company) $200,000 of such amount on
      the
      first day of each month, beginning with the second month following the Effective
      Date, and continuing until the full Purchase Price has been paid, provided
      that,
      at the time that any funds are to be paid by the Escrow Agent to the Company:
      (a) the value of the Conversion Shares remaining under the Registration
      Statement is at least $400,000 (calculated by multiplying the number of
      remaining shares registered under the Registration Statement that are available
      for issuance as Conversion Shares by the Volume Weighted Average Prices of
      the
      stock for the five Trading Days prior to the date that funds are to be released
      by the Escrow Agent), and (b) the Company has complied with all of the terms
      and
      conditions of the Debenture and this Agreement. 

     

    
      
        
          
            	
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    Subject
      to the two conditions set forth in subclauses (a) and (b) immediately above,
      release of amounts from the Escrow to the Company following the Effective Date
      shall be subject to no contingency whatsoever, other than the passage of time.
      Further, in the event funds are not required to be disbursed from the Escrow
      due
      to the existence of the contingency provided in subclause (a) above, the Company
      shall not be deemed to be in default under any provision of this Agreement,
      the
      Debenture or the Registration Rights Agreement by reason of the failure to
      have
      available for issuance a sufficient number of shares registered under the
      Registration Statement for conversion only as to any portion of the Purchase
      Price not yet funded or with respect to which an adequate number of Conversion
      Shares are available for issuance. 

    

    Upon
      notification and verification that the Registration Statement for the Conversion
      Shares has been declared effective by the Commission (such date, the “Effective
      Date”), and such shares can legally be issued to Holder upon payment therefore
      in accordance with the terms of this Agreement and the Debenture, the Company
      shall, concurrently with the payment to the Escrow Agent of the $812,500
      Purchase Price described in the immediately preceding paragraph, deliver that
      number of the Company’s registered Common Shares (in 20 certificates of equal
      amount) equal to $2,500,000 divided by the average of the closing prices of
      the
      Company’s Common Shares for the five Trading Days prior to the Effective Date,
      registered in the name of Holder, to Sichenzia Ross Friedman Ferrence LLP
      (“Escrow Agent”), who shall hold the shares in trust as a joint escrow agent for
      the Company and Holder. The delivery of such shares and the balance of the
      Purchase Price shall occur no later than five Business Days after the Effective
      Date. Such shares may only be released by the Escrow Agent pursuant to valid
      Debenture conversions notices submitted by Holder. Any shares not released
      to
      Holder for Debenture conversions shall be returned to the Company. It is
      understood that Holder shall not be considered the owner of the Company Common
      Shares held in escrow, and Holder agrees that it will not vote the shares in
      escrow or exercise any control whatsoever over such shares until such times
      as
      the shares are released to Holder by the Escrow Agent.

     

    C. Purchase
      of Second Debenture. At
      such
      time as the Principal Balance of the Debenture is less than $400,000, and
      provided the Company is then in compliance with the terms of the Debenture
      and
      this Agreement, the Company shall sell and the Holder shall purchase the Second
      Debenture, with the terms of the Second Debenture and payment of the purchase
      price thereof subject to the same terms and conditions of this Agreement, the
      Debenture and the Registration Rights Agreement, and when the Second Debenture
      is issued, the term “Debenture” as used in this Agreement and the Registration
      Rights Agreement shall be deemed to include the Second Debenture in all
      respects. The closing of the purchase and sale of the Second Debenture shall
      occur within thirty days of the date that the Principal Balance of the Debenture
      is less than $400,000. In the event that Holder fails to enter into the Second
      Debenture in accordance with the terms of this section, Holder shall pay the
      Company liquidated damages of $150,000.

    
      

       

      
        
          
            	
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      	II.          
               	
              HOLDER’S
                REPRESENTATIONS AND
                WARRANTIES

            

    

     

    Holder
      represents and warrants to and covenants and agrees with the Company as
      follows:

     

    1.  Holder
      is
      purchasing the Debenture and the Common Stock issuable upon conversion or
      redemption of the Debenture (the “Conversion
      Shares”
and,
      collectively with the Debenture, the “Securities”)
      for
      its own account, for investment purposes only and not with a view towards or
      in
      connection with the public sale or distribution thereof in violation of the
      Securities Act.

     

    2.  Holder
      (i) is an “accredited investor” within the meaning of Rule 501 of Regulation D
      under the Securities Act, (ii) is experienced in making investments of the
      kind
      contemplated by this Agreement, (iii) is capable, by reason of its business
      and
      financial experience, of evaluating the relative merits and risks of an
      investment in the Securities, and (iv) has had the opportunity to ask questions
      of and receive answers from management of the Company, and (v) is able to afford
      the loss of its investment in the Securities. Holder is incorporated under
      the
      laws of the state set forth in the preamble to this Agreement, and Holder’s
      principal place of business is located in such state.

     

    3.  Holder
      understands that the Securities are being offered and sold by the Company in
      reliance on an exemption from the registration requirements of the Securities
      Act and equivalent state securities and “blue sky” laws, and that the Company is
      relying upon the accuracy of, and Holder’s compliance with, Holder’s
      representations, warranties and covenants set forth in this Agreement to
      determine the availability of such exemption and the eligibility of Holder
      to
      purchase the Securities;

     

    4.  Holder
      understands that the Securities have not been approved or disapproved by the
      Commission or any state or provincial securities commission.

     

    5.  This
      Agreement has been duly and validly authorized, executed and delivered by Holder
      and is a valid and binding agreement of Holder enforceable against it in
      accordance with its terms, subject to applicable bankruptcy, insolvency,
      fraudulent conveyance, reorganization, moratorium and similar laws affecting
      creditors’ rights and remedies generally and except as rights to indemnity and
      contribution may be limited by federal or state securities laws or the public
      policy underlying such laws.

     

    6. Assuming
      the compliance by the Company with the terms of this Agreement, the Debenture
      and the Registration Rights Agreement, the Holder will fulfill its obligation
      to
      purchase the Second Debenture in accordance with the provisions of Section
      I.C.
      above.

    
      

       

      
        
          
            	
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      	III.         
               	
              THE
                COMPANY’S REPRESENTATIONS

            

    

     

    The
      Company represents and warrants to Holder that:

     

    A.  Capitalization.

     

    1.  The
      authorized capital stock of the Company consists of 250,000,000 shares of Common
      Stock and -0- shares of Series A Preferred Stock of which 95,000,000 shares
      and
      -0- shares, respectively, are issued and outstanding as of the date hereof
      and
      are fully paid and nonassessable. The amount, exercise, conversion or
      subscription price and expiration date for each outstanding option and other
      security or agreement to purchase shares of Common Stock is accurately set
      forth
      on Schedule
      III.A.1.

     

    2.  The
      Conversion Shares have been duly and validly authorized and reserved for
      issuance by the Company, and, when issued by the Company upon conversion of
      the
      Debenture, will be duly and validly issued, fully paid and nonassessable and
      will not subject the holder thereof to personal liability by reason of being
      such holder.

     

    3.  Except
      as
      disclosed on Schedule III.A.3.,
      there
      are no preemptive, subscription, “call,” right of first refusal or other similar
      rights to acquire any capital stock of the Company or other voting securities
      of
      the Company that have been issued or granted to any person and no other
      obligations of the Company to issue, grant, extend or enter into any security,
      option, warrant, “call,” right, commitment, agreement, arrangement or
      undertaking with respect to any of their respective capital stock.

     

    B.  Organization;
      Reporting Company Status.

     

    1.  The
      Company is a corporation duly organized, validly existing and in good standing
      under the laws of the state or jurisdiction in which it is incorporated and
      is
      duly qualified as a foreign corporation in all jurisdictions in which the
      failure so to qualify would reasonably be expected to have a material adverse
      effect on the business, properties, prospects, condition (financial or
      otherwise) or results of operations of the Company or on the consummation of
      any
      of the transactions contemplated by this Agreement (a “Material
      Adverse Effect”).

     

    2.  The
      Company is currently not subject to the reporting requirements of the Securities
      Exchange Act of 1934, as amended (the “Exchange
      Act”).
      The
      Common Stock is currently traded over the counter via the “pink sheets” through
      the Interdealer Trading and Quotation System (“Pink Sheets”) and the Company has
      not received any notice regarding, and to its knowledge there is no threat
      of,
      the termination or discontinuance of the eligibility of the Common Stock for
      such trading.

     

    C.  Authorization.
      The
      Company (i) has duly and validly authorized and reserved for issuance shares
      of
      Common Stock, which is a number sufficient for the conversion of the Debenture
      and (ii) at all times from and after the date hereof shall have a sufficient
      number of shares of Common Stock duly and validly authorized and reserved for
      issuance to satisfy the conversion of the Debenture in full. The Company
      understands and acknowledges the potentially dilutive effect on the Common
      Stock
      of the issuance of the Conversion Shares. The Company further acknowledges
      that
      its obligation to issue Conversion Shares upon conversion of the Debenture
      in
      accordance with this Agreement is absolute and unconditional regardless of
      the
      dilutive effect that such issuance may have on the ownership interests of other
      stockholders of the Company and notwithstanding the commencement of any case
      under 11 U.S.C. § 101 et
      seq.
      (the
“Bankruptcy
      Code”).
      In
      the event the Company is a debtor under the Bankruptcy Code, the Company hereby
      waives to the fullest extent permitted any rights to relief it may have under
      11 U.S.C. § 362 in respect of the conversion of the Debenture. The
      Company agrees, without cost or expense to Holder, to take or consent to any
      and
      all action necessary to effectuate relief under 11 U.S.C.
§ 362.

    
      

       

      
        
          
            	
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    D.  Authority;
      Validity and Enforceability.
      The
      Company has the requisite corporate power and authority to enter into the
      Documents (as such term is hereinafter defined) and to perform all of its
      obligations hereunder and thereunder (including the issuance, sale and delivery
      to Holder of the Securities). The execution, delivery and performance by the
      Company of the Documents and the consummation by the Company of the transactions
      contemplated hereby and thereby (including, without limitation, the issuance
      of
      the Debenture and the issuance and reservation for issuance of the Conversion
      Shares) have been duly and validly authorized by all necessary corporate action
      on the part of the Company. Each of the Documents has been duly and validly
      executed and delivered by the Company and each Document constitutes a valid
      and
      binding obligation of the Company enforceable against it in accordance with
      its
      terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance,
      reorganization, moratorium and similar laws affecting creditors’ rights and
      remedies generally and except as rights to indemnity and contribution may be
      limited by federal or state securities laws or the public policy underlying
      such
      laws. The Securities have been duly and validly authorized for issuance by
      the
      Company and, when executed and delivered by the Company, will be valid and
      binding obligations of the Company enforceable against it in accordance with
      their respective terms, subject to applicable bankruptcy, insolvency, fraudulent
      conveyance, reorganization, moratorium and similar laws affecting creditors’
rights and remedies generally. For purposes of this Agreement, the term
“Documents”
means
      (i) this Agreement; (ii) the Registration Rights Agreement dated as of even
      date
      herewith between the Company and Holder; and (iii) the
      Debenture.

     

    E.  Validity
      of Issuance of the Securities.
      The
      Debenture, the Conversion Shares upon their issuance in accordance with the
      Debenture will be validly issued and outstanding, fully paid and nonassessable,
      and not subject to any preemptive rights, rights of first refusal, tag-along
      rights, drag-along rights or other similar rights.

     

    F.  Non-contravention.
      The
      execution and delivery by the Company of the Documents, the issuance of the
      Securities, and the consummation by the Company of the other transactions
      contemplated hereby and thereby do not, and compliance with the provisions
      of
      this Agreement and other Documents will not, conflict with, or result in any
      violation of, or default (with or without notice or lapse of time, or both)
      under, or give rise to a right of termination, cancellation or acceleration
      of
      any obligation or loss of a material benefit under, or result in the creation
      of
      any Lien (as such term is hereinafter defined) upon any of the properties or
      assets of the Company or any of its Subsidiaries under, or result in the
      termination of, or require that any consent be obtained or any notice be given
      with respect to (i) the Articles or Certificate of Incorporation or By-Laws
      of
      the Company or the comparable charter or organizational documents of any of
      its
      Subsidiaries, in each case as amended to the date of this Agreement, (ii) any
      loan or credit agreement, debenture, bond, mortgage, indenture, lease, contract
      or other agreement, instrument or permit applicable to the Company or any of
      its
      Subsidiaries or their respective properties or assets or (iii) any Law (as
      such
      term is hereinafter defined) applicable to, or any judgment, decree or order
      of
      any court or government body having jurisdiction over, the Company or any of
      its
      Subsidiaries or any of their respective properties or assets.

    
      

       

      
        
          
            	
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    G.  Approvals.
      No
      authorization, approval or consent of any court or public or governmental
      authority is required to be obtained by the Company for the issuance and sale
      of
      the Securities to Holder as contemplated by this Agreement, except such
      authorizations, approvals and consents as have been obtained by the Company
      prior to the date hereof.

     

    H.  Full
      Disclosure.
      There is
      no fact known to the Company (other than general economic or industry conditions
      known to the public generally) that has not been fully disclosed by the Company
      through press releases or otherwise that (i) reasonably could be expected to
      have a Material Adverse Effect or (ii) reasonably could be expected to
      materially and adversely affect the ability of the Company to perform its
      obligations pursuant to the Documents.

     

    I.  Absence
      of Events of Default.
      No
“Event
      of Default”
(as
      defined in any agreement or instrument to which the Company is a party) and
      no
      event which, with notice, lapse of time or both, would constitute an Event
      of
      Default (as so defined), has occurred and is continuing.

     

    J.  Securities
      Law Matters.
      Assuming
      the accuracy of the representations and warranties of Holder set forth in
      Article II.C, the offer and sale by the Company of the Securities are exempt
      from (i) the registration and prospectus delivery requirements of the Securities
      Act and the rules and regulations of the Commission thereunder and (ii) the
      registration and/or qualification provisions of all applicable state and
      provincial securities and “blue sky” laws. The Company shall not directly or
      indirectly take, and shall not permit any of its directors, officers or
      Affiliates directly or indirectly to take, any action (including, without
      limitation, any offering or sale to any person or entity of any security similar
      to the Debenture) which will make unavailable the exemption from Securities
      Act
      registration being relied upon by the Company for the offer and sale to Holder
      of the Debenture and the Conversion Shares as contemplated by this Agreement.
      No
      form of general solicitation or advertising has been used or authorized by
      the
      Company or any of its officers, directors or Affiliates (as such term is defined
      in the Debenture) in connection with the offer or sale of the Debenture (and
      the
      Conversion Shares) as contemplated by this Agreement or any other agreement
      to
      which the Company is a party.

     

    K.  Registration
      Rights.
      Except
      as set forth on Schedule III.K.,
      no
      Person has, and as of the Closing (as such term is hereinafter defined), no
      Person shall have, any demand, “piggy-back” or other rights to cause the Company
      to file any registration statement under the Securities Act relating to any
      of
      its securities or to participate in any such registration
      statement.

     

    L.  Interest.
      The
      timely payment of interest on the Debenture is not prohibited by the Articles
      or
      Certificate of Incorporation or By-Laws of the Company, in each case as amended
      to the date of this Agreement, or any agreement, contract, document or other
      undertaking to which the Company is a party.

    
      

       

      
        
          
            	
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    M.  No
      Misrepresentation.
      No
      representation or warranty of the Company contained in this Agreement or any
      of
      the other Documents, any schedule, annex or exhibit hereto or thereto or any
      agreement, instrument or certificate furnished by the Company to Holder pursuant
      to this Agreement contains any untrue statement of a material fact or omits
      to
      state a material fact required to be stated therein or necessary to make the
      statements therein not misleading.

     

    N.  Finder’s
      Fee.
      There is
      no finder’s fee, brokerage commission or like payment in connection with the
      transactions contemplated by this Agreement for which Holder is liable or
      responsible.

     

    
      	IV.         
               	
              CERTAIN
                COVENANTS AND
                ACKNOWLEDGMENTS

            

    

     

    A.  Filings.
      The
      Company shall make all necessary Commission Filings and “blue sky” filings
      required to be made by the Company in connection with the sale of the Securities
      to Holder as required by all applicable laws, and shall provide a copy thereof
      to Holder promptly after such filing.

     

    B.  Reporting
      Status.
      In the
      event that the Company hereafter becomes subject to the reporting requirements
      of the Exchange Act, and so long thereafter as Holder beneficially owns any
      of
      the Securities, the Company shall thereafter timely file all reports required
      to
      be filed by it with the Commission pursuant to Section 13 or 15(d) of the
      Exchange Act.

     

    C.  Listing.
      Except
      to the extent the Company lists its Common Stock on The New York Stock Exchange,
      The American Stock Exchange or The Nasdaq Stock Market, the Company shall use
      its best efforts to maintain its listing of the Common Stock in the Pink Sheets.
      If the Common Stock is no longer subject to trading in the over the counter
      market via the Pink Sheets, the Company will use its best efforts to list the
      Common Stock on the most liquid national securities exchange or quotation system
      that the Common Stock is qualified to be listed on.

     

    D.  Reserved
      Conversion Common Stock.
      The
      Company at all times from and after the date hereof shall have such number
      of
      shares of Common Stock duly and validly authorized and reserved for issuance
      as
      shall be sufficient for the conversion in full of the Debenture.

     

    E.  Information.
      Each of
      the parties hereto acknowledges and agrees that Holder shall not be provided
      with, nor be given access to, any material non-public information relating
      to
      the Company.

     

    F.  Accounting
      and Reserves.
      The
      Company shall maintain a standard and uniform system of accounting and shall
      keep proper books and records and accounts in which full, true, and correct
      entries shall be made of its transactions, all in accordance with GAAP applied
      on consistent basis through all periods, and shall set aside on such books
      for
      each fiscal year all such reserves for depreciation, obsolescence, amortization,
      bad debts and other purposes in connection with its operations as are required
      by such principles so applied.

     

    G.  Transactions
      with Affiliates.
      So long
      as the Debenture is outstanding, neither the Company nor any of its Subsidiaries
      shall, directly or indirectly, enter into any material transaction or agreement
      with any stockholder, officer, director or Affiliate of the Company or family
      member of any officer, director or Affiliate of the Company, unless the
      transaction or agreement is (i) reviewed and approved by a majority of
      Disinterested Directors (as such term is hereinafter defined) and (ii) on
      terms no less favorable to the Company or the applicable Subsidiary than those
      obtainable from a nonaffiliated person. A “Disinterested
      Director”
shall
      mean a director of the Company who is not and has not been an officer or
      employee of the Company and who is not a member of the family of, controlled
      by
      or under common control with, any such officer or employee.

    
      

       

      
        
          
            	
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    H.  Certain
      Restrictions.
      So long
      as the Debenture is outstanding, no dividends shall be declared or paid or
      set
      apart for payment nor shall any other distribution be declared or made upon
      any
      capital stock of the Company, nor shall any capital stock of the Company be
      redeemed, purchased or otherwise acquired (other than a redemption, purchase
      or
      other acquisition of shares of Common Stock made for purposes of an employee
      incentive or benefit plan (including a stock option plan) of the Company or
      pursuant to any of the security agreements listed on Schedule
      III.H)
      for any
      consideration by the Company, directly or indirectly, nor shall any moneys
      be
      paid to or made available for a sinking fund for the redemption of any Common
      Stock.

     

    I. Short
      Selling/Volume Limitations.  So
      long
      as the Debenture is outstanding, Holder agrees and covenants on its behalf
      and
      on behalf of its Affiliates that neither Holder nor its Affiliates shall at
      any
      time engage in any short sales with respect to the Company’s Common Stock, or
      sell put options or similar instruments with respect to the Company’s Common
      Stock. The parties acknowledge that Holder on and after the Effective Date
      shall
      be entitled to sell the Common Stock from each Debenture conversion immediately
      upon submission of the applicable Debenture Conversion Notice, and payment
      of
      the purchase price, to the Company for such Common Stock; provided, however,
      that Holder agrees that it shall not sell any volume of Common Stock in excess
      of the greater of: (i) 15% of the daily volume of the Company’s common shares
      traded on that Trading Day (which volume may include shares of Common Stock
      traded by the Holder), or (ii) 15% of the average dollar volume (computed by
      multiplying the low price of the Common Stock by the number of shares traded)
      for the 20 Trading Days prior to the Closing Date, unless the Company gives
      its
      prior written permission to sell more shares or the sales price of the Common
      Stock received by Holder is above $1.50 per share.

     

    
      	V.          
               	
              ISSUANCE
                OF COMMON STOCK 

            

    

     

    A.  The
      Company undertakes and agrees that no instruction other than the instructions
      referred to in this Article V and customary stop transfer instructions prior
      to
      the registration and sale of the Common Stock pursuant to an effective
      Securities Act registration statement shall be given to its transfer agent
      for
      the Conversion Shares and that the Conversion Shares shall otherwise be freely
      transferable on the books and records of the Company as and to the extent
      provided in this Agreement, the Registration Rights Agreement and applicable
      law. Nothing contained in this Section V.A. shall affect in any way Holder’s
      obligations and agreement to comply with all applicable securities laws upon
      resale of such Common Stock. 

     

    B.  Holder
      shall have the right to convert the Debenture by telecopying an executed and
      completed Conversion Notice (as such term is defined in the Debenture) to the
      Company. Each date on which a Conversion Notice is telecopied to and received
      by
      the Company in accordance with the provisions hereof shall be deemed a
      Conversion Date (as such term is defined in the Debenture). In the event the
      number of registered Common Shares delivered to the Escrow Agent by the Company
      pursuant to Section I.B hereof are insufficient to cover an authorized
      Conversion by the Holder, the Company shall cause the transfer agent to transmit
      the certificates evidencing the Common Stock issuable upon conversion of the
      Debenture (together with a new debenture, if any, representing the principal
      amount of the Debenture not being so converted) to Holder via express courier,
      or if a Registration Statement covering the Common Stock has been declared
      effective by the SEC by electronic transfer, within two (2) business days after
      receipt by the Company of the Conversion Notice (the “Delivery
      Date”).

    
      

       

      
        
          
            	
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    C.  Upon
      the
      conversion of the Debenture or part thereof, the Company shall, at its own
      cost
      and expense, take all necessary action (including the issuance of an opinion
      of
      counsel) to assure that the Company's transfer agent shall issue stock
      certificates in the name of Holder (or its nominee) or such other persons as
      designated by Holder and in such denominations to be specified at conversion
      representing the number of shares of common stock issuable upon such conversion
      or exercise. The Company warrants that the Conversion Shares will be unlegended,
      free-trading, and freely transferable, and will not contain a legend restricting
      the resale or transferability of the Company Common Stock provided, on the
      Conversion Date the Holder (or its nominee) are not Affiliates of the Company
      and the Conversion Shares are being sold pursuant to an effective registration
      statement covering the Common Stock to be sold or are otherwise exempt from
      registration when sold. 

     

    D.  The
      Company understands that, in the event the number of registered Common Shares
      delivered to the Escrow Agent by the Company pursuant to Section I.B hereof
      are
      insufficient to cover an authorized Conversion by the Holder, a delay in the
      delivery of the Common Stock in the form required pursuant to this section,
      or
      the Mandatory Redemption Amount described in Section E hereof, beyond the
      Delivery Date or Mandatory Redemption Payment Date (as hereinafter defined)
      could result in economic loss to the Holder. As compensation to the Holder
      for
      such loss, the Company agrees to pay late payments to the Holder for late
      issuance of Common Stock in the form required pursuant to Section E hereof
      upon
      Conversion of the Debenture or late payment of the Mandatory Redemption Amount,
      in the amount of $100 per business day after the Delivery Date or Mandatory
      Redemption Payment Date, as the case may be, for each $10,000 of Debenture
      principal amount being converted or redeemed. The Company shall pay any payments
      incurred under this Section in immediately available funds upon demand.
      Furthermore, in addition to any other remedies which may be available to the
      Holder, in the event that the Company fails for any reason to effect delivery
      of
      the Common Stock by the Delivery Date or make payment by the Mandatory
      Redemption Payment Date, the Holder will be entitled to revoke all or part
      of
      the relevant Notice of Conversion or rescind all or part of the notice of
      Mandatory Redemption by delivery of a notice to such effect to the Company
      whereupon the Company and the Holder shall each be restored to their respective
      positions immediately prior to the delivery of such notice, except that late
      payment charges described above shall be payable through the date notice of
      revocation or rescission is given to the Company. 

     

    E.  In
      the
      event the Company is prohibited from issuing Common Stock, or upon the
      occurrence of an Event of Default (as defined in the Debenture) or for any
      reason other than pursuant to the limitations set forth herein, then at the
      Holder's election, the Company must pay to the Holder ten (10) business days
      after request by the Holder a sum of money determined by multiplying up to
      the
      then outstanding principal amount of the Debenture designated by the Holder
      by
      115%, together with accrued but unpaid interest thereon ("Mandatory Redemption
      Payment"). The Mandatory Redemption Payment must be received by the Holder
      within ten (10) business days after request ("Mandatory Redemption Payment
      Date"). Upon receipt of the Mandatory Redemption Payment, the corresponding
      Debenture principal and interest will be deemed paid and no longer outstanding.
      

    
      

       

      
        
          
            	
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    F. In
      addition to any other rights available to the Holder, if the Company fails
      to
      deliver to the Holder such Common Stock issuable upon conversion of a Debenture
      by the Delivery Date and if ten (10) days after the Delivery Date the Holder
      purchases (in an open market transaction or otherwise) shares of Common Stock
      to
      deliver in satisfaction of a sale by the Holder of the Common Stock which the
      Holder anticipated receiving upon such conversion (a "Buy-In"), then the Company
      shall pay in cash to the Holder (in addition to any remedies available to or
      elected by the Holder) the amount by which (A) the Holder's total purchase
      price
      (including brokerage commissions, if any) for the shares of Common Stock so
      purchased exceeds (B) the aggregate principal and/or interest amount of the
      Debenture for which such conversion was not timely honored, together with
      interest thereon at a rate of 15% per annum, accruing until such amount and
      any
      accrued interest thereon is paid in full (which amount shall be paid as
      liquidated damages and not as a penalty). For example, if the Holder purchases
      shares of Common Stock having a total purchase price of $11,000 to cover a
      Buy-In with respect to an attempted conversion of $10,000 of Debenture principal
      and/or interest, the Company shall be required to pay the Holder $1,000, plus
      interest. The Holder shall provide the Company written notice indicating the
      amounts payable to the Holder in respect of the Buy-In. 

     

    G.  The
      Debenture shall be delivered by the Company to the Holder pursuant to Section
      I.B. hereof on a “delivery-against-payment basis” at the Closing.

     

    
      	VI.        
                	
              CLOSING
                DATE

            

    

     

    The
      Closing shall occur by the delivery: (i) to the Holder of the certificate
      evidencing the Debenture and all other Agreements, and (ii) to the Company
      the
      Purchase Price. 

     

    
      	VII.        
               	
              CONDITIONS
                TO THE COMPANY’S
                OBLIGATIONS

            

    

     

    Holder
      understands that the Company’s obligation to sell the Debenture on the Closing
      Date to Holder pursuant to this Agreement is conditioned upon:

     

    A.  Delivery
      by Holder to the Company of the Initial Purchase Price;

     

    B.  The
      accuracy on the Closing Date of the representations and warranties of Holder
      contained in this Agreement as if made on the Closing Date (except for
      representations and warranties which, by their express terms, speak as of and
      relate to a specified date, in which case such accuracy shall be measured as
      of
      such specified date) and the performance by Holder in all material respects
      on
      or before the Closing Date of all covenants and agreements of Holder required
      to
      be performed by it pursuant to this Agreement on or before the Closing Date;
      and

    
       

      
        
          
            	
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    C.  There
      shall not be in effect any law or order, ruling, judgment or writ of any court
      or public or governmental authority restraining, enjoining or otherwise
      prohibiting any of the transactions contemplated by this Agreement.

     

    In
      the
      event Holder fails or refuses to pay the balance of the Purchase Price for
      the
      Debenture as provided for herein for any reason other than an existing Event
      of
      Default (as defined in the Debenture) of the Company, the Company shall be
      relieved of any and all further obligations hereunder or under the Debenture,
      other than the obligation to repay the then outstanding Principal Amount of
      the
      Debenture, with interest at the stated rate thereon, to Holder within ninety
      (90) days after the breach of this Agreement by Holder.

     

    
      	VIII.        
              	
              CONDITIONS
                TO HOLDER’S OBLIGATIONS

            

    

     

    The
      Company understands that Holder’s obligation to purchase the Securities on the
      Closing Date pursuant to this Agreement is conditioned upon:

     

    A.  Delivery
      by the Company of the Debenture and the other Agreements (I/N/O Holder or I/N/O
      Holder’s nominee);

     

    B.  The
      accuracy on the Closing Date of the representations and warranties of the
      Company contained in this Agreement as if made on the Closing Date (except
      for
      representations and warranties which, by their express terms, speak as of and
      relate to a specified date, in which case such accuracy shall be measured as
      of
      such specified date) and the performance by the Company in all material respects
      on or before the Closing Date of all covenants and agreements of the Company
      required to be performed by it pursuant to this Agreement on or before the
      Closing Date, all of which shall be confirmed to Holder by delivery of the
      certificate of the chief executive officer of the Company to that
      effect;

     

    C.  There
      not
      having occurred (i) any general suspension of trading in, or limitation on
      prices listed for, the Common Stock on the OTCBB/Pink Sheet, (ii) the
      declaration of a banking moratorium or any suspension of payments in respect
      of
      banks in the United States, (iii) the commencement of a war, armed hostilities
      or other international or national calamity directly or indirectly involving
      the
      United States or any of its territories, protectorates or possessions or
      (iv) in the case of the foregoing existing at the date of this Agreement, a
      material acceleration or worsening thereof;

     

    D.  There
      not
      having occurred any event or development, and there being in existence no
      condition, having or which reasonably and foreseeably could have a Material
      Adverse Effect;

     

    E.  There
      shall not be in effect any Law, order, ruling, judgment or writ of any court
      or
      public or governmental authority restraining, enjoining or otherwise prohibiting
      any of the transactions contemplated by this Agreement;

     

    F. The
      Company shall have obtained all consents, approvals or waivers from governmental
      authorities and third persons necessary for the execution, delivery and
      performance of the Documents and the transactions contemplated thereby, all
      without material cost to the Company;

    
      

       

      
        
          
            	
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    G.  Holder
      shall have received such additional documents, certificates, payment,
      assignments, transfers and other deliveries as it or its legal counsel may
      reasonably request and as are customary to effect a closing of the matters
      herein contemplated;

    

    H. Delivery
      by the Company of an enforceability opinion (subject to all normal
      qualifications and exceptions) from its outside counsel in form and substance
      satisfactory to Holder.

     

    
      	IX.        
                	
              SURVIVAL;
                INDEMNIFICATION

            

    

     

    A.  The
      representations, warranties and covenants made by each of the Company and Holder
      in this Agreement, the annexes, schedules and exhibits hereto and in each
      instrument, agreement and certificate entered into and delivered by them
      pursuant to this Agreement shall survive the Closing and the consummation of
      the
      transactions contemplated hereby. In the event of a breach or violation of
      any
      of such representations, warranties or covenants, the party to whom such
      representations, warranties or covenants have been made shall have all rights
      and remedies for such breach or violation available to it under the provisions
      of this Agreement or otherwise, whether at law or in equity, irrespective of
      any
      investigation made by or on behalf of such party on or prior to the Closing
      Date.

     

    B.  The
      Company hereby agrees to indemnify and hold harmless Holder, its Affiliates
      and
      their respective officers, directors, partners and members (collectively, the
      “Holder
      Indemnitees”)
      from
      and against any and all losses, claims, damages, judgments, penalties,
      liabilities and deficiencies (collectively, “Losses”)
      and
      agrees to reimburse Holder Indemnitees for all out-of-pocket expenses (including
      the fees and expenses of legal counsel), in each case promptly as incurred
      by
      Holder Indemnitees and to the extent arising out of or in connection
      with:

     

    1.  any
      misrepresentation, omission of fact or breach of any of the Company’s
      representations or warranties contained in this Agreement or the other
      Documents, or the annexes, schedules or exhibits hereto or thereto or any
      instrument, agreement or certificate entered into or delivered by the Company
      pursuant to this Agreement or the other Documents;

     

    2.  any
      failure by the Company to perform in any material respect any of its covenants,
      agreements, undertakings or obligations set forth in this Agreement or the
      other
      Documents or any instrument, certificate or agreement entered into or delivered
      by the Company pursuant to this Agreement or the other Documents;

     

    C.  Holder
      hereby agrees to indemnify and hold harmless the Company, its Affiliates and
      their respective officers, directors, partners and members (collectively, the
      “Company
      Indemnitees”)
      from
      and against any and all Losses, and agrees to reimburse the Company Indemnitees
      for all out-of-pocket expenses (including the fees and expenses of legal
      counsel), in each case promptly as incurred by the Company Indemnitees and
      to
      the extent arising out of or in connection with:

     

    1.  any
      misrepresentation, omission of fact or breach of any of Holder’s representations
      or warranties contained in this Agreement or the other Documents, or the
      annexes, schedules or exhibits hereto or thereto or any instrument, agreement
      or
      certificate entered into or delivered by Holder pursuant to this Agreement
      or
      the other Documents; or

    
      

       

      
        
          
            	
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    2.  any
      failure by Holder to perform in any material respect any of its covenants,
      agreements, undertakings or obligations set forth in this Agreement or the
      other
      Documents or any instrument, certificate or agreement entered into or delivered
      by Holder pursuant to this Agreement or the other Documents.

     

    D.  Promptly
      after receipt by either party hereto seeking indemnification pursuant to this
      Article VIII (an “Indemnified
      Party”)
      of
      written notice of any investigation, claim, proceeding or other action in
      respect of which indemnification is being sought (each, a “Claim”),
      the
      Indemnified Party promptly shall notify the party against whom indemnification
      pursuant to this Article VIII is being sought (the “Indemnifying
      Party”)
      of the
      commencement thereof, but the omission so to notify the Indemnifying Party
      shall
      not relieve it from any liability that it otherwise may have to the Indemnified
      Party except to the extent that the Indemnifying Party is materially prejudiced
      and forfeits substantive rights or defenses by reason of such failure. In
      connection with any Claim as to which both the Indemnifying Party and the
      Indemnified Party are parties, the Indemnifying Party shall be entitled to
      assume the defense thereof. Notwithstanding the assumption of the defense of
      any
      Claim by the Indemnifying Party, the Indemnified Party shall have the right
      to
      employ separate legal counsel and to participate in the defense of such Claim,
      and the Indemnifying Party shall bear the reasonable fees, out-of-pocket costs
      and expenses of such separate legal counsel to the Indemnified Party if (and
      only if): (x) the Indemnifying Party shall have agreed to pay such fees,
      out-of-pocket costs and expenses, (y) the Indemnified Party and the
      Indemnifying Party reasonably shall have concluded that representation of the
      Indemnified Party and the Indemnifying Party by the same legal counsel would
      not
      be appropriate due to actual or, as reasonably determined by legal counsel
      to
      the Indemnified Party, potentially differing interests between such parties
      in
      the conduct of the defense of such Claim, or if there may be legal defenses
      available to the Indemnified Party that are in addition to or disparate from
      those available to the Indemnifying Party or (z) the Indemnifying Party
      shall have failed to employ legal counsel reasonably satisfactory to the
      Indemnified Party within a reasonable period of time after notice of the
      commencement of such Claim. If the Indemnified Party employs separate legal
      counsel in circumstances other than as described in clauses (x), (y) or (z)
      above, the fees, costs and expenses of such legal counsel shall be borne
      exclusively by the Indemnified Party. Except as provided above, the Indemnifying
      Party shall not, in connection with any Claim in the same jurisdiction, be
      liable for the fees and expenses of more than one firm of legal counsel for
      the
      Indemnified Party (together with appropriate local counsel). The Indemnifying
      Party shall not, without the prior written consent of the Indemnified Party
      (which consent shall not unreasonably be withheld), settle or compromise any
      Claim or consent to the entry of any judgment that does not include an
      unconditional release of the Indemnified Party from all liabilities with respect
      to such Claim or judgment.

     

    E.  In
      the
      event one party hereunder should have a claim for indemnification that does
      not
      involve a claim or demand being asserted by a third party, the Indemnified
      Party
      promptly shall deliver notice of such claim to the Indemnifying Party. If the
      Indemnified Party disputes the claim, such dispute shall be resolved by mutual
      agreement of the Indemnified Party and the Indemnifying Party or by binding
      arbitration conducted in accordance with the procedures and rules of the
      American Arbitration Association. Judgment upon any award rendered by any
      arbitrators may be entered in any court having competent jurisdiction
      thereof.

    
      

       

      
        
          
            	
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      	X.          
               	
              GOVERNING
                LAW

            

    

     

    This
      Agreement shall be governed by and interpreted in accordance with the laws
      of
      the State of California, without regard to the conflicts of law principles
      of
      such state.

     

    
      	XI.         
               	
              SUBMISSION
                TO JURISDICTION

            

    

     

    Each
      of
      the parties hereto consents to the exclusive jurisdiction of the federal courts
      whose districts encompass any part of the City of San Diego or the state courts
      of the State of California sitting in the City of San Diego in connection with
      any dispute arising under this Agreement and the other Documents. Each party
      hereto hereby irrevocably and unconditionally waives, to the fullest extent
      it
      may effectively do so, any defense of an inconvenient forum or improper venue
      to
      the maintenance of such action or proceeding in any such court and any right
      of
      jurisdiction on account of its place of residence or domicile. Each party hereto
      irrevocably and unconditionally consents to the service of any and all process
      in any such action or proceeding in such courts by the mailing of copies of
      such
      process by registered or certified mail (return receipt requested), postage
      prepaid, at its address specified in Article XVII. Each party hereto agrees
      that
      a final judgment which is not subject to further appeal in any such action
      or
      proceeding shall be conclusive and may be enforced in other jurisdictions by
      suit on the judgment or in any other manner provided by law.

     

    
      	XII.          
              	
              WAIVER
                OF JURY TRIAL

            

    

     

    TO
      THE FULLEST EXTENT PERMITTED BY LAW, EACH OF THE PARTIES HERETO HEREBY
      KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ITS RESPECTIVE RIGHTS TO A
      JURY
      TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
      AGREEMENT OR ANY OTHER DOCUMENT OR ANY DEALINGS BETWEEN THEM RELATING TO THE
      SUBJECT MATTER OF THIS AGREEMENT AND OTHER DOCUMENTS. EACH PARTY HERETO (i)
      CERTIFIES THAT NEITHER OF THEIR RESPECTIVE REPRESENTATIVES, AGENTS OR ATTORNEYS
      HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE
      EVENT
      OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (ii) ACKNOWLEDGES
      THAT
      IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
      MUTUAL WAIVERS AND CERTIFICATIONS HEREIN.

     

    
      	XIII.      
              s 	
              COUNTERPARTS;
                EXECUTION

            

    

     

    This
      Agreement may be executed in counterparts, each of which when so executed and
      delivered shall be an original, but both of which counterparts shall together
      constitute one and the same instrument. A facsimile transmission of this signed
      Agreement shall be legal and binding on both parties hereto.

    
      

       

      
        
          
            	
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      	XIV.      
               	
              HEADINGS

            

    

     

    The
      headings of this Agreement are for convenience of reference and shall not form
      part of, or affect the interpretation of, this Agreement.

     

    
      	XV.       
               	
              SEVERABILITY

            

    

     

    In
      the
      event any one or more of the provisions contained in this Agreement or in the
      other Documents should be held invalid, illegal or unenforceable in any respect,
      the validity, legality and enforceability of the remaining provisions contained
      herein or therein shall not in any way be affected or impaired thereby. The
      parties shall endeavor in good-faith negotiations to replace the invalid,
      illegal or unenforceable provisions with valid provisions, the economic effect
      of which comes as close as possible to that of the invalid, illegal or
      unenforceable provisions.

     

    
      	XVI.     
                	
              ENTIRE
                AGREEMENT; REMEDIES, AMENDMENTS AND
                WAIVERS

            

    

     

    This
      Agreement and the Documents constitute the entire agreement between the parties
      hereto pertaining to the subject matter hereof and supersede all prior
      agreements, understandings, negotiations and discussions, whether oral or
      written, of such parties. No supplement, modification or waiver of this
      Agreement shall be binding unless executed in writing by both parties. No waiver
      of any of the provisions of this Agreement shall be deemed or shall constitute
      a
      waiver of any other provision hereof (whether or not similar), nor shall such
      waiver constitute a continuing waiver unless otherwise expressly
      provided.

     

    
      	XVII.    
               	
              NOTICES

            

    

     

    Except
      as
      may be otherwise provided herein, any notice or other communication or delivery
      required or permitted hereunder shall be in writing and shall be delivered
      personally, or sent by telecopier machine or by a nationally recognized
      overnight courier service, and shall be deemed given when so delivered
      personally, or by telecopier machine or overnight courier service as
      follows:

     

    A.  
If
      to the
      Company, to:

     

    3D
      Icon
      Corporation

    7507
      Sandusky Ave.

    Tulsa,
      Oklahoma 74136

    Telephone: 918-492-5082

    Facsimile: 918-492-5367

    
      

       

      
        
          
            	
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    With
      a
      copy to:

     

    John
      M.
      O’Connor

    Newton,
      O’Connor, Turner & Ketchum

    15
      W.
      Sixth Street, Suite 2700

    Tulsa,
      Oklahoma 74119

    Telephone: 918-587-0101

    Facsimile: 918-587-0102

     

    B. 
 If
      to
      Holder, to:

     

    Golden
      Gate Investors, Inc.

    7817
      Herschel Avenue, Suite 200

    La
      Jolla,
      California 92037

    Telephone: 858-551-8789

    Facsimile: 858-551-8779

     

    The
      Company or Holder may change the foregoing address by notice given pursuant
      to
      this Article XVII.

     

    
      	XVIII.   
               	
              CONFIDENTIALITY

            

    

     

    Each
      of
      the Company and Holder agrees to keep confidential and not to disclose to or
      use
      for the benefit of any third party the terms of this Agreement or any other
      information which at any time is communicated by the other party as being
      confidential without the prior written approval of the other party; provide,
      however, that this provision shall not apply to information which, at the time
      of disclosure, is already part of the public domain (except by breach of this
      Agreement) and information which is required to be disclosed by law (including,
      without limitation, pursuant to Item 601(b)(10) of Regulation S-K under the
      Securities Act and the Exchange Act).

     

    
      	XIX.        
              	
              ASSIGNMENT

            

    

     

    This
      Agreement shall not be assignable by either of the parties hereto.

     

    IN
      WITNESS WHEREOF, the parties hereto have duly caused this Agreement to be
      executed and delivered on the date first above written.

     

    
      	3DIcon Corporation	 	Golden Gate Investors,
              Inc.
	 	 	 
	 	 	 
	By:
 /s/
              Martin Keating	 	
              By:

            	/s/ Travis Huff
	
              
                

              

            	 	 	
              

            
	Title: Chief Executive Officer	 	Title:
              Portfolio
              Manager, Vice President

    

    

     

    
      
        
          	
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        16COMBINED
      AMENDMENT NO. 1 

    TO
      SECURITIES PURCHASE AGREEMENT

    AND
      DEBENTURE

     

    This
      Amendment No. 1 to the Securities Purchase Agreement and the First Debenture,
      as
      defined below, (this “Amendment”)
      is
      entered to be effective as of the 15th day of December, 2006, by 3DIcon
      Corporation, an Oklahoma corporation, with principal executive offices located
      at 7507 Sandusky Ave., Tulsa, Oklahoma 74136 (the “Company”),
      and
      Golden Gate Investors, Inc., a California corporation (“Holder”).
      

     

    WHEREAS,
      Holder
      and the Company desire to amend the terms of the Securities Purchase Agreement
      dated as of November 3, 2006 (the “Securities
      Purchase Agreement”),
      and
      the terms of the 61⁄4% Convertible Debenture dated November 3, 2006 (the
“First
      Debenture”)
      in
      order to clarify the terms and conditions pursuant to which the Company may
      elect to sell to Holder, and Holder is obligated to purchase, an additional
      debenture in the original principal amount of $1,250,000 (the “Second Debenture”);

    

    ARTICLE
      I

    

    AMENDMENTS
      TO SECURITIES PURCHASE AGREEMENT

    

    NOW,
      THEREFORE,
      in
      consideration of the above, and for other good and valuable consideration,
      the
      receipt and sufficiency of which is hereby acknowledged, the parties hereto
      agree as follows.

    

    1.1 All
      terms
      used herein and not otherwise defined herein shall have the definitions set
      forth in the Securities Purchase Agreement and in the First
      Debenture.

    

    1.2 Section
      I.C. of the Securities Purchase Agreement is hereby amended in its entirety
      as
      follows:

    

    C. Additional
      Investment Right. At
      such
      time as the Principal Balance of the Debenture is less than $400,000, and
      provided the Company is then in compliance with the terms of the Debenture
      and
      this Agreement, the Company shall have the option to require the Holder to
      purchase the Second Debenture, with the terms of the Second Debenture and
      payment of the purchase price thereof subject to the same terms and conditions
      of this Agreement and the Debenture, except that the Conversion Price in Section
      3.1 for the Second Debenture shall be the lesser of: (i) $2.00, or (ii) 90%
      of
      the average of the five lowest Volume Weighted Average Prices during the twenty
      Trading Days prior to GGI’s election to convert. When the Second Debenture is
      issued, the term “Debenture” as used in this Agreement shall be deemed to
      include the Second Debenture in all respects. The closing of the purchase and
      sale of the Second Debenture shall occur within thirty days of the date that
      (i)
      the Principal Balance of the Debenture is less than $400,000, and (ii) the
      Company gives written notice to the Holder exercising the option to require
      the
      sale of the Second Debenture (“Subsequent Closing Date”). In the event that
      Holder fails to fund the Second Debenture in accordance with the terms of this
      section, Holder shall pay the Company liquidated damages of $250,000 within
      ten
      (10) days of the Second Closing Date.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    1.3 Section
      II.6. of the Securities Purchase Agreement is hereby amended in its entirety
      as
      follows:

     

    Assuming
      the compliance by the Company with the terms of this Agreement, as amended,
      the
      Debenture and the Registration Rights Agreement, the Holder agrees to purchase
      the Second Debenture in accordance with the provisions of Section I.C.
      above.

    

    1.4 All
      other
      terms and provisions of the Securities Purchase Agreement in direct conflict
      with the amendments specifically set forth herein are hereby amended to conform
      to these amendments; and except for these amendments, all other terms and
      conditions of the Securities Purchase Agreement shall remain unamended hereby
      and in full force and effect.

    

    ARTICLE
      II

    

    AMENDMENTS
      TO FIRST DEBENTURE

    

    2.1 All
      terms
      used herein and not otherwise defined herein shall have the definitions set
      forth in the First Debenture and in the Securities Purchase
      Agreement.

    

    2.2 The
      third
      sentence of the first paragraph of Section 3.1 of the First Debenture is hereby
      deleted and replaced with the following sentence:

    

    The
      “Conversion
      Price”
shall
      be equal to the lesser of: (i) $2.00, or (ii) 70% of the average of the five
      lowest Volume Weighted Average Prices during the twenty Trading Days prior
      to
      Holder’s election to convert (the percentage figure being a “Discount
      Multiplier”). The
      Company reserves the right to increase the number of Trading Days in clause
      (ii)
      above, as it deems appropriate.

    

    2.3 All
      other
      terms and provisions of the First Debenture in direct conflict with the
      amendments specifically set forth herein are hereby amended to conform to these
      amendments; and except for these amendments, all other terms and conditions
      of
      the First Debenture shall remain unamended hereby and in full force and
      effect.

     

    
      
         

         

      

      
        2

        
          

        

      

       

    

    ARTICLE
      III

    

    AMENDMENTS
      TO BOTH 

    SECURITIES
      PURCHASE AGREEMENT AND TO FIRST DEBENTURE

    

    3.1 Entire
      Agreement.
      This
      Amendment, together with the Securities Purchase Agreement, the First Debenture
      and Registration Rights Agreement, embodies the entire agreement and
      understanding between the Company and Holder relating to the subject matter
      hereof and supersedes all prior agreements and understandings relating to such
      subject matter.

    

    3.2 Severability.
      If any
      provision of this Amendment, or the application of such provisions to any Person
      or circumstance, shall be held invalid, the remainder of this Amendment, or
      the
      application of such provision to Persons or circumstances other than those
      to
      which it is held invalid, shall not be affected thereby.

    

    3.3 Counterparts.
      This
      Amendment may be executed in one or more counterparts, and by the different
      parties hereto in separate counterparts, each of which when executed shall
      be
      deemed to be an original, but all of which taken together shall constitute
      one
      and the same agreement. A facsimile transmission of this signed Amendment shall
      be legal and binding on all parties hereto. 

     

    [Signature
      Page Follows]

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto have duly caused this Amendment to be executed and delivered
      on
      the date first above written.

     

    
      	 	 	 
	3DIcon
              Corporation	Golden Gate Investors, Inc.
	 
 	 
 	 
 
	By:  
              /s/
              Martin Keating	By:  	/s/ Travis
              Huff
	
              
                
 

            	
              

            
	Title:
              President
              and C.E.O.	
              Title:
                Portfolio Manager and 

              Vice
                President

            

    
      
         

      

      
        4

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