Document:

ASSIGNMENT
OF PROMISSORY NOTE

        

        1.           Assignment.  For
value received, Regent Private Capital, LLC (“Assignor”) hereby sells, assigns,
transfers and conveys to Fountainhead Capital Partners Limited (“Assignee”) all
of the Assignor's rights, title and interest in that certain Promissory Note in
the original face amount of $150,000 issued by Altitude Group, LLC (“Altitude”)
in favor of Assignor dated as of December 29, 2009 (the “Note”).

         

        2.           Assignor’s
Representations. Assignor represents and warrants to Assignee as
follows:

         

         

        (a)           The
Assignor has good, valid and marketable title to its interest in the Note, free
and clear from all security interests or encumbrances.

         

         

        (b)           The
Assignor has not assigned, pledged, hypothecated or otherwise encumbered its
interest in the Note. Upon delivery of this duly executed assignment to the
Assignee pursuant to this Agreement, the Assignee will acquire valid title
thereto, free and clear of any security interests.

         

        3.           Acceptance by
Assignee.  Assignee hereby accepts this assignment on the terms
and conditions set forth herein.

        

        4.           Counterparts; Facsimile
Signatures.  This assignment may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.  The exchange of copies of
this assignment or amendments thereto and of signature pages by facsimile
transmission or by email transmission in portable digital format, or similar
format, shall constitute effective execution and delivery of such instrument(s)
as to the parties and may be used in lieu of the original Agreement or amendment
for all purposes.  Signatures of the parties transmitted by facsimile
or by email transmission in portable digital format, or similar format, shall be
deemed to be their original signatures for all purposes.

        

        IN
WITNESS WHEREOF, the parties have executed this Assignment of Note to be
effective as of the 29th day of December 2009.

        

        
          ASSIGNEE

           

          
            
              	
                      FOUNTAINHEAD
      CAPITAL MANAGEMENT LIMITED

                    
	 
      	 
      
	
                      /s/
      Robert Diener

                    	 
      
	
                      By: 
      Robert Diener, Authorized Signatory

                    	 
      
	 	 

            

          

          ASSIGNOR

          

          
            
              	
                      REGENT
      PRIVATE CAPITAL, LLC

                    
	 
      	 
      	 
	
                      By:

                    	/s/
      Lawrence Field	 
	 	
                      Lawrence
      Field

                      Managing Director

                    	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

            

          

          
            
              

            

             

            
              
                 

              

              
                 

                
                  

                

              

              
                 

              

            

          

        

      

       

      PROMISSORY
NOTE

       

    

    
      
        	
                $150,000

              	
                New
      York, New York

              
	 
      	
                December
      29, 2009

              

      

    

    

    FOR VALUE RECEIVED, the
undersigned promises to pay to the order of Regent Private Capital, LLC or its
assignees the sum of One Hundred Fifty Thousand ($150,000) Dollars, on
December 28, 2010, together with accrued interest thereon at the rate of five
percent (5%) per annum, except that interest shall accrue at the rate of eight
percent (8%) per annum following the occurrence of an event of default
hereunder. Payments shall be first applied to interest and the balance to
principal. This note may be prepaid at any time, in whole or in part, without
penalty.

     

    Notwithstanding
the foregoing, the unpaid principal amount of this note and interest thereon
shall immediately become due and payable at the election of the holder of this
note, upon the occurrence of any of the following events of
default:

     

    
      	
               
      

            	
              1.

            	
              Failure
      to pay the unpaid principal amount of this note or any interest thereon
      when due.

            

    

     

    
      	
               
      

            	
              2.

            	
              Death
      of the undersigned.

            

    

     

    
      	
               
      

            	
              3.

            	
              Filing
      by the undersigned of an assignment for the benefit of creditors,
      bankruptcy or other form of insolvency, or by suffering an involuntary
      petition in bankruptcy or receivership not vacated within thirty (30)
      days.

            

    

     

    If this
note shall be in default and placed for collection, the undersigned shall pay
all reasonable attorney fees and costs of collection.

     

    Payments
shall be made to such address as may from time to time be designated by any
holder.

     

    The
undersigned and all other parties to this note, whether as endorsers, guarantors
or sureties, shall remain fully bound until this note is paid and waive demand,
presentment and protest and all notices thereto and further agree to remain
bound, notwithstanding any extension, modification, waiver, or other indulgence
or discharge or release of any obligor hereunder. No modification or indulgence
by any holder hereof shall be binding unless in writing; and any indulgence on
any one occasion shall not be an indulgence for any other or future occasion.
The rights of any holder hereof shall be cumulative and not necessarily
successive. This note shall be governed and enforced in accordance with the laws
of New York.  

     

    
      
        
          
            
              
                
                  
                    	 
      	
                            ALTITUDE
      GROUP, LLC

                          
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
                            By:

                          	/s/
      Michael W. Kreizman	 
      
	 
      	 
      	
                            Michael
      W. Kreizman, M.D.Unassociated Document

     

    THIS NOTE
HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR
ANY APPLICABLE STATE LAW, AND MAY NOT BE SOLD, OFFERED FOR SALE, DISTRIBUTED,
ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED UNLESS (A) THERE IS AN
EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE, OR FOREIGN
SECURITIES LAWS COVERING ANY SUCH TRANSACTION OR (B) SUCH TRANSACTION IS EXEMPT
FROM REGISTRATION.

     

    CONVERTIBLE
PROMISSORY NOTE

     

    
      	
              $450,000.00

            	
              December
      ___, 2009

            
	 
      	
              Rochester,
      New York

            

    

     

    FOR VALUE
RECEIVED, Document Security Systems, Inc. (the “Company”, “Document Security
Systems”, or “Borrower”),.promises to pay to Printers, LLC, a Washington limited
liability company (the “Lender”), or to its order, the principal sum of $450,000
(the “Principal Amount”), together with interest in arrears on the unpaid
principal balance from time to time outstanding from the date hereof until the
entire Outstanding Amount (as defined in Section 1 below) is paid in
full.

     

    1.           Maturity. The
aggregate Principal Amount, together with all accrued interest and penalties
thereon and expenses incurred by the Lender in connection herewith
(cumulatively, the “Outstanding Amount”), shall be due and payable in full on
the earliest to occur of (the earliest of such events, the “Maturity Date”): (i)
June ___, 2012 and (ii) the automatic acceleration of this Note upon the
occurrence of an Event of Default.

     

    2.           Interest. Interest
shall accrue on the then outstanding principal balance of this Note at a fixed
interest rate per annum equal to 8%. Accrued interest shall be payable in cash
in arrears on the last day of each calendar quarter commencing on December 31,
2009, until the outstanding principal balance is paid in full. If at any time
the principal balance of this Note shall be paid in full, then all accrued
interest shall be payable at the time of such principal payment.  In
the case of an Event of Default (Section 9), interest shall accrue on the then
outstanding principal balance of this Note at a fixed interest rate per annum
equal to 12% until such Event of Default is cured.

    

    3. Conversion.

     

    3.1.
Optional
Conversion. At any time on or prior to the Maturity Date, the outstanding
principal balance of this Note and any accrued but unpaid interest thereon may,
at the sole option of the Lender, be converted, in whole or in part, into fully
paid and non-assessable shares of Document Security Systems, Inc.’s common
stock, par value $0.02 per share (the “Common Stock”), at a conversion price
equal to $1.73 per share (the “Conversion Price”), subject to adjustment as set
forth herein.  Conversions can only be made in minimum increments of
20,000 shares.

     

    3.2.
Mechanics of
Conversion. The Lender shall notify the Borrower of its election to
convert all or part of this Note in accordance with Section 3.1. The
Borrower shall, as soon as practicable but in no event later than five days
following its receipt of such notice, issue and deliver to Lender a certificate
or certificates for the number of shares of Common Stock to which such holder
shall be entitled, together with cash in lieu of any fractional share in
accordance with Section 3.3. This Note shall be deemed to have been
converted and a certificate or certificates for shares of Common Stock shall be
deemed to have been issued, and the Lender or any other person so designated to
be named therein shall be deemed to have become a holder of record of such
shares for all purposes as of the date said notice is received by the Borrower.
If this Note shall have been converted in part, the Borrower shall, at the time
of delivery of said certificate or certificates, deliver to the Holder a new
Note evidencing the remaining outstanding principal balance of this Note, which
new Note shall in all other respects be identical with this Note. Upon
conversion of this Note in full, this Note shall no longer be deemed to be
outstanding and all rights with respect to this Note shall immediately cease and
terminate on such conversion date, except only the right of the Holder to
receive the shares of Common Stock to which it is entitled as a result of the
conversion.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.3.
Fractional
Shares. No fractional shares of Common Stock shall be issued upon
conversion of this Note. In lieu of any fractional shares to which the holder
would otherwise be entitled, the Borrower shall pay cash equal to such fraction
multiplied by the Conversion Price.

     

    3.4.
Subdivision or
Combination of Common Stock. If Document Security Systems at any time
subdivides (by any stock split, stock dividend, recapitalization or otherwise)
its outstanding shares of Common Stock into a greater number of shares, the
Conversion Price in effect immediately prior to such subdivision will be
proportionately reduced, and if Document Security Systems at any time combines
(by reverse stock split, recapitalization or otherwise) its outstanding shares
of Common Stock into a smaller number of shares, the Conversion Price in effect
immediately prior to such combination will be proportionately
increased.

     

    3.5.
Merger, Consolidation
or Sale of Assets. If there shall be a merger or consolidation of
Document Security Systems with or into another entity (other than a merger or
reorganization involving only a change in the state of incorporation of Document
Security Systems), or the sale of all or substantially all of Document Security
Systems’ capital stock or assets to any other person, then as a part of such
transaction, provision shall be made so that Lender shall thereafter be entitled
to receive the number of shares of stock or other securities or property of
Document Security Systems or of the successor corporation resulting from the
merger, consolidation or sale, to which the Lender would have been entitled if
the Lender had converted this Note immediately prior thereto.

    

    3.6.
Notice of Adjustment
to Conversion Price. Upon any adjustment or other change relating to the
Conversion Price or the securities issuable upon the conversion of this Note,
then, and in each such case, the Borrower shall give written notice thereof,
which notice shall state the Conversion Price resulting from such adjustment and
the increase or decrease in the number or other denominations of securities
issuable at such price upon the conversion of this Note setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based.

     

    3.7.
Reservation of
Shares. Document Security Systems covenants that it will at all times
until this Note is paid or converted in full under the terms hereof reserve and
keep available out of its authorized and unissued Common Stock, solely for the
purpose of issue upon conversion of this Note, such number of shares of Common
Stock as shall then be issuable upon the conversion of this Note.
  

     

    3.8.
Notice to Allow
Conversion. If (A) Document Security Systems shall declare a
dividend (or any other distribution in whatever form, including without
limitation the distribution of the Company’s common shares of Internet Media
Services (“IMS”) which the Company acquired as the result of the sale of the
Company’s assets in Legalstrore.com to IMS in October 2009) on the Common Stock,
(B) Document Security Systems shall declare a special nonrecurring cash
dividend on or a redemption of the Common Stock, (C) Document Security
Systems shall authorize the granting to all holders of the Common Stock of
rights or warrants to subscribe for or purchase any shares of capital stock of
any class or of any rights, (D) the approval of any stockholders of
Document Security Systems shall be required in connection with any
reclassification of the Common Stock, any consolidation or merger to which
Document Security Systems is a party, any sale or transfer of all or
substantially all of the assets of Document Security Systems, any compulsory
share exchange whereby the Common Stock is converted into other securities, cash
or property or any transaction described in Section 3.5 of this Note or
(E) Document Security Systems shall authorize the voluntary or involuntary
dissolution, liquidation or winding up of the affairs of Document Security
Systems, then, in each case, Document Security Systems shall deliver to the
Lender, at least twenty (20) calendar days prior to the applicable record
or effective date hereinafter specified, a notice stating (x) the date on
which a record is to be taken for the purpose of such dividend, distribution,
redemption, rights or warrants, or if a record is not to be taken, the date as
of which the holders of the Common Stock of record to be entitled to such
dividend, distributions, redemption, rights or warrants are to be determined or
(y) the date on which such reclassification, consolidation, merger, sale,
transfer or share exchange is expected to become effective or close, and the
date as of which it is expected that holders of the Common Stock of record shall
be entitled to exchange their shares of the Common Stock for securities, cash or
other property deliverable upon such reclassification, consolidation, merger,
sale, transfer or share exchange. The Holder is entitled to convert this Note
during the 20-day period commencing on the date of such notice through the
effective date of the event triggering such notice.

     

    
      
         

      

      
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    3.9           Registration
Rights.  The Lender will be entitled to the benefits of a
Registration Rights Agreement, dated as of the date of this Note, between the
Company and the Lender (the “Registration Rights
Agreement”).

     

    4. Optional Borrower
Redemption. At any time on or before December 5, 2011, the Borrower
shall have the right to redeem this Note for a price equal to the Outstanding
Amount.   Borrower shall give Lender 20 days advance notice of
its intention to redeem and Lender shall have the right to convert this Note
pursuant to Section 3.1 during such 20 day period.

    

    5.           Usury.  All
agreements between the Borrower and the Lender are hereby expressly limited so
that in no contingency or event whatsoever, whether by reason of acceleration of
maturity of the indebtedness evidenced hereby or otherwise, shall the amount
paid or agreed to be paid to the Lender for the use, forbearance, or detention
of the indebtedness evidenced hereby exceed the maximum permissible amount under
applicable law. If, from any circumstance whatsoever, fulfillment of any
provision hereof at the time performance of such provision shall be due shall
involve transcending the limit of validity prescribed by law, the obligation to
be fulfilled shall automatically be reduced to the limit of such validity, and
if from any circumstances the Lender should ever receive as interest an amount
which would exceed the highest lawful rate, such amount which would be excessive
interest shall be applied to the reduction of the principal balance evidenced
hereby and not to the payment of interest, and, if the principal amount of this
Note has been paid in full, shall be refunded to the Borrower.

     

    6.           Late
Charge.  If an interest payment is not received within ten days
of its due date, Borrower shall pay a late charge equal to twenty-five percent
(25%) of the delinquent amount; any excess collected by mistake shall be
refunded on request, and each such late charge shall be separately charged and
collected by the Lender.  Payments may be applied in any order in the
sole discretion of the Lender but prior to demand, shall be applied first to
past due interest, expenses and late charges, then to scheduled principal
payments, if any, which are past due, then to current interest, expenses and
late charges, and last to remaining principal.

    

    7.           Security. This Note is secured by certain
assets of the Borrower in accordance with a separate security agreement (the
“Security Agreement”) of even date herewith between the Borrower and
Lender.  In case of an Event of Default (as defined in this Note), the
Lender shall have the rights set forth in the Security Agreement.

     

     

    8.           Replacement of Note.
If this Note is mutilated, lost, stolen or destroyed, the Borrower shall issue
or cause to be issued in exchange and substitution for and upon cancellation
hereof, or in lieu of and substitution for this Note, a new Note, but only upon
receipt of evidence reasonably satisfactory to the Borrower of such loss, theft
or destruction and customary and reasonable indemnity, if
requested.

    

    9.           Events of
Default.  The following constitute an event of default (“Event
of Default”):

    

    a.           Borrower
fails to pay any of its material liabilities, obligations, and indebtedness to
Lender of any and every kind and nature, whether heretofore, now or hereafter
owing, arising, due or payable and howsoever evidenced, created, incurred,
acquired, or owing, whether primary, secondary, direct, contingent, fixed or
otherwise whether arising under or in accordance with the Note or otherwise when
due and said failure continues for a period of seven (7) days;

     

    
      
         

      

      
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    d.           Borrower
fails or neglects to perform, keep or observe any of the covenants, conditions
or agreements contained in this Note;

    

    e.           Any
warranty or representation now or hereafter made by the Borrower in connection
with this Note is untrue or incorrect in any material respect, or any schedule,
certificate, statement, report, financial data, notice, or writing furnished at
any time by the Borrower to the Lender is untrue or incorrect in any material
respect, on the date as of which the facts set forth therein are stated or
certified;

    

    f.           A
proceeding under any bankruptcy, reorganization, arrangement of debt,
insolvency, readjustment of debt or receivership law or statute is filed against
Borrower which is not dismissed within sixty (60) days of its filing, or a
proceeding under any bankruptcy, reorganization, arrangement of debt,
insolvency, readjustment of debt or receivership law or statute is filed by
Borrower or the Borrower makes an assignment for the benefit of creditors or
Borrower takes any corporate action to authorize any of the
foregoing;

    

    g.           Borrower
voluntarily or involuntarily dissolves or is dissolved, terminates or is
terminated;

    

    h.           Borrower
becomes insolvent or fails generally to pay its debts as they become due, and
said failure continues for a period of thirty (30) days after written notice of
same from the Lender to the Borrower;

    

    

    10.           Purpose.  The
Loan proceeds shall be used for the business purpose of payment in full of amounts due under the CREDIT AGREEMENT,
dated as of January 4, 2008 between DOCUMENT SECURITY SYSTEMS, INC. as Borrower,
and PATRICK WHITE as Lender.

     

    11.           Miscellaneous.

    

    a.           Authority and
Enforceability; Etc. The Borrower hereby represents and warrants to the
Lender that, except as set forth on the Disclosure Schedule attached as Exhibit
A to this Note:

    

    i.           it
has been duly incorporated, is validly existing as a corporation in
good  standing under the laws of the jurisdiction of its incorporation
, it has full corporate power and authority to own its property and conduct its
business as presently conducted and has taken all required corporate and other
action necessary to permit it to execute, deliver, and perform all of its
obligations contained in this Note, the Security Agreement, the Registration
Rights Agreement and Common Stock Purchase Warrant (collectively, the “Loan
Documents”) and any other documents or instruments delivered in connection
herewith, and to borrow hereunder, and such actions to the best of its knowledge
will not violate any provision of law applicable to, or the organizational
documents of, the Borrower, or result in the breach of or constitute a default
under any material agreement or instrument to which the Borrower is a party or
by which it is bound, which default has not been waived in writing on or prior
to the date hereof;

    

    ii.           each
Loan Document has been duly authorized and validly executed by and is the valid
and binding obligation of the Borrower enforceable in accordance with its terms,
except as enforceability may be limited by bankruptcy, insolvency,
reorganization, or other laws affecting creditors’ rights and remedies
generally, and by general principles of equity (regardless of whether
enforceability is considered in a proceeding in equity or at law);

    

    iii.           neither
the execution and delivery by the Borrower of this Note or any other Loan
Document, nor the performance by the Borrower of its obligations hereunder
or  thereunder, requires the consent, approval or authorization of any
person or governmental authority, which consent, approval, or authorization has
not been obtained;

     

    
      
         

      

      
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    iv.           The
entire authorized capital stock of Borrower consists of 200,000,000 shares of
Common Stock, of which 16,482,887 shares are issued and outstanding and 0 shares
are held in treasury. All of the issued and outstanding shares of Borrower
Common Stock have been duly authorized and are-validly issued, fully paid, and
non-assessable. There are additional options and warrants issued and outstanding
as of the date of this Note which are convertible into, or exercisable for, an
aggregate of 2,142,270 shares of Common Stock.  In addition, up to an
additional 478,750 shares of Common Stock are issuable upon the conversion of
outstanding convertible promissory notes, including this Note. Other than as set
forth in this paragraph, there are no outstanding or authorized shares, options,
warrants stock appreciation, phantom stock, profit participation, convertible
securities or similar rights with respect to Borrower.

    

    v.           it
has made all filings with SEC that it has been required to make under the
Securities Act of 1933, as amended (the “Securities Act”) and the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) (collectively the “Public Reports”). Each of the
Public Reports has complied with the Securities Act and the Exchange Act in all
material respects. None of the Public Reports, as of their respective dates,
contained any untrue statement of a material fact or omitted to state a material
fact necessary in order to make the statements made therein, in light of the
circumstances under which they were made, not misleading.

    

    vi.           it
has filed quarterly reports on Form 10-Q for the fiscal quarters ended September
30, 2009 (the “Most Recent Fiscal Quarter End”), June 30, 2009 and March 31,
2009 and an annual report on Form 10-K for the fiscal year ended December 31,
2008. The financial statements included in or incorporated by reference into
these Public Reports (including the related notes and schedules) have been
prepared in accordance with GAAP throughout the periods covered thereby, and
present fairly the financial condition of Borrower as of the indicated dates and
the results of operations of Borrower for the indicated periods, are correct and
complete in all respects, and are consistent with the books and records of
Borrower; provided, however, that the interim statements are subject to normal
year-end adjustments

    

    vii.           Since
the Most Recent Fiscal Quarter End, there has not been any effect or change that
would be (or could reasonably be expected to be) materially adverse to the
business, assets, condition (financial or otherwise), operating results,
operations, or business prospects (including as projected in any revenue,
earnings, or other forecast, whether internal or published) of Borrower, other
than those reported on Form 8-K on November 19, 2009 and December 15,
2009.

    

    viii.           it
does not have any liability (whether known or unknown, whether asserted or
unasserted, whether absolute or contingent, whether accrued or unaccrued,
whether liquidated or unliquidated, and whether due or to become due), including
any liability for taxes, except for (i) liabilities set forth on the face of the
balance sheet dated as of the Most Recent Fiscal Quarter End (rather than in any
notes thereto) and (ii) liabilities that have arisen after the Most Recent
Fiscal Quarter End in the ordinary course of business (none of which results
from, arises out of, relates to, is in the nature of, or was caused by any
breach of contract, breach of warranty, tort, infringement, or violation of
law).

     

    b.           Notices. All notices
to any party required or permitted hereunder shall be in writing and shall be
sent to the address or facsimile number set forth for such party as
follows:

     

    i.            If
to the Lender:

    

    Printers,
LLC

    PO Box
2613

    Seattle,
WA 98124

    Fax:

    Email:

    Attn:
Thomas Felker

     

    
      
         

      

      
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    With a
copy (which shall not constitute notice) to:

    

    Summit
Law Group, PLLC

    315 Fifth
Avenue South, Suite 1000

    Seattle,
WA 9810-2682

    Fax:
(206) 676-7001

    Email:
charliec@summitlaw.com

    Attn:
Charles Carter

     

    ii.           If
to Document Security Systems, Inc.:

    

    Document
Security Systems, Inc.

    28 East
Main Street, Suite 1525

    Rochester,
NY 14614

    Fax:

    Attention: Chief Financial
Officer 

     

    Any party
may change the address to which notices, requests, demands, claims, and other
communications hereunder are to be delivered by giving the other party notice in
the manner herein set forth.

    

    Any
notice, request, demand, claim, or other communication hereunder shall be deemed
duly given (i) when delivered personally to the recipient, (ii) 1 business day
after deposit with a reputable overnight courier service or 2 business days
after deposit with a reputable international overnight courier (in each case
with charges prepaid), or (ii) 4 business days after being mailed to the
recipient by certified or registered mail, return receipt requested and postage
prepaid, and addressed to the intended recipient as set forth above, in each
case with written verification of receipt.  Notwithstanding the
foregoing, service of process will only be deemed effective if it complies with
applicable law, including court rules and nothing in this Note shall be deemed
to effect a waiver by any party of its right to receive service of process in
accordance with those laws and rules.    

     

    c.           Waiver. No failure to
exercise, and no delay in exercising, on the part of the Lender, any right,
power, or privilege hereunder shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, power, or privilege hereunder preclude
any other or further exercise thereof or the exercise of any other right, power,
or privilege. The rights and remedies herein provided are cumulative and not
exclusive of any rights or remedies provided by law.

     

    d.           Amendments. Any term,
covenant, or condition of this Note may be amended or waived only by written
consent of the Borrower and the Lender.

     

    e.           Expenses. Any
reasonable expense incurred by the Lender (including, without limitation,
reasonable attorneys’ fees and disbursements) in connection with the
administration, or enforcement of this Note or any other Loan Document and any
other document executed by the Borrower in connection with the obligations of
Borrower hereunder or any amendment hereto or thereto, or the exercise of any
right or remedy upon the occurrence of an Event of Default, including, without
limitation, the recording and filing fees to perfect the liens granted under the
Security Agreement and the costs of collection and reasonable attorneys’ fees
and expenses, shall be paid by the Borrower within 15 days of receiving written
notice thereof from the Lender. Any such expense incurred by the Lender and not
timely paid by the Borrower shall be added to the other obligations hereunder
and shall earn interest at the same rate per annum as the principal
hereunder.

     

    
      
         

      

      
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    f.           Governing Law. This
Note shall be governed by and construed in accordance with the laws of the State
of New York without giving effect to any conflict or choice of laws
principles.

     

    g.           Transfer; Successors and
Assigns. The terms and conditions of this Note shall inure to the benefit
of and be binding upon the respective successors and assigns of the parties.
This Note shall not be assignable by any Lender without the prior written
consent of the Borrower (which consent shall not be unreasonably withheld,
conditioned or delayed), provided that the Lender may assign or transfer any of
its rights, privileges, or obligations set forth in, arising under, or created
by this Note to any individual or entity controlled by, controlling or under
common control with Lender, including without limitation any member of Lender or
any affiliate of such member. The Borrower may not assign this Note without
prior written consent of the Lender, provided that the Borrower may assign this
Note to any successor of all or substantially all of its assets or business, or
any entity surviving the merger, combination or consolidation with the
Borrower.

     

    h.           Entire Agreement.
This Note and any other agreement or instrument entered into in connection
herewith (including each other Loan Document) contains the entire agreement of
the Borrower and the Lender with respect to the subject matter
hereof.

     

     

    i.           Confidentiality. In
addition to separate confidentiality agreement, if any, the Lender will at all
times keep confidential and not divulge, use or make accessible to anyone the
terms and conditions of this Agreement and the transactions described herein,
and any non-public material information concerning or relating to the business
or financial affairs of the Borrower to which such party has been or will become
privy relating to this Agreement, except to its employees and advisors in such
capacity, as required to perform its obligations hereunder, if required by law
or rules of a stock exchange on which its or its parent’s securities are listed,
or with the prior written consent of the Borrower.

    

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        7

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the Borrower has caused this Note to be executed by its duly
authorized representative as of the day and year first above
written.

     

    

    
      	 
      	 
      
	
              DOCUMENT
      SECURITY SYSTEMS, INC.

            
	
               
       

            	
               
       

            
	
              By:  

            	       
        
	 
      	
              Name:
      Patrick White

              Title:
      Chief Executive Officer

            

    

    

    
      	 
      	 
      
	
              PRINTERS,
      LLC

            
	
               
       

            	
               
       

            
	
              By:  

            	 
      
	 
      	
              Name:
      Thomas S. Felker

              Title:
      Manager

            

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    Exhibit
A

    

    Disclosure
Schedule

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]