Document:

EX-10.D

VIAD CORP

2007 OMNIBUS INCENTIVE PLAN

PERFORMANCE UNIT AGREEMENT

Effective as of March 23, 2011

Performance Units are hereby awarded by Viad Corp (Corporation), a Delaware corporation,
effective       , 20      , to        (Employee) in accordance with the following terms and
conditions:

1. Award. The Corporation hereby awards the Employee        Performance Units
pursuant to the 2007 Viad Corp Omnibus Incentive Plan (Plan), subject to the terms, conditions, and
restrictions of such Plan and as hereinafter set forth.

2. Restrictions on Transfer and Performance Period. The Performance Units may not be
assigned, transferred, pledged, or otherwise encumbered by the Employee, except in the event of the
Participant’s death, by will or the laws of descent and distribution.

The Performance Period for the Units is for a three-year period beginning January 1, 20       and
ending December 31, 2      .

The Board of Directors (Board) shall have the authority, in its discretion, to truncate the
Performance Period prior to the expiration of the Performance Period with respect thereto, whenever
the Board may determine that such action is appropriate by reason of change in applicable tax or
other law, or other change in circumstances.

3. Restrictive Covenants. Unless a Change of Control (as defined in the Plan) shall
have occurred after the date hereof, in order to better protect the goodwill of the Corporation and
its Affiliates and to prevent the disclosure of the Corporation’s or its Affiliates’ trade secrets
and confidential information and thereby help insure the long-term success of the business,
Employee, without prior written consent of the Corporation, will not engage in certain conduct as
outlined in this paragraph 3:

(a) Non-Competition. During Employee’s employment with the Corporation or any of its
Affiliates, and for a period of eighteen (18) months following termination of Employee’s employment
with the Corporation or any of its Affiliates, Employee will not engage in any activity or provide
any services, whether as a director, manager, supervisor, employee, adviser, agent, consultant,
owner of more than five (5) percent of any enterprise or otherwise, in connection with the
manufacture, development, advertising, promotion, design, or sale of any service or product which
is the same as or similar to or competitive with any services or products of the Corporation or its
Affiliates (including both existing services or products as well as services or products known to
the Employee, as a consequence of Employee’s employment with the Corporation or one of its
Affiliates, to be in development):

(i) with respect to which Employee’s work has been directly concerned at any time during the
two (2) years preceding termination of employment with the Corporation or one of its Affiliates, or

(ii) with respect to which during that period of time Employee, as a consequence of Employee’s
job performance and duties, acquired knowledge of trade secrets or other confidential information
of the Corporation or its Affiliates. For purposes of the provisions of paragraph 3(a), it shall
be conclusively presumed that Employee has knowledge of information he or she was directly exposed
to through actual receipt or review of memos or documents containing such information, or through
actual attendance at meetings at which such information was discussed or disclosed.

(b) Non-Solicitation of Customers. During Employee’s employment with the Corporation or any
of its affiliates, and for a period of eighteen (18) months following termination of Employee’s
employment with the Corporation, Employee will not on behalf of any Competitor, solicit business
from any Client of the Corporation that Employee serviced during Employee’s employment with the
Corporation (the “Restricted Clients”). “Client” means any individual, person, business or entity
that has consumed, obtained, retained and/or purchased any services or products offered or sold by
the Corporation or any of its Affiliates during Employee’s employment, and any individual, person,
business or entity or that has been solicited by Employee to consume, obtain, retain or purchase
the services or products offered or sold by the Corporation or any of its affiliates. “Competitor”
means any person or organization engaged (or about to become engaged) in research, development,
marketing, selling, or servicing with respect to any product or service which is the same as,
similar to, or competes with any product, process or service of the Corporation or its Affiliates
(including both existing services or products as well as services or products known to the
Employee, as a consequence of Employee’s employment with the Corporation or one of its Affiliates,
to be in development).

(c) Non-Solicitation of Employees. During Employee’s employment with the Corporation and for
eighteen (18) months immediately following termination of such employment for any reason, Employee
will not, on behalf of himself or herself, or on behalf of any other person, firm, corporation, or
entity, directly or indirectly (a) solicit for employment, or otherwise seek to employ, retain,
divert or take away any of the agents, representatives or employees of the Corporation with whom
Employee had contact or about whom Employee had access to information in the course of Employee’s
employment with the Corporation, (b) or in any other way assist or facilitate any such employment,
solicitation or retention effort.

(d) Remedies and Governing Law

(i) Injunctive Relief, Damages and Forfeiture. Employee understands and agrees that the
Corporation’s remedy for violation of the restrictions contained in paragraphs 3(a), 3(b) and/or
3(c) above is not limited to a requirement that Employee repay any awards granted to Employee under
the Plan. Rather, in the event Employee breaches the terms of the restrictive covenants contained
in paragraphs 3(a), 3(b) and/or 3(c) above, the Corporation will be entitled to seek and obtain any
or all of the following remedies against Employee:

(1) Injunctive Relief. In the event that Employee breaches, or the Corporation reasonably
believes that Employee is about to breach, any of the covenants of paragraphs 3(a), 3(b) and/or
3(c) above, Employee recognizes that the Corporation will suffer immediate and irreparable harm and
that money damages alone will not be adequate to compensate the Corporation or its Affiliates.
Accordingly, Employee agrees that the Corporation will be entitled to temporary, preliminary and/or
permanent injunctive relief enforcing the terms of paragraphs 3(a), 3(b) and/or 3(c) above.

(2) Damages. In the event that Employee breaches any of the covenants of paragraphs 3(a),
3(b) and/or 3(c) above, Employee agrees that the Corporation will be entitled to compensatory
damages in an amount necessary to compensate the Corporation for any harm that is not adequately
redressed or prevented by injunctive relief.

(3) Forfeiture and Repayment. In the event Employee breaches any of the covenants of
paragraphs 3(a), 3(b) and/or 3(c) above, Employee agrees and understands that the Corporation may
require Employee to repay certain awards that have been granted under the Plan, as is more fully
set forth in paragraph 4 below.

(ii) Governing Law. The restrictions set forth in paragraphs 3(a), 3(b) and/or 3(c) will be
governed by, construed, interpreted, and their validity determined, under the law of the State of
Delaware.

4. Forfeiture and Repayment Provisions.

(a) Termination of Employment. Except as provided in this paragraph 4(a) and in
paragraph 5 below or as otherwise may be determined by the Board, if the Employee ceases to be an
Employee of the Corporation or any of its Affiliates (as defined in the Plan) for any reason prior
to the completion of the Performance Period, all Performance Units shall upon such termination of
employment be forfeited and returned to the Corporation. Except as otherwise specifically
determined by the Human Resources Committee in its absolute discretion on a case by case basis, if
the Employee is terminated by the Corporation or any of its Affiliates for any reason prior to the
completion of the Performance Period (other than for Cause, as defined below, or for failure to
meet performance expectations, as determined by the Chief Executive Officer of the Corporation), or
if the Employee ceases to be an employee of the Corporation or any of its Affiliates by reason of
death or total or partial disability prior to the completion of the Performance Period, full
ownership of the earned Performance Units will occur to the extent not previously earned at the end
of the Performance Period. As used herein, the term “Cause” means (1) the conviction of a
participant for committing a felony under federal law or the law of the state in which such action
occurred, (2) dishonesty in the course of fulfilling a participant’s employment duties or (3)
willful and deliberate failure on the part of a participant to perform his employment duties in any
material respect, or such other events as will be determined by the Committee. The Committee will
have the sole discretion to determine whether “Cause” exists, and its determination will be final.

If the Employee ceases to be an employee of the Corporation or any of its Affiliates by reason of
normal or early retirement, full ownership of the earned Performance Units will occur at the end of
the Performance Period, in each case on a pro rata basis, calculated based on the percentage of
time such Employee was employed by the Corporation or any of its Affiliates from the beginning of
the Performance Period through the date the Employee ceases to be an employee of the Corporation or
any of its Affiliates; provided, however, that full ownership of the earned Performance Units
(versus pro rata ownership) will occur at the end of such Performance Period if the Employee has
reached age 60 at the time of retirement and such retirement is at least 18 months subsequent to
the date of grant of the Award.

Notwithstanding anything to the contrary herein, no vesting or ownership of Performance Units shall
occur following termination of employment for any reason unless Employee, upon request of the
Corporation, shall execute a Separation Agreement and Release in connection with such termination
of employment, such agreement to be in form and substance satisfactory to the Corporation in its
absolute discretion.

(b) Violations of Paragraph 3(a), 3(b) and/or 3(c).

(i) In addition to any other remedy, at law or in equity, all Performance Units subject to the
restrictions imposed by paragraph 2 above shall be forfeited and returned to the Corporation, if
Employee engages in any conduct agreed to be avoided pursuant to the provisions of paragraph 3(a),
3(b) and/or 3(c) at any time within eighteen (18) months following the date of Employee’s
termination of employment with the Corporation or any of its Affiliates.

(ii) In addition to any other remedy, at law or in equity, if, at any time within eighteen
(18) months following the date of Employee’s termination of employment with the Corporation or any
of its Affiliates, Employee engages in any conduct agreed to be avoided pursuant to the provisions
of paragraph 3(a), 3(b) and/or 3(c), then all payments (without regard to tax effects) received
directly or indirectly by Employee with respect to all Performance Units which are earned during
the two (2) year period prior to Employee’s termination from employment shall be returned by
Employee to the Corporation. Employee consents to the deduction from any amounts the Corporation
or any of its Affiliates owes to Employee to the extent of the amounts Employee owes the
Corporation hereunder.

(c) Misconduct. Unless a Change of Control shall have occurred after the date hereof:

(i) All payments (without regard to tax effects) received directly or indirectly by Employee
with respect to the Performance Units shall be returned by Employee to the Corporation, if the
Corporation reasonably determines that during Employee’s employment with the Corporation or any of
its Affiliates:

(1) Employee knowingly participated in misconduct that causes a misstatement of the financial
statements of Viad or any of its Affiliates or misconduct which represents a material violation of
any code of ethics of the Corporation applicable to Employee or of the Always Honest compliance
program or similar program of the Corporation; or

(2) Employee was aware of and failed to report, as required by any code of ethics of the
Corporation applicable to Employee or by the Always Honest compliance program or similar program of
the Corporation, misconduct that causes a misstatement of the financial statements of Viad or any
of its Affiliates or misconduct which represents a material knowing violation of any code of ethics
of the Corporation applicable to Employee or of the Always Honest compliance program or similar
program of the Corporation.

(ii) Employee consents to the deduction from any amounts the Corporation or any of its
Affiliates owes to Employee to the extent of the amounts Employee owes the Corporation under this
paragraph 4(c).

(d) Acts Contrary to Corporation. Unless a Change of Control shall have occurred
after the date hereof, if the Corporation reasonably determines that at any time within two (2)
years after the lapse of the Performance Period Employee has acted significantly contrary to the
best interests of the Corporation, including, but not limited to, any direct or indirect
intentional disparagement of the Corporation, then all payments (without regard to tax effects)
received directly or indirectly by Employee with respect to Performance Units during the two (2)
year period prior to the Corporation’s determination shall be paid by Employee to the Corporation.
Employee consents to the deduction from any amounts the Corporation or any of its Affiliates owes
to Employee to the extent of the amounts Employee owes the Corporation under this paragraph 4(d).

(e) The Corporation’s reasonable determination required under Sections 4(c)(i) and 4(d) shall
be made by the Human Resources Committee of the Corporation’s Board of Directors, in the case of
executive officers of the Corporation, and by the Chief Executive Officer and Corporate Compliance
Officer of the Corporation, in the case of all other officers and employees.

5. Effect of Change in Control. In the event of a Change in Control (as defined in
the Plan), all Performance Units shall be paid as if each of the predefined targets for such
Performance Units was achieved at the 100% level, with such payment prorated for the period of time
from the grant date of such Performance Units to the date of the Change of Control.

6. Plan and Plan Interpretations as Controlling. The Performance Units hereby
awarded and the terms and conditions herein set forth are subject in all respects to the terms and
conditions of the Plan, which are controlling. The Plan provides that the Human Resources Committee
of the Corporation’s Board of Directors may from time to time make changes therein, interpret it
and establish regulations for the administration thereof. The Employee, by acceptance of this
Agreement, agrees to be bound by said Plan and such Committee actions.

7. Compliance with or exemption from Code Section 409A. Notwithstanding any other
term of this Plan to the contrary, the Plan is intended to satisfy or otherwise be exempt from the
requirements of Section 409A. To the extent that any payment pursuant to this Plan is or becomes
subject to Section 409A of the Internal Revenue Code it shall be paid in accordance with the
requirements of Section 409A and no deferral or acceleration of payment inconsistent with Section
409A shall be permitted. Any payment subject to Section 409A due to a separation from service shall
be delayed for a six month period if payable to a “Key Employee” (as defined below). Payments made
upon lapse of a substantial risk of forfeiture herein shall be made within the two and one-half
month period following the taxable year of the Corporation in which the amount was no longer
subject to a substantial risk of forfeiture and an Employee shall have no ability to designate the
taxable year of payment. Payments made due to a Change in Control shall be made within 30 days of
the Change in Control and the Employee shall have no discretion to designate the taxable year of
receipt. To the extent that any provision of this Plan fails to satisfy the requirements of, or be
exempt from Section 409A, the provision shall be automatically modified in a manner that, in the
good faith opinion of the Corporation, brings the provision into compliance with Section 409A while
preserving as closely as possible the original intent of the Plan. “Key Employee” means an
Executive considered a key employee for the 12-month period commencing on April 1st of the year
following the 12-month period ending on December 31st of the preceding year during which the
Executive met the requirements of Internal Revenue Code Section 416 as applied under Section 409A

IN WITNESS WHEREOF, the parties have caused this Performance Unit Plan Agreement to be duly
executed.

	 	 	 	 	 
	Dated:       , 20      	 	VIAD CORP
	 	 	By:
	 	

	 	 	 	 	 

	 	 	 	 	PAUL B. DYKSTRA

Chairman, President and Chief Executive Officer

ATTEST:

General Counsel

or Assistant Secretary

This Performance Unit Plan Agreement shall be effective only upon execution by Employee and
delivery to and receipt by the Corporation.

ACCEPTED:

Employeeex10a.htm

 

EX-10a

 

THE SECURITIES REPRESENTED BY THIS PROMISSORY NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF A REGISTRATION STATEMENT COVERING THIS PROMISSORY NOTE OR AN OPINION OF COUNSEL TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. THIS PROMISSORY NOTE IS NOT A SUITABLE INVESTMENT FOR PERSONS WHO ARE NOT ABLE TO BEAR THE TOTAL LOSS OF THIS INVESTMENT AND HAS ADEQUATE FINANCIAL RESOURCES TO PROVIDE AND MEET ITS FINANCIAL NEEDS.

 

 

SECURED NON-NEGOTIABLE PROMISSORY NOTE

 

	
$94,087.50

	
San Diego, California

September 25, 2008

Six Pages

 

FOR VALUE RECEIVED, the undersigned, Green Star Alternative Energy, Inc., a Nevada corporation, with principal address at 1660 Hotel Circle North, Suite 207, San Diego, California 92108 ("Maker") hereby promises to pay Seal Commercial, S.A., with principal address at Eleyftherias 14, 16672, Voula - Atikka, Greece ("Payee") (or at such other place as Payee may designate in writing to Maker), the sum of Ninety-Four Thousand Eighty-Seven Dollars and Fifty Cents ($94,087.50) (U.S.D.) (the "Principal Amount") together with interest thereon, all as provided herein.

 

 

1.0 Maturity Date of this Note. This Note shall mature and all amounts due Payee shall be due and payable in full at September 25, 2009 (the "Maturity Date"). At the Maturity Date, the Principal Amount, all unpaid and accrued interest, and all other sums due Payee shall be paid by Maker in full.

 

 

2.0 Collateral for this Note. Maker hereby secures this Note (including all amounts due Payee hereunder) and grants Payee an unencumbered claim and interest in and hereby assigns the following to Payee: a first security interest in the Wind Sensors described and listed in Exhibit A attached hereto and incorporated by reference herein (the "Collateral"). Payee's rights and interests to the Collateral described in this Section 2.0 shall continue until Payee has received all amounts due and owing it under this Note. Maker covenants for itself and its heirs that the rights and interests of Payee shall not be abridged, diminished, or otherwise reduced by any attempted transfer or assignment of the Collateral. Any subsequent attempted assignment by Maker of the Collateral shall be void. All of Payee's rights to the Collateral shall be extinguished only upon payment of all funds due Payee under this Note.

 

 

3.0 Interest. The Principal Amount of this Note shall bear interest at seven percent (7.00%). In the event that Maker fails to pay the Principal Amount due Payee, Interest shall accrue on the unpaid principal balance, whether by declaration as hereinafter provided or otherwise, and shall be calculated and payable at the annual rate of seven percent (7.00%) per year until paid with all said interest to be due and payable on the Maturity Date. All interest required hereunder shall be calculated on the basis of a year of Three Hundred Sixty-Five (365) days. Notwithstanding anything to the contrary herein, no rate of interest required hereunder shall exceed the maximum rate permitted under applicable law, and in the event any such rate is found to exceed such maximum rate, Maker shall be required to pay only such maximum rate.

 

 

Maker has the privilege of prepaying all or any part of this Note, at any time, and from time to time without penalty. Each prepayment shall be applied to the payment of interest and then to principal indebtedness.

 

 

The respective rights and obligations arising under or otherwise pertaining to this Note (including, without limitation, the rights of the Payee hereof and the obligations of Maker and all sureties, guarantors, and endorsers of this Note) shall be construed in accordance with and governed by the laws of the State of Nevada, and no defense given or allowed by the law of any other state or nation, or any political unit of either, shall or may be interposed in any action hereon unless such defense is also allowed by the laws of the State of Nevada.

 

 

In the event of any failure to pay or make any payment of principal or interest under this Note when due and after the expiration of thirty (30) days thereafter, the entire unpaid principal of this Note and the interest accrued thereon may, at the option of the Payee hereof, be declared due and payable without notice or demand. Presentment for payment, notice of dishonor, and protest are hereby waived by Maker and by any signer, guarantor, or endorser hereof, and each signer, guarantor, and endorser hereby guarantees the payment of this Note according to its terms. No extension of any payment due under this Note shall release Maker or any signer, guarantor, or endorser hereof even if given without their consent, and any reasonable expense of collection, with or without suit, including reasonable attorney's fees, shall be paid by Maker and any other parties liable for the payment of this Note.

 

 

Prior to the issuance of this Note to Payee, Payee acknowledges that it has received, from Maker, the following: (1) a copy of the Maker's business plan together with all exhibits and schedules thereto; (2) a copy of Maker's unaudited financial statements as filed with PinkSheets.com; (3) a copy of Maker's Articles of Incorporation and By-Laws; (4) a copy of the resume of the Maker's current officers and directors; and (5) a copy of the Risk Factors listed on Exhibit B attached hereto.

 

 

Payee warrants and represents that at all times hereunder: (1) Payee is an Accredited Investor (as that term is defined in Rule 501 of Regulation D of the Securities Act of 1933); (2) Payee is experienced and sophisticated in making investments into small, early-stage companies that have no history of generating revenues or demonstrating any commercial viability of its business plan; (3) Payee has had unrestricted and sufficient access to the Maker's officers for the purpose of asking questions and receiving answers to all said questions regarding the Maker, its financial condition, its plans, and its affairs; (4) Payee has had unrestricted and sufficient access to the Maker's corporate and financial books, records, business plans, stockholder lists, and other internal memoranda regarding the Maker and its internal affairs sufficient to allow Payee to fully appreciate the extent and likely future prospects of Maker; (5) Payee understands that the Secured Promissory Note is a "restricted security" that has not been registered with the U.S. Securities and Exchange Commission and there exists no liquid or other trading market for the Secured Promissory Note and there is no likelihood that any such market will exist in the future; and (6) Payee and the Maker have had a pre-existing business relationship and the offering and sale of the Secured Promissory Note is not the result of any advertising or other general solicitation.

 

 

Both the Maker and the Payee acknowledge and agree that each party has had an opportunity to be represented by counsel in connection with the negotiation, preparation, and execution of this Note.

 

 

In the event of any dispute that arises out of or is related to the interpretation or enforcement of this Note, the parties agree that all such disputes shall be resolved by binding arbitration under the auspices of the American Arbitration Association in San Diego, California.

 

 

IN WITNESS WHEREOF, the undersigned has executed this Note as of the day and year first above written.

 

	  	
MAKER:

	  	
GREEN STAR ALTERNATIVE ENERGY, INC.

	  	
BY:_____________________________

	  	
ITS:_____________________________

 

[SIGNATURE PAGE TO SECURED PROMISSORY NOTE]

 

	  

 

Attachment to Secured Promissory Note

 

 

EXHIBIT A

 

 

LIST AND DESCRIPTION OF COLLATERAL FOR THE NOTE

 

 

(List and Location of Wind Sensors as attached)

 

	  

 

Attachment to Secured Promissory Note

 

 

EXHIBIT B

 

 

Green Star Alternative Energy, Inc., a Nevada corporation (the "Company" or "Maker") is an early stage company and is subject to substantial risks. The Company's business organization, limited history, and existing debt obligations on its balance sheet all involve elements of substantial risk. Any purchase of the Company's Secured Promissory Note by the Payee (named in the Note) is subject to substantial and continuing risks and uncertainties in that the rights of the holder will be subject to the claims of the Company's existing and future creditors. In many instances, these risks arise from factors over which the Company will have little or no control. Some adverse events may be more likely than others and the consequence of some adverse events may be greater than others. No attempt has been made to rank risks in the order of their likelihood or potential harm. In addition to those general risks enumerated elsewhere, any purchaser of the Company's Secured Promissory Note should also consider the following factors.

 

 

1. New Business Venture, Continued Operating Losses & Lack of Operating History. The Company has undertaken steps to enter the energy business. As a result, any purchaser of the Company's Secured Promissory Note is exposed to all of the risks of a new business. In addition, the Company has incurred losses since inception to the present and the Company anticipates that it may well incur significant additional losses in the future as well. The Company has limited operations and only recently entered the energy business and thus it lacks a substantial operating history on which to base its anticipated expense and revenues. There is no assurance that the Company's operations will be successful or that it will be profitable in the future.

 

 

2. Uncertainties & Lack of Revenues. The Maker does not have any revenues. There can be no assurance that the Maker will generate revenues, or if it does, that revenues will be sustained or be sufficient for it to achieve profitable operations or positive cash flow. As a result, there can be no assurance that the Maker can avoid default on the Note.

 

 

3. Lack of Audited Financial Statements. The Company presently does not have audited financial statements. While the Company anticipates that it will obtain audited financial statements in the future, the lack of audited financial statements limits the ability of an investor to fully evaluate the Company and its current financial condition.

 

 

4. Need for Additional Capital & Lack of Underwriter. The Company anticipates that it will require significant additional capital to implement its business plan. Currently, the Company relies upon its officers and their affiliates to provide additional capital to the Company and the Company has not received any commitment from any underwriter, broker-dealer, or other source of financing that the Company will receive the additional capital needed to implement its business plan. For these and other reasons, there can be no assurance that the Company will raise any additional capital or, if it does, that it can raise any capital in the near future or on terms that may be considered reasonable in light of the Company's current circumstances.

 

 

5. Limited Managerial and Financial Resources. The Company has two corporate officers each of whom have additional employment commitments. In addition, the Company has limited financial resources. While the Company believes that its managerial resources are sufficient and appropriate for the Company in its current financial circumstances, the lack of additional management and the lack of managerial time when combined with the Company's limited financial resources likely limits the ability of the Company to evaluate opportunities and develop effective strategies.

 

 

6. Intense Competition & Small Company. The Maker is entering a business in an industry where there are many large, well-established competitors that possess significantly greater financial and managerial resources than the Maker. Many of these competitors also have significant government and supplier relationships that allow them to exploit opportunities and gain a significant competitive advantage. For these and because of the Maker's small size and lack of resources, the Maker faces intense competition and there can be no assurance that the Maker will successfully implement its business plan or otherwise demonstrate that it can successfully enter the industry.

 

 

7. Value of Collateral & Market Uncertainties. The collateral for the Note consists solely of the Wind Sensors listed on Exhibit A. The Company has not given and will not be giving any other collateral or assets to secure its obligations set forth in the Note. Further, no guarantor has or will be giving any third party guaranty that the obligations set forth in the Note will be fully performed. In the event that the Wind Sensors decline in value or if the Wind Sensors become damaged as result of any later events or circumstances and the Company defaults on its obligations to the Payee under the Note, the Payee may incur the total loss of their investment and the Payee may have little or no recourse since the Company has and may have at that time only limited financial resources. As a result, the Payee should be prepared to accept the total loss of its investment.

 

 

8. The Note as a HIGH RISK Investment. The Secured Promissory Note to be acquired by Payee is and should be considered, for all purposes, a HIGH RISK investment. The financial condition of Maker, the financial, business, and competitive risks that face Maker and those that Maker will likely continue to face in the future together with other risks and uncertainties of technology and the business environment are all risks that are beyond the control of Maker. As a result, the Payee should be prepared to lose its entire investment.

 

 

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