Document:

THIS
      NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
      "ACT"),
      NOR ANY STATE SECURITIES LAWS AND NEITHER THIS NOTE NOR ANY INTEREST THEREIN
      MAY
      BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A
      REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND
      ANY
      APPLICABLE STATE SECURITIES LAWS, OR (2) THE CORPORATION RECEIVES AN OPINION
      OF
      COUNSEL TO THE HOLDER OF THIS NOTE, WHICH COUNSEL AND OPINION ARE REASONABLY
      SATISFACTORY TO THE CORPORATION THAT THIS NOTE MAY BE OFFERED, SOLD, PLEDGED,
      ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES
      LAWS.

     

    NUCON-RF,
      INC.

    (a
      Nevada corporation)

    

    8%
      Convertible Note

    

    Total
      Note: $__________

    

    NUCON-RF,
      INC., a
      Nevada
      corporation (the "Corporation"), for value received, promises to pay upon
      presentation of this Convertible Note (the "Note"), in accordance with the
      terms
      and subject to the conversion provisions set forth herein, to the order of
      _______________________________ ("Holder"), _______________ ($_______) Dollars
      (the "Principal Amount"). This Note is convertible into shares of common stock,
      par value $0.001 per share of the Corporation (the "Common Stock") as provided
      Section 2 below. 

     

    The
      Corporation covenants, promises and agrees as follows:

     

    1.
      Principal
      and Interest.
      The
      Principal Amount with interest thereon computed from the date hereof at the
      rate
      of eight (8%) percent per annum shall be payable two (2) years from the date
      hereof (the “Maturity Date”). In the event that any interest or other
      consideration payable with respect to this Note shall be deemed to be usurious
      by a court of competent jurisdiction under the laws of the State of New York
      or
      the laws of any other state governing the repayment hereof, then so much of
      such
      interest or other consideration as shall be deemed to be usurious shall be
      held
      by the Holder as security for the repayment of the principal amount hereof
      and
      shall otherwise be waived.

    

    2.
      Conversion.
      

    

    2.1.
      Option
      to Convert.
      The
      Holder shall have the right, at his option, at any time on or before the
      Maturity Date, to convert, in whole or in part, subject to the terms and
      provisions hereof, the Principal Amount of the Note plus accrued interest on
      the
      Note, into such number of shares of Common Stock ("Common Stock") (the shares
      of
      Common Stock issuable upon conversion of this Note are hereinafter referred
      to
      as the “Conversion Shares") as shall equal the quotient obtained by dividing (x)
      the principal amount and accrued interest of this Note to be converted by (y)
      the Applicable Conversion Price (as hereinafter defined) and by surrender of
      this Note, such surrender to be made in the manner provided herein; provided,
      however, that the right to convert outstanding principal and accrued interest
      of
      this Note shall terminate at the close of business on the third calendar day
      preceding the date fixed for prepayment unless the Corporation shall default
      in
      making such prepayment.

    

    For
      purposes hereof, the term "Applicable Conversion Price" shall mean (A)
      seventy-five ($0.75) cents at any time prior to the shares of the Company’s
      Common Stock being quoted on the Over-the-Counter Bulletin Board (“OTCBB”); (B)
      for a period of ninety (90) days from the date the shares of the Company’s
      Common Stock are quoted on the OTCBB, the lesser of a 25% discount to the
      Closing Price on the business day preceding the Date of Conversion or One
      ($1.00) Dollar with a floor of seventy-five ($0.75) cents or (C) thereafter,
      the
      greater of a 25% discount to the Closing Price on the business day preceding
      the
      Date of Conversion or seventy-five ($0.75) cents. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    For
      purposes hereof the "Closing Price" with respect to any conversion elected
      to be
      made by the holder shall be the closing price for the day immediately preceding
      the date on which the holder gives the Corporation a written notice of the
      Holder's election to convert the outstanding principal and/or accrued interest
      of this Note or any part thereof. The closing price on any trading day shall
      be
      (a) if the Common Stock is then listed or quoted on either the Over the Counter
      Bulletin Board, the NASDAQ Capital Market, the NASDAQ Global Market, the NASDAQ
      Global Select Market or any recognized exchange, the reported closing bid price
      for the Common Stock on such day or (b) if the Common Stock is not listed on
      any
      of the foregoing markets, the average of the bid and asked prices as quoted
      on
      the “pink sheets” on such day subject to adjustment as provided below in Section
      5.

    

    2.2.
      Exercise
      of Conversion Right.
      The
      conversion right shall be exercised, if at all, by surrender of the Note to
      the
      Corporation at the address set forth below in Section 9, together with written
      notice of election executed by the Holder, which may be in the form which is
      included with this Note (hereinafter referred to as the "Conversion Notice")
      to
      convert such Note or a specified portion thereof into shares of Common
      Stock.

     

    2.3.
      Mechanics
      of Conversion.
      No
      fractional shares of Common Stock shall be issued upon conversion of this Note.
      In lieu thereof, the Corporation shall round up to the nearest whole share.
      In
      the case of a dispute as to the calculation of the Conversion Price, the
      Corporation's calculation shall be deemed conclusive absent manifest error.
      In
      order to convert this Note into full shares of Common Stock, the Holder shall
      surrender this Note to the Corporation, together with the Conversion Notice
      that
      it elects to convert the same, the amount of principal to be so converted,
      and a
      calculation of the Conversion Price (with an advance copy of the Note and the
      Conversion Notice forwarded to the Corporation by facsimile); provided, however,
      that the Corporation shall not be obligated to issue certificates evidencing
      the
      shares of Common Stock issuable upon such conversion unless either the Note
      is
      delivered to the Corporation as provided above, or the Holder notifies the
      Corporation that such Note has been lost, stolen or destroyed and executes
      an
      agreement satisfactory to the Corporation to indemnify the Corporation from
      any
      loss incurred by it in connection with such Note.

    

    The
      date
      of conversion (the "Date of Conversion") shall be the date on which the
      Conversion Notice is received by the Corporation, and the person or persons
      entitled to receive the Conversion Shares shall be treated for all purposes
      as
      the record Holder or Holders of such shares on such date. 

    

    2.4.
      Reservation
      of Shares.
      The
      Corporation shall at all times reserve and keep available, free from preemptive
      rights, unissued shares of Common Stock or treasury shares, sufficient to effect
      the conversion of this Note; and, if at any time, the number of authorized
      but
      unissued shares of Common Stock shall not be sufficient to effect the conversion
      of all of the then outstanding Principal Amount of this Note, the Corporation
      will take such corporate action as may be necessary to increase its authorized
      but unissued shares of Common Stock to such number of shares as shall be
      sufficient for such purpose.

    

    3.
      Prepayment.
      The
      Corporation is obligated to pay the Notes prior to maturity at such time as
      the
      Corporation closes on an aggregate of $3,000,000 in debt and/or equity financing
      subsequent to closing of the sale of the Notes. In such event, upon written
      notice from the Corporation, the Holders will have thirty (30) days to convert
      the Notes into shares of Common Stock. 

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    4.
      Default.

    

    4.1.
      Payment
      of this Note shall, at the election of the Holder, be accelerated immediately
      upon the occurrence of any of the following events (a "Default
      Event"):

    

    (a)
      The
      non-payment by the Corporation when due of principal and interest as provided
      in
      this Note.

    

    (b)
      If
      the Corporation (i) applies for or consents in writing to the appointment of,
      or
      if there shall be a taking of possession by, a receiver, trustee or liquidator
      for the Corporation of all or substantially all of its property; (ii) admits
      in
      writing its inability to pay its debts as they become due; (iii) makes a general
      assignment for the benefit of creditors; (iv) files any petition for relief
      under the Bankruptcy Code or any similar federal or state statute; or (v) has
      assessed or imposed against it, or if there shall exist, any general or specific
      lien for any federal, state or local taxes against any of its property or assets
      other than liens for taxes not yet due or being contested in good
      faith.

     

    (c)
      Any
      failure by the Corporation to issue and deliver the Conversion Shares as
      provided herein upon conversion of this Note in whole or in part.

    

    Notwithstanding
      the foregoing, the Corporation shall have ten (10) days from the receipt of
      a
      written Notice of Default to cure said Default Event, and no acceleration of
      payment hereunder shall be deemed to have occurred until the close of business
      on the tenth day after the Corporation's receipt of a written Notice of Default
      from the Holder of this Note. Upon such cure, the terms of this Note shall
      continue in effect.

    

    4.2.
      Each
      right, power or remedy of the Holder hereof upon the occurrence of any Default
      Event as provided for in this Note or now or hereafter existing at law or in
      equity or by statute shall be cumulative and concurrent and shall be in addition
      to every other right, power or remedy provided for in this Note or now or
      hereafter existing at law or in equity or by statute, and the exercise by the
      Holder of any one or more of such rights, powers or remedies shall not preclude
      the simultaneous or later exercise by the Holder hereof of any or all such
      other
      rights, powers or remedies.

    

    5.
      Anti-Dilution
      Adjustments.
      The
      Conversion Price shall be subject to adjustment as follows:

    

    (a)
      If
      at any
      time, during the term of the Note, the Corporation receives debt or equity
      financing whereby the conversion price per share or the price per share is
      less
      than the Conversion Price, said Conversion Price shall be reduced to the price
      per share to be received or received in said debt or equity
      financing.

    

    (b)
      In case
      the Corporation shall at any time subdivide or combine the outstanding shares
      of
      Common Stock, declare a stock dividend, spinoff, stock split, reverse stock
      split or other similar transaction or reclassify its Common Stock, the
      Conversion Price in effect immediately prior to such transaction shall be
      proportionately adjusted to reflect the effect of such transaction. Any such
      adjustment shall be effective at the close of business on the date such
      transaction shall become effective.

    

    (c)
      In case
      of a consolidation or merger of the Corporation with or into another corporation
      (other than a merger or consolidation in which the Corporation is the continuing
      corporation and which does not result in a reclassification of outstanding
      shares of Common Stock of the class issuable upon the conversion of this Note
      and pursuant to which the security holders of the Corporation are not entitled
      to receive securities of another issuer), or in case of any sale or conveyance
      to another corporation of the property of the Corporation as an entirety or
      substantially as an entirety, the Corporation or such successor or purchasing
      corporation, as the case may be, shall execute an instrument providing that
      the
      Holder of this Note shall be entitled to receive, in lieu of the stock or other
      securities and property receivable upon the conversion of this Note prior to
      such consummation, the shares of common stock or other securities or property
      to
      which such Holder(s) would be entitled had the Holders converted this Note
      immediately prior thereto, all subject to further adjustment as provided herein;
      in each such case, the terms of this Note shall be applicable to the shares
      of
      common stock or other securities or property receivable upon the conversion
      of
      this Note after such consummation.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    common
      stock and other securities and property receivable upon such reclassification,
      consolidation, merger, sale, or conveyance that the Holder could have converted
      the Note into immediately prior to such reclassification, consolidation, merger,
      sale, or conveyance. Such interest shall provide for adjustments which shall
      be
      as nearly equivalent as may be practicable to the adjustments provided for
      herein. The foregoing provisions of this Note shall similarly apply to
      successive reclassification of shares of Common Stock and to successive
      consolidations, mergers, sales, or conveyances.

    

    6.
      Failure
      to Act and Waiver.
      No
      failure or delay by the Holder hereof to insist upon the strict performance
      of
      any term of this Note or to exercise any right, power or remedy consequent
      upon
      a Default Event hereunder shall constitute a waiver of any such term or of
      any
      such breach, or preclude the Holder hereof from exercising any such right,
      power
      or remedy at any later time or times. By accepting payment after the due date
      of
      any amount payable under this Note, the Holder hereof shall not be deemed to
      waive the right either to require payment when due of all other amounts payable
      under this Note, or to declare a Default Event for failure to effect such
      payment of any such other amount.

    

    The
      failure of the Holder of this Note to give notice of any failure or breach
      of
      the Corporation under this Note shall not constitute a waiver of any right
      or
      remedy in respect of such continuing failure or breach or any subsequent failure
      or breach.

    

    7.
      Governing
      Law and Consent to Jurisdiction.
      The
      Corporation hereby agrees and consents that this Note shall be construed in
      accordance with the laws of the state of New York and that any action, suit
      or
      proceeding arising out of this Note shall be brought in any appropriate court
      in
      the State of New York or the United States District Court for the Southern
      District of New York. By the issuance and execution of this Note, the
      Corporation irrevocably consents to the jurisdiction of each such
      court.

    

    8.
      Transfer/Negotiability.
      This
      Note
      shall be transferred on the books of the Corporation only by the registered
      Holder hereof or by his attorney duly authorized in writing or by delivery
      to
      the Corporation of a duly executed assignment. The foregoing notwithstanding,
      the Corporation shall not transfer this Note nor any Conversion Shares except
      pursuant to registration under the Act or an available exemption from the
      registration requirements of the Act. Neither the Corporation nor its transfer
      agent shall be obligated to effect any such transfer unless it shall have
      received an opinion of counsel to the Holder, reasonably satisfactory to the
      Corporation and its transfer agent stating that such removal of the legend
      complies with the provisions of the Act. The Corporation shall be entitled
      to
      treat any holder of record of the Note as the holder in fact thereof and shall
      not be bound to recognize any equitable or other claim to or interest in this
      Note in the name of any other person, whether or not it shall have express
      or
      other notice thereof, save as expressly provided by the laws of New York.

    

    9.
      Notices.
      All
      notices and communications under this Note shall be in writing and will be
      effective and deemed given under this Note on the earliest of (i) the date
      of
      personal delivery, or (ii) the date of delivery by facsimile, together with
      confirmation of successful transmission, or (iii) the business day after deposit
      for next business day delivery with a nationally recognized courier or overnight
      service, including Federal Express or Express Mail, for United States deliveries
      or three business days after deposit in the United States mail by registered
      or
      certified mail for United States deliveries. All notices not delivered
      personally or by facsimile shall be sent with postage and other charges prepaid
      and properly addressed to the party to be notified at the address set forth
      below, or at such other address as such party may designate by ten days’ advance
      written notice to the other parties hereto. All notices for delivery outside
      the
      United States will be sent by facsimile, or by nationally recognized courier
      or
      overnight service, including Express Mail and, if not sent by facsimile, shall
      be effective and deemed given under this Note five (5) business days following
      dispatch. Any notice given hereunder to more than one person shall be deemed
      to
      have been given, for purposes of counting time periods hereunder, on the date
      given to the last party required to be given notice: 

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    if
      to the
      Corporation, to: 

    

    Nucon-RF,
      Inc. 

    c/o
      Todd
      Sinclair

    1574
      Gulf
      Rd., #242

    Point
      Roberts, WA 98281

    Facsimile:
      (604) 943-5992

    

    if
      to the
      Holder, to the address of such Holder as it appears in the subscription
      documents delivered by the Holder to the Corporation. 

    

    10.
      Gender,
      etc.
      When
      used in this Note, the masculine shall include the feminine and the neuter
      and
      vice versa, and the plural shall include the singular and vice
      versa.

     

    

    IN
      WITNESS WHEREOF,
      the
      Corporation has caused this Note to be duly executed as of the ___ day of
      ___________________. 

    

    
      	
               

            	
              Nucon-RF,
                Inc. . 

            
	 	 	 
	
               

            	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:
                

            	 

    

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    

    CONVERSION
      NOTICE

    

    NUCON-RF,
      INC.

    

    The
      undersigned holder (the "Holder") of an 8%, _________________($_______) Dollar
      Principal Amount Convertible Note (the "Note"), hereby elects to convert
      $___ 
      of said
      Note into shares of common stock of NUCON-RF, INC. in accordance with the terms
      of the Note. Holder hereby directs that any such shares be issued in the name
      of
      and delivered to the Holder or if so specified, to the person or entity named
      below. 

    

    Dated:_____________________

    

    

     

    Name:_____________________        

    (print)

     

    Signature:________________ 

    

    Address:
      _________________ 

    

     _________________ 

    

    
      
        
        

      

      
        -6-EMPLOYMENT
      AGREEMENT

     

     

    THIS
      EMPLOYMENT AGREEMENT ("Agreement"), is made and entered into as
      of
      October 31, 2005, by and between NuCon, Inc., a Nevada corporation ("Company"),
      and Valery Alexandrovitch Lebedev ("Employee"), with reference to the
      following:

    

    WHEREAS,
      Company wishes to employ Employee to serve as Chief Executive Offrcer of the
      Company to provide services to the Company as set forth herein; and

    

    WHEREAS,
      Employee wishes to provide such services under the terms and conditions set
      forth herein; 

     

    NOW,
      THEREFORE, in consideration of the mutual promises, conditions and covenants
      set
      forth herein, the parties do hereby mutually agree as follows:

    

    1.
      Services of Emvlovee. Company hereby employs Employee to assist in
      promotion, administration, financial and strategic planning, client relations
      attracting client compmies engaged in all manner and kind of nuclear energy
      endeavors and matters related thereto for the Company and to perform such other
      similar work as Company may from time to time designate. 

    

    2.
      Term. The initial term of this Agreement (the "Term") shall be three
      (3) years commencing on November 1, 2005 and expiring on October 31, 2008,
      unless sooner terminated ashereinafter
      provided. This Agreement between the Employee and the Company, shall be
      automatically renewed for successive three (3) year terms unless notice of
      termination is given 60 days prior to the expiration of the Term. 

    

    3.
      Base Salary. In consideration of Employee's agreement to render services
      hereunder, Company shall pay to Employee the salary ("Base Salary") $100,000
      per
      year, payable in equal monthly installments of $6,000 each and one final payment
      of $28,000, less all amounts required to be withheld in accordance with
      applicable law. Company will provide either a letter of credit or another form
      of guarantee acceptable, such as a Separate Bank Account into which said sum
      will be deposited for the benefit of Employee to secure payment of the initial
      $100,000, less all sums received by Employee in hand. 

     

    4.
      Benefits. 

    

    (a)
      During the Term, Employee shall be entitled to health insurance and other
      benefits (including, without limitation, bonuses, vacation and sick leave)
      asare
      made available to other officers of the Company. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)
      Company shall reimburse Employee for all reasonable expenses incurred by
      Employee in performing services on behalf of Company. Company shall withhold
      and
      pay any social insurance payments required to be paid on Employee's behalf.
      

    

    (c)
      During the Term, Employee shall be entitled to a leased automobile provided
      by
      the Company at no cost to Employee for use in connection with Employee's
      employment. 

     

    5.
      Devotion
      of Time. Employee shall devote such time and attention to Company
      as shall be necessary to adequately perform his duties as herein provided.
      Employee may engage in other activities so long as such other activities or
      ventures do not materially interfere with his duties under this Agreement.
      

     

    6.
      Termination by Company. In the event that Company terminates this
      Agreement for any reason other than cause, Company shall continue to pay
      Employee the Base Salary when otherwise due the additional period of the Term
      of
      this Agreement. On the death of Employee, this Agreement shall terminate and
      be
      of no further force and effect. 

    

    7.
      Assignment.
      Without the prior written consent of the other party, neither Company
      nor Employee may assign or transfer this Agreement or all or any part of its
      rights hereunder to any person, firm or corporation. Subject to the foregoing,
      this Agreement shall be binding upon and inure to the benefit of the parties
      hereto and their respective successors and assigns. 

     

    8.
      Notices. Any notice, demand or communication required or permitted to be
      given by any provision of this Agreement shall be deemed to have been
      sufficiently given or served for all purposes if sent by personal delivery,
      recognized overnight courier, registered or certified mail, postage and charges
      prepaid, or facsimile (followed within one business day by a hard copy sent
      by
      any other approved notice method) to the parties at the addresses set forth
      below their signatures to this Agreement, upon the earlier of (a) the third
      business day after such notice, demand or communication was sent or (b) receipt
      by such party. 

     

    9.
      Arbitration. In the event of any dispute, claim or controversy between
      the parties arising out of or in any way relating to this Agreement, such
      dispute, claim or controversy shall be resolved by and through an arbitration
      proceeding before a single arbitrator in Los Angeles, California, pursuant
      to
      the commercial arbitration rules of the American Arbitration Association. Both
      the foregoing agreement of the parties to arbitrate any and all such claims,
      and
      the results, determination, finding, judgment andlor award rendered through
      such
      arbitration, shall be final and binding on the parties hereto and may be
      specifically enforced by legal proceedings. Any and all legal proceedings to
      enforce this Agreement, including any action to compel arbitration hereunder
      or
      to enforce any award or judgment rendered thereby, shall be governed in
      accordance with Section 11. 

     

    10.
      Attorneys' Fees. In the event of any arbitration, litigation or other
      legal proceedings between the parties hereto, including any action to compel
      arbitration hereunder or to
      enforce any award or judgment rendered thereby, the nonprevailing party shall
      pay the expenses, including reasonable attorneys' fees and court costs, of
      the
      prevailing party in connection therewith. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    11.
      Miscellaneous. This Agreement shall be governed by and construedt
in
      accordance
      with the laws of the State of California applicable to contracts made and to
      be
      performed wholly within such State, and without regard to the conflicts of
      laws
      principles thereof. Subject to the provisions of Section 9 hereof, any suit
      brought hereon shall be brought in the state or federal courts sitting in Los
      Angeles, California, the parties hereto hereby waiving any claim or defense
      that
      such forum is not convenient or proper. Each party hereby agrees that any such
      court shall have in personarn jurisdiction over it and consents to service
      of
      process in any manner prescribed in Section 8
      or
      in any
      other manner authorized by California law. This Agreement sets forth the entire
      understanding and agreement of the parties hereto with respect to the subject
      matter hereof and replaces any and all prior agreements and understandings,
      whether written or oral, relating in any way to the subject matter of this
      Agreement. Section and paragraph headings of this Agreement are inserted solely
      for convenience of reference and are not a part of and are not intended to
      govern, limit or aid in the construction of any term or provision hereof. No
      waiver of any breach of any provision of this Agreement shall be construed
      to be
a
      waiver
      of
      any proceeding or succeeding breach of the same or any other provision. All
      sights and the remedies of either party hereunder shall be cumulative and the
      exercise or enforcement of any one or more of them shall not preclude any party
      fiom exercising any of the others or any right or remedy allowed by law.

     

    12.
      Indemnification. To the fullest extent permitted by law, Company shall
      indemnify, defend and hold harmless Employee from and against any and all costs,
      expenses, losses, claims, damages, obligations or liabilities (including actual
      attorneys' fees and expenses) arising out of or relating to any acts, or
      omissions to act, made by Employee on behalf of or in the course of performing
      services for Company. To the extent a change in applicable law permits greater
      indemnification than is now afforded, it is the intent of the parties hereto
      that Employee shall enjoy the greater benefits afforded by such change. If
      any
      claim, action, suit or proceeding is brought, or claim relating
      thereto is made, against Employee with respect to which indemnity may be sought
      against Company pursuant to this Section, Employee shall notify Company in
      writing thereof, and Company shall promptly advance to Employee the costs of
      the
      defense thereof, including, without limitation, the cost of counsel selected
      by
      Employee. In addition, the Company shall as soon as practical hereafter obtain
      and maintain officers and directors liability insurance in an amount of not
      less
      than $1,000,000. 

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

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

    
       

        

       

      
        
        

      

      
        4

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