Document:

OMX
HOLDINGS, INC.

4295
Hamilton Mill Road

Suite 100

Buford, GA 30518

 

December
31, 2016

 

Edgar
Woolard

107
Via Capri

Palm
Beach Gardens, FL 33418

 

Dear
Ed:

 

You
are the holder of 2,000 shares of OMX Holdings, Inc. (“OMX”) Series A Preferred Stock (the “Series A Stock”)
pursuant to which you are entitled to the payment of dividends on the Series A Preferred Stock as of the date hereof in the amount
of $115,890 (the “Accrued Dividends”).

 

You
have agreed to treat the Accrued Dividends as advances to OMX which shall bear interest and be repayable in accordance with the
terms of a promissory note dated as of the date hereof in substantially the form of Exhibit A attached hereto.

 

Kindly
indicate your agreement with the foregoing by signing below in the space provided for your name.

 

	 	Very
    truly yours,
	 	 	 
	 	OMX
    HOLDINGS, INC.
	 	 	 
	 	By:
    	 
	 	 	Walter
    Czarnecki
	 	 	President
    & Chief Executive Officer

 

Consented
and agreed to:

 

 ___________________

Edgar
Woolard

 

    	1GRID
NOTE

 

	Buford,
    Georgia	December
    31, 2016

 

WHEREAS,
prior to the date of this Grid Note (this “Note”), Edgar Woolard (the “Holder”) has made an advance (the
“Previous Advance”) to OmniMetrix LLC, a Georgia limited liability company (“OmniMetrix”), and wholly
owned subsidiary of OMX Holdings, Inc. (“OMX”, and together with OmniMetrix, the “Maker”) in the amount
and on the date specifically set forth on Exhibit A annexed hereto, of which the principal amount $50,000 remains due and owing
on the date hereof;

 

WHEREAS,
as of the date hereof the Maker is obligated to pay to the Holder $115,890 of accrued dividends (the “Accrued Dividends”)
pursuant to the terms of the Maker’s Series A Preferred Stock held by the Holder;

 

WHEREAS,
the Holder has agreed with the Maker that the Maker’s obligation to pay the Accrued Dividends shall be evidenced by this
Note and subject to its terms;

 

WHEREAS,
the Holder may advance additional monies (the “Additional Advances”) from time to time to the Maker, upon the terms
and conditions herein contained; and

 

WHEREAS,
the Holder May agree to have future Series A Preferred Stock dividends to which he becomes entitled evidenced by this Note (the
“Subsequent Dividends” and together with Accrued Dividends, the Previous Advance and any Additional Advances, the
“Advances”);

 

NOW
THEREFORE, the Maker agrees as follows:

 

1.
Principal and Interest Rate

 

For
value received, the Maker promises to pay to the Holder, the unpaid principal amount of the Advances set forth on Exhibit A annexed
hereto together with interest accrued thereon on the applicable Maturity Date (as hereinafter defined) in accordance with the
terms of this Note, as hereafter set forth. With respect to each Advance, the principal thereof and all interest accrued thereon
shall be payable on the later of April 30, 2018 and the 90th day following such Advance (the “Maturity Date”).
The outstanding principal balance of this Note shall bear interest at the rate of 8.0% per annum, which interest shall accrue
commencing as of the date of each Advance and be payable upon the Maturity Date. Interest shall be computed on the basis of the
actual number of days elapsed over a year comprised of 365 days.

 

Exhibit
A annexed hereto reflects the dates and amounts of all Advances made to date. The Maker hereby authorizes the Holder to endorse
on Exhibit A (or continuation thereof) annexed to this Note the date and amount of all Additional Advances made to the Maker and
all payments of principal amounts in respect of such Advances, which endorsements shall, absent manifest error, be conclusive
evidence of the outstanding principal amount of all Advances; provided, however, that the failure by the Holder to make any such
notation with respect to any Advance or payment shall not limit or otherwise effect the obligations of the Maker under this Note.

 

    	 

    	 

    

 

Anything
to the contrary set forth in this Note notwithstanding, the Holder shall not be required to make any Additional Advances hereunder
to the Maker.

 

2.
Payments. Any payment under this Note on a day on which Holder is not open to conduct business shall be made on the next
succeeding business day. The payment of principal and interest (or any partial payments thereof) or any other payments on account
of this Note, when paid, shall be applied first to the payment of all interest then due on the unpaid balance of the principal
amount and the balance, if any, shall be applied in reduction of the unpaid balance of the principal amount.

 

3.
Optional Prepayment; Mandatory Prepayment.

 

(a)
The Maker may prepay the unpaid balance of the principal amount in whole at any time or in part from time to time without premium
or penalty; provided, that any such prepayment is accompanied by interest accrued and unpaid on the amount so prepaid to the date
of such prepayment. Partial prepayments of this Note shall be applied first to accrued and unpaid interest and then to the Principal
Amount.

(b)
In the event of the sale of (i) a majority of the Maker’s assets or (ii) a majority of the Maker’s then outstanding
capital stock, the Maker shall concurrently pay to Holder all of the then outstanding principal under this Note, together with
all interest accrued thereon.

4.
Default. The term “Default,” as used herein, means the occurrence of any one or more of the following events:

 

(a)
Maker shall fail to make any payment of the principal of any Advance or any interest accrued thereon when such payment shall become
due within ten (10) days after the due date thereof (whether at maturity, by acceleration or otherwise); or

 

(b)
Maker shall fail to observe or perform any obligation, covenant or agreement contained or incorporated by reference in this Note
(other than that covered by clause (a) above) for thirty (30) days after the earlier of (i) the first day on which Maker has knowledge
of such failure or (ii) written notice thereof has been given to Maker; or

 

(c)
Maker shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to
itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment
of a trustee, receiver, liquidator, custodian or other similar official of its or any substantial part of its property, or shall
consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other
proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally, or
shall admit in writing its inability, to pay its debts as they become due, or shall take any other action to authorize any of
the foregoing; or

 

    	2

    	 

    

 

(d)
An involuntary case or other proceeding shall be commenced against Maker seeking liquidation, reorganization or other relief with
respect to its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment
of a trustee, receiver, liquidator, custodian or other similar official of, or any substantial part of the property of, Maker,
and such invo1untary case or other proceeding shall remain undismissed and unstayed for a period of sixty (60) days; or an order
for relief shall be entered against Maker under applicable bankruptcy laws as now or hereafter in effect.

 

(e)
Maker shall suspend or announce the imminent suspension of the major portion of its business operations as conducted as of the
date hereof.

 

Upon
the occurrence of a Default, the maturity of this Note may be accelerated and the unpaid balance of the principal amount then
outstanding together with interest accrued and unpaid thereon declared to be immediately due and payable at the option of the
Holder.

 

5.
Address for Payments. All payments of the unpaid balance of the principal amount and interest thereon shall be paid in
lawful money of the United States of America during regular business hours of the Holder at Holder’s office in Wilmington,
Delaware or at such other place as the Holder or any other holder of this Note may at any time or from time to time designate
in writing to the Maker.

 

6.
Remedies Cumulative. Each right, power and remedy of the Holder as provided for in this Note or now or hereafter existing
at law or in equity or by statute or otherwise 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 or otherwise, and the
exercise or beginning of 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 of any or all such other rights, powers, or remedies. No failure or delay by
the Holder to insist upon the strict performance of any term, condition, covenant, or agreement of this Note, or to exercise any
right, power, or remedy consequent upon a breach thereof, shall constitute a waiver of any such term, condition, covenant, or
agreement or of any such breach, or preclude the Holder 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 shall not be deemed to waive
the right to declare an event of default for failure to effect such prompt payment of any such other amount.

 

7.
Governing Law. This Note shall be governed by and construed under the laws of the State of Delaware without reference to
the choice of law provisions thereof. Any proceeding relating to any dispute arising out of or related to this Note shall be brought
exclusively in the state or federal courts located in Wilmington, Delaware.

 

8.
Waivers, Etc. All parties to this Note, including endorsers, sureties and guarantors, if any, hereby waive presentment
for payment, demand, protest, notice of non-payment or dishonor, and of protest, and any and all other notices and demands whatsoever
and agree to remain bound hereunder until the interest and Principal Amount are paid in full notwithstanding any (a) release,
surrender, waiver, addition, substitution, exchange, compromise, modification of or to or indulgence granted with respect to this
Note or all or any part of any collateral or security for this Note; (b) extension or extensions of time for payment which may
be granted, even though the period of extension may be indefinite; and (c) inaction by, or failure to assert any legal right available
to the holder of this Note.

 

    	3

    	 

    

 

IN
WITNESS WHEREOF, the Maker has executed this instrument, the day and year first above written.

 

	 	OMNIMETRIX
    LLC
	 	 	 
	 	By:	
	 	Name:	Walter
    Czarnecki
	 	Title:	President
    & Chief Executive Officer
	 	 	 
	 	OMX
    HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	Name:	Walter
    Czarnecki
	 	Title:	President
    & Chief Executive Officer

 

    	4

    	 

    

 

SCHEDULE
TO GRID NOTE

WOOLARD

Dated
December 31, 2016

 

	DATE	 	AMOUNT

                                                                  OF LOAN
	 	 	AMOUNT OF PRINCIPAL REPAID	 	UNPAID PRINCIPAL BALANCE OF GRID NOTE	 	COMMENTS
	 	 	 	 	 	 	 	 	 	 
	December 29, 2016	 	$	50,000	 	 		 		 	Loan to OmniMetrix LLC
	 	 	 	 	 	 	 	 	 	 	 
	December 31, 2016	 	$	115,890	 	 	 	 	 	 	Accrued Series A Dividend as of December 31, 2016
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 

 

    	5

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