Document:

AMENDED AND
RESTATED CONVERTIBLE PROMISSORY NOTE

 

	$660,000	October 1, 2011

 

FOR VALUE RECEIVED, and
intending to be legally bound hereby, GENERAL AUTOMOTIVE COMPANY, a Nevada corporation with principal offices located at 5422 Carrier
Dr., Suite 309, Orlando, Florida 32819 (the “Maker”), promises to pay to the order of DOUGLAS J. NAGEL (the “Payee”),
the principal sum of Six Hundred Sixty Thousand ($660,000) Dollars (the “Principal Amount”) together with interest
thereon at a rate per annum of nine (9%) percent (the “Interest Rate”) calculated on the basis of a 365-day year, for
the actual number of days elapsed (the “Indebtedness.”)

 

The Indebtedness evidenced
by this Amended and Restated Convertible Promissory Note (the “Amended Note”) arises from obligations set forth in
a prior convertible promissory note made by Maker to the order of Payee dated August 18, 2010 (the “Prior Note”.) The
indebtedness evidenced by the Prior Note was due and payable in full by the Maker on August 18, 2011, and Maker, in order to avoid
default with respect to the Prior Note, and for other good and valuable consideration, the receipt of which is hereby acknowledged,
has agreed to the terms and conditions set forth in this Amended Note.

 

Interest accrued at the
Interest Rate shall be paid in installments by the Maker to the Payee on or before the 15th day of each month for interest
accrued during the preceding month. The entire Principal Amount, together with all remaining interest thereon at the Interest Rate
is due and payable in full on or before August 12, 2012 (the “Maturity Date.”) The Indebtedness may be prepaid by Maker
at any time at Maker’s sole discretion subject to the Payee’s conversion rights herein.

 

Commencing the date hereof,
at any time prior to full payment of the Indebtedness, Payee shall have the right to convert the Indebtedness, or any portion thereof
to shares of common stock of the Maker (the “Common Stock”) at the price of Five ($0.05) Cents per share subject to
adjustment from time to time as follows (the “Conversion Price”):

 

(1)                
If the number of outstanding shares of Common Stock is increased by a dividend of shares,
or split-up, or by a stock split, or by any other subdivision, then the Conversion Price shall be appropriately decreased so that
the number of shares of Common Stock issuable on conversion of this Amended Note shall be increased in proportion to such increase
of outstanding shares of Common Stock.

(2)                
If the number of outstanding shares of Common Stock is decreased by a combination of the outstanding
shares or by a reverse stock split, then following the record date of such combination, the Conversion Price shall be appropriately
increased so that the number of shares of Common Stock issuable on conversion of this Amended Note shall be decreased in proportion
to such decrease in outstanding shares of Common Stock.

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In order convert
the Indebtedness or any portion thereof, Payee shall deliver to Maker at its offices written notice of his intention to convert,
which notice shall set forth the amount of the Indebtedness to be converted (“Notice of Conversion”). The Payee shall
surrender this Amended Note at the offices of Maker together with the Notice of Conversion. If the Payee elects to convert only
a portion of the Indebtedness, then the Maker shall deliver to the Payee a new promissory note providing for the payment on the
Maturity Date of all Indebtedness remaining subsequent to the conversion. No fractional shares shall be issued upon the conversion
of this Note. In lieu of issuing any fractional shares, Maker shall pay to the holder in cash any remainder resulting after the
number of whole shares is determined as a result of the conversion.

The shares of Common
Stock converted by Payee shall be issued in the Payee’s name and delivered to the Payee by the Maker within ten (10) business
days of Maker’s receipt of the Notice of Conversion. The shares of Common Stock converted by Payee shall be held by Payee
with all the rights and privileges of a holder of Common Stock and shall be subject to any and all dividends, distributions, subdivisions,
declarations, payments, reclassifications, combinations, or other actions taken by Maker affecting the Common Stock.

In the event of
any transaction affecting Maker, including but not limited to any recapitalizaton, reorganization, reclassification, consolidation,
merger, or sale of all or substantially all of Maker’s assets, whereby the holders of the Common Stock shall be entitled
to receive cash, stock or any other asset or benefit in exchange for Common Stock, Maker shall, prior to the consummation of such
transaction, at Payee's sole discretion, make appropriate provisions, reasonably acceptable to Payee, vesting Payee with all rights
and benefits which Payee would have obtained had Payee fully exercised his conversion rights in the Common Stock prior to the consummation
of the transaction.

The Indebtedness is secured
by a first lien on, and security interest in 10,750,000 shares of common stock owned by Maker in Greencell, Inc., a Delaware public
corporation (the “Greencell Stock.”) Upon twenty days written notice to the Payee, the Maker may sell all or a portion
of the Greencell Stock for the purpose of paying the Indebtedness in full, subject to the approval by the Payee of terms and conditions
for payment in full of the Indebtedness upon the closing of any such sale of the Greencell Stock. Payee's security rights and interests
are more fully set forth in that certain Pledge and Security Agreement among Payee and Maker of even date herewith.

 

Maker may prepay the principal
balance, or any portion hereof at any time, without penalty; provided that all accrued interest, fees, and costs shall remain due
and payable. All payments under this Amended Note shall be made by Maker without defense, set-off or counterclaim in immediately
available funds and delivered to Payee at Payee’s office located at 2450 Oak Industrial Drive, Grand Rapids, Michigan 49505,
or at such other place as shall be designated in writing by Payee.

 

The liabilities and obligations
of Maker hereunder shall be unconditional without regard to the liability or obligations of any party and shall not be in any manner
affected by any indulgence whatsoever granted or consented to by Payee, including without limitation, any release of any party,
guarantor, or any collateral, or any extension of time, renewal, waiver of other modification. Any failure of Payee to exercise
any right hereunder shall not be construed as a waiver of the right to exercise the same or any other right at any time and from
time-to-time thereafter.

 

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This Amended Note shall
be governed as to its validity, interpretation and effect by the internal laws of the State of Florida for contracts made and to
be performed within the State of Florida. The terms of this Amended Note may not be changed or amended orally but only by a writing
signed by Payee. In any legal proceeding involving, directly or indirectly, any matter arising out of or related to this Amended
Note, or the relationship evidenced hereby or thereby, Maker, and Payee by its acceptance hereof, hereby irrevocably submits to
the jurisdiction of any court in Miami-Dade county in the State of Florida or the United States District Court for the Southern
District of Florida and agrees not to raise any objection to such jurisdiction or to the laying or maintaining of the venue of
any such proceeding in such county.

 

It shall be an event of
default hereunder if: (i) any portion of the Indebtedness is not paid when due; (ii) Maker breaches any of the warranties or covenants
contained in this Amended Note, or the Pledge and Security Agreement; (iii) Maker commences a voluntary petition for bankruptcy
protection pursuant tothe United States Bankruptcy Code; or (iv) there shall be commenced against Maker an involuntary petition
for bankruptcy protection pursuant to the United States Bankruptcy Code and any such proceeding shall remain undismissed for a
period of 60 days. Upon the occurrence of an event of default, the entire Indebtedness may become, or may be declared to be, due
and payable.

 

Maker and endorsers of
the Amended Note hereby consent to renewals and extensions of time at or after the maturity hereof, without notice, and herby waive
diligence, presentment, protest, demand and notice of every kind and, to the full extent permitted by law, the right to plead any
statute of limitations as a defense to any demand hereunder.

 

The
Maker hereby agrees to pay all reasonable out-of-pocket costs and expenses, including reasonable attorneys' fees, incurred by the
Payee in the collection of the Indebtedness evidenced by this Amended Note or in enforcing any of the rights, powers, remedies,
and privileges of the Payee hereunder.  As used in this Amended Note, the term "attorneys' fees" shall mean reasonable
charges and expenses for legal services rendered to or on behalf of the Payee in connection with the collection of the Indebtedness
evidenced by this Amended Note at any time whether prior to the commencement of judicial proceedings and/or thereafter at the trial
and/or appellate level and/or in pre- and post judgment or bankruptcy proceedings

 

If any provision of this
Amended Note shall for any reason be held to be invalid or unenforceable such invalidity or unenforceability shall not affect any
other provision hereof, but this Amended Note shall be construed as if such invalid or unenforceable provision had never been contained
herein.

 

This Amended Note is an
amendment and replacement solely of those terms and conditions of the Prior Note as identified herein. Nothing herein or in any
other document executed in connection herewith shall be construed to constitute a waiver of any other terms and conditions of the
Prior Note. Nothing herein or in any other document executed in connection herewith shall be construed to constitute payment or
satisfaction of the Prior Note or to release or terminate any collateral security therefor.

 

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IN WITNESS WHEREOF,
intending to be legally bound hereby Maker has caused this Amended Note to be executed and delivered by one of its duly
authorized officers, as an instrument under seal as of the day and year first above written.

 

GENERAL AUTOMOTIVE COMPANY

 

By: /s/ Daniel Valladao

DANIEL VALLADAO

Chief Executive Officer

    	4COLLATERALIZED GUARANTY AGREEMENT

 

THIS COLLATERALIZED GUARANTY
AGREEMENT (the “Agreement”) is made as of this 1stth day of October, 2011 by GENERAL AUTOMOTIVE COMPANY,
a Nevada corporation with principal offices located at 5422 Carrier Dr., Suite 309, Orlando, Florida 32819 (the "Guarantor”)
for the benefit of DOUGLAS J. NAGEL (the “Lender.”)

 

RECITALS

 

WHEREAS, the Lender has
loaned funds to Pro Value Automotive Corporation, a Florida corporation (“Pro Value”) in the principal amount of One
Hundred Seventy Five Thousand ($175,000) Dollars (the “Pro Value Loan”) as evidenced by that certain Secured Promissory
Note of even date herewith (the “Promissory Note”); and

 

WHEREAS, Pro Value and
the Guarantor are related companies, and in order to induce Lender to provide the Pro Value Loan, the Guarantor has agreed to enter
into this Agreement for the purpose of guaranteeing Pro Value’s payment obligations in connection with the Promissory Note.

 

AGREEMENT

 

NOW THEREFORE, for good
and valuable consideration, and intending to be legally bound hereby, the parties agree as follows:

 

1.Guarantee.
Guarantor unconditionally and absolutely guarantees Pro Value’s full performance of each and every one of Pro Value’s
obligations under the Promissory Note, including but not limited to all payment obligations. The obligation of Guarantor under
this Agreement shall not be subject to any reduction, limitation or termination for any reason including, without limitation, any
claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense, setoff, counterclaim or
termination whatsoever by reason of the invalidity, illegality or unenforceability of the provisions of this Agreement.

 

2.Continuing Guarantee
of Payment. The obligation of Guarantor under this Agreement shall in all respects be a continuing, absolute and unconditional
guaranty of prompt and complete payment and performance (and not merely of collection), and shall remain in full force and effect
(notwithstanding, without limitation, the dissolution of guarantor) until the full and final payment of all indebtedness evidenced
by the Promissory Note.

 

3.Primary Obligation
of Guarantor.The Guarantor hereby waives any rights it may have to compel Lender to proceed first against Pro Value. The
Lender’s exercise of any remedies against Pro Value, shall not (except to the extent that the exercise of such remedies cause
the Guarantor’s obligations herein to be satisfied) in any way affect the Guarantor’s obligations.

 

4.Security for Guarantee.
The obligation of Guarantor under this Agreement and the indebtedness evidenced by the Promissory Note are secured by a first lien
on, and security interest in 10,750,000 shares of common stock owned by Guarantor in Greencell, Inc., a Delaware public corporation
(the “Greencell Stock.”) Lender’s security rights and interests are more fully set forth in that certain Pledge
and Security Agreement among Lender and Guarantor of even date herewith (the “Security Agreement.”)

 

 

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5.Entire Agreement. This Agreement,
together with the Security Agreement, constitutes the entire agreement between the Lender and the Guarantor with respect to the
subject matter hereof, and may not be changed or modified in any manner, nor any rights or remedies waived, except in writing,
signed by the party sought to be bound by such change in waiver.

 

6.Governing Law and Jurisdication.
This Agreement shall be governed as to its validity, interpretation and effect by the internal laws of the State of Florida for
contracts made and to be performed within the State of Florida. In any legal proceeding involving, directly or indirectly, any
matter arising out of or related to this Agreement or the relationship evidenced hereby or thereby, maker, and payee by its acceptance
hereof, hereby irrevocably submits to the jurisdiction of any court in Miami-Dade County in the State of Florida or the United
States District Court for the Southern District of Florida and agrees not to raise any objection to such jurisdiction or to the
laying or maintaining of the venue of any such proceeding in such county.

 

7.Cost of Enforcement. Guarantor
agrees to indemnify Lender for all out-of-pocket third party costs and expenses, including, but not limited to, reasonable attorneys’
fees, incurred or paid by Lender in enforcing this Agreement, whether or not litigation is commenced.

 

8.Execution. This Agreement
may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same document. Any counterpart of this Agreement may be executed and delivered by any party via facsimile provided
a manually executed counterpart is later delivered to the other parties.

 

IN WITNESS WHEREOF, intending to be legally
bound hereby, the parties hereto have executed this Agreement, as an instrument under seal, as of the day and year first above
written.

 

 

GENERAL AUTOMOTIVE COMPANY

 

By: /s/ Daniel Valladao

DANIEL VALLADAO

Chief Executive Officer

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