Document:

EXHIBIT 10.61  

Tri-S Security Corporation  

December 7, 2004 

Mr. Douglas
Ball

27026 West Coventry Court

Barrington Illinois 60010 

Dear
Doug: 

        This
letter ("Letter Agreement"), when countersigned by you, will set forth the agreement between you and Tri-S Security Corporation, a Georgia corporation formerly known as
Diversified Security Corporation ("Tri-S Security"), regarding the subject matter set forth herein. The releases, agreements and covenants set forth in this Letter Agreement are given and
made in connection with Tri-S Security preparing for an underwritten initial public offering of its securities (the "Initial Public Offering"). Reference is made to that certain Consulting
Agreement between Tri-S Security and you dated March 25, 2002 (the "Consulting Agreement") and that certain Employment Agreement between Tri-S Security and you dated
March 25, 2002 (the "Employment Agreement"). 

        Tri-S
Security and you hereby agree, acknowledge and understand that, notwithstanding anything to the contrary set forth in the Employment Agreement or the Consulting
Agreement, the Employment Agreement is hereby terminated by the mutual consent of Tri-S Security and you, and neither Tri-S Security nor you shall have any obligations or
liabilities whatsoever pursuant to the Employment Agreement or the Consulting Agreement. 

        As
a material inducement for Tri-S Security to enter into this Letter Agreement, you hereby release, waive, acquit, withdraw, retract and forever discharge any and all
claims, causes of action, whether at law or in equity, known or unknown, fixed or contingent, which you may have now
or may have hereafter, directly or indirectly, against Tri-S Security, its successors and assigns and any and all of Tri-S Security's past or present subsidiaries, agents,
directors and officers, by reason of any act, omission, matter, cause or thing whatsoever, from the beginning of time to, and including, the date of the execution of this Letter Agreement, arising out
of or relating to any of the transactions contemplated by or related to the Employment Agreement or the Consulting Agreement; provided,  however, that the
foregoing shall in no way affect the rights and obligations of you or Tri-S Security arising under this Letter Agreement. 

        Simultaneously
with your execution and delivery of this Letter Agreement, you shall also execute and deliver to Tri-S Security that certain Exchange and Recapitalization
Agreement dated as of November 15, 2004 among Tri-S Security and the holders of its common stock, Series A Convertible Preferred Stock and Series B Convertible
Preferred Stock attached hereto as Exhibit A (the "Exchange and Recapitalization Agreement"). You agree and understand that this Letter Agreement will not be effective and enforceable against
Tri-S Security unless and until you have executed and delivered to Tri-S Security the Exchange and Recapitalization Agreement. You also hereby agree to execute and deliver to
Tri-S Security promptly upon request by Tri-S Security any other form of Exchange and Recapitalization Agreement or any other agreement or consent which effectuates the reverse
split of the securities of Tri-S Security as contemplated by the Registration Statement, as may be amended, filed by Tri-S Security in connection with the Initial Public
Offering (the "Registration Statement"); provided, however, that such other agreement or consent shall
be the same form of agreement or consent executed by all other holders of Tri-S Security's Series B Convertible Preferred Stock and that the reverse split of securities effected by
such other agreement or consent maintains your proportional ownership (on a fully diluted basis) of such securities. Furthermore, you also hereby agree to execute and deliver to Tri-S
Security promptly upon request by Tri-S Security the form of Market Stand-Off Agreement or Lock-Up Agreement contemplated by the Registration Statement;  provided, however, that such Market Stand-Off Agreement or Lock-Up Agreement
shall be the same form of agreement executed by all other holders of Tri-S Security's Series B Convertible Preferred Stock. 

        In
consideration of the foregoing releases, agreements and covenants made by you, Tri-S Security hereby agrees (i) to pay to you no later than December 15,
2004, the sum of $20,000, (ii) to pay to you no later than January 15, 2005, the additional sum of $40,000, and (iii) to issue to you no later than seven business days after the
completion of the Initial Public Offering 15,000 shares of Tri-S Security's restricted common stock; provided,  however, that such issuance is subject to
Tri-S Security receiving an appropriate subscription agreement executed by you in the form of
Exhibit B attached hereto. 

        Tri-S
Security hereby further agrees to hire you as a consultant pursuant to the following terms and conditions: 

	(i)
	Tri-S
Security shall hire you as a consultant for a one year term to commence on February 1, 2005 and terminate on February 1, 2006 and, in connection
therewith, shall pay you total annual compensation of $36,000 payable at a rate of $3,000 per month on the first day of each month commencing on February 1, 2005; and

	(ii)
	during
such term, you shall perform any reasonable consulting services requested by Tri-S Security and reasonably agreeable to you and, in performing any such services,
you shall be an independent contractor and shall not be, or be deemed to be, an employee or agent of Tri-S Security and shall have no right or authority to act for or on behalf of the
Tri-Security or otherwise to enter into any agreements or make any commitments with third parties binding upon Tri-S Security. 

        If
the foregoing accurately reflects our agreement, we would appreciate you executing and dating this Letter Agreement in the space below and returning a copy to us by facsimile to
(770)                        . 

	 	 	Very truly yours,
	

 	
 	
TRI-S SECURITY CORPORATION
	

 	
 	

By:	

/s/  RONALD G. FARRELL      
 Printed Name: Ronald G. Farrell

Title: President and Chief Executive Officer
	

Agreed and Accepted:	
 	

 	

 
	

/s/  DOUGLAS BALL      
DOUGLAS BALL	
 	

 	

 

EXHIBIT B  

                    ,
200    

To
the Board of Directors of

Tri-S Security Corporation

3700 Mansell Road

Suite 220

Alpharetta, Georgia 30022 

Gentlemen: 

        In
connection with the purchase of 15,000 shares of the common stock, with $0.001 par value (the "Shares"), of Tri-S Security
Corporation, a Georgia corporation (the "Corporation"), the undersigned hereby represents and warrants as follows: 

        1.     The
Shares are being purchased for the undersigned's own account without the participation of any other person with the intent of holding the Shares for investment and
without the intent of participating directly or indirectly in a distribution of the Shares and not with a view to, or for resale in connection with, any distribution of the Shares or any portion
thereof. 

        2.     By
virtue of the position of the undersigned with respect to the Corporation, the undersigned has access to all material information with regard to the Corporation. 

        3.     The
undersigned is not acquiring the Shares based upon any representation, oral or written, by any person with respect to the future value of or income from the Shares
but rather upon an independent examination and judgment as to the prospects of the Corporation. 

        4.     The
Shares were not offered to the undersigned by means of publicly disseminated advertisements or sales literature. 

        The
undersigned acknowledges that the undersigned must continue to bear the economic risk of the investment in the Shares for an indefinite period and recognizes that the Shares will be
(i) sold without registration under any state or federal law relating to the registration of securities for sale, (ii) issued and sold in reliance on the exemption from registration
under the Georgia Securities Act of 1973, as amended (the "Act"), provided by O.C.G.A. § 10-5-9(13) and (iii) issued and sold in reliance on the exemption
from registration provided by Section 4(2) of the Securities Act of 1933, as amended (the "1933 Act"). 

        The
undersigned agrees as follows: 

        1.     The
Shares will not in any event be offered for sale, sold, or transferred to anyone prior to one year after the date acquired and then not other than pursuant to
(i) an effective registration under the Act or in a transaction otherwise in compliance with the Act, (ii) an effective registration under the 1933 Act or in a transaction otherwise in
compliance with the 1933 Act, and (iii) evidence satisfactory to the Corporation of compliance with the applicable securities laws of any other jurisdiction. The Corporation shall be entitled
to rely upon an opinion of counsel satisfactory to it with respect to compliance with the above laws. 

        2.     The
Corporation will be under no obligation to register the Shares or to comply with any exemption available for sale of the Shares without registration. The Corporation
is under no obligation to the undersigned to act in any manner so as to make Rule 144 of the Securities and Exchange Commission available with respect to the Shares. 

        3.     If
it so desires, the Corporation may refuse to permit the transfer of the Shares unless the request for transfer is accompanied by an opinion of counsel acceptable to
the Corporation to the effect that neither the sale nor the proposed transfer will result in any violation of the Act, the 1933 Act, or the securities laws of any other jurisdiction. 

        4.     A
legend indicating that the Shares have not been registered under the Act and the 1933 Act and referring to the restrictions on transferability and sale of the Shares
may be placed on the certificate or certificates delivered to the undersigned or any substitute certificate therefor, and any transfer agent of the Corporation may be instructed to require compliance
therewith. 

        The
agreements and representations made by the undersigned herein extend to and apply to all of the Shares. Acceptance by the undersigned of the certificate or certificates representing
the Shares shall constitute a confirmation by the undersigned that all agreements and representations made herein shall be true and correct at such time. 

	

 	
 	

Very truly yours,i  EXHIBIT 10.62  

Tri-S Security Corporation  

November 30, 2004 

Mr. Charles
Keathley

9017 Valley View Drive

Huntsville, Alabama 35801 

Mr. Robert
Luther

2115 Buckingham Drive

Huntsville, Alabama 35803 

Gentlemen: 

        This
letter ("Letter Agreement"), when countersigned by each of you, will set forth the agreement among Tri-S Security Corporation (the "Company") and each of you regarding
the subject matter set forth herein. Reference is made to that certain (i) Agreement Regarding Notes and Preferred Shares dated as of September 29, 2004 among the Company, Charles
Keathley, Robert Luther, Harold Bright and John Wilson, as amended by that certain Letter Agreement dated October 6, 2004 among the Company and Messrs. Keathley and Luther (the "Original
Agreement"); (ii) Amended and Restated Promissory Note dated September 29, 2004 made by the Company in favor of Mr. Keathley in principal amount of $2,983,750.00 (the "Keathley
Note"); (iii) Amended and Restated Promissory Note dated September 29, 2004 made by the Company in favor of Mr. Luther in principal amount of $1,462,450.00 (the "Keathley Note");
and (iv) Amended and Restated Promissory Note dated September 29, 2004 made by the Company in favor Mr. Keathley, both individually and as agent for Messrs. Luther, Bright
and Wilson, in principal amount of $706,507.00 (the "Joint Note"). Capitalized
terms used herein but not otherwise defined herein shall have the meanings ascribed to such terms in the Original Agreement. 

        Mr. Keathley
and the Company hereby amend Section 1.02 of the Keathley Note by deleting Section 1.02 in its entirety and replacing it with the following: "1.02 Maker
shall pay the obligation hereunder by tendering a single payment no later than February 15, 2005 of the full amount of principal due hereunder and all interest at the rate set forth above
accrued thereon since February 24, 2004." 

        Mr. Luther
and the Company hereby amend Section 1.02 of the Luther Note by deleting Section 1.02 in its entirety and replacing it with the following: "1.02 Maker
shall pay the obligation hereunder by tendering a single payment no later than February 15, 2005 of the full amount of principal due hereunder and all interest at the rate set forth above
accrued thereon since February 24, 2004." 

        Messrs. Keathley
and Luther hereby agree to forbear from exercising any and all rights and remedies they have under, or in connection with, the Joint Note with respect to the
principal and interest they are each individually entitled to receive thereunder until February 16, 2005; provided, however, that it is agreed and understood by Messrs. Keathley and
Luther and the Company that this agreement to forbear is made by Messrs. Keathley and Luther individually and not as agent for any other party. Messrs. Keathley and Luther also hereby
agree to amend the Joint Note to extend the maturity date thereof until February 15, 2005, provided Messrs. Bright and Wilson also agree to such amendment. 

        Messrs. Keathley
and Luther and the Company hereby amend the last clause of Section 3 of the Original Agreement by deleting such clause in its entirety and replacing it
with the following: "each Note Holder agrees not to exercise any rights or remedies such holder may have under the Security Agreement to which such holder is a party prior to February 16,
2005." 

 

        Messrs. Keathley
and Luther and the Company hereby amend the last sentence of Section 5 of the Original Agreement by deleting such sentence in its entirety and replacing it
with the following: "If the Initial Public Offering is not consummated by February 15, 2005, the Company shall pay such dividends on such date." 

        In
consideration of the foregoing, the Company shall pay no later than December 15, 2004 (i) $42,187.50 to Mr. Keathley and (ii) $20,312.50 to
Mr. Luther, which amounts shall be applied to the Company's payment obligations under the Keathley Note and the Luther Note, respectively, if the Initial Public Offering is completed on or
before February 15, 2005. The Company also shall pay no later than December 15, 2004 (a) $2,000.00 to Mr. Keathley and $2,000.00 to Mr. Luther for legal fees
incurred by them in connection with the negotiation, preparation and execution of the Original Agreement; and (b) $5,000.00 to legal counsel for Messrs. Keathley and Luther for legal
fees incurred by them in connection with the negotiation, preparation and execution of this Letter Agreement. 

        Notwithstanding
anything herein to the contrary, if the payments set forth in the paragraph above are not made by the Company in accordance with the terms of this Letter Agreement, then
this Letter Agreement shall be null, void and of no effect, and the parties hereto shall have the rights and remedies set forth in the Original Agreement, the Keathley Note, the Luther Note and the
Joint Note, as applicable, pursuant to their terms as in effect immediately prior to the date hereof. 

[SIGNATURE PAGE FOLLOWS]

2

 

        If
the foregoing accurately reflects our agreement, we would appreciate you executing and dating this Letter Agreement in the space below and returning a copy to us by facsimile to
(770) 753-9738. 

	 	 	Very truly yours,
	

 	
 	
TRI-S SECURITY CORPORATION
	

 	
 	

By:	

/s/  RONALD G. FARRELL      
 Printed Name: Ronald G. Farrell

Title: President and Chief Executive Officer
	

Agreed and Accepted:	
 	

 	

 
	

/s/  ROBERT LUTHER      
ROBERT LUTHER	
 	

 	

 
	

/s/  CHARLES KEATHLEY      
CHARLES KEATHLEY
 	
 	

 	

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]