Document:

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EXHIBIT 10(dd)

REGIS CORPORATION

SENIOR SERIES J NOTE

	 	 	 
	No. 2003 — J-1	 	
PPN 758932 E@ 2

ORIGINAL PRINCIPAL AMOUNT: $13,290,000

ORIGINAL ISSUE DATE: June 9, 2003

INTEREST RATE: 4.69% per annum

	 	 	 
	INTEREST PAYMENT
DATES: March 9, June 9, September 9 and December 9 of each year

FINAL MATURITY DATE: June 7, 2013

	 	 	 
	PRINCIPAL PREPAYMENT DATES AND AMOUNTS:	
$1,898,571.43 due on
June 9, 2007, June 9, 2008,
June 9, 2009, June 9, 2010,
June 9, 2011 and June 9, 2012

      FOR VALUE RECEIVED, the undersigned, Regis Corporation (herein called the
“Company”), a corporation organized and existing under the laws of the State of
Minnesota, hereby promises to pay to The Prudential Insurance Company of
America, or registered assigns, the principal sum of THIRTEEN MILLION TWO
HUNDRED NINETY THOUSAND DOLLARS ($13,290,000), payable on the Principal
Prepayment Dates and in the amounts specified above, and on the Final Maturity
Date specified above in an amount equal to the unpaid balance of the principal
hereof, with interest (computed on the basis of a 360-day year—30-day month)
(a) on the unpaid balance thereof at the Interest Rate per annum specified
above, payable on each Interest Payment Date specified above and on the Final
Maturity Date specified above, commencing with the Interest Payment Date next
succeeding the date hereof, until the principal hereof shall have become due
and payable, and (b) on any overdue payment (including any overdue prepayment)
of principal, any overdue payment of Yield Maintenance Amount and any overdue
payment of interest, payable on each Interest Payment Date as aforesaid (or, at
the option of the registered holder hereof, on demand), at a rate per annum
from time to time equal to the greater of (i) 2% over the Interest Rate
specified above or (ii) 2% over the rate of interest publicly announced by Bank
of New York from time to time in New York City as its Prime Rate.

      Payments of principal, Yield Maintenance Amount, if any, and interest are
to be made at the main office of Bank of New York in New York City or at such
other place as the holder hereof shall designate to the Company in writing, in
lawful money of the United States of America.

1 of 2

 

      This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Amended and Restated Private Shelf Agreement, dated as
of October 3, 2000, as amended by letter amendment dated as of May 9, 2002 and
Letter Amendment No. 2 to Amended and Restated Private Shelf Agreement dated as
of February 28, 2003 (as amended, herein called the “Agreement”), between the
Company, on the one hand, Prudential Investment Management, Inc. and The
Prudential Insurance Company of America and each Prudential Affiliate (as
defined in the Agreement) which becomes party thereto, on the other hand, and
is entitled to the benefits thereof.

      This Note is subject to optional prepayment, in whole or from time to time
in part, on the terms specified in the Agreement.

      This Note is a registered Note and, as provided in the Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the
registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for the then outstanding principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company shall not be affected by any notice to
the contrary.

      In case an Event of Default shall occur and be continuing, the principal
of this Note may be declared or otherwise become due and payable in the manner
and with the effect provided in the Agreement.

      Capitalized terms used and not otherwise defined herein shall have the
meanings (if any) provided in the Agreement.

      This Note is intended to be performed in the State of Illinois and shall
be construed and enforced in accordance with the laws and decisions of such
State.

	 	 	 
	
REGIS CORPORATION
	 
	By:	 	
 

	 
	Title:	 	
 

2 of 2

 

REGIS CORPORATION

SENIOR SERIES J NOTE

	 	 	 
	No. 2003 — J-2	 	
PPN 758932 E@ 2

ORIGINAL PRINCIPAL AMOUNT: $1,710,000

ORIGINAL ISSUE DATE: June 9, 2003

INTEREST RATE: 4.69% per annum

	 	 	 
	INTEREST PAYMENT DATES: 
March 9, June 9, September 9 and December 9 of each year

FINAL MATURITY DATE: June 7, 2013

	 	 	 
	PRINCIPAL PREPAYMENT DATES AND AMOUNTS:	
$244,285.71 due on
June 9, 2007, June 9, 2008,
June 9, 2009, June 9, 2010,
June 9, 2011 and June 9, 2012

      FOR VALUE RECEIVED, the undersigned, Regis Corporation (herein called the
“Company”), a corporation organized and existing under the laws of the State of
Minnesota, hereby promises to pay to Pruco Life Insurance Company, or
registered assigns, the principal sum of ONE MILLION SEVEN HUNDRED TEN THOUSAND
DOLLARS ($1,710,000), payable on the Principal Prepayment Dates and in the
amounts specified above, and on the Final Maturity Date specified above in an
amount equal to the unpaid balance of the principal hereof, with interest
(computed on the basis of a 360-day year—30-day month) (a) on the unpaid
balance thereof at the Interest Rate per annum specified above, payable on each
Interest Payment Date specified above and on the Final Maturity Date specified
above, commencing with the Interest Payment Date next succeeding the date
hereof, until the principal hereof shall have become due and payable, and (b)
on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of Yield Maintenance Amount and any overdue payment of
interest, payable on each Interest Payment Date as aforesaid (or, at the option
of the registered holder hereof, on demand), at a rate per annum from time to
time equal to the greater of (i) 2% over the Interest Rate specified above or
(ii) 2% over the rate of interest publicly announced by Bank of New York from
time to time in New York City as its Prime Rate.

      Payments of principal, Yield Maintenance Amount, if any, and interest are
to be made at the main office of Bank of New York in New York City or at such
other place as the holder hereof shall designate to the Company in writing, in
lawful money of the United States of America.

1 of 2

 

      This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Amended and Restated Private Shelf Agreement, dated as
of October 3, 2000, as amended by letter amendment dated as of May 9, 2002 and
Letter Amendment No. 2 to Amended and Restated Private Shelf Agreement dated as
of February 28, 2003 (as amended, herein called the “Agreement”), between the
Company, on the one hand, Prudential Investment Management, Inc. and The
Prudential Insurance Company of America and each Prudential Affiliate (as
defined in the Agreement) which becomes party thereto, on the other hand, and
is entitled to the benefits thereof.

      This Note is subject to optional prepayment, in whole or from time to time
in part, on the terms specified in the Agreement.

      This Note is a registered Note and, as provided in the Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the
registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for the then outstanding principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company shall not be affected by any notice to
the contrary.

      In case an Event of Default shall occur and be continuing, the principal
of this Note may be declared or otherwise become due and payable in the manner
and with the effect provided in the Agreement.

      Capitalized terms used and not otherwise defined herein shall have the
meanings (if any) provided in the Agreement.

      This Note is intended to be performed in the State of Illinois and shall
be construed and enforced in accordance with the laws and decisions of such
State.

	 	 	 
	
REGIS CORPORATION
	 
	By:	 	
 

	 
	Title:	 	
 

2 of 2

 

REGIS CORPORATION

SENIOR SERIES J NOTE

	 	 	 
	No. 2003 — J-3	 	
PPN 758932 E@ 2

ORIGINAL PRINCIPAL AMOUNT: $5,200,000

ORIGINAL ISSUE DATE: June 9, 2003

INTEREST RATE: 4.69% per annum

	 	 	 
	INTEREST PAYMENT DATES: 
March 9, June 9, September 9 and December 9 of each year

FINAL MATURITY DATE: June 7, 2013

	 	 	 
	PRINCIPAL PREPAYMENT DATES AND AMOUNTS:	
$742,857.14 due on
June 9, 2007, June 9, 2008,
June 9, 2009, June 9, 2010,
June 9, 2011 and June 9, 2012

      FOR VALUE RECEIVED, the undersigned, Regis Corporation (herein called the
“Company”), a corporation organized and existing under the laws of the State of
Minnesota, hereby promises to pay to Security-Connecticut Life Insurance
Company, or registered assigns, the principal sum of FIVE MILLION TWO HUNDRED
THOUSAND DOLLARS ($5,200,000), payable on the Principal Prepayment Dates and in
the amounts specified above, and on the Final Maturity Date specified above in
an amount equal to the unpaid balance of the principal hereof, with interest
(computed on the basis of a 360-day year—30-day month) (a) on the unpaid
balance thereof at the Interest Rate per annum specified above, payable on each
Interest Payment Date specified above and on the Final Maturity Date specified
above, commencing with the Interest Payment Date next succeeding the date
hereof, until the principal hereof shall have become due and payable, and (b)
on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of Yield Maintenance Amount and any overdue payment of
interest, payable on each Interest Payment Date as aforesaid (or, at the option
of the registered holder hereof, on demand), at a rate per annum from time to
time equal to the greater of (i) 2% over the Interest Rate specified above or
(ii) 2% over the rate of interest publicly announced by Bank of New York from
time to time in New York City as its Prime Rate.

      Payments of principal, Yield Maintenance Amount, if any, and interest are
to be made at the main office of Bank of New York in New York City or at such
other place as the holder hereof shall designate to the Company in writing, in
lawful money of the United States of America.

1 of 2

 

      This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Amended and Restated Private Shelf Agreement, dated as
of October 3, 2000, as amended by letter amendment dated as of May 9, 2002 and
Letter Amendment No. 2 to Amended and Restated Private Shelf Agreement dated as
of February 28, 2003 (as amended, herein called the “Agreement”), between the
Company, on the one hand, Prudential Investment Management, Inc. and The
Prudential Insurance Company of America and each Prudential Affiliate (as
defined in the Agreement) which becomes party thereto, on the other hand, and
is entitled to the benefits thereof.

      This Note is subject to optional prepayment, in whole or from time to time
in part, on the terms specified in the Agreement.

      This Note is a registered Note and, as provided in the Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the
registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for the then outstanding principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company shall not be affected by any notice to
the contrary.

      In case an Event of Default shall occur and be continuing, the principal
of this Note may be declared or otherwise become due and payable in the manner
and with the effect provided in the Agreement.

      Capitalized terms used and not otherwise defined herein shall have the
meanings (if any) provided in the Agreement.

      This Note is intended to be performed in the State of Illinois and shall
be construed and enforced in accordance with the laws and decisions of such
State.

	 	 	 
	
REGIS CORPORATION
	 
	By:	 	
 

	 
	Title:	 	
 

2 of 2

 

REGIS CORPORATION

SENIOR SERIES J NOTE

	 	 	 
	No. 2003 — J-4	 	
PPN 758932 E@ 2

ORIGINAL PRINCIPAL AMOUNT: $3,300,000

ORIGINAL ISSUE DATE: June 9, 2003

INTEREST RATE: 4.69% per annum

	 	 	 
	INTEREST PAYMENT DATES: 
March 9, June 9, September 9 and December 9 of each year

FINAL MATURITY DATE: June 7, 2013

	 	 	 
	PRINCIPAL PREPAYMENT DATES AND AMOUNTS:	
$471,428.57 due on
June 9, 2007, June 9, 2008,
June 9, 2009, June 9, 2010,
June 9, 2011 and June 9, 2012

      FOR VALUE RECEIVED, the undersigned, Regis Corporation (herein called the
“Company”), a corporation organized and existing under the laws of the State of
Minnesota, hereby promises to pay to United of Omaha Life Insurance Company, or
registered assigns, the principal sum of THREE MILLION THREE HUNDRED THOUSAND
DOLLARS ($3,300,000), payable on the Principal Prepayment Dates and in the
amounts specified above, and on the Final Maturity Date specified above in an
amount equal to the unpaid balance of the principal hereof, with interest
(computed on the basis of a 360-day year—30-day month) (a) on the unpaid
balance thereof at the Interest Rate per annum specified above, payable on each
Interest Payment Date specified above and on the Final Maturity Date specified
above, commencing with the Interest Payment Date next succeeding the date
hereof, until the principal hereof shall have become due and payable, and (b)
on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of Yield Maintenance Amount and any overdue payment of
interest, payable on each Interest Payment Date as aforesaid (or, at the option
of the registered holder hereof, on demand), at a rate per annum from time to
time equal to the greater of (i) 2% over the Interest Rate specified above or
(ii) 2% over the rate of interest publicly announced by Bank of New York from
time to time in New York City as its Prime Rate.

      Payments of principal, Yield Maintenance Amount, if any, and interest are
to be made at the main office of Bank of New York in New York City or at such
other place as the holder hereof shall designate to the Company in writing, in
lawful money of the United States of America.

1 of 2

 

      This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Amended and Restated Private Shelf Agreement, dated as
of October 3, 2000, as amended by letter amendment dated as of May 9, 2002 and
Letter Amendment No. 2 to Amended and Restated Private Shelf Agreement dated as
of February 28, 2003 (as amended, herein called the “Agreement”), between the
Company, on the one hand, Prudential Investment Management, Inc. and The
Prudential Insurance Company of America and each Prudential Affiliate (as
defined in the Agreement) which becomes party thereto, on the other hand, and
is entitled to the benefits thereof.

      This Note is subject to optional prepayment, in whole or from time to time
in part, on the terms specified in the Agreement.

      This Note is a registered Note and, as provided in the Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the
registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for the then outstanding principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company shall not be affected by any notice to
the contrary.

      In case an Event of Default shall occur and be continuing, the principal
of this Note may be declared or otherwise become due and payable in the manner
and with the effect provided in the Agreement.

      Capitalized terms used and not otherwise defined herein shall have the
meanings (if any) provided in the Agreement.

      This Note is intended to be performed in the State of Illinois and shall
be construed and enforced in accordance with the laws and decisions of such
State.

	 	 	 
	
REGIS CORPORATION
	 
	By:	 	
 

	 
	Title:	 	
 

2 of 2

 

REGIS CORPORATION

SENIOR SERIES J NOTE

	 	 	 
	No. 2003 — J-5	 	
PPN 758932 E@ 2

ORIGINAL PRINCIPAL AMOUNT: $3,250,000

ORIGINAL ISSUE DATE: June 9, 2003

INTEREST RATE: 4.69% per annum

	 	 	 
	INTEREST PAYMENT DATES:
    March 9, June 9, September 9 and December 9 of each year

FINAL MATURITY DATE: June 7, 2013

	 	 	 
	PRINCIPAL PREPAYMENT DATES AND AMOUNTS:	 	
$464,285.71 due on
June 9, 2007, June 9, 2008,
June 9, 2009, June 9, 2010,
June 9, 2011 and June 9, 2012

      FOR VALUE RECEIVED, the undersigned, Regis Corporation (herein called the
“Company”), a corporation organized and existing under the laws of the State of
Minnesota, hereby promises to pay to Hare & Co., or registered assigns, the
principal sum of THREE MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS ($3,250,000),
payable on the Principal Prepayment Dates and in the amounts specified above,
and on the Final Maturity Date specified above in an amount equal to the unpaid
balance of the principal hereof, with interest (computed on the basis of a
360-day year—30-day month) (a) on the unpaid balance thereof at the Interest
Rate per annum specified above, payable on each Interest Payment Date specified
above and on the Final Maturity Date specified above, commencing with the
Interest Payment Date next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) on any overdue payment
(including any overdue prepayment) of principal, any overdue payment of Yield
Maintenance Amount and any overdue payment of interest, payable on each
Interest Payment Date as aforesaid (or, at the option of the registered holder
hereof, on demand), at a rate per annum from time to time equal to the greater
of (i) 2% over the Interest Rate specified above or (ii) 2% over the rate of
interest publicly announced by Bank of New York from time to time in New York
City as its Prime Rate.

      Payments of principal, Yield Maintenance Amount, if any, and interest are
to be made at the main office of Bank of New York in New York City or at such
other place as the holder hereof shall designate to the Company in writing, in
lawful money of the United States of America.

1 of 2

 

      This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Amended and Restated Private Shelf Agreement, dated as
of October 3, 2000, as amended by letter amendment dated as of May 9, 2002 and
Letter Amendment No. 2 to Amended and Restated Private Shelf Agreement dated as
of February 28, 2003 (as amended, herein called the “Agreement”), between the
Company, on the one hand, Prudential Investment Management, Inc. and The
Prudential Insurance Company of America and each Prudential Affiliate (as
defined in the Agreement) which becomes party thereto, on the other hand, and
is entitled to the benefits thereof.

      This Note is subject to optional prepayment, in whole or from time to time
in part, on the terms specified in the Agreement.

      This Note is a registered Note and, as provided in the Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the
registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for the then outstanding principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company shall not be affected by any notice to
the contrary.

      In case an Event of Default shall occur and be continuing, the principal
of this Note may be declared or otherwise become due and payable in the manner
and with the effect provided in the Agreement.

      Capitalized terms used and not otherwise defined herein shall have the
meanings (if any) provided in the Agreement.

      This Note is intended to be performed in the State of Illinois and shall
be construed and enforced in accordance with the laws and decisions of such
State.

	 	 	 
	
REGIS CORPORATION
	 
	By:	 	
 

	 
	Title:	 	
 

2 of 2

 

REGIS CORPORATION

SENIOR SERIES J NOTE

	 	 	 
	No. 2003 — J-6	 	
PPN 758932 E@ 2

ORIGINAL PRINCIPAL AMOUNT: $3,250,000

ORIGINAL ISSUE DATE: June 9, 2003

INTEREST RATE: 4.69% per annum

	 	 	 
	INTEREST PAYMENT
DATES:    March 9, June 9, September 9 and December 9 of each year

FINAL MATURITY DATE: June 7, 2013

	 	 	 
	PRINCIPAL PREPAYMENT DATES AND AMOUNTS:	 	
$464,285.71 due on
June 9, 2007, June 9, 2008,
June 9, 2009, June 9, 2010,
June 9, 2011 and June 9, 2012

      FOR VALUE RECEIVED, the undersigned, Regis Corporation (herein called the
“Company”), a corporation organized and existing under the laws of the State of
Minnesota, hereby promises to pay to Hare & Co., or registered assigns, the
principal sum of THREE MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS ($3,250,000),
payable on the Principal Prepayment Dates and in the amounts specified above,
and on the Final Maturity Date specified above in an amount equal to the unpaid
balance of the principal hereof, with interest (computed on the basis of a
360-day year—30-day month) (a) on the unpaid balance thereof at the Interest
Rate per annum specified above, payable on each Interest Payment Date specified
above and on the Final Maturity Date specified above, commencing with the
Interest Payment Date next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) on any overdue payment
(including any overdue prepayment) of principal, any overdue payment of Yield
Maintenance Amount and any overdue payment of interest, payable on each
Interest Payment Date as aforesaid (or, at the option of the registered holder
hereof, on demand), at a rate per annum from time to time equal to the greater
of (i) 2% over the Interest Rate specified above or (ii) 2% over the rate of
interest publicly announced by Bank of New York from time to time in New York
City as its Prime Rate.

      Payments of principal, Yield Maintenance Amount, if any, and interest are
to be made at the main office of Bank of New York in New York City or at such
other place as the holder hereof shall designate to the Company in writing, in
lawful money of the United States of America.

1 of 2

 

      This Note is one of a series of Senior Notes (herein called the “Notes”)
issued pursuant to the Amended and Restated Private Shelf Agreement, dated as
of October 3, 2000, as amended by letter amendment dated as of May 9, 2002 and
Letter Amendment No. 2 to Amended and Restated Private Shelf Agreement dated as
of February 28, 2003 (as amended, herein called the “Agreement”), between the
Company, on the one hand, Prudential Investment Management, Inc. and The
Prudential Insurance Company of America and each Prudential Affiliate (as
defined in the Agreement) which becomes party thereto, on the other hand, and
is entitled to the benefits thereof.

      This Note is subject to optional prepayment, in whole or from time to time
in part, on the terms specified in the Agreement.

      This Note is a registered Note and, as provided in the Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the
registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for the then outstanding principal amount will be issued to, and
registered in the name of, the transferee. Prior to due presentment for
registration of transfer, the Company may treat the person in whose name this
Note is registered as the owner hereof for the purpose of receiving payment and
for all other purposes, and the Company shall not be affected by any notice to
the contrary.

      In case an Event of Default shall occur and be continuing, the principal
of this Note may be declared or otherwise become due and payable in the manner
and with the effect provided in the Agreement.

      Capitalized terms used and not otherwise defined herein shall have the
meanings (if any) provided in the Agreement.

      This Note is intended to be performed in the State of Illinois and shall
be construed and enforced in accordance with the laws and decisions of such
State.

	 	 	 
	
REGIS CORPORATION
	 
	By:	 	
 

	 
	Title:	 	
 

2 of 2

 

PURCHASER SCHEDULE

4.69% Senior Notes, Series J, due June 7, 2013

	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Principal	 	 
	 	 	Amount of Notes	 	Note
	 	 	to be Purchased	 	Denomination(s)
	 	 	
	 	

	THE PRUDENTIAL INSURANCE COMPANY OF
AMERICA	 	$	13,290,000	 	 	$	13,290,000	 

	(1)
	 	All payments on account of Notes held by such
purchaser shall be made by wire transfer of
immediately available funds for credit to:

	 
	 	Account No.: 890-0304-391

The Bank of New York

New York, NY

(ABA No.: 021-000-018)

	 
	 	Each such wire transfer shall set forth the name
of the Company, a reference to “4.69% Senior
Notes, Series J, due June 7, 2013, Security No.
!INV 8444!, PPN 758932 E@ 2”, and the due date and
application (as among principal, interest and
Yield-Maintenance Amount) of the payment being
made.

	(2)
	 	Address for all notices relating to payments:

	 
	 	The Prudential Insurance Company of America

c/o Investment Operations Group

Gateway Center Two, 10th Floor

100 Mulberry Street

Newark, NJ 07102-4077

	 
	 	Attention: Manager

	(3)
	 	Address for all other communications and notices:

	 
	 	The Prudential Insurance Company of America

c/o Prudential Capital Group

Two Prudential Plaza

180 N. Stetson Ave., Suite 5600

Chicago, IL 60601

	 
	 	Attention: Managing Director

	(4)
	 	Recipient of telephonic prepayment notices:

	 
	 	Manager, Trade Management Group

	 
	 	Telephone: (973) 367-3141

Facsimile: (800) 224-2278

	(5)
	 	Tax Identification No.: 22-1211670

	(6)
	 	Authorized Officers:

	 
	 	Matthew Douglas

Julia Buthman

William S. Engelking

P. Scott von Fischer

Marie L. Fioramonti

Paul Meiring

-1-

 

	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Principal	 	 
	 	 	Amount of Notes	 	Note
	 	 	to be Purchased	Denomination(s)
	 	 	
	

	PRUCO LIFE INSURANCE COMPANY
	 	$	1,710,000	 	 	$	1,710,000	 

	(1)
	 	All payments on account of Notes held by such
purchaser shall be made by wire transfer of
immediately available funds for credit to:

	 
	 	Account No.: 890-0304-421

The Bank of New York

New York, NY

(ABA No.: 021-000-018)

	 
	 	Each such wire transfer shall set forth the name
of the Company, a reference to “4.69% Senior
Notes, Series J, due June 7, 2013, Security No.
!INV 8444!, PPN 758932 E@ 2”, and the due date and
application (as among principal, interest and
Yield-Maintenance Amount) of the payment being
made.

	(2)
	 	Address for all notices relating to payments:

	 
	 	Pruco Life Insurance Company

c/o Investment Operations Group

Gateway Center Two, 10th Floor

100 Mulberry Street

Newark, NJ 07102-4077

	 
	 	Attention: Manager

	(3)
	 	Address for all other communications and notices:

	 
	 	Pruco Life Insurance Company

c/o Prudential Capital Group

Two Prudential Plaza

180 N. Stetson Ave., Suite 5600

Chicago, IL 60601

	 
	 	Attention: Managing Director

	(4)
	 	Recipient of telephonic prepayment notices:

	 
	 	Manager, Trade Management Group

 

Telephone: (973) 367-3141

Facsimile: (800) 224-2278

	(5)
	 	Tax Identification No.: 22-1944557

	(6)
	 	Authorized Officers:

 

Matthew Douglas

Julia Buthman

William S. Engelking

P. Scott von Fischer

Marie L. Fioramonti

Paul Meiring

-2-

 

	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Principal	 	 
	 	 	Amount of Notes	 	Note
	 	 	to be Purchased	 	Denomination(s)
	 	 	
	 	

	SECURITY-CONNECTICUT LIFE INSURANCE COMPANY
	 	$	5,200,000	 	 	$	5,200,000	 

	(1)
	 	All payments on account of Notes held by such
purchaser shall be made by wire transfer of
immediately available funds for credit to:

	 
	 	The Bank of New York

ABA No.: 021-000-018

BNF: IOC566

Reference: Security-Connecticut Life Ins Co,
Account No. 187037

	 
	 	Each such wire transfer shall set forth the name
of the Company, a reference to “4.69% Senior
Notes, Series J, due June 7, 2013, PPN 758932 E@
2”, and the due date and application (as among
principal, interest and Yield-Maintenance Amount)
of the payment being made.

	(2)
	 	Address for all notices relating to payments:

	 
	 	ING Investment Management LLC

5780 Powers Ferry Road, NW, Suite 300

Atlanta, GA 30327-4943

	 
	 	Attention: Securities Accounting

	 
	 	Facsimile: (770) 690-5057

	(3)
	 	Address for all other communications and notices:

	 
	 	Prudential Private Placement Investors, L.P.

4 Gateway Center, 100 Mulberry Street

Newark, NJ 07102

	 
	 	Attention: Albert Trank, Managing Director

	 
	 	Telephone: (973) 802-8608

Facsimile: (973) 624-6432

	(4)
	 	Recipient of telephonic prepayment notices:

	 
	 	Manager, Trade Management Group

	 
	 	Telephone: (973) 802-8107

Facsimile: (800) 224-2278

	(5)
	 	Tax Identification No.: 35-1468921

	(6)
	 	Authorized Officers:

	 
	 	Matthew Douglas

Julia Buthman

William S. Engelking

P. Scott von Fischer

Marie L. Fioramonti

Paul Meiring

-3-

 

	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Principal	 	 
	 	 	Amount of Notes	 	Note
	 	 	to be Purchased	 	Denomination(s)
	 	 	
	 	

	UNITED OF OMAHA LIFE INSURANCE COMPANY
	 	$	3,300,000	 	 	$	3,300,000	 

	(1)
	 	All payments on account of Notes held by such
purchaser shall be made by wire transfer of
immediately available funds for credit to:

	 
	 	JPMorgan Chase Bank

ABA No. 021-000-021

Private Income Processing

	 
	 	For credit to:

United of Omaha Life Insurance Company

Account No. 900-9000200

a/c: G09588

	 
	 	Each such wire transfer shall set forth the name
of the Company, a reference to “4.69% Senior
Notes, Series J, due June 7, 2013, PPN 758932 E@
2”, and the due date and application (as among
principal, interest and Yield-Maintenance Amount)
of the payment being made.

	(2)
	 	Address for all notices relating to payments:

	 
	 	JPMorgan Chase Bank

14201 Dallas Parkway — 13th Floor

Dallas, TX 75254-2917

	 
	 	Attn: Income Processing — G. Ruiz

a/c: G09588

	(3)
	 	Address for all other communications and notices:

	 
	 	Prudential Private Placement Investors, L.P.

4 Gateway Center, 100 Mulberry Street

Newark, NJ 07102

	 
	 	Attention: Albert Trank, Managing Director

	 
	 	Telephone: (973) 802-8608

Facsimile: (973) 624-6432

	(5)
	 	Tax Identification No.: 47-0322111

	(6)
	 	Authorized Officers:

	 
	 	Matthew Douglas

Julia Buthman

William S. Engelking

P. Scott von Fischer

Marie L. Fioramonti

Paul Meiring

-4-

 

	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Principal	 	 
	 	 	Amount of Notes	 	Note
	 	 	to be Purchased	 	Denomination(s)
	 	 	
	 	

	RGA REINSURANCE COMPANY
	 	$	3,250,000	 	 	$	3,250,000	 
	 
	 	 	 	 	 	 	 	 
	Notes/Certificates to be registered in the name of:
	 	 	 	 	 	 	 	 
	Hare & Co.
	 	 	 	 	 	 	 	 

	(1)
	 	All payments on account of Notes held by such
purchaser shall be made by wire transfer of
immediately available funds for credit to:

	 
	 	Bank of New York

ABA No.: 021-000-018

Account No.: 128863

RGA Private Placement Account

	 
	 	Each such wire transfer shall set forth the name
of the Company, a reference to “4.69% Senior
Notes, Series J, due June 7, 2013, PPN 758932 E@
2” and the due date and application (as among
principal, interest and Yield-Maintenance Amount)
of the payment being made.

	(2)
	 	All notices of payments and written confirmations
of such wire transfers:

	 
	 	RGA Reinsurance Company

Attn: Banking Dept.

1370 Timberlake Manor Parkway

Chesterfield, MO 63017-6039

	(3)
	 	Address for all other communications and notices:

	 
	 	Prudential Private Placement Investors, L.P.

4 Gateway Center, 100 Mulberry Street

Newark, NJ 07102

	 
	 	Attention: Albert Trank, Managing Director

	 
	 	Telephone: (973) 802-8608

Facsimile: (973) 624-6432

	(4)
	 	Tax Identification No.: 43-1235868

	(5)
	 	Authorized Officers:

	 
	 	Matthew Douglas

Julia Buthman

William S. Engelking

P. Scott von Fischer

Marie L. Fioramonti

Paul Meiring

-5-

 

	 	 	 	 	 	 	 	 	 
	 	 	Aggregate Principal	 	 
	 	 	Amount of Notes	 	Note
	 	 	to be Purchased	 	Denomination(s)
	 	 	
	 	

	KEMPER INVESTORS LIFE INSURANCE COMPANY
	 	$	3,250,000	 	 	$	3,250,000	 
	 
	 	 	 	 	 	 	 	 
	Notes/Certificates to be registered in the name of:
	 	 	 	 	 	 	 	 
	Hare & Co.
	 	 	 	 	 	 	 	 

	(1)
	 	All payments on account of Notes held by such
purchaser shall be made by wire transfer of
immediately available funds for credit to:

	 
	 	Bank of New York

ABA No.: 021-000-018

Kemper Investors Life Insurance Company

Account # 195279

	 
	 	Each such wire transfer shall set forth the name
of the Company, a reference to “4.69% Senior
Notes, Series J, due June 7, 2013, PPN 758932 E@
2” and the due date and application (as among
principal, interest and Yield-Maintenance Amount)
of the payment being made.

	(2)
	 	All notices of payments and written confirmations
of such wire transfers:

	 
	 	Kemper Investors Life Insurance Company

1600 McConnor Parkway

Schaumburg, Illinois 60196-6801

	 
	 	Attention: Dave Shroba, Manager

Telephone: (847) 874-7444

Facsimile: (847) 874-5643

	(3)
	 	Address for all other communications and notices:

	 
	 	Prudential Private Placement Investors, L.P.

4 Gateway Center, 100 Mulberry Street

Newark, NJ 07102

	 
	 	Attention: Albert Trank, Managing Director

	 
	 	Telephone: (973) 802-8608

Facsimile: (973) 624-6432

	(4)
	 	Tax Identification No.: 36-3050975

	(5)
	 	Authorized Officers:

	 
	 	Matthew Douglas

Julia Buthman

William S. Engelking

P. Scott von Fischer

Marie L. Fioramonti

Paul Meiring

-6-

 

	 
	 	PRUDENTIAL INVESTMENT MANAGEMENT, INC.

	(1)
	 	All payments to Prudential Investment Management,
Inc. shall be made by wire transfer of immediately
available funds for credit to:

	 
	 	Account No.: 890-0496-916

	 
	 	The Bank of New York

New York, NY

(ABA No.: 021-000-018)

	(2)
	 	Address for all notices relating to payments:

	 
	 	Prudential Investment Management, Inc.

c/o The Prudential Insurance Company of America

Investment Operations Group

Gateway Center Two, 10th Floor

100 Mulberry Street

Newark, NJ 07102-4077

	 
	 	Attention: Manager

	(3)
	 	Address for all other communications and notices:

	 
	 	Prudential Investment Management, Inc.

c/o Prudential Capital Group

Two Prudential Plaza

180 N. Stetson Ave., Suite 5600

Chicago, IL 60601

	 
	 	Attention: Managing Director

	(4)
	 	Recipient of telephonic prepayment notices:

	 
	 	Manager, Trade Management Group

	 
	 	Telephone: (973) 367-3141

Facsimile: (800) 224-2278

	(5)
	 	Tax Identification No.: 22-2540245

	(6)
	 	Authorized Officers:

	 
	 	Matthew Douglas

Julia Buthman

William S. Engelking

P. Scott von Fischer

Marie L. Fioramonti

Paul Meiring

-7-<PAGE>
                                                                    Exhibit 10.1

                       EXCLUSIVE PATENT LICENSE AGREEMENT

                                     BETWEEN

                     WESTINGHOUSE SAVANNAH RIVER COMPANY LLC

                                       AND

                FINGERPRINT DETECTION TECHNOLOGIES, INC. (FDTI),
                  A WHOLLY-OWNED SUBSIDIARY OF UTEK CORPORATION

                                       FOR

           LED INTENSE HEADBAND LIGHT SOURCE FOR FINGER PRINT ANALYSIS

                      WSRC LICENSE AGREEMENT NO. LA-02-003

                     WESTINGHOUSE SAVANNAH RIVER COMPANY LLC
                              AIKEN, SOUTH CAROLINA
<PAGE>
                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
Article                                                                                          Page
-------                                                                                          ----
<S>                                                                                              <C>
1.     Definitions............................................................................      1
2.     License Grant..........................................................................      2
3.     Sublicenses............................................................................      3
4.     Due Diligence..........................................................................      4
5.     License Fees...........................................................................      5
6.     Records and Reports....................................................................      6
7.     Technical Assistance...................................................................      7
8.     Patent Prosecution and Maintenance.....................................................      7
9.     Infringement By Third Parties..........................................................      7
10.    Representation and Warranties..........................................................      8
11.    Disclaimers............................................................................      9
12.    Term of Agreement and Early Termination................................................     10
13.    Rights of the Parties After Termination................................................     11
14.    Use of Names and Trademarks; Nondisclosure Agreement...................................     12
15.    Force Majeure .........................................................................     12
16.    Assignability .........................................................................     12
17.    Non-Abatement of Royalties.............................................................     13
18.    Notices................................................................................     13
19.    Dispute Resolution.....................................................................     14
20.    Governing Law..........................................................................     15
21.    Waivers................................................................................     15
22.    Modifications..........................................................................     15
23.    Headings...............................................................................     15

Appendix A - WSRC Patent Rights...............................................................    A.1
Appendix B - Development and Commercialization Plan
             (Proprietary Information)........................................................    B.1
Appendix C - Issue Fee, Earned Royalties and Minimum Annual
             Royalties (Proprietary Information)..............................................    C.1
</TABLE>

                                       i
<PAGE>
                       EXCLUSIVE PATENT LICENSE AGREEMENT

This License Agreement, effective from the date of execution by the last signing
Party, is by and between WESTINGHOUSE SAVANNAH RIVER COMPANY LLC (hereinafter
"WSRC"), a Delaware corporation whose principal place of business is located at
Aiken, South Carolina and Fingerprint Detection Technologies, Inc. (FDTI),
(hereinafter "LICENSEE"), a Florida corporation whose principal place of
business is located at 202 S. Wheeler Street, Plant City, FL 33563; the Parties
to this License Agreement being referred to individually as a "Party," and
collectively as "Parties."

                                   BACKGROUND:

WHEREAS, WSRC, pursuant to Contract No. DE-AC09-96SR18500 (hereinafter "Prime
Contract") with the United States Government as represented by the Department of
Energy (hereinafter "DOE") has developed and/or obtained certain WSRC Patent
Rights relating to Licensed Products subject to a reservation in the Government
to a nonexclusive, nontransferable, irrevocable, paid-up license to practice and
have practiced throughout the world, by or on behalf of the Government, any and
all such rights as well as certain march-in rights and any other conditions of
waivers granted by DOE; and

WHEREAS, LICENSEE desires to obtain rights under WSRC Patent Rights.

THEREFORE, in consideration of the premises, covenants and agreements contained
herein, the Parties hereto agree to be bound as follows:

                                 1. DEFINITIONS

1.1   "WSRC Patent Rights" shall mean any and all intellectual property rights
      or patent rights to any subject matter claimed in or disclosed in Appendix
      A to this Agreement and all United States and corresponding foreign
      patents issuing from United States patent applications and corresponding
      patent applications later filed in foreign jurisdictions, including all
      divisions, continuations, continuations-in-part, re-examinations,
      reissues, and temporal extensions of any of the foregoing.

                                      1/16
<PAGE>
1.2   "Licensed Products" shall mean any and all items, methods or processes, or
      parts thereof, which are produced by or employ the practice of any
      inventions claimed in Appendix A, and whose manufacture, use or sale would
      constitute, but for the license granted to LICENSEE pursuant to this
      License Agreement, an infringement of any claim in WSRC Patent Rights.

1.3   "Net Sales" shall mean the total amounts invoiced to purchasers (other
      than to Federal purchasers as set forth in Section 5.4 below) during the
      accounting period in question for Licensed Products sold by LICENSEE, less
      allowances for return of Licensed Products, discounts, commissions (but
      not to regular employees), freight, and excise or other taxes on Licensed
      Products. Net Sales in the case of Licensed Products used or transferred
      by LICENSEE shall mean the fair market value of Licensed Products as if
      they were sold to an unrelated third party in similar quantities.

                                2. LICENSE GRANT

2.1   Subject to the terms and conditions of this Agreement, WSRC hereby grants
      to LICENSEE an exclusive, nontransferable, revocable, world-wide (subject
      to Article 8 limitations), royalty-bearing license to manufacture, use,
      sell or offer for sale Licensed Products in all fields of use.

2.2   WSRC hereby agrees not to grant to any other party a license to WSRC
      Patent Rights in accordance with the grant hereinabove as long as LICENSEE
      abides by the terms and conditions of this Agreement, unless required to
      so grant such right and license in accordance with Federal Statutory or
      Regulatory enactments conditioning the waiver of rights to WSRC by the
      DOE, particularly as set forth in 41 CFR 9-9.109-(6)i; 10 CFR Part 781; or
      37 CFR Part 404.

2.3   LICENSEE agrees to make available to WSRC and will grant a non-exclusive,
      irrevocable, paid-up license to WSRC and the Government to make and use,
      and to have made and used on their behalf, for non-commercial purposes,
      any and all developments and improvements to WSRC Patent Rights as may be
      made by LICENSEE.

                                      2/16
<PAGE>
2.4   LICENSEE agrees that any Licensed Products for use or sale in the United
      States shall be manufactured or practiced substantially in the United
      States.

2.5   LICENSEE agrees to affix appropriate markings of the applicable WSRC
      Patent Rights (and the fact that WSRC was the source of these rights) upon
      or in association with LICENSEE's Licensed Products. LICENSEE further
      agrees to use its best efforts to follow any guidance from WSRC concerning
      such markings.

                                 3. SUBLICENSES

3.1   WSRC grants to LICENSEE the right to grant Sublicenses to third parties to
      practice and have practiced Licensed Products under this Agreement.
      However, such Sublicenses may be granted only under the following
      conditions:

      (a) Licensed Products sold or used in the United States shall be
      substantially manufactured in the United States; or

      (b) (i)  the Sublicensee has a business unit located in the United States
               and significant economic and technical benefits will flow to the
               United States as a result of the Sublicense agreement; and

          (ii) in sublicensing any entity that is subject to the control of a
               foreign company or government, said entity shall be limited to
               the same extent as such foreign government permits United States
               agencies, organizations, or other persons to enter into
               cooperative R&D agreements and licensing agreements, and has
               policies to protect United States intellectual property rights.

      If LICENSEE determines that neither conditions (a) nor (b) can be met, it
      must obtain written approval from WSRC prior to granting the Sublicense.

      (c) Sublicenses which include the right to sell Licensed Products shall
      expressly exclude the right of further sale without the express prior
      written approval of Licensor. Sublicensee's right to practice and have
      practiced WSRC

                                      3/16
<PAGE>
      Patent Rights (that is, to enter into use agreements with
      Sub-sublicensees) is not subject to such limitation.

      (d) Sublicenses granted under this Article must contain all of the other
      conditions, restrictions and reservations of this Agreement, except for
      those provisions related to License Issue Fees, and shall preserve the
      rights and reservations of WSRC and the DOE/Government existing hereunder.

3.2   LICENSEE shall provide WSRC with a copy of any and all fully executed
      Sublicenses and Sub-sublicenses within thirty (30) days after execution of
      same.

3.3   LICENSEE shall collect payment of all royalties due WSRC from the sale of
      Licensed Products by any Sublicensees in accordance with Article 5
      ("License Fees"); pay WSRC the amounts due and collected from Sublicensees
      in a timely manner; and summarize and deliver to WSRC, in accordance with
      Article 6 ("Records and Reports"), all reports required from Sublicensees
      as shall be pertinent to a royalty accounting under said Sublicense
      agreements.

3.4   LICENSEE shall not receive from Sublicensees anything of value in lieu of
      cash payments based upon payment obligations of any Sublicense under this
      License Agreement, without the express prior written approval of WSRC.

3.5   Termination of this License Agreement for any reason automatically
      operates as an assignment by LICENSEE to WSRC of all of LICENSEE's rights,
      title and interest in and to each Sublicense granted.

                                4. DUE DILIGENCE

4.1   LICENSEE shall give his commercially reasonable efforts to bring one or
      more Licensed Products to market through a vigorous and diligent program
      for exploitation of WSRC Patent Rights and shall demonstrate a continuing
      effort to market such Licensed Products in sufficient quantities to meet
      market demands for these products.

4.2   LICENSEE shall also adhere to the resource commitments, performance
      milestones, and reporting requirements set forth in the Development and

                                      4/16
<PAGE>
      Commercialization Plan incorporated as Appendix B to this Agreement.
      Should LICENSEE fail to meet the commercialization provisions and
      milestones set forth in Appendix B of this Agreement, as it may be amended
      by the Parties, or is unable or unwilling to demonstrate continuing due
      diligence during the balance of the term of this Agreement, WSRC shall
      have the option, to be exercised by giving LICENSEE written notice as to
      the nature of the deficiency and providing him thirty (30) days to cure
      the deficiency, to convert this license grant to a partially exclusive or
      nonexclusive license. Such converted license shall have the same field of
      use restrictions, if any, and the same royalty rates and minimum royalties
      as this license.

                                 5. LICENSE FEES

5.1   In consideration of the right and license granted herein, LICENSEE agrees
      to pay the License Issue Fee, earned running royalty, and minimum annual
      royalties set forth in Appendix C of this Agreement. Should LICENSEE fail
      to make License Issue Fee payment to WSRC within thirty (30) days, this
      agreement shall be null and void.

5.2   Royalties accruing to WSRC shall be paid to WSRC within sixty (60) days
      after the Semi-annual Reporting Periods, hereby defined for royalty
      reporting and payment purposes under this Agreement as being the six (6)
      month periods of April 1 through September 30, and October 1 through March
      31. Thus, corresponding payment due dates will be November 30 and May 31,
      respectively. Each such payment will be for any and all royalties which
      accrued to WSRC within the most recently completed Semi-annual Reporting
      Period.

5.3   Should LICENSEE fail to make any payment to WSRC within the time period
      prescribed for such payment, then the unpaid amount shall bear interest at
      the rate of one and one half percent (1.5%) per month from the date when
      payment was due until payment in full, with interest, is made.

5.4   No royalties shall be owing on any Licensed Products produced for or under
      any Federal agency contract pursuant to the Government nonexclusive
      license but only to the extent that LICENSEE can show that the Government
      received a discount on Licensed Product sales, which discount is
      equivalent to or greater

                                      5/16
<PAGE>
      than the amount of any such royalty that would otherwise be due. Any sales
      for Federal governmental purposes shall be reported under Section 6 -
      "Records and Reports" below by providing: (a) a Federal government
      contract number; (b) identification of the Federal agency; and (c) a
      description as to how the benefit of the royalty-free sale was passed on
      to the Government.

5.5   The royalty provisions of Appendix C may be offset by any advances made by
      LICENSEE pursuant to Section 9 - "Infringement by Third Parties" below.

5.6   Upon termination of this Agreement for any reason whatsoever, any
      royalties that remain unpaid shall be properly reported and paid to WSRC
      within thirty (30) days of any such termination.

                             6. RECORDS AND REPORTS

6.1   LICENSEE agrees to keep adequate records in sufficient detail of
      LICENSEE's utilization of WSRC Patent Rights to enable royalties payable
      hereunder to be determined and to provide such records for inspection by
      authorized representatives of WSRC at any time during regular business
      hours of LICENSEE. LICENSEE agrees that any additional records of
      LICENSEE, as WSRC may reasonably determine are necessary to verify the
      above records, shall also be provided to WSRC for inspection.

6.2   Within sixty (60) calendar days after the close of each semi-annual
      reporting period during the term of this Agreement (i.e., May 31 and
      November 30), LICENSEE will furnish WSRC a written report providing: (a)
      all domestic Net Sales in U.S. Dollars during the preceding semi-annual
      reporting period including any Federal governmental agency sales under
      Section 5.4 above and all export Net Sales (if none, LICENSEE will so
      indicate); and (b) the amount of royalties due in U.S. Dollars for the
      preceding semi-annual reporting period pursuant to the provisions hereof.

                                      6/16
<PAGE>
                             7. TECHNICAL ASSISTANCE

7.1   WSRC will provide to LICENSEE, on a non-reimbursement/free of charge
      basis, the following level of technical assistance to help facilitate the
      transfer of technology associated with WSRC Patent Rights:

      Thirty-two (32) hours of technical assistance of its Inventor or others
      equally skilled in the art on a non-interference basis at LICENSEE's
      discretion. Travel expenses, if any, shall be the responsibility of the
      LICENSEE.

7.2   WSRC further agrees to provide from time to time over the term of the
      Agreement, on a non-interference basis and subject to the availability of
      the Inventor or others equally skilled in the art, additional technical
      assistance to help facilitate the transfer of technology associated with
      WSRC Patent Rights. In the event that LICENSEE elects to exercise this
      option, the full amount estimated by WSRC for its services must be paid in
      advance prior to LICENSEE receiving any portion of such services.

                     8. PATENT PROSECUTION AND MAINTENANCE

8.1   WSRC shall diligently pursue United States patents for the inventions
      identified in Appendix A, using counsel of its choice. The cost of
      preparing, filing, prosecuting and maintaining the United States
      patents(s) contemplated by this License Agreement shall be borne by WSRC.
      The Parties acknowledge that foreign patent protection is presently
      considered to be unavailable for the WSRC Patent Rights identified in
      Appendix A.

                        9. INFRINGEMENT BY THIRD PARTIES

9.1   LICENSEE shall give notice of any discovered third-party infringement to
      WSRC. WSRC shall, at its sole discretion, subject to DOE approval, take
      appropriate action to stop or prevent such infringement upon consultation
      with LICENSEE. WSRC shall also have the sole discretion to decide to take
      no action against the alleged infringement. In the event that WSRC does
      not take appropriate action to stop or prevent such infringement within
      ninety (90) days after receiving such notice, LICENSEE has the right to
      take appropriate action to

                                      7/16
<PAGE>
      stop and prevent the infringement, including the right to file suit.

9.2   In the event that LICENSEE files suit to stop infringement or defends any
      action against the validity of the patent, LICENSEE shall indemnify and
      hold WSRC harmless against all liability, expense and costs, including
      attorneys' fees incurred as a result of any such suit.

9.3   LICENSEE may, however, apply up-to-fifty (50) percent of any such incurred
      costs as a reduction of any royalties due and payable to WSRC under the
      terms of this Agreement at such time as verified bills of costs actually
      incurred are reported to WSRC in accordance with Section 6 - "Records and
      Reports".

9.4   In the event LICENSEE secures a judgment against any third-party
      infringer, after accounting for and paying all of LICENSEE's costs
      associated with prosecution of such action as well as paying WSRC for any
      reduction of royalties pursuant to Section 9.3, LICENSEE shall pay WSRC
      its royalties as set forth hereinabove on any balance of proceeds actually
      received and LICENSEE shall retain any such remaining balance of proceeds.

9.5   The Parties hereby agree to cooperate with each other in the prosecution
      of any such legal actions or settlement actions undertaken under this
      section and each will provide to the other all pertinent data in its
      possession which may be helpful in the prosecution of such actions;
      provided, however, that the Party in control of such action shall
      reimburse the other Party for any and all costs and expenses in providing
      data and other information necessary to the conduct of the action.

9.6   The Party having filed such action shall be in control of such action and
      shall have the right to dispose of such action in whatever reasonable
      manner it determines to be the best interest of the Parties hereto, except
      that any settlement which affects or admits issues of patent validity
      shall require the advance written approval of WSRC.

                       10. REPRESENTATIONS AND WARRANTIES

10.1  WSRC represents and warrants that Appendix A contains a complete and
      accurate listing of all the WSRC Patent Rights licensed and that WSRC has
      the

                                      8/16
<PAGE>
      right to grant the rights, licenses, and privileges granted herein.

10.2  WSRC represents and warrants that WSRC has no knowledge of any claims of
      infringement filed against WSRC for practicing WSRC Patent Rights anywhere
      in the world.

10.3  Except as set forth hereinabove, WSRC makes NO REPRESENTATIONS OR
      WARRANTIES, express or implied, with regard to the infringement of
      proprietary rights of any third party.

10.4  LICENSEE acknowledges that the export of any of the WSRC Patent Rights
      from the United States or the disclosure of any of the WSRC Patent Rights
      to a foreign national may require some form of license from the U.S.
      Government. Failure to obtain any required export licenses by LICENSEE may
      result in LICENSEE subjecting itself to criminal liability under U.S.
      laws.

                                 11. DISCLAIMERS

11.1  Neither WSRC, the DOE, nor persons acting on their behalf will be
      responsible for any injury to or death of persons or other living things
      or damage to or destruction of property or for any other loss, damage, or
      injury of any kind whatsoever resulting from LICENSEE's manufacture, use,
      or sale of materials, information, or WSRC Patent Rights hereunder.

11.2  EXCEPT AS SET FORTH HEREINABOVE, NEITHER WSRC, THE DOE, NOR PERSONS ACTING
      ON THEIR BEHALF MAKE ANY WARRANTY, EXPRESS OR IMPLIED: (1) WITH RESPECT TO
      THE MERCHANTABILITY, ACCURACY, COMPLETENESS, OR USEFULNESS OF ANY
      SERVICES, MATERIALS, OR INFORMATION FURNISHED HEREUNDER; (2) THAT THE USE
      OF ANY SUCH SERVICES, MATERIALS, OR INFORMATION WILL NOT INFRINGE
      PRIVATELY OWNED RIGHTS; (3) THAT THE SERVICES MATERIALS, OR INFORMATION
      FURNISHED HEREUNDER WILL NOT RESULT IN INJURY OR DAMAGE WHEN USED FOR ANY
      PURPOSE; OR (4) THAT THE SERVICES, MATERIALS, OR INFORMATION FURNISHED
      HEREUNDER WILL ACCOMPLISH THE INTENDED RESULTS OR ARE SAFE FOR ANY
      PURPOSE, INCLUDING THE INTENDED OR PARTICULAR PURPOSE.

                                      9/16
<PAGE>
      FURTHERMORE, WSRC AND THE DOE HEREBY SPECIFICALLY DISCLAIM ANY AND ALL
      WARRANTIES, EXPRESS OR IMPLIED, FOR ANY LICENSED PRODUCTS MANUFACTURED,
      USED, OR SOLD BY LICENSEE. NEITHER WSRC NOR THE DOE SHALL BE LIABLE FOR
      CONSEQUENTIAL, SPECIAL OR INCIDENTAL DAMAGES IN ANY EVENT.

11.3  LICENSEE agrees to indemnify WSRC, the DOE, and persons acting on their
      behalf for all damages, costs, and expenses, including attorney's fees,
      arising from, but not limited to, LICENSEE's making, using, selling, or
      exporting of any WSRC Patent Rights, information, or Licensed Products, in
      whatever form furnished hereunder.

11.4  LICENSEE agrees to obtain and maintain, at its sole expense, sufficient
      liability insurance to protect itself, WSRC, DOE and parties acting on
      their behalf against the events enumerated in Section 11.3 above. At
      WSRC's request, LICENSEE further agrees to provide a certificate of
      insurance in a form acceptable to WSRC in satisfaction thereof.

                  12. TERM OF AGREEMENT AND EARLY TERMINATION

12.1  Unless otherwise terminated by operation of law or by acts of the Parties
      in accordance with the terms of this Agreement, this Agreement shall be
      effective as of the date of execution by the last signing Party and shall
      remain in effect for the longer of 17 years or the life of any issued
      patent(s) or upon the extinguishment, including the appeal thereof, of all
      WSRC Patent Rights, whichever occurs first.

12.2  Either Party shall have the right to terminate this Agreement without
      judicial resolution after a breach of any provision by the other Party has
      gone uncorrected for sixty (60) days after the other Party has been
      notified in writing of such breach.

12.3  LICENSEE shall provide notice to WSRC of its intention to file a voluntary
      petition in bankruptcy or of another party's intention to file an
      involuntary petition in bankruptcy for LICENSEE, said notice to be
      received by WSRC at least thirty (30) days prior to filing such a
      petition. LICENSEE's failure to provide such notice to WSRC of such
      intentions shall be deemed a material and incurable breach of this
      Agreement.

                                     10/16
<PAGE>
12.4  LICENSEE agrees that this Agreement shall automatically terminate upon any
      attempt by LICENSEE to offer LICENSEE's rights under this Agreement as
      collateral to a third party.

12.5  LICENSEE, if not then in breach of any portion of this Agreement, may
      voluntarily terminate this Agreement upon giving sixty (60) days written
      notice to WSRC and upon timely reporting/payment to WSRC of any and all
      earned royalties due, including those royalties accruing during the notice
      period, or the pro rata portion of any annual minimum royalties due in the
      year of such termination, whichever is greater.

                     13. RIGHTS OF PARTIES AFTER TERMINATION

13.1  Neither Party shall be relieved of any obligation or liability under this
      Agreement arising from any act or omission committed prior to the
      effective date of such termination.

13.2  From and after any termination of this Agreement, LICENSEE shall have the
      right to sell any Licensed Products that LICENSEE had already manufactured
      prior to termination, provided that all royalties and reports required
      hereinabove shall be timely submitted to WSRC.

13.3  From and after any termination of this Agreement, LICENSEE shall not
      manufacture nor have manufactured any Licensed Products pursuant to this
      Agreement.

13.4  The rights and remedies granted herein, and any other rights or remedies
      which the Parties may have, either at law or in equity, are cumulative and
      not exclusive of others. On any termination, LICENSEE shall duly account
      to WSRC and transfer to it all rights to which WSRC may be entitled under
      this Agreement.

                                     11/16
<PAGE>
                        14. USE OF NAMES AND TRADEMARKS;
                             NONDISCLOSURE AGREEMENT

14.1  Except as provided for under this Agreement or as permitted by the express
      written consent of the affected Party, the use of the name of either Party
      or the Government, the U.S. Department of Energy, or the Savannah River
      Site or abbreviations or contractions thereof in advertising, publicity or
      other promotional activities is strictly prohibited.

14.2  Either Party may disclose the existence of this Agreement, the Parties,
      the technology licensed, and the nature of the grant. Neither Party may
      disclose to third parties those portions of this Agreement which have been
      identified by either Party as being proprietary by written notice given
      within thirty (30) days of the effective date of this Agreement, except
      those portions WSRC may be required to release under applicable law.

                                15. FORCE MAJEURE

15.1  No failure or omission by WSRC or by LICENSEE in the performance of any
      obligation under this Agreement shall be deemed a breach of this Agreement
      or create any liability if the same shall arise from acts of God, acts or
      omissions of any government or agency thereof, compliance with requests,
      recommendations, rules, regulations, or orders of any governmental
      authority or any office, department, agency, or instrumentality thereof,
      fire, storm, flood, earthquake, accident, acts of the public enemy, war,
      rebellion, insurrection, riot, sabotage, invasion, quarantine,
      restriction, transportation embargoes, or failures or delays in
      transportation.

                                16. ASSIGNABILITY

16.1  The Government may assign WSRC's interest in this Agreement to a successor
      Contractor for the Savannah River Site without the consent of LICENSEE.

16.2  This Agreement may be assigned by LICENSEE to a third party only in
      conjunction with the sale or transfer of substantially all of LICENSEE's
      assets,

                                     12/16
<PAGE>
      and only with the written consent of WSRC, which shall not be unreasonably
      withheld.

16.3  This Agreement may also be assigned by LICENSEE to Sequiam Corporation of
      Orlando, Florida within thirty (30) days of execution of this Agreement.

                         17. NON-ABATEMENT OF ROYALTIES

17.1  WSRC and LICENSEE acknowledge that certain of the WSRC Patent Rights may
      expire prior to the conclusion of the term of this Agreement; however,
      WSRC and LICENSEE agree that the royalty rates provided for herein shall
      be uniform and undiminished, except as otherwise provided pursuant to this
      Agreement.

                                   18. NOTICES

18.1  All notices and reports shall be addressed to the Parties hereto as
      follows:

      If to WSRC:
                   Attention:  Jean K. Campbell
                   Westinghouse Savannah River Company LLC
                   Savannah River Site, Bldg. 773-41A
                   Aiken, SC 29808
                   Telephone (803) 725-3852  Facsimile: (803) 725-4988

      If to LICENSEE:
                   Fingerprint Detection Technologies, Inc. (FDTI)
                   202 S. Wheeler Street, Suite 201
                   Plant City, FL 33563
                   ATTENTION:  Sam Reiber
                   Facsimile: (813) 754-2383  Telephone: (813) 754-4330

                                     13/16
<PAGE>
18.2  All payments due WSRC shall be sent to:

                   Westinghouse Savannah River Company
                   Attention:  Accounts Receivable
                   P.O. Box 402167
                   Atlanta, GA 30384-2167

18.3  Any notice, report or any other communication required or permitted to be
      given by one Party to the other Party by this Agreement shall be in
      writing and either (a) served personally on the other Party, (b) sent by
      express, registered or certified first-class mail, postage prepaid,
      addressed to the other Party at its address as indicated above, or to such
      other address as the addressee shall have previously furnished to the
      other Party by proper notice, (c) delivered by commercial courier to the
      other Party, or (d) sent by facsimile to the other Party at its facsimile
      number indicated above or to such other facsimile number as the Party
      shall have previously furnished to the other Party by proper notice, with
      machine confirmation of transmission.

                             19. DISPUTE RESOLUTION

19.1  The Parties shall attempt to settle any claim or controversy arising from
      this License Agreement through consultation and negotiations in good faith
      and a spirit of mutual cooperation. If those attempts fail, then the
      dispute will be mediated by a mutually acceptable mediator chosen by the
      Parties within 30 days after written notice by one Party demanding
      mediation. Neither Party may unreasonably withhold consent to the
      selection of a mediator, and the Parties will share the costs of the
      mediation equally. If the dispute cannot be resolved by negotiation or
      mediation, the matter will be referred to the cognizant DOE Contracting
      Officer for WSRC's prime contract, who will render a final decision within
      sixty (60) days. The decision will be final and binding upon the Parties.

19.2  It is the policy of WSRC that all employees, in the performance of their
      responsibilities, shall adhere to the highest possible standards of
      ethical and business conduct. WSRC has established an Ombudsman in the
      WSRC Ethics Office. The Ombudsman is responsible for helping to resolve
      LICENSEE complaints, disputes, or inquiries, arising under this Agreement
      when such concerns have not been resolved by responsible WSRC officials.
      The

                                     14/16
<PAGE>
      Ombudsman may be contacted by phone at (803) 725-2611. The Ombudsman will
      investigate the complaint or inquiry and provide the caller with a
      response. The caller may remain anonymous, if he or she chooses.

                                20. GOVERNING LAW

20.1  United States Federal Law shall govern this License Agreement to the
      extent that there is such law. To the extent that there is no applicable
      United States Federal Law, the law of the State of South Carolina shall
      govern.

                                   21. WAIVERS

21.1  The failure of WSRC at any time to enforce any provisions of this
      Agreement or to exercise any right or remedy shall not be construed to be
      a waiver or such provisions or of such rights or remedy or the right of
      WSRC thereafter to enforce each and every provision, right or remedy.

                                22. MODIFICATIONS

22.1  It is expressly understood and agreed by the Parties hereto that this
      instrument contains the entire agreement between the Parties with respect
      to the subject matter hereof and that all prior representations,
      warranties, or agreements relating hereto have been merged into this
      document and are thus superseded in totality by this Agreement. This
      Agreement may be amended or modified only by a written instrument signed
      by the duly authorized representatives of both of the Parties.

                                  23. HEADINGS

23.1  The headings for the sections set forth in this Agreement are strictly for
      the convenience of the Parties hereto and shall not be used in any way to
      restrict the meaning or interpretation of the substantive language of this
      Agreement.

                                     15/16
<PAGE>
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly
executed in their respective names by their duly authorized representatives.

FINGERPRINT DETECTION                     WESTINGHOUSE SAVANNAH
TECHNOLOGIES, INC. (FDTI)                 RIVER COMPANY LLC

By:                                       By:
   ---------------------------------         ----------------------------------
         (Signature)                                 (Signature)

Name:    Sam Reiber                       Name:
     -------------------------------           --------------------------------

Title:   President                        Title:
      ------------------------------            -------------------------------

Date:                                     Date:
     -------------------------------           --------------------------------

                                     16/16
<PAGE>
                                   APPENDIX A

                               WSRC PATENT RIGHTS

                 Related to WSRC License Agreement No. LA-03-002

The component parts of this Appendix A are as follows:

WSRC Patent Application No. 09/578,662, filed with the U.S. Patent and Trademark
Office on May 25, 2000 for a LED Intense Headband Light Source for Fingerprint
Analysis and based on:

-     WSRC Invention Disclosure No. SRS-99-053 entitled "LED Intense Headband
      Light Source for Fingerprint Analysis" by Eliel Villa-Aleman dated
      4/26/99.

-     DOE Letter, J.C. Durkis to M.B. Baxter dated July 26, 1999, accepting
      WSRC's request of July 6, 1999 to retain title to the LED Intense Headband
      Light Source for Fingerprint Analysis technology.

ACCEPTANCE OF APPENDIX A:

FINGERPRINT DETECTION                      WESTINGHOUSE SAVANNAH
TECHNOLOGIES, INC. (FDTI)                  RIVER COMPANY LLC

By:                                        By:
   -----------------------------------        ----------------------------------
             (Signature)                                  (Signature)
Date:                                      Date:
     ---------------------------------          --------------------------------

                                   APP. A-1/1
<PAGE>
                                   APPENDIX B

                     DEVELOPMENT AND COMMERCIALIZATION PLAN

                 Related to WSRC License Agreement No. LA-03-002

B.1   LICENSEE agrees to invest in the development of technology and market for
      Licensed Products by committing LICENSEE's commercially reasonable efforts
      and resources, to work towards achieving the following requirements:

      -     Prepare and deliver a commercialization business plan within sixty
            (60) days.

      -     Issue a press release within 3 days of the license and transfer to
            Sequiam as required by public companies

      -     Product ready for market by end of first quarter 2004

      -     Establish a website presence by end of first quarter 2004

      -     New product announcement by end of first quarter 2004

      -     Promote product at 4-5 law enforcement exhibitions, trade shows or
            conferences per year

      -     Sell 1500-3000 units by the end of 2004

      -     Utilize our current relationship with the National Sheriff's
            Association and their auxiliary members. Product will be a natural
            extension into this market

      -     Introduce product to current national and international network of
            law enforcement product distributors of Sequiam products and their
            end-users upon roll out of product.

B.2   Progress and substantiation of LICENSEE meeting these requirements shall
      be provided to WSRC in the form of a written report due on the first
      anniversary and each anniversary thereafter of the effective date thereof.
      The report shall include, but not be limited to, progress on research and
      development, regulatory approvals, if any, status of performance
      milestones, manufacturing issues, and marketing and sales figures for the
      most recently completed year and projections for the next year. At WSRC's
      option, LICENSEE further agrees to present the report at a meeting of the
      Parties to be held at mutually convenient time and place. In the event
      that LICENSEE fails to perform in accordance with Paragraph B.1 of this
      Appendix B and is unable or unwilling to cure within thirty (30) days any
      deficiencies found to WSRC's satisfaction, WSRC shall have the right and
      option to convert this exclusive license to a partially exclusive or
      nonexclusive license as provided in Section 4 "Due Diligence" of this
      Agreement.

                                   APP. B-1/2
<PAGE>
                                   N O T I C E

THIS APPENDIX CONTAINS FINANCIAL AND COMMERCIAL INFORMATION THAT IS BUSINESS
CONFIDENTIAL AND THE PARTIES HEREBY AGREE NOT TO USE OR DISCLOSE THIS APPENDIX
TO ANY THIRD PARTY WITHOUT THE ADVANCE WRITTEN APPROVAL OF THE OTHER PARTY
HERETO, EXCEPT TO THOSE NECESSARY TO ENABLE THE PARTIES TO PERFORM UNDER THIS
AGREEMENT OR AS MAY BE REQUIRED BY THE WSRC CONTRACT WITH THE DOE UNDER THE SAME
RESTRICTIONS AS SET FORTH HEREIN.

ACCEPTANCE OF APPENDIX B:

FINGERPRINT DETECTION                        WESTINGHOUSE SAVANNAH
TECHNOLOGIES, INC. (FDTI)                    RIVER COMPANY LLC

By:                                          By:
   ----------------------------------           --------------------------------
             (Signature)                                    (Signature)

Date:                                        Date:
     --------------------------------             ------------------------------

                                   APP. B-2/2
<PAGE>
                                   APPENDIX C

                         ISSUE FEE, EARNED ROYALTIES AND
                            MINIMUM ANNUAL ROYALTIES

                 Related to WSRC License Agreement No. LA-03-002

C.1   In consideration of the rights and licenses granted herein, LICENSEE
      agrees to pay WSRC a License Issue Fee in the amount of twenty thousand
      U.S. Dollars ($20,000) within thirty (30) days following final execution
      of this Agreement. The License Issue Fee is non-refundable and is not an
      advance against royalties. Should LICENSEE fail to make License Issue Fee
      payment to WSRC within thirty (30) days, this agreement shall be null and
      void.

C.2   LICENSEE further agrees to pay to WSRC an earned running royalty of four
      and one half percent (4.5%) of Net Sales of Licensed Products made,
      practiced, sold, leased or transferred by LICENSEE during the life of this
      Agreement.

C.3   LICENSEE also agrees to pay WSRC a Minimum Annual Royalty for the life of
      any license granted under this License Agreement, as set forth in the
      following schedule:

<TABLE>
<CAPTION>
                Period                             Minimum Annual Royalty(*)
                ------                             -------------------------
<S>                                                <C>
                Year 1                             $0
                Year 2                             $5,000
                Year 3                             $6,000
                Year 4 plus each year              $7,200
                thereafter until the end of the patent life.
</TABLE>

      (*) This Minimum Annual Royalty shall be paid even if earned royalties are
      less than the minimum required. Specifically, in the event that the earned
      royalties under Paragraph C.2 of this Appendix C do not equal the Minimum
      Annual Royalty amount, as set forth in this Paragraph C.3, then LICENSEE
      shall pay the actual earned royalties due plus the difference between such
      earned royalties (Paragraph C.2) and this Minimum Annual Royalty amount.
      Such differential amount (if any) shall be due and payable no later than
      November 30 of each year. No Minimum Annual Royalties shall be due for the
      first 12 months after consummating the

                                   APP. C-1/2
<PAGE>
      Licensing Agreement. Running royalties earned during any twelve-month
      period subject to Minimum Royalty Payments are fully creditable against
      the minimum due in that period.

C.4   If LICENSEE sublicenses third parties to practice and have practiced
      Licensed Product pursuant to Section 3 of this Agreement, LICENSEE further
      agrees to pay WSRC fifty percent (50%) of any and all consideration
      received from such Sublicensees and Sub-sublicensees

                                   N O T I C E

THIS APPENDIX CONTAINS FINANCIAL AND COMMERCIAL INFORMATION THAT IS BUSINESS
CONFIDENTIAL AND THE PARTIES HEREBY AGREE NOT TO USE OR DISCLOSE THIS APPENDIX
TO ANY THIRD PARTY WITHOUT THE ADVANCE WRITTEN APPROVAL OF THE OTHER PARTY
HERETO, EXCEPT TO THOSE NECESSARY TO ENABLE THE PARTIES TO PERFORM UNDER THIS
AGREEMENT OR AS MAY BE REQUIRED BY THE WSRC CONTRACT WITH THE DOE UNDER THE SAME
RESTRICTIONS AS SET FORTH HEREIN.

ACCEPTANCE OF APPENDIX C:

FINGERPRINT DETECTION                        WESTINGHOUSE SAVANNAH
TECHNOLOGIES, INC. (FDTI)                    RIVER COMPANY LLC

By:                                          By:
   ---------------------------------            --------------------------------
             (Signature)                                    (Signature)

Date:                                        Date:
     -------------------------------              ------------------------------

 WSRC EXPL CAA0402                  APP. C-2/2                  LA-03-002  FDTI

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