Document:

Exhibit 10.1  

February 28,
2002 

Mr. Paul
Devermann

525 Anton Blvd.

Suite 400

Costa Mesa CA 92626 

Dear
Paul: 

        When
signed by you in the space provided below, this letter will represent an amendment to the Employment Agreement (the "Agreement") between ImageWare Systems, Inc. and you dated
July 20, 1997 and revised March 1, 1999 wherein that Agreement will be extended through March 1, 2003 and extended thereafter for additional one year terms unless either party
shall give thirty (30) day notice prior to the expiration of a term. All other terms remain in effect as written in the Agreement. 

Sincerely 

/s/  Jim
Miller 

Jim
Miller

Chairman and CEO 

Accepted
and Agreed: 

/s/  Paul
Devermann 

Paul
DevermannQuickLinks
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Exhibit 10.1.4  

 
 

Exhibit A
  
    SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash capital contribution
	 	Partnership units issued
	 	Approx. Percentage Interests
	 	Federal ID #

	02/12/1997	 	Golf Legends Ltd., Inc.

P.O. Box 2038

1500 Legends Drive

Myrtle Beach, SC 29578	 	$	30,647,030	 	1,532,352	 	 	 	57-0886834
	

04/2/2001	
 	

Legends (conversion)	
 	
 	

 	
 	

(294,613	
)	

 	
 	

 
	

07/31/2001	
 	

Redemption at disposition	
 	
$	

(14,852,868	
)	

(1,237,739	
)	

 	
 	

 
	

07/31/2001	
 	

Residual Value	
 	
$	

(15,794,162	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Legends Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

02/12/1997	
 	

Seaside Resorts Ltd., Inc.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

16,129,118	
 	

806,456	
 	

 	
 	

57-0729308
	

07/31/2001	
 	

Redemption at disposition	
 	
 	

(9,677,472	
)	

(806,456	
)	

 	
 	

 
	

07/31/2001	
 	

Residual Value	
 	
 	

(6,451,646	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Seaside Resorts Ltd., Inc. Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

02/12/1997	
 	

Heritage Golf Club, Ltd., Inc.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

16,031,230	
 	

801,561	
 	

 	
 	

57-0818596
	

01/6/1999	
 	

Heritage (conversion)	
 	
 	

 	
 	

(11,700	
)	

 	
 	

 
	

07/31/2001	
 	

Redemption at disposition	
 	
 	

(9,478,332	
)	

(789,861	
)	

 	
 	

 
	

07/31/2001	
 	

Residual Value	
 	
 	

(6,552,898	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Heritage Golf Club, Ltd., Inc. Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

02/12/1997	
 	

Legends of Virginia L.C.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

11,963,738	
 	

598,187	
 	

 	
 	

57-1003883
	

04/2/2001	
 	

Legends (conversion)	
 	
 	

 	
 	

(598,187	
)	

 	
 	

 
	

07/31/2001	
 	

Residual Value	
 	
 	

(11,963,738	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Legends of Virgiania Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

02/12/1997	
 	

Northgate

16055 Northgate Forest Drive

Houston, TX 77068	
 	
$	

3,797,071	
 	

189,854	
 	

 	
 	

76-0527250
	

05/20/1998	
 	

Northgate (redemption)	
 	
 	

(158,969	
)	

(5,000	
)	

 	
 	

 
	

01/6/1999	
 	

Northgate (conversion)	
 	
 	

—	
 	

(30,000	
)	

 	
 	

 
	

03/2/2001	
 	

Northgate (conversion)	
 	
 	

 	
 	

(60,581	
)	

 	
 	

 
	

03/26/2002	
 	

Northgate (redemption)	
 	
 	

(534,999	
)	

(94,273	
)	

 	
 	

 
	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 

	

03/26/2002	
 	

Residual Value	
 	
 	

(3,103,103	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Northgate Total	
 	
$	

—	
 	

0	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

02/12/1997	
 	

Olde Atlanta Golf Club Limited Partnership

c/o The Crescent Company

1580 S. Milwaukee Ave., Suite 101

Libertyville, IL 60048	
 	
$	

1,444,926	
 	

72,246	
 	

 	
 	

36-3834881
	

04/13/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(62,837.60	
)	

(2,000	
)	

 	
 	

 
	

05/20/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(64,017.60	
)	

(2,000	
)	

 	
 	

 
	

08/21/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(52,387.50	
)	

(1,500	
)	

 	
 	

 
	

12/10/1998	
 	

Olde Atlanta (redemption)	
 	
$	

(30,166.11	
)	

(1,150	
)	

 	
 	

 
	

01/20/1999	
 	

Olde Atlanta (redemption)	
 	
$	

(66,078.50	
)	

(2,500	
)	

 	
 	

 
	

04/6/1999	
 	

Olde Atlanta (conversion)	
 	
$	

—	
 	

(2,000	
)	

 	
 	

 
	

05/1/1999	
 	

Olde Atlanta (recapitalization)	
 	
$	

683,967	
 	

30,826	
 	

 	
 	

 
	

05/27/1999	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(2,000	
)	

 	
 	

 
	

07/15/1999	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(3,500	
)	

 	
 	

 
	

01/10/2000	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(3,300	
)	

 	
 	

 
	

01/26/2000	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(4,100	
)	

 	
 	

 
	

04/28/2000	
 	

Olde Atlanta (correction from 3/24/99)	
 	
 	

 	
 	

2,000	
 	

 	
 	

 
	

08/14/2000	
 	

Olde Atlanta (conversion)	
 	
 	

 	
 	

(10,600	
)	

 	
 	

 
	

07/9/2001	
 	

Redemption at disposition	
 	
 	

(757,036.50	
)	

(70,422	
)	

 	
 	

 
	

07/9/2001	
 	

Residual Value	
 	
 	

(1,096,369.48	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Olde Atlanta Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

02/12/1997	
 	

Bright's Creek Development Co. LLC

104 Cotton Creek Drive

Gulf Shores, AL 36542	
 	
$	

2,119,005	
 	

105,950	
 	

 	
 	

63-1120089
	

05/1/2001	
 	

Redemption at disposition	
 	
 	

(1,271,400	
)	

(105,950	
)	

 	
 	

 
	

05/1/2001	
 	

Residual Value	
 	
 	

(847,605	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Woodlands Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

10/31/1996	
 	

David Dick Joseph

14 North Adger's Wharf

Charleston, SC 29401	
 	
 	

—	
 	

12,500	
 	

0.00	
%	

###-##-####
	

12/14/1999	
 	

David Dick Joseph (conversion)	
 	
 	

 	
 	

(12,500	
)	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

 	
 	
 	

—	
 	

—	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 

	

02/4/1997	
 	

W. Bradley Blair, II

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

12,500	
 	

0.16	
%	

###-##-####
	 	 	
	 	
	 	
	 	
	 	

	

02/4/1997	
 	

James Hoppenrath

422 1/2 Marguerite Ave.

Corona Del Mar CA 92625	
 	
$	

—	
 	

3,750	
 	

0.00	
%	

###-##-####
	

01/6/2000	
 	

James Hoppenrath (conversion)	
 	
 	

 	
 	

(3,750	
)	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

 	
 	
$	

—	
 	

—	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	

06/20/1997	
 	

Golf Host Resorts, Inc.

c/o Starwood Capital Group, LP

Three Pickwick Plaza, Suite 250

Greenwich, CT 06830	
 	
$	

—	
 	

274,039	
 	

0.00	
%	

84-0631130
	

03/3/2000	
 	

Golf Host (conversion)	
 	
 	

 	
 	

(274,039	
)	

 	
 	

 
	

 	
 	

 	
 	
 	

—	
 	

 	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	

09/2/1997	
 	

John J. Rainieri, Sr.

Betty Rainieri

4350 Mayfair Road

Uniontown, OH 44685	
 	
$	

3,198,168	
 	

114,237	
 	

 	
 	

###-##-####

###-##-####
	

01/4/2001	
 	

Redemption at disposition	
 	
$	

(910,632	
)	

(75,886	
)	

 	
 	

 
	

05/16/2001	
 	

Redemption at disposition	
 	
$	

(460,212	
)	

(38,351	
)	

 	
 	

 
	

05/16/2001	
 	

Residual Value	
 	
$	

(1,827,324	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Rainieri Total	
 	
$	

—	
 	

0	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

09/2/1997	
 	

Raintree Country Club, Inc.

4350 Mayfair Road

Uniontown, OH 44685	
 	
$	

204,138	
 	

7,292	
 	

0.00	
%	

34-1736212
	

01/4/2001	
 	

Raintree (redemption at disposition)	
 	
$	

(87,504	
)	

(7,292	
)	

 	
 	

 
	

01/4/2001	
 	

Residual Value

(Value at Issue—Value at Redemption)	
 	
$	

(116,634	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Raintree Country Club, Inc. Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

09/30/1997	
 	

Eagle Watch Golf Club, Limited Partnership

c/o E. Neal Trogdon

The Crescent Company

1580 South Milwaukee Avenue,

Suite 101

Libertyville, IL 60048	
 	
$	

1,890,682	
 	

70,158	
 	

 	
 	

36-3903287
	

11/2/1998	
 	

Eagle Watch (redemption)	
 	
$	

(64,199.00	
)	

(2,150	
)	

 	
 	

 
	

05/21/1999	
 	

Eagle Watch (conversion)	
 	
 	

 	
 	

(1,250	
)	

 	
 	

 
	

04/28/2000	
 	

Eagle Watch (correction from 3/24/99)	
 	
 	

 	
 	

(2,000	
)	

 	
 	

 
	

07/9/2001	
 	

Redemption at disposition	
 	
$	

(696,148.50	
)	

(64,758	
)	

 	
 	

 
	

07/9/2001	
 	

Residual Value	
 	
$	

(1,130,334.50	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Eagle Watch Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 

	

10/17/1997	
 	

Properties of the Country, Inc.

102 West Crestview Circle, Suite 100

Louisburg, KS 66053	
 	
$	

500,000	
 	

19,231	
 	

 	
 	

48-1157265
	

03/16/2001	
 	

Redemption at disposition	
 	
 	

(230,772	
)	

(19,231	
)	

 	
 	

 
	

03/16/2001	
 	

Residual Value	
 	
 	

(269,228	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Properties of the Country, Inc. Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

11/25/1997	
 	

Granite Golf Corporation

1510 N. Hayden Road, Suite 7

Scottsdale, AZ 85260	
 	
$	

650,000	
 	

24,424	
 	

 	
 	

86-0926890
	

07/2/1999	
 	

Granite Golf (redemption)	
 	
 	

(200,257	
)	

(8,393	
)	

 	
 	

 
	

07/27/1999	
 	

Granite Golf (redemption)	
 	
 	

(237,935	
)	

(10,354	
)	

 	
 	

 
	

08/13/1999	
 	

Granite Golf (redemption)	
 	
 	

(125,746	
)	

(5,677	
)	

 	
 	

 
	

08/13/1999	
 	

Residual Value

(Value at Issue—Value at Redemption)	
 	
 	

(86,062

—	
)
	

—	
 	

0.00	

%	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

 	
 	
$	

—	
 	

—	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	

12/19/1997	
 	

Stonehenge Golf Development, LLC

90 Mallet Hill Road

Columbia, SC 29223	
 	
$	

4,500,000	
 	

169,811	
 	

 	
 	

56-2027442
	

01/10/2000	
 	

Stonehenge Golf (conversion)	
 	
 	

 	
 	

(50,000	
)	

 	
 	

 
	

06/20/2000	
 	

Stonehenge Golf (conversion)	
 	
 	

 	
 	

(25,471	
)	

 	
 	

 
	

03/26/2002	
 	

Stonehenge Golf (conversion)	
 	
 	

 	
 	

(94,340	
)	

 	
 	

 
	

08/13/1999	
 	

Equity Reclass	
 	
 	

(4,500,000	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

 	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

01/16/1998	
 	

Mystic Creek Golf Club, Limited Partnership

1303 West Commerce Road

Milford, MI 48380	
 	
$	

1,500,000	
 	

52,724	
 	

0.66	
%	

38-3187304
	 	 	
	 	
	 	
	 	
	 	

	

02/1/1998	
 	

Okeechobee Championship Golf, Inc.

2100 Emerald Dunes Drive

West Palm Beach, FL 33411	
 	
$	

6,138,369	
 	

227,347	
(1)	

0.12	
%	

65-0115196
	

09/7/2001	
 	

Redemption at disposition	
 	
 	

(2,289,924	
)	

(218,088	
)	

 	
 	

 
	

09/7/2001	
 	

Residual Value

(Value at Issue—Value at Redemption)	
 	
 	

(3,598,452	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

Okeechobee Championship Golf, Inc. Total	
 	
$	

249,993	
 	

9,259	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	

(1) Includes 218,088 Class A Common Units issued with a valuation of $5,888,376 and 9,259 Class B Common OP Units issued with a valuation of $249,993
	

05/22/1998	
 	

Eagle Ridge Lease Company LLC

16100 N. Greenway-Hayden Loop

Scottsdale, AZ 85260	
 	
$	

1,198,750	
 	

35,794	
 	

0.45	
%	

52-2099405
	 	 	
	 	
	 	
	 	
	 	

	

05/28/1998	
 	

Golf Classic Resorts, LLC

536 South Avenue

Glencoe, IL 60022	
 	
$	

879,995	
 	

26,357	
 	

0.00	
%	

85-0453484
	

11/26/1999	
 	

Golf Classic Resorts (redemption)	
 	
$	

(199,633	
)	

(11,577	
)	

 	
 	

 
	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 

	

12/31/1999	
 	

Golf Classic Resorts (redemption)	
 	
$	

(34,517	
)	

(2,060	
)	

 	
 	

 
	

02/7/2000	
 	

Golf Classic Resorts (redemption)	
 	
$	

(221,408	
)	

(12,720	
)	

 	
 	

 
	

02/7/2000	
 	

Residual Value

(Value at Issue—Value at Redemption)	
 	
$	

(424,437	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

 	
 	
 	

—	
 	

—	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	

08/28/1998	
 	

Osage National Golf Club LLC

900 Hickory Street

St. Louis, MO 63104	
 	
$	

3,451,068	
 	

124,700	
 	

 	
 	

43-1735431
	

06/30/1999	
 	

Osage (Redemption)	
 	
$	

(1,393,382	
)	

(58,576	
)	

 	
 	

 
	

06/20/2000	
 	

Osage (Redemption)	
 	
$	

(1,055,101	
)	

(66,124	
)	

 	
 	

 
	

06/20/2000	
 	

Residual Value

(Value at Issue—Value at Redemption)	
 	
$	

(1,002,585	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

	
 	

 	
 	

 
	

 	
 	

 	
 	
 	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	

12/14/1998	
 	

Brentwood Golf & Country Club, Inc.

4801 Faircourt, West Bloomfield, MI 48322

PO Box 386, Union Lake, MI 48387	
 	
$	

650,000	
 	

24,482	
 	

0.00	
%	

38-3148750
	

06/20/2000	
 	

Brentwood (Redemption)	
 	
$	

(390,645	
)	

(24,482	
)	

 	
 	

 
	

06/20/2000	
 	

Residual Value	
 	
$	

(259,355	
)	

 	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	

 	
 	

 	
 	
 	

—	
 	

—	
 	

 	
 	

 
	

12/22/1998	
 	

Gutta-Percha Golf, Inc.

365 W. California Blvd. Suite 2

Pasadena, CA 91105	
 	
$	

870,000	
 	

32,986	
 	

0.00	
%	

95-4493507
	

09/5/2000	
 	

Palm Desert (Redemption)	
 	
$	

(460,785	
)	

(32,986	
)	

 	
 	

 
	

09/5/2000	
 	

Residual Value	
 	
$	

(409,215	
)	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

	
 	

 	
 	

 	
 	

 
	

 	
 	

 	
 	
$	

—	
 	

—	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

	

02/4/1997	
 	

GTA LP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

7,856,289	
 	

98.42	
%	

58-2290326
	 	 	
	 	
	 	
	 	
	 	

	

02/4/1997	
 	

GTA GP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

16,154	
 	

0.20	
%	

58-2290217
	 	 	
	 	
	 	
	 	
	 	

	

Total Common OP Units	
 	
 	

 	
 	

7,982,720	
 	

100.00	
%	

 
	
Series A Preferred OP Units
	

04/2/1999	
 	

GTA LP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	
 	
 	

20,000,000	
 	

800,000	
 	

100	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	
Series B Preferred OP Units
	

05/11/1999	
 	

Metamora Golf Operating Company, L.L.C.

c/o Total Golf, Inc.

1303 W. Commerce Drive

Milford, MI 48380	
 	
 	

295,003	
 	

10,169	
 	

 	
 	

38-3462287
	
 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 

	

09/25/2000	
 	

Redemption at Disposition	
 	
 	

(295,003	
)	

(10,169	
)	

 	
 	

 
	

 	
 	

 	
 	

	
 	

 	
 	

 	
 	

 
	

 	
 	

 	
 	
 	

—	
 	

—	
 	

0.00	
%	

 
	 	 	
	 	
	 	
	 	
	 	

	
Series C Preferred OP Units
	

07/28/1999	
 	

Burning Embers Corporation

801 Aaron Smith Drive

Bridgeport, WV 26330	
 	
 	

1,350,000	
 	

48,949	
 	

 	
 	

55-0720833
	

06/20/2001	
 	

Redemption (foreclosure on collateral)	
 	
 	

(1,350,000	
)	

(48,949	
)	

 	
 	

 
	

 	
 	

 	
 	

	
 	

 	
 	

 	
 	

 
	

 	
 	

 	
 	
 	

—	
 	

—	
 	

0.00	
%	

 
	

 	
 	

 	
 	

	
 	

 	
 	

 	
 	

 
	 	 	
	 	
	 	
	 	
	 	

QuickLinks

Exhibit A SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}]]