Document:

exhibit_101.htm

    Exhibit 10.1

    SEPARATION AGREEMENT &
MUTUAL RELEASE

     

    THIS
SEPARATION AGREEMENT AND GENERAL RELEASE (this “Agreement”), dated December 2,
2009 is made by and between Betawave Corporation (“Company”), a Delaware
corporation maintaining its principal offices at 706 Mission St., 10th
Floor, San Francisco, CA 94103, and Matt Freeman an individual residing at
[omitted] ("Employee,” and, collectively with Company, the “Parties,” and each a
“Party”).

     

    Whereas,
Employee and Company are parties to that Employment Agreement, dated December 3,
2008; and

     

    Whereas,
Employee’s employment with Company is terminated as of November 30, 2009 (the
“Separation Date”); and

     

    Whereas,
Employee will continue to serve on Company’s board of directors;
and

     

    Whereas,
the Parties wish to resolve any and all disputes arising out of Employee’s
employment and the termination thereof and Company and Employee wish to release
each other from any claims arising from or related to the employment
relationship.

     

    NOW,
THEREFORE, in consideration of the mutual promises made herein, Company and
Employee hereby agree as follows:

     

    1. Termination of Employment;
Continuance of Service as Director. Employee and Company agree to
terminate the employment relationship as of the Effective Date. Employee will
continue to serve as a director on Company’s board of directors.

     

    2. Accrued Salary and Vacation;
Commissions; Expense Reimbursement.  Company will pay Employee
all accrued salary (including all salary deferred from August 15, 2009 through
the Separation Date), all accrued and unused PTO benefits and all unpaid
commissions earned through the Separation Date, if any, subject to standard
payroll deductions, withholding taxes and other obligations. Employee
understands that he is entitled
to this payment regardless of whether or not he signs this Agreement. Employee
agrees that, except as set forth below, he has submitted his final documented
expense reimbursement statement reflecting all business expenses he incurred
prior to and including the Separation Date, and acknowledges receipt of the full
amount of reimbursement therefor; provided, however, that Employee may submit
one final expense reimbursement statement, not to exceed $1,000, within one
month of the Separation Date.

     

    3. Separation Benefits.
In consideration for the release of claims set forth below and other obligations
under this Agreement, and provided that Employee has returned to Company all
Company property in his possession, and provided further  that this
Agreement is signed by Employee and not revoked under Section 10 herein, Company
will pay Employee: (i) his current base salary for six months, equal to
$300,000, subject to normal payroll tax deductions, in monthly installments in
the form of a salary continuation in accordance with the Company’s payroll
procedures and practice; (ii) his current base salary for an additional six
months, equal to $300,000, subject to normal payroll tax deductions, in monthly
installments in the form of a salary continuation in accordance with the
Company’s payroll procedures and practice after the first six months following
the Separation Date less any amount of salary paid to Employee by a new employer
corresponding to this second six month period; (iii) a one-time lump sum payment
of $75,000 payable prior to December 31, 2010, subject to applicable
withholding.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Benefits. Employee
will be offered benefits to which he is entitled under the Consolidated Omnibus
Budget Reconciliation Act of 1985 (“COBRA”), and Employee retains all benefits
under Company’s 401(k) Plan. If Employee timely elects COBRA benefits, the
Company will reimburse Employee for the full premium of Employee’s COBRA
benefits for a period of up to twelve months after the Separation
Date

     

    5. Stock Options. As of
the Separation Date, all shares subject to stock options that would vest through
November 30, 2010 under the Award Agreements (as hereinafter defined) shall
immediately vest and any shares that would vest after November 30, 2010 are
hereby cancelled. As used herein, “Award Agreements” means (i) Employee’s Stock
Option Agreement dated June 5, 2008 for 2,500,000 shares (exercise price $0.23);
(ii) Employee’s Stock Option Agreement dated June 5, 2008 for 2,500,000 shares
(exercise price $0.80) and (iii) Employee’s Stock Option Agreement dated
December 2, 2008 for 19,583,706 shares. All shares subject to Employees’
liquidity stock option awards (five separate grants of 999,441 shares each)
dated December 2, 2008 (the “Liquidity Stock Options”) shall immediately vest in
the event of a Liquidation Event (as defined in the Liquidity Stock Options)
between the Separation Date and November 30, 2010 and any unvested shares as of
December 1, 2010 shall be immediately canceled as of such date.

     

    6. No Other
Entitlement.

     

    6.1. The
parties agree that Company has paid Employee all compensation earned through the
date of termination, any accrued vacation benefits (PTO), as well as any
unreimbursed business expenses and other sums due to Employee. By executing this
Agreement, Employee hereby acknowledges receipt of all such payments as
received.

     

    6.2. Employee
confirms that no other monies are due to him from Company relating to his
service as an employee. Employee acknowledges that he has no entitlement to
receive the consideration set forth in Section 3 above, other than in
consideration of his general release of all claims against Company.

     

    7. Company Property.
Employee shall immediately return all Company property in his possession or
control.

     

    8. Confidential
Information. Employee recognizes and acknowledges that the performance of
his services for Company has resulted in its disclosure to him of certain
proprietary and confidential and financial information. Employee agrees
that:

     

    8.1.  he
will not disclose or use any of Company’s confidential, proprietary or financial
information for his own or any other person’s or entity’s benefit unless such
use or disclosure is specifically consented to in writing by
Company.

     

    8.2. he will
not, directly or indirectly, for himself or on behalf of any other person or
entity, induce or attempt to induce any of Company’s personnel to do anything
contrary to the best interests of Company.

     

    9. Non-Disparagement.
Both Employee and the Company agree not to make any disparaging remarks, or
otherwise take any action that could reasonably be anticipated to cause material
damage to the reputation, goodwill or business of the other party (or, in the
event of the Company, to any employees of Company) or otherwise make remarks
that may reflect negatively upon the other party (or any of its Employees, if
applicable) in any context or setting.

     

    10. Mutual Release of
Claims. In consideration for the obligations of both parties set forth in
this Agreement, Employee and Company, on behalf of themselves, and their
respective heirs, executors, officers, directors, employees,
stockholders, administrators, successor corporations and assigns, hereby fully
and forever release each other and their respective heirs, executors, officers,
directors, employees, stockholders, administrators, co-employers (including
TriNet HR Corporation), successor corporations and assigns, of and from any
claim, duty, obligation or cause of action relating to any matters of any kind,
whether presently known or unknown, suspected or unsuspected, that any of them
may possess arising from any omissions, acts or facts that have occurred up
until and including the date of this Agreement including, without
limitation:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    10.1. any and
all claims relating to or arising from Employee’s employment relationship with
Company and the termination of that relationship;

     

    10.2. any and
all claims for wrongful discharge of employment; breach of contract, both
express and implied; breach of a covenant of good faith and fair dealing, both
express and implied, negligent or intentional infliction of emotional distress;
negligent or intentional misrepresentation; negligent or intentional
interference with contract or prospective economic advantage; negligence; and
defamation;

     

    10.3. any and
all claims for violation of any federal, state or municipal statute, including,
but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights
Act of 1991, the Americans with Disabilities Act of 1990, the
Fair Labor Standards Act; the Fair Credit Reporting Act; the Age Discrimination
in Employment Act of 1967; the Older Workers Benefit Protection Act; the
Employee Retirement Income Security Act of 1974; the Worker Adjustment and
Retraining Notification Act; the Family and Medical Leave Act; the
Sarbanes-Oxley Act of 2002; the New York Equal Pay Law, the New York Human
Rights Law, the New York Civil Rights Act, the New York City Human Rights Act
and the New York City Administrative Code – Title 8;

     

    10.4. any and
all claims arising out of any other laws and regulations relating to employment
or employment discrimination; and

     

    10.5. any and
all claims for attorneys’ fees and costs.

     

    The
Parties agree that the release set forth in this section shall be and remain in
effect in all respects as a complete general release as to the matters
released.  Notwithstanding any other term in this Agreement, this
release does not extend to any obligations incurred under this
Agreement.  This release does not release claims that cannot be
released as a matter of law.

     

    11. Acknowledgment of Waiver of
Claims under ADEA.  Employee acknowledges that he is waiving
and releasing any rights he may have under the Age Discrimination in Employment
Act of 1967 (“ADEA”), and that this waiver and release is knowing and
voluntary.  Employee agrees that this waiver and release does not
apply to any rights or claims that may arise under the ADEA after the Effective
Date (as defined below).  Employee acknowledges that the consideration
given for this waiver and release is in addition to anything of value to which
Employee was already entitled.  Employee further acknowledges that he
has been advised by this writing that: (a) he should consult with an attorney
prior to executing this Agreement; (b) he has twenty-one (21) days within which
to consider this Agreement; (c) he has seven (7) days following his execution of
this Agreement to revoke the Agreement; (d) this Agreement shall not be
effective until after the revocation period has expired; and (e) nothing in this
Agreement prevents or precludes Employee from challenging or seeking a
determination in good faith of the validity of this waiver under the ADEA, nor
does it impose any condition precedent, penalties, or costs for doing so, unless
specifically authorized by federal law.  In the event Employee signs
this Agreement and returns it to the Company in less than the 21-day period
identified above, Employee hereby acknowledges that he has freely and
voluntarily chosen to waive the time period allotted for considering this
Agreement.  Employee acknowledges and understands that revocation must
be accomplished by a written notification to the Company (Attn: David Lorie),
that is received prior to the Effective Date. This Agreement will become
effective after seven (7) days have passed since Employee signed the Agreement,
provided that it is not revoked before that date (the “Effective
Date”).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12. No Admission. This
Agreement shall not be in any way construed as an admission by Company that it
has acted wrongfully with respect to Employee or any other person, or that
Employee has any rights whatsoever against Company.

     

    13. Miscellaneous.

     

    13.1. Successors and
Assigns. This agreement shall be binding on the parties and upon their
heirs, administrators, representatives, executors, successors and assigns and
shall inure to their benefit and to that of their heirs, administrators,
representatives, executors, successors and assigns.

     

    13.2. Severability. The
provisions of this Agreement are severable. If any provision is held to be
invalid or unenforceable, it shall not affect the validity or enforceability of
any other provision. A court may modify any otherwise unenforceable clause set
forth herein to render this Agreement enforceable.

     

    13.3. Headings. The
headings of the sections contained in this Agreement are for convenience only
and shall not be deemed to control or affect the meaning or construction of any
provision of this Agreement.

     

    13.4. Counterparts. This
Agreement may be executed in counterparts, and each counterpart shall have the
same force and effect as an original and shall constitute an effective, binding
agreement on the part of each of the undersigned.

     

    13.5. Notices. Any notice
given to a party shall be in writing and shall be deemed to have been given when
delivered personally or sent to by certified or registered mail, postage
prepaid, return receipt requested, or by a nationally recognized courier
service, duly addressed to the party concerned at the address indicated in the
introductory paragraph hereto, or to such changed address as such party may
subsequently give such notice of.

     

    13.6. Governing Law;
Arbitration. This Agreement shall be governed by and construed under the
laws of the State of New York as such laws are applied to contracts made and to
be fully performed entirely within that state between residents of that state.
Any claim, dispute or controversy arising out of this Agreement, the
interpretation, validity or enforceability of this Agreement or the alleged
breach thereof shall be submitted by the parties to binding arbitration by the
American Arbitration Association under its then existing commercial
rules.  The site of the arbitration proceeding shall be in New York
City, or another location mutually agreed to by the parties.

     

    13.7. Entire Agreement;
Modification. This Agreement sets forth the entire agreement between the
parties hereto and supersedes any and all prior oral or written agreements or
understandings between Employee and Company concerning the subject matter of
this Agreement. This Agreement may not be altered, amended or modified, except
by a further written document signed by both parties.

     

    13.8. Voluntary Execution and
Acceptance. This Agreement is executed voluntarily and without any duress
or undue influence on the part or behalf of the parties hereto, with the full
intent of releasing all claims. The parties acknowledge that:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              13.8.1.  

            	
              they
      have read this Agreement and are fully aware of its legal and binding
      effect;

            

    

     

    
      	
              13.8.2.  

            	
              the
      terms of this Agreement are the product of mutual negotiation and
      compromise between Employee and
Company;

            

    

     

    
      	
              13.8.3.  

            	
              they
      understand the terms and consequences of this Agreement and of the
      releases it contains and that this Agreement settles, bars, and waives any
      and all claims that the parties have or could possibly have against the
      other party, unless prohibited from releasing such claim by
      law;

            

    

     

    
      	
              13.8.4.  

            	
              they
      have been represented in the preparation, negotiation, and execution of
      this Agreement by legal counsel of their own choice or that they have
      voluntarily declined to seek such counsel EMPLOYEE WAS ADVISED AND
      ENCOURAGED BY COMPANY TO CONSULT WITH AN ATTORNEY OR ANYONE ELSE OF his
      CHOOSING WHO IS NOT EMPLOYED BY
COMPANY.

            

    

     

    Company
and Employee now voluntarily and knowingly execute this Agreement, as of the
date first above.

     

    
      	
              BETAWAVE
      CORPORATION

               

              /s/ Tabreez Verjee

              
                 

              

              By:
      Tabreez Verjee

              Its:  President

               

              Date:
      12/1/09

            	
              Matt
      Freeman

               

              /s/ Matt Freeman

              
                 

              

              Date:
      12/2/09PROMISSORY NOTE

EXHIBIT 10.2

UNSECURED PROMISSORY NOTE

		
	Principal Amount:  $___________

	Issue Date:  November 9, 2009

FOR VALUE RECEIVED, Brekford International Corp., a Delaware corporation (the “Borrower”), hereby promises to pay to the order of ____________ (the “Lender”), located at ______________________ (Lender and all other or subsequent holders of this promissory note (the “Note”) being sometimes referred to as the “Holder”), the principal sum of _______ Dollars ($_________) (the “Loan”) together with interest on the unpaid principal amount until paid in full, upon the following terms:

1.

Interest. The aggregate unpaid principal balance of the Loan shall bear interest at a rate of twelve percent (12.0%) per annum (non-compounded) calculated on a 365/366 day year, as applicable. 

2.

Payment Terms.  The Borrower agrees to pay the unpaid principal balance of this Note and all accrued and unpaid interest on the date that is the earlier of (i) two (2) years from the Issue Date of this Note as set forth above, or (ii) ten (10) business days from the date of closing by Borrower of any equity financing generating gross proceeds in the aggregate amount of not less than Five Million Dollars ($5,000,000) (the “Maturity Date”).  Borrower may prepay all or any part of interest or principal at any time without penalty with written notice to Holder; provided however, that the Holder shall have the right to convert the Note or portion thereof to be prepaid in accordance with Section 3 hereof prior to such prepayment by Borrower.  In such event, the Note or portion thereof so converted shall be deemed satisfied, and the Borrower will have no further obligation under the Note with respect to such converted portion in any way other than to issue the Shares.

3.

Conversion Rights.

(a)

Conversion.  The Holder, at his or her option, so long as any portion of this Note remains outstanding, may elect to convert any outstanding and unpaid principal portion of this Note, and any accrued and unpaid interest (the date of delivery of a completed Notice of Conversion in the form annexed hereto to the Borrower’s Chief Financial Officer being a “Conversion Date”) into shares (“Shares”) of the Borrower’s common stock, par value $.0001 per share (“Common Stock”), at a price of seven cents ($0.07) per Share (the “Conversion Price”), subject to adjustment as provided in Section 3(b) herein. Upon delivery to the Borrower’s Chief Financial Officer or other executive officer of the Borrower performing a similar function of a completed Notice of Conversion, a form of which is annexed hereto, Borrower shall issue and deliver to the Holder within five (5) business days after the Conversion Date a certificate evidencing the Shares issuable for the portion of the Note converted in accordance with the foregoing.  The Shares issuable upon conversion of this Note shall be determined by dividing that portion of the principal of the Note and interest, if any, to be converted, by the Conversion Price.  On the Conversion Date any and all obligations of the Borrower with respect to the portion of the Note so converted shall be deemed satisfied, and the Borrower will have no further obligation under the Note with respect to such converted portion in any way other than to issue the Shares.

(b)

 Adjustment.  The Conversion Price and number and kind of Shares or other securities to be issued upon conversion determined pursuant to Section 3(a), shall be subject to adjustment from time to time upon the happening of certain events while this conversion right remains outstanding, as follows:

(i)

Merger, Sale of Assets, etc.  If the Borrower at any time shall consolidate with or merge into or sell or convey all or substantially all its assets to any other corporation, this Note, as to the unpaid principal portion thereof and accrued interest thereon, shall thereafter be deemed to evidence the right to purchase such number and kind of shares or other securities and property as would have been issuable or distributable on account of such consolidation, merger, sale or conveyance, upon or with respect to the securities subject to the conversion or purchase right immediately prior to such consolidation, merger, sale or conveyance.  The foregoing provision shall similarly apply to successive transactions of a similar nature by any such successor or purchaser.

(ii)

Reclassification, etc.  If the Borrower at any time shall, by reclassification or otherwise, change the Shares into the same or a different number of securities of any class or classes that may be issued or outstanding, this Note, as to the unpaid principal portion thereof and accrued interest thereon, shall thereafter be deemed to evidence the right to purchase an adjusted number of such securities and kind of securities as would have been issuable as the result of such change with respect to the Shares issuable immediately prior to such reclassification or other change.

(iii)

Splits, Combinations and Dividends.  If the Shares are subdivided or combined into a greater or smaller number of Shares, or if a dividend is paid on the Shares in the form of additional Shares, the Conversion Price shall be proportionately reduced in case of subdivision of Shares or Share dividend or proportionately increased in the case of combination of Shares, in each such case by the ratio which the total number of Shares outstanding immediately after such event bears to the total number of Shares outstanding immediately prior to such event.

(c)

Method of Conversion.  This Note may be converted by the Holder in whole or in part as described in Section 3(a) hereof.  Upon partial conversion of this Note, a new Note containing the same date and provisions of this Note shall, at the request of the Holder, be issued by the Borrower to the Holder for the principal balance of this Note which shall not have been converted or paid.

(d)

Stockholder Status.  The Holder shall not have rights as a stockholder of the Borrower with respect to unconverted portions of this Note.  However, the Holder will have all the rights of a stockholder of the Borrower with respect to the Shares to be received by Holder after delivery by the Holder of a Conversion Notice to the Borrower.

4.

Event of Default. The occurrence of any of the following events of default (“Event of Default”) shall, at the option of the Holder hereof, make all sums of principal and interest then remaining unpaid hereon and all other amounts payable hereunder immediately due and payable, upon written demand from Holder, which Event of Default has not been cured within sixty (60) calendar days of receipt by Borrower of such written demand:

(a)

Failure to Pay Principal and Interest.  The Borrower fails to pay the entire principal and any accrued and unpaid interest due hereunder on the Maturity Date.  

(b)

Bankruptcy. Filing by the Borrower of a voluntary petition under the United States Bankruptcy Code, or under any other insolvency act or law, state or federal, now or hereafter existing; or any action indicating the Borrower’s consent to, approval of, or acquiescence in, any such petition or proceeding; or the Borrower’s consent to the appointment of a receiver or trustee for all or a substantial part of their respective properties; or the making of an assignment to the benefit of the creditors on behalf of the Borrower.

(c)

Insolvency Etc. Filing of an involuntary petition against the Borrower under the United States Bankruptcy Code, or under any other insolvency act or law, state or federal, now or 

2

hereafter existing; or the involuntary appointment of a receiver or trustee for all or a substantial part of the Borrower's property; or the issuance of a warrant of attachment, execution or similar process against any substantial part of such properties, which remains undismissed, unbonded or undischarged ninety (90) days’ after issuance. 

Failure of the Holder, for any period of time or on more than one occasion, to exercise its option to accelerate the Maturity Date shall not constitute a waiver of the right to exercise the same at any time during the continued existence of any Event of Default or any subsequent Event of Default.

5.

Maximum Payments. Nothing contained herein shall be deemed to establish or require the payment of a rate of interest in excess of the maximum permitted by applicable law.  In the event that the rate of interest required to be paid or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Borrower to the Holder and thus refunded to the Borrower.  

6.

Miscellaneous.

(a)

Notices.  All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery addressed as set forth below or to such other address as such party shall have specified most recently by written notice.  Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery at the address or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.  The addresses for such communications shall be: (i) if to the Company, to: Brekford International Corp., 7020 Dorsey Road, Suite C, Hanover, Maryland 21076, Attn: Chief Financial Officer, with a copy by telecopier only to: Greenberg Traurig, P.A., 5100 Town Center Circle, Suite 400, Boca Raton, FL 33486, Attn: Bruce C. Rosetto, Esq., Telecopier: (561) 367-6225, and (ii) if to the Holder, at the address of the Holder set forth above.

(b)

Entire Agreement; Assignment.  This Note represents the entire agreement between the parties hereto with respect to the subject matter hereof and may be amended only by a writing executed by both parties.  Neither the Borrower nor the Holder have relied on any representations not contained or referred to herein.  This Note may not be assigned by Holder or Borrower at any time without prior written consent of the other party.  This Note will be binding in all respects upon Borrower and inure to the benefit of Holder and its permitted successors and assigns.

(c)

Governing Law.  This Note shall be governed by and construed in accordance with the laws of the State of Maryland without regard to conflicts of laws principles that would result in the application of the substantive laws of another jurisdiction.  Any action brought by either party against the other concerning the transactions contemplated by this Note shall be brought only in the civil or state courts of Maryland or in the federal courts located in or in closest proximity to Anne Arundel County, Maryland.  In the event that any provision of this Note or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law.  Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement.

3

(d)

Waiver of Jury Trial.  TO THE FULLEST EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, EACH OF THE PARTIES HEREBY WAIVES THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS NOTE. THE PARTIES ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS RELIED ON THE WAIVER IN ENTERING INTO THIS NOTE AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. THE PARTIES WARRANT AND REPRESENT THAT THEY EACH HAVE HAD THE OPPORTUNITY OF REVIEWING THIS JURY WAIVER WITH LEGAL COUNSEL, AND THAT EACH KNOWINGLY AND VOLUNTARILY IRREVOCABLY WAIVES ITS JURY TRIAL RIGHTS.

(e)

Amendment and Waivers. Any term or provision of this Note may be amended, and the observance of any term of this Note may be waived (either generally or in a particular instance and either retroactively or prospectively) by a writing signed by the Borrower with the consent of the Holder, and such waiver or amendment, as the case may be, shall be binding upon the Borrower and Holder. The waiver by Holder of any breach hereof or default in the performance hereof shall not be deemed to constitute a waiver of any other default or any succeeding breach or default. 

(f)

Injunctive Relief, Consent to Jurisdiction.  The Holder shall not be entitled to injunctive relief to prevent or cure breaches of the provisions of this Note.  Subject to contrary provisions herein, each of the Borrower, Holder and any signatory hereto in his or her personal capacity hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.  Nothing in this section shall affect or limit any right to serve process in any other manner permitted by law.

[Signature Page Follows]

4

IN WITNESS WHEREOF, this Note has been executed and delivered by the Borrower as of the date and year first above written.

			
	 
	Brekford International Corp.

	 
	 
	 

	                                                                                                        

	By:

	 

	 
	Name:  

	Tin Khin

	 
	Title:

	Chief Financial Officer  

Accepted and Agreed:

By:  ___________________________________

Name: 

Title:  

5

NOTICE OF CONVERSION

(To be executed and delivered by the Holder in order to convert the Note)

The undersigned hereby elects to convert $_________ of the principal and $_________ of the interest due on the Note issued by Brekford International Corp. (the “Borrower”) on ______________, 20___ into Shares of the Borrower according to the conditions set forth in such Note, as of the date written below.

		
	Date of

Conversion:

	 

	 
	 

	Conversion

Price:

	 

	 
	 

	Shares To Be  

Issued:

	 

	 
	 

	Signature:

	 

	 
	 

	Print

Name:

	 

	 
	 

	Address:

	 

	 
	 

	 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}]]