Document:

ex4-1.htm

    Exhibit
4.1

    SECURED
PROMISSORY NOTE

    $500,000.00 
Boca Raton, Florida

     June
19, 2009

    

    FOR VALUE RECEIVED, ACXESS INC., a
Florida corporation (the “Borrower”), hereby agrees to pay to INNOVATIVE
SOFTWARE TECHNOLOGIES, INC. (the “Holder”), at 911 Ranch Road 620 North, Suite
204, Austin, Texas, 78734, or at such other place as the Holder may designate in
writing from time to time, the principal sum of FIVE HUNDRED THOUSAND AND 00/100
DOLLARS ($500,000.00), together with interest on the principal balance of this
obligation from time to time remaining unpaid, at the rate and at the times
provided in this Note.  All payments required by this Note must be by
legal tender of the United States of America.

    

    1.           Interest.  The
outstanding principal amount of this Note shall bear interest beginning on the
date of this Note at a rate equal to eight percent (8%) per annum, calculated on
the basis of a 360-day year for the actual number of days elapsed through the
actual payment date.  Interest shall accrue and be paid at maturity
with the principal balance.  Notwithstanding anything contained
herein, from and after the occurrence and during the continuance of an Event of
Default pursuant to Section 5 below, this Note shall bear interest on the due
and unpaid principal amount at the rate (the “Default Rate”) equal to the lower
of sixteen percent (16%) per annum or, if lower, the highest rate permitted by
law

    

    2.           Security.  This
Note is secured by certain assets of Borrower pursuant to a Security Agreement
of even date herewith between Borrower and Holder.

    

    3.           Method of
Repayment.  The total amount of this Note shall be paid in one
payment three (3) years from the date of this Note (the “Maturity
Date”).

    

    4.           Prepayments.  This
Note may be prepaid at Borrower’s option without the consent of the Holder,
either in whole or in part, at any time and from time to time without premium or
penalty.  Should Borrower prepay any portion of the principal amount
of this Note, Borrower shall be entitled to a proportionate reduction in
principal of up to Three Hundred and Fifty Thousand and 00/100 Dollars
($350,000.00), as reflected on the Discount Schedule attached hereto as Exhibit
A.  Interest shall only accrue on the remaining discounted principal
in the event of any prepayment.

    

    5.           Events of
Default.  For purposes of this Note, an “Event of Default”
is:  (i) a failure to pay any portion of the principal amount or
interest on this Note when due, (ii) admission by the Borrower of its inability
to pay its debts generally as they become due or otherwise acknowledges its
insolvency; (iii) the filing of a petition in bankruptcy by the Borrower or the
execution by the Borrower of a general assignment for the benefit of creditors;
(iv) the filing against the Borrower of a petition in bankruptcy or a petition
for relief under the provisions of the federal bankruptcy code or another state
or federal law for the relief of debtors and the continuation of such petition
without dismissal for a period of ninety (90) days or more, (v) the Borrower’s
ceasing to carry on business, (vi) the sale, transfer, or other disposition of
all or substantially all of the assets of the Borrower or a merger, acquisition,
consolidation or similar transaction which results in the Borrower’s
stockholders immediately prior to such transaction holding less than fifty
percent (50%) of the voting power of the surviving, continuing or purchasing
entity; or (vii) a breach by Borrower of any covenant, condition, or obligation
contained in the Stock Purchase Agreement of even date herewith between Borrower
and Holder or the Licensing Agreement of even date herewith between Borrower and
Holder.  If an Event of Default occurs, the Holder may declare all of
the outstanding principal amount of this Note, including any interest due
thereon, to be due and payable immediately.  The Borrower shall pay
interest on such amount in cash at the Default Rate to the Holder if such amount
is not paid within two (2) days of Holder’s request.  The remedies
under this Note shall be cumulative.

    

    6.           Waivers.  No
delay on the part of the Holder in exercising any right or remedy hereunder
shall operate as a waiver of such right or remedy.  No single or
partial exercise of a right or remedy shall preclude other or further exercise
of that or any other right or remedy.  The failure of the Holder to
insist upon the strict performance of any term of this Note, or to exercise any
right or remedy hereunder, shall not be construed as a waiver or relinquishment
by the Holder for the future of that term, right or remedy.  No waiver
of any right of the Holder hereunder shall be effective unless in writing
executed by the Holder.

    

    7.           Severability.  The
unenforceability or invalidity of any provision or provisions of this Note as to
any persons or circumstances shall not render that provision or those provisions
unenforceable or invalid as to any other provisions or circumstances, and all
provisions hereof, in all other respects, shall remain valid and
enforceable.

    

    8.           WAIVER OF JURY
TRIAL.  THE BORROWER AND THE HOLDER ACKNOWLEDGE THAT THE RIGHT
TO TRIAL BY JURY MAY BE WAIVED.  EACH PARTY, AFTER CONSULTING (OR
HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF THEIR CHOICE, KNOWINGLY
AND VOLUNTARILY, AND FOR THEIR MUTUAL BENEFIT, WAIVES ANY RIGHT TO TRIAL BY JURY
IN THE EVENT OF LITIGATION REGARDING THE PERFORMANCE OR ENFORCEMENT OF, OR IN
ANY WAY RELATED TO, THIS NOTE.

    

    9.           Binding
Effect.  This Note shall be binding on and inure to the benefit
of the parties hereto and their respective successors and assigns.

    

    10.         Governing Law and
Venue.  This Note shall be governed by and construed in
accordance with the laws of the State of Florida, without reference to
principles of choice of law thereunder.  The venue for any judicial or
arbitration proceedings arising out of this Note or the obligations hereunder
shall be in the state courts of the State of Florida located in Palm Beach
County, Florida.

    

    11.         Compliance With Usury
Laws.  As it is the intent of all parties to this transaction
to abide by the interest limitations of any applicable usury law, it is
expressly agreed, anything herein to the contrary notwithstanding, that the
Holder shall not be allowed or entitled to collect any interest (or any sum
which is considered interest by law) which is in excess of any legal rate
applicable hereto.  Should any amount be collected hereunder which
would cause the interest to exceed said lawful rate, such part of said amount in
excess of the lawful rate shall automatically be credited to principal, or, if
all principal amounts have been paid, shall be refunded to
Borrower.  The provisions of this Note are hereby modified to the
extent necessary to conform with the limitations and provisions of this
paragraph.  This paragraph shall govern over all other provisions in
any document or agreement now or hereafter existing.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.          Documentary Stamp Tax
Liability.  The Holder shall
pay any and all documentary stamp tax and/or any other excise tax due and
payable on this Note. The Holder shall further indemnify and save harmless
Borrower from any documentary stamp tax or intangibles tax assessed by the State
of Florida with respect to this Note, including, without limitation, any
penalties and interest.

    

    13.         
Costs.  In the event
that this Note is collected by law or through attorneys at law, or under advice
therefrom, the Borrower hereby agrees to pay all costs of collection, including
reasonable attorneys’ fees an costs, whether or not suit is brought, and whether
incurred in connection with collection, trial, appeal, bankruptcy or other
creditors’ proceedings or otherwise.

    

    14.          Application of
Payments.  All principal, interest and any other amounts due
under this Note shall be payable in lawful money of the United States of America
at the place or places above stated.  All payments shall be credited
first to costs and expenses, if any, incurred by Holder in collecting any
amounts due hereunder, second to any late payment charges and interest accrued
at the Default Rate (as defined above), third to past due interest, fourth to
principal and any other amounts due hereunder.

    

    

    IN
WITNESS WHEREOF, the Borrower has executed and delivered this Note effective as
of the date stated above.

    

    
      	 
      	
              BORROWER:

              ACXESS
      INC., a
      Florida corporation

               

              By:
      /s/ Thomas J.
      Elowson                            
      

               

              Print
      Name:Thomas
      J.
      Elowson                    
      

               

              Title:
      President                                              
       

            

    

     

     

     

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
A

    Discount
Schedule on Principal Amount of Note for Prepayments

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Prepayments
      – Months 1 through 3

                              
	
                                Prepayment Amount

                              	 	 	
                                Percentage Discount

                              	 	 	
                                Resulting Note Discount

                              	 	 	
                                Remaining Principal

                              
	$	50,000.00	 	 	 	33.3	%	 	$	166,500.00	 	 	$	333,500.00
	$	75,000.00	 	 	 	50	%	 	$	250,000.00	 	 	$	250,000.00
	$	100,000.00	 	 	 	66.6	%	 	$	333,000.00	 	 	$	167,000.00
	$	150,000.00	 	 	 	100	%	 	$	500,000.00	 	 	$	0.00

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
          
            
              
                	
                        Prepayments
      – Months 4 through 6

                      
	
                        Prepayment Amount

                      	 	 	
                        Percentage Discount

                      	 	 	
                        Resulting Note Discount

                      	 	 	
                        Remaining Principal

                      
	$	50,000.00	 	 	 	25	%	 	$	125,000.00	 	 	$	375,000.00
	$	100,000.00	 	 	 	50	%	 	$	250,000.00	 	 	$	250,000.00
	$	150,000.00	 	 	 	75	%	 	$	375,000.00	 	 	$	125,000.00
	$	200,000.00	 	 	 	100	%	 	$	500,000.00	 	 	$	0.00

              

            

          

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Prepayments
      – Months 7 through 12

                                
	
                                  Prepayment Amount

                                	 	 	
                                  Percentage Discount

                                	 	 	
                                  Resulting Note Discount

                                	 	 	
                                  Remaining Principal

                                
	$	50,000.00	 	 	 	22.22	%	 	$	111,100.00	 	 	$	388,900.00
	$	100,000.00	 	 	 	44.44	%	 	$	222,200.00	 	 	$	277,800.00
	$	150,000.00	 	 	 	66.66	%	 	$	333,300.00	 	 	$	166,700.00
	$	200,000.00	 	 	 	88.88	%	 	$	444,400.00	 	 	$	55,600.00
	$	225,000.00	 	 	 	100	%	 	$	500,000.00	 	 	$	0.00

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    
      
        
          
            
              	
                      Prepayments
      – Months 13 through 18

                    
	
                      Prepayment Amount

                    	 	 	
                      Percentage Discount

                    	 	 	
                      Resulting Note Discount

                    	 	 	
                      Remaining Principal

                    
	$	50,000.00	 	 	 	20	%	 	$	100,000.00	 	 	$	400,000.00
	$	100,000.00	 	 	 	40	%	 	$	200,000.00	 	 	$	300,000.00
	$	150,000.00	 	 	 	60	%	 	$	300,000.00	 	 	$	200,000.00
	$	200,000.00	 	 	 	80	%	 	$	400,000.00	 	 	$	100,000.00
	$	250,000.00	 	 	 	100	%	 	$	500,000.00	 	 	$	0.00

            

          

        

      

    

     

    
      
        
          
            
              	
                      Prepayments
      – Months 19 through 24

                    
	
                      Prepayment Amount

                    	 	 	
                      Percentage Discount

                    	 	 	
                      Resulting Note Discount

                    	 	 	
                      Remaining Principal

                    
	$	50,000.00	 	 	 	18.18	%	 	$	90,900.00	 	 	$	409,100.00
	$	100,000.00	 	 	 	36.36	%	 	$	181,800.00	 	 	$	318,200.00
	$	150,000.00	 	 	 	54.54	%	 	$	272,700.00	 	 	$	227,300.00
	$	200,000.00	 	 	 	72.72	%	 	$	363,600.00	 	 	$	136,400.00
	$	250,000.00	 	 	 	90.90	%	 	$	454,500.00	 	 	$	45,500.00
	$	275,000.00	 	 	 	100	%	 	$	500,000.00	 	 	$	0.00

            

          

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Prepayments
      – Months 25 through 30

                            
	
                              Prepayment Amount

                            	 	 	
                              Percentage Discount

                            	 	 	
                              Resulting Note Discount

                            	 	 	
                              Remaining Principal

                            
	$	50,000.00	 	 	 	16.66	%	 	$	83,300.00	 	 	$	416,700.00
	$	100,000.00	 	 	 	33.33	%	 	$	166,650.00	 	 	$	333,500.00
	$	150,000.00	 	 	 	50	%	 	$	250,000.00	 	 	$	250,000.00
	$	200,000.00	 	 	 	66.66	%	 	$	333,300.00	 	 	$	166,700.00
	$	250,000.00	 	 	 	83.33	%	 	$	416,650.00	 	 	$	83,350.00
	$	275,000.00	 	 	 	91.66	%	 	$	458,300.00	 	 	$	41,700.00
	$	300,000.00	 	 	 	100	%	 	$	500,000.00	 	 	$	0.00ex4-2.htm

    Exhibit
4.2

    SECURITY
AGREEMENT

     

    THIS SECURITY AGREEMENT (this
"Agreement") is made and entered into as of the 19th day of June, 2009, by and
between AcXess, Inc., a Florida corporation ("AcXess"), and Innovative Software
Technologies, Inc., a California corporation ("Secured Party").

    Recitals

     

    WHEREAS, Pursuant to that
certain Stock Purchase Agreement dated July 24, 2007 among AcXess, Secured
Party, Torn Elowson, Ray Leitz, and Helge Solberg (the "Stock Purchase
Agreement"), AcXess has executed a Secured Promissory Note of even date herewith
in favor of Secured Party in the principal amount of Five Hundred Thousand
Dollars ($500,000) (the "Note").

     

    WHEREAS, Secured Party has
required, as a condition to entering into the transactions contemplated by the
Stock Purchase Agreement, that AcXess grant Secured Party a first priority
security interest in all of AcXess's assets and property, and to that end has
required the execution and delivery of this Agreement by AcXess.

     

    NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained in the Note and
herein, the parties hereto, intending to be legally bound, agree as
follows:

     

    1. Incorporation of
Recitals. Purchase Agreement, and Note. The foregoing Recitals, the Note,
and the Guarantee Agreement, and the terms and provisions thereof, are hereby
incorporated herein in their entirety by this reference.

     

    2. Definitions. The
following terms shall have the meanings set forth below:

    "Obligations"
means each and every debt, liability, and obligation of every type and
description, including without limitation any debt, liability, and obligation
arising under or in connection with the Note and Stock Purchase Agreement, and
the related documents entered into in connection therewith, which AcXess may now
or at any time hereafter owe to Secured Party, whether such debt, liability, or
obligation now exists or is hereafter created or incurred and whether it is or
may be direct or indirect, due or to become due, absolute or contingent, primary
or secondary, liquidated or unliquidated, independent, joint, several, or joint
and several.

     

    "Security
Interest" has the meaning given in Section 3.

     

    "Collateral"
means all assets and personal and fixture property of any kind and nature
whatsoever now owned or hereafter acquired by AcXess, whether tangible or
intangible, including without limitation all of AcXess's right, title, and
interest in and to the property and assets listed on Exhibit A, including all
proceeds thereof and all increases, substitutions, replacements, additions, and
accretions thereof.

     

    3. Security Interest. To
secure payment of the Obligations, AcXess hereby irrevocably pledges and assigns
to, and grants Secured Party a first priority security interest (the "Security
Interest"). with power of sale to the extent permitted by law, in the
Collateral.

     

    4. Representations and
Warranties. AcXess represents and warrants as follows:

     

    (a) Authority. AcXess has
authority to enter into this Security Agreement and any person signing it on
AcXess's behalf has been duly authorized to take such action.

     

    (b) Financing Statements.
Except for the financing statements in favor of Secured Party, and the financing
statements in favor of Gulf Pointe Capital, LLC, at the time of granting the
security interest described herein, no financing statement covering the
Collateral or any portion thereof will be on file in any public office and
AcXess agrees not to execute or authorize the filing of any such additional
financing statement in favor of any person, entity or governmental agency
(whether federal, state or local) other than Secured Party as long as any
portion of the Obligations evidenced by the Note remain unpaid.

     

    (c) Legal Name. AcXess's
exact legal name is as set forth in the first paragraph of this Security
Agreement. AcXess shall not change its legal name or its form of organization
without thirty (30) days' prior written notice to Secured Party,

     

    5. Covenants and
Agreements. AcXess covenants and agrees as follows:

     

    (a) Restrictions Future
Agreements. AcXess agrees that until the Obligations shall have been
satisfied in full, AcXess shall not, without Secured Party's prior written
consent, assign, transfer or otherwise dispose of the Collateral, and AcXess
further agrees that it will not take any action, or permit any action to be
taken by others subject to its control, including licensees, or fail to take any
action, which would affect the validity or enforcement of the rights transferred
to Secured Party under this Agreement.

     

    (b) Defense. AcXess shall
at its own expense and using commercially reasonable efforts, protect and defend
the Collateral against all claims or demands,

     

    (c) Maintenance. AcXess
shall at all times and at its own expense maintain and keep, or cause to be
maintained and kept, the Collateral in good repair, working order, and
condition; pay and discharge when due all taxes, license fees, levies and other
charges upon it; and not permit it to be used in violation of any applicable
law, regulation or policy of insurance,

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d) Secured Party's Right to
Take Action. If AcXess fails to perform or observe any of its covenants
or agreements set forth in this Section 5, or if AcXess notifies Secured Party
that it intends to abandon any part of the Collateral, Secured Party may (but
need not) perform or observe such covenant or agreement or take steps to prevent
such intended abandonment on behalf and in the name, place and stead of AcXess
(or, at Secured Party's option, in Secured Party's own name) and may (but need
not) take any and all other actions which Secured Party may reasonably deem
necessary to cure or correct such failure or prevent such intended
abandonment.

     

    (e) Costs and Expenses.
Except to the extent that the effect of such payment would be to render any loan
or forbearance of money usurious or otherwise illegal under any applicable law,
AcXess shall pay Secured Party on demand the amount of all moneys expended and
all costs and expenses (including reasonable attorneys' fees and disbursements)
incurred by Secured Party in connection with or as a result of Secured Party's
taking action under subsection 5(d) or exercising its rights under Section 7,
together with interest thereon from the date expended or incurred by Secured
Party,

     

    (f) Power of Attorney. To
facilitate Secured Party's taking action under subsection 5(d) and exercising
its rights under Section 7, AcXess hereby irrevocably appoints (which
appointment is coupled with an interest) Secured Party, or its representatives
or agents, as the attorney-in-fact of AcXess with the right (but not the duty)
from time to time to create, prepare, complete, execute, deliver, endorse, or
file, in the name and on behalf of AcXess, any and all instruments, documents,
applications, financing statements, and other agreements and writings required
to be obtained, executed, delivered or endorsed by AcXess under this Section 5,
or, reasonably necessary for Secured Party, after an Event of Default, to
lawfully enforce or use the Collateral, or to sell, assign, transfer, pledge,
encumber or otherwise transfer title in or dispose of the Collateral to any
third party. AcXess hereby ratifies all that such attorney shall lawfully do or
cause to be done by virtue hereof. The power of attorney granted herein shall
terminate upon the payment in full and performance of all
Obligations,

     

    6. Events of Default.
Each of the following occurrences shall constitute an event of default under
this Agreement (herein called "Event of Default"):

     

    (a) an Event
of Default, as defined in the Note, shall occur; or

     

    (b) AcXess
shall fail promptly to observe or perform any material covenant or agreement
herein binding on it; or

     

    (c) there is
any levy, seizure, or attachment of all or any portion of the Collateral;
or

     

    (d) any of
the representations or warranties contained in Section 4 shall prove to have
been incorrect in any material respect when made.

     

    7. Remedies. Upon the
occurrence of an Event of Default and at any time thereafter, Secured Party may,
at its option, take any or all of the following actions:

     

    (a) exercise
any or all remedies available under this Agreement, the Note, or the Guarantee
Agreements; or

     

    (b) sell,
assign, transfer, pledge, encumber, or otherwise dispose of the Collateral;
or

     

    (c) incur
expenses, including attorneys' fees at the regular hourly rates of Secured
Party's counsel from time to time in effect, legal expenses and costs for the
exercise of any right or power under this Security Agreement, which expenses are
secured by this Security Agreement.

     

    8. Miscellaneous. TIME
IS OF THE ESSENCE in this Security Agreement. This Agreement can he waived,
modified, amended, terminated or discharged, and the Security Interest can be
released, only explicitly in a writing signed by Secured Party, A waiver signed
by Secured Party shall be effective only in the specific instance and for the
specific purpose given, Mere delay or failure to act shall not preclude the
exercise or enforcement of any of Secured Party's rights or remedies. All rights
and remedies of Secured Party shall be cumulative and may be exercised
singularly or concurrently, at Secured Party's option, and the exercise or
enforcement of any one such right or remedy shall neither be a condition to nor
bar the exercise or enforcement of any other, Secured Party shall not be
obligated to preserve any rights AcXess may have against prior parties, to
realize on the Collateral at all or in any particular manner or order, or to
apply any cash proceeds of the Collateral in any particular order of
application. This Agreement shall be binding upon and inure to the benefit of
AcXess and Secured Party and their respective participants, successors, and
assigns and shall take effect when signed by AcXess and Secured Party, and
AcXess waives notice of Secured Party's acceptance hereof, This Agreement shall
be governed by the internal law of the State of Florida without regard to
conflicts of law provisions. If any provision or application of this Agreement
is held unlawful or unenforceable in any respect, such illegality or
unenforceability shall not affect other provisions or applications which can be
given effect and this Agreement shall be construed as if the unlawful or
unenforceable provision or application had never been contained herein or
prescribed hereby. All representations and warranties contained in this
Agreement shall survive the execution, delivery and performance of this
Agreement and the creation and payment of the Obligations,

     

    9. Waiver of Jury
Trial:  ACXESS HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES THE RIGHT ACXESS MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
BASED HEREON OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT AND
ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR ANY COURSE
OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS
OF EITHER PARTY, THIS PROVISION IS A MATERIAL INDUCEMENT FOR SECURED PARTY
ENTERING INTO THIS AGREEMENT.

    
       

      [SIGNATURES
ON FOLLOWING PAGES]

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    IN WITNESS WHEREOF, the
parties have duly executed and delivered this Security Agreement as of the date
and year first written above.

     

    
      
        
          
            	 
      	
                    SECURED
      PARTY:

                    Innovative
      Software Technologies, Inc.

                  
	 
      	
                    By:

                  	
                    /s/ Robert V.
      Rudman                      

                  
	 
      	
                    Name:

                  	
                    Robert
      Rudman

                  
	 
      	
                    Title:

                  	
                    Chief
      Executive Officer/President

                  
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                    ACXESS:

                    AcXess,
      Inc.

                  
	 
      	
                    By:

                  	
                    /s/ Thomas Elowson
                            

                  
	 
      	
                    Name:

                  	
                    Thomas
      J. Elowson

                  
	 
      	
                    Title:

                  	
                    President

                  

          

        

      

    

     

    STATE
OF Flordia )

    

    COUNTY
OF Palm Beach )

     

    The
foregoing instrument was acknowledged before me this 19th day of June, 2009, by
Robert Rudman, a CEO/ President of Innovative Software Technologies, A Deleware
Corporation.

     

    /s/
Connie Jo
Horsley                    

    Notary
Public

    

    IN WITNESS WHEREOF, the
parties have duly executed and delivered this Security Agreement as of the date
and year first written above.

     

    
      
        
          	 
      	
                  SECURED
      PARTY:

                  Innovative
      Software Technologies, Inc.

                
	 
      	
                  By:

                	
                  /s/ Robert V.
      Rudman                      

                
	 
      	
                  Name:

                	
                  Robert
      Rudman

                
	 
      	
                  Title:

                	
                  Chief
      Executive Officer/President

                
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                  ACXESS:

                  AcXess,
      Inc.

                
	 
      	
                  By:

                	
                  /s/ Thomas Elowson 
                            

                
	 
      	
                  Name:

                	
                  Thomas
      J. Elowson

                
	 
      	
                  Title:

                	
                  President

                

        

      

    

     

    
      STATE
OF Flordia )

      

      COUNTY
OF Palm Beach )

       

      The
foregoing instrument was acknowledged before me this 19th day of June, 2009, by
Robert Rudman, a CEO/ President of Innovative Software Technologies, A Deleware
Corporation.

       

      /s/
Connie Jo
Horsley                    

      Notary
Public

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
A

    Collateral

     

    (a) All
accounts, consisting of every right to payment for goods or other property of
any kind sold or leased or for services rendered or for any other transaction,
whether or not the right to payment has been earned by performance, and
including without limitation every account receivable, all purchase orders, all
interest in goods the sale or lease of which gives rise to the right to payment
(including returned or repossessed goods and unpaid seller's rights), and the
rights pertaining to such goods, including the right to stoppage in transit,
every right to payment under any contract, and every lien, guaranty, or security
interest that secures a right to payment for any of the foregoing ("Accounts");

     

    (b) All
chattel paper, consisting of a writing or writings evidencing both a monetary
obligation and a security interest in or lease of goods, together with any
guarantees, letters of credit, and other security therefore ("Chattel
Paper");

     

    (c) Deposit
Accounts, as that term is defined in the Revised Uniform Commercial Code, as in
effect in the State of Florida (the "UCC");

     

    (d) All
inventory of whatever kind, as that term is used in the UCC ("Inventory"),
including without limitation all goods held by the Company for sale or lease,
goods furnished or to be furnished under a contract for service, and supplies,
packaging, raw materials, goods in transit, work-in-process, and materials used
or consumed or to be used or consumed in the Company's business, or in the
processing, packaging, or shipping of same, all finished goods, and all
property, the sale or lease of which has given rise to Accounts, Chattel Paper,
or Instruments, and that has been returned to the Company or repossessed by the
Company or stopped in transit, and all warranties and related claims, credits,
setoffs, and other rights of recovery with respect to any of the
foregoing;

     

    (e) All
equipment, including without limitation all equipment, machinery, and other
property held for use in or purchased for the Company's business, together with
all increases, parts, fittings, accessories, repair equipment, and special tools
now or later affixed to, or used in connection with, that property, all
transferable rights of the Company to the licenses and warranties (express and
implied) received from the sellers and manufacturers of the foregoing property,
all related claims, credits, setoffs, and other rights of recovery ("Equipment");

     

    (f) All
instruments, including without limitation every instrument of any kind, as that
term is used in the UCC, and includes every promissory note, negotiable
instrument, certificated security, or other writing that evidences a right to
payment of money, that is not a lease or security agreement, and that is
transferred in the ordinary course of business by delivery with any necessary
assignment or endorsement ("Instruments");

     

    (g) Investment
Property, as that term is defined in the UCC ("Investment
Property");

     

    (h) All
documents, including without limitation any paper that is treated in the regular
course of business as adequate evidence that the person in possession of the
paper is entitled to receive, hold, and dispose of the goods the paper covers,
including warehouse receipts, bills of lading, certificates of title, and
applications for certificates of title ("Documents");

     

    (i) All
general intangibles of any kind, as that term is used in the UCC ("General
Intangibles"), and includes without limitation all intangible personal
property other than Accounts, Documents, Instruments, and Chattel Paper, and
includes without limitation money, contract rights, corporate or other business
records, deposit accounts, inventions, designs, formulas, patents, patent
applications, service marks, trademarks, trade names, trade secrets, engineering
drawings, goodwill, rights to prepaid expenses, registrations, franchises,
copyrights, licenses, customer lists, computer programs and other software,
source code, tax refund claims, royalty, licensing and product rights, all
claims under guarantees, security interests or other security held by or granted
to Debtor to secure payment of any of the Accounts by an Account Debtor, all
indemnification rights, and rights to retrieval from third parties of
electronically processed and recorded data pertaining to any Collateral, things
in action, items, checks, drafts, and orders in transit to or from Debtor,
credits or deposits of Debtor (whether general or special) that are held by
Secured Party;

     

    (j) Supporting
obligations, as that term is defined in the UCC ("Supporting
Obligations"); and

     

    (k) To the
extent not listed above as original collateral, proceeds and products of the
foregoing. Without in any way limiting the generality of the foregoing, the
Collateral includes all intellectual property of the Company, including its
Copyrights (as defined below), Patents (as defined below), and Trademarks (as
defined below).

     

    "Copyrights" means all
types of protective rights granted (or applications therefor) for any work that
constitutes copyrightable subject matter recognized under federal law and all
comparable rights recognized in foreign jurisdictions or conventions or by
treaty.

     

    "Patents" means all
types of exclusionary or protective rights granted (or applications therefor)
for inventions, patents, patent applications, and all reissues and extensions
thereof and all renewals, divisions, continuations and continuations-in-part
thereof, recognized under federal law and all comparable rights recognized in
foreign jurisdictions or conventions or by treaty.

     

    "Trademarks" means (a)
all trademarks, trade names, corporate names, company names, business names,
fictitious business names, trade styles, service marks, logos, interne domain
names and other sources of business identifiers used in any country in the
world, whether registered or unregistered, and the goodwill associated
therewith, now existing or hereafter acquired, and (b) all registrations,
recordings and renewals thereof, and all applications in connection therewith,
issued by, filed in or otherwise recognized by a national, state, or foreign
governmental authority or any foreign jurisdiction or convention or by
treaty.

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