Document:

Exhibit
      10.176

     

    
 

    Compensatory
      Arrangements with Certain 

    Executive
      Officers and Directors

    

    

    Set
      forth
      below are the base salaries of the named executive officers of Mace Security
      International, Inc. for the fiscal year as well as the discretionary cash
      bonuses they were paid for performance in 2005: 

    

    

    
      	
              Name

            	
               

            	
               

            	
              Office

            	
               

            	
               

            	
              Fiscal
                2006 Salary

            	
               

            	
               

            	
              Cash
                Bonus

            	 
	 	 	 	 	 	 	 	 	 	 	 
	
              Louis
                D. Paolino, Jr.

            	 	 	
              President,
                Chief

            	 	
              $

            	
              400,000

            	 	
              $

            	
              -

            	 
	
            	 	 	
              Executive
                Officer and

            	 	 	 	 	 	 	 
	
            	 	 	
              Chairman
                of the Board

            	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	
              Robert
                M. Kramer

            	 	 	
              Chief
                Operating Officer

            	 	
              $

            	
              210,000

            	 	
              $

            	
              -

            	 
	
            	 	 	
              of
                the Car and Truck Wash

            	 	 	 	 	 	 	 
	
            	 	 	
              Segment,
                Executive Vice 

            	 	 	 	 	 	 	 
	
            	 	 	
              President,
                General Counsel

            	 	 	 	 	 	 	 
	
            	 	 	
              and
                Secretary

            	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	
              Gregory
                M. Krzemien

            	 	 	
              Chief
                Financial Officer

            	 	
              $

            	
              200,000

            	 	
              $

            	
              -

            	 
	
            	 	 	
              and
                Treasurer

            	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	
              Ronald
                R. Pirollo

            	 	 	
              Chief
                Accounting Officer

            	 	
              $

            	
              160,000

            	 	
              $

            	
              -

            	 
	
            	 	 	
              and
                Corporate Controller

            	 	 	 	 	 	 	 

    

    

    The
      cash
      compensation for 2006 for Independent Directors is (a) an annual fee of $10,000,
      prorated for partial years of service, (b) a $1,000 fee per day for in-person
      attendance for Board or Committee meetings. Additionally, from time to time,
      the
      Board has awarded all directors stock options for service on the
      Board.Exhibit
                10.179

              Note
                Modification Agreement

            

    

    

    This
      agreement is dated as of December 1, 2005 (the "Agreement Date"), by and between
      Mace Security Products, Inc. (the "Borrower") and JPMorgan Chase Bank, N.A.
      as
      successor by merger to Bank One, NA with its main office in Chicago, IL (the
      "Bank"). The
      provisions of this agreement are effective on the date that this agreement
      has
      been executed by all of the signers and delivered to the Bank (the "Effective
      Date").

    

    WHEREAS,
      the
      Borrower executed a Line of Credit Note as evidence of indebtedness in the
      original face amount of Five Hundred Thousand and 00/100 Dollars ($500,000.00),
      dated December 15, 2002 owing by the Borrower to the Bank, as same may have
      been
      amended or modified from time to time (the "Note"), which Note has at all times
      been, and is now, continuously and without interruption outstanding in favor
      of
      the Bank; and, 

    

    WHEREAS,
      the
      Borrower has requested and the Bank has agreed that the Note be modified to
      the
      limited extent as hereinafter set forth; 

    

    NOW
      THEREFORE,
      in
      mutual consideration of the agreements contained herein and for other good
      and
      valuable consideration, the parties agree as follows:

    

    1.  ACCURACY
      OF RECITALS.
      The
      Borrower acknowledges the accuracy of the Recitals stated above.

    

    2.  MODIFICATION
      OF NOTE.

    

    2.1  From
      and
      after the Effective Date, the provision in the Note captioned “Promise to Pay”
is amended as follows: The date on which the entire balance of unpaid principal
      plus accrued interest shall be due and payable immediately is hereby changed
      from December 15, 2005 to December 15, 2006.

    

    2.2  Each
      of
      the Related Documents is modified to provide that it shall be a default or
      an
      event of default thereunder if the Borrower shall fail to comply with any of
      the
      covenants of the Borrower herein or if any representation or warranty by the
      Borrower herein or by any guarantor in any Related Documents is materially
      incomplete, incorrect, or misleading as of the date hereof. As used in this
      agreement, the "Related Documents" shall include the Note and all loan
      agreements, credit agreements, reimbursement agreements, security agreements,
      mortgages, deeds of trust, pledge agreements, assignments, guaranties, or any
      other instrument or document executed in connection with the Note or in
      connection with any other obligations of the Borrower to the Bank.

    

    2.3  Each
      reference in the Related Documents to any of the Related Documents shall be
      a
      reference to such document as modified herein.

    

    3.  RATIFICATION
      OF RELATED DOCUMENTS AND COLLATERAL.
      The
      Related Documents are ratified and reaffirmed by the Borrower and shall remain
      in full force and effect as they may be modified herein. All real or personal
      property described as security in the Related Documents shall remain as security
      for the Note and the obligations of the Borrower in the Related
      Documents.

    

    4.  BORROWER
      REPRESENTATIONS AND WARRANTIES.
      The
      Borrower represents and warrants to the Bank that each of the following
      representations and warranties made in the Note and Related Documents are true
      and will remain true until maturity of the Note, termination of the other
      Related Documents and payment and performance in full of all liabilities,
      obligations and debt evidenced by the Note and other Related
      Documents:

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.1  No
      default or event of default under any of the Related Documents as modified
      hereby, nor any event, that, with the giving of notice or the passage of time
      or
      both, would be a default or an event of default under the Related Documents
      as
      modified herein has occurred and is continuing.

    

    4.2  There
      has
      been no material adverse change in the business, assets, affairs, prospects
      or
      financial condition of the Borrower or any Guarantor or any subsidiary of the
      Borrower.

    

    4.3  Each
      and
      all representations and warranties of the Borrower in the Related Documents
      are
      accurate on the date hereof.

    

    4.4  The
      Borrower has no claims, counterclaims, defenses, or setoffs with respect to
      the
      loan evidenced by the Note or with respect to the Related Documents as modified
      herein.

    

    4.5  The
      Note
      and the Related Documents as modified herein are the legal, valid, and binding
      obligations of the Borrower, enforceable against the Borrower in accordance
      with
      their terms.

    

    4.6  The
      Borrower, other than any Borrower who is a natural person, is validly existing
      under the laws of the State of its formation or organization. The Borrower
      has
      the requisite power and authority to execute and deliver this agreement and
      to
      perform the obligations described in the Related Documents as modified herein.
      The execution and delivery of this agreement and the performance of the
      obligations described in the Related Documents as modified herein have been
      duly
      authorized by all requisite action by or on behalf of the Borrower. This
      agreement has been duly executed and delivered by or on behalf of the
      Borrower.

    

    5.  BORROWER
      COVENANTS.
      The
      Borrower covenants with the Bank:

    

    5.1  The
      Borrower shall execute, deliver, and provide to the Bank such additional
      agreements, documents, and instruments as reasonably required by the Bank to
      effectuate the intent of this agreement.

    

    5.2  The
      Borrower fully, finally, and forever releases and discharges the Bank and its
      successors, assigns, directors, officers, employees, agents, and representatives
      from any and all causes of action, claims, debts, demands, and liabilities,
      of
      whatever kind or nature, in law or equity, of the Borrower, whether now known
      or
      unknown to the Borrower, (i) in respect of the loan evidenced by the Note and
      the Related Documents, or of the actions or omissions of the Bank in any manner
      related to the loan evidenced by the Note or the Related Documents and (ii)
      arising from events occurring prior to the date of this agreement.

    

    5.3  The
      Borrower shall pay to the Bank:

    

    5.3.1  All
      the
      internal and external costs and expenses incurred (or charged by internal
      allocation) by the Bank in connection with this agreement (including, without
      limitation, inside and outside attorneys, appraisal, appraisal review,
      processing, title, filing, and recording costs, expenses, and
      fees).

    

    6.  EXECUTION
      AND DELIVERY OF AGREEMENT BY THE BANK.
      The Bank
      shall not be bound by this agreement until (i) the Bank has executed this
      agreement and (ii) the Borrower performed all of the obligations of the Borrower
      under this agreement to be performed contemporaneously with the execution and
      delivery of this agreement.

    

    7.  INTEGRATION,
      ENTIRE AGREEMENT, CHANGE, DISCHARGE, TERMINATION, OR
      WAIVER.
      The Note
      and the Related Documents as modified herein contain the complete understanding
      and agreement of the Borrower and the Bank in respect of the loan and supersede
      all prior representations, warranties, agreements, arrangements, understandings,
      and negotiations. No provision of the Note or the Related Documents as modified
      herein may be changed, discharged, supplemented, terminated, or waived except
      in
      a writing signed by the party against whom it is being enforced.

    

    
      
        2

      

      
         

        
          

        

      

      
         

      

    

    8.  GOVERNING
      LAW AND VENUE.
      This
      agreement shall be governed by and construed in accordance with the laws of
      the
      State of Texas (without giving effect to its laws of conflicts). The Borrower
      agrees that any legal action or proceeding with respect to any of its
      obligations under the Note or this agreement may be brought by the Bank in
      any
      state or federal court located in the State of Texas, as the Bank in its sole
      discretion may elect. By the execution and delivery of this agreement, the
      Borrower submits to and accepts, for itself and in respect of its property,
      generally and unconditionally, the non-exclusive jurisdiction of those courts.
      The Borrower waives any claim that the State of Texas is not a convenient forum
      or the proper venue for any such suit, action or proceeding. This agreement
      binds the Borrower and its successors, and benefits the Bank, its successors
      and
      assigns. The Borrower shall not, however, have the right to assign the
      Borrower's rights under this agreement or any interest therein, without the
      prior written consent of the Bank. 

    

    9.  COUNTERPART
      EXECUTION.
      This
      agreement may be executed in multiple counterparts, each of which, when so
      executed, shall be deemed an original, but all such counterparts, taken
      together, shall constitute one and the same agreement.

    

    10.  NOT
      A NOVATION.
      This
      agreement is a modification only and not a novation. In addition to all amounts
      hereafter due under the Note and the Related Documents as they may be modified
      herein, all accrued interest evidenced by the Note being modified by this
      agreement and all accrued amounts due and payable under the Related Documents
      shall continue to be due and payable until paid. Except for the above-quoted
      modification(s), the Note, any Related Documents, and all the terms and
      conditions thereof, shall be and remain in full force and effect with the
      changes herein deemed to be incorporated therein. This agreement is to be
      considered attached to the Note and made a part thereof. This agreement shall
      not release or affect the liability of any guarantor, surety or endorser of
      the
      Note or release any owner of collateral securing the Note. The validity,
      priority and enforceability of the Note shall not be impaired hereby. References
      to the Related Documents and to other agreements shall not affect or impair
      the
      absolute and unconditional obligation of the Borrower to pay the principal
      and
      interest on the Note when due. The Bank reserves all rights against all parties
      to the Note.

    

    THIS
      AGREEMENT AND THE OTHER RELATED DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN
      THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS,
      OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

    THERE
      ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

    

    

    

    
      	 	 	 	
              Borrower:

            
	 	 	 	 
	
              Address:

            	
              1000
                Crawford Place

              Mount
                Laurel, NJ 08054

            	
            	
              Mace
                Security Products, Inc.

            
	 	 	 	
              By:

            	
              /s/
                Gregory M. Krzemien

            
	 	 	 	 	
              Gregory
                M. Krzemien

            	
              Treasurer

            
	 	 	 	 	
              Printed
                Name

            	
              Title

            
	 	
              Date
                Signed:

            	
              12/06/05

            

    

    

    

    
      
        3

      

      
         

        
          

        

      

      
         

      

    

    

    

    BANK’S
      ACCEPTANCE

    

    The
      foregoing agreement is hereby agreed to and acknowledged.

    

    

    
      	 	 	 	
              Bank:

            
	 	 	 	 
	 	 	 	
              JPMorgan
                Chase Bank, N.A.

            
	 	 	 	 
	 	 	 	
              By:

            	
              /s/
                Mark W. Warren

            
	 	 	 	 	
              Mark
                W. Warren

            	
              Senior
                Vice President

            
	 	 	 	 	
              Printed
                Name

            	
              Title

            
	 	 	 	
              Date
                Signed:

            	
              12/20/05

            

    

    

     

    
      
        4

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