Document:

Exhibit 10.1 - Promissory Note (PDC)

East Tennessee Materials & Energy Corporation

Promissory Note

$3,673,732.56 Oak Ridge, Tennessee                                    
         Oak
Ridge, Tennessee

                                          
                                          
                                          
   June
7, 2001

For value received, East Tennessee Energy & Materials Corporation (M & EC) promises to pay Performance Development Corporation (PDC), the sum of Three Million Six Hundred Seventy Three Thousand Seven Hundred Thirty Two Dollars
and Fifty Six Cents ($3,673,732.56), together with variable interest on the unpaid balance beginning May 31, 2001, at the same rate and method as provided by the Internal Revenue Code of 1986, as amended, and as applied by the Internal Revenue Service
(IRS) to the outstanding tax and interest obligations of PDC and PDC's affiliates (the "Tax Obligations") under certain IRS Forms 433-D, Installment Agreements, dated the same date as this Note (the "Installment Agreements"), such interest to vary
effective January 1 and July 1 for the term of this Note.  M & EC shall make payments in the amounts and on the dates shown on the attached Schedule of Tax Obligations, Exhibit A, which is incorporated herein by reference. In any event, M & EC shall pay the unpaid principal amount, plus all unpaid and accrued interest, in full on June 30, 2009.

The purpose of this note is to facilitate the payment by PDC and its affiliates of the Tax Obligations. Accordingly, no payments hereunder shall be made by M & EC to PDC or any of PDC's affiliates, unless otherwise agreed in writing by M & EC and
PDC.  Rather, pursuant to written instructions from PDC, M & EC shall make all payments on this Note, as shown on Exhibit A, directly to the IRS, accompanied by payment voucher Form 433-D-V, against accounts referred to in the Installment Agreements, as follows, for: PDC, EIN
62-1325066; and PDC's affiliates: PDC Services, Inc., EIN 62-1587953; and Management Technologies, Inc., EIN: 62-1540030, as indicated on Exhibit A.

The obligation of M & EC hereunder shall be automatically reduced by the application of any state or Federal tax refund of PDC or any of its affiliates that is applied by the IRS to the payment of the Tax Obligations, as permitted
in the Installment Agreements.  Further, the obligation of M & EC hereunder shall be automatically reduced in the event that the Tax Obligations are paid by or on behalf of PDC or any of its affiliates, whether voluntarily or through governmental
collection actions. The obligation of M & EC hereunder shall be automatically terminated and discharged (as if this Note had been paid in full) in the event that the IRS terminates any of the Installment Agreements or files a Notice of Federal Tax
Lien against any of PDC or its affiliates. 

PDC and its affiliates shall make a written report to M & EC quarterly, during the term of this Note, regarding their actions taken to comply with the terms and conditions of the Installment Agreements, including, but not limited
to, the requirement to file Forms 940, 941 and 1120 with Ms. Camella Lucas of the IRS. Further, PDC and its affiliates shall immediately notify M & EC in writing in the event that (i) the IRS terminates any of the Installment Agreements, (ii) the IRS
files a Notice of Federal Tax Lien against any of PDC or its affiliates, (iii) any payment of the Tax Obligations is made by or on behalf of any of them, or (iv) if any state or Federal tax refund is applied in satisfaction of the Tax Obligations. During
the term of this Note, M & EC shall have the right, during normal business hours and upon prior notice, to review the books and records of PDC and its affiliates, through its authorized representatives, agents or professionals, in order to monitor the
compliance of PDC and its affiliates with the terms and conditions of the Installment Agreements.

Payments shall be made by the dates shown on Exhibit A.  No grace period is allowed.  M & EC may prepay the Note without any penalty at any time.  Each payment shall apply to the payment of principal or the payment of
accrued interest in the same manner as such payment is applied by the IRS to the Tax Obligations under the Installment Agreements.  

In the event of default, the unpaid principal balance and all accrued interest owed under this Note shall immediately become due and payable without presentment, demand, protest, or notice of any kind, all of which M & EC waives,
and PDC or any subsequent holder shall have the rights and privileges provided hereunder.  In the event of any default, if PDC or any subsequent holder exercises the option to require the indebtedness hereunder to be immediately paid, then in such event
and from the date of the occurrence of such default, the balance of the indebtedness hereunder, notwithstanding any other provisions herein to the contrary, shall bear interest at the rate of fifteen percent (15%) per annum.

If M & EC does not pay this Note when due, M & EC shall pay all costs of collection and reasonable attorney's fees incurred by PDC or any subsequent holder of this Note on account of such collection, whether or not PDC or any
subsequent holder files suit on this Note.

The failure of PDC or any subsequent holder hereof to exercise any option to accelerate the indebtedness evidenced hereby in the event of the occurrence of a default as above provided or any forbearance, indulgence, or other delay by
PDC or any subsequent holder in the exercise of any such option, shall not constitute a waiver of the right to exercise such option prior to the curing of any such default or in the event of any subsequent default, whether similar or dissimilar to any
prior default.

Presentment for payment, demand, protest, notice of protest, notice of nonpayment, notice of dishonor and any and all other notices and demands whatsoever are hereby waived by all makers, sureties, guarantors and endorsers hereof, each
of whom agree to remain bound until the principal and interest on this Note are paid in full.  

This Note shall be governed by and construed in accordance with the laws of the state of Tennessee.

                                          
                    East
Tennessee Energy & Materials Corporation

                                          
                    By:    /s/
Joe W.
Anderson                             

                                         
                     Its:  Chairman
and Chief Executive Officer

                                          
                                          
        "M
& EC"Exhibit 10.2 - Installment Agreement

Form 433-D               Department
of Treasury - Internal Revenue
Service           check
box if                  [  ]

(Rev. May 1996)                     Installment
Agreement                                     installment
agreement

                                          
                                          
                                       fee
was paid

Name and address of taxpayer(s):         EAST TENNESSEE MATERIALS & ENERGY

                                         
                   M&EC

                                         
                   109 JEFFERSON AVENUE

                                         
                   OAK RIDGE, TN 73830

Social security or employer                   

identification number :
                          (primary):  62-1721777
 (secondary):                             

                           Telephone number:
                              (home):____________
  (business): (865) 482-9004

Kinds of taxes (form numbers):
             941,940

      Tax periods:                                      
  				9812, 9903, 9906, 9909, 9912, 2003, 2006, 2009, 2012

Amount owed as of 05/31/2001:
         $923,495.85

Earliest CSED:
                                    11/22/2009

Employer (name and address):              ____________________________________________

                                          
                  ____________________________________________

Financial institutions

(names and addresses):                        SUNTRUST BANK

                                         
                  41 RACHEL DRIVE

                                         
                  NASHVILLE, TN 37214

For assistance:

Call 1-800-829-1040 or write:            MEMPHIS Service Center

                                         
                  MEMPHIS, TN 73501

I/We agree that the federal taxes shown above, PLUS ALL INTEREST PROVIDED BY LAW,will be paid as follows:

SEE SCHEDULE OF TAX PAYMENTS AND ADDENDUM ATTACHED

$         **        
will be paid on _________________ And $______Will be paid

no later than the                                           of each month thereafter until the total liability is paid in full.  I/we also agree that the

above installment payment will be increased or decreased as follows:				check box if pre-assessed

												modules included                                     
                                          
                                       [   
  ]

Date of increase (or decrease):           /   /              /   /   

Amount of increase (or decrease):  
$_____       $_____

New installment amount
                 $_____       $_____

AGREEMENT LOCATOR NUMBER:	 0   2   0   9

 (circle)

0	No future action is required

5 	Financial review date:	        /    

    6	Monitor ES compliance:

                 Indicator:
        1st
Qtr____    2nd Qtr_____    3rd Qtr____

                 ES payment:
    $________    $__________    $_________	

Conditions of this agreement:

* We must receive each payment by the date shown above; if you have a problem, contact us immediately.

* This agreement is based on your current financial condition.  We may change or cancel it if our information shows that your
    ability to pay has changed significantly.

* We may cancel this agreement if you don't give us updated financial information when we ask for it.

* While this agreement is in effect, you must file all federal tax returns and pay any taxes you owe on time.

* We will apply your federal or state tax refunds (if any) to the amount you owe until it is fully paid.  (This includes the Alaska
Permanent Fund dividend for Alaska residents.)

* You must pay a $43 installment agreement fee, which we have authority to deduct from the first payment.

* If agreement defaults, you must pay a $24 reinstatement fee if agreement is reinstated, which we have authority to deduct from
the first payment.

* If you don't meet the conditions of this agreement, we will cancel it, and may collect the entire amount you owe by levy on your
income, bank accounts or other assets, or by seizing your property.

* We will cancel this agreement at any time if we find that collection of the tax is in jeopardy.

* We will apply all payments on this agreement in the best interest of the United States.

* This agreement may require managerial approval.  If it is not approved, you will be notified.

* A NOTICE OF FEDERAL TAX LIEN (check one)

 HAS ALREADY BEEN FILED

 WILL BE FILED IMMEDIATELY

 WILL BE FILED WHEN TAX IS ASSESSED

 X  MAY BE FILED IF THIS AGREEMENT DEFAULTS

Additional Conditions: (To be completed by IRS)

PROVIDE PROOF OF FEDERAL TAX DEPOSITS ON A MONTHLY BASIS; FILE 941,940 AND 1120 RETURNS WITH LUCA

Your Signature:
                                  Date:

 // Joe W. Anderson                                 June 7, 2001   
                       

Title:

Chairman/CEO                                      

Spouse's Signature (if a joint liability)	Date:

__________________________     __________________________

Agreement examined or approved by 	Date:

(signature, title, function)

 // Barbara Humphries, acting                 		    June 11, 2001

    group manager                          

Originator's name, title and IDRS assignment number (or district):	CAMELLA LUCAS, RO        6221012419

 Originator Code:	 2      0

  YOU MAY HAVE YOUR INSTALLMENT AGREEMENT PAYMENT DEDUCTED FROM YOUR CHECKING ACCOUNT
EACH MONTH (DIRECT DEBIT); IF YOU CHOOSE THIS OPTION, FOLLOW THE DIRECTIONS ON THE BACK OF YOUR
COPY OF THIS FORM.

If you agree to Direct Debit, initial here:	                          

                          and attach a blank voided check.

* I (we) authorize the IRS and the depository (bank) identified on the attached voided check to deduct payments (debit) from my
(our) checking account or correct errors on the account.  This authorization remains in effect until I (or either of us) notify IRS in
writing to stop or until the liability covered by this agreement is satisfied.

* I (we) understand that if the depository is unable to honor IRS's request for payment due to insufficient funds in my (our)
account on the payment due date I (we) will be charged a penalty of $15 or two percent of the payment request, whichever is the
greater.  If the payment request is for less than $15, the penalty is the amount of the request.

CAT.NO.
16644M                                 Part
1 - IRS
Copy                            Form
433-D (Rev. 5-96) 

 

 

Schedule of Tax Payments

													                                      
                                          
                                          
         Total M&EC

                                         
                                          
                                          
            Liability

      Description												                             
                                          
                                   As of 5/31/01

	Tax payment due	$        923,495.85
	Payment at closing	10,010.68
	Payment at 12/31/01	5,005.34
	Payment at 6/30/02	5,005.34
	Payment at 12/31/02	30,032.04
	Payment at 6/30/03	30,032.04
	Payment at 12/31/03	40,042.72
	Payment at 6/30/04	40,042.72
	Payment at 12/31/04	100,106.81
	Payment at 6/30/05	100,106.81
	Payment at 12/31/05	100,106.81
	Payment at 6/30/06	100,106.81
	Payment at 12/31/06	100,106.81
	Payment at 6/30/07	100,106.81
	Payment at 12/31/07	100,106.81
	Payment at 6/30/08	100,106.81
	Payment at 12/31/08	52,566.58

                        Total payments
                                          
                                          
   $         923,495.85 *

*Plus accrued statutory interest after 5/31/01 on the outstanding balance due which shall

  be due and payable in one lump sum on 12/31/08. 

 

ADDENDUM TO INSTALLMENT AGREEMENT

OF EAST TENNESSEE MATERIALS & ENERGY CORPORATION

EIN: 62-172177

     The following are additional terms and conditions of the Installment Agreement of East Tennessee Materials & Energy ("M
& EC") and are entered into by and between M & EC and the Internal Revenue Service ("Service") through their
respective
undersigned, authorized representatives.

     Notwithstanding anything to the contrary in the Installment Agreement to which this Addendum is attached, M & EC and the
Service agree as follows:
     1.  The Installment Agreement and this Addendum are subject to the closing of that certain Stock Purchase Agreement
among Perma-Fix Environmental Services, Inc. ("Perma-Fix"), M & EC and certain stockholders of M & EC (the "Stock Purchase
Agreement") under which, if closed, Perma-Fix will acquire all of the issued and outstanding common stock of M & EC (the "Closing").
Perma-Fix is not acquiring any interest in Performance Development Corporation ("PDC"), PDC Services Corporation ("PDC Services")
or Management Technologies, Inc. ("MTI").

     2.  The parties acknowledge that Perma-Fix currently does not have, and after the Closing, will not have any liability for
any taxes, interest or penalty with respect to M & EC, PDC, PDC Services  or
MTI.

     3.  M & EC will be solely responsible for paying the withholding taxes  and interest of M & EC set forth in the Installment
Agreement ("M & EC Tax Obligation"), pursuant to the Schedule of Tax Payments attached thereto. The Schedule of Tax Payments
includes statutory interest on the unpaid balance of the M & EC Tax Obligation.

     4.  The Service has abated all penalties associated with the M & EC Tax Obligation.

     5.  The Service agrees not to assert any liability against M & EC, Perma-Fix or any current or future, related affiliate of
Perma-Fix (which affiliate will not include PDC, PDC Services or MTI) for any tax, interest or penalty of PDC, PDC Services or
MTI.

     6.  Provided that the payments of the M & EC Tax Obligation are timely made by M & EC pursuant to the Schedule of
Tax Payments, the Service agrees that it will not file a notice of federal tax lien, change or cancel the Installment Agreement or take
any other type of collection action against M & EC with respect to the

 

 

 M & EC Tax Obligation, irrespective of whether the Service
believes the financial condition of M & EC or its ability to pay the M & EC Tax Obligation has changed significantly.

     7.  The Service will enter into an agreement with PDC, PDC Services and MTI with respect to the withholding tax
obligations of such entities on terms similar to those in this Addendum.  The parties acknowledge that such agreements are a condition
to closing of the Stock Purchase Agreement.

     8.  The agreements referenced in this Addendum constitute a final  and conclusive resolution under the Internal Revenue
Code of 1986, as amended, with respect to the specific matters discussed herein.

     By signing this Addendum, the parties certify that they have read and agreed to the terms of this Addendum and intend it to
be binding between them.

EAST TENNESSEE MATERIALS & ENERGY CORPORATION

By:     /s/ Joe W.
Anderson                                         
                      

Title:     Chairman/CEO                   
  Date Signed:    6/7/01             

COMMISSIONER OF INTERNAL REVENUEBy:    /s/
Barbara
Humphries                                         
                   

Title:    Acting Group
Manager        Date Signed:   6/11/01

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