SEC Contract Filing

Filing Date: 2016-12-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>f8k122216ex10ii_micronet.htm
<DESCRIPTION>FORM OF PROMISSORY NOTE
<TEXT>
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<P STYLE="margin: 0; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
10.2</B></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
NOTE HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THIS NOTE
HAS BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;<U>SECURITIES
ACT</U>&rdquo;), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MICRONET
ENERTEC TECHNOLOGIES, INC</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ENERTEC
ELECTRONICS LTD</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Secured
Promissory Note</FONT></P>

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 <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No.
 MICT-3</FONT></TD>
 <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Original
 Principal Amount:&#9;$1,000,000</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR
VALUE RECEIVED,</B> MICRONET ENERTEC TECHNOLOGIES, INC., a corporation organized and existing under the laws of the State of Nevada
(the &ldquo;<U>Company</U>&rdquo; or a &ldquo;<U>Borrower</U>&rdquo;), and ENERTEC ELECTRONICS LTD, a corporation organized and
existing under the laws of the State of Israel (&ldquo;<U>Enertec</U>&rdquo; or a &ldquo;<U>Borrower</U>&rdquo; and collectively
with the Company, the &ldquo;<U>Borrowers</U>&rdquo;), hereby promise to pay to the order of YA II PN, Ltd. or its registered
assigns (the &ldquo;<U>Holder</U>&rdquo;) (i) the outstanding portion of the amount set out above as the Original Principal Amount
(as reduced pursuant to the terms hereof pursuant to scheduled payment, redemption, conversion, or otherwise, the &ldquo;<U>Principal</U>&rdquo;)
when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance
with the terms hereof) and (ii) to pay interest (&ldquo;<U>Interest</U>&rdquo;) on any outstanding Principal at the applicable
Interest Rate (as defined below) from the date defined in Section 17 hereof as the Issuance Date (the &ldquo;<U>Issuance Date</U>&rdquo;)
until the same is paid, whether upon the Maturity Date or acceleration, redemption or otherwise (in each case in accordance with
the terms hereof) pursuant to the terms of this Promissory Note (the &ldquo;<U>Note</U>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Note is being issued pursuant to that certain Note Purchase Agreement dated as of October 28, 2016, as amended and supplemented
from time to time (the &ldquo;<U>Note Purchase Agreement</U>&ldquo;) among the Holder and the Borrowers. Certain capitalized terms
used herein but otherwise not defined herein are defined in Section 17 or in the Note Purchase Agreement.</FONT></P>

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