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EXHIBIT 10.02
THIS NOTE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ SECURITIES ACT ”), OR ANY STATE
SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED, OR OTHERWISE
TRANSFERRED OR DISPOSED OF UNLESS AND UNTIL THIS NOTE IS REGISTERED
UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN
EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.
GABRIEL TECHNOLOGIES
CORPORATION
PROMISSORY NOTE
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$_____________
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_______________,
2009
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FOR VALUE RECEIVED, the undersigned, Gabriel
Technologies Corporation, a Delaware corporation (“
Company ”), promises to pay to the order of
____________________ (“ Lender ”) the principal
sum of _______________________________ Dollars ($_________.00) (the
“ Principal ”), without interest, which amount
shall be due and payable in lawful money of the United States of
America at such place as Lender may from time to time designate, at
the time and in accordance with the terms and conditions provided
in Section 1 below. This Note is one of the Notes issued by the
Company pursuant to the Promissory Note Purchase Agreement
effective _______________, 2009 among the Company and the investors
that are parties thereto (the “ Purchase Agreement
”).
1. Payments . The Company
shall pay Lender (i) _______________________________ Dollars
($_________.00) (which is the Principal plus an amount equal to
100% of the Principal), and (ii) ___% of the proceeds of an IP
Event (as defined below)(which is .000005% of the IP Event proceeds
for each Dollar of Principal represented hereby), on the 10th
business day after t
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