WARRANT To Purchase 5,000,000 Shares of Common Stock of i2 TELECOM INTERNATIONAL, INC.Warrant Agreement • March 28th, 2008 • I2 Telecom International Inc • Radiotelephone communications • Delaware
THIS WARRANT (the “Warrant”) certifies that, for value received, Paul R. Arena (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after March 25, 2008 (the “Initial Exercise Date”) and on or prior to the fifth-year anniversary of the Initial Exercise Date (the “Termination Date”), but not thereafter, to subscribe for and purchase from i2 Telecom International, Inc., a Washington corporation (the “Company”), up to 5,000,000 shares (the “Warrant Shares”) of common stock, no par value per share, of the Company (the “Common Stock”). The purchase price of each share of Common Stock (the “Exercise Price”) under this Warrant shall be $0.10, subject to adjustment hereunder.
TERM LOAN AGREEMENTTerm Loan Agreement • March 28th, 2008 • I2 Telecom International Inc • Radiotelephone communications
This Term Loan Agreement (the “Agreement”) is made and entered into as of March 25, 2008, by and between i2 TELECOM INTERNATIONAL, INC., a Washington corporation (the “Company”) and Braswell Enterprises, L.P. located at 13600 Diamond Point Road, Yucaipa, CA 92399, (the “Lender”) and Paul R. Arena located at 7510 Colony Drive, Cumming, GA 30041, (the “Guarantor”) with reference to the following facts:
GUARANTYGuaranty • March 28th, 2008 • I2 Telecom International Inc • Radiotelephone communications
In order to induce BRASWELL ENTERPRISES, L.P., a limited partnership located in the State of California (“Lender”), to loan the principal amount of One-Million and No/100 Dollars ($1,000,000.00) to i2 TELECOM INTERNATIONAL, INC., a Washington corporation (“Borrower”), evidenced by that certain Promissory Note executed by Borrower contemporaneously herewith (the “Note”), PAUL R. ARENA (the “undersigned”) hereby irrevocably, unconditionally, and absolutely guarantees fifty percent (50%) or Five-Hundred Thousand and No/100 Dollars ($500,000.00) of the due performance and punctual payment in full of all obligations and all costs, including attorneys’ fees, arising out of Borrower’s obligations under the Note (all such obligations, costs, expenses and liabilities being hereinafter referred to as the “Obligations”), pursuant to the terms and conditions set forth herein.
