TIME AMERICA, INC. NOTE PURCHASE AGREEMENTNote Purchase Agreement • September 28th, 2004 • Time America Inc • Services-prepackaged software • Arizona
EXHIBIT B SECURITY AGREEMENTSecurity Agreement • September 28th, 2004 • Time America Inc • Services-prepackaged software
THIS SECURITY AGREEMENT is made and executed as of the 16th day of April 2004, by and between TIME AMERICA, INC., a Nevada corporation (hereinafter called “Debtor”) and Frances L. Simek (hereinafter called “Secured Party”). Capitalized terms used but not otherwise defined herein shall have the meaning assigned to such terms in that certain Note Purchase Agreement dated as of April 16, 2004 (the “Note Purchase Agreement”).
PROMISSORY NOTETime America Inc • September 28th, 2004 • Services-prepackaged software • Nevada
FOR VALUE RECEIVED, Time America Inc., a Nevada corporation (the “COMPANY”), hereby promises to pay to the order of Frances L. Simek (“HOLDER”), or Holder’s registered assigns, the principal sum of Five Hundred Thousand Dollars ($500,000.00) or, if less, the aggregate unpaid principal amount this Note on the Maturity Date (as defined herein); together with interest on any and all principal amounts remaining unpaid hereunder from time to time outstanding from the date hereof until payment in full.
