SECURITY AGREEMENTSecurity Agreement • September 29th, 2011 • Integrated Environmental Technologies, Ltd. • General industrial machinery & equipment, nec • Texas
This Security Agreement, dated as of September 23, 2011 (as amended, supplemented, amended and restated or otherwise modified from time to time, this “Security Agreement”), is made by Integrated Environmental Technologies, Ltd., a Nevada corporation (the “Seller”), I.E.T. Inc., a Nevada corporation (“IET Inc.”) and each other Person (terms used in the preamble and the recitals have the definitions set forth in or incorporated by reference in Article I) who from time to time becomes a party to this Security Agreement as a “Grantor” (the Seller, IET Inc. and each such other Person, each individually, a “Grantor” and collectively, the “Grantors”), in favor of E. Wayne Kinsey, III (“Kinsey”), as the Agent (together with its successor(s) thereto in such capacity, the “Agent”) for each of the Secured Parties. “Secured Parties” means the Purchasers (as defined below), and each of their respective successors, transferees and assigns.
NOTE PURCHASE AGREEMENTNote Purchase Agreement • September 29th, 2011 • Integrated Environmental Technologies, Ltd. • General industrial machinery & equipment, nec • Texas
This Note Purchase Agreement (this “Agreement”), is made and entered into as of September 23, 2011, by and between Integrated Environmental Technologies, Ltd., a Nevada corporation (the “Seller”), E. Wayne Kinsey, III (“Kinsey”), Zanett Opportunity Fund, Ltd. (“Zanett”) and the purchasers that are now and hereafter at any time parties hereto (each a “Purchaser” and collectively, the “Purchasers”), and Kinsey as administrative agent for Purchasers (in such capacity, “Agent”), and sets forth the terms and conditions of the sale and purchase of a $400,000 8% Convertible Secured Promissory Note to Kinsey (the “Kinsey Note”) and a $100,000 8% Convertible Secured Promissory Note to Zanett (the “Zanett Note”), each substantially in the form attached hereto as Exhibit A (the Kinsey Note and the Zanett Note are collectively referred to herein as the “Notes”).
