Common use of Restated Note Clause in Contracts

Restated Note. This Revolving Note amends and restates an existing Revolving Note dated August 18, 2009, in the original principal amount of $4,000,000.00 issued by the Borrowers to the order of Bank (the “Prior Note”). It is expressly intended, understood and agreed that this Revolving Note shall replace the Prior Note as evidence of the indebtedness of Borrowers to Bank under the Revolving Loan, and such indebtedness shall be considered outstanding hereunder from and after the date hereof and shall not be considered paid (nor shall the Borrowers’ obligation to pay the same be considered discharged or satisfied) as a result of the issuance of this Revolving Note. /3 M-tron Industries, Inc., a Delaware corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ Piezo Technology, Inc., a Florida corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 2010, before me, the undersigned, a Notary Public, personally appeared ______________________, on behalf of said entity as __________________ of M-tron Industries, Inc., a Delaware corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 2010, before me, the undersigned, a Notary Public, personally appeared ______________________, on behalf of said entity as __________________ of Piezo Technology, Inc., a Florida corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public

Restated Note. This Revolving Note amends and restates an existing Revolving Note dated August 18, 2009, in is a restated version of the original principal amount of $4,000,000.00 revolving note issued by the Borrowers in favor of Bank pursuant to the order of Bank (the “Prior Note”). It is expressly intended, understood and agreed that this Revolving Note shall replace the Prior Note as evidence of the indebtedness of Borrowers to Bank under the Revolving LoanLoan Agreement, and such indebtedness shall be considered outstanding hereunder from and after the date hereof is given in exchange thereof and shall not be considered paid (nor shall the Borrowers’ obligation to pay the same be considered discharged or satisfied) as constitute a result cancellation of the issuance principal amount (or unpaid accrued interest) of this the Revolving NoteLoan evidenced thereby. /3 M-tron IndustriesTRON INDUSTRIES, Inc.INC., a Delaware corporation, Borrower By: ____________:_________________________ Name: ___________Xxxx Xxxxxxxx, President PIEZO TECHNOLOGY, INC., a Florida corporation, Borrower By:________________________ Title: ______________________Xxxx Xxxxxxxx, President STATE OF ______________ Piezo Technology, Inc., a Florida corporation, Borrower By: _________________________) ) ss. COUNTY OF ____________ Name: ___________________________________ Title: ____________________________________ STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 20102009, before me, the undersigned, a Notary Public, personally appeared ______________________Xxxx Xxxxxxxx, on behalf of said entity as __________________ President of M-tron Industries, Inc., a Delaware corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public STATE OF ______________ ) ) ss. COUNTY OF ____________ ) On this day of ____________, 20102009, before me, the undersigned, a Notary Public, personally appeared ______________________Xxxx Xxxxxxxx, on behalf of said entity as __________________ President of Piezo Technology, Inc., a Florida corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public

Restated Note. This Revolving Term Note amends and restates an existing Revolving Note dated August 18, 2009, in is a restated version of the original principal amount of $4,000,000.00 term note issued by the Borrowers in favor of Bank pursuant to the order of Bank (the “Prior Note”). It is expressly intended, understood and agreed that this Revolving Note shall replace the Prior Note as evidence of the indebtedness of Borrowers to Bank under the Revolving LoanLoan Agreement, and such indebtedness shall be considered outstanding hereunder from and after the date hereof is given in exchange thereof and shall not be considered paid (nor shall the Borrowers’ obligation to pay the same be considered discharged or satisfied) as constitute a result cancellation of the issuance principal amount (or unpaid accrued interest) of this Revolving Notethe Term Loan evidenced thereby. /3 M-tron IndustriesTRON INDUSTRIES, Inc.INC., a Delaware corporation, as Borrower By: :______________________________ Xxxx Xxxxxxxx, President PIEZO TECHNOLOGY, INC., a Florida corporation, as Borrower By:_______________________________ Name: _____________________Xxxx Xxxxxxxx, President STATE OF ______________ Title: ________________________) ) ss. COUNTY OF ____________ Piezo Technology, Inc., a Florida corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 20102009, before me, the undersigned, a Notary Public, personally appeared ______________________Xxxx Xxxxxxxx, on behalf of said entity as __________________ President of M-tron Industries, Inc., a Delaware corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public STATE OF ______________ ) ) ss. COUNTY OF ____________ ) On this day of ____________, 20102009, before me, the undersigned, a Notary Public, personally appeared ______________________Xxxx Xxxxxxxx, on behalf of said entity as __________________ President of Piezo Technology, Inc., a Florida corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public

Restated Note. This Revolving Note amends and restates an existing is a restated version of the Revolving Note issued pursuant to that certain Loan Agreement dated August 18as of October 14, 2004, as amended by the First Amendment to Loan Agreement dated May 31, 2005, the Second Amendment to Loan Agreement dated June 30, 2006, the Third Amendment to Loan Agreement dated October 3, 2006, the Fourth Amendment to Loan Agreement dated June 30, 2007, the Fifth Amendment to the Loan Agreement dated June 30, 2008, the Change in Terms Agreement dated as of June 30, 2009, and the Change in the original principal amount Terms Agreement dated as of $4,000,000.00 issued by the Borrowers to the order July 31, 2009. [The Remainder of Bank (the “Prior Note”). It is expressly intended, understood This Page Intentionally Left Blank and agreed that this Revolving Note shall replace the Prior Note as evidence of the indebtedness of Borrowers to Bank under the Revolving Loan, and such indebtedness shall be considered outstanding hereunder from and after the date hereof and shall not be considered paid (nor shall the Borrowers’ obligation to pay the same be considered discharged or satisfied) as a result of the issuance of this Revolving Note. /3 Signature Page Follows] 494835.3 M-tron IndustriesTRON INDUSTRIES, Inc.INC., a Delaware corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ Piezo TechnologyXxxx Xxxxxxxx, Inc.President PIEZO TECHNOLOGY, INC., a Florida corporation, Borrower By: _____________________________________ Name: ___________________________________ Title: ____________________________________ Xxxx Xxxxxxxx, President STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 20102009, before me, the undersigned, a Notary Public, personally appeared ______________________Xxxx Xxxxxxxx, on behalf of said entity as __________________ President of M-tron Industries, Inc., a Delaware corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public STATE OF ) ) ss. COUNTY OF ) On this day of ____________, 20102009, before me, the undersigned, a Notary Public, personally appeared ______________________Xxxx Xxxxxxxx, on behalf of said entity as __________________ President of Piezo Technology, Inc., a Florida corporation, Borrower, who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed, as well as that of the corporation. ______________________________ Notary Public.