THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, OR ANY APPLICABLE STATE SECURITIES LAWS. THIS NOTE MAY NOT BE OFFERED, SOLD, OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT PURSUANT TO (A) A REGISTRATION STATEMENT WITH...Tenfold Corp /Ut • March 21st, 2006 • Services-computer programming services • Utah
TENFOLD CORPORATION, a Delaware corporation (the “Company”), for value received, hereby promises to pay to (the “Holder”) the sum of $ ( Dollars) together with interest as calculated below, upon the earliest to occur of (a) (i) March 31, 2006, (ii) the closing of a Subsequent Equity Financing or (iii) a Liquidation Event, or (b) when declared due and payable by Holder subsequent to the occurrence of an Event of Default (each, a “Maturity Event”). A “Subsequent Equity Financing” means an equity financing in which the Company realizes total cumulative proceeds equal to or in excess of $2,000,000 (Two Million Dollars) in one or more equity financing transactions. A “Liquidation Event” means any liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, as well as (x) any merger, consolidation or conversion of the Company into or with another company (except one in which the holders of capital stock of the Company immediately prior to such merger or consolidat
