First National Bank
PROMISE TO PAY . M-Tron Industries, Inc.; and Piezo Technology, Inc. (“Borrower”) jointly and severally
promise to pay to First National Bank of Omaha (“Lender”), or order, in lawful money of the United States of
America, the principal amount of One Million Four Hundred Nine Thousand Eight Hundred Forty-seven &
80/100 Dollars ($1,409,847.80), together with interest on the unpaid principal balance from January 24, 2008,
until paid in full.
PAYMENT . Subject to any payment changes resulting from changes in the Index, Borrower will pay this loan in
accordance with the following payment schedule:
Monthly Principal and interest payments starting 2/24/08 changing monthly based on floating 30 day Libor
plus 210 bps. Final payment of Principal and interest due on 1/24/13.
Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid
interest; then to principal; and then to any late charges. The annual interest rate for this Note is computed on a
365/360 basis; that is, by applying the ratio of the annual interest rate over a year of 360 days, multiplied by the
outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding.
Borrower will pay Lender at Lender’s address shown above or at such other place as Lender may
designate in writing.
VARIABLE INTEREST RATE . The interest rate on this Note is subject to change from time to time based
on changes in an independent index which is the 30 day Libor Rate per the London Interbank Offered Rate as
quoted in the Wall Street Journal (the “Index”). The Index is not necessarily the lowest rate charged by Lender
on its loans. If the Index becomes unavailable during the term of this loan, Lender may designate a substitute
index after notifying Borrower. Lender will tell Borrower the current Index rate upon Borrower’s request. The
interest rate change will not occur more often than