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Exhibit 10.12

Restricted Share Agreement Between View Systems, Inc. and David Bruggeman

RESTRICTED SHARE AGREEMENT
UNDER THE
VIEW SYSTEMS, INC.
1999 RESTRICTED SHARE PLAN

    THIS AGREEMENT IS made as of March 1, 1999, by and between View Systems, Inc., whose principal place of business is 925 West Kenyon Avenue, Suite 15, Englewood, Colorado 80110 (the "Company") and David Bruggeman, 6529 Quiet hours #103, Columbia, Md. 21045 (the "Grantee").

    WHEREAS, the Executive Compensation Committee (the "Committee") and the Board of Directors of the Company consider it desirable and in the Company's interest that the Grantee be granted its shares of common stock, par value $.001 per share, subject to certain restrictions and risk of forfeiture ("Restricted Shares"), in accordance with the terms and conditions of the Company's Restricted Share Plan (the "Plan").

    NOW THEREFORE, it is agreed as follows:

    1. Grant of Restricted Shares. The Company hereby grants to Grantee 48,000 Restricted Shares. Subject to the restrictions set forth in Section 2, the Grantee shall have all of the rights of a shareholder, including, without limitation, the right to vote the Restricted Shares and to receive dividends thereon.

    2. Restrictions. The following restrictions shall apply to each of the Restricted Shares until termination of the Restricted Period (as defined in Section 3) applicable to such Restricted Shares:

    3. Restricted Period.

Number of
Restricted Shares

  Restricted Period
From Date of Grant to:

     
4,000 shares   April 1, 1999
4,000 shares   May 1, 1999
4,000 shares   June 1, 1999
4,000 shares   July 1, 1999
4,000 shares   August 1, 1999
4,000 shares   September 1, 1999
4,000 shares   October 1, 1999
4,000 shares   November 1, 1999
4,000 shares   December 1, 1999
4,000 shares   January 1, 2000
4,000 shares   February 1, 2001
4,000 shares   March 1, 2001

    Notwithstanding the foregoing, all restrictions shall expire upon the occurrence of an Extraordinary Event as specified in the Plan.

    4. Certificates for Stock.

    5. Dividends. Dividends paid on the Restricted Shares shall be paid, in cash or in unrestricted shares having a fair market value equal to the amount of such dividends and shall belong to the Grantee free of any restrictions.

    6. Plan; Applicable Law. This Restricted Share award is subject in all respects to the provisions of the Plan, a copy of which has been provided to the Grantee. This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, excluding its provisions relating to conflicts of laws.

    IN WITNESS WHEREOF, the parties have caused this Agreement to be executed under seal, intending this to be a sealed instrument, as of the date first above written.

WITNESS/ATTEST:   VIEW SYSTEMS, INC.
 

 
 
 
By:
 
 
 

    Name:  
    Title:  
 

 
 
 

David C. Bruggeman

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Exhibit 10.12