CirTran Corporation (CIRX)

[NASCOW]

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Ratification Agreement with YA Global Investments, L.P., dated February 22, 2013

Repayment of the Obligations

7.

The payment schedule set forth in the Forbearance Agreement is hereby superseded and replaced by the provisions of this Section 7. From and after the execution of this Agreement, the Borrower shall make monthly payments, which payments shall (unless otherwise indicated below) be applied first to accrued but unpaid interest and then to the principal balance of the Obligations, in the amount of $100,000 per month on or before the 15 th day of each month (or the next Business Day thereafter) (each, a “ Payment Date ”), commencing in April 2013 and continuing on each successive month thereafter, of $100,000, less the amount, if any, of any Conversion Amount credited by Lender, as Holder of the Consolidated Debenture, since the last preceding Payment Date in accordance with the terms of the Consolidated Debenture to reduction of the Principal, Prior Interest, and/or accrued, but unpaid interest under the Consolidated Debenture. Any Conversion Amount credited by Lender during any month preceding a Payment Date in excess of $100,000 shall be applied to the next succeeding monthly payment(s). Notwithstanding anything to the contrary set forth herein, upon transfer or assignment of any portion of the Consolidated Debenture by the Lender to a third party who is unaffiliated with the Lender, Borrower shall continue to make the payments due under the Consolidated Debenture to Lender, which shall be solely responsible for payments to such transferee or assignee.

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