FIRST AMENDMENT TO MERGER AGREEMENT

 
This First Amendment to Merger Agreement (“Amendment”) is dated December 18,
2009 by and among Galen Capital Corporation, a Nevada corporation (“GCC”), on
the one hand; and the GCC Merger Sub Corporation, a Nevada corporation (the
“Merger Sub”) and uKarma Corporation, a Nevada corporation (“uKarma”), on the
other hand.
 
RECITALS
 
WHEREAS, the parties to this Amendment entered into a certain Merger Agreement
dated October 15, 2009 (“Merger Agreement”); and
 
WHEREAS, the parties to this Amendment desire to amend the Merger Agreement as
hereinafter provided;
 
AGREEMENT
 
NOW, THEREFORE, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties to this Amendment agree as follows:
 
1. All capitalized terms not defined herein shall have the respective meanings
assigned to them in the Merger Agreement.
 
2. The second sentence of Section 1.2 is hereby modified to read in its entirety
as follows:

 
“This Agreement may be terminated by any party if the Closing does not occur by
May 15, 2010 provided such terminating party is not in breach of this
Agreement.”
 
3. Section 1.8 is hereby modified to read as follows:
 
“1.8           Payment Advances.   GCC shall pay to uKarma an amount equal to
$475,000 (“Cash Payment”) which shall be due on or prior to Closing.  The
parties acknowledge that $175,000 of the Cash Payment has already been paid to
uKarma as a non-refundable deposit.  $100,000 of the Cash Payment shall be due
and payable from GCC to uKarma on or before December 31, 2009.  GCC shall pay
uKarma an additional $100,000 of the Cash Payment on or before January 30, 2010
and an additional $100,000 on or before the later of (i) March 31, 2010 or (ii)
the date that uKarma files its Form 10-K for the fiscal year ended December 31,
2009.  GCC shall also pay uKarma for all reasonable costs associated with
uKarma’s Form 10-K filing for the year ended December 31, 2009, including all
legal, accounting, transfer agent, and EDGAR filing agent costs.  All payments
of the Cash Payment shall be delivered via wire transfer by GCC to uKarma to a
wire account designated in writing by uKarma’s Chief Executive Officer.
 
4. Section 5.7 is hereby modified to read as follows:
 
“5.7           Audit.   GCC shall have completed its consolidated audited
financial statements for the fiscal years ended December 31, 2009 and 2008
before May 15, 2010, and its reviewed financial statements for each subsequent
fiscal quarter after December 31, 2009 if required for the Form 8-K with respect
to this transaction.”
 
5. This Amendment shall be effective immediately.  Except as amended hereby, the
Merger Agreement shall continue in full force and effect in accordance with its
terms.
 
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set
forth above.
 
Galen Capital Corporation, a Nevada corporation
   
uKarma, Inc., a Nevada corporation
           
By:  /s/ William P Danielczyk 

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Name: William P Danielczyk  
   
By:  /s/ Bill Glaser

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Name: Bill Glaser
 
Title: Chairman
   
Title: Chief Executive Officer
 

 

 
GCC Merger Sub Corporation, a Nevada corporation
         
By:  
/s/ Bill Glaser      
Name: Bill Glaser
     
Title: Chief Executive Officer
 

 
 
 

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