Exhibit
10.4


 


ESCROW
AGREEMENT


 


Escrow
Agreement (the “Escrow Agreement”) dated as of the effective date (the “Effective Date”) set forth on
Schedule 1 hereto (“Schedule 1”) by and among the corporation identified as the “Company” on Schedule
1 hereto (the “Company”), the company identified on Schedule 1 hereto (the “Depositor”), and Delaware
Trust Company, as escrow agent hereunder (the “Escrow Agent”).


 


WHEREAS,
the Company intends to offer and sell to buyers (the “Subscribers”) and Subscribers desire to purchase from the Company
in a private placement offering (the “Offering”) Series B Preferred Stock (the “Securities”), with each
Security having voting power equivalent to 15,463.7183 shares of the Company’s common stock (“Common Stock”).
The Company intends to raise an amount up to Four Million Dollars ($4,000,000), which amount will include the cancellation of
up to $500,000 of debt, with an over allotment up to One Million Five Hundred Thousand Dollars ($1,500,000) (collectively referred
to as the “Offering Amount”). The price per Security is $1.25 (the “Purchase Price”);


 


WHEREAS,
the Offering is being made on a reasonable best efforts basis until the Offering Amount is reached, to “accredited investors,”
as such term is defined in Rule 501 of Regulation D (“Regulation D”) as promulgated by the U.S. Securities and Exchange
Commission (the “SEC”) under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”);


 


WHEREAS,
the Company’s Securities may be offered through February 29, 2016 (the “Initial Offering Period”), which
period may be extended, at the discretion of the Company, to April 15, 2016 (this additional period and the Initial Offering Period
shall be referred to as the “Offering Period”);


 


WHEREAS,
the initial closing of the Offering (the “Initial Closing”) is conditioned on the receipt of acceptable subscriptions
by the Company and the satisfaction of other closing conditions, including but not limited to the condition that at least $1,000,000
of the Offering Amount shall have been received by the Escrow Agent prior thereto (collectively, the “Initial Closing Conditions”);


 


WHEREAS,
after the Initial Closing, the Company and the Depositor may mutually agree to continue the Offering until the Offering Amount
has been reached or the end of the Offering Period, whichever is earlier, and subsequent closings (each, a “Subsequent Closing”)
may take place on an intermittent basis, as deemed practical by the Company and the Depositor, conditioned on the receipt of acceptable
subscriptions (this requirement for the receipt of acceptable subscriptions, together with certain other conditions to closing,
are collectively referred to as the “Subsequent Closing Conditions”);


 


WHEREAS,
the Subscribers in the Offering in connection with their intent to purchase the Securities in the Offering, shall execute and
deliver Subscription Agreements and certain related documents memorializing the Subscriber’s agreements to purchase and
the Company’s agreement to sell the Securities set forth therein at the Purchase Price;


 






     


     


    

 


WHEREAS,
the parties hereto desire to provide for the safekeeping of the Escrow Deposit (as defined below) until such time as the Escrow
Deposit is released by the Escrow Agent in accordance with the terms and conditions of this Agreement; and


 


WHEREAS,
the Escrow Agent has agreed to accept, hold, and disburse the Escrow Deposit deposited with it and the earnings thereon in accordance
with the terms of this Escrow Agreement.


 


NOW
THEREFORE, in consideration of the foregoing and of the mutual covenants hereinafter set
forth, the parties hereto agree as follows:


 


1.             Appointment.  The
Company and Depositor hereby appoint the Escrow Agent as their escrow agent for the purposes set forth herein, and the Escrow
Agent hereby accepts such appointment under the terms and conditions set forth herein.


 


2.             Escrow
Fund.  On or before the Initial Closing, or on or before any Subsequent Closing with respect to the Securities sold
after the Initial Closing, each Subscriber shall have delivered to the Escrow Agent the full Purchase Price for the total number
of Securities subscribed for by such Subscriber by check sent to the Escrow Agent at its address set forth on Schedule 1 hereto,
or by wire transfer of immediately available funds pursuant to the wire transfer instructions set forth on Schedule 2 hereto,
to the account of the Escrow Agent referenced on Schedule 2 hereto. All funds received from the subscribers in connection with
the sale of the Securities in the Offering shall be deposited with the Escrow Agent (the “Escrow Deposit”). The Escrow
Agent shall hold the Escrow Deposit and, subject to the terms and conditions hereof, shall invest and reinvest the Escrow Deposit
and the proceeds thereof (the “Escrow Fund”) as directed in Section 3 hereto.


 


3.             Investment
of Escrow Fund.  During the term of this Escrow Agreement, the Escrow Fund shall be invested and reinvested by the
Escrow Agent in the investment indicated on Schedule 1 hereto, or such other investments as shall be directed in writing by the
Company and the Depositor and as shall be acceptable to the Escrow Agent. All investment orders involving U.S. Treasury obligations,
commercial paper and other direct investments may be executed through broker-dealers selected by the Escrow Agent. Periodic statements
will be provided to the Company and the Depositor reflecting transactions executed on behalf of the Escrow Fund. The Company and
the Depositor, upon written request, will receive a statement of transaction details upon completion of any securities transaction
in the Escrow Fund without any additional cost. The Escrow Agent shall have the right to liquidate any investments held in order
to provide funds necessary to make required payments under this Escrow Agreement. The Escrow Agent shall have no liability for
any loss sustained as a result of any investment in an investment indicated on Schedule 1 hereto, or any investment made pursuant
to the instructions of the parties hereto or as a result of any liquidation of any investment prior to its maturity or for the
failure of the parties to give the Escrow Agent instructions to invest or reinvest the Escrow Fund. The Escrow Agent may earn
compensation in the form of short-term interest (“float”) on items like uncashed distribution checks (from the date
issued until the date cashed), funds that the Escrow Agent is directed not to invest, deposits awaiting investment direction or
received too late to be invested overnight in previously directed investments.


 






     


     


    

 


4.             Disposition
and Termination.  The Depositor and the Company agree to notify the Escrow Agent in writing of any valid revocations
and the Initial Closing date of the Offering. Additionally, subsequent to an Initial Closing, the Depositor and the Company agree
to notify the Escrow Agent in writing of Subsequent Closing dates, if any, and of the termination of the Offering. Upon receipt
of such written notification(s), the following procedures will take place:


 


		(i)	Release
                                         of Escrow Fund upon Initial Closing. Prior to the Initial Closing, the Company and
                                         the Depositor shall deliver to the Escrow Agent joint written instructions executed by
                                         a duly authorized executive officer of each of the Company and the Depositor (“Instructions”),
                                         which Instructions shall provide the day designated as the Initial Closing date, and
                                         shall specify the time and payment instructions, including the address and tax identification
                                         number of each payee, of the Escrow Fund, including with respect to placement fees that
                                         may be disbursed to the Depositor or to any other placement agent or selected dealer
                                         with respect to the Offering. Further, the Instructions shall include an acknowledgement
                                         and agreement from the Company and the Depositor that as of the Initial Closing date,
                                         the Closing Conditions have been or will be fully satisfied. The Escrow Agent shall,
                                         at the time and in accordance with the payment instructions specified in the Instructions,
                                         deliver the Escrow Fund (without interest).



 


		(ii)	Release
                                         of Escrow Fund upon a Subsequent Closing. Prior to a Subsequent Closing, the Company
                                         and the Depositor shall deliver to the Escrow Agent Instructions, which Instructions
                                         shall provide the day designated as the Subsequent Closing date, and acknowledge and
                                         agree that as of the Subsequent Closing date the Subsequent Closing Conditions have been
                                         or will be fully satisfied and shall specify the time and payment instructions, including
                                         the address and tax identification number of each payee, of the Escrow Fund, including
                                         with respect to placement fees that may be disbursed to the Depositor or to any other
                                         placement agent or selected dealer. The Escrow Agent shall, at the time and in accordance
                                         with the payment instructions specified in the Instructions, deliver the then Escrow
                                         Fund (without interest).



 


		(iii)	Release
                                         of Escrow Fund on Termination of Offering. In the event that the Escrow Agent shall
                                         have received written notice executed by a duly authorized executive officer of each
                                         of the Company and the Depositor indicating that the Offering has been terminated prior
                                         to the Initial Closing and designating a termination date, the Escrow Agent shall return
                                         to each Subscriber, the Purchase Price (without interest and deduction) delivered by
                                         such Subscriber to the Escrow Agent. The Company and the Depositor shall provide the
                                         Escrow Agent with time and payment instructions, including the address and tax identification
                                         number of each payee, for each Subscriber whose Purchase Price the Escrow Agent is to
                                         deliver pursuant to this Section (but in no case shall the Escrow Agent deliver such
                                         Purchase Price more than seven (7) days following receipt by the Escrow Agent of such
                                         delivery instructions).



 






     


     


    

 


		(iv)	Return
                                         of Escrow Fund on Rejection of Subscription. In the event the Company determines
                                         it is necessary or appropriate to reject the subscription of any Subscriber for whom
                                         the Escrow Agent has received an Escrow Deposit, the Company shall deliver written notice
                                         of such event to the Escrow Agent and the Depositor which notice shall include the reason
                                         for such rejection and the time and payment instructions, including the address and tax
                                         identification number of each payee, for the return to such Subscriber of the Purchase
                                         Price delivered by such Subscriber. The Escrow Agent shall deliver such funds (without
                                         interest and deduction) pursuant to such written notice.



 


		(v)	Return
                                         of Escrow Fund on Revocation of Subscription. In the event that the Escrow Agent
                                         shall have received written notice executed by a duly authorized executive officer of
                                         each of the Company and the Depositor indicating that any subscription has been revoked
                                         prior to the Initial Closing, pursuant to the subscription agreement between the Company
                                         and the relevant Subscriber, the Escrow Agent shall return to such revoking Subscriber,
                                         the Purchase Price (without interest and deduction) delivered by such Subscriber to the
                                         Escrow Agent. The Company and the Depositor shall provide the Escrow Agent with time
                                         and payment instructions, including the address and tax identification number of each
                                         payee, for each Subscriber whose Purchase Price the Escrow Agent is to deliver pursuant
                                         to this Section (but in no case shall the Escrow Agent deliver such Purchase Price more
                                         than seven (7) days following receipt by the Escrow Agent of such delivery instructions).



 


		(vi)	Delivery
                                         Pursuant to Court Order. Notwithstanding any provision contained herein, upon receipt
                                         by the Escrow Agent of a final and non-appealable judgment, order, decree or award of
                                         a court of competent jurisdiction (a “Court Order”), the Escrow Agent shall
                                         deliver the Escrow Fund in accordance with the Court Order. Any Court Order shall be
                                         accompanied by an opinion of counsel for the party presenting the Court Order to the
                                         Escrow Agent (which opinion shall be satisfactory to the Escrow Agent) to the effect
                                         that the court issuing the Court Order has competent jurisdiction and that the Court
                                         Order is final and non-appealable.



 


Upon
delivery of the Escrow Fund by the Escrow Agent (i) to the Company following the Initial Closing, if there are to be no Subsequent
Closings, (ii) following a Subsequent Closing, or (iii) to the Subscribers upon termination of the Offering prior to the Initial
Closing, as the case may be, and in each case notice of termination of the Offering having been delivered by the Company and the
Depositor to the Escrow Agent, this Escrow Agreement shall terminate, subject to the provisions of Section 8.


 






     


     


    

 


5.             Escrow
Agent.  The Escrow Agent undertakes to perform only such duties as are expressly set forth herein and no duties
shall be implied. The Escrow Agent shall have no liability under and no duty to inquire as to the provisions of any agreement
other than this Escrow Agreement. The Escrow Agent may rely upon and shall not be liable for acting or refraining from acting
upon any written notice, instruction or request furnished to it hereunder and believed by it to be genuine and to have been signed
or presented by the proper party or parties. The Escrow Agent shall be under no duty to inquire into or investigate the validity,
accuracy or content of any such document. The Escrow Agent shall have no duty to solicit any payments which may be due it or the
Escrow Fund. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that
a court of competent jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary
cause of any loss to the Company or Depositor. The Escrow Agent may execute any of its powers and perform any of its duties hereunder
directly or through agents or attorneys (and shall be liable only for the careful selection of any such agent or attorney) and
may consult with counsel, accountants and other skilled persons to be selected and retained by it. The Escrow Agent shall not
be liable for anything done, suffered or omitted in good faith by it in accordance with the advice or opinion of any such counsel,
accountants or other skilled persons. In the event that the Escrow Agent shall be uncertain as to its duties or rights hereunder
or shall receive instructions, claims or demands from any party hereto which, in its opinion, conflict with any of the provisions
of this Escrow Agreement, it shall be entitled to refrain from taking any action and its sole obligation shall be to keep safely
all property held in escrow until it shall be directed otherwise in writing by all of the other parties hereto or by a final order
or judgment of a court of competent jurisdiction. Anything in this Escrow Agreement to the contrary notwithstanding, in no event
shall the Escrow Agent be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not
limited to lost profits), even if the Escrow Agent has been advised of the likelihood of such loss or damage and regardless of
the form of action.


 


6.             Succession.  The
Escrow Agent may resign and be discharged from its duties or obligations hereunder by giving ten (10) Business Days (as defined
below) advance notice in writing of such resignation to the other parties hereto specifying a date when such resignation shall
take effect. The Escrow Agent shall have the right to withhold an amount equal to any amount due and owing to the Escrow Agent,
plus any costs and expenses the Escrow Agent shall reasonably believe may be incurred by the Escrow Agent in connection with the
termination of the Escrow Agreement. Any corporation or association into which the Escrow Agent may be merged or converted or
with which it may be consolidated shall be the Escrow Agent under this Escrow Agreement without further act.


 


7.             Fees.  The
Company agrees to (i) pay the Escrow Agent upon the Closing and from time to time thereafter reasonable compensation for the services
to be rendered hereunder, which unless otherwise agreed in writing shall be as described in Schedule 4 hereto, and (ii) pay or
reimburse the Escrow Agent upon request for all expenses, disbursements and advances, including reasonable attorney’s fees
and expenses, incurred or made by it in connection with the preparation, execution, performance, delivery, modification and termination
of this Escrow Agreement. The Escrow Agent is authorized to deduct such fees from the Escrow Fund at the time of the Initial Closing
without prior authorization from the Company or the Depositor. In the event that the Offering is terminated prior to the Initial
Closing, the Company agrees to pay the Escrow Agent the Review Fee and the Acceptance Fee as described in Schedule 4 hereto.


 






     


     


    

 


8.             Indemnity.  The
Company shall indemnify and save harmless the Escrow Agent and its directors, officers, agents and employees (the “indemnitees”)
from all loss, liability or expense (including the reasonable fees and expenses of in house or outside counsel) arising out of
or in connection with (i) the Escrow Agent’s execution and performance of this Escrow Agreement, except in the case of any
indemnitee to the extent that such loss, liability or expense is due to the gross negligence or willful misconduct of such indemnitee,
or (ii) its following any instructions or other directions from the Company and/or the Depositor, except to the extent that (x)
its following any such instruction or direction is in violation of the terms hereof or (y) such loss, liability or expense is
due to the gross negligence or willful misconduct of a Depositor, in which case such Depositor shall be the indemnifying party
hereunder. The parties hereto acknowledge that the foregoing indemnities shall survive the resignation or removal of the Escrow
Agent or the termination of this Escrow Agreement.


 


9.             TINs.  The
Company and the Depositor each represent that its correct TIN assigned by the Internal Revenue Service or any other taxing authority
is set forth in Schedule 1 hereto. All interest or other income earned under the Escrow Agreement, if any, shall be allocated
and/or paid as directed in a joint written direction of the Company and the Depositor and reported by the recipient to the Internal
Revenue Service or any other taxing authority. Unless otherwise indicated in writing by the Company and the Depositor, no taxes
or other withholdings are required to be made under applicable law or otherwise with respect to any payment to be made by Escrow
Agent. All documentation necessary to support a claim of exemption or reduction in such taxes or other withholdings has been timely
collected by Company and the Depositor and copies will be provided to Escrow Agent promptly upon a request therefor. Unless otherwise
agreed to in writing by Escrow Agent, all tax returns required to be filed with the IRS and any other taxing authority as required
by law with respect to payments made hereunder shall be timely filed and prepared by Company and/or the Depositor, as applicable,
including but not limited to any applicable reporting or withholding pursuant to the Foreign Account Tax Reporting Act ("FATCA"). 
The parties hereto acknowledge and agree that the Escrow Agent shall have no responsibility for the preparation and/or filing
of any tax return or any applicable FATCA reporting with respect to the Escrow Fund.    The Escrow Agent shall
withhold any taxes it deems appropriate, including but not limited to required withholding in the absence of proper tax documentation,
and shall remit such taxes to the appropriate authorities as it determines may be required by any law or regulation in effect
at the time of the distribution..


 


10.             Notices.  All
communications hereunder shall be in writing and shall be deemed to be duly given and received:


 


		(i)	upon delivery
                                         if delivered personally or upon confirmed transmittal if by facsimile;



 


		(ii)	on the
                                         next Business Day (as defined herein) if sent by overnight courier; or



 


		(iii)	four
                                         (4) Business Days after mailing if mailed by prepaid registered mail, return receipt
                                         requested, to the appropriate notice address set forth on Schedule 1 hereto or at such
                                         other address as any party hereto may have furnished to the other parties in writing
                                         by registered mail, return receipt requested.



 






     


     


    

 


Notwithstanding
the above, in the case of communications delivered to the Escrow Agent pursuant to (ii) and (iii) of this Section 10, such communications
shall be deemed to have been given on the date received by the Escrow Agent. In the event that the Escrow Agent, in its sole discretion,
shall determine that an emergency exists, the Escrow Agent may use such other means of communication as the Escrow Agent deems
appropriate. “Business Day” shall mean any day other than a Saturday, Sunday or any other day on which the Escrow
Agent located at the notice address set forth on Schedule 1 hereto is authorized or required by law or executive order to remain
closed.


 


11.          Security
Procedures.  In the event funds transfer instructions are given (other than in writing at the time of execution
of this Escrow Agreement), whether in writing, by telecopier or otherwise, the Escrow Agent is authorized to seek confirmation
of such instructions by telephone call-back to the person or persons designated on Schedule 3 hereto, and the Escrow Agent may
rely upon the confirmation of anyone purporting to be the person or persons so designated. The persons and telephone numbers for
call-backs may be changed only in a writing actually received and acknowledged by the Escrow Agent. The Escrow Agent and the beneficiary’s
bank in any funds transfer may rely solely upon any account numbers or similar identifying numbers provided by the Company or
the Depositor to identify (i) the beneficiary, (ii) the beneficiary’s bank, or (iii) an intermediary bank. The Escrow Agent
may apply any of the escrowed funds for any payment order it executes using any such identifying number, even where its use may
result in a person other than the beneficiary being paid, or the transfer of funds to a bank other than the beneficiary’s
bank or an intermediary bank designated. The parties to this Escrow Agreement acknowledge that these security procedures are commercially
reasonable.


 


12.          Miscellaneous.  The
provisions of this Escrow Agreement may be waived, altered, amended or supplemented, in whole or in part, only by a writing signed
by all of the parties hereto. Neither this Escrow Agreement nor any right or interest hereunder may be assigned in whole or in
part by any party, except as provided in Section 6, without the prior consent of the other parties, which consent shall not be
unreasonably withheld. This Escrow Agreement shall be governed by and construed under the laws of the State of Delaware. Each
party hereto irrevocably waives any objection on the grounds of venue, forum non-conveniens or any similar grounds and irrevocably
consents to service of process by mail or in any other manner permitted by applicable law and consents to the jurisdiction of
the courts located in the State of Delaware. The parties further hereby waive any right to a trial by jury with respect to any
lawsuit or judicial proceeding arising or relating to this Escrow Agreement. No party to this Escrow Agreement is liable to any
other party for losses due to, or if it is unable to perform its obligations under the terms of this Escrow Agreement because
of, acts of God, fire, floods, strikes, equipment or transmission failure, or other causes reasonably beyond its control. This
Escrow Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.


 




     


     


    

 


IN
WITNESS WHEREOF, the parties hereto have executed this Subscription Escrow Agreement as of the date set forth in Schedule
1. 


 


	 	Delaware Trust Company
	 	as Escrow Agent
	 	 	 
	 	By:	/s/ Alan R. Halpern
	 	Name: 	Alan R. Halpern
	 	Title:	Vice President
	 	 	 
	 	COMPANY
	 	 
	 	ATRINSIC, INC.
	 	 	 
	 	By:	/s/ Edward Gildea
	 	Name:	Edward Gildea
	 	Title:	Chief Executive Officer
	 	 	 
	 	DEPOSITOR:
	 	 
	 	KATALYST SECURITIES LLC
	 	 	 
	 	By:	/s/ Michael A. Silverman
	 	Name:	Michael A. Silverman
	 	Title:	Managing Director


 




     


     


    

 


Schedule
1


 


	Effective Date:	January 25, 2016
	 	 
	Name of Company:	Atrinsic, Inc.
	 	 
	Company Notice Address	 
	(through the First Closing):	65 Atlantic Avenue
	 	Boston, MA  02110
	 	 
	With a copy to:	Sanders Ortoli Vaughn-Flam Rosentadt
	(which shall not	501 Madison Avenue, 14th Floor
	constitute notice)	New York, NY 10022
	 	Attn:  Tim Dockery, Esq.
	 	 
	After the First Closing:	149 Fifth Avenue, Suite 500
	 	New York, NY 10010
	 	 
	With a copy to:	Meister Seelig & Fein LLP
	(which shall not	125 Park Avenue, 7th Floor
	constitute notice)	New York, NY 10017
	 	Attn:  Kenneth S. Goodwin, Esq.
	 	 
	Company TIN:	06-1390025
	 	 
	Name of Depositor:	 
	 	 
	Depositor:	Katalyst Securities LLC
	 	1330 Avenue of the Americas, 35th Floor
	 	New York, NY 10019
	 	Attn:  Michael Silverman
	Facsimile:	1-212-400-6901
	 	 
	Depositor TIN:	23-3071873
	 	 
	With a copy to:	Barbara J. Glenns, Esq.
	(which shall not	30 Waterside Plaza, Suite 25G
	constitute notice)	New York, NY 10010
	 	 
	Escrow Deposit:	$5.5 million, in whole or in parts
	 	 
	Security:	Series B Preferred Stock
	 	 
	Purchase Price:	$1.25 per share


 






     


     


    

 


Investment:


 


		 ̈	Goldman
                                         Sachs Financial Square Funds Prime Obligations Fund Service Shares (the “Share
                                         Class”), an institutional money market mutual fund for which the Escrow Agent serves
                                         as shareholder servicing agent and/or custodian or subcustodian. The parties hereto:
                                         (i) acknowledge Escrow Agent’s disclosure of the services CSC is providing to and
                                         the fees it receives from Goldman Sachs; (ii) consent to the Escrow Agent’s receipt
                                         of these fees in return for providing shareholder services for the Share Class; and (iii)
                                         acknowledge that the Escrow Agent has provided on or before the date hereof a Goldman
                                         Sachs Financial Square Funds Prime Obligations Fund Service Shares prospectus which discloses,
                                         among other things, the various expenses of the Share Class and the fees to be received
                                         by the Escrow Agent. 



 


		 ̈	Such
                                         other investments as Company, Depositor and Escrow Agent may from time to time mutually
                                         agree upon in a writing executed and delivered by the Company and the Depositor and accepted
                                         by the Escrow Agent. 



 


		x	The
                                         funds shall not be invested. 



 


Escrow
Agent notice address:


 


Delaware
Trust Company


2711
Centerville Road


One
Little Falls Centre


Wilmington,
DE 19808


Attention:
Alan R. Halpern


Fax
No.:  302-636-8666


 


Escrow
Agent’s compensation: See Appended Schedule 4.


 




     


     


    

 


Schedule
2


 


Wire
Instructions


 


PNC Bank


300 Delaware Avenue


Wilmington DE 19899


ABA# 031100089


SWIFT Code: PNCCUS33


Account Name:  Delaware
Trust Company


Account Number:  5605012373


FFC:  ATRINSIC,
INC. Acct# 79-2579


MUST
INCLUDE THE SUBSCRIBER’S NAME


 




     


     


    

 


Schedule
3


 


Telephone
Number(s) for Call-Backs and


Person(s)
Designated to Confirm Funds Transfer Instructions


 


If
to Company:


 


	Name	 	Telephone
    Number(s)
	 	 	 
	1. Edward Gildea	 	617-823-2300
	 	 	 
	2. Robert Ziroyan	 	(416) 500-3305
	 	 	 
	3. Alexander Arrow	 	(310) 766-6223


 


If
to Depositor:


 


	Name	 	Telephone
    Number
	 	 	 
	Katalyst Securities
    LLC	 	 
	 	 	 
	1. Michael A. Silverman	 	917-696-1708
	 	 	 
	2. Barbara J. Glenns	 	212-689-6153


 


Telephone call-backs
may be made to the Company and the Depositor if joint instructions are required pursuant to this Escrow Agreement.


 




     


     


    

 


Schedule
4


 


REVIEW FEE:


For
initial examination of the Escrow Agreement and all supporting documents. This is a one-time fee payable upon execution of the
agreement.


$500.00                      


 


ACCEPTANCE
FEE:


For
initial services associated with establishing the Escrow Account. This is a one-time fee payable upon execution of the agreement.


$500.00                      


 


ANNUAL ADMINISTRATION
FEE:


An
annual charge or any portion of a 12-month period thereof. This fee is payable 45 days after the opening of the Escrow Account
or prior to the final disbursement of the Escrow Fund, whichever event occurs first, and in advance of the annual anniversary
date thereafter. This charge is not prorated for the first year. There is an additional annual charge of $250.00/subaccount
opened.


 


$1,500.00 covering
up to 100 deposits. There will be an additional administration fee of $750.00 for each block of 50 deposits over the initial 100
deposits.


 


TRANSACTION
FEES:


Wire transfer
of fund: $35.00/domestic wire initiated; $50.00/international wire initiated


Checks Cut: $10.00/check
cut


Securities Purchase
(Buy and Sell): $50.00/transaction


Returned Check:
$30.00/returned item


 


Out-of-pocket
expenses, fees and disbursements and services of an unanticipated or unexpected nature are not included in the above schedule.