**ESCROW****AGREEMENT**

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ESCROWAGREEMENT("EscrowAgreement")datedasofNovember5,2014byandamong**MaxSoundCorporation**("Lender")and**AdarBays,LLC**,aFloridalimitedliabilityCompany("Borrower")andNewVenture AttorneysPC (“EscrowAgent”).

 

**WHEREAS,**OnMay5,2014theBorrowerhasissueda$105,000fullrecoursecollateralizednote(the“BorrowerNote”)totheLendersecuredbya$105,000noteissuedbytheLendertotheBorrower (the “(LenderNote”);and

 

**WHEREAS,**TheBorrowerdesirestocoverttheLenderNotewhichissecuringtheBorrowerNote;and

 

**WHEREAS,**thepartieshaveagreedthattheBorrowershalldeposit$105,000intoanattorneyclienttrustaccountmaintainedbyNewVentureAttorneysPCinordertoreleasetheLenderNoteascollateralandreplaceitwithcashsothat theBorrowermay convertthe Lender Note.

 

NOWTHEREFORE,inconsiderationoftherespectivepremises,mutualcovenantsandagreementsofthepartieshereto,andothergoodandvaluableconsideration,thereceiptandsufficiencyof which are herebyacknowledged,the parties hereto agree as follows:

 

1.                 Depositof$105,000.TheBorrowerwilldeposit$105,000intotheNewVentureAttorneysP.C.IOLTAclienttrustaccounttosecureitsobligationsundertheBorrowerNote.

 

 

(a)               IntheeventofadefaultundertheBorrowerNote.TheLendermaysendademandnoticetotheEscrowAgentdemandingpaymentofthe $105,000.00.Aftervalidatingthedefault, the EscrowAgent shall remit the $105,000 to the Lender.

 

(b)              AtthetimetheBorrowerdesirestopay the$105,000backendnote,theEscrowAgentshallwirethefundsdirectlytotheLender.

 

 

3.                 ConcerningtheEscrowAgent. ToinducetheEscrowAgenttoacthereunder,itisfurtheragreedbytheundersignedthat:

 

(a)               ThisEscrowAgreementexpresslysetsforthallthedutiesoftheEscrowAgentwithrespecttoanyandallmatterspertinenthereto.Noimplieddutiesorobligationsshall,onthepartoftheEscrowAgent,bereadintothis Escrow Agreement. The EscrowAgent shall notbeboundbytheprovisionsofanyagreementamongtheotherpartiesheretoexceptthisEscrowAgreement.

 

capacity as Escrow Agent hereunder unless such action or failure to act shall constitute willfulmisconductonthepartoftheEscrowAgent.

 

(c)               ThisEscrowAgreementshallbebindinguponandinuresolelytothebenefitofthe partiesheretoandtheirrespectivesuccessors(includingsuccessorsbywayofmerger)andassigns,heirs, administrators and representatives, andshall notbe enforceable by or inuretothe benefit of any third party except as provided in paragraph (g) with respect to a resignation by the EscrowAgent.

 

(d)              ThisEscrowAgreementmaybemodifiedbyawritingsignedbyallthepartieshereto,andnowaiverhereundershallbeeffectiveunlessinwritingsignedbythepartytobecharged.

 

4.              GoverningLaw.ThisEscrow AgreementshallbegovernedinallrespectsbythelawsoftheStateofNewYork. Thepartiesagreetosubmit tothe jurisdiction and venue of any state or federal court in New Yorkhaving subject matter jurisdictionover thematter.Servicemay bemade by certified mail,return receipt requested, to the parties at the addresses set forth in paragraph 8 below,

 

5.Counterparts. ThisEscrowAgreementmaybeexecutedinanynumberofcounterparts,eachofwhichshallbedeemedtobeanoriginal,andallsuchcounterpartsshallconstituteone Agreement. Delivery of an executed counterpart of a signature page to thisAgreement by facsimile transmission or e-mail in pdf format shall be effectiveas deliveryof amanually executed counterpart. Anypartyso delivering this Agreement shall promptlydeliver a manuallyexecutedcounterpart,providedthat any failure todo soshall not affectthe validity of the counterpartexecuted by facsimile ore-mailtransmission.

 

 

INWITNESSWHEREOF,thepartiesheretohavecausedthisEscrowAgreementtobedulyexecutedanddelivered,asofthedayandyearfirstabovewritten.

 

BORROWER:

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**LENDER**

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**ESCROWAGENT**:

 

**NEWVENTUREATTORNEYS,PC**

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Name 	 TomerTal,President