Document:

Unassociated Document

    STOCK
      PURCHASE AGREEMENT

     

    THIS
      STOCK PURCHASE AGREEMENT (this “Agreement”),
      dated
      as of August 13, 2007, is made by and between International Food and Wine
      Consultants, Inc., a Delaware corporation (“Seller”),
      and
      Mary Beth Clark (the “Buyer”).

     

    RECITALS

     

    A. Seller
      owns one thousand (1,000) shares of common stock, $0.001 par value per share
      (the “Shares”)
      of
      IFWC Holdings, Inc., Inc., a Delaware corporation (the “Company”),
      which
      shares constitute, as of the date hereof, all of the issued and outstanding
      capital stock of the Company.

     

    B. Buyer
      holds 25,545,984 shares of common stock, $0.001 par value per share, of Seller
      (the “Purchase
      Price Shares”),
      and
      Buyer has agreed to transfer such interest back to Seller for immediate
      cancellation (the “Redemption”).

     

    C. In
      connection with the Redemption, Buyer wishes to acquire from Seller, and Seller
      wishes to transfer to Buyer, the Shares, upon the terms and subject to the
      conditions set forth herein.

     

    Accordingly,
      the parties hereto agree as follows:

     

    1. Purchase
      and Sale of Shares.
      

     

    (a) Purchased
      Shares.
      Subject
      to the terms and conditions provided below, Seller shall sell, transfer, convey,
      and assign to Buyer, and Buyer shall purchase and acquire from Seller, on the
      Closing Date (as defined in Section 1(c)), all of the Shares, free and clear
      of
      any and all Liens.

     

    (b) Purchase
      Price.
      As
      consideration for the sale contemplated by Section 1(a) and as the purchase
      price therefor, on the Closing Date, Buyer shall sell, transfer, convey and
      assign to Seller, and Seller shall purchase and acquire from Buyer, the Purchase
      Price Shares, free and clear of any and all Liens.

     

    (c) Closing.
      The
      closing of the transactions contemplated in this Agreement (the “Closing”)
      shall
      take place as soon as practicable following the execution of this Agreement.
      The
      date on which the Closing occurs shall be referred to herein as the
“Closing
      Date”.

     

    2. Closing.

     

    (a) Transfer
      of Shares.
      At the
      Closing, Seller shall deliver to Buyer certificates representing the Shares,
      duly endorsed to Buyer or as directed by Buyer, which delivery shall vest Buyer
      with good and marketable title to all of the issued and outstanding shares
      of
      capital stock of the Company, free and clear of all Liens.

     

    (b)
      Payment
      of Purchase Price.
      At the
      Closing, Buyer shall deliver to Seller a certificate or certificates
      representing the Purchase Price Shares duly endorsed to Seller, which delivery
      shall vest Seller with good and marketable title to the Purchase Price Shares,
      free and clear of all Liens.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    (c) Cancellation.
      Immediately following the Closing, the Purchase Price Shares shall be cancelled
      without any further action of any kind by any party.

     

    3. Representations
      and Warranties of Seller.
      Seller
      represents and warrants to Buyer as of the date hereof and as of the Closing
      Date as follows:

     

    (a) Corporate
      Authorization; Enforceability.
      The
      execution, delivery and performance by Seller of this Agreement is within the
      corporate powers and has been, duly authorized by all necessary corporate action
      on the part of Seller. This Agreement has been duly executed and delivered
      by
      Seller and constitutes the valid and binding agreement of Seller, enforceable
      against Seller in accordance with its terms, except to the extent that its
      enforceability may be subject to applicable bankruptcy, insolvency,
      reorganization, moratorium and similar Laws affecting the enforcement of
      creditors’ rights generally and by general equitable principles.

     

    (b) Governmental
      Authorization.
      The
      execution, delivery and performance by Seller of this Agreement requires no
      consent, approval, Order, authorization or action by or in respect of, or filing
      with, any Governmental Authority.

     

    (c) Non-Contravention;
      Consents.
      The
      execution, delivery and performance by Seller of this Agreement and the
      consummation of the transactions contemplated hereby do not (i) violate the
      certificate of incorporation or bylaws of Seller or (ii) violate any applicable
      Law or Order.

     

    (d) Capitalization.
      As of
      the date hereof, Seller owns the Shares, which shares represent 100% of the
      authorized, issued and outstanding capital stock of the Company. The Shares
      to
      be acquired by Buyer are duly authorized, validly issued, fully-paid,
      non-assessable and free and clear of any Liens.

     

    4. Representations
      and Warranties of Buyer.
      Buyer
      represents and warrants to Seller as of the date hereof and as of the Closing
      Date as follows:

     

    (a) Enforceability.
      The
      execution, delivery and performance by Buyer of this Agreement are within
      Buyer’s powers. This Agreement has been duly executed and delivered by Buyer and
      constitutes the valid and binding agreement of Buyer, enforceable against Buyer
      in accordance with its terms, except to the extent that its enforceability
      may
      be subject to applicable bankruptcy, insolvency, reorganization, moratorium
      and
      similar laws affecting the enforcement of creditors' rights generally and by
      general equitable principles.

     

    (b) Governmental
      Authorization.
      The
      execution, delivery and performance by Buyer of this Agreement require no
      consent, approval, Order, authorization or action by or in respect of, or filing
      with, any Governmental Authority.

     

    (c) Non-Contravention;
      Consents.
      The
      execution, delivery and performance by Buyer of this Agreement, and the
      consummation of the transactions contemplated hereby do not violate any
      applicable Law or Order.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    

     

    (d) Purchase
      for Investment.
      Buyer
      is financially able to bear the economic risks of acquiring Shares and the
      other
      transactions contemplated hereby, and has no need for liquidity in this
      investment. Buyer has such knowledge and experience in financial and business
      matters in general, and with respect to businesses of a nature similar to the
      business of the Company, so as to be capable of evaluating the merits and risks
      of, and making an informed business decision with regard to, the acquisition
      of
      the Shares. Buyer is acquiring the Shares solely for Buyer’s own account and not
      with a view to or for resale in connection with any distribution or public
      offering thereof, within the meaning of any applicable securities laws and
      regulations, unless such distribution or offering is registered under the
      Securities Act of 1933, as amended (the “Securities
      Act”),
      or an
      exemption from such registration is available. Buyer has (i) received all the
      information it has deemed necessary to make an informed investment decision
      with
      respect to the acquisition of the Shares, (ii) had an opportunity to make such
      investigation as Buyer has desired pertaining to the Company and the acquisition
      of an interest therein, and to verify the information which is, and has been,
      made available to it and (iii) had the opportunity to ask questions of Seller
      concerning the Company. Buyer has received no public solicitation or
      advertisement with respect to the offer or sale of the Shares. Buyer realizes
      that the Shares are “restricted securities” as that term is defined in Rule 144
      promulgated by the Securities and Exchange Commission under the Securities
      Act,
      the resale of the Shares is restricted by federal and state securities laws
      and,
      accordingly, the Shares must be held indefinitely unless their resale is
      subsequently registered under the Securities Act or an exemption from such
      registration is available for their resale. Buyer understands that any resale
      of
      the Shares by Buyer must be registered under the Securities Act (and any
      applicable state securities law) or be effected in circumstances that, in the
      opinion of counsel for the Company at the time, create an exemption or otherwise
      do not require registration under the Securities Act (or applicable state
      securities laws). Buyer acknowledges and consents that certificates now or
      hereafter issued for the Shares will bear a legend substantially as
      follows:

     

    THE
      SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR QUALIFIED UNDER
      ANY APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”), HAVE BEEN ACQUIRED FOR
      INVESTMENT AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED
      EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
      QUALIFICATION UNDER THE STATE ACTS OR PURSUANT TO EXEMPTIONS FROM SUCH
      REGISTRATION OR QUALIFICATION REQUIREMENTS (INCLUDING, IN THE CASE OF THE
      SECURITIES ACT, THE EXEMPTIONS AFFORDED BY SECTION 4(1) OF THE SECURITIES ACT
      AND RULE 144 THEREUNDER). AS A PRECONDITION TO ANY SUCH TRANSFER, THE ISSUER
      OF
      THESE SECURITIES SHALL BE FURNISHED WITH AN OPINION OF COUNSEL OPINING AS TO
      THE
      AVAILABILITY OF EXEMPTIONS FROM SUCH REGISTRATION AND QUALIFICATION AND/OR
      SUCH
      OTHER EVIDENCE AS MAY BE SATISFACTORY THERETO THAT ANY SUCH TRANSFER WILL NOT
      VIOLATE THE SECURITIES LAWS.

     

    Buyer
      understands that the Shares are being sold to Buyer pursuant to the exemption
      from registration and that Seller is relying upon the representations made
      herein as one of the bases for claiming the exemption. 

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    

     

    (e) Liabilities.
      Following the Closing, Seller will have no debts, liabilities or obligations
      relating to the Company or its business or activities, and there are no
      outstanding guaranties, performance or payment bonds, letters of credit or
      other
      contingent contractual obligations that have been undertaken by Seller directly
      or indirectly in relation to the Company or its business and that may survive
      the Closing. 

     

    (f) Title
      to Purchase Price Shares.
      Buyer
      is the sole record and beneficial owner of the Purchase Price Shares. At
      Closing, Buyer will have good and marketable title to the Purchase Price Shares,
      which Purchase Price Shares are, and at the Closing will be, free and clear
      of
      all options, warrants, pledges, claims, liens and encumbrances, and any
      restrictions or limitations prohibiting or restricting transfer to Seller,
      except for restrictions on transfer as contemplated by applicable securities
      laws.

     

    (g) Solvency.
      Buyer
      is not insolvent and Buyer will not be rendered insolvent as a result of any
      of
      the transactions contemplated by this Agreement. For purposes hereof, the term
      “solvent” means that (a) the fair salable value of Buyer’s assets is in excess
      of the total amount of its liabilities (including, for purposes of this
      definition, all liabilities, whether or not reflected on a balance sheet
      prepared in accordance with generally accepted accounting principles, and
      whether direct or indirect, fixed or contingent or secured or unsecured, (b)
      Buyer is able to pay its debts and obligations in the ordinary course as they
      mature, and (c) Buyer has capital sufficient to carry on the business, if any,
      in which it plans to engage after the Closing.

     

    5. Indemnification
      and Release.
      

     

    (a) Indemnification.
      Buyer
      covenants and agrees to indemnify, defend, protect and hold harmless Seller,
      and
      its officers, directors, employees, stockholders, agents, representatives and
      affiliates (collectively, together with Seller, the “Seller
      Indemnified Parties”)
      at all
      times from and after the date of this Agreement from and against all losses,
      liabilities, damages, claims, actions, suits, proceedings, demands, assessments,
      adjustments, costs and expenses (including specifically, but without limitation,
      reasonable attorneys’ fees and expenses of investigation), whether or not
      involving a third party claim and regardless of any negligence of any Seller
      Indemnified Party (collectively, “Losses”),
      incurred by any Seller Indemnified Party as a result of or arising from (i)
      any
      breach of the representations and warranties of Buyer set forth herein or in
      certificates delivered in connection herewith, (ii) any breach or nonfulfillment
      of any covenant or agreement on the part of Buyer under this Agreement, (iii)
      any debt, liability or obligation of the Company, (iv) any debt, liability
      or
      obligation of Seller for actions taken prior to that certain merger by and
      between Seller and G8Wave Acquisition Corp., a Delaware corporation (the
“Merger”),
      pursuant to that certain Agreement and Plan of Merger dated, August __, 2007
      (the “Merger
      Agreement”),
      (v)
      the conduct and operations of the business of the Company whether before or
      after Closing, (vi) claims asserted against the Company whether before or after
      Closing, (vii) any federal or state income tax payable by Seller and
      attributable to the transaction contemplated by this Agreement or activities
      prior to the Merger, or (viii) any inaccurate representation, or breach of
      any
      warranty or covenant contained in the Merger Agreement and attached hereto
      as
Exhibit
      A
      by
      Parent (as defined in the Merger Agreement) or Merger Sub (as defined in the
      Merger Agreement).

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    

     

    (b) Third
      Party Claims.

     

    (i) If
      any
      claim or liability (a “Third-Party
      Claim”)
      should
      be asserted against any of the Seller Indemnified Parties (the “Indemnitee”)
      by a
      third party after the Closing for which Buyer has an indemnification obligation
      under the terms of Section 5(a), then the Indemnitee shall notify Buyer (the
      “Indemnitor”)
      within
      20 days after the Third-Party Claim is asserted by a third party (said
      notification being referred to as a “Claim
      Notice”)
      and
      give the Indemnitor a reasonable opportunity to take part in any examination
      of
      the books and records of the Indemnitee relating to such Third-Party Claim
      and
      to assume the defense of such Third-Party Claim and in connection therewith
      and
      to conduct any proceedings or negotiations relating thereto and necessary or
      appropriate to defend the Indemnitee and/or settle the Third-Party Claim. The
      expenses (including reasonable attorneys’ fees) of all negotiations,
      proceedings, contests, lawsuits or settlements with respect to any Third-Party
      Claim shall be borne by the Indemnitor. If the Indemnitor agrees to assume
      the
      defense of any Third-Party Claim in writing within 20 days after the Claim
      Notice of such Third-Party Claim has been delivered, through counsel reasonably
      satisfactory to Indemnitee, then the Indemnitor shall be entitled to control
      the
      conduct of such defense, and any decision to settle such Third-Party Claim,
      and
      shall be responsible for any expenses of the Indemnitee in connection with
      the
      defense of such Third-Party Claim so long as the Indemnitor continues such
      defense until the final resolution of such Third-Party Claim. The Indemnitor
      shall be responsible for paying all settlements made or judgments entered with
      respect to any Third-Party Claim the defense of which has been assumed by the
      Indemnitor. Except as provided on subsection (b) below, both the Indemnitor
      and
      the Indemnitee must approve any settlement of a Third-Party Claim. A failure
      by
      the Indemnitee to timely give the Claim Notice shall not excuse Indemnitor
      from
      any indemnification liability except only to the extent that the Indemnitor
      is
      materially and adversely prejudiced by such failure.

     

    (ii) If
      the
      Indemnitor shall not agree to assume the defense of any Third-Party Claim in
      writing within 20 days after the Claim Notice of such Third-Party Claim has
      been
      delivered, or shall fail to continue such defense until the final resolution
      of
      such Third-Party Claim, then the Indemnitee may defend against such Third-Party
      Claim in such manner as it may deem appropriate and the Indemnitee may settle
      such Third-Party Claim, in its sole discretion, on such terms as it may deem
      appropriate. The Indemnitor shall promptly reimburse the Indemnitee for the
      amount of all settlement payments and expenses, legal and otherwise, incurred
      by
      the Indemnitee in connection with the defense or settlement of such Third-Party
      Claim. If no settlement of such Third-Party Claim is made, then the Indemnitor
      shall satisfy any judgment rendered with respect to such Third-Party Claim
      before the Indemnitee is required to do so, and pay all expenses, legal or
      otherwise, incurred by the Indemnitee in the defense against such Third-Party
      Claim.

     

    (c) Non-Third-Party
      Claims.
      Upon
      discovery of any claim for which Buyer has an indemnification obligation under
      the terms of this Section 5 which does not involve a claim by a third party
      against the Indemnitee, the Indemnitee shall give prompt notice to Buyer of
      such
      claim and, in any case, shall give Buyer such notice within 30 days of such
      discovery. A failure by Indemnitee to timely give the foregoing notice to Buyer
      shall not excuse Buyer from any indemnification liability except to the extent
      that Buyer is materially and adversely prejudiced by such failure.

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    

     

    (d) Release.
      Buyer,
      on behalf of Buyer and Buyer’s Related Parties, hereby releases and forever
      discharges Seller and its individual, joint or mutual, past and present
      representatives, Affiliates, officers, directors, employees, agents, attorneys,
      stockholders, controlling persons, subsidiaries, successors and assigns
      (individually, a “Releasee”
and
      collectively, “Releasees”)
      from
      any and all claims, demands, proceedings, causes of action, orders, obligations,
      contracts, agreements, debts and liabilities whatsoever, whether known or
      unknown, suspected or unsuspected, both at law and in equity, which Buyer or
      any
      of Buyer’s Related Parties now have or have ever had against Releasees. Buyer
      hereby irrevocably covenants to refrain from, directly or indirectly, asserting
      any claim or demand, or commencing, instituting or causing to be commenced,
      any
      proceeding of any kind against any Releasee, based upon any matter released
      hereby. “Related
      Parties”
shall
      mean, with respect to Buyer, (i) any Person that directly or indirectly
      controls, is directly or indirectly controlled by, or is directly or indirectly
      under common control with Buyer, (ii) any Person in which Buyer holds a Material
      Interest or (iii) any Person with respect to which Buyer serves as a general
      partner or a trustee (or in a similar capacity). For purposes of this
      definition, “Material
      Interest”
shall
      mean direct or indirect beneficial ownership (as defined in Rule 13d-3 under
      the
      Securities Exchange Act of 1934, as amended) of voting securities or other
      voting interests representing at least ten percent (10%) of the outstanding
      voting power of a Person or equity securities or other equity interests
      representing at least ten percent (10%) of the outstanding equity securities
      or
      equity interests in a Person.

     

    6. Definitions.
      As used
      in this Agreement:

     

    (a) “Affiliate”
means,
      with respect to any Person, any other Person directly or indirectly controlling,
      controlled by or under common control with the first Person. For the purposes
      of
      this definition, “Control,”
when
      used with respect to any Person, means the possession, directly or indirectly,
      of the power to (i) vote 10% or more of the securities having ordinary voting
      power for the election of directors (or comparable positions) of such Person
      or
      (ii) direct or cause the direction of the management and policies of such
      Person, whether through the ownership of voting securities, by contract or
      otherwise, and the terms “Controlling”
and
      “Controlled”
have
      meanings correlative to the foregoing;

     

    (b) “Governmental
      Authority”
means
      any domestic or foreign governmental or regulatory authority;

     

    (c) “Law”
means
      any federal, state or local statute, law, rule, regulation, ordinance, code,
      Permit, license, policy or rule of common law;

     

    (d) “Lien”
means,
      with respect to any property or asset, any mortgage, lien, pledge, charge,
      security interest, encumbrance or other adverse claim of any kind in respect
      of
      such property or asset. For purposes of this Agreement, a Person will be deemed
      to own, subject to a Lien, any property or asset which it has acquired or holds
      subject to the interest of a vendor or lessor under any conditional sale
      agreement, capital lease or other title retention agreement relating to such
      property or asset;

     

    (e) “Order”
means
      any judgment, injunction, judicial or administrative order or
      decree;

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

    

     

    (f) “Permit”
means
      any government or regulatory license, authorization, permit, franchise, consent
      or approval; and

     

    (h) “Person”
means
      an individual, corporation, partnership, limited liability company, association,
      trust or other entity or organization, including a government or political
      subdivision or an agency or instrumentality thereof.

     

    7. Miscellaneous.

     

    (a) Counterparts.
      This
      Agreement may be signed in any number of counterparts, and delivered by
      facsimile or other electronic means, each of which will be deemed an original
      but all of which together shall constitute one and the same
      instrument.

     

    (b) Amendments
      and Waivers.
      

     

    (i) Any
      provision of this Agreement may be amended or waived if, but only if, such
      amendment or waiver is in writing and is signed, in the case of an amendment,
      by
      each party to this Agreement, or in the case of a waiver, by the party against
      whom the waiver is to be effective.

     

    (ii) No
      failure or delay by any party in exercising any right, power or privilege
      hereunder will operate as a waiver thereof nor will any single or partial
      exercise thereof preclude any other or further exercise thereof or the exercise
      of any other right, power or privilege. The rights and remedies herein provided
      will be cumulative and not exclusive of any rights or remedies provided by
      Law.

     

    (c) Successors
      and Assigns.
      The
      provisions of this Agreement will be binding upon and inure to the benefit
      of
      the parties hereto and their respective successors and assigns; provided
      that no
      party may assign, delegate or otherwise transfer (including by operation of
      Law)
      any of its rights or obligations under this Agreement without the consent of
      each other party hereto.

     

    (d) No
      Third Party Beneficiaries.
      This
      Agreement is for the sole benefit of the parties hereto and their permitted
      successors and assigns and nothing herein expressed or implied will give or
      be
      construed to give to any Person, other than the parties hereto, those referenced
      in Section 5 above, and such permitted successors and assigns, any legal or
      equitable rights hereunder.

     

    (e) Governing
      Law.
      This
      Agreement will be governed by, and construed in accordance with, the internal
      substantive law of the State of Delaware.

     

    (f) Headings.
      The
      headings in this Agreement are for convenience of reference only and will not
      control or affect the meaning or construction of any provisions
      hereof.

     

    (g) Entire
      Agreement.
      This
      Agreement constitutes the entire agreement among the parties with respect to
      the
      subject matter of this Agreement. This Agreement supersedes all prior agreements
      and understandings, both oral and written, between the parties with respect
      to
      the subject matter hereof of this Agreement.

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    

     

    (h) Severability.
      If any
      provision of this Agreement or the application of any such provision to any
      Person or circumstance is held invalid, illegal or unenforceable in any respect
      by a court of competent jurisdiction, the remainder of the provisions of this
      Agreement (or the application of such provision in other jurisdictions or to
      Persons or circumstances other than those to which it was held invalid, illegal
      or unenforceable) will in no way be affected, impaired or invalidated, and
      to
      the extent permitted by applicable Law, any such provision will be restricted
      in
      applicability or reformed to the minimum extent required for such provision
      to
      be enforceable. This provision will be interpreted and enforced to give effect
      to the original written intent of the parties prior to the determination of
      such
      invalidity or unenforceability.

     

    [Signature
      Page Follows]

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

    [SIGNATURE
      PAGE TO STOCK PURCHASE AGREEMENT]

     

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed and delivered, effective as of the date first above
      written.

     

    
      	 	
              INTERNATIONAL
                FOOD AND WINE CONSULTANTS, INC.

            
	 	 	 
	 	 	 
	 	
              By:

            	
               
                /s/ Habib Khoury

            
	 	 	
              Name:
                Habib Khoury

            
	 	 	
              Title:
                Chief Executive Officer 

            
	 	 	 
	 	 	 
	 	
               
                /s/ Mary Beth Clark

            
	 	
              Mary
                Beth Clark

            

    

    

     

    

    

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    3.1 Organization
      and Qualification.
      Each of
      Parent and Merger Sub is a corporation duly organized, validly existing and
      in
      good standing under the laws of Delaware, and is qualified to do business and
      in
      good standing as a foreign corporation in each jurisdiction where the properties
      owned, leased or operated, or the business conducted by it require such
      qualification, and each has the requisite corporate power and authority to
      own
      and operate its assets and properties and to carry on its business as it is
      now
      being conducted. Each of Parent and Merger Sub is in possession of all
Approvals
      necessary
      to carry on its business as it is now being conducted, except where the failure
      to have such Approvals has not had, and would not, individually or in the
      aggregate, reasonably be expected to have a Material Adverse Effect on Parent
      or
      Merger Sub. Merger Sub is a wholly-owned Delaware subsidiary of Parent that
      was
      formed specifically for the purpose of the Merger and that has not conducted
      any
      business or acquired any property and does not have any material Liabilities,
      and will not conduct any business or acquire any property or material
      Liabilities prior to the Closing Date, except in preparation for and otherwise
      in connection with the transactions contemplated by this Agreement, the
      Certificate of Merger and the other agreements to be made pursuant to or in
      connection with this Agreement and the Certificate of Merger.

     

    3.2 Certificate
      of Incorporation and Bylaws.
      

     

    (a) Parent.
      The
      Certificate of Incorporation and Bylaws filed by Parent with the SEC on August
      10, 2007, are currently in effect and have not been amended, modified or
      rescinded (collectively, the “Parent
      Charter Documents”).
      Parent is not in violation of any provision of the Parent Charter
      Documents.

     

    (b) Merger
      Sub.
      The
      Merger Sub Certificate and Merger Sub Bylaws (the “Merger
      Sub Charter Documents”)
      are in
      full force and effect and have not been amended, modified, or rescinded. Merger
      Sub is not in violation of any of the provisions of the Merger Sub Charter
      Documents.

     

    3.3 Subsidiaries.
      Other
      than Merger Sub and IFWC Holdings, Inc., Parent does not own, directly or
      indirectly, any equity or other interest in any other Person. Merger Sub does
      not own, directly or indirectly, any equity or other interest in any other
      Person.

     

    3.4 Capitalization.
      

     

    (a) Parent.
      Parent’s authorized capitalization consists of the following: (i) 90,000,000
      shares of Parent Common Stock, of which 29,363,200 are issued and outstanding
      and were validly issued, fully paid, and non-assessable, (ii) 10,000,000 shares
      of Parent Preferred Stock, none of which are issued and outstanding, and (iii)
      4,404,480 shares of Parent Common Stock have been reserved for issuance under
      Parent’s 2006 Non-Statutory Stock Option Plan, under which Parent has not issued
      any options or other grants. There are no declared or accrued but unpaid
      dividends with respect to any shares of Parent Common Stock or other capital
      stock of Parent. There are no subscriptions, options, warrants, equity
      securities, ownership interests, calls, rights (including preemptive rights),
      commitments or agreements of any character to which Parent is a party, or by
      which Parent is bound that would obligate Parent to issue, deliver or sell,
      or
      cause to be issued, delivered or sold, or repurchase, redeem or otherwise
      acquire any shares of capital stock or ownership interests of
      Parent.

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

    

     

    (b) Merger
      Sub Capital.
      Merger
      Sub’s authorized capitalization consists of 1,000 shares of Common Stock
      (“Merger
      Sub Common Stock”),
      par
      value $0.001 per share, all of which are owned by Parent free and clear of
      any
      and all Encumbrances. There are no declared or accrued but unpaid dividends
      with
      respect to any shares of Merger Sub Common Stock. There are no subscriptions,
      options, warrants, equity securities, ownership interests, calls, rights
      (including preemptive rights), commitments or agreements of any character to
      which Merger Sub is a party, or by which Merger Sub is bound that would obligate
      Merger Sub to issue, deliver or sell, or cause to be issued, delivered or sold,
      or repurchase, redeem or otherwise acquire any shares of capital stock or
      ownership interests of Merger Sub.

     

    3.5 Authority
      Relative to this Agreement.
      Each of
      Parent and Merger Sub has all necessary corporate power and authority to execute
      and deliver this Agreement and each Related Agreement to which it is a party,
      to
      perform its obligations hereunder and thereunder, and to consummate the
      Transactions. The execution and delivery of this Agreement and each Related
      Agreement by Parent and Merger Sub and the consummation by Parent and Merger
      Sub
      of the Transactions have been duly and validly authorized by all necessary
      corporate action on the part of Parent and Merger Sub and no other corporate
      proceedings on the part of Parent or Merger Sub are necessary to authorize
      the
      execution of this Agreement, each Related Agreement, or to consummate the
      Transactions other than the filing of the Certificate of Merger as required
      by
      DGCL. This
      Agreement has been, and each Related Agreement will be, duly and validly
      executed and delivered by Parent and Merger Sub and, assuming they constitute
      valid and binding obligations of the counterparties thereto, constitute valid
      and binding agreements of Parent and Merger Sub, enforceable against them in
      accordance with their terms (except in all cases as such enforceability may
      be
      limited by applicable bankruptcy, insolvency, reorganization, moratorium, or
      similar laws affecting the enforcement of creditor’s rights generally and except
      that the availability of the equitable remedy of specific performance or
      injunctive relief is subject to the discretion of any court before which any
      proceeding may be brought).

     

    3.6 No
      Encumbrance or Conflict; Governmental Approvals.

     

    (a) No
      Encumbrance.
      The
      execution and delivery of this Agreement and each Related Agreement by Parent
      and Merger Sub will not, and the performance of this Agreement and each Related
      Agreement by Parent and Merger Sub will not, (i) result in the creation of
      any
      material Encumbrance on any of the material properties or assets of Parent
      or
      Merger Sub, (ii) conflict with or violate the Parent Charter Documents or Merger
      Sub Charter Documents, (iii) conflict with or violate in any material respect
      any law applicable to Parent or Merger Sub or by which either of them or any
      of
      their respective properties is bound, or (iv) conflict with or violate, or
      result in any breach of or constitute a default under, or materially impair
      Parent’s or Merger Sub’s rights, or alter the rights or obligations of any third
      party under, or give to others any rights of termination, amendment,
      acceleration or cancellation of, any Contract to which Parent or Merger Sub
      is a
      party or by which Parent or Merger Sub or either of them or any of their
      respective properties are bound, except to the extent such conflict, violation,
      breach, default, impairment or other effect would not reasonably be expected
      to
      have a Material Adverse Effect on Parent or Merger Sub. 

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

    

     

    (b) Governmental
      Approvals.
      The
      execution and delivery of this Agreement and each Related Agreement by Parent
      and Merger Sub do not, and the performance of this Agreement and each Related
      Agreement by Parent and Merger Sub will not, require any consent, approval,
      authorization or permit of, or filing with or notification to, any Governmental
      Entity, except (i) for applicable requirements, if any, of the Securities Act,
      Exchange Act, applicable state securities laws, and the filing and recordation
      of the Certificate of Merger as required by the DGCL and (ii) where the failure
      to obtain such consents, approvals, authorizations or permits, or to make such
      filings or notifications, would not, individually or in the aggregate,
      reasonably be expected to have a Material Adverse Effect on Parent or Merger
      Sub.

     

    3.7 SEC
      Filings; Financial Statements.
      

     

    (a) Parent
      has timely filed or furnished, as applicable, with the Securities and Exchange
      Commission (the “SEC”)
      each
      report, registration statement and definitive proxy statement required to be
      filed by Parent with the SEC during the course of its existence (collectively,
      the “Parent
      SEC Documents”).
      Each
      of the Parent SEC Documents complied in all material respects with the
      applicable requirements of the Securities Act or the Exchange Act (as the case
      may be), and none of the Parent SEC Documents at the time of filing contained
      any untrue statement of a material fact or omitted to state a material fact
      required to be stated therein or necessary in order to make the statements
      therein, in light of the circumstances under which they were made, not
      misleading. The consolidated financial statements contained in the Parent SEC
      Documents: (i) complied as to form in all material respects with the then
      applicable accounting requirements and with the published rules and regulations
      of the SEC applicable thereto; (ii) were prepared in accordance with GAAP
      throughout the periods covered, except as may be indicated in the notes to
      such
      financial statements and (in the case of unaudited statements) as permitted
      by
      applicable rules of the SEC; and (iii) fairly presented the consolidated
      financial position of Parent and its subsidiaries as of the respective dates
      thereof and the consolidated results of operations of Parent and its
      subsidiaries for the periods covered thereby.

     

    3.8 No
      Undisclosed Liabilities.
      Parent
      does not have any Liabilities of a nature required to be disclosed on a balance
      sheet or in the related notes to the consolidated financial statements prepared
      in accordance with GAAP and which are, individually or in the aggregate with
      such other items, material to the business, assets, financial condition, results
      of operations or cash flows of Parent and Merger Sub, taken as a whole, except
      (a) Liabilities reflected in the balance sheet of Parent included in its most
      recently filed Quarterly Report on Form 10-QSB (the “Parent Balance
      Sheet”),
      (b)
      current Liabilities incurred since the date of such balance sheet in the
      ordinary course of business consistent with past practices and which,
      individually or in the aggregate, are not material in nature or amount and
      do
      not result from Parent’s or Merger Sub’s breach of any Contract, tort or
      violation of any legal requirement, or (c) Liabilities incurred in connection
      with the Transactions. Merger Sub does not have any Liabilities other than
      those
      arising under this Agreement.

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

    

     

    3.9 Absence
      of Certain Changes or Events.
      Since
      the date of the Parent Balance Sheet, there has not been, occurred or arisen:
      (a) any event or condition of any character that has had, or is reasonably
      expected to have, a Material Adverse Effect on Parent or Merger Sub; (b) any
      declaration, setting aside or payment of any dividend on, or other distribution
      (whether in cash, stock or property) in respect of, any of Parent’s or Merger
      Sub’s capital stock; (c) any split, combination or reclassification of any of
      Parent or Merger Sub’s capital stock; (d) any granting by Parent or Merger Sub
      of any increase in compensation or fringe benefits to any employee or any
      payment by Parent or Merger Sub of any bonus; (e) any change by Parent or Merger
      Sub in its accounting methods, principles or practices; (f) any revaluation
      by
      Parent or Merger Sub of any of its assets, including writing down the value
      of
      capitalized inventory or writing off notes or accounts receivable or any sale
      of
      assets of Parent or Merger Sub other than in the ordinary course of business
      consistent with past practice; (g) any incurrence, creation or assumption of
      any
      material Encumbrance, (h) any acquisition, sale or transfer of any asset; or
      (i)
      the entry by into any Contract or any amendment or termination of, or default
      under, any Contract. Parent has not agreed since the Balance Sheet Date to
      do
      any of the things described in the foregoing and is not currently involved
      in
      any negotiations or discussions to do any of the things so described (other
      than
      the transactions contemplated by this Agreement).

     

    3.10 Absence
      of Litigation.
      There
      are no Actions pending or, to the knowledge of Parent or Merger Sub, threatened
      against Parent or Merger Sub, or any of their respective properties or, to
      Parent or Merger Sub’s knowledge, any of the executive officers or directors of
      Parent or Merger Sub before any Governmental Entity or otherwise. No
      investigation or review by any Governmental Entity is pending or, to the
      knowledge of Parent or Merger Sub, threatened against Parent or Merger Sub,
      or
      any of their respective properties or to Parent or Merger Sub’s knowledge any of
      the executive officers or directors of Parent or Merger Sub, nor has any
      Governmental Entity indicated to Parent or Merger Sub an intention to conduct
      the same. To the knowledge of Parent or Merger Sub, no Governmental Entity
      has
      at any time challenged or questioned the legal right of Parent or Merger Sub
      to
      conduct its operations as presently or previously conducted. There are currently
      no internal investigations or inquiries being conducted by the board of
      directors of either Parent or Merger Sub (or any committee thereof) or any
      third
      Party at the request of the either Parent or Merger Sub’s respective board of
      directors, or any Action with respect to, any financial, accounting, auditing,
      tax, conflict of interest, illegal activity, fraudulent or deceptive conduct
      issues with respect to Parent or Merger Sub.

     

    3.11 Compliance
      with Laws.
      Both
      Parent and Merger Sub are in compliance in all material respects with all
      applicable foreign, federal, state and local laws, rules, regulations and
      ordinances. 

     

    3.12 ERISA.
      Neither
      Parent nor Merger Sub has ever had, or currently has, any plan, contract, or
      other arrangement that is subject to the Employee Retirement Income Security
      Act
      of 1974, as amended, and the regulations thereunder (“ERISA”).

     

    3.13 Tax
      Returns and Audits.

     

    (a) Each
      of
      Parent and Merger Sub has timely filed all Returns relating to Taxes required
      to
      be filed with any Tax authority. Each of Parent and Merger Sub has paid all
      Taxes shown to be due on such Returns. All Returns were complete and accurate
      in
      all material respects and have been prepared in all material respects in
      compliance with all applicable laws. 

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

    

     

    (b) Neither
      Parent or Merger Sub has been delinquent in the payment of any material Tax
      nor
      is there any material Tax deficiency outstanding, proposed or assessed against
      either of them, nor has either of them executed any unexpired waiver of any
      statute of limitations on or extension of any the period for the assessment
      or
      collection of any Tax.

     

    (c) No
      audit,
      or pending audit of, or other examination of any Return of Parent of Merger
      Sub
      by, any Tax authority is presently in progress, nor has either of them been
      notified in writing of any request for such an audit or other
      examination.

     

    (d) No
      unresolved adjustment relating to any Returns filed or required to be filed
      by
      Parent or Merger Sub has been proposed in writing, formally or informally,
      by
      any Tax authority Parent or Merger Sub to or any representative
      thereof.

     

    (e) Each
      of
      Parent and Merger Sub has withheld and reported all amounts required by law
      or
      by agreement to be withheld and reported with respect to wages, benefits,
      salaries and other payments to its employees and contractors.

     

    3.14 Assets
      and Contracts.
      Neither
      Parent nor Merger Sub is a party to any written or oral agreement. Neither
      Parent nor Merger Sub owns any real or intellectual property. Neither Parent
      nor
      Merger Sub is a party to or otherwise barred by any written or oral Contract.
      Neither Parent nor Merger Sub maintains any insurance policies or insurance
      coverage of any kind with respect to its business, premises, properties, assets,
      employees and agents. No consent of any bank or other depository is required
      to
      maintain any bank account, other deposit relationship or safety deposit box
      of
      Parent in effect following the consummation of the Merger and the transactions
      contemplated hereby.

     

    3.15 Brokers
      and Finders.
      No
      Person is entitled by reason of any act or omission of Parent or Merger Sub
      to
      any broker’s or finder’s fees, commission or other similar compensation with
      respect to the execution and delivery of this Agreement or the Certificate
      of
      Merger, or with respect to the consummation of the Transactions. 

     

    3.16 Interested
      Party Transactions.
      No
      officer, director or stockholder of Parent or any affiliate or “associate” (as
      such term is defined in Rule 405 under the Securities Act) of any such Person
      or
      Parent has or has had, either directly or indirectly, (a) an interest in any
      Person that (i) furnishes or sells services or products that are furnished
      or
      sold or are proposed to be furnished or sold by the Parent or (ii) purchases
      from or sells or furnishes to the Parent any goods or services, or (b) a
      beneficial interest in any contract or agreement to which the Parent is a party
      or by which it may be bound or affected.
      Parent
      is not indebted to any of its directors or officers (except for amounts due
      as
      normal salaries and bonuses and in reimbursement of ordinary expenses), no
      such
      Person is indebted to Parent, and there are no other transactions of the type
      required to be disclosed pursuant to Items 402 and 404 of Regulation S-K under
      the Securities Act and/or the Exchange Act.
      Parent
      has no liability or obligation or commitment to any stockholder of Parent or
      any
      affiliate or “associate” (as such term is defined in Rule 405 under the
      Securities Act) of any stockholder of Parent, nor does any stockholder of Parent
      or any such affiliate or associate have any liability, obligation or commitment
      to the Parent.

     

    
      
        
        

      

      
        -14-

        
          

        

      

      
        
        

      

    

    

     

    3.17 Certain
      Agreements Affected by the Merger.
      Neither
      the execution and delivery of this Agreement nor the consummation of the
      Transactions will (i) result in any payment (including, without limitation,
      severance, unemployment compensation, golden parachute, bonus or otherwise)
      becoming due to any director, officer, consultant or employee of Parent or
      Merger Sub, (ii) increase any benefits otherwise payable by Parent or Merger
      Sub
      to any Person, or result in the acceleration of the time of payment or vesting
      of any such benefits, or (iii) result in any other detriment or require any
      other payment under the terms, conditions or provisions of any Contract, in
      any
      case, to which Parent or Merger Sub is a Party or by which it or any of its
      properties or assets may be bound.

     

    3.18 No
      Infringement.
      Neither
      Parent nor Merger Sub is, nor has it been, a Party to any proceeding involving
      a
      claim of infringement, misappropriation or other wrongful use or exploitation
      by
      it of any other Person’s intellectual property rights and to Parent’s and Merger
      Sub’s knowledge, neither has taken any act or omitted to take any act that could
      give rise to any Action for such infringement, misappropriation, or wrongful
      use
      or exploitation. 

     

    3.19 Environmental
      Matters.
      Neither
      Parent nor Merger Sub has any liability under, or is reasonably likely to have
      any liability under, any state or federal environmental law, other than such
      liabilities which would not have a Material Adverse Effect on Parent or Merger
      Sub.

     

    3.20 Minute
      Books.
      The
      minute books of Parent and Merger Sub that are delivered at the Closing contain
      a complete and accurate summary of all meetings of directors, including
      committees of the board of directors, and stockholders or actions by written
      consent since the time of incorporation of Parent and Merger Sub through the
      Effective Time, and reflect all transactions referred to in such minutes
      accurately in all material respects. 

     

    3.21 Board
      Approval.
      The
      Board of Directors of each of Parent and Merger Sub has approved this Agreement
      and the Transactions, has submitted the same to their respective stockholders
      for approval, and has recommended that such stockholders approve this Agreement
      and the Transactions contemplated hereby.

     

    3.22 State
      Anti-Takeover Statutes.
      No
      state takeover statute is applicable to the Merger, this Agreement or the
      transactions contemplated hereby.

     

    3.23 Representations
      Complete.
      None of
      the representations or warranties made by Parent or Merger Sub herein or in
      any
      document referenced herein or in any schedule hereto or thereto, or certificate
      furnished pursuant to this Agreement, when all such documents are read together
      in their entirety, contains or will contain at the Effective Time any untrue
      statement of a material fact, or omits or will omit at the Effective Time to
      state any material fact necessary in order to make the statements contained
      herein or therein, in the light of the circumstances under which made, not
      misleading.

     

    
      
        
        

      

      
        -15-THE
      SECURITIES REPRESENTED BY THIS WARRANT HAVE BEEN ACQUIRED FOR INVESTMENT AND
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
      STATE SECURITIES LAWS. NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN
      COMPLIANCE WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT
      RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER THAT SUCH REGISTRATION
      IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO ACTION LETTER FROM THE
      SECURITIES AND EXCHANGE COMMISSION.

     

    WARRANT
      TO PURCHASE

    COMMON
      STOCK OF 

    G8WAVE,
      INC.

    

    August
      1,
      2006

    

    

     

    This
      certifies that Todd Duboef (the “Holder”),
      for
      value received, is entitled to purchase from G8Wave, Inc., a Delaware
      corporation (the “Company”),
      at a
      per Warrant Share exercise price (the “Exercise
      Price”)
      equal
      to $0.10, up to 166,725 fully paid and nonassessable shares of the Company’s
      Common Stock (the “Warrant
      Shares”),
      subject to the terms and conditions set forth in this Warrant.

     

    This
      Warrant shall be exercisable at any time and from time to time during the period
      beginning on the date hereof and ending and including 5:00 p.m. (Pacific Time)
      on August 1, 2009 (the “Exercise
      Period”)
      upon
      surrender to the Company at its principal office (or at such other location
      as
      the Company may advise the Holder in writing) of this Warrant properly endorsed
      with (i) the Form of Subscription attached hereto duly completed and executed,
      and (ii) payment pursuant to Section
      2 of
      the
      aggregate Exercise Price for the number of Warrant Shares for which this Warrant
      is being exercised, determined in accordance with the provisions hereof. The
      Exercise Price and the number of Warrant Shares purchasable hereunder are
      subject to adjustment as provided in Section
      4
      of this
      Warrant. 

     

    1. Exercise;
      Issuance of Certificates; Acknowledgement.
      This
      Warrant is exercisable at the option of the Holder, at any time and from time
      to
      time during the Exercise Period, for all or any part of the Warrant Shares
      (but
      not for a fraction of a share) which may be purchased hereunder. The Company
      agrees that the shares of Common Stock purchased under this Warrant shall be,
      and are deemed to be, issued to the Holder hereof as the record owner of such
      shares as of the close of business on the date on which (a) this Warrant shall
      have been surrendered to the Company, properly endorsed, (b) the completed,
      executed Form of Subscription has been delivered to the Company, and (c) payment
      has been made to the Company for such shares. Certificates for the shares of
      the
      Common Stock so purchased shall be registered in the name of the Holder and
      delivered to the Holder by the Company within a reasonable time after the rights
      represented by this Warrant have been so exercised. In case of a purchase of
      less than all the Warrant Shares, the Company shall execute and deliver to
      the
      Holder, within a reasonable time, a new warrant of like tenor and on like terms
      as this Warrant, representing the number of Warrant Shares that remain
      purchasable by the Holder, if any.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    2. Payment
      for Shares.
      The
      aggregate purchase price for the Warrant Shares being purchased hereunder may
      be
      paid either (a) by cash or wire transfer of immediately available funds, or
      (b) by surrender of a number of Warrant Shares having a fair market value
      equal to the aggregate purchase price of the Warrant Shares being purchased
      (“Net
      Issuance”),
      as
      determined herein. If the Holder elects the Net Issuance method of payment,
      the
      Company shall issue to Holder a number of Warrant Shares determined in
      accordance with the following formula:

     

    
      	
              X =

            	
              Y(A-B)

            
	
              A

            

    

    

    
      	
              where: X =

            	 	
              the
                number of Warrant Shares to be issued to the Holder;

            
	
            	 	 
	
              Y =
                

            	 	
              the
                number of Warrant Shares with respect to which the Holder is exercising
                its purchase rights under this Warrant;

            
	
            	 	
               

            
	
              A =
                

            	 	
              the
                fair market value of one (1) Warrant Share on the date of exercise;
                and

            
	
            	 	 
	
              B =

            	 	
              the
                Exercise Price.

            

    

     

    No
      fractional shares arising out of the above formula for determining the number
      of
      Warrant Shares to be issued to the Holder shall be issued, and the Company
      shall
      in lieu thereof make payment to the Holder of cash in the amount of such
      fraction multiplied by the fair market value of one (1) Warrant Share on the
      date of exercise. For purposes of the above calculation, the fair market value
      of one (1) Warrant Share shall mean the fair market value thereof as determined
      in good faith by the Board of Directors of the Company.

     

    3. Shares
      to be Fully Paid; Reservation of Shares.
      The
      Company covenants and agrees that all shares issued upon the exercise of this
      Warrant will, upon issuance, be duly authorized, validly issued, fully paid
      and
      nonassessable. The Company further covenants and agrees that during the Exercise
      Period, the Company will at all times have authorized and reserved, for the
      purpose of issue or transfer upon exercise of this Warrant, a sufficient number
      of shares of authorized but unissued shares of Common Stock, or other securities
      and property, when and as required to provide for the exercise of the rights
      represented by this Warrant. 

     

    4. Adjustment
      of Stock Purchase Price and Number of Shares.
      The
      Exercise Price and the number of shares purchasable upon the exercise of this
      Warrant shall be subject to adjustment from time to time upon the occurrence
      of
      certain events described in this Section
      4.
      Upon
      each adjustment of the Exercise Price, the Holder shall thereafter be entitled
      to purchase, at the Exercise Price resulting from such adjustment, the number
      of
      shares obtained by multiplying the Exercise Price in effect immediately prior
      to
      such adjustment by the number of Warrant Shares purchasable pursuant hereto
      immediately prior to such adjustment, and dividing the product thereof by the
      Exercise Price resulting from such adjustment. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (a) Subdivision
      or Combination of Stock.
      In case
      the Company shall at any time subdivide its outstanding shares of Common Stock
      into a greater number of shares, the Exercise Price in effect immediately prior
      to such subdivision shall be proportionately reduced, and conversely, in case
      the outstanding shares of the Common Stock of the Company shall be combined
      into
      a smaller number of shares, the Exercise Price in effect immediately prior
      to
      such combination shall be proportionately increased.

     

    (b) Reclassification.
      If any
      reclassification of the capital stock of the Company shall be effected in such
      a
      way that holders of Common Stock shall be entitled to receive stock, securities,
      or other assets or property, then, as a condition of such reclassification,
      lawful and adequate provisions shall be made whereby the Holder shall thereafter
      have the right to purchase and receive (in lieu of the shares of the Common
      Stock immediately theretofore purchasable and receivable upon the exercise
      of
      the rights represented hereby) such shares of stock, securities or other assets
      or property as may be issued or payable with respect to or in exchange for
      a
      number of outstanding shares of such Common Stock equal to the number of shares
      of such Common Stock immediately theretofore purchasable and receivable upon
      the
      exercise of the rights represented hereby. In any reclassification described
      above, appropriate provision shall be made with respect to the rights and
      interests of the Holder of this Warrant to the end that the provisions hereof
      (including, without limitation, provisions for adjustments of the Exercise
      Price
      and of the number of shares purchasable and receivable upon the exercise of
      this
      Warrant) shall thereafter be applicable, as nearly as may be, in relation to
      any
      shares of stock, securities or assets thereafter deliverable upon the exercise
      hereof. 

     

    5. Piggyback
      Registration Rights. 

     

    (a) If
      the
      Company proposes to register any shares of its Common Stock (“Registrable
      Securities”)
      for
      its own account or for the account of one or more of its stockholders, the
      Company shall, subject to the provisions of this Section
      5,
      grant
      the Holder the opportunity to register the Warrant Shares in such registration
      (the “Registration
      Right”)
      by
      giving the Holder written notice of such proposed registration (the
“Notice”).
      If
      the Holder desires to participate in such registration, the Holder shall, within
      ten (10) days after the date of the Notice, deliver written notice thereof
      to
      the Company (the “Holder’s
      Notice”).
      The
      Holder’s Notice shall also set forth the number of Warrant Shares that the
      Holder desires to be registered. The Company shall use commercially reasonable
      efforts to cause to be registered all of the Warrant Shares that the Holder
      has
      requested to be registered in a Shareholder’s Notice delivered in accordance
      with this Section
      5.

     

    (b) Notwithstanding
      anything to the contrary set forth in this Warrant, the Registration Right
      shall
      not apply to, and the Company shall have no obligation to register Warrant
      Shares in connection with, any registration (i) on Form S-4 or Form S-8 or
      any
      successor forms thereto, (ii) for the sole purpose of a corporate
      reorganization, (iii) in which the only stock being registered is Common Stock
      issuable upon conversion of debt securities that are also being registered,
      or
      (iv) on any form which does not include substantially the same information
      as
      would be required to be included in a registration statement covering the sale
      of the Registrable Securities. In addition, the Registration Right shall only
      apply to Warrant Shares that have been exercised pursuant to the terms of this
      Warrant, and the Company shall have no obligation to register any Warrant Shares
      that have not been so exercised. Finally, if the Company or its managing
      underwriter determines in good faith that marketing factors require a limitation
      of the number of shares to be registered, then the Company or the managing
      underwriter may reduce (to zero if necessary) the number of Warrant Shares
      to be
      included in the registration. 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (c) It
      shall
      be a condition precedent to the obligations of the Company to register any
      Warrant Shares pursuant to this Section 5
      that the
      Holder furnish to the Company such information regarding the Holder, the Warrant
      Shares, and the intended method of disposition of such Warrant Shares, as shall
      be reasonably required to effect the registration of the Warrant
      Shares.

     

    (d) In
      connection with the registration of Registrable Securities and upon the request
      of the Company, the Holder agrees not to sell, make any short sale of, loan,
      grant any option for the purchase of, or otherwise dispose of any securities
      of
      the Company, however or whenever acquired, without the prior written consent of
      Company, as the case may be, for such period of time (not to exceed 180 days)
      from the effective date of such registration, as may be requested by the
      Company, and to execute an agreement reflecting the foregoing as may be
      requested by the Company at the time of such offering.

     

    (e) The
      Registration Right shall terminate and have no further force upon the first
      to
      occur of (i) a Change of Control (as defined below) or (ii) the date on which
      Warrant Shares can be sold pursuant to Rule 144 promulgated under the Securities
      Act. As used herein, the term “Change
      of Control”
means
      any transaction or series of related transactions pursuant to which the Company
      (A) sells, conveys, or otherwise disposes of all or substantially all of its
      property or business, (B) merges with or into or consolidates with any other
      unaffiliated person, or (C) effects any other transaction or series of related
      transactions in which the stockholders of Company immediately prior to such
      transaction or series of related transactions do not hold more than fifty
      percent (50%) of the voting power of Company immediately after such transaction
      or series of related transaction; provided,
      that
      this Warrant shall not be terminated following a merger effected solely for
      the
      purpose of changing the domicile of Company.

     

    6. Warrants
      Not Transferable Without Prior Consent.
      Neither
      this Warrant nor any right hereunder may be transferred, in whole or in part,
      without the prior written consent of the Company. 

     

    7. Lost
      Warrants.
      Upon
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction, or mutilation of this Warrant and, in the case of any such loss,
      theft or destruction, upon receipt of an indemnity reasonably satisfactory
      to
      the Company, or in the case of any such mutilation upon surrender and
      cancellation of such Warrant, the Company will make and deliver a new Warrant,
      of like tenor and on like terms, in lieu of the lost, stolen, destroyed or
      mutilated Warrant.

     

    8. Modification
      and Waiver.
      Any
      term of this Warrant may be amended and the observance of any term of this
      Warrant may be waived only with the written consent of the Company and the
      Holder. 

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    9. Titles
      and Subtitles; Governing Law.
      The
      titles and subtitles used in this Warrant are used for convenience only and
      are
      not to be considered in construing or interpreting this Agreement. This Warrant
      is to be construed in accordance with and governed by the internal laws of
      the
      State of Delaware without giving effect to any choice of law rule that would
      cause the application of the laws of any jurisdiction other than the internal
      laws of the State of Delaware to the rights and duties of the Company and the
      Holder. 

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK - SIGNATURE PAGE FOLLOWS]

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Company and the Holder have caused this Warrant to be
      duly
      executed by its officers, thereunto duly authorized as of the date first above
      written.

     

    
      	
              COMPANY:

            
	 
	
              G8WAVE,
                INC.

            
	 
	
              By:
                

            	 /s/
              Habib Khoury
	
               

            	
              Name:
                Habib Khoury

            
	
               

            	
              Title:
                President

            
	 	 
	
              Address
                for Notice:

            
	
              126
                Brookline Ave., 2nd Fl.

            
	
              Boston,
                MA 02215

            
	
              Attention:
                Brad Mindich

            
	 
	
              With
                a copy to:

            
	 
	
              Eisner
                and Frank

            
	
              9601
                Wilshire Blvd., Ste. 700

            
	
              Beverly
                Hills, CA 90210

            
	
              Attn:
                Michael Eisner

            
	
              Facsimile:
                (310) 855-3201

            
	 
	
              HOLDER:

            
	 
	
              TODD
                DUBOEF

            
	 
	 /s/
              Todd Duboef
	 
	
              Address
                for Notice:

            
	 
	 
	 
	 

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    FORM
      OF SUBSCRIPTION

    

    (To
      be
      signed only upon exercise of Warrant)

    

    To:
      __________________________

    

    The
      undersigned, the holder of a right to purchase shares of Common Stock of G8Wave,
      Inc., a Delaware corporation (the “Company”),
      pursuant to that certain Warrant to Purchase Common Stock (the “Warrant”),
      dated
      as of August 1, 2006, hereby irrevocably elects to exercise the purchase right
      represented by such Warrant for, and to purchase thereunder,
      __________________________ (_________) shares of Common Stock of the Company
      and
      herewith makes payment of _________________________ Dollars ($__________)
      therefor by the following method:

    

    (Check
      one of the following):

    

    
      	
              _______ (check if applicable)

            	
              The
                undersigned hereby elects to make payment of ______________ Dollars
                ($___________) therefor in cash or wire transfer of immediately available
                funds.

            
	 	 
	
              _______ (check if applicable)

            	
              The
                undersigned hereby elects to make payment for the aggregate Exercise
                Price
                using the Net Issuance method pursuant to Section 2 of the
                Warrant.

            

    

     

    DATED:
      ________________

    

    
      	
              [Name
                of Holder]

            
	 
	
              By:
                

            	 
	
              Name:
                

            	 
	
              Its:
                

            	 

    

     

    
      
        
        

      

      
        7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]