Document:

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                                                                Exhibit No. 4(e)

                             SUB-ADVISORY AGREEMENT

      Agreement made as of August 1, 2001 between BRINSON ADVISORS, INC.
("Brinson Advisors," formerly known as Mitchell Hutchins Asset Management Inc.),
a Delaware corporation, and STANDISH MELLON ASSET MANAGEMENT COMPANY LLC
("Sub-Adviser"), a limited liability company (the "Agreement").

                                    RECITALS

      (1)   Brinson Advisors has entered into a Management Agreement dated June
15, 1995 ("Management Agreement") with PaineWebber PACE Select Advisors Trust
(formerly known as Managed Accounts Services Portfolio Trust ("Trust")), an
open-end management investment company registered under the Investment Company
Act of 1940, as amended ("1940 Act"), with respect to PACE MUNICIPAL FIXED
INCOME INVESTMENTS ("Portfolio");

      (2)   Brinson Advisors entered into a Sub-Advisory Agreement dated as of
October 10, 2000 (the "Old Sub-Advisory Agreement") with Standish, Ayer & Wood,
Inc. ("Standish") with respect to the Portfolio, pursuant to which Standish
agreed to furnish certain investment advisory services;

      (3)   Effective August 1, 2001, Standish merged into the Sub-Adviser, a
direct wholly owned subsidiary of Mellon Financial Corporation, and as a result
of this transaction, the Old Sub-Advisory Agreement between Brinson Advisors and
Standish automatically terminated; and

      (4)   Brinson Advisors and the Sub-Adviser wish to enter into a new
Sub-Advisory Agreement embodying substantially the same terms and provisions as
the Old Sub-Advisory Agreement.

      NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, Brinson Advisors and the Sub-Adviser agree as follows:

      1.    APPOINTMENT. Brinson Advisors hereby appoints the Sub-Adviser as an
investment sub-adviser with respect to the Portfolio for the period and on the
terms set forth in this Agreement. The Sub-Adviser accepts that appointment and
agrees to render the services herein set forth, for the compensation herein
provided.

      2.    DUTIES AS SUB-ADVISER.

      (a)   Subject to the supervision and direction of the Trust's Board of
Trustees (the "Board") and review by Brinson Advisors, and any written
guidelines adopted by the Board or Brinson Advisors, the Sub-Adviser will
provide a continuous investment program for all or a designated portion of
the assets ("Segment") of the Portfolio, including investment research and
discretionary management with respect to all securities and investments and
cash equivalents in the Portfolio or

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Segment. The Sub-Adviser may from time to time seek research assistance and
may rely upon resources available to it through its affiliated companies to
the extent such actions would not constitute an "assignment" for purposes of
the 1940 Act but in no case shall such assistance and/or reliance relieve the
Sub-Adviser of any of its obligations hereunder, nor shall the Portfolio or
Segment or Brinson Advisors be responsible for any additional fees or
expenses hereunder as a result. The Sub-Adviser will determine from time to
time what investments will be purchased, retained or sold by the Portfolio or
Segment. The Sub-Adviser will be responsible for placing purchase and sell
orders for investments and for other related transactions for the Portfolio
or Segment. The Sub-Adviser will be responsible for voting proxies of issuers
of securities held by the Portfolio or Segment. The Sub-Adviser understands
that the Portfolio's assets need to be managed so as to permit the Portfolio
to qualify or to continue to qualify as a regulated investment company under
Subchapter M of the Internal Revenue Code, as amended ("Code"). The
Sub-Adviser will provide services under this Agreement in accordance with the
Portfolio's investment objective, policies and restrictions as stated in the
Trust's currently effective registration statement under the 1940 Act, and
any amendments or supplements thereto ("Registration Statement").

      (b)   The Sub-Adviser agrees that, in placing orders with brokers, it will
obtain the best net result in terms of price and execution; provided that, on
behalf of the Portfolio, the Sub-Adviser may, in its discretion, use brokers
that provide the Sub-Adviser with research, analysis, advice and similar
services to execute portfolio transactions on behalf of the Portfolio, and the
Sub-Adviser may pay to those brokers in return for brokerage and research
services a higher commission than may be charged by other brokers, subject to
the Sub-Adviser's determination in good faith that such commission is reasonable
in terms either of the particular transaction or of the overall responsibility
of the Sub-Adviser to the Portfolio and its other clients and that the total
commissions paid by the Portfolio or Segment will be reasonable in relation to
the benefits to the Portfolio over the long term. In no instance will portfolio
securities be purchased from or sold to Brinson Advisors or the Sub-Adviser, or
any affiliated person thereof, except in accordance with the federal securities
laws and the rules and regulations thereunder. The Sub-Adviser may aggregate
sales and purchase orders with respect to the assets of the Portfolio or Segment
with similar orders being made simultaneously for other accounts advised by the
Sub-Adviser or its affiliates. Whenever the Sub-Adviser simultaneously places
orders to purchase or sell the same security on behalf of the Portfolio and one
or more other accounts advised by the Sub-Adviser, the orders will be allocated
as to price and amount among all such accounts in a manner believed to be
equitable over time to each account. Brinson Advisors recognizes that in some
cases this procedure may adversely affect the results obtained for the Portfolio
or Segment.

      (c)   The Sub-Adviser will maintain all books and records required to be
maintained pursuant to the 1940 Act and the rules and regulations promulgated
thereunder with respect to transactions by the Sub-Adviser on behalf of the
Portfolio or Segment, and will furnish the Board and Brinson Advisors with such
periodic and special reports as the Board or Brinson Advisors reasonably may
request. In compliance with the requirements of Rule 31a-3 under the 1940 Act,
the Sub-Adviser hereby agrees that all records which it maintains for the
Portfolio are the property of the Trust, agrees to preserve for the periods
prescribed by Rule 31a-2 under the 1940 Act any records that it maintains for
the Portfolio and that are required to be maintained by Rule 31a-1 under the
1940 Act, and further

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agrees to surrender promptly to the Trust any records which it maintains for the
Portfolio upon request by the Trust.

      (d)   At such times as shall be reasonably requested by the Board or
Brinson Advisors, the Sub-Adviser will provide the Board and Brinson Advisors
with economic and investment analyses and reports as well as quarterly reports
setting forth the performance of the Portfolio or Segment and make available to
the Board and Brinson Advisors any economic, statistical and investment services
that the Sub-Adviser normally makes available to its institutional or other
customers.

      (e)   In accordance with procedures adopted by the Board, as amended from
time to time, the Sub-Adviser is responsible for assisting in the fair valuation
of all portfolio securities in the Portfolio or Segment and will use its
reasonable efforts to arrange for the provision of a price or prices from one or
more parties independent of the Sub-Adviser for each portfolio security for
which the custodian does not obtain prices in the ordinary course of business
from an automated pricing service.

      3.    FURTHER DUTIES. In all matters relating to the performance of this
Agreement, the Sub-Adviser will seek to act in conformity with the Trust's Trust
Instrument, By-Laws and Registration Statement and with the written instructions
and written directions of the Board and Brinson Advisors; and will comply with
the requirements of the 1940 Act, and the Investment Advisers Act of 1940, as
amended ("Advisers Act"), and the rules under each, the Code, and all other
federal and state laws and regulations applicable to the Trust and the
Portfolio. Brinson Advisors agrees to provide to the Sub-Adviser copies of the
Trust's Trust Instrument, By-Laws, Registration Statement, written instructions
and directions of the Board and Brinson Advisors, and any amendments or
supplements to any of these materials as soon as practicable after such
materials become available; and further agrees to identify to the Sub-Adviser in
writing any broker-dealers that are affiliated with Brinson Advisors (other than
UBS PaineWebber Inc. and Brinson Advisors itself).

      4.    EXPENSES. During the term of this Agreement, the Sub-Adviser will
bear all expenses incurred by it in connection with its services under this
Agreement. The Sub-Adviser shall not be responsible for any expenses incurred by
the Trust, the Portfolio or Brinson Advisors.

      5.    COMPENSATION.

      (a)   For the services provided and the expenses assumed by the
Sub-Adviser pursuant to this Agreement, Brinson Advisors, not the Portfolio,
will pay to the Sub-Adviser a fee, computed daily and payable monthly, at an
annual rate of 0.20% of the average daily net assets up to and including $60
million and 0.15% of the average daily net assets in excess of $60 million of
the Portfolio or Segment allocated to its management (computed in the manner
specified in the Management Agreement), and will provide the Sub-Adviser with a
schedule showing the manner in which the fee was computed. If the Sub-Adviser is
managing a Segment, its fees will be based on the value of the assets of the
Portfolio within the Sub-Adviser's Segment.

      (b)   The fee shall be accrued daily and payable monthly to the
Sub-Adviser on or before the last business day of the next succeeding calendar
month.

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      (c)   If this Agreement becomes effective or terminates before the end of
any month, the fee for the period from the effective date to the end of the
month or from the beginning of such month to the date of termination, as the
case may be, shall be pro-rated according to the proportion which such period
bears to the full month in that such effectiveness or termination occurs.

      6.    LIMITATION OF LIABILITY.

      (a)   The Sub-Adviser shall not be liable for any error of judgment or
mistake of law or for any loss suffered by the Portfolio, the Trust or its
shareholders or by Brinson Advisors in connection with the matters to which this
Agreement relates, except a loss resulting from willful misfeasance, bad faith
or gross negligence on its part in the performance of its duties or from
reckless disregard by it of its obligations and duties under this Agreement.

      (b)   In no event will the Sub-Adviser have any responsibility for any
other series of the Trust, for any portion of the Portfolio not managed by the
Sub-Adviser or for the acts or omissions of any other sub-adviser to the Trust
or Portfolio, the Trust's custodian, administrator, distributor or any
broker-dealer selected with due care by the Sub-Adviser to effect transactions
for the Portfolio.

      In particular, in the event the Sub-Adviser shall manage only a portion of
the Portfolio's investments, the Sub-Adviser shall have no responsibility for
the Portfolio's being in violation of any applicable law or regulation or
investment policy or restriction applicable to the Portfolio as a whole or for
the Portfolio's failing to qualify as a regulated investment company under the
Code, if the securities and other holdings of the Segment of the Portfolio
managed by the Sub-Adviser are such that such Segment would not be in such
violation or fail to so qualify if such Segment were deemed a separate series of
the Trust or a separate "regulated investment company" under the Code.

      Nothing in this section shall be deemed a limitation or waiver of any
obligation or duty that may not by law be limited or waived.

      7.    REPRESENTATIONS OF SUB-ADVISER. The Sub-Adviser represents, warrants
and agrees as follows:

      (a)   The Sub-Adviser (i) is registered as an investment adviser under the
Advisers Act and will continue to be so registered for so long as this Agreement
remains in effect; (ii) is not prohibited by the 1940 Act or the Advisers Act
from performing the services contemplated by this Agreement; (iii) has met, and
will seek to continue to meet for so long as this Agreement remains in effect,
any other applicable federal or state requirements, or the applicable
requirements of any regulatory or industry self-regulatory agency, necessary to
be met in order to perform the services contemplated by this Agreement; (iv) has
the authority to enter into and perform the services contemplated by this
Agreement; and (v) will promptly notify Brinson Advisors of the occurrence of
any event that would disqualify the Sub-Adviser from serving as an investment
adviser of an investment company pursuant to Section 9(a) of the 1940 Act or
otherwise.

      (b)   The Sub-Adviser has adopted a written code of ethics complying with
the requirements of Rule 17j-1 under the 1940 Act and will provide Brinson
Advisors and the Board with a copy of such code of ethics, together with
evidence of its adoption. Within fifteen days of the end of

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the last calendar quarter of each year that this Agreement is in effect, the
president or a vice-president of the Sub-Adviser shall certify to Brinson
Advisors that the Sub-Adviser has complied with the requirements of Rule 17j-1
during the previous year and that there has been no material violation of the
Sub-Adviser's code of ethics or, if such a violation has occurred, that
appropriate action was taken in response to such violation. Upon the written
request of Brinson Advisors, the Sub-Adviser shall permit Brinson Advisors, its
employees or its agents to examine the reports required to be made by the
Sub-Adviser pursuant to Rule 17j-1 and all other records relevant to the
Sub-Adviser's code of ethics.

      (c)   The Sub-Adviser has provided Brinson Advisors with a copy of its
Form ADV, as most recently filed with the Securities and Exchange Commission
("SEC"), and promptly will furnish a copy of all amendments to Brinson Advisors
at least annually.

      (d)   The Sub-Adviser will notify Brinson Advisors of any change of
control of the Sub-Adviser, including any change of its general partners or 25%
shareholders or 25% limited partners, as applicable, and any changes in the key
personnel who are either the portfolio manager(s) of the Portfolio or senior
management of the Sub-Adviser, in each case prior to or promptly after such
change.

      (e)   The Sub-Adviser agrees that neither it, nor any of its affiliates,
will in any way refer directly or indirectly to its relationship with the Trust,
the Portfolio, Brinson Advisors or any of their respective affiliates in
offering, marketing or other promotional materials without the express written
consent of Brinson Advisors.

      8.    SERVICES NOT EXCLUSIVE. The services furnished by the Sub-Adviser
hereunder are not to be deemed exclusive, and except as the Sub-Adviser may
otherwise agree in writing, the Sub-Adviser shall be free to furnish similar
services to others so long as its services under this Agreement are not impaired
thereby. Nothing in this Agreement shall limit or restrict the right of any
director, officer or employee of the Sub-Adviser, who may also be a trustee,
officer or employee of the Trust, to engage in any other business or to devote
his or her time and attention in part to the management or other aspects of any
other business, whether of a similar nature or a dissimilar nature.

      9.    DURATION AND TERMINATION.

      (a)   This Agreement shall become effective upon the date first above
written, provided that this Agreement shall not take effect unless it has first
been approved (i) by a vote of a majority of those trustees of the Trust who are
not parties to this Agreement or interested persons of any such party
("Independent Trustees"), cast in person at a meeting called for the purpose of
voting on such approval, and (ii) by vote of a majority of the Portfolio's
outstanding voting securities, unless Brinson Advisors has authority to enter
into this Agreement pursuant to exemptive relief from the SEC without a vote of
the Portfolio's outstanding voting securities.

      (b)   Unless sooner terminated as provided herein, this Agreement shall
continue in effect for two years from its effective date. Thereafter, if not
terminated, this Agreement shall continue automatically for successive periods
of twelve months each, provided that such continuance is specifically approved
at least annually (i) by a vote of a majority of the Independent Trustees, cast
in

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person at a meeting called for the purpose of voting on such approval, and
(ii) by the Board or by vote of a majority of the outstanding voting securities
of the Portfolio.

      (c)   Notwithstanding the foregoing, this Agreement may be terminated at
any time, without the payment of any penalty, by vote of the Board or by a vote
of a majority of the outstanding voting securities of the Portfolio on 60 days'
written notice to the Sub-Adviser. This Agreement may also be terminated,
without the payment of any penalty, by Brinson Advisors: (i) upon 120 days'
written notice to the Sub-Adviser; (ii) upon material breach by the Sub-Adviser
of any of the representations, warranties and agreements set forth in Paragraph
7 of this Agreement; or (iii) immediately if, in the reasonable judgment of
Brinson Advisors, the Sub-Adviser becomes unable to discharge its duties and
obligations under this Agreement, including circumstances such as financial
insolvency of the Sub-Adviser or other circumstances that could adversely affect
the Portfolio. The Sub-Adviser may terminate this Agreement at any time, without
the payment of any penalty, on 120 days' written notice to Brinson Advisors.
This Agreement will terminate automatically in the event of its assignment or
upon termination of the Management Agreement, as it relates to this Portfolio.

      10.    AMENDMENT OF THIS AGREEMENT. No provision of this Agreement may be
changed, waived, discharged or terminated orally, but only by an instrument in
writing signed by the party against whom enforcement of the change, waiver,
discharge or termination is sought. To the extent required by applicable law, no
amendment of this Agreement shall be effective until approved (i) by a vote of a
majority of the Independent Trustees, and (ii) if the terms of this Agreement
shall have changed, by a vote of a majority of the Portfolio's outstanding
voting securities (except in the case of (ii), pursuant to the terms and
conditions of the SEC order permitting it to modify the Agreement without such
vote).

      11.    GOVERNING LAW. This Agreement shall be construed in accordance with
the 1940 Act and the laws of the State of New York, without giving effect to the
conflicts of laws principles thereof. To the extent that the applicable laws of
the State of New York conflict with the applicable provisions of the 1940 Act,
the latter shall control.

      12.    MISCELLANEOUS. The captions in this Agreement are included for
convenience of reference only and in no way define or delimit any of the
provisions hereof or otherwise affect their construction or effect. If any
provision of this Agreement shall be held or made invalid by a court decision,
statute, rule or otherwise, the remainder of this Agreement shall not be
affected thereby. This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto and their respective successors. As used in this
Agreement, the terms "majority of the outstanding voting securities,"
"affiliated person," "interested person," "assignment," "broker," "investment
adviser," "net assets," "sale," "sell" and "security" shall have the same
meanings as such terms have in the 1940 Act, subject to such exemption as may be
granted by the SEC by any rule, regulation or order. Where the effect of a
requirement of the federal securities laws reflected in any provision of this
Agreement is made less restrictive by a rule, regulation or order of the SEC,
whether of special or general application, such provision shall be deemed to
incorporate the effect of such rule, regulation or order. This Agreement may be
signed in counterpart.

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      13.    NOTICES. Any notice herein required is to be in writing and is
deemed to have been given to the Sub-Adviser or Brinson Advisors upon receipt of
the same at their respective addresses set forth below. All written notices
required or permitted to be given under this Agreement will be delivered by
personal service, by postage mail return receipt requested or by facsimile
machine or a similar means of same delivery which provides evidence of receipt
(with a confirming copy by mail as set forth herein). All notices provided to
Brinson Advisors will be sent to the attention of the General Counsel. All
notices provided to the Sub-Adviser will be sent to the attention of the
Compliance Officer.

      IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their duly authorized signatories as of the date and year first
above written.

                                            BRINSON ADVISORS, INC.
                                            51 West 52nd Street
                                            New York, New York  10019-6114
Attest:

By:      /s/  Keith A. Weller               By:  /s/  Amy R. Doberman
         --------------------------              ----------------------------
         Name:  Keith A. Weller                  Name:  Amy R. Doberman
         Title: Director                         Title: Executive Director

                                            STANDISH MELLON ASSET MANAGEMENT
                                            COMPANY LLC
                                            One Financial Center
Attest:                                     Boston, MA 02111

By:      /s/  Diostenes Medina              By:  /s/  Paul G. Martins
         --------------------------              ----------------------------
         Name:  Diostenes Medina                 Name:  Paul G. Martins
         Title: Compliance Officer               Title: Treasurer

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                                  EXHIBIT 10.3

                    Escrow Agreement with Harbor National Bank

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                                ESCROW AGREEMENT

     THIS ESCROW AGREEMENT ("Agreement") is made and entered into as of November
1, 2001 by and between InPurple, Inc., a Delaware corporation qualified to do
business in California (the "Issuer"), and Harbor National Bank, a national
banking association (the "Escrow Agent"), collectively referred to herein as the
"parties".

                                    RECITALS:

     A.   The Issuer has prepared a Prospectus dated November __, 2001 (the
"Prospectus"), a copy of which has been provided to the Escrow Agent in draft
form. The final form approved by the SEC shall be provided to the Escrow Agent
when the Form SB-2 registration statement, which includes the form of the
Prospectus, has been declared effective by the SEC.

     B.   The Issuer proposes to offer for sale to investors, through the best
efforts of its officers and directors, up to 400,000 shares of its common stock
(the "Shares"), at an offering price of $5.00 per Share, resulting in a maximum
offering of $2,000,000 (the "Maximum"). The minimum offering will be 180,000
Shares for $900,000 (the "Minimum").

     C.   There is no minimum amount of Shares that must be purchased by an
investor.

     D.   The Issuer proposes to establish an escrow account with the Escrow
Agent for the Offering, and the Escrow Agent is willing to establish and
maintain such escrow account on the terms and subject to the conditions set
forth herein.

     NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, including the mutual covenants herein contained,
the parties hereto agree as follows:

     1.   ESTABLISHMENT OF THE ESCROW ACCOUNT.

          1.1 The parties hereto shall establish an interest-bearing, bank money
market escrow account at the office of the Escrow Agent located at 895 Dove
Street, Suite 100, Newport Beach, California (the "Escrow Account"), in
accordance with Rule 15c2-4 of the Securities and Exchange Commission. The name
of the Escrow Account shall be "Harbor National Bank as Escrow Agent for
InPurple, Inc." The Issuer will instruct subscribers to make checks for
subscriptions payable to the order of "Harbor National Bank as Escrow Agent for
InPurple, Inc." or to the order of the Escrow Agent or the Issuer, or to wire
transfer funds to the

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Escrow Agent, with reference to the account number of the Escrow Account. Any
checks received that are made payable to, or funds wire transferred to, a party
other than the Escrow Agent or the Issuer, shall be returned to the subscriber
who submitted the check or wire.

     2.   ESCROW PERIOD.

          The Escrow Period shall begin as of the date of this Agreement and
shall terminate upon the earlier to occur of the following dates (the
"Termination Date"):

          (a) January 31, 2002; or

          (b) the date upon which the Escrow Agent receives cleared funds for
the Maximum; or

          (c) the date upon which the Escrow Agent receives written notice from
the Issuer that the Offering has been terminated. The Issuer shall be entitled
to terminate the Offering and the Escrow, either prior to or after the Escrow
Agent's receipt of the Minimum, by giving joint written instructions to the
Escrow Agent to terminate the Escrow. If such joint termination instructions are
received by the Escrow Agent prior to the Escrow Agent's receipt of the Minimum,
then the Escrow Agent shall disburse the Escrow Amount, as defined in Section
3.1 hereof, pursuant to the provisions of Section 4.1 hereof. If such
termination instructions are received by the Escrow Agent after the Escrow
Agent's receipt of the Minimum, then the Escrow Agent shall disburse the Escrow
Amount pursuant to the provisions of Sections 4.2 and 4.3 hereof.

     During the Escrow Period, the Issuer is aware and understands that it is
not entitled to any funds received into escrow and no amounts deposited in the
Escrow Account shall become the property of the Issuer or any other entity, or
be subject to the debts of the Issuer or any other entity.

     3.   DEPOSITS INTO THE ESCROW ACCOUNT.

          3.1 The Issuer agrees that it shall deliver all monies received from
subscribers by noon on the business day following the Issuer's receipt of cash
monies, or that it shall promptly effect the wire transfer of subscribers'
funds, for the payment of Shares to the Escrow Agent for deposit in the Escrow
Account. All monies deposited in the Escrow Account are referred to as the
"Escrow Amount."

          3.2 All amounts received from subscribers of the Shares shall be in
full payment for the Shares purchased and shall be in U.S. dollars in the form
of checks, wire transfers, draft or money orders made payable as described in
Section 1.1 herein. Any check, wire transfer, draft or money order made payable
other than as set forth in Section 1.1 shall be

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returned to the subscriber by mail the next business day following receipt of
such instrument by the Escrow Agent, and such instrument shall be deemed not to
have been delivered to the Escrow Agent pursuant to the terms of this Agreement.

          3.3 Simultaneously with each deposit into the Escrow Account, the
Issuer shall deliver to the Escrow Agent two (2) copies of the Subscription
Agreement, informing the Escrow Agent in writing of the name and address of the
subscriber, the number of Shares subscribed for such subscriber, and the
aggregate dollar amount of such subscription.

          3.4 The Escrow Agent shall not be required to accept for deposit into
the Escrow Account checks which (a) do not represent payment in full of the
Shares purchased, and/or (b) are not accompanied by the delivery of two (2)
copies of the Subscription Agreement. Cash or wire transfers representing
payments by prospective purchasers shall not be deemed deposited in the Escrow
Account until the Escrow Agent has received in writing, two (2) copies of the
Subscription Agreement required with respect to such payments. Until Escrow
Agent receives two (2) copies of the Subscription Agreement required with
respect to any cash or wire transfers received by Escrow Agent, such funds shall
be held by Escrow Agent in a non-interest bearing account until the two (2)
copies of the Subscription Agreement have been received, at which time the funds
shall be deposited in the Escrow Account.

          3.5 In the event any wire received by Escrow Agent is subject to any
Office of Foreign Assets Control ("OFAC") restriction, such funds shall not be
deemed to have been accepted for deposit into the Escrow Account, but instead
shall be subject to such action as may be required by Escrow Agent to fully
comply with all applicable OFAC instructions, rules and regulations.

          3.6 The Escrow Agent shall not be required to accept any amounts
representing payments by subscribers, whether by check, wire transfer, draft or
money order, except during the Escrow Agent's regular banking hours.

          3.7 Upon confirmation by the Escrow Agent that it has received the
Minimum in collected funds, the Escrow Agent shall promptly give notice to the
Issuer that the Minimum has been received.

          3.8 In the event that the Escrow Agent has made a disbursement of the
Escrow Amount pursuant to Section 4.2 below and the Escrow Period has not
terminated pursuant to Section 2 above, upon confirmation by the Escrow Agent
that it has received the Maximum in collected funds, taking into account the
amounts disbursed pursuant to Section 4.2 below, the Escrow Agent shall promptly
give notice to the Issuer that the Maximum has been received.

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     4.   DISBURSEMENTS FROM THE ESCROW ACCOUNT.

          4.1 In the event that at the close of regular banking hours on the
Termination Date of the Escrow Period the Escrow Amount shall be less than the
Minimum, as indicated by the Subscription Agreements submitted to the Escrow
Agent, then the Escrow Agent shall promptly (a) notify each subscriber that the
offering contemplated hereby did not close and refund to each subscriber the
amount of payment received from such subscriber, without interest thereon, (b)
disburse all interest accrued on the Escrow Amount to the Issuer, for the
Issuer's transmittal to subscribers in such amounts as shall be determined by
the Issuer, and (c) notify the Issuer of its distribution of the Escrow Amount
to the subscribers and all accrued interest thereon to the Issuer (less amounts
due to the Escrow Agent under this Agreement). The purchase money returned to
each subscriber shall be free and clear of any and all claims of the Issuer or
any of its creditors.

          4.2 If, at any time prior to or as of the Termination Date, the Escrow
Amount is equal to or greater than the Minimum, but less than the Maximum, then
the Escrow Agent shall release, upon receipt of written instructions from the
Issuer, signed by either Sean P. Lewis or David J. Clancy on behalf of the
Issuer, the Escrow Amount, plus all accrued interest thereon, less any amounts
due to the Escrow Agent under this Agreement; provided, however, that in no
event shall the Escrow Amount be released to the Issuer until such amount is
received by the Escrow Agent in collected funds. For purposes of this Agreement,
the term "collected funds" shall mean all funds received by the Escrow Agent
which have cleared normal banking channels and are in the form of cash. In the
event the Minimum is achieved and the Escrow Amount, less the deductions noted
above, is released to the Issuer before the Termination Date, then the Escrow
shall continue until the Termination Date and any additional funds deposited in
the Escrow Account shall be released to the Issuer from time to time until the
Termination Date upon receipt by the Escrow Agent of joint written instructions
to do so from the Issuer, executed by the Issuer as provided above.

          4.3 In the event that the Escrow Agent has made a disbursement of the
Escrow Amount plus accrued interest pursuant to Section 4.2 above and (a) the
Escrow Agent does receive the Maximum or (b) the Escrow Period terminates
pursuant to Section 2 above, then the Escrow Agent shall release, upon receipt
of written instructions signed by either Sean P. Lewis or David J. Clancy on
behalf of the Issuer, and deliver to the Issuer, the Escrow Amount plus interest
accrued thereon, less any amounts due to the Escrow Agent under this Agreement;
provided, however, that in no event shall the Escrow Amount be released to the
Issuer until such amount is received by the Escrow Agent in collected funds, as
defined in Section 4.2 above.

          4.4 With respect to subscriptions not accepted, in whole or in part,
by the Issuer, by reason of the Offering becoming fully subscribed prior to the
Escrow Agent's receipt of such subscription, or because such subscription is
received after the Termination Date, the Escrow Agent shall follow the written
(which may be sent by mail or facsimile) instructions of the Issuer with respect
to refunding to each subscriber the payments made, pursuant to Section 5.3
below.

                                       4
<Page>

          4.5 Upon disbursement of the Escrow Amount and interest pursuant to
the terms of this Section 4, the Escrow Agent shall be relieved of all further
obligations and released from all liability under this Agreement. It is
expressly agreed and understood that in no event shall the aggregate amount of
payments made by the Escrow Agent exceed the Escrow Amount, together with
interest thereon. It is further expressly agreed and understood that Escrow
Agent shall have no responsibility to disburse interest to any person other than
Issuer, and that it shall be the sole responsibility of Issuer to distribute
interest to subscribers, if applicable.

     5.   COLLECTION PROCEDURE.

          5.1 The Escrow Agent is hereby authorized to forward each check for
collection and, upon collection of the proceeds of each check, deposit the
collected proceeds in the Escrow Account. As an alternative, the Escrow Agent
may telephone the bank on which the check is drawn to confirm that the check has
been paid.

          5.2 Any check returned unpaid to the Escrow Agent shall be returned to
the subscriber who submitted the check. In such cases, the Escrow Agent will
promptly notify the Issuer of such return.

          5.3 If the Issuer rejects any subscription, in whole or in part, for
which the Escrow Agent has already collected funds, the Escrow Agent shall
promptly issue a refund check to the rejected subscriber. If the Issuer rejects
any subscription for which the Escrow Agent has not yet collected funds but has
submitted the subscriber's check for collection, the Escrow Agent shall promptly
issue a check in the amount of the subscriber's check to the rejected subscriber
after the Escrow Agent has cleared such funds. If the Escrow Agent has not yet
submitted a rejected subscriber's check for collection, the Escrow Agent shall
promptly remit the subscriber's check directly to the subscriber.

     6.   INVESTMENT OF ESCROW AMOUNT. During the entire term of the Escrow
Period, the full Escrow Amount shall be held by the Escrow Agent in an
interest-bearing bank money market account as described in Section 1.1 hereof at
Escrow Agent's office located at 895 Dove Street, Suite 100, Newport Beach,
California 92660.

     7.   RIGHTS, DUTIES AND RESPONSIBILITIES OF ESCROW AGENT. It is understood
and agreed that the duties of the Escrow Agent are purely administrative in
nature, and that:

          7.1 The Escrow Agent shall not be responsible for the performance by
the Issuer of its obligations under this Agreement or under the Prospectus.

          7.2 The Escrow Agent shall not be required to accept any Subscription
Agreement pertaining to a subscriber unless such Subscription Agreement is
accompanied by or preceded by a check, wire transfer, draft or money order made
payable either to the Issuer (and

                                       5
<Page>

endorsed to the order of the Escrow Agent), or to the Escrow Agent, nor shall
the Escrow Agent be required to keep records of any information with respect to
payments deposited by any subscriber, except as to the amount and dates of such
payments; however, the Escrow Agent shall notify any subscriber, within a
reasonable time, of a discrepancy between the amount set forth in any
Subscription Agreement and the payment delivered to the Escrow Agent therewith.
Such payment need not be accepted for deposit in the Escrow Account until such
discrepancy has been resolved.

          7.3 The Escrow Agent shall be under no duty or responsibility to
enforce collection of any check delivered to it hereunder. The Escrow Agent,
within a reasonable time, shall return to the subscriber any check received
which is dishonored, together with the Subscription Agreement, if any, which
accompanied such check. In the event that any check received by Escrow Agent
hereunder is returned unpaid by the drawee bank, and notwithstanding any other
provision contained herein, the Escrow Agent may deduct from the funds held
hereunder the amount of said check together with an amount representing the
interest payable on said amount for the period during which said funds were
credited hereunder and shall notify Issuer of such occurrence.

          7.4 The Escrow Agent shall be entitled to rely upon the accuracy, act
in reliance upon the contents, and assume the genuineness of, any notice,
instruction, certificate, signature, instrument or other document which is given
to the Escrow Agent pursuant to this Agreement without the necessity of the
Escrow Agent verifying the truth or accuracy thereof. The Escrow Agent shall not
be obligated to make any inquiry as to the authority, capacity, existence or
identify of any person purporting to give any such notice or instructions or to
execute any such certificate, instrument or other document.

          7.5 The Escrow Agent shall not be liable for any action taken or
omitted hereunder, or for the misconduct of any employee, agent or attorney
appointed by it, except in the case of Escrow Agent's willful misconduct or
negligence.

          7.6 The Escrow Agent shall issue, make and file a Form 1099-Interest
to Issuer with respect to the interest earned on invested funds, in accordance
with applicable IRS regulations. If Issuer distributes such interest to
subscribers, then such distributions and the filing of appropriate Form 1099's
to subscribers shall be the sole responsibility of Issuer.

          7.7 Within two (2) business days after receiving two (2) copies of a
Subscription Agreement (accompanied by payment for the Units subscribed for),
the Escrow Agent shall send to the Issuer by mail or facsimile (with original to
be mailed by first class mail on the same date) one (1) complete copy of the
Subscription Agreement.

                                       6
<Page>

     8.   AMENDMENT, RESIGNATION, INTERPLEADER.

          8.1 This Agreement may be altered or amended only with the written
consent of the Issuer and the Escrow Agent. The Escrow Agent may resign for any
reason upon thirty (30) days' written notice to the Issuer. Should the Escrow
Agent resign as herein provided, after the effective date of such resignation it
shall not be required to accept any deposit, make any disbursement or otherwise
dispose of the Escrow Amount, but its only duty shall be to hold the Escrow
Amount for a period of not more than five (5) business days following the
effective date of such resignation, at which time (a) if a successor escrow
agent shall have been appointed by the Issuer and written notice thereof
(including the name and address of such successor escrow agent) shall have been
given to the resigning Escrow Agent by the Issuer and such successor escrow
agent, then the resigning Escrow Agent shall pay the Escrow Amount to the
successor escrow agent (together with interest thereon), less any portion
thereof previously paid out in accordance with this Agreement; or (b) if the
resigning Escrow Agent shall not have received written notice signed by the
Issuer and a successor escrow agent, then the resigning Escrow Agent shall
promptly refund the Escrow Amount (together with interest thereon) to each
subscriber, and the resigning Escrow Agent shall notify the Issuer in writing of
its liquidation and distribution of the Escrow Amount, whereupon, in either
case, the Escrow Agent shall be relieved of all further obligations and released
from all liability under this Agreement. Without limiting the provisions of
Section 10 hereof, the resigning Escrow Agent shall be entitled to be reimbursed
by the Issuer for any expenses incurred in connection with its resignation,
transfer of the Escrow Amount to a successor escrow agent or distribution of the
Escrow Amount pursuant to this Section 8.1.

          8.2 Should the parties not designate a successor agent within 35 days
of the Escrow Agent's resignation, or should any dispute arise with respect to
the Escrow, the Escrow Amount, this Agreement or the escrowed property, Escrow
Agent may deposit the Escrow Amount with a court of competent jurisdiction and
interplead such dispute and the parties will hold Escrow Agent harmless and
indemnify it against all consequences and expenses which may be incurred,
including Escrow Agent's reasonable attorneys fees.

     9.   REPRESENTATIONS AND WARRANTIES. The Issuer represents and warrants to
the Escrow Agent that:

          9.1 No party other than the parties hereto and the subscribers have,
or shall have, any lien, claim or security interest in the Escrow Account or any
part thereof.

          9.2 All of the information contained herein is, as of the date hereof,
and will be at the time of disbursement of the Escrow Amount, true and correct.

     10.  FEES AND EXPENSES. The Issuer shall pay the Escrow Agent a fee for its
escrow services in the amount of $1,500, payable upon execution of this
Agreement. The Issuer shall pay the Escrow Agent a processing charge of $10 per
subscriber, whether or not the Escrow is completed, due upon the closing or
termination of the Escrow and a fee of $10.00 per returned subscription funds
check if the Escrow is not completed, payable upon Escrow Agent's written
demand. The Issuer agrees to reimburse the Escrow Agent for any reasonable
expenses incurred

                                       7
<Page>

in connection with this Agreement, including, but not limited to, reasonable
counsel fees not to exceed $500. If it is necessary for the Escrow Agent to
return funds to the subscribers of the Shares, the Issuer shall pay to the
Escrow Agent such funds as may be required to pay the Escrow Agent its fees,
costs and expenses, including indemnification for any damages incurred by the
Escrow Agent. However, no such fee, reimbursement for costs and expenses,
indemnification for any damages incurred by the Escrow Agent, or any monies
whatsoever shall be paid out of or chargeable to the funds on deposit in the
Escrow Account.

     11.  INDEMNIFICATION AND CONTRIBUTION.

          11.1 Notwithstanding the provisions of paragraph 10, the Issuer agrees
to indemnify the Escrow Agent and its officers, directors, employees, agents,
parent and affiliates (jointly and severally the "Indemnitees") and the Issuer
agrees to hold them harmless from, any and all loss, liability, cost, damage and
expense, including, without limitation, reasonable counsel fees, which the
Indemnitees may suffer or incur by reason of any action, claim or proceeding
brought or threatened against the Indemnitees arising out of or relating in any
way to this Agreement or any transaction to which this Agreement relates, unless
such action, claim or proceeding is the result of the willful misconduct or
negligence of the Indemnitees.

          11.2 The provisions of this Section 11 shall survive any termination
of this Agreement, whether by disbursement of the Escrow Amount, resignation of
the Escrow Agent or otherwise.

          11.3 The Issuer will not make any reference to Harbor National Bank in
connection with the Offering except with respect to its role as Escrow Agent
hereunder and in no event will the Issuer state or imply that the Escrow Agent
has investigated or endorsed the Offering or the Shares in any manner
whatsoever.

     12.  GOVERNING LAW AND ASSIGNMENT. This Agreement shall be construed in
accordance with and governed by the laws of the State of California. This
Agreement shall be binding upon and inure to the benefit of the parties and
their respective successors and assigns.

     13.  NO DUTY TO PAY TAXES. The Escrow Agent shall have no duty or
responsibility to pay any federal, state or local income taxes on any escrowed
property or to make or file any tax returns or other governmental reports. The
escrowed property shall be considered to be the property of the respective
investor for all tax purposes.

     14.  NOTICES. Any notice, request, demand and other communication which any
party hereto may desire or may be required hereunder to give shall be in writing
and shall be deemed to be duly given if delivered personally or mailed by
certified or registered mail (postage prepaid, return receipt requested), air
courier or facsimile transmission (with the original mailed by first class mail
on the same date), addressed to such other party as follows:

                                       8
<Page>

     If to Issuer:                  InPurple, Inc.
                                    600 Anton Blvd., 11th Floor
                                    Costa Mesa, CA  92626
                                    Sean P. Lewis,
                                    Chairman and CEO

     If to Escrow Agent:            Harbor National Bank
                                    895 Dove Street, Suite 100
                                    Newport Beach, California  92660
                                    ATTN:  Deborah Scott
                                    Fax:  (949) 852-8844

     With a copy to:                Mr. David T. Blankenhorn
                                    President and Chief Executive Officer
                                    Harbor National Bank
                                    34180 Pacific Coast Highway
                                    Dana Point, CA  92629
                                    Fax:  (949) 496-7859

or to such other address as any party hereto may hereafter designate to the
other parties in writing. Notice shall be deemed to have been given on the date
reflected in the proof or evidence of delivery, or if none, on the date actually
received.

     15.  SEVERABILITY. If any provision of this Agreement or the application
thereof to any person or circumstance shall be determined to be invalid or
unenforceable, the remaining provisions of this Agreement or the application of
such provision to the person or circumstances other than those to which it is
held invalid or unenforceable shall not be affected thereby and shall be valid
and enforceable to the fullest extent permitted by law.

     16.  CERTIFICATE OF AUTHORIZATION OF OFFICERS. The Issuer represents and
warrants that the following named officers of the Issuer, are now acting and
qualified to sign on behalf of the Issuer, EITHER ACTING ALONE, all written
instructions, consents, waivers, notices, documents, instruments and
certificates of the Issuer, in accordance with and as provided in the bylaws of
the Issuer, that the specimen signatures appearing opposite the names and titles
set forth below are the genuine signatures of such officer and that said
officers hold the titles of the Issuer described below. The Escrow Agent is
further authorized to recognize these signatures until Escrow Agent receives
written instructions to the contrary from Issuer.

Sean P. Lewis, Chairman and CEO             , will sign /s/ SEAN P. LEWIS
--------------------------------------------            ------------------------
Printed Name and Title                                        Signature

David J. Clancy, Director                   , will sign /s/ DAVID J. CLANCY
--------------------------------------------            ------------------------
Printed Name and Title                                        Signature

                                       9

<Page>

     17.  EXECUTION IN SEVERAL COUNTERPARTS. This Agreement may be executed in
several counterparts or by separate instruments and all of such counterparts and
instruments shall constitute one agreement, binding on all of the parties
hereto.

     18.  ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings (written or oral) of the
parties in connection herewith.

     IN WITNESS WHEREOF, the undersigned have executed this Agreement to be
effective as of the day and year first above written.

                  Issuer:          InPurple, Inc.,
                                   a Delaware corporation

                                   By:     /s/ SEAN P. LEWIS
                                           ------------------------------------
                                           Sean P. Lewis
                                           Chairman and CEO

                                   By:     /s/ DAVID J. CLANCY
                                           ------------------------------------
                                           David J. Clancy
                                           Director

                  Escrow Agent:    Harbor National Bank
                                   a national banking association

                                   By:     /s/ DAVID T. BLANKENHORN
                                           ------------------------------------
                                           David T. Blankenhorn
                                           President and Chief Executive Officer

                                       10

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