Document:

Unassociated Document

    PRIVATE
      PLACEMENT SUBSCRIPTION AGREEMENT

    (for
      completion by non-United States residents)

    

    MYECHECK,
      INC.

     

    THIS
      AGREEMENT MADE EFFECTIVE as
      of the
      ___ day of _______________, 2008 (the "Effective Date").

     

    BETWEEN:
      

     

    MYECHECK,
      INC.,
      a
      private Delaware corporation with offices at Suite 5, 1190 Suncast Lane, El
      Dorado Hills, CA 95762;

     

    (the
      “Company”)

     

    AND:

     

    THE
      PURCHASER
      NAMED AND SIGNING

    AS
      PURCHASER ON SCHEDULE “A” HERETO.

     

    (the
      “Purchaser”)

     

     

    WHEREAS:

     

    A.  The
      Purchaser wishes to and hereby subscribes for and agrees to purchase the
2,000,000
      units
      (the “Securities”) of the Company (based on its capitalization following
      effectiveness of the merger contemplated by the Merger Agreement, as defined
      below), each Security consisting of one common share in the capital of the
      Company and one full share purchase warrant (the “Warrant”), for aggregate
      proceeds of USD$1,000,000
      (the
“Funds”), all on the terms and subject to the conditions set forth in this
      Agreement, as defined herein. Each Warrant entitles the Subscriber to purchase
      one additional common share (the “Warrant Share”) in the capital of the Company
      for a period of two years from the issuance of the Securities, at a price of
      USD$2.00;

     

    B.  The
      Company desires to accept the Purchaser’s subscription for the
      Securities;

     

    C.  The
      Company intends to enter into that certain merger agreement, as amended and
      restated, with Sekoya Holdings, Ltd., a Nevada Corporation (the “Merger
      Agreement”);

     

    D.  It
      is the
      intention of the parties to this Agreement that the Securities shall not be
      issued or exercisable until after the effectiveness of the merger contemplated
      by the Merger Agreement; 

     

    E.  It
      is the
      intention of the parties to this Agreement that this subscription will be made
      pursuant to appropriate exemptions (the "Exemptions") from the registration
      and
      prospectus or equivalent requirements of all rules, policies, notices, orders
      and legislation of any kind whatsoever (collectively the “Securities Rules”) of
      all jurisdictions applicable to this subscription; and

     

    F.  This
      investment involves risk and the parties hereto acknowledge that the Purchaser
      may be restricted from selling the Securities at any time in the future, except
      as otherwise provided herein.

     

    NOW
      THEREFORE THIS AGREEMENT WITNESSES that
      in
      consideration of the mutual covenants and agreements herein contained (the
      “Agreement”), the receipt of which is hereby acknowledged, the parties covenant
      and agree with each other as follows:

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    1. Subscription. The
      Purchaser hereby irrevocably subscribes for and agrees to purchase 2,000,000
      units
      (the “Securities”) of the Company, each Security consisting of one common share
      in the capital of the Company and one full share purchase warrant (the
“Warrant”), for aggregate proceeds of USD$1,000,000
      (the
“Funds”), all on the terms and subject to the conditions set forth in this
      Agreement, and as further set out on Schedule “A” hereto. Each Warrant entitles
      the Subscriber to purchase one additional common share (the “Warrant Share”) in
      the capital of the Company for a period of two years from the issuance of the
      Securities, at a price of USD$2.00,
      as
      further set out on Schedule “B” hereto.
      Together with this Agreement, the Purchaser is delivering to the Company the
      full amount of the purchase price for the Securities in respect of which it
      is
      subscribing. The offering of Securities by the Company to the Purchaser (the
      “Offering”) is being conducted in reliance upon the exemption from registration
      requirements of the Securities Act of 1933 (the “Act”) set forth in Regulation S
      promulgated under the Act. The amounts paid by Purchaser hereunder shall be
      a
      non-interest bearing subscription advanced by Purchaser for which the Company’s
      only obligation is to issue the Securities.

    

    A. The
      Securities shall not be issued, and the Warrants shall not be exercisable,
      until
      after the effectiveness of the merger contemplated by the Merger Agreement.
      The
      number of Securities issuable hereunder shall be calculable in accordance with
      the post-merger capitalization of the Company.

    

    2. Representations
      and Warranties of the Purchaser.
      In order
      to induce the Company to enter into this Agreement, the Purchaser hereby
      represents and warrants to, and covenants with, the Company as
      follows: 

    

    A. The
      Purchaser is purchasing the Securities for the Purchaser’s own account (not as a
      nominee or agent) for investment purposes and not with a view towards resale
      or
      distribution of any part thereof. The Purchaser has no present arrangement
      or
      intention to sell or distribute the Securities, or to grant participation in
      the
      Securities. The Purchaser does not have any contract, undertaking, agreement
      or
      arrangement with any person to sell, transfer or grant participation to such
      person, or to any third person, with respect to any of the Securities sold
      hereby;

    

    B. The
      Purchaser acknowledges and agrees that the United States Securities &
Exchange Commission has not reviewed the Offering and that the Securities have
      not been registered under the Act and may not be offered or sold in the United
      States or to U.S. persons unless the Securities are registered under the Act,
      sold in accordance with the provisions of Regulation S of the Act or pursuant
      to
      an available exemption from registration. The certificate representing the
      Securities or any shares issued upon exercise of the Warrants will
      bear
      the following legend and the Purchaser agrees to abide by the terms
      thereof:

    

    The
      Securities (and any shares issuable upon exercise of warrants) represented
      hereby have not been registered under the Securities Act of 1933 (the “Act”),
      and have been issued in reliance upon an exemption from the registration
      requirements of the Act provided by Regulation S promulgated under the Act.
      Such
      Securities (and any shares issuable upon exercise of warrants) may not be
      re-offered for sale or resold or otherwise transferred except in accordance
      with
      the provisions of Regulation S, pursuant to an effective registration under
      the
      Act, or pursuant to an available exemption from registration under the Act.
      Hedging transactions involving the Securities (and any shares issuable upon
      exercise of warrants) may not be conducted unless in compliance with the
      Act.

    

    C. The
      Purchaser has had the opportunity to ask and receive answers to any and all
      questions the Purchaser has had with respect to the Company, its business plan,
      management, current financial condition and the Offering. The Purchaser
      acknowledges that the Company will likely require additional capital to complete
      its business plan and that there is no assurance that the Company can obtain
      additional capital or successfully complete its business objectives

    

    D. The
      Purchaser is an accredited investor and has such knowledge and expertise in
      financial and business matters that the Purchaser is capable of evaluating
      the
      merits and risks involved in an investment in the Securities and acknowledges
      that an investment in the Securities entails a number of very significant risks
      and the Purchaser is able to withstand the total loss of its investment. The
      Purchaser acknowledges that the Company has recommended that each Purchaser
      obtain independent legal and financial advice prior to subscribing, including
      but not limited to advice as to the legality of any resale of the Securities,
      as
      well as the suitability of the investment for the Purchaser;

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    E. Except
      as
      set forth in this Agreement, no representations or warranties have been made
      to
      the Purchaser by the Company or any agent, employee or affiliate of the Company
      and in entering into this transaction the Purchaser is not relying upon any
      information, other than that contained in this Agreement and the result of
      independent investigation by the Purchaser;

    

    F. The
      Purchaser understands that the Securities are being offered and sold to it
      in
      reliance on specific exemptions from the registration requirements of the United
      States Federal and State securities laws and that the Company is relying upon
      the truth and accuracy of the representations, warranties, agreements,
      acknowledgments and understandings of the Purchaser set forth herein in order
      to
      determine the applicability of such exemptions and the suitability of the
      Purchaser to acquire the Securities;

    

    G. The
      Purchaser has full power and authority to execute and deliver this Agreement
      and
      to perform its obligations hereunder, and this Agreement is a legally binding
      obligation of the Purchaser enforceable against the Purchaser in accordance
      with
      its terms; 

    

    H. The
      Purchaser is not purchasing the Securities as a result of any advertisement
      of
      the Offering or any other advertising conducted by or on behalf of the Company;
      

    

    I. This
      subscription for the Securities has not been induced by any representations
      or
      warranties by any person whatsoever with regard to the future value of the
      Company's securities;

    

    J. The
      Purchaser is not a “U.S. Person” as defined by Regulation S of the Act and is
      not acquiring the Securities for the account or benefit of a U.S. Person. A
“U.
      S. Person” is defined by Regulation S of the Act to be any person who
      is:

    

    
      	 	
              (i)

            	
              any
                natural person resident in the United
                States;

            

    

    

    
      	 	
              (ii)

            	
              any
                partnership or corporation organized or incorporated under the laws
                of the
                United States;

            

    

    
      

      
        	 	
                (iii)

              	
                any estate of which any executor
                  or
                  administrator is a U.S. person;

              

      

      
        

        
          	 	
                  (iv)

                	
                  any trust of which any trustee
                    is a U.S.
                    person;

                

        

        
          

          
            	 	
                    (v)

                  	
                    any agency or branch of
                      a foreign entity
                      located in the United States;

                  

          

          
            

            
              	 	
                      (vi)

                    	
                      any
                        non-discretionary account or similar
                        account (other than an estate or trust) held by a dealer
                        or other
                        fiduciary organized, incorporated, or (if an individual)
                        a resident of the
                        United States; and

                    

            

            
              

              
                	 	
                        (vii)

                      	
                        any partnership or
                          corporation
                          if:

                      

              

               

            

          

        

      

    

    1. organized
      or incorporated under the laws of any foreign jurisdiction; and

    

    2.
      formed
      by a U.S. person principally for the purpose of investing in securities not
      registered under the Act, unless it is organized or incorporated, and owned,
      by
      accredited investors [as defined in Section 230.501 (a) of the Act] who are
      not
      natural persons, estates or trusts.

    

    
      	
              K.

            	
              The
                Purchaser agrees not to engage in hedging transactions with regard
                to the
                Securities unless in compliance with the Act;
                and

            

    

    

    
      	
              L.

            	
              The
                Purchaser agrees to execute an agreement imposing restrictions on
                transfer
                of the Securities in the form the Company
                requires.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    3. Representations
      of the Company.
      The
      Company represents and warrants to the Purchaser that:

    

    A. The
      Company is duly incorporated under the laws of the State of Delaware and is
      in
      good standing in accordance with all applicable federal and state
      laws;

    

    B. The
      execution, delivery and performance of this Agreement by the Company and the
      performance of its obligations hereunder do not and will not constitute a breach
      or violation of any of the terms and provisions of, or constitute a default
      under or conflict with or violate any provisions of (i) the Company’s Articles
      of Incorporation or By-laws, (ii) any indenture, mortgage, deed of trust,
      agreement or any instrument to which the Company is a party or by which it
      or
      any of its property is bound, (iii) any applicable statute or regulation, or
      (iv) any judgment, decree or order of any court or government body having
      jurisdiction over the Company or any of its property;

    

    C. The
      execution, delivery and performance of this Agreement and the consummation
      of
      the issuance of the Securities and the transactions contemplated by this
      Agreement are within the Company’s corporate powers and have been duly
      authorized by all necessary corporate and stockholder action on behalf of the
      Company;

    

    D. There
      is
      no action, suit or proceeding before or by any court or governmental agency
      or
      body, domestic or foreign, now pending or, to the knowledge of the Company,
      threatened against or affecting the Company or any of its properties, which
      might result in any material adverse change in the condition (financial or
      otherwise) or in the earnings, business affairs or business prospects of the
      Company, or which might materially or adversely affect the properties or assets
      thereof;

    

    E. The
      Company is not in default in the performance or observance of any material
      obligation agreement, covenant or condition contained in any material indenture,
      mortgage, deed of trust or other material instrument or agreement to which
      it is
      a party or by which it or its property may be bound; and neither the execution,
      nor the delivery by the Company, nor the performance by the Company of its
      obligations under this Agreement will conflict with or result in the breach
      or
      violation of any of the terms or provisions of, or constitute a default or
      result in the creation or imposition of a lien or charge on any assets or
      properties of the Company under any material deed of trust or other material
      agreement or instrument to which the Company is party or by which it is bound
      or
      any statute or the Articles of Incorporation or By-laws of the Company, or
      any
      decree, judgment, order, ruling or regulation of any court or government agency
      or body having jurisdiction over the Company or its properties;

    

    F. There
      is
      no fact known to the Company (other than general economic conditions known
      to
      the public generally) that has not been disclosed in writing to the Purchaser
      that (i) could reasonably be expected to have a material adverse effect on
      the
      condition (financial or otherwise) or on the earnings, business affairs,
      business prospects, properties or assets of the Company, or (ii) could
      reasonably be expected to materially and adversely affect the ability of the
      Company to perform its obligations pursuant to this Agreement.

     

    4. Registration
      of Securities and Conversion.
      If the
      Company files a registration statement with the SEC in the United States in
      respect of securities of the same type and class as those held by or to be
      issued to the Purchaser at the time of such filing, the Company will to the
      fullest extent permitted by applicable securities laws, include the registration
      of the Securities held by and to be issued to the Purchaser under such
      securities registration. Further,
      should the Company enter into a definitive agreement with a publicly traded
      company other than Sekoya Holdings, Ltd. (“Pubco”), the Securities held by or to
      be issued to the Purchaser under this Agreement shall be converted on a
one
      to one
      basis for the securities of the same type and class as those held by or to
      be
      issued to the Purchaser, in capital of Pubco, irrespective of any other exchange
      ratio set out in that definitive agreement. 

    

    5. Non-Binding
      Until Accepted. The
      Purchaser understands that this subscription is not binding upon the Company
      until the Company accepts it, which acceptance is at the sole discretion of
      the
      Company and is to be evidenced by the Company’s execution of this Agreement
      where indicated. .

    

    6. Non-Assignability. Neither
      this Agreement nor any of the rights of the Purchaser hereunder may be
      transferred or assigned by the Purchaser, with the exception of the
      transferability of the Warrants, subject to certain securities restrictions,
      as
      further set out on Schedule “B.” Moreover, the Company shall refuse to register
      any transfer of the common stock not made in accordance with the provisions
      of
      Regulation S, pursuant to registration under the Act, or pursuant to an
      available exemption from registration.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    7. Modification/Entire
      Agreement. This
      Agreement: (i) may only be modified by a written amendment executed by the
      Purchaser and the Company: (ii) sets forth the entire agreement and
      understanding between the Purchaser and the Company with respect to the subject
      matter hereof; and (iii) shall enure to the heirs, legal representatives,
      successors and permitted assigns or each party hereto.

    

    8. Governing
      Law. This
      Agreement will be construed and enforced in accordance with and governed by
      the
      laws of the State of Delaware.

    

    9. Notices.
      All
      Notices or other communication hereunder shall be in writing and shall be deemed
      to have been duly given if delivered personally (including courier service)
      or
      mailed by certified or registered mail, return receipt requested, postage
      prepaid.

     

    10. Time. For
      the
      purposes of this Agreement, time is of the essence.

     

    11. Delivery.
      The
      parties hereto shall execute and deliver all such further documents and
      instruments and do all such acts and things as may, either before or after
      the
      execution of this Agreement, be reasonably required to carry out the full intent
      and meaning of this Agreement.

     

    11. Minor
      Omissions.
      The
      Purchaser hereby authorizes the Company to correct any minor errors in, or
      complete any minor information missing from, any document which has been
      executed by the Purchaser and delivered to the Company with respect to this
      subscription.

     

    13. Counterpart
      Execution.
      This
      Agreement may be signed by the parties in counterpart and by fax.

    

     

    IN
      WITNESS WHEREOF
      the
      parties have executed this written Agreement effective as of the Effective
      Date.

     

     

    SIGNED,
      SEALED AND DELIVERED BY:

     

    MYECHECK,
      INC.

     

    Per:

    __________________________

    Authorized
      Signatory

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      “A”

     

    TO
      BE COMPLETED BY THE PURCHASER:

     

    A. Subscription
      Amount.

     

    
      	
              Subscription:

            	
              2,000,000
                UNITS

            	 
	
              Subscription
                Price Per Unit:

            	
              USD$0.50

            	 
	
              Subscription
                Funds:

            	
              USD$1,000,000

            	 

    

     

    
      	
              B.

            	
              Name
                and Address.
                The name and address (to establish the Purchaser's jurisdiction of
                residence for the purpose of determining the applicable Securities
                Rules)
                of the Purchaser is as follows:

            

    

     

    ____Anshan
      Finance Ltd._______

    Name

     

    ______Jasmine
      Court __________

    Street
      Address

     

    ______35A
      Regent Street _______

    

    __Belize
      City, Belize____________

    City,
      State, Country, Zip Code

     

    
      	
              C.

            	
              Registration
                Instructions.
                The name and address of the person in whose name the Purchaser's
                securities are to be registered is as follows (if the name and address
                is
                the same as was inserted in paragraph B above, then insert "see B
                above"):

            

    

     

    “See
      B
      above”____________________________

    Name

    ________________________________________

    Street
      Address

    ________________________________________

    

    ________________________________________

    City,
      State, Country, Zip Code

     

    
      	
              D.

            	
              Delivery
                Instructions.
                The name and address of the person to whom the certificates representing
                the Purchaser's securities referred to in paragraph B above are to
                be
                delivered is as follows (if the name and address is the same as was
                inserted in paragraph B or C above, then insert "see B above" or
                "see C
                above", as the case may be):

            

    

     

    ____St.
      Peter Law _____________

    Name

    ______St
      Peterstrausse 1________

    Street
      Address

    ______CH
      -
      8022 Zurich ________

    

    ______Switzerland
      ____________

    City,
      State, Country, Zip Code

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    E. The
      Purchaser further acknowledges and agrees that:

     

    
      	(a)  	
              purchasing,
                holding and disposing of the Securities may have tax consequences
                under
                the laws of both the Purchaser’s country and the United States, and the
                Purchaser is solely responsible for determining the tax consequences
                applicable to Purchaser’s particular circumstances and Purchaser should
                consult Purchaser’s tax advisors concerning investment in the Securities;
                and

            

    

     

    
      	(b)  	
              the
                Securities (and any underlying securities which those securities
                are
                convertible into) are "restricted securities" within the meaning
                of the
                U.S. Securities Act (and applicable state securities laws) and may
                not be
                sold or transferred unless they are subsequently registered under
                the U.S.
                Securities Act or any exemption from such registration is available
                and
                the certificates representing the securities will bear a legend to
                reflect
                these restrictions.

            

    

     

    TO
      BE COMPLETED AND SIGNED BY THE PURCHASER:

     

     

    SIGNED,
      SEALED AND DELIVERED BY:

     

    __________________________________________________

    Name
      of
      the "Purchaser" - use the name inserted in

    paragraph
      B above.

     

    Per:

     

    _________________________________

    PURCHASER

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      “B”

     

    
      	2,000,000 Common Shares	 	
              Void
                after

            
	Without Par Value	 	
              u,
                2010.

            

    

     

    SHARE
      PURCHASE WARRANT

     

    MYECHECK,
      INC.

    (the
      "Company")

     

     

    This
      is
      to certify that, for value received, Anshan
      Finance Ltd.
      (the
      "Warrant Holder") of Jasmine
      Court, 35A Regent Street, Belize City, Belize
      has the
      right to purchase from the Company, upon and subject to the terms and conditions
      hereinafter referred to, 2,000,000
      common
      shares without par value (the "Shares") in the capital of the Company based
      on
      its capitalization following effectiveness of the merger contemplated by the
      Merger Agreement, as defined in that certain subscription agreement between
      the
      Company and Warrant Holder (the “Subscription Agreement”). The Shares may be
      purchased at a price of USD $2.00 (the "Exercise Price") per Share after the
      effectiveness of the merger contemplated by the Merger Agreement and up to
      5:00
      p.m. local time in Vancouver, B.C. on l,
      2010.
      The right to purchase the Shares may be exercised in whole or in part, by the
      Warrant Holder only, at the Exercise Price within the times set forth above
      by:

     

    
      	(a)  	
              completing
                and executing the form (the "Subscription Form") attached hereto
                for the
                number of the Shares which the Warrant Holder wishes to purchase,
                in the
                manner therein indicated;

            

    

     

    
      	(b)  	
              surrendering
                this Warrant Certificate, together with the complete Subscription
                Form, to
                l[Full
                Name of Transfer Agent] (the "Transfer Agent") at l[Address];
                and

            

    

     

    
      	(c)  	
              paying
                the appropriate Exercise Price, in United States funds, for the number
                of
                the Shares of the Company subscribed for, either by certified cheque
                or
                bank draft (drawn on a United States or International Chartered Bank)
                or
                money order payable to the Company at its address of
                record.

            

    

     

    Upon
      surrender and payment, the Company shall issue to the Warrant Holder or to
      such
      other person or persons as the Warrant Holder may direct, the number of the
      Shares subscribed for and will deliver to the Warrant Holder, at the address
      set
      forth on the subscription form, a certificate or certificates evidencing the
      number of the Shares subscribed for. If the Warrant Holder subscribes for a
      number of Shares which is less than the number of Shares permitted by this
      Warrant, the Company shall forthwith cause to be delivered to the Warrant Holder
      a further Warrant Certificate in respect of the balance of Shares referred
      to in
      this Warrant Certificate not then being subscribed for.

     

    After
      the
      Effective Date, as defined in the Subscription Agreement, and after giving
      effect to the merger contemplated by the Merger Agreement, in the event of
      any
      subdivision of the common shares of the Company (as such common shares are
      constituted on the date hereof) into a greater number of common shares while
      this Warrant is outstanding, the number of Shares represented by this Warrant
      shall thereafter be deemed to be subdivided in like manner and the Exercise
      Price adjusted accordingly, and any subscription by the Warrant Holder for
      Shares hereunder shall be deemed to be a subscription for common shares of
      the
      Company as subdivided. 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    After
      the
      Effective Date and after giving effect to the merger contemplated by the Merger
      Agreement, in the event of any consolidation of the common shares of the Company
      (as such common shares are constituted on the date hereof) into a lesser number
      of common shares while this Warrant is outstanding, the number of Shares
      represented by this Warrant shall thereafter be deemed to be consolidated in
      like manner and the Exercise Price adjusted accordingly, and any subscription
      by
      the Warrant Holder for Shares hereunder shall be deemed to be a subscription
      for
      common shares of the Company as consolidated.

     

    After
      the
      Effective Date and after giving effect to the merger contemplated by the Merger
      Agreement, in the event of any capital reorganization or reclassification of
      the
      common shares of the Company or the merger or amalgamation of the Company with
      another corporation at any time while this Warrant is outstanding, the Company
      shall thereafter deliver at the time of purchase of the Shares hereunder the
      number of common shares the Warrant Holder would have been entitled to receive
      in respect of the number of the Shares so purchased had the right to purchase
      been exercised before such capital reorganization or reclassification of the
      common shares of the Company or the merger or amalgamation of the Company with
      another corporation.

     

    If
      at any
      time after the Effective Date and after giving effect to the merger contemplated
      by the Merger Agreement, while this, or any replacement, Warrant is
      outstanding:

     

    
      	(a)  	
              the
                Company proposes to pay any dividend of any kind upon its common
                shares or
                make any distribution to the holders of its common
                shares;

            

    

     

    
      	(b)  	
              the
                Company proposes to offer for subscription pro rata to the holders
                of its
                common shares any additional shares of stock of any class or other
                rights;

            

    

     

    
      	(c)  	
              the
                Company proposes any capital reorganization or classification of
                its
                common shares or the merger or amalgamation of the Company with another
                corporation; or

            

    

     

    
      	(d)  	
              there
                is a voluntary or involuntary dissolution, liquidation or winding-up
                of
                the Company;

            

    

     

    the
      Company shall give to the Warrant Holder at least seven days prior written
      notice (the "Notice") of the date on which the books of the Company are to
      close
      or a record is to be taken for such dividend, distribution or subscription
      rights, or for determining rights to vote with respect to such reorganization,
      reclassification, consolidation, merger, amalgamation, dissolution, liquidation
      or winding-up. The Notice shall specify, in the case of any such dividend,
      distribution or subscription rights, the date on which holders of common shares
      of the Company will be entitled to exchange their common shares for securities
      or other property deliverable upon any reorganization, reclassification,
      consolidation, merger, amalgamation, sale, dissolution, liquidation or
      winding-up, as the case may be. Each Notice shall be delivered by hand,
      addressed to the Warrant Holder at the address of the Warrant Holder set forth
      above or at such other address as the Warrant Holder may from time to time
      specify to the Company in writing.

     

    The
      holding of this Warrant Certificate or the Warrants represented hereby does
      not
      constitute the Warrant Holder a member of the Company.

     

    Nothing
      contained herein confers any right upon the Warrant Holder or any other person
      to subscribe for or purchase any Shares of the Company at any time subsequent
      to
      5:00 p.m. local time in l,
      California on l[Date]
      and from
      and after such time, this Warrant and all rights hereunder will be
      void.

     

    The
      Warrants represented by this Warrant Certificate are not transferable unless
      the
      transfer is made in accordance with the provisions of Regulation S, pursuant
      to
      registration under the Act, or pursuant to an available exemption from
      registration. This Warrant Certificate and any Shares issued upon exercise
      of
      this Warrant will bear the following legend:

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    The
      Securities (and any shares issuable upon exercise of warrants) represented
      hereby have not been registered under the Securities Act of 1933 (the “Act”),
      and have been issued in reliance upon an exemption from the registration
      requirements of the Act provided by Regulation S promulgated under the Act.
      Such
      Securities (and any shares issuable upon exercise of warrants) may not be
      re-offered for sale or resold or otherwise transferred except in accordance
      with
      the provisions of Regulation S, pursuant to an effective registration under
      the
      Act, or pursuant to an available exemption from registration under the Act.
      Hedging transactions involving the Securities (and any shares issuable upon
      exercise of warrants) may not be conducted unless in compliance with the
      Act.

     

    Time
      will
      be of the essence hereof.

     

    This
      Warrant Certificate is not valid for any purpose until it has been signed by
      the
      Company.

     

    IN
      WITNESS WHEREOF, the Company has caused its common seal to be hereto affixed
      and
      this Warrant Certificate to be signed by any one of the directors of the Company
      as of the l
      day of
l,
      2008.

     

    MYECHECK,
      INC.

     

    Per:

     

    _________________________

    ED
      STARRS

    President/CEO,
      Director

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    SUBSCRIPTION
      FORM

     

    To: MYECHECK,
      INC. (the "Company")

     

    And
      to: The
      Directors Thereof.

     

    Pursuant
      to the Share Purchase Warrant made the l
      day of
l,
      2008
      the undersigned hereby subscribes for and agrees to take up _______________
      common shares without par value (the "Shares") in the capital of the Company,
      at
      a price of $2.00
      (USD)
      per Share for the aggregate sum of $_______________ (the "Subscription Funds"),
      and encloses herewith a certified cheque, bank draft or money order payable
      to
      the Company in full payment of the Shares.

     

    The
      undersigned (the "Subscriber") hereby requests that upon receipt of the
      Subscription Funds by the Company:

     

    
      	(a)  	
              the
                Shares be allotted to the person set out under the registration directions
                shown below;

            

    

     

    
      	(b)  	
              the
                name and address of the person set out under the registration directions
                shown below be entered in the registers of members and allotments
                of the
                Company;

            

    

     

    
      	(c)  	
              the
                Shares be issued to the person set out under the registration directions
                shown as fully paid and non-assessable common shares of the Company;
                and

            

    

     

    
      	(d)  	
              a
                share certificate representing the Shares be registered in accordance
                with
                the registration directions shown
                below.

            

    

     

    Dated
      this _______ day of ______________, 200__.

     

     

    DIRECTION
      AS TO REGISTRATION:

     

    (Name
      and address exactly
      as you wish them to appear on the share certificate representing the Shares
      and
      in the register of members.)

     

    Full
      Name :_______________________________________________________________________

     

    Full
      Address:_____________________________________________________________________

     

    Signature
      of
      Subscriber:_____________________________________________________________

     

    
      	
               

               

              If
                the name above differs from the name of the Subscriber, then please
                complete the following guarantee:

            	
              Signature
                of Subscriber guaranteed by:

               

               

              _______________________________

              Authorized
                Signature Number

            

    

     

    NOTE:
      The
      signature to this Subscription Form must correspond with the name as recorded
      on
      the Warrant Certificate accompanying this Subscription Form in every particular
      without alteration or enlargement or any change whatever. If not, the signature
      of the person executing this power must be guaranteed by a Bank or Trust Company
      or by a Member of a Professional Bar or Law Association or other entity
      acceptable to the Company’s Transfer Agent.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      PRIVATE
        PLACEMENT SUBSCRIPTION AGREEMENT

      (for
        completion by non-United States residents)

      

      MYECHECK,
        INC.

      

       

      THIS
        AGREEMENT MADE EFFECTIVE as
        of the
        ___ day of _______________, 2008 (the "Effective Date").

       

      BETWEEN:
        

       

      MYECHECK,
        INC.,
        a
        private Delaware corporation with offices at Suite 5, 1190 Suncast Lane,
        El
        Dorado Hills, CA 95762;

       

      (the
        “Company”)

       

      AND:

       

      THE
        PURCHASER
        NAMED AND SIGNING

      AS
        PURCHASER ON SCHEDULE “A” HERETO.

       

      (the
        “Purchaser”)

       

      

      WHEREAS:

       

      A.  The
        Purchaser wishes to and hereby subscribes for and agrees to purchase the
        2,000,000
        units
        (the “Securities”) of the Company (based on its capitalization following
        effectiveness of the merger contemplated by the Merger Agreement, as defined
        below), each Security consisting of one common share in the capital of the
        Company and one full share purchase warrant (the “Warrant”), for aggregate
        proceeds of USD$1,000,000
        (the
“Funds”), all on the terms and subject to the conditions set forth in this
        Agreement, as defined herein. Each Warrant entitles the Subscriber to purchase
        one additional common share (the “Warrant Share”) in the capital of the Company
        for a period of three years from the issuance of the Securities, at a price
        of
        USD$4.00;

       

      B.  The
        payment for the Securities shall be carried out pursuant to the payment schedule
        (the “Payment Schedule”) as set out on Schedule “C”, hereto, and the Company, at
        all times will reserve and keep available such number of shares of Securities
        as
        shall be sufficient to satisfy the requirements of this Agreement.

       

      C.  The
        Company desires to accept the Purchaser’s subscription for the
        Securities;

       

      D.  The
        Company intends to enter into that certain merger agreement, as amended and
        restated, with Sekoya Holdings, Ltd., a Nevada Corporation (the “Merger
        Agreement”);

       

      E.  It
        is the
        intention of the parties to this Agreement that the Securities shall not
        be
        issued or exercisable until after the effectiveness of the merger contemplated
        by the Merger Agreement;

       

      F.  It
        is the
        intention of the parties to this Agreement that this subscription will be
        made
        pursuant to appropriate exemptions (the "Exemptions") from the registration
        and
        prospectus or equivalent requirements of all rules, policies, notices, orders
        and legislation of any kind whatsoever (collectively the “Securities Rules”) of
        all jurisdictions applicable to this subscription; and

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      G.  This
        investment involves risk and the parties hereto acknowledge that the Purchaser
        may be restricted from selling the Securities at any time in the future,
        except
        as otherwise provided herein.

       

      NOW
        THEREFORE THIS AGREEMENT WITNESSES that
        in
        consideration of the mutual covenants and agreements herein contained (the
        “Agreement”), the receipt of which is hereby acknowledged, the parties covenant
        and agree with each other as follows:

       

      1. Subscription. The
        Purchaser hereby irrevocably subscribes for and agrees to purchase 2,000,000
        units
        (the “Securities”) of the Company, each Security consisting of one common share
        in the capital of the Company and one full share purchase warrant (the
“Warrant”), for aggregate proceeds of USD$1,000,000
        (the
“Funds”), all on the terms and subject to the conditions set forth in this
        Agreement, and as further set out on Schedule “A” hereto. Each Warrant entitles
        the Subscriber to purchase one additional common share (the “Warrant Share”) in
        the capital of the Company for a period of three years from the issuance
        of the
        Securities, at a price of USD$4.00,
        as
        further set out on Schedule “B” hereto.
        Together with this Agreement, the Purchaser is delivering to the Company
        the
        full amount of the purchase price for the Securities in respect of which
        it is
        subscribing. The offering of Securities by the Company to the Purchaser (the
        “Offering”) is being conducted in reliance upon the exemption from registration
        requirements of the Securities Act of 1933 (the “Act”) set forth in Regulation S
        promulgated under the Act. The amounts paid by Purchaser hereunder shall
        be a
        non-interest bearing subscription advanced by Purchaser for which the Company’s
        only obligation is to issue the Securities.

      

      A. The
        Securities shall not be issued, and the Warrants shall not be exercisable,
        until
        after the effectiveness of the merger contemplated by the Merger Agreement.
        The
        number of Securities issuable hereunder shall be calculable in accordance
        with
        the post-merger capitalization of the Company.

      

      2. Representations
        and Warranties of the Purchaser.
        In order
        to induce the Company to enter into this Agreement, the Purchaser hereby
        represents and warrants to, and covenants with, the Company as
        follows: 

      

      A. The
        Purchaser is purchasing the Securities for the Purchaser’s own account (not as a
        nominee or agent) for investment purposes and not with a view towards resale
        or
        distribution of any part thereof. The Purchaser has no present arrangement
        or
        intention to sell or distribute the Securities, or to grant participation
        in the
        Securities. The Purchaser does not have any contract, undertaking, agreement
        or
        arrangement with any person to sell, transfer or grant participation to such
        person, or to any third person, with respect to any of the Securities sold
        hereby;

      

      B. The
        Purchaser acknowledges and agrees that the United States Securities &
Exchange Commission has not reviewed the Offering and that the Securities
        have
        not been registered under the Act and may not be offered or sold in the United
        States or to U.S. persons unless the Securities are registered under the
        Act,
        sold in accordance with the provisions of Regulation S of the Act or pursuant
        to
        an available exemption from registration. The certificate representing the
        Securities or any shares issued upon exercise of the Warrants will
        bear
        the following legend and the Purchaser agrees to abide by the terms
        thereof:

      

      The
        Securities (and any shares issuable upon exercise of warrants) represented
        hereby have not been registered under the Securities Act of 1933 (the “Act”),
        and have been issued in reliance upon an exemption from the registration
        requirements of the Act provided by Regulation S promulgated under the Act.
        Such
        Securities (and any shares issuable upon exercise of warrants) may not be
        re-offered for sale or resold or otherwise transferred except in accordance
        with
        the provisions of Regulation S, pursuant to an effective registration under
        the
        Act, or pursuant to an available exemption from registration under the Act.
        Hedging transactions involving the Securities (and any shares issuable upon
        exercise of warrants) may not be conducted unless in compliance with the
        Act.

      

      C. The
        Purchaser has had the opportunity to ask and receive answers to any and all
        questions the Purchaser has had with respect to the Company, its business
        plan,
        management, current financial condition and the Offering. The Purchaser
        acknowledges that the Company will likely require additional capital to complete
        its business plan and that there is no assurance that the Company can obtain
        additional capital or successfully complete its business
        objectives.

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      D. The
        Purchaser is an accredited investor and has such knowledge and expertise
        in
        financial and business matters that the Purchaser is capable of evaluating
        the
        merits and risks involved in an investment in the Securities and acknowledges
        that an investment in the Securities entails a number of very significant
        risks
        and the Purchaser is able to withstand the total loss of its investment.
        The
        Purchaser acknowledges that the Company has recommended that each Purchaser
        obtain independent legal and financial advice prior to subscribing, including
        but not limited to advice as to the legality of any resale of the Securities,
        as
        well as the suitability of the investment for the Purchaser;

      

      E. Except
        as
        set forth in this Agreement, no representations or warranties have been made
        to
        the Purchaser by the Company or any agent, employee or affiliate of the Company
        and in entering into this transaction the Purchaser is not relying upon any
        information, other than that contained in this Agreement and the result of
        independent investigation by the Purchaser;

      

      F. The
        Purchaser understands that the Securities are being offered and sold to it
        in
        reliance on specific exemptions from the registration requirements of the
        United
        States Federal and State securities laws and that the Company is relying
        upon
        the truth and accuracy of the representations, warranties, agreements,
        acknowledgments and understandings of the Purchaser set forth herein in order
        to
        determine the applicability of such exemptions and the suitability of the
        Purchaser to acquire the Securities;

      

      G. The
        Purchaser has full power and authority to execute and deliver this Agreement
        and
        to perform its obligations hereunder, and this Agreement is a legally binding
        obligation of the Purchaser enforceable against the Purchaser in accordance
        with
        its terms; 

      

      H. The
        Purchaser is not purchasing the Securities as a result of any advertisement
        of
        the Offering or any other advertising conducted by or on behalf of the Company;
        

      

      I. This
        subscription for the Securities has not been induced by any representations
        or
        warranties by any person whatsoever with regard to the future value of the
        Company's securities;

      

      J. The
        Purchaser is not a “U.S. Person” as defined by Regulation S of the Act and is
        not acquiring the Securities for the account or benefit of a U.S. Person.
        A “U.
        S. Person” is defined by Regulation S of the Act to be any person who
        is:

      

      
        	 	
                (i)

              	
                any
                  natural person resident in the United
                  States;

              

      

      

      
        	 	
                (ii)

              	
                any
                  partnership or corporation organized or incorporated under the
                  laws of the
                  United States;

              

      

       

      
        
          	 	
                  (iii)

                	
                  any estate of which any executor
                    or
                    administrator is a U.S. person;

                

        

        
          

          
            	 	
                    (iv)

                  	
                    any trust of which any
                      trustee is a U.S.
                      person;

                  

          

          
            

            
              	 	
                      (v)

                    	
                      any agency or branch
                        of a foreign entity
                        located in the United States;

                    

            

            
              

              
                	 	
                        (vi)

                      	
                        any
                          non-discretionary account or similar
                          account (other than an estate or trust) held by a dealer
                          or other
                          fiduciary organized, incorporated, or (if an individual)
                          a resident of the
                          United States; and

                      

              

              
                

                
                  	 	
                          (vii)

                        	
                          any partnership or
                            corporation
                            if:

                        

                

                
                   

                

              

            

          

        

      

      1. organized
        or incorporated under the laws of any foreign jurisdiction; and

      

      2.
        formed
        by a U.S. person principally for the purpose of investing in securities not
        registered under the Act, unless it is organized or incorporated, and owned,
        by
        accredited investors [as defined in Section 230.501 (a) of the Act] who are
        not
        natural persons, estates or trusts.

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      
        	
                K.

              	
                The
                  Purchaser agrees not to engage in hedging transactions with regard
                  to the
                  Securities unless in compliance with the Act;
                  and

              

      

      

      
        	
                L.

              	
                The
                  Purchaser agrees to execute an agreement imposing restrictions
                  on transfer
                  of the Securities in the form the Company
                  requires.

              

      

      

      3. Representations
        of the Company.
        The
        Company represents and warrants to the Purchaser that:

      

      A. The
        Company is duly incorporated under the laws of the State of Delaware and
        is in
        good standing in accordance with all applicable federal and state
        laws;

      

      B. The
        execution, delivery and performance of this Agreement by the Company and
        the
        performance of its obligations hereunder do not and will not constitute a
        breach
        or violation of any of the terms and provisions of, or constitute a default
        under or conflict with or violate any provisions of (i) the Company’s Articles
        of Incorporation or By-laws, (ii) any indenture, mortgage, deed of trust,
        agreement or any instrument to which the Company is a party or by which it
        or
        any of its property is bound, (iii) any applicable statute or regulation, or
        (iv) any judgment, decree or order of any court or government body having
        jurisdiction over the Company or any of its property;

      

      C. The
        execution, delivery and performance of this Agreement and the consummation
        of
        the issuance of the Securities and the transactions contemplated by this
        Agreement are within the Company’s corporate powers and have been duly
        authorized by all necessary corporate and stockholder action on behalf of
        the
        Company;

      

      D. There
        is
        no action, suit or proceeding before or by any court or governmental agency
        or
        body, domestic or foreign, now pending or, to the knowledge of the Company,
        threatened against or affecting the Company or any of its properties, which
        might result in any material adverse change in the condition (financial or
        otherwise) or in the earnings, business affairs or business prospects of
        the
        Company, or which might materially or adversely affect the properties or
        assets
        thereof;

      

      E. The
        Company is not in default in the performance or observance of any material
        obligation agreement, covenant or condition contained in any material indenture,
        mortgage, deed of trust or other material instrument or agreement to which
        it is
        a party or by which it or its property may be bound; and neither the execution,
        nor the delivery by the Company, nor the performance by the Company of its
        obligations under this Agreement will conflict with or result in the breach
        or
        violation of any of the terms or provisions of, or constitute a default or
        result in the creation or imposition of a lien or charge on any assets or
        properties of the Company under any material deed of trust or other material
        agreement or instrument to which the Company is party or by which it is bound
        or
        any statute or the Articles of Incorporation or By-laws of the Company, or
        any
        decree, judgment, order, ruling or regulation of any court or government
        agency
        or body having jurisdiction over the Company or its properties;

      

      F. There
        is
        no fact known to the Company (other than general economic conditions known
        to
        the public generally) that has not been disclosed in writing to the Purchaser
        that (i) could reasonably be expected to have a material adverse effect on
        the
        condition (financial or otherwise) or on the earnings, business affairs,
        business prospects, properties or assets of the Company, or (ii) could
        reasonably be expected to materially and adversely affect the ability of
        the
        Company to perform its obligations pursuant to this Agreement.

       

      4. Registration
        of Securities and Conversion.
        If the
        Company files a registration statement with the SEC in the United States
        in
        respect of securities of the same type and class as those held by or to be
        issued to the Purchaser at the time of such filing, the Company will to the
        fullest extent permitted by applicable securities laws, include the registration
        of the Securities held by and to be issued to the Purchaser under such
        securities registration. Further,
        should the Company enter into a definitive agreement with a publicly traded
        company other than Sekoya Holdings, Ltd. (“Pubco”), the Securities held by or to
        be issued to the Purchaser under this Agreement shall be converted on a
one
        to one
        basis for the securities of the same type and class as those held by or to
        be
        issued to the Purchaser, in capital of Pubco, irrespective of any other exchange
        ratio set out in that definitive agreement.

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      5. Non-Binding
        Until Accepted. The
        Purchaser understands that this subscription is not binding upon the Company
        until the Company accepts it, which acceptance is at the sole discretion
        of the
        Company and is to be evidenced by the Company’s execution of this Agreement
        where indicated. 

      

      6. Non-Assignability. Neither
        this Agreement nor any of the rights of the Purchaser hereunder may be
        transferred or assigned by the Purchaser, with the exception of the
        transferability of the Warrants, subject to certain securities restrictions,
        as
        further set out on Schedule “B.” Moreover, the Company shall refuse to register
        any transfer of the common stock not made in accordance with the provisions
        of
        Regulation S, pursuant to registration under the Act, or pursuant to an
        available exemption from registration.

      

      7. Modification/Entire
        Agreement. This
        Agreement: (i) may only be modified by a written amendment executed by the
        Purchaser and the Company: (ii) sets forth the entire agreement and
        understanding between the Purchaser and the Company with respect to the subject
        matter hereof; and (iii) shall enure to the heirs, legal representatives,
        successors and permitted assigns or each party hereto.

      

      8. Governing
        Law. This
        Agreement will be construed and enforced in accordance with and governed
        by the
        laws of the State of Delaware.

      

      9. Notices.
        All
        Notices or other communication hereunder shall be in writing and shall be
        deemed
        to have been duly given if delivered personally (including courier service)
        or
        mailed by certified or registered mail, return receipt requested, postage
        prepaid.

       

      10. Time. For
        the
        purposes of this Agreement, time is of the essence.

       

      11. Delivery.
        The
        parties hereto shall execute and deliver all such further documents and
        instruments and do all such acts and things as may, either before or after
        the
        execution of this Agreement, be reasonably required to carry out the full
        intent
        and meaning of this Agreement.

       

      11. Minor
        Omissions.
        The
        Purchaser hereby authorizes the Company to correct any minor errors in, or
        complete any minor information missing from, any document which has been
        executed by the Purchaser and delivered to the Company with respect to this
        subscription.

       

      13. Counterpart
        Execution.
        This
        Agreement may be signed by the parties in counterpart and by fax.

      

      IN
        WITNESS WHEREOF
        the
        parties have executed this written Agreement effective as of the Effective
        Date.

       

      SIGNED,
        SEALED AND DELIVERED BY:

       

      MYECHECK,
        INC.

       

      Per:

      ___________________________

      Authorized
        Signatory

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

      
 

      SCHEDULE
        “A”

       

      TO
        BE COMPLETED BY THE PURCHASER:

       

      A. Subscription
        Amount.

       

      
        	
                Subscription:

              	
                2,000,000
                  UNITS

              	 
	
                Subscription
                  Price Per Unit:

              	
                USD$0.50

              	 
	
                Subscription
                  Funds:

              	
                USD$1,000,000

              	 

      

       

      
        	
                B.

              	
                Name
                  and Address.
                  The name and address (to establish the Purchaser's jurisdiction
                  of
                  residence for the purpose of determining the applicable Securities
                  Rules)
                  of the Purchaser is as follows:

              

      

       

      ____Youngal
        Group Ltd.________

      Name

       

      ______Jasmine
        Court __________

      Street
        Address

       

      ______35A
        Regent Street _______

       

      __Belize
        City, Belize____________

      City,
        State, Country, Zip Code

       

      
        	
                C.

              	
                Registration
                  Instructions.
                  The name and address of the person in whose name the Purchaser's
                  securities are to be registered is as follows (if the name and
                  address is
                  the same as was inserted in paragraph B above, then insert "see
                  B
                  above"):

              

      

       

      “See
        B
        above”___________________

      Name

       

      ______________________________

      Street
        Address

       

      ______________________________

       

      ______________________________

      City,
        State, Country, Zip Code

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

      
        	
                D.

              	
                Delivery
                  Instructions.
                  The name and address of the person to whom the certificates representing
                  the Purchaser's securities referred to in paragraph B above are
                  to be
                  delivered is as follows (if the name and address is the same as
                  was
                  inserted in paragraph B or C above, then insert "see B above" or
                  "see C
                  above", as the case may be):

              

      

       

      ____St.
        Peter Law ________________

      Name

       

      ______St
        Peterstrausse 1__________ 

      Street
        Address

       

      ______CH
        -
        8022 Zurich ___________

       

      ______Switzerland
        _______________

      City,
        State, Country, Zip Code

       

      E. The
        Purchaser further acknowledges and agrees that:

       

      
        	(a)  	
                purchasing,
                  holding and disposing of the Securities may have tax consequences
                  under
                  the laws of both the Purchaser’s country and the United States, and the
                  Purchaser is solely responsible for determining the tax consequences
                  applicable to Purchaser’s particular circumstances and Purchaser should
                  consult Purchaser’s tax advisors concerning investment in the Securities;
                  and

              

      

       

      
        	(b)  	
                the
                  Securities (and any underlying securities which those securities
                  are
                  convertible into) are "restricted securities" within the meaning
                  of the
                  U.S. Securities Act (and applicable state securities laws) and
                  may not be
                  sold or transferred unless they are subsequently registered under
                  the U.S.
                  Securities Act or any exemption from such registration is available
                  and
                  the certificates representing the securities will bear a legend
                  to reflect
                  these restrictions.

              

      

      

       

      TO
        BE COMPLETED AND SIGNED BY THE PURCHASER:

       

      SIGNED,
        SEALED AND DELIVERED BY:

       

      __________________________________________________

       

      Name
        of
        the "Purchaser" - use the name inserted in

      paragraph
        B above.

       

      Per:

      ______________________________________

      PURCHASER

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      SCHEDULE
        “B”

       

      
        	2,000,000 Common Shares	 	
                Void
                  after

              
	Without Par Value	 	
                u,
                  2011

              

      

       

      SHARE
        PURCHASE WARRANT

       

      MYECHECK,
        INC.

      (the
        "Company")

       

      This
        is
        to certify that, for value received, Youngal
        Group Ltd.
        (the
“Warrant Holder”) of Jasmine
        Court, 35A Regent Street, Belize City, Belize
        has the
        right to purchase from the Company, upon and subject to the terms and conditions
        hereinafter referred to, 2,000,000
        common
        shares without par value (the "Shares") in the capital of the Company based
        on
        its capitalization following effectiveness of the merger contemplated by
        the
        Merger Agreement, as defined in that certain subscription agreement between
        the
        Company and Warrant Holder (the “Subscription Agreement”). The Shares may be
        purchased at a price of USD $4.00 (the “Exercise Price”) per Share after the
        effectiveness of the merger contemplated by the Merger Agreement and up to
        5:00
        p.m. local time in Vancouver, B.C. on l,
        2011.
        The right to purchase the Shares may be exercised in whole or in part, by
        the
        Warrant Holder only, at the Exercise Price within the times set forth above
        by:

       

      
        	(a)  	
                completing
                  and executing the form (the "Subscription Form") attached hereto
                  for the
                  number of the Shares which the Warrant Holder wishes to purchase,
                  in the
                  manner therein indicated;

              

      

       

      
        	(b)  	
                surrendering
                  this Warrant Certificate, together with the complete Subscription
                  Form, to
                  l[Full
                  Name of Transfer Agent] (the "Transfer Agent") at l[Address];
                  and

              

      

       

      
        	(c)  	
                paying
                  the appropriate Exercise Price, in United States funds, for the
                  number of
                  the Shares of the Company subscribed for, either by certified cheque
                  or
                  bank draft (drawn on a United States or International Chartered
                  Bank) or
                  money order payable to the Company at its address of
                  record.

              

      

       

      Upon
        surrender and payment, the Company shall issue to the Warrant Holder or to
        such
        other person or persons as the Warrant Holder may direct, the number of the
        Shares subscribed for and will deliver to the Warrant Holder, at the address
        set
        forth on the subscription form, a certificate or certificates evidencing
        the
        number of the Shares subscribed for. If the Warrant Holder subscribes for
        a
        number of Shares which is less than the number of Shares permitted by this
        Warrant, the Company shall forthwith cause to be delivered to the Warrant
        Holder
        a further Warrant Certificate in respect of the balance of Shares referred
        to in
        this Warrant Certificate not then being subscribed for.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      After
        the
        Effective Date, as defined in the Subscription Agreement, and after giving
        effect to the merger contemplated by the Merger Agreement, in the event of
        any
        subdivision of the common shares of the Company (as such common shares are
        constituted on the date hereof) into a greater number of common shares while
        this Warrant is outstanding, the number of Shares represented by this Warrant
        shall thereafter be deemed to be subdivided in like manner and the Exercise
        Price adjusted accordingly, and any subscription by the Warrant Holder for
        Shares hereunder shall be deemed to be a subscription for common shares of
        the
        Company as subdivided.

       

      After
        the
        Effective Date and after giving effect to the merger contemplated by the
        Merger
        Agreement, in the event of any consolidation of the common shares of the
        Company
        (as such common shares are constituted on the date hereof) into a lesser
        number
        of common shares while this Warrant is outstanding, the number of Shares
        represented by this Warrant shall thereafter be deemed to be consolidated
        in
        like manner and the Exercise Price adjusted accordingly, and any subscription
        by
        the Warrant Holder for Shares hereunder shall be deemed to be a subscription for
        common shares of the Company as consolidated.

       

      After
        the
        Effective Date and after giving effect to the merger contemplated by the
        Merger
        Agreement, in the event of any capital reorganization or reclassification
        of the
        common shares of the Company or the merger or amalgamation of the Company
        with
        another corporation at any time while this Warrant is outstanding, the Company
        shall thereafter deliver at the time of purchase of the Shares hereunder
        the
        number of common shares the Warrant Holder would have been entitled to receive
        in respect of the number of the Shares so purchased had the right to purchase
        been exercised before such capital reorganization or reclassification of
        the
        common shares of the Company or the merger or amalgamation of the Company
        with
        another corporation.

       

      If
        at any
        time after the Effective Date and after giving effect to the merger contemplated
        by the Merger Agreement, while this, or any replacement, Warrant is outstanding:
        

       

      
        	(a)  	
                the
                  Company proposes to pay any dividend of any kind upon its common
                  shares or
                  make any distribution to the holders of its common
                  shares;

              

      

       

      
        	(b)  	
                the
                  Company proposes to offer for subscription pro rata to the holders
                  of its
                  common shares any additional shares of stock of any class or other
                  rights;

              

      

       

      
        	(c)  	
                the
                  Company proposes any capital reorganization or classification of
                  its
                  common shares or the merger or amalgamation of the Company with
                  another
                  corporation; or

              

      

       

      
        	(d)  	
                there
                  is a voluntary or involuntary dissolution, liquidation or winding-up
                  of
                  the Company;

              

      

       

      the
        Company shall give to the Warrant Holder at least seven days prior written
        notice (the "Notice") of the date on which the books of the Company are to
        close
        or a record is to be taken for such dividend, distribution or subscription
        rights, or for determining rights to vote with respect to such reorganization,
        reclassification, consolidation, merger, amalgamation, dissolution, liquidation
        or winding-up. The Notice shall specify, in the case of any such dividend,
        distribution or subscription rights, the date on which holders of common
        shares
        of the Company will be entitled to exchange their common shares for securities
        or other property deliverable upon any reorganization, reclassification,
        consolidation, merger, amalgamation, sale, dissolution, liquidation or
        winding-up, as the case may be. Each Notice shall be delivered by hand,
        addressed to the Warrant Holder at the address of the Warrant Holder set
        forth
        above or at such other address as the Warrant Holder may from time to time
        specify to the Company in writing.

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      The
        holding of this Warrant Certificate or the Warrants represented hereby does
        not
        constitute the Warrant Holder a member of the Company.

       

      Nothing
        contained herein confers any right upon the Warrant Holder or any other person
        to subscribe for or purchase any Shares of the Company at any time subsequent
        to
        5:00 p.m. local time in l,
        California on l[Date]
        and from
        and after such time, this Warrant and all rights hereunder will be
        void.

       

      The
        Warrants represented by this Warrant Certificate are not transferable unless
        the
        transfer is made in accordance with the provisions of Regulation S, pursuant
        to
        registration under the Act, or pursuant to an available exemption from
        registration. This Warrant Certificate and any Shares issued upon exercise
        of
        this Warrant will bear the following legend:

       

      The
        Securities (and any shares issuable upon exercise of warrants) represented
        hereby have not been registered under the Securities Act of 1933 (the “Act”),
        and have been issued in reliance upon an exemption from the registration
        requirements of the Act provided by Regulation S promulgated under the Act.
        Such
        Securities (and any shares issuable upon exercise of warrants) may not be
        re-offered for sale or resold or otherwise transferred except in accordance
        with
        the provisions of Regulation S, pursuant to an effective registration under
        the
        Act, or pursuant to an available exemption from registration under the Act.
        Hedging transactions involving the Securities (and any shares issuable upon
        exercise of warrants) may not be conducted unless in compliance with the
        Act.

      

       

      Time
        will
        be of the essence hereof.

       

      This
        Warrant Certificate is not valid for any purpose until it has been signed
        by the
        Company.

       

      IN
        WITNESS WHEREOF, the Company has caused its common seal to be hereto affixed
        and
        this Warrant Certificate to be signed by any one of the directors of the
        Company
        as of the l
        day of
l,
        2008.

       

      MYECHECK,
        INC.

       

      Per:

       

      _________________________________

      ED
        STARRS

      President/CEO,
        Director

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

       

      SUBSCRIPTION
        FORM

       

      To: MYECHECK,
        INC. (the "Company")

       

      And
        to: The
        Directors Thereof.

       

      Pursuant
        to the Share Purchase Warrant made the l
        day of
l,
        2008
        the undersigned hereby subscribes for and agrees to take up _______________
        common shares without par value (the "Shares") in the capital of the Company,
        at
        a price of $4.00
        (USD)
        per Share for the aggregate sum of $_______________ (the "Subscription Funds"),
        and encloses herewith a certified cheque, bank draft or money order payable
        to
        the Company in full payment of the Shares.

       

      The
        undersigned (the "Subscriber") hereby requests that upon receipt of the
        Subscription Funds by the Company:

       

      
        	(a)  	
                the
                  Shares be allotted to the person set out under the registration
                  directions
                  shown below;

              

      

       

      
        	(b)  	
                the
                  name and address of the person set out under the registration directions
                  shown below be entered in the registers of members and allotments
                  of the
                  Company;

              

      

       

      
        	(c)  	
                the
                  Shares be issued to the person set out under the registration directions
                  shown as fully paid and non-assessable common shares of the Company;
                  and

              

      

       

      
        	(d)  	
                a
                  share certificate representing the Shares be registered in accordance
                  with
                  the registration directions shown
                  below.

              

      

      

       

      Dated
        this _______ day of ______________, 200__.

       

      DIRECTION
        AS TO REGISTRATION:

       

      (Name
        and address exactly
        as you wish them to appear on the share certificate representing the Shares
        and
        in the register of members.)

       

      Full
        Name :________________________________________________________________________

       

      Full
        Address:______________________________________________________________________

       

      Signature
        of
        Subscriber:______________________________________________________________

       

      
        	
                 

                 

                If
                  the name above differs from the name of the Subscriber, then please
                  complete the following guarantee:

              	
                Signature
                  of Subscriber guaranteed by:

                 

                _______________________________________

                Authorized
                  Signature Number

              

      

       

      NOTE:
        The
        signature to this Subscription Form must correspond with the name as recorded
        on
        the Warrant Certificate accompanying this Subscription Form in every particular
        without alteration or enlargement or any change whatever. If not, the signature
        of the person executing this power must be guaranteed by a Bank or Trust
        Company
        or by a Member of a Professional Bar or Law Association or other entity
        acceptable to the Company’s Transfer Agent.

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      SCHEDULE
        “C”

      

      PAYMENT
        SCHEDULE

      

      The
        Purchaser hereby agrees to pay and deliver to the Company payment for the
        Securities in the amounts and at such times as set out below. The Company
        hereby
        agrees to the terms as set out below.

      

      Payment
        for the Securities of USD$1,000,000 as to:

      

      
        	1)  	
                $200,000
                  on or before December 31, 2007

              

      

      

      
        	2)  	
                $200,000
                  on or before January 31, 2008

              

      

      

      
        	3)  	
                $200,000
                  on or before March 31, 2008

              

      

      

      
        	4)  	
                $200,000
                  on or before May 31, 2008

              

      

      

      
        	5)  	
                $200,000
                  on or before July 31, 2008

              

      

      

      
        
          
          

        

        
          23INDEMNIFICATION
      AGREEMENT

    

    AGREEMENT
      made as
      of this ___ day of March, 2008, between Langer, Inc., a Delaware corporation
      (the "Company"), and __________________ (the "Indemnitee").

    

    WHEREAS,
      it is
      essential to the Company and its stockholders to attract and retain qualified
      and capable directors and officers;

    

    WHEREAS,
      the
      Certificate of Incorporation of the Company, as amended to date (the
      "Certificate of Incorporation") and the By-laws of the Company, as amended
      to
      date (the "By-laws") allow the Company to indemnify and advance expenses to
      its
      directors and officers;

    

    WHEREAS,
      in
      recognition of Indemnitee's need for protection against personal liability
      in
      order to induce Indemnitee to serve the Company in an effective manner, and
      to
      supplement or replace the Company's directors' and officers’ liability insurance
      coverage, and, in part, to provide Indemnitee with specific contractual
      assurance that the protection provided by the Certificate of Incorporation
      and
      the By-laws will be available to Indemnitee (regardless of, among other things,
      any amendment to or revocation of the Certificate of Incorporation and the
      By-laws), the Company wishes to provide the Indemnitee with the benefits
      contemplated by this Agreement; and

    

    WHEREAS,
      as a
      result of the provision of such benefits Indemnitee has agreed to continue
      to
      serve the Company as a director and officers;

    

    NOW,
      THEREFORE,
      the
      parties hereto hereby agree as follows:

    

    1. Definitions.
      The
      following terms, as used herein, shall have the following respective
      meanings:

    

    a. Affiliate:
      of a
      specified Person is a Person who directly, or indirectly through one or more
      intermediaries, controls or is controlled by, or is under common control with,
      the Person specified. The term Associate
      used to
      indicate a relationship with any Person shall mean (i) any corporation or
      organization (other than the Company or a Subsidiary) of which such Person
      is an
      officer or partner or is, directly or indirectly, the Beneficial Owner of ten
      (10) percent or more of any class of Equity Securities; (ii) any trust or other
      estate in which such Person has a substantial beneficial interest or as to
      which
      such Person serves as trustee or in a similar fiduciary capacity (other than
      an
      Employee Plan Trustee), (iii) any Relative of such Person, or (iv) any officer
      or director of any corporation controlling or controlled by such
      Person.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    b. Beneficial
      Ownership:
      shall
      be determined, and a Person shall be the Beneficial
      Owner
      of all
      securities which such Person is deemed to own beneficially, pursuant to Rule
      13d-3 of the General Rules and Regulations under the Securities Exchange Act
      of
      1934, as amended (or any successor rule or statutory provision), or, if such
      Rule 13d-3 shall be rescinded and there shall be no successor rule or statutory
      provision thereto, pursuant to such Rule 13d-3 as in effect on the date hereof;
      provided,
      however,
      that a
      Person shall, in any event, also be deemed to be the Beneficial Owner of any
      Voting Shares: (A) of which such Person or any of its Affiliates or Associates
      is, directly or indirectly, the Beneficial Owner; or (B) of which such Person
      or
      any of its Affiliates or Associates has (i) the right to acquire (whether such
      right is exercisable immediately or only after the passage of time), pursuant
      to
      any agreement, arrangement or understanding or upon the exercise of conversion
      rights, exchange rights, warrants or options, or otherwise, and (ii) sole or
      shared voting or investment power with respect thereto pursuant to any
      agreement, arrangement, understanding, relationship or otherwise (but shall
      not
      be deemed to be the Beneficial Owner of any Voting Shares solely by reason
      of a
      revocable proxy granted for a particular meeting of stockholders, pursuant
      to a
      public solicitation of proxies for such meeting, with respect to shares of
      which
      neither such Person nor any such Affiliate or Associate is otherwise deemed
      the
      Beneficial Owner), or (C) of which another Person is, directly or indirectly,
      the Beneficial Owner if such first mentioned Person or any of its Affiliates
      or
      Associates acts with such other Person as a partnership, syndicate or other
      group pursuant to any agreement, arrangement or understanding for the purpose
      of
      acquiring, holding, voting or disposing of any shares of capital stock of the
      Company; and provided further,
      however,
      that
      (i) no director or officer of the Company, nor any Associate or Affiliate of
      any
      such director or officer, shall, solely by reason of any or all of such
      directors and officers acting in their capacities as such, be deemed for any
      purpose hereof, to be the Beneficial Owner of any Voting Shares of which any
      other such director or officer (or any Associate or Affiliate thereof) is the
      Beneficial Owner (ii) no trustee of an employee stock ownership or similar
      plan
      of the Company or any Subsidiary ("Employee Plan Trustee") or any Associate
      or
      Affiliate of any such Trustee, shall, solely by reason of being an Employee
      Plan
      Trustee or Associate or Affiliate of an Employee Plan Trustee, be deemed for
      any
      purposes hereof to be the Beneficial Owner of any Voting Shares held by or
      under
      any such plan. 

    

    (c) A
      Change
      in Control:
      shall
      be deemed to have occurred if (A) any Person (other than (a) the Company or
      any
      subsidiary, or (b) any pension, profit sharing, employee stock ownership or
      other employee benefit plan of the Company or any subsidiary or any trustee
      of
      or fiduciary with respect to any such plan when acting in such capacity) is
      or
      becomes, after the date of this Agreement, the Beneficial Owners of 30% or
      more
      of the total voting power of the Voting Shares, (B) during any period of two
      consecutive years, individuals who at the beginning of such period constitute
      the Board of Directors of the Company and any new director whose election or
      appointment by the Board of Directors or nomination or recommendation for
      election by the Company's stockholders was approved by a vote of at least
      two-thirds (2/3) of the directors then still in office who either were directors
      at the beginning of the period or whose election or nomination for election
      was
      previously so approved, cease for any reason to constitute a majority thereof,
      or (C) the stockholders of the Company approve a merger or consolidation of
      the
      Company with any other corporation, other than a merger or consolidation which
      would result in the Voting Shares of the Company outstanding immediately prior
      thereto continuing to represent (either by remaining outstanding or by being
      converted into Voting Shares of the surviving entity) at least 75% of the total
      voting power represented by the Voting Shares of the Company or such surviving
      entity outstanding, or the stockholders of the Company approve a plan of
      complete liquidation of the Company or an agreement for the sale or disposition
      by the Company of all or substantially all of the Company's assets.

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

    (d) Claim:
      means
      any threatened, pending or completed action, suit, arbitration or proceeding,
      or
      any inquiry or investigation, whether brought by or in the right of the Company
      or otherwise, that Indemnitee in good faith reasonably believes might lead
      to
      the institution of any such action, suit, arbitration or proceeding, whether
      civil, criminal, administrative, investigative or other, or any appeal
      therefrom.

    

    (e) Equity
      Security:
      shall
      have the meaning given to such term under Rule 3a11-1 of the General Rules
      and
      Regulations under the Securities Exchange Act of 1934, as in effect on the
      date
      hereof.

    

    (f) D&O
      Insurance:
      means
      any valid directors' and officers’ liability insurance policy maintained by the
      Company for the benefit of the Indemnitee, if any.

    

    (g) Determination:
      means a
      determination, and Determined
      means a
      matter which has been determined based on the facts known at the time, by:
      (i) a
      majority vote of a quorum of disinterested directors, or (ii) if such a quorum
      is not obtainable, or even if obtainable, if a quorum of disinterested directors
      so directs, by independent legal counsel in a written opinion, or, in the event
      there has been a Change in Control, by the Special Independent Counsel (in
      a
      written opinion) selected by Indemnitee as set forth in Section 6, or (iii)
      a
      majority of the disinterested stockholders of the Company, or (iv) a final
      adjudication by a court of competent jurisdiction.

    

    (h) Excluded
      Claim:
      means
      any payment for Losses or Expenses in connection with any Claim: (i) based
      or
      attributable to Indemnitee personally gaining in fact any financial profit
      or
      other advantage to which Indemnitee is not legally entitled; or (ii) for the
      return by Indemnitee of any remuneration paid to Indemnitee without the previous
      approval of the stockholders of the Company which is illegal; or (iii) for
      an
      accounting of profits in fact made from the purchase or sale by Indemnitee
      of
      securities of the Company within the meaning of Section 16 of the Securities
      Exchange Act of 1934, as amended, or similar provisions of any state law; or
      (iv) resulting from Indemnitee's knowingly fraudulent, dishonest or willful
      misconduct; or (v) resulting from the Indemnitee’s bad faith or as a result of
      active and deliberate dishonesty which was material to the adjudicated cause
      of
      action or (vi) the payment of which by the Company under this Agreement is
      not
      permitted by applicable law.

    

    (i) Expenses:
      means
      any reasonable expenses incurred by Indemnitee as a result of a Claim or Claims
      made against Indemnitee for Indemnifiable Events including, without limitation,
      reasonable attorneys' fees and all other costs, expenses and obligations paid
      or
      incurred in connection with investigating, defending, being a witness in or
      participating in (including on appeal), or preparing to defend, be a witness
      in
      or participate in any Claim relating to any Indemnifiable Event.

    

    (j) Fines:
      means
      any fine, penalty or, with respect to an employee benefit plan, any excise
      tax
      or penalty assessed with respect thereto.

     

    (k) Indemnifiable
      Event:
      means
      any event or occurrence, occurring prior to or after the date of this Agreement,
      related to the fact that Indemnitee is, was or has agreed to serve as, a
      director or officer of the Company, or is or was serving at the request of
      the
      Company as a director, officer, employee, consultant, trustee, agent or
      fiduciary of another corporation, partnership, joint venture, employee benefit
      plan, trust or other enterprise, or by reason of anything done or not done
      by
      Indemnitee, including, but not limited to, any breach of duty, neglect, error,
      misstatement, misleading statement, omission, or other act done or wrongfully
      attempted by Indemnitee, or any of the foregoing alleged by any claimant, in
      any
      such capacity.

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    (l) Losses:
      means
      any amounts or sums which Indemnitee is legally obligated to pay as a result
      of
      a Claim or Claims made against Indemnitee for Indemnifiable Events including,
      without limitation, damages, judgments and sums or amounts paid in settlement
      of
      a Claim or Claims, and Fines.

    

    (m) Person:
      means
      any individual, partnership, corporation, limited liability company, business
      trust, joint stock company, trust, unincorporated association, joint venture,
      governmental authority or other entity of whatever nature.

    

    (n) Potential
      Change in Control:
      shall
      be deemed to have occurred if (A) the Company, enters into an agreement, the
      consummation of which would result in the occurrence of a Change in Control;
      or
      (B) the Board of Directors adopts a resolution to the effect that, for purposes
      of this Agreement, a Potential Change in Control has occurred.

    

    (o) Relative:
      means a
      Person's spouse, parents, children, siblings, mother- and father-in-law, sons-
      and daughters-in-law, and brothers- and sisters-in-law.

    

    (p) Reviewing
      Party:
      means
      any appropriate person or body consisting of a member or members of the
      Company's Board of Directors or any other person or body appointed by the Board
      (including the Special Independent Counsel referred to in Section 6) who is
      not
      a party to the particular Claim for which Indemnitee is seeking
      indemnification.

    

    (q) Subsidiary:
      means
      any corporation of which a majority of any class of Equity Security is owned,
      directly or indirectly, by the Company.

    

    (r) Trust:
      means
      the trust established pursuant to Section 7 hereof.

    

    (s) Voting
      Shares:
      means
      any issued and outstanding shares of capital stock of the Company entitled
      to
      vote generally in the election of directors.

    

    2. Basic
      Indemnification Agreement.
      In
      consideration of, and as an inducement to, the Indemnitee rendering valuable
      services to the Company, the Company agrees that in the event Indemnitee is
      or
      becomes a party to or witness or other participant in, or is threatened to
      be
      made a party to or witness or other participant in, a Claim by reason of (or
      arising in part out of) an Indemnifiable Event, the Company will indemnify
      Indemnitee to the fullest extent authorized by law, against any and all Losses
      and Expenses (including all interest, assessments and other charges paid or
      payable in connection with or in respect of such Losses and Expenses) of such
      Claim, whether or not such Claim proceeds to judgment or is settled or otherwise
      is brought to a final disposition, subject in each case, to the further
      provisions of this Agreement.

    3. Limitations
      on Indemnification.
      Notwithstanding the provisions of Section 2, Indemnitee shall not be indemnified
      and held harmless from any Losses or Expenses (a) which have been Determined,
      as
      provided herein, to constitute an Excluded Claim; (b) indemnifiable hereunder
      if
      and to the extent that Indemnitee has actually received payment in connection
      with such Losses and Expenses pursuant to the Certificate of Incorporation,
      By-laws, D&O Insurance or otherwise; or (c) other than pursuant to the last
      sentence of Section 4(d) or Section 14, in connection with any claim or
      proceeding initiated by Indemnitee, or brought or made by Indemnitee against
      the
      Company or any director or officer of the Company, unless the Company has joined
      in or the Board of Directors has authorized such claim or
      proceeding.

    

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    4. Indemnification
      Procedures.

    

    (a) Promptly
      after receipt by Indemnitee of notice of any Claim, Indemnitee shall, if
      indemnification with respect thereto may be sought from the Company under this
      Agreement, notify the Company of the commencement thereof; provided,
      however,
      that
      the failure to give such notice promptly shall not affect or limit the Company's
      obligations with respect to the matters described in the notice of such Claim,
      except to the extent that the Company is prejudiced thereby. Indemnitee agrees,
      further, not to make any admission or effect any settlement with respect to
      such
      Claim without the consent of the Company, except any Claim with respect to
      which
      the Indemnitee has undertaken the defense in accordance with the second to
      last
      sentence of Section 4(d).

    

    (b) If,
      at
      the time of the receipt of such notice, the Company has D&O Insurance in
      effect, the Company shall give prompt notice of the commencement of any Claim
      to
      the insurers in accordance with the procedures set forth in the respective
      policies. The Company shall thereafter take all necessary or desirable action
      to
      cause such insurers to pay, on behalf of Indemnitee, all Losses and Expenses
      payable as a result of such Claim.

    

    (c) The
      Company shall be obligated to pay the Expenses of any Claim in advance of the
      final disposition thereof and the Company, if appropriate, shall be entitled
      to
      assume the defense of such Claim, with counsel reasonably satisfactory to
      Indemnitee, upon the delivery to Indemnitee of reasonable written notice of
      its
      election to do so. After delivery of such notice, the Company will not be liable
      to Indemnitee under this Agreement for any legal or other Expenses subsequently
      incurred by Indemnitee in connection with such defense other than reasonable
      Expenses of investigation; provided that
      Indemnitee shall have the right to employ its counsel in such Claim but the
      fees
      and expenses of such counsel incurred after delivery of notice from the Company
      of its assumption of such defense shall be at the Indemnitee's expense;
provided further
      that if:
      (i) the employment of counsel by Indemnitee has been previously authorized
      by
      the Company, (ii) Indemnitee shall have reasonably concluded that there will
      be
      a conflict of interest between the Company and Indemnitee in the conduct of
      any
      such defense, or (iii) the Company shall not, in fact, have employed counsel
      to
      assume the defense of such action, the reasonable fees and expenses of counsel
      shall be at the expense of the Company.

    (d) All
      payments on account of the Company's indemnification obligations under this
      Agreement shall be made within sixty (60) days of Indemnitee's written request
      therefor unless a Determination is made that the Claims giving rise to
      Indemnitee's request are Excluded Claims or otherwise not payable under this
      Agreement, provided that
      all
      payments on account of the Company's obligation to pay Expenses under Section
      4(c) of this Agreement prior to the final disposition of any Claim shall be
      made
      within 30 days of Indemnitee's written request therefor and such obligation
      shall not be subject to any such Determination but shall be subject to Section
      4(e) of this Agreement. Notwithstanding the foregoing, such sixty (60) day
      period may be extended for a reasonable time, not to exceed an additional thirty
      (30) days, if the Person making the Determination with respect to entitlement
      to
      indemnification in good faith requires such additional time for the obtaining
      or
      evaluating of documentation and/or information relating thereto. In the event
      the Company takes the position that Indemnitee is not entitled to
      indemnification in connection with the proposed settlement of any Claim,
      Indemnitee shall have the right at his own expense to undertake defense of
      any
      such Claim, insofar as such proceeding involves Claims against the Indemnitee,
      by written notice given to the Company within 10 days after the Company has
      notified Indemnitee in writing of its contention that Indemnitee is not entitled
      to indemnification; provided,
      however,
      that
      the failure to give such notice within such 10-day period shall not affect
      or
      limit the Company's obligations with respect to any such Claim if such Claim
      is
      subsequently determined not to be an Excluded Claim or otherwise to be payable
      under this Agreement, except to the extent that the Company is prejudiced
      thereby. If it is subsequently determined in connection with such proceeding
      that the Indemnifiable Events are not Excluded Claims and that Indemnitee,
      therefore, is entitled to be indemnified under the provisions of Section 2
      hereof, the Company shall promptly indemnify Indemnitee. 

    

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    (e) Indemnitee
      hereby expressly undertakes and agrees to reimburse the Company for all Losses
      and Expenses paid by the Company in connection with any Claim against Indemnitee
      in the event and only to the extent that a Determination shall have been made
      by
      a court of competent jurisdiction in a decision from which there is no further
      right to appeal that Indemnitee is not entitled to be indemnified by the Company
      for such Losses and Expenses because the Claim is an Excluded Claim or because
      Indemnitee is otherwise not entitled to payment under this
      Agreement.

    

    (f) In
      connection with any Determination as to whether Indemnitee is entitled to be
      indemnified hereunder, the burden of proof shall be on the Company to establish
      that Indemnitee is not so entitled.

    

    (g) Indemnitee
      hereby expressly undertakes and agrees to (i) notify (and deliver to, as
      applicable) the Company in writing of any and all information or documents
      relating to any Claim or matter which may entitle Indemnitee to indemnification
      for Losses or Expenses under this Agreement; and (ii) to notify the Company
      in
      writing of any and all developments relating to any Claim to which the Company
      has notified Indemnitee in writing pursuant to the terms of Section 4(d) herein
      of its contention that Indemnitee is not entitled to indemnification under
      this
      Agreement.

    

    5. Settlement.
      The
      Company shall have no obligation to indemnify Indemnitee under this Agreement
      for any amounts paid in settlement of any Claim effected without the Company's
      prior written consent. The Company shall not settle any Claim in which it takes
      the position that Indemnitee is not entitled to indemnification in connection
      with such settlement without the consent of Indemnitee, nor shall the Company
      settle any Claim in any manner which would impose any Fine or any obligation
      on
      Indemnitee, without Indemnitee's written consent. Neither the Company nor
      Indemnitee shall unreasonably withhold its or his consent to any proposed
      settlement.

     

    6. Change
      in Control; Extraordinary Transactions.
      The
      Company and Indemnitee agree that if there is a Change in Control of the Company
      (other than a Change in Control which has been approved by a majority of the
      Company's Board of Directors who were directors immediately prior to such Change
      in Control), then all Determinations thereafter with respect to the rights
      of
      Indemnitee to be paid Losses and Expenses under this Agreement shall be made
      only by a special independent counsel (the "Special Independent Counsel")
      selected by Indemnitee and approved by the Company (which approval shall not
      be
      unreasonably withheld) or by a court of competent jurisdiction. The Company
      shall pay the reasonable fees of such Special Independent Counsel and shall
      indemnify such Special Independent Counsel against any and all reasonable
      expenses (including reasonable attorneys' fees), claims, liabilities and damages
      arising out of or relating to this Agreement or its engagement pursuant
      hereto.

    

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

    The
      Company covenants and agrees that, in the event of a Change in Control of the
      type described in clause (C) of Section 1(c), the Company will use its best
      efforts (a) to have the obligations of the Company under this Agreement
      including, but not limited to, those under Section 7, expressly assumed by
      the
      surviving, purchasing or succeeding entity, or (b) otherwise adequately to
      provide for the satisfaction of the Company's obligations under this Agreement,
      in a manner reasonably acceptable to the Indemnitee.

    

    7. Establishment
      of Trust.
      In the
      event of a Potential Change in Control, the Company shall, upon written request
      by Indemnitee, create a trust (the "Trust") for the benefit of Indemnitee and
      from time to time upon written request of Indemnitee shall fund the Trust in
      an
      amount sufficient to satisfy any and all Losses and Expenses which are actually
      paid or which Indemnitee reasonably determines from time to time may be payable
      by the Company under this Agreement. The amount or amounts to be deposited
      in
      the Trust pursuant to the foregoing funding obligation shall be determined
      by
      the Reviewing Party, in any case in which the Special Independent Counsel is
      involved. The terms of the Trust shall provide that upon a Change in Control:
      (i) the Trust shall not be revoked or the principal thereof invaded without
      the
      written consent of Indemnitee; (ii) the trustee of the Trust shall advance,
      within 20 days of a request by Indemnitee, any and all Expenses to Indemnitee
      (and Indemnitee hereby agrees to reimburse the Trust under the circumstances
      under which Indemnitee would be required to reimburse the Company under Section
      4(e) of this Agreement); (iii) the Company shall continue to fund the Trust
      from
      time to time in accordance with the funding obligations set forth above; (iv)
      the trustee of the Trust shall promptly pay to Indemnitee all Losses and
      Expenses for which Indemnitee shall be entitled to indemnification pursuant
      to
      this Agreement; and (v) all unexpended funds in the Trust shall revert to the
      Company upon a final determination by a court of competent jurisdiction in
      a
      final decision from which there is no further right of appeal that Indemnitee
      has been fully indemnified under the terms of this Agreement. The trustee of
      the
      Trust shall be chosen by Indemnitee and shall be approved by the Company, which
      approval shall not be unreasonably withheld.

    

    8. No
      Presumption.
      For
      purposes of this Agreement, the termination of any Claim by judgment, order,
      settlement (whether with or without court approval) or conviction, or upon
      a
      plea of nolo contendere,
      or its
      equivalent, shall not, of itself, create a presumption that Indemnitee did
      not
      meet any particular standard of conduct or have any particular belief or that
      a
      court has determined that indemnification is not permitted by applicable
      law.

     

    9. Non-exclusivity,
      Etc.
      The
      rights of Indemnitee hereunder shall be in addition to any other rights
      Indemnitee may have under the Certificate of Incorporation, the By-laws, the
      General Corporation Law of the State of Delaware, any vote of stockholders
      or
      disinterested directors or otherwise, both as to action in Indemnitee's official
      capacity and as to action in any other capacity by holding such office, and
      shall continue after Indemnitee ceases to serve the Company as a director,
      officer, employee, or consultant for so long as Indemnitee shall be subject
      to
      any Claim by reason of (or arising in part out of) an Indemnifiable Event.
      To
      the extent that a change in the General Corporation Law of the State of Delaware
      (whether by statute or judicial decision) permits greater indemnification by
      agreement than would be afforded currently under the Certificate of
      Incorporation, the By-laws and this Agreement, it is the intent of the parties
      hereto that Indemnitee shall enjoy by this Agreement the greater benefits so
      afforded by such change.

    

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    10. Liability
      Insurance.
      To the
      extent the Company maintains an insurance policy or policies providing D&O
      Insurance, Indemnitee shall be covered by such policy or policies, in accordance
      with its or their terms, to the maximum extent of the coverage available for
      any
      director of the Company.

    

    11. Subrogation.
      In the
      event of payment under this Agreement, the Company shall be subrogated to the
      extent of such payment to all of the rights of recovery of Indemnitee who shall
      execute all papers required and shall do everything that may be necessary to
      secure such rights, including the execution of such documents necessary to
      enable the Company effectively to bring suit to enforce such
      rights.

    

    12. Partial
      Indemnity, Etc.
      If
      Indemnitee is entitled under any provision of this Agreement to indemnification
      by the Company for some or a portion of the Losses and Expenses of a Claim
      but
      not, however, for all of the total amount thereof, the Company shall
      nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee
      is
      entitled. Moreover, notwithstanding any other provision of this Agreement,
      to
      the extent that Indemnitee has been successful on the merits or otherwise in
      defense of any or all Claims relating in whole or in part to any Indemnifiable
      Event or in defense of any issue or matter therein, including dismissal without
      prejudice, Indemnitee shall be indemnified against all Expenses incurred in
      connection therewith.

    

    13. Liability
      of Company.
      Indemnitee agrees that neither the stockholders nor the directors nor any
      officer, employee, consultant, representative or agent of the Company shall
      be
      personally liable for the satisfaction of the Company's obligations under this
      Agreement and Indemnitee shall look solely to the assets of the Company for
      satisfaction of any claims hereunder.

    

    14. Enforcement.

    

    (a)
      Indemnitee's right to indemnification and other rights under this Agreement
      shall be specifically enforceable by Indemnitee only in the Chancery Court
      of
      the State of Delaware (the "Delaware Court") and shall be enforceable
      notwithstanding any adverse Determination by the Company's Board of Directors,
      independent legal counsel, the Special Independent Counsel or the Company's
      stockholders and no such Determination shall create a presumption that
      Indemnitee is not entitled to be indemnified hereunder. In any such action
      the
      Company shall have the burden of proving that indemnification is not required
      under this Agreement.

     

    (b) In
      the
      event that any action is instituted by Indemnitee under this Agreement, or
      to
      enforce or interpret any of the terms of this Agreement, Indemnitee shall be
      entitled to be paid all court costs and reasonable expenses, including
      reasonable counsel fees, incurred by Indemnitee with respect to such action,
      unless the court determines that each of the material assertions made by
      Indemnitee as a basis for such action was not made in good faith or was
      frivolous.

    

    15. Severability.
      In the
      event that any provision of this Agreement is determined by a court to require
      the Company to do or to fail to do an act which is in violation of applicable
      law, such provision (including any provision within a single section, paragraph
      or sentence) shall be limited or modified in its application to the minimum
      extent necessary to avoid a violation of law, and, as so limited or modified,
      such provision and the balance of this Agreement shall be enforceable in
      accordance with their terms to the fullest extent permitted by law.

    

    16. Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Delaware applicable to agreements made and to be performed entirely
      within such State.

    

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

    17. Consent
      to Jurisdiction.
      The
      Company and Indemnitee each hereby irrevocably and unconditionally (i) agree
      that any action or proceeding arising out of or in connection with this
      Agreement shall be brought only in the Delaware Court, and not in any other
      state or federal court in the United States of America or any court in any
      other
      country, (ii) consent to submit to the exclusive jurisdiction of the Delaware
      Court for purposes of any action or proceeding arising out of or in connection
      with this Agreement, (iii) waive any objection to the laying of venue of any
      such action or proceeding in the Delaware Court, and (iv) waive, and agree
      not
      to plead or to make, any claim that any such action or proceeding brought in
      the
      Delaware Court has been brought in an improper or inconvenient
      forum.

    

    18. Notices.
      All
      notices or other communications required or permitted hereunder shall be
      sufficiently given for all purposes if in writing and personally delivered
      or
      sent by registered or certified mail, return receipt requested, with postage
      prepaid addressed as follows, or to such other address as the parties shall
      have
      given notice of pursuant hereto:

    

    (a)    If
      to the
      Company, to:

    

    Langer,
      Inc.

    450
      Commack Road

    Deer
      Park, New York 11720

    Attn:
      President

    

    With
      a
      copy to:

    

    Kane
      Kessler, P.C.

    1350
      Avenue of the Americas

    New
      York,
      New York 10019

    Attn:
      Robert L. Lawrence, Esq.

    

    

    
      
         

      

      
        -9-

        
          

        

      

      
         

      

    

    (b)    If
      to
      Indemnitee, to:

     

    19. Counterparts.
      This
      Agreement may be signed in counterparts, each of which shall be an original
      and
      all of which, when taken together, shall constitute one and the same
      instrument.

    

    20. Successors
      and Assigns.
      This
      Agreement shall be (i) binding upon all successors and assigns of the Company,
      including any direct or indirect successor by purchase, merger, consolidation
      or
      otherwise to all or substantially all of the business and/or assets of the
      Company, and (ii) binding upon and inure to the benefit of any successors and
      assigns, heirs, and personal or legal representatives of
      Indemnitee.

    

    21. Amendment;
      Waiver.
      No
      amendment, modification, termination or cancellation of this Agreement shall
      be
      effective unless made in a writing signed by each of the parties hereto. No
      waiver of any of the provisions of this Agreement shall be deemed or shall
      constitute a waiver of any other provision hereof (whether or not similar)
      nor
      shall such waiver constitute a continuing waiver.

     

    IN
      WITNESS WHEREOF,
      the
      Company and Indemnitee have executed this Agreement as of the day and year
      first
      above written.

    
 

    
      	 	
              LANGER,
                INC.

               

              

              By:___________________________

                Name:

                Title:

              
 

              ______________________________________

               

            

    

    

    
      
         

      

      
        -10-

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