Document:

NEITHER
THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
COMPANY.  THESE SECURITIES AND THE SECURITIES ISSUABLE UPON EXERCISE
OF THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
SECURED BY SUCH SECURITIES.

     

    

     

    PROLINK
HOLDINGS CORP.

     

    WARRANT

     

    Warrant
No. 4.17.09 Date of Original Issuance: April 17, 2009

     

    ProLink
Holdings Corp., a Delaware corporation (the "Company"), hereby certifies
that, for value received, Trinad Capital Master Fund, Ltd. or its registered
assigns (the "Holder"),
is entitled to purchase from the Company up to a total of 12,500,000 shares of
common stock, par value $0.0001 per share (the "Common Stock"), of the
Company (each such share, a "Warrant Share" and all such
shares, the "Warrant
Shares") at an exercise price equal to $0.03 per share (as adjusted from
time to time as provided in Section 9, the "Exercise Price"), at any time
and from time to time from and after the date hereof and through and including
April 17, 2014 (the "Expiration
Date"), and subject to the following terms and conditions:

     

    1. Definitions.  In
addition to the terms defined elsewhere in this Warrant, capitalized terms that
are not otherwise defined herein shall have the meanings given to such terms in
the Subscription Agreement of even date herewith to which the Company and the
original Holder are parties (the "Purchase
Agreement").

     

    2. Registration of
Warrant.  The Company shall register this Warrant, upon records
to be maintained by the Company for that purpose (the "Warrant Register"), in the
name of the record Holder hereof from time to time.  The Company may
deem and treat the registered Holder of this Warrant as the absolute owner
hereof for the purpose of any exercise hereof or any distribution to the Holder,
and for all other purposes, absent actual notice to the contrary.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3. Registration of
Transfers.  The Company shall register the transfer of any
portion of this Warrant in the Warrant Register, upon surrender of this Warrant,
with the Form of Assignment attached hereto duly completed and signed, to the
Company at its address specified herein.  Upon any such registration
or transfer, a new Warrant to purchase Common Stock, in substantially the form
of this Warrant (any such new Warrant, a "New Warrant"), evidencing the
portion of this Warrant so transferred shall be issued to the transferee and a
New Warrant evidencing the remaining portion of this Warrant not so transferred,
if any, shall be issued to the transferring Holder. The acceptance of the New
Warrant by the transferee thereof shall be deemed the acceptance by such
transferee of all of the rights and obligations of a holder of a
Warrant.

     

    4. Exercise and Duration of
Warrants.  This Warrant shall be exercisable by the registered
Holder at any time and from time to time on or after the date hereof to and
including the Expiration Date.  At 6:30 p.m., New York City time on
the Expiration Date, the portion of this Warrant not exercised prior thereto
shall be and become void and of no value, provided, that if the
closing sales price of the Common Stock on the Expiration Date is greater than
102% of the Exercise Price on the Expiration Date, then this Warrant shall be
deemed to have been exercised in full (to the extent not previously exercised)
on a “cashless exercise” basis at 6:30 P.M. New York City time on the Expiration
Date. The Company may not call or redeem all or any portion of this Warrant
without the prior written consent of the Holder.

     

    5. Delivery of Warrant
Shares.

     

    (a) To effect
exercises hereunder, the Holder shall not be required to physically surrender
this Warrant unless the aggregate Warrant Shares represented by this Warrant is
being exercised.  Upon delivery of the Exercise Notice to the Company
(with the attached Warrant Shares Exercise Log) at its address for notice set
forth herein and upon payment of the Exercise Price multiplied by the number of
Warrant Shares that the Holder intends to purchase hereunder, the Company shall
promptly (but in no event later than three Trading Days (as defined herein)
after the Date of Exercise (as defined herein)) issue and deliver to the Holder,
a certificate for the Warrant Shares issuable upon such exercise, which, unless
otherwise required by the Subscription Agreement, shall be free of restrictive
legends.  A “Trading
Day” means a day on which the Common Stock is traded on an exchange, or
traded or quoted on an over-the-counter market.  A "Date of Exercise" means the
date on which the Holder shall have delivered to Company: (i) the Exercise
Notice (with the Warrant Exercise Log attached to it), appropriately completed
and duly signed and (ii) if such Holder is not utilizing the cashless exercise
provisions set forth in this Warrant, payment of the Exercise Price for the
number of Warrant Shares so indicated by the Holder to be
purchased.

     

    (b) If by the
third Trading Day after a Date of Exercise the Company fails to deliver the
required number of Warrant Shares in the manner required pursuant to Section
5(a), then the Holder will have the right to rescind such exercise.

     

    (c) If by the
third Trading Day after a Date of Exercise the Company fails to deliver the
required number of Warrant Shares in the manner required pursuant to Section
5(a), and if after such third Trading Day and prior to the receipt of such
Warrant Shares, the Holder purchases (in an open market transaction or
otherwise) shares of Common Stock to deliver in satisfaction of a sale by the
Holder of the Warrant Shares which the Holder anticipated receiving upon such
exercise (a "Buy-In"),
then the Company shall (1) pay in cash to the Holder the amount by which (x) the
Holder's total purchase price (including brokerage commissions, if any) for the
shares of Common Stock so purchased exceeds (y) the amount obtained by
multiplying (A) the number of Warrant Shares that the Company was required to
deliver to the Holder in connection with the exercise at issue by (B) the
exercise price of the Common Stock at the time of the obligation giving rise to
such purchase obligation and (2) reinstate the portion of the Warrant and
equivalent number of Warrant Shares for which such exercise was not
honored.  The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the
Buy-In.

     

    
      
        
        

      

      
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    (d) The
Company's obligations to issue and deliver Warrant Shares in accordance with the
terms hereof are absolute and unconditional, irrespective of any action or
inaction by the Holder to enforce the same, any waiver or consent with respect
to any provision hereof, the recovery of any judgment against any Person or any
action to enforce the same, or any setoff, counterclaim, recoupment, limitation
or termination, or any breach or alleged breach by the Holder or any other
Person of any obligation to the Company or any violation or alleged violation of
law by the Holder or any other Person, and irrespective of any other
circumstance which might otherwise limit such obligation of the Company to the
Holder in connection with the issuance of Warrant Shares.  Nothing
herein shall limit a Holder's right to pursue any other remedies available to it
hereunder, at law or in equity including, without limitation, a decree of
specific performance and/or injunctive relief with respect to the Company's
failure to timely deliver certificates representing shares of Common Stock upon
exercise of the Warrant  as required pursuant to the terms
hereof.

     

    6. Charges, Taxes and
Expenses.  Issuance and delivery of certificates for shares of
Common Stock upon exercise of this Warrant shall be made without charge to the
Holder for any issue or transfer tax, withholding tax, transfer agent fee or
other incidental tax or expense in respect of the issuance of such certificates,
all of which taxes and expenses shall be paid by the Company; provided, however,
that the Company shall not be required to pay any tax which may be payable in
respect of any transfer involved in the registration of any certificates for
Warrant Shares or Warrants in a name other than that of the
Holder.  The Holder shall be responsible for all other tax liability
that may arise as a result of holding or transferring this Warrant or receiving
Warrant Shares upon exercise hereof.

     

    7. Replacement of
Warrant.  If this Warrant is mutilated, lost, stolen or
destroyed, the Company shall issue or cause to be issued in exchange and
substitution for and upon cancellation hereof, or in lieu of and substitution
for this Warrant, a New Warrant, but only upon receipt of evidence reasonably
satisfactory to the Company of such loss, theft or destruction and customary and
reasonable indemnity (which shall not include a surety bond), if
requested.  Applicants for a New Warrant under such circumstances
shall also comply with such other reasonable regulations and procedures and pay
such other reasonable third-party costs as the Company may
prescribe.  If a New Warrant is requested as a result of a mutilation
of this Warrant, then the Holder shall deliver such mutilated Warrant to the
Company as a condition precedent to the Company’s obligation to issue the New
Warrant.

     

    8. Reservation of Warrant
Shares.  The Company covenants that it will at all times
reserve and keep available out of the aggregate of its authorized but unissued
and otherwise unreserved Common Stock, solely for the purpose of enabling it to
issue Warrant Shares upon exercise of this Warrant as herein provided, the
number of Warrant Shares which are then issuable and deliverable upon the
exercise of this entire Warrant, free from preemptive rights or any other
contingent purchase rights of persons other than the Holder (taking into account
the adjustments and restrictions of Section 9). The
Company covenants that all Warrant Shares so issuable and deliverable shall,
upon issuance and the payment of the applicable Exercise Price in accordance
with the terms hereof, be duly and validly authorized, issued and fully paid and
nonassessable.

     

    
      
        
        

      

      
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    9. Certain
Adjustments.  The Exercise Price and number of Warrant Shares
issuable upon exercise of this Warrant are subject to adjustment from time to
time as set forth in this Section
9.

     

    (a) Stock Dividends and
Splits.  If the Company, at any time while this Warrant is
outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a
distribution on any class of capital stock that is payable in shares of Common
Stock, (ii) subdivides outstanding shares of Common Stock into a larger number
of shares, or (iii) combines outstanding shares of Common Stock into a smaller
number of shares, then in each such case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common
Stock outstanding immediately before such event and of which the denominator
shall be the number of shares of Common Stock outstanding immediately after such
event.  Any adjustment made pursuant to clause (i) of this paragraph
shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution, and any
adjustment pursuant to clause (ii) or (iii) of this paragraph shall become
effective immediately after the effective date of such subdivision or
combination. If any event requiring an adjustment under this paragraph occurs
during the period that an Exercise Price is calculated hereunder, then the
calculation of such Exercise Price shall be adjusted appropriately to reflect
such event.

     

    (b) Fundamental
Transactions.  If, at any time while this Warrant is
outstanding, (1) the Company effects any merger or consolidation of the Company
with or into another Person, (2) the Company effects any sale of all or
substantially all of its assets in one or a series of related transactions, (3)
any tender offer or exchange offer (whether by the Company or another Person) is
completed pursuant to which holders of Common Stock are permitted to tender or
exchange their shares for other securities, cash or property, or (4) the Company
effects any reclassification of the Common Stock or any compulsory share
exchange pursuant to which the Common Stock is effectively converted into or
exchanged for other securities, cash or property (in any such case, a "Fundamental Transaction"),
then the Holder shall have the right thereafter to receive, upon exercise of
this Warrant, the same amount and kind of securities, cash or property as it
would have been entitled to receive upon the occurrence of such Fundamental
Transaction if it had been, immediately prior to such Fundamental Transaction,
the holder of the number of Warrant Shares then issuable upon exercise in full
of this Warrant (the "Alternate
Consideration").  For purposes of any such exercise, the
determination of the Exercise Price shall be appropriately adjusted to apply to
such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Exercise Price among the
Alternate Consideration in a reasonable manner reflecting the relative value of
any different components of the Alternate Consideration.  If holders
of Common Stock are given any choice as to the securities, cash or property to
be received in a Fundamental Transaction, then the Holder shall be given the
same choice as to the Alternate Consideration it receives upon any exercise of
this Warrant following such Fundamental Transaction.  At the Holder's
option and request, any successor to the Company or surviving entity in such
Fundamental Transaction shall, either (1) issue to the Holder a new warrant
substantially in the form of this Warrant and consistent with the foregoing
provisions and evidencing the Holder's right to purchase the Alternate
Consideration for the aggregate Exercise Price upon exercise thereof, or (2)
purchase the Warrant from the Holder for a purchase price, payable in cash
within five Trading Days after such request (or, if later, on the effective date
of the Fundamental Transaction), equal to the Black Scholes value of the
remaining unexercised portion of this Warrant on the date of such request. The
terms of any agreement pursuant to which a Fundamental Transaction is effected
shall include terms requiring any such successor or surviving entity to comply
with the provisions of this paragraph (c) and insuring that the Warrant (or any
such replacement security) will be similarly adjusted upon any subsequent
transaction analogous to a Fundamental Transaction.

     

    
      
        
        

      

      
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    (c) Certain Diluting
Issuances.  (i)  If the Company shall, at any time or
from time to time, issue or distribute any shares of Common Stock, or be deemed
to have issued shares of Common Stock as provided herein, other than Excluded
Stock (as defined in Section 9(c)(iv) below) (each such event, including any
event described in paragraphs (ii)(C) and (ii)(D) below, being herein called a
“Common Stock
Distribution”), without consideration or for a consideration per share
less than the Exercise Price on the date of such Common Stock Distribution or on
the first date of the announcement of such Common Stock Distribution, whichever
is greater, then, effective immediately after the open of business on the day
following such Common Stock Distribution, the Exercise Price as in effect
immediately prior to such Common Stock Distribution shall forthwith be lowered
to a price equal to the amount determined by multiplying the Exercise Price by a
fraction: (A) the numerator of which shall be (x) the total number of shares of
Common Stock outstanding (including shares of Common Stock issuable upon
exercise or conversion of outstanding options, warrants and convertible
securities) immediately prior to such Common Stock Distribution, plus (y) the
number of shares of Common Stock which the net aggregate consideration, if any,
received by the Company upon such Common Stock Distribution would purchase at
the Exercise Price in effect immediately prior to such Common Stock
Distribution; and (B) the denominator of which shall be (x) total number of
shares of Common Stock outstanding (including shares of Common Stock issuable
upon exercise or conversion of outstanding options, warrants and convertible
securities) immediately prior to such Common Stock Distribution, plus (y) the
number of additional shares of Common Stock issued as part of such Common Stock
Distribution.  In the event of any such adjustment, the number of
shares of Common Stock purchasable upon exercise of this Warrant shall forthwith
be increased by multiplying the number of shares of Common Stock subject to
purchase upon exercise of this Warrant by a fraction, the numerator of which
shall be the total number of shares of Common Stock outstanding (including
shares of Common Stock issuable upon exercise or conversion of outstanding
options, warrants and convertible securities immediately after such Common Stock
Distribution), and the denominator of which shall be an amount equal to the sum
of (i) the number of shares of Common Stock outstanding immediately prior to
such Common Stock Distribution, plus (ii) the number of shares of Common Stock
which the aggregate consideration, if any, received by the Company (determined
as provided below) for such Common Stock Distribution would buy at the Exercise
Price thereof as of the date immediately prior to such Common Stock Distribution
or as of the date immediately prior to the date of announcement of such Common
Stock Distribution (whichever is greater).

     

    
      
        
        

      

      
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    The
provisions of this paragraph (c), including by operation of subsections (C) or
(D) of paragraph (ii) below, shall not operate to increase the Exercise Price or
to reduce the number of shares of Common Stock subject to purchase upon exercise
of this Warrant.

     

    (ii) For the
purposes of any adjustment of the Exercise Price pursuant to paragraph (i)
above, the following provisions shall be applicable:

     

    
      	
              (A)  

            	
              In
      the case of the issuance, sale or distribution of Common Stock for cash in
      a public offering or private placement, the consideration received
      therefor shall be deemed to be the amount received by the Company therefor
      before deducting therefrom any discounts, commissions or placement fees
      payable by the Company to any underwriter or placement agent in connection
      therewith;

            

    

     

    
      	
              (B)  

            	
              In
      the case of the issuance of Common Stock for a consideration in whole or
      in part other than cash, the consideration other than cash received by the
      Company shall be deemed to be the fair market value of such consideration,
      as determined in good faith by the Board of Directors of the Company,
      irrespective of any accounting
treatment;

            

    

     

    
      	
              (C)  

            	
              In
      the case of the issuance, sale, distribution or granting (whether directly
      or by assumption in a merger or otherwise) of any rights to subscribe for
      or to purchase, or any warrants or options for the purchase of, Common
      Stock or any stock or securities convertible into or exchangeable for
      Common Stock (such rights, warrants or options being herein called “Options” and such
      convertible or exchangeable stock or securities being herein called “Convertible
      Securities”), whether or not such Options or the rights to convert
      or exchange any such Convertible Securities are immediately exercisable,
      then, for purposes of paragraph (i) above, the aggregate maximum number of
      shares of Common Stock issuable upon the exercise of such Options or upon
      conversion or exchange of such Convertible Securities and subsequent
      conversion or exchange thereof shall be deemed to have been issued as of
      the date of issuance of such Options, Convertible Securities or rights and
      thereafter shall be deemed to be outstanding; and the Company shall be
      deemed to have received as consideration the amount equal to the
      consideration, if any, received by the Company upon the issuance of such
      options or rights plus the minimum additional consideration, if any, to be
      received by the Corporation upon the conversion or exchange of such
      Convertible Securities or the exercise of Options or rights (such
      consideration in each case to be determined in the manner provided in
      Sections 9(ii)(A) and 9(ii)(B));

            

    

     

    
      
        
        

      

      
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              (D)  

            	
              If
      the purchase price provided for in any Option referred to in paragraph (i)
      above, the additional consideration, if any, payable upon the conversion
      or exchange of any Convertible Securities referred to in subsection (C)
      above, or the rate at which any Convertible Securities referred to in
      subsection (C) above are convertible into or exchangeable for Common Stock
      shall change at any time (other than under or by reason of provisions
      designed to protect against, and having the effect of protecting against,
      dilution upon an event which results in a related adjustment pursuant to
      this Section 9), then, the number of shares of Common Stock purchasable
      upon exercise of this  Warrant and the Exercise Price then in
      effect shall forthwith be readjusted (effective only with respect to any
      exercise of this Warrant after such readjustment) to the number of shares
      of Common Stock purchasable upon exercise of this Warrant and the Exercise
      Price which would then be in effect had the adjustment made upon the
      issue, sale, distribution or grant of such Options or Convertible
      Securities been made based upon such changed purchase price, additional
      consideration or conversion rate, as the case may be; provided, however, that
      such readjustment shall give effect to such change only with respect to
      such Options and Convertible Securities as then remain
      outstanding;

            

    

     

    
      	
              (E)  

            	
              Upon
      the expiration of any such Options or the termination of any rights,
      Convertible Securities or exchangeable securities, the applicable Exercise
      Price shall forthwith be readjusted to such Exercise Price as would have
      been in effect at the time of such expiration or termination had such
      Options, rights, Convertible Securities or exchangeable securities, to the
      extent outstanding immediately prior to such expiration or termination,
      never been issued;

            

    

     

    
      	
              (F)  

            	
              If
      the Company shall pay a dividend or make any other distribution upon any
      capital stock of the Company payable in Common Stock, Options or
      Convertible Securities, then, for purposes of paragraph (i) above, such
      Common Stock, Options or Convertible Securities, as the case may be, shall
      be deemed to have been issued or sold without consideration;
      and

            

    

     

    
      	
              (G)  

            	
              If
      the Company shall declare a record date for the holders of the Common
      Stock for the purpose of entitling them to receive a dividend or other
      distribution payable in Common Stock, Options or Convertible Securities or
      to subscribe for or purchase Common Stock, Options or Convertible
      Securities, then such record date shall be deemed to be the date of the
      issue, sale, distribution or grant of the shares of Common Stock deemed to
      have been issued or sold upon the declaration of such dividend or the
      making of such other distribution or the date of the granting of such
      right of subscription or purchase, as the case may
  be.

            

    

     

    
      
        
        

      

      
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    (iii) For
purposes of determining whether any adjustment is required pursuant to this
Section 9(c), any security of the Company having rights substantially equivalent
to the Common Stock as to dividends or upon liquidation, dissolution or winding
up of the Company shall be treated as if such security were Common
Stock.  No further adjustment of the Exercise Price adjusted upon the
issuance of any such options, rights, convertible securities or exchangeable
securities shall be made as a result of the actual issuance of Common Stock on
the exercise of any such rights or options or any conversion or exchange of any
such securities.

     

    (iv) “Excluded Stock” shall mean
(A) shares of Common Stock issued (or issuable upon exercise of rights, options
or warrants outstanding from time to time) granted or issued to officers,
directors or employees of, or consultants to, the Company pursuant to a stock
grant, stock option plan, employee stock purchase plan, restricted stock plan or
other similar plan or agreement or otherwise, in each case as approved by the
Board of Directors, (B) shares of Common Stock issued (or issuable upon exercise
of rights, options or warrants outstanding from time to time) granted or issued
to financial institutions, equipment lessors, brokers or similar persons in
connection with commercial credit arrangements, equipment financings, commercial
property lease transactions or similar transactions, (C) securities issued in
connection with a strategic alliance or similar transaction, (D) shares of
Common Stock issued (or issuable upon exercise of rights, options or warrants
outstanding from time to time) for bona fide services, (E) shares issued or
issuable as a result of any stock split, combination, dividend, distribution,
reclassification, exchange or substitution, and (F) shares of Common Stock
issuable upon exercise of rights, options, warrants, notes or other rights to
acquire securities of the Corporation outstanding as of the date
hereof.

     

    (d) Number of Warrant
Shares.  Simultaneously with any adjustment to the Exercise
Price pursuant to paragraph (a) of this Section, the number of Warrant Shares
that may be purchased upon exercise of this Warrant shall be increased or
decreased proportionately, so that after such adjustment the aggregate Exercise
Price payable hereunder for the adjusted number of Warrant Shares shall be the
same as the aggregate Exercise Price in effect immediately prior to such
adjustment.

     

    (e) Calculations.  All
calculations under this Section 9 shall be
made to the nearest cent or the nearest 1/100th of a
share, as applicable.  The number of shares of Common Stock
outstanding at any given time shall not include shares owned or held by or for
the account of the Company, and the disposition of any such shares shall be
considered an issue or sale of Common Stock.

     

    
      
        
        

      

      
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    (f) Notice of
Adjustments.  Upon the occurrence of each adjustment pursuant
to this Section
9, the Company at its expense will promptly compute such adjustment in
accordance with the terms of this Warrant and prepare a certificate setting
forth such adjustment, including a statement of the adjusted Exercise Price and
adjusted number or type of Warrant Shares or other securities issuable upon
exercise of this Warrant (as applicable), describing the transactions giving
rise to such adjustments and showing in detail the facts upon which such
adjustment is based.  Upon written request, the Company will promptly
deliver a copy of each such certificate to the Holder and to the Company's
Transfer Agent.

     

    (g) Notice of Corporate
Events.  If the Company (i) declares a dividend or any other
distribution of cash, securities or other property in respect of its Common
Stock, including without limitation any granting of rights or warrants to
subscribe for or purchase any capital stock of the Company or any Subsidiary,
(ii) authorizes or approves, enters into any agreement contemplating or solicits
stockholder approval for any Fundamental Transaction or (iii) authorizes the
voluntary dissolution, liquidation or winding up of the affairs of the Company,
then the Company shall deliver to the Holder a notice describing the material
terms and conditions of such transaction, at least 20 calendar days prior to the
applicable record or effective date on which a Person would need to hold Common
Stock in order to participate in or vote with respect to such transaction, and
the Company will take all steps reasonably necessary in order to insure that the
Holder is given the practical opportunity to exercise this Warrant prior to such
time so as to participate in or vote with respect to such transaction; provided,
however, that the failure to deliver such notice or any defect therein shall not
affect the validity of the corporate action required to be described in such
notice.

     

    10. Payment
of Exercise Price. The Holder may
pay the Exercise Price in one of the following manners:

     

    (a) Cash
Exercise.  The Holder may deliver immediately available funds;
or

     

    (b) Cashless
Exercise.  The Holder may notify the Company in an Exercise
Notice of its election to utilize cashless exercise, in which event the Company
shall issue to the Holder the number of Warrant Shares determined as
follows:

     

    X = Y
[(A-B)/A]

     

    where:

     

    X = the
number of Warrant Shares to be issued to the Holder.

     

    Y = the
number of Warrant Shares with respect to which this Warrant is being
exercised.

     

    A = the
average of the closing prices for the five Trading Days immediately prior to
(but not including) the Exercise Date.

     

    B = the
Exercise Price.

     

    For
purposes of Rule 144 promulgated under the Securities Act, it is intended,
understood and acknowledged that the Warrant Shares issued in a cashless
exercise transaction shall be deemed to have been acquired by the Holder, and
the holding period for the Warrant Shares shall be deemed to have commenced, on
the date this Warrant was originally issued, subject to any change of law after
the date hereof.

     

    
      
        
        

      

      
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    11. Limitations on
Exercise.  Notwithstanding anything to the contrary contained
herein, the number of shares of Common Stock that may be acquired by the Holder
upon any exercise of this Warrant (or otherwise in respect hereof) shall be
limited to the extent necessary to insure that, following such exercise (or
other issuance), the total number of shares of Common Stock then beneficially
owned by such Holder and its affiliates and any other Persons whose beneficial
ownership of Common Stock would be aggregated with the Holder's for purposes of
Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), does not
exceed 9.999% of the total number of issued and outstanding shares of Common
Stock (including for such purpose the shares of Common Stock issuable upon such
exercise).  For such purposes, beneficial ownership shall be
determined in accordance with Section 13(d) of the Exchange Act and the rules
and regulations promulgated thereunder.  This provision shall not
restrict the number of shares of Common Stock which a Holder may receive or
beneficially own in order to determine the amount of securities or other
consideration that such Holder may receive in the event of a Fundamental
Transaction as contemplated in Section 9 of this Warrant.  The
provisions of this Section 11 may be waived by such Holder, at the election of
such Holder, upon not less than 61 days’ prior notice to the Company, and the
provisions of this Section 11 shall continue to apply until such 61st day (or
such later date, as determined by such Holder, as may be specified in such
notice of waiver).

     

    12. No Fractional
Shares.  No fractional shares of Warrant Shares will be issued
in connection with any exercise of this Warrant.  In lieu of any
fractional shares which would otherwise be issuable, the Company shall pay cash
equal to the product of such fraction multiplied by the closing price of one
Warrant Share as reported by the applicable exchange or bulletin board on the
date of exercise.

     

    13. Notices.  Any
and all notices or other communications or deliveries hereunder (including,
without limitation, any Exercise Notice) shall be in writing and shall be deemed
given and effective on the earliest of (i) the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile number
specified in this Section prior to 6:30 p.m. (New York City time) on a Trading
Day, (ii) the next Trading Day after the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number specified in
this Section on a day that is not a Trading Day or later than 6:30 p.m. (New
York City time) on any Trading Day, (iii) the Trading Day following the date of
mailing, if sent by nationally recognized overnight courier service, or (iv)
upon actual receipt by the party to whom such notice is required to be
given.  The addresses for such communications shall be:  (i)
if to the Company, to ProLink Holdings Corp., Attn: Chief Executive Officer,
Facsimile No.: (480) 782-0968, or (ii) if to the Holder, to the address or
facsimile number appearing on the Warrant Register or such other address or
facsimile number as the Holder may provide to the Company in accordance with
this Section.

     

    14. Warrant
Agent.  The Company shall serve as warrant agent under this
Warrant.  Upon 30 days' notice to the Holder, the Company may appoint
a new warrant agent.  Any corporation into which the Company or any
new warrant agent may be merged or any corporation resulting from any
consolidation to which the Company or any new warrant agent shall be a party or
any corporation to which the Company or any new warrant agent transfers
substantially all of its corporate trust or shareholders services business shall
be a successor warrant agent under this Warrant without any further
act.  Any such successor warrant agent shall promptly cause notice of
its succession as warrant agent to be mailed (by first class mail, postage
prepaid) to the Holder at the Holder's last address as shown on the Warrant
Register.

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

    15. Miscellaneous.

     

    (a) This
Warrant shall be binding on and inure to the benefit of the parties hereto and
their respective successors and assigns.  Subject to the preceding
sentence, nothing in this Warrant shall be construed to give to any Person other
than the Company and the Holder any legal or equitable right, remedy or cause of
action under this Warrant.  This Warrant may be amended only in
writing signed by the Company and the Holder and their successors and
assigns.

     

    (b) All
questions concerning the construction, validity, enforcement and interpretation
of this Warrant shall be governed by and construed and enforced in accordance
with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof.  Each party agrees that all
legal proceedings concerning the interpretations, enforcement and defense of
this Warrant and the transactions herein contemplated (“Proceedings”) (whether
brought against a party hereto or its respective affiliates, employees or
agents) may be commenced non-exclusively in the state and federal courts sitting
in the City of New York, Borough of Manhattan (the “New York
Courts”).  Each party hereto hereby irrevocably submits to the
non-exclusive jurisdiction of the New York Courts for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to
assert in any Proceeding, any claim that it is not personally subject to the
jurisdiction of any New York Court, or that such Proceeding has been commenced
in an improper or inconvenient forum. Each party hereto hereby irrevocably
waives personal service of process and consents to process being served in any
such Proceeding by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Warrant and agrees that such service shall
constitute good and sufficient service of process and notice
thereof.  Nothing contained herein shall be deemed to limit in any way
any right to serve process in any manner permitted by law.  Each party
hereto hereby irrevocably waives, to the fullest extent permitted by applicable
law, any and all right to trial by jury in any legal proceeding arising out of
or relating to this Warrant or the transactions contemplated
hereby.  If either party shall commence a Proceeding to enforce any
provisions of this Warrant, then the prevailing party in such Proceeding shall
be reimbursed by the other party for its attorney’s fees and other costs and
expenses incurred with the investigation, preparation and prosecution of such
Proceeding.

     

    (c) The
headings herein are for convenience only, do not constitute a part of this
Warrant and shall not be deemed to limit or affect any of the provisions
hereof.

     

    (d) In case
any one or more of the provisions of this Warrant shall be invalid or
unenforceable in any respect, the validity and enforceability of the remaining
terms and provisions of this Warrant shall not in any way be affected or
impaired thereby and the parties 

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

    will
attempt in good faith to agree upon a valid and enforceable provision which
shall be a commercially reasonable substitute therefor, and upon so agreeing,
shall incorporate such substitute provision in this Warrant.

     

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK,

    SIGNATURE
PAGE FOLLOWS]

     

     

     

     

     

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its
authorized officer as of the date first indicated above.

     

    
      	
            	

              PROLINK
      HOLDINGS CORP.

            
	 	 
	 	 
	 
      	
              By:

            	
              /s/
      Lawrence D. Bain

            
	 
      	
            	

              Name:
      Lawrence D. Bain

            
	 
      	
            	

              Title:
      Chief Executive Officer

            

    

    

    

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

     

    PROLINK
HOLDINGS CORP.

     

    WARRANT
ORIGINALLY ISSUED _____________

     

    WARRANT
NO. __

     

    EXERCISE
NOTICE

     

    To ProLink Holdings
Corp.:

     

    The
undersigned hereby irrevocably elects to purchase  _____________
shares of Common Stock pursuant to the above captioned Warrant, and, if such
Holder is not utilizing the cashless exercise provisions set forth in the
Warrant, encloses herewith $________ in cash, certified or official bank check
or checks or other immediately available funds, which sum represents the
aggregate Exercise Price (as defined in the Warrant) for the number of shares of
Common Stock to which this Exercise Notice relates, together with any applicable
taxes payable by the undersigned pursuant to the Warrant.

     

    By its
delivery of this Exercise Notice, the undersigned represents and warrants to the
Company that in giving effect to the exercise evidenced hereby the Holder will
not beneficially own in excess of the number of shares of Common Stock
(determined in accordance with Section 13(d) of the Securities Exchange Act of
1934) permitted to be owned under Section 11 of this Warrant to which this
notice relates.

     

    By its
delivery of this Exercise Notice, the undersigned represents and warrants to the
Company that:

     

    (a) Investment
Intent.  The undersigned is acquiring the Common Stock as
principal for its own account for investment purposes only and not with a view
to or for distributing or reselling such Common Stock or any part thereof,
without prejudice, however, to such undersigned's right at all times to sell or
otherwise dispose of all or any part of such Common Stock in compliance with
applicable federal and state securities laws.  Subject to the
immediately preceding sentence, nothing contained herein shall be deemed a
representation or warranty by the undersigned to hold the Common Stock for any
period of time.  The undersigned is acquiring the Common Stock
hereunder in the ordinary course of its business. The undersigned does not have
any agreement or understanding, directly or indirectly, with any person to
distribute any of the Common Stock.  Notwithstanding the foregoing,
nothing herein shall prevent the undersigned from transferring the Common Stock
issuable upon exercise of this Warrant.

     

    (b) Investor
Status.  At  the date hereof the undersigned is, an
"accredited investor" as defined in Rule 501(a) under the Securities
Act.  The undersigned is not a registered broker-dealer under Section
15 of the Exchange Act.

     

    The
undersigned requests that certificates for the shares of Common Stock issuable
upon this exercise be issued in the name of

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    PLEASE
INSERT SOCIAL SECURITY OR

    TAX
IDENTIFICATION NUMBER

     

    (Please
print name and address)

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Warrant Shares Exercise
Log

     

     

     

    
      	
              Date

            	
              Number
      of Warrant 

              Shares
      Available to be 

              Exercised

            	
              Number
      of Warrant 

              Shares
      Exercised

            	
              Number
      of Warrant Shares 

              Remaining
      to be Exercised

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 
      	 
      	 
      	 
      

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PROLINK
HOLDINGS CORP.

     

    WARRANT
ORIGINALLY ISSUED _______________

     

    WARRANT
NO. __

     

    FORM OF
ASSIGNMENT

     

    [To be
completed and signed only upon transfer of Warrant]

     

    FOR VALUE
RECEIVED, the undersigned hereby sells, assigns and transfers unto
________________________________ the right represented by the above-captioned
Warrant to purchase  ____________ shares of Common Stock to which such
Warrant relates and appoints ________________ attorney to transfer said right on
the books of the Company with full power of substitution in the
premises.

     

    Dated:                      _______________,
____

     

    
      	 	
              _______________________________________

            
	 	
              (Signature
      must conform in all respects to name of 

              holder
      as specified on the face of the Warrant)

            
	 	 
	 	 
	 	 
	 	
              ___ 
      ____________________________________

            
	 	
              Address
      of Transferee

            
	 	 
	 	 
	 	 
	 	
              _______________________________________

            
	 	
              _______________________________________

            

    

    In the
presence of:

     

     

    __________________________LV
ADMINISTRATIVE SERVICES, INC.

    335
Madison Avenue, 10th Floor

    New
York, New York 10017

     

    April 15,
2009

    ProLink
Holdings Corp.

    ProLink
Solutions, LLC

    410
Benson Lane

    Chandler,
AZ 85224

    Attention:  Lawrence
Bain, Chief Executive Officer

     

    Re:           Forbearance Agreement and
Omnibus Amendment to Agreements

     

    Ladies
and Gentlemen:

     

    Reference
is hereby made to (a) that certain Second Amended and Restated Security
Agreement dated as of September __, 2008 by and among ProLink Holdings Corp., a
Delaware corporation (“Parent”), ProLink
Solutions, LLC, a Delaware limited liability company (“Solutions”) (Parent
and Solutions, each a “Company” and
collectively, the “Companies”), LV
Administrative Services, Inc., as Administrative and Collateral Agent (“Agent”), Valens U.S.
SPV I, LLC (“Valens
U.S.”), Valens Offshore SPV I, LTD (“Valens Offshore”),
PSource Structured Debt Limited (“PSource”) and
Calliope Capital Corporation (“Calliope” and
collectively with Valens U.S., Valens Offshore and PSource, the “Lenders”; and the
Lenders, collectively with Agent, the “Creditor Parties”)
(as amended, restated, modified and/or supplemented from time to time, the
“Security
Agreement”), (b) that certain Secured Term Note dated March 4, 2009
from the Companies in favor of Valens U.S. in the original principal amount of
$1,400,000.00 (as amended, restated, modified and/or supplemented from time to
time, the “Secured
Term Note”), (c) that certain Amended and Restated Secured
Convertible Term Note signed March 31, 2008 from the Companies in favor of
Valens U.S. in the original principal amount of $1,465,325.27 (as amended,
restated, modified and/or supplemented from time to time, the “Valens U.S. Convertible
Note”), (d) that certain Amended and Restated Secured Convertible
Term Note signed March 31, 2008 from the Companies in favor of Valens Offshore
in the original principal amount of $2,298,374.73 (as amended, restated,
modified and/or supplemented from time to time, the “Valens Offshore Convertible
Note”), (e) that certain Amended and Restated Secured Convertible
Term Note signed March 31, 2008 from the Companies in favor of PSource in the
original principal amount of $2,336,300.00 (as amended, restated, modified
and/or supplemented from time to time, the “PSource Convertible
Note,” and collectively with the Valens U.S. Convertible Note and the
Valens Offshore Convertible Note, the “Convertible Notes”),
(f) that certain Second Amended and Restated Secured Revolving Note signed March
31, 2008 from the Companies in favor of Calliope in the original principal
amount of $6,000,000 (as amended, restated, modified and/or supplemented from
time to time, the “Revolving Credit
Note”) and (g) that certain Common Stock Purchase Warrant issued
March 4, 2009 from Parent in favor of Valens U.S. (as amended, restated,
modified and/or supplemented from time to time, the “Warrant,” and
collectively with the Secured Term Note, the Convertible Notes, the Revolving
Credit Note and the other Ancillary Agreements, the “Financing
Agreements”).  Capitalized terms used but not defined herein
shall have the meanings ascribed to them in the Security Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Reference
is also hereby made to the fact that certain Events of Default have occurred
through the date hereof as more particularly identified on Exhibit A attached
hereto (each a “Designated Default”
and collectively, the “Designated
Defaults”).

     

    Companies
have requested that the Creditor Parties forbear for a period of time from
exercising their rights and remedies under the Financing Agreements and
applicable law arising from the occurrence of the Designated Defaults and to
amend certain of the Financing Agreements and Creditor Parties are willing to do
so on the terms and conditions set forth below.

     

    In
consideration of the foregoing and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and subject to
satisfaction of the conditions precedent set forth below, the parties hereto
hereby agree as follows:

     

    1. Acknowledgment Regarding
Previous Amendments.  The parties hereto (i) acknowledge that
the parties hereto (A) previously amended the Security Agreement pursuant to a
certain letter agreement dated March 4, 2009 (as amended, restated, modified
and/or supplemented from time to time, the “Existing Amendment”)
and (B) entered into an overadvance letter agreement with respect to the
Security Agreement dated February 23, 2009 (as amended, restated, modified
and/or supplemented from time to time, the “Overadvance Letter”)
and (ii) agree that all references to the Amended and Restated Security
Agreement dated as of March 31, 2008 by and among the parties hereto and the
defined terms “Agreement” and “Security Agreement” set forth in the Existing
Amendment, the Overadvance Letter, the Secured Term Note, the Warrant and all
other instruments, documents and agreements executed in connection with the
Existing Amendment, the Overadvance Letter, the Secured Term Note and the
Warrant shall be deemed, for all purposes, to refer to the Security
Agreement.

     

    2. Forbearance.

     

    (a) Each
Company hereby acknowledges and agrees that the Designated Defaults have
occurred and are continuing, each of which entitles each Creditor Party to
exercise its rights and remedies under the Financing Agreements, applicable law
or otherwise.  No Creditor Party has waived, presently intends to
waive and may ever waive such Designated Defaults and nothing contained herein
or the transactions contemplated hereby shall be deemed to constitute in any
manner whatsoever any such waiver; provided, however, that the Creditor Parties
temporarily waive, through the expiration of the Forbearance Period (as defined
below), any Events of Default arising solely from the Company’s failure to
timely deliver to Agent audited year end financial statements for its fiscal
year ended December 31, 2008 as a result of not having obtained an audit report
of its independent certified public accountants with respect thereto (“Audit Report”) and
the Company’s resulting failure to file with the SEC its Form 10-K for such
fiscal year solely on account of not having obtained the Audit
Report.  Each Company hereby acknowledges and agrees that each
Creditor Party has the presently exercisable right to declare the Obligations to
be immediately due and payable under the terms of the Financing
Agreements.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (b) In
reliance upon the representations, warranties and covenants of each Company
contained in this letter agreement (this “Agreement”), and
subject to the terms and conditions of this Agreement (including, without
limitation, the conditions to effectiveness set forth in Section 4 below) and
any agreements, documents or instruments executed in connection herewith, during
the Forbearance Period (as defined below), each Creditor Party will forbear from
exercising its rights and remedies under the Financing Agreements and applicable
law in respect of or arising out of any and all Designated
Defaults.  Notwithstanding the foregoing, nothing contained herein
shall impair in any manner whatsoever any Creditor Party’s right to administer
the credit facility and/or to collect, receive and/or apply proceeds of each
Company’s accounts receivable and/or any other Collateral to the Obligations (as
defined in each Financing Agreement in which such term is defined), in each
case, in accordance with the terms of the Financing Agreements.  For
purposes of this Agreement, the term “Forbearance Period”
shall mean the period commencing on the first date upon which all of the
conditions to the effectiveness of this Agreement set forth in Section 4 below
shall have been satisfied to the satisfaction of the Creditor Parties and ending
on the earlier to occur of (i) June 3, 2009 and (ii) the occurrence of any
Forbearance Default (as defined below).

     

    (c) Upon the
termination of the Forbearance Period, the agreement of Creditor Parties to
forbear with respect to such Designated Defaults existing or continuing as of
such termination shall automatically and without further action terminate and be
of no further force and effect, it being expressly agreed that the effect of
such termination will be to permit each Creditor Party to exercise such rights
and remedies immediately, including, but not limited to, the acceleration of all
indebtedness and obligations of the Companies to the Creditor Parties, or any
one or more of them, in any case without any further notice, passage of time or
forbearance of any kind.  It is further understood that if either of
the Companies shall apply for, consent to or suffer to exist the appointment of,
or the taking of possession by, a receiver, custodian, trustee or liquidator of
itself or of all or a substantial part of its property, (ii) make a general
assignment for the benefit of creditors, (iii) commence a voluntary case under
the federal bankruptcy laws (as now or hereafter in effect), (iv) be adjudicated
a bankrupt or insolvent, (v) file a petition seeking to take advantage of any
other law providing for the relief of debtors, (vi) suffer the filing of any
petition against it in any involuntary case under such bankruptcy laws, or (vii)
take any action for the purpose of effecting any of the foregoing, the
Obligations shall become automatically due and payable without declaration,
notice or demand by any of the Creditor Parties.

     

    (d) The
occurrence of any one or more of the following events during the Forbearance
Period shall constitute a “Forbearance
Default”:  (i) the existence of any Event of Default other than
a Designated Default; (ii) any representation or warranty of either Company
under this Agreement, any other New Agreement (as defined below) or any
Financing Agreement shall be false, misleading or incorrect in any material
respect; (iii) either Company’s failure to comply with the covenants, conditions
and agreements contained in this Agreement, any other New Agreement (as defined
below) or any Financing Agreement; or (iv) any person or entity, other than
Creditor Parties, shall at any time exercise for any reason any of its rights or
remedies, against either Company or either Company’s properties or assets (other
than the commencement of a lawsuit against either Company which is not deemed
material by the Creditor Parties in the exercise of their reasonable
discretion).

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    3. Amendments to Financing
Agreements.

     

    (a) Section 3
of the Security Agreement is hereby amended in its entirety to provide as
follows:

     

    “3.           Repayment of the
Loans.  The Companies (a) may prepay the Obligations from time
to time in accordance with the terms and provisions of the Notes (and Section 18
hereof if such prepayment is due to a termination of this Agreement); (b) shall
repay on the expiration of the Term Loan Term (i) the then aggregate outstanding
principal balance of the A&R Closing Date Term Loan together with accrued
and unpaid interest, fees and charges; and (ii) all other amounts owed the
Lenders under the Secured Convertible Term Notes; (c) shall repay on the
expiration of the Revolver Term (i) the then aggregate outstanding principal
balance of the Revolving Loans together with accrued and unpaid interest, fees
and charges; and (ii) all other Obligations in respect of the Revolving Loans
owed the Creditor Parties under this Agreement and the Ancillary Agreements; (d)
subject to Section 2(a)(ii), shall repay on any day on which the then aggregate
outstanding principal balance of the Revolving Loans is in excess of the Formula
Amount at such time, the Revolving Loans in an amount equal to such excess; and
(e) shall repay on the expiration of the Second Term Loan Term (i) the then
aggregate outstanding principal balance of the Second Term Loan together with
accrued and unpaid interest, fees and charges; and (ii) all other amounts owed
to Valens U.S. under the Secured Term Note.  Any payments of
principal, interest, fees or any other amounts payable hereunder or under any
Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due
date thereof in immediately available funds.  For the avoidance of
doubt, the parties agree that the Companies may prepay the Obligations under the
Secured Term Note without prepaying the other Obligations, notwithstanding any
terms or provisions in the Notes to the contrary.”

     

    (b) The
following definitions in Annex A to the
Security Agreement are hereby amended in their entirety to provide as
follows:

     

    “Second Term Loan Maturity
Date” means June 3, 2009.

     

    (c) the
following definitions are hereby added to Annex A to the
Security Agreement in their appropriate alphabetical order:

     

    “Original Closing
Date” means August 17, 2007.

     

    (d) The
reference to “April 3, 2009” set forth in the last line of the first paragraph
of the Secured Term Note is deleted and replaced with June 3, 2009.

     

    (e) The last
sentence of Section 1.1 of the Secured Term Note is deleted and replaced in its
entirety with the following:

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    “Interest
shall be (i) calculated on the basis of a 360 day year and (ii) payable monthly
in arrears, commencing on May 1, 2009, and on the first Business Day of each
consecutive calendar month thereafter through and including the Maturity Date,
whether by acceleration or otherwise.”

     

    (f)    Notwithstanding
anything to the contrary set forth in the Convertible Notes and provided no
Forbearance Default shall have occurred, with respect to the Companies’
Obligations under the Convertible Notes, for the months of April and May 2009,
the Companies shall only be required to make interest payments thereunder with
such interest payable in accordance with the terms of the Convertible
Notes.  For purposes of clarity, provided no Forbearance Default shall
have occurred, there shall be no payments of principal due on April 1, 2009 and
May 1, 2009 under the Convertible Notes (the “Deferred Principal
Payments”); such Deferred Principal Payments being due and payable on the
Maturity Date (as defined in the Convertible Notes).  In the event a
Forbearance Default occurs, the Deferred Principal Payments shall be
automatically due and payable in accordance with the Convertible Notes without
giving effect to this paragraph.

     

    (g)    Notwithstanding
anything to the contrary set forth in the Security Agreement or in any of the
Ancillary Agreements, and subject to all of the terms and conditions applicable
to Lenders making Revolving Loans to the Companies as set forth in the Security
Agreement and the Ancillary Agreements, during the Forbearance Period, the
Lenders shall only make Revolving Loans to the Companies in their sole
discretion and in accordance with the budget prepared by the Companies and
attached hereto as Exhibit A (the “Budget”).  In
addition to the other requirements of Section 4 of the Security Agreement, each
request for a Revolving Loan (each a “Revolving Loan
Request”) shall specify the items to be paid with the proceeds of the
requested Revolving Loan and shall be accompanied by such other information
requested by Agent with respect to such items.  All Revolving Loans
shall be used solely for the purpose of paying for the items specified in the
associated Revolving Loan Request.

     

     
(h)    The
definition of “Specified Number” set forth in clause (h) of the definition
section of the Warrant is hereby amended in its entirety to provide as
follows:

     

    “(h)    The term
Specified Number means, on any date on which the Company receives an Exercise
Notice from the Holder, a number of shares of Common Stock computed using the
following formula:

     

    (A/(1-A)
x (B-C))-C

     

    where (i)
“A” equals 0.20 (subject to adjustment in accordance with the following
sentence), (ii) “B” equals the number of shares of Common Stock outstanding on a
Partially Diluted Basis on the date of exercise, and (iii) “C” equals the number
of shares of Common Stock previously issued to the Holder in connection with
partial exercises of this Warrant.  In the event the outstanding
principal balance under the Secured Term Note, together with all accrued and
unpaid interest thereon and all fees and expenses owing to the Holder in
connection therewith, have not been repaid in full on or prior to June 3, 2009,
“A” shall equal 0.80.  As used in this Warrant, the term “Partially
Diluted Basis” means the sum of (i) all shares of Common Stock outstanding as of
the date hereof plus (ii) all shares of Common Stock (“Underlying Shares”)
issuable on conversion or exercise of securities outstanding as of the date
hereof which are convertible into or exercisable for Common Stock, including
pursuant to this Warrant, having a conversion or exercise price equal to or less
than one hundred and fifteen percent (115%) of the Fair Market Value (as defined
in Section 1.2 hereof) plus (iii) all shares
of Common Stock and all Underlying Shares issued by the Company in connection
with the first $2,000,000 in gross proceeds from equity financings consummated
subsequent to the date hereof.  As of the date of this Warrant, this
Warrant is exercisable for 12,827,296 shares of Common Stock (the “Warrant
Shares”).  Notwithstanding adjustments to the Specified Number from
time to time, once shares of Common Stock are issued upon exercise hereunder to
the Holder of this Warrant, the Company shall have no claim, and hereby waives,
any potential claim to return of such shares of issued Common
Stock.”

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (i) The
Companies shall repay the outstanding principal balance of the Overadvance (as
defined in the Overadvance Letter) by no later than June 3, 2009 or earlier upon
the occurrence of a Forbearance Default, provided, however, that notwithstanding
the foregoing, the Companies shall continue to be obligated to prepay the
Overadvances in accordance with the terms of the Overadvance
Letter.

     

    4.    Conditions to
Effectiveness.

     

    This
Agreement shall become effective upon satisfaction of the following conditions
precedent:  (i) Agent shall have received a fully executed
original of this Agreement, (ii) Agent shall have received evidence of the
purchase (the “Trinad
Equity Purchase”) by Trinad Capital Master Fund, Ltd. (“Trinad”) from Parent
of equity interests in Parent for an aggregate cash purchase price of not less
than $250,000 on terms, and pursuant to written agreements, satisfactory to
Creditor Parties, and the net cash proceeds therefrom shall have been remitted
to Agent for application to the Overadvance in accordance with the Overadvance
Letter, (iii) Companies shall have reimbursed the Creditor Parties for the full
amount of all of the Creditor Parties’ attorneys’ fees and costs incurred in
connection with the preparation and negotiation of this Agreement and each of
the instruments, documents and agreements contemplated hereby (collectively with
this Agreement, the “New Agreements”) and
in connection with the closing of the transactions described herein and therein,
and (iv) Agent shall have received all such other certificates,
instruments, documents, agreements and opinions of counsel as may be required by
Agent or its counsel, each of which shall be in form and substance satisfactory
to Agent and its counsel.

     

    5.    Representations, Warranties,
Reaffirmations and Covenants.  To induce Creditor Parties to,
among other things, agree to the forbearance terms and the amendments set forth
above, each Company:

     

    (a) represents
and warrants that (i) except as disclosed in the Company’s Exchange Act Filing
and other than certain unvested employee stock options and the equity interests
acquired by Trinad in connection with the Trinad Equity Purchase, there are no
outstanding options, warrants, rights (including conversion or preemptive rights
and rights of first refusal), proxy or stockholder agreements, or arrangements
or agreements of any kind for the purchase or acquisition from the Parent of any
of its securities, (ii) all issued and outstanding shares of the Parent’s common
stock have been duly authorized and validly issued and are fully paid and
nonassessable, (iii) the rights, preferences, privileges and restrictions of the
shares of the Parent’s common stock are as stated in the Parent’s Certificate of
Incorporation as amended through the date hereof, and (iv) all issued and
outstanding shares of the Parent’s capital stock has been and shall be issued in
compliance with all applicable state and federal laws concerning the issuance of
securities;

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    (b) acknowledges,
ratifies and confirms that all of the terms, conditions, representations and
covenants contained in the Financing Agreements to which it is a party are in
full force and effect and shall remain in full force subject to the terms of
this Agreement and effect after giving effect to the execution and effectiveness
of the New Agreements;

     

    (c) acknowledges,
ratifies and confirms that the defined term “Obligations” under the Security
Agreement include, without limitation, all obligations and liabilities of the
Company under the New Agreements;

     

    (d) acknowledges
and confirms that (i) the occurrence of a breach and/or an Event of Default
under any of the New Agreements shall constitute a breach and/or an Event of
Default under each of the Financing Agreements, (ii) the occurrence of a breach
and/or an Event of Default under any of the Financing Agreements shall
constitute a breach and/or an Event of Default under the New Agreements and
(iii) the New Agreements shall constitute Ancillary Agreements;

     

    (e) represents
and warrants that no offsets, counterclaims or defenses exist as of the date
hereof with respect to the undersigned’s obligations under the Financing
Agreements to which they are a party;

     

    (f) acknowledges,
ratifies and confirms that the Collateral secures all obligations and
liabilities of each Company to the Creditor Parties under each Financing
Agreement and each New Agreement (including interest accruing after the filing
of any petition in bankruptcy, or the commencement of any insolvency,
reorganization or like proceeding, whether or not a claim for post-filing or
post-petition interest is allowed or allowable in such proceeding), whether now
existing or hereafter arising, direct or indirect, liquidated or unliquidated,
absolute or contingent;

     

    (g) represents
and warrants that (i) all of the representations made by or on behalf of such
Company in the Financing Agreements to which it is a party are true and correct
in all material respects on and as of the date hereof; (ii) it has the corporate
or limited liability company, as applicable, power and authority to execute and
deliver the New Agreements to which it is a party; (iii) all corporate or
limited liability company, as applicable, action on the part of each Company
(including their respective officers and directors) necessary for the
authorization of the New Agreements and the performance of all obligations of
the undersigned hereunder and thereunder has been taken; and (iv) the New
Agreements, when executed and delivered and, to the extent it is a party
thereto, will be valid and binding obligations of the undersigned;

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    (h) releases,
remises, acquits and forever discharges each Creditor Party and its respective
employees, agents, representatives, consultants, attorneys, fiduciaries,
officers, directors, partners, predecessors, successors and assigns, subsidiary
corporations, parent corporations, and related corporate divisions (all of the
foregoing hereinafter called the “Released Parties”),
from any and all actions and causes of action, judgments, executions, suits,
debts, claims, demands, liabilities, obligations, damages and expenses of any
and every character, known or unknown, direct and/or indirect, at law or in
equity, of whatsoever kind or nature, for or because of any matter or things
done, omitted or suffered to be done by any of the Released Parties prior to and
including the date of execution hereof, and in any way directly or indirectly
arising out of or in any way connected to this Agreement, the Financing
Agreements, the New Agreements and any other document, instrument or agreement
made by the undersigned in favor of a Creditor Party; and

     

    (i) covenants
and agrees that if the outstanding principal balance under the Secured Term
Note, all accrued interest thereon and all other fees, expenses and charges
owing from the Companies related thereto are not paid in full to Valens U.S. on
or prior to June 3, 2009, Parent shall, for the purpose of ensuring that it has
a sufficient number of authorized shares of common stock to enable the exercise
in full of the Warrant, file an amendment to its certificate of incorporation
with the State of Delaware no later than June 6, 2009, effectuating the
previously authorized reverse split of its common stock.

     

    6.    Miscellaneous.

     

    (a) Nothing
contained herein shall (a) limit in any manner whatsoever either Company’s and
each other Person’s obligation to comply with, and the Creditor Parties’ right
to insist on the Companies’ and such other Person’s compliance with, each and
every term of the Financing Agreements, or (b) constitute a waiver of any Event
of Default or any right or remedy available to any Creditor Party, or of the
Companies’ or any other Person’s obligation to pay and perform all of its
obligations, in each case whether arising under the Financing Agreements,
applicable law and/or in equity, all of which rights and remedies howsoever
arising are hereby expressly reserved, are not waived and may, subject to the
terms of Section 2 hereof, be exercised by any Creditor Party at any time;
provided, however, that the Creditor Parties do temporarily waive any Events of
Default arising solely from the Company’s failure to timely deliver to Agent
audited year end financial statements for its fiscal year ended December 31,
2008 as a result of not having obtained the Audit Report and the Company’s
resulting failure to file with the SEC its Form 10-K for such fiscal year solely
on account of not having obtained the Audit Report.

     

    (b) Parent
acknowledges that it has an affirmative obligation to make prompt public
disclosure of material agreements and material amendments to the Financing
Agreements.  Parent intends to file a Form 8-K with respect to the
transactions contemplated by this Agreement no later than four (4) Business Days
following the date hereof, a copy of which shall be delivered to the Creditor
Parties.

     

    (c) Except as
specifically amended herein, the Financing Agreements shall remain in full force
and effect, and are hereby ratified and confirmed.  The execution,
delivery and effectiveness of this Agreement shall not operate as a waiver of
any right, power or remedy 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    of any
Creditor Party, nor constitute a waiver of any provision of any of the Financing
Agreements.  This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns and
shall be governed by and construed in accordance with the laws of the State of
New York.

     

    [remainder
of page intentionally left blank; signature pages follow]

    

     

     

     

     

     

     

     

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (d) This
Agreement may be executed by the parties hereto in one or more counterparts,
each of which shall be deemed an original and all of which when taken together
shall constitute one and the same agreement.  Any signature delivered
by a party by facsimile transmission shall be deemed to be an original signature
hereto.

     

    
      
        
          
            
              	
                    	
                      Very
      truly yours,

                    
	 	 
	 	
                      LV
      ADMINISTRATIVE SERVICES, INC.,

                      as
      Agent

                    
	 	 
	 	 
	 	
                      By:
      /s/ Scott
      Bluestein

                    
	 	
                      Name:
      Scott Bluestein

                    
	 	
                      Title:
      Authorized
      Signatory

                    
	 	 
	 	
                      VALENS
      U.S. SPV I, LLC

                    
	 	 
	 	
                      By: Valens
      Capital Management, LLC, its investment
    manager

                    
	 	 
	 	
                      By:
      /s/ Scott
      Bluestein

                    
	 	
                      Name:
      Scott Bluestein

                    
	 	
                      Title:
      Authorized Signatory

                    
	 	 
      
	 	
                      VALENS
      OFFSHORE SPV I, LTD.

                    
	 	 
	 	
                      
                        By:
      Valens Capital Management, LLC, its investment
      manager

                      

                    
	 	 
	 	
                      By:
      /s/ Scott
      Bluestein

                    
	 	
                      Name:
      Scott Bluestein

                    
	 	
                      Title:
      Authorized Signatory

                    
	 	 
      
	 	
                      PSOURCE
      STRUCTURED DEBT LIMITED

                    
	 	 
	 	
                      
                        By:
      PSource Capital Limited, its investment
      consultant

                      

                    
	 	 
	 	      
                      By:
      /s/ Soondra
      Appavoo

                    
	 	      
                      Name:
      Soondra Appavoo

                    
	 	      
                      Title:
      Managing Director

                    
	 	 
	 	
                      By: 
      /s/ Scott
      Bluestein

                    
	 	
                      Name:
      Scott Bluestein

                    
	 	
                      Title:
      Authorized
Signatory

                    

            

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	
              CALLIOPE
      CAPITAL CORPORATION

            
	 	 
	 	 
	 	
              
                By: Laurus
      Capital Management, LLC, its investment
      manager

              

            
	 	 
	 	
              By: 
      /s/ Scott
      Bluestein

            
	 	
              Name:
      Scott Bluestein

            
	 	
              Title:
      Authorized
      Signatory

            

       

    

    CONSENTED
AND AGREED TO THIS 15TH DAY OF APRIL, 2009:

     

    PROLINK
HOLDINGS CORP.

     

    
      	
              By: 
      /s/ Lawrence D.
      Bain

            

    

    
      	
               
      

            	
              Name:
      Lawrence D. Bain

            

    

    
      	
               
      

            	
              Title:
      Chief Executive Officer

            

    

     

    PROLINK
SOLUTIONS, LLC

     

    
      	
              By: 
      /s/ Lawrence D.
      Bain

            

    

    
      	
               
      

            	
              Name:
      Lawrence D. Bain

            

    

    
      	
               
      

            	
              Title: Chief
      Executive Officer 

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ACKNOWLEGEMENT OF
SUBORDINATED LENDER

     

    Pursuant
to the terms of the Subordination Agreement (the “Subordination Agreement”)
dated as of March 31, 2008 among Valens U.S., Valens Offshore, Calliope and the
undersigned, the undersigned agreed, among other things, that the Junior
Liabilities are expressly subordinate and junior in right of payment to all
Senior Liabilities.  Capitalized terms not otherwise defined herein
shall have the meanings set forth in the Subordination Agreement.

     

    In
connection with the Companies and the Senior Lender entering into a Forbearance
Agreement and Omnibus Amendment to Agreements dated as of the date hereof (the
“Amendment”), the undersigned hereby: (a) confirms that (i) all indebtedness of
the Companies to the Senior Lenders including, without limitation, indebtedness
incurred in connection with the Amendment and any additional indebtedness
incurred after the date hereof shall constitute Senior Liabilities and (ii) all
indebtedness of the Companies to the undersigned including, without limitation,
indebtedness incurred after the date hereof, shall constitute Junior Liabilities
and (b) ratifies and confirms that all of the terms and conditions,
representations and covenants contained in the Subordination Agreement,
including without limitation, the prohibition on the undersigned’s right to
receive payment on the Junior Liabilities unless such payment is made in
accordance with the terms of the Subordination Agreement, shall remain in full
force and effect after giving effect to the execution and effectiveness of the
Amendment.

     

    
      	 	
              PSOURCE
      STRUCTURED DEBT LIMITED

            
	 	 
	 	
              
                By:
      PSource Capital Limited, its investment
      consultant

              

            
	 	 
	 	
                    
                By:
      /s/ Soondra
      Appavoo

              

            
	 	
              Name:
      Soondra
      Appavoo

            
	 	
              Title:
      Managing
      Director

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Exhibit
A

    

    Designated
Defaults

    

    Events of
Default have occurred under the Financing Agreements as a result of the
following events or circumstances:

    

    1.  The
outstanding principal amount of the Overadvance (as defined in the Overadvance
Letter) exceeds the Formula Amount by an amount greater than the Maximum
Overadvance Amount (as defined in the Overadvance Letter) which amount was not
repaid when due;

    

    2.  The
Overadvance (together with accrued interest and fees in respect thereof) was not
repaid in full on the Overadvance Maturity Date as required pursuant to the
Overadvance Letter; and

    

    3.  The
Obligations in respect of the Secured Term Note were not repaid in full when due
pursuant to the terms of the Secured Term Note.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
B

    

    Budget

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