Document:

Unassociated Document

     

    Exhibit 4.2

     

     

    "NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE
SECURITIES ARE [CONVERTIBLE –OR-EXERCISABLE] HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE
SECURITIES
LAWS.  THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION
OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR
(II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE
SECURITIES."

    

    
      
        
          	 
      	
                  Right
      to Purchase 625,000 shares of Common Stock of Conspiracy Entertainment
      Holdings, Inc. (subject to adjustment as provided
  herein)

                

        

      

    

    

    CLASS
A COMMON STOCK PURCHASE WARRANT

    

    
      
        
          
            	
                    No.
      February 2011- 2010-A-002

                  	
                    Issue
      Date: February ___,
2011

                  

          

        

      

    

    

    CONSPIRACY
ENTERTAINMENT HOLDINGS, INC., a corporation organized under the laws of the
State of Utah (the “Company”), hereby certifies that, for value received, DPIT 2
LLC, 8 Hop Brook Lane Holmdel New Jersey 07733, or its assigns (the “Holder”),
is entitled, subject to the terms set forth below, to purchase from the Company
at any time after the Issue Date until 5:00 p.m., E.S.T on the fifth anniversary
of the Issue Date (the “Expiration Date”), up to 626,000fully paid and
nonassessable shares of Common Stock at a per share purchase price of
$0.02.  The aforedescribed purchase price per share, as adjusted from
time to time as herein provided, is referred to herein as the “Purchase
Price."  The number and character of such shares of Common Stock and
the Purchase Price are subject to adjustment as provided herein.  The
Company may reduce the Purchase Price for some or all of the Warrants,
temporarily or permanently, provided such reduction is made as to all
outstanding Warrants for all Holders of such Warrants.  Capitalized
terms used and not otherwise defined herein shall have the meanings set forth in
that certain Subscription Agreement (the “Subscription Agreement”), dated as of
February  __, 2011  entered into by the Company and the
Holder.

    

    As used
herein the following terms, unless the context otherwise requires, have the
following respective meanings:

     

    (a)           The
term “Company” shall mean Conspiracy Entertainment Holdings, Inc., a Utah
corporation, and any corporation which shall succeed or assume the obligations
of Conspiracy Entertainment Holdings, Inc. hereunder.

     

    (b)           The
term “Common Stock” includes (i) the Company's Common Stock, $0.001 par
value per share, as authorized on the date of the Subscription Agreement, and
(ii) any other securities into which or for which any of the securities
described in (i) may be converted or exchanged pursuant to a plan of
recapitalization, reorganization, merger, sale of assets or
otherwise.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (c)           The
term “Other Securities” refers to any stock (other than Common Stock) and other
securities of the Company or any other person (corporate or otherwise) which the
holder of the Warrant at any time shall be entitled to receive, or shall have
received, on the exercise of the Warrant, in lieu of or in addition to Common
Stock, or which at any time shall be issuable or shall have been issued in
exchange for or in replacement of Common Stock or Other Securities pursuant to
Section 4 herein or otherwise.

     

    (d)         The
term “Warrant Shares” shall mean the Common Stock issuable upon exercise of this
Warrant.

     

    1.           Exercise of
Warrant.

     

    1.1.           Number of Shares Issuable
upon Exercise.  From and after the Issue Date through and
including the Expiration Date, the Holder hereof shall be entitled to receive,
upon exercise of this Warrant in whole in accordance with the terms of
subsection 1.2 or upon exercise of this Warrant in part in accordance with
subsection 1.3, shares of Common Stock of the Company, subject to
adjustment pursuant to Section 4.

     

    1.2.           Full
Exercise.  This Warrant may be exercised in full by the Holder
hereof by delivery of an original or facsimile copy of the form of subscription
attached as Exhibit A hereto (the “Subscription Form”) duly executed by
such Holder and delivery within two days thereafter of payment, in cash, wire
transfer or by certified or official bank check payable to the order of the
Company, in the amount obtained by multiplying the number of shares of Common
Stock for which this Warrant is then exercisable by the Purchase Price then in
effect.  The original Warrant is not required to be surrendered to the
Company until it has been fully exercised.

     

    1.3.           Partial
Exercise.  This Warrant may be exercised in part (but not for a
fractional share) by delivery of a Subscription Form in the manner and at the
place provided in subsection 1.2 except that the amount payable by the
Holder on such partial exercise shall be the amount obtained by multiplying
(a) the number of whole shares of Common Stock designated by the Holder in
the Subscription Form by (b) the Purchase Price then in
effect.  On any such partial exercise provided the Holder has
surrendered the original Warrant, the Company, at its expense, will forthwith
issue and deliver to or upon the order of the Holder hereof a new Warrant
of like tenor, in the name of the Holder hereof or as such Holder (upon payment
by such Holder of any applicable transfer taxes) may request, the whole number
of shares of Common Stock for which such Warrant may still be
exercised.

     

    1.4.           Fair Market Value.
Fair Market Value of a share of Common Stock as of a particular date (the
“Determination Date”) shall mean:

     

    (a)           If
the Company's Common Stock is traded on an exchange or is quoted on the NASDAQ
Global Market, NASDAQ Global Select Market, the NASDAQ Capital Market, the New
York Stock Exchange or the NYSE Amex, LLC, then the average of the closing sale
prices of the Common Stock for the five (5) Trading Days immediately prior to
(but not including) the Determination Date;

     

    (b)           If
the Company's Common Stock is not traded on an exchange or on the NASDAQ Global
Market, NASDAQ Global Select Market, the NASDAQ Capital Market, the New York
Stock Exchange or the NYSE Amex, but is traded on the OTC Bulletin Board or in
the over-the-counter market or Pink Sheets, then the average of the closing bid
and ask prices reported for the five (5) Trading Days immediately prior to (but
not including) the Determination Date;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (c)           Except
as provided in clause (d) below and Section 3.1, if the Company's Common
Stock is not publicly traded, then as the Holder and the Company agree, or in
the absence of such an agreement, by arbitration in accordance with the rules
then standing of the American Arbitration Association, before a single
arbitrator to be chosen from a panel of persons qualified by education and
training to pass on the matter to be decided; or

     

    (d)           If
the Determination Date is the date of a liquidation, dissolution or winding up,
or any event deemed to be a liquidation, dissolution or winding up pursuant to
the Company's charter, then all amounts to be payable per share to holders of
the Common Stock pursuant to the charter in the event of such liquidation,
dissolution or winding up, plus all other amounts to be payable per share in
respect of the Common Stock in liquidation under the charter, assuming for the
purposes of this clause (d) that all of the shares of Common Stock then
issuable upon exercise of all of the Warrants are outstanding at the
Determination Date.

     

    1.5.           Company
Acknowledgment. The Company will, at the time of the exercise of the
Warrant, upon the request of the Holder hereof, acknowledge in writing its
continuing obligation to afford to such Holder any rights to which such Holder
shall continue to be entitled after such exercise in accordance with the
provisions of this Warrant. If the Holder shall fail to make any such request,
such failure shall not affect the continuing obligation of the Company to afford
to such Holder any such rights.

     

    1.6.           Delivery of Stock Certificates, etc. on
Exercise. The Company agrees that, provided the full purchase price
listed in the Subscription Form is received as specified in Section 1.2, the
shares of Common Stock purchased upon exercise of this Warrant shall be deemed
to be issued to the Holder hereof as the record owner of such shares as of the
close of business on the date on which delivery of a Subscription Form shall
have occurred and payment made for such shares as aforesaid. As soon as
practicable after the exercise of this Warrant in full or in part, and in
any event within three (3) business days thereafter (“Warrant Share Delivery
Date”), the Company at its expense (including the payment by it of any
applicable issue taxes) will cause to be issued in the name of and delivered to
the Holder hereof, or as such Holder (upon payment by such Holder of any
applicable transfer taxes) may direct in compliance with applicable securities
laws, a certificate or certificates for the number of duly and validly issued,
fully paid and non-assessable shares of Common Stock (or Other Securities) to
which such Holder shall be entitled on such exercise, plus, in lieu of any
fractional share to which such Holder would otherwise be entitled, cash equal to
such fraction multiplied by the then Fair Market Value of one full share of
Common Stock, together with any other stock or other securities and property
(including cash, where applicable) to which such Holder is entitled upon such
exercise pursuant to Section 1 or otherwise.  The Company
understands that a delay in the delivery of the Warrant Shares after the Warrant
Share Delivery Date could result in economic loss to the Holder.  As
compensation to the Holder for such loss, the Company agrees to pay (as
liquidated damages and not as a penalty) to the Holder for late issuance of
Warrant Shares upon exercise of this Warrant the proportionate amount of $100
per business day after the Warrant Share Delivery Date for each $10,000 of
Purchase Price of Warrant Shares for which this Warrant is exercised which are
not timely delivered.  The Company shall pay any payments incurred
under this Section in immediately available funds upon
demand.  Furthermore, in addition to any other remedies which may be
available to the Holder, in the event that the Company fails for any reason to
effect delivery of the Warrant Shares by the Warrant Share Delivery Date, the
Holder may revoke all or part of the relevant Warrant exercise by delivery of a
notice to such effect to the Company, whereupon the Company and the Holder
shall each be restored to their respective positions immediately prior to the
exercise of the relevant portion of this Warrant, except that the liquidated
damages described above shall be payable through the date notice of revocation
or rescission is given to the Company.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.7.           Buy-In.  In
addition to any other rights available to the Holder, if the Company fails to
deliver to a Holder the Warrant Shares as required pursuant to this Warrant,
within seven (7) business days after the Warrant Share Delivery Date and the
Holder or a broker on the Holder’s behalf, purchases (in an open market
transaction or otherwise) shares of common stock to deliver in satisfaction of a
sale by such Holder of the Warrant Shares which the Holder was entitled to
receive from the Company (a “Buy-In”), then the Company shall pay in cash to the
Holder (in addition to any remedies available to or elected by the Holder) the
amount by which (A) the Holder's total purchase price (including brokerage
commissions, if any) for the shares of common stock so purchased exceeds (B) the
aggregate Purchase Price of the Warrant Shares required to have been delivered
together with interest thereon at a rate of 15% per annum, accruing until such
amount and any accrued interest thereon is paid in full (which amount shall be
paid as liquidated damages and not as a penalty).  For example, if a
Holder purchases shares of Common Stock having a total purchase price of $11,000
to cover a Buy-In with respect to $10,000 of Purchase Price of Warrant Shares to
have been received upon exercise of this Warrant, the Company shall be required
to pay the Holder $1,000, plus interest. The Holder shall provide the Company
written notice indicating the amounts payable to the Holder in respect of the
Buy-In.

     

    2.           Cashless
Exercise.

     

    (a)           Payment
upon exercise may be made at the option of the Holder either in (i) cash,
wire transfer or by certified or official bank check payable to the order of the
Company equal to the applicable aggregate Purchase Price, (ii) by delivery of
Common Stock issuable upon exercise of the Warrants in accordance with
Section (b) below or (iii) by a combination of any of the
foregoing methods, for the number of Common Stock specified in such form (as
such exercise number shall be adjusted to reflect any adjustment in the total
number of shares of Common Stock issuable to the holder per the terms of this
Warrant) and the holder shall thereupon be entitled to receive the number of
duly authorized, validly issued, fully-paid and non-assessable shares of Common
Stock (or Other Securities) determined as provided herein.

     

    (b)           Subject
to the provisions herein to the contrary, if the Fair Market Value of one share
of Common Stock is greater than the Purchase Price (at the date of calculation
as set forth below), in lieu of exercising this Warrant for cash, the holder may
elect to receive shares equal to the value (as determined below) of this Warrant
(or the portion thereof being cancelled) by delivery of a properly endorsed
Subscription Form delivered to the Company by any means described in Section 13,
in which event the Company shall issue to the holder a number of shares of
Common Stock computed using the following formula:

     

    X=Y (A-B)

              A

    
      

      
        
          Where X=        
the
number of shares of Common Stock to be issued to the
holder

        

      

       

    

    
      	
               
      

            	
              Y=

            	
              the
      number of shares of Common Stock purchasable under the Warrant or, if only
      a portion of the Warrant is being exercised, the portion of the Warrant
      being exercised (at the date of such
  calculation)

            

    

     

    
      	
               
      

            	
              A=

            	
              Fair
      Market Value

            

    

     

    
      	
               
      

            	
              B=

            	
              Purchase
      Price (as adjusted to the date of such
  calculation)

            

    

     

    For
purposes of Rule 144 promulgated under the 1933 Act, it is intended, understood
and acknowledged that the Warrant Shares issued in a cashless exercise
transaction in the manner described above 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 pursuant to the
Subscription Agreement.Notwithstanding anything herein to the contrary, on
the Expiration Date, this Warrant shall be automatically exercised via
cashless exercise pursuant to this Section 2(b) to the extent permitted under
Section 10.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    3.           Adjustment for
Reorganization, Consolidation, Merger, etc.

     

    3.1.           Fundamental Transaction. 
If, at any time while this Warrant is outstanding, (A) the
Company effects any merger or  consolidation  of the Company with
or into another entity, (B) the Company effects any sale of all or
substantially all of its assets in one or
a series of related transactions,  (C)
any tender offer or exchange offer (whether by the
Company or another entity) is completed pursuant to which holders of Common
Stock are permitted to tender or exchange their
shares for other securities, cash or property, (D) the Company
consummates a stock purchase agreement or other business combination (including,
without limitation, a reorganization, recapitalization, or spin-off) with one or
more persons or entities whereby such other persons or entities acquire more
than the 50% of the outstanding shares of Common Stock (not including any shares
of Common Stock held by such other persons or entities making or party to, or
associated or affiliated with the other persons or entities making or party to,
such stock purchase agreement or other business combination), (E) any "person"
or "group" (as these terms are used for purposes of Sections 13(d) and 14(d) of
the 1934 Act) is or shall become the "beneficial owner" (as defined in Rule
13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate
Common Stock of the Company, or (F) 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, upon
any subsequent exercise of this Warrant, the Holder shall have the
right to receive, for each Warrant Share that would have been issuable upon such
exercise immediately prior to the occurrence of such
Fundamental Transaction, at the option of the Holder, (a) upon
exercise of this Warrant, the number of shares of Common Stock of the
successor or acquiring corporation or of the Company, if it is the
surviving corporation, and any additional consideration (the
“Alternate Consideration”) receivable upon or as a result of
such reorganization, reclassification, merger,
consolidation or disposition of assets by a Holder of the
number of shares of Common Stock for which this Warrant is exercisable
immediately prior to such event or (b) if the Company is
acquired in (1) a transaction where the consideration paid to the holders
of the Common Stock consists solely of cash, (2) a “Rule 13e-3 transaction” as
defined in Rule 13e-3 under the 1934 Act, or (3) a transaction involving a
person or entity not traded on a national securities exchange, the Nasdaq Global
Select Market, the Nasdaq Global Market or the Nasdaq Capital
Market, cash equal to the Black-Scholes Value. 
For purposes of any such exercise, the determination of the
Purchase 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 Purchase 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.  To the extent necessary to
effectuate the foregoing provisions, any successor to the Company or
surviving entity in such Fundamental Transaction shall issue to the Holder a
new warrant consistent with
the foregoing provisions and evidencing the
Holder's right to exercise such warrant into Alternate
Consideration.  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 Section 3.1 and insuring that this Warrant (or any such
replacement security) will be similarly adjusted upon any subsequent transaction
analogous to a Fundamental Transaction.  “Black-Scholes
Value” shall be determined in accordance with the Black-Scholes Option Pricing
Model obtained from the “OV” function on Bloomberg L.P. using (i) a price per
share of Common Stock equal to the VWAP of the Common Stock for the Trading Day
immediately preceding the date of consummation of the applicable Fundamental
Transaction, (ii) a risk-free interest rate corresponding to the U.S. Treasury
rate for a period equal to the remaining term of this Warrant as of the date of
such request and (iii) an expected volatility equal to the 100 day volatility
obtained from the HVT function on Bloomberg L.P. determined as of the Trading
Day immediately following the public announcement of the applicable Fundamental
Transaction.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    3.2.           Continuation of
Terms.  Upon any reorganization, consolidation, merger or
transfer (and any dissolution following any transfer) referred to in this
Section 3, this Warrant shall continue in full force and effect and the
terms hereof shall be applicable to the Other Securities and property receivable
on the exercise of this Warrant after the consummation of such reorganization,
consolidation or merger or the effective date of dissolution following any such
transfer, as the case may be, and shall be binding upon the issuer of any Other
Securities, including, in the case of any such transfer, the person acquiring
all or substantially all of the properties or assets of the Company, whether or
not such person shall have expressly assumed the terms of this Warrant as
provided in Section 4.  In the event this Warrant does not
continue in full force and effect after the consummation of the transaction
described in this Section 3, then only in such event will the Company's
securities and property (including cash, where applicable) receivable by the
Holder of the Warrants be delivered to the Trustee as contemplated by
Section 3.2.

     

    3.3           Share
Issuance.  Until the Expiration Date, if the Company shall
issue any Common Stock except for the Excepted Issuances (as defined in the
Subscription Agreement), prior to the complete exercise of this Warrant for a
consideration less than the Purchase Price that would be in effect at the time
of such issuance, then, and thereafter successively upon each such issuance, the
Purchase Price shall be reduced to such other lower price for then outstanding
Warrants.  For purposes of this adjustment, the issuance of any
security or debt instrument of the Company carrying the right to convert such
security or debt instrument into Common Stock or of any warrant, right or option
to purchase Common Stock shall result in an adjustment to the Purchase Price
upon the issuance of the above-described security, debt instrument, warrant,
right, or option if such issuance is at a price lower than the Purchase Price in
effect upon such issuance and again at any time upon any subsequent issuances of
shares of Common Stock upon exercise of such conversion or purchase rights
if such issuance is at a price lower than the Purchase Price in effect upon such
issuance.  Common Stock issued or issuable by the Company for no
consideration will be deemed issuable or to have been issued for $0.001 per
share of Common Stock.  Upon any reduction of the Purchase Price, the
number of shares of Common Stock that the Holder of this Warrant shall
thereafter, on the exercise hereof, be entitled to receive shall be adjustedto a
number determined by multiplying the number of shares of Common Stock that would
otherwise (but for the provisions of this Section 3.3) be issuable on such
exercise by a fraction of which (a) the numerator is the Purchase Price that
would otherwise (but for the provisions of this Section 3.3) be in effect, and
(b) the denominator is the Purchase Price in effect on the date of such
exercise.

     

    4.           Extraordinary Events
Regarding Common Stock.  In the event that the Company shall
(a) issue additional shares of the Common Stock as a dividend or other
distribution on outstanding Common Stock, (b) subdivide its outstanding
shares of Common Stock, or (c) combine its outstanding shares of the Common
Stock into a smaller number of shares of the Common Stock, then, in each such
event, the Purchase Price shall, simultaneously with the happening of such
event, be adjusted by multiplying the then Purchase Price by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding
immediately prior to such event and the denominator of which shall be the number
of shares of Common Stock outstanding immediately after such event, and the
product so obtained shall thereafter be the Purchase Price then in effect. The
Purchase Price, as so adjusted, shall be readjusted in the same manner upon the
happening of any successive event or events described herein in this
Section 4. The number of shares of Common Stock that the Holder of this
Warrant shall thereafter, on the exercise hereof, be entitled to receive shall
be adjusted to a number determined by multiplying the number of shares of Common
Stock that would otherwise (but for the provisions of this Section 4) be
issuable on such exercise by a fraction of which (a) the numerator is the
Purchase Price that would otherwise (but for the provisions of this Section 4)
be in effect, and (b) the denominator is the Purchase Price in effect on the
date of such exercise.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.           Certificate as to
Adjustments.  In each case of any adjustment or readjustment in
the shares of Common Stock (or Other Securities) issuable on the exercise of the
Warrants, the Company at its expense will promptly cause its Chief Financial
Officer or other appropriate designee to compute such adjustment or readjustment
in accordance with the terms of the Warrant and prepare a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which
such adjustment or readjustment is based, including a statement of (a) the
consideration received or receivable by the Company for any additional shares of
Common Stock (or Other Securities) issued or sold or deemed to have been issued
or sold, (b) the number of shares of Common Stock (or Other Securities)
outstanding or deemed to be outstanding, and (c) the Purchase Price and the
number of shares of Common Stock to be received upon exercise of this Warrant,
in effect immediately prior to such adjustment or readjustment and as adjusted
or readjusted as provided in this Warrant. The Company will forthwith mail a
copy of each such certificate to the Holder of the Warrant and any Warrant Agent
of the Company (appointed pursuant to Section 11 hereof).

     

    6.           Reservation of Stock, etc.
Issuable on Exercise of Warrant; Financial Statements.Subject to the
filing of the Amendment, the Company will at all times reserve and keep
available, solely for issuance and delivery on the exercise of the Warrants, all
shares of Common Stock (or Other Securities) from time to time issuable on the
exercise of the Warrant.  This Warrant entitles the Holder hereof,
upon written request, to receive copies of all financial and other information
distributed or required to be distributed to the holders of the Company's Common
Stock.

     

    7.           Assignment; Exchange of
Warrant.  Subject to compliance with applicable securities
laws, this Warrant, and the rights evidenced hereby, may be transferred by any
registered holder hereof (a “Transferor”). On the surrender for exchange of this
Warrant, with the Transferor's endorsement in the form of Exhibit B
attached hereto (the “Transferor Endorsement Form”) and together with an opinion
of counsel reasonably satisfactory to the Company that the transfer of this
Warrant will be in compliance with applicable securities laws, the Company will
issue and deliver to or on the order of the Transferor thereof a new Warrant or
Warrants of like tenor, in the name of the Transferor and/or the transferee(s)
specified in such Transferor Endorsement Form (each a “Transferee”), calling in
the aggregate on the face or faces thereof for the number of shares of Common
Stock called for on the face or faces of the Warrant so surrendered by the
Transferor.

     

    8.           Replacement of
Warrant.  On receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant and, in
the case of any such loss, theft or destruction of this Warrant, on delivery of
an indemnity agreement or security reasonably satisfactory in form and amount to
the Company or, in the case of any such mutilation, on surrender and
cancellation of this Warrant, the Company at its expense, twice only, will
execute and deliver, in lieu thereof, a new Warrant of like tenor.

     

    9.           Registration
Rights.  The Holder of this Warrant has been granted certain
piggy-back registration rights by the Company.  These registration
rights are set forth in the Subscription Agreement.  The terms of the
Subscription Agreement are incorporated herein by this
reference.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    10.           Maximum
Exercise.  The Holder shall not be entitled to exercise this
Warrant on an exercise date,in connection with that number of shares of Common
Stock which would be in excess of the sum of (i) the number of shares of
Common Stock beneficially owned by the Holder and its affiliates on an exercise
date, and (ii) the number of shares of Common Stock issuable upon the
exercise of this Warrant with respect to which the determination of this
limitation is being made on an exercise date, which would result in beneficial
ownership by the Holder and its affiliates of more than 4.99% of the outstanding
shares of Common Stock on such date.  For the purposes of the
immediately preceding sentence, beneficial ownership shall be determined in
accordance with Section 13(d) of the 1934 Act and Rule 13d-3
thereunder.  Subject to the foregoing, the Holder shall not be limited
to aggregate exercises which would result in the issuance of more than
4.99%.  The restriction described in this paragraph may be
waived, in whole or in part, upon sixty-one (61) days prior notice from the
Holder to the Company to increase such percentage to up to 9.99%, but not in
excess of 9.99%.  The Holder may decide whether to convert a
Convertible Note or exercise this Warrant to achieve an actual 4.99% or up to
9.99% ownership position as described above, but not in excess of
9.99%.

     

    11.           Warrant
Agent.  The Company may, by written notice to the Holder of the
Warrant, appoint an agent (a “Warrant Agent”) for the purpose of issuing Common
Stock (or Other Securities) on the exercise of this Warrant pursuant to
Section 1, exchanging this Warrant pursuant to Section 7, and
replacing this Warrant pursuant to Section 8, or any of the foregoing, and
thereafter any such issuance, exchange or replacement, as the case may be, shall
be made at such office by such Warrant Agent.

     

    12.           Transfer on the Company's
Books.  Until this Warrant is transferred on the books of the
Company, the Company may treat the registered holder hereof as the absolute
owner hereof for all purposes, notwithstanding any notice to the
contrary.

     

    13.           Notices.   All
notices, demands, requests, consents, approvals, and other communications
required or permitted hereunder shall be in writing and, unless otherwise
specified herein, shall be (i) personally served, (ii) deposited in the mail,
registered or certified, return receipt requested, postage prepaid, (iii)
delivered by reputable air courier service with charges prepaid, or (iv)
transmitted by hand delivery, telegram, or facsimile, addressed as set forth
below or to such other address as such party shall have specified most recently
by written notice.  Any notice or other communication required or
permitted to be given hereunder shall be deemed effective (a) upon hand delivery
or delivery by facsimile, with accurate confirmation generated by the
transmitting facsimile machine, at the address or number designated below (if
delivered on a business day during normal business hours where such notice is to
be received), or the first business day following such delivery (if delivered
other than on a business day during normal business hours where such notice is
to be received) or (b) on the second business day following the date of mailing
by express courier service, fully prepaid, addressed to such address, or upon
actual receipt of such mailing, whichever shall first occur.  The
addresses for such communications shall be:  if to the Company, to:
Conspiracy Entertainment Holdings, Inc., 612 Santa Monica Boulevard, Santa
Monica, CA 90401, Attn: Keith Tanaka, CFO, facsimile: (310) 260-1450, with a
copy by facsimile only to: Sichenzia Ross Friedman Ference LLP, 61 Broadway,
32nd
Floor, New York, NY 10006, Attn: Marc J. Ross, Esq., facsimile: (212) 930-9725,
and (ii) if to the Holder, to the address and facsimile number listed on the
first paragraph of this Warrant, with a copy by facsimile only
to:Grushko&Mittman, P.C., 515 Rockaway Avenue, Valley Stream, New York
11581, facsimile: (212) 697-3575.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    14.           Law Governing This
Warrant.  This Warrant shall be governed by and construed in
accordance with the laws of the State of New York without regard to principles
of conflicts of laws.  Any action brought by either party against the
other concerning the transactions contemplated by this Warrant shall be brought
only in the state courts of New York or in the federal courts located in the
state and county of New York.  The parties to this Warrant hereby
irrevocably waive any objection to jurisdiction and venue of any action
instituted hereunder and shall not assert any defense based on lack of
jurisdiction or venue or based upon forum non
conveniens.  The Company and Holder waive trial by
jury.  The prevailing party shall be entitled to recover from the
other party its reasonable attorney's fees and costs.  In the event
that any provision of this Warrant or any other agreement delivered in
connection herewith is invalid or unenforceable under any applicable statute or
rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such
statute or rule of law.  Any such provision which may prove invalid or
unenforceable under any law shall not affect the validity or enforceability of
any other provision of any agreement.   Each party hereby
irrevocably waives personal service of process and consents to process being
served in any suit, action or proceeding in connection with this Agreement or
any other Transaction Document 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 Agreement 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 other manner permitted by law.

     

    [THIS
SPACE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the Company has executed this Warrant as of the date first
written above.

     

    
      
        
          
            	CONSPIRACY
      ENTERTAINMENT HOLDINGS, INC.
	 
      	 
      
	
                    By:

                  	
                        

                  
	 
      	
                    Name:

                  
	 
      	
                    Title

                  

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit A

    

    FORM OF
SUBSCRIPTION

    (to be
signed only on exercise of Warrant)

     

    TO:  CONSPIRACY
ENTERTAINMENT HOLDINGS, INC.

    The
undersigned, pursuant to the provisions set forth in the attached Warrant
(No.____), hereby irrevocably elects to purchase (check applicable
box):

    

    ___           ________
shares of the Common Stock covered by such Warrant; or

     

    ___           the
maximum number of shares of Common Stock covered by such Warrant pursuant to the
cashless exercise procedure set forth in Section 2.

    

    The
undersigned herewith makes payment of the full purchase price for such shares at
the price per share provided for in such Warrant, which is
$___________.  Such payment takes the form of (check applicable box or
boxes):

    

    ___           $__________
in lawful money of the United States; and/or

     

    ___           the
cancellation of such portion of the attached Warrant as is exercisable for a
total of _______ shares of Common Stock (using a Fair Market Value of $_______
per share for purposes of this calculation); and/or

    

    ___           the
cancellation of such number of shares of Common Stock as is necessary, in
accordance with the formula set forth in Section 2, to exercise this
Warrant with respect to the maximum number of shares of Common Stock purchasable
pursuant to the cashless exercise procedure set forth in
Section 2.

    

    The
undersigned requests that the certificates for such shares be issued in the name
of, and delivered to ______________________________________________________________________________         
whose address is _______________________________________________________________________________________________________

    __________________________________________________________________________.

    

    The
undersigned represents and warrants that all offers and sales by the undersigned
of the securities issuable upon exercise of the within Warrant shall be made
pursuant to registration of the Common Stock under the Securities Act of 1933,
as amended (the “Securities Act”), or pursuant to an exemption from registration
under the Securities Act.

    

    
      
        
          
            
              	
                      Dated:___________________

                    	 
        
	 
      	
                      (Signature
      must conform to name of holder as specified on the face of the
      Warrant)

                    
	 
      	 
      
	 
      	 
        
	 
      	 
        
	 
      	
                      (Address)

                    

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit B

    

    FORM OF
TRANSFEROR ENDORSEMENT

    (To be
signed only on transfer of Warrant)

         

    For value
received, the undersigned hereby sells, assigns, and transfers unto the
person(s) named below under the heading "Transferees" the right represented by
the within Warrant to purchase the percentage and number of shares of Common
Stock of CONSPIRACY ENTERTAINMENT HOLDINGS, INC. to which the within Warrant
relates specified under the headings "Percentage Transferred" and "Number
Transferred," respectively, opposite the name(s) of such person(s) and appoints
each such person Attorney to transfer its respective right on the books of
CONSPIRACY ENTERTAINMENT HOLDINGS, INC. with full power of substitution in the
premises.

    

    
      
        
          
            
              	
                      Transferees

                    	 	
                      Percentage Transferred

                    	 	
                      Number Transferred

                    
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      

            

          

        

      

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    Dated:  ______________,
      ___________

                                  	 	 
        
	 
      	 	
                                    (Signature
      must conform to name of holder as specified on the face of the
      warrant)

                                  
	
                                    Signed
      in the presence of:

                                  	 	 
      
	 
      	 	 
        
	
                                    (Name)

                                  	 	 
        
	
                                     

                                  	 	
                                    (address)

                                  
	 
      	 	 
      
	
                                    ACCEPTED
      AND AGREED:

                                  	 	 
        
	
                                    [TRANSFEREE]

                                  	 	 
        
	 
      	 	
                                    (address)

                                  
	 
        	 	 
      
	
                                    (Name)HTML

      
         
            
                                                
               

                                                
               

               

               

               Exhibit 10.1

                                 RUDDICK CORPORATION                     
EXECUTIVE BONUS INSURANCE PLAN                  
               

                                 This Ruddick Corporation Executive Bonus Insurance Plan (the "Plan") is made and entered into as of the date set forth below
                  by Ruddick Corporation, a corporation organized and existing under
                  the laws of the State of North Carolina (the "Company"), such Plan to
                  be effective as of August 19, 2010.
               

                                 1.    Definitions:
               

                                 1.1                   Affiliate means any corporation or other form of entity of which the Company
                  owns, from time to time, directly or indirectly, 50% or more of the
                  total combined voting power of all classes of stock or other equity
                  interests.
               

                                 1.2                   Board or                   Board of Directors means the Board of Directors of the Company.
               

                                 1.3                   Bonus Payment means the total amount payable to or on behalf of a Participant for
                  a Plan Year under this Plan, as provided in paragraph 3.2 below.

               

                                 1.4                   Change of Control means a "change in ownership," a "change in effective control," or a
                  "change in the ownership of substantial assets" of the Company, as
                  described in Treasury Regulation Section 1.409A-3(i)(5).

               

                                 1.5                   Committee means the Administrative Committee of the Plan appointed by the
                  Board of Directors.
               

                                 1.6                   Company means Ruddick Corporation, and shall also include any successor of
                  Ruddick Corporation.
               

                                 1.7                   Disabled or                   Disability means disability as defined in the Ruddick Corporation Flexible
                  Deferral Plan.
               

                                 1.8                   Eligible Employee means an executive employee of the Company or an Affiliate who is
                  selected by the Committee to participate in the Plan.
               

                                 1.9                   Enrollment Materials means the insurance application and related forms required by the
                  insurance carrier in order to issue insurance to the Participant
                  under the Plan.
               

                                 1.10                   Participant means an Eligible Employee (a) who is designated by the Committee
                  and who enrolls in the Plan, both in accordance with paragraph 2.1
                  hereof, and (b) whose participation hereunder has not terminated in
                  accordance with Section 4 hereof.
               

                                 1.11                   Plan means the Ruddick Corporation Executive Bonus Insurance Plan as
                  contained herein and as it may be amended from time to time
                  hereafter.
               

                                 1.12                   Plan                  Year means the calendar year.
               

                                 1.13                   Retirement Date means the date on which a Participant attains age 65.
               

                                 1.14                   Target Death Benefit means the aggregate amount payable upon the death of a Participant
                  under the insurance policies funded through this Plan, which shall be
                  determined by the Committee, at its sole and absolute discretion, and
                  communicated to the Participant in writing upon the Participant's
                  commencement of participation in the Plan.
               

                                 2.    Initial Participation:
               

                                 2.1                   Commencement of Participation. Participation hereunder shall commence when (a) an Eligible Employee
                  is designated by the Committee, (b) such Eligible Employee completes
                  the Enrollment Materials and provides such additional information as
                  may be required by the Committee. If an Eligible Employee fails to
                  complete the Enrollment Materials during the 90-day period
                  immediately following the date(s) on which he or she is requested by
                  the Company to complete the Enrollment Materials (or such longer or
                  shorter period as the Committee may specify), he or she shall forfeit
                  participation in the Plan and shall again be eligible for
                  participation hereunder only if later designated by the Committee.

               

                                 2.2                   No Continued Employment. No Participant shall have any right to continue in the employ of the
                  Company or an Affiliate for any period of time or any right to
                  continue his or her present or any other rate of compensation on
                  account of participation hereunder.
               

            

         

         			

         			

         			

      

      
         
            
               

                                 3.    Insurance Policies, Target Death Benefit and Bonus:
               

                                 3.1                   Insurance Policies. Benefits hereunder shall be funded solely through one or more
                  policies of insurance acquired on the life of each Participant
                  hereunder. The type and amount of any death benefit shall be
                  determined solely in accordance with the terms of each separate
                  insurance policy acquired hereunder. Nothing contained herein shall
                  be deemed to guarantee the availability, amount or payment of any
                  death or other form of benefit or right from any such policy. Except
                  as may be expressly provided herein, determination of any right
                  under, benefit in or payment from any such policy shall be determined
                  solely in accordance with the terms and conditions thereof.

               

                                 3.2                   Bonus Payments. During the term of his or her participation hereunder, determined in
                  accordance with Section 4 hereof, the Company shall pay for the
                  benefit of each Participant all annual premiums due with respect to
                  each policy acquired hereunder, which the Company, in its discretion,
                  may elect to prorate and pay in such increments as it determines to
                  be necessary or appropriate. In addition, the Company shall make an
                  additional Bonus Payment to a Participant with respect to the
                  Participant's benefit hereunder for a Plan Year equal to the
                  additional tax liability for the Participant created by providing a
                  life insurance policy under this Plan. The determination of the tax
                  gross-up payment may be made by the Company upon delegation of such
                  duty by the Committee at its sole and absolute discretion and shall
                  be paid to the Participant in cash in lump sum no later than two and
                  one-half (2 1⁄2) months following the end of the Plan Year in which the
                  premium is paid on behalf of the Participant. The payment of a tax
                  gross-up to a Participant in one Plan Year does not entitle the
                  Participant to payment of a tax gross-up in any subsequent Plan Year.

               

                                 3.3                   Limitations on Exercise of Policy Exercise Rights. Each Participant shall be named as the owner of each policy with
                  respect to which he or she is named as the insured, and he or she
                  shall possess the unilateral right to exercise all incidents of
                  ownership with respect to each such policy, without the requirement
                  of notice or consent by the Company; provided, however, that prior to
                  the termination of participation hereunder, a Participant:

               

               
                  	 	 	 	 	 	 	 	 	 

                        	 	 	 	 	a.	 	 	Shall not possess the authority to pledge, assign, encumber, borrow
                              against, withdraw from or otherwise dispose of the cash value of any
                              policy acquired hereunder;
                           	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	b.	 	 	Shall be entitled to transfer ownership of any policy acquired
                              hereunder only to an irrevocable trust established for the benefit of
                              the Participant's immediate family members; and
                           	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	c.	 	 	Shall not exercise any other policy owner rights, other than the
                              right to designate and change beneficiaries, without the prior
                              written consent of the Company.
                           	 

               
               Each Participant will cooperate by signing any forms that may be
                  necessary to comply with the requirements of this Section 3.3.
                  Failure to do so will result in the Participant's loss of his or her
                  eligibility to participate in the Plan. Notwithstanding the above,
                  when a Participant ceases to be eligible under the Plan, the Company
                  will take reasonable steps to release restrictive endorsements
                  previously agreed to by the Participant.
               

                                 3.4                   Target Death Benefit. As of the date on which participation hereunder commences in
                  accordance with paragraph 2.1 hereof, the Committee shall determine
                  the Participant's Target Death Benefit. The Company shall procure an
                  insurance policy or policies in the amount of the Target Death
                  Benefit as soon as practicable (consistent with the anniversary dates
                  of other policies of insurance under the Plan) after participation
                  hereunder commences. During the term of a Participant's participation
                  under the Plan, the Committee shall review the amount of the Target
                  Death Benefit, the assumed dividend earning rate and other aspects of
                  the policies provided hereunder and make such changes as it deems
                  necessary or appropriate. If a Participant refuses to comply with
                  such changes to the Participant's policy(ies) as are desired by the
                  Committee, such Participant shall no longer be eligible to
                  participate in the Plan.
               

                                 3.5                   Other Benefits. Participation in this Plan shall not impair or otherwise reduce
                  Executive's rate of compensation or other benefits provided by the
                  Company or its Affiliates; provided, however, that the value of any
                  Bonus Payment made hereunder shall not be treated as compensation for
                  purposes of computing the value or amount of any such other benefit.

               

            

         

         
                           
2
            

         

         			

         			

         			

      

      
         
            
                                 4.    Term of Participation:
               

                                 4.1                   Term. Except as provided in this Section 4 or in paragraph 5.2 hereof, a
                  Participant's participation in the Plan shall commence as of the date
                  determined in accordance with the provisions of paragraph 2.1 hereof
                  and shall cease as of the earlier of the Participant's:
               

               a. Retirement Date; or

               b. Death; or

               c. Termination of employment with the Company and its Affiliates.

                                 4.2                   Change of Control. Notwithstanding the provisions of paragraph 4.1 hereof, if a
                  Participant's employment is terminated for any reason (except
                  termination for cause as determined in the sole discretion of the
                  Company) within the two (2) year period following the date of a
                  Change of Control, then the Company shall continue to provide the
                  Bonus Payment to the Participant, in an amount not less than the
                  Bonus Payment for the Plan Year preceding the Plan Year in which the
                  Change of Control occurs, until the Participant's Retirement Date.
                  Notwithstanding the above, in the event the Participant is a party to
                  a change in control agreement with the Company that provides for
                  continuation of benefits under the Plan, to the extent the benefits
                  under the Plan exceed those provided by such change in control
                  agreement, the obligation to continue Bonus Payments under the Plan
                  will be offset by the benefits provided under the change in control
                  agreement. If the benefits provided by such change in control
                  agreement exceed those provided under the Plan, then the Participant
                  shall receive no benefits under the Plan, but shall receive the
                  benefits instead under such change in control agreement. In no event
                  shall the Participant receive duplicative benefits under both the
                  Plan and such change in control agreement.
               

                                 4.3                   Disability. Notwithstanding the provisions of paragraph 4.1 hereof, if a
                  Participant hereunder becomes Disabled prior to his or her
                  termination of employment with the Company and its Affiliates,
                  participation hereunder shall continue until the earlier of (a) the
                  Participant's Retirement Date, or (b) the date such Participant
                  ceases to be Disabled.
               

                                 5.    General Provisions:
               

                                 5.1                   Taxes. The Company shall withhold from each Participant such federal, state
                  and local income and employment taxes as are required by law, and the
                  Participant shall be responsible for payment of all income and other
                  taxes associated with the benefits provided hereunder. The Company,
                  however, will provide the tax gross-up Bonus Payment as stated in
                  Section 3.2 above.
               

                                 5.2                   Amendment and Termination. Prior to the consummation of a Change of Control, the Committee
                  and/or the Board of Directors, as the case may be, shall possess the
                  authority to amend the terms of the Plan or any Enrollment Materials
                  or to terminate the Plan, in their sole and absolute discretion.
                  After the consummation of a Change of Control, this Plan shall not be
                  terminated, and no amendment hereunder shall materially impair the
                  rights and benefits of any Participant hereunder, without the prior
                  written consent of each such affected Participant.
               

                                 5.3                   Governing Law. This Plan and any agreement, form or ancillary document related
                  thereto shall be governed by the internal laws of the State of North
                  Carolina, without regard to the conflicts of law provisions thereof,
                  to the extent not governed by federal law.
               

                                 5.4                   Binding Effect. This Plan and any agreement related hereto shall be binding upon and
                  inure to the benefit of the Company, its successors and assigns and
                  to the benefit of each Participant, including his or her heirs,
                  successors and assigns. The Company shall require any of its
                  successors or assigns, whether by merger, asset sale or other form of
                  acquisition, to expressly assume and agree to perform its obligations
                  hereunder in the same manner and to the same extent that the Company
                  would be required to perform them if no succession or assignment had
                  taken place.
               

                                 5.5                   Entire Agreement. This Plan, including any agreement or form related thereto, sets
                  forth the entire agreement of the parties hereto with respect to the
                  subject matter contained herein and supersedes all prior agreements,
                  promises, covenants, arrangements, communications, representations or
                  warranties, whether oral or written, by any person.
               

                                 5.6                   Administration. The Committee shall have the discretionary power and authority to (a)
                  designate Participants hereunder, (b) direct the procurement and
                  issuance of insurance policies hereunder, (c) construe and interpret
                  the provisions of the Plan and any form or agreement related
                  thereto, (d) establish and adopt rules, regulations, and procedures
                  relating to the Plan and to interpret, apply and construe such rules,
                  regulations and procedures, (e) resolve disputes hereunder, and (f)
                  make any other determination which it believes necessary or advisable
                  for the proper administration of the Plan. Decisions, interpretations
                  and actions of the Committee concerning matters related to the Plan
                  shall be final and conclusive on the Company, its Affiliates and
                  Participants.
               

            

         

         
                           
3
            

         

         			

         			

         			

      

      
         
            
               The Committee shall be deemed to have delegated the following
                  ministerial or administrative duties to the appropriate officers of
                  the Company, to be exercised without the requirement of further
                  notice or consent: the preparation and issuance of documents
                  evidencing participation hereunder; the execution of such documents
                  as may be necessary to obtain, issue or maintain insurance policies
                  hereunder; determination of the tax gross-up payment; the review of
                  the Target Death Benefit amount and other aspects of the Plan in
                  accordance with paragraph 3.4 hereof and the procurement of
                  additional policies of insurance to the extent necessary or
                  appropriate. The Committee may further delegate such additional
                  ministerial or administrative duties as it deems necessary or
                  appropriate from time to time.
               

                                 5.7                   No Assignment Incident to Divorce. No right or benefit available under the Plan nor any right or
                  benefit under a policy of insurance acquired hereunder shall be
                  subject to assignment, transfer or division on account of a division
                  of community or marital property, whether on account of separation,
                  the dissolution of marriage or otherwise. Any such division,
                  assignment or transfer shall be void and of no effect.
               

                                 5.8                   Resolution of Disputes. Any controversy or claim arising out of or relating to the Plan
                  shall be settled by final, binding and non-appealable arbitration in
                  Charlotte, North Carolina, by three arbitrators. Subject to the
                  following provisions, the arbitration shall be conducted in
                  accordance with the rules of the American Arbitration Association
                  (the "Association") then in effect. One of the arbitrators shall be
                  appointed by the Company, one shall be appointed by the affected
                  Participant, and the third shall be appointed by the first two
                  arbitrators. If the first two arbitrators cannot agree on the third
                  arbitrator within 30 days of the appointment of the second
                  arbitrator, then the third arbitrator shall be appointed by the
                  Association. Any award entered by the arbitrators shall be final and
                  binding and judgment may be entered thereon by either party in
                  accordance with applicable law in any court of competent
                  jurisdiction. This arbitration provision shall be specifically
                  enforceable. If the Participant prevails on all claims that are the
                  subject of such arbitration, the Company shall be responsible for all
                  administrative fees of the Association and the compensation of the
                  arbitrators; otherwise, the parties shall equally share the
                  administrative fees of the Association and the compensation of the
                  arbitrators. Each party shall be responsible for its own attorneys'
                  fees and expenses relating to the conduct of the arbitration.

               

                                 5.9                   Cooperation; Insurability. Each Participant shall make application to one or more insurers
                  designated by the Committee or the Company, as the case may be, for
                  the issuance of one or more policies of insurance in such face
                  amounts as may be determined by the Company or the Committee, from
                  time to time. Each Participant shall furnish any information
                  requested by the Company or the Committee to facilitate the issuance
                  of such policies, take such physical examinations as the Company or
                  the Committee may deem necessary, and take such other actions as may
                  be requested by the Company, the Committee, or the insurer, as the
                  case may be. If a Participant refuses to cooperate, is uninsurable or
                  is insurable at rates or pursuant to an underwriting classification
                  not acceptable to the Company or the Committee, then notwithstanding
                  any provision of this Plan to the contrary, the Committee, in its
                  discretion, may determine that such Participant is ineligible to
                  participate hereunder.
               

                                 This Executive Bonus Insurance Plan is adopted by Ruddick Corporation on December 14, 2010.
               

               
                  	 	 	 	 	 	 	 	 	 

                        	 	 	 	 	 	 
	 	 	 	 	                              RUDDICK CORPORATION:
                           	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	/s/ John B. Woodlief	 	 	 	 
	 	 	 	 	John B. Woodlief, Vice President - Finance and Chief Financial Officer	 

               
            

         

         
                           
4

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