Document:

AGREEMENT

     

    THIS
      AGREEMENT (this “Agreement”)
      is
      made as of November 28, 2006 (the “Effective
      Date”),
      by
      and between PRO
      ELITE, INC.,
      a New
      Jersey corporation (“Pro
      Elite”),
      on
      the one hand, and RUMBLE
      WORLD ENTERTAINMENT, INC., a
      Hawaii
      corporation and its wholly owned subsidiary RUMBLE
      WORLD ENTERTAINMENT LLC,
      a
      Hawaii limited liability company (collectively, “RWE”),
      on
      the other hand. Pro Elite and RWE are referred to as the “Participants.”
      

     

    RECITALS

     

    
      	
              A.

            	
              RWE
                is the sole and exclusive owner of certain intellectual property
                set forth
                on Schedule A (the “Licensed
                Property”)
                and is willing to grant to Pro Elite the sole and exclusive right
                and
                license in the Licensed Property on the terms set forth herein.
                

            

    

     

    
      	
              B.

            	
              The
                business focus of Pro Elite is in Martial Events, and Pro Elite intends
                to
                produce live events in Martial Events including events using the
                Licensed
                Property.

            

    

     

    
      	
              C.

            	
              Pro
                Elite has or will form a wholly owned subsidiary (the “Subsidiary”)
                whose sole business will be to produce events in Martial Arts utilizing
                the Licensed Property (“Events”)
                which will be marketed under the brands Rumble World, RWE and/or
                Rumble
                World Entertainment and the services of certain RWE personnel as
                set forth
                herein.

            

    

     

    
      	
              D.

            	
              Pro
                Elite shall also be granted the right to distribute on an exclusive
                basis
                RWE’s existing content on all media subject to the terms set forth
                herein.

            

    

     

    In
      consideration of the foregoing recitals and the mutual promises hereinafter
      set
      forth, the sufficiency and adequacy of which consideration the Participants
      hereby acknowledge, the parties hereto, intending to be legally bound, agree
      as
      follows:

     

    AGREEMENT

     

    
      	1.	
              License.

            	
               

            

      	 	 	 

      	 	1.1 	For
              the consideration set forth in Section 2, RWE hereby grants to Pro
              Elite the sole and exclusive right and license (the “License”)
              to use the Licensed Property for any purpose, services or products
              anywhere in the world. Subject to the prior written approval of Jay
              Dee
              Penn, which approval shall not be unreasonably withheld or delayed,
              Pro
              Elite may grant sublicenses and authorize others to use the Licensed
              Property. RWE’s failure to respond within seven days upon written notice
              thereof shall be deemed approval.

      	 	 	 

      	 	1.2 	Unless
              earlier terminated as provided herein, the exclusive License granted
              shall
              be for a period of three years (the “Term”)
              except that Pro Elite shall have the right to use the Licensed Property
              to
              sell without charge to Pro Elite after the termination of the Term
              products produced prior to the termination of the Term and to distribute,
              with the right to subdistribute, and otherwise exploit in perpetuity
              for
              all media now existing or hereafter devised the Event Content as defined
              in Section 2.3. Upon termination, subject to the preceding sentence,
              footage from content utilizing the Licensed Property or content or
              property provided by RWE not constituting Event Content shall revert
              back
              to RWE, and thereafter Pro Elite may use only such content as licensed
              by
              RWE at the time of the termination of this Agreement and for
              payment/compensation to be negotiated in good faith by the
              parties.

    

    
       

      
         

      

      
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            	1.3	
              Pro
                Elite agrees that all services and products containing the Licensed
                Property shall be of high standard and shall be at least of similar
                quality as similar services and products being used, sold or distributed
                in the same industry. Pro Elite will place all appropriate legal
                notices
                where possible regarding the Licensed Products and, upon written
                request
                of RWE, will submit samples for RWE’s approval, not to be unreasonably
                withheld or delayed.

            

    

     

    
      	2.	
              Events

            	
               

            

    

     

    
      	
            	2.1	
              During
                the Term, neither Pro Elite nor the Subsidiary shall be required
                to
                produce any specific or minimum number of Events. The Subsidiary
                shall
                have the sole right to determine when and where any Event will take
                place
                and will have the responsibility for organizing, conducting and exploiting
                the Event.

            

    

     

    
      	
            	2.2	
              Prior
                to each Event, the Participants shall agree upon a budget for each
                Event,
                and Pro Elite shall provide, as and when required, the funds necessary
                to
                produce each Event (“Production
                Expenses”),
                it being understood, however, that, to the maximum extent possible,
                all
                production costs shall be paid out of revenues from the Event. Pro
                Elite
                shall have control of and approval rights with respect to all expenditures
                and RWE shall have no right to incur any expense or enter into any
                agreement with respect to any Event without the advance written approval
                of Pro Elite.

            

    

     

    
      	
            	2.3	
              All
                content developed by the Subsidiary with respect to Martial Arts
                and
                Events, including all trademarks, good will and the portion of the
                business pertaining to and symbolized by such trademarks, which shall
                also
                include trademarks as word marks, independent of any design, as well
                as
                part of any design, and the registration of such trademarks, if any,
                and
                including without limitation, all common law rights therein, all
                designs
                and logos related thereto, and all stylized versions thereof, together
                with the right to recover for damages and profits for the past
                infringement thereof (the “Event
                Content”),
                shall be exclusively owned by Pro Elite or the Subsidiary. The Event
                Content shall also include any and all domain names and websites
                developed
                by the Subsidiary or Pro Elite, copyrights, if any, in and to the
                marks,
                domain names and websites, and all copyrights owned or controlled
                by the
                Subsidiary or Pro Elite related to such marks, domain names and websites
                throughout the universe, and all derivative rights and all rights
                to other
                versions of any of the foregoing at any time or times owned or controlled
                by the Subsidiary, throughout the universe. RWE shall have no rights
                to
                the Event Content.

            

    

     

    
      
         

      

      
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            	2.4	
              Pro
                Elite shall have the exclusive right in perpetuity to distribute,
                exploit
                and otherwise turn to account (and authorize others to do so and
                to grant
                sublicenses and the right to sub-distribute) all Event Content arising
                from each Event over video, Internet, television and all other media
                whether now known or hereafter devised. After reimbursement to Pro
                Elite
                for its hard costs, including dubbing and packaging, Pro Elite shall
                receive a distribution fee of 20% of distribution proceeds from Events
                if
                the distribution is handled internally by Pro Elite and 30% of
                distribution proceeds if Pro Elite utilizes the services of a third-party
                distributor to handle the distribution, which shall include the fees
                charged by the third-party
                distributor.

            

    

     

    
      	
            	2.5	
              Pro
                Elite or the Subsidiary shall have all rights to all intellectual
                property
                rights arising from the Events, including ancillary projects which
                include
                but are not limited to reality television shows, television programs,
                and
                other potential future media content and production (“Ancillary
                Projects”).

            

    

     

    
      	
            	2.6	
              As
                soon as practicable after receipt of gross proceeds (but in no event
                later
                than 75 days after the date of the Event), Pro Elite shall distribute
                the
                gross proceeds of each Event, including proceeds from gate, media,
                licensing, merchandise, pay-per-view concessions and all other ancillary
                revenue streams in the following
                order:

            

    

     

    	(a)  	
            Reimbursement
              to Pro Elite for Production Expenses and RWE Payments, as defined
              below;

          

     

    	(b)  	
            Management
              fee of 15% of the gross receipts of the Event (less the distribution
              fee
              referred to in Paragraph (b)) to be paid to Pro Elite;
              and

          

     

    	(c)  	
            After
              payment of all the foregoing expenses and fees and all other expenses
              and
              costs related to organizing, producing and exploiting the Event, Fifty
              Percent of the remaining proceeds from the Event to be distributed
              as
              payment for the License to RWE, and the other Fifty Percent of the
              remaining proceeds from the Event to be distributed to Pro
              Elite.

          

     

    	(d)  	
            Any
              excess of expenses and fees over revenues for an Event shall be carried
              over to the next Event(s).

          

     

    
      	
            	2.7	
              Pursuant
                to separate consulting agreements (a “Service
                Agreement”)
                to be negotiated, RWE shall provide to Pro Elite the exclusive services
                in
                the area of Martial Arts of Jay Dee Penn (“Penn”)
                and another individual associated with and designated by RWE acceptable
                to
                Pro Elite (the “Designated
                Employee”)and
                the nonexclusive advisory services in the area of Martial Arts of
                Raffi
                Nahabedian (“Nahabedian”),
                it being agreed that any existing employment or consulting agreement
                covering Martial Arts with Penn and the Designated Employee will
                be
                terminated. For services of Penn, Pro Elite shall pay to RWE a monthly
                fee
                of $15,000 and for the services of the Designated Employee Pro Elite
                shall
                pay to RWE a monthly fee of $4,000. For the services of Nahabedian,
                Pro
                Elite shall pay to Nahabedian a monthly fee of $10,000. All payments
                under
                this Section 2.7 are defined as “RWE
                Payments”.
                The term for the Services Agreement with Penn shall be coextensive
                with
                the Term and the term with respect to the Designated Employee and
                Nahabedian shall be on an at will basis. Each Service Agreement shall
                be
                negotiated in good faith and shall enumerate the services to be
                performed.

            

    

     

    
      
         

      

      
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            	2.8	
              During
                the Term, neither RWE nor any affiliate of RWE, including Penn, shall
                produce or develop, or exploit Martial Arts events or programming
                or
                provide directly or indirectly (through license or otherwise) any
                RWE
                content to any other third party.

            

    

     

    
      	
            	2.9	
              In
                connection with the promotion and advertising of each Event, the
                Subsidiary shall have the right to use and sublicense to third parties
                all
                of RWE’s existing content.

            

    

     

    
      	
            	2.10	
              Subject
                to Section
                2.2,
                each party shall provide to the other an accounting of the expenses
                incurred by such party for each Event which shall be consistent with
                the
                budget and subject to review by the other party in
                advance.

            

    

     

    
      	
            	2.11	
              Penn
                shall have the sole authority to act on behalf of RWE except that
                Penn
                shall have the right to designate from time to time an individual
                to act
                in his stead in the event of his death or disability (as such term
                is to
                be defined in the Service Agreement). Such individual shall be acceptable
                to Pro Elite in its sole discretion and shall replace Penn for all
                purposes hereunder including pursuant to the Services
                Agreement.

            

    

     

    
      	3.	 	
              Negotiation
                Right

            

    

     

    During
      the Term, Pro Elite shall have the exclusive right to negotiate for all
      Ancillary Projects that RWE is currently contemplating, discussing or
      negotiating with other parties as of the Effective Date (which such Projects
      are
      listed in Schedule
      3),
      other
      than Events with respect to which the Company has rights pursuant to
Section
      2.
      Only
      upon receipt of written notice from Pro Elite pursuant to Section
      13
      of this
      Agreement that Pro Elite has chosen to waive its right to all or part of the
      Ancillary Project may RWE then have the exclusive right to the part of the
      Ancillary Project so waived. Such waiver shall not constitute a blanket waiver
      of all Ancillary Projects, but shall be limited to that one Ancillary Project
      specified in the waiver. RWE shall advise Pro Elite with as much advance notice
      as possible as to all projects it is contemplating to undertake. If Pro Elite
      elects to undertake an Ancillary Project of RWE (other than related to an
      Event), it must do so on reasonable terms consistent with industry standards
      and
      must do so without delay. If it appears that Pro Elite is delaying such
      Project(s), RWE shall provide Pro Elite with written notice of the delay and
      a
      formal request to move such Project along within thirty (30) days or RWE can
      reclaim the Project and shop it elsewhere.

     

    
      	4.	 	
              Distribution
                Rights; Rights to Website

            

    

     

    
      	
            	4.1	
              In
                addition to the distribution rights referred to in Section
                2.4, during the Term, Pro Elite shall have exclusive rights to all
                of
                RWE’s existing content and shall have the right to distribute, exploit
                and
                otherwise turn into account such content over video, internet, television
                and all other media whether now known or hereafter existing(“Distribution”).
                The gross proceeds received by the Company from each Distribution
                other
                than from Events (the “Distribution
                Proceeds”)
                shall be distributed as follows:

            

    

     

    
      
         

      

      
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            	(a)	
              Should
                Pro Elite handle the Distribution internally without the aid of a
                third
                party sub-distributor, the Distribution Proceeds shall be distributed
                in
                the following order: (i) Pro Elite shall receive a Distribution fee
                of 20%
                of the Gross Proceeds, (ii) Pro Elite shall recoup its hard costs of
                distribution including dubbing and packaging and (iii) Fifty Percent
                of
                the then remaining net proceeds shall be distributed to RWE and the
                other
                Fifty Percent shall be distributed to Pro
                Elite.

            

    

     

    
      	
            	(b)	
              Should
                Pro Elite use the services of a third party sub-distributor to handle
                the
                Distribution, the Distribution Proceeds shall be distributed in the
                following order: (i) Pro Elite shall receive a Distribution fee of
                30% of
                the Gross Proceeds, which shall include the fees charged by the third
                party distributor, (ii) Pro Elite shall recoup its hard costs of
                distribution including dubbing and packaging and (iii) Fifty Percent
                of
                the then remaining net proceeds shall distributed to RWE and the
                other
                Fifty Percent shall be distributed to Pro
                Elite.

            

    

     

    
      	
            	(c)	
              RWE
                shall be entitled to a full accounting of all expenses relating thereto,
                and all expenses must be reasonable and within industry
                standards.

            

    

     

    
      	
            	4.2	
              During
                the Term, Pro Elite shall have the right to use any content RWE has
                the
                right to redistribute which appears on RWE’s website(s). To the extent
                that RWE does not have the right to allow Pro Elite to use such content,
                it will so advise Pro Elite and RWE shall use its best efforts to
                obtain
                permission for Pro Elite’s usage. With respect to any new content from
                third parties, RWE shall use its best efforts to obtain clearance
                for Pro
                Elite’s use at the same time as RWE obtains rights for its use. RWE shall
                provide on its sites appropriate links to Pro Elite’s websites. Pro Elite
                shall have the right to approve the content, look, feel and functionality
                of RWE’s websites.

            

    

     

    
      	
            	4.3	
              During
                the Term, RWE shall make arrangements so that all RWE fighters shall
                set
                up their primary “fighter” page on a website(s) designated by Pro Elite
                (the “Pro Elite Sites”) and put links on all its existing web properties
                to the Pro Elite Sites.

            

    

     

    
      	5.	 	
              Option
                to Purchase Membership Interests of RWE.

            

    

     

    
      	
            	5.1	
              At
                the three-year anniversary of the Effective Date (the “Exercise
                Date”),
                Pro Elite shall have the option (the “Option”)
                to purchase all outstanding membership interests of RWE, the purchase
                price of which shall be the greater of (a) $7,000,000 or (b) an amount
                equal to four times RWE’s share of the EBITDA for Events for (i) the
                twelve months preceding the Exercise Date or (ii) upon RWE’s election,
                the average
                EBITDA of the three years preceding the Exercise Date (the “Purchase
                Price”).
                The Purchase Price shall be payable in cash, shares of common stock
                of Pro
                Elite (“Pro
                Elite Shares”)
                at Fair Market Value, as defined below, or a combination of both
                cash and
                Pro Elite Shares as determined by RWE. In the event that RWE elects
                the
                cash payout component and Company determines it is not in a financial
                position to make the payment as a balloon, the parties agree to negotiate
                in good faith a deferred payment plan. Fair Market Value shall be
                equal to
                the
                average of the last reported closing prices of the Pro Elite Shares
                for
                the ten (10) consecutive trading days ending on the trading day prior
                to
                the Exercise Date.

            

    

     

    
      
         

      

      
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            	5.2	
              If
                Pro Elite exercises the Option, the terms of the purchase, including
                customary representations and warranties and indemnification provisions
                and non-competition covenants from the principals of RWE shall be
                set
                forth in a definitive purchase agreement to be negotiated in good
                faith,
                and the Participants shall work in good faith and expeditiously towards
                the closing of all of the transactions contemplated in such purchase
                agreement. The assets of RWE shall be free and clear of all Liabilities.
                From the Effective Date to the Exercise Date, neither RWE nor any
                of its
                members shall: (a) solicit any offer or enter into any agreement
                for the
                sale, transfer or other disposition of any membership interest or
                any
                assets of RWE or for any business combination or reorganization involving
                RWE, to or with any other entity or person; (b) pursue any unsolicited
                offer for any such sale, transfer or other disposition, business
                combination or reorganization; and (c) furnish to any person or entity
                (other than Pro Elite and its authorized agents and representatives)
                any
                non-public information concerning RWE or its business, financial
                affairs
                or prospects with the intent of permitting such person or entity
                to
                evaluate a possible acquisition of any membership interest or assets
                of
                RWE or a possible business combination or reorganization involving
                RWE. In
                the event RWE receives any unsolicited offer or inquiry from any
                person,
                it will promptly (and in any event within forty-eight (48) hours)
                deliver
                to Pro Elite copies of any written communications relating to such
                unsolicited offer or inquiry as well as a complete and accurate
                description of any such offer or inquiry and the response of RWE
                thereto,
                if any.

            

    

     

    
      	
            	5.3	
              In
                order to determine whether Pro Elite will exercise the Option, RWE
                shall
                cause to afford to Pro Elite, and the accountants, counsel and other
                representatives of Pro Elite, reasonable access at least sixty (60)
                days
                prior to the Exercise Date, during normal business hours to the
                properties, books, contracts, commitments, records, financial reports
                and
                management of RWE. Each of RWE and Penn shall use reasonable efforts
                to
                furnish promptly to Pro Elite all information and documents concerning
                the
                business, operations and financial condition of RWE as Pro Elite
                may
                reasonably request to the extent that such documents contain information
                not available to Pro Elite because of Pro Elite’s role in operating the
                Events. Each of RWE and Penn shall provide to Pro Elite all information
                reasonably requested by Pro Elite for the purpose of evaluating the
                transaction contemplated hereby and not use, disclose or disseminate
                any
                confidential information or trade secrets which Pro Elite may provide
                to
                RWE in connection with the transactions contemplated
                hereby.

            

    

     

    
      
         

      

      
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            	5.4	
              If
                Pro Elite does not exercise the Option, such non-exercise shall not
                in any
                way affect Pro Elite’s exclusive ownership of the Event
                Content.

            

    

     

    
      	6.	 	
              Issuance
                of Pro Elite Warrants.

            

    

     

    Within
      10
      business days of the Effective Date, Pro Elite shall issue to RWE a five year
      warrant to purchase 750,000 Pro Elite Shares at an exercise price of $2.00
      per
      share. Such warrant shall vest over a term of three years on an equal
      installment basis, on each of November 13, 2007, November 13, 2008 and November
      13, 2009, and shall not vest on a pro-rata basis. In the event this Agreement
      is
      terminated pursuant to Section
      11
      of this
      Agreement, RWE shall not thereafter be able to exercise any warrants that are
      not vested, provided, that if Pro Elite terminates this Agreement without cause
      prior to November 13 of any year, the vesting shall be pro rata for any period
      of less than a year. 

     

    
      	7.	 	
              Observer
                of and Appointment to the Board of Directors of Pro Elite.

            

    

     

    During
      the Term, Penn shall be invited to attend scheduled board meetings held by
      the
      Board of Directors of Pro Elite (the “Board”)
      as a
      silent and non-voting attendee. Subject to: (a) Pro Elite’s exercise of the
      Option pursuant to Section
      5
      of this
      Agreement, (b) the successful completion of the acquisition of RWE by Pro Elite
      and (c) shareholder approval to appoint Penn to the Board, Penn shall be
      appointed to the Board. Should Penn be unable to physically attend all such
      meetings, all necessary efforts must be made to ensure that Penn may participate
      by telephone.

     

    
      	8.	 	
              Representations
                and Warranties.

            

    

     

    
      	
            	8.1	
              General.
                As of the date hereof and as of the Closing, each of the Pro Elite
                and RWE
                represents and warrants to the other parties that: (a) such party
                is duly
                organized, validly existing and in good standing under the Laws of
                the
                jurisdiction of its formation; (b) such party has all necessary power
                and
                authority to execute, deliver and perform this Agreement and each
                other
                agreement or instrument contemplated hereby and thereby to which
                it is or
                will become a party (the “Related
                Agreements”);
                (c) the execution, delivery and performance of this Agreement and
                each
                Related Agreement to which it is a party have been duly authorized
                by all
                necessary action on the part of such party; (d) this Agreement and
                each
                Related Agreement to which it is a party, when executed and delivered
                by
                such party, will constitute, the valid and binding obligations of
                it,
                enforceable against it in accordance with its terms, except as such
                enforceability may be limited by bankruptcy, insolvency, reorganization,
                moratorium and other similar Laws relating to or limiting creditors’
                rights generally and equitable principles; and (e) the execution,
                delivery
                and performance by such party of this Agreement and each Related
                Agreement
                to which it is a party and the consummation by it of its obligations
                hereunder and thereunder do not and will not (x) violate its charter
                documents, (y) violate any applicable Law known to it, or (z) result
                in any breach or default under any provision of any contract to which
                it
                is a party or by which it is bound.

            

    

     

    
      
         

      

      
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            	8.2	
              Legal
                Proceedings.
                Each of Pro Elite and RWE represents and warrants to the other parties
                that (a) there are no claims, actions, suits, arbitrations, proceedings
                or
                investigations by or before any Governmental Authority pending or,
                to such
                party’s knowledge, threatened, that questions the validity of, or restrict
                such party from consummating, the transactions contemplated by this
                Agreement and (b) such party is not subject to any judgment, order,
                writ,
                injunction, civil investigative demand or decree of any Governmental
                Authority that questions the validity of, or restrict such party
                from
                consummating, the transactions contemplated by this Agreement, and,
                to
                such party’s knowledge, no such judgment, order, writ, injunction, civil
                investigative demand or decree is threatened against such
                party.

            

    

     

    
      	
            	8.3	
              Rumble
                World Entertainment.
                Except as disclosed on Schedule A attached hereto, RWE represents
                and
                warrants to Pro Elite that it is the sole and exclusive owner of
                all
                right, title and interest in and to the Licensed Property, free and
                clear
                of any right, title, interest, claim, lien or encumbrance of any
                kind or
                nature whatsoever, and has all right, power and authority to enter
                into
                and perform this Agreement without the consent or approval of any
                third
                party. Any intellectual property RWE provides or licenses to Pro
                Elite
                shall be free and clear of third party claims and will not,
                in
                any way, infringe upon or violate any copyright or any rights of
                privacy
                or publicity, common law rights, or any other rights of any third
                party or
                constitute a libel or slander against any person, firm or
                corporation.

            

    

     

    
      	
            	8.4	
              Consulting
                Agreement.
                Penn represents and warrants to Pro Elite that he has the right to
                enter
                into the Consulting Agreement applicable to
                him.

            

    

     

    
      	9.	 	
              Assignment.

            

    

     

    This
      Agreement shall be binding upon and inure to the benefit of the parties named
      herein and their respective successors and assigns. However, no assignment
      by a
      party to this Agreement of any of such party’s rights or obligations under this
      Agreement shall in any manner release the assigning party of any of its
      obligations under this Agreement without the prior written approval of each
      of
      the other parties to this Agreement. Furthermore, (a) if a party to this
      Agreement is merged or consolidated with or into another entity, the surviving
      entity shall be bound by all of the merging or consolidating party’s obligations
      under this Agreement, and (b) if a party to this Agreement sells all or
      substantially all of its assets to another Person, the purchaser shall be bound
      by all of the selling party’s obligations under this Agreement. If control of
      any party to this Agreement changes as a result of the sale or other transfer
      of
      ownership interests in such party, the rights and obligations of such party
      under this Agreement shall not be altered by reason of the change of control.
      

     

    
      
         

      

      
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      	10.	 	
              Confidentiality.

            

    

     

     

    
      	
            	10.1	
              All
                information which is not public knowledge disclosed heretofore or
                hereafter by any party to any other party (including its attorneys,
                accountants or other representatives) in connection with this Agreement
                or
                any related document, including the terms and conditions of this
                Agreement
                and information disclosed pursuant to nondisclosure agreements with
                third
                parties, shall be kept confidential
                by such other party, and shall not be used by such other party otherwise
                than for use as herein contemplated, except to the extent (a) it is
                or hereafter becomes public knowledge (other than by action of the
                disclosing party in breach of this Agreement) or becomes lawfully
                obtainable from other sources, including a third party who is not
                known to
                be under an obligation of confidentiality to the party disclosing
                such
                information or to whom information was released without restriction;
                or
                (b) such other party is compelled to disclose such information
                publicly by judicial
                or administrative process or, in the opinion of its counsel, by other
                Legal Requirements, and then only to the extent of such required
                public
                disclosure; or (c) such duty as to confidentiality and non-use is
                waived by such non-disclosing party. In the event of termination
                of
                this
                Agreement, each party shall exercise all reasonable efforts to return,
                upon request, to the other parties all documents and reproductions
                thereof
                received from such other parties (and, in the case of reproductions,
                all
                such reproductions made by the receiving party) that include information
                not within the exceptions contained in the first sentence of this
                Section 10.1.
                

            

    

     

    
      	
            	10.2	
              Notwithstanding
                Section
                10.1,
                the parties may disclose the terms of this Agreement to its employees,
                officers, and permitted agents and representatives,
                customers
                and suppliers as may be necessary or appropriate. 

            

    

     

    
      	
            	10.3	
              Representatives.
                Each party shall require its employees, officers, customers, suppliers,
                and permitted agents and representatives to comply with this Section
                10.
                

            

    

     

    
      	11.	 	
              Termination.

            

    

     

    If
      this
      Agreement is terminated, all further obligations of the parties under this
      Agreement will terminate without further liability of any party to another;
      provided that the obligations of the parties contained in Sections
      6,
      8,
      9,
      10
      and
11
      will
      survive any such termination, and provided further that if the Agreement is
      terminated by Pro Elite For Cause all rights to the Licensed Property shall
      continue until expiration of the three year period and all rights to the Event
      Content shall continue in perpetuity. This Agreement may be terminated by (a)
      mutual agreement of both Participants, (b) by either Participant For Cause
      if
      the breaching party has failed to correct its breach after fifteen days notice
      from notice from the non-breaching party, or (c) by Pro Elite on thirty days’
notice. Notwithstanding the foregoing, a termination under this section will
      not
      relieve any party of any liability for a breach of, or for any misrepresentation
      under this Agreement, or be deemed to constitute a waiver of any available
      remedy (including specific performance if available) for any such breach or
      misrepresentation. Notwithstanding anything to the contrary, upon termination,
      the license to Pro Elite to use the Licensed Property shall be terminated
      subject, however, to the provisions of this Section 11 and Section 1.2. No
      termination shall affect the rights of the parties hereto to amounts due under
      this Agreement including with respect to Events scheduled prior to termination
      that actually occur.

     

    
      
         

      

      
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          -9

        
          

        

      

      
         

      

    

     

    
      	12.	 	
              Survival.

            

    

     

    The
      representations and warranties of the parties contained in this Agreement shall
      survive the execution and delivery of this Agreement and the Closing and shall
      remain in full force and effect until the three-year anniversary of the Closing
      (the “Expiration
      Date”).

     

    
      	13.	 	
              Miscellaneous.

            

    

     

    
      	
            	13.1	
              Governing
                Law.
                This Agreement and any action instituted by any party with respect
                to
                matters arising hereunder shall be governed by and construed in accordance
                with the laws of the State of California applicable to contracts
                made and
                performed in such State and without regard to conflicts of law doctrines.
                

            

    

     

    
      	 	13.2	
              Mediation;
                Fees and Expenses.
                

            

    

     

    
      	
            	(a)	
              Except
                as otherwise provided in this Section
                13.2(a),
                no civil action regarding any controversy, dispute or claim under,
                arising
                out of, in connection with or in relation to this Agreement (including,
                without limitation, the interpretation, construction, coverage, scope,
                performance, non-performance, breach, termination, validity or
                enforceability of this Agreement) may be commenced by the Subsidiary,
                by
                Pro Elite, RWE or any other Person who is subject to the terms of
                this
                Agreement until the matter has been submitted to the Los Angeles,
                California office of JAMS for confidential mediation. The Subsidiary,
                Pro
                Elite, RWE or any other Person who is subject to the terms of this
                Agreement may commence mediation by providing to JAMS and the other
                parties a written request for mediation, setting forth the subject
                of the
                dispute and the relief requested. The parties agree to cooperate
                with JAMS
                and with one another in selecting a mediator from the JAMS panel
                of
                neutrals and in scheduling and conducting the mediation proceeding.
                The
                parties agree that they shall participate in the mediation in good
                faith,
                and that they shall share its costs equally. All offers, promises,
                conduct
                and statements, whether oral or written, made in the course of the
                mediation by any of the parties, their agents, employees, experts
                or
                attorneys, and by the mediator and any JAMS employees, shall be
                confidential, privileged and inadmissible for any purpose, including
                impeachment, in any litigation or other proceeding involving the
                parties,
                provided that evidence that is otherwise admissible or discoverable
                shall
                not be rendered inadmissible or non-discoverable as a result of its
                use in
                the mediation.

            

    

     

    
      	
            	(b)	
              Notwithstanding
                the provisions of Section
                13.2(a),
                any party may seek temporary or preliminary injunctive relief or
                other
                equitable relief in any court of competent jurisdiction at any time
                prior
                to the commencement or completion of the mediation in order to preserve
                the status quo pending the completion of the mediation process or
                to
                prevent immeasurable and irreparable injury that might result from
                a
                breach of this Agreement or of another agreement to which such party
                is
                subject. 

            

    

     

    
      
         

      

      
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            	(c)	
              Except
                for an action to obtain equitable relief that is described in Section
                13.2(b),
                a
                civil action with respect to the matters submitted to mediation may
                not be
                commenced until after the completion of the initial mediation session
                or
                sixty days after the date of filing the written request for mediation,
                whichever occurs first. Mediation may continue after the commencement
                of a
                civil action, if the parties so desire. The provisions of this
                Section
                13.2
                may be enforced by any court of competent
                jurisdiction.

            

    

     

    
      	
            	(d)	
              The
                unsuccessful party to any civil action that is permitted by this
                Agreement
                shall pay to the prevailing party all costs and expenses, including,
                without limitation, reasonable attorneys' fees, incurred therein
                by the
                prevailing party, all of which shall be included in and as a part
                of the
                award rendered in such proceeding or action. For purposes of this
                Section
                13.2(d),
                attorneys’ fees shall include, without limitation, fees incurred in
                connection with post-judgment and post-award actions.
                

            

    

     

    
      	 	13.3	
              Counterparts;
                Headings; Facsimile Execution.
                This Agreement may be executed in two or more counterparts, each
                of which
                shall be deemed an original but all of which together shall constitute
                one
                and the same instrument. Any counterpart or other signature delivered
                by
                facsimile shall be deemed for all purposes as being a good and valid
                execution and delivery of this Agreement by that party. The descriptive
                headings of the Articles, Sections and subsections of this Agreement
                are
                for convenience only and do not constitute a part of this
                Agreement.

            

    

     

    
      	 	13.4	
              Notices.
                Any notice or other communication hereunder must be given in writing
                and
                (a) delivered in person, (b) transmitted by facsimile or
                telecommunications mechanism, provided that any notice so given is
                also
                mailed as provided in clause (c), or (c) mailed by certified or registered
                mail, postage prepaid, receipt requested, in each case to the address
                or
                facsimile number set forth below each party’s name on the signature pages
                hereto, or to such other address or to such other Person as a party
                shall
                have last designated by such notice to the other party. Each such
                notice
                or other communication shall be effective (i) if given by
                telecommunication, when transmitted to the applicable number so specified
                in (or pursuant to) this Section
                13.4
                and an appropriate answerback is received or, if transmitted after
                4:00
                p.m. local time on the day following the date on which such notice
                is
                sent, (ii) if given by mail, three days after such communication
                is
                deposited in the mails with first class postage prepaid, addressed
                as
                aforesaid or (iii) if given by any other means, on the day when actually
                received at such address.

            

    

     

    
      
         

      

      
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          -11

        
          

        

      

      
         

      

    

     

    
      	 	13.5	
              Books.
                Pro Elite agrees to keep accurate books of accounts and records covering
                all transactions relating to the Events, Event Content and exploitation
                of
                the Licensed Property, and to grant to an independent certified public
                accountant, appointed by and at the expense of RWE, the right to
                an
                examination during mutually convenient business hours of the day
                of said
                books of accounts and records and of all other documents and materials
                in
                the possession or under the control of Pro Elite with respect to
                the
                subject matter and the terms of this Agreement, and the accountant
                shall
                have free and full access thereto for said purposes and for the purpose
                of
                making confidential extracts therefrom. Pro Elite hereby authorizes
                and
                shall require all persons or entities supplying services covered
                by this
                Agreement to supply accurate books and records of products produced
                for
                Pro Elite to RWE at RWE’s request. All books of accounts and records shall
                be kept available for two years after the termination of this Agreement,
                or any renewal thereof, and Pro Elite agrees to permit such an examination
                during such two-year period.

            

    

     

    
      	 	13.6	
              Audit
                by RWE.
                RWE, upon giving to Pro Elite at least thirty (30) days advance written
                notice by certified mail of its intention to do so, shall have the
                right
                to audit all books and records which Pro Elite is required to maintain
                pursuant to the above. In the event that it has been finally determined
                that Pro Elite has understated payments due RWE for any reporting
                period,
                Pro Elite shall forthwith and upon written demand pay to RWE the
                amount,
                if any, by which the actual payment due exceeds payments paid. If
                the
                amount of underpaid payment exceeds 5% of payments due in any quarter,
                Pro
                Elite shall also pay a 10% penalty based on the amount underpaid
                for that
                quarter. If Pro Elite has overstated sales or overpaid payments,
                any
                excess paid shall be credited against the next payment due. Pro Elite
                shall forthwith and upon demand also pay RWE all costs, fees, penalty
                and
                expenses incurred by RWE in conducting such audit only in the event
                that
                it is finally determined that Pro Elite underpaid payments due by
                more
                than 5% of the payment due.

            

    

     

    
      	 	13.7	
              Waiver;
                Amendment.
                Any provision of this Agreement may be amended only by a written
                instrument signed by Pro Elite and RWE. The waiver of any right under
                this
                Agreement requires only the written consent of the party waiving
                such
                right. Failure to insist upon strict compliance with any of the terms
                or
                conditions of this Agreement will not be deemed a waiver of such
                term or
                condition, nor will any waiver or relinquishment of, or failure to
                insist
                upon strict compliance with, any right hereunder at any one or more
                times
                be deemed a waiver or relinquishment of such right at any other time
                or
                times.

            

    

     

    
      	 	13.8	
              Entire
                Agreement.
                This Agreement constitutes the entire agreement among the parties
                relative
                to the subject matter of this Agreement. This Agreement replaces
                and
                supersedes all prior written or oral agreements, statements,
                correspondence, negotiations and understandings among the parties
                with
                respect to the matters covered by this Agreement.
                

            

    

     

    
      	 	13.9	
              Representation
                by Counsel; Interpretation.
                The parties hereto acknowledge that each party to this Agreement
                has been
                represented by counsel in connection with this Agreement and the
                transactions contemplated by this Agreement. Accordingly, any rule
                of Law,
                or any legal decision that would require interpretation of any claimed
                ambiguities in this Agreement against the party that drafted it has
                no
                application and is expressly
                waived.

            

    

     

    
      
         

      

      
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          -12

        
          

        

      

      
         

      

    

     

    
      	 	13.10	
              Severability.
                If any provision of this Agreement is determined to be invalid, illegal
                or
                unenforceable, the remaining provisions of this Agreement, to the
                extent
                permitted by Law, shall remain in full force and effect provided
                that the
                essential terms and conditions of this Agreement for all parties
                remain
                valid, binding and enforceable.

            

    

     

    
      	 	13.11	
              Further
                Assurance.
                Each party agrees to cooperate fully with the other parties, to take
                such
                actions, to execute such further instruments, documents and agreements,
                and to give such further written assurances, as may be reasonably
                requested by any other party to evidence and reflect the transactions
                described herein and contemplated hereby, and to carry into effect
                the
                intents and purposes of this
                Agreement.

            

    

     

    
      	 	13.12	
              Expenses.
                Subject to Section
                13.2(d)
                regarding payment of a prevailing party’s costs and expenses in a civil
                action, each party will each pay its own expenses incident to the
                negotiation, preparation and performance of this Agreement and the
                transactions contemplated hereby and
                thereby.

            

    

     

    
      	14.	 	
              Certain
                Definitions.

            

    

     

    As
      used
      in this Agreement, the following terms have the following respective
      meanings:

     

    
      	
            	14.1	
              “For
                Cause”
                means the material breach of any provision of this Agreement or of
                any
                Service Agreement with Jay Dee Penn.

            

    

     

    
      	
            	14.2	
              “Governmental
                Authority”
                means any court, tribunal, arbitrator, authority, agency, commission,
                official or other instrumentality of the United States, any other
                country
                or any state, county, city or other political subdivision of the
                United
                States or any other country.

            

    

     

    
      	
            	14.3	
              “Law”
                means all federal, state, local, municipal, and other laws, statutes,
                constitutions, ordinances, codes, edicts, decrees, injunctions,
                stipulations, judgments, orders, rulings, rules, regulations, assessments,
                writs, and requirements whether
                temporary, preliminary or permanent, issued,
                enacted, adopted, promulgated, implemented or otherwise put into
                effect by
                or under the authority of any Governmental
                Authority.

            

    

     

    
      	
            	14.4	
              “Legal
                Requirement”
                means any federal, state, local, municipal, foreign, international,
                multinational or other administrative order, constitution, law, ordinance,
                principle of common law, regulation, statute or
                treaty.

            

    

     

    
      	
            	14.5	
              “Liabilities”
                means debts, liabilities and obligations, whether accrued or fixed,
                absolute or contingent, matured or unmatured, determined or determinable,
                known or unknown, including those arising under any law, action or
                governmental order and those arising under any contract, agreement,
                instrument, commitment or
                undertaking.

            

    

     

    
      
         

      

      
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          -13

        
          

        

      

      
         

      

    

     

    
      	
            	14.6	
              “Person”
                shall be construed broadly and shall include an individual, a partnership,
                a corporation, an association, a joint stock company, a limited liability
                company, a trust, a joint venture, an unincorporated organization,
                a
                Governmental Authority or any department, agency or political subdivision
                thereof, and any other entity or
                organization.

            

    

     

    
      	
            	14.7	
              “Martial
                Arts”
                means all types of martial arts and combat sports including mixed
                martial
                arts.

            

    

     

    

    IN
      WITNESS WHEREOF, the parties to this Agreement have executed this Agreement
      as
      of the date first above written.

    
       

    

    
      	 	
              PRO
                ELITE, INC.

               

               

              By:
                _______________________________________

              Name: 

              Title: 

               

              Address: 
                ______________________________

                                     __________________________

              Facsimile:
                ______________________________  

               

               

            
	 	
              RUMBLE
                WORLD ENTERTAINMENT, LLC

               

               

               

              
                By:
                  _______________________________________

                Name: 

                Title: 

                 

                Address: 
                  ______________________________

                                       __________________________

                Facsimile:
                  ______________________________ 

              

               

            
	 	
              Agreed
                to:

               

               

              _____________________________

              Jay
                Dee Penn

            

    

    

    
      
         

      

      
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    SCHEDULE
      A

     

    “Rumble
      World Entertainment”

     

    	1.  	
            The
              trademarks “RUMBLE WORLD ENTERTAINMENT”, “RWE”, “RUMBLE ON THE ROCK”, and
              “ROTR” throughout the universe.

          

     

    	2.  	
            The
              good will and portion of the business of RWE pertaining to and symbolized
              by such trademarks. 

          

     

    	3.  	
            Such
              trademarks include, but are not limited to the words “RUMBLE WORLD
              ENTERTAINMENT”, “RWE”, “RUMBLE ON THE ROCK”, and “ROTR” as word marks,
              independent of any design, as well as part of any design, and the
              registration of such trademarks, if any, and including without limitation,
              all common law rights therein, all designs and logos related thereto,
              and
              all stylized versions thereof, together with the right to recover for
              damages and profits for the past infringement thereof, and the good
              will
              and portion of the business of RWE pertaining to and symbolized by
              such
              trademarks.

          

     

    	4.  	
            The
              domain names and websites http://www.rumbleontherock.com/,
              http://www./rumbleworld.tv (herein individually and collectively referred
              to as “Website”) throughout the universe.

          

     

    	5.  	
            Copyrights
              in and to the marks, the Website and all content contained therein,
              and
              all copyrights owned or controlled by RWE related to such marks, Website,
              and content throughout the universe.

          

     

    	6.  	
            RWE
              has no rights in or to the names and marks “BJ PENN”, “BJ PENN.COM”, and
              “BJ PENN MIXED MARTIAL ARTS ACADEMY” including variants thereof. Apart
              from its rights to use existing content from previous mixed martial
              arts
              bouts in which BJ Penn appears, RWE has no rights to any likeness or
              image
              of BJ Penn.

          

     

    

    
      
         

      

      
        A
          -15ASSET
      PURCHASE AGREEMENT

     

    THIS
      ASSET PURCHASE AGREEMENT dated as of November 30, 2006 is made and entered
      into
      by and between Real Sport, Inc., a California corporation (“Purchaser”), and Pro
      Elite, Inc. (“Parent”), a New Jersey corporation, on the one hand; and
      Lifelogger LLC, a Delaware limited liability company (the “Seller”), on the
      other hand.

     

    A. Pursuant
      to a Contribution Agreement dated as of October 3, 2006 (the “Contribution
      Agreement). Seller acquired all of the assets (the “Purchased Assets”) of
      Orientations Network Sdn Bhd, a Malaysian domiciled entity ("Lifelogger
      Malaysia”).

     

    B. Purchaser
      wishes to purchase from Seller, and Seller wishes to sell to Purchaser, the
      Purchased Assets.

     

    C. Purchaser
      is a wholly owned subsidiary of Parent.

     

    NOW,
      THEREFORE, in consideration of the mutual promises and covenants set forth
      herein, the parties hereby agree as follows:

     

    ARTICLE
      I

     

    DEFINITIONS

     

    When
      used
      in this Agreement, the following terms shall have the respective meanings set
      forth below:

     

    “Affiliate”
      shall mean with respect to any Person (i) a Person directly or indirectly
      controlling, controlled by or under common control with such Person; or
      (ii) an officer, director, member or partner of such Person. For these
      purposes, control means the possession, direct or indirect, of the power to
      direct or cause the direction of the management and policies of a Person,
      whether its the ownership of voting securities, by contract or
      otherwise.

     

    “Agreement”
      shall mean this Asset Purchase Agreement, including all exhibits and schedules
      thereto, as the same may hereafter be amended, modified or supplemented from
      time to time.

     

    “Applicable
      Law” shall mean, with respect to any Person, any statute, law, regulation,
      order, injunction, judgment, decree or other requirement of any Authority
      applicable to such Person or any of its Affiliates or any of their respective
      properties, and assets.

     

    “Authority”
      shall mean any governmental, regulatory or administrative body, agency or
      authority, any court of judicial authority, any arbitrator or any public,
      private or industry regulatory authority.

     

    “Books
      and Records” of Seller shall mean copies of all books and records, ledgers,
      employee records, customer lists, files, correspondence, computer data bases,
      accounting information and other records of every kind, whether written,
      computerized or maintained in any other medium, which are owned by Seller or
      in
      which Seller has any interest, which in each case relates to the Purchased
      Assets.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Closing”
      shall mean the consummation of the transactions contemplated in this
      Agreement.

     

    “Closing
      Date” shall mean the date upon which the Closing occurs.

     

    “Effective
      Time” shall mean 12:01 a.m. Los Angeles time on the Closing
      Date.

     

    “Indemnified
      Party” shall have the meaning specified at Section 13.3.

     

    “Indemnifying
      Party” shall have the meaning specified at Section 13.3.

     

    “Intellectual
      Property” shall mean all intangible properties relating to the Purchased Assets
      and in which Seller has any interest (including the right to use by license
      or
      otherwise), and includes, without limitation, all of the following (to the
      extent related to the foregoing): (i) all trademarks, service marks, trade
      names, trade dress, domain names, logos, corporate names, slogans and commercial
      symbols, all applications therefor, and all associated goodwill; (ii) all
      copyrights, all applications therefor and all associated goodwill; (iii) 
all technical information, know-how, trade secrets, processes, operating,
      maintenance and other manuals, drawings and specifications, and related data,
      and all associated goodwill; (iv) all “software” and all documentation
      thereof, (including all electronic data processing systems and program
      specifications, functional specifications, source and object codes, algorithms,
      architecture, input data, report layouts and format, record file layouts,
      diagrams, narrative descriptions and flow charts) (collectively, “Software”);
      (v) all other inventions, discoveries, improvements, processes, formulae
      (secret or otherwise), data, drawings, specifications, trade secrets,
      confidential information, financial, marketing and business data, pricing and
      cost models and information, business and marketing plans, operating procedures,
      customer and supplier lists, vendor numbers, knowledge of customer preferences
      and buying practices and all other ideas (including those in the possession
      of
      third parties, but which are the property of Seller); (vi) all drawings,
      records, books or other tangible media embodying the foregoing; (vii) all
      rights to obtain and rights to register patents, trademarks and copyrights;
      and
      (viii) all rights to sue or recover and retain damages and costs and
      attorneys fees for present and past infringement of any of the
      foregoing.

     

    “Knowledge”
      shall mean, with respect to Seller, the actual knowledge of Seller.

     

    “Licenses
      and Permits” of Seller shall mean all licenses and permits issued to Seller or
      in which Seller has any interest (including the right to use).

     

    “Lien”
      shall mean any lien, pledge, mortgage, security interest, lease, charge,
      conditional sales contract, option, restriction, right of first refusal, or
      any
      other adverse claim or right whatsoever.

     

    “Losses”
      shall mean all damages, awards, judgments, assessments, fines, penalties,
      charges, costs, expenses, payments, diminutions in value and other losses,
      however suffered or characterized, all interest thereon, all costs and expenses
      of investigating any claim, lawsuit or arbitration and any appeal therefrom,
      all
      actual attorneys’ fees incurred in connection therewith, whether or not such
      claim, lawsuit or arbitration is ultimately defeated and, subject to
      Section 13.4, all amounts paid incident to any compromise or settlement of
      any such claim, lawsuit or arbitration.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    “Order”
      shall mean any decree, order, judgment, writ, award, injunction, rule or consent
      of or by an Authority.

     

    “Person”
      shall mean any entity, corporation, company, association, joint venture, joint
      stock company, partnership, trust, organization, individual (including personal
      representatives, executors and heirs of a deceased individual), or government
      (including agencies, departments, bureaus, boards, divisions and
      instrumentalities thereof).

     

    “Purchased
      Assets” shall mean those assets listed on Schedule A.

     

    “Purchaser
      Documents” shall mean this Agreement and all other agreements, instruments and
      certificates to be executed and delivered by Purchaser in connection with this
      Agreement.

     

    “Purchase
      Price” shall have the meaning specified at Section 4.1.

     

    “Required
      Contractual Consents” shall mean those consents required to be obtained in order
      to consummate the transactions contemplated by this Agreement.

     

    “Required
      Governmental Approvals” shall mean those filings, notices or approvals required
      to be obtained in order to consummate the transactions contemplated by this
      Agreement.

     

    “Securities
      Act” shall mean the Securities Act of 1933, as amended.

     

    “Seller
      Disclosure Schedule” shall mean the schedule entitled “Seller Disclosure
      Schedule”, dated of even date herewith. Seller Disclosure Schedule shall be
      considered a part of this Agreement.

     

    “Seller
      Documents” shall mean this Agreement and all other agreements, instruments and
      certificates to be executed by Seller in connection with this
      Agreement.

     

    “Software”
      shall have the meaning specified in the definition of Intellectual
      Property.

     

    “Tangible
      Personal Property” of Seller shall mean all equipment, supplies, spare parts,
      and other tangible personal property relating to the Purchased
      Assets.

     

    “Tax”
      shall mean any tax, charge, fee, levy, deficiency or other assessment of
      whatever kind or nature, together with any interest, penalty, addition to tax
      or
      additional amount imposed by any Tax Authority. “Taxing” and Taxable” shall have
      the correlative meanings.

     

    “Tax
      Authority” shall mean any Authority having jurisdiction over the reporting and
      payment of any Taxes.

     

    “Third
      Party Claim” shall have the meaning specified at Section 13.4.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    References
      in this Agreement to “Articles,” “Sections,” “Exhibits” and “Schedules,” shall
      be to the Articles, Sections, Exhibits and Schedules of this Agreement, unless
      otherwise specifically provided; any of the terms defined in this Agreement
      may,
      unless the context otherwise requires, be used in the singular or the plural
      and
      in any gender depending on the reference; the present tense shall include the
      past and future tense; the words “herein”, “hereof” and “hereunder” and words of
      similar import, when used in this Agreement, shall refer to this Agreement
      as a
      whole and not to any particular provision of this Agreement; and except as
      otherwise specified in this Agreement, all references in this Agreement
      (a) to any Person shall be deemed to include such Person’s permitted heirs,
      personal representatives, successors and assigns; and (b) to any agreement,
      any document or any other written instrument shall be a reference to such
      agreement, document or instrument together with all exhibits, schedules,
      attachments and appendices thereto, and in each case as amended, restated,
      supplemented or otherwise modified from time to time in accordance with the
      terms thereof; and (c) to any law, statute or regulation shall be deemed
      references to such law, statute or regulation as the same may be supplemented,
      amended, consolidated, superseded or modified from time to time.

     

    ARTICLE
      II

     

    SALE
      AND PURCHASE OF ASSETS

     

    2.1  Assets
      to be Transferred.
      Subject
      to the terms and conditions set forth in this Agreement and in reliance upon
      the
      representations and warranties of Seller and Purchaser herein set forth, at
      the
      Closing, Seller shall sell, transfer, convey, assign and deliver to Purchaser,
      by appropriate deeds, bills of sale, assignments and other instruments
      satisfactory to Purchaser, and Purchaser shall purchase from Seller, all of
      Seller’s right, title and interest, as of the Effective Time, in and to the
      Purchased Assets.

     

    2.2  Title
      to Purchased Assets.
      The
      Purchased Assets shall be conveyed free and clear of all liabilities,
      obligations and Liens (other than those set forth in the Seller Disclosure
      Schedules (if any)).

     

    ARTICLE
      III

     

    ASSUMPTION
      OF LIABILITIES

     

    Purchaser
      shall not assume or be liable for any liabilities or obligations of Seller,
      direct or indirect, fixed, contingent or otherwise, known or unknown, which
      exist at the Effective Time or which arise thereafter as a result of any act,
      omission or circumstance taking place prior to the Effective Time,
      including, without limitation, any of Seller’s liabilities or obligations
      relating to the past employment or termination of Seller’s employees or relating
      to any benefit plan.

     

    ARTICLE
      IV

     

    PURCHASE
      PRICE, PAYMENT AND RELATED MATTERS

     

    4.1  Purchase
      Price.
      The
      purchase price (the “Purchase Price”) for the Purchased Assets shall
      be
      4,000,000 shares of the common stock of Parent (the “Shares”), of which
      1,000,000 shares shall be held in escrow for a period of 60 (sixty) days from
      the date of this Agreement to enable the Purchaser to complete its due diligence
      and assure the transfer of the Purchased Assets. In the event that Purchaser’s
      due diligence reflects any potential breach of Seller’s representation and
      warranties, or there is a problem in the transfer of the Purchased Assets,
      the
      parties will negotiate in good faith an equitable adjustment of the shares
      held
      in escrow.

     

    
      
         

      

      
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    4.2  Status
      of Shares.
      Seller
      acknowledges that (a) the Shares have not been registered by Parent under
      the Securities Act or with any Authority and are being issued pursuant to an
      exemption from the registration requirements of the Securities Act pursuant
      to
      promulgated thereunder Section 4(2) and Regulation D and (b) the
      certificates evidencing the Shares will bear a restricted legend.

     

    4.3  Lock-Up
      Agreement.
      The
      Shares are subject to a Lock-Up Agreement by and among Seller, certain
      shareholders of Parent, and Parent, dated as of October 3, 2006.

     

    ARTICLE
      V

     

    CLOSING

     

    5.1  Time
      and Place.
      Subject
      to the provisions of Section 14.1 as to termination without default, the
      Closing shall take place at the offices of Purchaser, at 10:00 a.m. Los
      Angeles time on November 30, 2006 or at such other time and place as Purchaser
      and Seller mutually agree in writing.
      The
      Closing shall be effective (and possession and control of the Purchased Assets
      shall vest in Purchaser) as of the Effective Time.

     

    5.2  Transactions
      at the Closing.
      At the
      Closing, the following shall occur:

     

    (a)  Purchaser
      shall deliver the Closing Payment, the Shares to the Seller;

     

    (b)  Seller
      shall deliver to Purchaser assignments in registrable form of all trademarks,
      service marks, copyrights, domain names and registrations or applications for
      the same included within the Purchased Assets and a bill of sale and assignment
      of the Purchased Assets, and such other instruments of sale, transfer,
      conveyance, assignment and confirmation, and Seller shall take such further
      actions, as Purchaser may reasonably deem necessary or desirable in order to
      transfer, convey and assign to Purchaser, and to confirm Purchaser’s title to,
      all of the Purchased Assets, to put Purchaser in actual possession and operating
      control thereof and to assist Purchaser in exercising all rights with respect
      thereto; and

     

    (c)  Seller
      shall deliver to Purchaser all of the Books and Records relating to the
      Purchased Assets. 

     

    ARTICLE
      VI

     

    REPRESENTATIONS
      AND WARRANTIES

    OF
      SELLER

     

    Seller
      hereby represents and warrants to Purchaser that:

     

    
      
         

      

      
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    6.1  Organization;
      Authority; Due Authorization.

     

    (a)  Organization
      and Good Standing.
      Seller
      is a limited liability company duly organized, validly existing and in good
      standing under the Applicable Laws of the State of Delaware.

     

    (b)  Authority
      to Execute and Perform Agreements.
      Seller
      has all power, authority and approvals required to enter into, execute and
      deliver this Agreement and all of the other Seller Documents and to perform
      fully Seller’s obligations hereunder and thereunder.

     

    (c)  Due
      Authorization; Enforceability.
      Seller
      has taken all actions necessary to authorize it to enter into and perform fully
      its obligations under this Agreement and all of the other Seller Documents
      to be
      executed by it and to consummate the transactions contemplated herein and
      therein. This Agreement has been duly and validly executed by Seller and
      (assuming due authorization, execution and delivery by Purchaser) constitutes
      the legal, valid and binding obligation of Seller, enforceable in accordance
      with its terms.

     

    6.2  No
      Violation.
      Neither
      the execution or delivery by Seller of this Agreement or any of Seller Documents
      nor the consummation of the transactions contemplated herein or therein will:
      (a) violate any provision of the bylaws or other charter documents of
      Seller; (b) result in the creation or imposition of any Lien upon any of
      the Purchased Assets; or (c) violate or require any consent or notice under
      any Applicable Law or Order to which Seller or any of its properties is
      subject.

     

    6.3  Regulatory
      and Other Approvals.
      To the
      knowledge of Seller, no consent, approval, authorization, notice, filing,
      exemption or other requirement must, pursuant to any Applicable Law or Order
      be
      obtained from any Authority or Person or which must otherwise be satisfied
      by
      Seller in order that (a) the execution or delivery by Seller of this
      Agreement or any of the other Seller Documents (b) the consummation of the
      transactions contemplated herein or therein or will not (i) violate in any
      material respect any Applicable Law, any applicable Order to which Seller is
      subject or any License or Permit of Seller; or (ii) result in the creation
      or imposition of any Lien upon any of the Purchased Assets.

     

    6.4  Title
      to Purchased Assets.
      Seller
      has good and marketable title to each of the Purchased Assets and the valid
      and
      enforceable right to receive and/or use each of the Purchased Assets free and
      clear of all Liens. The delivery to Purchaser of the instruments of transfer
      of
      ownership contemplated by this Agreement will at the Effective Time vest good
      and marketable title to, or the valid and enforceable right to receive and/or
      use, each such Purchased Asset in Purchaser, free and clear of all
      Liens.

     

    6.5  Litigation.
      There
      is
      no litigation pending or, to the knowledge of Seller, threatened relating to
      the
      Purchased Assets.

     

    6.6  Intellectual
      Property.
      As of
      the date hereof to the knowledge of Seller:

     

    (i)  all
      Intellectual Property within the Purchased Assets are valid and in full force
      and effect and are not subject to any Taxes;

     

    
      
         

      

      
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    (ii)  all
      of
      the Software of Seller performs in full compliance with all of the
      specifications therefore (including, without limitation, functional
      specifications) set forth in user manuals, promotional materials or license
      agreements;

     

    (iii)  accurate
      and complete copies of all source codes relating to all versions of each item
      of
      Software of Seller exist and have been made available to Purchaser;

     

    (iv)  there
      are
      no pending claims, actions, or other adversary proceedings, disputes or
      disagreements involving Seller concerning any item of its Intellectual Property,
      and, to the Knowledge of Seller, no such action, proceeding, dispute or
      disagreement is threatened.

     

    6.7  Tangible
      Personal Property.
      As of
      the date hereof:

     

    (a)  Seller
      has good and marketable title owned by it to each item of its Tangible Personal
      Property, free and clear of all Liens or other encumbrances; and

     

    (b)  each
      item
      of Tangible Personal Property is in good operating condition and repair, usable
      in the ordinary course of business, and the operation thereof as conducted
      during the twelve-month period prior to the date hereof, as presently conducted
      and as currently proposed to be conducted is not, in any material respect,
      in
      violation of any applicable law.

     

    6.8  Investment
      Representation.
      Seller
      is and will be acquiring the Shares for investment purposes only and not with
      a
      view to distribution.

     

    ARTICLE
      VII

     

    REPRESENTATIONS
      AND WARRANTIES OF PURCHASER
      AND
      PARENT

     

    Purchaser
      and Parent each represent and warrant to Seller as follows:

     

    7.1  Due
      Incorporation.
      Purchaser is a corporation duly organized, validly existing and in good standing
      under the Applicable Laws of California and Parent is a corporation duly
      organized, validly existing and in good standing under the Applicable Laws
      of
      New Jersey.

     

    7.2  Authority
      to Execute and Perform Agreements.
      Purchaser and Parent each respectively have all requisite power, authority
      and
      approval required to enter into, execute and deliver this Agreement and the
      other Purchaser Documents and to perform fully their respective obligations
      hereunder and thereunder.

     

    7.3  Due
      Authorization; Enforceability.
      Purchaser and Parent each have taken all actions necessary to authorize
      themselves to enter into and perform their obligations under this Agreement
      including the issuance of the Shares and all other Purchaser Documents and
      to
      consummate the transactions contemplated herein and therein. This Agreement
      has
      been duly and validly executed by Purchaser and Parent and (assuming the due
      authorization, execution and delivery by Seller) constitutes the legal, valid
      and binding obligations of Purchaser and Parent enforceable in accordance with
      its terms. 

     

    
      
         

      

      
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    7.4  Capitalization.
      The
      authorized capital stock of Parent consists of (i) 250,000,000 shares of common
      stock, par value $0.0001, of which 37,499,999 shares are outstanding as of
      the
      date of this Agreement and (ii) 20,000,000 shares of preferred stock, par value
      $0.001 per share, none of which are outstanding. The Shares have been duly
      authorized, validly issued, fully paid and nonassessable, and have not been
      issued in violation of any preemptive right of stockholders. 

     

    ARTICLE
      VIII

     

    COVENANTS
      AND AGREEMENTS OF THE PARTIES

    EFFECTIVE
      PRIOR TO CLOSING

     

    The
      parties hereto covenant and agree as follows:

     

    8.1  Business
      Examinations and Physical Investigations of Purchased Assets.
      Prior
      to the Effective Time, Purchaser shall be entitled, through its employees and
      representatives, to make such investigations and examinations of the Purchased
      Assets and the Books and Records of Seller as Purchaser may request for the
      purpose of familiarizing Purchaser with the Purchased Assets. Any such
      investigations and examinations shall be conducted at reasonable times and
      under
      reasonable circumstances. No investigation by Purchaser shall, however, diminish
      or obviate in any way, or affect Purchaser’s right to rely upon, any of the
      representations, warranties, covenants or agreements of Seller contained in
      this
      Agreement.

     

    8.2  Cooperation;
      Consents.
      Prior
      to the Closing Date, each party shall cooperate with the other to the end that
      the parties shall (i) in a timely manner make all necessary filings with,
      and conduct negotiations with, all Authorities and other Persons the consent
      or
      approval of which, or a license or permit from which, is required for the
      consummation of the transactions contemplated herein and (ii) provide to
      each other party such information as the other party may reasonably request
      in
      order to enable it to prepare such filings and to conduct such negotiations.
      The
      parties shall also use their respective best efforts to expedite the review
      process and to obtain all such necessary consents, approvals, licenses and
      permits as promptly as practicable. To the extent permitted by Applicable Law,
      the parties shall request that each Authority or other Person whose review,
      consent or approval is requested treat as confidential all information which
      is
      submitted to it. Seller and Purchaser shall bear their own costs and expenses
      incurred or fees paid to Authorities to obtain any governmental approvals and
      contractual consents. Each Party shall bear its own costs and expenses
      (including fees paid to authorities) incurred to obtain such consents,
      approvals, licenses or permits.

     

    8.3  No
      Solicitation or Negotiation.
      Unless
      and until this Agreement is terminated, Seller shall not, nor shall it cause,
      suffer or permit the directors, managers, officers, employees, representatives,
      agents, investment bankers, advisors, accountants or attorneys of Seller to,
      initiate or solicit, directly or indirectly, any inquiries or the making of
      any
      proposal that constitutes or could be reasonably expected to lead to an
      acquisition of the Purchased Assets from any Person, or engage in any
      discussions or negotiations relating thereto, or accept any such acquisition
      or
      otherwise facilitate, attempt to seek or continue any of the
      foregoing.

     

    
      
         

      

      
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    ARTICLE
      IX

     

    CONDITIONS
      PRECEDENT TO THE OBLIGATION

    OF
      EACH PARTY TO CLOSE

     

    The
      obligations Purchaser to consummate the transactions contemplated herein shall
      be subject to the fulfillment, at or prior to the Closing of all of the
      conditions set forth below in this ARTICLE IX.

     

    9.1  No
      Action or Proceeding.
      The
      consummation of the transactions contemplated herein shall not violate any
      Applicable Law. Further, no legal restraint preventing the consummation of
      the
      transactions contemplated herein, or imposing material damages in respect
      thereof, shall be in effect, nor shall there be any action or proceeding pending
      or threatened by any Person which seeks any of the foregoing.

     

    9.2  Governmental
      and Other Approvals.
      All
      Required Governmental Approvals and all Required Contractual Consents shall
      have
      been obtained without the imposition of any conditions that are or would be
      materially burdensome upon the Business. All Required Governmental Approvals
      and
      Required Contractual Consents shall be in effect and all conditions and
      requirements prescribed by any of the same to be satisfied on or prior to the
      Closing Date shall have been satisfied.

     

    

     

    ARTICLE
      X  

     

    CONDITIONS
      PRECEDENT TO THE OBLIGATION

    OF
      PURCHASER TO CLOSE

     

    The
      obligations of Purchaser to consummate the transactions contemplated herein
      shall be subject to the fulfillment, at or before the Closing Date, of all
      of
      the conditions set forth below in this ARTICLE X.

     

    10.1  Representations
      and Warranties.
      The
      representations and warranties of Seller contained in this Agreement and in
      each
      other Seller Document shall have been true and correct when made and shall
      be
      true and correct in all material respects on and as of the Closing Date with
      the
      same force and effect as though made on and as of the Closing Date.

     

    10.2  Performance
      of Covenants.
      Each
      obligation of Seller to be performed by it on or before the Closing Date
      pursuant to the terms of this Agreement and each other Seller Document shall
      have been duly performed on or before the Closing Date.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    ARTICLE
      XI  

     

    CONDITIONS
      PRECEDENT TO THE OBLIGATION

    OF
      SELLER TO CLOSE

     

    The
      obligation of Seller to consummate the transactions contemplated herein shall
      be
      subject to the fulfillment, at or before the Closing Date, of all the conditions
      set forth below in this ARTICLE XI.

     

    11.1  Representations
      and Warranties.
      The
      representations and warranties of Purchaser contained in this Agreement and
      in
      each other Purchaser Document shall have been true and correct when made and
      shall be true and correct in all material respects on and as of the Closing
      Date
      with the same force and effect as though made on and as of the Closing
      Date.

     

    11.2  Performance
      of Covenants.
      Each of
      the obligations of Purchaser to be performed by it on or before the Closing
      Date
      pursuant to the terms of this Agreement and each other Purchaser Document shall
      have been duly performed in all material respects on or before the Closing
      Date.

     

    ARTICLE
      XII  

     

    COVENANTS
      AND AGREEMENTS OF THE PARTIES

    AFTER
      CLOSING

     

    12.1  Cooperation
      of Seller.
      Seller
      shall, and shall cause its employees to, cooperate with Purchaser to provide
      such assistance and documentation as may be necessary or appropriate to permit
      Purchaser to fully exploit the Purchased Assets.

     

    12.2  Delivery
      of Purchased Assets.
      Immediately after the Closing, Seller shall deliver or cause the delivery of
      all
      Tangible Personal Property, and the Books and Records as instructed by Purchaser
      at Purchaser’s cost, it being understood that the tangible Personal Property
      will be initially located in Malaysia.

     

    12.3  Consulting
      Agreement.
      Purchaser (or its designee) and each of the individuals listed on Exhibit 12.3
      shall execute and deliver a Consulting Agreement in a form acceptable to
      Purchaser on the terms set forth on the Exhibit, and Seller shall assist
      Purchaser (or its designee) with the execution and delivery of each such
      Consulting Agreement.

     

    ARTICLE
      XIII

     

    INDEMNIFICATION

     

    13.1  Indemnification
      by Seller.
      Seller
      shall indemnify, defend and hold harmless (i) Purchaser, (ii) each of
      Purchaser’s Affiliates, assigns and successors in interest to the Purchased
      Assets, and (iii) each of their respective shareholders, directors,
      officers, managers, employees, agents, attorneys and representatives, from
      and
      against any and all Losses which may be incurred or suffered by any such party
      and which may arise out of or result from:

     

    
      
         

      

      
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    (a)  provided
      Purchaser’s claim therefore is instituted by written notice within the time
      period specified in Section 13.5, any breach of any representation,
      warranty, covenant or agreement of Seller contained in this Agreement or in
      any
      other Seller Document including, without limitation, any attempt (whether or
      not
      successful) by any Person to cause or require Purchaser to pay, perform or
      discharge any debt, liability or commitment the existence of which constitutes
      a
      breach of any such representation, warranty, covenant or agreement;

     

    (b)  any
      litigation, arbitration, governmental investigation, suit, action or other
      proceeding arising prior to the Closing Date, and any liability of Seller
      arising prior to the Closing Date;

     

    (c)  any
      Tax
      Liability of Seller; or

     

    (d)  any
      and
      all actions, suits, proceedings, claims, demands, judgments, costs and expenses,
      including, without limitation, legal fees and expenses, incurred in enforcing
      this indemnity.

     

    13.2  Indemnification
      by Purchaser.
      Provided Seller’s claim therefore is instituted by written notice within the
      time period specified in Section 13.6, Purchaser shall indemnify, defend
      and hold harmless Seller from and against any Losses arising out of or due
      to a
      breach of any representation, warranty, covenant or agreement of Purchaser
      contained in this Agreement or in any Purchaser Document,
      and
      from any and all actions, suits, proceedings, claims, demands, judgments, costs
      and expenses, including, without limitation, legal fees and expenses, incurred
      in enforcing this indemnity.

     

    13.3  Notice
      to Indemnifying Party.
      Any
      party (the “Indemnified Party”) seeking indemnification pursuant to
      Sections 13.1 or 13.2, or pursuant to any other indemnification covenant
      contained in this Agreement, shall promptly give the party from whom such
      indemnification is sought (the “Indemnifying Party”) written notice of the
      matter with respect to which such indemnification is sought, which notice shall
      specify in reasonable detail, if known, the amount or an estimate of the amount
      of the liability arising therefrom and the basis of the claim. Such notice
      shall
      be a condition precedent to any liability of the Indemnifying Party for
      indemnification hereunder, but the failure of the Indemnified Party to give
      prompt notice of a claim shall not adversely affect the Indemnified Party’s
      right to indemnification hereunder unless the defense of that claim is
      materially prejudiced by such failure.

     

    
      
         

      

      
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    13.4  Third
      Party Claims.

     

    (a)  Defense
      by Indemnifying Party.
      In
      connection with any claim giving rise to indemnity hereunder resulting from
      or
      arising out of any claim or legal proceeding by a Person who is not a party
      to
      this Agreement (a “Third Party Claim”), the Indemnifying Party at its sole cost
      and expense may, upon written notice to the Indemnified Party, assume the
      defense of any such Third Party Claim (i) if it acknowledges to the
      Indemnified Party in writing its obligations to indemnify the Indemnified Party
      with respect to all elements of such Third Party Claim (subject to any
      limitations on such liability contained in this Agreement) and (ii) if it
      provides assurances, reasonably satisfactory to the Indemnified Party, that
      it
      will be financially able to satisfy such Third Party Claim in full if the same
      is decided adversely. If the Indemnifying Party assumes the defense of any
      Third
      Party Claim, it may use counsel of its choice to prosecute such defense, subject
      to the approval of such counsel by the Indemnified Party, which approval shall
      not be unreasonably withheld or delayed. The Indemnified Party shall be entitled
      to participate in (but not control) the defense of any such Third Party Claim,
      with its counsel and at its own expense. If the Indemnifying Party assumes
      the
      defense of any such Third Party Claim, the Indemnifying Party shall take all
      steps necessary to pursue the resolution thereof in a prompt and diligent
      manner. In the event that the Indemnifying Party exercises the right to
      undertake any such defense against any such Third Party Claim as provided above,
      the Indemnified Party shall cooperate with the Indemnifying Party in such
      defense and make available to the Indemnifying Party all witnesses, pertinent
      records, materials and information in the Indemnified Party’s possession or
      under the Indemnified Party’s control relating thereto as are reasonably
      required by the Indemnifying Party without cost to the Indemnifying Party.
      The
      Indemnified Party shall cooperate with the Indemnifying Party in such defense
      and make available to the Indemnifying Party all witnesses, pertinent records,
      materials and information in the Indemnified Party’s possession or under the
      Indemnified Party’s control relating thereto as are reasonably required by the
      Indemnifying Party. The Indemnifying Party shall be entitled to consent to
      a
      settlement of, or the stipulation of any judgment arising from, any such Third
      Party Claim, with the consent of the Indemnified Party, which consent shall
      not
      be unreasonably withheld or delayed; provided, however, that no such consent
      shall be required from the Indemnified Party if (i) the Indemnifying Party
      pays or causes to be paid all Losses arising out of such settlement or judgment
      concurrently with the effectiveness thereof (as well as all other Losses
      theretofore incurred by the Indemnified Party which then remain unpaid or
      unreimbursed), (ii) in the case of a settlement, the settlement is
      conditioned upon a complete release by the claimant of the Indemnified Party
      and
      (iii) such settlement or judgment does not require the encumbrance of any
      asset of the Indemnified Party or impose any restriction upon its conduct of
      business.

     

    (b)  Defense
      by Indemnified Party.
      If the
      Indemnifying Party does not assume the defense of any such Third Party Claim,
      the Indemnified Party may defend against such Third Party Claim and settle
      or
      compromise the same, after giving notice thereof to the Indemnifying Party,
      on
      such terms as the Indemnified Party may deem appropriate, and the Indemnifying
      Party shall be entitled to participate in (but not control) such defense with
      its own counsel and at its own expense. The Indemnifying Party shall cooperate
      with the Indemnified Party in such defense and make available to the Indemnified
      Party, at the Indemnifying Party’s expense, all such witnesses, records,
      materials and information in the Indemnifying Party’s possession or under the
      Indemnifying Party’s control relating thereto as are reasonably required by the
      Indemnified Party. If the Indemnifying Party thereafter seeks to question the
      manner in which the Indemnified Party defended such Third Party Claim or the
      amount or nature of any such settlement, the Indemnifying Party shall have
      the
      burden to prove by a preponderance of the evidence that the Indemnified Party
      did not defend or settle such third-party claim in a reasonably prudent manner.
      The Indemnified Party shall not settle or compromise any Third Party Claim
      for
      which it is entitled to indemnification hereunder, unless suit shall have been
      instituted against it and the Indemnifying Party shall not have assumed the
      defense of such suit after notification as provided in
      Section 13.3.

     

    13.5  Survival
      of Representations and Covenants of Seller.
      With
      the sole exception of those covenants which are to be performed by Seller after
      the Closing (which shall survive until a claim thereon is barred by the
      applicable statute of limitations (including extensions and waivers thereof)),
      each representation, warranty, covenant and agreement of Seller contained herein
      shall survive the execution and delivery of this Agreement and the Closing
      for a
      period of one year and shall thereafter terminate and expire on the first
      anniversary of the Closing Date, unless, on or before such date, Purchaser
      has
      delivered to Seller a written notice of a claim with respect to such
      representation, warranty, covenant or agreement.

     

    
      
         

      

      
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    13.6  Survival
      of Representations and Covenants of Purchaser.
      With
      the sole exception of those covenants which are to be performed by Purchaser
      after the Closing (which shall survive until a claim thereon is barred by the
      applicable statute of limitations), each representation, warranty, covenant
      and
      agreement of Purchaser contained herein shall survive the execution and delivery
      of this Agreement and the Closing for a period of one year and shall thereafter
      terminate and expire on the first anniversary of the Closing Date, unless,
      on or
      before such date, Seller has delivered to Purchaser a written notice of a claim
      with respect to such representation, warranty, covenant or
      agreement.

     

    13.7  Limitations.
      In no
      event shall the indemnification obligations of Seller exceed the fair market
      value of the Shares at the time of the claim. In addition, those obligations
      shall be subject to reduction for any payments received by an Indemnified Party
      from any insurer or other third party or the amount of any tax benefits to
      an
      Indemnified Party.

     

    ARTICLE
      XIV

     

    TERMINATION;
      REMEDIES

     

    14.1  Termination
      Without Default.
      Anything herein to the contrary notwithstanding, this Agreement and the
      transaction contemplated by this Agreement shall terminate at the close of
      business on December 15, 2006, unless extended by the mutual consent in writing
      of the parties, and, except as specified in Section 14.2, may otherwise be
      terminated before the Closing only as follows (and in no other
      manner):

     

    (a)  Mutual
      Consent.
      By the
      mutual consent in writing of the parties.

     

    (b)  Conditions
      to Purchaser’s Performance Impossible.
      By
      Purchaser upon written notice to Seller if any event occurs which would render
      impossible the satisfaction of one or more conditions to the obligations of
      Purchaser set forth in ARTICLE IX or in ARTICLE X (other than as a result
      of Purchaser's default under this Agreement).

     

    (c)  Conditions
      to Seller’s Performance Impossible.
      By
      Seller upon written notice to Purchaser if any event occurs which would render
      impossible the satisfaction of one or more conditions to the obligations of
      Seller set forth in ARTICLE IX or in ARTICLE XI (other than as a result of
      Seller's default under this Agreement).

     

    14.2  Termination
      Upon Default.
      Either
      party may terminate this Agreement by giving notice to the other on or prior
      to
      the Closing Date, without prejudice to any rights or obligations it may have,
      if
      (i) after written notice of the default and the passage of (A) ten
      (10) Days, in the case of a default which is by its nature incapable of being
      cured, or (B) thirty (30) Days, or such shorter period as may end upon the
      scheduled Closing Date, in the case of a default which by its nature is capable
      of being cured, the other party has failed in the due and timely performance
      of
      any of its covenants or agreements herein contained or there shall have been
      a
      breach of the other’s warranties or representations herein contained, and
      (ii) such failure or breach could reasonably be expected to give the
      non-defaulting party grounds not to close pursuant to ARTICLE X or ARTICLE
      XI,
      as the case may be. In any such event the party who is not guilty of the breach
      may, in addition to all of its other rights and remedies, recover all Losses
      incurred by it from the party responsible for the breach.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    14.3  Attorneys’
      Fees.
      If
      Seller or Purchaser shall bring an action against the other by reason of any
      alleged breach of any covenant, provision or condition hereof, or otherwise
      arising out of this Agreement, the unsuccessful party shall pay to the
      prevailing party all attorneys’ fees and costs actually incurred by the
      prevailing party, in addition to any other relief to which it may be entitled.
      As used in this Section 14.3 and elsewhere in this Agreement, “actual
      attorneys’ fees” or “attorneys’ fees actually incurred” means the full and
      actual cost of any legal services actually performed in connection with the
      matter for which such fees are sought calculated on the basis of the usual
      fees
      charged by the attorneys performing such services, and shall not be limited
      to
“reasonable attorneys’ fees” as that term may be defined in statutory or
      decisional authority.

     

    ARTICLE
      XV

     

    EXPENSES;
      CONFIDENTIALITY

     

    15.1  Expenses
      of Sale.
      Each
      party shall bear its own direct and indirect expenses incurred in connection
      with the negotiation and preparation of this Agreement and the consummation
      and
      performance of the transactions contemplated herein and therein.

     

    15.2  Confidentiality.
      Subject
      to any obligation to comply with (i) any Law (ii) any rule or
      regulation of any Authority or securities exchange or (iii) any subpoena or
      other legal process to make information available to the Persons entitled
      thereto, whether or not the transactions contemplated herein shall be concluded,
      all information obtained by any party about any other or any Affiliate of the
      other, and all of the terms and conditions of this Agreement, shall, until
      the
      Closing or termination of this Agreement, be kept in confidence by each party,
      and each party shall cause its shareholders, members, partners, directors,
      officers, managers, employees, agents and attorneys to hold such information
      confidential. Such confidentiality shall be maintained to the same degree as
      such party maintains its own confidential information and shall be maintained
      until such time, if any, as any such data or information either is, or becomes,
      published or a matter of public knowledge; provided, however, that the foregoing
      shall not apply to any information obtained by Purchaser through its own
      independent investigations of Seller or received by Purchaser from a source
      not
      known by Purchaser to be bound by a confidentiality agreement with, or other
      contractual, legal or fiduciary obligation of confidentiality to, Seller nor
      to
      any information obtained by Purchaser which is generally known to others engaged
      in the trade or business of Seller; and provided, further, that from and after
      the Closing, Purchaser shall be under no obligation to maintain confidential
      any
      such information concerning Seller. In the event either party becomes legally
      compelled to disclose any such information, it shall promptly provide the other
      with written notice of such requirement so that the other may seek a protective
      order or other remedy. If this Agreement shall be terminated for any reason,
      each party shall return or cause to be returned to the other all written data,
      information, files, records and copies of documents, worksheets and other
      materials obtained by such party in connection with this Agreement.

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    15.3  Publicity.
      Up to
      (and including) the Closing Date, no publicity release or announcement
      concerning this Agreement or the transactions contemplated herein shall be
      issued without advance written approval of the form and substance thereof by
      Purchaser and Seller; provided, however, that such restrictions shall not apply
      to any disclosure required by Authorities, Applicable Law or the rules of any
      securities exchange which may be applicable.

     

    ARTICLE
      XVI

     

    NOTICES

     

    16.1  Notices.
      All
      notices, requests and other communications hereunder shall be in writing and
      shall be delivered by courier or other means of personal service (including
      by
      means of a nationally recognized courier service or a professional messenger
      service), or sent by telex or telecopy, in all cases, addressed to:

     

    
      	 	
              Purchaser
                or Parent:

               

              Pro
                Elite, Inc.

              12100
                Wilshire Boulevard, Suite 800

              Los
                Angeles, California 90025

              Attention:
                Eric Ficksman

              Telecopy
                No: (310) 806-9426

               

            
	 	
              Seller:

               

            
	 	
              12100
                Wilshire Boulevard, 18th
                Floor

              Los
                Angeles, California 90025

              Attention:
                Eric Pulier

              Telecopy
                No.: (310) 820-8601

            

    

    

    All
      notices, requests and other communications shall be deemed given on the date
      of
      actual receipt or delivery as evidenced by written receipt, acknowledgement
      or
      other evidence of actual receipt or delivery to the address specified above.
      In
      case of service by telecopy, a copy of such notice shall be personally delivered
      or sent by registered or certified mail, in the manner set forth above, within
      three (3) business days thereafter. Either party hereto may from time to time
      by
      notice in writing served as set forth above designate a different address or
      a
      different or additional person to which all such notices or communications
      thereafter are to be given.

     

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    ARTICLE
      XVII

     

    MISCELLANEOUS

     

    17.1  Further
      Assurances.
      Each of
      the parties shall use its reasonable and diligent best efforts to proceed
      promptly with the transactions contemplated herein, to fulfill the conditions
      precedent for such party’s benefit or to cause the same to be fulfilled and to
      execute such further documents and other papers and perform such further acts
      as
      may be reasonably required or desirable to carry out the provisions hereof
      and
      the transactions contemplated herein.

     

    17.2  Modifications
      and Amendments; Waivers and Consents.
      At any
      time prior to the Closing Date or termination of this Agreement, Purchaser,
      on
      the one hand, and Seller on the other hand, may, by written
      agreement:

     

    (a)  extend
      the time for the performance of any of the obligations or other acts of the
      other party hereto;

     

    (b)  waive
      any
      inaccuracies in the representations and warranties made by the other party
      contained in this Agreement or any other agreement or document delivered
      pursuant to this Agreement; and

     

    (c)  waive
      compliance with any of the covenants or agreements of the other party contained
      in this Agreement. However, no such waiver shall operate as a waiver of, or
      estoppel with respect to, any subsequent or other failure. Whenever this
      Agreement requires or permits a waiver or consent by or on behalf of any party
      hereto, such waiver or consent shall be given in writing.

     

    17.3  Entire
      Agreement.
      This
      Agreement (including the exhibits hereto and Seller and Purchaser Disclosure
      Schedules) and the agreements, documents and instruments to be executed and
      delivered pursuant hereto or referred to herein are intended to embody the
      final, complete and exclusive agreement among the parties with respect to the
      purchase of the Purchased Assets and related transactions; are intended to
      supersede all prior agreements, understandings and representations written
      or
      oral, with respect thereto; and may not be contradicted by evidence of any
      such
      prior or contemporaneous agreement, understanding or representation, whether
      written or oral.

     

    17.4  Governing
      Law and Venue.
      This
      Agreement is to be governed by and construed in accordance with the laws of
      California applicable to contracts made and to be performed wholly within
      California, and without regard to the conflicts of laws principles
      thereof.

     

    17.5  Binding
      Effect.
      This
      Agreement and the rights, covenants, conditions and obligations of the
      respective parties hereto and any instrument or agreement executed pursuant
      hereto shall be binding upon the parties and their respective successors,
      assigns and legal representatives. Neither this Agreement, nor any rights or
      obligations of any party hereunder, may be assigned by a party without the
      prior
      written consent of the other party; provided, however, that prior to or
      following the Closing, this Agreement and any rights and obligations of
      Purchaser hereunder, and under any Purchaser Documents may, without the prior
      written consent of Seller, be assigned and delegated by Purchaser to any Person
      affiliated with Purchaser or pledged or hypothecated to any lender(s) of
      Purchaser or any such Affiliate, and following the Closing, this Agreement
      and
      any rights and obligations of Purchaser hereunder and under any Purchaser
      Documents may also be assigned and delegated by Purchaser, without the prior
      written consent of Seller, to any successor-in-interest of Purchaser to the
      Purchased Assets or to a substantial portion thereof; provided, however, that
      no
      delegation by Purchaser of any such obligation shall relieve Purchaser of
      liability therefor or relieve Purchaser of the obligation to deliver the
      Purchase Price at the Closing.

     

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    17.6  Counterparts.
      This
      Agreement may be executed simultaneously in any number of counterparts, each
      of
      which shall be deemed an original but all of which together shall constitute
      one
      and the same instrument. In making proof of this Agreement it shall not be
      necessary to produce or account for more than one counterpart.

     

    17.7  Section
      Headings.
      The
      section headings of this Agreement are for convenience of reference only and
      shall not be deemed to alter or affect any provision hereof.

     

    17.8  Severability.
      In the
      event that any provision or any part of any provision of this Agreement shall
      be
      void or unenforceable for any reason whatsoever, then such provision shall
      be
      stricken and of no force and effect. However, unless such stricken provision
      goes to the essence of the consideration bargained for by a party, the remaining
      provisions of this Agreement shall continue in full force and effect, and to
      the
      extent required, shall be modified to preserve their validity.

     

    17.9  No
      Third Party Rights.
      Nothing
      in this Agreement, whether express or implied, is intended to confer any rights
      or remedies under or by reason of this Agreement on any Persons other than
      the
      parties to it and their respective successors and assigns, nor is anything
      in
      this Agreement intended to relieve or discharge the obligation or liability
      of
      any third Persons to any party to this Agreement, nor shall any provision give
      any third Persons any right of subrogation or action over against any party
      to
      this Agreement.

     

    17.10  Benefit
      of Contribution Agreement.
      Seller
      shall pass on to Purchaser the benefit of the representations and warranties
      of
      Lifelogger Malaysia set forth in the Contribution Agreement to the fullest
      extent permitted thereunder.

     

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of
      the
      day and year first above written.

     

    
      	
              PARENT

               

              PRO
                ELITE, INC.

               

               

              By:___________________________

              Chief
                Executive Officer

            	
              PURCHASER

               

              REAL
                SPORT, INC.

               

               

              By:
                ____________________________ 

                    
                Name: 

                    
                Title: Chief
                Executive Officer

               

            
	 	
              SELLER

               

              LIFELOGGER
                LLC

               

               

               

              By:
                ____________________________    

               

               

               

            

    

    

    

    
      
         

      

      
        18

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