Document:

Unassociated Document

    DEVELOPMENT SERVICES
AGREEMENT

    

    This
Development Services Agreement (“Agreement”) is made this 22nd day of December,
2010, (“Effective Date”) by and between NorthStar Partners Consulting, LLC, a
Connecticut limited liability company (“Company”), and I-Web Media, Inc., a
Delaware corporation dba Heartland Bridge Capital (“I-Web”).  Each of
the Company and I-Web shall be referred to herein as a “Party” and collectively
as the “Parties.”

    

    RECITALS

    

    WHEREAS, I-Web wishes to determine the
commercialization options for an innovative new tampon technology (the
“Technology”);

    

    WHEREAS,
the Company has experience and expertise in the developing the consumer value
propositions (concept platforms) and volumetric modeling necessary to assess
commercialization options;

    

    WHEREAS,
I-Web wishes to retain the Company to determine the commercialization options
for the Technology;

    

    NOW,
THEREFORE, in consideration of the mutual promises and covenants contained
herein, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Company and I-Web, intending to
be legally bound, hereby agree as follows:

    

    AGREEMENT

    

    1.           Services

    

    Scope of
Work.  Subject to the terms and conditions of this Agreement,
the Company shall provide to I-Web: (i) the services  described in the
Statement of Work (“SOW”), appended to this Agreement as Attachment A
(“Services”); (ii) such programming, consulting, and other services related to
the Services as may be agreed upon by the Parties; and (iii) such deliverable
goods and works (“Deliverables”) as set forth in a Statement of Work, as
appended to this Agreement as Attachment
A.

    

    2.           Operations

    

    2.1           Project
Manager.  The Company shall appoint a Project Manager with
overall responsibility for Company’s performance under this
Agreement.  Subject to and in accordance with the terms and
requirements of this Agreement, the Project Manager shall:

    

    (a)   ensure
that the appropriate service level standards are met;

    (b)   meet
regularly with designated I-Web representatives (which may include independent
consultants) to review the Company’s performance, coordinate the provision of
Services to I-Web, and discuss future I-Web requirements;

    (c)   ensure
that adequate personnel of the Company are available and are provided the tools,
training, and support necessary to meet appropriate performance
requirements;

    (d)  supervise
the Company personnel to ensure that the Services are provided in accordance
with this Agreement;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (e)   modify,
in consultation with I-Web, the Services; and

    (f)   serve
as the principal interface between the Company and I-Web with respect to all
issues relating to the Services.

    

    2.2           Service
Changes.  In the event that I-Web wishes to request changes in
the Services, including additions, deletions, and rearrangements (“Changes”),
I-Web shall submit such requests to the Company in writing (for the purposes of
this Agreement the terms “writing,” “agreement in writing” or “written
agreement” will include correspondence by electronic mail).  The
Company will provide I-Web with good faith estimates of the cost to I-Web for
such Changes and will advise as to the most cost-effective and efficient means
of implementing such requested Changes.  The Company is responsible
for implementing Change requests and I-Web shall pay the appropriate charges, if
any, in accordance with the agreement of the Parties as confirmed in a written
amendment to this Agreement.

    

    2.3           Mutual
Cooperation.  Both I-Web and the Company agree to provide all
cooperation reasonably necessary to effectuate the purposes of this Agreement in
a timely and efficient manner.

    

    3.           Fees/Payments

    

    3.1           Service
Fees. The
fees for the Services shall be as follows

    

    (a)           $7,000
in cash paid within seven (7) days of the Effective Date; and

    

    (b)           a
Warrant to purchase 25,000 shares of I-Web’s common stock, restricted in
accordance with Rule 144, with an exercise price of Four Dollars ($4) per share
(and the other rights and preferences as set forth in the form of Warrant
attached hereto as Attachment C), which
shall vest in accordance with the thresholds set forth in the Fee Schedule,
attached hereto as Attachment
B.

    

    In
addition to the fees set forth above and on Attachment B, I-Web
shall reimburse the Company for actual expenses at cost, including travel,
reasonably incurred by the Company in response to requests for services and
other mutually agreed reimbursable costs.

    

    3.2.           Additional
Systems or Services.  In the event that I-Web requests the
Company to perform additional services, or requests an expansion in the scope of
Services, the Company shall submit a proposal in writing to I-Web, specifying
the scope of the proposed work and the fees to be charged.  Upon
I-Web’s written agreement to the work specifications and charges, the Company
shall perform the work as directed, all other terms and conditions of this
Agreement to apply.

    

    4.           Updates
and Taxes

    

    4.1           Weekly
Updates.  The Company will provide I-Web with weekly updates
regarding the Services and the Company’s progress.

    

    4.2           Taxes. All
applicable federal, state, and/or local taxes for the fees paid under this
Agreement will be the responsibility of the Company.  The Company
agrees to pay and remit all such applicable taxes to the respective taxing
authorities.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    5.           Term and
Renewal.  The term of this Agreement shall be for a period of
one year, commencing on the Effective Date and expiring one year
later.  This Agreement shall not be renewed or extended unless the
Parties agree in writing.

    

    6.           Termination

    

    6.1           This
Agreement may be terminated prior to completion by: (a) the written agreement of
both Parties; (b) by either Party in the event that other Party shall be in
default of its material obligations under this Agreement and shall fail to
remedy such default within fifteen (15) days after receipt of written notice
thereof, in which case, this Agreement shall terminate upon expiration of the
fifteen (15) day period; (c) immediately, by either Party if the other Party
ceases to do business or is dissolved or becomes bankrupt or insolvent or makes
any assignment for the benefit of its creditors or if a receiver is appointed to
direct its business; or (d) by I-Web at any time for its convenience upon
fifteen (15) days prior written notice, in which case, I-Web’s sole liability
shall be to pay the Company for services actually rendered and reasonable
expenses incurred as of the effective date of termination.  All remedies
shall be cumulative.

    

    6.2                 In
the event of termination of this Agreement for any reason whatsoever, the
Company shall deliver to I-Web all information and/or materials gathered by the
Company through the provision of its development services under this
Agreement to the point of termination.

    

    7.           Warranties
and Representations of the Company

    

    The
Company represents and warranties the following:

    

    7.1           Corporate Good
Standing.  The Company is a limited liability company, duly
organized, validly existing, and in good standing under the laws of Connecticut,
and has all requisite corporate power and authority to carry on its business as
now conducted by it and to own and operate its assets as now owned and operated
by it.

    

    7.2           Authority;
Enforceability.

    

    (a)           The
Company has the right, power, and authority to execute and deliver this
Agreement, and to perform its obligations hereunder.  This Agreement
constitutes (or will, when executed and delivered as contemplated herein,
constitute) the legally binding obligations of the Company, enforceable in
accordance with their respective terms.

    

    (b)           The
execution, delivery, and performance of this Agreement by the Company, and the
consummation of the transactions contemplated hereby, do not and will not: (i)
require the consent, waiver, approval, license, or other authorization of any
person, except as provided for herein; (ii) violate any of provision of
applicable law; (iii) contravene, conflict with, or result in a violation of any
provision of the Company’s organizational documents; (iv) conflict with, require
a consent or waiver under, result in the termination of any provisions of,
constitute a default under, accelerate any obligations arising under, trigger
any payment under, result in the creation of any lien pursuant to, or otherwise
adversely affect, any contract to which the Company is a party or by which any
of its assets are bound, in each such case whether with or without the giving of
notice, the passage of time, or both.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (c)           All
requisite corporate action has been taken by the Company to authorize and
approve the execution and delivery of this Agreement, the performance by the
Company of its obligations hereunder, and of all other acts necessary or
appropriate for the consummation of the transactions contemplated by this
Agreement.

     

    7.3           Professional
Services.  The Services to be performed by the Company
hereunder shall be performed in a timely and professional manner by qualified
personnel familiar with the Services.  All Services and Deliverables shall
meet or exceed industry standards for such Services and
Deliverables.

    

    7.4           The
performance by the Company of its obligations hereunder shall at all times be in
compliance with all applicable laws, rules, and regulations.

    

    7.5           The
Company is authorized to enter into and perform this Agreement.

    

    7.6           The
Company represents that it: (i) is acquiring the Warrant solely for its own
account and beneficial interest for investment and not for sale or with a view
to distribution of the Warrant or any part thereof; (ii) has no present
intention of selling (in connection with a distribution or otherwise), granting
any participation in, or otherwise distributing the same; and (iii) does not
presently have reason to anticipate a change in such intention.

     

    7.7           The
investment in the Warrant involves a high degree of risk, and represents that it
is able, without materially impairing its financial condition, to hold the
Warrant for an indefinite period of time and to suffer a complete loss of its
investment.

     

    7.8           The
Company further acknowledges that the Warrant is a restricted security under
Rule 144 of the Act (as defined below), and, therefore, when issued by I-Web to
the Company will contain a restrictive legend substantially similar to the
following:

     

    THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ACT”).  THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR
HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE
SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY,
THAT SUCH REGISTRATION IS NOT REQUIRED.

     

    Without
in any way limiting the representations set forth above, the Company further
agrees not to make any disposition of all or any portion of the Warrant unless
and until:

     

    (i)           There
is then in effect a Registration Statement under the Act covering such proposed
disposition and such disposition is made in accordance with such Registration
Statement; or

     

    (ii)           The
Company shall have notified I-Web of the proposed disposition and shall have
furnished I-Web with a detailed statement of the circumstances surrounding the
proposed disposition, and if reasonably requested by I-Web, the Company shall
have furnished I-Web with an opinion of counsel, reasonably satisfactory to
I-Web, that such disposition will not require registration under the Act or any
applicable state securities laws.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Notwithstanding
the provisions of subparagraphs (i) and (ii) above, no such registration
statement or opinion of counsel shall be necessary for a transfer by the Company
to a partner (or retired partner) of the Company, or transfers by gift, will, or
intestate succession to any spouse or lineal descendants or ancestors, if all
transferees agree in writing to be subject to the terms hereof (including the
Registration Rights Agreement) to the same extent as if they were the Company
hereunder.

     

    8.           Representation
and Warranties of I-Web

    

    I-Web represents and warranties the
following:

    

    8.1           Corporate Good
Standing.  I-Web is a corporation, duly organized, validly
existing, and in good standing under the laws of Delaware, and has all requisite
corporate power and authority to carry on its business as now conducted by it
and to own and operate its assets as now owned and operated by it.

    

    8.2           Authority;
Enforceability.

    

    (a)           I-Web
has the right, power, and authority to execute and deliver this Agreement, and
to perform its obligations hereunder.  This Agreement constitutes (or
will, when executed and delivered as contemplated herein, constitute) the
legally binding obligations of I-Web, enforceable in accordance with their
respective terms.

    

    (b)           The
execution, delivery, and performance of this Agreement by I-Web, and the
consummation of the transactions contemplated hereby, do not and will not: (i)
require the consent, waiver, approval, license, or other authorization of any
person, except as provided for herein; (ii) violate any of provision of
applicable law; (iii) contravene, conflict with, or result in a violation of any
provision of I-Web’s organizational documents; (iv) conflict with, require a
consent or waiver under, result in the termination of any provisions of,
constitute a default under, accelerate any obligations arising under, trigger
any payment under, result in the creation of any lien pursuant to, or otherwise
adversely affect, any contract to which I-Web is a party or by which any of its
assets are bound, in each such case whether with or without the giving of
notice, the passage of time, or both.

    

    (c)           All
requisite corporate action has been taken by I-Web to authorize and approve the
execution and delivery of this Agreement, the performance by I-Web of its
obligations hereunder, and of all other acts necessary or appropriate for the
consummation of the transactions contemplated by this Agreement.

     

    8.3           I-Web
is the owner of the Technology and as such has the authority to authorize the
Company to perform the Services.

    

    9.           Confidential
Information

    

    9.1           The
Company shall keep in strictest confidence and shall not, without the prior
written consent of I-Web, disclose to any third party, or use for any purpose
other than in the performance of this Agreement, any information regarding the
business affairs of I-Web or I-Web’s clients that the Company may acquire or
develop in connection with its performance of this
Agreement.  Notwithstanding the foregoing, the Company shall have no
obligation of confidentiality with respect to information which: (a) is or
becomes public domain, through no fault of the Company; (b) The Company can
establish was in its possession at the time of disclosure hereunder; or (c) was
lawfully received from a third party that had a right to disclose such
information.  Upon demand or termination of this Agreement, for any
reason whatsoever, the Company shall deliver to I-Web all materials related to
I-Web or I-Web’s clients in the Company’s possession.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    9.2           The
Company acknowledges that unauthorized disclosure or use of any I-Web
confidential material may result in irreparable harm to I-Web and the Company
agrees that I-Web may, in addition to any other remedies available to it, seek
and obtain injunctive relief against the breach or threatened breach of the
Company’s confidentiality obligations hereunder.

    

    10.           Ownership

    

    10.1           I-Web
shall exclusively own and have all right, title and interest (including but not
limited to, all copyrights, patents, trademarks, and trade secrets) in and to
all information related to I-Web and the Technology derived from the performance
of the Services, related documentation, and any other Deliverables prepared in
the performance of this Agreement and any inventions conceived or created by
Company in the performance of this Agreement (the “Results”).  The
Company agrees not to disclose or reproduce the Results, except as may be
expressly agreed by I-Web in writing.  The Company agrees to execute
such documents as may be necessary to vest sole ownership of the Results in
I-Web.

    

    10.2           To
the extent that the Deliverables contain the pre-existing intellectual property
of Company or a third party, the Company hereby warrants that it owns or has
legal rights to such intellectual property with full right to license same to
I-Web, and hereby grants to I-Web and its affiliates a paid-up non-exclusive,
worldwide license to use with rights to sublicense and display such intellectual
property in connection with the use of the Results created by the Services and
the Deliverables.

    

    11.          Assignment. The Company may not
delegate its duties, assign, or otherwise transfer its rights or obligations
under this Agreement, in whole or in part, without the prior written consent of
I-Web.  Any attempted assignment without I-Web’s prior written consent
shall be void.

    

    12.          Insurance
Requirements.      The Company will provide
appropriate insurance coverage for the performance of the Services.

    

    13.          Applicable Law. This Agreement
shall be governed by and interpreted in accordance with the laws of the
State of Texas without effect of the conflicts of law rules.  The
Company and I-Web hereby consent to the exclusive jurisdiction in the state and
federal courts sitting in and for the County of Fort Bend, State of
Texas.

    

    14.          Independent
Contractor.  In performing this Agreement, the Company and
I-Web shall operate as and have the status of independent contractors and
neither shall act as an agent or employee of the other.  Neither Party
shall have any power or authority to bind or obligate the other Party in any
manner to any third party.

    

    15.           Notices.  Any
notice, request, demand, or other communication given pursuant to the terms of
this Agreement shall be deemed given upon delivery, and may only be delivered or
sent via hand delivery, facsimile, electronic mail (with confirmation of
receipt), or by overnight courier, correctly addressed to the addresses of the
parties indicated below or at such other address as such Party shall in writing
have advised the other Party.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                If
      to I-Web:

              	
                James
      F. Groelinger

              
	 
      	
                Chief
      Executive Officer

              
	 
      	
                I-Web
      Media, Inc.

              
	 
      	
                1
      International Boulevard, Suite 400

              
	 
      	
                Mahwah,
      NJ  07495

              
	 
      	
                E-mail:
      jgroelinger@hbcapital.com

              
	 
      	
                Fax:  (518)
      252-3917

              

      

    

    

    
      
        	
                With
      a copy to:

              	
                Craig
      V. Butler, Esq.

              
	 
      	
                The
      Lebrecht Group, APLC

              
	 
      	
                9900
      Research Drive

              
	 
      	
                Irvine,
      CA  92628

              
	 
      	
                Facsimile:
      (949) 635-1244

              
	 
      	
                E-mail:  cbutler@thelebrechtgroup.com

              

      

    

    

    
      
        	
                If
      to the Company:

              	
                NorthStar
      Partners Consulting, LLC

              
	 
      	
                10
      Saugatuck Avenue

              
	 
      	
                Westport,
      CT  06880

              
	 
      	
                Attn.:  John
      Linderman

              
	 
      	
                Fax:  (203)
      226-9029

              
	 
      	
                E-mail:  jlinderman@northstarpartnersinc.com

              

      

    

    

    16.          Severability. If any provision
of this Agreement shall be held illegal, unenforceable, or in conflict with any
law, the validity of the remaining portions or provisions hereof shall not be
affected thereby, and the offending provision shall be given effect to the
greatest extent allowed by law.

    

    17.          Waiver.  The failure
of either party to exercise any right provided for herein or to enforce any
breach of this Agreement shall not be deemed to be a waiver of any right
hereunder or a waiver of any rights that arise from a subsequent breach of this
Agreement.

    

    18.          Entire
Agreement. The
Parties agree that this
Agreement, including any referenced exhibits and attachments, is the entire,
complete, and exclusive statement of agreement
and supersedes all proposals, understandings, representations, conditions,
warranties, covenants, and all other communications between the
Parties, oral or written,
relating to the subject matter hereof.  This Agreement may only be amended
or modified pursuant to a written instrument signed by a duly authorized
representative of each Party.  This Agreement may be executed in
multiple counterparts, and by electronic means, each counterpart constituting an
original.

    

    
      
        
          	
                  “Company”

                	 
      	
                  “I-Web”

                
	 
      	 
      	 
      
	
                  NorthStar
      Partners Consulting, LLC

                	 
      	
                  I-Web
      Media, Inc.,

                
	
                  a
      Connecticut limited liability company

                	 
      	
                  a
      Delaware corporation

                
	 
      	 
      	 
      
	
                  /s/ John Linderman

                	 
      	
                  /s/ James F. Groelinger

                
	
                  By:

                	
                  John
      Linderman

                	 
      	
                  By:

                	
                  James
      F. Groelinger

                
	
                  Its:

                	
                  Managing
      Director

                	 
      	
                  Its:

                	
                  Chief
      Executive Officer

                

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ATTACHMENT
A

    

    STATEMENT
OF WORK

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  I-Web
      Media, Inc. dba

                  Heartland
      Bridge Capital

                
	
                   
      

                
	
                  Concept
      Validation

                  Statement
      of Work

                   

                  December
      22, 2010

                   

                

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      Contents 

      
        

      

    

    

    The
Statement of Work consists of the following sections:

    

    
      
        	
                I.

              	
                      
      Background

              

      

    

    
      
        
          	
                  II.

                	
                        
      Project Objectives

                

        

      

    

    
      
        	
                III.

              	
                      
      Recommended Overall
Solution/Approach

              

      

    

    
      
        	
                IV.

              	
                      
      Recommended
Approach/Deliverables

              

      

    

    
      
        	
                V.

              	
                      
      Timing

              

      

    

    
      
        	
                VI.

              	
                      
      Staffing

              

      

    

    

    
      
        
          I. 
Background 

          
            

          

        

      

    

    

    This
Statement of Work is being issued in conjunction with that certain Development
Services Agreement by and between I-Web Media, Inc., dba Heartland Bridge
Capital (the “Company”) and NorthStar Partners Consulting, Inc.
(“NSP”).  The Company’s management  is considering the
commercialization options for an innovative new tampon technology targeted to
menstruating women between the ages of 15 and 49. Initial patent filings on the
new technology have been processed and early product prototype design has been
completed. This technology represents an innovative, new tampon product
application for target consumers that has the potential to deliver several
important and contemporary advantages relative to the current competitive
product offerings.

    

    The
Company is now poised to move into an early commercialization phase for this new
technology. The primary models involve alternate business development options
with leading consumer packaged goods companies (CPG) that currently (or
potentially) compete within the feminine protection category.  While
it is premature to assume that the final commercialization path will involve a
license or sale of the Company technology, it is viewed currently as the most
favorable scenario based on the significant marketing and logistical hurdles
required to launch new technology and effectively compete within this product
category.

    

    A core
requirement to assess the commercial viability of this new technology involves
soliciting consumer purchase and usage reaction to the proposition. Based on
favorable consumer interest, the research will enable for development of
volumetric scenarios that build from core assumptions on trial, repeat and
price/value. Assuming the volumetric modeling defines a business potential that
meets the target CPG business development hurdle rates, the Company is
interested in engaging potential CPG target companies in relationship and
business development discussions.

    

    NorthStar
Capabilities:

    

    NSP is
ideally positioned to assist the Company in developing the required consumer
value proposition (concept platforms) and volumetric modeling to assess
commercial option potential. NSP consultants have extensive experience in new
product innovation (specifically within the feminine protection category),
business modeling and business development. NSP has worked successfully with
several start-up companies seeking to bring new technologies to the retail and
healthcare professional channels via strategic partnerships with large CPG
companies. Notably, our prior experience in helping find a successful
commercialization partner for the Myself® product provides us a solid
relationship platform to expand the new technology opportunity. In summary, we
have significant direct category and consumer insights experience combined with
contemporary access to the leading CPG companies that are most likely to be
interested in the technology to ensure a rapid product feasibility
assessment.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Project
Scope:

    

    To
initially engage in this business opportunity, the Company requires an
assessment of the market opportunity (based on consumer concept exposure) and
competitive landscape. NSP will combine information from a market and
competitive assessment with pro forma business modeling based on an initial set
of business assumptions and operating strategies developed jointly with the
Company management team.

    

    After the
concept validation and pro forma modeling has been completed NSP will proceed to
establish a comprehensive business development strategy including the
representation of the technology with mutually agreed CPG target companies. This
second phase of activity will span the entire early stream business
representation responsibilities (e.g. preliminary interest solicitation, process
approval facilitation, financial milestone agreements and final business
development agreement negotiation).

    

    The
commercialization plans and volumetric modeling will be based on detailed
assessment of available market information and customized consumer
research:

    

    
      	
               
      

            	
              ·

            	
              Consumer
      insight development to be used for developing concept
      platforms.  (This activity may require access to syndicated
      databases [IRI or AC Nielsen] or other relevant category/consumer
      syndicated research.);

            

    

    
      	
               
      

            	
              ·

            	
              Brand
      positioning development to optimize the product positioning in the context
      of the competitive market as well as define important product features and
      offerings;

            

    

    
      	
               
      

            	
              ·

            	
              Retail
      pricing relative to competitive
offerings.

            

    

    

    This
proposal identifies the approach and consulting costs associated with concept
potential for the new technology.

    

    II.   Project
Objectives

    
      

    

     

    Overall

    

    
      	
              n

            	
              To
      validate the potential consumer sales and market share potential of the
      new feminine protection technology.

            

    

    

    Specific

    

    
      	
              n

            	
              To
      develop a range of concept platforms (anticipate two distinct platforms)
      that can be used in consumer research to quantify the volumetric
      potential.

            

    

    

    
      	
              n

            	
              To
      design, field and report results from a quantitative consumer research
      study using nationally recognized standards for research protocol that are
      consistent with leading CPG company
standards.

            

    

    

    
      	
              n

            	
              To
      define the volumetric potential for the winning concept platform(s)
      utilizing proven business forecasting techniques that leverage the
      consumer research insights.

            

    

    

    
      	
              n

            	
              To
      develop an initial commercialization plan of target companies and
      potential value proposition alignment scenarios customized to each target
      company.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      III.           Recommended
Overall Solution/Approach

    

    

    NSP’s
recommended approach consists of three stages:  Stage 1 focuses on
development of alternate concept platforms; Stage 2 executes the consumer
research to validate business potential; Stage 3 provides the early
commercialization plan to begin target CPG company interest
solicitation.

    
       

    

    
      IV.           
Recommended Approach/Deliverables

    

     

    What
follows is a summary of the recommended process steps and deliverables within
each project stage.

    

    Stage
1:  Concept Development

    

    NSP will
review any existing knowledge estate provided by the Company related to
understanding the current and future evolution of the product technology. This
foundation will be complimented by review of consumer and retail category
insights that can guide development of alternate concept development platforms.
NSP will leverage these insights into compelling concept platforms that provide
a relevant description of the product proposition and key benefits for the end
use consumer.

    

    Stage
2:  Research
Implementation

    

    Stage 2
provides for quantitative consumer testing of alternate concept platforms to
assess overall business potential. Research is designed to provide nationally
representative consumer feedback to each concept platform.  Feedback
will include overall purchase interest, likes and dislikes, key points of
concept take-away, overall product value, and level of differentiation.
Additionally research will be conducted with a predefined range of CPG brand
names to assess the optimal brand fit.

    

    This
research will be executed by a nationally recognized research provider
(FamilyTime) under the direct management of NSP. FamilyTime has conducted over
1000 consumer concept test over the past 5 years working with Fortune 50 CPG
companies to small start-up operations.

    

    The basic
research specifications define a minimum sample size of 300 consumers for each
concept. Consumers will only be exposed to a single concept. Screening and
qualification of research participants will be performed to ensure a balanced
geographic and demographic sample. Qualified participants will be screened to
represent core feminine protection needs (women 18-49; with an over quota of
women 25-35) Respondents will represent all forms of feminine protection
products with an over quota on tampon consumers.

    

    Qualified
respondents will be invited to take the survey by email with the concept test
delivered via an interactive (web based) survey. NSP will work directly with the
research provider to ensure compliance to standards and development of the
questionnaire.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    STAGE
3:  Commercialization Plan

    

    Stage 3
will provide management with a detailed assessment of volume potential for the
winning concept platform(s). NSP will integrate research results into a proven
business model to quantify sales potential.

    

    Based on
management agreement to business potential and assuming predefined hurdle rates
area achieved, NSP will develop an initial commercialization plan. This plan
will identify a prioritized list of target CPG companies along with an initial
articulation of the value proposition alignment, supported by the consumer
research insights.

    

    At the
conclusion of this initial engagement the Company will be in a position to
prioritize business development initiatives and investments required to bring
the technology to market. With this important hurdle completed, NSP will
immediately transition efforts to building relationships with target companies
and engage in the initial solicitation processes. It is understood consulting
fees and business costs associated with these NSP activities will be defined
under separate cover.

    
       

      V.    Timing 

      
        

      

    

    

    Assuming
project approval by December 27, 2010, the preliminary milestone dates are as
follows:

    

    
      
        
          
            	
                    Activity

                  	 	
                    Milestone Date

                  
	
                    Project
      Kick-Off/Orientation (via conference call)

                  	 	
                    w/o
      December 27, 2010

                  
	
                    Research
      design and plan

                  	 	
                    w/o
      January 3, 2011

                  
	
                    Research
      implementation (field complete)

                  	 	
                    w/o
      January 24, 2011

                  
	
                    Data
      tabulation, Report generation, Business modeling

                  	 	
                    w/o
      January 31, 2011

                  
	
                    Research
      report presentation

                  	 	
                    w/o
      February 7, 2011

                  
	
                    Commercialization
      plan finalization

                  	 	
                    w/o
      February 14, 2011

                  

          

        

      

    

     

    
      VI.   Staffing

      
        
          

        

      

    

     

    Staffing
for this initiative includes:

    

    
      
        
          	
                  NorthStar Associate

                	 	
                  Title

                
	
                  Jamie
      Barickman

                	 	
                  Managing
      Director

                
	
                  John
      Linderman

                	 	
                  Managing
      Director, Project Lead

                
	
                  Susan
      O’ Donnell

                	 	
                  Project
      Administration

                

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ATTACHMENT
B

    

    FEE
SCHEDULE

    

    Assuming
project approval by December 27, 2010, the preliminary milestone dates and
applicable fees are as follows:

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Activity Benchmark

                            	 	
                              Milestone Date

                            	 	
                              Warrant Vesting (1)

                            	 
	
                              Project
      Kick-Off/Orientation (via conference call)

                            	 	
                              w/o
      December 27, 2010

                            	 	 	50	%
	
                              Research
      design and plan

                            	 	
                              w/o
      January 3, 2011

                            	 	 	0	%
	
                              Research
      implementation (field complete)

                            	 	
                              w/o
      January 24, 2011

                            	 	 	0	%
	
                              Data
      tabulation, Report generation, Business modeling

                            	 	
                              w/o
      January 31, 2011

                            	 	 	0	%
	
                              Research
      report presentation

                            	 	
                              w/o
      February 7, 2011

                            	 	 	0	%
	
                              Commercialization
      plan finalization

                            	 	
                              w/o
      February 14, 2011

                            	 	 	50	%

                    

                  

                

              

            

          

        

      

    

    

    

    (1)           Pursuant
to Section 3, the Warrants will vest 50% up front and 50% upon completion of the
commercialization plan finalization.

    

    When
completed the Commercialization Plan will provide I-Web’s management with a
detailed assessment of volume potential for the winning concept
platform(s).  The Company will integrate research results into a
proven business model to quantify sales potential.

    

    Based on I-Web’s agreement to business
potential and assuming predefined hurdle rates area achieved, the Company will
develop an initial commercialization plan. This plan will identify a prioritized
list of target CPG companies along with an initial articulation of the value
proposition alignment, supported by consumer research insights.

    

    At the conclusion of this initial
engagement I-Web will be in a position to prioritize business development
initiatives and investments required to bring the technology to
market.  With this important hurdle completed, the Company will
immediately transition efforts to building relationships with target companies
and engage in the initial solicitation processes.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ATTACHMENT
C

    

    FORM
OF WARRANTI-WEB
MEDIA, INC.

    

    THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (“THE ACT”), OR THE SECURITIES LAWS OF ANY
STATE, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED, OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT AND ANY APPLICABLE STATE LAWS, (ii) TO THE EXTENT APPLICABLE, RULE
144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION
OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE
REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM
REGISTRATION UNDER THE ACT AND APPLICABLE STATE LAW IS AVAILABLE.

    

    IWBM No.
[__]

    

    STOCK
PURCHASE WARRANT

    

    THIS IS
TO CERTIFY that, for value received, NorthStar Partners Consulting, LLC, a
Connecticut limited liability company, or its assigns (the “Holder”) is
entitled, subject to the terms and conditions set forth herein, to purchase from
I-Web Media, Inc., a Delaware corporation (the “Company”) up to Twenty Five
(25,000) fully paid and nonassessable shares of common stock of the Company (the
“Warrant Securities”) at $4.00 per share, as adjusted under Section 3 (the
“Exercise Price”), upon payment by cashier’s check or wire transfer of the
Purchase Price (as defined below) for such shares of the Common Stock to the
Company at the Company’s offices.

    

    1.           Exercisability.
This Warrant vests in accordance with Attachment A of that
certain Development Services Agreement by and between the Holder and the Company
dated of even date hereof, and the Holder may elect exercise any portion of this
Warrant that has vested, or any portion thereof at any time, or from time to
time, between the applicable vesting date and 5:00 p.m. Eastern Standard Time on
December 31, 2015, by presentation and surrender hereof to the Company of a
notice of election to purchase duly executed and accompanied by payment by check
or wire transfer of the Purchase Price, which is determined by multiplying the
number of shares for which this Warrant is being exercised by the Exercise
Price, both as may be adjusted from time to time in accordance with the
provisions of this Warrant.  The Warrant may not be exercised into any
of the Warrant Securities that have not vested, until that portion of this
Warrant has vested, or from time to time thereafter.

    

    2.           Manner of
Exercise.  In case of the purchase of less than all of the
Warrant Securities, the Company shall cancel this Warrant upon the surrender
hereof and shall execute and deliver a new warrant of like tenor for the balance
of the Warrant Securities.  Upon the exercise of this Warrant, the
issuance of certificates for securities, properties, or rights underlying this
Warrant shall be made forthwith (and in any event within three (3) business days
thereafter) without charge to the Holder including, without limitation, any tax
that may be payable in respect of the issuance thereof: provided, however, that
the Company shall not be required to pay any tax in respect of income or capital
gain of the Holder.

    
      
         

      

      
        Page 1 of
6

        
          

        

      

      
         

      

    

    

    If and to
the extent this Warrant is exercised, in whole or in part, the Holder shall be
entitled to receive a certificate or certificates representing the Warrant
Securities so purchased, upon presentation and surrender to the Company of the
form of election to purchase attached hereto duly executed, and accompanied by
payment of the Purchase Price.

    

    3.           Adjustment in
Number of Shares.

    

    (A)           Adjustment for
Reclassifications.  In case at any time or from time to time
after the issue date the holders of the Common Stock of the Company (or any
shares of stock or other securities at the time receivable upon the exercise of
this Warrant) shall have received, or, on or after the record date fixed for the
determination of eligible stockholders, shall have become entitled to receive,
without payment therefore, additional stock or other securities or property
(including cash) by way of stock split, spin-off, reclassification, combination
of shares, or similar corporate rearrangement (exclusive of any stock dividend
of its or any subsidiary’s capital stock), then and in each such case the Holder
of this Warrant, upon the exercise hereof as provided in Section 1, shall be
entitled to receive the amount of stock and other securities and property which
such Holder would hold on the date of such exercise if on the issue date he had
been the holder of record of the number of shares of Common Stock of the Company
called for on the face of this Warrant and had thereafter, during the period
from the issue date, to and including the date of such exercise, retained such
shares and/or all other or additional stock and other securities and property
receivable by him as aforesaid during such period, giving effect to all
adjustments called for during such period.  In the event of any such
adjustment, the Exercise Price shall be adjusted proportionally.

    

    (B)           Adjustment for
Reorganization, Consolidation, Merger.  In case of any
reorganization of the Company (or any other corporation the stock or other
securities of which are at the time receivable on the exercise of this Warrant)
after the issue date, or in case, after such date, the Company (or any such
other corporation) shall consolidate with or merge into another corporation or
convey all or substantially all of its assets to another corporation, then and
in each such case the Holder of this Warrant, upon the exercise hereof as
provided in Section 1 at any time after the consummation of such reorganization,
consolidation, merger, or conveyance, shall be entitled to receive, in lieu of
the stock or other securities or property to which such Holder would be entitled
had the Holder exercised this Warrant immediately prior thereto, all subject to
further adjustment as provided herein; in each such case, the terms of this
Warrant shall be applicable to the shares of stock or other securities or
property receivable upon the exercise of this Warrant after such
consummation.

    
      
         

      

      
        Page 2 of
6

        
          

        

      

      
         

      

    

    

    4.           No Requirement to
Exercise.  Nothing contained in this Warrant shall be construed
as requiring the Holder to exercise this Warrant prior to or in connection with
the effectiveness of a registration statement.

    

    5.           No Stockholder
Rights.  Unless and until this Warrant is exercised, this
Warrant shall not entitle the Holder hereof to any voting rights or other rights
as a stockholder of the Company, or to any other rights whatsoever except the
rights herein expressed, and, no dividends shall be payable or accrue in respect
of this Warrant.

    

    6.           Exchange.  This
Warrant is exchangeable upon the surrender hereof by the Holder to the Company
for new warrants of like tenor representing in the aggregate the right to
purchase the number of Warrant Securities purchasable hereunder, each of such
new warrants to represent the right to purchase such number of Warrant
Securities as shall be designated by the Holder at the time of such
surrender.

    

    Upon
receipt by the Company of evidence reasonably satisfactory to it of the loss,
theft, destruction, or mutilation of this Warrant, and, in case of loss, theft,
or destruction, of indemnity or security reasonably satisfactory to it and
reimbursement to the company of all reasonable expenses incidental thereto, and
upon surrender and cancellation hereof, if mutilated, the Company will make and
deliver a new warrant of like tenor and amount, in lieu hereof.

    

    7.           Elimination of
Fractional Interests.  The Company shall not be required to
issue certificates representing fractions of securities upon the exercise of
this Warrant, nor shall it be required to issue scrip or pay cash in lieu of
fractional interests.  All fractional interests shall be eliminated by
rounding any fraction up to the nearest whole number of securities, properties,
or rights receivable upon exercise of this Warrant.

    

    8.           Reservation of
Securities.  The Company shall at all times reserve and keep
available out of its authorized shares of Common Stock or other securities,
solely for the purpose of issuance upon the exercise of this Warrant, such
number of shares of Common Stock or other securities, properties, or rights as
shall be issuable upon the exercise hereof.  The Company covenants and
agrees that, upon exercise of this Warrant and payment of the Purchase Price,
all shares of Common Stock and other securities issuable upon such exercise
shall be duly and validly issued, fully paid, non-assessable, and not subject to
the preemptive rights of any stockholder.

    

    9.           Notices to
Holder.  If at any time prior to the expiration of this Warrant
or its exercise, any of the following events shall occur:

    

    (a)           the
Company shall take a record of the holders of any class of its securities for
the purpose of entitling them to receive a dividend or distribution payable
otherwise than in cash, or a cash dividend or distribution payable otherwise
than out of current or retained earnings, as indicated by the accounting
treatment of such dividend or distribution on the books of the Company;
or

    
      
         

      

      
        Page 3 of
6

        
          

        

      

      
         

      

    

    

    (b)           the
Company shall offer to all the holders of a class of its securities any
additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option or
warrant to subscribe therefor; or

    

    (c)           a
dissolution, liquidation, or winding up of the Company (other than in connection
with a consolidation or merger) or a sale of all or substantially all of its
property, assets and business as an entirety shall be proposed.

    

    then, in
any one or more of said events, the Company shall give written notice of such
event to the Holder at least fifteen (15) days prior to the date fixed as a
record date or the date of closing the transfer books for the determination of
the stockholder entitled to such dividend, distribution, convertible or
exchangeable securities or subscription rights, or entitled to vote on such
proposed dissolution, liquidation, winding up, or sale.  Such notice
shall specify such record date or the date of closing the transfer books, as the
case may be.

    

    10.           Transferability.  This
Warrant may be transferred or assigned by the Holder only upon written consent
by the Company, which consent shall not be unreasonably withheld.

    

    11.           Informational
Requirements.  The Company will transmit to the Holder such
information, documents, and reports as are generally distributed to stockholders
of the Company concurrently with the distribution thereof to such
stockholders.

    

    12.           Notice.  Notices
to be given to the Company or the Holder shall be deemed to have been
sufficiently given if delivered personally or sent by overnight courier or
messenger, or by facsimile transmission.  Notices shall be deemed to
have been received on the date of personal delivery or facsimile
transmission.  The address of the Company and of the Holder shall be
as set forth in the Company’s books and records.

    

    13.           Consent to
Jurisdiction and Service.  The Company consents to the
jurisdiction of any court of the State of Texas, and of any federal court
located in Texas, in any action or proceeding arising out of or in connection
with this Warrant.  The Company waives personal service of any
summons, complaint, or other process in connection with any such action or
proceeding and agrees that service thereof may be made at the location provided
in Section 13 hereof, or, in the alternative, in any other form or manner
permitted by law.  The Holder and Company agree that Fort Bend County,
Texas shall be deemed proper venue.

    
      
         

      

      
        Page 4 of
6

        
          

        

      

      
         

      

    

    

    14.           Successors.  All
the covenants and provisions of this Warrant shall be binding upon and inure to
the benefit of the Company, the Holder, and their respective legal
representatives, successors, and assigns.

    

    15.           Attorneys’
Fees.  In the event the Holder hereof shall refer this Warrant
to an attorney to enforce the terms hereof, the Company agrees to pay all the
costs and expenses incurred in attempting or effecting collection hereunder,
including reasonable attorney's fees, whether or not suit is
instituted.

    

    16.           Governing
Law.  THIS WARRANT SHALL BE GOVERNED, CONSTRUED, AND
INTERPRETED UNDER THE LAWS OF THE STATE OF TEXAS, WITHOUT GIVING EFFECT TO THE
RULES GOVERNING CONFLICTS OF LAW.

    

    IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by the
signature of its Chief Executive Officer and to be delivered in the Township of
Mahwah, New Jersey.

    

    
      
        
          	
                  Dated:  December
      22, 2010

                	
                  I-WEB
      MEDIA, INC.,

                
	 
      	
                  a
      Delaware corporation

                
	 
      	 
      
	 
      	 
      
	 
      	
                  /s/ James F. Groelinger

                
	 
      	
                  By:

                	
                  James
      F. Groelinger

                
	 
      	
                  Its:

                	
                  Chief
      Executive Officer

                

        

      

    

     

    
      
         

      

      
        Page 5 of
6

        
          

        

      

      
         

      

    

    [FORM OF
ELECTION TO PURCHASE]

    

    The
undersigned, the holder of the attached Warrant, hereby irrevocably elects to
exercise the purchase right represented by this Warrant Certificate for, and to
purchase securities of, I-Web Media, Inc. and herewith makes payment of
$__________ therefor, and requests that the certificates for such securities be
issued in the name of, and delivered to ___________________, whose address is
______________________________.

    

    
      
        
          
            
              
                
                  	
                          Dated:____________________,
      20___

                        	
                           

                        
	 
      	 
      
	 
      	 
      
	 
      	
                          By:

                        	 
      
	 
      	
                          Its:

                        	 
      
	 
      	
                          (Signature
      must conform in all respects to name of holder as specified on the face of
      the Warrant Certificate)

                        
	 
      	 
      
	 
      	 
      
	 
      	
                          (Insert
      Social Security or Other

                        
	 
      	
                          Identifying
      Number of
Holder)

                        

                

              

            

          

        

      

    

     

    
      
         

      

      
        Page 6 of
6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}]]