Document:

EXHIBIT
      10.3

    

    STOCK
      PLEDGE AGREEMENT

    

    This
      STOCK PLEDGE AGREEMENT (this “Agreement”)
      is
      made and entered into as of September 11, 2007; by and between ProElite, Inc.,
      a
      New Jersey corporation (the “Pledgor”)
      and
      Terry Trebilcock and Juliemae Trebilcock (the “Pledgees”)
      with
      reference to the following:

    

    RECITALS

    

    A. Concurrently
      with the execution of this Agreement, Pledgor is purchasing from Pledgees all
      of
      the capital stock of King of the Cage, Inc. (the “Company”) pursuant to a Stock
      Purchase dated as of September 7, 2007 among the Company, Pledgor and Pledgees
      (the “Stock Purchase Agreement”). Defined terms not defined herein shall have
      the meanings ascribed to them in the Purchase Agreement.

    

    B. Under
      the
      Purchase Agreement, a certain portion of the Purchase Price consists of
      contingent payments (the “Contingent Payments”).

    

    C. As
      security for the Contingent Payments, Pledgor has agreed to pledge the
      Collateral (as defined below) to Pledgees.

    

    NOW,
      THEREFORE, it
      is
      hereby agreed as follows:

    

    1. Grant
      of Security Interest.
      For
      valuable consideration and to secure the Obligations (defined below), the
      Pledgor hereby grants to the Pledgees a first priority security interest in
      all
      of the Company Shares (the “Pledged
      Shares”)
      (collectively, the “Collateral”).
      The
      security interest granted hereunder may be perfected by the filing of a UCC-1
      financing statement in the state of New Jersey (and if necessary to perfect
      such
      security interest, in the State of California). The Pledgor hereby appoints
      the
      Pledgees as its attorney-in-fact to file such financing statement.

    

    2. Obligations
      Secured.
      This
      Agreement and the security interest created hereby are given for the purpose
      of
      securing the Pledgor’s obligations to make the Contingent Payments (the
“Obligations”).

    

    3. Warranties.
      The
      Pledgor hereby warrants that upon the consummation of the Purchase Agreement
      and
      assuming the representations of the Pledgees thereunder are true and correct,
      the Pledgor is the owner of the Collateral and has the right to pledge the
      Collateral, and that the Collateral is free from all liens, adverse claims
      and
      other security interests, other than (i) those restrictions created hereby,
      and
      (ii) the restrictions on transfer imposed by applicable federal and state
      securities laws. The security interest in the Pledged Shares granted by the
      Pledgor hereunder is a first priority security interest.

    

    4. Delivery
      of Certificate(s).
      Upon
      the request of Pledgees, the Pledgor agrees to deliver to the Pledgees the
      certificates, representing the Pledged Shares. Any new, additional or different
      securities or other property which may now or hereafter become distributable
      with respect to the Collateral by reason of any stock split, stock dividend,
      recapitalization, combination of shares, exchange of shares or other change
      affecting the Company’s common stock as a class shall, upon receipt by the
      Pledgor, be part of the Collateral hereunder.

    

    5. Payment
      of Taxes and Other Charges.
      The
      Pledgor shall pay, prior to the delinquency date, all taxes, liens, assessments
      and other charges against the Collateral, and in the event that the Pledgor
      fails to do so, the Pledgees may at their election pay any or all of such taxes
      and other charges without contesting the validity or legality thereof. The
      payments so made shall become part of the Obligations secured hereunder, and
      until paid shall bear interest at the minimum per annum rate, compounded
      semi-annually, required to avoid the imputation of interest income to the
      Pledgees and compensation income to the Pledgor under the Federal tax
      laws.

    

    
      
         

      

      
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    6. Shareholder
      Rights.
      So long
      as there exists no Event of Default under Paragraph 10
      of this
      Agreement, the Pledgor may exercise all shareholder voting rights and be
      entitled to receive any and all distributions on the Collateral and all proxy
      statements and other shareholder materials pertaining to the
      Collateral.

    

    7. Rights
      and Powers of Pledgees.
      The
      Pledgees may, without obligation to do so, perform such acts as are necessary
      to
      preserve and protect the Collateral and the rights, powers and remedies granted
      with respect to such Collateral by this Agreement. Expenses reasonably incurred
      in connection with such action shall be payable by the Pledgor and become part
      of the Obligations secured hereunder.

    

    8. Transfer
      of Assets.
      Pledgor
      shall not sell the Collateral on the trademarks of the Company. Additionally,
      Pledgor shall not enter into an exclusive license for the library or the
      trademarks of the Company unless the Company receives substantially all of
      the
      benefits therefrom.

    

    9. Release
      of Collateral.
      The
      Collateral shall be released from the pledge and no longer subject to the terms
      of this Agreement upon the earlier to occur of a sale of such Collateral in
      accordance with Paragraph
      10
      hereof
      or the payment in full of all Contingent Payments pursuant to the Purchase
      Agreement.

    

    10. Transfer
      of Interests.
      The
      Pledgors hereby covenant that, until such time as the Obligations have been
      fully paid, performed and satisfied, the Pledgor shall not sell, convey or
      otherwise dispose of any of the Collateral or any interest therein, or create,
      incur or permit to exist any pledge, mortgage, lien, charge, encumbrance or
      any
      security interest whatsoever in or with respect to any of the Collateral, or
      the
      proceeds thereof, other than the security interest created hereby.

    

    11. Events
      of Default.
      (a) The
      occurrence of and continuance of the following events shall constitute an “Event
      of Default” under this Agreement provided, however, that, if the Pledgor
      disputes whether or not an Event of Default has occurred, it shall not be deemed
      to be an Event of Default until such dispute has been conclusively resolved
      by a
      court of competent jurisdiction (after all appeals have been exhausted) in
      favor
      of the Pledgees.

    

    (i) the
      failure of the Pledgor to make any Contingent Payment within thirty days after
      receipt by the Pledgor of written notice of failure to pay; or

    

    (ii) the
      failure of the Pledgor to perform any material obligation imposed upon the
      Pledgor by reason of this Agreement, the Purchase Agreement or the Employment
      Agreement within thirty days after receipt by the Pledgor of written notice
      of
      such failure.

    

    (b) Upon
      the
      occurrence of any Event of Default, the Pledgees may exercise only the following
      rights and remedies granted to a secured party under the provisions of the
      California Uniform Commercial Code: (i) the power to dispose of the Collateral
      by public or private sale, in which case the provisions of Section 14 shall
      apply including the right of Pledgees to be paid the amount of the Obligations
      in case of an overbid, or (ii) to accept the Collateral in full payment and
      satisfaction of all Obligations then owed or thereafter arising under the
      Purchase Agreement, in which case the Pledgees will concurrently pay to the
      Pledgor all cash payments paid under Section 2.1(a) of the Purchase Agreement
      which the Pledgees have received under the Purchase Agreement.

    

    12. Other
      Remedies.
      Any
      forbearance, failure or delay by the Pledgees in exercising any right, power
      or
      remedy under this Agreement shall not be deemed to be a waiver of such right,
      power or remedy. Any single or partial exercise of any right, power or remedy
      under this Agreement shall not preclude the further exercise thereof, and every
      right, power and remedy of Pledgees under this Agreement shall continue in
      full
      force and effect unless such right, power or remedy is specifically waived
      by an
      instrument executed by the Pledgees.

    

    
      
         

      

      
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    13. Costs
      and Expenses.
      All
      costs and expenses (including reasonable attorneys fees) incurred by the
      Pledgees in the exercise or enforcement of any right, power or remedy granted
      it
      under this Agreement shall become part of the Obligations secured hereunder
      and
      shall bear interest until paid at the minimum per annum rate, compounded
      semi-annually, required to avoid the imputation of interest income to the
      Pledgees and compensation income to the Pledgors under the Federal tax
      laws.

    

    14. Application
      of Proceeds.
      The
      proceeds of sale of any of the Collateral pursuant to Paragraph
      11
      shall be
      applied by the Pledgees in the following order of priority: (i) to the payment
      of expenses (including all attorneys’ fees) incurred in connection with any such
      sale, transfer or delivery of all or any portion of the Collateral; (ii) to
      the
      payment of any other reasonable costs, fees or expenses incurred or paid by
      the
      Pledgees in exercising any right, power or remedy conferred by this Agreement;
      and (iii) to the satisfaction of the Obligations. Pledgees shall pay any balance
      remaining to the Pledgor. In the event that the proceeds of any sale of all
      or
      any portion of the Collateral exceed the Obligations, Pledgees shall deliver
      any
      excess proceeds to the Pledgor. Notwithstanding the foregoing, solely for the
      purposes of determining the amount of any credit bid by the Pledgees pursuant
      to
      Paragraph 11(b), Obligations shall include all unpaid Contingent Payments (as
      defined in the Purchase Agreement) which the Pledgees would have earned but
      for
      the breach by Pledgor of its obligations under the Purchase Agreement, it being
      understood that any shares of common stock issuance shall be valued as provided
      in the Purchase Agreement.

    

    15. Applicable
      Law.
      This
      Agreement shall be governed by, and construed in accordance with, the laws
      of
      the State of California, without resort to that State’s conflict-of-laws
      rules.

    

    16. Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original and all of which together shall constitute one and the same
      instrument. 

    

    IN
      WITNESS WHEREOF, this Agreement has been executed by the Pledgor and Pledgees
      as
      of the date first written above.

     

    
      	 	
              “Pledgor”

               

              ProElite,
                Inc.

                

                

              By:
                _____________________________________

              Douglas
                DeLuca, Chief Executive Officer

            
	 	 
	 	
              “Pledgees”

               

              _____________________________________

              Terry
                Trebilcock

               

              _____________________________________

              _____________________________________

              Julie
                Fae Trebilcock

            

    

    

    
      
         

      

      
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          3 -EXHIBIT
      4.1

    

    CERTIFICATE
      OF DESIGNATION

    OF

    SERIES
      A PREFERRED STOCK

    OF

    DOT
      VN, INC.

    

    We,
      the
      undersigned officers of Dot VN, Inc., a Delaware corporation (the “Corporation”)
      pursuant to Section 151 and Section 103 of the General Corporation Law of the
      State of Delaware (“GCLD”), do hereby state and certify that pursuant to the
      authority vested in the Board of Directors of the Corporation (the “BOD”) by the
      Amended and Restated Certificate of Incorporation, the BOD on November 1, 2006,
      duly adopted the resolution creating a series of one hundred twenty thousand
      (120,000) shares of preferred stock designated the Series A Preferred
      Stock:

    

    RESOLVED,
      that pursuant to the authority vested in the BOD of the Corporation in
      accordance with provisions of the Amended and Restated Articles of
      Incorporation, a series of preferred stock of the Corporation be and it hereby
      is created, and that the designation and thereof and voting powers, preferences
      and relative, participating, optional, and other special rights of the shares
      of
      such series and the qualifications, limitations or restrictions thereof are
      as
      follows:

     

    ARTICLE
      1

    Designation
      and Amount

    

    This
      series of Preferred Stock shall consist of one hundred twenty thousand (120,000)
      shares of Series A Preferred Stock and shall be designated Series A voting
      convertible Preferred Stock (the “Series
      A Preferred Stock”).
      The
      stated value of the Series A Preferred Stock shall be $10.00 per share, or
      $1,200,000.00 as to all shares of the Series A Preferred Stock (the
“Stated
      Value”).

    

    ARTICLE
      2

    Rank

    

    Except
      for the $1,200,000.00 total Stated Value payable on any liquidation or
      dissolution of the Corporation, the Series A Preferred Stock shall junior to
      any
      other shares of Preferred Stock that may subsequently be authorized by the
      Board
      of Directors and shall rank in parity with the Common Stock of the
      Corporation.

    

    ARTICLE
      4

    Dividends

    

    The
      Series A Preferred Stock shall not pay any dividend.

    

    ARTICLE
      5

    Liquidation
      Preference, etc.

    

    In
      the
      event that: 

     

    
      
         

      

      
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    (a)
      the
      Corporation shall commence a voluntary case under the Federal bankruptcy laws
      or
      any other applicable Federal or state bankruptcy, insolvency or similar law,
      or
      consent to the entry of an order for relief in an involuntary case under any
      law
      or to the appointment of a receiver, liquidator, assignee, custodian, trustee
      or
      sequestrator (or other similar official) of the Corporation or of any
      substantial part of its property, or make an assignment for the benefit of
      its
      creditors, or admit in writing its inability to pay its debts generally as
      they
      become due, or if a decree or order for relief in respect of the Corporation
      shall be entered by a court having jurisdiction in the premises in an
      involuntary case under the Federal bankruptcy laws or any other applicable
      Federal or state bankruptcy, insolvency or similar law resulting in the
      appointment of a receiver, liquidator, assignee, custodian, trustee or
      sequestrator (or other similar official) of the Corporation or of any
      substantial part of its property, or ordering the winding up or liquidation
      of
      its affairs, and any such decree or order shall be unstayed and in effect for
      a
      period of 30 consecutive days and, on account of any such event (“Insolvency
      Proceeding”);
      or

    

    (b)
      the
      Corporation shall otherwise liquidate, dissolve or wind up, no distribution
      shall be made to the holders of any shares of Common Stock of the Corporation,
      until the Holders of shares of Series A Preferred Stock shall have received
      the
      $1,200,000.00 Stated Value with respect to all one hundred twenty thousand
      (120,000) shares of Series A Preferred Stock.

    

    ARTICLE
      6

    Conversion
      of Series A Preferred Stock

    

    Section
      6.1 Optional
      Conversion; Conversion Rate

    

    At
      the
      option of the Holder, each share of Series A Preferred Stock may be converted,
      at any time and from time to time on or after issuance, into that number of
      shares of Common Stock (the “Series A Preferred Conversion Share”) sas shall be
      equal to the product of (a) the Series A Preferred Shares converted, and (b)
      150
      (hereinafter referred to as the “Conversion
      Rate”).
      If at
      the time of any such optional conversion, the aggregate amount of Series A
      Preferred Conversion Shares shall not be able to be calculated, the number
      of
      shares of Common Stock referred to in clause (a) above shall be deemed to be
      18,000,000; provided, that all such shares of Common Stock shall thereupon
      be
      placed in escrow and shall be subject to reduction when the final number of
      Series A Conversion Shares shall be capable of being calculated. 

    

    Section
      6.2 Automatic
      Conversion

    

    (a) Simultaneous
      with the effof a registration statement on Form SB-2 or S-1 (the “Automatic
      Conversion Date”),
      all,
      and not less than all, of the then issued and outstanding shares of Series
      A
      Preferred Stock shall automatically, and without any further action on the
      part
      of the Corporation or the Holder(s), be converted into shares of Common Stock
      at
      the Conversion Rate then in effect.

    

    (b) Upon
      the
      occurrence of such automatic conversion of the Series A Preferred Stock, the
      Holders of Series A Preferred Stock shall surrender the certificates
      representing such shares at the office of the Corporation. Thereupon, there
      shall be issued and delivered to such Holder promptly at such office and in
      its
      name as shown on such surrendered certificate or certificates, a certificate
      or
      certificates for the number of shares of Common Stock into which the shares
      of
      Series A Preferred Stock surrendered were convertible on the date on which
      such
      automatic conversion occurred.

    

    Section
      6.3 Exercise
      of Conversion Privilege

    

    (a) The
      conversion of the shares of Series A Preferred Stock in accordance with Section
      6.1 above may be exercised, in whole or in part, by the Holder by faxing an
      executed and completed Conversion Notice to the Corporation. Each date on which
      a Conversion Notice is faxed to the Corporation in accordance with the
      provisions of this Section 6.3 shall constitute a Conversion Date. The
      Corporation shall convert the Series A Preferred Stock and issue the appropriate
      number of shares of Common Stock to be issued in connection with such optional
      conversion, and all voting and other rights associated with the beneficial
      ownership of the Common Stock issued at conversion shall vest with the Holder,
      effective as of the Conversion Date at the time specified in the Conversion
      Notice. The Conversion Notice also shall state the name or names (with
      addresses) of the Persons who are to become the holders of the Common Stock
      issuable in connection with such conversion. The Holder shall deliver the shares
      of Series A Preferred Stock to the Corporation by express courier within five
      Business Days following the Conversion Date. Upon surrender for conversion,
      the
      Series A Preferred Stock shall be accompanied by a proper assignment thereof
      to
      the Corporation or be endorsed in blank. As promptly as practicable after the
      receipt of the Conversion Notice as aforesaid, but in any event not more than
      five Business Days after the Corporation’s receipt of such Conversion Notice,
      the Corporation shall (i) issue the Common Stock issuable at conversion in
      accordance with the provisions of this Article 6, and (ii) cause to be mailed
      for delivery to the Holder (x) a certificate or certificate(s) representing
      the
      number of shares of Common Stock to which the Holder is entitled by virtue
      of
      such conversion, (y) cash, as provided in Section 6.4, in respect of any
      fraction of a share of Common Stock issuable at conversion and (z) if the
      Corporation chooses to pay accrued and unpaid dividends in cash, cash in the
      amount of accrued and unpaid dividends as of the Conversion Date. Such
      conversion shall be deemed to have been effected at the time at which the
      Conversion Notice indicates so long as the Series A Preferred Stock shall have
      been surrendered as aforesaid at such time, and at such time the rights of
      the
      Holder of the Series A Preferred Stock, as such, shall cease and the Person
      or
      Persons in whose name or names the Common Stock shall be issuable shall be
      deemed to have become the holder or holders of record of the shares of Common
      Stock represented thereby and all voting and other rights associated with the
      beneficial ownership of such shares of Common Stock shall at such time vest
      with
      such Person or Persons. The Conversion Notice shall constitute a contract
      between the Holder and the Corporation, whereby the Holder shall be deemed
      to
      subscribe for the number of shares of Common Stock which it will be entitled
      to
      receive upon such conversion and, in payment and satisfaction of such
      subscription (and for any cash adjustment to which it is entitled pursuant
      to
      Section 6.4), to surrender the Series A Preferred Stock and to release the
      Corporation from all liability thereon other than the obligation to deliver
      the
      certificates representing the Common Shares and pay cash in lieu of fractional
      shares as set forth in this Section 6.3. No cash payment aggregating less than
      $1.00 shall be required to be given unless specifically requested by the
      Holder.

     

    
      
         

      

      
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    (b) The
      Holder shall be entitled to exercise its conversion privilege notwithstanding
      the commencement of any case under 11 U.S.C. § 101 et
      seq.
      (the
“Bankruptcy
      Code”).
      In
      the event the Corporation is a debtor under the Bankruptcy Code, the Corporation
      hereby waives to the fullest extent permitted any rights to relief it may have
      under 11 U.S.C. § 362 in respect of the Holder’s conversion privilege. The
      Corporation hereby waives to the fullest extent permitted any rights to relief
      it may have under 11 U.S.C. § 362 in respect of the conversion of the Series A
      Preferred Stock. The Corporation agrees, without cost or expense to the Holder,
      to take or consent to any and all action necessary to effectuate relief under
      11
      U.S.C. § 362.

    

    (c) All
      shares of Series A Preferred Stock shall be converted into shares of Common
      Stock as provided in Section 6.2 of this Article 6, with an effective date
      of
      such conversion being on the Automatic Conversion Date, and the record date
      for
      the issuance of such Common Stock shall be such Automatic Conversion
      Date.

    

    Section
      6.4 Fractional
      Shares

    

    No
      fractional shares of Common Stock or scrip representing fractional shares of
      Common Stock shall be issued upon conversion of the Series A Preferred Stock.
      Instead of any fractional shares of Common Stock which otherwise would be
      issuable upon conversion of the Series A Preferred Stock, the Corporation shall
      pay a cash adjustment in respect of such fraction in an amount equal to the
      same
      fraction multiplied by the closing bid price of the Common Shares on the last
      trading day before the Conversion Date.

    

    Section
      6.5 Adjustments
      to Conversion Rate 

    

    If,
      prior
      to the date on which all shares of Series A Preferred Stock are converted,
      the
      Corporation shall (i) pay a dividend in shares of Common Stock or Options of
      Convertible Securities or make a distribution in shares of Common Stock or
      Options of Convertible Securities, (ii) subdivide its outstanding Common Stock,
      (iii) combine its outstanding Common Stock into a smaller number of shares
      of
      Common Stock or (iv) issue by reclassification of its Common Stock other
      securities of the Corporation, the Conversion Rate in effect on the opening
      of
      business on the record date for determining stockholders entitled to participate
      in such transaction shall thereupon be adjusted, or, if necessary, the right
      to
      convert shall be amended, such that the number of shares of Common Stock
      receivable upon conversion of the shares of Series A Preferred Stock immediately
      prior thereto shall be adjusted so that the Holder shall be entitled to receive,
      upon the conversion of such shares of Series A Preferred Stock, the kind and
      number of shares of Common Stock or other securities of the Corporation which
      it
      would have owned or would have been entitled to receive after the happening
      of
      any of the events described above had the Series A Preferred Stock been
      converted immediately prior to the happening of such event or any record date
      with respect thereto. Any adjustment made pursuant to this Section 6.5 shall
      become effective immediately after the effective date of such event and such
      adjustment shall be retroactive to the record date, if any, for such event.
      No
      adjustment with respect to any ordinary cash dividends (made out of current
      earnings) on shares of Common Stock shall be made.

     

    
      
         

      

      
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    In
      each
      case of an adjustment of the Conversion Rate for the number of shares of Common
      Stock issuable upon conversion of the Series A Preferred Stock, the Corporation,
      at its expense, shall compute such adjustment or readjustment in accordance
      with
      the provisions hereof and prepare a certificate showing such adjustment, and
      shall mail such certificate, by first class mail, postage prepaid, to each
      registered Holder of Series A Preferred Stock at the Holder's address as shown
      in the Corporation's books. The certificate shall set forth such adjustment
      or
      readjustment, showing in detail the facts upon which such adjustment or
      readjustment is based.

    

    ARTICLE
      7

    Voting
      Rights

    

    Section
      7.1 General
      Voting Rights

    

    Except
      as
      otherwise provided herein or as required by law, the Series A Preferred Stock
      shall be voted equally with the shares of Common Stock and not as a separate
      class, at any annual or special meeting of the stockholders of the Corporation,
      and may act by written consent in the same manner as the Common Stock, in either
      case upon the following basis: each Holder of shares of Series A Preferred
      Stock
      shall be entitled to such number of votes as shall be equal to the whole number
      of shares of Common Stock into which such Holder’s aggregate number of shares of
      Series A Preferred Stock are convertible (pursuant to Article 6 hereof)
      immediately after the close of business on the record date fixed for such
      meeting or the effective date of such written consent.

    

    Section
      7.2 Notice

    

    The
      Corporation shall provide each Holder of Series A Preferred Stock with prior
      notification of any meeting of the stockholders (and copies of all proxy
      materials and other information sent to shareholders). In the event of any
      taking by the Corporation of a record of its stockholders for the purpose of
      determining stockholders who are entitled to receive payment of any dividend
      or
      other distribution, any right to subscribe for, purchase or otherwise acquire
      (including by way of merger, consolidation or recapitalization) any share of
      any
      class or any other securities or property, or to receive any other right, or
      for
      the purpose of determining stockholders who are entitled to vote in connection
      with any proposed liquidation, dissolution, winding up or otherwise of the
      Corporation, the Corporation shall mail a notice thereof to each Holder at
      least
      30 days prior to the date on which any such record is to be taken for the
      purpose of such dividend, distribution, right or other event, together with
      a
      brief statement regarding the amount and character of such dividend,
      distribution, right or other event to the extent known at such
      time.

    

    Section
      7.3  Separate
      Class Voting Rights

    

    To
      the
      extent that under the GCLD the vote of the Holders of the Series A Preferred
      Stock, voting separately as a class, is applicable, is required to authorize
      a
      given action of the Corporation, the affirmative vote or consent of the Holders
      of at least a majority of the outstanding shares of Series A Preferred Stock
      represented at a duly held meeting at which a quorum is present or by written
      consent of a majority of the outstanding shares of Series A Preferred Stock
      (except as otherwise may be required under the GCLD) shall constitute the
      approval of such action by the class. 

     

    
      
         

      

      
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    ARTICLE
      8

    Miscellaneous

    

    Section
      8.1 Loss,
      Theft, Destruction of Preferred Stock

    

    Upon
      receipt of evidence satisfactory to the Corporation of the loss, theft,
      destruction or mutilation of shares of Series A Preferred Stock and, in the
      case
      of any such loss, theft or destruction, upon receipt of indemnity reasonably
      satisfactory to the Corporation, or, in the case of any such mutilation, upon
      surrender and cancellation of the Series A Preferred Stock, the Corporation
      shall make, issue and deliver, in lieu of such lost, stolen, destroyed or
      mutilated shares of Series A Preferred Stock, new shares of Series A Preferred
      Stock of like tenor. The Series A Preferred Stock shall be held and owned upon
      the express condition that the provisions of this Section 8.1 are exclusive
      with
      respect to the replacement of mutilated, destroyed, lost or stolen shares of
      Series A Preferred Stock and shall preclude any and all other rights and
      remedies notwithstanding any law or statute existing or hereafter enacted to
      the
      contrary with respect to the replacement of negotiable instruments or other
      securities without the surrender thereof.

    

    Section
      8.2 Whom
      Deemed Absolute Owner

    

    The
      Corporation may deem the Person in whose name the Series A Preferred Stock
      shall
      be registered upon the registry books of the Corporation to be, and may treat
      it
      as, the absolute owner of the Series A Preferred Stock for the purpose of
      receiving payment of dividends on the Series A Preferred Stock, for the
      conversion of the Series A Preferred Stock and for all other purposes, and
      the
      Corporation shall not be affected by any notice to the contrary. All such
      payments and such conversion shall be valid and effectual to satisfy and
      discharge the liability upon the Series A Preferred Stock to the extent of
      the
      sum or sums so paid or the conversion so made.

    

    Section
      8.3 Register

    

    The
      Corporation shall keep at its principal office a register in which the
      Corporation shall provide for the registration of the Series A Preferred Stock.
      Upon any transfer of the Series A Preferred Stock in accordance with the
      provisions hereof, the Corporation shall register such transfer on the register
      of Series A Preferred Stock.

    

    Section
      8.4 Withholding

    

    To
      the
      extent required by applicable law, the Corporation may withhold amounts for
      or
      on account of any taxes imposed or levied by or on behalf of any taxing
      authority in the United States having jurisdiction over the Corporation from
      any
      payments made pursuant to the Series A Preferred Stock.

    

    Section
      8.5 Headings

    

    The
      headings of the Articles and Sections of this Certificate of Designation are
      inserted for convenience only and do not constitute a part of this Certificate
      of Designation.

    

    Section
      8.6 Severability

    

    If
      any
      provision of this Certificate of Designation, or the application thereof to
      any
      person or entity or any circumstance, is invalid or unenforceable, (i) a
      suitable and equitable provision shall be substituted therefor in order to
      carry
      out, so far as may be valid and enforceable, the intent and purpose of such
      invalid or unenforceable provision, and (ii) the remainder of this Certificate
      of Designation and the application of such provision to other persons, entities
      or circumstances shall not be affected by such invalidity or unenforceability,
      nor shall such invalidity or unenforceability affect the validity or
      enforceability of such provision, or the application thereof, in any other
      jurisdiction.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    [the
      balance of this page intentionally left blank]

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    In
      Witness Whereof,
      the
      Corporation has caused this Certificate of Designation to be signed by its
      duly
      authorized officer on November __, 2006

    
      	 	 	 
	 	DOT
              VN,
              INC.
	 
 	 
 	 
 
	
            	By:  	/s/ Thomas
              Johnson 
	 	
              
Name: Thomas
              Johnson, Chairman
	 	
            

      	 	 	 
	 	 
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
 Lee
              Johnson, President
	 	
            

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

    

     

    ANNEX
      I

    

    

    FORM
      OF CONVERSION NOTICE

    

    To:        
       DOT
      VN,
      INC.

    9449
      Balboa Ave, Suite 114

    San
      Diego, CA 92123

    

    The
      undersigned owner of this Series A Redeemable Convertible Preferred Stock (the
      “Series
      A Preferred Stock”)
      issued
      by Dot VN, Inc. (the “Corporation”)
      hereby
      irrevocably exercises its option to convert __________ shares of the Series
      A
      Preferred Stock into shares of the common stock, par value $0.001 per share
      (“Common
      Stock”),
      of
      the Corporation in accordance with the terms of the Certificate of Designation.
      The undersigned hereby instructs the Corporation to convert the number of shares
      of the Series A Preferred Stock specified above into Shares of Common Stock
      Issued at Conversion in accordance with the provisions of Article 6 of the
      Certificate of Designation. The undersigned directs that the Common Stock
      issuable and certificates therefor deliverable upon conversion and the
      recertificated Series A Preferred Stock, if any, not being surrendered for
      conversion hereby, together with any check in payment for fractional Common
      Stock, be issued in the name of and delivered to the undersigned unless a
      different name has been indicated below. All capitalized terms used and not
      defined herein have the respective meanings assigned to them in the Certificate
      of Designation. So long as the Series A Preferred Stock shall have been
      surrendered for conversion hereby, the conversion pursuant hereto shall be
      deemed to have been effected at the date and time specified below, and at such
      time the rights of the undersigned as a Holder of the Series A Preferred Stock
      shall cease and the Person or Persons in whose name or names the Common Stock
      Issued at Conversion shall be issuable shall be deemed to have become the holder
      or holders of record of the Common Shares represented thereby and all voting
      and
      other rights associated with the beneficial ownership of such Common Shares
      shall at such time vest with such Person or Persons.

     

    Date
      and
      time: _____________________________

    

    

    __________________________________________

    Signature

    

    Please
      print name and address (including zip code number):

    

    __________________________________________

    

    __________________________________________

    

    __________________________________________

    
      

      
        
           

        

        
          8

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