Document:

Unassociated Document

    
      Exhibit
10.35

    

     

    THIRD
AMENDED AND RESTATED

    EMPLOYMENT
AGREEMENT

     

    THIS
THIRD AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and
entered into as of November 2, 2010, by and between REPUBLIC AIRWAYS HOLDINGS
INC., a Delaware corporation (the “Company”), and WAYNE C. HELLER (the
“Executive”).

     

    R
E C I T A L S

     

    WHEREAS,
the Executive is party to the Second Amended and Restated Employment Agreement
dated as of August 1, 2003, as amended (the “Prior Agreement”); and

     

    WHEREAS,
the Company and the Executive desire to amend certain provisions of the Prior
Agreement and to enter into this Agreement.

     

    NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and intending to be legally bound,
the parties hereto agree as follows:

     

    1.           Employment.  The
Company agrees to continue to employ the Executive, and the Executive agrees to
render his services to the Company, as its Executive Vice President and Chief
Operating Officer, during the Term (as defined below).  In connection
with his employment as Executive Vice President and Chief Operating Officer, the
Executive shall serve without additional payment or compensation of any kind as
an officer of any other direct or indirect subsidiary or affiliate of the
Company designated by the Company’s Chief Executive Officer (collectively, the
“Subsidiaries”).  The Executive shall render his services at the
direction of the Company’s Chief Executive Officer at the Company’s offices in
Indianapolis, Indiana.  The Executive agrees to use his best efforts
to promote and further the business, reputation and good name of the Company and
the Subsidiaries (collectively, the “Company Group”) and the Executive shall
promptly and faithfully comply with all instructions, directions, requests,
rules and regulations made or issued from time to time by the
Company.

     

    2.           Term.

     

    (a)           The
term of employment pursuant to this Agreement (the “Term”) shall continue until
December 31, 2013; provided that (i) the Company may terminate this Agreement
for any reason or no reason by providing the Executive with 30 days prior
written notice of such termination and (ii) the Executive may terminate this
Agreement for any reason or no reason by providing the Company with 180 days
prior written notice of such termination (90 days prior written notice if Bryan
Bedford is not then serving as the Company’s Chief Executive Officer), which
notice in either case may not be given prior to June 30, 2011.

     

    (b)           Notwithstanding
the foregoing, this Agreement may be terminated by the Company in the event that
“Cause” for such termination exists as provided in Section 8(a) below or by the
Executive for Good Reason as provided in Section 8(b) below.  If this
Agreement is terminated by the Company for “Cause”, the Executive shall not be
entitled to any Severance Compensation or other compensation of any kind
following the effective date of such termination.  If this Agreement
is terminated by the Executive other than for Good Reason, the Company shall pay
to the Executive his Base Salary through December 31, 2013.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (c)           In
the event (i) the Company terminates this Agreement or the Executive’s
employment other than for Cause, or (ii) the Executive terminates this Agreement
or the Executive’s employment for Good Reason, the Company shall pay the
Executive Severance Compensation as provided in Section 4 hereof.  If
this Agreement is terminated by the Company other than for Cause, options
granted to the Executive to purchase shares of the Company’s common stock and
restricted shares covering shares of the Company’s common stock shall
immediately become fully vested and exercisable in accordance with the
agreements evidencing such awards.

     

    (d)           The
Term shall automatically renew for successive one year periods unless either
party shall have given notice to terminate this Agreement no later than ninety
(90) days prior to the end of the then current Term.

     

    3.           Compensation.  As
full and complete compensation for all the Executive’s services hereunder, the
Company shall pay the Executive the compensation described below.

     

    (a)           Base
Salary.  During the Term, the Company shall pay the Executive
an annual base salary of $300,000 (“Base Salary”). The Board of Directors of the
Company (the “Board”) shall review the Executive’s Base Salary each year and
shall have the right in its discretion to increase such Base
Salary.  In the event this Agreement is terminated prior to the
expiration of the Term, the Company shall pay to the Executive, in addition to
any Severance Compensation payable under Section 4, any accrued but unpaid Base
Salary through the termination date.

     

    (b)           Annual Incentive
Plan.  In addition to the Base Salary, during the Term, the
Executive will have an annual bonus opportunity target equal to 75% of the
Executive’s salary for the year.  The amount of the annual bonus
(“Bonus”) for any year may be more or less than the target amount, but not more
than 150% of the Executive’s salary for the year, and will be determined, in its
sole discretion, by the Compensation Committee based upon certain performance
measures which shall be determined by the Board in its discretion and
communicated to the Executive by the end of each September of the prior year
during the Term.  The Bonus for a year will be determined and payable
by March 15 of the following year.  In the event this Agreement or the
Executive’s employment is terminated by the Company for Cause or by the
Executive other than for Good Reason, the Executive shall not be entitled to any
Bonus Compensation for such year or any subsequent period.

     

    4.           Severance
Compensation.

     

    (a)           Termination Upon Death, or
by the Company for Disability or Without Cause.  In the event
of the Executive’s death or in the event the Company terminates this Agreement
as a result of the Executive’s inability, with reasonable accommodation, to
perform the essential functions of his position, by reason of physical or mental
incapacity, for a total period of 90 days in any 360-day period (“Executive’s
Disability”) or other than for Cause, the Company shall pay to the Executive or
his estate as the case may be as severance compensation two times the
Executive’s Base Salary as then in effect plus two times the Executive’s bonus
paid for the Company’s last calendar year.  The severance compensation
shall be paid in a lump sum by the end of the following month following
termination of this Agreement, provided that the Company receives a release
within 30 days following termination of this Agreement signed by the Executive,
substantially in the form attached hereto as Exhibit A, that is no
longer revocable.  The Executive agrees that the Company may satisfy
its obligations to provide severance compensation pursuant to this Section 4(a)
by purchasing and maintaining one or more insurance policies payable to either
the Executive or his designees or to the Company (with further payment to the
Executive or such designees) upon the Executive’s death or as a result of the
Executive’s Disability.  The Executive agrees to cooperate with the
Company in obtaining such insurance, including by participating in such physical
examinations and providing such personal information as may be requested by the
Company’s insurers.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (b)           Occurrence of a Change in
Control.  In the event of a Change of Control (provided that
after such Change of Control, the Executive’s employment is terminated (x) by
the Company without Cause or (y) by the Executive for Good Reason), the Company
shall pay to the Executive as severance compensation two times the Executive’s
Base Salary as then in effect plus two times the Executive’s bonus paid for the
Company’s last calendar year.  The severance compensation shall be
paid in a lump sum by the end of the following month following a qualifying
event.  “Change of Control” shall mean that after the date hereof, (i)
any person or group of affiliated or associated persons acquires a majority or
more of the voting power of the Company; (ii) the consummation of a sale of all
or substantially all of the assets of the Company; (iii) the dissolution of the
Company or (iv) the consummation of any merger, consolidation, or reorganization
involving the Company in which, immediately after giving effect to such merger,
consolidation or reorganization, less than majority of the total voting power of
outstanding stock of the surviving or resulting entity is then “beneficially
owned” (within the meaning of Rule 13d-3 under the Securities Exchange Act of
1934, as amended) in the aggregate by the stockholders of the Company
immediately prior to such merger, consolidation or reorganization.

     

    (c)           Termination by the Executive
for Good Reason.  If the Executive terminates this Agreement
for Good Reason, the Company shall pay to the Executive as severance
compensation two times the Executive’s Base Salary as then in effect plus two
times the Executive’s bonus paid for the Company’s last calendar
year.  The severance compensation shall be paid in a lump sum within
ten (10) days following termination.

     

    (d)           Failure to
Renew.  If either the Executive or the Company gives notice to
terminate this Agreement at the end of the stated Term, the Company shall make a
payment to the Executive equal to one times the Executive’s Base Salary as in
effect at the end of the Term plus one times the Executive’s target bonus as in
effect at the end of the Term.  Such payment shall be made in a lump
sum within ten (10) days following the end of the stated Term of this Agreement,
provided that the Company receives a release within 30 days following
termination of this Agreement signed by the Executive, substantially in the form
attached hereto as Exhibit
A.  In addition, upon delivery of such release, all remaining
unvested shares of restricted stock granted to the Executive shall immediately
vest.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (e)           Continuation of
Benefits.

     

    (i)           Medical
Benefits.  If (A) the Company terminates the Executive’s
employment for any reason other than for Cause at any time or (B) if the
Executive’s employment terminates for any reason on or after December 31, 2013,
then in either such event the Company shall pay the Executive $2,500.00 each
month for the lifetime of the Executive, subject to an annual upward inflation
adjustment, for the cost of health insurance from a source other than the
Company for himself, his spouse and his eligible dependents, provided that the
Executive presents evidence of such insurance to the Company.  The
Company will begin the monthly payments to the Executive 30 days after the
termination of the Executive’s employment and thereafter on the 15th day of
each subsequent month during the Executive’s lifetime.

     

    (ii)           Travel
Privileges.  If (A) the Company terminates the Executive’s
employment for any reason other than for Cause at any time or (B) if the
Executive’s employment terminates for any reason on or after December 31, 2013,
then in either such event during each year of the Executive’s lifetime, the
Company shall provide the Executive with a Universal Air Travel Plan, Inc.
(UATP) card in the amount of $15,000 annually that the Executive, his spouse and
his dependents can use for travel.  The Executive shall be responsible
for any applicable taxes associated with such benefit.  The Company
will provide the UATP card to the Executive within 30 days of the termination of
the Executive’s employment and thereafter each year on the anniversary of such
date during the lifetime of the Executive.

     

    5.           No Other
Compensation.  Except as otherwise expressly provided herein,
or in any other written document executed by the Company and the Executive, no
other compensation or other consideration shall become due or payable to the
Executive on account of the services rendered to the Company
Group.  The Company shall have the right to deduct and withhold from
the compensation payable to the Executive hereunder any amounts required to be
deducted and withheld under the provisions of any statute, regulation,
ordinance, order or any other amendment thereto, heretofore or hereafter
enacted, requiring the withholding or deduction of compensation.

     

    6.           Medical & 401K
Benefits.  The Company agrees that the Executive shall be
entitled to participate in any retirement, 401K, disability, medical, pension,
profit sharing, group insurance, or any other plan or arrangement, or in any
other benefits now or hereafter generally available to executives of the
Company, in each case to the extent that the Executive shall be eligible under
the general provisions thereof.

     

    7.           Vacation.  The
Executive shall be entitled to take three weeks of paid vacation which shall
accrue monthly during each 12 months of the Executive’s employment hereunder,
and which vacation shall be taken on dates to be selected by mutual agreement of
the Company and the Executive.

     

    8.           Termination for Cause or
Good Reason.

     

    (a)           Termination for Cause by the
Company.  The Company, by written notice to the Executive, may
immediately terminate this Agreement and the Executive’s employment hereunder
for Cause.  As used herein, a termination by the Company “for Cause”
shall mean that the Executive has (i) willfully or materially refused to perform
a material part of his duties hereunder, (ii) materially breached the provisions
of Sections 9, 10 or 11 hereof, (iii) acted fraudulently or dishonestly in his
relations with the Company, (iv) committed larceny, embezzlement, conversion or
any other act involving the misappropriation of Company funds or assets in the
course of his employment, or (v) been indicted or convicted of any felony or
other crime involving an act of moral turpitude.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    (b)           Termination for Good Reason
by the Executive.  The Executive, by 20 business days prior
written notice to the Company, may terminate this Agreement and his employment
hereunder for Good Reason, provided that the Company shall have the right to
cure such Good Reason within such 20 business day period.  As used
herein, a termination by the Executive “for Good Reason” shall mean that (i) the
Company has materially diminished the duties and responsibilities of the
Executive with respect to the Company, (ii) the Company has relocated its
principal offices more than 25 miles from Indianapolis to another location
without the consent of the Executive or (iii) the Company has materially
breached the terms of this Agreement.

     

    9.           Confidential
Information.  The Executive recognizes and acknowledges that he
shall receive in the course of his employment hereunder certain confidential
information and trade secrets concerning the Company Group’s business and
affairs which may be of great value to the Company Group.  The
Executive therefore agrees that he will not disclose any such information
relating to the Company Group, the Company Group’s personnel or their operations
other than in the ordinary course of business or in any way use such information
in any manner which could adversely affect the Company Group’s
business.  For purposes of this Agreement, the terms “trade secrets”
and “confidential information” shall include any and all information concerning
the business and affairs of the Company Group and any division or other
affiliate of the Company Group that is not generally available to the
public.

     

    10.           Non-Competition.  The
Executive agrees that without the prior written consent of the Company’s Chief
Executive Officer during the Term and for a period of 12 months following the
termination or expiration of this Agreement, he will not participate as an
advisor, partner, joint venturer, investor, lender, consultant or in any other
capacity in any business transaction or proposed business transaction (a) with
respect to which the Executive had a material personal involvement on behalf of
the Company Group during the last 12 months of his employment with the Company,
or (b) that could reasonably be expected to compete with the Company Group’s
business or operations or proposed or contemplated business or transactions of
the Company Group that are (I) known by the Executive as of the date of such
termination or expiration, and (II) contemplated by the Company Group to proceed
during the 12 month period following such termination or
expiration.  For these purposes, the mere ownership by the Executive
of securities of a public company not in excess of 2% of any class of such
securities shall not be considered to be competition with the Company
Group.

     

    11.           Non-Solicitation.  The
Executive agrees that during the Term, and for a period of 12 months following
the termination or expiration of this Agreement, he shall not, without the prior
written consent of the Company, directly or indirectly, employ or retain, or
have or cause any other person or entity to employ or retain, any person who was
employed by the Company Group or any of its divisions or affiliates while the
Executive was employed by the Company.

     

    12.           Breach of this
Agreement.  If the Executive commits a breach, or threatens to
commit a breach, of any of the provisions of Sections 9, 10 or 11 of this
Agreement, then the Company shall have the right and remedy to have those
provisions specifically enforced by any court having equity jurisdiction, it
being acknowledged and agreed by the Executive that the rights and privileges of
the Company granted in Sections 9, 10 and 11 are of a special, unique and
extraordinary character and any such breach or threatened breach will cause
great and irreparable injury to the Company and that money damages will not
provide an adequate remedy to the Company.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    13.           Notices.  All
notices and other communications required or permitted hereunder shall be in
writing (including facsimile, telegraphic, telex or cable communication) and
shall be deemed to have been duly given when delivered by hand, or mailed,
certified or registered mail, return receipt requested and postage
prepaid:

     

    If to the
Company:             Republic
Airways Holdings, Inc.

    8909
Purdue Road

    Suite
300

    Indianapolis,
IN  46268

    Attn:  President
and Chief Executive Officer

     

    With a
copy to each member of the Board

     

    If to the
Executive:             Wayne
C. Heller

    2115
Burning Tree Drive

    Carmel,
IN  46032

     

    14.           Applicable
Law.  This Agreement was negotiated and entered into within the
State of Indiana.  All matters pertaining to this Agreement shall be
governed by the laws of the State of Indiana applicable to contracts made and to
be performed wholly therein.  Nothing in this Agreement shall be
construed to require the commission of any act contrary to law, and wherever
there is any conflict between any provision of this Agreement and any material
present or future statute, law, governmental regulation or ordinance as a result
of which the parties have no legal right to contract or perform, the latter
shall prevail, but in such event the provision(s) of this Agreement affected
shall be curtailed and limited only to the extent necessary to bring it or them
within the legal requirements.

     

    15.           Entire Agreement;
Modification; Consents and Waivers.  This Agreement contains
the entire agreement of the parties with respect to the subject matter hereof
and supersedes any and all prior agreements or understandings, written or oral,
between the parties with respect to the subject matter hereof.  No
interpretation, change, termination or waiver of or extension of time for
performance under any provision of this Agreement shall be binding upon any
party unless in writing and signed by the party intended to be bound
thereby.  Except as otherwise provided in this Agreement, no waiver of
or other failure to exercise any right under or default or extension of time for
performance under any provision or this Agreement shall affect the right of any
party to exercise any subsequent right under or otherwise enforce said provision
or any other provision hereof or to exercise any right or remedy in the event of
any other default, whether or not similar.

     

    16.           Severability. The
parties acknowledge that, in their view, the terms of this Agreement are fair
and reasonable as of the date signed by them, including as to the scope and
duration of post-termination activities.  Accordingly, if any one or
more of the provisions contained in this Agreement shall for any reason, whether
by application of existing law or law which may develop after the date of this
Agreement, be determined by an arbitrator or court of competent jurisdiction to
be excessively broad as to scope of activity, duration or territory, or
otherwise unenforceable, the parties hereby jointly request such court to
construe any such provision by limiting or reducing it so as to be enforceable
to the maximum extent in favor of the Company compatible with then-applicable
law.  If any one or more of the terms, provisions, covenants or
restrictions of this Agreement shall nonetheless be determined by an arbitrator
or court of competent jurisdiction to be invalid, void or unenforceable, then
the remainder of the terms, provisions, covenants and restrictions of this
Agreement shall remain in full force and effect and shall in no way be affected,
impaired or invalidated.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    17.           Assignment.  The
Company may, at its election, assign this Agreement or any of its rights
hereunder.  This Agreement may not be assigned by the
Executive.

     

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

     

    19.           Arbitration.  Each
of the parties hereby irrevocably and unconditionally consents to arbitrate any
dispute arising out of or relating in any manner to this Agreement or the
employment relationship contemplated hereby or the termination thereof, or any
alleged breach of any term or provision of this Agreement.  Such
arbitration shall be conducted in Marion County, Indiana by a single arbitrator
in accordance with the employment dispute resolution rules of the American
Arbitration Association then in effect.  Judgment may be entered on
the arbitrator’s award in any federal or state court in Indiana (and the parties
expressly consent to the jurisdiction of such court), or in any other court
having jurisdiction.  The Company shall be responsible for, and shall
pay, 75% of all costs and expenses of any arbitration hereunder, including,
without limitation, all costs, fees and expenses of the American Arbitration
Association and arbitrator.  The Executive shall be responsible for,
and shall pay, 25% of all costs and expenses of any arbitration hereunder,
including, without limitation, all costs, fees and expenses of the American
Arbitration Association and arbitrator.  Each of the Parties agrees
that in any arbitration arising out of or relating to this Agreement or the
employment relationship contemplated hereby or the termination thereof, or any
alleged breach of any term or provision of this Agreement or in any action to
enter judgment on an award in such arbitration each party shall bear its own
fees and expenses.

     

    20.           Survival.  The
provisions of Sections 9 through 19 of this Agreement shall survive any
expiration or termination of this Agreement.

     

    21.           Equity
Commitment.  Upon executing this Agreement, the Executive shall
be issued options to purchase 80,000 shares of common stock of the Company,
one-third of which shall vest on each of the next three (3) anniversaries of the
date hereof, such options to be evidenced by a Stock Option Agreement
substantially in the form attached hereto as Exhibit B pursuant to
the Republic Airways Holdings Inc. 2007 Equity Incentive Plan, by and between
the Company and the Executive.  The options shall expire ten (10)
years following voluntary separation or termination of the Agreement or the
Executive’s employment with the Company other than for Cause.  Upon
executing this Agreement, the Executive also shall be granted 40,000 shares of
restricted stock at a price per share equal to the par value thereof, which
shall vest on each of the next three (3) anniversaries of the date hereof, such
restricted stock grants to be evidenced by a Restricted Stock Purchase Agreement
substantially in the form attached hereto as Exhibit C pursuant to
the Republic Airways Holdings Inc. 2007 Equity Incentive Plan, by and between
the Company and the Executive.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    22.           Options Under Prior
Agreement.  The vesting of any options to purchase stock of the
Company previously granted to the Executive under the terms of the Prior
Agreement or any agreement entered into contemporaneously with the Prior
Agreement shall be governed by the terms of such agreement notwithstanding any
provision of this Agreement.

     

    23.           Indemnification.  The
Company shall, to the fullest extent allowed by law, defend, indemnify and hold
harmless the Executive from and against any and all demands, claims, suits,
liabilities, actions asserted or brought against the Executive or in which the
Executive is made a party, including, without limitation, all litigation costs
and attorneys’ fees incurred by the Executive or judgments rendered against the
Executive, in connection with any matter arising within the course and scope of
Executive’s employment with the Company or service as an officer, director or
manager of the Company or any of the Subsidiaries.  The right of the
Executive to indemnification hereunder shall vest at the time of occurrence or
performance of any event, act or omission giving rise to any demand, claim,
suit, liability, action or legal proceeding of the nature referred to in this
Section 23 and, once vested, shall survive the termination of Executive’s
employment with the Company for any reason.

     

    24.           Section 409A
Compliance.

     

    (a)           Any
payments conditioned upon a termination of the Executive’s employment will be
deemed to be conditioned upon the Executive’s separation from service within the
meaning of Treasury Regulation Section 1.409A-1(h) and will be construed and
interpreted accordingly.  If the Executive is a “specified employee”
within the meaning of Treasury Regulation Section 1.409A-1(i) as of the date of
the Executive’s separation from service, then the Executive shall not be
entitled to any severance payments or other benefits pursuant to this Agreement
until the earlier of (i) the date which is six months after the date of the
Executive’s separation from service, or (ii) the date of the Executive’s
death.  This paragraph shall only apply if, and to the extent required
in order to comply with Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), and Treasury Regulation Section
1.409A-3(i)(2).  Any amounts otherwise payable to the Executive upon
or in the six-month period following the Executive’s separation from service
that are not so paid by reason of this paragraph shall be paid to the Executive
(or the Executive’s estate, as the case may be) as soon as practicable (and in
all events within twenty days) after the expiration of such six-month period or
(if applicable, the date of the Executive’s death).

     

    (b)           Any
taxable reimbursement of expenses payable to the Executive shall be paid to the
Executive on or before the last day of the Executive’s taxable year following
the taxable year in which the related expense was incurred.  Expense
reimbursements and in-kind benefits provided to the Executive shall not be
subject to liquidation or exchange for another benefit and the amount of such
reimbursements or in-kind benefits that the Executive receives in one taxable
year shall not affect the amount of such reimbursements or benefits that the
Executive may receive in any other taxable year.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    (c)           It
is intended that any amounts payable under this Agreement and the Company’s and
the Executive’s exercise of any authority or discretion hereunder shall comply
with, and avoid the imputation of any tax, penalty or interest under Section
409A of the Code.  This Agreement shall be construed and interpreted
consistent with that intent.  Should the Company pay the Executive
contrary to clause (i) or (ii) of Section 24(a) above, the Company shall
indemnify the Executive for any taxes due thereon as a result.

     

    [Remainder
of page intentionally left blank]

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

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

     

    
      
        	 	REPUBLIC
      AIRWAYS HOLDINGS, INC.	 
	 	 	 	 
	
                 

              	
                By:
      

              	   	 
	 	 	Name:
      David N. Siegel	 
	 	 	      
                Title:   Chairman
      of the Compensation Committee of the Board of
    Directors

              	 
	 	 	 	 

      

    

    
      
        	 	
              	 
	 	 	WAYNE
      C. HELLER	 
	
              	
              	   	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

      

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    EXHIBIT
A

     

    FORM
OF RELEASE

     

    In
exchange for the payments and benefits set forth in the Third Amended and
Restated Employment Agreement between Republic Airways Holdings Inc. (the “Company”) and me
dated November 2, 2010 (the “Agreement”), and to
be provided following the Effective Date (as defined below) of this General
Release and subject to the terms of the Agreement, and my execution (without
revocation) and delivery of this General Release:

     

    1.           (a)           On
behalf of myself, my agents, assignees, attorneys, heirs, executors and
administrators, I hereby release the Company and its predecessors, successors
and assigns, their current and former parents, affiliates, subsidiaries,
divisions and joint ventures (collectively, the “Company Group”) and
all of their current and former officers, directors, employees, and agents, in
their capacity as Company Group representatives (individually and collectively,
“Releasees”)
from any and all controversies, claims, demands, promises, actions, suits,
grievances, proceedings, complaints, charges, liabilities, damages, debts,
taxes, allowances, and remedies of any type, including but not limited to those
arising out of my employment with the Company Group (individually and
collectively, “Claims”) that I may
have by reason of any matter, cause, act or omission.  This release
applies to Claims that I know about and those I may not know about occurring at
any time on or before the date of execution of this General
Release.

     

    (b)           This
General Release includes a release of all rights and Claims under, as amended,
Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment
Act of 1967, the Rehabilitation Act of 1973, the Civil Rights Acts of 1866 and
1991, the Americans with Disabilities Act of 1990, the Employee Retirement
Income Security Act of 1974, the Equal Pay Act of 1963, the Family and Medical
Leave Act of 1993, the Older Workers Benefit Protection Act of 1990, the
Occupational Safety and Health Act of 1970, the Worker Adjustment and Retraining
Notification Act of 1989 and the Sarbanes-Oxley Act of 2002, as well as any
other federal, state, or local statute, regulation, or common law regarding
employment, employment discrimination, termination, retaliation, equal
opportunity, or wage and hour.  I specifically understand that I am
releasing Claims based on age, race, color, sex, sexual orientation or
preference, marital status, religion, national origin, citizenship, veteran
status, disability and other legally protected categories.

     

    (c)           This
General Release also includes a release of any Claims for breach of contract,
any tortious act or other civil wrong, attorneys’ fees, and all compensation and
benefit claims including without limitation Claims concerning salary, bonus, and
any award(s), grant(s), or purchase(s) under any equity and incentive
compensation plan or program.

     

    (d)           In
addition, I am waiving my right to pursue any Claims against the Company Group
and Releasees under any applicable dispute resolution procedure, including any
arbitration policy.

     

    I
acknowledge that this General Release is intended to include, without
limitation, all Claims known or unknown that I have or may have against the
Company Group and Releasees through the Effective Date of this General
Release.  Notwithstanding anything herein, I expressly reserve and do
not release pursuant to this General Release (and the definition of “Claims”
will not include) (i) my rights with respect to the enforcement of the
Agreement, including but not limited to the right to receive Severance
Compensation (as defined in the Agreement), if any, and other payments, benefits
and indemnifications specified in the Agreement, (ii) any rights or interest
under any Benefit Plans (as defined in the Agreement), (iii) any right to
indemnification pursuant to the Company’s Certificate of Incorporation or
By-laws as in effect on the date hereof, (iv) the protections of the Company
Group’s directors and officers liability insurance, if any, in each case, to the
same extent provided to other senior executives of the Company, (v) any claims
and rights that cannot be waived by law, (vi) the vesting and exercise of any
equity grant pursuant to the terms of the applicable equity award agreement or
the applicable equity incentive plan, (vii) any rights as a stockholder of the
Company, and (viii) any rights under Sections 12 and 13 of the Agreement
following termination of employment.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    2.           I
acknowledge that I have had at least 21 calendar days from the date of my
termination of employment with the Company (the “Termination Date”) to
consider the terms of this General Release, that I have been advised to consult
with an attorney regarding the terms of this General Release prior to executing
it, that I have consulted with my attorney, that I fully understand all of the
terms and conditions of this General Release, that I understand that nothing
contained herein contains a waiver of claims arising after the date of execution
of this General Release, and I am entering into this General Release knowingly,
voluntarily and of my own free will.  I further understand that my
failure to sign this General Release and return such signed General Release to
the Company, 8909 Purdue Road, Suite 300, Indianapolis, IN 46268 by 5:00 pm on
the 22nd day
after the Termination Date will render me ineligible for the payments and
benefits described herein and in the Agreement.

     

    3.           I
understand that once I sign and return this General Release to the Company, I
have 7 calendar days to revoke it.  I may do so by delivering to the
Company, 8909 Purdue Road, Suite 300, Indianapolis, IN 46268 written notice of
my revocation within the 7-day revocation period (the “Revocation
Period”).  This General Release will become effective on the
8th
day after I sign and return it to the Company (“Effective Date”);
provided that I have not revoked it during the Revocation Period.

     

    YOU ARE
HEREBY ADVISED BY THE COMPANY TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS
GENERAL RELEASE.

     

    I HAVE
READ THIS GENERAL RELEASE AND UNDERSTAND ALL OF ITS TERMS. I SIGN AND ENTER THIS
GENERAL RELEASE KNOWINGLY AND VOLUNTARILY, WITH FULL KNOWLEDGE OF WHAT IT
MEANS.

     

    WAYNE C. HELLER

     

    

     

    __________________________________________

     

    Date:
_____________________________________

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    EXHIBIT
B

     

    FORM
OF STOCK OPTION AGREEMENT

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    EXHIBIT
C

     

    FORM
OF RESTRICTED STOCK PURCHASE AGREEMENT

     

    
      
         

      

      
        14AGREEMENT
FOR THE PURCHASE OF COMMON STOCK

     

    THIS
PURCHASE AGREEMENT,  (this “Agreement”) made this 28th  day
of October, 2010, by and between Kenneth S. Barton, an
individual (“Seller”), I-Web
Media, Inc., a Delaware corporation (the “Company” or “I-Web”), and Rockland Group, LLC,
a Texas limited liability company (“Purchaser”), setting forth the
terms and conditions upon which Sellers will sell to Purchasers and Purchasers
will buy from Sellers certain securities (the “Securities”) consisting of
Ten Million (10,000,000) shares of I-Web Media, Inc. common stock (the “Shares”).  Together
the Seller, Masters and the Purchaser are referred to herein as the “Parties.”

     

    In consideration of the mutual
promises, covenants, and representations contained herein, THE PARTIES HERETO
AGREE AS FOLLOWS:

    

    WITNESSETH

    

    WHEREAS, the Seller owns 10,000,000
shares of common stock of the Company, representing approximately 90% of the
issued and outstanding stock of the Company;

    

    WHEREAS,
the Seller desires to sell, and the Purchaser desires to purchase, the Shares in
accordance with the terms set forth herein;

    

    WHEREAS,
the Parties desire and intend that the transactions contemplated by this
Agreement will be a tax free reorganization under Section 368(a)(1)(B) of the
Internal Revenue Code of 1986, as amended.

    

    WHEREAS,
the Partiess have appointed Jody M. Walker Attorney At
Law, to act as the Escrow Agent ("Escrow Agent") for this
transaction and to receive and hold all consideration received from the
Purchasers for the sale of the Shares and all documents, stock certificates,
stock powers and corporate records of I-Web, in the Jody M. Walker Attorney at
Law COLTAF Trust Account, unless other arrangements are agreed to by the
Parties.

    

    WHEREAS,
the Parties and Escrow Agent, have entered into an ESCROW AGREEMENT dated
October 28, 2010, a copy of which is attached hereto as Exhibit
A.

    

    NOW
THEREFORE, in consideration of the premises and respective mutual agreements,
covenants, representations and warranties herein contained, it is agreed between
the Parties hereto as follows:

    

    ARTICLE
I

    SALE
OF SECURITIES

    

    1.01           Subject
to the terms and conditions of this Agreement, and the representation and
warranties contained herein, the Seller agrees to sell the Shares to the
Purchaser for a total of Two Hundred Fifty Thousand Dollars (U.S.) ($250,000)
(the “Purchase Price”).  This is a private transaction between the
Seller and Purchaser.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    1.02           The
Seller and Purchaser hereby appoint Jody M. Walker, Attorney At Law, to act as
the Escrow Agent as to the distribution of the Funds received for the sale of
the Shares and distribution of the shares and documents of I-Web to be held in
the Escrow Account, unless it is agreed by the Parties that the documents and
certificates shall be distributed to the Purchaser in another way.

    

    1.03           Payment:    The
Parties agree that the full Purchase Price of Two Hundred Fifty Thousand Dollars
($250,000) has been or will be wired on or before November 2, 2010 (the “Closing
Date”), to the Jody M. Walker COLTAF Trust Account (“Escrow Account”). Of this
sum, Two Hundred Twenty-Five Thousand Dollars ($225,000) is fully refundable
(less escrow and wire transfer fees) for any reason or for no reason until the
close of the transaction.

    

    ARTICLE
II

    REPRESENTATIONS
AND WARRANTIES

    

    To induce
the Purchaser to enter into this Agreement and to consummate the transactions
contemplated hereby, the Seller and the Company represent and warrant as of the
date hereof and as of the Closing, as follows:

    

    2.01           Organization;     I-Web
is a Delaware corporation duly organized, validly existing, and in good standing
under the laws of that state, has all necessary corporate powers to own
properties and carry on a business, and is duly qualified to do business and is
in good standing in the state of Delaware and elsewhere.  All actions
taken by the incorporators, directors and/or shareholders of I-Web have been
valid and in accordance with the laws of the state of Delaware.  The
Company is a fully reporting company under the Securities and Exchange Act of
1934, as amended (the “’34
Act”), public company listed on the OTC Bulletin Board, and has been
assigned the trading symbol of IWBM.  After the Purchase, the
Purchaser of the Shares shall file the appropriate filing(s) disclosing the
acquisition of the Shares by the Purchaser (”Disclosure Document”).

    

    The
Company was validly created pursuant to that certain Joint Debtors Plan of
Reorganization approved by the U.S. Bankruptcy Court, Central District of
California (Case No.:  1:08-bk-16944-GM) in the matter of In Re Corporate
Services, Inc. (the
“Bankruptcy Case”). The Court ordered this subsidiary/affiliate to be
newly incorporated and ordered it to issue stock and warrants, with some to be
free of all restrictions pursuant to Section 1145 of Title 11 of the United
States Bankruptcy Code.

    

    2.02           Capital.   The
authorized capital stock of I-Web consists of 100,000,000 shares of Common
Stock, $0.0001 par value, and 20,000,000 shares of Preferred Stock, $0.0001 par
value, of which approximately 11,125,000 shares of Common Stock and no shares of
Preferred Stock are issued and outstanding.  All outstanding shares
and warrants are fully paid and non-assessable, free of liens, encumbrances,
options, restrictions and legal or equitable rights of others not a party to
this Agreement.  In addition there are 5,000,000 warrants outstanding,
each to purchase one share of Common Stock. The warrants are denominated as
follows: 1,000,000 “A” warrants exercisable at $1.00 each; 1,000,000 “B”
warrants exercisable at $2.00 each; 1,000,000 “C” warrants exercisable at $3.00
each; 1,000,000 “D” warrants exercisable at $4.00 each; 1,000,000 “E” warrants
exercisable at $5.00 each. At the Closing, there will be no outstanding
subscriptions, options, rights, warrants, convertible securities, or other
agreements or commitments obligating I-Web to issue or to transfer from treasury
any additional shares of its capital stock other than the warrants described
above.  None of the outstanding Shares of I-Web are subject to any
stock restriction agreements.  There are approximately 95 shareholders
of record of I-Web. All of such shareholders have valid title to such Shares and
acquired their Shares in a lawful transaction and in accordance with Delaware
corporate law and the applicable securities laws and bankruptcy laws of the
United States.  Of the 11,125,000 shares of common stock of the
Company, 1,000,000 shares, and all the shares underlying the warrants described
herein, were validly issued pursuant to an exemption from registration provided
by Section 1145 of Title 11 of the United States Bankruptcy Code and, as a
result, are freely tradeable (see Exhibit
B).

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    2.03           Subsidiaries.  “Subsidiary” or “Subsidiaries” means all
corporations, trusts, partnerships, associations, joint ventures or other
Persons, as defined below, of which a corporation or limited liability company
or any other Subsidiary of such corporation or limited liability company owns
not less than twenty percent (20%) of the voting securities or other equity or
of which such corporation or limited liability company or any other Subsidiary
of such corporation or limited liability company possesses, directly or
indirectly, the power to direct or cause the direction of the management and
policies, whether through ownership of voting shares, management contracts or
otherwise.  “Person” means any individual,
corporation, trust, association, partnership, proprietorship, joint venture or
other entity.  The Company has no subsidiaries.

    

    2.04           Financial
Statements.   The Company has audited financial statements
and more recent unaudited financial statements which can be found on Edgar in
the last Form 10 and 10-Q that were filed.

    

    2.05       
  Filings
with Government Agencies.  I-Web is a reporting company and is
current in its annual and quarterly reports with the SEC.  The Company
recently filed a 10-Q with the SEC with unaudited financial statements covering
the period ended June 30, 2010.  I-Web has made all filings with the
state of Delaware that might be required.  Upon the purchase of the
Shares by the Purchasers, those Purchasers will have the full responsibility for
filing any and all documents required by the Securities and Exchange Commission,
and/or any other government agency that may be required.  The Seller
will supply the Purchaser with all information that is currently available for
the Company.  After the Closing, the Purchaser understand that the
Seller will have no responsibility whatsoever for any filings made by the
Company in the future, either with the SEC, FINRA, DTC or the State of
Delaware.

    

    2.06           Liabilities.  It
is understood and agreed that the purchase of the Common Stock is predicated on
I-Web not having any liabilities at closing, and the Company will not, as of
Closing, have any debt, liability, or obligation of any nature, whether accrued,
absolute, contingent, or otherwise that will not be paid by the Company or the
Seller at Closing.  The Seller is not aware of any pending, threatened
or asserted claims, lawsuits or contingencies involving the Company or its
securities. To the best of knowledge of the Sellers, there is no dispute of any
kind between I-Web and any third party, and no such dispute will exist at the
Closing of this transaction, and at the Closing, I-Web will be free from any and
all liabilities, liens, claims and/or commitments.  The Seller agrees
to indemnify the Purchaser against any past liabilities pertaining to its
conduct of business that should arise within six (6) months of
closing.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    2.07           Tax
Returns.  I-Web has had no business activity and has not filed
either federal income tax returns or state income tax returns, but is current
with the State of Delaware Franchise tax.  As of closing, there shall
be no taxes of any kind due or owing.  The Seller agrees to assist the
Purchaser and the Company with the preparation of the Company’s tax returns by
providing any information reasonably needed by the preparer of the tax
returns.

    

    2.08           Ability to Carry Out
Obligations.  The Seller has the right, power, and authority to
enter into, and perform their obligations under this Agreement.  The
execution and delivery of this Agreement by the Seller and the performance by
the Seller of his obligations hereunder will not cause, constitute, or conflict
with or result in (a) any breach or violation of any of the provisions of or
constitute a default under any license, indenture, mortgage, charter,
instrument, articles of incorporation, bylaws, or other agreement or instrument
to which I-Web the officers, directors or Sellers are a party, or by which they
may be bound, nor will any consents or authorizations of any party other than
those hereto be required, (b) an event that would cause I-Web (and/or assigns)
to be liable to any party, or (c) an event that would result in the creation or
imposition of any lien, charge, or encumbrance on any asset of I-Web or upon the
Shares.

    

    2.09           Contracts, Leases and
Assets.  I-Web is not a party to any contract, agreement or
lease other than its agreement with its stock transfer agent (unless such
contract, agreement or lease has been assigned to another party or I-Web has
been released from its obligations thereunder).  No person holds a
power of attorney from I-Web or the Seller.  At the Closing, I-Web
will have no assets or liabilities.

    

    2.10           Guaranties.  The
Company has not guaranteed any dividend, obligation or indebtedness of any
person or legal entity; nor has any person or legal entity guaranteed any
dividend, obligation or indebtedness of the Company.

    

    2.11           Compliance with
Laws.  To the best of knowledge of the Seller, I-Web has
complied in all material respects, with, and is not in violation of any,
federal, state, or local statute, law, and/or regulation
pertaining.  To the best of the knowledge of the Sellers, I-Web has
complied with all federal and state securities laws in connection with the
offer, sale and distribution of its securities.  At the time that
I-Web sold Shares to the Seller, the Company was entitled to use the exemptions
provided by the Securities Act of 1933 and/or the exemption provided by Section
1145 of the Bankruptcy Code relative to the sale of its securities, including,
but not limited to, the Shares.  The Shares being sold herein are
being sold in a private transaction between the Seller and the Purchaser, and
the Sellers make no representation as to whether the Shares are subject to
trading restrictions under the Securities Act of 1933, as amended and rules
thereunder.

    

    2.12           Litigation.  To
the best of the knowledge of the Sellers, I-Web is not a party to any suit,
action, arbitration, or legal administrative, or other proceeding, or pending
governmental investigation. To the best knowledge of the Seller, there is no
basis for any such action or proceeding and no such action or proceeding is
threatened against I-Web.  I-Web is not a party to or in default with
respect to any order, writ, injunction, or decree of any federal, state, local,
or foreign court, department, agency, or instrumentality.

    

    2.13           Conduct of
Business.  Prior to the Closing, I-Web shall conduct its
business in the normal course, and shall not (without the prior written approval
of Purchaser) (i) sell, pledge, or assign any assets, (ii) amend its Certificate
of Incorporation or Bylaws, (iii) declare dividends, or redeem, sell, or issue
any stock or other securities (iv) incur any liabilities, except in the normal
course of business, (v) acquire or dispose of any assets, enter into any
contract, guarantee obligations of any third party, or (vi) enter into any other
transaction.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    2.14           Books and
Records.  The Company keeps its books, records and accounts
(including, without limitation, those kept for financial reporting purposes and
for tax purposes) in accordance with good business practice and in sufficient
detail to reflect the transactions and dispositions of their assets, liabilities
and equities.  The minute books of the Company contain records of
their shareholders’ and directors’ meetings and of action taken by such
shareholders and directors.  The meetings of directors and
shareholders referred to in such minute books were duly called and held, and the
resolutions appearing in such minute books were duly adopted.  The
signatures appearing on all documents contained in such minute books are the
true signatures of the persons purporting to have signed the
same.  Attached hereto as Exhibit C is a list
of all contracts to which the Company is a party or obligated as of the Closing
Date, and the Company hereby represents and warrants that there are no other
material contracts or agreements in existence as of the Closing
Date.

    

    2.15           Closing
Documents.   All articles, bylaws, minutes, consents or
other documents pertaining to I-Web to be delivered at the Closing shall be
valid and in accordance with the laws of Delaware.

    

    2.16           Title.   The
Seller has good and marketable title to all of the Shares being sold by him to
the Purchaser pursuant to this Agreement.  The securities will be, at
the Closing, free and clear of all liens, security interests, pledges, charges,
claims, encumbrances and restrictions of any kind, except for restrictions on
transfer imposed by federal and state securities laws.  None of the
securities are or will be subject to any voting trust or
agreement.  No person holds or has the right to receive any proxy or
similar instrument with respect to such securities.  Except as
provided in this Agreement, the Seller is not a party to any agreement which
offers or grants to any person the right to purchase or acquire any of the
securities.  There is no applicable local, state or federal law, rule,
regulation, or decree which would, as a result of the purchase of the securities
by purchasers (and/or assigns) impair, restrict or delay voting rights with
respect to the securities.

    

    2.17       
   Transfer of
Shares.  The Seller will have the responsibility for sending
all certificates representing the Shares, along with the proper Stock Powers
with Bank Signature Guarantees and assignments acceptable to the Escrow Agent
for delivery to the Purchaser, or shall make other arrangements for delivery
acceptable to Purchaser.

    

    The
Purchaser will have the responsibility of sending the certificates, along with
stock powers to the Transfer Agent for the Company to have the certificates
changed into their respective names and denominations and the Purchaser shall be
responsible for all costs involved in such changes and in mailing new
certificates to all shareholders.

    

    2.18           Representations.  All
representations shall be true as of the Closing and all such representations
shall survive the Closing.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    ARTICLE
III

    CLOSING

    

    3.01           Closing for the Purchase of
Common Stock and Warrants.  The Closing (the “Closing”) of this
transaction for the purchase of the Shares  will occur when all of the
documents and consideration described in 3.02 below, have been delivered, or
other arrangements made and agreed to.  Unless the Closing of this
transaction takes place on or before October 29, 2010, then either party may
terminate this Agreement.

    

    If this
Agreement is terminated due to the failure of the Seller to provide the
documents specified in Section 3.02 below, then all consideration paid by the
Purchaser shall be returned to the Purchaser.

    

    3.02           Documents and Payments to be
Delivered at Closing of the Common Stock Purchase.  As part of
the Closing of the purchase of the Shares , the following documents, in form
reasonably acceptable to counsel to the Parties, shall be
delivered:

    

    (a)          By
the Sellers:

    

    (i)         
  Certificate of Incorporation and all amendments
thereto;

    

    (ii)        
  Bylaws and all amendments thereto;

    

    (iii)       
  Minutes and Consents of Shareholders;

    

    (iv)       
  Minutes and Consents of the board of directors;

    

    (v)        
  List of officers and directors;

    

    (vi)        
 Evidence of Good Standing with the Secretary of State of
Delaware;

    

    
      (vii)       
 Current
Shareholder list from the Transfer Agent;

    

    

    
      	
               
      

            	
              (viii)

            	
              True
      and correct copies of all of the business records of I-Web, including but
      not limited to correspondence files and agreements and
      contracts;

            

    

    

    
      	
               
      

            	
              (ix)

            	
              Stock
      certificates along with stock powers with medallion-guarantees acceptable
      to the transfer agent, representing the Shares (10,000,000 shares of
      common stock of the Company), endorsed in favor of the name or names as
      designated by Purchaser or left
blank;

            

    

    

    
      	
               
      

            	
              (x)

            	
              Board
      of directors resolution appointing a new President, Secretary and
      Treasurer of the Company as designated by Purchaser, and the acceptance of
      all resignations of all officers of
I-Web;

            

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (xi)

            	
              Resignations
      of all officers of I-Web;

            

    

    

    
      	
               
      

            	
              (xii)

            	
              Board
      of directors resolution appointing new director(s) of I-Web as designated
      by  the Purchaser and the resignation of all its current
      directors (the resignation of one of the current directors will not be
      effective until the applicable waiting period for a Schedule 14f-1 or
      Schedule 14-C Information Statement, filed by the Company, has
      run;

            

    

    

    
      	
               
      

            	
              (xiii)

            	
              Board
      of directors resolution approving the signing of this Agreement by the
      Company and confirming the representations and warranties of the Company
      in this Agreement; and

            

    

    

    
      	
               
      

            	
              (xiv)

            	
              Such
      other documents of I-Web as may be reasonably required by Purchaser, if
      available.

            

    

    

    (b)          By
Purchasers:

    

    (i)           Wire
transfer to the Jody M. Walker Attorney At Law COLTAF Trust Account the amount
of $250,000, representing the total Purchase Price for the Shares.

    

    WIRE TRANSFER
INSTRUCTIONS

    

    First Bank of Colorado

    P.O. Box 4667

    Englewood, CO 80155

    303-274-5000

    ABA#107005047

    

    For the account of:

    

    Jody M. Walker

    Coltaf Trust Account

    7841 South Garfield Way

    Centennial, CO 80122

    Account #4190517461

    

    3.03           Conditions
Precedent.  This Agreement, and the transactions contemplated
hereby, shall be subject to the following conditions precedent:

    

    The
obligation of the Purchaser to pay the Purchase Price shall be subject to the
fulfillment (or waiver by the Purchaser), at or prior to the Closing or the
applicable delivery date thereof, of the following conditions, which the Seller
and the Company agree to use their best efforts to cause to be
fulfilled:

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (a)           Representations,
Performance.  If the Closing Date is not the date hereof, the
representations and warranties contained in Article 2 hereof shall be true at
and as of the date hereof and shall be repeated and shall be true at and as of
the Closing Date with the same effect as though made at and as of the Closing
Date, except as affected by the transactions contemplated hereby; the Seller and
the Company shall have duly performed and complied with all agreements and
conditions required by this Agreement to be performed or complied with by it
prior to or on the Closing Date.

    

    (b)           Consents.  Any
required consent to the transactions contemplated by this Agreement shall have
been obtained or waived.

    

    (c)           Litigation.  No
suit, action, arbitration or other proceeding or investigation shall be
threatened or pending before any court or governmental agency in which it is
sought to restrain or prohibit or to obtain material damages or other material
relief in connection with this Agreement or the consummation of the transactions
contemplated hereby or which is likely to affect materially the value of the
Shares or the Company.

    

    (d)           Proceedings and
Documentation.  All corporate and other proceedings of the
Company in connection with the transactions contemplated by this Agreement, and
all documents and instruments incident to such corporate proceedings, shall be
satisfactory in form and substance to the Purchaser and the Purchaser’s counsel,
and the Purchaser and the Purchaser’s counsel shall have received all such
receipts, documents and instruments, or copies thereof, certified if requested,
to which the Purchaser is entitled and as may be reasonably
requested.

    

    (e)           Property
Loss.  No portion of I-Web’s assets shall have been destroyed
or damaged or taken by condemnation under circumstances where the loss thereof
will not be substantially reimbursed to the Purchaser through the proceeds of
applicable insurance or condemnation award.

    

    (f)           Consents and
Approvals.  All material licenses, permits, consents,
approvals, authorizations, qualifications and orders of governmental or
regulatory bodies which are (1) necessary to enable the Purchaser to fully
operate the business of I-Web as contemplated from and after the Closing shall
have been obtained and be in full force and effect, or (2) necessary for the
consummation of the transactions contemplated hereby, shall have been
obtained.  Any notices to or consents of any party to any agreement or
commitment constituting part of the transactions contemplated hereby, or
otherwise required to consummate any such transactions, shall have been
delivered or obtained.

     

    ARTICLE
IV

    INVESTMENT
INTENT

    

    4.01           Transfer
Restrictions.  The Purchaser (and/or assigns) agrees that the
securities being acquired pursuant to this Agreement may be sold, pledged,
assigned, hypothecated or otherwise transferred, with or without consideration
(“Transfer”) only pursuant to an effective registration statement under the
Securities Act of 1933, as amended (the “Act”), or pursuant to an exemption from
registration under the Act.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    4.02.          Investment
Intent.  The Purchaser is acquiring the Shares for their own
account for investment, and not with a view toward distribution
thereof.

    

    4.03.          No
Advertisement.   The Purchaser acknowledges that the
Shares have been offered to them in direct communication between them and
Seller, and not through any advertisement of any kind.

    

    4.04.          Knowledge and
Experience.   (a) The Purchaser acknowledges that it hass
been encouraged to seek their own legal and financial counsel to assist them in
evaluating this purchase. The Purchaser acknowledges that Seller has given them
and all of their counselors access to all information relating to I-Web’s
business that they or any one of them have requested. The Purchaser acknowledges
that it has sufficient business and financial experience, and knowledge
concerning the affairs and conditions of I-Web so that they can make a reasoned
decision as to this purchase of the Shares and are capable of evaluating the
merits and risks of this purchase.

    

    4.05.          Restrictions on
Transferability.   The Purchasers are aware of the
restrictions on transferability of the Shares and further understand the
certificate representing these shares shall bear the following
legend.

    

    (a) THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), IN RELIANCE UPON THE
EXEMPTION FROM REGISTRATION PROVIDED IN SECTIONS 4(1) AND 4(2) AND REGULATION D
UNDER THE ACT. AS SUCH, THE PURCHASE OF THIS SECURITY WAS MADE WITH THE INTENT
OF INVESTMENT AND NOT WITH A VIEW FOR DISTRIBUTION. THEREFORE, ANY SUBSEQUENT
TRANSFER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE UNLAWFUL UNLESS IT IS
REGISTERED UNDER THE ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS
AVAILABLE.

    

    (b) The
Purchaser understands that these Shares may only be disposed of pursuant to
either (i) an effective registration statement under the Act, or (ii) an
exemption from the registration requirements of the Act.

    

    (c) I-Web
and/or Seller has neither filed such a registration statement with the SEC or
any state authorities nor agreed to do so, nor contemplates doing so in the
future, and in the absence of such a registration statement or exemption, the
Purchaser may have to hold the Shares indefinitely and may be unable to
liquidate them in case of an emergency.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    ARTICLE
V

    COVENANTS,
INDEMNIFICATION

    

    5.01           To
induce the Purchaser to enter into this Agreement and to consummate the
transactions contemplated hereby, and without limiting any covenant, agreement,
representation or warranty made, the Seller and the Company covenant and agree
as follows:

    

    (a)           Notices and
Approvals.  The Company and the Seller agree: (a) to give all
notices to third parties which may be necessary or deemed desirable by the
Purchaser in connection with this Agreement and the consummation of the
transactions contemplated hereby; (b) to use their best efforts to obtain all
federal and state governmental regulatory agency approvals, consents, permit,
authorizations, and orders necessary or deemed desirable by the Purchaser in
connection with this Agreement and the consummation of the transactions
contemplated hereby; and (c) to use their best efforts to obtain all consents
and authorizations of any other third parties necessary or deemed desirable by
the Purchaser in connection with this Agreement and the consummation of the
transactions contemplated hereby.

    

    (b)           Information for the
Purchaser’s Statements and Applications.  The Seller and the
Company and their employees, accountants and attorneys shall cooperate fully
with the Purchaser in the preparation of any statements or applications made by
the Purchaser or the Company to any federal or state governmental regulatory
agency in connection with this Agreement and the transactions contemplated
hereby and to furnish the Purchaser with all information concerning the Company
and the Seller necessary or deemed desirable by the Purchaser for inclusion in
such statements and applications, including, without limitation, all requisite
financial statements and schedules.

    

    (c)           Access to
Information.  The Purchaser, together with his appropriate
attorneys, agents and representatives, shall be permitted to make the full and
complete investigation of the Seller and the Company and have full access to all
of the books and records of the other during reasonable business
hours.  Notwithstanding the foregoing, such parties shall treat all
such information as confidential and shall not disclose such information without
the prior consent of the other.

    

    ARTICLE
VI

    REMEDIES

    

    6.01           Arbitration.   Any
controversy or claim arising out of, or relating to, this Agreement, or the
making, performance, or interpretation thereof, shall be settled by arbitration
in Texas in accordance with the Rules of the U.S. Arbitration Association then
existing, and judgment on the arbitration award may be entered in any court
having jurisdiction over the subject matter of the controversy.

    

    6.02           Termination.  In
addition to any other remedies, the Purchaser may terminate this Agreement, if
at the Closing, the Seller has failed to comply with all material terms of this
Agreement have failed to supply any documents required by this Agreement unless
they do not exist, or have failed to disclose any material facts which could
have a substantial effect on any part of this transaction.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    6.03           Indemnification.  From
and after the Closing, the Parties, jointly and severally, agree to indemnify
the other against all actual losses, damages and expenses caused by (i) any
material breach of this Agreement by them or any material misrepresentation
contained herein, or (ii) any misstatement of a material fact or omission to
state a material fact required to be stated herein or necessary to make the
statements herein not misleading.

    

    6.04           Indemnification
Non-Exclusive.  The foregoing indemnification provision is in
addition to, and not derogation of any statutory, equitable or common law remedy
any party may have for breach of representation, warranty, covenant or
agreement.

    

    ARTICLE
VII

    MISCELLANEOUS

    

    7.01           Captions and
Headings.  The article and paragraph headings throughout this
Agreement are for convenience and reference only, and shall in no way be deemed
to define, limit, or add to the meaning of any provision of this
Agreement.

    

    7.02           No Oral
Change.  This Agreement and any provision hereof, may not be
waived, changed, modified, or discharged, orally, but only by an agreement in
writing signed by both Parties.

    

    7.03           Non
Waiver.  Except as otherwise expressly provided herein, no
waiver of any covenant, condition, or provision of this Agreement shall be
deemed to have been made unless expressly in writing and signed by the party
against whom such waiver is charged; and (i) the failure of any Party to insist
in any one or more cases upon the performance of any of the provisions,
covenants, or conditions of this Agreement or to exercise any option herein
contained shall not be construed as a waiver or relinquishment for the future of
any such provisions, covenants, or conditions, (ii) the acceptance of
performance of anything required by this Agreement to be performed with
knowledge of the breach or failure of a covenant, condition, or provision hereof
shall not be deemed a waiver of such breach or failure, and (iii) no waiver by
any Party of one breach by another Party shall be construed as a waiver with
respect to any other or subsequent breach.

    

    7.04           Time of
Essence.  Time is of the essence of this Agreement and of each
and every provision hereof.

    

    7.05           Entire
Agreement.  This Agreement, including any and all attachments
hereto, if any, and the Escrow Agreement contain the entire agreement and
understanding between the Parties, and supersede all prior agreements and
understandings.

    

    7.06           Significant
Changes   The Seller understands that significant changes
may be made in the capitalization and/or stock ownership of I-Web, which changes
could involve a forward or reverse stock split and/or the issuance of additional
shares, thus possibly having a dramatic negative effect on the percentage of
ownership and/or number of shares owned by present shareholders of
I-Web.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    7.07           Counterparts.  This
Agreement may be executed simultaneously in one or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.  Facsimile signatures will be acceptable
to all parties.

    

    7.08           Notices.  All
notices, requests, demands, and other communications under this Agreement shall
be in writing and shall be deemed to have been duly given on the date of service
if served personally on the party to whom notice is to be given, or on the
second day if faxed or sent by overnight mail, and properly addressed or faxed
as follows:

    

    
      
        
          	
                  If
      to the Seller:

                
	 
      
	
                  Kenneth
      S. Barton

                
	
                     

                
	
                     

                
	
                     

                
	
                  Phone:

                	
                     

                
	
                  Fax:

                	
                     

                
	
                  E-mail: 

                	
                     

                
	 
      
	
                  If
      to the Company:

                
	 
      
	
                  I-Web
      Media, Inc.

                
	
                     

                
	
                     

                
	
                     

                
	
                  Attn.

                	
                  Kenneth S. Barton

                
	
                  Phone:

                	
                     

                
	
                  Fax:

                	
                     

                
	
                  E-mail: 

                	
                     

                

        

      

    

    

    If to the
Purchaser:

    

    Rockland
Group, LLC

    706
Hillcrest Dr.

    Richmond,
TX 77469

    Attn.        Harry
Pond

    Phone:

    Fax:

    Email:
rockhpond@gmail.com

    

    7.09           Binding
Effect.     This Agreement shall inure to and be
binding upon the heirs, executors, personal representatives, successors and
assigns of each of the parties to this Agreement.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    7.10           Effect of
Closing.   All representations, warranties, covenants, and
agreements of the parties contained in this Agreement, or in any instrument,
certificate, opinion, or other writing provided for in it, shall be true and
correct as of the Closing and shall survive the Closing of this
Agreement.

    

    7.11           Mutual
Cooperation.    The parties hereto shall cooperate
with each other to achieve the purpose of this Agreement, and shall execute such
other and further documents and take such other and further actions as may be
necessary or convenient to effect the transaction described herein.

    

    7.12           Expenses.  Except
as otherwise specifically provided for herein, whether or not the transactions
contemplated hereby are consummated, each of the Parties hereto shall bear the
cost of all fees and expenses relating to or arising from its compliance with
the various provisions of this Agreement and such Party’s covenants to be
performed hereunder, and except as otherwise specifically provided for herein,
each of the Parties hereto agrees to pay all of its own expenses (including,
without limitation, attorneys and accountants’ fees and printing expenses)
incurred in connection with this Agreement, the transactions contemplated
hereby, the negotiations leading to the same and the preparations made for
carrying the same into effect, and all such fees and expenses of the Parties
hereto shall be paid prior to Closing.

    

    7.13           Finders’ and Related
Fees.  Each of the Parties hereto is responsible for, and shall
indemnify the other against, any claim by any third party to a fee, commission,
bonus or other remuneration arising by reason of any services alleged to have
been rendered to or at the instance of said Party to this Agreement with respect
to this Agreement or to any of the transactions contemplated
hereby.

    

    7.14           Governing
Law.  This Agreement has been negotiated and executed in the
State of Texas and shall be construed and enforced in accordance with the laws
of such state.

    

    7.15           Forum.  Each
of the Parties hereto agrees that any action or suit which may be brought by any
Party hereto against any other Party hereto in connection with this Agreement or
the transactions contemplated hereby may be brought only in a federal or state
court in Dallas County, Texas.

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, this Agreement has been duly executed by the Parties as of the
date first above written.

    

    
      
        
          	
                  “Seller”

                	 
      	
                  “Purchaser”

                
	 
      	 
      	 
      
	
                  Kenneth
      S. Barton

                	 
      	
                  Rockland
      Group, LLC

                
	
                  an
      individual

                	 
      	
                  a
      Texas limited liability company

                
	 
      	 
      	 
      
	
                   /s/ Kenneth S. Barton

                	 
      	
                   /s/ Harry Pond

                
	
                  By:           Kenneth
      S. Barton

                	 
      	
                  By:           Harry
      Pond

                
	 
      	 
      	
                  Its:           Manager

                
	 
      	 
      	 
      
	
                  “Company”

                	 
      	 
      
	 
      	 
      	 
      
	
                  I-Web
      Media, Inc.,

                	 
      	 
      
	
                  a
      Delaware corporation

                	 
      	 
      
	 
      	 
      	 
      
	
                   /s/  Kenneth S.
      Barton

                	 
      	 
      
	
                  By:           Kenneth
      S. Barton

                	 
      	 
      
	
                  Its:           Chief
      Executive Officer

                	 
      	 
      

        

      

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    Exhibit
A

    

    Escrow
Agreement

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    Exhibit
B

    

    Masters
Legal Opinion

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    Exhibit
C

    

    Material
Contracts

    
      
         

      

      
        17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}]]