Document:

exhibit_10-3.htm

    
      

    

    EXHIBIT
10.3

    

    $
15,000 Promissory Note

    

    December
31, 2007

    

    Secured
Financial Network, Inc.  (“Borrower”), located at 101 NE 3rd Avenue,
Suite 1500, Ft. Lauderdale, FL 33301, in consideration of $15,000, hereby
promises to pay to the order of HEB, LLC (“Lender”), at its primary place of
business at 777 Main Street, Suite 3100, Ft. Worth, TX 76102 or at such other
address given to Borrower by Lender, in immediately available funds and in
lawful money of the United States of America, the principal sum of Fifteen
Thousand Dollars ($15,000.00), or such lesser sum as may be advanced and
outstanding hereunder, when demanded by Lender, together with interest on the
unpaid principal balance of this Note equal to ten percent (10%) per
annum.

     

    Based on
such calculations interest shall be paid quarterly on the first day of the
month, beginning April 1, 2008.

     

    Borrower
shall repay this Note on or before December 31, 2009.

     

    As
additional consideration for entering into this note, Lender shall be issued
75,000 warrants to purchase 75,000 shares of SFNL common stock at the price of
$.05 per share. Warrants shall be exercisable for a term of 3-years. Warrant
agreement is attached.

     

    All
payments made on this Note as scheduled shall be applied, to the extent thereof,
first to accrued but unpaid interest and the balance to unpaid
principal.  Except to the extent specific provisions are set forth in
this Note with respect to application of payments, all payments received by the
holder hereof shall be applied, to the extent thereof, to the indebtedness owing
by Borrower to Lender in such order and manner as Lender or any other holder
hereof shall deem appropriate, any instructions from Borrower or anyone else to
the contrary notwithstanding.

     

    Borrower
shall be entitled to prepay this Note in whole or in part at any
time.  Any prepayments of this Note shall be applied first to accrued
but unpaid interest, and then to the principal balance hereof in the inverse
order of maturity.

     

    All
agreements between Borrower and Lender, or any subsequent holder of this Note,
whether now existing or hereafter arising and whether written or oral, are
expressly limited so that in no contingency or event whatsoever, whether by
reason of acceleration of the maturity of this Note or otherwise, shall the
amount paid or agreed to be paid to the holder of this Note for the use,
forbearance, or detention of the funds advanced pursuant to this Note or for the
performance or payment of any covenant or obligation contained herein or in any
other document evidencing, securing or pertaining to this Note, exceed the
maximum amount permissible under applicable law (the “Highest Lawful
Rate”).  If from any circumstance whatsoever fulfillment of any
provision hereof or of any such other document, at the time performance of such
provision shall be due, shall involve transcending the limit of validity
prescribed by applicable law, then ipso facto, the obligation to be fulfilled
shall be reduced to the limit of such validity, and if from any circumstance the
holder hereof shall ever receive anything of value deemed excess interest by
applicable law, an amount equal to any such excess interest shall be applied to
the reduction of the principal amount owing under this Note, and not to the
payment of interest, or if such excess interest exceeds the unpaid principal
balance of this Note, such excess interest shall be refunded to
Borrower.  All sums paid or agreed to be paid to any holder of this
Note for the use, forbearance or detention of any funds advanced pursuant to
this Note shall, to the extent permitted by applicable law, be amortized,
prorated, allocated and spread throughout the full term of this Note until
payment in full so that the rate of interest on account of the indebtedness
evidenced by this Note is uniform throughout the term hereof.  The
terms and provisions of this paragraph shall control and supersede every other
provision of all agreements between Borrower and any holder of this
Note.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

     

    If this
Note is placed in the hands of an attorney for collection after default, or if
all or any part of the indebtedness represented hereby is proved, established or
collected in any court or in any bankruptcy, receivership, debtor relief,
probate or other court proceedings, Borrower and all endorsers, sureties and
guarantors of this Note jointly and severally agree to pay reasonable attorneys’
fees and collection costs to the holder hereof in addition to the principal and
interest payable hereunder.

     

    Borrower
and all endorsers, sureties and guarantors of this Note hereby severally waive
demand, presentment for payment, protest, notice of protest, notice of
acceleration of and notice of intention to accelerate the maturity of this Note,
diligence in collecting, the bringing of any suit against any party and any
notice of or defense on account of any extensions, renewals, partial payments or
changes in any manner of or in this Note or in any of its terms, provisions and
covenants, or any releases or substitutions of any security, or any delay,
indulgence or other act of any trustee or any holder hereof, whether before or
after maturity.

     

    Neither
the failure by the holder hereof to exercise, nor delay by the holder hereof in
exercising, the right to accelerate the maturity of this Note or any other
right, power or remedy upon any default or event of default shall be construed
as a waiver of such default or event of default or as a waiver of the right to
exercise any such right, power or remedy at any time.  No single or
partial exercise by the holder hereof of any right, power or remedy shall
exhaust the same or shall preclude any other or further exercise thereof, and
every such right, power or remedy may be exercised at any time and from time to
time.  All rights and remedies provided for in this Note are
cumulative of each other and of any and all other rights and remedies existing
at law or in equity, and the holder hereof shall, in addition to the rights and
remedies provided herein, be entitled to avail itself of all such other rights
and remedies as may now or hereafter exist at law or in equity for the
collection of the indebtedness owing hereunder, and the resort to any right or
remedy provided for hereunder or provided for by law or in equity shall not
prevent the concurrent or subsequent employment of any other appropriate rights
or remedies.  Without limiting the generality of the foregoing
provisions, the acceptance by the holder hereof from time to time of any payment
under this Note which is past due or which is less than the payment in full of
all amounts due and payable at the time of such payment, shall not (i)
constitute a waiver of or impair or extinguish the rights of the holder hereof
to accelerate the maturity of this Note or to exercise any other right, power or
remedy at the time or at any subsequent time, or nullify any prior exercise of
any such right, power or remedy, or (ii) constitute a waiver of the requirement
of punctual payment and performance, or a novation in any respect.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

     

    This Note
may not be changed, amended or modified except in a writing expressly intended
for such purpose and executed by the party against whom enforcement of the
change, amendment or modification is sought.

     

    The Loan
is made solely for business purposes and is not for personal, family, household
or agricultural purposes.

     

    Time
shall be of the essence in this Note with respect to all of Borrower’s
obligations hereunder.

     

    THIS NOTE
AND THE RIGHTS AND DUTIES OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY THE LAWS
OF THE STATE OF FLORIDA, EXCEPT TO THE EXTENT THE SAME ARE GOVERNED BY THE
FEDERAL LAWS OF THE UNITED STATES OF AMERICA.  THE BOOKS AND RECORDS
OF LENDER SHALL CONSTITUTE PRIMA FACIE EVIDENCE OF ALL SUMS DUE LENDER
HEREUNDER.

     

    THIS NOTE
REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED
BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES.

     

    Executed
as of the date first written above.

     

    BORROWER:

    

    

    /s/ 
Jeffrey L.
Schultz                   

    Secured Financial Network,
Inc.

    By: Jeffrey L.
Schultz  -  President

    

    

    THE
WARRANT REPRESENTED BY THIS CERTIFICATE AND THE SECURITIES TO BE ISSUED UPON ITS
EXERCISE HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933
(THE “SECURITIES ACT”) OR APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”)
AND SHALL NOT BE SOLD OR TRANSFERRED UNLESS SUCH SALE OR TRANSFER HAS BEEN
REGISTERED UNDER THE SECURITIES ACT AND STATE ACTS, OR AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS IS AVAILABLE, THE AVAILABILITY OF WHICH MUST BE
ESTABLISHED TO THE SATISFACTION OF THE COMPANY.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    CLASS
A STOCK PURCHASE WARRANT

    
    

     

    
      	Warrant
      No.    HEB -3	
              Number of
      Shares:       75,000

            

    

     

    SECURED
FINANCIAL NETWORK, INC.

    COMMON
STOCK, NO PAR VALUE PER SHARE

    VOID
AFTER 5:00 P.M. EASTERN STANDARD TIME

    ON
DECEMBER 31, 2010

    

    This
Warrant is issued to HEB, LLC by SECURED FINANCIAL NETWORK, INC., a Nevada
Corporation, (hereinafter with its successors called the
“Company”).

    

    For value
received and subject to the terms and conditions hereinafter set out, Holder is
entitled to purchase from the Company at a purchase price of $0.05 per share,
fully paid and non-assessable shares of common stock, no par value per share
(“Common Shares”) of the Company.  Such purchase price per Common
Share, as provided herein, is referred to as the “Purchase Price.

    

    The
Holder may exercise this Warrant, in whole or in part, upon surrender of this
Warrant, with the exercise form annexed hereto duly executed, at the office of
the Company, or such other office as the Company shall notify the Holder in
writing, together with a certified or bank cashier’s check payable to the order
of the Company in the amount of the Purchase Price times the number of Common
Shares being purchased.

    

    1.           The
person or persons in whose name or names any certificate representing Common
Shares is issued hereunder shall be deemed to have become the holder of record
of the Common Shares represented thereby as of the close of business on the date
on which this Warrant is exercised with respect to such shares, whether or not
the transfer books of the Company shall be closed.  Until such time as
this Warrant is exercised or terminates, the Purchase Price payable and the
number and character of securities issuable upon exercise of this Warrant are
subject to adjustment as hereinafter provided.

    

    2.           Unless
previously exercised, this Warrant shall expire at 5:00 p.m. Eastern Standard
Time, on December 31, 2010 and shall be void
thereafter or can be extended at the Company’s discretion (“Expiration
Date”).

    

    3.           The
Company covenants that it will at all times reserve and keep available a number
of its authorized Common Shares, free from all preemptive rights, which will be
sufficient to permit the exercise of this Warrant.  The Company
further covenants that such shares as may be issued pursuant to the exercise of
this Warrant will, upon issuance, be duly and validly issued, fully paid and
non-assessable and free from all taxes, liens, and charges.

    

    4.           If
the Company subdivides its outstanding Common Shares, by split-up or otherwise,
or combines its outstanding Common Shares, the Purchase Price then applicable to
shares covered by this Warrant shall forthwith be proportionately decreased in
the case of a subdivision, or proportionately increased in the case of a
combination.

     

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    5.           If
(a) the Company reorganizes its capital, reclassifies its capital stock,
consolidates or merges with or into another corporation (but only if the Company
is not the surviving corporation and no longer has more than a
single shareholder) or sells, transfers or otherwise disposes of all or
substantially all its property, assets, or business to another corporation, and
(b) pursuant to the terms of
such reorganization, reclassification, merger, consolidation, or disposition of
assets, shares of common stock of the successor or acquiring corporation, or any
cash, shares of stock, or other securities or property of any nature whatsoever
(including warrants or other subscription or purchase rights) in addition to or
in lieu of common stock of the successor or acquiring corporation (“Other
Property”), are to be received by or distributed to the holders of Common
Shares, then (c) Holder shall have the right thereafter to receive, upon
exercise of this Warrant, the same number of shares of common stock of the
successor or acquiring corporation and Other Property receivable upon such
reorganization, reclassification, merger, consolidation, or disposition of
assets as a holder of the number of Common Shares for which this Warrant is
exercisable immediately prior to such event. At the time of such reorganization,
reclassification, merger, consolidation or disposition of assets, the successor
or acquiring corporation shall expressly assume the due and punctual observance
and performance of each and every covenant and condition of this Warrant to be
performed and observed by the Company and all the obligations and liabilities
hereunder, subject to such modifications as may be deemed appropriate (as
determined by resolution of the Board of Directors of the Company) in order to
adjust the number of shares of the common stock of the successor or acquiring
corporation for which this Warrant is exercisable. For purposes of this section,
“common stock of the successor or acquiring corporation” shall include stock of
such corporation of any class which is not preferred as to dividends or assets
over any other class of stock of such corporation and which is not subject to
redemption and shall also include any evidences of indebtedness, shares of
stock, or other securities which are convertible into or exchangeable for any
such stock, either immediately or upon the arrival of a specified date or the
happening of a specified event and any warrants or other rights to subscribe for
or purchase any such stock. The foregoing provisions of this section shall
similarly apply to successive reorganizations, reclassifications, mergers,
consolidations, or disposition of assets.

    

    6.           If
a voluntary or involuntary dissolution, liquidation or winding up of the Company
(other than in connection with a merger or consolidation of the Company) is at
any time proposed during the term of this Warrant, the Company shall give
written notice to the Holder at least thirty days prior to the record date of
the proposed transaction.  The notice shall contain: (1) the date on
which the transaction is to take place; (2) the record date (which must be at
least thirty days after the giving of the notice) as of which holders of the
Common Shares entitled to receive distributions as a result of the transaction
shall be determined; (3) a brief description of the transaction; (4) a brief
description of the distributions, if any, to be made to holders of the Common
Shares as a result of the transaction; and (5) an estimate of the fair market
value of the distributions.  On the date of the transaction, if it
actually occurs, this Warrant and all rights existing under this Warrant shall
terminate.

    

    7.           In
no event shall any fractional Common Share of the Company be issued upon any
exercise of this Warrant.  If, upon exercise of this Warrant as an
entirety, the Holder would, except as provided in this Section 7, be entitled to
receive a fractional Common Share, then the Company shall issue the next higher
number of full Common Shares, issuing a full share with respect to such
fractional share.  If this Warrant is exercised at one time for less
than the maximum number of Common Shares purchasable upon the exercise hereof,
the Company shall issue to the Holder a new warrant of like tenor and date
representing the number of Common Shares equal to the difference between the
number of shares purchasable upon full exercise of this Warrant and the number
of shares that were purchased upon the exercise of this Warrant.

    

    8.           Whenever
the Purchase Price is adjusted, as herein provided, the Company shall promptly
deliver to the Holder a certificate setting forth the Purchase Price after such
adjustment and setting forth a brief statement of the facts requiring such
adjustment.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    9.           If
at any time prior to the expiration or exercise of this Warrant, the Company
shall pay any dividend or make any distribution upon its Common Shares or shall
make any subdivision or combination of, or other change in its Common Shares,
the Company shall cause notice thereof to be mailed, first class, postage
prepaid, to Holder at least thirty full business days prior to the record date
set for determining the holders of Common Shares who shall participate in such
dividend, distribution, subdivision, combination or other
change.  Such notice shall also specify the record date as of which
holders of Common Shares who shall participate in such dividend or distribution
is to be determined.  Failure to give such notice, or any defect
therein, shall not affect the legality or validity of any dividend or
distribution.

    

    10.         The
Company will maintain a register containing the names and addresses of the
Holder and any assignees of this Warrant.  Holder may change its
address as shown on the warrant register by written notice to the Company
requesting such change.  Any notice or written communication required
or permitted to be given to the Holder may be delivered by confirmed facsimile
or telecopy or by a recognized overnight courier, addressed to Holder at the
address shown on the warrant register.

    

    11.         This
Warrant has not been registered under the Securities Act of 1933, as amended
(the “Securities Act”), or any state securities laws (“State Acts”) or
regulations in reliance upon exemptions under the Securities Act, and exemptions
under the State Acts. Subject to compliance with the Securities Act and State
Acts, this Warrant and all rights hereunder are transferable in whole or in
part, at the office of the Company at which this Warrant is exercisable, upon
surrender of this Warrant together with the assignment hereof properly endorsed.
The Common Stock into which the Warrants are exercisable will have piggyback
registration rights, and the Warrants will be transferable.

    

    12.         In
case this Warrant shall be mutilated, lost, stolen, or destroyed, the Company
may issue a new warrant of like tenor and denomination and deliver the same (a)
in exchange and substitution for and upon surrender and cancellation of any
mutilated Warrant, or (b) in lieu of any Warrant lost, stolen, or destroyed,
upon receipt of evidence satisfactory to the Company of the loss, theft or
destruction of such Warrant (including a reasonably detailed affidavit with
respect to the circumstances of any loss, theft, or destruction) and of
indemnity with sufficient surety satisfactory to the Company.

    

    13.           Unless
a current registration statement under the Securities Act, shall be in effect
with respect to the securities to be issued upon exercise of this Warrant, the
Holder, by accepting this Warrant, covenants and agrees that, at the time of
exercise hereof, and at the time of any proposed transfer of securities acquired
upon exercise hereof, the Company may require Holder to make such
representations, and may place such legends on certificates representing the
Common Shares issuable upon exercise of this Warrant, as may be reasonably
required in the opinion of counsel to the Company to permit such Common Shares
to be issued without such registration.

    

    14.         This
Warrant does not entitle Holder to any of the rights of a stockholder of the
Company.

    

    15.         Nothing
expressed in this Agreement and nothing that may be implied from any of the
provisions hereof is intended, or shall be construed, to confer upon, or give
to, any person or corporation other than the parties to this Agreement any
covenant, condition, stipulation, promise, or agreement contained herein, and
all covenants, conditions, stipulations, promises and agreements contained
herein shall be for the sole and exclusive benefit of the parties hereto and
their respective successors and assigns.

    
      
         

      

      
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    16.         The
provisions and terms of this Warrant shall be construed in accordance with the
laws of the State of Nevada.

    

    IN
WITNESS WHEREOF, the Company as of December 31, 2007 has duly executed this
Warrant.

     

    
      
        	 	SECURED
      FINANCIAL NETWORK, INC.	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ 
      Jeffrey L. Schultz 	 
	 	 	Jeffrey
      L. Schultz - President	 
	 	 	 	 

      

    

    

    

     

     

     

    

    
      
         

      

      
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    FORM
OF EXERCISE

    

    

     Date:
____________________

    

    

    To:           SECURED FINANCIAL NETWORK,
INC.

     100
NE 3rd Ave., Suite 1500,

     Ft.
Lauderdale, FL 33301

     Telecopy
No. 954.337.2835

    

    

    The
undersigned hereby subscribes for 75,000 shares of common stock of SECURED
FINANCIAL NETWORK, INC. covered by this Warrant and hereby delivers $ 3,750 in
full payment of the purchase price thereof. The certificate(s) for such shares
should be issued in the name of the undersigned or as otherwise indicated
below:

    

    

    ____________________________

    Signature:

    

    

    ____________________________

    Printed
Name

    

    

    

    ____________________________

    Name for Registration, if
different

    

    

    ____________________________

    Street Address

    

    ____________________________

    City,
State and Zip Code

    

    ____________________________

    Social
Security Number

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    ASSIGNMENT

    

    For Value
Received, the undersigned hereby sells, assigns and transfers unto the
assignee(s) set forth below the within Warrant certificate, together with all
right, title and interest therein, and hereby irrevocably constitutes and
appoints ___________________________________ attorney, to transfer the said
Warrant on the books of the within-named Company with respect to the number of
Common Shares set forth below, with full power of substitution in the
premises.

     

     

    

     

    
      	
              Name(s)
      of

              Assignee(s)

            	
              Social Security
      or

              other
Identifying

              Number(s) of

              Assignee(s)

            	
              Address

            	
              No. of

              Shares

            

    

     

     

    

    

    

    Dated:
______________________________

     

    
 

     

    
      	      
              _________________________________________

              Signature

              

              NOTICE:
      THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN
      UPON THE FACE OF THE WARRANT IN EVERY PARTICULAR, WITHOUT ALTERATION OR
      ENLARGEMENT, OR ANY CHANGE WHATSOEVER.

              

              

              _________________________________________

              Print
      Name and Title

            

    

     

    
 

     

     

     

    9f10ksb2007ex10v_mtgbroker.htm

    
      Exhibit 10.5

       

      

       

      SERVICE
AGREEMENT

      
        
          

        

      

      

    

    THIS SERVICE AGREEMENT (the
“Agreement”) is made the ____ day of _______________, 2006,

     

    B
E T W E E N:

     

    MORTGAGEBROKERS.COM FINANCIAL GROUP
OF COMPANIES, INC.,

     

    45 Vogell
Road, Suite 101

    Richmond
Hill, ON

    L4B
3P6

     

    a
corporation incorporated under the laws of Canada

    (hereinafter
as the “COMPANY”);

     

    - and
-

     

    MAXWELL
REALTY INC.

     

    3205-380
Canyon Meadows Drive S.E.

    Calgary,
Alberta

    T2J
7C3

     

    a
corporation incorporated under the laws of the Province of Alberta

    (hereinafter
as “MAXWELL”).

     

    RECITALS

     

    WHEREAS pursuant to the Letter
of Intent dated September 6, 2005, executed between MAXWELL and
MortgageBrokers.com Holdings, Inc. (the “MBKR.OB”), the parent corporation that
wholly owns the COMPANY,

     

    And
whereas the COMPANY is duly registered in the Province of Alberta as a mortgage
broker pursuant to the appropriate Acts and Regulations of the relevant
provincial jurisdiction and owns all licenses, contracts, facilities and
equipment required to conduct a mortgage brokerage business and Maxwell is duly
registered in the Province of Alberta as a realtor and franchisor pursuant to
the appropriate Acts and Regulations of the relevant provincial jurisdiction and
owns all licenses, contracts, facilities and equipment required to conduct a
franchised realty business,

     

    And
whereas the COMPANY and MAXWELL wish to enter into a Service Level Agreement
whereby the COMPANY provides mortgage brokerage and ancillary services (the
“Mortgage Broker Solution”) to MAXWELL and MAXWELL’s franchise broker network
(the “MAXWELL FRANCHISEE” or “MAXWELL FRANCHISEES”) throughout the Province of
Alberta under the terms and conditions described here-in,

     

     

     

    
      
        	
                ©
      Mortgage Brokers.com Holdings, Inc., 2006.

              	
                Page 1 of 
      13

              

      

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
                

              	
                SERVICE
      LEVEL AGREEMENT

              
	 
      

      

 

    SERVICE
COVENANTS

     

    NOW THEREFORE in consideration
of the mutual covenants herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereby agree as follows:

     

    
      	
              1.  

            	
              The
      term of this agreement (“Term”) shall be from the date first above written
      for a period of three (3) years, unless otherwise terminated as provided
      herein below.  The Agreement shall automatically renew for
      successive one (1) year Terms, unless otherwise terminated as provided
      herein below.

            

    

     

    
      	
              2.  

            	
              The
      COMPANY shall provide the Mortgage Broker Solution, described in Schedule
      A, to MAXWELL and MAXWELL’s franchise network which provides referral
      commission revenue on a mortgage transaction basis to the MAXWELL
      FRANCHISEE and MAXWELL FRANCHISEE Sales Agents as well as an opportunity
      for MAXWELL, MAXWELL FRANCHISEES and MAXWELL FRANCHISEES’ Sales Agents to
      earn stock warrants for common shares of the COMPANY’s publicly traded
      parent company, MortgageBrokers.com Holdings, Inc. (“MBKR.OB”), as
      described in Schedule B.

            

    

     

    
      	
              3.  

            	
              In
      consideration for delivery of the Mortgage Broker Solution by the COMPANY,
      MAXWELL, and the MAXWELL FRANCHISEES who have executed a service level
      agreement with the company, shall:

            

    

     

    
      	
              a.  

            	
              Actively
      promote the Mortgage Broker Solution throughout the MAXWELL FRANCHISEES’
      business operations and Sales Agent network, including but not limited to,
      and as mutually agreed upon, profiling in MAXWELL’s newsletter,
      co-branding in print materials and on the internet, as well as the
      insertion of a ‘click through’ referral icon on Maxwell’s corporate
      internet marketing site.

            

    

     

    
      	
              b.  

            	
              During
      the launch of the Mortgage Broker Solution, work collaboratively with the
      COMPANY to establish COMPANY mortgage specialist business development
      officers (“Mortgage Specialist BDOs”), as mutually agreed upon, to service
      the MAXWELL FRANCHISEES’ offices;

            

    

     

    
      	
              c.  

            	
              Promote
      equal access to COMPANY Mortgage Specialist BDOs to each MAXWELL
      FRANCHISEE office, when such offices are open for business, as may be
      afforded to any other competitive mortgage agent.  Such access
      is to be promoted by MAXWELL to the MAXWELL FRANCHISEE as at no cost to
      the Company or the Company’s Mortgage Specialist
  BDOs;

            

    

     

    
      	
              d.  

            	
              As
      appropriate and mutually agreed upon, work with the Company to promote the
      presence and marketability of the Company Mortgage Specialist BDO in the
      MAXWELL FRANCHISEE’s office;

            

    

     

    
       

       

      
        
          	
                  ©
      Mortgage Brokers.com Holdings, Inc., 2006.

                	
                  Page 2 of 
      13

                

        

         

      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
       

      
        
          	
                  

                	
                  SERVICE
      LEVEL AGREEMENT

                
	 
      

        

    

     

    
      	
              e.  

            	
              As
      may be mutually agreed upon, work with the COMPANY to co-develop branding
      to be used for advertising, signage and World Wide Web (“www”) links
      associated with delivery of the Mortgage Broker
  Solution;

            

    

     

    
      	
              f.  

            	
              As
      may be mutually agreed upon, work collaboratively with the COMPANY to
      incorporate a link on the MAXWELL or MAXWELL FRANCHISEES www site that
      markets the Mortgage Broker Solution to the Consumer and allows for ‘click
      through’ functionality to allow the consumer to link to a mortgage
      referral environment;

            

    

     

    
      	
              g.  

            	
              Work
      collaboratively with the COMPANY to provide full disclosure to the
      consumer as may be required under any and all current and future laws and
      regulations applicable to MAXWELL, the MAXWELL FRANCHISEE or the
      COMPANY.  Without limitation, such disclosure shall include
      information with respect to any distributed referral fee or volume bonus
      shares, that materially complies with the disclosure presented in
      Schedules A and B;

            

    

     

    
      	
              h.  

            	
              Meet
      with the COMPANY’s regional sales manager from time to time to discuss the
      Mortgage Broker Solution, the mortgage sales pipeline, capture rates,
      marketing initiatives, and best
practices;

            

    

     

    
      	
              i.  

            	
              Work
      collaboratively with the COMPANY to distribute commission fees and earned
      shares to MAXWELL FRANCHISEE Sales
Agents;

            

    

     

    
      	
              4.  

            	
              It
      is hereby agreed that MAXWELL will grant exclusive access to COMPANY
      arranged Mortgage Specialist BDOs to the MAXWELL FRANCHISEE CANYON CREEK
      office and the MAXWELL FRANCHISEE SOUTHSTAR office, when such offices are
      open for business.  Such exclusivity shall commence on June 1,
      2006 and continue to December 31, 2006.  The resumption of
      successive 12 month exclusivity (“Exclusivity Term(s)”) thereafter will be
      based upon attaining mortgage capture rate performance
      thresholds.  The following defines the agreed upon mortgage
      capture rate performance thresholds whereby if reached or exceeded, the
      exclusive access to the two aforementioned offices will be maintained for
      MortgageBrokers.com arranged mortgage
agents:

            

    

     

     

    
      
        	
                Year

              	
                %
      Capture of Sales Ends during the Term

              
	 	 
	
                2006
      – 6 month Term

              	
                5%

              
	
                2007

              	
                8%

              
	
                2008

              	
                12%

              
	
                2009

              	
                14%

              
	
                2010

              	
                15%

              

      

    

     

    
       

       

      
        
          	
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                  SERVICE
      LEVEL AGREEMENT

                
	 
      

        

    

     

    If the
aforementioned mortgage capture rate performance thresholds are not obtained, it
is hereby agreed upon that COMPANY arranged Mortgage Specialist BDOs will still
have access to the MAXWELL FRANCHISEE CANYON CREEK office and the MAXWELL
FRANCHISEE SOUTHSTAR office during the Term or any successive Term of the
Agreement, except not on an exclusive basis.

     

    
      	
              5.  

            	
              The
      COMPANY and COMPANY mortgage specialist BDOs agree that they will carry
      out the Mortgage Broker Solution in a manner that is professional,
      transparent, ethical, legal and fully compliant with any and all current
      and future laws and regulations applicable to MAXWELL, the MAXWELL
      FRANCHISEE or the COMPANY.  The MAXWELL FRANCHISEE shall
      participate in the Mortgage Broker Solution in a manner that is similarly
      professional, transparent, ethical, legal and fully compliant with any and
      all current and future laws and regulations applicable to MAXWELL, the
      MAXWELL FRANCHISEE or the COMPANY.  Both the COMPANY and the
      MAXWELL FRANCHISEE agree to notify the other party, forthwith, following
      their becoming aware of the applicable misconduct or violation, of any
      misconduct or violation of any and all current and future laws and
      regulations applicable to MAXWELL, the MAXWELL FRANCHISEE or the COMPANY,
      by the COMPANY, the COMPANY mortgage specialist BDO, the MAXWELL
      FRANCHISEE or a MAXWELL FRANCHISEE Sales
Agent.

            

    

     

    
      	
              6.  

            	
              In
      the event that either the MAXWELL FRANCHISEE or the COMPANY materially
      breaches this agreement or otherwise fails to perform its obligations
      pursuant to this agreement in accordance with the terms of this agreement,
      the one of them not in default may terminate this agreement by providing
      to the other of them thirty (30) days notice specifying the
      breach.  The notice required shall demand immediate cure of the
      condition or conditions warranting termination, and shall advise that in
      the event the condition or conditions warranting termination specified in
      the notice are not cured within the thirty (30) day notice period, this
      agreement shall be terminated without further notice.  If the
      material breach is remedied to the mutual satisfaction of both parties
      within 30 days, the agreement can not be terminated on this
      basis.

            

    

     

    
      	
              7.  

            	
              It
      is hereby agreed that it is the right of the COMPANY to adjust the
      service, terms, conditions and remuneration associated with the Mortgage
      Broker Solution for successive Terms.  The Company shall provide
      MAXWELL the MAXWELL FRANCHISEE at least ninety (90) days written notice
      prior to the end of a Term of the COMPANY’S intent to make any changes to
      the Mortgage Broker Solution.

            

    

     

    
      	
              8.  

            	
              The
      Agreement may be terminated without cause by either party at the end of
      the Term or each successive Term by providing at least sixty (60) days
      notice prior to the end of the Term.  Failure to provide such
      notice will result in the automatic renewal of this Agreement for a
      successive Term.

            

    

     

    
      	
              9.  

            	
              MISCELLANEOUS

            

    

     

     

    
       

       

      
        
          	
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                  SERVICE
      LEVEL AGREEMENT

                
	 
      

        

    

     

    
      	
              a.  

            	
              Entire
      Agreement:  This Agreement including any agreements
      incorporated by reference, and Schedules A and B attached hereto,
      constitute the entire agreement and understanding between the parties with
      respect to the COMPANY’S provision of the Mortgage Broker Solution and
      supersedes any prior or contemporaneous written or oral agreements,
      representations and warranties between the parties respecting the subject
      matter hereof.  There are no warranties, representations or
      other agreements between the parties in connection with the subject matter
      hereof except as specifically set forth
herein.

            

    

     

    
      	
              b.  

            	
              Relationship of
      Parties.  Each of the parties will be solely and entirely
      responsible for its acts and the acts of its agents, subcontractors,
      third-party service providers and employees during the performance of this
      Agreement.  Nothing contained in this Agreement shall be
      construed as creating a partnership, joint venture, agency, trust or other
      association of any kind, each party being individually responsible only
      for its obligations as set forth in this
  Agreement.

            

    

     

    
      	
              c.  

            	
              Confidentiality.  Each
      party hereto acknowledges that, during the term of this Agreement, each
      party may be required from time to time to disclose to the other party
      certain materials, information and data relating to such party's business
      (all of which is hereinafter referred to as "Confidential
      Information").  Each party hereto acknowledges that the other's
      Confidential Information, other than that which is publicly known, is
      confidential and proprietary information and constitutes trade
      secrets.  Each party agrees to exercise the same degree of care
      of the other party's Confidential Information that it does with its own
      Confidential Information and to confine knowledge of Confidential
      Information only to its employees who require such knowledge for use in
      the ordinary course and scope of their employment.  The parties
      hereto shall not, during the term of this agreement or thereafter, use,
      disclose, divulge or make available each other's Confidential Information
      to any third party either directly or indirectly in any manner whatsoever
      without the prior written consent of the other
  party.

            

    

     

    
      	
              d.  

            	
              Notice.  Any
      notice or other communication required to be given under this Agreement
      must be in writing given by facsimile, personal delivery, ordinary mail or
      by prepaid certified or registered mail to the current address of record
      of the respective party.

            

    

     

    
      	
              e.  

            	
              Errors and
      Omissions.  The COMPANY shall maintain errors and
      omissions insurance, providing for coverage in the form as required by the
      laws governing in the jurisdiction(s) where the COMPANY carries on
      business in such amount as is required by law, and provide evidence of
      such coverage to the COMPANY within two (2) Business Days upon
      request.

            

    

     

    
      	
              f.  

            	
              Limitation of
      Liability.  Neither the COMPANY nor MAXWELL or any of
      either party’s respective successors, assigns, directors, officers,
      shareholders, employees or agents will be liable to the other or any
      successor thereto or subsidiary or shareholder thereof for any conduct or
      action taken or not taken by it in the course of its performance of the
      services required hereunder unless such conduct, action or inaction was
      taken in bad faith or with negligence or willful
    misconduct.

            

    

     

     

    
       

       

      
        
          	
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                  SERVICE
      LEVEL AGREEMENT

                
	 
      

        

    

     

     

    
      	
              g.  

            	
              Governing
      Law.  This Agreement shall be construed in accordance
      with the laws of the Province of Ontario and the laws of Canada applicable
      therein without regard to principles of conflicts of laws or choice of
      law.

            

    

     

    
      	
              h.  

            	
              Assignment.  Neither
      MAXWELL nor the COMPANY may assign this Agreement, or any of its rights,
      title or interest in this Agreement, to any person without the prior
      written consent of the other; provided that the COMPANY may assign or
      outsource any or all of the Services under this Agreement to a subsidiary
      or affiliated body corporate (as such term is defined in the Canada
      Business Corporations Act, or such similar
  legislation).

            

    

     

    
      	
              i.  

            	
              Severability.  Each
      of the provisions contained in this Agreement is distinct and severable
      and a declaration of invalidity or unenforceability of any provision by a
      court of competent jurisdiction will not affect the validity or
      enforceability of any other provision of this
  Agreement.

            

    

     

    
      	
              j.  

            	
              Amendments.  Subject
      to the terms of this Agreement and unless otherwise specified herein, this
      Agreement may be amended in writing at any time only upon the mutual
      agreement of all parties hereto.

            

    

     

     

    IN WITNESS WHEREOF this
Agreement has been executed by the parties hereto on the date first above
written.

     

     

    

     

    MortgageBrokers.com
Financial Group of Companies, Inc.

     

    I have
the authority to bind the corporation,

     

    

     

    by:                                                                           

    Alex
Haditaghi

    C.E.O.

     

    MAXWELL
REALTY INC.

     

    I have
the authority to bind the corporation,

     

    

     

    by:                                                                           

    [Name:]

    [Title:]

     

    

     

    

    
       

       

      
        
          	
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                    SCHEDULE
      A

                    SERVICE
      LEVEL AGREEMENT

                  

                
	 
      

        

    

     

    

     

    SCHEDULE
A

     

    The
Mortgage Broker Solution

     

    Ownership
● Leverage ● Profit Sharing ● Retention ● Value Creation

     

     

     

     

     

     

     

     

     

     

     

    
       

       

      
        
          	
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                    SCHEDULE
      A

                    SERVICE
      LEVEL AGREEMENT

                  

                
	 
      

        

    

     

    Licensure

     

    The
Mortgage Broker Solution is being made available to all MAXWELL FRANCHISEES
under the terms of a three (3) year Agreement that is renewable for successive
one year terms.

     

    Service

     

    The
following describes the key elements of the COMPANY and MAXWELL service
contemplated as part of the Mortgage Broker Solution to be established for each
MAXWELL FRANCHISEE office.

     

    The
MAXWELL FRANCHISEE and MAXWELL FRANCHISEE Sales Agents may refer customers to
the Mortgage Broker Solution directly to the assigned Mortgage Specialist
Business Development Officer (Mortgage Specialist BDO).  The referral
may also be provided indirectly via an on-line World Wide Web (“www”) referral
and application system.

     

    The
following describes the Mortgage Broker Solution service team:

     

    
      	
              Ø  

            	
              the
      COMPANY will arrange for a Mortgage Specialist BDO to be generally
      assigned to each participant MAXWELL FRANCHISEE office.  Where
      warranted, a Mortgage Specialist BDO may manage the relationships at
      several smaller participant MAXWELL FRANCHISEE offices or several Mortgage
      Specialist BDOs will be assigned to larger participant MAXWELL FRANCHISEE
      offices.  The Mortgage Specialist BDO will be part of a service
      team of regional Mortgage Specialist BDOs, structured to provide
      geographic and temporal coverage and provide flexibility to respond to
      language and cultural
sensitivities.

            

    

     

    
      	
              Ø  

            	
              all
      customer files will be reviewed by a COMPANY Compliance Officer to screen
      for fraud and licensure non-compliance, subject to compliance with all
      privacy legislation.

            

    

     

    
      	
              Ø  

            	
              the
      COMPANY back office administration will manage the revenue pipeline and
      associated reporting systems.

            

    

     

    
      	
              Ø  

            	
              the
      Company will provide MAXWELL and each MAXWELL FRANCHISEE with a lead
      referral and sales data report on a no less than quarterly basis for
      management purposes, and such other information as MAXWELL may from time
      to time reasonably request.

            

    

     

    Transaction-based
Referral Commission Revenue

     

    The
COMPANY will transfer earned fees on a monthly basis to the MAXWELL FRANCHISEE
accompanied with electronic statements of account for further disbursement to
MAXWELL FRANCHISEE Sales Agents.

     

    Commission
fees payable by lenders for origination are transaction based commission fees
(“Finders Fee”) as may be negotiated by the COMPANY.  Finders Fees do
not include any origination threshold volume based bonus (“Volume Bonus”) that a
lender may pay the Company from time to time.

     

    
       

       

      
        
          	
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                    SCHEDULE
      A

                    SERVICE
      LEVEL AGREEMENT

                  

                
	 
      

        

    

     

    Volume
Bonus Lenders

     

    For
transactions placed with lenders who pay the Company a Finders Fee and Volume
Bonus, the MAXWELL FRANCHISEE and MAXWELL FRANCHISEE Sales Agents shall be
entitled to revenue sharing of mortgage origination Finders Fees received by the
Company as a result of a referral or lead generated by the MAXWELL FRANCHISEE
Sales Agent.  Based on the particular Finders Fee paid by the lender
in a mortgage transaction, the MAXWELL FRANCHISEE and MAXWELL FRANCHISEE Sales
Agent shall be paid a referral fee (‘Referral Fee’) based on the
following:

     

    Residential:

     

    
      	
              a.  

            	
              The
      Referral Fee will equal forty percent (40%) of Finders Fees up to 30 basis
      points (0.30%) of the mortgage
amount;

            

    

     

    Commercial:

     

    
      	
              b.  

            	
              The
      Referral Fee will equal twenty-five percent (25%) of the Finders/Broker
      Fees up to 25 basis points (0.25%) of the mortgage
  amount;

            

    

     

    The
Referral Fee, which generally will amount to 30 basis points (‘bps’) for
Residential mortgage origination, will be split for disbursement as
follows:

     

    
      	
              Stakeholder

            	
              Referral
      Fee Split%

            	
              Referral
      Fee Split (based on 30 bps)

            
	 	 	 
	
              MAXWELL
      FRANCHISEE Sales Agent

            	
              60%

            	
              18
      bps

            
	
              MAXWELL
      FRANCHISEE

            	
              40%

            	
              12
      bps

            
	 
      	 
      	 
      

    

     

    Non-Volume
Bonus Lenders and Broker Fees

     

    In cases
where a lender does not pay a corporate volume bonus (e.g. Home Capital Group,
Private Lenders, etc.) or where the COMPANY charges a broker fee, the commission
split varies from the standard commission split.  Where the deals
funded with non volume lenders originated from the MAXWELL Organization, 15% of
the commission fee is taken off the top for the COMPANY, and out of the
remaining 85%, 40% of the Finders Fee (or an effective 32% of the total
commission fee) will be paid to the MAXWELL Organization as a Referral Fee up to
30 bps, distributed on a Pro Rata basis to the MAXWELL FRANCHISEE and MAXWELL
FRANCHISEE Sales Agent as to Volume Bonus Lender Referral Fees
(above).

     

    

     

    

     

    
       

       

      
        
          	
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                    SCHEDULE
      B

                    SERVICE
      LEVEL AGREEMENT

                  

                
	 
      

        

    

    

     

    

     

    SCHEDULE
B

     

    PATH
& the

     

    Volume
Incentive Share Ownership Program

     

    

    
       

       

      
        
          	
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                    SCHEDULE
      B

                    SERVICE
      LEVEL AGREEMENT

                  

                
	 
      

        

    

    SCHEDULE B – MAXWELL EARNED
SHARE OWNERSHIP

     

    Stock
Warrants may be earned annually by MAXWELL, the MAXWELL FRANCHISEE and the MAXWELL FRANCHISEE Sales Agent
for aggregate referrals from MAXWELL Sales Agents leading to annual mortgage
origination volume sales for the Company (as may be calculated in Table B of
this Schedule A), pursuant to a Warrant Agreement, as detailed
here-in.

     

    On a
similar formula basis, MAXWELL, the MAXWELL FRANCHISEE and the MAXWELL FRANCHISEE Sales Agent
may also earn stock warrants through referral of third party mortgage brokers
and agents to join the Company (as may also be calculated in Table B of this
Schedule A), pursuant to a Warrant Agreement, for those referred mortgage
consultants that execute a Mortgage Agent License Agreement with the Company, as
detailed here-in.

     

    TABLE B

    
      	
              MAXWELL
      Annual Stock Warrant Performance Plan

            
	
              Annual
      Mortgage Origination

              Or Referred Agent “Book of
      Business”

            	
              Amount
      payable in Stock Warrants

            
	
              Volume
      ($ CDN)

            	
              (USD
      $ ) Dollars Worth of Shares

            
	
              $5,000,000

            	
              1,500

            
	
              $20,000,000

            	
              6,000

            
	
              $30,000,000

            	
              9,000

            
	
              $40,000,000

            	
              12,000

            
	
              $50,000,000

            	
              15,000

            
	
              $60,000,000

            	
              18,000

            
	
              $70,000,000

            	
              21,000

            
	
              $80,000,000

            	
              24,000

            
	
              $90,000,000

            	
              27,000

            
	
              $100,000,000

            	
              30,000

            
	
              $150,000,000

            	
              45,000

            
	
              $200,000,000

            	
              60,000

            
	
              $250,000,000

            	
              75,000

            
	
              $300,000,000

            	
              90,000

            
	
              $1,000,000,000

            	
              300,000

            

    

     

    
       

       

      
        
          	
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                    SCHEDULE
      B

                    SERVICE
      LEVEL AGREEMENT

                  

                
	 
      

        

    

    
 

     

    RULES FOR STOCK WARRANTS
EARNED ON ANNUAL VOLUME AND THROUGH “PATH”

     

    General Rules and
Conditions

     

    
      	
              1.  

            	
              MAXWELL,
      the MAXWELL
      FRANCHISEE and the MAXWELL FRANCHISEE Sales
      Agent are eligible to earn stock warrants pursuant to the Mortgage Broker
      Solution in accordance to the following distribution of annually earned
      volume bonus shares:

            

    

     

    
      	
              a.  

            	
              MAXWELL: 10%

            

    

     

    
      	
              b.  

            	
              MAXWELL
      FRANCHISEE: 45%

            

    

     

    
      	
              c.  

            	
              MAXWELL
      FRANCHISEE Sales Agents: 45%

            

    

     

    The
MAXWELL FRANCHISEE Sales Agent share issue will be disbursed through the MAXWELL
FRANCHISEE and possibly include collateral marketing material to give the
MAXWELL FRANCHISEE recruitment and retention tools.  The MAXWELL
FRANCHISEE Sales Agent share issue will be further detailed in a sales agent
information package and will likely have an eligibility volume threshold and be
presented on a per deal basis.  The sales agent share issue program
provides the MAXWELL FRANCHISEE with a retention tool as further detailed in 3)
below.

     

    
      	
              2.  

            	
              Annually
      earned stock warrants will have the following vestment periods prior to
      being exercisable by MAXWELL, the MAXWELL FRANCHISEE and the
      MAXWELL FRANCHISEE
      Sales Agent:

            

    

     

     

    
      	
              a.  

            	
              MAXWELL,
      the MAXWELL
      FRANCHISEE and the MAXWELL FRANCHISEE Sales
      Agent are entitled to exercise stock warrants (Table B) earned during the
      first five (5) years immediately following the Effective Date (hereafter
      referred to as the “Initial Vestment Period”), at the end of year five (5)
      immediately following the Effective Date;
and,

            

    

     

    
      	
              b.  

            	
              stock
      warrants earned in each consecutive two (2) year period following the
      Initial Vestment Period (hereafter referred to as the “Vestment Period”)
      can be exercised two years following the end of the respective 2 year
      Vestment Period.

            

    

     

    
      	
              3.  

            	
              If
      MAXWELL, the MAXWELL
      FRANCHISEE and the MAXWELL FRANCHISEE Sales
      Agent terminates the agreement with the Company, at any time prior to the
      end of the Initial Vestment Period or successive Vestment Periods,
      MAXWELL, the MAXWELL
      FRANCHISEE or the MAXWELL FRANCHISEE Sales
      Agent will not be eligible to receive any stock warrants what so ever for
      performance during a partially completed Initial Vestment Period or
      successive Vestment Period.

            

    

     

    
      	
              4.  

            	
              The
      numbers in the above table are not exact, and the table is provided only
      as a guideline for reference to the MAXWELL, the MAXWELL FRANCHISEE and the
      MAXWELL FRANCHISEE
      Sales Agent.  The COMPANY and it’s Board reserves the right to
      adjust the share issue formulae to increase or decrease the shares that
      might be issued through PATH or on a annual mortgage origination volume
      basis relative to Table B presented in this Schedule 1 or to eliminate the
      programs completely in the future to manage the Company’s capital
      structure.  The COMPANY agrees to provide 90 days notice to the
      MAXWELL Organization
      of any such changes.

            

    

     

     

    
       

       

      
        
          	
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                    SCHEDULE
      B

                    SERVICE
      LEVEL AGREEMENT

                  

                
	 
      

        

    

     

     

    
      	
              5.  

            	
              Warrant
      values for stock warrants earned during the Initial Vestment Period will
      be established as the twenty (20) day average closing price following the
      commencement of the Initial Vestment Period.  Warrant values for
      stock warrants earned during each consecutive Vestment Period will be
      established as the twenty (20) day average closing price following the
      commencement of the respective Vestment Period.  The warrant
      minimum value will be established at USD
$1.00.

            

    

     

    
      	
              6.  

            	
              The
      warrants, including exercise price, are subject to the terms and
      conditions of a Warrant Agreement to Purchase Shares of Common Stock of
      MortgageBrokers.com Holdings, Inc. which will incorporate a leak-out
      provision, transfer rights provision, registration rights provision, and
      will describe all related warrant rights, privileges and
      restrictions.

            

    

     

    
      	
              7.  

            	
              The
      warrants, including exercise price, are subject to the terms and
      conditions of a Warrant Agreement to Purchase Shares of Common Stock of
      MortgageBrokers.com Holdings, Inc.  To promote team building,
      the COMPANY has established a program called “Prosperity Accelerated
      Through Hiring” (“PATH”) whereby the COMPANY will issue stock warrants for
      the referral and contracting of mortgage agents or other mortgage
      consultants to the COMPANY by the MAXWELL
      Organization.  For potential mortgage consultants and
      agents referred to the COMPANY by the MAXWELL Organization that
      subsequently execute a Mortgage Agent License Agreement with the COMPANY,
      the COMPANY will issue stock warrants to the referring MEMBER OF THE MAXWELL
      Organization in accordance to Table B based on the referred
      mortgage consultant’s or agent’s annual mortgage origination sales
      volume.  The following conditions also apply to the PATH
      ownership program:

            

    

     

    
      	
              a.  

            	
              PATH
      earned stock warrants will be vested for a two year period (the Path
      Vesting Period) following execution of an agreement between the mortgage
      agent or mortgage consultant and the
Company.

            

    

     

    
      	
              b.  

            	
              If
      the teamed Agent or referred mortgage consultant terminates the Agreement
      prior to the Path Vesting period, the REFEREE OF the MAXWELL
      Organization is not eligible to receive the warrants associated
      with the referral.

            

    

     

    
      	
              8.  

            	
              PATH
      Team Building Program Example:  The MAXWELL FRANCHISEE earns
      shares for referral of a Mortgage Consultants to the COMPANY based on
      Table B of this Schedule 1.  For example, if a potential
      mortgage consultant’s book of business is CDN $100,000,000, the referring
      MAXWELL FRANCHISEE
      is eligible to receive up to USD $30,000 dollars worth of
      warrants.  These warrants are deemed to be paid in full and
      earned following the Path Vesting
Period.

            

    

     

     

    
       

       

      
        
          	
                  ©
      Mortgage Brokers.com Holdings, Inc., 2006.

                	
                  Page 13 of 
      13

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