Document:

NEWCO SECURITY AGREEMENT

 

THIS SECURITY AGREEMENT
(“Agreement”) is made and entered into as of the 16th day of May, 2012 by and among BOLDFACE Licensing
+ Branding, a Nevada corporation (the “Borrower”), and Gottbetter & Partners, LLP, in its capacity
as collateral agent (in such capacity, the “Collateral Agent”) for the Buyers (as defined below) party to that
certain Securities Purchase Agreement, dated as of May 16, 2012 (the “Securities Purchase Agreement”).

 

WITNESSETH:

 

WHEREAS, Max
Cash Media, Inc., a Nevada corporation (the “Company”), and each party listed as a “Buyer”
on the Schedule of Buyers attached to the Securities Purchase Agreement (collectively, the “Buyers”) are parties
to that Securities Purchase Agreement, pursuant to which the Company shall sell, and the Buyers shall purchase, the “Notes”
(as defined therein);

 

WHEREAS, pursuant
to that certain bridge loan agreement dated as of even date herewith between the Company and the Borrower (the “Bridge
Loan Agreement”), the Company has agreed to lend the proceeds of the Notes to the Borrower (the “Bridge Loan”);
and

 

WHEREAS, pursuant
to the Bridge Loan Agreement, the Borrower has agreed to grant a security interest in and to the Collateral (as defined in this
Agreement) to the Buyers on the terms and conditions set forth in this Agreement;

 

NOW, THEREFORE,
for and in consideration of the bridge loan and other premises and intending to be legally bound, the parties covenant and agree
as follows:

 

1.          Definitions.
In addition to the words and terms defined elsewhere in this Agreement, the following words and terms shall have the following
meanings, unless the context otherwise clearly requires:

 

“Accounts” shall
have the meaning given to that term in the Code and shall include without limitation all rights of the Borrower, whenever acquired,
to payment for goods sold or leased or for services rendered, whether or not earned by performance.

 

“Chattel Paper” shall
have the meaning given to that term in the Code and shall include without limitation all writings owned by the Borrower, whenever
acquired, which evidence both a monetary obligation and a security interest in or a lease of specific goods.

 

“Code” shall mean
the Uniform Commercial Code as in effect on the date of this Agreement and as amended from time to time, of the state or states
having jurisdiction with respect to all or any portion of the Collateral from time to time.

 

    	 

    	 

    

 

“Collateral” shall
mean (i) all tangible and intangible assets of the Borrower, including, without limitation, collectively the Accounts, Chattel
Paper, Deposit Accounts, Documents, Equipment, Fixtures, General Intangibles, Instruments, Intellectual Property, Inventory, Investment
Property, and (ii) Proceeds of each of them.

 

“Deposit Accounts”
shall have the meaning given to that term in the Code and shall include a demand, time, savings, passbook or similar account maintained
with a bank, savings bank, savings and loan association, credit union, trust company or other organization that is engaged in the
business of banking.

 

“Documents” shall
have the meaning given to that term in the Code and shall include without limitation all warehouse receipts (as defined by the
Code) and other documents of title (as defined by the Code) owned by the Borrower, whenever acquired.

 

“Equipment” shall
have the meaning given to that term in the Code and shall include without limitation all goods owned by the Borrower, whenever
acquired and wherever located, used or brought for use primarily in the business or for the benefit of the Borrower and not included
in Inventory of the Borrower, together with all attachments, accessories and parts used or intended to be used with any of those
goods or Fixtures, whether now or in the future installed therein or thereon or affixed thereto, as well as all substitutes and
replacements thereof in whole or in part.

 

“Event of Default”
shall mean (i) any of the Events of Default described in the Notes or the Loan Documents, or (ii) any default by the Borrower in
the performance of its obligations under this Agreement.

 

“Fixtures” shall
have the meaning given to that term in the Code, and shall include without limitation leasehold improvements.

 

“General Intangibles”
shall have the meaning given to that term in the Code and shall include, without limitation, all leases under which the Borrower
now or in the future leases and or obtains a right to occupy or use real or personal property, or both, all of the other contract
rights of the Borrower, whenever acquired, and customer lists, choses in action, claims (including claims for indemnification),
books, records, patents, copyrights, trademarks, blueprints, drawings, designs and plans, trade secrets, methods, processes, contracts,
licenses, license agreements, formulae, tax and any other types of refunds, returned and unearned insurance premiums, rights and
claims under insurance policies, and computer information, software, records and data, and oil, gas, or other minerals before extraction
now owned or acquired after the date of this Agreement by the Borrower.

 

“Instruments” shall
have the meaning given to that term in the Code and shall include, without limitation, all negotiable instruments (as defined in
the Code), all certificated securities (as defined in the Code) and all other writings which evidence a right to the payment of
money now or after the date of this Agreement owned by the Borrower.

 

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“Inventory” shall
have the meaning given to that term in the Code and shall include without limitation all goods owned by the Borrower, whenever
acquired and wherever located, held for sale or lease or furnished or to be furnished under contracts of service, and all raw materials,
work in process and materials owned by the Borrower and used or consumed in the Borrower’s business, whenever acquired and
wherever located.

 

“Investment Property,”
“Securities Intermediary” and “Commodities Intermediary” each shall have the meaning set forth in the Code.

 

“Loan
Documents” shall mean collectively, this Agreement, the Notes, the Securities Purchase Agreement and all other agreements,
documents and instruments executed and delivered in connection therewith, as each may be amended, supplemented or modified from
time to time.

 

“Permitted Liens”
shall mean all (i) all existing liens on the assets of the Borrower which have been disclosed to the Buyers by the Borrower on
a Schedule attached hereto or to the Bridge Loan Agreement, and (ii) all purchase money security interests hereinafter incurred
by the Borrower in the ordinary course of business.

 

“Proceeds” shall
have the meaning given to that term in the Code and shall include without limitation whatever is received when Collateral or Proceeds
are sold, exchanged, collected or otherwise disposed of, whether cash or non-cash, and includes without limitation proceeds of
insurance payable by reason of loss of or damage to Collateral.

 

Capitalized terms used
herein without definition shall have the meanings ascribed to them in the Securities Purchase Agreement. Capitalized terms not
otherwise defined in this Agreement or the Securities Purchase Agreement shall have the meanings attributed to such terms in the
Code.

 

2.          Security
Interest.

 

(a)        As
security for the full and timely payment of the Notes in accordance with the terms of the Securities Purchase Agreement and the
performance of the obligations of the Company under the Notes and the Bridge Loan Agreement, the Borrower agrees that the Buyers
shall have, and the Borrower shall grant and convey to and create in favor of the Buyers, a security interest under the Code in
and to the Collateral, whether now owned or existing or hereafter acquired or arising and regardless of where located. The security
interest granted to the Buyers in this Agreement shall be a first priority security interest, prior and superior to the rights
of all third parties existing on or arising after the date of this Agreement, subject to the Permitted Liens.

 

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(b)        All
of the Equipment, Inventory and Goods owned by the Borrower is located in the states as specified on Schedule I attached
hereto (except to the extent any such Equipment, Inventory or Goods is in transit or located at the Borrower’s job site in
the ordinary course of business). Except as disclosed on Schedule I, none of the Collateral is in the possession of any
bailee, warehousemen, processor or consignee. Schedule I discloses such Borrower name as of the date hereof as it appears
in official filings in the state or province, as applicable, of its incorporation, formation or organization, the type of entity
of Borrower (including corporation, partnership, limited partnership or limited liability company), the organizational identification
number issued by Borrower’s state of incorporation, formation or organization (or a statement that no such number has been
issued), and the chief place of business, chief executive officer and the office where Borrower keeps its books and records. The
Borrower has only one state or province, as applicable, of incorporation, formation or organization. The Borrower does not do business
and has not done business during the past five (5) years under any trade name or fictitious business name except as disclosed on
Schedule I attached hereto.

 

3.          Provisions
Applicable to the Collateral. The parties agree that the following provisions shall be applicable to the Collateral:

 

(a) The Borrower covenants
and agrees that at all times during the term of this Agreement it shall keep accurate and complete books and records concerning
the Collateral that is now owned by the Borrower.

 

(b) The Buyers or their
representatives shall have the right, upon reasonable prior written notice to the Borrower and during the regular business hours
of the Borrower, to examine and inspect the Collateral and to review the books and records of the Borrower concerning the Collateral
that is now owned or acquired after the date of this Agreement by the Borrower and to copy the same and make excerpts therefrom;
provided, however, that from and after the occurrence of an Event of Default, the rights of inspection and entry shall be subject
to the requirements of the Code.

 

(c) The Borrower shall
at all times during the term of this Agreement keep the Equipment, Inventory and Fixtures that are now owned by the Borrower in
the states set forth on Schedule I or, upon written notice to the Buyers, at such other locations for which the Buyers have
filed financing statements, and in no other states without 20 days’ prior written notice to the Buyers, except that the Borrower
shall have the right until one or more Events of Default shall occur to sell, move or otherwise dispose of Inventory and other
Collateral in the ordinary course of business.

 

(d) The Borrower shall
not move the location of its principal executive offices without prior written notification to the Buyers.

 

(e) Without the prior
written consent of the Buyers, the Borrower shall not sell, lease or otherwise dispose of any Equipment or Fixtures, except in
the ordinary course of their business.

 

(f) Promptly upon request
of the Buyers from time to time, the Borrower shall furnish the Buyers with such information and documents regarding the Collateral
and the Borrower’s financial condition, business, assets or liabilities, at such times and in such form and detail as the
Buyers may reasonably request.

 

(g) During the term
of this Agreement after the occurrence and during the continuance of an Event of Default, the Borrower shall deliver to the Buyers,
upon their reasonable, written request from time to time, without limitation,

 

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(i) all invoices
and customer statements rendered to account debtors, documents, contracts, chattel paper, instruments and other writings pertaining
to the Borrower’s contracts or the performance of the Borrower’s contracts,

 

(ii) evidence
of the Borrower’s accounts and statements showing the aging, identification, reconciliation and collection thereof, and

 

(iii) reports
as to the Borrower’s inventory and sales, shipment, damage or loss thereof, all of the foregoing to be certified by authorized
officers or other employees of the Borrower, and Borrower shall take all necessary action during the term of this Agreement to
perfect any and all security interests in favor of the Borrower and to assign to Buyers all such security interests in favor of
the Borrower.

 

(h) Notwithstanding
the security interest in the Collateral granted to and created in favor of the Buyers under this Agreement, the Borrower shall
have the right until one or more Events of Default shall occur and be continuing, at their own cost and expense, to collect the
Accounts and the Chattel Paper and to enforce their contract rights.

 

(i) After the occurrence
and during the continuance of an Event of Default, the Collateral Agent shall have the right, in its sole discretion, to give notice
of the Buyers’ security interest to account debtors obligated to the Borrower and to take over and direct collection of the
Accounts and the Chattel Paper, to notify such account debtors to make payment directly to the Buyers and to enforce payment of
the Accounts and the Chattel Paper and to enforce the Borrower’s contract rights. It is understood and agreed by the Borrower
that the Collateral Agent shall have no liability whatsoever under this subsection (i) except for their own gross negligence or
willful misconduct.

 

(j) At all times during
the term of this Agreement, the Borrower shall promptly deliver to the Collateral Agent, upon its written request, all existing
leases, and all other leases entered into by the Borrower from time to time, covering any Equipment or Inventory (“Leased
Inventory”) which is leased to third parties.

 

(k) The Borrower shall
not change its name, entity status, federal taxpayer identification number, or provincial organizational or registration number,
or the state under which it is organized without the prior written consent of the Buyers, which consent shall not be unreasonably
withheld.

 

(l) The Borrower shall
not close any of its Deposit Accounts or open any new or additional Deposit Accounts without first giving the Buyers at least fifteen
(15) days prior written notice thereof; however, Buyers grant Collateral Agent the power to waive a portion of the notice period
if such waiver does not harm Buyers’ security position.

 

(m) The Borrower shall
cooperate with the Buyers, at the Borrower’s reasonable expense, in perfecting Buyers’ security interest in any of
the Collateral.

 

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(n) The Collateral
Agent may file any necessary financing statements and other documents the Collateral Agent deems reasonably necessary in order
to perfect Buyers’ security interest without the Borrower’s signature. The Borrower grants to the Collateral Agent
a power of attorney for the sole purpose of executing any documents on behalf of the Borrower which the Collateral Agent deems
reasonably necessary to perfect Buyers’ security interest. Such power, coupled with an interest, is irrevocable.

 

4.          Actions
with Respect to Accounts. The Borrower irrevocably makes, constitutes and appoints the Collateral Agent its true and lawful
attorney-in-fact with power to sign its name and to take any of the following actions after the occurrence and prior to the cure
of an Event of Default, at any time without notice to the Borrower and at the Borrower’s reasonable expense:

 

(a) Verify the validity
and amount of, or any other matter relating to, the Collateral by mail, telephone, telegraph or otherwise;

 

(b) Notify all account
debtors that the Accounts have been assigned to the Buyers and that the Buyers have a security interest in the Accounts;

 

(c) Direct all account
debtors to make payment of all Accounts directly to the Buyers;

 

(d) Take control in
any reasonable manner of any cash or non-cash items of payment or proceeds of Accounts;

 

(e) Take control in
any manner of any rejected, returned, stopped in transit or repossessed goods relating to Accounts;

 

(f) Enforce payment
of and collect any Accounts, by legal proceedings or otherwise, and for such purpose the Buyers may:

 

(1) Demand
payment of any Accounts or direct any account debtors to make payment of Accounts directly to the Buyers;

 

(2) Receive
and collect all monies due or to become due to the Borrower pursuant to the Accounts;

 

(3) Exercise
all of the Borrower’s rights and remedies with respect to the collection of Accounts;

 

(4) Settle,
adjust, compromise, extend, renew, discharge or release Accounts in a commercially reasonable manner;

 

(5) Sell
or assign Accounts on such reasonable terms, for such reasonable amounts and at such reasonable times as the Buyers reasonably
deem advisable;

 

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(6) Prepare,
file and sign the Borrower’s name or names on any Proof of Claim or similar documents in any proceeding filed under federal
or state bankruptcy, insolvency, reorganization or other similar law as to any account debtor;

 

(7) Prepare,
file and sign the Borrower’s name or names on any notice of lien, claim of mechanic’s lien, assignment or satisfaction
of lien or mechanic’s lien or similar document in connection with the Collateral;

 

(8) Endorse
the name of the Borrower upon any chattel papers, documents, instruments, invoices, freight bills, bills of lading or similar documents
or agreements relating to Accounts or goods pertaining to Accounts or upon any checks or other media of payment or evidence of
a security interest that may come into the Buyers’ possession;

 

(9) Sign
the name or names of the Borrower to verifications of Accounts and notices of Accounts sent by account debtors to the Borrower;
or

 

(10) Take
all other actions that the Buyers reasonably deem to be necessary or desirable to protect the Borrower’s interest in the
Accounts.

 

(g) Negotiate and endorse
any Document in favor of the Buyers or their designees, covering Inventory which constitutes Collateral, and related documents
for the purpose of carrying out the provisions of this Agreement and taking any action and executing in the name(s) of Borrower
any instrument which the Buyers may reasonably deem necessary or advisable to accomplish the purpose hereof. Without limiting the
generality of the foregoing, the Collateral Agent shall have the right and power to receive, endorse and collect checks and other
orders for the payment of money made payable to the Borrower representing any payment or reimbursement made under, pursuant to
or with respect to, the Collateral or any part thereof and to give full discharge to the same. This power, being coupled with an
interest, is irrevocable until the Notes are paid in full or converted into equity interests in accordance with their terms (at
which time this power shall terminate in full) and the Borrower shall have performed all of its obligations under this Agreement.
The Borrower further agrees to use its reasonable efforts to assist the Collateral Agent in the collection and enforcement of the
Accounts and will not hinder, delay or impede the Buyers in any manner in its collection and enforcement of the Accounts.

 

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5.          Preservation
and Protection of Security Interest. The Borrower represents and warrants that it has, and covenants and agrees that at all
times during the term of this Agreement, it will have, good and marketable title to the Collateral now owned by it free and clear
of all mortgages, pledges, liens, security interests, charges or other encumbrances, except for the Permitted Liens and those junior
in right of payment and enforcement to that of the Buyers or in favor of the Buyers, and shall defend the Collateral against the
claims and demands of all persons, firms and entities whomsoever. Assuming Buyers have taken all required action to perfect a security
interest in the Collateral as provided by the Code, the Borrower represents and warrants that as of the date of this Agreement
the Buyers have, and that all times in the future the Buyers will have, a first priority perfected security interest in the Collateral,
prior and superior to the rights of all third parties in the Collateral existing on the date of this Agreement or arising after
the date of this Agreement, subject to the Permitted Liens. Except as permitted by this Agreement, the Borrower covenants and agrees
that it shall not, without the prior written consent of the Buyers (i) borrow against the Collateral or any portion of the Collateral
from any other person, firm or entity, except for borrowings which are subordinate to the rights of the Buyers, (ii) grant or create
or permit to attach or exist any mortgage, pledge, lien, charge or other encumbrance, or security interest on, of or in any of
the Collateral or any portion of the Collateral except those in favor of the Buyers or the Permitted Liens, (iii) permit any levy
or attachment to be made against the Collateral or any portion of the Collateral, except those subject to the Permitted Liens,
or (iv) permit any financing statements to be on file with respect to any of the Collateral, except financing statements in favor
of the Buyers or those with respect to the Permitted Liens. The Borrower shall faithfully preserve and protect the Buyers’
security interest in the Collateral and shall, at its own reasonable cost and expense, cause, or assist the Buyers to cause that
security interest to be perfected and continue perfected so long as the Notes or any portion of the Notes are outstanding, unpaid
or executory. For purposes of the perfection of the Buyers’ security interest in the Collateral in accordance with the requirements
of this Agreement, the Borrower shall from time to time at the request of the Buyers file or record, or cause to be filed or recorded,
such instruments, documents and notices, including assignments, financing statements and continuation statements, as the Buyers
may reasonably deem necessary or advisable from time to time in order to perfect and continue perfected such security interest.
The Borrower shall do all such other acts and things and shall execute and deliver all such other instruments and documents, including
further security agreements, pledges, endorsements, assignments and notices, as the Buyers in their discretion may reasonably deem
necessary or advisable from time to time in order to perfect and preserve the priority of such security interest as a first lien
security interest in the Collateral prior to the rights of all third persons, firms and entities, subject to the Permitted Liens
and except as may be otherwise provided in this Agreement. The Borrower agrees that a carbon, photographic or other reproduction
of this Agreement or a financing statement is sufficient as a financing statement and may be filed instead of the original.

 

6.          Insurance.
Risk of loss of, damage to or destruction of the Equipment, Inventory and Fixtures is on the Borrower. The Borrower shall insure
the Equipment, Inventory and Fixtures against such risks and casualties and in such amounts and with such insurance companies as
is ordinarily carried by corporations or other entities engaged in the same or similar businesses and similarly situated or as
otherwise reasonably required by the Buyers in their sole discretion. In the event of loss of, damage to or destruction of the
Equipment, Inventory or Fixtures during the term of this Agreement, the Borrower shall promptly notify Buyers of such loss, damage
or destruction. At the reasonable request of the Buyers, the Borrower’s policies of insurance shall contain loss payable
clauses in favor of the Borrower and the Buyers as their respective interests may appear and shall contain provision for notification
of the Buyers thirty (30) days prior to the termination of such policy. At the request of the Buyers, copies of all such policies,
or certificates evidencing the same, shall be deposited with the Buyers. If the Borrower fails to effect and keep in full force
and effect such insurance or fail to pay the premiums when due, the Buyers may (but shall not be obligated to), no sooner than
five (5) business days after delivering written notice to Borrower, do so for the account of the Borrower and add the cost thereof
to the Notes, upon five (5) days written notice to Borrower. The Buyers are irrevocably appointed attorney-in-fact of the Borrower
to endorse any draft or check which may be payable to the Borrower in order to collect the proceeds of such insurance. Unless an
Event of Default has occurred and is continuing, the Buyers will turn over to the Borrower the proceeds of any such insurance collected
by it on the condition that the Borrower apply such proceeds either (i) to the repair of damaged Equipment, Inventory or Fixtures;
(ii) to the replacement of destroyed Equipment, Inventory or Fixtures with Equipment, Inventory or Fixtures of the same or similar
type and function and of at least equivalent value (in the sole judgment of the Buyers), provided such replacement Equipment, Fixtures
or Inventory is made subject to the security interest created by this Agreement and constitutes a first lien security interest
in the Equipment, Inventory and Fixtures subject only to Permitted Liens and other security interests permitted under this Agreement,
and is perfected by the filing of financing statements in the appropriate public offices and the taking of such other action as
may be necessary or desirable in order to perfect and continue perfected such security interest; or (iii) to and for a purpose
expressly agreed upon by Borrower and Buyers. Any balance of insurance proceeds remaining in the possession of the Buyers after
payment in full of the Notes shall be paid over to the Borrower or its order.

 

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7.          Maintenance
and Repair. The Borrower shall maintain the Equipment, Inventory and Fixtures, and every portion thereof, in good condition,
repair and working order, reasonable wear and tear alone excepted, and shall pay and discharge all taxes, levies and other impositions
assessed or levied thereon as well as the cost of repairs to or maintenance of the same. If the Borrower fails to do so, the Buyers
may (but shall not be obligated to), no sooner than five (5) business days after delivering written notice to Borrower, pay the
cost of such repairs or maintenance and such taxes, levies or impositions for the account of the Borrower and add the amount of
such payments to the Notes, upon five (5) day written notice to Borrower.

 

8.          Preservation
of Rights Against Third Parties; Preservation of Collateral in Buyers’s Possession. Until such time as the Buyers exercise
their right to effect direct collection of the Accounts and the Chattel Paper and to effect the enforcement of the Borrower’s
contract rights, the Borrower assumes full responsibility for taking any and all commercially reasonable steps to preserve rights
in respect of the Accounts and the Chattel Paper and their contracts against prior parties. The Buyers shall be deemed to have
exercised reasonable care in the custody and preservation of such of the Collateral as may come into its possession from time to
time if the Buyers take such action for that purpose as the Borrower shall request in writing, provided that such requested action
shall not, in the judgment of the Buyers, impair the Buyers’ security interest in the Collateral or its right in, or the
value of, the Collateral, and provided further that the Buyers receive such written request in sufficient time to permit the Buyers
to take the requested action.

 

9.          Events
of Default and Remedies.

 

(a) If any one or more
of the Events of Default shall occur or shall exist, the Collateral Agent may then or at any time thereafter, so long as such default
shall continue, foreclose the lien or security interest in the Collateral in any way permitted by law, or upon thirty (30) days
prior written notice to the Borrower, sell any or all Collateral at private sale at any time or place in one or more sales, at
such price or prices and upon such terms, either for cash or on credit, as the Collateral Agent, in its commercially reasonable
sole discretion, may elect, or sell any or all Collateral at public auction, either for cash or on credit, as the Collateral Agent,
in its commercially reasonable sole discretion, may elect, provided, that any such sale shall comply with applicable law, and at
any such sale, the Collateral Agent may bid for and become the purchaser of any or all such Collateral. Pending any such action
the Collateral Agent may liquidate the Collateral.

 

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(b) If any one or more
of the Events of Default shall occur or shall exist, the Collateral Agents may then, or at any time thereafter, so long as such
default shall continue, grant extensions to, or adjust claims of, or make compromises or settlements with, debtors, guarantors
or any other parties with respect to Collateral or any securities, guarantees or insurance applying thereon, without notice to
or the consent of the Borrower, without affecting the Borrower’s liability under this Agreement or the Notes. The Borrower
waives notice of acceptance, of nonpayment, protest or notice of protest of any Accounts or Chattel Paper, any of its contract
rights or Collateral and any other notices to which the Borrower may be entitled.

 

(c) If any one or more
of the Events of Default shall occur or shall exist and be continuing, then in any such event, the Collateral Agent shall have
such additional rights and remedies in respect of the Collateral or any portion thereof as are provided by the Code and such other
rights and remedies in respect thereof which it may have at law or in equity or under this Agreement, including without limitation
the right to enter any premises where Equipment, Inventory and/or Fixtures are located and take possession and control thereof
without demand or notice and without prior judicial hearing or legal proceedings, which the Borrower expressly waives.

 

(d) The Collateral
Agent shall apply the Proceeds of any sale or liquidation of the Collateral, and, subject to Section 5, any Proceeds received by
the Collateral Agent from insurance, first to the payment of the reasonable costs and expenses incurred by the Collateral Agent
in connection with such sale or collection, including without limitation reasonable attorneys’ fees and legal expenses; second
to the payment of the Notes, pro rata, whether on account of principal or interest or otherwise as the Collateral Agent, in its
sole discretion, may elect, and then to pay the balance, if any, to the Borrower or as otherwise required by law. If such Proceeds
are insufficient to pay the amounts required by law, the Borrower shall be liable for any deficiency.

 

(e) Upon the occurrence
and during the continuance of any Event of Default, the Borrower shall promptly upon written demand by the Collateral Agent assemble
the Equipment, Inventory and Fixtures and make them available to the Buyers at a place or places to be designated by the Collateral
Agent The rights of the Collateral Agent under this paragraph to have the Equipment, Inventory and Fixtures assembled and made
available to it is of the essence of this Agreement and the Collateral Agent may, at its election, seek to enforce such right by
an action in equity for injunctive relief or specific performance, without the requirement of a bond.

 

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10.         Defeasance.
Notwithstanding anything to the contrary contained in this Agreement upon payment and performance in full of the Notes or their
conversion into equity interests in accordance with their terms, this Agreement shall terminate and be of no further force and
effect and the Buyers shall thereupon terminate their security interest in the Collateral, including promptly filing a UCC-3 termination
statement and taking such other actions necessary to evidence such termination. Until such time, however, this Agreement shall
be binding upon and inure to the benefit of the parties, their successors and assigns, provided that, without the prior written
consent of the Buyers, the Borrower may not assign this Agreement or any of its rights under this Agreement or delegate any of
its duties or obligations under this Agreement and any such attempted assignment or delegation shall be null and void. This Agreement
is not intended and shall not be construed to obligate the Buyers to take any action whatsoever with respect to the Collateral
or to incur expenses or perform or discharge any obligation, duty or disability of the Borrower.

 

11.         The
Collateral Agent.

 

(a)          Delegation
of Duties. The Collateral Agent may execute any of its duties under this Agreement or any other Transaction Document by or
through agents, employees or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to
such duties. The Collateral Agent shall not be responsible for the negligence or misconduct of any agent or attorney in fact that
it selects with reasonable care.

 

(b)          Liability
of Collateral Agent. None of the Collateral Agent Related Persons (as defined below) shall (i) be liable for any action taken
or omitted to be taken by any of them under or in connection with this Agreement or any other Transaction Document or the transactions
contemplated hereby (except for its own gross negligence or willful misconduct), or (ii) be responsible in any manner to any of
the Buyers for any recital, statement, representation or warranty made by any other party, or any officer thereof, contained in
this Agreement or in any other Transaction Document, or in any certificate, report, statement or other document referred to or
provided for in, or received by the Collateral Agent under or in connection with, this Agreement or any other Transaction Document,
or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Transaction Document,
or for any failure of any other party to this Agreement or any other Transaction Document to perform its obligations hereunder
or thereunder. No Collateral Agent Related Person shall be under any obligation to any Buyer to ascertain or to inquire as to the
observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Transaction Document,
or to inspect the properties, books or records of the Company or any of the Company’s Subsidiaries or Affiliates. “Collateral
Agent Related Persons” means the Collateral Agent and any successor agent arising hereunder, together with their respective
affiliates, and the officers, directors, employees, agents and attorneys-in-fact of such persons and affiliates.

 

(c)          Reliance
by Collateral Agent. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing,
resolution, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, statement or other
document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper person or
persons, and upon advice and statements of legal counsel (including counsel to the Company or the Borrower), independent accountants
and other experts selected by the Collateral Agent. The Collateral Agent shall be fully justified in failing or refusing to take
any action under this Agreement or any other Transaction Document unless it shall first receive such advice or concurrence of the
Majority Buyers as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Buyers
against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.
The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any
other Transaction Document in accordance with a request or consent of the Majority Buyers and such request and any action taken
or failure to act pursuant thereto shall be binding upon all of the Buyers. “Majority Buyers” means at any time a Buyer
or Buyers then holding in excess of 50% of the then aggregate unpaid principal amount of the Notes.

 

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(d)          Notice
of Default. The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any default or Event
of Default, except with respect to defaults in the delivery of any documents or certificates required to be delivered to the Collateral
Agent hereunder for the benefit of the Buyers, unless the Collateral Agent shall have received written notice from a Buyer or the
Company or the Borrower referring to this Agreement, describing such default or Event of Default and stating that such notice is
a “notice of default”. The Collateral Agent will notify the Buyers of its receipt of any such notice. The Collateral
Agent shall take such action with respect to such Default or Event of Default as may be requested by the Majority Buyers in accordance
with this Agreement; provided, however, that unless and until the Collateral Agent has received any such request, the Collateral
Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such default or
Event of Default as it shall deem advisable or in the best interest of the Buyers.

 

(e)          Indemnification
of Collateral Agent. Whether or not the transactions contemplated hereby and by the other Transaction Documents are consummated,
the Buyers shall indemnify upon demand the Collateral Agent Related Persons (to the extent not reimbursed by or on behalf of the
Company or the Borrower and without limiting the obligation of the Company or the Borrower to do so), pro rata, from and against
any and all Indemnified Liabilities (as defined below); provided, however, that no Buyer shall be liable for the payment to the
Collateral Agent Related Persons of any portion of such Indemnified Liabilities resulting solely from such Person’s gross
negligence or willful misconduct. Without limitation of the foregoing, each Buyer shall reimburse the Collateral Agent upon demand
for its ratable share of any costs or out of pocket expenses (including fees and disbursements of legal counsel) incurred by the
Collateral Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement
(whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under,
this Agreement, any other Transaction Document, or any document contemplated by or referred to herein, to the extent that the Collateral
Agent is not reimbursed for such expenses by or on behalf of the Company. Notwithstanding the foregoing, no Buyer shall be required
to pay, in total under this paragraph (e) and any similar provision in any other Transaction Document, any amount in excess of
the total gross purchase price of the Notes purchased by such Buyer. The undertaking in this paragraph shall survive the payment
of all obligations hereunder and the resignation or replacement of the Collateral Agent. “Indemnified Liabilities”
means all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, charges, expenses and disbursements
(including fees and disbursements of legal counsel) of any kind or nature whatsoever which may at any time (including at any time
following repayment of the Notes and the termination, resignation or replacement of the Collateral Agent) be imposed on, incurred
by or asserted against any Collateral Agent Related Person in any way relating to or arising out of this Agreement or any document
contemplated by or referred to herein, or the transactions contemplated hereby and thereby, or any action taken or omitted by any
such Collateral Agent Related Person under or in connection with any of the foregoing, including with respect to any investigation,
litigation or proceeding (including any bankruptcy or insolvency proceeding or appellate proceeding) related to or arising out
of this Agreement or the Notes or the other Transaction Documents or the use of the proceeds thereof, whether or not any Collateral
Agent Related Person is a party thereto.

 

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(f)          Collateral
Agent in Individual Capacity. Any Collateral Agent Related Person may engage in transactions with, make loans to, acquire equity
interests in and generally engage in any kind of business with the Company or the Borrower and their affiliates, including purchasing
and holding Notes, as though the Collateral Agent were not the Collateral Agent hereunder and without notice to or consent of the
Buyers. The Buyers acknowledge that, pursuant to such activities, any Collateral Agent Related Person may receive information regarding
the Company or the Borrower and their affiliates (including information that may be subject to confidentiality obligations in favor
of the Company or the Borrower and their affiliates) and acknowledge that the Collateral Agent shall be under no obligation to
provide such information to them. With respect to any Notes it holds, a Collateral Agent Related Person shall have the same rights
and powers under this Agreement as any other Buyer and may exercise the same as though the Collateral Agent were not the Collateral
Agent, and the terms “Buyer” and “Buyers” include any such Collateral Agent Related Person in its individual
capacity.

 

(g)          Successor
Collateral Agent. The Collateral Agent may, and at the request of the Majority Buyers shall, resign as Collateral Agent
upon 30 days’ notice to the Buyers. If the Collateral Agent resigns under this Agreement, the Majority Buyers shall
appoint from among the Buyers a successor agent for the Buyers, which successor agent shall be approved by the Company, such
approval not to be unreasonably withheld. If no successor agent is appointed prior to the effective date of the resignation
of the Collateral Agent, the Collateral Agent may appoint, after consulting with the Buyers and the Company, a successor
agent from among the Buyers. Upon the acceptance of its appointment as successor agent hereunder, such successor agent shall
succeed to all the rights, powers and duties of the retiring Collateral Agent and the term “Collateral Agent”
shall mean such successor agent and the retiring Collateral Agent’s appointment, powers and duties as Collateral Agent
shall be terminated. After any retiring Collateral Agent’s resignation hereunder as Collateral Agent, the provisions of
this Section 11 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent
under this Agreement. If no successor agent has accepted appointment as Collateral Agent by the date which is 30 days
following a retiring Collateral Agent’s notice of resignation, the retiring Collateral Agent’s resignation shall
nevertheless thereupon become effective and the Buyers shall perform all of the duties of the Collateral Agent hereunder
until such time, if any, as the Majority Buyers appoint a successor agent as provided for above.

 

12.         Miscellaneous.

 

(a) The provisions
of this Agreement are intended to be severable. If any provision of this Agreement shall for any reason be held invalid or unenforceable
in whole or in part in any jurisdiction, such provision shall, as to such jurisdiction, be ineffective to the extent of such invalidity
or unenforceability without in any manner affecting the validity or enforceability of such provision in any other jurisdiction
or any other provision of this Agreement in any jurisdiction.

 

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(b) No failure or delay
on the part of the Buyers in exercising any right, remedy, power or privilege under this Agreement and the Notes shall operate
as a waiver thereof or of any other right, remedy, power or privilege of the Buyers under this Agreement, the Notes or any of the
other Loan Documents; nor shall any single or partial exercise of any such right, remedy, power or privilege preclude any other
right, remedy, power or privilege or further exercise thereof or the exercise of any other right, remedy, power or privilege. The
rights, remedies, powers and privileges of the Buyers under this Agreement, the Notes and the other Loan Documents are cumulative
and not exclusive of any rights or remedies which they may otherwise have.

 

(c) Unless otherwise
provided herein, all demands, notices, consents, service of process, requests and other communications hereunder shall be in writing
and shall be delivered in person or by overnight courier service, or mailed by certified mail, return receipt requested, addressed:

 

If to Borrower:

 

BOLDFACE Licensing + Branding

1945 Euclid Street

Santa Monica, CA 90404

Attn: Nicole Ostoya, President

Facsimile: 310.581.4652

 

with a copy to:

 

Eisner, Kahan & Gorry,

a Professional Corporation

9601 Wilshire Blvd., Suite 700

Beverly Hills, CA 90210

Telephone: 310.855.3200

Attn: Joseph O’Hara, Esq.

Facsimile: 310.855.3201

 

If to Collateral Agent:

 

Gottbetter & Partners, LLP

488 Madison Avenue, 12th Floor

New York, NY 10022

Attn: Adam S. Gottbetter, Esq.

Facsimile: (212) 400-6901

 

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Any such notice shall be effective when
delivered, if delivered by hand delivery, overnight courier service, or U.S. Mail return receipt requested.

 

(d) The section headings
contained in this Agreement are for reference purposes only and shall not control or affect its construction or interpretation
in any respect.

 

(e) Unless the context
otherwise requires, all terms used in this Agreement which are defined by the Code shall have the meanings stated in the Code.

 

(f) The Code shall
govern the settlement, perfection and the effect of attachment and perfection of the Buyers’ security interest in the Collateral,
and the rights, duties and obligations of the Buyers and the Borrower with respect to the Collateral. This Agreement shall be deemed
to be a contract under the laws of the State of New York and the execution and delivery of this Agreement and, to the extent not
inconsistent with the preceding sentence, the terms and provisions of this Agreement shall be governed by and construed in accordance
with the laws of that State.

 

(g) This Agreement
may be executed in several counterparts, each of which shall be deemed an original but all of which shall constitute one and the
same instrument. All of such counterparts shall be read as though one, and they shall have the same force and effect as though
all the signers had signed a single page.

 

[SIGNATURE PAGE FOLLOWS]

 

    	15

    	 

    

 

IN WITNESS WHEREOF, and intending
to be legally bound, the parties have executed and delivered this Security Agreement as of the day and year set forth at the beginning
of this Security Agreement.

 

	 	BORROWER:
	 	 
	 	BOLDFACE LICENSING + BRANDING
	 	 
	 	By: 	/s/ Nicole Ostoya
	 	Name:  Nicole Ostoya
	 	Title:  President

 

ACCEPTED BY:

 

GOTTBETTER & PARTNERS, LLP

as Collateral Agent

 

	By:	      /s/ Adam S. Gottbetter	 
	 	Name: Adam S. Gottbetter	 
	 	Title: Managing Partner	 

 

[SIGNATURE PAGE TO SECURITY AGREEMENT]Exhibit “A” to the Bridge
Loan Agreement

 

THE ISSUANCE AND SALE OF THIS NOTE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS.  THE SECURITIES MAY
NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (I) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (II) AN OPINION OF COUNSEL, IN A FORM REASONABLY ACCEPTABLE TO THE LENDER, THAT
REGISTRATION IS NOT REQUIRED UNDER SAID ACT. 

 

10% Secured Bridge Loan Promissory Note

 

	$__________	May __, 2012

 

FOR VALUE RECEIVED,
BOLDFACE LICENSING + BRANDING, a Nevada corporation (hereinafter called the “Borrower”), hereby promises to
pay to the order of MAX CASH MEDIA, INC., a Nevada corporation (hereinafter called the “Lender”), the principal
sum of                                          
Dollars ($_______) (the “Loan”), in lawful money of the United States of America and in immediately available funds.

 

1.          The
outstanding principal balance of this Note shall be due and payable on the earliest to occur of (i) November ___, 2012 (the “Due
Date”), which Due Date may be extended by the Borrower and the Lender in writing, (ii) the closing of any subsequent financing
in favor of the Borrower that results in gross proceeds to the Borrower of an amount equal to or greater than the aggregate amount
loaned to the Borrower under the Bridge Loan Agreement of even date herewith (as it may be amended, restated, supplemented or otherwise
modified from time to time, being hereinafter called the “Bridge Loan Agreement”) and (iii) the date of closing of
the merger between the Borrower and the Lender, or an affiliate of the Lender (the “Merger”), as defined in the Bridge
Loan Agreement (the earliest such date, the “Repayment Date”); provided, however, that upon the consummation
of the Merger, all indebtedness evidenced hereby shall be deemed canceled and paid in full.

 

2.          The
Borrower further promises to pay interest on the unpaid principal amount of this Note at a rate per annum equal to ten percent
(10%), payable on the Repayment Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months for the
actual number of days elapsed; provided, however, that upon the consummation of the Merger, all interest accrued
hereunder shall be deemed canceled and paid in full.

 

3.          Upon
an “Event of Default,” as defined in the Bridge Loan Agreement, interest shall begin to accrue on the unpaid principal
balance of this Note at the rate of interest specified in Section 2 PLUS five percent (5%) per annum, or such lower maximum amount
of interest permitted to be charged under applicable law. Such default interest rate shall continue until all defaults are cured.

 

    	 

    	 

    

 

4.          This
Note is subject to the terms of the Bridge Loan Agreement. All capitalized and undefined terms herein shall have the meaning given
them in the Bridge Loan Agreement.

 

5.          Upon
the occurrence of an Event of Default (including the passage of applicable cure periods) under paragraphs (f) or (g) of Section
4.1 of the Bridge Loan Agreement, the entire principal amount outstanding hereunder, together with all other sums due hereunder,
shall, as provided in the Bridge Loan Agreement, become immediately due and payable. Upon the occurrence of an Event of Default
(including the passage of applicable cure periods) under any paragraph of Section 4.1 other than paragraphs (f) or (g) of the Bridge
Loan Agreement, the entire principal amount outstanding hereunder, together with all other sums due hereunder, may, as provided
in the Bridge Loan Agreement, become immediately due and payable.

 

Notwithstanding the
foregoing, if an Event of Default is waived by the Lender, the Borrower shall use its reasonable best efforts to ensure that the
Merger and the Transactions are consummated.

 

6.          The
obligations of the Borrower to the Lender under this Note are secured pursuant to the Newco Pledge Agreement and the Newco Security
Agreement (each as defined in the Bridge Loan Agreement) of even date herewith. In addition to the rights and remedies given it
by the Bridge Loan Agreement, this Note, the Newco Pledge Agreement and the Newco Security Agreement, the Lender shall have all
those rights and remedies allowed by applicable laws. The rights and remedies of the Lender are cumulative and recourse to one
or more right or remedy shall not constitute a waiver of the others. The Borrower shall be liable for all commercially reasonable
costs, expenses and attorneys’ fees incurred by the Lender in connection with the collection of the indebtedness evidenced
by the Note.

 

7.          To
the extent permitted by applicable law, the Borrower waives all rights and benefits of any statute of limitations, moratorium,
reinstatement, marshalling, forbearance, valuation, stay, extension, redemption, appraisement and exemption now provided or which
may hereafter by provided by law, both as to itself and as to all of its properties, real and personal, against the enforcement
and collection of the indebtedness evidenced hereby.

 

8.          All
notices, requests, demands, and other communications with respect hereto shall be in writing and shall be delivered by hand, sent
prepaid by a nationally-recognized overnight courier service or sent by the United States mail, certified, postage prepaid, return
receipt requested, at the addresses designated in the Bridge Loan Agreement or such other address as the parties may designate
to each other in writing.

 

9.          This
Note or any provision hereof may be waived, changed, modified or discharged only by agreement in writing signed by the Borrower
and the Lender. The Borrower may not assign or transfer its obligation hereunder without the prior written consent of the Lender.
The Lender may assign or transfer this Note or its rights hereunder without the prior written consent of the Borrower.

 

    	2

    	 

    

 

10.         The
term “the Borrower” shall include each person and entity now or hereafter liable hereunder, whether as maker, successor,
assignee or endorsee, each of whom shall be jointly, severally and primarily liable for all of the obligations set forth herein.

 

11.         If
any provision of this Note shall for any reason be held invalid or unenforceable, such invalidity or unenforceability shall not
affect any other provision of this Note, but this Note shall be construed as if this Note had never contained the invalid or unenforceable
provision.

 

12.         This
Note shall be governed by and construed in accordance with the domestic laws of the State of New York, without giving effect to
any choice of law provision or rule. Any controversy or dispute arising out of or relating to this Note shall be settled solely
and exclusively in accordance with the provisions of the Bridge Loan Agreement and the Newco Security Agreement, which provisions
are incorporated by reference herein as though fully set forth.

 

[Remainder of
Page Intentionally Left Blank]

 

    	3

    	 

    

 

IN WITNESS WHEREOF, the undersigned
Borrower has caused the due execution of this Bridge Loan Promissory Note as of the day and year first herein above written.

 

	 	BOLDFACE LICENSING + BRANDING
	 	 
	 	By:	 
	 	Name:
	 	Title:

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