Document:

Exhibit 10.1

       

      LOAN
ASSIGNMENT AGREEMENT

       

      THIS LOAN
ASSIGNMENT AGREEMENT (the “Agreement”) is executed and
delivered this 29th day of
December, 2010 (the “Closing
Date”), by and between Sibling Entertainment Group Holdings, Inc.,
a  Texas corporation (“SIBE”), Sibling Theatricals,
Inc., a _____ corporation (“Borrower”), and SIBE Debt
Resolution, LLC, a ___________ limited liability company (the “Company”).

       

      Background

       

      The
Company was organized on December __, 2010, for the sole purpose of holding a
loan and security agreement (the “Loan Documents”) evidencing a
loan made by SIBE to Borrower in the original principal amount of $2,555,000
(the “Loan”) which,
pursuant to this Agreement, SIBE is assigning to the Company.  The
Loan was made using the proceeds received by SIBE from the sale of $2,555,000 in
principal amount of SIBE’s 13% Series AA Secured Convertible Debentures (the
“Debentures”).  SIBE
intends to transfer all of its ownership interest in the Company to the holders
of the Debentures in furtherance of a proposed settlement of the obligations of
SIBE due to the holders of Debentures.

       

      Agreement

       

      For and
inconsideration of the premises and for other good and valuable consideration
the receipt and sufficiency of which is hereby acknowledged, the parties
agree:

       

      Section
1.        Assignment of Loan
Documents

       

      Section
1.1        Transfer and
Assignment.  SIBE
hereby transfers, assigns, conveys, and delivers to the Company the Loan, any
and all security interests in the assets of Borrower in favor of the Company,
the Loan Documents and all rights of SIBE thereunder, all WITHOUT RECOURSE
(collectively, the “Assigned
Assets”).  The Assigned Assets constitute substantially all of
the assets of SIBE.  SIBE hereby directs Borrower to make all payments
in respect of the Loan to the Company and not to SIBE.  SIBE agrees
that in the event payments in respect of the Loan are received by SIBE such
payments will be turned over to the Company in the form in which they were
received by SIBE.

       

      Section
1.2        Consent to Transfer
and Assignment.  Borrower
hereby acknowledges and reaffirms its obligations under the Loan Documents,
confirms that its assets are subject to a first priority security interest
created by the Loan Documents, and irrevocably consents to the assignment and
transfer of the Loan, the Loan Documents, and the security interest in the
assets of Borrower to the Company.  Borrower irrevocably waives and
relinquishes any and all defenses to the enforcement of the Loan, the Loan
Documents, the perfection, transfer, and foreclosure of the security interest
created by the Loan Documents, and payment of the indebtedness evidenced the
Loan Documents.

       

      Section
1.3        Assumption of Certain
Liabilities.  At the
Closing, the Company shall assume, perform, discharge, and become obligated for,
commencing and effective from and after the Closing Date, (a) the
obligations and liabilities of SIBE arising under the Loan Documents and the
Debentures, and (b) the liabilities of SIBE listed on Section 1.2 of the
Disclosure Letter delivered to the Company at Closing (the “Assumed
Liabilities”).

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Section
1.4        Issuance of
Shares.  For and
in consideration of the transfer of the Assigned Assets, the Company hereby
issues and delivers to SIBE a certificate registered in the name of SIBE
evidencing 1,000,000 shares of limited liability company membership interests of
the Company (the “Shares”).

       

      Section
2.        The
Closing

       

      Section
2.1        Closing. 
The
closing of the contribution to the Company of the Assigned Assets and the
assumption of the Assumed Liabilities (the “Closing”) was held at 10:00
o’clock a.m. eastern time on the Closing Date at the offices of
SIBE.

       

      Section
2.2        Deliveries at the
Closing.  At the
Closing:

       

      (a)        The
Company delivered the Shares to SIBE against delivery of the Assigned
Assets.

       

      (b)        At
the Closing, SIBE delivered the Loan Documents duly endorsed for transfer to the
Company and such other bills of sale and assignments, as the Company requested,
effectively vesting in the Company good and valid title to the Assigned
Assets.

       

      Section
3.        Representations and
Warranties of SIBE. 

       

      Section
3.1        Organization and
Qualification.  SIBE is a
corporation duly organized, validly existing, and in good standing under the
laws of the State of Texas and has all corporate power and authority to conduct
its business, to own, lease, or operate its properties in the places where its
business is conducted and such properties are owned, leased, or
operated.

       

      Section
3.2        Authority. 
SIBE has
the full power and authority to enter into this Agreement and to consummate the
transactions contemplated hereby.  The execution, delivery, and
performance of this Agreement by SIBE has been duly and validly authorized and
approved by all necessary action on the part of SIBE, and this Agreement is the
legal, valid, and binding obligation of SIBE, enforceable against SIBE in
accordance with its terms, except as enforceability may be limited by applicable
equitable principles or by bankruptcy, insolvency, reorganization, moratorium,
or similar laws affecting creditors’ rights generally, and to the exercise of
judicial discretion in accordance with general equitable
principles.

       

      Section
3.3        Consents and
Approvals.  Except
for the consent of Borrower set forth herein, no authorization, consent,
approval, designation or declaration by, or filing with, any public body,
governmental authority, bureau, or agency is necessary or required as a
condition to the validity of this Agreement and the consummation of the
transactions contemplated hereby.

       

      Section
3.4        Assigned Assets. 
Except
for the security interest in favor of the holders of the Debentures, SIBE has
good and marketable title to all of the Assigned Assets, free and clear of all
liens, claims, charges, security interests, and other encumbrances of any kind
or of any nature.

       

      Section
3.5        Litigation. 
Except as
set forth in Section 3.5 of the Disclosure Letter, there are no formal or
informal complaints, investigations, claims, charges, arbitration, grievances,
actions, suits, or proceedings pending, or to the knowledge of SIBE threatened
against, or affecting SIBE, or any of the Assigned Assets at law or in equity or
admiralty, or before or by any federal, state, municipal, or other governmental
department, commission, board, bureau, agency, or instrumentality, domestic or
foreign.  SIBE is not subject to any order, writ, injunction, or decree of
any federal, state, municipal court, or other governmental department,
commission, board, bureau, agency, or instrumentality, domestic or foreign,
affecting the Assigned Assets or SIBE.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Section
3.6        Brokers and
Finders.  SIBE has
not incurred any obligation or liability to any party for any brokerage fees,
agent’s commissions, or finder’s fees in connection with the transactions
contemplated hereby.

       

      Section
3.7        Correctness of
Representations.  To the
best of its knowledge, no representation or warranty of SIBE in this Agreement
or in any exhibit or Disclosure Letter attached hereto or furnished to the
Company hereunder contains any untrue statement of fact, or omits to state any
fact necessary in order to make the statements contained therein not
misleading.  True copies of all mortgages, indentures, notes, leases,
agreements, plans, contracts, and other instruments listed on or referred to in
the Disclosure Letter delivered or furnished to the Company pursuant to this
Agreement have been delivered to the Company.

       

      Section
4.        Representations and
Warranties of the Company.

       

      Section
4.1        Organization and
Qualification.  The
Company is a limited liability company duly organized, validly existing, and in
good standing under the laws of the State of _________ and has all limited
liability company power and authority to conduct its business, to own, lease, or
operate its properties in the places where such business is conducted and such
properties are owned, leased, or operated.

       

      Section
4.2        Authority. 
The
Company has full power and authority to enter into this Agreement and to
consummate the transactions contemplated hereby.  The execution,
delivery, and performance of this Agreement by the Company has been duly and
validly authorized and approved by all necessary action on the part of the
Company, and this Agreement is the legal, valid, and binding obligation of the
Company enforceable against the Company in accordance with its terms, except as
enforceability may be limited by applicable equitable principles or by
bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting
creditors’ rights generally, and by the exercise of judicial discretion in
accordance with equitable principles.  Neither the execution and
delivery of this Agreement by the Company nor the consummation by the Company of
the transactions contemplated hereby will: (a) violate the Company’s
Operating Agreement, (b) violate any provisions of law or any order of any
court or any governmental unit to which the Company is subject, or by which its
Assigned Assets are bound, or (c) conflict with, result in a breach of, or
constitute a default under any indenture, mortgage, lease, agreement, or other
instrument to which the Company is a party or by which it or its assets or
properties are bound.

       

      Section
4.3        Capitalization. 
Immediately
prior to the Closing Date, no limited liability company membership interest was
outstanding.  Other than as contemplated by this Agreement, there is
no subscription right, option, warrant, convertible security, or other right
(contingent or other) presently outstanding, for the purchase, acquisition, or
sale of any securities of the Company.  At Closing there will be no
agreements purporting to restrict the transfer of the Company’s limited
liability company membership interests, no voting agreements, voting trusts, or
other arrangements restricting or affecting the voting of the limited liability
company membership interests, and none of the limited liability company
membership interest are currently pledged or held as security by any person or
entity.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Section
4.4        No Assets or
Liabilities.  Immediately
prior to Closing, the Company had no assets, liabilities, or business
operations.  By virtue of this Agreement, at Closing the Company will
hold the Loan and the Loan Documents.

       

      Section
4.5        Litigation. 
There is
no suit, action, proceeding, claim, or investigation pending, or, to the
Company’s knowledge, threatened, against the Company on the Assigned Assets,
business, goodwill, or financial condition of the Company or which would prevent
the Company from consummating the transactions contemplated by this
Agreement.

       

      Section
4.6        Brokers and
Finders.  Neither
the Company nor any affiliate of the Company has incurred any obligation or
liability to any party for any brokerage fees, agent’s commissions, or finder’s
fees in connection with the transactions contemplated by this
Agreement.

       

      Section
4.7        Governmental Approval
and Consents.  No
consent, approval, or authorization of or declaration, filing, or registration
with any governmental or regulatory authority is required in connection with the
execution, delivery, and performance of this Agreement or the consummation of
the transactions contemplated hereby.

       

      Section
4.8        Correctness of
Representations.  No
representation or warranty of the Company in this Agreement or in any exhibit,
certificate, or schedule attached hereto or furnished pursuant hereto contains,
or on the Closing Date will contain, any untrue statement of fact or omits or,
on the Closing Date, will omit, to state any fact necessary in order to make the
statements contained herein or therein not misleading, and all such statements,
representations, warranties, exhibits, and certificates shall be true and
complete on and as of the Closing Date as though made on that date.

       

      Section
5.        Representations and
Warranties of Borrower.

       

      Section
5.1        Organization and
Qualification.  Borrower
is a corporation duly organized, validly existing, and in good standing under
the laws of the State of __________ and has all corporate power and authority to
conduct its business, to own, lease, or operate its properties in the places
where its business is conducted and such properties are owned, leased, or
operated.

       

      Section
5.2        Authority. 
Borrower
has the full power and authority to enter into this Agreement and to consummate
the transactions contemplated hereby.  The execution, delivery, and
performance of this Agreement by Borrower has been duly and validly authorized
and approved by all necessary action on the part of Borrower, and this Agreement
is the legal, valid, and binding obligation of Borrower, enforceable against
Borrower in accordance with its terms, except as enforceability may be limited
by applicable equitable principles or by bankruptcy, insolvency, reorganization,
moratorium, or similar laws affecting creditors’ rights generally, and to the
exercise of judicial discretion in accordance with general equitable
principles.

       

      Section
6.        Indemnification

       

      For the
purposes of this Section 6, “Losses” shall mean any and
all demands, claims, actions or causes of action, assessments, losses, damages,
liabilities, costs, and expenses, including, without limitation, interest,
penalties, reasonable attorneys' and other professional fees and
expenses.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Section
6.1        Agreement of the
Company to Indemnify SIBE.  

       

      Subject
to the terms and conditions of this Section 6, Borrower and the Company shall
indemnify, defend, and hold harmless SIBE, against, from, and in respect of any
and all Losses asserted against, relating to, imposed upon, or incurred by SIBE
by reason of, resulting from, based upon, or arising out of the Loan, the Loan
Documents, and the offer, sale, and issuance of the Debentures.

       

      Section
7.        General
Provisions

       

      Section
7.1        Notice.  All
notices, requests, demands, and other communications hereunder shall be in
writing and shall be delivered by hand or mailed by first class registered or
certified mail, return receipt requested, first class postage prepaid, or by
simultaneous telefax, as follows:

      

      
        
          
            
              	 	
                      (a)

                    	
                      If
      to the Company:

                    	
                      SIBE
      Debt Resolution, LLC

                    
	 	 
      	 
      	 
      
	 	 
      	 
      	
                      Attention:

                    
	 	 
      	 
      	 
      
	 	
                      (b)

                    	
                      If
      to SIBE:

                    	
                      Sibling
      Entertainment Group Holdings, Inc.

                    
	 	 
      	 
      	
                      333
      Hudson Street

                    
	 	 
      	 
      	
                      Suite
      207

                    
	 	 
      	 
      	
                      New
      York, NY 10013

                    
	 	 
      	 
      	
                      Attention:  Chief
      Executive Officer

                    
	 	 
      	 
      	 
      
	 	
                      (c)

                    	
                      If
      to Borrower:

                    	
                      Sibling
      Theatricals, Inc.

                    
	 	 
      	 
      	 
      
	 	 
      	 
      	
                      Attention:  _____________

                    
	 	 
      	 
      	
                      Telephone:
      (___) ___-____

                    
	 	 
      	 
      	
                      Facsimile:  (___)
      ___-____

                    

            

          

        

      

       

      Any party
may change the address to which notices are to be sent to it by giving written
notice of such change of address to the other parties in the manner above
provided for giving notice.  If delivered personally, the date on which a
notice, request, instruction or document is delivered shall be the date on which
such delivery is made, and if delivered by mail, the date on which such notice,
request, instruction, or document is received shall be the date of
delivery.

       

      Section
7.2        Assignment; Binding
Effect.   This
Agreement shall be binding upon the parties hereto and their respective
successors, permitted assigns and permitted transferees.  SIBE may not
assign its rights or delegate its obligations hereunder without the Company’s
consent, which shall not be unreasonably withheld.

       

      Section
7.3        Headings.  The
Section, subsection, and other headings in this Agreement are inserted solely as
a matter of convenience and for reference, and are not a part of this
Agreement.

       

      Section
7.4        Counterparts.  
This
Agreement may be executed in one or more counterparts, all of which shall be
considered one and the same agreement and shall become effective when one
counterpart has been signed by each party and delivered to the other party
hereto.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Section
7.5        Governing
Law.  This
Agreement and the rights of the parties hereunder shall be governed by and
construed in accordance with the laws of the State of New York, without regard
to its conflicts of laws rules.  The parties agree that any
appropriate state court or Federal court sitting in Fulton County, Georgia
(collectively, the “Permitted
Courts”), shall have exclusive jurisdiction of any case or controversy
arising under or in connection with this Agreement and shall be a proper forum
in which to adjudicate such case or controversy, and each Party irrevocably:
(a) consents to the jurisdiction of the Permitted Courts in such actions,
(b) agrees not to plead or claim that such litigation brought in the
Permitted Courts has been brought in an inconvenient forum, and (c) waives
the right to object, with respect to such suit, action, or proceeding, that such
court does not have jurisdiction over such party.  In any suit,
arbitration, mediation, or other proceeding to enforce any right or remedy under
this Agreement or to interpret any provision of this Agreement, the prevailing
party will be entitled to recover its costs, including reasonable attorneys’
fees, and all costs and fees incurred on appeal or in a bankruptcy or similar
action.

       

      Section
7.6        Partial
Invalidity.   Wherever
possible, each provision hereof shall be interpreted in such manner as to be
effective and valid under applicable law, but in case any one or more of the
provisions contained herein shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality, or
unenforceability shall not affect any other provisions of this Agreement, and
this Agreement shall be construed as if such invalid, illegal, or unenforceable
provision or provisions had never been contained herein unless the deletion of
such provision or provisions would result in such a material change as to cause
completion of the transactions contemplated hereby to be
unreasonable.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Section
7.7        Survival. 
The
covenants, representations, warranties, and agreements contained herein shall
survive the Closing of the transactions contemplated herein, for the length of
time that the Company or SIBE, as the case may be, may assert an indemnification
for a breach or violation of such covenant, representation, warranty, or
agreement pursuant to Section hereof.

       

      IN
WITNESS WHEREOF, SIBE and the Company have caused this Agreement to be executed
and delivered as of the date first above written.

       

      
        
          
            
              
                
                  	 
      	
                          Sibling
      Entertainment Group Holdings, Inc.

                        
	 
      	 
      
	 
      	
                          By:

                        	/s/
      Mitchell Maxwell
	 
      	 
      	
                          Mitchell
      Maxwell, Chief Executive Officer

                        
	 
      	 
      	 
      
	 
      	
                          Sibling
      Theatricals, Inc.

                        
	 
      	 
      
	 
      	
                          By:

                        	/s/
      Mitchell Maxwell
	 
      	 
      	
                          Mitchell
      Maxwell, Chief Executive Officer

                        
	 
      	 
      	 
      
	 
      	
                          SIBE
      Debt Resolution, LLC

                        
	 
      	 
      
	 
      	
                          By:

                        	/s/
      Mitchell Maxwell
	 
      	 
      	 
      
	 
      	
                          Name:

                        	Mitchell
      Maxwell  
	 
      	 
      	 
      
	 
      	
                          Title:

                        	Managing PartnerExhibit 10.2

     

    CONVERSION
AGREEMENT

     

    November
12, 2010

     

    Sibling
Entertainment Group Holdings, Inc.

    333
Hudson Street

    Suite
207

    New York,
NY 10013

    Attention:
Mitchell Maxwell

     

    Re:           SONA
13% Series AA Secured Convertible Debentures, AA-1 Warrants, and AA-2
Warrants

     

    Gentlemen:

     

    The
undersigned (the “Holder”), is a party to a
Subscription Agreement dated ____________________ (the “Purchase Agreement”) with
Sibling Entertainment Group Holdings, Inc. formerly known as Sona Development
Corp. (“SIBE”) pursuant
to which Holder purchased from SIBE, _____________ Units, at price of $10,000
per Unit, with each unit consisting of (a) a 13% interest bearing secured
promissory note in the principal amount of $10,000 (the “Debenture”), (b) a five
year warrant to purchase 10,000 shares of SIBE common stock at an exercise price
of $1.00 per share (the “AA-1
Warrant”), and (c) a five year warrant to purchase 10,000 shares of
SIBE common stock at an exercise price of $2.50 per share (the “AA-2 Warrant”, and together
with the Purchase Agreement, the Debenture, and the AA-1 Warrant, are sometimes
collectively referred to as the “Debenture Transaction
Documents”).

     

    1.            You
have informed me that:

     

    (a)        The
proceeds from the sale of the debentures were loaned to Sibling Theatricals,
Inc. (the “Theatricals
Loan”).  The collectability of the Theatricals loan is in
doubt.

     

    (b)       SIBE
intends to acquire Newco4education, LLC (the “Acquisition”).  SIBE
believes that Newco4education, LLC has the management expertise, know-how, and
intellectual property that would permit SIBE to manage and operate charter
schools.

     

    (c)        The
Acquisition is conditioned, among other things, upon:

     

    (i) the
conversion of all outstanding Debentures, AA-1 Warrants, and AA-2 Warrants into
approximately 1,052,632 shares
of Series B Common Stock, having the terms set forth on Exhibit A
hereto, and

     

    (ii) the
transfer and conveyance of all of SIBE’s interest in the Theatricals Loan to a newly organized
limited liability company (the “Company”), pursuant to a Loan
Assignment Agreement in substantially the form of Exhibit B
hereto for the benefit of the holders of the Debentures and the distribution of
the membership interests in the Compnay pro rata to the holders of the
Debentures; and

     

    (iii) the
execution and delivery by each of the holders of the Debentures of this
Agreement.

     

    (d)       The
Series B Common Stock issued to the holders of all of the Debentures will
convert into 10% of the issued and outstanding common stock on the date of
conversion.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.           Holder
hereby irrevocably converts all Debentures, AA-1 Warrants, and AA-2 Warrants
registered in the name of Holder into __________________ shares of SIBE’s Series
B Common Stock and a ______ % limited liability company membership interest of
the Company (collectively, the “Conversion Shares”),
effective on the day before the closing of the Acquisition, currently
anticipated to be November 30, 2010 (the “Anticipated Closing
Date”).  If the closing of the Acquisition occurs after the
Anticipated Closing Date, no additional interest shall accrue under the
Debentures and no change shall be made in the number of Conversion Shares issued
to Holder.

     

    3.           Holder
hereby irrevocably accepts delivery of the Conversion Shares in full payment,
accord, and satisfaction of the Debentures, the AA-1 Warrants, the AA-2
Warrants, and all obligations of SIBE due Holder under the Debenture Transaction
Documents, and any other document or instrument held by
Holder.  Holder acknowledges and agrees that upon delivery of the
Conversion Shares: (i) SIBE will no longer be indebted to Holder,
(ii) any security interest in the assets of SIBE related to the Debentures
is released, extinguished, and terminated, (iii) SIBE will have no further
obligations to Holder under the Debentures, the AA-1 Warrants, and the AA-2
Warrants, and (iv) that each of the Debenture Transaction Documents will be
terminated and of no further force and effect.

     

    4.           Effective
upon delivery of the Conversion Shares to Holder, Holder releases, acquits, and
forever discharges SIBE, and its past, present, and future officers, directors,
partners, agents, employees, attorneys, heirs, successors, assigns, parents,
subsidiaries, affiliates, and representatives (collectively, the “Releasees”) of and from any
and all actions, causes of action, claims, suits, damages, judgments, and
demands whatsoever in law and/or equity, known or unknown, accrued or unaccrued,
suspected or unsuspected, fixed or contingent, liquidated or unliquidated,
matured or unmatured, developed or undeveloped, discoverable or undiscoverable,
which Holder had, now has, or may later have or claim to have, against the
Releasees, or any of them, involving or arising out of any act or failure to
act, or any transaction, event, circumstance, occurrence, or state of facts,
which existed, occurred, or transpired, or which is alleged to have existed,
occurred, or transpired, at any time from the beginning of time through and
including the date Holder receives the Conversion Shares, including without
limitation, all matters arising out of or related to the offer, sale, and
issuance of the Units, the Debenture Transaction Documents, the Theatricals
Loan, this Agreement, the Acquisition, and all other matters whatsoever which
have or allegedly have occurred or transpired from the beginning of time through
and including the date Holder receives the Conversion Shares, excluding only the
rights of Holder to receive the Conversion Shares as provided pursuant to this
Agreement.

     

    5.           From
the date of this Agreement until December 31, 2010, and forever after the
delivery of the Conversion Shares, Holder covenants and agrees not to sue the
Releasees or any of them with respect to any matter within the scope of the
release in this Agreement.  Holder agrees to indemnify each of the
Releasees for all costs or expenses, including attorneys’ fees, incurred by such
Releasee in the defense of such suit.

     

    6.           Holder
agrees to execute and deliver such other documents and instruments to evidence
the termination of the obligations of SIBE under the Debentures and the
Debenture Transaction Documents, without any additional consideration therefor,
as SIBE may reasonably request.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    7.           The
Conversion Shares being acquired by Holder will be acquired for Holder's own
account without the participation of any other person, with the intent of
holding the Conversion Shares for investment and without the intent of
participating, directly or indirectly, in a distribution of the Conversion
Shares and not with a view to, or for resale in connection with, any
distribution of the Conversion Shares, nor is Holder aware of the existence of
any distribution of the Conversion Shares.  Holder has such knowledge
and experience in financial tax and business matters as to be capable of
evaluating the merits and risks of, and bearing the economic risks entailed by,
an investment in SIBE and the Company and of protecting Holder’s interests in
connection with this transaction.  Holder recognizes and acknowledges
that its investment in SIBE and the Company involves a high degree of
risk.  Holder is able to bear the economic risks of the investment in
the Conversion Shares, including the risk of a complete loss of Holder's
investment therein.  Holder understands and agrees that the Conversion
Shares will be issued and sold to Holder without registration under any state
law relating to the registration of securities for sale, and will be issued and
sold in reliance on the exemptions from registration under the 1933 Act,
provided by Sections 3(b) and/or 4(2) thereof and the rules and regulations
promulgated thereunder.  The Conversion Shares cannot be offered for
sale, sold or transferred by Holder other than pursuant to: (A) an effective
registration under the 1933 Act or in a transaction otherwise in compliance with
the 1933 Act; and (B) evidence satisfactory to the Company of compliance with
the applicable securities laws of other jurisdictions.  The Company
shall be entitled to rely upon an opinion of counsel satisfactory to it with
respect to Holder’s compliance with such laws.  Holder has had the
opportunity to ask questions of and receive answers from the Company and any
person acting on its behalf and to obtain all material information reasonably
available with respect to SIBE and the Company and their respective
affairs.  Holder is an “accredited investor” as such term is defined
in Rule 501 of Regulation D, promulgated under the Securities Act of
1933

     

    8.           Holder
has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement with Holder’s own legal counsel and investment
and tax advisors.  Holder is relying solely on such counsel and
advisors and not on any statements or representations of SIBE or the Company or
any of its or their representatives or agents, for legal, tax, or investment
advice with respect to this Agreement, the transactions contemplated by this
Agreement or the securities laws of any jurisdiction.  Holder
acknowledges that Krevolin & Horst, LLC are attorneys for Newco4education,
LLC and not SIBE, the Company, or Holder..

     

    9.           Holder
has full power and authority to execute, deliver, and perform this Agreement
without the consent or approval of any other person that has not been obtained
on or prior to the date hereof.  This Agreement is the legal, binding,
and valid obligation of Holder, enforceable against Holder in accordance with
its terms.

     

    10.           This
Agreement and the rights of SIBE and Holder shall be governed by and construed
in accordance with the laws of the State of Texas, without regard to its
conflicts of laws rules.  The parties agree that any appropriate state
court sitting in Fulton County, Georgia or any Federal Court sitting in the
Northern District of Georgia (Atlanta Division) (collectively, the “Permitted Courts”), shall
have exclusive jurisdiction of any case or controversy arising under or in
connection with this Agreement and shall be a proper forum in which to
adjudicate such case or controversy, and each party irrevocably:
(a) consents to the jurisdiction of the Permitted Courts in such actions,
(b) agrees not to plead or claim that such litigation brought in the
Permitted Courts has been brought in an inconvenient forum, and (c) waives
the right to object, with respect to such suit, action, or proceeding, that such
court does not have jurisdiction over such party.  In any suit,
arbitration, mediation, or other proceeding to enforce any right or remedy under
this Agreement or to interpret any provision of this Agreement, the prevailing
party will be entitled to recover its costs, including reasonable attorneys’
fees, and all costs and fees incurred on appeal or in a bankruptcy or similar
action.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    
      
        	
                Holder
      Name

              	 _____________________________________________________________________
      
	
                Holder
      Address:

              	 _____________________________________________________________________
      
	 
      	 _____________________________________________________________________
	 
      	 _____________________________________________________________________
	
                Holder
      Telephone:

              	 _____________________________________________________________________
	
                Holder
      Email Address:

              	 
      

      

    

     

    IN
WITNESS WHEROF, the undersigned hereby executes and delivers this Agreement as
of this __ day of November, 2010.

    

    
      
        
          
            
              
                
                  
                    
                      	 
      	
                              Holder
      Signature - Individual

                            
	 
      	 
      
	 
      	 
      
	 	 
	 
      	
                              Holder
      Signature - Entity

                            
	 
      	 
      
	 
      	
                              By:

                            	 
      
	 
      	 
      
	 
      	
                              Name:

                            	 
      
	 
      	 
      
	 
      	
                              Title:

                            	 
      
	
                              ACCEPTED
      this __ day of November, 2010.

                            	 
      
	 
      	 
      
	
                              Sibling
      Entertainment Group Holdings, Inc.

                            	 
      
	 
      	 
      
	
                              By:

                            	 	 
      	 
      
	 
      	
                              Mitchell
      Maxwell, Chief Executive Officer

                            	 
      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
A

    TO

    CONVERSION
AGREEMENT

     

    Certificate
of Designation of Series Common Stock

    

    Omitted
in Exhibit 10.2

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
B

    TO

    CONVERSION
AGREEMENT

     

    Loan
Assignment Agreement

    

    Omitted
in Exhibit 10.2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00183-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00183-of-00352.parquet"}]]