Document:

NON
      NEGOTIABLE PROMISSORY NOTE

    

    June____ ,
      2006

    

    
      	Seattle,
              Washington	
               $100,000

            

    

     

    FOR
      VALUE RECEIVED,
      the
      undersigned, INFINIUM
      LABS, INC., a
      Delaware Corporation,
      (the
      "Company"),
      promises to pay RONALD
      WESTMAN
      the
“Holder”)
      , the
      principal sum of One
      Hundred Thousand (U.S.) Dollars and 00/100 ($100,000.00),
      together with interest thereon at the rate of eight percent (8%) per annum
      and
      will be payable pursuant to the following terms: 

    

    1.  Amount
      of Note.
      The
      face amount of this Non Negotiable Promissory Note (this “Note”)
      shall
      be delivered to Infinium in three payments, sent by wire transfer, with the
      first traunch of $20,000 due upon mutual execution of the Note, the second
      traunch of $35,000 due twenty-one (21) days after mutual execution of the Note,
      and the third traunch of $45,000 due forty-two (42) days after mutual execution
      of the Note. The Note shall be repaid to the Holder within two months from
      the
      receipt of the third traunch hereof. Interest shall be paid on the maturity
      date. 

    

    2. Additional
      Consideration. As
      additional consideration, the Company has agreed to re-price certain
      pre-existing warrants to a number of separate parties (see Exhibit A-1 and
      A-2)
      and issue new warrants to be issued within ten (10) days of mutual execution
      of
      this Agreement in the form attached at Exhibit 2 to the parties and in the
      amounts listed at Exhibit 3 to this Agreement.

    

    3. Collateral.
      Infinium
      will grant Holder three separate certificates to collateralize the Note of
      2,000,000 shares, 3,500,000 shares, and 4,500,000 shares of common stock (the
      “Collateral”). Each certificate will be requested prior to the applicable
      traunch. All collateral will be held in escrow with John Chapman, Esquire
      (pending execution of an escrow agreement, acceptable to the Company, with
      such
      attorney, costs to be borne by Holder). Collateral shall be held in escrow
      until
      maturity of the Note at which point, if the Note is paid in full, it will be
      returned to the Company or escrow agent shall be permitted to release the
      Collateral to the Holder in payment of the Note. 

    

    4. Waiver
      and Consent.
      To the
      fullest extent permitted by law and except as otherwise provided herein, the
      Company waives demand, presentment, protest, notice of dishonor, suit against
      or
      joinder of any other person, and all other requirements necessary to charge
      or
      hold the Company liable with respect to this Note.

    

    5. Cancellation
      of Note.
      Upon
      the repayment by the Company of all of its obligations hereunder to the Holder,
      including, without limitation, the face amount of this Note, plus accrued but
      unpaid interest, the indebtedness evidenced hereby shall be deemed canceled
      and
      paid in full. Except as otherwise required by law or by the provisions of this
      Note, payments received by the Holder hereunder shall be applied first against
      expenses and indemnities, next against interest accrued on this Note, and next
      in reduction of the outstanding principal balance of this Note.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.
       Severability.
      If any
      provision of this Note is, for any reason, invalid or unenforceable, the
      remaining provisions of this Note will nevertheless be valid and enforceable
      and
      will remain in full force and effect. Any provision of this Note that is held
      invalid or unenforceable by a court of competent jurisdiction will be deemed
      modified to the extent necessary to make it valid and enforceable and as so
      modified will remain in full force and effect.

    

    7.
       Amendment
      and Waiver.
      This
      Note is non negotiable and may be amended, or any provision of this Note may
      be
      waived, provided that any such amendment or waiver will be binding on a party
      hereto only if such amendment or waiver is set forth in a writing executed
      by
      the parties hereto. The waiver by any such party hereto of a breach of any
      provision of this Note shall not operate or be construed as a waiver of any
      other breach.

    

    8.
       Successors.
      Except
      as otherwise provided herein, this Note shall bind and inure to the benefit
      of
      and be enforceable by the parties hereto and their permitted successors and
      assigns.

    

    9.  Assignment.
      This
      Note shall not be directly or indirectly assignable or delegable by the Company.
      

    

    10.
       No
      Strict Construction.
      The
      language used in this Note will be deemed to be the language chosen by the
      parties hereto to express their mutual intent, and no rule of strict
      construction will be applied against any party.

    

    11. Further
      Assurances.
      Each
      party hereto will execute all documents and take such other actions as the
      other
      party may reasonably request in order to consummate the transactions provided
      for herein and to accomplish the purposes of this Note.

    

    12. Notices,
      Consents, etc.  Any
      notices, consents, waivers or other communications required or permitted to
      be
      given under the terms hereof must be in writing and will be deemed to have
      been
      delivered: (i) upon receipt, when delivered personally; (ii) upon receipt,
      when
      sent by facsimile (provided confirmation of transmission is mechanically or
      electronically generated and kept on file by the sending party); or (iii) one
      (1) trading day after deposit with a nationally recognized overnight delivery
      service, in each case properly addressed to the party to receive the same.
      The
      addresses and facsimile numbers for such communications shall be:

     

    
      
        	
                If
                  to the Company:

              	 	
                Infinium
                  Labs, Inc.

              
	 	 	
                800
                  Fifth Avenue, Suite 4100

              
	 	 	
                Seattle,
                  WA 98104

              
	 	 	 
	 	 	
                Attention:
                  General Counsel

              
	 	 	
                Telephone:
                  (206) 447-1444

              
	 	 	
                Facsimile: (206)
                  774-1289

              

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        	 	 	 
	
                With
                  Copies to:

              	 	
                Sichenzia
                  Ross Friedman Ference LLP

              
	 	 	
                1065
                  Avenue of the Americas 

              
	 	 	
                New
                  York, NY 10018

              
	 	 	
                Attention:
                  Darrin M. Ocasio, Esq.

              
	 	 	
                Telephone:
                  (212) 930-9700

              
	 	 	
                Facsimile:
                  (212) 930-9725

              
	 	 	 
	
                If
                  to Holder:

              	 	
                Ronald
                  Westman

              
	 	 	
                2033
                  Main Street, Suite 403

              
	 	 	
                Sarasota,
                  FL 34237

              
	 	 	 
	 	 	
                Telephone:
                  

              
	 	 	
                Facsimile:
                  

              

      

    

    

    or
      at
      such other address and/or facsimile number and/or to the attention of such
      other
      person as the recipient party has specified by written notice given to each
      other party three (3) trading days prior to the effectiveness of such change.
      Written confirmation of receipt (A) given by the recipient of such notice,
      consent, waiver or other communication, (B) mechanically or electronically
      generated by the sender's facsimile machine containing the time, date, recipient
      facsimile number and an image of the first page of such transmission or (C)
      provided by a nationally recognized overnight delivery service, shall be
      rebuttable evidence of personal service, receipt by facsimile or receipt from
      a
      nationally recognized overnight delivery service in accordance with clause
      (i),
      (ii) or (iii) above, respectively.

    

    13.
       Remedies,
      Other Obligations, Breaches and Injunctive Relief.
      The
      Holder’s remedies provided in this Note shall be cumulative and in addition to
      all other remedies available to the Holder under this Note, at law or in equity
      (including a decree of specific performance and/or other injunctive relief),
      no
      remedy of the Holder contained herein shall be deemed a waiver of compliance
      with the provisions giving rise to such remedy and nothing herein shall limit
      the Holder’s right to pursue actual damages for any failure by the Company to
      comply with the terms of this Note. Every
      right and remedy of the Holder under any document executed in connection with
      this transaction, including but not limited to this Note or under applicable
      law
      may be exercised from time to time and as often as may be deemed expedient
      by
      the Holder.
      The
      Company acknowledges that a breach by it of its obligations hereunder will
      cause
      irreparable harm to the Holder and that the remedy at law for any such breach
      may be inadequate. The Company therefore agrees that, in the event of any such
      breach or threatened breach, the Holder shall be entitled, in addition to all
      other available remedies, to an injunction restraining any breach, and specific
      performance without the necessity of showing economic loss and without any
      bond
      or other security being required.

    

    
      
        
        

      

      
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    14. Governing
      Law; Jurisdiction.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of this Agreement shall be governed by the internal laws of the State of
      Washington, without giving effect to any choice of law or conflict of law
      provision or rule (whether of the State of Washington or any other
      jurisdictions) that would cause the application of the laws of any jurisdictions
      other than the State of Washington. Each party hereby irrevocably submits to
      the
      exclusive jurisdiction of the Superior Courts of the State of Washington,
      sitting in the city of Seattle and the United States District Court for the
      Western District of Washington sitting in Seattle, Washington, for the
      adjudication of any dispute hereunder or in connection herewith or therewith,
      or
      with any transaction contemplated hereby or discussed herein, and hereby
      irrevocably waives, and agrees not to assert in any suit, action or proceeding,
      any claim that it is not personally subject to the jurisdiction of any such
      court, that such suit, action or proceeding is brought in an inconvenient forum
      or that the venue of such suit, action or proceeding is improper. Each party
      hereby irrevocably waives personal service of process and consents to process
      being served in any such suit, action or proceeding by mailing a copy thereof
      to
      such party at the address for such notices to it under this Agreement and agrees
      that such service shall constitute good and sufficient service of process and
      notice thereof. Nothing contained herein shall be deemed to limit in any way
      any
      right to serve process in any manner permitted by law. 

    

    15. No
      Inconsistent Agreements.
      None of
      the parties hereto will hereafter enter into any agreement which is inconsistent
      with the rights granted to the parties in this Note.

    

    16. Third
      Parties.
      Nothing
      herein expressed or implied is intended or shall be construed to confer upon
      or
      give to any person or entity, other than the parties to this Note and their
      respective permitted successor and assigns, any rights or remedies under or
      by
      reason of this Note.

    

    17. Waiver
      of Jury Trial.
      AS A MATERIAL INDUCEMENT FOR THE HOLDER TO LOAN TO THE COMPANY THE MONIES
      HEREUNDER, THE COMPANY HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY LEGAL
      PROCEEDING RELATED IN ANY WAY TO THIS AGREEMENT AND/OR ANY AND ALL OF THE OTHER
      DOCUMENTS ASSOCIATED WITH THIS TRANSACTION.

    

    18. Entire
      Agreement.  This
      Note (including the recitals hereto) sets forth the entire understanding of
      the
      parties with respect to the subject matter hereof, and shall not be modified
      or
      affected by any offer, proposal, statement or representation, oral or written,
      made by or for any party in connection with the negotiation of the terms hereof,
      and may be modified only by instruments signed by all of the parties
      hereto.

    

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF,
      this
      Note is executed by the undersigned as of the date hereof.

    
      	 	 	 
	 	
              RONALD
                WESTMAN

            
	 
 	 
 	 
 
	 	By:  	/s/ Ronald
              Westman
	 	
              

              Name: Ronald
                Westman

            
	 	 

    

    
      	 	 	 
	 	
              INFINIUM
                LABS, INC.

            
	 
 	 
 	 
 
	 	By:  	/s/ Greg
              Koler
	 	
              

              Name: Greg
                Koler

            
	 	
              Title: CEO

            

    

     

    
      
        
        

      

      
        5FORM
      OF WARRANT

     

    THIS
      WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE BEEN ACQUIRED FOR INVESTMENT
      AND
      NOT FOR DISTRIBUTION, AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED NEITHER THE WARRANT NOR THE SHARES MAY BE SOLD, PLEDGED, OR
      OTHERWISE TRANSFERRED WITHOUT AN OPINION OF COUNSEL REASONABLY SATISFACTORY
      TO
      THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED AND PURSUANT
      TO RULE 144. THIS WARRANT MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER
      AGENT AS A CONDITION PRECEDENT TO THE SALE, PLEDGE OR OTHER TRANSFER OF ANY
      INTEREST IN THIS WARRANT OR THE SHARES ISSUABLE HEREUNDER.

    

    
      	
              June
                30, 2006

            	
              Warrant
                No.

            

    

     

    INFINIUM
      LABS, INC.

    STOCK
      PURCHASE WARRANT

    

    _____________ 
      Shares

    

    Infinium
      Labs, Inc. (the “Company”)
      does
      hereby certify and agree that upon receipt of an agreed upon amount with Ronald
      Westman, the Holder, or its permitted successors and assigns, hereby is entitled
      to purchase from the Company _______Thousand
      (_________)
      duly
      authorized, validly issued, fully paid and non-assessable shares of common
      stock, $0.001 par value per share (the “Stock”),
      of the
      Company upon the terms and subject to the provisions of this
      Warrant.

    

    The
      term
“Holder”
      shall
      initially refer to_________,
      which
      is the initial holder of this Warrant, and shall further refer to any subsequent
      permitted holder of this Warrant from time to time. This Warrant is issued,
      for
      good and valuable consideration, to the Holder, or its permitted successors
      and
      assigns, by the Company.

    

    1. Price
      and Exercise of Warrant.

    

    a. Term
      of Warrant.
      This
      Warrant shall be exercisable for a period of five (5) years after the date
      hereof (the expiration date for this Warrant is hereinafter referred to as
      the
“Expiration
      Date”);
      provided, however, that this Warrant will cease to be exercisable prior to
      the
      Expiration Date on a date that the Company consummates a transaction described
      in Section 5(a) hereof, the terms of which provide for expiration of this
      Warrant upon such consummation, but only if (i) notice of such transaction
      was
      duly given to the Holder pursuant to Section 8 hereof and (ii) in such
      transaction the equity holders of the Company immediately prior to such
      transaction own less than fifty percent (50%) of the outstanding equity
      securities of the surviving entity immediately following such
      transaction.

    

    
      
        
        

      

      
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    b. Exercise
      Price.
      The
      price per share at which the shares of Stock are issuable upon exercise of
      this
      Warrant (the “Warrant
      Shares”)
      shall
      be $0.015 per share (the “Warrant
      Price”).

    

    c. Exercise
      of Warrant.

    

    i. This
      Warrant may be exercised, in whole or in part, upon surrender to the Company
      at
      its principal offices of the certificate or certificates evidencing this Warrant
      to be exercised, together with the form of election to exercise attached hereto
      as Exhibit A duly completed and executed, and upon payment to the Company of
      the
      Warrant Price for the number of Warrant Shares in respect of which this Warrant
      is then being exercised.

    

    ii. Payment
      of the aggregate Warrant Price may be made (1) in cash or by cashier’s
      or bank
      check or (2) if Stock is at the time publicly traded, by making a Cashless
      Exercise (as defined herein). Upon a “Cashless
      Exercise”
      the
      Holder shall receive shares of Stock on a net basis such that, without the
      payment of any funds, the Holder shall surrender this Warrant in exchange for
      the number of shares of Stock equal to the product of (a) the number of shares
      of Stock as to which this Warrant is being exercised, multiplied by (b) a
      fraction, the numerator of which is the aggregate fair market value price of
      such Stock less the aggregate then applicable exercise price, and the
      denominator of which is such aggregate fair market value price.

    

    iii. Subject
      to Section 2 and 3(a) hereof, upon surrender of this Warrant, and the duly
      completed and executed form of election to exercise, and payment of the Warrant
      Price, the Company shall cause to be issued and delivered to the Holder or
      such
      other person as the Holder may designate in writing a certificate or
      certificates for the number of full shares of Stock so purchased upon the
      exercise of this Warrant. Such certificate or certificates shall be deemed
      to
      have been issued and any person so designated to be named therein shall be
      deemed to have become a holder of record of such shares of Stock as of the
      date
      of the surrender of this Warrant, and the duly completed and executed form
      of
      election to exercise, and payment of the Warrant Price; provided, that if the
      date of surrender of this Warrant and payment of the Warrant Price is not a
      business day, the certificates for the shares of Stock shall be issued as of
      the
      next business day (whether before or after the Expiration Date), and, until
      such
      date, the Company shall be under no duty to cause to be delivered any
      certificate for such shares of Stock or for shares of such other class of stock.
      If this Warrant is exercised in part, a new warrant certificate of the same
      tenor and for the number of Warrant Shares not exercised shall be executed
      by
      the Company.

    

    d. Fractional
      Interests.
      The
      Company shall not be required to issue fractions of shares of Stock on the
      exercise of this Warrant. If any fraction of a share of Stock would be issuable
      upon the exercise of this Warrant (or any portion thereof), the Company shall
      purchase such fraction for an amount in cash equal to the same fraction of
      the
      last reported sale price of the Stock on NASDAQ or any other national securities
      exchange or market on which the Stock is then listed or traded or, if not so
      listed or traded, at the fair market value per share of the Stock as determined
      by the Company.

    

    
      
        
        

      

      
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    2. Exchange
      and Transfer of Warrant.

    

    a. This
      Warrant may be transferred, in whole or in part, without restriction, subject
      to
      receipt of an opinion from any law firm satisfactory to the Company that such
      transfer is in compliance with applicable securities laws. A transfer may be
      registered with the Company by submission to it of this Warrant, together with
      the annexed Assignment Form attached hereto as Exhibit B duly completed and
      executed. After the Company’s
      receipt
      of this Warrant and the Assignment Form so completed and executed, the Company
      will issue and deliver to the transferee a new warrant (representing the portion
      of this Warrant so transferred) at the same Exercise Price per share and
      otherwise having the same terms and provisions as this Warrant, which the
      Company will register in the new holder’s
      name.
      In the event of a partial transfer of this Warrant, the Company shall
      concurrently issue and deliver to the transferring holder a new warrant that
      entitles the transferring holder to purchase the balance of this Warrant not
      so
      transferred and that otherwise is upon the same terms and conditions as this
      Warrant. Upon the due delivery of this Warrant for transfer, the transferee
      holder shall be deemed for all purposes to have become the holder of the new
      warrant issued the portion of this Warrant so transferred, effective immediately
      prior to the close of business on the date of such delivery, irrespective of
      the
      date of actual delivery of the new warrant representing the portion of this
      Warrant so transferred.

    

    b. In
      the
      event of the loss, theft or destruction of this Warrant, the Company shall
      execute and deliver an identical new warrant to the Holder in substitution
      therefor upon the Company’s
      receipt
      of (i) evidence reasonably satisfactory to the Company of such event and (ii)
      if
      requested by the Company, an indemnity agreement reasonably satisfactory in
      form
      and substance to the Company. In the event of the mutilation of or other damage
      to this Warrant, the Company shall execute and deliver an identical new warrant
      to the Holder in substitution therefor upon the Company’s
      receipt
      of the mutilated or damaged warrant.

    

    c. The
      Company shall pay all costs and expenses incurred in connection with the
      exercise, exchange, transfer or replacement of this Warrant, including, without
      limitation, the costs of preparation, execution and delivery of a new warrant
      and of stock certificates representing all Warrant Shares; provided, that the
      Holder shall pay all stamp and other transfer taxes payable in connection with
      the transfer or replacement of this Warrant.

    

    3. Certain
      Covenants.

    

    a. Subject
      to shareholder approval to increase in its authorized shares of common stock,
      currently 600,000,000, the Company shall at all times thereafter reserve for
      issuance and keep available out of its authorized and unissued shares of Stock,
      solely for the purpose of providing for the exercise of this Warrant, such
      number of shares of Stock as shall from time to time be sufficient
      therefor.

    

    
      
        
        

      

      
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    b. The
      Company will not, by amendment of its Certificate of Incorporation or otherwise,
      avoid or seek to avoid the observance or performance of any of the terms of
      this
      Warrant. Without limiting the foregoing, the Company (i) will not increase
      the
      par value of any shares of capital stock receivable upon the exercise of this
      Warrant above the amount payable therefor upon such exercise and (ii) will
      take
      all such action as may be necessary or appropriate in order that the Company
      may
      validly and legally issue fully paid and non-assessable shares of capital stock
      upon the exercise of this Warrant.

    

    4. Adjustment
      of Warrant Price and Number of Warrant Shares.
      The
      Warrant Price in effect at any time and the number and kind of securities
      purchasable upon the exercise of this Warrant shall be subject to adjustment
      from time to time upon the occurrence of certain events, as hereinafter
      provided.

    

    a. In
      case
      the Company shall hereafter (i) pay a dividend or make a distribution on its
      Stock in shares of its Stock or any other distribution of property other than
      cash, (ii) subdivide its outstanding Stock, (iii) combine its outstanding Stock
      into a smaller number of shares, or (iv) issue any shares by reclassification
      of
      its Stock (including any such reclassification in connection with a
      consolidation or merger in which the Company is the continuing corporation),
      the
      Warrant Price in effect at the time of the record date for such dividend or
      distribution or the effective date of such subdivision, combination or
      reclassification shall be proportionately adjusted so that the Holder, upon
      exercise of this Warrant after such date, shall be entitled to receive the
      aggregate number and kind of shares of Stock which, if this Warrant had been
      exercised immediately prior to such record date, it would have owned upon such
      exercise and been entitled to receive upon such dividend, distribution,
      subdivision, combination or reclassification.

    

    b. Whenever
      the Warrant Price payable upon exercise of this Warrant is adjusted pursuant
      to
      paragraph (a) above, the number of Warrant Shares purchasable upon exercise
      of
      this Warrant shall simultaneously be adjusted by multiplying the number of
      Warrant Shares initially issuable upon exercise of this Warrant by the Warrant
      Price in effect as of the date of this Warrant and dividing the product so
      obtained by the Warrant Price, as adjusted.

    

    c. All
      calculations under this Section 4 shall be made to the nearest tenth of a cent
      or to the nearest one-thousandth of a share, as the case may be.

    

    d. Whenever
      the Warrant Price is adjusted, as herein provided, the Company shall promptly
      cause a notice setting forth the adjusted Warrant Price and adjusted number
      of
      shares issuable upon exercise of this Warrant to be mailed to the Holder. The
      certificate setting forth the computation shall be signed by the Chief Financial
      Officer of the Company.

    

    
      
        
        

      

      
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    e. In
      the
      event that at any time, as a result of any adjustment made pursuant to paragraph
      (a) above, the holder of this Warrant thereafter shall become entitled to
      receive any shares of the Company, other than Stock, thereafter the number
      of
      such other shares so receivable upon exercise of this Warrant shall be subject
      to adjustment from time to time in a manner and on terms as nearly equivalent
      as
      practicable to the provisions with respect to the Stock contained in paragraph
      (a) above.

    

    5. Consolidation,
      Merger or Sale of Assets.

    

    a. In
      the
      event of (i) any consolidation of the Company with, or merger of the Company
      with or into, any other entity (other than a merger which does not result in
      any
      reclassification, conversion, exchange or cancellation of outstanding shares
      of
      Stock), or (ii) any sale or transfer of all or substantially all of the assets
      of the Company or of the entity formed by such consolidation or resulting from
      such merger or which acquires such assets, then the Holder shall have the right
      thereafter to exercise this Warrant for the kind and amount of securities,
      cash
      and other property receivable upon such consolidation, merger, sale or transfer
      by a holder of the number of shares of Stock for which this Warrant may have
      been exercised immediately prior to such consolidation, merger, sale or
      transfer.

    

    b. Adjustments
      for events subsequent to the effective date of such a consolidation, merger
      and
      sale of assets shall be as nearly equivalent as may be practicable to the
      adjustments provided for in this Warrant. In any such event, effective
      provisions shall be made in the certificate or articles of incorporation of
      the
      resulting or surviving corporation, in any contract of sale, conveyance, lease
      or transfer, or otherwise so that the provisions set forth herein for the
      protection of the rights of the Holder shall thereafter continue to be
      applicable; and any such resulting or surviving corporation shall expressly
      assume the obligation to deliver, upon exercise, such shares of stock, other
      securities, cash and property. The provisions of this Section 5 shall similarly
      apply to successive consolidations, mergers, sales, leases or
      transfers.

    

    6. Rights
      and Obligations of the Warrant Holder.
      This
      Warrant shall not entitle the Holder to any rights of a stockholder in the
      Company.

    

    7. Restrictive
      Stock Legend.
      This
      Warrant and the Warrant Shares have not been registered under any securities
      laws. Accordingly, any stock certificates issued pursuant to the exercise of
      this Warrant shall from outside counsel for the Company or another law firm
      satisfactory to the Company that such legend is no longer necessary).

     

    8. Notices.

    

    a. The
      Company shall give the Holder written notice at least thirty (30) days prior
      to
      the occurrence of any event that accelerates the Expiration Date of this Warrant
      or that requires an adjustment of the Warrant Price, or that constitutes an
      event subject to the provisions of Section 5. In the event of failure of the
      Company to give the required notice, such failure will not invalidate any action
      taken by the Company, but will entitle the Holder to an additional period of
      thirty (30) days following the receipt of any subsequent notice of such event
      to
      exercise this Warrant or otherwise take action that would be permitted if such
      notice had been timely received.

    

    
      
        
        

      

      
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    b. Any
      notice or other communication required or permitted to be given here shall
      be in
      writing and shall be effective (i) upon hand delivery or delivery by e-mail
      or
      facsimile at the address or number designated below (if delivered on a business
      day during normal business hours where such notice is to be received), or the
      first business day following such delivery (if delivered other than on a
      business day during normal business hours where such notice is to be received),
      or (ii) on the third business day following the date of mailing by express
      courier service, fully prepaid, addressed to such address, or upon actual
      receipt of such mailing, whichever shall first occur. The addresses for such
      communication shall be:

    

    
      	
               If
                to the Company: 

            	
               

            	800 Fifth Avenue
              Suite
                4100

              Seattle,
                WA 98104

              Attn.:
                C.E.O.

              Telephone:
                (206) 447-1444

              Facsimile:
                (206) 774-1289 

            
	 	 	 
	
               
                If to the holder: 

            	 	c/o Ron Westman
              2033
                Main Street, Suite 405

              Sarasota,
                FL 34237

              Telephone:
                (941) 366-0217

              Facsimilie:
                (941) 366-5118

            

    

       

    Each
      party hereto may from time to time change its address for notices under this
      Section 8 by giving at least ten (10) days’
      notice
      of such changes address to the other party hereto.

    

    9. Amendments
      and Waivers.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought.

    

    {remainder
      of page intentionally left blank}

    

    10. Applicable
      Law.
      This
      Warrant shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York.

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Warrant to be duly executed on the day and year first
      above written.

    
      	 	 	 
	 	Infinium
              Labs,
              Inc.
	 
 	 
 	 
 
	 	By:  	/s/ Greg
              Koler
	 	
              

              Greg
                Koler

              Its:
                CEO

            
	 	 

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    

    ELECTION
      TO EXERCISE

     

    To: Infinium
      Labs, Inc.

    

    The
      undersigned hereby exercises its right to subscribe for and purchase from
      Infinium Labs Corporation fully paid, validly issued and non-assessable shares
      of Stock covered by the within Warrant and tenders payment herewith in the
      amount of __________________
      Dollars
      ($________)
      in
      accordance with the terms thereof, and requests that certificates for such
      shares be issued in the name of, and delivered
      to:__________________________________________________.

    
      
         

        
          	 	 	 
	Date: ________________________	{Holder}	 
	 	
                   

                   

                
	
                   

                	By: 	 
	
                    

                	Name:	 
	
                   
                    

                	Title:	 

        

         

      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

    

    ASSIGNMENT
      FORM

    

    To: Infinium
      Labs, Inc. 

    

    The
      undersigned hereby assigns and transfers this Warrant to
      _________________________________________________

    {insert
      assignee’s
      social
      security number or taxpayer identification number},
      _____________________________________

    ___________________{print
      or
      type assignee’s
      name,
      street address, city, state and zip code}, and irrevocably
      appoints _______________________________
      to
      transfer this Warrant on the books of the Company.

    
       

      
        	 	 	 
	Date: ________________________	{Holder}	 
	 	
                 

                 

              
	
                 

              	By: 	 
	
                  

              	Name:	 
	
                 
                  

              	Title:	 

      

       

    

    {Sign
      exactly as your name appears on the face of this Warrant.}

    

    

    Signature
      guarantee: _____________________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]