Document:

ex101.htm

    Exhibit
10.1

     

    SECURITIES
PURCHASE AGREEMENT

    

              SECURITIES PURCHASE AGREEMENT
(the "Agreement"),
is made and entered into as of January 19, 2010, by and among Gen2Media
Corporation, a Nevada corporation (the “Company”),
and each of the purchasers listed on Exhibit A attached hereto
(collectively, the “Purchasers”
and individually, a “Purchaser”).

    

    WHEREAS, the Company and the
Buyer is executing and delivering this Agreement in reliance upon the exemption
from securities registration afforded by Section 4(2) of the Securities Act of
1933, as amended (the "Securities
Act"), and Rule 506 of Regulation D ("Regulation D")
as promulgated by the United States Securities and Exchange Commission (the
"SEC")
under the Securities Act;

    

    WHEREAS, the Company desires
to issue and sell to the Purchasers, and the Purchasers desire to purchase from
the Company, up to 2,500,000 shares of common stock, par value $0.001 per share,
of the Company (the “Securities”),
on the terms and subject to the conditions set forth in this
Agreement.

    

    NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and
for other good and valuable consideration the receipt and adequacy of which are
hereby acknowledged, the Company and Purchaser agree as follows:

    

    
      1.1          
Agreement
to Purchase and Sell Securities.  On the terms and
subject to the conditions contained in this Agreement, each Purchaser severally
agrees to purchase, and the Company agrees to sell and issue to each Purchaser,
at Closing (as defined below), that number of Securities set forth on Exhibit A attached
hereto.  The purchase price of each share shall be
$0.20.

    

     

    1.2          
Right
to Exclusive Subscription.
Company hereby grants to Purchaser the exclusive right to purchase the
entire offering of $500,000 offered hereunder. Purchaser agrees to subscribe to
a minimum of $50,000, with $50,000 being funded on or before January 20 and
$50,000 being funded on or before February 20, 2010. Neither Company, nor any of
its officers or directors shall discuss any form of equity financing with any
third parties during the term of this exclusive period. This exclusive period
shall extend until May 30, 2010. Provided that Purchaser, Vanguard Capital, LLC
and/or Ryan Painter, or their respective assigns, fund a minimum of $50,000
($25,000 each) per month hereunder, Company shall not offer any securities for
sale to any other parties, and shall not discuss with any other parties any
financing of any kind or nature without the prior written consent of Vanguard
Capital, LLC and Ryan Painter.  In the event that Vanguard Capital,
LLC and/or Ryan Painter do not subscribe, in the aggregate, for a minimum of
$50,000 per month during the months of January, February, March, April and May
2010, Company shall be free to offer the securities to other potential
investors, or terminate the offering.  Such termination will not
affect, in any way, any monies or shares previously subscribed and paid
for.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    2.           Closing.  The closing of
the purchase and sale of the Securities shall take place at the offices of the
Company during the time period as described in paragraph in paragraph 1.2, or at
such other time and place as the Company and Purchasers representing a majority
of the Common Stock to be purchased mutually agree upon (which time and place
are referred to in this Agreement as the “Closing”).  At
the Closing, the Company shall, against delivery of payment for the Purchased
Securities by wire transfer of immediately available funds in accordance with
the Company’s instructions, (a) authorize its transfer agent to issue to each
Purchaser one or more stock certificates (the “Certificates”)
registered in the name of each Purchaser (or in such nominee name(s) as
designated by such Purchaser), representing the appropriate number of Common
Stock purchased hereunder.  Closing documents may be delivered by
facsimile with original signature pages sent by overnight
courier.  The date of the Closing is referred to herein as the “Closing
Date.”

    

    3.           Representations
and Warranties of The Company.  The Company
hereby represents and warrants to each Purchaser, as of the Closing Date, as
follows:

    

    3.1           Organization and
Standing.  The Company is a corporation duly organized, validly
existing and in good standing under the laws of the state of Delaware, and has
full corporate power and authority to execute and deliver this Agreement and
perform its obligations hereunder.

    

    3.2           Authority Relative to this Agreement;
No Conflict.  The execution, delivery and performance of this
Agreement by the Company have been duly and validly authorized by all necessary
corporate proceedings and no other authorization or approval is required to
permit consummation of the transactions contemplated hereby.  This
Agreement has been duly executed and delivered by the Company and constitutes
the legal, valid and binding obligation of the Company enforceable against the
Company in accordance with its terms.  Neither the execution and
delivery of this Agreement nor the consummation of the transactions contemplated
hereby will (a) violate or result in a breach of or default or acceleration
under (i) any provisions of the certificate of incorporation or by-laws (or
other governing instrument) of the Company, as currently in effect, or (ii) any
mortgage, indenture, contract, agreement, license, franchise, permit,
instrument, trust, power, judgment, decree, order, ruling or federal, state or
local statute or regulation to which the Company is presently a party or by
which it or its properties may be subject, (b) result in the creation or
imposition of any lien, claim, charge, restriction or encumbrance of any kind
whatsoever upon, or give to any other person any interest or right (including
any right of termination or cancellation) in or with respect to any properties,
assets, business, agreements or contracts of the Company, or (c) require any
consent, approval or waiver of, filing with, or notification to any person
(including, without limitation, any governmental or regulatory
authority).

    

    3.3           Title to the
Securities.  The Securities, when issued, sold and delivered by
the Company to Purchaser in accordance with the terms of this Agreement, will be
duly authorized, validly issued, fully paid and non-assessable, and will be free
and clear of all restrictions, claims, liens, charges and encumbrances
whatsoever, except as may exist under applicable federal and state securities
laws. Holders of Securities of Common Stock have no preemptive rights to
purchase any other Securities or securities of any class that may at any time be
sold or offered for sale by The Company.  There are no options,
warrants, rights or other commitments relating to the sale of the
Securities.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    3.4           Offering of Common
Stock.  Neither The Company nor anyone acting on its behalf has
in the past or will hereafter take any action that would cause the issuance or
sale of the Securities to violate the registration requirements of the
Securities Act.

    

    3.5           Consents. The company is not
required to obtain any consent, authorization or order of, or make any filing or
registration with, any court, governmental agency or any regulatory or
self-regulatory agency or any other person in order for it to execute, deliver
or perform any of its obligations under or contemplated by this Agreement, in
each case in accordance with the terms hereof or thereof.  All
consents, authorizations, orders, filings and registrations which the Company is
required to obtain pursuant to the preceding sentence have been obtained or
effected on or prior to the Closing, and the Company is unaware of any facts or
circumstances which might prevent the Company from obtaining or effecting any of
the registration, application or filings pursuant to the preceding
sentence.

    

    3.6           Acknowledgment Regarding Purchaser's
Purchase of Securities.  The Company acknowledges and agrees
that the Purchaser is acting solely in the capacity of arm's length purchaser
with respect to this Agreement and the transactions contemplated hereby and
thereby and that the Purchaser is not (i) an officer or director of the Company,
(ii) an "affiliate" of the Company or any of its subsidiaries (as defined in
Rule 144) or (iii) to the knowledge of the Company, a "beneficial owner" of more
than 10% of the shares of Common Stock (as defined for purposes of Rule 13d-3 of
the Securities Exchange Act of 1934, as amended (the "1934
Act")).  The Company further acknowledges that the Purchaser is
not acting as a financial advisor or fiduciary of the Company or any of its
subsidiaries (or in any similar capacity) with respect to this Agreement and the
transactions contemplated hereby and thereby, and any advice given by the
Purchaser or any of its representatives or agents in connection with this
Agreement and the transactions contemplated hereby and thereby is merely
incidental to the Purchaser 's purchase of the Securities.  The
Company further represents to the Purchaser that the Company's decision to enter
into this Agreement has been based solely on the independent evaluation by the
Company and its representatives.

    

    3.7           No General Solicitation; Placement
Agent.  Neither the Company, nor any of its subsidiaries or
affiliates, nor any person acting on its or their behalf, has engaged in any
form of general solicitation or general advertising (within the meaning of
Regulation D) in connection with the offer or sale of the Securities. The
Company shall pay, and hold the Purchaser harmless against, any liability, loss
or expense (including, without limitation, reasonable attorney's fees and
out-of-pocket expenses) arising in connection with any such claim. The Company
has not engaged any placement agent or other agent in connection with the sale
of the Securities.

    

    3.8           Absence of
Litigation.  There is no action, suit, proceeding, inquiry or
investigation before or by any court, public board, government agency,
self-regulatory organization or body pending or, to the knowledge of the
Company, threatened against or affecting the Company or any of its subsidiaries,
the Common Stock or any of the Company's subsidiaries or any of the Company's or
its subsidiaries' officers or directors in their capacities as
such.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    4.  Representations
and Warranties of Purchaser.  Purchaser hereby
represents and warranties to Seller as follows:

    

    4.1           Accredited Investor
Status.  The Purchaser, if an individual, is an "accredited
investor" as that term is defined in Rule 501(a) of Regulation D.

    

    4.2           Organization; Authority. The
Purchaser, if an entity, is an entity duly organized, validly existing and in
good standing under the laws of the jurisdiction of its organization with the
requisite power and authority to enter into and perform under this Agreement.
The execution, delivery and performance of this Agreement by such Purchaser have
been duly authorized and executed by all necessary action by such Purchaser.
This Agreement, when delivered in accordance with the terms hereof, will
constitute the valid and legally binding obligation of such Purchaser,
enforceable against it in accordance with its terms, except (a) as limited by
general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting
enforcement of creditors’ rights generally, (b) as limited by laws relating to
the availability of specific performance, injunctive relief or other equitable
remedies and (c) insofar as indemnification and contribution provisions may be
limited by applicable law

    

    4.3           No Public Sale or
Distribution.  The Purchaser is acquiring the Securities for
its own account and not with a view towards, or for resale in connection with,
the public sale or distribution thereof, except pursuant to sales registered or
exempted under the 1933 Act; provided, however, that by
making the representations herein, the Purchaser does not agree to hold any of
the Securities for any minimum or other specific term and reserves the right to
dispose of the Securities at any time in accordance with or pursuant to a
registration statement or an exemption under the Securities Act.  The
Purchaser is acquiring the Securities hereunder in the ordinary course of its
business. The Purchaser does not presently have any agreement or understanding,
directly or indirectly, with any person or entity to distribute any of the
Securities.

    

    4.4           Transfer or
Resale.  The Purchaser understands that: (i) the Securities
have not been and are not being registered under the Securities Act or any state
securities laws, and may not be offered for sale, sold, assigned or transferred
unless (A) subsequently registered thereunder, (B) the Purchaser shall have
delivered to the Company an opinion of counsel, in a generally acceptable form,
to the effect that such Securities to be sold, assigned or transferred may be
sold, assigned or transferred pursuant to an exemption from such registration,
or (C) the Purchaser provides the Company with reasonable assurance that such
Securities can be sold, assigned or transferred pursuant to Rule 144 or Rule
144A promulgated under the Securities Act, as amended, (or a successor rule
thereto) (collectively, "Rule
144"); (ii) any sale of the Securities made in reliance on Rule 144 may
be made only in accordance with the terms of Rule 144 and further, if Rule 144
is not applicable, any resale of the Securities under circumstances in which the
seller may be deemed to be an underwriter (as that term is defined in the
Securities Act) may require compliance with some other exemption under the
Securities Act or the rules and regulations of the SEC thereunder; and (iii)
neither the Company nor any other person is under any obligation to register the
Securities under the Securities Act or any state securities laws or to comply
with the terms and conditions of any exemption thereunder. The Securities may be
pledged in connection with a bona fide margin account or other loan or financing
arrangement secured by the Securities and such pledge of Securities shall not be
deemed to be a transfer, sale or assignment of the Securities hereunder, and no
Purchaser effecting a pledge of Securities shall be required to provide the
Company with any notice thereof or otherwise make any delivery to the Company
pursuant to this Agreement.

    

    4.5           Authority Relative to this Agreement.
The Purchaser further represents and warrants to, and covenants with, the
Company that (i) the Purchaser has full right, power, authority and capacity to
enter into this Agreement and to consummate the transactions contemplated hereby
and has taken all necessary action to authorize the execution, delivery and
performance of this Agreement, and (ii) this Agreement constitutes a valid and
binding obligation of the Purchaser enforceable against the Purchaser in
accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors’ and contracting parties’ rights generally and except as
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law)
and except as the indemnification agreements of the Purchasers herein may be
legally unenforceable.

    

    4.6           Knowledge and Access to
Information.  i)  Purchaser has made such
investigation into the financial condition, earnings, prospects and affairs of
Seller as Purchaser deems appropriate to make an informed decisions as to
whether to subscribe to the Securities and, except for the
specific representations and warranties contained in this Agreement, is not
relying on any representation or warranty by Seller or any other person in
entering into this Agreement, and ii)  Purchaser has been offered the
opportunity to ask questions of any officer of Seller or any other person
responsible for the management of Seller relating to the financial condition,
earnings, prospects and affairs of Seller.

    

    4.7           Restricted
Securities.  The Purchaser understands that the certificates or
other instruments representing the Securities, except as set forth below, shall
bear any legend as required by the "blue sky" laws of any state and a
restrictive legend in substantially the following form (and a stop-transfer
order may be placed against transfer of such stock certificates):

     

    THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE 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 (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION
OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE SECURITIES.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    The
legend set forth above shall be removed and the Company shall issue a
certificate without such legend to the holder of the Securities upon which it is
stamped or issue to such holder by electronic delivery at the applicable balance
account at DTC (as defined below), unless otherwise required by state securities
laws, when (i) such Securities are registered for resale under the Securities
Act, (ii) in connection with a sale, assignment or other transfer, such holder
provides the Company with an opinion of counsel, in a generally acceptable form,
to the effect that such sale, assignment or transfer of the Notes may be made
without registration under the applicable requirements of the Securities Act, or
(iii) such holder provides the Company with reasonable assurance that the
Securities can be sold, assigned or transferred pursuant to Rule 144 or Rule
144A.

     

    4.8           No Conflicts.  The
execution, delivery and performance by the Purchaser of this Agreement and the
consummation by the Purchaser of the transactions contemplated hereby and
thereby will not (i) result in a violation of the organizational documents of
the Purchaser or (ii) conflict with, or constitute a default (or an event which
with notice or lapse of time or both would become a default) under, or give to
others any rights of termination, amendment, acceleration or cancellation of,
any agreement, indenture or instrument to which the Purchaser is a party, or
(iii) result in a violation of any law, rule, regulation, order,
judgment  or decree (including federal and state securities laws)
applicable to the Purchaser, except in the case of clauses (ii) and (iii) above,
for such conflicts, defaults, rights or violations which would not, individually
or in the aggregate, reasonably be expected to have a material adverse effect on
the ability of the Purchaser to perform its obligations hereunder.

     

    5.  Miscellaneous.

    

    5.1           Notices.  All
notices required or permitted hereunder shall be in writing and shall be deemed
effectively given:

     

    (i) upon
personal delivery to the party to be notified;

     

    (ii) when sent
by confirmed facsimile if sent during normal business hours of the recipient, if
not, then on the next business day;

     

    (iii) three (3)
business days after having been sent by registered or certified mail, return
receipt requested, postage prepaid; or

     

    (iv) one (1)
day after deposit with a nationally recognized overnight courier, specifying
next day delivery, with written verification of receipt.

     

    All
communications shall be sent as follows:

     

    
      	
              If
      to the Company, to:

               

              Thomas
      Moreland

               Chief
      Financial Officer

              7658
      Municipal Dr., Orlando FL 32819

              (t)
      321-293-3360

              (f)
      866-275-0923

               

              With
      a Copy, to:

               

              Sichenzia
      Ross Friedman Ference LLP

              61
      Broadway, 32nd
      Fl.

              New
      York, New York 10006

              Attn:
      Marc J. Ross

              (t)
      212-930-9700

              (f)
      212-930-9725

            
	
               

              If to the Purchaser, to the
      address set forth on the signature page hereto.

               

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    5.2           Governing Law.  This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of Nevada applicable to agreements made and to be performed
therein.

    

    5.3           Binding
Effect.  This Agreement and all of the provisions hereof shall
be binding upon and inure only to the benefit of the parties hereto and their
respective heirs, executors and personal representatives, and successors to the
business and assets of such parties.

    

    5.4           Additional
Acts.    Each of the parties hereto shall hereafter,
at the reasonable request of the other party hereto, execute and deliver such
further documents and agreements, and do such further acts and things as may be
necessary or expedient to carry out the provisions of this
Agreement.

    

    5.5           Entire Agreement;
Amendments.  This Agreement constitutes a complete statement of
all of the arrangements between the parties with respect to the transactions
contemplated by this Agreement, and supersedes all prior agreements and
understandings with respect to such transactions between them.  This
Agreement cannot be changed or terminated except by an instrument in writing
signed by the parties hereto.

    

    5.6           Brokers.  Each party
hereto represents and warrants to the other party that neither such party nor
any director, officer, partner, agent or employee of such party has employed any
broker or finder, or, directly or indirectly, incurred any liability for any
brokerage or finder's fees or commissions or similar payments in connection with
the transactions contemplated by this Agreement.

    

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

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    [Signature
page follows]

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    

    IN WITNESS WHEREOF, the undersigned
have executed this Agreement on the date first above written.

     

    
      
        	 	Gen2Media Corporation	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ 	 
	 	 	Thomas
      Moreland	 
	 	 	
                Chief
      Financial Officer

              	 
	 	 	 	 

      

    

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    

    SIGNATURE
PAGE TO

     

    

     

    SECURITIES
PURCHASE AGREEMENT

     

    

     

    DATED
AS OF JANUARY 19, 2010

     

    

     

    BY
AND AMONG

     

    

     

    GEN2MEDIA
CORPORATION

     

    

     

    AND
EACH PURCHASER NAMED THEREIN

     

    The
undersigned hereby executes and delivers to Gen2Media Corporation, the
Securities Purchase Agreement (the “Agreement”)
to which this signature page is attached, which Agreement and signature page,
together with all counterparts of such Agreement and signature pages of the
other Purchasers named in such Agreement, shall constitute one and the same
document in accordance with the terms of such Agreement.

     

    

     

    
      	Name of Purchaser	 
	 	 
	Signature:  	 
	 	 
	By: 	 
	 	 
	Subscription
      Price:      $	 
	 	 
	Title: 	 
	 	 
	Address:   	 
	 	 
	 	 
	 	 
	Telephone: 	 
	 	 
	Fax: 	 
	 	 
	SS/Tax ID
      Number: 	 

    

     

     

    

                                                                              

    

                                                                               

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    

                                                                               

    CONFIDENTIAL

     

    ACCREDITED
INVESTOR QUESTIONNAIRE

     

    
      	
              To:

            	
              _______________________

            

    

    

    For
purposes of assuring Gen2Media Corporation (the “Company”) that you qualify as
an "accredited investor," as defined in Rule 501 of Regulation D under the
Securities Act of 1933, as amended (the "Securi­ties Act”), you represent
and warrant that you are an "accredited investor" by virtue of your responses to
the questions below.  In order to certify that you are an accredited
investor, respond affirmatively to at least one of the following questions
(check "yes" below the appropriate items(s)):

    

    A.
If you are a natural person, is your net worth (joint­ly with your spouse,
if any), in­­cluding homes, home furnishings and automobiles, in excess
of $1,000,000 (valu­ing your assets on the basis of their current fair
market value)?

     

    Yes_____        No_____

    

     

    B.
If you are a natural person, was your individual income for both 2007 and 2008
and your anticipated individual income for 2009 in excess of
$200,000?

     

    Yes_____        No_____

    

     

    C.
If you are a natural person, was your joint income with your spouse for both
2007 and 2008 and your anticipated individual income for 2009, in ex­cess of
$300,000?

     

    Yes_____        No_____

    

     

    D.
Are you a director or executive officer of the Company?

     

    Yes_____        No_____

    

     

    E.
If you are a corporation, a limited liability company, a par­tner­ship,
an organization described in Section 501(c)(3) of the Internal Revenue Code or a
Massa­chusetts or similar business trust not formed for the specific purpose
of acquiring the securities offered, are your total assets in ex­­cess
of $5,000,000?

     

    Yes_____        No_____

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    F.
If you are a trust, (i) do you have total assets in excess of $5,000,000, (ii)
were you formed for a purpose other than the specific purpose of acquiring the
shares of common stock, and (iii) is your purchase of the shares of common stock
directed by a person having such knowledge and experience in financial and
business matters that he or she is capable of evaluating the merits and risks of
the proposed transaction.   (If your answer is "no" to any of
parts (i), (ii), or (iii) of this section (f), answer no below.)

     

    Yes_____        No_____

    

     

    G.
Are you either a bank as defined in Section 3(a)(2) of the Securities Act, a
savings and loan association or other institution as defined in Section
3(a)(5)(A) of the Securities Act (acting either in its individual or fiduciary
capacity), a broker or dealer registered pursuant to Section 15 of the
Securities Exchange Act of 1934 (“broker/dealer”), affiliated with a
broker/dealer an insurance company as defined in Section 2(a)(13) of the
Securities Act, an investment company registered under the Investment Company
Act of 1940 (the “Investment Company Act”), a business development company as
defined in Section 2(a)(48) of the Investment Company Act, or a Small Business
Investment Company licensed by the U.S. Small Business Adminis­tration under
Section 301(c) or (d) of the Small Business Investment Act of 1958?

     

    Yes_____        No_____

    

     

    H.
If you are an employee benefit plan, within the mean­ing of the Employee
Retire­ment Income Security Act of 1974, as amended ("ERISA"), (i) are your
in­­vest­ment decisions made by a bank, savings and loan
association, insurance com­pany, or registered investment advisor acting as
a plan fiduciary or any other type of “plan fiduciary” as such term is defined
in Section 3(21) of ERISA, (ii) are your total plan assets in excess of
$5,000,000, or (iii) if a self-directed plan, are your investment decisions made
sole­ly by persons that are accredited investors?  (If your answer
is "yes" to any of parts (i), (ii), or (iii) above, answer yes
below.)

     

    Yes_____        No_____

    

     

    I.
If you are a plan established and main­tained by a state, its political
subdivisions, or any agency or instrumentality of a state or its political
subdivisions, for the benefit of its employees, do you have total assets in
excess of $5,000,000?

     

    Yes_____        No_____

    

     

    J.
Are you a private business development company as defined in Section 202(a)(22)
of the Investment Advisers Act of 1940?

     

     Yes_____        No_____

     

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    K.
If you are an entity, are all of the equity owners of the entity accredited
in­vestors, that is, can each equity owner answer "yes" to at least one of
the ques­tions in Sections (a) through (j) above?

     

    Yes_____        No_____

     

    If
this Section K is the only section that you have responded to in the
affirmative, you must identify each equity owner of the entity either below or
on a separate sheet if necessary, and each equity owner must also
separately  provide the Company with their own  fully
completed and executed Accredited Investor Questionnaire in order to demonstrate
that they are an accredited investor in their own capacity.

    

    Equity Owners:

    

     
 

     
 

    The
foregoing representation and warranty has been made by you with the
understanding that the Company is, and will be, relying upon the truth and
accuracy of the representation and warranty herein made by you in transferring
to you the shares of common stock without having regis­tered them under the
Securities Act or any applicable state securities laws, and you agree that such
representation and warranty shall survive your acquisition of the shares of
common stock.

     

    IN
WITNESS WHEREOF, you have executed this Accredited Investor Questionnaire as of
the date set forth below, intending to be legally bound hereby.

     

    

    Individuals
sign below:

    
      
        	 	 	 	 	 
	
              	 	 	
                 

              	 
	
                Signature
      of Subscriber 

              	 	 	Signature of Joint Subscriber, if
      any*	 
	
                 

              	 	 	
                 

              	 
	 	 	 	 	 
	Print
      Name of
      Subscriber                                                                           	 	 	Print
      Name of Joint Subscriber, if any*	 

      

    

     

    *If
investment is in joint names, both must sign.

    

    Date:
_____________________

     

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    

    Corporations,
limited liability companies, trusts, partnerships, retirement plans or
retirement accounts and other entities sign below:

     

    
      
        	 	 	 	 	 
	
              	 	 	
                 

              	 
	
                (Print
      Name of Entity)

              	 	 	
                 

              	 
	
                 

              	 	 	
                 

              	 
	By:	 	 	 	 
	 (Signature)	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	(Print
      Name and Title of Signatory)	 	 	 	 

      

    

     

    Date:
___________________

    

    

    

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    

     

     

    EXHIBIT
A

     

    Schedule
of Purchasers

     

    

    Vanguard
Capital,
LLC                                                                   $25,000

    

    Ryan
Painter                                                                                     $25,000

     

    13ex102.htm

    Exhibit
10.2

     

    NEITHER
THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE
BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS
EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE
SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
COMPANY.  THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF
THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR
OTHER LOAN SECURED BY SUCH SECURITIES.

    

    Warrant
Certificate No. __

    

    COMMON
STOCK PURCHASE WARRANT

    

    To
Purchase ________________ Shares of Common Stock of

    GEN2MEDIA
CORPORATION

     

    THIS COMMON STOCK PURCHASE WARRANT (the
“Warrant”) certifies that, for
value received, [________________] (the “Holder”), is entitled, upon the terms
and subject to the limitations on exercise and the conditions hereinafter set
forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or
prior to the close of business on January 31,  2012, (the “Termination Date”) but not thereafter,
to subscribe for and purchase from GEN2MEDIA CORPORATION, a Nevada corporation
(the “Company”), up to
____________ shares (the “Warrant
Shares”) of Common Stock, par value $.001 per share, of the Company (the
“Common Stock”).  The purchase price of one share of Common Stock
under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

     

    Section
1.                      Exercise.

     

        a)           Exercise of
Warrant.  Exercise of the purchase rights represented by this
Warrant may be made, in whole or in part, at any time or times on or after the
Initial Exercise Date and on or before the Termination Date by delivery to the
Company of a duly executed facsimile copy of the Notice of Exercise form annexed
hereto (or such other office or agency of the Company as it may designate by
notice in writing to the registered Holder at the address of such Holder
appearing on the books of the Company); and, within three (3) Trading Days of
the date said Notice of Exercise is delivered to the Company, the Company shall
have received payment of the aggregate Exercise Price of the shares thereby
purchased by wire transfer or cashier’s check drawn on a United States
bank.  Notwithstanding anything herein to the contrary, the Holder
shall not be required to physically surrender this Warrant to the Company until
the Holder has purchased all of the Warrant Shares available hereunder and the
Warrant has been exercised in full, in which case, the Holder shall surrender
this Warrant to the Company for cancellation within three (3) Trading Days of
the date the final Notice of Exercise is delivered to the
Company.  Partial exercises of this Warrant resulting in purchases of
a portion of the total number of Warrant Shares available hereunder shall have
the effect of lowering the outstanding number of Warrant Shares purchasable
hereunder in an amount equal to the applicable number of Warrant Shares
purchased.  The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such
purchases.  The Company shall deliver any objection to any Notice of
Exercise within two (2) Trading Days of receipt of such notice.  THE HOLDER AND ANY ASSIGNEE, BY ACCEPTANCE OF THIS
WARRANT, ACKNOWLEDGE AND AGREE THAT, BY REASON OF THE PROVISIONS OF THIS
PARAGRAPH, FOLLOWING THE PURCHASE OF A PORTION OF THE WARRANT SHARES HEREUNDER,
THE NUMBER OF WARRANT SHARES AVAILABLE FOR PURCHASE HEREUNDER AT ANY GIVEN TIME
MAY BE LESS THAN THE AMOUNT STATED ON THE FACE HEREOF.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

        b)           Exercise Price.  The
exercise price per share of the Common Stock under this Warrant shall be $0.30
(the “Exercise Price”).

     

        c)           Mechanics of Exercise.

     

        i.           Authorization of Warrant
Shares.  The Company covenants that all Warrant Shares which
may be issued upon the exercise of the purchase rights represented by this
Warrant will, upon exercise of the purchase rights represented by this Warrant,
be duly authorized, validly issued, fully paid and nonassessable and free from
all taxes, liens and charges created by the Company in respect of the issue
thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

     

        ii.           Delivery of Certificates Upon
Exercise.  Certificates for Warrant Shares purchased hereunder
shall be transmitted by the transfer agent of the Company to the Holder by
crediting the account of the Holder’s prime broker with the Depository Trust
Company through its Deposit/Withdrawal at Custodian (“DWAC”) system if the
Company is a participant in such system, and otherwise by delivery to the
address specified by the Holder in the Notice of Exercise, within five (5)
Trading Days from the delivery to the Company of the Notice of Exercise form,
surrender of this Warrant (if required) and payment of the aggregate Exercise
Price as set forth above (“Warrant Share Delivery Date”).  This
Warrant shall be deemed to have been exercised on the date the Exercise Price is
received by the Company.  The Warrant Shares shall be deemed to have
been issued, and Holder or any other person so designated to be named therein
shall be deemed to have become a holder of record of such shares for all
purposes, as of the date the Warrant has been exercised by payment to the
Company of the Exercise Price and all taxes required to be paid by the Holder,
if any, have been paid.

     

        iii.           Delivery of New Warrants Upon
Exercise.  If this Warrant shall have been exercised in part,
the Company shall, at the request of a Holder and upon surrender of this Warrant
certificate, at the time of delivery of the certificate or certificates
representing Warrant Shares, deliver to Holder a new Warrant evidencing the
rights of Holder to purchase the unpurchased Warrant Shares called for by this
Warrant, which new Warrant shall in all other respects be identical with this
Warrant.

     

        iv.           Rescission Rights.  If the
Company fails to cause its transfer agent to transmit to the Holder a
certificate or certificates representing the Warrant Shares pursuant to this
Section 2 by the Warrant Share Delivery Date, then the Holder will have the
right to rescind such exercise.

     

        v.           Obligation Absolute. The Corporation’s
obligations to issue and deliver the certificates representing the Warrant
Shares upon exercise of the Warrant in accordance with the terms hereof are
absolute and unconditional, irrespective of any action or inaction by the Holder
to enforce the same, any waiver or consent with respect to any provision hereof,
the recovery of any judgment against any Person or any action to enforce the
same, or any setoff, counterclaim, recoupment, limitation or termination, or any
breach or alleged breach by the Holder or any other Person of any obligation to
the Corporation or any violation or alleged violation of law by the Holder or
any other person, and irrespective of any other circumstance which might
otherwise limit such obligation of the Corporation to the Holder in connection
with the issuance of such certificates representing the Warrant
Shares.  The Corporation shall issue the certificates representing the
Warrant Shares upon a properly noticed exercise.

     

        vi.           No Fractional Shares or
Scrip.  No fractional shares or scrip representing fractional
shares shall be issued upon the exercise of this Warrant.  As to any
fraction of a share which Holder would otherwise be entitled to purchase upon
such exercise, the Company shall round up to the next whole share.

     

        vii.           Charges, Taxes and
Expenses.  Issuance of certificates for Warrant Shares shall be
made without charge to the Holder or other incidental expense in respect of the
issuance of such certificate, and such certificates shall be issued in the name
of the Holder or in such name or names as may be directed by the Holder;
provided, however, that in the event certificates for Warrant Shares are to be
issued in a name other than the name of the Holder, this Warrant when
surrendered for exercise shall be accompanied by the Assignment Form attached
hereto duly executed by the Holder; the assignment shall be subject to Section 4
below, and the Company may require, as a condition thereto, the payment of a sum
sufficient to reimburse it for any transfer tax incidental thereto.

     

        viii.           Closing of Books.  The
Company will not close its stockholder books or records in any manner which
prevents the timely exercise of this Warrant, pursuant to the terms
hereof.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Section
2.                      Certain Adjustments.

     

        a)           Stock Dividends and
Splits.  If the Company, at any time while this Warrant is
outstanding: (i) pays a stock dividend or otherwise makes a distribution or
distributions on shares of its Common Stock or any other equity or equity
equivalent securities payable in shares of Common Stock (which, for avoidance of
doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), provided that this clause (i) subdivides outstanding
shares of Common Stock into a larger number of shares, (ii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller
number of shares, or (iii) issues by reclassification of shares of the Common
Stock any shares of capital stock of the Company, then in each case the Exercise
Price shall be multiplied by a fraction of which the numerator shall be the
number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number
of shares of Common Stock outstanding immediately after such event and the
number of shares issuable upon exercise of this Warrant shall be proportionately
adjusted.  Any adjustment made pursuant to this Section 3(a) shall
become effective immediately after the record date for the determination of
stockholders entitled to receive such dividend or distribution and shall become
effective immediately after the effective date in the case of a subdivision,
combination or re classification.

     

        b)           Fundamental Transaction. If, at any
time while this Warrant is outstanding, (i) the Company effects any merger or
consolidation of the Company with or into another Person, (ii) the Company
effects any sale of all or substantially all of its assets in one or a series of
related transactions, (iii) any tender offer or exchange offer (whether by the
Company or another Person) is completed pursuant to which holders of Common
Stock are permitted to tender or exchange their shares for other securities,
cash or property, or (iv) the Company effects any reclassification of the Common
Stock or any compulsory share exchange pursuant to which the Common Stock is
effectively converted into or exchanged for other securities, cash or property
(in any such case, a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each
Warrant Share that would have been issuable upon such exercise immediately prior
to the occurrence of such Fundamental Transaction, at the option of the Holder,
(a) upon exercise of this Warrant, the number of shares of Common Stock of the
successor or acquiring corporation or of the Company, if it is the surviving
corporation, and any additional consideration (the “Alternate Consideration”)
receivable upon or as a result of such reorganization, reclassification, merger,
consolidation or disposition of assets by a Holder of the number of shares of
Common Stock for which this Warrant is exercisable immediately prior to such
event or (b) if the Company is acquired in an all cash transaction, cash equal
to the value of this Warrant as determined in accordance with the Black-Scholes
option pricing formula.  For purposes of any such exercise, the
determination of the Exercise Price shall be appropriately adjusted to apply to
such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Exercise Price among the
Alternate Consideration in a reasonable manner reflecting the relative value of
any different components of the Alternate Consideration.  To the
extent necessary to effectuate the foregoing provisions, any successor to the
Company or surviving entity in such Fundamental Transaction shall issue to the
Holder a new warrant consistent with the foregoing provisions and evidencing the
Holder’s right to exercise such warrant into Alternate Consideration. The terms
of any agreement pursuant to which a Fundamental Transaction is effected shall
include terms requiring any such successor or surviving entity to comply with
the provisions of this Section 3(b) and insuring that this Warrant (or any such
replacement security) will be similarly adjusted upon any subsequent transaction
analogous to a Fundamental Transaction.

     

        c)           Notice to Allow Exercise by Holder. If
(A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Common Stock; (B) the Company shall declare a special nonrecurring
cash dividend on or a redemption of the Common Stock; (C) the Company shall
authorize the granting to all holders of the Common Stock rights or warrants to
subscribe for or purchase any shares of capital stock of any class or of any
rights; (D) the approval of any stockholders of the Company shall be required in
connection with any reclassification of the Common Stock, any consolidation or
merger to which the Company is a party, any sale or transfer of all or
substantially all of the assets of the Company, of any compulsory share exchange
whereby the Common Stock is converted into other securities, cash or property;
(E) the Company shall authorize the voluntary or involuntary dissolution,
liquidation or winding up of the affairs of the Company; then, in each case, the
Company shall cause to be mailed to the Holder at its last address as it shall
appear upon the Warrant Register of the Company, at least ten (10) calendar days
prior to the applicable record or effective date hereinafter specified, a notice
stating (X) the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to
be taken, the date as of which the holders of the Common Stock of record to be
entitled to such dividend, distributions, redemption, rights or warrants are to
be determined or (Y) the date on which such reclassification, consolidation,
merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of the Common Stock for
securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange; provided that the
failure to mail such notice or any defect therein or in the mailing thereof
shall not affect the validity of the corporate action required to be specified
in such notice.  The Holder is entitled to exercise this Warrant
during the ten (10) day period commencing on the date of such notice to the
effective date of the event triggering such notice.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    Section
3.                      Transfer of Warrant.

     

        a)           Transferability.  Subject to
compliance with any applicable securities laws and the conditions set forth in
Section 4(d) hereof, this Warrant and all rights hereunder (including, without
limitation, any registration rights) are transferable, in whole or in part, upon
surrender of this Warrant at the principal office of the Company or its
designated agent, together with a written assignment of this Warrant
substantially in the form attached hereto duly executed by the Holder or its
agent or attorney and funds sufficient to pay any transfer taxes payable upon
the making of such transfer.  Upon such surrender and, if required,
such payment, the Company shall execute and deliver a new Warrant or Warrants in
the name of the assignee or assignees and in the denomination or denominations
specified in such instrument of assignment, and shall issue to the assignor a
new Warrant evidencing the portion of this Warrant not so assigned, and this
Warrant shall promptly be cancelled.  A Warrant, if properly assigned,
may be exercised by a new holder for the purchase of Warrant Shares without
having a new Warrant issued.

     

        b)           New Warrants. This Warrant may be
divided or combined with other Warrants upon presentation hereof at the
aforesaid office of the Company, together with a written notice specifying the
names and denominations in which new Warrants are to be issued, signed by the
Holder or its agent or attorney.  Subject to compliance with Section
4(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for
the Warrant or Warrants to be divided or combined in accordance with such
notice.

     

        c)           Warrant Register. The Company shall
register this Warrant, upon records to be maintained by the Company for that
purpose (the “Warrant Register”), in the name of the record Holder hereof from
time to time.  The Company may deem and treat the registered Holder of
this Warrant as the absolute owner hereof for the purpose of any exercise hereof
or any distribution to the Holder, and for all other purposes, absent actual
notice to the contrary.

     

        d)           Transfer Restrictions. If, at the time
of the surrender of this Warrant in connection with any transfer of this
Warrant, the transfer of this Warrant shall not be registered pursuant to an
effective registration statement under the Securities Act and under applicable
state securities or blue sky laws, the Company may require, as a condition of
allowing such transfer (i) that the Holder or transferee of this Warrant, as the
case may be, furnish to the Company a written opinion of counsel (which opinion
shall be in form, substance and scope customary for opinions of counsel in
comparable transactions) to the effect that such transfer may be made without
registration under the Securities Act and under applicable state securities or
blue sky laws, (ii) that the holder or transferee execute and deliver to the
Company an investment letter in form and substance acceptable to the Company and
(iii) that the transferee be an “accredited investor” as defined in Rule
501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8) promulgated under the Securities
Act or a “qualified institutional buyer” as defined in Rule 144A(a) under the
Securities Act.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    Section
4.                      Transfer of Securities.

     

        a)           This
Warrant and the Warrant Shares and any shares of capital stock received in
respect thereof, whether by reason of a stock split or share reclassification
thereof, a stock dividend thereon, or otherwise, shall not be transferable
except upon compliance with the provisions of the Securities Act of 1933, as
amended (the “Securities Act”) and applicable state securities laws with respect
to the transfer of such securities.  The Holder, by acceptance of this
Warrant, agrees to be bound by the provisions of Section 4 hereof and to
indemnify and hold harmless the Company against any loss or liability arising
from the disposition of this Warrant or the Warrant Shares issuable upon
exercise hereof or any interest in either thereof in violation of the provisions
of this Warrant.

    

        b)           Each
certificate for the Warrant Shares and any shares of capital stock received in
respect thereof, whether by reason of a stock split or share reclassification
thereof, a stock dividend thereon or otherwise, and each certificate for any
such securities issued to subsequent transferees of any such certificate shall
(unless otherwise permitted by the provisions hereof) be stamped or otherwise
imprinted with a legend in substantially the following form:

    
    

     

    
      	“NEITHER THIS
      WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
      APPLICABLE STATE SECURITIES LAW AND NEITHER MAY BE SOLD OR OTHERWISE
      TRANSFERRED UNTIL (I) A REGISTRATION STATEMENT UNDER SUCH SECURITIES ACT
      AND SUCH APPLICABLE STATE SECURITIES LAWS SHALL HAVE BECOME EFFECTIVE WITH
      REGARD THERETO, OR (II) THE COMPANY SHALL HAVE RECEIVED A WRITTEN OPINION
      OF COUNSEL ACCEPTABLE TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER
      SUCH SECURITIES ACT AND SUCH APPLICABLE STATE SECURITIES LAWS IS NOT
      REQUIRED IN CONNECTION WITH SUCH PROPOSED
TRANSFER."

    

     

     

    Section
5.                      Miscellaneous.

     

        a)           No Rights as Shareholder Until
Exercise.  This Warrant does not entitle the Holder to any
voting rights or other rights as a shareholder of the Company prior to the
exercise hereof as set forth in Section 2.

     

        b)           Loss, Theft, Destruction or Mutilation of
Warrant. The Company covenants that upon receipt by the Company of
evidence reasonably satisfactory to it of the loss, theft, destruction or
mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security
reasonably satisfactory to it (which, in the case of the Warrant, shall not
include the posting of any bond), and upon surrender and cancellation of such
Warrant or stock certificate, if mutilated, the Company will make and deliver a
new Warrant or stock certificate of like tenor and dated as of such
cancellation, in lieu of such Warrant or stock certificate.

     

        c)           Saturdays, Sundays, Holidays,
etc.  If the last or appointed day for the taking of any action
or the expiration of any right required or granted herein shall not be a
Business Day, then such action may be taken or such right may be exercised on
the next succeeding Business Day.

     

        d)           Authorized Shares.  The
Company covenants that, during the period the Warrant is outstanding, it will
reserve from its authorized and unissued Common Stock a sufficient number of
shares to provide for the issuance of the Warrant Shares upon the exercise of
any purchase rights under this Warrant.  The Company further covenants
that its issuance of this Warrant shall constitute full authority to its
officers who are charged with the duty of executing stock certificates to
execute and issue the necessary certificates for the Warrant Shares upon the
exercise of the purchase rights under this Warrant.  The Company will
take all such reasonable action as may be necessary to assure that such Warrant
Shares may be issued as provided herein without violation of any applicable law
or regulation, or of any requirements of the Trading Market upon which the
Common Stock may be listed, if applicable. Before
taking any action which would result in an adjustment in the number of Warrant
Shares for which this Warrant is exercisable or in the Exercise Price, the
Company shall obtain all such authorizations or exemptions thereof, or consents
thereto, as may be necessary from any public regulatory body or bodies having
jurisdiction thereof.

     

        e)           Jurisdiction. The Company and the
Holder, by its acceptance hereof, hereby agree that any dispute which may arise
between them arising out of or in connection with this Warrant shall be
adjudicated before a court located in New York County, New York, and they hereby
submit to the exclusive jurisdiction of the federal and state courts of the
State of New York located in New York County with respect to any action or legal
proceeding commenced by any party, and irrevocably waive any objection they now
or hereafter may have respecting the venue of any such action or proceeding
brought in such a court or respecting the fact that such court is an
inconvenient forum, relating to or arising out of this Warrant or any acts or
omissions relating to the sale of the securities hereunder, and consent to the
service of process in any such action or legal proceeding by means of registered
or certified mail, return receipt requested, postage prepaid, in care of the
address set forth herein or such other address as either party shall furnish in
writing to the other..

     

        f)           Restrictions.  The Holder
acknowledges that the Warrant Shares acquired upon the exercise of this Warrant,
if not registered, will have restrictions upon resale imposed by state and
federal securities laws.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

        g)           Nonwaiver and Expenses.  No
course of dealing or any delay or failure to exercise any right hereunder on the
part of Holder shall operate as a waiver of such right or otherwise prejudice
Holder’s rights, powers or remedies, notwithstanding the fact that all rights
hereunder terminate on the Termination Date.  If the Company willfully
and knowingly fails to comply with any provision of this Warrant, which results
in any material damages to the Holder, the Company shall pay to Holder such
amounts as shall be sufficient to cover any costs and expenses including, but
not limited to, reasonable attorneys’ fees, including those of appellate
proceedings, incurred by Holder in collecting any amounts due pursuant hereto or
in otherwise enforcing any of its rights, powers or remedies
hereunder.

     

        h)           Notices.  Any notice
required or contemplated by this Warrant shall be deemed to have been duly given
if transmitted by registered or certified mail, return receipt requested,
postage prepaid, or nationally recognized overnight delivery service, to the
Company at its principal executive offices: 7658 Municipal Dr., Orlando, FL
32819 Attention: Mark Argenti, or to the Holder at the name and address set
forth in the Warrant Register maintained by the Company.

     

        i)           Limitation of Liability.  No
provision hereof, in the absence of any affirmative action by Holder to exercise
this Warrant to purchase Warrant Shares, and no enumeration herein of the rights
or privileges of Holder, shall give rise to any liability of Holder for the
purchase price of any Common Stock or as a stockholder of the Company, whether
such liability is asserted by the Company or by creditors of the
Company.

     

        j)           Remedies.  Holder, in
addition to being entitled to exercise all rights granted by law, including
recovery of damages, will be entitled to specific performance of its rights
under this Warrant.  The Company agrees that monetary damages would
not be adequate compensation for any loss incurred by reason of a breach by it
of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be
adequate.

     

        k)           Successors and
Assigns.  Subject to applicable securities laws, this Warrant
and the rights and obligations evidenced hereby shall inure to the benefit of
and be binding upon the successors of the Company and the successors and
permitted assigns of Holder.  The provisions of this Warrant are
intended to be for the benefit of all Holders from time to time of this Warrant
and shall be enforceable by any such Holder or holder of Warrant
Shares.

     

        l)           Amendment.  This Warrant may
be modified or amended or the provisions hereof waived only with the written
consent of the Company and the Holder.

     

        m)           Severability.  Wherever
possible, each provision of this Warrant shall be interpreted in such manner as
to be effective and valid under applicable law, but if any provision of this
Warrant shall be prohibited by or invalid under applicable law, such provision
shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provisions or the remaining provisions of
this Warrant.

     

        n)           Headings.  The headings used
in this Warrant are for the convenience of reference only and shall not, for any
purpose, be deemed a part of this Warrant.

    

    ********************

    

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its
officer thereunto duly authorized.

     

    
      
        	 	GEN2MEDIA CORPORATION	 
	 	 	 	 
	
                Dated:
      January 19, 2010

              	
                By:
      

              	/s/ 	 
	 	 	Name: Thomas
      Moreland	 
	 	 	Title:  Chief
      Financial Officer	 
	 	 	 	 

      

    

    

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    NOTICE
OF EXERCISE

    

    TO:           GEN2MEDIA
CORPORATION (THE “COMPANY”)

    

        (1)           The
undersigned hereby elects to purchase ________ Warrant Shares of the Company
pursuant to the terms of the attached Warrant, and tenders herewith payment of
the exercise price in full, together with all applicable transfer taxes, if
any.

     

        (2)           Payment
will be made in lawful money of the United States.

     

        (3)           Please
issue a certificate or certificates representing said Warrant Shares in the name
of the undersigned or in such other name as is specified below:

     

    _______________________________

    

    

    The
Warrant Shares shall be delivered to the following DWAC Account Number or by
physical delivery of a certificate to:

    

    _______________________________

    

    _______________________________

    

    _______________________________

    

        (4)  Accredited
Investor.  The undersigned certifies that it is an “accredited
investor” as defined in Regulation D promulgated under the Securities Act of
1933, as amended.

    

    [SIGNATURE
OF HOLDER]

     

    

     

    
      	Name of Investing
      Entity:	 	 
	 	 	 
	Signature of
      Authorized Signatory of Investing Entity:	 	 
	 	 	 
	Name of Authorized
      Signatory:	 	 
	 	 	 
	Title of Authorized
      Signatory:	 	 
	 	 	 
	Date:	 	 

    

     

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

     

    ASSIGNMENT
FORM

    

    (To
assign the foregoing warrant, execute

    this form
and supply required information.

    Do not
use this form to exercise the warrant.)

    

    

    

    FOR VALUE
RECEIVED, _________ shares of the foregoing Warrant and all rights evidenced
thereby are hereby assigned to _________________________________whose address is
____________________________________________________________________________________________________________________________.

    

    Dated:  ______________,
_______

    

    

    Holder’s
Signature:                                _____________________________

    

    Holder’s
Address:                                
_____________________________

     

                     _____________________________

    

    

    Signature
Guaranteed:  ___________________________________________

    

    

    NOTE:  The
signature to this Assignment Form must correspond with the name as it appears on
the face of the Warrant, without alteration or enlargement or any change
whatsoever, and must be guaranteed by a bank or trust
company.  Officers of corporations and those acting in a fiduciary or
other representative capacity should file proper evidence of authority to assign
the foregoing Warrant.

    

     

     

    9

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