Document:

Unassociated Document

    Exhibit
10.20

     

    THIS AGREEMENT  (this
Agreement) is dated as of June 17, 2008, among Sahara Media, Inc. a Delaware
corporation (the “Company”) and  SE, LLC (the
“Investor”).

    

    WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to
Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”),
and Rule 506 promulgated thereunder, the Company desires to issue to the
Investor securities of the Company as more fully described in this
Agreement;

    

    WHEREAS, the Investor has a Promissory
Note and Interest outstanding of Four Hundred Sixty Two Thousand Four Hundred
Ninety Two Dollars ($462,492) (“Note”), and a Revolving Credit Line of Four
Hundred Thousand Thirty Four Thousand One Hundred Thirty Dollars ($434,130)
(“Credit Line”), as well as Four Hundred Six Thousand ($406,000) Subscription
Liability. The amount of the Note, Interest Due and Credit Line and Subscription
Liability is herein referred to as the “Debt”.

    

    WHEREAS, the Company also owes the
investor Four Hundred Twenty Seven Thousand Nine Hundred Thirteen ($427,913) for
expenses incurred on by Investor on behalf of the Company (the
“Expenses”).

    

    WHEREAS,
the Investor has agreed to forego payment of the Debt and Expenses in exchange
for the Company’s issuing the Investor Thirteen Million Three Hundred Sixty
Three Thousand (13,363,390) Shares of the Company’s common stock (the
“Shares”).

    

    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 the Investor agree as follows:

    

    Section
1                      Issuance
of Shares.  In consideration for the Investor’s foregoing the
payment of the Debt and the Expenses the Company shall within thirty business
days of the date hereof issue the Investor Thirteen Million Three Hundred Sixty
Three Thousand Three Hundred Ninety (13,363,390) Shares of the Company’s common
stock (the “Shares”).  Within one day of the date hereof the Investor
shall deliver to the Company the originally signed promissory note which
nevertheless is deemed to be canceled as of the dater hereof.

    

    Section
2                      Satisfaction
In consideration for the Company’s issuance of the Shares, the Investor
hereby foregoes payment of the Debt and Expenses, which  is hereby
deemed paid in full and satisfied and hereby releases the Company from its
obligation to pay Investor the Debt and Expenses. .

    

    Section
3                      Authorization
of the Company.  The Company has the requisite corporate power
and authority to enter into and to consummate the transactions contemplated by
this Agreement  and otherwise to carry out its obligations hereunder
and thereunder.  The execution and delivery of this Agreement has been
authorized by all necessary action on the part of the Company and no further
action is required by the Company, its board of directors or its stockholders in
connection therewith.

    

    Section
4                      Representations
and Warranties of the Investor. Investor hereby, for itself and no other
person, represents and  warrants as of the date hereof to the Company
as follows:

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    (a) Investor
understands that the Shares are restricted securities and have not been
registered under the Securities Act or any applicable state securities law and
is acquiring the Shares as principal for its own account and not with a view to
or for distributing or reselling such Shares or any part thereof in violation of
the Securities Act or any applicable state securities law, has no present
intention of distributing any of such Shares in violation of the Securities Act
or any applicable state securities law and has no arrangement or understanding
with any other Persons regarding the distribution of such Shares (this
representation and warranty not limiting such Investor’s right to sell the
Shares pursuant to an effective registration statement or otherwise in
compliance with applicable federal and state securities laws) in violation of
the Securities Act or any applicable state securities law. Such Investor is
acquiring the Shares hereunder in the ordinary course of its
business.  Such Purchaser does not have any agreement or
understanding, directly or indirectly, with any Person to distribute any of the
Shares.  As used herein, “Person” shall mean an individual, a limited
liability company, a partnership, a joint venture, a corporation, a trust, an
unincorporated organization, any other entity or a government or any department
or agency thereof.

     

    (b) Purchaser
Status.  At the time such Investor was offered the Shares, it
was, and at the date hereof it is (i) an “accredited investor” as defined in
Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act. Such
Purchaser is not required to be registered as a broker-dealer under Section 15
of the Exchange Act.

     

    (c) Experience of
Investor.  Such Investor, either alone or together with its
representatives, has such knowledge, sophistication and experience in business
and financial matters so as to be capable of evaluating the merits and risks of
the prospective investment in the Shares, and has so evaluated the merits and
risks of such investment.  Such Investor is able to bear the economic
risk of an investment in the Shares and, at the present time, is able to afford
a complete loss of such investment.

     

    (d) General
Solicitation.  Such Investor is not purchasing the Shares as a
result of any advertisement, article, notice or other communication regarding
the Shares published in any newspaper, magazine or similar media or broadcast
over television or radio or presented at any seminar or any other general
solicitation or general advertisement.

     

    
      
         

      

      
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    (e) Exemption from Registration
Such Investor understands that the Shares are being, issued offered and
sold to it in reliance on specific exemptions from the registration requirements
of United States federal and state securities laws and that they Company is
relying in part upon the truth and accuracy of, and such Investor’s compliance
with, the representations, warranties, agreements, acknowledgements and
understandings of such Investor set forth herein in order to determine the
availability of such exemptions and the eligibility of such Investor to
acquire the Shares.

     

    (f) No Governmental
Review.  Such Investor understands that no United States,
federal or state agency or any other government or governmental agency has
passed on or made any recommendation or endorsement of the Shares or the
fairness or suitability of the investment in the Shares nor have such
authorities passed upon or endorsed the merits of the offering of the
Shares.

     

    (g) Adequacy of
Consideration   Investor herby acknowledges that adequacy of
the consideration it is receiving pursuant to this Agreement in relation its
obligations pursuant to this Agreement.

     

    (h) Transfer
Restrictions.   The Shares may only be disposed of in
compliance with state and federal securities laws. In connection with any
transfer of the Securities other than pursuant to an effective registration
statement or Rule 144 promulgated under the Securities Act, the Company may
require the transferor thereof to provide to the Company an opinion of counsel
selected by the transferor and reasonably acceptable to the Company, the form
and substance of which opinion shall be reasonably satisfactory to the Company,
to the effect that such transfer does not require registration of such
transferred Securities under the Securities Act.  As a condition of
such transfer, any such transferee shall agree in writing to be bound by the
terms of this Agreement and shall have the rights of a Purchaser under this
Agreement.  The Shares may only be disposed of in compliance with
state and federal securities laws. In connection with any transfer of the Shares
other than pursuant to an effective registration statement or Rule 144, or in
connection with a pledge as contemplated in this Shares, the Company may require
the transferor thereof to provide to the Company an opinion of counsel selected
by the transferor and reasonably acceptable to the Company, the form and
substance of which opinion shall be reasonably satisfactory to the Company, to
the effect that such transfer does not require registration of such transferred
Securities under the Securities Act.  As a condition of such transfer,
any such transferee shall agree in writing to be bound by the terms of this
Agreement and shall have the rights of a Purchaser under this
Agreement.

     

    
      
         

      

      
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    (i) Legend The Shares
will be imprinted so long as is required by this Section  of a legend
on any of the Shares in the following form:

     

    THESE
SECURITIES HAVE NOT 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. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL
INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE
SECURITIES ACT.

     

    Section
5                Release. Investor on behalf of
Investor’s agents, heirs and assigns jointly and severally (the
“Investor  Releasing Parties”) unconditionally and irrevocably release
and forever discharge the Company  and its successors, assigns,
shareholders, agents, directors, officers, employees, and attorneys,
(collectively, the "Indemnitees") from all Investor Claims, as defined below,
and jointly and severally agree to indemnify Indemnitees, and hold them harmless
from any and all claims, losses, causes of action, costs and expenses of every
kind or character in connection with the Investor Claims.  As used in
this Agreement, the term "Investor Claims" shall mean any and all possible
claims, demands, actions, costs, expenses and liabilities whatsoever, known or
unknown, at law or in equity, originating in whole or in part, on or before the
date of this Agreement, which the Investor Releasing Parties any of their
officers, directors, shareholders agents or employees, may now or hereafter have
against the Indemnitees, if any, and irrespective of whether any such Investor
Claims arise out of contract, tort, violation of laws, or
regulations.  Notwithstanding the foregoing, this release shall not
release any obligation of the Company created by this Agreement.

    

    MISCELLANEOUS

    

    Section
6                Entire
Agreement.  This Agreement contains the entire understanding of
the parties with respect to the subject matter hereof and supersede all prior
agreements and understandings, oral or written, with respect to such matters,
which the parties acknowledge have been merged into such documents, exhibits and
schedules.

     

    
      
         

      

      
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    Section
7              
 Notices.  Any
and all notices or other communications or deliveries required or permitted to
be provided hereunder shall be in writing and shall be deemed given and
effective on the earliest of (a) the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number set forth on
the signature pages attached hereto prior to 5:30 p.m. (Eastern Time) on a
Business Day, (b) the next Business Day after the date of transmission, if
such notice or communication is delivered via facsimile at the facsimile number
set forth on the signature pages attached hereto on a day that is not a Business
Day or later than 5:30 p.m. (Eastern Time) on any Business Day, (c) the 2nd
Business Day following the date of mailing, if sent by U.S. nationally
recognized overnight courier service, or (d) upon actual receipt by the party to
whom such notice is required to be given.  The address for such
notices and communications shall be as set forth on the signature pages attached
hereto until changed by notice given in accordance with this
Section.  As used herein, “Business Day” shall mean any day other than
Saturday, Sunday or other day on which commercial banks in the City of New York
are authorized or required by law to remain closed.

     

    Section
8               
Amendments;
Waivers.  No provision of this Agreement may be waived or
amended except in a written instrument signed, in the case of an amendment, by
the Company and the Investor or, in the case of a waiver against any other
party, by the party against whom enforcement of any such waiver is
sought.  No waiver of any default with respect to any provision,
condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any
other provision, condition or requirement hereof, nor shall any delay or
omission of either party to exercise any right hereunder in any manner impair
the exercise of any such right.

     

    Section
9                Headings.  The
headings herein are for convenience only, do not constitute a part of this
Agreement and shall not be deemed to limit or affect any of the provisions
hereof. The language used in this Agreement will be deemed to be the language
chosen by the parties to express their mutual intent, and no rules of strict
construction will be applied against any party.

     

    Section
10             Successors
and Assigns.  This Agreement shall be binding upon and inure to
the benefit of the parties and their successors and permitted
assigns.  The parties may not assign this Agreement or any rights or
obligations hereunder without the prior written consent of the other
party.  

     

    Section
11             No
Third-Party Beneficiaries. This Agreement is intended for the benefit of
the parties hereto and their respective successors and permitted assigns and is
not for the benefit of, nor may any provision hereof be enforced by, any other
person, except as otherwise set forth herein.

     

    
      
         

      

      
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    Section
12            Governing
Law. All questions concerning the construction, validity, enforcement and
interpretation of this Agreement or the transaction contemplated thereby shall
be governed by and construed and enforced in accordance with the internal laws
of the State of New York, without regard to the principles of choice of law and
conflicts of law thereof.  Each party agrees that all legal
proceedings concerning the interpretations, enforcement and defense of the
transactions contemplated by this Agreement (whether brought against a party
hereto or its respective affiliates, directors, officers, stockholders,
employees or agents) shall be commenced exclusively in the state and federal
courts sitting in the City of New York.  Each party hereto hereby
irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in the City of New York, borough of Manhattan for the
adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein (including with respect to
the enforcement of any this Agreement, 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 has been commenced in an improper or inconvenient venue for such
proceeding.  Each party hereto 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 via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for 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.  Each party hereto hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to
trial by jury in any legal proceeding arising out of or relating to this
Agreement or the transactions contemplated hereby.  If either party
shall commence an action or proceeding to enforce any provisions of this
Agreement  then the prevailing party in such action or proceeding
shall be reimbursed by the other party for its reasonable attorneys’ fees and
other costs and expenses incurred with the investigation, preparation and
prosecution of such action or proceeding.

     

    Section
13              Survival.  The
representations, warranties, agreements and covenants contained herein shall
survive the delivery of the Shares.

     

    Section
14              Execution.  This
Agreement may be executed in two or more counterparts, all of which when taken
together shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the
other party, it being understood that both parties need not sign the same
counterpart.  In the event that any signature is delivered by
electronic or facsimile transmission, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such signature page were an
original thereof.

     

    Section
15             Severability.  If
any provision of this Agreement is held to be invalid or unenforceable in any
respect, the validity and enforceability of the remaining terms and provisions
of this Agreement shall not in any way be affected or will attempt to agree upon
a valid and enforceable provision that is a reasonable substitute therefor, and
upon so agreeing, shall incorporate such substitute provision in this
Agreement.

     

    
      
         

      

      
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    Section
16             Remedies.  In
addition to being entitled to exercise all rights provided herein or granted by
law, including recovery of damages, each of the  Investor and the
Company will be entitled to specific performance under this
Agreement.  The parties agree that monetary damages may not be
adequate compensation for any loss incurred by reason of any breach of
obligations described in the foregoing sentence and hereby agrees to waive in
any action for specific performance of any such obligation the defense that a
remedy at law would be adequate.

     

    Section
17             Payment
Set Aside.  To the extent that the Company makes a payment or
payments to the Investor pursuant to this Agreement or an Investor enforces or
exercises its rights thereunder, and such payment or payments or the proceeds of
such enforcement or exercise or any part thereof are subsequently invalidated,
declared to be fraudulent or preferential, set aside, recovered from, disgorged
by or are required to be refunded, repaid or otherwise restored to the Company,
a trustee, receiver or any other person under any law (including, without
limitation, any bankruptcy law, state or federal law, common law or equitable
cause of action), then to the extent of any such restoration the obligation or
part thereof originally intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been made or such
enforcement or setoff had not occurred.

     

    Section
18             Construction.  The
parties agree that each of them and/or their respective counsel has reviewed and
had an opportunity to revise this Agreement the normal rule of construction to
the effect that any ambiguities are to be resolved against the drafting party
shall not be employed in the interpretation of the this Agreement or any
amendments hereto.

     

    The
parties hereto have executed this Agreement as of the date and year first above
written

     

    
      
        	 	 	SAHARA
      MEDIA INC.	 
	 	 	 	 
	 	
                By:

              	/s/ Philmore
      Anderson IV	 
	 	 	 	 
	 	 	 	 
	 	 	INVESTOR	 
	 	 	 	 
	 	 	SE,
      LLC	 
	 	 	      
                By:
      /s/ Philmore Anderson IV

              	 

      

    

    

     

    
      
         

      

      
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    ALL
INVESTORS  MUST INITIAL ONE OR MORE OF THE FOLLOWING:

    

    

    1.           I
certify that I am an accredited investor because (i) I had individual income
(exclusive of any attributable to my spouse) or more than $200,000 in each of
the most recent two years and I reasonably expect to have an individual income
in excess of $200,000 for the current year, or (ii) I, together with my spouse,
had joint income in excess of $300,000 in each of the two most recent years and
reasonably expect to have joint income in excess of $300,000 for the current
year.

    INITIAL
IF APPLICABLE: ________________

    

    2.           I
certify that I am an accredited investor because I have an individual net worth,
or my spouse and I have a joint net worth, in excess of
$1,000,000.  For purposes of this questionnaire, “net worth” means the
excess of total assets at market value, including home and personal property,
over total liabilities.

    INITIAL
IF APPLICABLE: ________________

    

    ­­­­­­­­­­­­­­_________________________________                                                                   ______________________________

    Signature
of
Investor                                                                                                          State
of Residency

    

    _________________________________                                                                   ______________________________

    Name of
Investor
(print)                                                                                                     Date

    

    Address:  __________________________________

    __________________________________________

    __________________________________________

    __________________________________________

    __________________________________________

     

     

    
8Unassociated Document

    Exhibit
10.21

     

    MASTER
SERVICES AGREEMENT - Confidential

     

     

    This
Master Services Agreement and attached Schedules (collectively, the "Agreement")
is entered into on this 11th day
of  July, 2008 (the
"Effective Date") between Ripple6, Inc., with a principal place of business at
322 Eighth Avenue, New York, NY 10001 ("Ripple6") and Sahara Media, Inc.,
with a principal place of business at 75 Franklin St, NY, NY 10013("Client")
(each, a
"Party" and, collectively, the "Parties").

     

    WHEREAS,
Ripple6 owns the Ripple6 Platform (as defined below); and

     

    WHERF.AS,
Client operates the Client Site (defined below);

     

    WHEREAS,
Client has requested that Ripple6 customize and host the Site (defined below);
and

     

    WHEREAS,
Ripple6 has agreed to provide such services on the terms and conditions set
forth herein.

     

    NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter
set forth, and other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, the Parties hereto, intending to be legally
bound hereby, do hereby agree as follows:

     

    1. DEFINITIONS.As
used in this Agreement, the following terms have the respective meanings
set forth below:

     

    "Confidential
Information" means all information exchanged by one Party to the other
Party under this Agreement. For the avoidance of doubt, Confidential Information
of Ripple6 includes, but is not limited to, all Ripple6 Intellectual
Property.

     

    "Database" means an electronic database
consisting of data provided by users of the Site and actions related to such
users' use of the Site.

     

    "Development Fees"
has the meaning set forth in Section 3.1

     

    "Development
Services" has the meaning set forth in Section 2.1.

     

    "Fees" means the Development Fees, the Hosting
Fees and the Maintenance and Support Fees. 

     

    "Ongoing Services
Fees" has the meaning set forth in Section 3.2.

     

    "Ongoing Services"
has the meaning set forth in Section 2.2.

     

    "Initial Term"
has the meaning set forth in section 10.1.

     

    "Intellectual
Property Rights" means all intellectual and industrial property rights,
including, without limitation, copyrights, mask work rights, moral rights, trade
secrets, patent rights, rights in inventions, trademarks, trade names, and
service marks (including applications for, and registrations, extensions,
renewals, and re-issuance of the foregoing).

     

    "Maintenance and
Support Fees" has the meaning set forth in Section 3.3. 

     

    "Maintenance and
Support Services" has the meaning set forth in
Section 2.3. 

     

    "Renewal Term"
has the meaning set forth in Section WA.

     

    "Ripple6
Intellectual Property" has the meaning set forth in Section
5.1.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    "Sahara Media Intellectual Property"
has the meaning set forth in Section
5.4.

     

    "Ripple6 Platform" means
certain proprietary technology and software
(object code and
source
code) and tools
owned by Ripple6, including enhancements, modifications, improvements and
derivative works thereof, and related methodologies, processes, know-how and all
Intellectual Property in and to the foregoing, and all derivative works and
improvements thereto.

     

    "Site" means
(_____).

     

    "Services"
means the Development Services, the Ongoing Services, the Maintenance and
Support Services, and any other services provided under this
Agreement.

     

    "Term" means the Initial Term and all
Renewal Terms.

     

    "Work Product" means
all work product developed by or on behalf of Ripple6 as a result of the
Services, all Intellectual Property Rights in
and to such work product, and all derivative works and improvements I
hereto.

     

    2.            SERVICES.

     

    2.1         
 Ripple6 will develop arid customize the Site in accordance with the
specifications set forth on Schedule
1
attached hereto (the "Development
Services"). The Site shall include "Powered by Ripple6" branding and
the
Mark in the size and position of the branding and logo referred to in
Schedule
1.
During the Term, the Parties may agree in writing from time to time to
have Ripple6 provide development services
in addition to those set forth on Schedule
1 for an additional cost.

     

    2.2          
Ripple6 shall host and manage the Site for Client and shall provide additional
ongoing services Ihr the Site
including, without limitation, Ripple analytics, account management and
site enhancements, all in accordance with Schedule
2 attached hereto (the "Ongoing
Services").

     

    2.3         
  Ripple6 shall provide Client with maintenance and support services
in accordance with Schedule 3
attached hereto (the "Maintenance and Support
Services").

     

    3.            FEES AND
PAYMENT

     

    3.1           In
consideration for the Development Services, Client shall pay Ripple6 the fees
set forth in Schedule
1  (the
"Development
Fees").

     

    3.2           in consideration for the Hosting Services,
Client shall pay Ripple6 the fees set forth in Schedule
2 (the
"Ongoing Services
Fees").

     

    3.3           In consideration for the Support and
Maintenance and Support Services, Client shall pay
Ripple6 the fees
set forth
in Schedule 3 (the
"Maintenance and Support
Fees").

     

    3.4           Unless otherwise set forth in the
applicable Schedule, the Fees shall he due within thirty (30) days of the date of invoice. Past due amounts shall bear interest at the rate of one percent (1 %) per month.

     

    4.           ADVERTISING
AND REVENUE SHARE. During
the Term, the Parties may, from time to
time, agree to conduct
certain
marketing programs based on the Ripple6 Platform. For each such marketing program, the Parties shall
agree in
writing to the applicable revenue share.

    
      
         

      

      
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    5.            INTELLECTUAL
PROPERTY

     

    5.1         
As between the Parties, Rippled owns all right, title and interest in and to the
Work Product, the Rippled Platform and the Mark (collectively, the "Ripple6 Intellectual Property").
Client shall have no right to use the Rippled Intellectual Property for
any purpose other than as expressly provided in this Agreement.

     

    5.2           Client
hereby grants to Rippled a nonexclusive, nontransferable, personal license to
use the Rippled
Intellectual Property solely in connection with the Site.

     

    5.3           Client
shall own all right, title and interest in and to the Database and all data
contained therein. Client hereby grants Rippled a non-exclusive, royalty-free,
fully paid up license to (i) use the Database and all data contained therein as
necessary to provide the Services, (ii) aggregate the data contained in the
Database (the "Aggregate Data"), share such Aggregate Data in a non-personally
identifiable manner to third parties. All Non-Aggregated Data and Data which may
contain personally-identifiable information is for Internal Use only and is
limited to the services contemplated herein.

     

    5.4           As
between the Parties, Sahara Media owns all right, title and interest in and to
all trademarks, service marks, logos and brands related to Honey, Honey
Magazine, The Hive and other Sahara Media properties (collectively, the "Sahara
Media Intellectual Property"). Ripple 6 shall have no right to use the Sahara
Media Intellectual Property for any purpose other than as expressly provided in
this Agreement.

     

    5.5           Rippled
hereby grants Client a non-exclusive, non-transferrable right to use the Rippled
brand name and
Mark for marketing purposes to strategic partners.

     

    6.            REPRESENTATIONS AND
WARRANTIES.

     

    6.1          Each
Party represents and warrants that (i) it is duly authorized to execute and
perform its obligations under this Agreement; (ii) this Agreement is a valid and
binding agreement enforceable against it according to its terms; (iii) the
execution and performance of this Agreement does not, and will not, violate or
conflict with the terms of any existing agreement or understanding to which it
is a Party, including, but not limited to, any non-disclosure, non-compctc or
other similar obligations to any other person or entity; and (iv) the execution
and performance of this Agreement does not, and will not, violate or conflict
with any law, rule, regulation, judgment or order of any court or other
adjudicative entity binding on it.

     

    6.2           Rippled
represents and warrants that the Services provided under this Agreement shall be
performed
by qualified individuals, in a professional and workmanlike manner.

     

    6.3          
EXCEPT AS EXPRESSLY PROVIDED HEREIN, RIPPLE6 MAKES NO REPRESENTATIONS OR
WARRANTIES WITH RESPECT TO THIS AGREEMENT OR THE SERVICES, AND ALL IMPLIED
REPRESENTATIONS AND WARRANTIES ARE EXPRESSLY DISCLAIMED, INCLUDING, WITHOUT
LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND
NON-INFRINGEMENT.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    7.            CONFIDENTIALITY.

     

    7.1        
 Each Party shall maintain the Confidential Information of the other Party
in strict confidence, taking the same precautions that it uses to protect its
own Confidential Information, but in no event less than reasonable care to
prevent the unauthorized disclosure of any part of the Confidential
Information.

     

    7.2         
In the event the receiving Party becomes or may become legally compelled to
disclose any Confidential Information (whether by deposition, interrogatory,
request for documents, subpoena, civil investigative demand or other process or
otherwise), the receiving Party shall provide the disclosing Party with prompt
written notice of such requirement so that the disclosing Party may seek a
protective order or other appropriate remedy and/or waive compliance with the
terms of this Section
7. lii
the event that such protective order or other remedy is not obtained, or that
the disclosing Party waives compliance with the provisions hereof, the receiving
Party shall furnish only that portion of Confidential Information which it is
legally required to disclose, and shall use its best efforts to insure that
confidential treatment shall be afforded such disclosed portion of Confidential
Information.

     

    7.3          
The receiving Party acknowledges that in the event of a breach of the provisions
of this Section
7  by the receiving Party, substantial injury could result to
the disclosing Party and money damages will not be a sufficient remedy for such
breach. Therefore, in the event that the receiving Party engages in, or
threatens to engage in, any act which violates any provision of this Section 7, the
disclosing Party shall be entitled to, in addition to all other remedies which
may be available to it under law, seek injunctive relief (including, without
limitation, temporary restraining orders, or preliminary or permanent
injunctions) and specific enforcement of the terms of this Section 7. The disclosing
Party shall not be required to post a bond or other security in connection with
the granting of any such relief.

     

    7.4          
Upon the expiration or earlier termination of this Agreement, or at any time
upon the receiving Party's request, the receiving Party shall return to the
disclosing Party all Confidential Information in its possession.

     

    8.          
  INDEMNIFICATION.
Ripple6 shall indemnify, defend and hold harmless Client from and against
any claim, suit or proceeding brought by a third party against Client to the
extent that it is based on or arises from any assertion that any Work Product
infringes or misappropriates any Intellectual Property Right of any third party,
provided that (I) Client promptly notifies Ripple6 in writing of any claim, suit
or proceeding, (ii) Client fully cooperates with Ripple6 with regard to the
defense of any claim, suit or proceeding, and (iii) such claim, suit or
proceeding does not arise as a result of any specifications or instructions
provided by Client to Ripple6 . Ripple6 shall have full control of any such
claim, suit or proceeding and the authority to settle or otherwise dispose of
any such claim, suit of proceeding.

     

    9.             LIMITATION
OF LIABILITY. 1N NO EVENT SHALL R1PPLE6 BE LIABLE FOR ANY SPECIAL,
INDIRECT, INCIDENTAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES (INCLUDING,
BUT NOT LIMITED TO, LOST PROF/TS, BUSINESS INTERRUPTION, LOSS OF BUSINESS
REPUTATION OR GOODWILL, OR COSTS OF SUBSTITUTE SERVICES) WHICH THE CLIENT OR ANY
OTHER PERSON OR ENTITY MAY INCUR OR EXPERIENCE DIRECTLY OR INDIRECTLY ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR THE SERVICES, EVEN IF RIPPLES HAS BEEN
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. NOTWITHSTANDING ANY OTHER PROVISION
OF THIS AGREEMENT, THE AGGREGATE LIABILITY OF RIPPLE 6 FOR DAMAGES FOR ANY CAUSE
WHATSOEVER, DIRECTLY OR INDIRECTLY RELATING TO OR ARISING OUT OF THIS AGREEMENT
OR THE SERVICES, AND REGARDLESS OF THE FORM OF ACTION, SHALL NOT EXCEED THE
TOTAL FEES PAID BY CLIENT TO RIPPLED UNDER THIS AGREEMENT DURING THE TWF.I NE
(12) MONTHS IMMEDIATELY PRECEDING SUCH CLAIM. THIS LIMITATION OF LIABILITY SHALL
NOT BE ENFORCEABLE IN THE EVENT THAT LIABILITY, LOSS, DAMAGE, DELAY OR OTHER
INJURY OCCURS DUE TO GROSS NEGLIGENCE BY RIPPLE6, ITS EMPLOYEES OR
AGENTS.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    10.           TERM AND
TERMINATION

     

    10.1       
 The term of this Agreement is one (1) year, commencing on the Effective
Date (the "Initial Term"). Upon expiration of the
Initial Term, this Agreement shall automatically renew for consecutive one (1)
year terms (each, a "Renewal
Term") unless either Party provides the other Party with written notice
of its intention not to renew this Agreement within sixty (60) days prior to the
expiration of the then current term.

     

    10.2          In
the event of a default, the non-defaulting Party may terminate this Agreement
upon the defaulting Party's failure to cure such default within thirty (30) days
of written notice of such default. An event of default shall include, but is not
limited to, the following events: (i) Client's failure to pay any sum of money
due by it hereunder; (ii) breach by a Party in performing any of its other
material obligations hereunder; or (iii) a Party becomes the subject of any
bankruptcy, insolvency, or reorganization proceeding, or generally seeks relief
from its debts, or becomes or is declared, by any court of competent
jurisdiction, to be insolvent.

     

    10.3       
 Except as expressly provided herein, all rights granted by the Parties
shall cease upon the expiration or earlier termination of this Agreement.
Sections 1, 5, 6, 7, 8, 9, this Section 10.3 and Section 11 shall survive the
expiration or earlier termination of this Agreement.

     

    11.           MISCELLANEOUS

     

    11.1         The
Parties expressly understand and agree that each Party is an independent
contractor in the performance of each and every part of this Agreement, and is
solely responsible for all of its employees and agents and its labor costs and
expenses arising in connection therewith. Neither Party nor its agents or
employees are the representatives of the other Party for any purpose, and
neither Party has the power or authority as agent, employee or any other
capacity to represent, act for, hind or otherwise create or assume any
obligation on behalf of the other Party for any purpose whatsoever.

     

    11.2       
 All notices, requests, demands, waivers and other communications required
or permitted to be given under this Agreement shall be in writing and shall be
delivered by hand, by overnight courier, by fax with confirming letter mailed
under the conditions described herein, or by registered or certified mail,
postage prepaid, return receipt requested, to the address of the other Party
first set forth above. Notice so given shall be deemed effective when received.
Copies of all notices sent to Ripple6 shall he sent to Lowenstein Sandler PC, 65
Livingston Avenue, Roseland, New Jersey, Attention: Anthony Pergola,
Esq.

     

    11.3        
This Agreement may not be assigned by either Party without the prior written
consent of the other, such consent is not to be unreasonable held or delayed and
any attempt to assign any rights, duties or obligations which arise under this
Agreement without such consent shall be null and void. Notwithstanding the
foregoing, Ripple6 may assign this Agreement to any person or entity acquiring
all or substantially all of its assets or which is a successor by merger to
Ripple6. This Agreement will be binding
upon and will inure to the benefit of the Parties and their respective permitted
successors and assignees.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    11.4     
   This Agreement, and all matters arising directly or indirectly from
this Agreement, shall be governed by and construed in accordance with the laws
of the State of New York, without regard to its conflict of laws rules
applicable to contracts to be performed entirely within the State of New York.
For all such matters, each Party submits to the exclusive jurisdiction of the
state and federal courts located in the State of New York and waives any
jurisdictional, venue, or inconvenient forum objections to such
courts.

     

    11.5  
      Neither Party shall be liable for any
failure or delay in the performance of any of its obligations (other than the
payment of fees) if prevented from doing so by fire, flood, terrorism, strike,
war, restraints of government, utility or communications failure or
interruption, failure of third party vendor, Internet slow-down or failure,
computer hacker or any other cause beyond the affected Party's reasonable
control, provided that the affected Party has not contributed in any way to such
event.

     

    11.6        
If any provision of this Agreement shall be held to be illegal, invalid or
unenforceable, such illegality, invalidity or unenforceability shall apply only
to such provision and shall not in any manner affect or render illegal, invalid
or unenforceable any other provision of this Agreement, and that provision and
this Agreement generally shall be reformed, construed and enforced so as to most
nearly give lawful effect to the intent of the Parties as expressed in this
Agreement.

     

    11.7         This
Agreement may be executed in counterparts, each of which shall be deemed an
original, but hich
together shall constitute one and the same instrument.

     

    11.8         The
headings preceding the various paragraphs and subparagraphs of this Agreement
are intended solely for the convenience of the Parties and shall not be deemed
relevant in the construction of this Agreement or its terms.

     

    11.9       
 This Agreement constitutes the entire agreement of the Parties with
respect to the subject matter hereof and supersedes any and all existing
agreements relating to the subject matter hereof. Neither this Agreement nor any
provision hereof may be modified or amended except by written agreement signed
by both Parties.

     

    IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed on their
behalf by their duly authorized officers as of the Effective Date.

     

    
      
        	Ripple6,
      Inc.	 	 	CLIENT	 
	 	 	 	 	 	 	 
	By: 	
                /s/
      Peter G. Saridakis

              	 	 	By:	
                /s/
      Philmore Anderson IV

              	 
	 	 	 	 	 	 	 
	Name:	Peter
      G. Saridakis	 	 	      
                Name:

              	Philmore
      Anderson IV	 
	 	 	 	 	 	 	 
	Title:	
                VP
      Strategic Sales

              	 	 	Title:	
                CEO/President

              	 

      

    

    
 

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

     

     

    SCHEDULE
1

     

    Development Services;
Development Fees

     

    (attach
Product Requirements Document (PRD), Functional Specifications or equivalent)

    (R6 to
provide upfront dev fee based on evaluation of PRD)

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    SCHEDULE
2

     

    Ongoing Services:
Ongoing
Services
Fees

     

    
      	
              ●

            	      
              Hosting
      of the Site

            

    

    
      	
              ●

            	      
              Account
      management:

            

    

    
      	
              o

            	
               Train
      Client team on Platform functionality, CMS capabilities and Ripple
      Analytics

            

    

    
      	
              o

            	
               Monthly
      analysis of Site behavior based on Ripple
  Analytics

            

    

    
      	
              o

            	
               Provide
      recommendations to encourage community usage/growth
      (ongoing)

            

    

    
      	
              ●

            	      
              Front-line
      technical support for inbound member questions on functionality
      (optional)

            

    

    
      	
              o

            	
               For
      example, password recovery or change of
username

            

    

    
      	
              ●

            	      
              Access
      to product enhancements made to the Ripple6 Platform at no additional cost
      provided the enabling of
      such functionality does not require any site layout or redesign
      changes

            

    

    
      	
              ●

            	      
                    
                Ripple
      Analytics

              

            

    

     

    Ongoing Service Fees:

     

    Monthly
minimum: $5,000

     

    Up
to 5MM
pageviews:              $5,000

    5MM to
10MM
pageviews:       $9,500

    10MM to
20MM pageviews:     $17,500

     

    
 

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    SCHEDULE
3

     

    Maintenance and Support
Services; Maintenance and Support Fees

     

    [support
fees will exist should Client require dedicated development staff or have
specific support needs above and beyond the standard agreement; otherwise, no
additional support fees]

     

    1.           AVAILABILITY AND
DOWNTIME

     

    The Site
will be Available for 99.9% of the Maximum Available Time per calendar month,
based on the following calculation (calculated in minutes), 99.9% of the time
on a monthly basis:

     

    (1 —
(Total Downtime / Maximum Available Time) x 100) "Available" means that the Site
is not available for use.

    "Maximum Available Time" means
the total number of minutes in a given calendar month less minutes allocated to
Scheduled Maintenance, if
any. The formula for this is:

     

    (number
of days in month X 1440 minutes per day) — (number of scheduled maintenance
minutes in month) = Maximum Available Time

     

    "Monitoring Service" means a
third party monitoring service retained by Ripple6 that will monitor Total
DownTime [and Response Time] with at least three (3) geographically diverse
locations using a sampling frequency of five (5) minutes or less.

     

    "Site"
means [insert URL]

     

    "Total
Downtime"
means the total number of minutes in a given calendar month that the Site
is not Available.

     

    2.           COMMUNICATION PROTOCOL AND
ESCALATION PLAN

     

    Client is
responsible for communicating with users of the Site directly, and for providing
Tier I support directly to such users. Client shall contact Ripple6 via e-mail
at [insert
email address] and via telephone at
[insert
telephone number) to request Tier 2 support for service level incidents
shown in the table set forth in Section 3 (each, an "Incident," and
collectively, the "Incidents"). Client's request for support regarding an
Incident will include a detailed description of the incident and steps required
to reproduce the Incident.

     

    Ripple6
will assign each Incident a severity level in consultation with Client. An
incident tracking number, description and level for each Incident will be
communicated to Client by Ripple6 via e-mail notification. Client will have the
ability to check on the status of an Incident either via an online portal page
provided by Ripple6 or by phone call to Ripple6.

     

    Client
will provide e-mail and phone contacts to Ripple6 for all communications
required under this Exhibit on or prior to the Effective Date of the Agreement.
Client will designate up to two (2) individuals authorized to contact Ripple6
for Tier 2 support.

     

    3.           INCIDENT
SEVERITY LEVELS

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

             

    
      	      
              Incident
      Severity Level

            	      
              Characteristics

            	      
              initial

              Response

              Window

              (measured

              from

              receipt
      by

              Ripple6
      of

              notice

              regarding

              the

              Incident)

            	      
              Target
      Resolution

              Window
      (measured

              from
      expiration of

              the
      Initial Response

              Window)

            
	 	 	 	 
	
              1

            	Site is not
      Available	
              45
      minutes

            	Acceptable workaround
      within 45 minutes, target resolution time within 24
  hours
	 	 	 	 
	
              2

            	      
              Site
      users unable to access or use some functionality
      of the Site, and Site users' experience is adversely
      impacted

            	
              2
    hours

            	      
               Acceptable
      workaround
      within 8 hours, target resolution time within 2 days, or as agreed upon by
      the parties in writing

            
	 	 	 	 
	
              3

            	Some functionality
      of the Site is impaired, but Site users' experience not adversely
      impacted.	
              2 business
      days

            	Next
      scheduled maintenance
      or as agreed upon by the parties in writing
	
               

            	 	 	 
	
              4

            	Client has a request
      for enhancement to the Site.	
              3 business
      days

            	As agreed upon by
      the parties in writing

    

     

    3.           BACKUP

    Ripple6
will be responsible for hosting all data and services
for the Site at a
secure
offsite
location with
at
least daily backup capabilities. Ripple6 and Client will mutually agree
upon any specially needed backup activities. Twice daily backups will be
performed. A full weekly backup will be available via secure electronic
delivery. Backups will be periodically tested for validity and Client will be
notified of any backup failures or issues.

     

    5.           MAINTENANCE

     

    Scheduled updates and maintenance
('Scheduled
Maintenance) will be
performed during the hours of (____) on every (_____). Ripple6 shall have the right to change
the dates and times of the Scheduled
Maintenance upon reasonable notice to Client.

     

    Ripple6
will use commercially reasonable efforts to notify Client via email or telephone
no later than five (5) minutes prior to commencement of unplanned maintenance,
including an estimate of duration. If unplanned maintenance lasts more than
thirty (30) minutes, Ripple6 will send updates every thirty (30) minutes until
the unplanned maintenance is complete.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    6.           SERVICE
LEVEL DEFAULTS;
CHRONIC OUTAGES

    A "Service Level Default" means
a failure by Ripple6 to resolve any Severity Level 1 Incident within the
timeframes shown set forth in Section 2 above. If, during any calendar month,
there are two (2) or more Service Level 1 Defaults, then, in addition to any
other rights Client maintains under the Agreement, Client shall be entitled, as
its sole and exclusive remedy, to a one time credit equal to fifteen percent
(15%) of the average monthly Ongoing Services Fees billed to Client during the
ninety (90) days preceding the most recent Service Level Default. The total
credit will not exceed total monthly Ongoing Services Fees for the applicable
month

     

    In the
event that any three (3) Service Level Defaults occur in a consecutive three (3)
month period (Le., one Service Level Default per month during a consecutive
three (3) month period), then Client shall have the right to notify Ripple6 in
writing of a material breach of the Agreement and, if Ripple6 fads to cure in
accordance with the termination procedure set forth in the Agreement, Client
shall have the right to terminate the Agreement upon written notice to
Ripple6.

     

     

     

     

     

    
 

     

     

     

     

    11

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