Document:

Exhibit 10.5

 

License
Agreement

 

This
is a License Agreement (“Agreement”), entered into this 15th day of October 2012, to be effective as of
the Effective Date as defined below, by and between Parte, LLC (“Licensee”),
a New York limited liability company, and Playbutton, LLC (“Licensor”),
a Delaware limited liability company. Mr. Nick Dangerfield is also a party to this Agreement, but only as to Subsection 11.3(B)
(“By Playbutton and Dangerfield”).

 

Recitals

 

		A.	Licensor is the owner of certain intellectual property rights regarding a fully customizable music
player housed in a branded wearable button.
	 	 	 
	 	B.	The
parties have executed an Intellectual Property Purchase Agreement (“IP Purchase Agreement”) of even date herewith pursuant
to which certain intellectual property rights will be fully and irrevocably assigned by Licensee to Licensor.

 

		C.	The IP Purchase Agreement provides that effective as of the closing of the transactions under the
IP Purchase Agreement (“Effective Date”) Licensor shall license back to Licensee certain intellectual property rights
on the terms and subject to the conditions set forth below.

 

Now
Therefore, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:

 

Agreement

 

1.            Definitions.
Capitalized terms used in this Agreement shall have the following meanings:

 

“Confidential
Information” shall have the meaning assigned to it in Section 12 (“Confidential
Information”).

 

“Copyrights” shall
mean those works of authorship in any tangible medium of expression regarding, or used by Licensor in connection with, the development
or marketing of the Licensed Products on or before the Effective Date and described as such in Exhibit
A (“Copyrights”).

 

“Customers” shall
mean customers who purchase Licensed Products for their own use within the Territory and not for resale, either inside or outside
the Territory, other than to resale to end user consumers residing in the Territory who intend to use the Licensed Products for
non-commercial purposes in the Territory.

 

“Dangerfield” shall
mean Mr. Nick Dangerfield.

 

“Disclosing Party” shall
have the meaning assigned to it in Section 12 (“Confidential Information”).

 

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“Dispute” shall
have the meaning assigned to it in Section 13 (“Disputes”).

 

“Effective Date”
shall have the meaning assigned to it in Recital C of this Agreement.

 

“Granted Party” shall
have the meaning assigned to it in Subsection 2.3 (“Restrictions”).

 

“Granting Party” shall
have the meaning assigned to it in Subsection 2.3 (“Restrictions”).

 

“Improvements by Licensee”
shall have the meaning assigned to it in Subsection 7.1 (“By Licensee”).

 

“Improvements
by Licensor” shall have the meaning assigned to it in Subsection 7.2 (“By Licensor”).

 

“Intellectual Property”
shall mean the Trademarks, the Copyrights, the Trade Secrets and the Patents.

 

“Licensed Product” shall
mean that fully customizable music player housed in a branded wearable button described as such in Exhibit
B (“Licensed Product”).

 

“Maintenance Costs” shall
have the meaning assigned to it in Subsection 2.7 (“Trademark Maintenance”). 

 

“Patents” shall
mean those issued patents and patent applications in the Territory described as such in
Exhibit E (“Patents”).

 

“Product
Advertising” shall mean written or electronic advertising, marketing, packaging, promotion or selling of the Licensed
Products as permitted by this Agreement, in any media whatsoever, now existing or arising in the future.

 

“Product-Related Books and
Records” shall have the meaning assigned to it in Section 10 (“Audit
Rights”).

 

“Quality Standards”
shall have the meaning assigned to it in Subsection 2.4 (“Quality”).

 

“Receiving Party” shall
have the meaning assigned to it in Section 12 (“Confidential Information”).

 

“Sublicense Agreement”
shall mean, solely with respect to those sublicense rights granted to each party in Section
8 (“Sublicensing Rights”) a commercially reasonable, written and legally-enforceable form of sublicense
agreement between each party and its respective permitted sublicensees.

 

“Term” shall
have the meaning assigned to it in Section 14 (“Term and Termination”).

 

“Territory” shall
mean: (i) South Korea; (ii) Japan; and (iii) Taiwan.

 

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“Trademarks”
shall mean the trademarks, trade names, and service marks of Licensor in the Territory which are used in connection with the Licensed
Products and described as such in EXHIBIT C (“Trademarks”). 

 

“Trade Secrets”
shall mean all non-public ideas, concepts, know-how, procedures, and other non-public information regarding, or used by Licensor
in connection with, the development or marketing of the Licensed Products and described as such in Exhibit
D (“Trade Secrets”).

 

2.            Trademark
Ownership and License.

 

2.1            Ownership
in Japan. The parties understand and agree that Licensee shall be the exclusive owner of all rights in the Trademarks in Japan,
and Licensor shall not obtain, register or attempt to register any rights to the Trademarks in Japan. It shall be Licensee's sole
responsibility to engage legal counsel in Japan to apply for, register and obtain registrations for the Trademarks in Japan, and
Licensee shall do so at its own expense.

 

2.2            Option and
Grant. Licensee shall notify Licensor within thirty (30) days of the Effective Date regarding whether Licensee wishes to apply
for, register and obtain registrations for the Trademarks in South Korea and Taiwan.

 

A.            License
to Licensor. Where Licensee provides notice that Licensee does intend to apply for, register and obtain registrations for the
Trademarks in South Korea and Taiwan, then in such case Licensee shall be the exclusive owner of all rights in the Trademarks in
South Korea and Taiwan. Licensee shall then apply for, register and obtain registrations of the Trademarks in South Korea and Taiwan
at its own expense, and Licensee hereby grants to Licensor during the Term and solely in South Korea and Taiwan a non-exclusive,
nontransferable (except as provided in Subsection 18.12 (“Assignment”)), irrevocable, royalty-free license,
without the right to grant sublicenses, to use the Trademarks on copies of the Licensed Products and in Product Advertising, and
in all cases solely for sale of such Licensed Products to Customers in South Korea and Taiwan.

 

B.            License to Licensee.
Where Licensee provides notice that Licensee does not intend to apply for, register and obtain registrations for the Trademarks
in South Korea and Taiwan, or where Licensee fails to provide notice of such intent at all, then in such case Licensor shall be
the exclusive owner of all rights in the Trademarks in South Korea and Taiwan. Licensor may then apply for, register and obtain
registrations of the Trademarks in South Korea and Taiwan at its own expense and Licensor hereby grants to Licensee during the
Term, and solely in South Korea and Taiwan a non-exclusive, nontransferable (except as provided in Subsection 18.12 (“Assignment”)),
irrevocable, royalty-free license, without the right to grant sublicenses, to use the Trademarks on copies of the Licensed Products
and in Product Advertising, and in all cases solely for sale of such Licensed Products to Customers in South Korea and Taiwan.

 

2.3            Restrictions.
In addition to the other conditions on the licenses granted in Subsection 2.2 (“Option and Grant”), the following
restrictions shall apply to any license granted by one party (the “Granting Party”) to the other party (the “Granted
Party”) in such Subsection 2.2 (“Option and Grant”), but solely to such licenses and solely in the Territory.
Without limiting the generality of the foregoing, such restrictions shall not affect or limit Licensor’s ownership of the
Trademarks outside the Territory:

 

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A.            Uniform Branding
of License Product. Without the Granting Party’s express written consent, the Granted Party shall be prohibited from
marketing or distributing Licensed Products under any trademark other than the Trademarks.  In addition, the Granted
Party shall not brand product other than Licensed Products under the Trademarks.

 

B.            Alteration of
Trademarks. In Product Advertising, the Granted Party agrees not to use any other trademark or service mark in close proximity
to the Trademarks or combine such marks so as to effectively create a unitary or composite mark without the prior, written permission
of the Granting Party.

 

C.            No Confusingly
Similar Marks. The Granted Party acknowledges that this Agreement does not grant to it the right to adopt or use any name or
mark confusingly similar to the Trademarks.

 

2.4            Quality.
In order to protect and enhance the Trademarks and the goodwill associated therewith, the Granted Party shall ensure that the following
standards (“Quality Standards”) are followed throughout the Term: (i) the Licensed Products sold or offered
under the Trademarks shall be of at least as high a quality standard as evidenced by the Licensed Products as of the Effective
Date; and (ii) in no event shall any Product Advertising contain any unlawful, defamatory, libelous,
threatening, abusive, racist, vulgar, harassing, pornographic, or obscene material of any kind.

 

A.            Monitoring.
The Granted Party shall cooperate reasonably with the Granting Party and facilitate the Granting Party’s monitoring of
the Quality Standards. Such cooperation shall include, but not be limited to: (i) supplying the Granting Party with specimens
of use of the Trademarks promptly upon the Granting Party’s reasonable request; and (ii) allowing the Granting
Party, upon reasonable advance notice, to inspect facilities and personnel involved in the manufacture, marketing, or distribution
of License Products.

 

B.            Compliance with
Law. The Granted Party shall comply with all applicable laws, rules, regulations, and customs with respect to the Trademarks.

 

C.            Testing.
In order to confirm compliance with the Quality Standards, the Granted Party shall test Licensed Products or cause Licensed Products
to be tested (at the Granted Party’s expense) in accordance with specifications and other relevant criteria before distribution.
The Granted Party shall keep reasonable written records of such testing, and shall make such copies available to the Granting Party
upon reasonable request.

 

D. Acknowledgement.
The Granted Party acknowledges that the goodwill and reputation of the Granting Party depend upon the Granted Party’s consistent
maintenance of the Quality Standards.

 

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2.5            Review and
Approval Rights. Before implementing any Product Advertising, the Granted Party shall use its commercially reasonable efforts
to provide the Granting Party with a copy of such Product Advertising for the Granting Party’s review and confirmation of
conformity with the Quality Standards.

 

2.6            Granted Party
Ownership of Trademarks and Goodwill. The Granted Party acknowledges the value of the goodwill associated with the Trademarks
and further acknowledges that the Granting Party is the sole and exclusive owner of the Trademarks and the goodwill associated
therewith. The Granted Party agrees that any and all uses of the Trademarks shall inure to the sole benefit of the Granting Party.
The Granted Party agrees that it will not, either during or after the Term of this Agreement, contest, attack or dispute, or assist
another party in contesting, attacking or disputing, the Granting Party’s title or rights to the Trademarks or to any other
similar mark.

 

2.7            Trademark
Maintenance. The Licensee shall control and maintain the Trademarks in Japan at the Licensee’s expense. The Granting
Party shall control and maintain the Trademarks in South Korea and Taiwan (and the parties shall allocate the costs of such maintenance
(including reasonable attorney’s fees) (“Maintenance Costs”) such that: (a) the Granted Party shall pay
fifty percent (50%) of such Maintenance Costs; and (b) the Granting Party shall pay the remaining fifty percent (50%) of
such Maintenance Costs. Upon submission of supporting documentation for such Maintenance Costs, and reasonable proof that the Granting
Party has paid or will pay such Maintenance Costs, the Granted Party shall promptly reimburse the Granting Party for all amounts
falling within the Granted Party’s portion of such Maintenance Costs, including without limitation attorneys’ fees
and filing fees, expended in connection therewith.

 

2.8            Duration.
The license granted in this Section 2 (“Trademark Ownership and License”)
shall commence on the Effective Date and shall continue indefinitely, unless earlier terminated in accordance
with the provisions of Section 14 (“Term and Termination”).

 

3.            Copyright
License.

 

3.1            Grant.
Subject to the terms of this Agreement, and in consideration of Licensee’s timely performance of its obligations under this
Agreement, Licensor hereby grants to Licensee as of the Effective Date:

 

A.            During the
Term solely in Japan an exclusive (both as to Licensor itself, and all third parties), nontransferable (except as provided in Subsection
18.12 (“Assignment”)), irrevocable, royalty-free license, including the right to grant sublicenses as described
in Section 8 (“Sublicensing Rights”)), to use, execute, copy,
publicly perform, publicly display, digitally perform and create derivative works of the Copyrights in and in connection with the
Licensed Products and the Product Advertising, and in all cases solely for sale of such Licensed Products to Customers; and

 

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B.            During the
Term solely in South Korea and Taiwan a non-exclusive, nontransferable (except as provided in Subsection 18.12 (“Assignment”)),
irrevocable, royalty-free license, including the right to grant sublicenses as described in Section
8 (“Sublicensing Rights”)), to use, execute, copy, publicly perform, publicly display, digitally perform
and create derivative works of the Copyrights in and in connection with the Licensed Products and the Product Advertising, and
in all cases solely for sale of such Licensed Products to Customers.

 

3.2            Ownership.
Licensee acknowledges that Licensor is the owner of the Copyrights, and Licensor agrees that Licensee shall obtain no ownership
interest therein under this Agreement.

 

3.3            Duration.
The license granted in this Section 3 (“Copyright License”) shall
commence on the Effective Date and shall continue indefinitely, subject to the provisions of Section
14 (“Term and Termination”).

 

4.            Trade
Secret License.

 

4.1            Grant.
Subject to the terms and conditions of this Agreement and in consideration of Licensee’s timely performance of its obligations
under this Agreement, Licensor hereby grants to Licensee as of the Effective Date:

 

A.            During the
Term and solely in Japan an exclusive (both as to Licensor itself, and all third parties), nontransferable (except as provided
in Subsection 18.12 (“Assignment”)), irrevocable, royalty-free license, including the right to grant sublicenses
as described in Section 8 (“Sublicensing Rights”)), to make, have
made, use, lease, sell (solely to Customers), offer for sale (solely to Customers), and import Licensed Products under the Trade
Secrets; and

 

B.            During the
Term and solely in South Korea and Taiwan a non-exclusive nontransferable (except as provided in Subsection 18.12 (“Assignment”)),
irrevocable, royalty-free license, including the right to grant sublicenses as described in Section
8 (“Sublicensing Rights”)), to make, have made, use, lease, sell (solely to Customers), offer for sale
(solely to Customers), and import Licensed Products under the Trade Secrets.

 

4.2            Confidential
Treatment. The Trade Secrets shall be protected as Confidential Information of Licensor for all purposes under this Agreement.

 

4.3            Ownership.
Licensee acknowledges that Licensor is the owner of the Trade Secrets, and Licensor agrees that Licensee shall obtain no ownership
interest therein under this Agreement.

 

4.4            Duration.
The license granted in this Section 5 (“Trade Secret License”) shall
commence on the Effective Date and shall continue indefinitely, subject to the provisions of Section
14 (“Term and Termination”).

 

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5.            Patent
License.

 

5.1            Grant.
The parties understand and agree that Licensee is and shall remain the sole owner of the Patents filed in Japan relating to the
Licensed Products. Subject to the terms and conditions of this Agreement and in consideration of Licensee’s timely performance
of its obligations under this Agreement, Licensor hereby grants to Licensee, as of the Effective Date, during the Term and solely
in South Korea and Taiwan a non-exclusive, nontransferable (except as provided in Subsection 18.12 (“Assignment”)),
royalty-free license, including the right to grant sublicenses as described in Section
8 (“Sublicensing Rights”)), to make, have made, use, lease, sell (solely to Customers), offer for sale (solely
to Customers), and import Licensed Products under the Patents and offer services related to the Licensed Products under the Patents.

 

5.2            Confidential
Treatment. Any unpublished application regarding any of the Patents shall be protected as Confidential Information of Licensor
for all purposes under this Agreement.

 

5.3            Ownership.
Licensee acknowledges Licensor’s assertion that it is the owner of all Patents, other than the Japanese Patents, and Licensee
agrees that Licensee shall obtain no ownership interest in any such Patent under this Agreement.

 

5.4            Duration.
The license granted in this Section 5 (“Patent License”) shall
commence on the Effective Date and shall continue indefinitely, subject to the provisions of Section 14
(“Term and Termination”).

 

6.            Marking
and Notices.

 

Licensee agrees that it shall cause to
be affixed conspicuously on Licensed Products subject to this Agreement (or where not reasonably practical, on related packaging
materials) in a manner reasonably agreed to by Licensor, such patent and other intellectual property notices as Licensor may from
time to time require.

 

7.            Improvements.

 

7.1            By
Licensee. The parties agree that: (a) any derivative works of any of the Copyrights created by or on behalf of Licensee;
and (b) any improvements to any of the Trade Secrets or the Patents (regardless of whether patentable) created by or on
behalf of Licensee, collectively “Improvements by Licensee,” shall be owned solely by Licensee, but subject to the
following:

 

A.             Improvements
by Licensee of Copyrights. As to any Improvement by Licensee of Copyrights, Licensee hereby agrees to disclose such improvements
to Licensor promptly and in writing, providing such information as Licensor may reasonably require to understand the nature and
function of such improvements. With respect to such improvements, Licensee hereby grants to Licensor:

 

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(i)            During
the Term and solely outside the Territory, an exclusive (both as to Licensee itself, and all third parties, including
without limitation Dangerfield), irrevocable, nontransferable (except as provided in Subsection 18.12 (“Assignment”)),
fully paid up, royalty-free license, including the right to grant sublicenses as described in Section
8 (“Sublicensing Rights”)), to use, execute, copy, publicly perform, publicly display, digitally perform
and create derivative works of the Copyrights outside the Territory; and

 

(ii)           During
the Term and solely in South Korea and Taiwan an irrevocable, nontransferable (except as provided in Subsection
18.12 (“Assignment”)), fully paid up, royalty-free license, including the right to grant sublicenses as described
in Section 8 (“Sublicensing Rights”)), to use, execute, copy,
publicly perform, publicly display, digitally perform and create derivative works of the Copyrights in South Korea and Taiwan.

 

B.            Improvements
by Licensee to Trade Secrets or Patents. As to any Improvement by Licensee of Trade Secrets or Patents, Licensee hereby agrees
to disclose such improvements to Licensor promptly and in writing, providing such information as Licensor may reasonably require
to understand the nature and function of such improvements. With respect to such improvements, Licensee hereby grants to Licensor:

 

(i)            During
the Term and solely outside of the Territory, an exclusive (both as to Licensee itself, and all third parties, including
without limitation Dangerfield), irrevocable, nontransferable (except as provided in Subsection 18.12 (“Assignment”)),
fully paid up, royalty-free license, including the right to grant sublicenses as described in Section
8 (“Sublicensing Rights”)), to make, have made, use, sell, lease, offer for sale and import Licensed Products;
and

 

(ii)           During
the Term and solely in South Korea and Taiwan, a non-exclusive, irrevocable, nontransferable (except as provided
in Subsection 18.12 (“Assignment”)), fully paid up, royalty-free license, including the right to grant sublicenses
as described in Section 8 (“Sublicensing Rights”)), to make,
have made, use, sell, lease, offer for sale and import Licensed Products.

 

7.2            By
Licensor. The parties agree that: (a) any derivative works of any of the Copyrights created by or on behalf of Licensor;
and (b) any improvements to any of the Trade Secrets or the Patents (regardless of whether patentable) created by or on
behalf of Licensor, collectively “Improvements by Licensor,” shall be owned solely by Licensor, but subject to the
following:

 

A.            Improvements
by Licensor of Copyrights. As to any Improvement by Licensor of Copyrights, Licensor hereby agrees to disclose such improvements
to Licensee promptly and in writing, providing such information as Licensee may reasonably require to understand the nature and
function of such improvements. Such improvements by Licensor of Copyrights shall be deemed part of the Copyrights under this Agreement,
and subject to the license granted to Licensee in Section 3 (“Copyright License”).

 

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B.            Improvements
by Licensor of Trade Secrets or Patents. As to any Improvement by Licensor of Trade Secrets or Patents, Licensor hereby agrees
to disclose such improvements to Licensee promptly and in writing, providing such information as Licensee may reasonably require
to understand the nature and function of such improvements. Such Improvements by Licensor of Trade Secrets or Patents shall be
deemed part of the Trade Secrets or Patents (as the case may be), and subject to the license granted to Licensee in Section
4 (“Trade Secret License”) and Section 5 (“Patent License”).

 

8.            Sublicensing
Rights.

 

8.1            Right
for Licensee to Grant Sublicenses. Licensee shall be entitled to grant sublicenses to each of the licenses granted under this
Agreement, on the following conditions: (a) Licensee shall comply with the Quality Standards, and shall ensure that each
such sublicensee shall comply with the Quality Standards; (b) the terms of each Sublicense Agreement shall be no less protective
of Licensor than this Agreement in all respects, including without limitation those confidentiality obligations described in Section
12 (“Confidential Information”); (c) each sublicensee shall have agreed in writing that Licensor
is an intended third party beneficiary of the Sublicense Agreement; and (d) each such sublicensee shall permit inspection
rights to Licensee that are no less protective of Licensor than this Agreement. Licensor hereby acknowledges and agrees that the
certain License Agreement (“Memory-Tech Agreement”) dated December 1, 2011 between Licensee, Chapa KK and Memory-Tech
Corporation shall be deemed to comply with this Section 8.1, provided that any material amendment to or modification of the Memory-Tech
Agreement shall be conducted in compliance with this Subsection 8.1 (“Right
for Licensee to Grant Sublicenses”).

 

8.2            Licensee’s
Responsibility. Licensee shall remain responsible for its permitted sublicensees’ conduct and (by way of example and
not limitation) a breach by a permitted sublicensee of the Quality Standards shall be a breach by Licensee of such Quality Standards.

 

8.3            Right
for Licensor Grant Sublicenses. Licensor shall be entitled to grant sublicenses to each of the licenses granted under this
Agreement, on the following conditions: (a) the terms of each Sublicense Agreement shall be no less protective of Licensee
than this Agreement in all respects, including without limitation those confidentiality obligations described in Section
12 (“Confidential Information”); and (b) each sublicensee shall have agreed in writing that Licensee
is an intended third party beneficiary of the Sublicense Agreement.

 

8.4            Licensor’s
Responsibility. Licensor shall remain responsible for its permitted sublicensees’ conduct.

 

9.             No
Fees.

 

The parties understand and agree that there
shall be no fees or other amounts owed or paid to or by either party to this Agreement.

 

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10.           Audit Rights.

 

Licensor shall have the right (itself or
through a designee) to conduct an inspection and audit of Product-Related Books and Records upon reasonable notice of no more than
ten (10) business days. Licensee shall make such Product-Related Books and Records available in the form in which such records
are maintained (including digital form as well as print form, if so maintained by Licensee), and shall provide reasonable assistance
during such audit, at Licensee’s reasonable expense. Licensor shall be entitled to obtain true and correct photocopies (or
digital copies) thereof, during regular business hours at Licensee’s offices and in such a manner as not to interfere unreasonably
with Licensee’s normal business activities. Such copies shall be deemed Confidential Information of Licensee. All such Product-Related
Books and Records, and copies thereof, shall be deemed the Confidential Information of Licensee for purposes of Section
12 (“Confidential Information”). In no event shall such audits be conducted hereunder more frequently
than one (1) time each year. Licensor may exercise this audit right during the Term of this Agreement, and for a period of two
(2) years thereafter.

 

11.           Sales,
Marketing and Distribution.

 

11.1           Limitations.
The parties understand and agree that in no event shall Licensee directly or indirectly sell, market, advertise or otherwise
provide Licensed Products to any third party other than a Customer. Without limiting the generality of the foregoing, Licensee
shall not sell, market, advertise or otherwise provide Licensed Products to any third party whose residence or principal place
of business is outside the Territory.

 

11.2           Manufacturing
and Distribution Obligations. During the Term, Licensee shall be responsible at its own expense for all sourcing, manufacturing,
warehousing, packaging, labeling, invoicing, shipping, and returns of Licensed Products. Licensor agrees to use its best efforts
to arrange for Licensee’s ability to purchase Licensed Products, in an amount not to exceed 1,000 units per production run,
at the same cost provided to Licensor, provided that Licensor shall be under no obligation to take any action that would result
in a Licensor’s incursion of additional costs or expenses or the impairment of its ability to purchase Licensed Products
for its own account.

 

11.3           Non-Competition.

 

A.           By Licensor.
Licensor shall not, without Licensee’s express written consent, engage in the design, development, marketing, sale or service
of any wearable digital music player in Japan during the Term and for twelve (12) months thereafter. Where a court finds that twelve
(12) months is excessively long, then in such case the period shall instead be nine (9) months; where a court finds that nine (9)
months is excessively long, then in such case the period shall be six (6) months; where a court finds that six (6) months is excessively
long, then in such case the period shall be three (3) months.

 

B.           By Licensee
and Dangerfield. Licensee and Dangerfield shall not, without Licensor’s express written consent, engage in the design,
development, marketing, sale or service of any wearable digital music player outside the Territory during the Term and for twelve
(12) months thereafter. Where a court finds that twelve (12) months is excessively long, then in such case the period shall instead
be nine (9) months; where a court finds that nine (9) months is excessively long, then in such case the period shall be six (6)
months; where a court finds that six (6) months is excessively long, then in such case the period shall be three (3) months. Notwithstanding
the foregoing, in the event that Dangerfield presents to the board of directors (“Board”) of Playbutton Acquisition
Corp., the parent corporation of Licensor, an opportunity to pursue the design, development, marketing, sale or service of a wearable
digital music player other than the Playbutton and the Board turns down the opportunity, the restrictions set forth in this Section
11.3(B) shall be waived as to such opportunity.

 

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12.           Confidential
Information.

 

12.1           Protection.
Each party (the “Disclosing Party”) may from time to time during the Term of this Agreement disclose to the other party
(the “Receiving Party”) certain non-public information regarding the Disclosing Party’s business, including technical,
marketing, financial, personnel, planning, and other information (“Confidential Information”). The term “Confidential
Information” expressly includes the Trade Secrets, which are the Confidential Information of Licensor. The Disclosing Party
shall mark all such Confidential Information in tangible form with the legend ‘confidential’, ‘proprietary’,
or with similar legend.  With respect to Confidential Information disclosed orally, the Disclosing Party shall describe
such Confidential Information as such at the time of disclosure, and shall confirm such Confidential Information as such in writing
within thirty (30) days after the date of oral disclosure.

 

12.2           Confidential
Nature of Terms of Agreement. Each party agrees not to disclose the terms of this Agreement to any third party except as required
by law, in order to enforce such party’s rights hereunder, or under obligation of confidence to advisors, attorneys, accountants,
or investment professionals.

 

12.3           Protection
of Confidential Information. Except as expressly permitted by this Agreement including without limitation in Section
4 (“Trade Secret License”), the Receiving Party shall not disclose the Confidential Information of the Disclosing
Party, and shall not use the Confidential Information of the Disclosing Party for any purpose not expressly permitted by this Agreement.
The Receiving Party shall limit the disclosure of the Confidential Information of the Disclosing Party to the employees or agents
of the Receiving Party who have a need to know such Confidential Information for purposes of this Agreement, and who are, with
respect to the Confidential Information of the Disclosing Party, bound in writing by confidentiality terms no less restrictive
than those contained herein. The Receiving Party shall provide copies of such written agreements to the Disclosing Party upon request;
provided, however, that such agreement copies shall themselves be deemed the Confidential Information of the Receiving Party. Notwithstanding
the foregoing, the Receiving Party shall be permitted to disclose Confidential Information as required by law or by the order of
a court or similar judicial or administrative body; provided, however, that the Receiving Party shall notify the Disclosing Party
of such requirement immediately and in writing, and shall cooperate reasonably with the Disclosing Party, at the Disclosing Party’s
expense, in the obtaining of a protective or similar order with respect thereto.

 

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12.4           Exceptions.
Notwithstanding anything herein to the contrary, Confidential Information shall not be deemed to include any information which:
(a) was already lawfully known to the Receiving Party without obligation of confidence at the time of disclosure by the
Disclosing Party as reflected in the written records of the Receiving Party; (b) was or has been disclosed by the Disclosing
Party to a third party without obligation of confidence; (c) was or becomes lawfully known to the general public without
breach of this Agreement; (d) is independently developed by the Receiving Party without access to, or use of, the Confidential
Information; (e) is approved in writing by the Disclosing Party for disclosure by the Receiving Party; or (f) is
required to be disclosed in order for the Receiving Party to enforce its rights under this Agreement.

 

12.5           Return of
Confidential Information. The Receiving Party shall return to the Disclosing Party, destroy or erase all Confidential Information
of the Disclosing Party in tangible form: (a) upon the written request of the Disclosing Party (except with respect to the
Trade Secrets or other Confidential Information of which the Receiving Party is entitled to continued possession under the terms
of this Agreement); or (b) upon the expiration or termination of this Agreement, whichever comes first, and in both cases,
the Receiving Party shall certify promptly and in writing that it has done so.

 

13.           Disputes.
Any controversy of claim between the parties arising from or in connection with this Agreement, whether based on contract,
tort, common law, equity, statute, regulation, order or otherwise (“Dispute”), shall be resolved as follows:

 

13.1           Informal
Dispute Resolution. Upon written request of any party hereto, each Dispute shall be submitted to senior executives of each
party, who shall meet for the purpose of endeavoring to resolve such Dispute, as often and at times and places as the parties reasonably
deem necessary to discuss the Dispute in an effort to resolve the Dispute without the necessity of any formal proceeding. In the
event that such senior executives are unable to resolve the Dispute within fifteen (15) days after the Dispute is submitted to
them, or if after ten (10) days either party determines in good faith prior to the expiration of such period that further discussion
is unlikely to be able to resolve such matter, the Dispute shall be submitted to arbitration in accordance with Subsection 13.2
(“Arbitration”) hereof.

 

13.2           Arbitration.
Any Dispute between the parties shall be settled through mandatory and binding arbitration to be conducted in New York, New York,
and in accordance with the Commercial Arbitration Rules of the AAA, before a single arbitrator. Any related arbitration award will
be final, conclusive and binding upon the parties and any judgment hereon may be entered and enforced in any court of competent
jurisdiction.

 

14.           Term
and Termination.

 

14.1           Term.
The term of this Agreement (“Term”) shall commence upon the Effective Date and shall continue until the expiration
or invalidation of all rights in the Intellectual Property, unless earlier terminated by either party as hereinafter provided.

 

    	12

    	 

    

 

14.2           Termination
for Material Breach. Either party may terminate this Agreement immediately upon written notice for the material breach of the
other party, which material breach has remained uncured for period of forty-five (45) days from the date of delivery
of written notice thereof to the breaching party.

 

14.3           Termination
without Prejudice to Other Remedies. Termination of this Agreement by the non-breaching party shall be without prejudice to
the exercise of other rights and remedies hereunder.

 

14.4           Effect of
Termination or Expiration. In the event of the expiration or termination of this Agreement for any reason:

 

A.           All
rights and licenses granted to Licensee in the Territory shall survive; and

 

B.           Licensor’s
ownership of all Intellectual Property rights outside the Territory shall survive.

 

15.           Infringement
Litigation.

 

15.1           Notice.
Each party shall notify the other party immediately and in writing of any third party infringement of the Intellectual Property.

 

15.2           Infringement;
Enforcement. Licensee will have the first right (but not the obligation), at its expense, to enforce its rights in the Licensed
Technology against any infringement or alleged infringement of such rights in Japan and Licensor will have the first right (but
not the obligation), at its expense, to enforce its rights in the Intellectual Property against any infringement or alleged infringement
of such rights in South Korea and Taiwan. The right to enforce includes, but is not limited to, defending any declaratory judgment,
non-infringement or invalidity actions. If the party having the first right to enforce under this Section 15
(“Infringement Litigation”) declines or fails to commence enforcement within thirty (30) days of receiving
a written request from the other party to enforce the Intellectual Property rights against any infringement or alleged infringement
of such rights, the other party shall have the right to enforce such rights, at its own expense, using counsel of its choice. The
party prosecuting the Intellectual Property rights will retain one hundred percent (100%) of any recovery or settlement received
from any enforcement under this Section 15 (“Infringement Litigation”),
unless the other party has joined in the prosecution and the parties have agreed to split the recovery or settlements. The non-prosecuting
party will provide reasonable assistance to the prosecuting party, including by joining as a nominal party and executing such documents
as the prosecuting party may reasonably request, at the prosecuting party’s expense, with respect to such actions.

 

16.           Limitation
of Liability.

 

OTHER THAN FOR ANY BREACH OF SECTION 15
(“CONFIDENTIAL INFORMATION”), NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY OR ANY OTHER PARTY FOR ANY LOSS OF USE,
INTERRUPTION OF BUSINESS OR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES OF ANY KIND (INCLUDING LOST PROFITS)
REGARDLESS OF THE FORM OF ACTION SEEKING SUCH DAMAGES (WHETHER IN CONTRACT, TORT INCLUDING NEGLIGENCE, STRICT PRODUCT LIABILITY
OR OTHERWISE), EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

    	13

    	 

    

 

17.           Survival
and Order of Precedence.

 

In the event of any expiration or termination
of this Agreement, the provisions of Section 1 (“Definitions”), Section 2
(“Trademark Ownership and License”), Section 3 (“Copyright License”), Section 4 (“Trade Secret License”),
Section 5 (“Patent License”), Section 6 (“Markings and Notices”), Section 8 (“Sublicensing Rights”),
Section 10 (“Audit Rights’), Subsection 12.3 (“Non-Competition”), Section
12 (“Confidential Information”), Section 13 (“Disputes”), Subsection 14.4 (“Effect of Termination
or Expiration”), Section 16 (“Limitation of Liability”), Section 17 (“Survival
and Order of Precedence”) and Section 18 (“General”) shall
survive and shall continue to bind the parties. In the event of any conflict between the terms of this Agreement and the terms
of any exhibit, the terms of the exhibit shall control.

 

18.           General.

 

18.1           Governing
Law. This Agreement shall be governed in all respects by the laws of the United States of America and the State of New York
without regard to conflicts of law principles. The parties agree that the United Nations Convention on Contracts for the International
Sale of Goods shall not apply to this Agreement.

 

18.2           Attorneys’
Fees. In the event any proceeding or lawsuit is brought by Licensee or Licensor in connection with this Agreement, the prevailing
party in such proceeding shall be entitled to receive its costs, expert witness fees and reasonable attorneys’ fees, including
costs and fees on appeal.

 

18.3           Export
Laws Compliance. Each party agrees to comply with all U.S. and foreign laws regarding import and export, including without
limitation those with respect to the export of technical data.

 

18.4           Forum.
Subject to Section 13 (“Disputes”), the State and Federal Courts
located in located in New York, New York shall have exclusive jurisdiction over disputes under this Agreement, and the parties
hereby consent to the personal jurisdiction of such courts.

 

18.5           Injunctive
Relief. Licensee acknowledges that a breach of the Quality Standards will cause irreparable harm and significant injury, the
scope of which is difficult to ascertain. Accordingly, Licensee agrees that Licensor shall have the right to obtain an immediate
injunction enjoining any such breach.

 

    	14

    	 

    

 

18.6           Notices.
All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed given
upon receipt by the parties at the following addresses (or at such other address for a Party as shall be specified by like notice):

 

		If to Licensor, to:	Playbutton,
LLC

37 W 28th St. 3rd Floor

New York, NY 10001

Attention: Adam Tichauer,
CEO

Email: adam@playbutton.com

	 	 	 
	 	If to Licensee, to:	Parte,
LLC

                                                                                        438
Broome Street, Suite S

                                                                                        New
York, NY 10013

                                                                                        Attn:
Nick Dangerfield

                                                                                        Email: ndangerfield@gmail.com

 

18.7           No Agency.
Nothing contained herein shall be construed as creating any agency, partnership, or other form of joint enterprise between the
parties.

 

18.8           Force Majeure.
Neither party shall be liable hereunder by reason of any failure or delay in the performance of its obligations hereunder on account
of strikes, shortages, riots, insurrection, fires, flood, storm, explosions, acts of God, war, governmental action, labor conditions,
earthquakes, material shortages or any other cause which is beyond the reasonable control of such party.

 

18.9           Waiver.
The failure of either party to require performance by the other party of any provision hereof shall not affect the full right to
require such performance at any time thereafter; nor shall the waiver by either party of a breach of any provision hereof be taken
or held to be a waiver of the provision itself.

 

18.10          Severability.
In the event that any provision of this Agreement shall be unenforceable or invalid under any applicable law or be so held by applicable
court decision, such unenforceability or invalidity shall not render this Agreement unenforceable or invalid as a whole, and, in
such event, such provision shall be changed and interpreted so as to best accomplish the objectives of such unenforceable or invalid
provision within the limits of applicable law or applicable court decisions.

 

18.11          Headings.
The section headings appearing in this Agreement are inserted only as a matter of convenience and in no way define, limit, construe,
or describe the scope or extent of such section or in any way affect this Agreement.

 

18.12          Assignment;
Right of First Refusal; Right of Purchase.  This Agreement and the rights and obligations of Licensee hereunder
may be assigned by Licensee, subject to Licensor’s right of first refusal and right of purchase set forth in Subsection
18.12.A and Subsection 18.12.B, respectively (“Assignment; Right of First Refusal; Right of Purchase”).

 

    	15

    	 

    

 

A.          If
during the Term of this Agreement, Licensee receives an Assignment Proposal (as defined below), and if Licensee’s management
or board of directors determines that it has a good faith interest in pursuing the Assignment Proposal, then Licensee will submit
the Assignment Proposal to Licensor and Licensor, or its parent corporation, will have a right of first refusal (“Right
of First Refusal”) to engage in the Assignment Transaction (as defined below) subject to such Assignment Proposal, on the
terms and subject to the conditions set out in this Subsection 18.12.A (“Assignment; Right of First Refusal”).
Within five (5) days of Licensee’s determination that it has a good faith interest in pursuing the Assignment Proposal,
Licensee will provide Licensor with its expression of interest (“Expression of Interest”) in pursuing the Assignment
Transaction. Licensee will also provide or make available to Licensor, upon Licensor entering into an appropriate nondisclosure
and confidentiality agreement, the due diligence materials (“Due Diligence Materials”) provided by Licensee to the
potential acquirer or its representatives. For a period of fourteen (14) days following the date that Licensee provides or makes
available to Licensor the Due Diligence Materials, Licensor, or its parent, will have the right to submit an offer to acquire
(“Offer to Acquire”) the Assignment Proposal. In the event Licensor submits an Offer to Acquire in accordance with
this Subsection 18.12.A (“Assignment; Right of First Refusal”), then Licensee will be obligated to accept the
Offer to Acquire over the Assignment Proposal. Nothing in this Subsection 18.12.A (“Assignment; Right of First Refusal”)
will require Licensee to enter into an Assignment Transaction, either pursuant to an Assignment Proposal or a Offer to Acquire,
it being understood by the parties that this Subsection 18.12.A (“Assignment; Right of First Refusal”) is
intended to express a preference for the Offer to Acquire over the Assignment Proposal, with Licensee being free to refuse to
enter into an Acquisition Transaction. If Licensor, or its parent, fails to provide the Expression of Interest or an Offer to
Acquire on a timely basis, then Licensee will be entitled to accept the Assignment Proposal provided that the terms of the Assignment
Proposal are not subsequently modified in favor of the potential acquirer. If the terms of the Assignment Proposal are subsequently
modified in favor of the potential acquirer, then Licensee will deliver the revised Assignment Proposal to Licensor and the parties
will repeat the procedure set out above. For purposes of this Agreement, the term “Assignment Transaction” means a
possible assignment, sale or transfer of Licensee’s rights under this Agreement to a third party. For purposes of this Agreement,
the term “Assignment Proposal” means any offer or proposal from a third party (not being an offer or proposal made
or submitted by Licensor or an affiliate of Licensor) contemplating or otherwise relating to any Assignment Transaction.

 

B.          If
during the Term of this Agreement, Licensee undergoes a Change in Control (as defined below), then upon Licensee’s written
notice to Licensor of the Change in Control or Licensor’s written notice to Licensee of its awareness of a Change in Control
(each such event, a “Triggering Event”), Licensor shall have the option to purchase all of Licensee’s rights
under this Agreement (“License Rights”) on the terms and subject to the conditions set out in this Subsection 18.2.B.
Licensee shall provide Licensor with written notice of a Change in Control as soon as practicable following such event. Licensor
shall have the option, for a period ending thirty (30) days following the determination of the Fair Market Value (as defined below),
as provided in this Subsection 18.2.B, to purchase the License Rights. The purchase price of the License Rights shall be
the Fair Market Value of the License Rights. Licensor and the Licensee shall use their best efforts to mutually agree upon the
Fair Market Value. If Licensor and the Licensee are unable to so agree within ten (10) days of Licensor’s delivery or receipt
of the written notice of a Triggering Event, Licensor and Licensee shall each appoint one appraiser, and the two appraisers shall
appoint a third appraiser. The third appraiser shall then be engaged to appraise the Fair Market Value of the License Rights.
Licensor shall pay all of the fees charged by all appraisers and Licensee shall cooperate with the appraiser and, subject to the
appraiser’s execution of an appropriate nondisclosure and confidentiality agreement, provide all information concerning
Licensee’s business conducted pursuant to the License Rights reasonably required to determine Fair Market Value. The closing
of the purchase of License Rights by Licensor shall take place, and all payments from Licensor shall have been delivered to the
Licensee, no later than the tenth (10th) day following Licensor’s delivery to the Licensee of its election to
exercise its option to purchase the License Rights pursuant to this Subsection 18.2.B. For purposes of this Agreement,
the term “Change in Control” means either (a) the sale or other transfer of all or substantially all of Licensee’s
or assets to a third party, or (b) the issuance, sale or transfer to a party or parties, following the date of this Agreement,
pursuant to which such party or parties acquire, in one transaction or series of transactions determined on a consolidated basis,
a majority of the voting power of Licensee’s outstanding voting securities. The term “Fair Market Value” means
the cash price that a willing buyer would pay to a willing seller when neither is acting under compulsion and when both have reasonable
knowledge of the relevant facts on the date of determination.

 

    	16

    	 

    

 

18.13          Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, each of which will be considered an original, but all
of which together will constitute one (1) and the same instrument.

 

18.14          Entire
Agreement. This Agreement together with the exhibits hereto completely and exclusively states the agreement of the parties
regarding its subject matter, and supersedes, and its terms govern, all prior proposals, agreements, or other communications between
the parties, oral or written, regarding such subject matter. This Agreement shall not be modified except by a subsequently dated
written amendment signed on behalf of each of the parties.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	17

    	 

    

 

In
Witness Whereof, the parties hereto have caused this Agreement to be executed by their duly authorized representatives.

 

Playbutton,
LLC

 

By:/s/
Adam Tichauer

       Adam Tichauer, Chief
Executive Officer

 

 

 

Parte,
LLC

 

By:
/s/ Nick Dangerfield

       Nick Dangerfield, Chief
Executive Officer

 

 

 

Mr.
Nick Dangerfield

(As
to Subsection 11.3(B) only)

 

 

/s/ Nick Dangerfield

 

 

 

    	18

    	 

    

 

Exhibit
A

Copyrights

 

  

All Copyrights as of
the Effective Date that come with the definition of Parte Rights, as such term is defined in that certain License Agreement dated
September 20, 2011 between Licensee and Licensor.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	Exhibit A-1

    	 

    

 

Exhibit
B

Licensed
Product

 

 

A low cost MP3 digital music player with the characteristics
and quality of an iPod Shuffle that comes in the form of a wearable button that can be pinned to your shirt or jacket. The button
is customizable to offer, among other things, the opportunity to either promote a brand name or logo or promote the artist whose
music is featured on the device, and is more fully described in the patents and patent applications set forth on Exhibit E.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	Exhibit B-1

    	 

    

 

Exhibit
C

Trademarks

  

 

The mark “Playbutton”.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	Exhibit C-1

    	 

    

 

Exhibit
D

Trade
Secrets

 

 

All Trade Secrets as
of the Effective Date that come with the definition of Parte Rights, as such term is defined in that certain License Agreement
dated September 20, 2011 between Licensee and Licensor.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	Exhibit D-1

    	 

    

 

Exhibit
E

 

Patent
Applications

 

 

	Patent	Country	Registration No./Docket No.	Status
	Patent Application	PCT	PCT/US2011/025901	Applied for

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	Exhibit E-1Exhibit 10.6

 

[FORM OF]

 

REGISTRATION RIGHTS AGREEMENT

 

 

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”) is entered into effective as of October 17, 2012, among Playbutton Acquisition
Corp., a Delaware corporation (the “Company”), and each signatory hereto (each, an “Investor”
and collectively, the “Investors”).

 

R E C I T A L S

 

WHEREAS, the Company
and the Investors are parties to Subscription Agreements (the “Subscription Agreements”) entered into in connection
with a private placement offering described in the Confidential Private Placement Memorandum, dated October 17, 2012, as such may
be amended and supplemented from time to time (the “PPM”);

 

WHEREAS, the Investors’
obligations under the Subscription Agreements are conditioned upon certain registration rights under the Securities Act of 1933,
as amended (the “Securities Act”); and

 

WHEREAS, the Investors
and the Company desire to provide for the rights of registration under the Securities Act as are provided herein upon the execution
and delivery of this Agreement by such Investors and the Company.

 

NOW, THEREFORE, in
consideration of the promises, covenants and conditions set forth herein, the parties hereto hereby agree as follows:

 

1.             Registration Rights.

 

1.1             Definitions.
As used in this Agreement, the following terms shall have the meanings set forth below:

 

(a)                
“Commission” means the United States Securities and Exchange Commission.

 

(b)                
“Common Stock” means the Company’s common stock, par value $0.001 per share.

 

(c)                
“Effectiveness Date” means the date that is two hundred ten (210) days after the Trigger Date.

 

(d)                
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(e)                
“Filing Date” means the date that is ninety (90) days after the Trigger Date.

 

(f)                 
“Investor” means any person owning Registrable Securities who becomes party to this Agreement by executing
a counterpart signature page hereto, or other agreement in writing to be bound by the terms hereof, which is accepted by the Company.

 

(g)                
The terms “register,” “registered” and “registration” refer to
a registration affected by preparing and filing a registration statement or similar document in compliance with the Securities
Act, and the declaration or ordering of effectiveness of such registration statement or document.

 

(h)                
“Registrable Securities” means any of the Shares or any securities issued or issuable as (or any securities
issued or issuable upon the conversion or exercise of any warrant, right or other security that is issued as) a dividend or other
distribution with respect to, or in exchange for, or in replacement of, the Shares; provided, however, that Registrable
Securities shall not include any securities of the Company that have previously been registered and remain subject to a currently
effective registration statement or which have been sold to the public either pursuant to a registration statement or Rule 144,
or which have been sold in a private transaction in which the transferor’s rights under this Section 1 are not assigned,
or which may be sold immediately without registration under the Securities Act and without volume restrictions pursuant to Rule
144.

 

    	1

    	 

    

 

(i)                  
“Rule 144” means Rule 144 as promulgated by the Commission under the Securities Act, as such Rule may
be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

 

(j)                 
“Rule 415” means Rule 415 as promulgated by the Commission under the Securities Act, as such Rule may
be amended from time to time, or any similar successor rule that may be promulgated by the Commission.

 

(k)                
“Shares” means the shares of Common Stock issued pursuant to the Subscription Agreements and issuable
upon exercise of the Warrants.

 

(l)                  
“Trigger Date” means the closing of the minimum offering of 1,000,000 Units (as such terms are defined
in the PPM).

 

(m)              
“Warrants” means the warrants to purchase Common Stock issued pursuant to the Subscription Agreement
and issued to any broker-dealers as placement agent compensation as contemplated by the PPM.

 

1.2             Company
Registration.

 

(a)                
On or prior to the Filing Date the Company shall prepare and file with the Commission a registration statement covering
the Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. The registration statement shall
be on Form S-1 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-1, in which
case such registration shall be on another appropriate form in accordance herewith) and shall contain (unless otherwise directed
by Investors holding an aggregate of at least 75% of the Registrable Securities on a fully diluted basis) substantially the “Plan
of Distribution” attached hereto as Annex A. The Company shall cause the registration statement to become effective
and remain effective as provided herein. The Company shall use commercially reasonable efforts to cause the registration statement
to be declared effective under the Securities Act as soon as possible and, in any event, by the Effectiveness Date. The Company
shall use commercially reasonable efforts to keep the registration statement continuously effective under the Securities Act for
a period of 12 months, unless all Registrable Securities covered by such registration statement have been sold, or may be sold
without the requirement to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule
144, as determined by the counsel to the Company (the “Effectiveness Period”).

 

(b)                
The Company shall pay to Investors a fee of one percent (1%) per month of the Investors’ investment, payable in cash,
for every thirty (30) day period up to a maximum of ten percent (10%), (i) following the Filing Date that the registration statement
has not been filed and (ii) following the Effectiveness Date that the registration statement has not been initially declared effective;
provided, however, that the Company shall not be obligated to pay any such liquidated damages if the Company is unable
to fulfill its registration obligations as a result of rules, regulations, positions or releases issued or actions taken by the
Commission pursuant to its authority with respect to “Rule 415”, and the Company registers at such time the maximum
number of shares of Common Stock permissible upon consultation with the staff of the Commission; provided, further,
that the Company shall not be obligated to pay any liquidated damages at any time following the one year anniversary of the Trigger
Date.

 

(c)                
If during the Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the number of shares
of Common Stock then registered in a registration statement, the Company shall file as soon as reasonably practicable an additional
registration statement covering the resale of not less than the number of such Registrable Securities.

 

    	2

    	 

    

 

(d)                
The Company shall bear and pay all expenses incurred in connection with any registration, filing or qualification of Registrable
Securities with respect to the registrations pursuant to this Section 1.2 for each Investor, including (without limitation) all
registration, filing and qualification fees, printer’s fees, accounting fees and fees and disbursements of counsel for the
Company, but excluding any brokerage or underwriting fees, discounts and commissions relating to Registrable Securities and fees
and disbursements of counsel for the Investors.

 

(e)                
If at any time during the Effectiveness Period there is not an effective registration statement covering all of the Registrable
Securities, then the Company shall notify each Investor in writing at least fifteen (15) days prior to the filing of any registration
statement under the Securities Act, in connection with a public offering of shares of Common Stock (including, but not limited
to, registration statements relating to secondary offerings of securities of the Company but excluding any registration statements
(i) on Form S-4 or S-8 (or any successor or substantially similar form), or of any employee stock option, stock purchase or compensation
plan or of securities issued or issuable pursuant to any such plan, or a dividend reinvestment plan, (ii) otherwise relating to
any employee, benefit plan or corporate reorganization or other transactions covered by Rule 145 promulgated under the Securities
Act, or (iii) on any registration form which does not permit secondary sales or does not include substantially the same information
as would be required to be included in a registration statement covering the resale of the Registrable Securities) and will afford
each Investor an opportunity to include in such registration statement all or part of the Registrable Securities held by such Investor.
In the event an Investor desires to include in any such registration statement all or any part of the Registrable Securities held
by such Investor, the Investor shall within ten (10) days after the above-described notice from the Company, so notify the Company
in writing, including the number of such Registrable Securities such Investor wishes to include in such registration statement.
If an Investor decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company
such Investor shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration
statement or registration statements as may be filed by the Company with respect to the offering of the securities, all upon the
terms and conditions set forth herein.

 

(f)                 
Investor agrees that upon receipt of a notice from the Company of the occurrence of any event
of the kind described in Section 1.3(f)(ii) through (iv), Investor will forthwith discontinue disposition of such Registrable Securities
pursuant to a registration statement hereunder until it is advised in writing by the Company that the use of the applicable prospectus
(as it may have been supplemented or amended) may be resumed. 

 

(g)                
Investor covenants and agrees that it will comply with the prospectus delivery requirements of
the Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to a registration statement.

 

1.3             Obligations of the Company. Whenever required under this Section 1 to affect
the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

 

(a)                
Prepare and file with the Commission a registration statement with respect to such Registrable Securities and use commercially
reasonable efforts to cause such registration statement to become effective and to keep such registration statement effective during
the Effectiveness Period.

 

(b)                
Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used
in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect
to the disposition of all securities covered by such registration statement.

 

(c)                
Furnish to the Investors such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with
the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition
of Registrable Securities owned by them (provided that the Company would not be required to print such prospectuses if readily
available to Investors from any electronic service, such as on the EDGAR filing database maintained at www.sec.gov).

 

    	3

    	 

    

 

(d)                
Use commercially reasonable efforts to register and qualify the securities covered by such registration statement under
such other securities’ or blue sky laws of such jurisdictions as shall be reasonably requested by the Investors; provided
that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a
general consent to service of process in any such states or jurisdictions.

 

(e)                
In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement,
in usual and customary form, with the managing underwriter(s) of such offering (each Investor participating in such underwriting
shall also enter into and perform its obligations under such an agreement).

 

(f)                 
Promptly notify each Investor holding Registrable Securities covered by such registration statement at any time when (i)
with respect to a registration statement or any post-effective amendment, when the same has become effective; (ii) of the issuance
by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of a registration
statement covering any or all of the Registrable Securities; (iii) of the receipt by the Company of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction;
or (iv) of the occurrence of any event or passage of time that makes the financial statements included in a registration statement
ineligible for inclusion therein or any statement made in a registration statement or prospectus or any document incorporated or
deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to a registration
statement, prospectus or other documents so that, in the case of a registration statement or the prospectus, as the case may be,
it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. Any and all
of such information contemplated by subparagraphs (i) through (iv) shall remain confidential to each Investor until such information
otherwise becomes public, unless disclosure by an Investor is required by law.

 

(g)                
Cause all such Registrable Securities registered pursuant hereto to be listed on each securities exchange or nationally
recognized quotation system on which similar securities issued by the Company are then listed; and

 

(h)                
Provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for
all such Registrable Securities, in each case not later than the effective date of such registration.

 

1.4             Furnish Information. It shall be a condition precedent to the Company’s
obligations to take any action pursuant to this Section 1 with respect to the Registrable Securities of any selling Investor that
such Investor shall furnish to the Company such information regarding such Investor, the Registrable Securities held by such Investor,
and the intended method of disposition of such securities in the form attached to this Agreement as Annex B, or as otherwise reasonably
required by the Company or the managing underwriters, if any, to effect the registration of such Investor’s Registrable Securities.

 

1.5             Delay of Registration. No Investor shall have any right to obtain or seek an
injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect
to the interpretation or implementation of this Section 1.

 

    	4

    	 

    

 

1.6             Indemnification.

 

(a)                
To the extent permitted by law, the Company will indemnify and hold harmless each Investor, any underwriter (as defined
in the Securities Act) for such Investor and each person, if any, who controls such Investor or underwriter within the meaning
of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities (joint or several) to which any of
the foregoing persons may become subject under the Securities Act, the Exchange Act or other federal or state securities law, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following
statements, omissions or violations (collectively, a “Violation”): (i) any untrue statement or alleged untrue
statement of a material fact contained in a registration statement, including any preliminary prospectus or final prospectus contained
therein or any amendments or supplements thereto (collectively, the “Filings”), (ii) the omission or alleged
omission to state in the Filings a material fact required to be stated therein, or necessary to make the statements therein not
misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities
law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law; and the Company
will pay any legal or other expenses reasonably incurred by any person to be indemnified pursuant to this Section 1.6(a) in connection
with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity
agreement contained in this Section 1.6(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability
or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld),
nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises
out of or is based upon a Violation that occurs either in reliance upon and in conformity with written information furnished by
the Investor expressly for use in connection with such registration or based on the Investor’s sale of Registrable Securities
in breach of its covenants in Section 1.2(f) or 1.2(g).

 

(b)                
To the extent permitted by law, each Investor will indemnify and hold harmless the Company, each of its directors, each
of its officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of
the Securities Act or the Exchange Act, any underwriter, any other Investor selling securities in such registration statement and
any controlling person of any such underwriter or other Investor, against any losses, claims, damages or liabilities (joint or
several) to which any of the foregoing persons may become subject under the Securities Act, the Exchange Act or other federal or
state securities law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are
based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs either in reliance upon
and in conformity with written information furnished by such Investor expressly for use in connection with such registration or
based on the Investor’s sale of Registrable Securities in breach of its covenants in Section 1.2(f) or 1.2(g); and each such
Investor will pay any legal or other expenses reasonably incurred by any person to be indemnified pursuant to this Section 1.6(b)
in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however,
that the indemnity agreement contained in this Section 1.6(b) shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability or action if such settlement is effected without the consent of the Investor (which consent shall not be unreasonably
withheld); provided, however, in no event shall any indemnity under this subsection 1.6(b) exceed the net proceeds
received by such Investor upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

(c)                
Promptly after receipt by an indemnified party under this Section 1.6 of notice of the commencement of any action (including
any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party
under this Section 1.6, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party
shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however,
that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel)
shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation
of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing
interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver
written notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially prejudicial
to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this
Section 1.6, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that
it may have to any indemnified party otherwise than under this Section 1.6.

 

    	5

    	 

    

 

(d)                
If the indemnification provided for in Sections 1.6(a) and (b) is held by a court of competent jurisdiction to be unavailable
to an indemnified party with respect to any loss, claim, damage or expense referred to herein, then the indemnifying party, in
lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party
as a result of such loss, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying
party on the one hand and of the indemnified party on the other in connection with the statements or omissions or alleged statements
or omissions that resulted in such loss, liability, claim or expense as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact relates to information supplied by the indemnifying party or
by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission. In no event shall any Investor be required to contribute an amount in excess of the net proceeds
received by such Investor upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

(e)                
The obligations of the Company and Investors under this Section 1.6 shall survive the completion of any offering of Registrable
Securities in a registration statement under this Section 1, and otherwise.

 

1.7             Reports
Under Securities Exchange Act. With a view to making available the benefits of certain rules
and regulations of the Commission, including Rule 144, that may at any time permit an Investor to sell securities of the Company
to the public without registration or pursuant to a registration on Form S-1, the Company agrees to:

 

(a)                
make and keep public information available, as those terms are understood and defined in Rule 144, at all times after ninety
(90) days after the Trigger Date;

 

(b)                
take such action, including the voluntary registration of its Common Stock under Section 12 of the Exchange Act, as is necessary
to enable the Investors to utilize Form S-1 for the sale of their Registrable Securities, such action to be taken as soon as practicable
after the end of the fiscal year in which the registration statement is declared effective;

 

(c)                
file with the Commission in a timely manner all reports and other documents required of the Company under the Securities
Act and the Exchange Act; and

 

(d)                
furnish to any Investor, so long as the Investor owns any Registrable Securities, forthwith upon request (i) a written statement
by the Company that it has complied with the reporting requirements of Rule 144 (at any time after ninety (90) calendar days after
the Trigger Date), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements),
or that it qualifies as a registrant whose securities may be resold pursuant to Form S-1 (at any time after it so qualifies), (ii)
a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company,
and (iii) such other information as may be reasonably requested in availing any Investor of any rule or regulation of the Commission
that permits the selling of any such securities without registration or pursuant to such form.

 

1.8             Transfer or Assignment of Registration Rights. The rights to cause the Company
to register Registrable Securities pursuant to this Section 1 may be transferred or assigned, but only with all related obligations,
by an Investor to a transferee or assignee who (a) acquires at least 50,000 Shares and Warrants to acquire at least 25,000 Shares
(subject to appropriate adjustment for stock splits, stock dividends and combinations) from such transferring Investor, unless
waived in writing by the Company, or (b) holds Registrable Securities immediately prior to such transfer or assignment; provided,
that in the case of (a), (i) prior to such transfer or assignment, the Company is furnished with written notice stating the name
and address of such transferee or assignee and identifying the securities with respect to which such registration rights are being
transferred or assigned, (ii) such transferee or assignee agrees in writing to be bound by and subject to the terms and conditions
of this Agreement and (iii) such transfer or assignment shall be effective only if immediately following such transfer or assignment
the further disposition of such securities by the transferee or assignee is restricted under the Securities Act.

 

    	6

    	 

    

 

2.             Legend.

 

(a)                
Each certificate representing Shares of Common Stock held by the Investors shall be endorsed with the following legend:

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH
RESPECT TO SUCH SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THIS CERTIFICATE THAT AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE ACT IS AVAILABLE WITH RESPECT TO SUCH TRANSFER. ANY SUCH TRANSFER MAY ALSO BE SUBJECT
TO COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS.”

 

(b)                
The legend set forth above shall be removed, and the Company shall issue a certificate without such legend to the transferee
of the Shares represented thereby, if, unless otherwise required by state securities laws, (i) such Shares have been sold under
an effective registration statement under the Securities Act, or (ii) such holder provides the Company with reasonable assurance
that the Shares are being sold, assigned or transferred pursuant to Rule 144 or Rule 144A under the Securities Act.

 

3.             Miscellaneous.

 

3.1             Governing
Law. The parties hereby agree that any dispute which may arise between them arising out of or
in connection with this Agreement shall be adjudicated only before a federal court located in the State of New York and they hereby
submit to the exclusive jurisdiction of the federal and state courts of the State of New York 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 Agreement or any acts or omissions relating to the registration 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,
in care of the address set forth below or such other address as the undersigned shall furnish in writing to the other. 

 

3.2             Waivers and Amendments. This Agreement may be terminated and any term of this
Agreement may be amended or waived (either generally or in a particular instance and either retroactively or prospectively) with
the written consent of the Company and Investors holding at least a majority of the Registrable Securities then outstanding (the
“Majority Investors”). Notwithstanding the foregoing, additional parties may be added as Investors under this Agreement,
and the definition of Registrable Securities expanded, with the written consent of the Company and the Majority Investors. No such
amendment or waiver shall reduce the aforesaid percentage of the Registrable Securities, the holders of which are required to consent
to any termination, amendment or waiver without the consent of the record holders of all of the Registrable Securities. Any termination,
amendment or waiver affected in accordance with this Section 3.2 shall be binding upon each holder of Registrable Securities then
outstanding, each future holder of all such Registrable Securities and the Company.

 

3.3             Successors and Assigns. Except as otherwise expressly provided herein, the provisions
of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators
of the parties hereto.

 

3.4             Entire Agreement. This Agreement constitutes the full and entire understanding
and agreement among the parties with regard to the subject matter hereof, and no party shall be liable or bound to any other party
in any manner by any warranties, representations or covenants except as specifically set forth herein.

 

    	7

    	 

    

 

3.5             Notices. All notices and other communications required or permitted under this
Agreement shall be in writing and shall be delivered personally by hand or by overnight courier, mailed by United States first-class
mail, postage prepaid, sent by facsimile or sent by electronic mail directed (a) if to an Investor, at such Investor’s address,
facsimile number or electronic mail address set forth in the Company’s records, or at such other address, facsimile number
or electronic mail address as such Investor may designate by ten (10) days’ advance written notice to the other parties hereto
or (b) if to the Company, to its address, facsimile number or electronic mail address set forth on its signature page to this Agreement
and directed to the attention of the chief executive officer, or at such other address, facsimile number or electronic mail address
as the Company may designate by ten (10) days’ advance written notice to the other parties hereto. All such notices and other
communications shall be effective or deemed given upon delivery, on the date that is three (3) days following the date of mailing,
upon confirmation of facsimile transfer or upon confirmation of electronic mail delivery.

 

3.6             Interpretation. The words “include,” “includes” and
“including” when used herein shall be deemed in each case to be followed by the words “without limitation.”
The titles and subtitles used in this Agreement are used for convenience only and are not considered in construing or interpreting
this Agreement.

 

3.7             Severability. If one or more provisions of this Agreement are held to be unenforceable
under applicable law, such provision shall be excluded from this Agreement, and the balance of the Agreement shall be interpreted
as if such provision were so excluded, and shall be enforceable in accordance with its terms.

 

3.8             Independent Nature of Investors’ Obligations and Rights. The obligations
of each Investor hereunder are several and not joint with the obligations of any other Investor hereunder, and no Investor shall
be responsible in any way for the performance of the obligations of any other Investor hereunder. Nothing contained herein or in
any other agreement or document delivered at any closing, and no action taken by any Investor pursuant hereto or thereto, shall
be deemed to constitute the Investors as a partnership, an association, a joint venture or any other kind of entity, or create
a presumption that the Investors are in any way acting in concert with respect to such obligations or the transactions contemplated
by this Agreement. Each Investor shall be entitled to protect and enforce its rights, including without limitation the rights arising
out of this Agreement, and it shall not be necessary for any other Investor to be joined as an additional party in any proceeding
for such purpose.

 

3.9             Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be an original, but all of which together shall constitute one instrument.

 

3.10           Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction
of this Agreement may be executed by one or more parties hereto, and an executed copy of this Agreement may be delivered by one
or more parties hereto by facsimile or similar electronic transmission device pursuant to which the signature of or on behalf of
such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the
request of any party hereto, all parties hereto agree to execute an original of this Agreement as well as any facsimile, telecopy
or other reproduction hereof.

 

[SIGNATURE PAGE FOLLOWS]

 

 

    	8

    	 

    

 

IN WITNESS WHEREOF,
the Company has caused this Agreement to be executed by its duly authorized officer, as of the date, month and year first set forth
above.

 

“Company”

 

PLAYBUTTON ACQUISITION CORP.

 

By:________________________________

      Adam Tichauer

      Chief Executive Officer

 

Address for notice:

 

37 W. 28th Street, 3rd Floor

New York, New York 10001

Email: adam@playbutton.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[COMPANY SIGNATURE PAGE TO REGISTRATION
RIGHTS AGREEMENT]

 

    	9

    	 

    

 

IN WITNESS WHEREOF,
the undersigned Investor has executed this Agreement as of the date, month and year that such Investor became the owner of Registrable
Securities.

 

“Investor”

 

___________________________________

 

By:________________________________

Name

Title:

 

 

 

Address:

 

___________________________________

 

___________________________________

___________________________________

Telephone:__________________________

Facsimile:___________________________

 

Email:______________________________

 

 

 

 

 

 

 

[INVESTOR COUNTERPART SIGNATURE PAGE
TO 

REGISTRATION RIGHTS AGREEMENT]

 

    	10

    	 

    

 

Annex A

 

Plan of Distribution

 

Each selling stockholder
of the common stock and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of
their shares of common stock on the [NAME OF PRINCIPAL TRADING MARKET] or any other stock exchange, market or trading facility
on which the shares are traded or in private transactions. These sales may be at fixed or negotiated prices. A selling stockholder
may use any one or more of the following methods when selling shares:

 

		·	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

		·	block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the
block as principal to facilitate the transaction;

 

		·	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		·	an exchange distribution in accordance with the rules of the applicable exchange;

 

		·	privately negotiated transactions;

 

		·	settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a
part;

 

		·	broker-dealers may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per
share;

 

		·	through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

 

		·	a combination of any such methods of sale; or

 

		·	any other method permitted pursuant to applicable law.

 

The selling stockholders
may also sell shares under Rule 144 under the Securities Act of 1933, as amended, if available, rather than under this prospectus.

 

Broker-dealers engaged
by the selling stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser)
in amounts to be negotiated, but, except as set forth in a supplement to this prospectus, in the case of an agency transaction
not in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction
a markup or markdown in compliance with FINRA IM-2440.

 

In connection with
the sale of the common stock or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions
they assume. The selling stockholders may also sell shares of the common stock short and deliver these securities to close out
their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling
stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation
of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares
offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus
(as supplemented or amended to reflect such transaction).

 

    	11

    	 

    

 

The selling stockholders
and any broker-dealers or agents that are involved in selling the shares may be deemed to be “underwriters” within
the meaning of the Securities Act of 1933, as amended, in connection with such sales. In such event, any commissions received by
such broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions
or discounts under the Securities Act of 1933, as amended. Each selling stockholder has informed us that it does not have any written
or oral agreement or understanding, directly or indirectly, with any person to distribute the common stock. In no event shall any
broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed eight percent (8%).

 

We are required to
pay certain fees and expenses incurred by us incident to the registration of the shares. We have agreed to indemnify the selling
stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act of 1933, as
amended.

 

Because selling stockholders
may be deemed to be “underwriters” within the meaning of the Securities Act of 1933, as amended, they will be subject
to the prospectus delivery requirements of the Securities Act of 1933, as amended, including Rule 172 thereunder. In addition,
any securities covered by this prospectus which qualify for sale pursuant to Rule 144 under the Securities Act of 1933, as amended
may be sold under Rule 144 rather than under this prospectus. There is no underwriter or coordinating broker acting in connection
with the proposed sale of the resale shares by the selling stockholders.

 

We agreed to keep this
prospectus effective until the earlier of (i) the date on which the shares may be resold by the selling stockholders without registration
and without the requirement to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to
Rule 144 or (ii) all of the shares have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other
rule of similar effect. The resale shares will be sold only through registered or licensed brokers or dealers if required under
applicable state securities laws. In addition, in certain states, the resale shares may not be sold unless they have been registered
or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and
is complied with.

 

Under applicable rules
and regulations under the Securities Exchange Act of 1934, as amended, any person engaged in the distribution of the resale shares
may not simultaneously engage in market making activities with respect to the common stock for the applicable restricted period,
as defined in Regulation M, prior to the commencement of the distribution. In addition, the selling stockholders will be subject
to applicable provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder, including
Regulation M, which may limit the timing of purchases and sales of shares of the common stock by the selling stockholders or any
other person. We will make copies of this prospectus available to the selling stockholders and have informed them of the need to
deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172
under the Securities Act of 1933, as amended).

 

    	12

    	 

    

 

Annex B

 

PLAYBUTTON ACQUISITION CORP.

 

Selling Securityholder Notice and Questionnaire

 

The undersigned beneficial owner of common
stock (the “Registrable Securities”) of Playbutton Acquisition Corp., a Delaware corporation (the “Company”),
understands that the Company has filed or intends to file with the Securities and Exchange Commission (the “Commission”)
a registration statement (the “Registration Statement”) for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities, in accordance with
the terms of the Registration Rights Agreement (the “Registration Rights Agreement”) to which this document
is annexed. A copy of the Registration Rights Agreement is available from the Company upon request at the address set forth below.
All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement.

 

Certain legal consequences arise from being
named as a selling securityholder in the Registration Statement and the related prospectus. Accordingly, holders and beneficial
owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named
or not being named as a selling securityholder in the Registration Statement and the related prospectus.

 

NOTICE

 

The undersigned beneficial owner (the “Selling
Securityholder”) of Registrable Securities hereby elects to include the Registrable Securities owned by it in the Registration
Statement.

 

The undersigned hereby provides the following information to
the Company and represents and warrants that such information is accurate:

 

QUESTIONNAIRE

 

1.Name.

 

(a)Full Legal Name of Selling Securityholder

 

 

 

(b)Full Legal Name of Registered Holder
(if not the same as (a) above) through which Registrable Securities are held:

 

 

 

(c)Full Legal Name of Natural Control
Person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose of the securities
covered by this Questionnaire):

 

2.Address for Notices to Selling Securityholder:

 

 

 

 

 

 

  

	Telephone: 
	Fax: 
	Contact Person: 

 

    	13

    	 

    

 

3.Broker-Dealer Status:

 

(a)Are you a broker-dealer?

 

Yes                    No

 

(b)If “yes” to Section
3(a), did you receive your Registrable Securities as compensation for investment banking services to the Company?

 

Yes                    No

 

Note:If “no” to Section
3(b), the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

(c)Are you an affiliate of a broker-dealer?

 

Yes                    No

 

(d)If you are an affiliate of a broker-dealer,
do you certify that you purchased the Registrable Securities in the ordinary course of business, and at the time of the purchase
of the Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to
distribute the Registrable Securities?

 

Yes                    No

 

Note:If “no” to Section
3(d), the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

4. Beneficial Ownership of Securities of the Company Owned
by the Selling Securityholder.

 

Except as set forth below in this Item
4, the undersigned is not the beneficial or registered owner of any securities of the Company other than the securities issuable
pursuant to the Purchase Agreement.

  

(a)Type and Amount of other securities
beneficially owned by the Selling Securityholder:

 

 

 

 

 

5. Relationships with the Company:

 

Except as set forth below, neither the
undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the equity securities
of the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors
or affiliates) during the past three years.

 

State any exceptions here:

 

 

 

 

  

The undersigned agrees to promptly notify
the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof at any
time while the Registration Statement remains effective.

 

    	14

    	 

    

 

By signing below, the undersigned consents
to the disclosure of the information contained herein in its answers to Items 1 through 5 and the inclusion of such information
in the Registration Statement and the related prospectus and any amendments or supplements thereto. The undersigned understands
that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration Statement
and the related prospectus.

 

IN WITNESS WHEREOF the undersigned, by
authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized
agent.

 

Date: ________________________

Beneficial Owner:

 

By:_________________________________

      Name:

      Title:

 

PLEASE FAX A COPY OF THE COMPLETED AND
EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 

Playbutton Acquisition Corp.

37 W. 28th Street, 3rd
Floor

New York, New York 10001

Email: adam@playbutton.com

 

 

 

 

 

 

 

 

 

 

    	15

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