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Unassociated Document

    ADAMIS
PHARMACEUTICALS CORPORATION

    STOCK
OPTION GRANT NOTICE

    INITIAL
GRANT

    2009
EQUITY INCENTIVE PLAN

     

    Adamis
Pharmaceuticals Corporation (the "Company"),
pursuant to its 2009 Equity Incentive Plan (the "Plan"),
hereby grants to Optionholder an option to purchase the number of shares of the
Company's Common Stock set forth below.  This option is subject to all
of the terms and conditions as set forth herein and in the Option Agreement, the
Plan and the Notice of Exercise, all of which are attached hereto and
incorporated herein in their entirety.  Capitalized terms not
otherwise defined herein shall have the meanings set forth in the Plan or the
Option Agreement.

     

    
      	 	 	      
              Optionholder:

              

              Date
      of Grant (“Grant
      Date”):

              

              Vesting
      Commencement Date: Grant
      Date

              

              Number of Shares Subject to Option
      (“Option
      Shares”):

              

              Exercise
      Price (Per Share): $____

              

              Total
      Exercise Price:

              

              Expiration
      Date: The day before the 10th
      anniversary of the Grant Date.

            
	 	 	 
	
               

              Type
      of Grant:

            	 
      	
               

              Nonstatutory
      Stock Option

            
	
               

              Exercise Schedule:

            	 
      	
               

              Same
      as Vesting Schedule

            
	
               

              Vesting
      Schedule:

            	 
      	
               

              1⁄2 of the Option Shares
      vest on the Grant Date.  The remaining 1⁄2 of the Option Shares
      shall vest over the three years from the Grant Date at the rate of
      1/36th
      of Option Shares each month.

            
	
               

              Payment:

            	 
      	
               

              By
      one or a combination of the following methods of payment (described in the
      Option Agreement):

            
	 
      	 
      	
              o

            	 
      	
              Cash
      or check

            
	 
      	 
      	
              o

            	 
      	
              Pursuant
      to a Regulation T program (cashless exercise) if the shares are
      publicly traded

            
	 
      	 
      	
              o

            	 
      	
              Delivery
      of already-owned shares if the shares are publicly
  traded

            
	 
      	 
      	
              o

            	 
      	
              By
      net exercise, if the Company has established procedures for net
      exercise

            

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    Additional
Terms/Acknowledgements:    The undersigned
Optionholder acknowledges receipt of, and understands and agrees to, this Stock
Option Grant Notice, the Option Agreement and the Plan.  Optionholder
further acknowledges that as of the Date of Grant, this Stock Option Grant
Notice, the Option Agreement and the Plan set forth the entire understanding
between Optionholder and the Company regarding the acquisition of stock in the
Company and supersede all prior oral and written agreements on that subject with
the exception of (i) options and other equity awards previously granted and
delivered to Optionholder under the Plan or any other equity incentive plan of
the Company, and (ii) the following agreements only:

     

    
      	
              OTHER AGREEMENTS:

            	 
      	
                  

            
	 
      	 
      	
                  

            

    

    

    
      	
              OPTIONHOLDER:

            	 
      	
              ADAMIS
      PHARMACEUTICALS CORPORATION

            
	 	 	 
	
               

            	 
      	
              By:

            	 
      	
               

            
	      
              Signature

            	 	 	 	      
              Signature

            
	
              Date:

            	
               

            	 
      	
              Title:

            	 
      	
               

            
	
              Residence
      Address:

            	
               

            	 
      	
              Date:

            	 
      	
               

            
	 	 	 	 	 	 
	
               

            	 
      	 
      	 
      	 
      

    

    ATTACHMENTS:    Option
Agreement, 2009 Equity Incentive Plan and Notice of Exercise

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      ADAMIS
PHARMACEUTICAL CORPORATION

      2009
EQUITY INCENTIVE PLAN

       

      OPTION
AGREEMENT

      (INCENTIVE
STOCK OPTION OR NONSTATUTORY STOCK OPTION)

       

       

      Pursuant
to your Stock Option Grant Notice ("Grant
Notice") and this Option Agreement, Adamis Pharmaceuticals Corporation
(the "Company")
has granted you an option under its 2009 Equity Incentive Plan (the "Plan") to
purchase the number of shares of the Company's Common Stock indicated in your
Grant Notice at the exercise price indicated in your Grant Notice. Defined terms
not explicitly defined in this Option Agreement but defined in the Plan shall
have the same definitions as in the Plan.  The number of shares
indicated in the Grant Notice gives effect to the reverse stock split of the
Company’s common stock effected on April 1, 2009 and reflects post-reverse split
shares, and the exercise price per share indicated in the Grant Notice reflects
the exercise price per post-reverse stock split share of Common
Stock.

       

      The
details of your option are as follows:

       

      1. VESTING. Subject to the
limitations contained herein, your option will vest as provided in your Grant
Notice, provided that vesting will cease upon the termination of your Continuous
Service.  In addition, if the Company is subject to a Change in
Control before your Continuous Service terminates, then all of the unvested
shares subject to this option shall become fully vested and exercisable
immediately prior to the effective date of such Change in Control.

      

      2. NUMBER OF SHARES AND EXERCISE
PRICE.  The number of shares of Common Stock subject to your
option and your exercise price per share referenced in your Grant Notice may be
adjusted from time to time for any Capitalization Adjustment, as provided in the
Plan.

      

      3. METHOD OF
PAYMENT.  Payment of the exercise price is due in full upon
exercise of all or any part of your option. You may elect to make payment of the
exercise price in cash or by check or in any other manner permitted by your
Grant Notice, which may include one or more of the
following:

      

      (a) In
the Company's sole discretion at the time your option is exercised and provided
that at the time of exercise the Common Stock is publicly traded and quoted
regularly in The Wall Street
Journal, pursuant to a program developed under Regulation T as
promulgated by the Federal Reserve Board that, prior to the issuance of Common
Stock, results in either the receipt of cash (or check) by the Company or the
receipt of irrevocable instructions to pay the aggregate exercise price to the
Company from the sales proceeds.

      

      (b) In
the Company's sole discretion at the time your option is exercised and provided
that at the time of exercise the Common Stock is publicly traded and quoted
regularly in The Wall Street
Journal, by delivery of already-owned shares of Common Stock either that
you have held for the period required to avoid a charge to the Company's
reported earnings (generally six months) or that you did not acquire, directly
or indirectly from the Company, that are owned free and clear of any liens,
claims, encumbrances or security interests, and that are valued at Fair Market
Value on the date of exercise. "Delivery" for these purposes, in the sole
discretion of the Company at the time you exercise your option, shall include
delivery to the Company of your attestation of ownership of such shares of
Common Stock in a form approved by the Company. Notwithstanding the foregoing,
you may not exercise your option by tender to the Company of Common Stock to the
extent such tender would violate the provisions of any law, regulation or
agreement restricting the redemption of the Company's stock.

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      

      (c) If
the Company has established procedures for net exercise of options, then by a
"net exercise" arrangement pursuant to which the Company will reduce the number
of shares of Common Stock issued upon exercise by the largest whole number of
shares with a Fair Market Value that does not exceed the aggregate exercise
price; provided,
however, that the Company shall accept a cash or other payment from you
to the extent of any remaining balance of the aggregate exercise price not
satisfied by such reduction in the number of whole shares to be issued; provided, further, that
shares of Common Stock will no longer be outstanding under your option and will
not be exercisable thereafter to the extent that (i) shares are used to pay
the exercise price pursuant to the "net exercise," (ii) shares are
delivered to you as a result of such exercise, and (iii) shares are
withheld to satisfy tax withholding obligations.

      

      (d) In
any other form of legal consideration that may be acceptable to the
Board.

      

      4. WHOLE SHARES.  You
may exercise your option only for whole shares of Common Stock.

      

      5. SECURITIES LAW
COMPLIANCE.  Notwithstanding anything to the contrary contained
herein, you may not exercise your option unless the shares of Common Stock
issuable upon such exercise are then registered under the Securities Act or, if
such shares of Common Stock are not then so registered, the Company has
determined that such exercise and issuance would be exempt from the registration
requirements of the Securities Act. The exercise of your option must also comply
with other applicable laws and regulations governing your option, and you may
not exercise your option if the Company determines that such exercise would not
be in material compliance with such laws and regulations.

      

      6. TERM.  You may not
exercise your option before the commencement or after the expiration of its term
or after the term expires.  The term of your option commences on the
Date of Grant and expires upon the earliest of the following:

      

      (a)
immediately upon the termination of your Continuous Service for
Cause;

      

      (b)
twelve (12) months after the termination of your Continuous Service for any
reason (including after the termination of your Continuous Service in connection
with a Change in Control where all of the unvested shares subject to your option
become fully vested and exercisable immediately before the effective date of
such Change in Control in accordance with the provisions of Section 1
above), other than your Disability or death (the "Twelve Month
Post-Termination Exercise Period");

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      (c)
twelve (12) months after the termination of your Continuous Service due to
your Disability;

      

      (d)
twelve (12) months after your death if you die either during your
Continuous Service or within three (3) months after your Continuous Service
terminates;

      

      (e) the
Expiration Date indicated in your Grant Notice;

      

      (f) the
day before the tenth (10th) anniversary of the Date of Grant; or

      

      (g)  otherwise
as may be provided Section 13.7 of the Plan.

       

      In
addition, if your sale of the shares acquired upon exercise of your option would
subject you to suit under Section 16(b) of the Exchange Act, your option
shall remain exercisable for an additional period until the earlier of
(i) the expiration of a period of ten (10) days after the date on
which a sale of the shares by you would no longer be subject to such suit, or
(ii) the Expiration Date indicated in your Grant Notice.

       

      7. EXERCISE.    

      

      (a) You
may exercise the vested portion of your option (and the unvested portion of your
option if your Grant Notice so permits) during its term by delivering a Notice
of Exercise (in a form designated by the Company) together with the exercise
price to the Secretary of the Company, or to such other person as the Company
may designate, during regular business hours, together with such additional
documents as the Company may then require.

      

      (b) By
exercising your option you agree that, as a condition to any exercise of your
option, the Company may require you to enter into an arrangement providing for
the payment by you to the Company of any tax withholding obligation of the
Company arising by reason of (1) the exercise of your option, (2) the
lapse of any substantial risk of forfeiture to which the shares of Common Stock
are subject at the time of exercise, or (3) the disposition of shares of
Common Stock acquired upon such exercise.

      

      8. TRANSFERABILITY.    

      

      (a) Restrictions on
Transfer.  Your option is not transferable except by will or by
the laws of descent and distribution and shall be exercisable during your
lifetime only by you; provided, however, that the
Board may, in its sole discretion, permit you to transfer your option in a
manner that is not prohibited by applicable tax and/or securities laws upon your
request.

      

      (b) Domestic Relations
Orders.  Notwithstanding the foregoing, your option may be
transferred pursuant to a domestic relations order.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      (c) Beneficiary
Designation.  Notwithstanding the foregoing, you may, by
delivering written notice to the Company, in a form provided by or otherwise
satisfactory to the Company, designate a third party who, in the event of your
death, shall thereafter be entitled to exercise your option.

      

      9. OPTION NOT A SERVICE
CONTRACT  Your option is not an employment or service contract,
and nothing in your option shall be deemed to create in any way whatsoever any
obligation on your part to continue in the employ of the Company or an
Affiliate, or of the Company or an Affiliate to continue your employment. In
addition, nothing in your option shall obligate the Company or an Affiliate,
their respective stockholders, Boards of Directors, Officers or Employees to
continue any relationship that you might have as a Director or Consultant for
the Company or an Affiliate.

      

      10. WITHHOLDING
OBLIGATIONS.    

      

      (a) At
the time you exercise your option, in whole or in part, or at any time
thereafter as requested by the Company, you hereby authorize withholding from
payroll and any other amounts payable to you, and otherwise agree to make
adequate provision as directed by the Company (including by means of a "cashless
exercise" pursuant to a program developed under Regulation T as promulgated
by the Federal Reserve Board to the extent directed by the Company), for any
sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or an Affiliate, if any, which arise in connection
with your option.

      

      (b) Upon
your request and subject to approval by the Company, in its sole discretion, and
compliance with any applicable conditions or restrictions of law, the Company
may withhold from fully vested shares of Common Stock otherwise issuable to you
upon the exercise of your option a number of whole shares of Common Stock having
a Fair Market Value, determined by the Company as of the date of exercise, not
in excess of the minimum amount of tax required to be withheld by
law.  Any adverse consequences to you arising in connection with such
share withholding procedure shall be your sole responsibility.

      

      (c) You
may not exercise your option unless the tax withholding obligations of the
Company and/or any Affiliate are satisfied. Accordingly, you may not be able to
exercise your option when desired even though your option is vested, and the
Company shall have no obligation to issue a certificate for such shares of
Common Stock or release such shares of Common Stock from any escrow provided for
herein unless such obligations are satisfied.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      11. PARACHUTE
PAYMENTS.    

      

      (a) If
any payment or benefit you would receive pursuant to a Change in Control from
the Company or otherwise ("Payment")
would (i) constitute a "parachute payment" within the meaning of
Section 280G of the Code, and (ii) but for this sentence, be subject
to the excise tax imposed by Section 4999 of the Code (the "Excise
Tax"), then such Payment shall be equal to the Reduced Amount. The
"Reduced Amount" shall be either (x) the largest portion of the Payment
that would result in no portion of the Payment being subject to the Excise Tax
or (y) the largest portion, up to and including the total, of the Payment,
whichever amount, after taking into account all applicable federal, state and
local employment taxes, income taxes, and the Excise Tax (all computed at the
highest applicable marginal rate), results in your receipt, on an after-tax
basis, of the greater amount of the Payment notwithstanding that all or some
portion of the Payment may be subject to the Excise Tax. If a reduction in
payments or benefits constituting "parachute payments" is necessary so that the
Payment equals the Reduced Amount, reduction shall occur in the following order
unless you elect in writing a different order (provided, however, that such
election shall be subject to Company approval if made on or after the effective
date of the event that triggers the Payment): reduction of cash payments;
cancellation of accelerated vesting of Stock Awards; reduction of employee
benefits. In the event that acceleration of vesting of Stock Award compensation
is to be reduced, such acceleration of vesting shall be cancelled in the reverse
order of the date of grant of your Stock Awards (i.e., earliest granted Stock
Award cancelled last) unless you elect in writing a different order for
cancellation.

      

      (b) The
accounting firm engaged by the Company for general audit purposes as of the day
prior to the effective date of the Change in Control shall perform the foregoing
calculations. If the accounting firm so engaged by the Company is serving as
accountant or auditor for the individual, entity or group effecting the Change
in Control, the Company shall appoint a nationally recognized accounting firm to
make the determinations required hereunder. The Company shall bear all expenses
with respect to the determinations by such accounting firm required to be made
hereunder.

      

      (c) The
accounting firm engaged to make the determinations hereunder shall provide its
calculations, together with detailed supporting documentation, to you and the
Company within fifteen (15) calendar days after the date on which your
right to a Payment is triggered (if requested at that time by you or the
Company) or such other time as requested by you or the Company. If the
accounting firm determines that no Excise Tax is payable with respect to a
Payment, either before or after the application of the Reduced Amount, it shall
furnish you and the Company with an opinion reasonably acceptable to you that no
Excise Tax will be imposed with respect to such Payment. Any good faith
determinations of the accounting firm made hereunder shall be final, binding and
conclusive upon you and the Company, except as specified below.

      

      (d) If,
notwithstanding any reduction described in this Section, the IRS determines that
you are liable for the Excise Tax as a result of the receipt of the payment of
benefits as described above, then you shall be obligated to pay back to the
Company, within thirty (30) days after a final IRS determination or in the
event that you challenge the final IRS determination, a final judicial
determination, a portion of the payment equal to the "Repayment Amount." The
Repayment Amount with respect to the payment of benefits shall be the smallest
such amount, if any, as shall be required to be paid to the Company so that your
net after-tax proceeds with respect to any payment of benefits (after taking
into account the payment of the Excise Tax and all other applicable taxes
imposed on such payment) shall be maximized. The Repayment Amount with respect
to the payment of benefits shall be zero if a Repayment Amount of more than zero
would not result in your net after-tax proceeds with respect to the payment of
such benefits being maximized. If the Excise Tax is not eliminated pursuant to
this paragraph, you shall pay the Excise Tax.

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

      (e)
Notwithstanding any other provision of this Section, if (i) there is a
reduction in the payment of benefits as described in this Section, (ii) the
IRS later determines that you are liable for the Excise Tax, the payment of
which would result in the maximization of your net after-tax proceeds
(calculated as if your benefits had not previously been reduced), and
(iii) you pay the Excise Tax, then the Company shall pay to you those
benefits which were reduced pursuant to this section contemporaneously or as
soon as administratively possible after you pay the Excise Tax so that your net
after-tax proceeds with respect to the payment of benefits is
maximized.

      

      12. NOTICES.  Any
notices provided for in your option or the Plan shall be given in writing and
shall be deemed effectively given upon receipt or, in the case of notices
delivered by mail by the Company to you, five (5) days after deposit in the
United States mail, postage prepaid, addressed to you at the last address you
provided to the Company.

      

      13. GOVERNING PLAN
DOCUMENT.  Your option is subject to all the provisions of the
Plan, the provisions of which are hereby made a part of your option, and is
further subject to all interpretations, amendments, rules and regulations, which
may from time to time be promulgated and adopted pursuant to the Plan. In the
event of any conflict between the provisions of your option and those of the
Plan, the provisions of the Plan shall control.

      

      [Remainder
of page intentionally left blank]

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      This Option Agreement has been executed
by the undersigned as of the date set forth in the Grant Notice.

       

       

      
        
          	
                  OPTIONHOLDER:

                	 
      	
                  ADAMIS
      PHARMACEUTICALS CORPORATION

                
	 	 	 
	
                   

                	 
      	
                  By:

                	 
      	
                   

                
	      
                  Signature

                	 	 	 	      
                  Signature

                
	
                  Date:

                	
                   

                	 
      	
                  Title:

                	 
      	
                   

                
	
                  Residence
      Address:

                	
                   

                	 
      	
                  Date:

                	 
      	
                   

                
	 	 	 	 	 	 
	
                   

                	 
      	 
      	 
      	 
      

        

         

        
          
             

          

          
            7

            
              

            

          

          
             

          

        

      

       

      ATTACHMENT II

       

      2009
EQUITY INCENTIVE PLAN

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      ATTACHMENT
III

       

      NOTICE
OF EXERCISE

       

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

       

      NOTICE
OF EXERCISE

       

      ADAMIS
PHARMACEUTICALS CORPORATION

      2658 Del
Mar Heights Rd., 555

      Del Mar,
CA 92014

       

      
        	 
      	 
      	
                Date of Exercise: 

              	
                 

              

      

       

      Ladies
and Gentlemen:

       

       

              This
constitutes notice under my stock option that I elect to purchase the number of
shares for the price set forth below.

       

      
        	 
      	
                Type
      of option (check one):

              	 
      	
                Incentive 

              	 
      	
                Nonstatutory 

              
	 
      	
                 

                Stock
      option grant date:

              	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                 

                Number
      of shares as to which option is exercised:

              	 
      	  	 
      	 
      	 
      	 
      
	 
      	
                 

                Certificates
      to be issued in name of:

              	 
      	  
      	 
      	 
      	 
      	 
      
	 
      	
                 

                Exercise
      price per share:

              	 
      	
                 

                $

              	  
      	 
      	 
      	 
      	 
      
	 
      	
                 

                Total
      exercise price:

              	 
      	
                 

                $

              	  
      	 
      	 
      	 
      	 
      
	 
      	
                 

                Payment
      delivered herewith:

              	 
      	
                 

                $

              	 
      	 
      	 
      	 
      	 
      
	 
      	
                 

                Form
      of payment:

              	 
      	
                 

                

              	
                 

                Cash
      or check

              	 
      	 
      
	 
      	 
      	 
      	
                

              	
                Pursuant
      to a Regulation T program (cashless exercise) if the shares are publicly
      traded

              	 
      	 
      
	 
      	 
      	 
      	
                

              	
                Delivery
      of already-owned shares if the shares are publicly traded

              	 
      	 
      
	 
      	 
      	 
      	
                

              	
                Net
      exercise if the Company has established procedures for net
      exercise

              	 
      	 
      

      

       

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

       

      By this
exercise, I agree (i) to provide such additional documents as you may
require pursuant to the terms of the 2009 Equity Incentive Plan, (ii) to
provide for the payment by me to you (in the manner designated by you) of your
withholding obligation, if any, relating to the exercise of this option, and
(iii) if this exercise relates to an incentive stock option, to notify you
in writing within fifteen (15) days after the date of any disposition of
any of the shares of Common Stock issued upon exercise of this option that
occurs within two (2) years after the date of grant of this option or
within one (1) year after such shares of Common Stock are issued upon
exercise of this option.

       

      I agree
that, if required by the Company (or a representative of the underwriters) in
connection with an underwritten registration of the offering of any securities
of the Company under the Securities Act, I will not sell or otherwise transfer
or dispose of any shares of Common Stock or other securities of the Company
during such period following the effective date of the registration statement of
the Company filed under the Securities Act as may be requested by the Company or
the representative of the underwriters. I further agree that the Company may
impose stop-transfer instructions with respect to securities subject to the
foregoing restrictions until the end of such period.

       

      
        
          	      
                  SUBMITTED
      BY:

                	 
      	
                        
                    ACCEPTED
      BY:

                  

                
	 	 	 
	 	 	      
                  ADAMIS
      PHARMACEUTICALS CORPORATION

                
	 	 	 
	
                   

                	 
      	
                  By:

                	 
      	
                   

                
	      
                        
                    Printed
      Name

                  

                	 	 	 	      
                  Signature

                
	 	 
      	
                  Title:

                	 
      	
                   

                
	
                   

                	 
      	
                  Date:

                	 
      	
                   

                
	      
                  Signature

                	 	 	 	 
	
                   

                	 
      	 
      	 
      	 
      

        

       

      
        
           

        

        
          11COMMONWEALTH
ASSOCIATES, LP

       

      June 3,
2008

       

      Aftersoft
Group, Inc.

      Regus
House, Herons Way 

      Chester
Business Park 

      Chester,
UK

      CH4
9QR

      Ian
Warwick

       

      
        	 	
                Re:

              	
                Consulting
      Agreement

              

      

       

      Gentlemen:

       

      This
letter agreement (this "Agreement") sets forth the understanding between
Commonwealth Associates, LP ("Commonwealth") and Aftersoft Group, Inc. (the
"Company") in connection with the engagement of Commonwealth by the Company to
render consulting advice to the Company and to act as the Company's exclusive
merger and acquisitions ("M&A") advisor as described below.

       

      SECTION
1: Services and
Duties

       

      Pursuant
to the terms and conditions set forth in this Agreement, Commonwealth proposes
to undertake the following activities:

       

      (a)        For
a period of eighteen (18) months from the date hereof (the "Term"), Commonwealth
shall provide advisory services to the Company under a monthly retainer as set
forth in Section 3(b) herein. The monthly retainer shall provide for the
following services by Commonwealth:

       

      
        	
                 
      

              	
                (i)

              	
                Advising
      the Company on its capital structure and any proposed capital raising
      activities;

              

      

       

      
        	
                 
      

              	
                (ii)

              	
                Assisting
      the Company in positioning itself in the public
  markets;

              

      

       

      
        	
                 
      

              	
                (iii)

              	
                Assisting
      the Company in conducting road show presentations to existing and
      prospective investors;

              

      

       

      
        	
                 
      

              	
                (iv)

              	
                Advising
      and assisting the Company in developing a general strategy for operational
      purposes;

              

      

       

      
        	
                 
      

              	
                (v)

              	
                Familiarization,
      to the extent deemed appropriate and feasible, with the business,
      operations, properties, financial condition, and prospects of the Company;
      and

              

      

       

      
        	
                 
      

              	
                (vi)

              	
                Such
      other financial advisory and investment banking services as may from time
      to time be agreed upon by Commonwealth and the
  Company.

              

      

       

      (b)        During
the Term, Commonwealth shall be the Company's exclusive M&A advisor. In the
event that the Company enters into a merger, acquisition, or sale of assets or
securities ("M&A Transaction"), the Company agrees to appoint Commonwealth
as the Company's exclusive advisor with respect to each M&A Transaction and
to pay to Commonwealth the fees as set forth in Section 3(c)
herein.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      SECTION
2: Term of the
Agreement; Termination

       

      (a)          This
Agreement shall be for a term of twenty-four (24) months.

       

      (b)          Either
Party may terminate this Agreement at any time in the event of a material breach
hereof by the other party. In addition, either Party may terminate this
Agreement, other than because of a material breach by the other party, at any
time upon ninety (90) days' prior written notice, without liability or
continuing obligation, except as set forth in the following
paragraph.

       

      (c)          The
termination of this Agreement shall not affect the compensation payable to or
reimbursement of expenses incurred by Commonwealth pursuant to this
Agreement.

       

      SECTION
3: Compensation and
Expenses.

       

      In
consideration for the services rendered by Commonwealth to the Company pursuant
to this Agreement, the Company shall compensate Commonwealth as
follows:

       

      (a)          Upon
execution hereof, Warrant to purchase up to three million (3,000,000) shares of
the Company's Common Stock, which Warrant shall be exercisable for five (5)
years at a price: (i) the lower of $.30; or (ii) the effective price for the
Company's shares resulting from the sale of approximately 28,631,622 shares of
Auto Data Network, Inc., the Company's parent (which is in the process of
spinning off the Company) with respect to which Sale Commonwealth may act as
Placement Agent. The Warrant shall contain a customary anti-dilution protection,
and one half of the Warrants (1,500,000) shall contain a cashless exercise
feature.

       

      (b)          Compensation
in the amount of $15,000 per month for advisory services for a period of 18
months from the date hereof, and shall be due by the Company within 15 days of
invoicing.

       

      (c)          A
fee in connection with an M&A Transaction equal to 5% of the aggregate
consideration paid or received by the Company. For the purposes hereof,
consideration shall mean all cash, property, securities, or assets paid or
received by the Company in connection with such transaction. Such fee shall be
paid to Commonwealth in cash and upon closing of the M&A Transaction.
Commonwealth shall also be reimbursed for all out of pocket expenses incurred by
or advanced in connection with performance of its duties hereunder.

       

      (d)          In
connection with the services provided pursuant to this Agreement, the Company
agrees to promptly reimburse Commonwealth, upon request and not more than
monthly, for all out-of- pocket expenses incurred (including, but not limited
to, travel and lodging expenses, and reasonable fees and disbursements of any
counsel, consultants and advisors retained by Commonwealth with the Company's
consent). Furthermore, Commonwealth shall obtain pre-approval for any expenses
which is to exceed $5,000 or (in the case of disbursements of counsel likely to
exceed $5,000).

       

      SECTION
4: Representations,
Warranties, and Covenants.

       

      The
Company represents and warrants that this Agreement has been duly authorized,
executed and delivered by the Company and constitutes a valid and binding
agreement of the Company enforceable against the Company in accordance with its
terms. The Company further represents and warrants that consummation of the
Transaction contemplated herein will not conflict with or result in a breach of
any of the terms, provisions or conditions of any written agreement to which it
is a party.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      SECTION
5: Successors and
Assigns

       

      The
benefits of this Agreement shall inure to the respective successors and assigns
of the parties hereto and of the indemnified parties hereunder and their
successors and assigns, and the obligations and liabilities assumed in this
agreement shall be binding on their successors and assigns; provided that the
rights and obligations of either party may not be assigned without prior written
consent. Any other purported assignment shall be null and void.

       

      SECTION
6: Indemnification

       

      The
Company agrees to indemnify Commonwealth, its principals, members, officers,
employees and agents who participate in any Transaction, as set forth in Annex A, attached
hereto, which provisions shall be incorporated into the definitive agreements
relating to any transaction.

       

      SECTION
7: Notices

       

      Any
notice or other communication to be given to the Company hereunder may be given
by delivering the same in writing to the address set forth above, and any notice
or other communication to be given to Commonwealth may be given by delivering
the same to Commonwealth Associates, LLP, 830 Third Avenue, New York, New York
10022, Attention: Robert O'Sullivan, Principal, or in each case, such other
address of which a party shall have received notice. Any notice or other
communication hereunder shall be deemed given three days after deposit in the
mail if mailed by certified mail, return receipt requested, or on the day after
deposit with an overnight courier service for next day delivery, or on the date
personally delivered.

       

      SECTION
8: Miscellaneous.

       

      (a)          No
change, amendment or supplement to, or waiver of, this Agreement or any term,
provision or condition contained herein, shall be valid or of any effect unless
in writing and signed by the party against whom such is asserted.

       

      (b)          This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York without giving effect to conflict of laws rules of such state.
Any action, proceeding or claim against any of the parties hereto arising out
of, or relating in any way to, this Agreement shall be brought and enforced in
the courts of the State of New York or the federal court for the Southern
District of New York, and the parties hereto irrevocably submit to such
jurisdiction, which jurisdiction shall be exclusive. The parties hereto hereby
waive any objection to such exclusive jurisdiction and that such courts
represent an inconvenient forum. The parties agree that the prevailing
party(ies) in any such action shall be entitled to recover from the other
party(ies) all of its reasonable attorneys' fees and expenses relating to such
action or proceeding and/or incurred in connection with the preparation
therefor.

       

      (c)          This
Agreement constitutes the entire understanding between the parties with respect
to the transactions contemplated hereby, and all prior or contemporaneous oral
agreements, understandings, discussions, representations and statements are
superseded by this Agreement. The waiver of any particular condition precedent,
provision or remedy provided by this Agreement shall not constitute the waiver
of any other.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      (d)          This
Agreement may be executed in any number of counterparts, each of which shall be
taken as one and the same instrument, to the same effect as if all the parties
hereto had signed the same signature page. Any signature page of this Agreement
may be detached from any counterpart of this Agreement identical in form hereto
but having attached it to one or more additional signature pages.

       

      (e)          The
provisions of this Agreement shall be binding upon and accrue to the benefit of
the parties hereto and their respective heirs, legal representatives, permitted
successors and permitted assigns. Neither party shall have the right to assign
its rights or obligations under this Agreement without the written consent of
the other party.

       

      (f)          If
any provision of this Agreement for any reason shall be held to be illegal,
invalid or unenforceable, such illegality shall not affect any other provision
of this Agreement and this Agreement shall be amended so as to enforce the
illegal, invalid or unenforceable provision to the maximum extent permitted by
applicable law, and the parties shall cooperate in good faith to further modify
this Agreement so as to preserve to the maximum extent possible the intended
benefits to be received by the parties.

       

      (g)          All
representations, warranties and agreements of the parties hereto contained
herein will survive the delivery and execution hereof and for a period of three
(3) years from the date hereof, and shall remain operative and in full force and
effect regardless of any investigation made by or on behalf of any party hereto
or any person who controls any such party within the meaning of the Securities
Act, and will survive delivery of the Shares, and any termination of this
Agreement.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      If the
foregoing conforms to your understanding of the arrangements between us, please
sign the copy of this letter provided in the space indicated, whereupon this
letter shall constitute a binding and legal agreement between the Company and
the Placement Agent as of the date first written above.

       

      Very
truly yours, 

       

      Aftersoft
Group, Inc.

       

      
        
          
            	
                    By:

                  	
                    /s/
      Ian Warwick

                  
	
                    Name:  Ian
      Warwick

                  
	
                    Title:
      President and Chief Executive
Officer

                  

          

        

      

       

      
        Accepted
as of the date first above written:

         

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    COMMONWEALTH ASSOCIATES, L.P.

                                  
	 	 
	
                                    By:

                                  	
                                    /s/
      Robert A. O’Sullivan

                                  
	 	Name: Robert A. O'Sullivan
	 	Title:
      Chief Executive Officer and
President

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      ANNEX A:

       

      INDEMNIFICATION

       

      The
Company agrees to indemnify Commonwealth, its principals, members, officers,
employees and agents and other persons who participate in any Transaction, and
their respective employees, directors, officers, agents, affiliates, and each
person, if any, who controls them within the meaning of either Section 20 of the
Securities Exchange Act of 1934 or Section 15 of the Securities Act of 1933
(each such person, including Commonwealth, is referred to as "Indemnified
Party") from and against any losses,
claims, damages and liabilities, joint or several including all legal or other
expenses reasonably incurred by an Indemnified Party in connection with the
preparation for or defense of any threatened or pending claim, action or
proceeding, whether or not resulting in any liability ("Damages"), to which such
Indemnified Party, in connection with its services or arising out of its
engagement hereunder, may become subject under any applicable Federal or state
law or otherwise, including but not limited to liability (i) caused by or
arising out of an untrue statement or an alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact necessary in
order to make a statement not misleading in light of the circumstances under
which it was made, (ii) caused by or arising out of any act or failure to act by
the Company or (iii) arising out of Commonwealth's engagement or the rendering
by any Indemnified Party of its services under this Agreement; provided,
however, that the Company will not be liable to the Indemnified Party hereunder
to the extent that any Damages are found in a final non- appealable judgment by
a court of competent jurisdiction to have resulted from the gross negligence,
bad faith or willful misconduct of the Indemnified Party seeking indemnification
hereunder, or the violation of any federal or state securities law or regulation
by an Indemnified Party.

       

      These
indemnification provisions shall be in addition to any liability which the
Company may otherwise have to any Indemnified Party.

       

      If for
any reason, other than a final non-appealable judgment finding an Indemnified
Party liable for Damages for its gross negligence, bad faith, or willful
misconduct the foregoing indemnity is unavailable to an Indemnified Party or
insufficient to hold an Indemnified Party harmless, then the Company shall and
shall cause the Company, to contribute to the amount paid or payable by an
Indemnified Party as a result of such Damages in such proportion as is
appropriate to reflect not only the relative benefits received by the Company,
as the case may be and its shareholders on the one hand, and Commonwealth on the
other, but also the relative fault of the Company, as the case may be, and the
Indemnified Party as well as any relevant equitable considerations, subject to
the limitation that in no event shall the total contribution of all Indemnified
Parties to all such Damages exceed the amount of fees actually received and
retained by Commonwealth and others who participate in any
Transaction.

       

      Promptly
after receipt by the Indemnified Party of notice of any claim or of the
commencement of any action in respect of which indemnity may be sought, the
Indemnified Party will immediately notify the Company in writing of the receipt
or commencement thereof and the Company shall have the right to assume the
defense of such claim or action (including the employment of counsel reasonably
satisfactory to the Indemnified Party and the payment of fees and expenses of
such counsel), provided that the Indemnified Party shall have the right to
control its defense if, in the opinion of its counsel, the Indemnified Party's
defense is unique or separate to it as the case may be, as opposed to a defense
pertaining to the Company In any event, the Indemnified Party shall have the
right to retain counsel reasonably satisfactory to the Company, at the Company's
expense, to represent it in any claim or action in respect of which indemnity
may be sought and agrees to cooperate with the Company and the Company's counsel
in the defense of such claim or action, it being understood, however, that the
Company shall not, in connection with any one such claim or action or separate,
but substantially similar or related claims or actions in the same jurisdiction
arising out of the same general allegations or circumstances,
be liable for the reasonable fees and expenses of more than one separate firm of
attorneys, for all the Indemnified Parties unless the defense of one Indemnified
Party is unique or separate from that of another Indemnified Party subject to
the same claim or action. In the event that the Company does not promptly assume
the defense of a claim or action, the Indemnified Party shall have the right to
employ counsel reasonably satisfactory to the Company, at the Company's expense,
to defend such claim or action. The omission by an Indemnified Party to promptly
notify the Company of the receipt or commencement of any claim or action in
respect of which indemnity may be sought will relieve the Company from any
liability the Company may have to such Indemnified Party only to the extent that
such a delay in notification materially prejudice the Company's defense of such
claim or action. The Company shall not be liable for any settlement of any such
claim or action effected without its written consent, which shall not be
unreasonably withheld or delayed. Any obligation pursuant to this Annex shall
survive the termination or expiration of this Agreement.

      
        
           

        

        
          6

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