Document:

Exhibit 10.2

 

PLEDGE
AND SECURITY AGREEMENT

 

This
PLEDGE AND SECURITY AGREEMENT (the “Agreement”), dated August 19, 2013, is made by and between Jameson Stanford
Resources, Corp., a Nevada corporation, inclusive of its wholly-owned subsidiary, Bolcán Mining Corporation, a Nevada corporation,
(the “Debtor”), and Joseph Marchal, an individual (the “Secured Party”) (together referred
to as the “Parties”).

 

WHEREAS,
Jameson Stanford Resources, Corp. is conducting a private offering of up to $1,500,000 of Convertible Redeemable Promissory Notes
(the “Notes”) to Joseph Marchal, together with other investors who may purchase such Notes;

 

WHEREAS,
Debtor executed and delivered a certain Convertible Redeemable Promissory Note of even date herewith payable to the order of the
Secured Party with an original principal amount of Five Hundred Thousand Dollars ($500,000) (the “Note”);

 

WHEREAS,
Debtor has agreed to execute and deliver this Pledge and Security Agreement to guaranty all of the obligations of the Debtor under
the Notes and this Agreement (the “Guaranty”).

 

NOW,
THEREFORE, in consideration of the premises, the mutual covenants and agreements herein contained, and other good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the parties hereto, intending to be bound,
do hereby agree as follows:

 

		1.	Grant
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  Security
                                                                                                                                                                                                                  Interest
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  Collateral
                                                                                                                                                                                                                  Assignment.
                                                                                                                                                                                                                  As
                                                                                                                                                                                                                  collateral
                                                                                                                                                                                                                  security
                                                                                                                                                                                                                  for
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  due
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  punctual
                                                                                                                                                                                                                  payment
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  performance
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Obligations,
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  defined
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  Section
                                                                                                                                                                                                                  2
                                                                                                                                                                                                                  (Secured
                                                                                                                                                                                                                  Obligations)
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  hereby
                                                                                                                                                                                                                  grants
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party,
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  full
                                                                                                                                                                                                                  power
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  authority
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  exercise
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  rights
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  powers
                                                                                                                                                                                                                  granted
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  hereunder,
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  lien
                                                                                                                                                                                                                  upon,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  security
                                                                                                                                                                                                                  interest,
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  to,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  hereby
                                                                                                                                                                                                                  collaterally
                                                                                                                                                                                                                  assigns
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party,
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  following
                                                                                                                                                                                                                  assets
                                                                                                                                                                                                                  (the
                                                                                                                                                                                                                  “Collateral”):

 

All
of the Debtor’s right, title and interest, in any capacity, now or hereafter acquired, in and to, the Company’s Star
Mountain Mining District, Chopar Mining Property, Beaver County, Utah (as described in the attached Exhibit A — Mining Property
& Legal Descriptions), together with all mineral ownership, mining rights, and proceeds of and distributions in respect of
any of the foregoing.

 

		2.	Secured
                                                                                                                                                                                                                  Obligations.
                                                                                                                                                                                                                  The
                                                                                                                                                                                                                  debts,
                                                                                                                                                                                                                  obligations
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  liabilities
                                                                                                                                                                                                                  secured
                                                                                                                                                                                                                  hereby
                                                                                                                                                                                                                  (the
                                                                                                                                                                                                                  “Secured
                                                                                                                                                                                                                  Obligations”)
                                                                                                                                                                                                                  are
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  following:
                                                                                                                                                                                                                  (i)
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  obligations
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  under
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Notes
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  Guaranty,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  obligations
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  agreements
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party;
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  (ii)
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  full
                                                                                                                                                                                                                  amount
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  indemnity
                                                                                                                                                                                                                  arising
                                                                                                                                                                                                                  under
                                                                                                                                                                                                                  Section
                                                                                                                                                                                                                  3
                                                                                                                                                                                                                  (No
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  Liability
                                                                                                                                                                                                                  re:
                                                                                                                                                                                                                  Company;
                                                                                                                                                                                                                  Indemnification);
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  (iii)
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  obligations
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  hereunder.

 

    	1

    	 

    

 

		3.	No
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  Liability
                                                                                                                                                                                                                  re
                                                                                                                                                                                                                  Company;
                                                                                                                                                                                                                  Indemnification.
                                                                                                                                                                                                                  This
                                                                                                                                                                                                                  pledge
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  security
                                                                                                                                                                                                                  interest
                                                                                                                                                                                                                  is
                                                                                                                                                                                                                  for
                                                                                                                                                                                                                  Collateral
                                                                                                                                                                                                                  purposes
                                                                                                                                                                                                                  only,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  not,
                                                                                                                                                                                                                  either
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  virtue
                                                                                                                                                                                                                  hereof,
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  retention
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  distributions
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  would
                                                                                                                                                                                                                  otherwise
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  entitled,
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  virtue
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  its
                                                                                                                                                                                                                  receipt
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  distributions
                                                                                                                                                                                                                  from
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Company,
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  exercise
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  its
                                                                                                                                                                                                                  rights
                                                                                                                                                                                                                  hereunder,
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  deemed
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  partner
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  principal
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Company
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  have
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  liability
                                                                                                                                                                                                                  for
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  debts,
                                                                                                                                                                                                                  obligations
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  liabilities
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Company,
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  participant
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Company
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  have
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  obligation
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  make
                                                                                                                                                                                                                  capital
                                                                                                                                                                                                                  contributions
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Company.
                                                                                                                                                                                                                  The
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  indemnify
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  hold
                                                                                                                                                                                                                  harmless
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  its
                                                                                                                                                                                                                  capacity
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  from
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  against
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  liability,
                                                                                                                                                                                                                  loss
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  damage
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  it
                                                                                                                                                                                                                  may
                                                                                                                                                                                                                  suffer
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  incur
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  arises
                                                                                                                                                                                                                  out
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  results
                                                                                                                                                                                                                  from:

 

(a)
The Company’s organizational documents or any agreement to which the Company may be a party (a “Company Agreement”),
including, without limitation, the Debtor being named as a general or limited partner therein or acting in such capacity pursuant
to the terms thereof;

 

  (b) This Agreement or the Secured Party’s receipt of distributions or the lawful exercise of any rights of the Secured Party hereunder; and

 

  (c) Any claimed or any alleged obligation, liability or duty on the part of the Secured Party to perform or discharge any of the terms, covenants or provisions of any Company Agreement; together, in each instance, with all costs and expenses (including, without limitation, court costs and reasonable attorneys’ fees) paid or incurred in connection therewith. Notwithstanding the foregoing, the Debtor shall not be obligated to indemnify the Secured Party hereunder for any liability, loss or damage which the Secured Party may suffer or incur as a result of gross negligence or willful misconduct by the Secured Party. The Debtor shall reimburse the Secured Party upon demand for the full amount of any indemnity to which the Secured Party may be entitled hereunder, and the full amount of the Debtor’s indemnity obligation shall be considered to be a Secured Obligation and shall be secured hereby.

 

		4.	Certificates.
                                                                                                                                                                                                                  If
                                                                                                                                                                                                                  at
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  time
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Collateral
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  represented
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  one
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  more
                                                                                                                                                                                                                  certificates
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  documents
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  are
                                                                                                                                                                                                                  instruments
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  defined
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Uniform
                                                                                                                                                                                                                  Commercial
                                                                                                                                                                                                                  Code,
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  amended
                                                                                                                                                                                                                  from
                                                                                                                                                                                                                  time
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  time
                                                                                                                                                                                                                  (the
                                                                                                                                                                                                                  “UCC”),
                                                                                                                                                                                                                  then
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  promptly
                                                                                                                                                                                                                  deliver
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  same
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party,
                                                                                                                                                                                                                  accompanied
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  transfer
                                                                                                                                                                                                                  powers
                                                                                                                                                                                                                  endorsed
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  blank
                                                                                                                                                                                                                  representing
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  certificates
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  documents,
                                                                                                                                                                                                                  duly
                                                                                                                                                                                                                  executed,
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  signatures
                                                                                                                                                                                                                  guaranteed
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  proper
                                                                                                                                                                                                                  evidence
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  due
                                                                                                                                                                                                                  authority
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  deliver
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  instruments
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  endorse
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  powers.

 

    	2

    	 

    

  

		5.	Representations,
                                                                                                                                                                                                                  Warranties
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  Covenants.
                                                                                                                                                                                                                  The
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  represents
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  warrants
                                                                                                                                                                                                                  to,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  covenants
                                                                                                                                                                                                                  with,
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  that:

 

5.1 No
Certificates. The Collateral is not represented or evidenced by any form of certificate or other document which is an
instrument (as defined in the UCC); and to the extent so certificated, the Debtor shall comply with the provisions of
Section 4 (Certificates).

 

5.2 No
Liens. The Collateral is not subject to any restriction which would prohibit or restrict the granting of a
security interest in and collateral assignment of the Interest pursuant hereto, or any restriction which would prohibit or
restrict the sale or other disposition of the Collateral upon default hereunder.

 

5.3 Authority.
The Debtor has all power, statutory and otherwise, to execute and deliver this Agreement, to perform its obligations
hereunder and to subject the Collateral to the security interest created hereby, all of which has been duly authorized by all
necessary action. The execution and delivery of this Agreement, and the performance of this Agreement and the enforcement of
the security interest granted hereby, will not result in any violation of or be in conflict with or constitute a default
under any term of any agreement or instrument, or any judgment, decree, order, law, statute, rule or governmental regulation
applicable to the Debtor or the collateral, or result in the creation of any mortgage, lien, charge or encumbrance upon the
Collateral or any other of the properties or assets of the Debtor (except pursuant hereto).

 

5.4 Ownership.
The Debtor is the sole record and beneficial owner of the Collateral, and neither the Collateral nor the proceeds thereof are
subject to any pledge, lien, security interest, charge or encumbrance except the lien created pursuant to this Agreement. The
Debtor will defend the Collateral against all claims and demands on all persons at any time claiming any interest therein.
Other than the financing statements filed pursuant to this Agreement, no currently effective financing statement covering the
Collateral is on file in any public office where such financing statements are required or permitted to be filed pursuant to
the UCC.

 

5.5 Consent
of Secured Party. The Debtor shall not enter into any amendment to any Company Agreement without the prior written
consent of the Secured Party (which consent the Secured Party may give or withhold in its sole discretion), but which consent
shall be deemed to be given if it is not denied within thirty (30) days after Debtor gives notice, pursuant to the
provisions of Section 11 (Notices), to the Secured Party and its attorney.

 

    	3

    	 

    

  

5.6
No Assignment. The Debtor shall not (i) sell, assign, pledge, encumber, grant a security interest in or otherwise transfer
or dispose of, or create or suffer to be created any lien, security interest or encumbrance on, any of the Collateral without
the prior written consent of the Secured Party (which consent the Secured Party may give or withhold in its sole discretion).
The Debtor shall give the Secured Party prompt and detailed notice (i) of any lien, security interest, encumbrance or claim made
or asserted against any of the Collateral, (ii) of any distribution of cash or other property by the Company, whether in complete
or partial liquidation or otherwise, and of any other material change in the composition of the Collateral, and (iii) of the occurrence
of any other event which could have a material adverse effect on the aggregate value of the Collateral or on the security interest
created hereunder.

 

5.7
Principal Address of Debtor. The Debtor’s principal place of business is 10785 West Twain Ave., Suite 200, Las
Vegas, NV 89135 and the office in which the records concerning the Collateral are kept is located at such address. The Debtor
will not locate Debtor’s principal place of business or residence, as the case may be, at another address, and will not
remove the Debtor’s records relating to the Collateral to another location without (i) giving the Secured Party thirty (30)
days prior written notice thereof, and (ii) in connection with any such changes, executing and delivering, or causing to be executed
and delivered, to the Secured Party all such additional security agreements, financing statements and other documents as the Secured
Party shall reasonably require due to any such change.

 

5.8
Name Changes. The Debtor will not change his name without (i) giving the Secured Party thirty (30) days prior written
notice thereof and (ii) in connection with any such change, executing and delivering, or causing to be executed and delivered,
to the Secured Party all such additional security agreements, financing statements and other documents as the Secured Party shall
reasonably require.

 

5.9
Distributions. The Debtor has agreed that all distributions on account of the Interest are to be paid directly to the
Secured Party and Debtor shall obtain all consents from the Company to such, except that as long as no default or Event of Default
exists hereunder or any document or instrument creating the Secured Obligations or standing as security therefor, the Debtor may
retain such distributions.

 

    	4

    	 

    
  

		6.	Events
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  Default.

 

6.1
Events of Default. The occurrence of any one or more of the following events shall constitute an event of default (an
“Event of Default”) under this Agreement: (i) should any representation or warranty made by or on behalf of
the Debtor in this Agreement or in any document related hereto be, or become, materially inaccurate (except to the extent rendered
inaccurate by the mere passage of time or by reason of actions taken by the Debtor with the prior written consent of the Secured
Party or expressly permitted hereby); or (ii) Should the Debtor default in the due performance or observance of any term, covenant
or agreement on his part to be performed or observed pursuant to this Agreement, pursuant to any document or instrument creating
the Secured Obligations or standing as security therefor, or pursuant to any other agreement with the Secured Party, as the case
may be.

 

6.2
Remedies. If an Event of Default shall occur hereunder: (i) the Secured Party may take possession of the Collateral
and may exclude the Debtor, and all persons claiming by, through or under the Debtor, from possession thereof, and may assign
the Collateral to a nominee or a third party (it being understood that, in connection therewith, the Secured Party or any third
party assignee or nominee of the Secured Party shall have the right to exercise, in the name of the Debtor, Debtor’s rights
and powers as a principal including “Manager” of any LLC, if applicable, of the Company); and (ii) the Secured Party
shall have all rights and remedies of a secured party available under the UCC and any other rights and remedies available under
this Security Agreement or at law or in equity.

 

6.3
Substitute Principal. In the event of the taking of possession of the Collateral, the Secured Party or any third party
assignee or nominee of the Secured Party, may, in addition to (but in no way limiting) the foregoing remedies, become a substitute
principal in the Company (including, but not limited to, a partner in any partnership, a member and/or manager in any LLC or LLP,
and a stockholder of any corporation).

 

6.4
Disposition of Collateral. More specifically, but in no way in limitation of the rights and remedies of the Secured
Party, the Secured Party may, upon ten (10) days’ notice (which notice shall be deemed to satisfy any requirement of reasonable
notification) to the Debtor of the time, place and circumstances of sale, and without liability for any diminution in price which
may have occurred, sell or otherwise dispose of all or any part of the Collateral. Such sale or other disposition may be by public
or private proceedings and may be made by way of one or more contracts, as a unit or in portions, at such time and place, by such
method, and in such manner and on such terms, as the Secured Party may determine. At any public sale, the Secured Party shall
be free to purchase all or any part of the Collateral. The Debtor recognizes that the fact that the Interest is not registered
under the Securities Act of 1933 and is unlikely to be registered in the future may necessitate a private sale which is likely
to result in a lower price than would a public sale, and hereby consents to such a private sale and agrees that the same is commercially
reasonable.

 

    	5

    	 

    

 

6.5
Proceeds of Disposition. The proceeds of any sale or other disposition of or collection of or other realization upon
all or any part of the Collateral (together with any cash held as Collateral hereunder), shall be applied in the following order
of priority: First, to pay the costs and expenses of collection, custody, sale or other disposition or delivery (including, without
limitation, reasonable legal costs and attorneys’ fees) and all other charges incurred by the Secured Party with respect
to the Collateral; Second, to the payment of the Secured Obligations in such order as the Secured Party may, in its sole discretion,
determine; and third, to pay any surplus to the Debtor or to any person or party lawfully entitled thereto, or as a court of competent
jurisdiction may direct.

 

6.6
Sufficient Discharge. The receipt given by the Secured Party for the purchase money paid at any sale shall be a sufficient
discharge therefor to any purchaser of all or any part of the Collateral sold. No such purchaser, after paying such purchase money
and receiving such receipt, shall be bound to see to the application of such purchase money or any part thereof, or in any manner
be answerable for any loss, misapplication or non-application of any such purchase money, or any part thereof, or be bound to
inquire as to the authorization, necessity, expediency or regularity of any such sale.

 

		7.	Attorney-in-Fact.
                                                                                                                                                                                                                  The
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  is
                                                                                                                                                                                                                  hereby
                                                                                                                                                                                                                  appointed
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  attorney-in-fact,
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  full
                                                                                                                                                                                                                  power
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  substitution,
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  for
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  purpose
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  carrying
                                                                                                                                                                                                                  out
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  provisions
                                                                                                                                                                                                                  hereof
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  taking
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  action
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  executing
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  instruments,
                                                                                                                                                                                                                  including,
                                                                                                                                                                                                                  without
                                                                                                                                                                                                                  limitation,
                                                                                                                                                                                                                  financing
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  continuation
                                                                                                                                                                                                                  statements,
                                                                                                                                                                                                                  conveyances,
                                                                                                                                                                                                                  assignments
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  transfers
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  are
                                                                                                                                                                                                                  required
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  taken
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  executed
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  including
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  documents
                                                                                                                                                                                                                  required
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  signed
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  designate
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  its
                                                                                                                                                                                                                  nominee
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  third
                                                                                                                                                                                                                  party
                                                                                                                                                                                                                  assignee,
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  purchaser
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  part
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Collateral,
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  substitute
                                                                                                                                                                                                                  principal
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Company
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  event
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  foreclosure,
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  may
                                                                                                                                                                                                                  deem
                                                                                                                                                                                                                  necessary
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  advisable
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  accomplish
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  purposes
                                                                                                                                                                                                                  hereof,
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  appointment
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  attorney-in-fact
                                                                                                                                                                                                                  is
                                                                                                                                                                                                                  coupled
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  an
                                                                                                                                                                                                                  interest
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  is
                                                                                                                                                                                                                  irrevocable.
                                                                                                                                                                                                                  The
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  indemnify
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  hold
                                                                                                                                                                                                                  harmless
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  from
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  against
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  liability
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  damage
                                                                                                                                                                                                                  which
                                                                                                                                                                                                                  it
                                                                                                                                                                                                                  may
                                                                                                                                                                                                                  incur
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  exercise
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  performance,
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  good
                                                                                                                                                                                                                  faith,
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  its
                                                                                                                                                                                                                  powers
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  duties
                                                                                                                                                                                                                  specifically
                                                                                                                                                                                                                  set
                                                                                                                                                                                                                  forth
                                                                                                                                                                                                                  herein,
                                                                                                                                                                                                                  but
                                                                                                                                                                                                                  not
                                                                                                                                                                                                                  for
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  liability
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  damage
                                                                                                                                                                                                                  incurred
                                                                                                                                                                                                                  on
                                                                                                                                                                                                                  account
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  gross
                                                                                                                                                                                                                  negligence
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  willful
                                                                                                                                                                                                                  misconduct
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party.

 

    	6

    	 

    

 

		8.	Waivers.
                                                                                                                                                                                                                  To
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  extent
                                                                                                                                                                                                                  permitted
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  law,
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  hereby
                                                                                                                                                                                                                  waives
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  he
                                                                                                                                                                                                                  may
                                                                                                                                                                                                                  have
                                                                                                                                                                                                                  under
                                                                                                                                                                                                                  applicable
                                                                                                                                                                                                                  law,
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  notice
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  judicial
                                                                                                                                                                                                                  hearing
                                                                                                                                                                                                                  prior
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  exercise
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  remedy
                                                                                                                                                                                                                  provided
                                                                                                                                                                                                                  hereby
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  waives
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor’s
                                                                                                                                                                                                                  rights,
                                                                                                                                                                                                                  if
                                                                                                                                                                                                                  any,
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  set
                                                                                                                                                                                                                  aside
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  invalidate
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  sale
                                                                                                                                                                                                                  duly
                                                                                                                                                                                                                  consummated
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  accordance
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  provisions
                                                                                                                                                                                                                  hereof
                                                                                                                                                                                                                  on
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  grounds
                                                                                                                                                                                                                  (if
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  case)
                                                                                                                                                                                                                  that
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  sale
                                                                                                                                                                                                                  was
                                                                                                                                                                                                                  consummated
                                                                                                                                                                                                                  without
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  prior
                                                                                                                                                                                                                  judicial
                                                                                                                                                                                                                  hearing.
                                                                                                                                                                                                                  The
                                                                                                                                                                                                                  Debtor’s
                                                                                                                                                                                                                  waivers
                                                                                                                                                                                                                  under
                                                                                                                                                                                                                  this
                                                                                                                                                                                                                  Section
                                                                                                                                                                                                                  8
                                                                                                                                                                                                                  (Waivers)
                                                                                                                                                                                                                  have
                                                                                                                                                                                                                  been
                                                                                                                                                                                                                  made
                                                                                                                                                                                                                  voluntarily,
                                                                                                                                                                                                                  intelligently
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  knowingly,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  after
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  has
                                                                                                                                                                                                                  been
                                                                                                                                                                                                                  apprised
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  counseled
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor’s
                                                                                                                                                                                                                  attorneys
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  nature
                                                                                                                                                                                                                  thereof
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor’s
                                                                                                                                                                                                                  possible
                                                                                                                                                                                                                  alternative
                                                                                                                                                                                                                  rights.
                                                                                                                                                                                                                  No
                                                                                                                                                                                                                  delay
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  omission
                                                                                                                                                                                                                  on
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  part
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  exercising
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  hereunder
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  operate
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  waiver
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  hereunder.
                                                                                                                                                                                                                  Any
                                                                                                                                                                                                                  waiver
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  on
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  one
                                                                                                                                                                                                                  occasion
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  not
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  construed
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  bar
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  waiver
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  on
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  future
                                                                                                                                                                                                                  occasion.
                                                                                                                                                                                                                  No
                                                                                                                                                                                                                  course
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  dealing
                                                                                                                                                                                                                  between
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  nor
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  failure
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  exercise,
                                                                                                                                                                                                                  nor
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  delay
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  exercising,
                                                                                                                                                                                                                  on
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  part
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party,
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  right,
                                                                                                                                                                                                                  power
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  privilege
                                                                                                                                                                                                                  hereunder
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  under
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Obligations,
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  operate
                                                                                                                                                                                                                  as
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  waiver
                                                                                                                                                                                                                  thereof;
                                                                                                                                                                                                                  nor
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  single
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  partial
                                                                                                                                                                                                                  exercise
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  right,
                                                                                                                                                                                                                  power
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  privilege
                                                                                                                                                                                                                  hereunder
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  thereunder
                                                                                                                                                                                                                  preclude
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  further
                                                                                                                                                                                                                  exercise
                                                                                                                                                                                                                  thereof
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  exercise
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  right,
                                                                                                                                                                                                                  power
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  privilege.
                                                                                                                                                                                                                  Notwithstanding
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  immediately
                                                                                                                                                                                                                  preceding
                                                                                                                                                                                                                  provisions
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  this
                                                                                                                                                                                                                  Section
                                                                                                                                                                                                                  8
                                                                                                                                                                                                                  (Waivers)
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  event
                                                                                                                                                                                                                  that
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  sections
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  this
                                                                                                                                                                                                                  Agreement
                                                                                                                                                                                                                  specifically
                                                                                                                                                                                                                  grant
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  right
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  notice
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor,
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Debtor
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  enjoy
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  specific
                                                                                                                                                                                                                  rights,
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  provisions
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  other
                                                                                                                                                                                                                  sections
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  supersede
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  foregoing
                                                                                                                                                                                                                  provisions
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  this
                                                                                                                                                                                                                  Section
                                                                                                                                                                                                                  8
                                                                                                                                                                                                                  (Waivers).
	 	 	 
		9.	Termination;
                                                                                                                                                                                                                  Assignments.
                                                                                                                                                                                                                  This
                                                                                                                                                                                                                  Agreement
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  security
                                                                                                                                                                                                                  interest
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  lien
                                                                                                                                                                                                                  on
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  collateral
                                                                                                                                                                                                                  created
                                                                                                                                                                                                                  hereby
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  terminate
                                                                                                                                                                                                                  when
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Obligations
                                                                                                                                                                                                                  have
                                                                                                                                                                                                                  been
                                                                                                                                                                                                                  paid
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  full.
                                                                                                                                                                                                                  In
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  event
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  sale
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  assignment
                                                                                                                                                                                                                  (including
                                                                                                                                                                                                                  without
                                                                                                                                                                                                                  limitation
                                                                                                                                                                                                                  a
                                                                                                                                                                                                                  collateral
                                                                                                                                                                                                                  assignment)
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  all
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  part
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Obligations
                                                                                                                                                                                                                  held
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  it,
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  deemed
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  have
                                                                                                                                                                                                                  assigned
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  transferred
                                                                                                                                                                                                                  its
                                                                                                                                                                                                                  rights
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  interests
                                                                                                                                                                                                                  under
                                                                                                                                                                                                                  this
                                                                                                                                                                                                                  Agreement,
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  extent
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  sale
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  assignment,
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  purchaser
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  purchasers
                                                                                                                                                                                                                  of
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Obligations,
                                                                                                                                                                                                                  whereupon
                                                                                                                                                                                                                  such
                                                                                                                                                                                                                  purchaser
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  purchasers
                                                                                                                                                                                                                  shall
                                                                                                                                                                                                                  become
                                                                                                                                                                                                                  vested
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  powers
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  rights
                                                                                                                                                                                                                  so
                                                                                                                                                                                                                  assigned
                                                                                                                                                                                                                  by
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  hereunder
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  shall,
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  that
                                                                                                                                                                                                                  extent,
                                                                                                                                                                                                                  thereafter
                                                                                                                                                                                                                  be
                                                                                                                                                                                                                  released
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  discharged
                                                                                                                                                                                                                  from
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  liability
                                                                                                                                                                                                                  or
                                                                                                                                                                                                                  responsibility
                                                                                                                                                                                                                  hereunder,
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  respect
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  rights
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  interest
                                                                                                                                                                                                                  so
                                                                                                                                                                                                                  assigned,
                                                                                                                                                                                                                  but
                                                                                                                                                                                                                  if
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  extent
                                                                                                                                                                                                                  that
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  retains
                                                                                                                                                                                                                  any
                                                                                                                                                                                                                  interest
                                                                                                                                                                                                                  in
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Collateral,
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  Secured
                                                                                                                                                                                                                  Party
                                                                                                                                                                                                                  will
                                                                                                                                                                                                                  continue
                                                                                                                                                                                                                  to
                                                                                                                                                                                                                  have
                                                                                                                                                                                                                  the
                                                                                                                                                                                                                  rights
                                                                                                                                                                                                                  and
                                                                                                                                                                                                                  powers
                                                                                                                                                                                                                  set
                                                                                                                                                                                                                  forth
                                                                                                                                                                                                                  herein
                                                                                                                                                                                                                  with
                                                                                                                                                                                                                  respect
                                                                                                                                                                                                                  thereto.
	 	 	 
	 	10.	Governmental
                                                                                                                             Approvals,
                                                                                                                             Etc.
                                                                                                                             Upon
                                                                                                                             the
                                                                                                                             exercise
                                                                                                                             by
                                                                                                                             the
                                                                                                                             Secured
                                                                                                                             Party
                                                                                                                             of
                                                                                                                             any
                                                                                                                             power,
                                                                                                                             right,
                                                                                                                             privilege
                                                                                                                             or
                                                                                                                             remedy
                                                                                                                             pursuant
                                                                                                                             to
                                                                                                                             this
                                                                                                                             Agreement
                                                                                                                             which
                                                                                                                             requires
                                                                                                                             any
                                                                                                                             consent,
                                                                                                                             approval,
                                                                                                                             registration,
                                                                                                                             qualification
                                                                                                                             or
                                                                                                                             authorization
                                                                                                                             of
                                                                                                                             any
                                                                                                                             governmental
                                                                                                                             authority
                                                                                                                             or
                                                                                                                             instrumentality,
                                                                                                                             the
                                                                                                                             Debtor
                                                                                                                             shall
                                                                                                                             execute
                                                                                                                             and
                                                                                                                             deliver,
                                                                                                                             or
                                                                                                                             will
                                                                                                                             cause
                                                                                                                             the
                                                                                                                             execution
                                                                                                                             and
                                                                                                                             deliver
                                                                                                                             of,
                                                                                                                             all
                                                                                                                             applications,
                                                                                                                             certificates,
                                                                                                                             instruments
                                                                                                                             and
                                                                                                                             other
                                                                                                                             documents
                                                                                                                             and
                                                                                                                             papers
                                                                                                                             that
                                                                                                                             the
                                                                                                                             Secured
                                                                                                                             Party
                                                                                                                             may
                                                                                                                             require
                                                                                                                             therefor.

  

    	7

    	 

    

  

		11.	Notices. All
notices, requests, demands, consents, approvals or other communications to or upon the respective parties hereto shall be in writing
and delivered in hand or mailed by certified or registered mail, return receipt requested, and shall conclusively be deemed to
have been received and shall be effective on the day on which delivered in writing to the party to which such notice, request,
demand, consent, approval or other communication is required or permitted to be given or made under this Agreement (or, in the
event of refusal of delivery, when refused) addressed in the case of the Secured Party, to:

 

	 	If
    to Secured Party
	 	Joseph
    Marchal
	 	c/o
    International Sports Center
	 	484
    W. Soledad Avenue
	 	Hagatna,
    Guam 96910
	 	 
	 	If
    to Debtor
	 	Jameson
    Stanford Resources
	 	Attn:
    Robbie Chidester
	 	10785
    West Twain Ave., Suite 200
	 	Las
    Vegas, NV 89135

 

or
at such other address as either party may hereafter specify in writing to the other party. A notice given in accordance with this
Section 11 is herein called a “Notice”.

 

12.
Miscellaneous.

 

12.1
Governing Law. This Agreement and any other instruments executed and delivered to evidence, complete, or perfect the
transactions contemplated hereby, will be interpreted, construed, applied and enforced in accordance with the laws of the State
of Nevada applicable to contracts to be performed entirely within the State of Nevada, regardless of (i) where any such instrument
is executed or delivered; or (ii) where any payment or other performance required by any such instrument is made or required to
be made; or (iii) where any breach of any provision of any such instrument occurs, or any cause of action otherwise accrues; or
(iv) where any action or other proceeding is instituted or pending; or (v) the nationality, citizenship, domicile, principal place
of business, or jurisdiction of organization or domestication of any party; or (vi) whether the laws of the forum jurisdiction
otherwise would apply the laws of a jurisdiction other than the State of Nevada; or (vii) any combination of the foregoing. Notwithstanding
the foregoing, the laws of the jurisdiction where any of the Collateral is situated or otherwise has a situs will apply to the
perfection, disposition, and realization upon such Collateral.

  

 12.2
Jurisdiction. To the full extent permitted by applicable law, any action to enforce, arising out of, or relating in
any way to, any of the provisions of this Agreement may be brought and prosecuted in such court or courts located in the State
of Nevada as is provided by law; and the parties consent to the jurisdiction of said court or courts located in the State of Nevada
and to service of process by registered mail, return receipt requested, or by any other manner provided by law. To the extent
that jurisdiction in the State of Utah may be required, necessary or convenient to enforce, arising out of, or relating in any
way to, any of the provisions of this Agreement, the Parties further consent to the jurisdiction of said court or courts located
in the State of Utah.

 

    	8

    	 

    

 

12.3
Injunctive Relief. The Debtor agrees that the Debtor’s obligations and the rights of the Secured Party hereunder
and under the Secured Obligation may be enforced by specific performance hereof and thereof and temporary, preliminary and/or
final injunctive relief relating hereto and thereto, without necessity for proof by the Secured Party that the Secured Party would
otherwise suffer irreparable harm, and the Debtor hereby consents to the issuance of such specific injunctive relief.

 

12.4
Secured Party Liability. The Secured Party shall be under no duty or liability with respect to the Collateral other
than to use reasonable care in the custody of any certificate representing the Collateral while in its possession, and shall not
be liable for any failure to take action necessary to preserve rights against prior parties on any instrument constituting Collateral.
The Debtor agrees that in dealing with the Secured Party, the Debtor shall look solely to the assets and property of the Secured
Party, in that no trustee, beneficiary, officer, director or agent of the Secured Party assumes any personal liability for the
obligations of the Secured Party.

 

12.5
Cumulative Remedies. The rights and remedies of the Secured Party herein provided or provided under any other agreement
or instrument, or otherwise available, are cumulative, and are in addition to and not exclusive of or in limitation of any rights
and remedies provided by law, including, without limitation, the rights and remedies of secured party under the UCC.

 

12.6
Attorneys’ Fees. All costs and expenses, including without limitation, legal costs and reasonable attorneys’
fees, incurred by the Secured Party in enforcing this Agreement shall be chargeable to and secured by the Collateral hereunder.

 

12.7
Continuing Security Interest; Assignment. This Agreement shall create a continuing security interest in the Collateral
and shall remain in full force and effect until the payment in full of the Secured Obligations and all other amounts payable under
the Note and Guaranty. All rights of the Secured Party hereunder shall inure to the benefit of its successors and assigns, and
this Security Agreement shall bind the Debtor’s heirs, legal representatives, successors and assigns.

   

12.8
Counterparts. This Security 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.

 

    	9

    	 

    

 

12.9
Separability. If any provision hereof shall be invalid or unenforceable in any respect or in any jurisdiction, the
remaining provisions hereof shall remain in full force and effect and shall be enforceable to the maximum extent permitted by
law.

 

12.10
No Consent. No consent, approval or waiver hereunder or pursuant hereto shall be binding unless in writing.

 

12.11
Section Headings. The section headings provided in this Agreement are for convenience of reference only and shall not
be considered in construing this Agreement.

 

12.2
Amendments. No amendment or waiver of any provision of this Agreement, and no consent to any departure of the Debtor
herefrom, shall in any event be effective, unless the same shall be in writing and signed by the parties.

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed and effective on the day and year first written above.

 

	ASSIGNOR:	 
	 	 
	Jameson Stanford
    Resources Corporation	 
	 	 
	/s/ Michael
    Stanford	 
	By: Michael Stanford
    	 
	Its: President
    & Chief Executive Officer	 
	 	 
	SECURED PARTY:	 
	 	 
	/s/ Joseph
    Marchal	 
	By: Joseph Marchal	 

 

    	10

    	 

    

 

Exhibit
A

Mining
Property & Legal Descriptions

 

A.
Mineral Lease No. ML 52134 between School and Institutional Trust Lands Administration and Bolcán Mining Corporation dated
May 1, 2012.

 

B.
Mining Claims

 

The
mining claims identified in the Notice of Location filed by Bolcán Mining Corp. as locator with the U.S. Bureau of Land
Management as set forth below:

 

	Serial
    

Number	 	Date

    Assigned	 	Proprietor	 	Entry
    User	 	Requested
    

User	 	Claim
    Name
	 	 	 	 	 	 	 	 	 	 	 
	UMC417500	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    1
	 	 	 	 	 	 	 	 	 	 	 
	UMC417501	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    2
	 	 	 	 	 	 	 	 	 	 	 
	UMC417502	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    3
	 	 	 	 	 	 	 	 	 	 	 
	UMC417503	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    4
	 	 	 	 	 	 	 	 	 	 	 
	UMC417504	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    5
	 	 	 	 	 	 	 	 	 	 	 
	UMC417505	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    6
	 	 	 	 	 	 	 	 	 	 	 
	UMC417506	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    7
	 	 	 	 	 	 	 	 	 	 	 
	UMC417507	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    8
	 	 	 	 	 	 	 	 	 	 	 
	UMC417508	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    9
	 	 	 	 	 	 	 	 	 	 	 
	UMC417509	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    10
	 	 	 	 	 	 	 	 	 	 	 
	UMC417510	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    11
	 	 	 	 	 	 	 	 	 	 	 
	UMC417511	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    12
	 	 	 	 	 	 	 	 	 	 	 
	UMC417512	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    13
	 	 	 	 	 	 	 	 	 	 	 
	UMC417513	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    14
	 	 	 	 	 	 	 	 	 	 	 
	UMC417514	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    15
	 	 	 	 	 	 	 	 	 	 	 
	UMC417515	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    16
	 	 	 	 	 	 	 	 	 	 	 
	UMC417516	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    17
	 	 	 	 	 	 	 	 	 	 	 
	UMC417517	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    18
	 	 	 	 	 	 	 	 	 	 	 
	UMC417518	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    19
	 	 	 	 	 	 	 	 	 	 	 
	UMC417519	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    20

 

    	A-1

    	 

    

   

	Serial
    

Number	 	Date
    

Assigned	 	Proprietor	 	Entry
    User	 	Requested

    User	 	Claim
    Name
	 	 	 	 	 	 	 	 	 	 	 
	UMC417520	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    21
	 	 	 	 	 	 	 	 	 	 	 
	UMC417521	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    22
	 	 	 	 	 	 	 	 	 	 	 
	UMC417522	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    23
	 	 	 	 	 	 	 	 	 	 	 
	UMC417523	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    24
	 	 	 	 	 	 	 	 	 	 	 
	UMC417524	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    25
	 	 	 	 	 	 	 	 	 	 	 
	UMC417525	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    26
	 	 	 	 	 	 	 	 	 	 	 
	UMC417526	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    27
	 	 	 	 	 	 	 	 	 	 	 
	UMC417527	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    28
	 	 	 	 	 	 	 	 	 	 	 
	UMC417528	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    29
	 	 	 	 	 	 	 	 	 	 	 
	UMC417529	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    30
	 	 	 	 	 	 	 	 	 	 	 
	UMC417530	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    31
	 	 	 	 	 	 	 	 	 	 	 
	UMC417531	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    32
	 	 	 	 	 	 	 	 	 	 	 
	UMC417532	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    33
	 	 	 	 	 	 	 	 	 	 	 
	UMC417533	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    34
	 	 	 	 	 	 	 	 	 	 	 
	UMC417534	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    35
	 	 	 	 	 	 	 	 	 	 	 
	UMC417535	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    36
	 	 	 	 	 	 	 	 	 	 	 
	UMC417536	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    37
	 	 	 	 	 	 	 	 	 	 	 
	UMC417537	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    38
	 	 	 	 	 	 	 	 	 	 	 
	UMC417538	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    39
	 	 	 	 	 	 	 	 	 	 	 
	UMC417539	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    40
	 	 	 	 	 	 	 	 	 	 	 
	UMC417540	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    41
	 	 	 	 	 	 	 	 	 	 	 
	UMC417541	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    42
	 	 	 	 	 	 	 	 	 	 	 
	UMC417542	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    43
	 	 	 	 	 	 	 	 	 	 	 
	UMC417543	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    44

 

    	A-2

    	 

    

  

	Serial
    

Number	 	Date

    Assigned	 	Proprietor	 	Entry
    User	 	Requested

    User	 	Claim
    Name
	 	 	 	 	 	 	 	 	 	 	 
	UMC417544	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    45
	 	 	 	 	 	 	 	 	 	 	 
	UMC417545	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    46
	 	 	 	 	 	 	 	 	 	 	 
	UMC417546	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    47
	 	 	 	 	 	 	 	 	 	 	 
	UMC417547	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    48
	 	 	 	 	 	 	 	 	 	 	 
	UMC417548	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    49
	 	 	 	 	 	 	 	 	 	 	 
	UMC417549	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    50
	 	 	 	 	 	 	 	 	 	 	 
	UMC417550	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    51
	 	 	 	 	 	 	 	 	 	 	 
	UMC417551	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    52
	 	 	 	 	 	 	 	 	 	 	 
	UMC417552	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    53
	 	 	 	 	 	 	 	 	 	 	 
	UMC417553	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    54
	 	 	 	 	 	 	 	 	 	 	 
	UMC417554	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    55
	 	 	 	 	 	 	 	 	 	 	 
	UMC417555	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    56
	 	 	 	 	 	 	 	 	 	 	 
	UMC417556	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    57
	 	 	 	 	 	 	 	 	 	 	 
	UMC417557	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    58
	 	 	 	 	 	 	 	 	 	 	 
	UMC417558	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    59
	 	 	 	 	 	 	 	 	 	 	 
	UMC417559	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    60
	 	 	 	 	 	 	 	 	 	 	 
	UMC417560	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    61
	 	 	 	 	 	 	 	 	 	 	 
	UMC417561	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    62
	 	 	 	 	 	 	 	 	 	 	 
	UMC417562	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    63
	 	 	 	 	 	 	 	 	 	 	 
	UMC417563	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    64
	 	 	 	 	 	 	 	 	 	 	 
	UMC417564	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    65
	 	 	 	 	 	 	 	 	 	 	 
	UMC417565	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    66
	 	 	 	 	 	 	 	 	 	 	 
	UMC417566	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    67
	 	 	 	 	 	 	 	 	 	 	 
	UMC417567	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    68

 

    	A-3

    	 

    

 

	Serial
    

Number	 	Date

    Assigned	 	Proprietor	 	Entry
    User	 	Requested

    User	 	Claim
    Name
	 	 	 	 	 	 	 	 	 	 	 
	UMC417568	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    69
	 	 	 	 	 	 	 	 	 	 	 
	UMC417569	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    70
	 	 	 	 	 	 	 	 	 	 	 
	UMC417570	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    71
	 	 	 	 	 	 	 	 	 	 	 
	UMC417571	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    72
	 	 	 	 	 	 	 	 	 	 	 
	UMC417572	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    73
	 	 	 	 	 	 	 	 	 	 	 
	UMC417573	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    74
	 	 	 	 	 	 	 	 	 	 	 
	UMC417574	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    75
	 	 	 	 	 	 	 	 	 	 	 
	UMC417575	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    76
	 	 	 	 	 	 	 	 	 	 	 
	UMC417576	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    77
	 	 	 	 	 	 	 	 	 	 	 
	UMC417577	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    78
	 	 	 	 	 	 	 	 	 	 	 
	UMC417578	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    79
	 	 	 	 	 	 	 	 	 	 	 
	UMC417579	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    80
	 	 	 	 	 	 	 	 	 	 	 
	UMC417580	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    81
	 	 	 	 	 	 	 	 	 	 	 
	UMC417581	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    82
	 	 	 	 	 	 	 	 	 	 	 
	UMC417582	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    83
	 	 	 	 	 	 	 	 	 	 	 
	UMC417583	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    84
	 	 	 	 	 	 	 	 	 	 	 
	UMC417584	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    85
	 	 	 	 	 	 	 	 	 	 	 
	UMC417585	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    86
	 	 	 	 	 	 	 	 	 	 	 
	UMC417586	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    87
	 	 	 	 	 	 	 	 	 	 	 
	UMC417587	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    88
	 	 	 	 	 	 	 	 	 	 	 
	UMC417588	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    89
	 	 	 	 	 	 	 	 	 	 	 
	UMC417589	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    90
	 	 	 	 	 	 	 	 	 	 	 
	UMC417590	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    91
	 	 	 	 	 	 	 	 	 	 	 
	UMC417591	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    92

 

    	A-4

    	 

    

  

	Serial
    

Number	 	Date

    Assigned	 	Proprietor	 	Entry
    User	 	Requested
    

User	 	Claim
    Name
	 	 	 	 	 	 	 	 	 	 	 
	UMC417592	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    93
	 	 	 	 	 	 	 	 	 	 	 
	UMC417593	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    94
	 	 	 	 	 	 	 	 	 	 	 
	UMC417594	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    95
	 	 	 	 	 	 	 	 	 	 	 
	UMC417595	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    96
	 	 	 	 	 	 	 	 	 	 	 
	UMC417596	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    97
	 	 	 	 	 	 	 	 	 	 	 
	UMC417597	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    98
	 	 	 	 	 	 	 	 	 	 	 
	UMC417598	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    99
	 	 	 	 	 	 	 	 	 	 	 
	UMC417599	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    100
	 	 	 	 	 	 	 	 	 	 	 
	UMC417600	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    101
	 	 	 	 	 	 	 	 	 	 	 
	UMC417601	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    102
	 	 	 	 	 	 	 	 	 	 	 
	UMC417602	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    103
	 	 	 	 	 	 	 	 	 	 	 
	UMC417603	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    104
	 	 	 	 	 	 	 	 	 	 	 
	UMC417604	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    105
	 	 	 	 	 	 	 	 	 	 	 
	UMC417605	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    106
	 	 	 	 	 	 	 	 	 	 	 
	UMC417606	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    107
	 	 	 	 	 	 	 	 	 	 	 
	UMC417607	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    108
	 	 	 	 	 	 	 	 	 	 	 
	UMC417608	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    109
	 	 	 	 	 	 	 	 	 	 	 
	UMC417609	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    110
	 	 	 	 	 	 	 	 	 	 	 
	UMC417610	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    111
	 	 	 	 	 	 	 	 	 	 	 
	UMC417611	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    112
	 	 	 	 	 	 	 	 	 	 	 
	UMC417612	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    113
	 	 	 	 	 	 	 	 	 	 	 
	UMC417613	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    114
	 	 	 	 	 	 	 	 	 	 	 
	UMC417614	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    115
	 	 	 	 	 	 	 	 	 	 	 
	UMC417615	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    116

 

    	A-5

    	 

    

  

	Serial
    

Number	 	Date
    

Assigned	 	Proprietor	 	Entry
    User	 	Requested
    

User	 	Claim
    Name
	 	 	 	 	 	 	 	 	 	 	 
	UMC417616	 	4/23/2012	 	BOLCAN
    MINING CORP	 	CMOUNTAI	 	CMOUNTAI	 	CHOPAR
    117

 

    	A-6Exhibit 10.3

 

Exhibit
10.3

 

THIS
COMMON STOCK PURCHASE WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF THE COMMON STOCK PURCHASE WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND ACCORDINGLY MAY NOT BE SOLD, OFFERED
FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.

 

JAMESON
STANFORD RESOURCES CORPORATION

COMMON
STOCK PURCHASE WARRANT

 

Jameson
Stanford Resources Corporation, a Nevada corporation (the “Company”), hereby agrees that, for value received,
Joseph Marchal (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company
at any time or from time to time before 5:00 p.m. ET, on September 30, 2015, five hundred thousand (500,000) shares of Common
Stock of the Company (the “Common Stock”), at an exercise price of $1.00 per share, subject to adjustment (the
“Exercise Price”). This Common Stock Purchase Warrant (the “Warrant”) was offered as part
of a private securities offering of Convertible Redeemable Promissory Notes and Common Stock Purchase Warrants, the terms of which
are described in such respective agreements executed by the Holder of same date herewith (the “Offering”).

 

		1.	EXERCISE
                                                                                                                                                                                                             OF
                                                                                                                                                                                                             WARRANT.
                                                                                                                                                                                                             The
                                                                                                                                                                                                             purchase
                                                                                                                                                                                                             rights
                                                                                                                                                                                                             granted
                                                                                                                                                                                                             by
                                                                                                                                                                                                             this
                                                                                                                                                                                                             Warrant
                                                                                                                                                                                                             shall
                                                                                                                                                                                                             be
                                                                                                                                                                                                             exercised
                                                                                                                                                                                                             in
                                                                                                                                                                                                             whole
                                                                                                                                                                                                             or
                                                                                                                                                                                                             in
                                                                                                                                                                                                             part
                                                                                                                                                                                                             by
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Holder
                                                                                                                                                                                                             surrendering
                                                                                                                                                                                                             this
                                                                                                                                                                                                             Warrant
                                                                                                                                                                                                             with
                                                                                                                                                                                                             the
                                                                                                                                                                                                             form
                                                                                                                                                                                                             of
                                                                                                                                                                                                             exercise
                                                                                                                                                                                                             document
                                                                                                                                                                                                             attached
                                                                                                                                                                                                             hereto
                                                                                                                                                                                                             duly
                                                                                                                                                                                                             executed
                                                                                                                                                                                                             by
                                                                                                                                                                                                             such
                                                                                                                                                                                                             Holder,
                                                                                                                                                                                                             to
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Company
                                                                                                                                                                                                             at
                                                                                                                                                                                                             its
                                                                                                                                                                                                             principal
                                                                                                                                                                                                             office,
                                                                                                                                                                                                             accompanied
                                                                                                                                                                                                             by
                                                                                                                                                                                                             cash
                                                                                                                                                                                                             or
                                                                                                                                                                                                             by
                                                                                                                                                                                                             certified
                                                                                                                                                                                                             check
                                                                                                                                                                                                             or
                                                                                                                                                                                                             by
                                                                                                                                                                                                             bank
                                                                                                                                                                                                             wire
                                                                                                                                                                                                             transfer
                                                                                                                                                                                                             in
                                                                                                                                                                                                             immediately
                                                                                                                                                                                                             available
                                                                                                                                                                                                             funds
                                                                                                                                                                                                             payable
                                                                                                                                                                                                             to
                                                                                                                                                                                                             the
                                                                                                                                                                                                             order
                                                                                                                                                                                                             of
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Company
                                                                                                                                                                                                             for
                                                                                                                                                                                                             the
                                                                                                                                                                                                             purchase
                                                                                                                                                                                                             price
                                                                                                                                                                                                             payable
                                                                                                                                                                                                             in
                                                                                                                                                                                                             respect
                                                                                                                                                                                                             of
                                                                                                                                                                                                             the
                                                                                                                                                                                                             shares
                                                                                                                                                                                                             of
                                                                                                                                                                                                             Common
                                                                                                                                                                                                             Stock
                                                                                                                                                                                                             being
                                                                                                                                                                                                             purchased
                                                                                                                                                                                                             (the
                                                                                                                                                                                                             “Warrant
                                                                                                                                                                                                             Shares”).
                                                                                                                                                                                                             If
                                                                                                                                                                                                             less
                                                                                                                                                                                                             than
                                                                                                                                                                                                             all
                                                                                                                                                                                                             of
                                                                                                                                                                                                             the
                                                                                                                                                                                                             shares
                                                                                                                                                                                                             purchasable
                                                                                                                                                                                                             hereunder
                                                                                                                                                                                                             are
                                                                                                                                                                                                             purchased,
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Company
                                                                                                                                                                                                             will,
                                                                                                                                                                                                             upon
                                                                                                                                                                                                             such
                                                                                                                                                                                                             exercise,
                                                                                                                                                                                                             execute
                                                                                                                                                                                                             and
                                                                                                                                                                                                             deliver
                                                                                                                                                                                                             to
                                                                                                                                                                                                             the
                                                                                                                                                                                                             Holder
                                                                                                                                                                                                             hereof
                                                                                                                                                                                                             a
                                                                                                                                                                                                             new
                                                                                                                                                                                                             Warrant
                                                                                                                                                                                                             (dated
                                                                                                                                                                                                             the
                                                                                                                                                                                                             date
                                                                                                                                                                                                             hereof)
                                                                                                                                                                                                             evidencing
                                                                                                                                                                                                             the
                                                                                                                                                                                                             number
                                                                                                                                                                                                             of
                                                                                                                                                                                                             shares
                                                                                                                                                                                                             not
                                                                                                                                                                                                             so
                                                                                                                                                                                                             purchased.

 

Net
Issue Exercise. In lieu of exercising this Warrant, the Holder may elect to receive Warrant Shares equal to the value of this
Warrant by surrender of this Warrant at the principal office of the Company together with notice of such election, in which event
the Company shall issue to the Holder the number of Warrant Shares computed using the following formula:

 

    	1

    	 

    

 

	 	X	= 	Y*(Z-T)/Z
	Where:	X	=	the number of
    Warrant Shares to be issued to the Holder.
	 	Y	=	the number of
    Warrant Shares purchasable hereunder.
	 	Z	=	the market value
    of one Share of Common Stock on the date of determination.
	 	T	=	the per share
    Exercise Price (as adjusted).

 

Market
Value. For purposes of this Section 1, the per share market value of the Warrant Shares shall be the average of the closing prices
of the Common Stock as quoted on the Over-the-Counter Bulletin Board, or the principal exchange on which the Common Stock is listed,
for the fifteen trading days ending five trading days prior to the date of determination of market value.

 

As
soon as practicable after any exercise of this Warrant and payment of the purchase price (if applicable), the Company will cause
to be issued in the name of and delivered to the Holder hereof, or as such Holder may direct, a certificate or certificates representing
the Warrant Shares purchased upon such exercise. The Company may require that such certificate or certificates contain on the
face thereof a legend substantially as follows:

 

“The
transfer of the shares represented by this certificate is restricted pursuant to the terms of a Common Stock Purchase Warrant
dated August 19, 2013 issued by Jameson Stanford Resources Corporation, a copy of which is available for inspection at the offices
of Jameson Stanford Resources Corporation. Transfer may not be made except in accordance with the terms of the Common Stock Purchase
Warrant. In addition, no sale, offer to sell or transfer of this Common Stock Purchase Warrant or the shares of common stock represented
by this certificate shall be made unless a Registration Statement under the Securities Act of 1933, as amended (the “Securities
Act”), with respect to such shares is then in effect or an exemption from the registration requirements of the Securities
Act is then in fact applicable to such shares.”

 

2.
NEGOTIABILITY AND TRANSFER. This Warrant is issued upon the following terms, to which each Holder hereof consents and agrees:

 

(a)
Until this Warrant is duly transferred on the books of the Company, the Company may treat the registered Holder of this Warrant
as the absolute owner hereof for all purposes without being affected by any notice to the contrary.

 

(b)
Each successive Holder of this Warrant, or of any portion of the rights represented thereby, shall be bound by the terms and conditions
set forth herein.

 

    	2

    	 

    

 

3.
STOCK SPLIT; STOCK DIVIDENDS; REORGANIZATIONS. If the Company shall at any time hereafter subdivide or combine its outstanding
shares of common stock, or declare a dividend payable in common stock, the exercise price hereof in effect immediately prior to
the subdivision, combination or record date for such dividend payable in common stock shall forthwith be proportionately increased,
in the case of combination, or proportionately decreased, in the case of subdivision or declaration of a dividend payable in common
stock, and the number of shares purchasable upon exercise of this Warrant immediately preceding such event shall be changed to
the number determined by dividing the then current exercise price by the exercise price as adjusted after such subdivision, combination
or dividend payable in common stock and against the number of shares purchasable upon the exercise of this Warrant immediately
preceding such event, so as to achieve an exercise price and number of shares purchasable after such event proportional to such
exercise price and number of shares purchasable immediately preceding such event.

 

(a)
No fractional shares are to be issued upon the exercise of the Warrant, but the Company shall pay a cash adjustment in respect
of any fraction of a share which would otherwise be issuable in an amount equal to the same fraction of the market price per share
of the Common Stock on the day of exercise as determined in good faith by the Company.

 

(b)
In case of any capital reorganization or any reclassification of the common stock of the Company, or in the case of any consolidation
with or merger of the Company into or with another entity or the sale of all or substantially all of its assets to another entity,
which is effected in such a manner that the Holders of common stock shall be entitled to receive stock, securities or assets with
respect to or in exchange for common stock, then, as a part of such reorganization, reclassification, consolidation, merger or
sale, as the case may be, lawful provision shall be made so that the Holder of the Warrant shall have the right thereafter to
receive, upon the exercise hereof, the kind and amount of shares of stock or other securities or property which the Holder would
have been entitled to receive if, immediately prior to such reorganization, reclassification, consolidation, merger or sale, the
Holder had held the number of shares which were then purchasable upon the exercise of the Warrant. In any such case, appropriate
adjustment (as determined in good faith by the Board of Directors of the Company) shall be made in the application of the provisions
set forth herein with respect to the rights and interest thereafter of the Holder of the Warrant, to the end that the provisions
set forth herein (including provisions with respect to adjustments of the exercise price) shall thereafter be applicable, as nearly
as reasonably may be, in relation to any shares of stock or other property thereafter deliverable upon the exercise of the Warrant.

 

(c)
When any adjustment is required to be made in the exercise price, initial or adjusted, the Company shall forthwith determine
the new exercise price, and (i) prepare and retain on file a statement describing in reasonable detail the method used in arriving
at the new exercise price, and (i) cause a copy of such statement to be mailed to the Holder of the Warrant as of a date within
ten (10) days after the date when the circumstances giving rise to the adjustment occurred.

 

    	3

    	 

    

 

4.
NOTICES. The Company shall mail to the registered Holder of the Warrant, at his or her last known post office address appearing
on the books of the Company, not less than fifteen (15) days prior to the date on which (a) a record will be taken for the purpose
of determining the holders of common stock entitled to dividends (other than cash dividends) or subscription rights, or (b) a
record will be taken (or in lieu thereof, the transfer books will be closed) for the purpose of determining the Holders of common
stock entitled to notice of and to vote at a meeting of shareholders at which any capital reorganization, reclassification of
common stock, consolidation, merger, dissolution, liquidation, winding up or sale of substantially all of the Company’s
assets shall be considered and acted upon.

 

5.
RESERVATION OF COMMON STOCK. A number of shares of common stock sufficient to provide for the exercise of the Warrant and
the shares of common stock included therein upon the basis herein set forth shall at all times be reserved for the exercise hereof.

 

6.
MISCELLANEOUS. Whenever reference is made herein to the issue or sale of shares of common stock, the terms “common stock”
or “shares” shall include any stock of any class of the Company other than preferred stock that has a fixed limit
on dividends and a fixed amount payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of
the Company.

 

(a)
The Company will not, by amendment of its Articles of Incorporation or through reorganization, consolidation, merger, dissolution
or sale of assets, or by any other voluntary act or deed, avoid or seek to avoid the observance or performance of any of the covenants,
stipulations or conditions to be observed or performed hereunder by the Company, but will, at all times in good faith, assist,
insofar as it is able, in the carrying out of all provisions hereof and in the taking of all other action which may be necessary
in order to protect the rights of the Holder hereof against dilution.

 

(b)
The representations, warranties and agreements herein contained shall survive the exercise of this Warrant. References to
the “Holder of” include the immediate Holder of shares purchased on the exercise of this Warrant, and the word “Holder”
shall include the plural thereof. This Warrant shall be interpreted under the laws of the State of Nevada.

 

(c)
All shares or other securities issued upon the exercise of the Warrant shall be validly issued, fully paid and non assessable,
and the Company will pay all taxes in respect of the issuer hereof.

 

(d)
Notwithstanding anything contained herein to the contrary, the Holder of this Warrant shall not be deemed a shareholder of
the Company for any purpose whatsoever until and unless this Warrant is duly exercised or converted.

 

    	4

    	 

    

 

IN WITNESS
WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of this 19th day of
August 2013.

 

	JAMESON
    STANFORD RESOURCES CORPORATION
	 	 	 
	By:	/s/ Michael
    Stanford	 
	Name:	Michael Stanford	 
	 	 	 
	Title:	President &
    Chief Executive Officer	 
	 	 	 
	Date:	August 19, 2013	 

 

    	5

    	 

    

 

Exhibit to Common Stock Purchase Warrant
dated August 19, 2013

 

NOTICE OF EXERCISE OF WARRANT TO PURCHASE
SHARES OF

COMMON STOCK OF JAMESON STANFORD RESOURCES
CORPORATION

 

The undersigned does by
this notice request that Jameson Stanford Resources Corporation, a Nevada corporation (the “Company”), issue
to the undersigned that number of shares of Common Stock of the Company specified below (the “Shares”) at the
price per Share specified below pursuant to the exercise of the undersigned’s rights under the Common Stock Purchase Warrant
(the “Warrant”) dated August 19, 2013.

 

Simultaneously herewith,
the undersigned delivers to the Company the purchase price for the Shares (i.e., that amount which is obtained by multiplying the
number of Shares for which the Warrant is being exercised by the price specified), by good funds. In the event of Net Issue Exercise
no payment is required.

 

The undersigned hereby
represents and warrants that the undersigned is acquiring the Shares for the undersigned’s own account and not on behalf
of any other person and without any present view to making a public offering or distribution of same and without any present intention
of selling same at any particular time or at any particular price or upon the occurrence of any particular event or circumstance.

 

The undersigned acknowledges
and understands that in connection with the acquisition of the Shares by the undersigned:

 

		1.	The Company has informed the undersigned that the Shares are not registered under the Securities
Act of 1933, as amended (the “Securities Act”), or applicable state securities or Blue Sky law or laws, and
thus the Shares may not be transferred or otherwise disposed of until the Shares are subsequently registered under the Securities
Act and the applicable state securities or Blue Sky law or laws or an ex-emption from such registration requirements is available.

 

		2.	The undersigned has been informed that a legend referring to the restrictions indicated herein
on transferability and sale will be placed upon the certificate(s) evidencing the Shares.

 

		3.	The undersigned is an “accredited investor” as defined in Regulation D under the Securities
Act, as amended.

 

		4.	If the undersigned is required to file a Form 144 with the Securities and Exchange Commission in
connection with sales of the Shares pursuant to Rule 144 under the Act, the undersigned shall mail a copy of such Form to the Company
at the same time and each time the undersigned mails a copy to the Securities and Exchange Commission.

 

    	6

    	 

    

 

Cash Exercise:

 

	A.	Date of Warrant: August 19, 2013
	 	 
	B	.Number of Shares purchasable under Warrant: 500,000
	 	 
	C.	Number of Shares of Common Stock to be purchased at this time: _________________
	 	 
	D.	Exercise price per Share: $1.00
	 	 
	E.	Aggregate price to be paid for
Shares actually purchased (D*C) = $__________________

 

OR

 

	 	Net Issue Exercise:
	 	 
	A.	Date of Warrant: August 19, 2013
	 	 
	B.	Number of Warrant Shares covered by Warrant: 500,000 (Y)
	 	 
	C.	Market value of one Share of Common Stock (Z)
	 	 
	D.	Exercise price per Share: $1.00 (T)
	 	 
	E.	Number of Warrant Shares to
be issued to the Holder:_________________(X)
	 	 
	 	     Where: X= Y*(Z-T)/Z

 

	PURCHASER	 
	 	 	 
	By:	/s/ Joseph Marchal	 
	 	 	 
	Name:	Joseph Marchal	 
	 	 	 
	Date:	 	 

 

    	7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]