Document:

Exhibit 10.9

 

PURCHASE AND SALE AGREEMENT

 

The Woodscape Building: Birmingham, AL

 

THIS AGREEMENT (“Agreement”)
is made and entered into as of March 31, 2014 (the “Effective Date”) by and between ARCP ACQUISITIONS,
LLC (“Buyer”), and WOODSCAPE, LTD. (“Seller”).

 

In consideration of
the mutual promises set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as follows:

 

1.           Terms and
Definitions.  The terms listed below shall have the respective meaning
given them as set forth adjacent to each term.

 

(a)         “Broker”
shall mean Brian Saal of Jones Lang LaSalle, acting as Seller’s agent.

 

(b)         “Closing”
shall mean the consummation of the transaction contemplated herein, which shall occur, subject to any applicable extension periods
set forth in this Agreement, on the date that is ten (10) days after the last day of the Due Diligence Period (as defined herein)
unless the Buyer waives the full Due Diligence Period and elects to close earlier by providing written notice thereof to Seller.  The
date of Closing is sometimes hereinafter referred to as the “Closing Date.” Neither party will need to
be present at Closing, it being anticipated that the parties will deliver all Closing documents and deliverables in escrow to the
Escrow Agent (or, if both Buyer and Seller agree, to Buyer’s and Seller’s counsel) prior to the date of Closing.

 

(c)         “Due
Diligence Period” shall mean the period commencing on the Effective Date and extending until 11:59 PM EST on the
date that is thirty (30) days thereafter, excluding the Effective Date, or the date on which Seller receives written notice of
Buyer’s waiver of the Due Diligence Period.  Seller shall deliver to Buyer all of the Due Diligence Materials within
five (5) days after the Effective Date, and for each day that passes thereafter until all of the Due Diligence Materials are delivered
to Buyer, the Due Diligence Period and the Closing Date shall be extended by one (1) business day.  

 

(d)         “Earnest
Money” shall mean THREE HUNDRED TWENTY FIVE THOUSAND and NO/100 DOLLARS ($325,000.00).  The Earnest Money
shall be delivered to Escrow Agent within three (3) business days after the Effective Date.  The Earnest Money shall
be deposited by Buyer in escrow with Escrow Agent, to be applied as part payment of the Purchase Price at the time the sale is
closed, or disbursed as agreed upon in accordance with the terms of this Agreement.  

 

(e)         “Escrow
Agent” shall mean First American Title Insurance Company with its office located at 2425 E. Camelback Road, Ste.
300, Phoenix, AZ 85016, Telephone: 602-567-8139; Telecopy: 602-567-8101; E-Mail: kribrown@firstam.com.  The parties
agree that the Escrow Agent shall be responsible for (x) organizing the issuance of the Title Commitment and Title Policy, (y)
preparation of the closing statement, and (z) collection and disbursement of

 

    	 

    	 

    

 

(f)          the funds. Agent
shall retain Jefferson Title Corporation to serve as the local Alabama title agent in connection with services to be provided by
Escrow Agent pursuant to this Agreement.

 

(g)         “Lease”
shall mean that certain Lease dated as of April 12, 1988, between Seller, as landlord, and Tenant, as tenant, as amended.

 

(h)         “Net
Operating Income” shall mean TWO MILLION ONE HUNDRED FORTY FIVE THOUSAND EIGHTEEN AND 0/100 DOLLARS ($2,145,018.00),
calculated in accordance with Exhibit A-1 attached hereto.

 

(i)          “Property”
shall mean (a) that certain real property located at 2545 Rocky Ridge Lane, Birmingham, AL, being more particularly described on
Exhibit A, attached hereto and incorporated herein (the “Real Property”) together with all buildings,
facilities and other improvements located thereon (collectively, the “Improvements”); (b) all right,
title and interest of Seller under the Lease and all security deposits (if any) that Seller is holding pursuant to the Lease; (c)
all right, title and interest of Seller in all machinery, furniture, equipment and items of property of Seller attached or appurtenant
to, located on or used in the ownership, use, operation or maintenance of the Property or the Improvements; (d) all right, title
and interest of Seller, if any, to any unpaid award for (1) any taking or condemnation of the Property or any portion thereof,
or (2) any damage to the Property or the Improvements by reason of a change of grade of any street or highway; (e) all easements,
licenses, rights and appurtenances relating to any of the foregoing; and (f) all right, title and interest of Seller in and to
any warranties, tradenames, logos (including any federal or state trademark or tradename registrations), or other identifying name
or mark now used in connection with the Real Property and/or the Improvements, but expressly excluding any such property to the
extent owned by Tenant.

 

(j)          “Purchase
Price” shall mean THIRTY TWO MILLION TWO HUNDRED FIFTY THOUSAND and NO/100 DOLLARS ($32,250,000.00).  The
Purchase Price is based on a capitalization rate of 6.65% applied to Net Operating Income.  If Net Operating Income is
not the same as stated herein, the Purchase Price shall be adjusted accordingly.  

 

(k)         Seller and
Buyer’s Notice address 

 

(i)         “Seller’s
Notice Address” shall be as follows, except as same may be changed pursuant to the Notice section herein:

 

Woodscape, Ltd.

c/o The Sanders Trust, LLC

1000 Urban Center Drive, Suite
675

Birmingham, AL 35242

Attn: Jean Griffin

Tel. No.: 205.747.1774

Email: jgriffin@sanderstrust.com

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And to:

 

Michael J. Brandt

Wallace, Jordan, Ratliff &
Brandt, LLC

800 Shades Creek Parkway, Suite
400

Birmingham, AL 35209

Tel. No.: 205-874-0308

Email: mbrandt@wallacejordan.com

 

(ii)        “Buyer’s
Notice Address” shall be as follows, except as same may be changed pursuant to the Notice section herein:

 

Akomea Poku-Kankam

American Realty Capital Properties,
Inc.

7621 Little Avenue, Suite 200

Charlotte, NC 28226

Tel. No.: 704.626.4401

Fax No.: 646.861.7817

Email: APoku-Kankam@arcpreit.com

 

And Due Diligence Materials (if provided
by email) to:

 

duediligence@arcpreit.com

 

With hard copies and/or cds to:

 

Mandy Angiuoli

American Realty Capital Properties,
Inc.

7621 Little Avenue, Suite 200

Charlotte, NC 28226

Tel. No.: 704.626.4400

Fax No.: 212.415.6507

Email: mangiuoli@arcpreit.com

 

(l)          “Tenant”
shall mean State Department of Education of the State of Alabama.

 

2.           Purchase and
Sale of the Property.  Subject to the terms of this Agreement, Seller agrees to sell to Buyer, and Buyer agrees to
purchase from Seller, the Property for the Purchase Price.  

 

3.           Payment of
Purchase Price.  The Purchase Price to be paid by Buyer to Seller shall be paid by wire transfer of immediately available
funds in the amount of the Purchase Price plus or minus prorations, credits and adjustments as provided in Section 4 and elsewhere
in this Agreement to Escrow Agent, at the time of Closing, or as otherwise agreed to between Buyer and Seller.

 

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 4.           Proration of Expenses and Payment of Costs and Recording Fees.

 

(a)         All real estate
taxes, rollback taxes, personal property taxes, water and sewer use charges, and any other charges and assessments constituting
a lien on the Property (collectively “Taxes and Assessments”) due and payable on or before the Closing
Date shall be remitted to the collecting authorities or to the Escrow Agent by Seller prior to or at Closing.  Taxes
and Assessments payable shall be adjusted as of the Closing Date..

 

(b)         All rents shall
be prorated as of the Closing Date with Buyer being credited for rent attributable to the day of Closing through and including
the last day of the calendar month in which the Closing Date occurs. Seller agrees to the extent that it receives any rent attributable
to any period after Closing, it will pay such amount to Buyer as soon as reasonably possible.

 

(c)         Seller shall
pay or be charged with the following costs and expenses in connection with this transaction:

 

(i)          100% of all Title
Policy premiums, including search costs and a survey endorsement, but excluding any other endorsements issued in connection with
such policies other than endorsements that Seller elects to purchase to cover title issues, if any;

 

(ii)         Transfer taxes
and conveyance fees on the sale and transfer of the Property;

 

(iii)        Broker’s
commission payments (for both leasing and sales commissions earned), in accordance with Section 23 of this Agreement; and

 

(iv)        All fees relating
to the granting, executing and recording of the Deed for the Property and for any costs incurred in connection with the release
of existing debt, including, but not limited to, prepayment penalty fees and recording fees for documents providing for the release
of the applicable Property from the existing debt.

 

(d)         Buyer shall
pay or be charged with the following costs and expenses in connection with this transaction:

 

(i)          Title Policy premiums
for any endorsements issued in connection with such policies other than endorsements that Seller elects to purchase to cover title
issues, if any, and other than a survey endorsement;

 

(ii)         all costs and
expenses in connection with Buyer’s financing, including appraisal, points, commitment fees and the like and costs for the
filing of all documents necessary to complete such financing and related documentary stamp tax and intangibles tax; and

 

(iii)        Buyer shall
pay for the cost of its own survey, Phase 1 environmental study and due diligence investigations.

 

(e)         Each party shall
pay its own legal fees incidental to the negotiation, execution and delivery of this Agreement and the consummation of the transactions
contemplated hereby.

 

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(f)          Seller and Buyer
each shall pay one-half of all reasonable escrow fees charged by Escrow Agent.

 

5.           Title.  At
Closing, Seller agrees to convey to Buyer fee simple marketable title to the Property by special warranty deed, free and clear
of all liens, defects of title, conditions, easements, assessments, restrictions, and encumbrances except for Permitted Exceptions
(as hereinafter defined).  

 

6.           Examination
of Property.  Seller and Buyer hereby agree as follows:

 

(a)         Buyer shall order
a title commitment (the “Title Commitment”) from Escrow Agent, a survey and a zoning report for the Property
promptly after the date hereof.  All matters shown in the Title Commitment, survey or zoning report (“Title
Matters”) with respect to which Buyer fails to object prior to the expiration of the Due Diligence Period shall be
deemed “Permitted Exceptions”.  However, Permitted Exceptions shall not include any mechanic’s
lien or any monetary lien, or any deeds of trust, mortgage, or other loan documents secured by the Property, (collectively, “Liens”).  Seller
shall be required to cure or remove all Liens (by payment, bond deposit or indemnity acceptable to Escrow Agent).   Seller
agrees to remove or cure any objections of Buyer which are of a nature that are capable of being cured with reasonable efforts
prior to Closing.  Seller shall have no obligation to cure any Title Matter objected to, except as aforesaid, provided
Seller notifies Buyer of any objections which Seller elects not to remove or cure within five (5) business days following receipt
of Buyer’s objections.  In the event that Seller refuses to remove or cure any objections, Buyer shall have the
right to terminate this Agreement upon written notice to Seller given within five (5) business days after receipt of Seller’s
notice, upon which termination the Earnest Money shall be returned to Buyer and neither party shall have any further obligation
hereunder, except as otherwise expressly set forth herein.  If any matter not revealed in the Title Commitment is discovered
by Buyer or by the Escrow Agent and is added to the Title Commitment by the Escrow Agent at or prior to Closing, Buyer shall have
until the earlier of (i) ten (10) days after the Buyer’s receipt of the updated, revised Title Commitment showing the new
title exception, together with a legible copy of any such new matter, or (ii) the date of Closing, to provide Seller with written
notice of its objection to any such new title exception (an “Objection”).  If Seller does not
remove or cure such Objection prior to the date of Closing, Buyer may terminate this Agreement, in which case the Earnest Money
shall be returned to Buyer, Seller shall reimburse Buyer for all out of pocket costs and expenses incurred hereunder and neither
party shall have any further obligation hereunder, except as otherwise expressly set forth herein.

 

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(b)         Within five (5)
days following the Effective Date, Seller shall provide to Buyer copies of the following documents and materials pertaining to
the Property to the extent within Seller’s possession or reasonably obtainable by Seller or Seller’s counsel: (i) a
complete copy of all leases affecting the Property and all amendments thereto and of all material correspondence relating thereto;
(ii) a copy of all surveys and site plans of the Property, including without limitation any as-built survey obtained or delivered
to tenants of the Property in connection with its construction; (iii) a copy of all architectural plans and specifications and
construction drawings and contracts for improvements located on the Property; (iv) a copy of Seller’s title insurance commitments
and policies relating to the Property; (v) a copy of the certificate of occupancy and zoning reports for the Property; and of all
governmental permits/approvals; (vi) a copy of all environmental, engineering and physical condition reports for the Property;
(vii) copies of the Property’s real estate tax bills for the current and prior two (2) tax years; (viii) the current operating
budget for the Property (ix) the operating statements of the Property for the twenty four (24) calendar months immediately preceding
the Effective Date; (x) all service contracts and insurance policies which affect the Property, if any; (xi) a copy of all warranties
relating to the improvements constructed on the Property, including without limitation any structural slab or roof warranties;
and (xii) a written inventory of all items of personal property to be conveyed to Buyer, if any (the “Due Diligence
Materials”).  Seller shall deliver any other documents relating to the Property reasonably requested by
Buyer, to the extent within Seller’s possession or reasonably obtainable by Seller or Seller’s counsel, within three
(3) business days following such request.  Additionally, during the term of this Agreement, Buyer, its agents and designees,
shall have the right to enter the Property for the purposes of inspecting the Property, conducting soil tests, and making surveys,
mechanical and structural engineering studies, inspecting construction, and conducting any other investigations and inspections
as Buyer may reasonably require to assess the condition and suitability of the Property; provided, however, that such activities
by or on behalf of Buyer on the Property shall not damage the Property nor interfere with construction on the Property or the conduct
of business by Tenant under the Lease; and provided further, however, that Buyer shall indemnify and hold Seller harmless from
and against any and all claims or damages to the extent resulting from the activities of Buyer on the Property, and Buyer shall
repair any and all damage caused, in whole or in part, by Buyer and return the Property to its condition prior to such damage,
which obligation shall survive Closing or any termination of this Agreement.  Seller shall reasonably cooperate with
the efforts of Buyer and the Buyer’s representatives to inspect the Property.  After the Effective Date, Buyer
shall be permitted to speak and meet with Tenant in connection with Buyer’s due diligence.  Upon signing this agreement,
Seller shall provide Buyer with the name of a contact person(s) for the purpose of arranging site visits.  Buyer shall
give Seller reasonable written notice (which in any event shall not be less than two (2) business days) before entering the Property,
and Seller may have a representative present during any and all examinations, inspections and/or studies on the Property.  Buyer
shall have the unconditional right, for any reason or no reason, to terminate this Agreement by giving written notice thereof to
Seller and the Escrow Agent prior to the expiration of the Due Diligence Period, in which event this Agreement shall become null
and void, Buyer shall receive a refund of the Earnest Money, and all rights, liabilities and obligations of the parties under this
Agreement shall expire, except as otherwise expressly set forth herein.

 

(c)         Within two (2)
days following the Effective Date, Seller shall request (i) an estoppel certificate from Tenant in the form attached hereto as
Exhibit E (the “Tenant Estoppel”) and (ii) a waiver of tenant’s right of first refusal,
if any.  The Tenant Estoppel shall be certified as follows: “ARCP Acquisitions, LLC, ARCP OFC BIRMINGHAM AL, LLC,
and their lender, successors and assigns”.  Seller shall promptly deliver to Buyer photocopies or pdf files of
the executed Tenant Estoppel and waiver when Seller receives the same.

 

(d)         Seller shall use
good faith efforts to obtain subordination, non-disturbance and attornment agreement from Tenant in form and substance reasonably
acceptable to Buyer and Buyer’s Lender, if applicable (the “SNDA”).

 

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(e)         Seller shall use
good faith efforts to obtain estoppel certificates with respect to reciprocal easement agreements as may be reasonably requested
by Buyer.

 

7.           Risk
of Loss/Condemnation.  Upon an occurrence of a casualty, condemnation
or taking, Seller shall notify Buyer in writing of same.  Until Closing, the risk of loss or damage to the Property,
except as otherwise expressly provided herein, shall be borne by Seller.  In the event all or any portion of the Property
is damaged in any casualty or condemned or taken (or notice of any condemnation or taking is issued) so that: (a) Tenant has a
right of termination or abatement of rent under the Lease, or (b) with respect to any casualty, if the cost to repair such casualty
would exceed $50,000, or (c) with respect to any condemnation, any Improvements or access to the Property or more than five percent
(5%) of the Property is (or will be) condemned or taken, then, Buyer may elect to terminate this Agreement by providing written
notice of such termination to Seller within ten (10) business days after Buyer’s receipt of notice of such condemnation,
taking or damage, upon which termination the Earnest Money shall be returned to the Buyer and neither party hereto shall have
any further rights, obligations or liabilities under this Agreement, except as otherwise expressly set forth herein.  With
respect to any condemnation or taking (of any notice thereof), if Buyer does not elect to cancel this Agreement as aforesaid,
there shall be no abatement of the Purchase Price and Seller shall assign to Buyer at the Closing the rights of Seller to the
awards, if any, for the condemnation or taking, and Buyer shall be entitled to receive and keep all such awards.  With
respect to a casualty, if Buyer does not elect to terminate this Agreement or does not have the right to terminate this Agreement
as aforesaid, there shall be no abatement of the Purchase Price and Seller shall assign to Buyer at the Closing the rights of
Seller to the proceeds under Seller’s insurance policies covering such Property with respect to such damage or destruction
(or pay to Buyer any such proceeds received prior to Closing) and pay to Buyer the amount of any deductible with respect thereto,
and Buyer shall be entitled to receive and keep any monies received from such insurance policies.

 

8.           Earnest
Money Disbursement.  The Earnest Money shall be held by Escrow Agent,
in trust, and disposed of only in accordance with the following provisions:

 

(a)         If the Closing
occurs, Escrow Agent shall deliver the Earnest Money to, or upon the instructions of, Seller and Buyer on the Closing Date to be
applied as part payment of the Purchase Price.  If for any reason the Closing does not occur, Escrow Agent shall deliver
the Earnest Money to Seller or Buyer only upon receipt of a written demand therefor from such party, subject to the following provisions
of this clause (a).  Subject to the last sentence of this clause (a), if for any reason the Closing does not occur and
either party makes a written demand (the “Demand”) upon Escrow Agent for payment of the Earnest Money,
Escrow Agent shall give written notice to the other party of the Demand within one business day after receipt of the Demand.  If
Escrow Agent does not receive a written objection from the other party to the proposed payment within five (5) business days after
the giving of such notice by Escrow Agent, Escrow Agent is hereby authorized to make the payment set forth in the Demand.  If
Escrow Agent does receive such written objection within such period, Escrow Agent shall continue to hold such amount until otherwise
directed by written instructions signed by Seller and Buyer or a final judgment of a court.  Notwithstanding the foregoing
provisions of this clause (a) if Buyer delivers a notice to Escrow Agent and Seller stating that Buyer has terminated this Agreement
on or prior to the expiration of the Due Diligence Period, then Escrow Agent shall immediately return the Earnest Money to Buyer
without the necessity of delivering any notice to, or receiving any notice from Seller.

 

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(b)         The parties acknowledge
that Escrow Agent is acting solely as a stakeholder at their request and for their convenience, that Escrow Agent shall not be
deemed to be the agent of either of the parties, and that Escrow Agent shall not be liable to either of the parties for any action
or omission on its part taken or made in good faith, and not in disregard of this Agreement, but shall be liable for its negligent
acts and for any liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred by Seller or Buyer
resulting from Escrow Agent’s mistake of law respecting Escrow Agent scope or nature of its duties.  Seller and
Buyer shall jointly and severally indemnify and hold Escrow Agent harmless from and against all liabilities (including reasonable
attorneys’ fees, expenses and disbursements) incurred in connection with the performance of Escrow Agent’s duties hereunder,
except with respect to actions or omissions taken or made by Escrow Agent in bad faith, in disregard of this Agreement or involving
negligence on the part of Escrow Agent.  Escrow Agent has executed this Agreement in the place indicated on the signature
page hereof in order to confirm that Escrow Agent shall hold the Earnest Money in escrow and shall disburse the Earnest Money pursuant
to the provisions of this Section 8.

 

9.           Default

 

(a)         In the event that
Seller is ready, willing and able to close in accordance with the terms and provisions hereof, and Buyer defaults in any of its
obligations undertaken in this Agreement, Seller shall be entitled to, as its sole and exclusive remedy to either: (i) waive such
default and proceed to Closing in accordance with the terms and provisions hereof; or (ii) declare this Agreement to be terminated,
and Seller shall be entitled to immediately receive all of the Earnest Money as liquidated damages as and for Seller’s sole
remedy.  Upon such termination, neither Buyer nor Seller shall have any further rights, obligations or liabilities hereunder,
except as otherwise expressly provided herein.  Seller and Buyer agree that (a) actual damages due to Buyer’s default
hereunder would be difficult and inconvenient to ascertain and that such amount is not a penalty and is fair and reasonable in
light of all relevant circumstances, (b) the amount specified as liquidated damages is not disproportionate to the damages that
would be suffered and the costs that would be incurred by Seller as a result of having withdrawn the Property from the market,
and (c) Buyer desires to limit its liability under this Agreement to the amount of the Earnest Money paid in the event Buyer fails
to complete Closing.  Seller hereby waives any right to recover the balance of the Purchase Price, or any part thereof,
and the right to pursue any other remedy permitted at law or in equity against Buyer.  In no event under this Section
or otherwise shall Buyer be liable to Seller for any punitive, speculative or consequential damages.

 

(b)         In the event of
a default in the obligations herein taken by Seller, or in the event of a failure of a condition precedent set forth in Section
13 of this Agreement, Buyer may, as its sole and exclusive remedy, either: (i) waive any unsatisfied conditions and proceed to
Closing in accordance with the terms and provisions hereof; (ii) terminate this Agreement by delivering written notice thereof
to Seller no later than Closing, upon which termination the Earnest Money shall be refunded to Buyer, Seller shall pay to Buyer
all of the out-of-pocket costs and expenses incurred by Buyer in connection with this Agreement (not to exceed $15,000.00), which
return and payment shall operate to terminate this Agreement and release Seller and Buyer from any and all liability hereunder,
except those which are specifically stated herein to survive any termination hereof; (iii) enforce specific performance of Seller’s
obligations hereunder.  In no event shall Seller be liable to Buyer for any punitive, speculative or indirect consequential
damages.

 

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10.         Closing.  The
Closing shall consist of the execution and delivery of documents by Seller and Buyer, as set forth below, and delivery by Buyer
to Seller of the Purchase Price in accordance with the terms of this Agreement.  Seller shall deliver to Escrow Agent
for the benefit of Buyer at Closing the following executed documents:

 

(a)         A Special Warranty
Deed in the form attached hereto as Exhibit B;

 

(b)         An Assignment
and Assumption of Lease and Security Deposits, in the form attached hereto as Exhibit C;

 

(c)         An Assignment
of Contracts, Permits, Licenses and Warranties in the form of Exhibit D;

 

(d)         An original Tenant
Estoppel issued within 30 days of the Closing Date which indicates Tenant has no knowledge of defaults under the Lease and confirms
the Annual Net Rent as set forth in the Lease;

 

(e)         A settlement statement
setting forth the Purchase Price, all prorations and other adjustments to be made pursuant to the terms hereof, and the funds required
for Closing as contemplated hereunder;

 

(f)          All transfer tax
statements, declarations and filings as may be necessary or appropriate for purposes of recordation of the deed;

 

(g)         Good standing
certificates and corporate resolutions or member or partner consents, as applicable, and such other documents as reasonably requested
by Escrow Agent;

 

(h)         Originals of all
of the warranties in effect for the Property (the “Warranties”) set forth on Exhibit H;

 

(i)          A certificate
pursuant to Section 1445 of the Internal Revenue Code of 1986, as amended, or the regulations issued pursuant thereto, certifying
the non-foreign status of Seller;

 

(j)          An owner’s
title affidavit as to mechanics’ liens and possession and other matters in customary form reasonably acceptable to Buyer
and Escrow Agent;

 

(k)         An original SNDA
fully executed and notarized by Tenant, if requested by Buyer;

 

(l)          Letter to Tenant
in form of Exhibit G attached hereto;

 

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(m)        A certificate
of insurance or other evidence reasonably satisfactory to Buyer memorializing and confirming that Tenant is then maintaining policies
of insurance of the types and in the amounts required by the Lease, which shall name Buyer and its mortgagee as additional insured
parties and/or as loss payees and/or mortgagees, as appropriate, as their respective interests may appear; and

 

(n)         Such other instruments
as are reasonably required by Buyer or Escrow Agent to close the escrow and consummate the purchase of the Property in accordance
with the terms hereof.

 

At Closing, Buyer shall
instruct Escrow Agent to deliver the Earnest Money to Seller which shall be applied to the Purchase Price, shall deliver the balance
of the Purchase Price to Seller and shall execute and deliver execution counterparts of the closing documents referenced in clauses
(b) and (f) above.  Buyer shall have the right to advance the Closing upon five (5) days prior written notice to Seller;
provided that all conditions precedent to both Buyer’s and Seller’s respective obligations to proceed with Closing
under this Agreement have been satisfied (or, if there are conditions to a party’s obligation to proceed with Closing that
remain unsatisfied, such conditions have been waived by such party).  Buyer shall have a one-time right to extend the
Closing for up to fifteen (15) business days upon written notice to Seller to be received by Seller on or prior to the date scheduled
for the Closing.  If Buyer timely exercises this right to extend, any document that Seller is obligated to provide that
is “time sensitive” does not need to be provided again by Seller.  The Closing shall be held through the
mail by delivery of the closing documents to the Escrow Agent on or prior to the Closing or such other place or manner as the parties
hereto may mutually agree.  

 

11.         Representations
by Seller.  For the purpose of inducing Buyer to enter into this Agreement
and to consummate the sale and purchase of the Property in accordance herewith, Seller makes the following representations and
warranties to Buyer as of the date hereof and as of the Closing Date:

 

(a)         Seller is duly
organized (or formed), validly existing and in good standing under the laws of its state of organization, and to the extent required
by law, the State in which the Property is located.  Seller has the power and authority to execute and deliver this Agreement
and all closing documents to be executed by Seller, and to perform all of Seller’s obligations hereunder and thereunder.  Neither
the execution and delivery of this Agreement and all closing documents to be executed by Seller, nor the performance of the obligations
of Seller hereunder or thereunder will result in the violation of any law or any provision of the organizational documents of Seller
or will conflict with any order or decree of any court or governmental instrumentality of any nature by which Seller is bound;

 

(b)         Seller has not
received any written notice of any current or pending litigation, condemnation proceeding or tax appeals affecting Seller or the
Property and Seller does not have any knowledge of any pending litigation or tax appeals against Seller or the Property; Seller
has not initiated, nor is Seller participating in, any action for a change or modification in the current subdivision, site plan,
zoning or other land use permits for the Property;

 

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(c)         Seller has not
entered into any contracts, subcontracts or agreements affecting the Property which will be binding upon Buyer after the Closing
other than the Lease;

 

(d)         Except for violations
cured or remedied on or before the date hereof, Seller has not received any written notice from (or delivered any notice to) any
governmental authority regarding any violation of any law applicable to the Property and Seller does not have knowledge of any
such violations;

 

(e)         Seller has fee
simple title to the Property, free and clear of all liens and encumbrances except for Permitted Exceptions and Seller is the sole
owner of the entire lessor’s interest in the Lease.  The Property constitutes one or more separate tax parcels
for purposes of ad valorem taxation;

 

(f)          With respect to
the Lease: (i) the Lease forwarded to Buyer under Section 6(b) is a true, correct and complete copy of the Lease; (ii) the Lease
is in full force and effect and there is no default thereunder; (iii) no brokerage or leasing commissions or other compensation
is or will be due or payable to any person, firm, corporation or other entity with respect to or on account of the current term
of the Lease or any extension or renewal thereof; (iv) Seller has no outstanding obligation to provide Tenant with an allowance
to construct, or to construct at its own expense, any tenant improvements; and (v) The total scheduled annual base rent (the “Annual
Net Rent”) for the initial term of the Lease will be $2,571,367.00 per annum, with 2.50% base rent increases annually.

 

(g)         There are no occupancy
rights, leases or tenancies affecting the Property other than the Lease.  Neither this Agreement nor the consummation
of the transactions contemplated hereby is subject to any first right of refusal or other purchase right in favor of any other
person or entity; and apart from this Agreement, Seller has not entered into any written agreements for the purchase or sale of
the Property, or any interest therein which has not been terminated; and

 

(h)         Exhibit H
attached hereto is a true, correct and complete listing of all the Warranties.

 

The representations
and warranties of Seller shall survive Closing for a period of one (1) year.

 

12.         Representations
by Buyer.  Buyer represents and warrants to, and covenants with, Seller as follows:Buyer is duly formed, validly
existing and in good standing under the laws of Delaware, is authorized to consummate the transaction set forth herein and fulfill
all of its obligations hereunder and under all closing documents to be executed by Buyer, and has all necessary power to execute
and deliver this Agreement and all closing documents to be executed by Buyer, and to perform all of Buyer’s obligations
hereunder and thereunder.  This Agreement and all closing documents to be executed by Buyer have been duly authorized
by all requisite corporate or other required action on the part of Buyer and are the valid and legally binding obligation of Buyer,
enforceable in accordance with their respective terms.  Neither the execution and delivery of this Agreement and all
closing documents to be executed by Buyer, nor the performance of the obligations of Buyer hereunder or thereunder will result
in the violation of any law or any provision of the organizational documents of Buyer or will conflict with any order or decree
of any court or governmental instrumentality of any nature by which Buyer is bound.

 

    	11

    	 

    

 

The representations
and warranties of Buyer shall survive Closing for a period of one (1) year.

 

13.         Conditions
Precedent to Buyer’s Obligations.  Buyer’s obligation to
pay the Purchase Price, and to accept title to the Property, shall be subject to compliance by Seller with the following conditions
precedent on and as of the date of Closing:

 

(a)         Seller shall deliver
to Buyer on or before the Closing the items set forth in Section 10 above;

 

(b)         Buyer shall receive
from Escrow Agent or any other title insurer approved by Buyer in its judgment and discretion, a current ALTA owner’s form
of title insurance policy, or irrevocable and unconditional binder to issue the same, with extended coverage for the Real Property
in the amount of the Purchase Price, dated, or updated to, the date of the Closing, insuring, or committing to insure, at its ordinary
premium rates Buyer’s good and marketable title in fee simple to the Real Property and otherwise in such form and with such
endorsements as provided in the title commitment approved by Buyer pursuant to Section 6 hereof and subject only to the Permitted
Exceptions (the “Title Policy”);

 

(c)         Buyer shall have
received a valid and permanent final certificate of occupancy (or the equivalent thereof) for the Property which shall not contain
any contingencies or require any additional work to be completed;

 

(d)         Tenant shall be
in possession of the premises demised under the Lease, open for business to the public and paying full and unabated rent under
the Leases and Tenant shall not have assigned or sublet the Property;

 

(e)         The representations
and warranties of Seller contained in this Agreement shall have been true when made and shall be true in all material respects
at and as of the date of Closing as if such representations and warranties were made at and as of the Closing, and Seller shall
have performed and complied in all material respects with all covenants, agreements and conditions required by this Agreement to
be performed or complied with by Seller prior to or at the Closing;

 

(f)          Seller shall have
delivered to Buyer a written waiver by Tenant of any right of first refusal, right of first offer or other purchase option that
Tenant has pursuant to the Lease to purchase the Property from Seller; and

 

(g)         Seller shall have
made all contributions, payments and/or reimbursements and completed any and all work required by any governmental authority in
connection with the construction and development of the Property, including, without limitation, as required by any variance or
site plan approval.

 

    	12

    	 

    

 

In the event that any
of the foregoing conditions precedent has not been satisfied as of Closing, Buyer shall have the rights and remedies set forth
in Section 9(b) of this Agreement.

 

14.         Conditions
Precedent to Seller’s Obligations.  Seller’s obligation to
deliver title to the Property shall be subject to compliance by Buyer with the following conditions precedent on and as of the
date of Closing:

 

(a)         Buyer shall deliver
to Escrow Agent on the Closing Date the remainder of the Purchase Price, subject to adjustment of such amount pursuant to Section
2 hereof; and

 

(b)         The representations
and warranties of Buyer contained in this Agreement shall have been true when made and shall be true in all material respects at
and as of the date of Closing as if such representations and warranties were made at and as of the Closing, and Buyer shall have
performed and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be
performed or complied with by Buyer prior to or at the Closing.

 

15.         Notices.  Unless
otherwise provided herein, all notices and other communications which may be or are required to be given or made by any party
to the other in connection herewith shall be in writing and shall be deemed to have been properly given and received on the date:
(i) delivered by facsimile transmission or by electronic mail (e.g. email), (ii) delivered in person, (iii) deposited in the United
States mail, registered or certified, return receipt requested, or (iv) deposited with a nationally recognized overnight courier,
to the addresses set out in Section 1, or at such other addresses as specified by written notice delivered in accordance herewith.  Notwithstanding
the foregoing, Seller and Buyer agree that notice may be given on behalf of each party by the counsel for each party and notice
by such counsel in accordance with this Section 15 shall constitute notice under this Agreement.

 

16.         Seller
Covenants.  Seller agrees that it: (a) shall continue to operate and
manage the Property in the same manner in which Seller has previously operated and managed the Property; (b) shall, subject to
Section 7 hereof and subject to reasonable wear and tear, maintain the Property in the same (or better) condition as exists on
the date hereof; and (c) shall not, without Buyer’s prior written consent, which, after the expiration of the Due Diligence
Period may be withheld in Buyer’s sole discretion: (i) amend the Lease in any manner, nor enter into any new lease, license
agreement or other occupancy agreement with respect to the Property; (ii) consent to an assignment of the Lease or a sublease
of the premises demised thereunder or a termination or surrender thereof; (iii) terminate the Lease nor release any guarantor
of or security for the Lease unless required by the express terms of the Lease; and/or (iv) cause, permit or consent to an alteration
of the premises demised thereunder (unless such consent is non-discretionary).  Seller shall promptly inform Buyer in
writing of any material event adversely affecting the ownership, use, occupancy or maintenance of the Property, whether insured
or not.

 

17.         Performance
on Business Days.  A “business day” is a day which is not a
Saturday, Sunday or legal holiday recognized by the Federal Government.  Furthermore, if any date upon which or by which
action is required under this Agreement is not a business day, then the date for such action shall be extended to the first day
that is after such date and is a business day.

 

    	13

    	 

    

 

18.         Entire
Agreement.  This Agreement constitutes the sole and entire agreement
among the parties hereto and no modification of this Agreement shall be binding unless in writing and signed by all parties hereto.  
No prior agreement or understanding pertaining to the subject matter hereof (including, without limitation, any letter of intent
executed prior to this Agreement) shall be valid or of any force or effect from and after the date hereof.

 

19.         Severability.  If
any provision of this Agreement, or the application thereof to any person or circumstance, shall be invalid or unenforceable,
at any time or to any extent, then the remainder of this Agreement, or the application of such provision to persons or circumstances
other than those as to which it is invalid or unenforceable, shall not be affected thereby.  Each provision of this
Agreement shall be valid and enforced to the fullest extent permitted by law.

 

20.         No
Representations or Warranties.  Buyer hereby acknowledges, understands
and agrees that it has an opportunity to inspect the Property as set forth in Section 6 herein, and except as set forth in this
Agreement, the Property shall be conveyed at Closing to Buyer in “as-is” condition with no representation or warranties
whatsoever.

 

21.         Applicable
Law.  This Agreement shall be construed under the laws of the State or
Commonwealth in which the Property is located, without giving effect to any state’s conflict of laws principles.

 

22.         Tax-Deferred
Exchange.  Buyer and Seller respectively acknowledge that the purchase
and sale of the Property contemplated hereby may be part of a separate exchange (an “Exchange”) being
made by each party pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated
with respect thereto.  In the event that either party (the “Exchanging Party”) desires to
effectuate such an exchange, then the other party (the “Non-Exchanging Party”) agrees to cooperate fully
with the Exchanging Party in order that the Exchanging Party may effectuate such an exchange; provided, however, that with respect
to such Exchange (a) all additional costs, fees and expenses related thereto shall be the sole responsibility of, and borne by,
the Exchanging Party; (b) the Non-Exchanging Party shall incur no additional liability as a result of such exchange; (c) the contemplated
exchange shall not delay any of the time periods or other obligations of the Exchanging Party hereby, and without limiting the
foregoing, the scheduled date for Closing shall not be delayed or adversely affected by reason of the Exchange; (d) the accomplishment
of the Exchange shall not be a condition precedent or condition subsequent to the Exchanging Party’s obligations under the
Agreement; and (e) the Non-Exchanging Party shall not be required to hold title to any land other than the Property for purposes
of the Exchange.  The Exchanging Party agrees to defend, indemnify and hold the Non-Exchanging Party harmless from any
and all liability, damage or cost, including, without limitation, reasonable attorney’s fees that may result from Non-Exchanging
Party’s cooperation with the Exchange. The Non-Exchanging Party shall not, by reason of the Exchange, (i) have its rights
under this Agreement, including, without limitation, any representations, warranties and covenants made by the Exchanging Party
in this Agreement (including but not limited to any warranties of title, which, if Seller is the Exchanging Party, shall remain
warranties of Seller), or in any of the closing documents (including but not limited to any warranties of title, which, if Seller
is the Exchanging Party, shall remain warranties of Seller) contemplated hereby, adversely affected or diminished in any manner,
or (ii) be responsible for compliance with or deemed to have warranted to the Exchanging Party that the Exchange complies with
Section 1031 of the Code.

 

    	14

    	 

    

 

23.         Broker’s
Commissions.  Buyer and Seller each hereby represent that, except for
the Broker listed herein, there are no other brokers involved or that have a right to proceeds in this transaction.  Seller
shall be responsible for payment of commissions to the Broker pursuant to a separate written agreement executed by Seller.  Seller
and Buyer each hereby agree to indemnify and hold the other harmless from all loss, cost, damage or expense (including reasonable
attorneys’ fees at both trial and appellate levels) incurred by the other as a result of any claim arising out of the acts
of the indemnifying party (or others on its behalf) for a commission, finder’s fee or similar compensation made by any broker,
finder or any party who claims to have dealt with such party (except that Buyer shall have no obligations hereunder with respect
to any claim by Broker).  The representations, warranties and indemnity obligations contained in this section shall
survive the Closing or the earlier termination of this Agreement.

 

24.         Assignment.  Except
as set forth in this Section 25, Buyer shall not sell, assign or transfer all or any part of its interest in and to this Agreement
without the prior written consent of Seller, which consent shall not be unreasonably withheld.  Notwithstanding the
foregoing, Buyer may assign its rights under this Agreement to (i) a subsidiary of American Realty Capital Properties, Inc., or
(iii) an entity receiving advisory services from American Realty Capital Properties, Inc. or any of its subsidiaries (“Approved
Assignee”).  The notice address for the Approved Assignee is 106 York Road, Jenkintown, PA 19046.  No
such assignment shall relieve Buyer of any of its obligations hereunder.

 

25.         Attorneys’
Fees.  In any action between Buyer and Seller as a result of failure to perform or a default under this Agreement,
the prevailing party shall be entitled to recover from the other party, and the other party shall pay to the prevailing party,
the prevailing party’s attorneys’ fees and disbursements and court costs incurred in such action

 

26.         Time of the
Essence.  Time is of the essence with respect to each of Buyer’s and Seller’s obligations hereunder.

 

27.         Counterparts.  This
Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become
a binding agreement when one or more counterparts have been signed by each of the parties and delivered to the other party.  Signatures
on this Agreement which are transmitted by electronically shall be valid for all purposes, however any party shall deliver an original
signature on this Agreement to the other party upon request.

 

28.         Anti-Terrorism.  Neither
Buyer or Seller, nor any of their affiliates, are in violation of any Anti-Terrorism Law (as hereinafter defined) or engages in
or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate,
any of the prohibitions set forth in any Anti-Terrorism Law. “Anti-Terrorism Laws” shall mean any laws relating to
terrorism or money laundering, including: Executive Order No. 13224; the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56, as the same has been, or may hereafter be, renewed,
extended, amended or replaced; the applicable laws comprising or implementing the Bank Secrecy Act; and the applicable laws administered
by the United States Treasury Department’s Office of Foreign Asset Control (as any of the foregoing may from time to time
be amended, renewed, extended, or replaced).

 

[SIGNATURES APPEAR ON THE FOLLOWING PAGES]

 

    	15

    	 

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the Effective Date.  

 

	BUYER:	 	SELLER:
	 	 	 
	ARCP ACQUISITIONS, LLC	 	WOODSCAPE, LTD.
	 	 	 	 
	By: ARC PROPERTIES OPERATING	 	By:	Woodscape, Inc., its General Partner
	PARTNERSHIP, L.P. its sole Member	 	 	 
	 	 	 	 	By:	/s/ Rance M. Sanders
	By:	/s/ O. Akomea Poku-Kankam	 	 	Name:	Rance M. Sanders
	 	Name:	O. Akomea Poku-Kankam	 	 	Title:	President
	 	Title:	Authorized Signatory	 	 	Date:	March 31, 2014
	 	Date:	March 31, 2014	 	 	 

 

THE UNDERSIGNED HEREBY ACKNOWLEDGES AND AGREES TO BE BOUND BY
THE TERMS OF THIS AGREEMENT RELATING TO ESCROW AGENT AND THE EARNEST MONEY.

 

ESCROW AGENT:

 

FIRST AMERICAN TITLE INSURANCE COMPANY

 

	 	 
	 	 	 
	By:	/s/ Kristin Brown	 
	 	 	 
	Name:	Kristin Brown	 
	 	 	 
	Title:	Escrow Officer	 
	 	 	 
	Date:	April 1, 2014	 

 

[SIGNATURE PAGE TO PURCHASE AND SALE AGREEMENT]Master
Services Agreement

 

This MASTER SERVICES AGREEMENT (“Agreement”)
is made and entered into as of May 15, 2014 (the “Effective Date”), by and between CloudWebStore, Inc.,
a Missouri limited liability with offices located at 5042 Wilshire Blvd, #26900, Los Angeles, CA 90036 (the “Company”),
and StationDigital Corporation, a Delaware corporation with offices located at 9465 Wilshire Blvd, Suite 300, Beverly Hills,
CA 90212 (“Client”).

 

BACKGROUND

 

The Company sells and
distributes a variety of digital and physical products (“Products”), both directly and through a network
of partners (the “Company Network”), through its proprietary e-commerce platform (the “Company
eStore”). Client wishes to become a part of the Company Network by adding a tailored and branded eStore (the “Client
eStore”) to the Client’s website (the “Client Website”). Company agrees to develop,
host and provide the Client eStore to Client subject to the terms and conditions of this Agreement (collectively, the “Services”).

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein and for other good and valuable consideration, the sufficiency of which
is hereby acknowledged, the parties agree as follows:

 

SECTION 1. DEFINITIONS

 

All capitalized terms used and not otherwise
defined in this Agreement shall have the meaning ascribed thereto below:

 

“Confidential Information”
shall mean all information of any kind, whether written or oral, regarding Company or any of its businesses or operations, including,
without limitation, information concerning Company’s or its licensors’ products, services, website, software, product
development, product pricing, product maintenance, business plans, strategies, business partners and alliances, finances, operations,
assets, suppliers, customers, clients, employees, contracts, systems and processes, whether such information is obtained before
or after the date of this Agreement, through any means or source or from any Company officer, director, employee, shareholder,
member, advisor, consultant, contractor, agent or representative. Notwithstanding the foregoing, Confidential Information shall
exclude information (a) available to the public other than by a breach of this Agreement; (b) rightfully received from a third
party not in breach of a contractual, fiduciary or other obligation of confidentiality; (c) known to Client at the time of disclosure
as evidenced by the written records of Client at the time of disclosure or independently developed by a party without reference
to any of the Confidential Information; or (d) produced in compliance with any court order; provided, however, that Client gives
Company reasonable notice that such Confidential Information is being sought by a third party, so as to afford Company the opportunity
to limit or prevent such disclosure.

 

“Gross Revenue” shall
mean total revenue actually collected by Company from users relating to sales (or, if applicable, rentals or subscriptions) of
Products through the Client eStore, less applicable sales taxes or duties which are required to be collected and withheld, if any,
by law of a province, state or country.

 

“Intellectual Property Rights”
shall mean the intangible legal rights or interests evidenced by or embodied in (a) any idea, design, concept, technique, invention,
discovery or improvement, regardless of patentability, but including patents, patent applications, trade secrets, and know-how;
(b) any work of authorship, regardless of copyrightability, but including copyrights and any moral rights recognized by law; (c)
any trademark, trade name, service mark or logo; and (d) any other intellectual property, proprietary or similar rights, including
all goodwill pertaining thereto, and in each case, on a worldwide basis.

 

“Net Revenue” shall
mean Gross Revenue less (a) refunds and returns, (b) credit card chargebacks and third party ecommerce transaction costs incurred
or experienced by Company in connection with sales (or, if applicable, rentals or subscriptions) of Products through the Client
eStore, and (c) the cost of goods sold relating to sales (or, if applicable, rentals or subscriptions) of Products through the
Client eStore.

 

    	 

    	 

    

 

“Sales
Price” shall mean the price the Products are made available for sale (or, if applicable, for rental or subscription)
on the Client Website.

 

“Client
Materials” shall mean any trademarks, service marks, trade names, logos, content, information, and other materials (including
their associated Intellectual Property Rights) provided by Client to Company to provide the Services.

 

“Client Products” shall
mean any Products sold in the Client eStore that are supplied to the Company eStore by Client.

 

“Premium Content” shall
mean content that may incur a minimum guarantee, advance charge, marketing commitment, or other charge beyond the standard Company
eStore Products as may be offered and updated from time to time by Company. Examples may be, but are not limited to, popular and
premium movies, music, streaming content, best-selling books, software, or games.

 

SECTION 2. SERVICES

 

2.1          Client eStore. Subject to
the terms and conditions of this Agreement, Company shall use commercially reasonable efforts to develop, host and operate the
Client eStore on a separate portion of Client Website as mutually agreed by the parties. The Client eStore will conform to the
functional specifications detailed in EXHIBIT A hereto (the “Specifications”) based upon
Company’s standard Company eStore (as may be amended and modified from time to time in Company’s sole discretion) and
customized using (a) the Client Materials provided by Client to Company and (b) the skin style and “look and feel”
designated by Client. Company will host the Client eStore at an URL mutually agreed upon by the parties. Client grants to Company
a nonexclusive right and license during the term of this Agreement to use all trademarks owned or used by Client in connection
with the sale, rental or distribution of the Client Products in conjunction with Company’s development, hosting and operation
of the Client eStore. Client shall be responsible for securing the Client eStore domain name or URL and shall have sole ownership
and control of the Client eStore domain name or URL.

 

		2.2	Development Plan.

 

2.2.1      In
connection with the development, establishment and set-up of the Client eStore, Company shall prepare a development plan (the
“Development Plan”) designed to satisfy the Specifications, which Development Plan shall include (a)
detailed technical specifications, (b) a listing of all tasks and items to be delivered by the Company and the Client (each, a
“Deliverable”), (c) a delivery schedule containing a delivery date for each Deliverable, and (d) the
compensation and expenses payable to the Company by Client with respect to the development and engineering services to be rendered
by the Company under the Development Plan (the “Development and Engineering Services”). All compensation
and expenses payable with respect to the Development and Engineering Services shall be paid by client in the manner and at the
times set forth EXHIBIT B hereto.

 

2.2.2      The Company shall deliver
the Development Plan for the Client eStore to the Client not later than ten (10) business days after full execution and delivery
of this Agreement. The Client shall have two (2) business days to review the Development Plan. If the Client reasonably determines
that the Development Plan is unsatisfactory in any material respect, the Client shall prepare a detailed written description of
the objections and deliver such objections to the Company within two (2) business days of its receipt of the Development Plan.
The Company shall then have two (2) business days to modify the Development Plan to respond to the Client’s objections. The
Client shall have one (1) business day to review the modified Development Plan. If the Client deems the modified Development Plan
to be unacceptable, the foregoing procedure shall be repeated until the Client determines that the Development Plan is reasonably
acceptable in all material respects or the date which is thirty (30) calendar days after the date on which the Client received
the initial draft Development Plan from the Company, at which time the Client shall have the option of terminating this Agreement
upon written notice to the Company or permitting the Company to modify the Development Plan again under the procedure outlined
in this paragraph. If this Agreement is terminated, the obligations of both parties under it shall end except for the ongoing obligations
of confidentiality set forth in the applicable provision of this Agreement. Upon approval of the Development Plan by the Client,
it will be marked as EXHIBIT B and will be deemed by both parties to have become a part of this Agreement and will
be incorporated by reference. The Company shall then commence development of the Client eStore in conformity to the requirements
set forth in the Development Plan.

 

    	 

    	 

    

 

2.3          Sales.  All sales (or if
applicable, rentals or subscriptions) of Products through the Client eStore under this Agreement shall be made by Company to the
applicable Client eStore user. The Company will determine the price at which Products will be sold through the Client eStore and
the manner in which the Product will be offered (i.e. whether by sale, rental, or subscription). However, all sales of Client Products
sold through the Client eStore shall be made by the Client directly to Client eStore user. Client shall be solely responsible for
setting the Sales Price of Client Products sold directly to users through the Client eStore. Although Company will not be selling
any Client Products to the user, it will provide all functions needed to collect on behalf of Client all Gross Revenue and applicable
fees and taxes (where applicable) on sales of Client Products on the Client eStore to Client eStore users.

 

2.4          Promotional Efforts. In addition
to the other terms and conditions of this Agreement, Client agrees to promote the Client eStore in the manner set forth in EXHIBIT
C to this Agreement.

 

2.5          Cooperation with Company.
Client shall provide Company access to and permission to use all information, materials, internal resources, facilities and personnel
as necessary to complete the Services.

 

2.6          Client Website Content and Access.
The Client Website and any advertisements or promotions thereon (excluding the Client eStore) shall not contain any content or
materials that reasonably could be considered by Company to be: (a) obscene, profane, or sexually explicit; (b) related to gambling
(other than legal lotteries, legal sweepstakes, or legal contests); (c) defamatory, libelous or slanderous; (d) obscene, threatening,
harassing, hateful or racially, ethnically, religiously or otherwise offensive; (e) denigrating to particular group based on gender,
race, creed, religion, sexual preference or handicap; (f) infringing on any copyrights, patents, intellectual property, or any
laws relating to same; (g) permitting, either explicitly or implicitly, or by act or omission, the use of or access to Company’s
platform or system by more than one registered user or consumer per account, sign-in, or registration, in violation of any grant,
license or rights; or (h) unlawful or encouraging of conduct that would be a criminal or civil offense (collectively, “Prohibited
Content”). Company shall have the right to refuse to post on and/or remove from the Client eStore any Client Materials
containing any Prohibited Content or any content which Company reasonably determines conflict with, interfere with or are detrimental
to Company’s or its licensors’ interests, reputation or business or which may subject Company or its licensors to unfavorable
regulatory action, violate any law, infringe the rights of any person or subject Company or its licensors to liability for any
reason.

 

SECTION 3. GRANT OF LICENSES

 

3.1          Client Materials License.
Client hereby grants to Company a nontransferable, nonexclusive, worldwide, royalty-free right and license during the term of this
Agreement to use, reproduce, modify, distribute, perform and display the Client Materials solely for the purpose of providing the
Services. The Client Materials shall remain the exclusive property of Client. Client shall provide the Client Materials at such
times and in such format as reasonably requested by Company.

 

    	 

    	 

    

 

3.2          Company License.  Company
hereby grants to Client a nontransferable, nonexclusive right and license during the term of this Agreement (and subject to the
terms and conditions of this Agreement) to use and promote the Client eStore through the Client Website.

 

3.3          Terms and Conditions.  All
Client eStore users will be required to accept the standard Company eStore terms of use and privacy policy prior to registering
and using the Client eStore.

 

3.4          Reserved Rights.  All rights
not specifically granted to Client hereunder are reserved by Company. Company reserves the right to directly promote, develop,
host and operate the Company eStore and to offer similar products and services to other parties, including, without limitation,
other eStore partners that may be competitive with Client; provided that, such similar products and services will not incorporate
any Client Materials.

 

3.5          Subcontractors. Client understands
and agrees that Company may, in its sole discretion, subcontract its obligations under this Agreement to third parties.

 

3.6          Prohibitions. Except in accordance
with this Agreement, under no circumstances may Client, without the advance written consent of Company, (a) decompile, reverse
compile, disassemble or reverse engineer all or any portion of the Company eStore, Client eStore, or the Products; (b) undertake
any activity intended to bypass, modify, defeat or circumvent the operation of the Company eStore or any mechanisms operatively
linked to it; (c) grant any other person or entity the right or access to do either of (a) or (b); (d) digitally reproduce, modify,
edit, adapt, publish, translate, publicly display, distribute, transmit, sell, sublicense, create derivative works or compilations
incorporating, assign, transfer, display, distribute, rent, lease or unbundle any digital Products or digital content; (e) permit,
either explicitly or implicitly, or by act or omission, the use of or access to Company’s platform or system by more than
one registered user or consumer per account, sign-in, or registration, in violation of any grant, license or rights; (f) use any
interface, other than Client eStore (via the Company eStore pursuant to this Agreement), to offer, sell, or rent via the Client
Website any products or services that are the same or similar to the Products offered through the Company eStore; (g) distribute,
display, forward, permit, or permit others to facilitate, any unlicensed digital content, “torrenting,” or illegal
P2P file sharing of any kind; or (h) display the Products and Client eStore via other websites, any other delivery methods or in
any other medium.

 

SECTION 4. FEES AND PAYMENT

 

4.1          Fees Relating to Sales. Company
will pay to Client twenty percent (20%) of Net Revenue generated from sales (or if applicable, rental or subscription) of Products
(other than Client Products) via the Client eStore. Company will pay Client sixty percent (60%) of Gross Revenue generated from
the sales on behalf of the Client (or, if applicable, rental or subscription) from sales of Client Products, if any, through the
Client eStore.

 

4.2          Development Fees. Client
agrees to pay Company a development fee of One Million Dollars ($1,000,000) which must be paid in full on or before December 31,
2014.

 

4.3          Minimum Revenue Guarantee.
Within twelve (12) months of executing this Agreement, Client agrees to generate sufficient transactions through their eStore that
will generate minimally One Hundred Thousand Dollars ($100,000) of Net Revenue per month for the Company. If the Client fails to
generate sufficient transactions through their eStore resulting in less than One Hundred Thousand Dollars ($100,000) of Net Revenue
for any given month for the Company, the Client will pay the Company an amount equal to One Hundred Thousand Dollars ($100,000)
less the actual Net Revenue generated by the Client for the Company for the month.

 

    	 

    	 

    

 

4.4          Payment. Payments to Client
will be made within sixty (60) days after the end of each calendar month in which the actual revenue is collected by Company. Payment
to Company for the Minimum Revenue Guarantee will be made within fifteen (15) days after the end of each calendar month in which
the actual Minimum Revenue Guarantee is applicable. Payment to Company for the Development Fees will be paid in full on or before
December 31, 2014. All payments will be made in US dollars and will be subject to any required tax withholdings or other withholdings
required by law.

 

4.5          Reporting and Audit. Company
will provide with each payment a report setting forth the Gross Revenue and Net Revenue from the Client eStore for the applicable
payment period. All such reports shall be reasonably detailed, setting out the computation or calculation used to determine the
aggregate fee payable under Section 4.1 above. Client is entitled, on thirty (30) days prior written notice to Company and not
more than once per any twelve (12) month period, to attend (or appoint an independent accountant to attend) Company’s premises
and inspect such of Company’s records as may be reasonably necessary to verify the information contained in any report delivered
by Company to Client under this Agreement. Company must permit any such inspection at any time during the term of this Agreement
and for six (6) months thereafter. If an inspection under this section correctly reveals that the total amount payable to Client
is a sum greater than the amount specified in the relevant reports, then Company will pay to Client the difference within ten (10)
days of demand in writing by Client, which demand will be accompanied by a copy of the inspection report. If the amount payable
to Client under this section exceeds the amount specified in any report or reports by 10% or more, then Company will also pay the
reasonable and necessary out-of-pocket costs and expenses actually incurred by Client for that inspection.

 

4.6          Method of Payment. Prior
to receiving any payments under this Section 4, Client will provide payment and tax information including, if necessary, a valid
tax I.D. number. Company may withhold any payments due and payable to Client in escrow until all necessary tax information is received
from Client. Company will (i) issue and deliver to Client a check for the fees earned, (ii) directly deposit the fees earned into
Client’s bank account or (iii) send Client a wire transfer. If Client selects payment by check or direct deposit, Company
may accrue and withhold fees payable hereunder until the total amount due is at least $100.00, and payments by wire transfer may
be withheld until the total amount due is at least $5,000.00. Accrued but unpaid license fees will be held by Company as provided
herein without interest.

 

4.7          State Tax Obligations. Client
will be solely responsible and liable for the reporting and remitting of any state tax due with respect to the sale of Client Products
via the Client eStore. Nothing in this contract shall be construed to create any type of agency relationship between Client and
Company. Client will responsible for notifying Company on a monthly basis those states and other tax jurisdictions in which Client
has an obligation to collect and remit sales, use and/or other similar transaction taxes on sales of Client Products through the
Client eStore. Failure to supply such information on an accurate and timely basis will result in a full indemnification of Company
by Client as outlined in Section 4.7 below.

 

4.8          Tax Indemnification. Client
will solely be liable for, and will indemnify and hold Company harmless against all sales, use and/or similar transaction tax liability
(including interest, penalties, and costs and expenses including attorney fees) (“Sales Tax”), if any
assessed upon Client’s sale of Client Products on the Client eStore. If any taxing authority assesses or claims any Sales
Tax on or against Company: (a) Company will control the defense against such assessment or claim (without limiting Client’s
obligation to indemnify and hold Company harmless pursuant to this Section); and (b) to the extent Company seeks indemnity by Client
under this Section, Company will not settle, or consent to any judgment with respect to, such assessment or claim without Client’s
prior written consent, which consent will not be unreasonably withheld.

 

4.9          Tax Audits. Both parties
agree to use commercially reasonable efforts to cooperate and provide assistance to each other with respect to any potential state
and local sale and use tax audit in connection with the activities under this Agreement. Furthermore, the parties agree that only
information readily available using the parties existing information systems will be provided under this Section and neither party
will be responsible for modifying or creating new systems to obtain any required or requested sales and/or use tax information
relating to any state or local sales and/or use tax audit. Each party agrees that any costs incurred in connection with such cooperation
and assistance will be borne solely by the party incurring such costs.

 

    	 

    	 

    

 

4.10        Tax Software and Services.
Company uses certain software for the calculation of state sales taxes. Client is required, and Client does hereby agree and consent,
to pay in addition to any other fees or costs, the entire licensing cost for use of any sales tax software calculator, or monthly
charges for use of same. Charges for same will be disclosed to Client on any invoice as may be generated and forwarded by the Company
to Client in the general course of business conduct. Also, if requested by Company, Client will promptly execute any and all documents
or licenses as may be requested by Company’s approved sales tax calculation provider. Company reserves the right to employ,
retain, or use any provider of tax calculation services as it deems fit in its sole discretion, and Client agrees that it shall
not be a modification of this Agreement that Company employs or uses a different sales tax provider than as current. All monthly
charges shall by agreement be borne by Company.

 

4.11        Content Availability; Premium
Content; Charges and Fees for Same. Certain content may not be available in certain territories or countries. Some content
may require special or particular approvals or licenses prior to being made available. Company will make reasonable efforts to
ensure the utmost in content availability based on its existing relationships and contractual partners. Company makes no warranties
or representations that any and all content is available in all countries or territories of the world. If Client shall request
Premium Content, as defined herein, certain charges may be incurred by Company pursuant to that request. If Client desires any
specific Premium Content, Client shall contact its account or project manager, and shall initiate a ticket or Statement of Work
(SOW) or Change Order, such as the case might be, memorializing in writing, with a requisite and agreed-upon level of specificity,
the Premium Content requested by Client. Company will make reasonable efforts to obtain any such requested Premium Content, but
makes no warranties or assertions that any or all Premium Content as may be requested can be obtained by Company. However, where
Company is able to obtain Premium Content at the request of Client after Client’s written consent (via additional Schedules
or Addenda) to do so, Client shall pay any and all charges and fees from third parties for such Premium Content, including any
professional fees that Company incurs in the acquisition of said content, or in the modification or alteration of Client’s
eStore, which professional fees shall be disclosed and agreed to in writing between Client and Company’s account or project
manager. Company will provide to Client an estimate of proposed charges and fees for any Premium Content acquisition prior to entering
into any agreement with third parties. Client hereby expressly assents to these charges and fees, pursuant to Client’s request,
and the obligation to pay for them. Premium content charges equal the actual billed rate plus any applied taxes and services. Company
will forward to Client copies of actual invoices for charges for acquisition of Premium Content once received from content providers.
Charges and fees for same shall become due and payable upon receipt by Client of notice of charges and fees. If monthly fees or
subscription rates are charged by a content provider, such shall be added to Client’s monthly minimum transactional revenues
as due to Company per this Agreement.

 

SECTION 5. TERM & TERMINATION

 

5.1          Term. This Agreement will
take effect starting on the Effective Date and will continue thereafter for an initial term of one hundred and twenty months (120)
months from the Effective Date. The Agreement will then automatically renew for additional terms of twelve (12) months, unless
either party notifies the other party in writing of its intent not to renew not less than sixty (60), nor more than ninety (90)
days prior to the end of the initial term or any renewal term.

 

    	 

    	 

    

 

5.2          Termination with Cause. 
Either party may terminate this Agreement (a) if the other party has materially breached a term, obligation or condition of this
Agreement and has failed to cure the breach within thirty (30) days of written notice specifying the material breach by the other
party, provided, however, that, if such a material breach of this Agreement occurs that by its nature cannot be cured with such
thirty (30) day cure period, but the breaching party submits a commercially reasonable written plan to the non-breaching party
within such thirty (30) day cure period to cure the breach after the thirty (30) day cure period (but in any event not more than
ninety (90) days after receipt of the notice of breach) and the plan (including the timing of the cure set forth in the plan) is
reasonably acceptable to the non-breaching party, the cure period for the breach shall be extended to the date set forth in the
plan; or (b) effective immediately upon written notice if: (i) all or a substantial portion of the assets of the other party are
transferred to an assignee for the benefit of creditors to a receiver or to a trustee in bankruptcy; (ii) a proceeding is commenced
by or against the other party for relief under the bankruptcy or similar laws, and such proceeding is not dismissed within sixty
(60) days; or (iii) the other party is adjudged bankrupt or admits in writing its inability to pay its debts as they become due.

 

5.3          Break Up
Fee for Termination by Client.  If Client terminates this Agreement for any reason, with or without cause, the Client must
immediately pay the Company a Break Up Fee of Ten Million Dollars ($10,000,000).

 

5.4          Consequences upon Termination.
 Upon termination or expiration of this Agreement for any reason, (a) the parties shall cease all advertising and marketing
of the Client eStore; (b) Company shall cease operation of the Client eStore; (c) Client shall immediately cease use of Company’s
Intellectual Property Rights, (d) Client shall immediately return to Company, all property, equipment and materials provided to
Client by Company, and (e) Company shall immediately return to Client Materials provided to Company (although Company shall be
permitted to keep one copy of such Client Materials solely for record-keeping purposes).

 

SECTION 6. WARRANTIES; LIMITATION
OF LIABILITY

 

6.1          System Uptime. Company will
use commercially reasonable efforts to make the Client eStore generally accessible to users via the Internet twenty-four hours
a day, seven days a week less: (a) scheduled network, hardware or service maintenance, (b) a failure of the Internet and/or the
public switched telephone network, or (c) the occurrence of any event that is beyond Company’s reasonable control (collectively,
the “Excusable Downtime”). Company will use all commercially reasonable efforts to make the Client eStore
available at least 95% of the time during each month, excluding Excusable Downtime (“Uptime Commitment”).
Company shall maintain commercially reasonable and industry standard safeguards for data integrity of transmissions as received
by or otherwise transmitted to Company from users or to or from the Client eStore; provided, however, that Company shall not be
responsible or have liability for data integrity beyond the original condition as received by or otherwise transmitted to Company.
Company shall take commercially reasonable actions to protect against threats that deny service and thus reduce availability
of the Client eStore or control by providing mechanisms to protect the transmission facilities, switching components, network management
systems and other essential service provider facilities from unauthorized denial-of-service attacks, insider attacks, unauthorized
or unexpected user actions, unauthorized intrusions, and other perceived threats. One or more separate Service Level Agreements
(SLAs) shall be forwarded to Client from Company that deal in substantial conformity with the issues contained in this Section,
depending on which Company services Client utilizes in its chosen Company package.

 

6.2          Company Warranties. Company
represents and warrants that: (a) it has the full corporate right, power and authority to enter into this Agreement and to perform
the acts required of it hereunder; (b) its activities under this Agreement will not violate any applicable United States federal,
state or local law or regulation; (c) it shall provide the Services in a commercially reasonable manner, consistent with industry
standards, including security standards; and (d) to the best of Company’s knowledge, the Services and Company eStore provided
hereunder do not infringe any United States Intellectual Property Rights of any third party.

 

6.3          Client Representations and Warranties.
Client hereby represents and warrants to Company that: (a) Client is authorized to enter into this Agreement; and (b) Client (i)
has the full power and authority to enter into this Agreement, (ii) Client has all necessary title, rights, and interest in and
to the Client Website and the Client Materials to license the same to Company in accordance with the terms and conditions of this
Agreement; (iii) the Client Website, the Client Materials and Company’s use thereof shall not violate any applicable law
or infringe upon or violate the rights of any person; and (iv) the Client Website and the Client Materials do not contain any Prohibited
Content or any computer virus or other contaminating or destructive feature of any kind. In the event Company becomes aware of
a breach or potential breach of the representations and warranties specified herein, in addition to any other rights and remedies
available to Company, Company may immediately discontinue its use of the Client Materials or the operation of the Client eStore
without any liability to Company.  In addition, Client will comply with all applicable federal, state and local laws
and regulations in its operation of the Client Website and in the performance of its obligations hereunder.

 

    	 

    	 

    

 

6.4          Disclaimer. WITH THE EXCEPTION
OF THE LIMITED WARRANTIES SET FORTH IN SECTIONS 6.1 AND 6.2, THE SERVICES AND THE CLIENT ESTORE ARE PROVIDED “AS IS”
WITHOUT WARRANTY OF ANY KIND, AND COMPANY HEREBY DISCLAIMS ANY OTHER WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT
LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY WARRANTY, GUARANTEE, OR ANY REPRESENTATIONS
REGARDING THE AVAILABILITY, USE OR THE RESULTS OF THE USE OF THE CLIENT ESTORE OR ANY CONTENT PROVIDED THEREON. COMPANY MAKES NO
WARRANTY REGARDING THE LEVEL OF EXPOSURE OF OR REVENUE THAT MAY BE GENERATED THROUGH THE CLIENT ESTORE.

 

6.5          Limitation of Liability.
UNDER NO CIRCUMSTANCES SHALL COMPANY BE LIABLE TO CLIENT OR ANY CLIENT STORE USERS FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL,
SPECIAL OR PUNITIVE DAMAGES FOR ANY MATTER ARISING FROM OR RELATING TO THIS AGREEMENT, THE SERVICES, THE CLIENT STORE, THE CONTENT
OR THE INTERNET GENERALLY, INCLUDING, WITHOUT LIMITATION, A USER’S USE OR INABILITY TO ACCESS AND USE THE CLIENT STORE OR
ANY CONTENT, ANY CHANGES TO OR INACCESSIBILITY OF THE CLIENT STORE OR ANY CONTENT, DELAY, FAILURE, UNAUTHORIZED ACCESS TO OR ALTERATION
OF ANY TRANSMISSION OR DATA, ANY MATERIAL OR DATA SENT OR RECEIVED OR NOT SENT OR RECEIVED, WHETHER SUCH LIABILITY IS ASSERTED
ON THE BASIS OF CONTRACT, TORT OR OTHERWISE AND EVEN IF COMPANY WAS INFORMED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL
COMPANY’S TOTAL LIABILITY FOR DIRECT DAMAGES EXCEED AN AMOUNT EQUAL TO THE TOTAL FEES GENERATED IN ACCORDANCE WITH SECTIONS
4.1 AND 4.2 ABOVE DURING THE PREVIOUS TWELVE (12) MONTHS.

 

6.6          Indemnification by Company.
Company shall indemnify, defend and hold Client, and its officers, members, directors, employees, agents and affiliates (each,
a “Client Indemnified Party”) harmless from and against any and all costs, liabilities, losses and expenses,
including, but not limited to, reasonable attorneys’ fees resulting from or arising out of any claim, suit, action, arbitration
or proceeding brought by a third party against any Client Indemnified Party relating to (a) a breach or alleged breach by Company
of any of its representations or warranties hereunder, or (b) infringement or misappropriation of any United States Intellectual
Property Rights by Company.

 

6.7          Indemnification by Client. 
Client shall indemnify, defend and hold Company, and its officers, shareholders, members, directors, employees, agents and affiliates
(each, a “Company Indemnified Party”) harmless from and against any and all costs, liabilities, losses
and expenses, including, but not limited to, reasonable attorneys’ fees resulting from or arising out of any claim, suit,
action, arbitration or proceeding brought by a third party against any Company Indemnified Party relating to: (a) a breach or alleged
breach by Client of any of its representations, warranties, covenants or obligations hereunder, (b) infringement or misappropriation
of any Intellectual Property Rights by Client, or (c) any Prohibited Content contained in the Client Website or any Client Materials.

 

    	 

    	 

    

 

SECTION 7. RELATIONSHIP OF THE PARTIES

 

7.1          Relationship of the Parties.
 The relationship of Company and Client established by this Agreement shall be solely that of independent contractors, and
nothing herein (including the use of the term “partner” in this Agreement or any other between Client and Company)
shall create or imply any common law, legal, or contractual partnership, joint venture or other relationship. Nothing in this Agreement
shall be construed to give either party the power to direct or control the daily activities of the other party. Nothing in this
Agreement shall grant either party or any of its representatives the power or authority to make or give any agreement, statement,
representation, warranty or other commitment on behalf of the other party, or to enter into any contract or otherwise incur any
liability or obligation, express or implied, on behalf of the other party, or to transfer, release, or waive any right, title,
or interest of the other party.

 

7.2          Changes to the Client eStore.
Company reserves the right at any time without liability or prior notice to add, change or terminate any of the design, specifications,
features, Products, or functions of or provided on the Client eStore (with the exception of Client Materials except as otherwise
provided pursuant to this Agreement). Client recognizes and accepts that certain changes or customization requests to the Client
eStore may result in reasonable extension of deadlines to complete work on the Client eStore, or any component or module thereof,
and if substantial (in the sole discretion of Company) may incur additional charges for professional services. Company agrees that
such additional work and charges, if any, shall be disclosed to Client prior to work on same being commenced. If so, a Professional
Services Agreement (PSA), describing and limiting these costs and charges, shall be presented by Company to Client.

 

7.3          Expenditures.  Client acknowledges
and agrees that any expenses it incurs in furtherance of this Agreement are voluntary in nature and are made with the knowledge
that this Agreement may expire or be terminated as provided herein. Client shall make no claim against Company, and Company shall
not be liable with respect to the recoupment of any expenditures or investment made by Client.

 

SECTION 8. INTELLECTUAL PROPERTY
RIGHTS

 

8.1          Intellectual Property Rights.
As between the parties, Company shall have and retain sole ownership of all its Intellectual Property Rights in the Company eStore
(except the Client Materials) and any current and future enhancements, revisions, new releases, updates, improvements, and documentation,
including any derivative works and goodwill thereof or therein, and no right, title or interest in any of the foregoing is granted
to Client except as expressly provided herein. Client shall promptly notify Company of any determination, discovery or notification
that any person or entity is or may be infringing the Intellectual Property Rights of Company or its licensors.

 

8.2          Confidential Information.
During the course of performance of this Agreement, each party may disclose certain Confidential Information to the other party.
The receiving party shall maintain the secrecy of all such Confidential Information and shall not use, disclose or otherwise exploit
any Confidential Information for any purpose not specifically authorized by the disclosing party in this Agreement. All files,
lists, records, documents, drawings, specifications, equipment and computer programs that incorporate or refer to any Confidential
Information shall be returned, deleted or destroyed by the receiving party promptly upon termination or expiration of this Agreement.

 

8.3          Exclusivity. The parties
agree that Client may acquire Confidential Information about the Company, including, without limitation, information regarding
the Company’s finances, prices, expenses, business negotiations, business techniques, business models, service providers,
and subcontractors, partners and affiliates, as they may now exist or as they may be developed in the future. In recognition of
the foregoing, Client and its subsidiaries and affiliates shall not during the term of this Agreement or for one (1) year after
the termination or expiration of this Agreement, engage any other party to provide services similar to Services provided by the
Company in developing, hosting and operating the Client eStore, or develop, host or operate a website similar to the Company eStore
or any part thereof, on its own behalf or on behalf of any other party, without the prior written consent of the Company.

 

    	 

    	 

    

 

8.3          Remedies. Client agrees that
a breach of Sections 8.1, 8.2 or 8.3 will cause irreparable injury and damage. The parties expressly agree that any party damaged
by a breach of these sections 8.1, 8.2 or 8.3 shall be entitled to injunctive and other equitable relief to prevent such a breach,
in addition to any other remedy to which Company might be entitled. The parties waive the posting of any bond or surety prior to
the issuance of an injunction hereunder. All remedies for such a breach shall be cumulative.

 

SECTION 9. GENERAL PROVISIONS

 

9.1          Entire Agreement; Amendment.
 This Agreement, including any exhibits and schedules hereto, constitutes the entire agreement of the parties with respect
to the subject matter hereof and supersedes all prior agreements, both oral and written, with respect to the subject matter hereof.
No amendment or modification of this Agreement or any provision or attachment of this Agreement shall be effective unless in writing
and signed by both parties.

 

9.2          Severability.  If any term
or provision of this Agreement shall be held to be invalid, illegal or unenforceable, the remaining terms and provisions of this
Agreement shall remain in full force and effect, and such invalid, illegal or unenforceable term or provision shall be deemed not
to be part of this Agreement.

 

9.3          Governing Law; Venue. This
Agreement shall be governed by and construed, interpreted, and enforced in accordance with the laws of the State of Missouri, U.S.A.,
without reference to its conflicts or choice of law principles. The United Nations Convention on Contracts for the International
Sale of Goods and the Uniform Computer Information Transactions Act shall not apply to this Agreement.

 

9.3.1      Non-United States
Citizens or Residents.  If Client is not a citizen or resident of the United States, all disputes, actions, claims or proceedings
between the parties relating to the validity, construction or performance of, or otherwise concerning the this Agreement (except
for claims by Company for injunctive or other equitable relief) shall be settled by arbitration in accordance with UNCITRAL Arbitration
Rules as at present in force. The appointing authority shall be the International Chamber of Commerce ("ICC")
acting in accordance with the rules adopted by the ICC for this purpose, and the place of arbitration shall be St. Louis, Missouri,
U.S.A. There shall be only one arbitrator. The award shall be in law and not in equity and shall be final and binding on both parties.
In such an event, the parties hereto irrevocably agree to submit all matters and disputes arising in connection with this Agreement
to arbitration in the St. Louis, Missouri, U.S.A. metropolitan area. The language of arbitration shall be English. The decision
of the arbitrator shall be final, binding and incontestable and may be used as a basis for judgment thereon in any country or region.

 

9.3.2      United States Citizens
or Residents; Injunctive Relief.  If Client is a citizen or resident of the United States (or if Company seeks injunctive or
other equitable relief), all disputes, actions, claims or proceedings between the parties relating to the validity, construction
or performance of, or otherwise concerning this Agreement shall be brought exclusively in the federal or state courts located in
or serving the City of St. Louis, Missouri, U.S.A. The parties irrevocably submit and consent to the exercise of subject matter
jurisdiction and personal jurisdiction over each of the parties by the federal and/or state courts located in or serving City of
St. Louis, Missouri, U.S.A. The parties hereby irrevocably waive any and all objections which any party may now or hereafter have
to the exercise of personal and subject matter jurisdiction by the federal or state courts located in or serving City of St. Louis,
Missouri, U.S.A and to the laying of venue of any such suit, action or proceeding brought in any such federal or state court located
in or serving City of St. Louis, Missouri, U.S.A.

 

9.3.3      Savings Clause.
In the event the foregoing arbitration provision does not apply, is found inapplicable or otherwise not given full force and effect,
the parties agree that the sole and exclusive jurisdiction and venue for any and all unresolved disputes related to this Agreement
shall be in any trial or appellate court located in or serving City of St. Louis, Missouri, U.S.A.

 

    	 

    	 

    

 

9.4          Costs of Litigation and Arbitration.
If any action is brought by either party to this Agreement against the other party for the subject matter hereof, the prevailing
party shall be entitled to recover, in addition to any other relief granted, reasonable attorneys’ fees and costs and expenses
of investigation, litigation and arbitration including, without limitation, costs of collection of Fees due under this Agreement.

 

9.5          Notices. Notices may be delivered
by electronic means (with satisfactory evidence of transmission) to the email addresses set forth below the parties’ signatures
hereto, and notices so delivered shall be effective upon actual receipt of the electronic transmission.

 

9.6          Survival.  In addition to
any other provisions of this Agreement that expressly provide that they survive the termination or expiration of this Agreement,
the provisions of Sections 1, 2.1, 3.4, 3.6, 4, 5.3,5.4, 6, 8 and 9 shall survive the termination or expiration of this Agreement.

 

9.7          Waiver.  Except as specifically
provided in a written waiver signed by a duly authorized representative of the party seeking enforcement, the failure to enforce
or the waiver of any term of this Agreement shall not constitute the waiver of such term at any time or in any circumstances and
shall not give rise to any restriction on or condition to the prompt, full and strict enforcement of the terms of this Agreement.

 

9.8          Assignment and Benefit. Neither
party may assign this Agreement without the prior written consent of the other party; provided, however, Company may assign this
Agreement without the consent of Client (i) in connection with a merger, consolidation, sale or other disposition of the business
operations relating to the Services (ii) to any affiliate or subsidiary of Company. Client may not delegate its duties hereunder
without the prior written consent of Company. Any attempt by Client to assign any of its rights or delegate any of its duties shall
be null and void. This Agreement shall be binding upon and shall inure to the benefit of Client and Company and their successors
and permitted assigns, subject to the other provisions of this Section. The parties agree that all subsidiaries and affiliates
of Company are the intended third-party beneficiaries of the rights and entitlements of Company under this Agreement and may enforce
the provisions of this Agreement on behalf of themselves or Company, and all obligations of Client under this Agreement (including
without limitation under Sections 8.1 and 8.2 hereof) are also made in favor of Company’s subsidiaries and affiliates.

 

9.9          Force Majeure.  Each party
to this Agreement shall be excused from any delay or failure in its performance hereunder caused by any disruption or slow speed
of the Internet, break-downs of security or introduction of computer viruses (and the like) by third parties, any labor dispute,
government requirement, acts of God, earthquakes, changes in law, regulation or government policy, riots, war, fire, epidemics,
swarms of locusts, floods, hail, invasion by Huns, hurricanes, jungle rot, the “croup”, sausage fingers, hammer toe,
acts or omissions of vendors or suppliers, equipment failures, transportation difficulties, or any other cause beyond its reasonable
control. Such party shall use its best efforts to cure any such failure or delay in performance arising from a force majeure condition,
and shall timely advise the other party of such efforts. If such delay continues for more than ten (10) days, the party injured
by the inability of the other to perform may, upon ten (10) days prior written notice, terminate this Agreement.

 

9.10        Third Parties.  Nothing
in this Agreement, express or implied, shall create or confer upon any person or entity not a named party to this Agreement any
legal or equitable rights, remedies, obligations, liabilities or claims with respect to this Agreement, except as expressly provided
herein.

 

9.11        Headings; Controlling Language.
The captions and headings of this Agreement are included for ease of reference only and will be disregarded in interpreting and
construing this Agreement. The controlling language of this Agreement is English. Any translations of this Agreement that may have
been provided by Company have been provided for convenience only and shall have no binding effect.

 

    	 

    	 

    

 

9.12        Execution; Counterparts.
This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute
the same agreement. The parties agree that this Agreement may be executed by each party signing one original and providing a facsimile
(fax) or scanned copy of the signature page to the other party, provided that each party agrees to make its document with the original
signature available to the other party upon request, and further provided that the parties agree that the fax signature shall be
treated as if it were an original signature, and neither party shall contest the validity of this Agreement based on the use of
fax or scanned signatures.

 

IN WITNESS WHEREOF
the parties have caused this Agreement to be duly executed as of the day and year first written above.

 

	CLIENT:	 	COMPANY
	STATIONDIGITAL CORPORATION	 	CLOUDWEBSTORE, INC.
	 	 	 
	BY:	 	 	BY:	 
	PRINTED NAME:  Timothy M. Roberts	 	PRINTED NAME:  Timothy M. Roberts
	TITLE:  Chairman and CEO	 	TITLE:  Chairman and CEO

 

    	 

    	 

    

 

EXHIBIT A

 

CLIENT PROMOTIONAL COMMITMENTS

 

Client will need to define Marketing and
Merchandising plans to drive traffic and transaction volumes to the site. The Company does offer Marketing and Merchandising services
on a package or professional services hourly rate. A consultative session with the Client will need to be scheduled to determine
what additional services the Company could provide to the Client.

 

Advertising:        The Company
can provide recommendations for advertising placements as part of a Marketing and Merchandising plan.

 

Newsletter Promotions:    As part
of the Marketing and Merchandising plans, the Company can provide recommendations and assist in developing online newsletter promotions
to drive traffic and sales to the site.

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