Document:

Exhibit 10.7

Cap/Floor Collar
Transaction

The purpose of this letter agreement is to confirm the
terms and conditions of the Transaction entered into between:

JPMORGAN CHASE BANK, N.A.

(“JPMorgan”)

and

THE CHEESECAKE FACTORY

(the “Counterparty”)

on the Trade Date and identified by the JPMorgan Deal
Number specified below (the “Transaction”). This letter agreement constitutes a
“Confirmation” as referred to in the Master Agreement specified below, and
supersedes any previous confirmation or other writing with respect to the
transaction described below.

The definitions and provisions contained in the 2000
ISDA Definitions (the “Definitions”), as published by the International Swaps
and Derivatives Association, Inc. are incorporated into this Confirmation. In
the event of any inconsistency between those definitions and provisions and
this Confirmation, this Confirmation will govern.

This Confirmation supplements, forms part of, and is
subject to, the ISDA Master Agreement dated as of 28 March 2007, as amended and
supplemented from time to time (the “Agreement”), between JPMORGAN CHASE BANK,
N.A. (“JPMorgan”) and THE CHEESECAKE 
FACTORY (the “Counterparty”). All provisions contained in the Agreement
govern this Confirmation except as expressly modified below.

 1
 

The terms of the
particular Cap/Floor Collar Transaction to which this Confirmation relates are
as follows:

	
  A. TRANSACTION DETAILS

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  JPMorgan Deal
  Number(s):

  	
   

  	
  2000005090186, 2000005090187

  
	
   

  	
   

  	
   

  
	
  Notional Amount:

  	
   

  	
  USD 100,000,000.00

  
	
   

  	
   

  	
   

  
	
  Trade Date:

  	
   

  	
  03 April 2007

  
	
   

  	
   

  	
   

  
	
  Effective Date:

  	
   

  	
  03 April 2007

  
	
   

  	
   

  	
   

  
	
  Termination
  Date:

  	
   

  	
  03 April 2012 subject to adjustment in accordance
  with the Modified Following Business Day Convention.

  
	
   

  	
   

  	
   

  
	
  Cap
  Transaction:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating
  Amounts:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Payer:

  	
   

  	
  JPMorgan

  
	
   

  	
   

  	
   

  
	
  Cap Rate:

  	
   

  	
  5.35000 percent

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Payer Payment Dates:

  	
   

  	
  The 03 July, 03 October, 03 January and 03 April in
  each year, from and including 03 July 2007 to and including the Termination
  Date, subject to adjustment in accordance with the Modified Following
  Business Day Convention and there will be an adjustment to the Calculation
  Period.

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Option:

  	
   

  	
  USD-LIBOR-BBA

  
	
   

  	
   

  	
   

  
	
  Designated
  Maturity:

  	
   

  	
  3 Month

  
	
   

  	
   

  	
   

  
	
  Spread:

  	
   

  	
  None

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Day Count Fraction:

  	
   

  	
  Actual/360

  
	
   

  	
   

  	
   

  
	
  Reset Dates:

  	
   

  	
  The first day of each Calculation Period.

  
	
   

  	
   

  	
   

  
	
  Compounding:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Business Days:

  	
   

  	
  New York, London

  

 

 2
 

 

	
  Floor Transaction:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating
  Amounts:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Payer:

  	
   

  	
  Counterparty

  
	
   

  	
   

  	
   

  
	
  Floor Rate:

  	
   

  	
  4.69000 percent

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Payer Payment Dates:

  	
   

  	
  The 03 July, 03 October, 03 January and 03 April in
  each year, from and including 03 July 2007 to and including the Termination
  Date, subject to adjustment in accordance with the Modified Following
  Business Day Convention and there will be an adjustment to the Calculation
  Period.

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Option:

  	
   

  	
  USD-LIBOR-BBA

  
	
   

  	
   

  	
   

  
	
  Designated
  Maturity:

  	
   

  	
  3 Month

  
	
   

  	
   

  	
   

  
	
  Spread:

  	
   

  	
  None

  
	
   

  	
   

  	
   

  
	
  Floating Rate
  Day Count Fraction:

  	
   

  	
  Actual/360

  
	
   

  	
   

  	
   

  
	
  Reset Dates:

  	
   

  	
  The first day of each Calculation Period.

  
	
   

  	
   

  	
   

  
	
  Compounding:

  	
   

  	
  Inapplicable

  
	
   

  	
   

  	
   

  
	
  Business Days:

  	
   

  	
  New York, London

  
	
   

  	
   

  	
   

  
	
  Calculation
  Agent:

  	
   

  	
  JPMorgan, unless otherwise stated in the Agreement.

  
	
   

  	
   

  	
   

  
	
  B.
  ACCOUNT DETAILS

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Payments to
  JPMorgan in USD:

  	
   

  	
  JPMORGAN CHASE BANK NA 

  JPMORGAN CHASE BANK NA 

  BIC: CHASUS33XXX 

  AC No: 099997979

  
	
   

  	
   

  	
   

  
	
  Payments to
  Counterparty in USD:

  	
   

  	
  As per your standard settlement instructions.

  
	
   

  	
   

  	
   

  
	
  C.
  OFFICES

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  JPMorgan:

  	
   

  	
  NEW YORK

  
	
   

  	
   

  	
   

  
	
  Counterparty:

  	
   

  	
  CALABASAS HILLS

  

 

D.
DOCUMENTS TO BE DELIVERED

Each party shall deliver to the other, at the time of its execution of
this Confirmation, evidence of the incumbency and specimen signature of the
person(s) executing this Confirmation, unless such evidence has been previously
supplied and remains true and in effect.

 3
 

E. RELATIONSHIP BETWEEN PARTIES

Each party will be deemed to represent to the other
party on the date on which it enters into a Transaction that (absent a written
agreement between the parties that expressly imposes affirmative obligations to
the contrary for that Transaction):

(a) Non-Reliance. It
is acting for its own account, and it has made its own independent decisions to
enter into that Transaction and as to whether that Transaction is appropriate
or proper for it based upon its own judgment and upon advice from such advisers
as it has deemed necessary. It is not relying on any communication (written or
oral) of the other party as investment advice or as a recommendation to enter
into that Transaction; it being understood that information and explanations
related to the terms and conditions of a Transaction shall not be considered
investment advice or a recommendation to enter into that Transaction. No
communication (written or oral) received from the other party shall be deemed
to be an assurance or guarantee as to the expected results of that Transaction.

(b) Assessment and
Understanding. It is capable of assessing the merits of and
understanding on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of that
Transaction. It is capable of assuming, and assumes the risks of that
Transaction.

(c) Status of
Parties. The other party is not acting as a fiduciary for or an
adviser to it in respect of that Transaction.

Please confirm that the foregoing correctly sets forth
the terms of our agreement by executing a copy of this Confirmation and
returning it to us or by sending to us a letter, telex or facsimile
substantially similar to this letter, which letter, telex or facsimile sets
forth the material terms of the Transaction to which this Confirmation relates
and indicates agreement to those terms. When referring to this Confirmation,
please indicate: JPMorgan Deal Number(s): 2000005090186, 2000005090187

JPMorgan Chase Bank, N.A.

	
   

  	
   

  	
   

  	
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  	
   

  

 

	
  Accepted and confirmed as of the date

  first written:

  THE CHEESECAKE FACTORY

  	
   

  	
   

  	
   

  
	
  

  	
   

  	
   

  	
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Your reference number: 

  	
   

  	
   

  	
   

  	
   

  
						

 

 4
 

Client
Service Group

All queries regarding confirmations should be sent to:

JPMorgan Chase Bank, N.A.

	
  Contacts

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  JPMorgan Contact

  	
   

  	
  Telephone Number

  
	
   

  	
   

  	
   

  
	
  Client Service Group

  	
   

  	
  (001 ) 3026344960

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Group E-mail address:

  	
   

  	
   

  
	
  Facsimile:

  	
   

  	
  (001) 888 803 3606

  
	
  Telex:

  	
   

  	
   

  
	
  Cable:

  	
   

  	
   

  

 

Please quote the JPMorgan deal number(s):
2000005090186, 2000005090187.

 5Exhibit
10.1

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES
ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR (B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT
REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO
RULE 144 OR RULE 144A UNDER SAID ACT.

	
  Principal Amount $

  	
  Issue Date: April 27,
  2007

  

 

CONVERTIBLE
PROMISSORY NOTE

FOR VALUE RECEIVED, IVOW, INC., a Delaware
corporation (the “Borrower”),
hereby promises to pay to the order of                              (the
“Holder”) the sum of                       
($                )
(“Principal Amount”), with interest
thereon, on April 27, 2009 (the “Maturity Date”),
if not sooner paid, unless this Convertible Promissory Note (“Note”) is converted
pursuant to Article 3 below.

ARTICLE 1

INTEREST

1.1           Rate
of Interest.  The principal balance
shall bear interest at the rate of ten percent (10%) per annum simple interest.

1.2           Maximum
Payments.  Nothing contained in this
Note shall be deemed to establish or require the payment of a rate of interest
or other charges in excess of the maximum permitted by applicable law.  In the event that the rate of interest required
to be paid or other charges hereunder exceed the maximum permitted by such law,
any payments in excess of such maximum shall be credited against amounts owed
by the Borrower to the Holder and thus refunded to the Borrower.

ARTICLE 2

PAYMENT

2.1           Payment.  Subject to Article 3, the entire principal
balance and all accrued interest shall be paid in full without setoff,
deduction or counterclaim on the Maturity Date.

2.2           Prepayment.  The Borrower shall have the right to prepay
all or any part of the outstanding balance of this Note after fifteen (15) days
prior written notice without charge or premium.

   
 

2.3           Application
of Payments.  All payments received,
irrespective of how they may be designated by the Borrower, shall be applied
first to charges other than interest and principal, if any, owing hereunder,
then to accrued interest, then to principal.

ARTICLE 3

CONVERSION
RIGHTS

3.1           Holder’s
Voluntary Conversion Rights.  The
Holder shall have the option, but not the obligation, to convert any portion of
the outstanding principal of this Note and the accrued interest thereon into
shares of the Borrower’s common stock at a conversion price equal to $0.075 per
share. Holder shall not have the option to convert prior to April 27,
2008.  Not excluding the foregoing,
Holder can convert anytime within fifteen (15) days of receiving a notice of
prepayment from Borrower in accordance with Section 2.2.

3.2           Mechanics
of Holder’s Conversion.  In the event
that the Holder elects to convert any amounts outstanding under this Note pursuant
to Section 3.1, the Holder shall give notice of such election by delivering an
executed and completed notice of conversion (a “Notice of Conversion”) to the Borrower, which shall provide a
breakdown in reasonable detail of the principal, accrued interest and amounts
being converted, and this original Note. 
Pursuant to the terms of a Notice of Conversion, the Borrower will issue
certificates representing the shares that have been converted to the Holder.  Upon any partial conversion of this Note, a
replacement Note containing the same date and provisions of this Note shall be
issued by the Borrower to the Holder for the outstanding principal and accrued
interest which shall not have been converted or paid.

3.3           Reservation.  During the period that this Note is
outstanding, the Borrower will reserve from its authorized and unissued Common
Stock the number of shares to provide for the issuance of Common Stock upon the
full conversion of this Note.  Borrower
represents that upon issuance, such shares will be duly and validly issued,
fully paid and non-assessable.  Borrower
agrees that its issuance of this Note shall constitute full authority to its
officers, agents, and transfer agents who are charged with the duty of
executing and issuing stock certificates to execute and issue the necessary
certificates for shares upon the conversion of this Note.

ARTICLE 4

EVENTS OF
DEFAULT

The occurrence of any of the following events of default (“Event of Default”) shall, at the option of the Holder
hereof, make all sums of principal and interest then remaining unpaid hereon
and all other amounts payable hereunder immediately due and payable, upon
demand, without presentment, or grace period, all of which hereby are expressly
waived, except as set forth below:

(a)       Failure to Pay.  The Borrower fails to pay the Principal
Amount, interest or other sum due under this Note when due and such failure
continues for a period of ten (10) business days after the due date.

 2
 

(b)       Breach of Covenant.  The Borrower breaches any material covenant or
this Note in any material respect and such breach, if subject to cure,
continues for a period of ten (10) business days after written notice to the
Borrower from the Holder.

(c)       Breach of Representations and
Warranties.  Any material representation
or warranty of the Borrower made herein, statement or certificate given in
writing pursuant hereto or in connection herewith or therewith shall be false
or misleading in any material respect as of the date made and the Closing Date.

(d)       Judgments.  Any money judgment, writ or similar final
process shall be entered or filed against Borrower or any subsidiary of
Borrower or any of their property or other assets for more than $100,000, and
shall remain unvacated, unbonded or unstayed for a period of forty-five (45)
days.

(e)       Receiver or Trustee.  The Borrower shall make an assignment for the
benefit of creditors, or apply for or consent to the appointment of a receiver
or trustee for them or for a substantial part of their property or business; or
such a receiver or trustee shall otherwise be appointed.

(f)        Bankruptcy.  Bankruptcy, insolvency, reorganization or
liquidation proceedings or other proceedings or relief under any bankruptcy law
or any law, or the issuance of any notice in relation to such event, for the
relief of debtors shall be instituted by or against the Borrower or any
Subsidiary of Borrower and if instituted against them are not dismissed within
sixty (60) days of initiation.

Upon the occurrence of any Event of Default, the
Holder may proceed to protect and enforce its rights hereunder by suit in
equity, action at law or by other appropriate proceeding, whether for the
specific performance of any covenant or agreement contained in this Note.

ARTICLE 5

MISCELLANEOUS

5.1       Subordination.  Holder hereby agrees that this Note shall be
subordinated to any debt obtained by the Borrower from a bona fide commercial
lender.  Holder agrees to execute such
agreements and other documents as may be reasonably necessary to effectuate the
subordination provided above.

Not excluding the
foregoing, Borrower shall not either (i) issue any Note (or other debt vehicle)
that is senior to this Note or (ii) grant a security interest in any of its assets, without the
express written approval of the majority principal amount of Note holders.

5.2           Failure
or Delay Not Waiver.  No failure or
delay on the part of Holder hereof in the exercise of any power, right or
privilege hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such power, right or privilege preclude other or
further exercise

 3
 

thereof or of any other right, power or
privilege.  All rights and remedies
existing hereunder are cumulative to, and not exclusive of, any rights or
remedies otherwise available.

5.3           Notices.  All notices, demands, requests, consents,
approvals, and other communications required or permitted hereunder shall be in
writing and, unless otherwise specified herein, shall be (i) personally served,
(ii) deposited in the mail, registered or certified, return receipt requested,
postage prepaid, (iii) delivered by reputable air courier service with charges
prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile,
addressed as set forth below or to such other address as such party shall have
specified most recently by written notice. 
Any notice or other communication required or permitted to be given
hereunder shall be deemed effective (a) upon hand delivery or delivery by
facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business
day during normal business hours where such notice is to be received), or the
first business day following such delivery (if delivered other than on a
business day during normal business hours where such notice is to be received)
or (b) on the second business day following the date of mailing by express
courier service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur.  The addresses for such communications shall
be: (i) if to the Borrower to:  iVOW,
Inc., 16870 West Bernardo Drive, Suite 400, San Diego, CA 92127, Attn:  Richard Gomberg, CFO, telecopier: (858) 674-6921,
and (ii) if to the Holder,                                                     ,
                                                                                                                 telecopier
(      )              .

5.4           Amendment Provision.  The
term “Note” and all reference thereto, as used throughout this instrument,
shall mean this instrument as originally executed, or if later amended or
supplemented, then as so amended or supplemented.

5.5           Assignability.  This Note shall be binding upon the Borrower
and its successors and assigns, and shall inure to the benefit of the Holder
and its successors and assigns.

5.6           Governing
Law.  This Note shall be governed by
and construed in accordance with the laws of the State of Delaware, without
regard to conflicts of laws principles that would result in the application of
the substantive laws of another jurisdiction. 
Any action brought by either party against the other concerning the
transactions contemplated by this Agreement shall be brought only in the state
courts or in the federal courts located in the County of San Diego in the State
of California.  Both parties agree to
submit to the jurisdiction of such courts. 
Nothing contained herein shall be deemed or operate to preclude the
Holder from bringing suit or taking other legal action against the Borrower in
any other jurisdiction to collect on the Borrower’s obligations to Holder or to
enforce a judgment or other court in favor of the Holder.

5.7           Attorneys’
Fees.  The prevailing party shall be
entitled to recover from the other party its reasonable attorneys’ fees and
costs.

5.8           Construction.
 Each party acknowledges that its legal
counsel participated in the preparation of this Note and, therefore, stipulates
that the rule of construction that ambiguities are to be resolved against the drafting
party shall not be applied in the interpretation of this Note to favor any
party against the other.  In the event
that any provision of this Note is invalid or unenforceable under any
applicable statute or rule of law, then such provision shall be deemed
inoperative to the

 4
 

extent that it may conflict therewith and
shall be deemed modified to conform with such statute or rule of law.  Any such provision which may prove invalid or
unenforceable under any law shall not affect the validity or unenforceability
of any other provision of this Note.

IN WITNESS WHEREOF, Borrower has caused this Note to be signed in its
name by an authorized officer as of the 27th day of April, 2007.

	
  

  	
   

  	
  IVOW, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
      Name: Richard Gomberg

  
	
   

  	
   

  	
   

  	
      Title: Vice President, CFO

  

 

 5
 

NOTICE OF CONVERSION

(To be executed by the Registered Holder in order to convert the Note)

The undersigned hereby elects to convert $              
of the principal and interest due on the Note issued by iVOW, Inc. on April 27,
2007 into common shares of iVOW, Inc. (the “Borrower”)
according to the conditions set forth in such Note, as of the date written
below.

Date of Conversion:

Conversion Price:

Signature:

Print Name:

Address:

 6

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