Document:

ex101.htm

                                                                  

       

      
        	
                 

              	
                
                  100 Wellington
      Street West Suite 2201

                  Toronto,
      Ontario, Canada

                  M5K
      1K2

                  Phone:
      416-594-2228

                  Fax:
      416-352-5864

                

              

      

       

       

    

    December 3,
2008

     

    Mantra
Venture Group Ltd.

    Dominion
Building

    Suite 1205, 207
West Hastings Street

    Vancouver,
BC

    V6B
1H7

    

     

    

    Attention:                      Mr.
Larry Kristof – President and CEO

    

    

     

    Re:           Sponsorship
to TSX Venture Exchange (TSXV) and Proposed Equity Capital Raise (the
“Agreement”)

     

    

     

    Dear
Sirs,

     

        M Partners Inc. (the
“Agent” or “M Partners”) understands that Mantra Venture Group Ltd. (“the
Company”) proposes to become listed on the TSX Venture Exchange (the “TSXV”) and
requires a TSX Sponsorship formal due diligence study (the “Sponsorship”)
ensuring the Company meets all TSXV listing requirements. In addition, the
Company proposes to make an offering of securities concurrently to raise capital
under a non-brokered private placement, an offering up to CDN$1,500,000 by way
of an Equity Capital Raise (the “Offering”) and submit an application to qualify
a portion of the Offering for a tax credit under the Small Business Venture
Capital Act.

     

    Sponsorship

     

        The Agent agrees to
act as Sponsor to the Company and provide to the TSXV with a sponsorship report
subject to the terms and conditions set forth below:

     

    
      	
              1)  

            	
              The services
      offered pursuant to this Agreement shall include the submission by M
      Partners of a Sponsorship Report, as required by the TSXV under TSXV
      Policy 2.2, including a Sponsorship Acknowledgement, a preliminary
      Sponsorship Report and final Sponsor Report, subject to satisfactory
      results from Agent’s due diligence
reviews.

            

    

     

    
      	
              2)  

            	
              The Company
      will pay a non-refundable retainer fee of CDN$10,000 to Agent, upon
      execution of this Agreement.

            

    

     

    
      	
              3)  

            	
              The total
      Sponsorship fees payable, of CDN$45,000, plus G.S.T., less the retainer
      fee, shall be payable on the delivery of the final Sponsorship
      Report.   The Agent will not deliver the final Sponsorship
      Report unless sufficient money has been raised by the Company (in either
      the Offering or through non-brokered interim offerings) to meet the
      minimum asset and working capital listing requirements of the
      TSXV.

            

    

     

    
      	
              4)  

            	
              The Agent
      will commence the due diligence process for sponsorship following the
      execution of an engagement letter between the Company and the Agent and
      such due diligence shall be completed expeditiously. M Partners will
      appoint Kelly Klatik as the key contact person on this Sponsorship and
      will be required to notify the Company immediately of any changes to
      this.

            

    

     

    
      	
              5)  

            	
              The Company,
      will be responsible for the expenses of the Agent relating to this
      Agreement including, without limitation, legal fees, printing costs,
      mailing costs, all advertising charges approved by the Company and the
      Agent’s reasonable out-of-pocket expenses including all charges by
      ‘experts’ (consultants, under contracts approved by both the Company and
      Agent, providing assessments or technical reports required for the
      preparation of the Sponsor Report) and travelling expenses which will be
      budgeted by mutual agreement; provided that Agent will not incur aggregate
      expenditures (exclusive of fees, and disbursements of its counsel), in
      excess of CDN$10,000 during the term of this Agreement, without the prior
      approval of the Company. An expense retainer of CDN$10,000 will be
      required once the Agent has incurred CDN$5,000 in
  expenses.

            

    

     

    
      	
              6)  

            	
              The Company
      will be responsible for any non-brokered interim offerings and closings of
      funds prior to the completion of the Sponsorship report and TSXV listing.
      The Company will be required to provide continuous disclosure and updates
      to the Agent of any terms and conditions of these interim capital raises.
      The Agent has the option to participate in the non-brokered offering as a
      finder and will earn a commission (the “Finder’s Commission”) equal to
      eight percent (8.0%) of the aggregate gross proceeds received by the
      Company from investors referred by the Agent under the non-brokered
      placement, which will be payable to the Agent at the time of closing of
      the Offering. The Company will refer any institutional clients resident in
      Canada to the Agent on the non-brokered offering. The maximum raised under
      the non-brokered offering from Canadian residents will be CDN$350,000 and
      this limit will apply for the earlier of the conclusion of the Sponsorship
      and 60 days from the date of this Agreement (“Non-Brokered Offering
      Period”). The maximum raised may be increased by mutual consent of the
      Company and the Agent.  After the Non-Brokered Offering Period,
      if the Sponsorship has not been completed and is ongoing, the Company may
      raise an additional CDN$350,000 through additional non-brokered offerings
      from Canadian resident investors every 60 days as agreed by Agent acting
      reasonably.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

     

    
      	
              7)  

            	
              The Company
      may also complete one or more interim non-brokered offerings from
      investors (institutional or non-institutional) not resident in Canada
      (“International Offerings”).  If the Company completes
      International Offerings prior to a TSXV listing, the Company will pay the
      Agent a commission on the aggregate gross proceeds received by the Company
      pursuant to the International Offerings equal
  to:

            

    

     

    
      	
              a.  

            	
              four percent
      (4%) for non institutional investors for any financing received by the
      Company in excess of  the Exempt International Offering Amount
      as described below; and

            

    

     

    
      	
              b.  

            	
              eight percent
      (8%) for institutional investors.

            

    

     

    The Exempt
International Offering Amount shall be equal to CDN$350,000 every 60 days, less
the amount of any financing received by the Company from Canadian residents
during that 60 day period.

     

    The Company will be
required to provide continuous disclosure and updates to the Agent of any terms
and conditions of the International Offerings.

     

    
      	
              8)  

            	
              Any capital
      raised through any non-brokered interim offerings will not be subject to
      the requirement that the funds be held in escrow by the Agent until
      completion of the TSXV listing, subject to regulatory
    rules.

            

    

     

    Equity Capital Raise
Offering

     

        In addition and
exclusive to the sponsorship, the Agent wishes to arrange, on a commercially
reasonable best efforts basis, the offer and sale of the Offered Securities
(defined below).  The Offering is proposed to be units comprised of
Common Shares of the Company (the “Common Shares”) and Common Share Purchase
Warrants (the “Warrants”) issued from treasury of the Company (the “Offered
Securities”) in accordance with the terms below. This offering may be concurrent
to the Sponsorship; however, will not close until the completion of the
Sponsorship report and listing of the Company on the TSXV. In addition, the
Agent will assist with an application to qualify a portion of the Company’s
Offered Securities for a tax credit under the Small Business Venture Capital
Act.

     

        Subject to the terms
and conditions hereof, the Company hereby appoints the Agent and the Agent
hereby agrees to act as the Company’s exclusive lead agent, on a commercially
reasonable best efforts basis and upon the terms and subject to the conditions
hereinafter set forth to offer and sell the Offered Securities to accredited
investors.  The Agent, under guidance from the Company, may appoint in
respect of the Offering, a syndicate or selling group consisting of other agents
or sub-agents who are registered dealers, subject to the approval of the
Company.  The obligations of the Company hereunder shall be
conditional upon receiving all consents, approvals and/or waivers from the TSXV.
The proposed terms and conditions of the Offering are as follows:

     

    Summary of
Terms

     

    
      	
               Issuer:

            	
              Mantra
      Venture Group Ltd. (the “Company”)

            
	
              Offered
      Securities:

            	
              Units of the
      Company (the “Units”). Each Unit consisting of one common share of the
      Company (a “Common Share”) and one half Common Share purchase warrant,
      with each whole Common Share purchase warrant (a “Warrant) entitling the
      holder to purchase a Common Share (a “Warrant Share’) for 2 years at a
      price equal to a to be determined % premium to the Issue Price during the
      first year following the date of the closing of the Offering and a to be
      determined % premium to the Issue Price during the second year following
      the date of the closing of the Offering. The premiums, if any, will be
      determined in context with market conditions.

            
	
              Price:

            	
               The
      Issue Price will be determined in context with market conditions (the
      “Issue Price”).

            
	
              Offering
      Amount:

            	
              Up to CDN
      $1,500,000

               

            
	
              Over-Allotment
      Option:

            	
              Over-Allotment
      Option to acquire additional Units, representing 20% of the number of
      Units, to cover over-allotments, if any, and for market stabilization
      purposes. The Over-Allotment Option may be exercised at the Issue Price
      for a period of 30 days from the date of closing of this
      Offering.

               

            
	
              Selling
      Jurisdictions:

            	
              Provinces of
      Ontario, Alberta, British Columbia and such other Provinces and/or
      jurisdictions outside of Canada as may be agreed to between the Company
      and the Agent.

               

            
	
              Use of
      Proceeds:

            	
              The net
      proceeds will be used to provide capital to meet working capital
      requirements for the TSX Venture Exchange (the “TSXV”) listing and for
      working capital purposes, as per schedule “A” attached.

               

            
	
              Closing
      Date:

            	
              As may be
      agreed to between the Company and the Agent

               

            
	
              Conditions:

            	
              Funds will be
      held in escrow and the Offering will not be completed until approval of
      regulatory bodies for listing on the TSXV is received.

            
	
              Agent’s
      Compensation:

            	
              A cash
      commission (the “Agent’s Commission”) equal to eight percent (8.0%) of the
      aggregate gross proceeds received by the Company under the Offering will
      be payable to the Agent at the time of completion of the Offering. The
      Agents Commission will be reduced to four percent (4.0%) on gross proceeds
      from investors (non-institutional) referred by the Company, excluding
      other intermediaries. The Company or Agent may introduce other sub-agents
      to the Offering and the sub-agents may participate in a portion of the
      cash commission, as agreed by Agent.

               

               

              The Company
      shall create and issue to the Agent non-transferable warrants (“Broker’s
      Warrants”) entitling the Agent to acquire 8% of the number of Units sold
      under the Offering exercisable at a 15% premium to the Issue Price of the
      Units for a period of 18 months from closing.

               

            
	
              Expenses:

            	
              The Company
      shall be responsible for all reasonable costs and expenses of the
      Offering, including due diligence costs, and shall reimburse the Agent for
      its reasonable out-of-pocket expenses and pay the fees of the Agent’s
      legal counsel as per guidelines under Sponsorship heading item
      (5)

               

            
	 
    	 
    

    

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Prospectus Exempt
Offering

     

        The offer and sale of
the Offered Securities is to be made in a manner exempt from the prospectus
requirements of the securities legislation of the Provinces of British Columbia,
Alberta and Ontario (and such other Provinces of Canada in which the Offered
Securities may be sold) (the “Offering Jurisdictions”) without the necessity of
obtaining any orders of relevant securities commissions or other appropriate
regulatory bodies.

     

        The Offered
Securities are being offered by the Company in Canada pursuant to exemptions
from the prospectus requirements of applicable securities laws set out in NI
45-106 Prospectus and Registration Exemptions (“NI 45-106”) which exempts trades
in a security if the purchaser is an accredited investor as defined in NI 45-106
or purchasing securities with a cost of not less than CDN$150,000 paid in
cash.  Subscriptions will only be accepted by the Company from persons
resident in the Offering Jurisdictions either who are and certify they are
accredited investors or purchase Units with a cost of not less than
CDN$150,000.  The Agent agrees that it will conduct its activities in
connection with the distribution of the Offered Securities on the foregoing
basis in compliance with all relevant laws and regulatory
requirements.

     

    Other
Jurisdictions

     

        The Offering may be
made in such other jurisdictions outside of Canada as the Agent and the Company
may agree, subject to the purchaser of Offering Securities and the Company
demonstrating to the satisfaction of the Agent that the Offered Securities may
be offered and sold in such other jurisdiction.

     

        The Company and the
Agent undertake to file or cause to be filed all forms and undertakings required
to be filed by the Company and the purchasers, respectively, in connection with
this Offering so that the offer and sale of the Offered Securities may lawfully
occur without the necessity of filing a prospectus.

     

     

    Subscription
Agreement

     

        Each purchaser of
Offered Securities shall execute a subscription agreement in a form satisfactory
to the Company and the Agent acting reasonably.

     

     

    Commercially Reasonable Best
Efforts Offering

        

        It is understood that
this letter agreement does not represent a firm commitment of the Agent to
purchase any offered Units.  The Agent shall act as the Company's
exclusive lead-agent in connection with the Offering, and shall use its
commercially reasonable best efforts to solicit purchases of the Offered
Securities, but the Agent shall have no obligation to purchase any
Units.  The Agent’s ability to successfully market the issue will be
contingent upon market conditions at the time of the Offering and the completion
of satisfactory due diligence by the Agent or its representatives.

     

        The Company agrees
not to deal with any other underwriter or agent in respect of the subject
financing nor will the Company seek financing in a form the same as, or similar
to, the subject financing before the end of the term of this agreement, without
prior written consent of the Agent, such consent not to be unreasonably
withheld.

     

        During the term of
this agreement, the Company may introduce other sub-agents to the Offering and
the sub-agents may participate in a portion of the cash commission, as agreed by
Agent.

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    Due
Diligence

     

        The Agent will
commence the due diligence process immediately following a fully executed
agreement between the Company and the Agent and such due diligence shall be
completed expeditiously. The Company will make available to the Agent all
financial information, documentation and records of the Company and its
subsidiaries and shall further make available to the Agent the senior management
of the Company and subsidiaries in order to enable the Agent to conduct such due
diligence investigations and review as the Agent determines necessary and to
assist the Agent in completion of the sponsorship documents and to market the
Offering.

        

        The Company agrees
that during the term of this engagement, the Agent will be kept informed of all
material business and financial developments affecting the Company and its
business, whether or not requested by the Agent or its legal counsel.

     

     

    Indemnity

     

        The Company covenants
and agrees to protect and indemnify the Agent for and on behalf of itself and
for and on behalf of and in trust for its officers, employees and agents (an
“Indemnified Party”) against any and all losses (other than loss of profits),
claims, damages, liabilities, costs or expenses caused or incurred by reason of
or arising out of the Offering or the subject matter of this agreement including
without limitation:

     

     

    
      	
              (a)  

            	
              Any statement
      which at the time and in the light of the circumstances under which it was
      made may contain a misrepresentation (as defined in the Securities Act
      (Ontario)) (other than information relating to or provided by the Agent);
      or

            

    

     

    
      	
              (b)  

            	
              The omission
      or alleged omission to state any material fact required to be stated
      therein or necessary to make any statement therein not misleading in the
      light of the circumstances under which it was made (other than information
      relating to or provided by the
Agent).

            

    

     

        If any action or
claim shall be asserted against an Indemnified Party in respect of which
indemnity may be sought from the Company pursuant to the provisions hereof, or
if any potential claim contemplated hereby shall come to the knowledge of an
Indemnified Party, the Indemnified Party shall promptly notify the Company in
writing of the nature of such action or claim (provided that any failure to so
notify shall not affect the Company's liability under this paragraph unless such
delay has prejudiced the defense to such claim).  The Company shall
assume the defense thereof at its expense, provided, however that the defense
shall be through legal counsel acceptable to the Indemnified Party, acting
reasonably.  In addition, the Indemnified Party shall also have the
right to employ separate counsel in any such action and participate in the
defense thereof, and the fees and expense of such counsel shall be borne by the
Company if:

     

    
      	
              (a)  

            	
              The
      Indemnified Party has been advised by counsel, acting reasonably, that
      representation of the Company and the Indemnified Party by the same
      counsel would be inappropriate due to actual or potential differing
      interests between them; or

            

    

     

     

    
      	
              (b)  

            	
              The Company
      has failed within a reasonable time after receipt of such written notice
      to assume the defense of such action or
claim.

            

    

     

     

        It is understood and
agreed that neither party shall effect any settlement of any action or claim or
make any admission of liability without the written consent of the other party,
such consent not to be unreasonably withheld or delayed.

     

        In the event that,
for any reason, the indemnity provided for herein is unavailable, the Agent and
the Company shall contribute to the aggregate of all losses, claims, damages,
liabilities, costs or expenses such that the Agent shall be responsible for that
portion represented by the percentage that the Agent's Commission bears to the
gross proceeds from the Offering and the Company shall be responsible for the
balance.  Notwithstanding the foregoing, a person guilty of fraudulent
misrepresentation shall not be entitled to contribution from any other
party.  Any party entitled to contribution will, promptly after
receiving notice of commencement of any claim, action, suit or proceeding
against such party in respect of which a claim for contribution may be made
against another party or parties under this section, notify such party or
parties from whom contribution may be sought.  In no case shall such
party from whom contribution may be sought be liable under this contribution
agreement unless such notice shall have been provided, but the omission to so
notify such party shall not relieve the party from whom contribution may be
sought from any other obligation it may have otherwise than under this
section.  The right to contribution provided in this section shall be
in addition to, and not in derogation of, any other right to contribution which
the Agent may have by statute or otherwise by law.

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    Conditions

     

        The following are
conditions of the obligations of the Agent and purchasers of the Offered
Securities to close the transaction contemplated hereby which conditions the
Company covenants to exercise its reasonable efforts to have fulfilled at or
prior to closing, which conditions may be waived in writing in whole or in part
by the Agent on behalf of the purchasers:

     

    
      	
              (a)  

            	
              The Company
      will make reasonable efforts to provide the Agent with such financial and
      other information as Agent may reasonably request and which is reasonably
      available to the Company and is not subject to agreements prohibiting
      disclosure thereof in order to perform the services contemplated by this
      Agreement.  The Company will make reasonable efforts to make
      available to Agent all information pertaining to the Company or which is
      available to the Company determined in the opinion of Agent to be material
      to the Sponsorship Report.

            

    

     

    
      	
              (b)  

            	
              The Company
      agrees that the Sponsorship Report (including Sponsorship Acknowledgement,
      preliminary Sponsorship Report and final Sponsorship Report) shall not be
      released to any party, other than the TSXV, without the express written
      consent of Agent.  The Company hereby further agrees that the
      contents of Agent’s due diligence reviews and documentation included
      therein, including, without limitation, all opinions and reports of
      Agent’s professionals and experts (the “Review Materials”), are
      confidential to Agent;  Agent is under no obligation to disclose
      the Review Materials to the Company.  The Company confirms,
      acknowledges and agrees that in carrying out its due diligence obligations
      to the TSXV Agent is obligated to research and confirm both the academic
      credentials and work experience of the Company’s officers and directors in
      certain circumstances and accordingly Agent will need to contact relevant
      companies and academic
institutions.

            

    

     

    
      	
              (c)  

            	
              The Company
      shall comply with corporate governance recommendations and requirements of
      applicable securities laws and the TSXV and shall in any event make
      efforts towards inclusion of at least one independent director on the
      board and at least on director with relevant industry
      experience;

            

    

     

    
      	
              (d)  

            	
              There has
      been no significant or material information that arises out of the due
      diligence process, which may impact the Agents ability to raise
      capital;

            

    

     

    
      	
              (e)  

            	
              There is no
      material change in the management of the Company between the date hereof
      and the closing anticipated herein (except with the permission of the
      Agent);

            

    

     

    
      	
              (f)  

            	
              The Company
      and the Agent shall have entered into a definitive Agency Agreement
      providing for the Offering;

            

    

     

    
      	
              (g)  

            	
              The Company
      shall have created and the Company and each purchaser shall have entered
      into a form of subscription agreement satisfactory to the
      Agent;

            

    

     

    
      	
              (h)  

            	
              The Company’s
      Board of Directors shall have authorized and approved this engagement
      letter, the Agency Agreement and the forms of subscription agreements and
      warrant certificate and the issuance of the Common Shares, creation of the
      Warrants and Broker’s Warrants and the issuance of Common Shares on the
      exercise of Warrants and Broker’s
Warrants;

            

    

     

    
      	
              (i)  

            	
              The Agent and
      each Purchaser shall have received a certificate of the Company signed by
      a senior officer of the Company on behalf of the Company certifying that
      the Company has complied with the terms of this agreement, that there has
      been no material adverse change in the assets, liabilities, financial
      position, business or operations of the Company not otherwise publicly
      disclosed and filed by the Company and/or it subsidiaries on SEDAR and
      such other customary factual matters as the Agent may reasonably
      request;

            

    

     

    
      	
              (j)  

            	
              The Agent and
      the purchasers of Common Shares shall have received an appropriate legal
      opinion from the Company’s legal counsel, respecting the corporate status
      of the Company, the issuance of the Common Shares and Warrants and the exemption
      of the Offering from the prospectus requirements of applicable securities
      law and such other customary matters as the Agent may reasonably
      require;

            

    

     

    
      	
              (k)  

            	
              The Company
      shall have obtained all necessary approvals for the Offering, and the
      listing of the corporation on the TSXV, including conditional acceptance
      of the TSXV and shareholder approval satisfactory to TSXV, if
      required;

            

    

     

    
      	
              (l)  

            	
              The funds
      received pursuant to this Offering shall be held in escrow by Agent’s
      legal counsel and shall not be released to the Company until such time as
      the conditions described in (l) above have been met;
  and

            

    

     

    
      	
              (m)  

            	
              Such other
      terms and conditions as the Agent may reasonably establish and
      request.

            

    

     

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    Agent’s
Covenant

     

        Agent agrees that any
confidential information obtained by it, which is not otherwise in the public
domain, in performing the services contemplated by this Agreement, will not be
disclosed or used in any manner except in conjunction with providing the
services to the Company hereunder.  Agent agrees that it will not use
any confidential information, analysis, documents or reports prepared by Agent
or opinions received from the Company with respect to the Company or the value
of its assets for any purpose other than advising the Company.  Agent
shall not under any circumstances provide to any third party any information
relating to the Company that is not in the public domain.  If Agent
has any doubt as to whether any such information is in the public domain, Agent
shall consult with the Company and the Company’s classification of such
information as being either public or confidential shall be final and binding.
This covenant will expire in 18 months.

     

     

    Agency
Agreement

     

        The definitive terms
of our agreement will be governed by a formal agency agreement (the “Agency
Agreement”) in respect to the Offering to be settled as soon and entered into as
is reasonably practicable. The Agency Agreement will be negotiated in good faith
among the Company and the Agent and will contain representations, warranties,
covenants, conditions, including, without limitation, any conditions referred to
in this letter agreement, the delivery of legal opinions from counsel to the
Company with respect to the Offering and other relevant corporate and securities
matters as well as the due authorization and enforceability (subject to the
usual exceptions) of material contracts acceptable to the Agent and its counsel
and indemnities and termination provisions (including, without limitation, a
broad “market out”, “disaster-out”, “material adverse change-out”,
“litigation-out”, “due diligence-out” and “regulatory-out” rights) standard in
agreements of this type and will be consistent in all material respects with
this letter.

     

     

    Documentation

     

        The Company shall be
responsible for preparation of all marketing documentation to be used by the
Agent notwithstanding that Agent may assist the Company in preparation of such
documentation.

     

     

    Closing

     

        The purchase of the
Offered Securities will be completed at the offices of legal counsel to the
Company in Vancouver, British Columbia at (i) 10:00 am on the date as may be
mutually agreed by the Company and the Agent.  At the respective
closings, the Company shall deliver to the Agent on behalf of the
purchasers:

     

    
      	
              (i)

            	
              Share
      certificates and warrant certificates duly registered as the Agent on
      behalf of the purchasers representing the Offered Securities shall
      direct;

            

    

     

    
      	
              (ii)

            	
              The officers’
      certificate and the legal opinion as contemplated above;
    and

            

    

     

    
      	
              (iii)

            	
              Such further
      documentation as the Agent may reasonably
  require;

            

    

     

    against
payment of the purchase price for the Offered Securities being purchased by
certified cheque or bank draft.  At closing the Company will make
payment of the Agent’s fees and reimbursement of the Agent’s legal fees and
expenses by certified cheque payable or to the direction of the
Agent.  The Agent and the Company may discharge their respective
payment obligations by way of direction and delivery by the Agent of a net
proceeds cheque to the Company.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    Alternative
Transaction

     

        Subject to Subsection
6 of the heading “Sponsorship” in this Agreement, until the earlier of the
completion of the Offering or termination of this letter of agreement, the
Company agrees not to sell or negotiate or enter into an arrangement to sell all
or substantially all of the assets of the Company or enter into a merger,
amalgamation, arrangement, reorganization, takeover-bid or other business
combination with a third party or other similar transaction, which transaction
does not provide for the completion of the Offering (an “Alternative
Transaction”) without the prior written consent of the Agent, such consent not
to be unreasonably withheld. In the event that the Company enters into an
agreement or makes a public announcement with respect to an Alternative
Transaction prior to completion of the Offering, the Company agrees to pay the
Agent its expenses of the Offering and the legal expenses of the Agents’ legal
counsel(s) incurred in connection with the Offering, plus a fee equal to the
Agent’s Commission assuming an offering of CDN$750,000, in full satisfaction of
all claims against the Company in this regard.

     

     

    Right of First Refusal

     

        The Company hereby
grants to the Agent a right to first refusal (“ROFR”) to act as its lead agent,
underwriter, or advisor on any subsequent financing undertaken by the Company or
its subsidiaries (whether or not such financing is undertaken through a broker,
underwriter, agent or otherwise) and a right of first offer to act as its
financial advisor on any strategic transaction, including a merger, an
acquisition, or a divestiture of any kind. The rights shall be in effect during
the 12 month period immediately following the closing of the private placement.
The ROFR shall apply irrespective of the nature of the financing transaction
which the Company plans to undertake including, without limitation, a public
offering or private placement, equity, convertible securities or secured,
unsecured, mezzanine or subordinated debt financing or otherwise. Following a
written notice by the Company to the Agent of the required assignment, the Agent
will have 10 business days to issue a term sheet to the Company that is in
context to Company’s financial position and the current market
conditions.

     

     

    Limits on Issuing Securities
and Trading

     

        The Company agrees
not to authorize, sell or issue or announce its intention to authorize, sell or
issue or negotiate or enter into an agreement to sell or issue any Common Shares
(including those that are convertible or exchangeable into Common Shares) other
than (i) pursuant to the Offering, (ii) upon the exercise of convertible
securities, options or warrants of the Company outstanding at the date hereof,
or (iii) pursuant to the Company’s stock option plan or share compensation plan,
for a period determined by the TSXV Escrow requirements

        

        Provided that the
Offering is completed, all of the officers and directors of the Company
immediately prior to the completion of the Offering shall execute and deliver
written undertakings in favour of the Agent agreeing not to sell, contract to
sell, grant an option to purchase, make any short sale, transfer, assign, pledge
or otherwise dispose of, or announce any intention to do so, any securities of
the Company owned, directly or indirectly, by them for a period determined by
the TSXV Escrow requirements.

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Termination

     

        The Agent may
terminate this Agreement, with no further consequences to the Company, by giving
notice in writing to the Company at any time if:

     

    
      	
              (a)

            	
              The Agent is
      not satisfied in its sole discretion with its due diligence review and
      investigation of the Company and consequently the Agent is unwilling or
      unable to market the Offering due to reasons consequent to its due
      diligence investigations; or

            

    

     

    
      	
              (b)

            	
               There is, in
      the opinion of the Agent, a material change in management occurs or a
      change in any material fact or a new material fact shall arise which would
      be expected to have an adverse change or effect on the business, affairs,
      prospects or financial condition of the Company or on the market price or
      the value of the securities of the Company;
or

            

    

     

    
      	
              (c)

            	
               The state of
      the financial markets becomes such that in the sole opinion of the Agent
      it would be impracticable or unprofitable to offer or continue to offer
      the proposed securities for sale;
or

            

    

     

    
      	
              (d)

            	
               There should
      develop, occur or come into effect any event of any nature, including
      without limitation, accident, act of terrorism, public protest,
      governmental law or regulation which in the sole opinion of the Agent
      adversely affects or may adversely affect the financial markets or the
      business, affairs, prospects or financial condition of the Company or the
      market price or value or marketability of the securities of the Company;
      or

            

    

     

    
      	
              (e)

            	
               There is an
      enquiry or investigation (whether formal or informal) by any securities
      regulatory authority in relation to the Company or any one of its officers
      or directors, or any of its principal shareholders;
  or

            

    

     

    
      	
              (f)

            	
               The Company
      is in breach of a material term, condition or covenant of this agreement
      or the Agency Agreement, or any representation or warranty given by it in
      this agreement becomes or is false;
or

            

    

     

    
      	
              (g)

            	
               The Agent has
      not completed the Offering within 6 months of the execution of this
      Agreement; the Agent may terminate this Agreement with 10 days written
      notice to the Company and with no further
  consequences.

            

    

    

    The Company may
terminate this Agreement with no further consequences if the Agent has not
completed the Offering within 6 months of the execution of this Agreement by
providing 10 days written notice to the Agent.

    

     

        The Company may
terminate this Agreement before the completion of the Offering, and before 6
months have elapsed since the execution of this Agreement, for any
reason.  If the Company chooses to terminate this Agreement before the
completion of the Offering, and before 6 months have elapsed since the execution
of this Agreement, the Company shall pay the Agent the Agent’s expenses of the
Offering and the legal expenses of the Agents’ legal counsel(s) incurred in
connection with the Offering, plus a fee equal to the Agent’s Commission
assuming an offering of CDN$750,000, in full satisfaction of all claims against
the Company in this regard.

     

        If the Company
terminates this Agreement and completes a non-brokered financing from any person
referred by the Agent within a period of 180 days after termination of this
Agreement, the Company shall pay the Agent a commission of 8% of the gross
proceeds, which shall be due and payable upon closing of any such
financing.

     

        If the Company
terminates this Agreement, and within a period of 120 days it enters into a
sponsorship agreement with a different agent, it shall be obligated to pay to M
Partners the sponsorship fee of CDN$45,000 (less the CDN$10,000
deposit).  This fee shall be payable to M Partners upon completion of
the Company’s listing on the TSXV.

     

    
      (REMAINDER OF PAGE
LEFT INTENTIONALLY BLANK)

    

     

     

    
 

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    

    General

     

        This agreement shall
be governed by and construed in accordance with the laws of the Province of
British Columbia and time shall be of the essence hereunder. The parties agree
to attorn to the jurisdiction of the Province of British Columbia regarding any
legal dispute between the parties.

     

        If the foregoing is
in accordance with your understanding and is agreed to, please evidence our
agreement by execution and delivering to the Agent two copies of this
letter.

     

        Unless otherwise
extended by the Agent in writing, this offer is open for acceptance by the
Company’s acceptance by facsimile at 416-352-5864 - Attention: Kelly Klatik
until 5:00 p.m. (Vancouver time) on December 4, 2008.

     

        Yours very
truly,

     

        M Partners
Inc.

     

        By: /s/
Kelly Klatik

        Kelly
Klatik

        Vice
President

     

        By: /s/
Thomas S. Kofman

        Thomas S.
Kofman

        Chairman

     

     

        The foregoing
accurately reflects our understanding and is agreed to on the terms set forth
above.

     

     

        AGREED AND
ACCEPTED this 4th day of
December, 2008.

     

        By: /s/
Larry Kristof

        Mantra
Venture Group Ltd.

        Larry Kristof
– President and CEOexibit10-1.htm

    EXCLUSIVE
LICENSE AGREEMENT

    

    

    
      	
              BETWEEN

            	
              Global Entertainment Holdings,
      Inc. a corporation incorporated under the laws of Nevada, having
      its registered office at 650 N. Bronson Avenue, Suite B-116, Los Angeles,
      CA 90004, USA represented herein by Gary Rasmussen, its Chief Executive
      Officer and duly authorized officer as he so
  declares,

            

    

    

    Hereinafter
referred to as “Licensor”

    

    
      	
              AND

            	
              Global
      Universal  Pictures, Inc., a corporation incorporated
      under the laws of New Brunswick, having its registered office at 11 Pine
      Court, Maugerville, New Brunswick, E3A 8M8 Canada, represented herein by
      Jacqueline Giroux, its President and duly authorized officer as she so
      declares,

            

    

    

     Hereinafter
referred to as “Licensee”

    

    IT
IS AGREED:

    

    
      	
               
      

            	
              1.

            	
              DEFINITIONS

            

    

    

    The
following words, wherever used in this Agree­ment or in any deeds or
agree­ments supplemental or ancillary hereto, shall have the following
meanings:

    

    
      	
              1.1

            	
              “Film” means and refers
      to up to 1 x 95 -
      100 minute Feature Film production project, (including credits and
      music video) more
      fully described as follows:

            

    

    

    
      	
               
      

            	
              1.1.1

            	
              Title

            	
              -

            	
              “Blue Seduction” (working
      title)

            

    

    
      	
               
      

            	
              1.1.2

            	
              Concept

            	
              Global
      Entertainment Holdings, Inc.

            

    

    

    
      	
               
      

            	
              as
      more fully described in Schedule “A”attached
  hereto.

            

    

    

    
      	
              1.2

            	
              “WORK” means and refers
      to the project described in above article 1.1,
  including:

            

    

    

    
      	
               
      

            	
              1.2.1

            	
              the
      title “Symphony”;

            

    

    
      	
               
      

            	
              1.2.2

            	
              the
      Concept of the Film;

            

    

    

    
      	
               
      

            	
              1.3       “Television" means and
      refers to any and all forms and technologies of television, whether
      now  known or  hereafter devised, including without
      limitation, television forms commonly referred to as "Free TV", "PayTV",
      "Public TV", "DBS", "Cable TV" and "Subscription
  TV".

            

    

    

    
      	
               
      

            	
              1.4

            	
               “Merchandising Rights”
      means and refers to those rights required for manufacture, sale and
      distribution of all merchandise including but not limited to brochures,
      comics, cartoons, posters, programmes, toys, games, electronic media
      products now known or unknown (including but not limited to interactive
      games, programmes for Internet or mobile phones, Internet and mobile
      phones downloadables) (“Electronic Media
      Products”), novelties, combined packages of books, records,
      fabrics, apparel, food, drinks and other goods and other premiums
      promotions and commercial tie-ins featuring, containing or consisting of
      the names, characters, items, symbols, trademarks, designs, logos,
      Licensees and catch-phrases, likenesses and visual representations of the
      literary and/or artistic characters created, described or portrayed in the
      WORK.

            

    

    

    
      	
               
      

            	
              1.5

            	
              “Home
      Video/DVD” means and refers to copies of programs on tape,
      disc, cassette, laser disc, CD-ROM, DVD or any other similar format
      manufactured and intended primarily for private, in-home exhibition, and
      to the selling, rental and location of such copies on all possible carrier
      materials currently known or developed in the
  future.

            

    

    

    
      	
               
      

            	
              1.6

            	 	
              “Distribution” means and
      refers to any and all activities related to the commercial release of the
      Film and products
      derived therefrom, including the sale, the location and distribution
      thereof by any and all means currently known or developed in the future,
      including electronic distribution.

            

    

    

    
      	
              1.7

            	
              “Broadcast” means and
      refers to communication to the public by telecommunication of the Film
      including transmission and retransmission thereof via any television
      distribution system or by cable, satellite and any other means currently
      know or developed in the future, including broadcasting via Internet and
      mobile telephones.

            

    

    

    
      	
              2.

            	
              EXCLUSIVE GENERAL
      LICENSE

            

    

    

    
      	
              2.1

            	
              Object - Subject to
      the terms and conditions of this Agreement, the Licensor hereby grants to
      Licensee the world-wide and exclusive licence to use the WORK and to
      authorize the use thereof for and in connection with the following
      purposes:

            

    

    

    
      	
               
      

            	
              2.1.1

            	
              the writing, production,
      publication, broadcast, distribution, public performance and promotion of
      the Film throughout the world in all languages and in all distribution
      markets, including but not limiting to Television, Home Video/DVD,
      non-theatrical and theatrical
markets.

            

    

    

    
      	
               
      

            	
              2.1.2

            	
              the
      exercise of all Merchandising Rights in respect of the Film and the exercise of
      all so-called "commercial tie-up" rights (as this expressions is used in
      the Film and television industry) in respect of the WORK, which include
      without limitation all rights required for the manufacture, sale and other
      exploitation of whatsoever nature of goods, souvenirs, products,
      facilities and commodities of all kinds reproducing, depicting, making
      reference to or based on or decorated with the title, characters, scenes
      and incidents of or articles appearing in the WORK or in the Film; (Hereinafter
      referred to as “GENERAL
      LICENCE”).

            

    
      	
              2.2

            	
              Term - Subject to
      provisions of article 2.3 below and to the
      other terms and conditions of this Agreement,  the GENERAL
      LICENSE granted hereunder shall vest in Licensee upon execution of this
      Agreement without any term
restrictions.

            

    

     

     

    
      
         

      

      
         

        
          

        

      

       

      
         

      

    

    
      	
              2.3

            	
              Conditions of use - The
      GENERAL LICENSE is deemed subject to the execution of the following
      conditions:

            

    

    

    2.3.1                   Gary
Rasmussen will be an Associate Producer for the duration of the
Film.

    

    2.3.2                   Subject
to the provisions of the Agreement, Licensee shall accord the following credit
on the negative of the Film and on all positive copies of the Film made or
issued by Licensee in the opening credits in the words "Original concept Global Entertainment Holdings,
Inc." and “Associate Producer Gary Rasmussen” and in all advertising and
paid publicity issued by or under the immediate control of Licensee other than
teaser trailers list group and advertising of eight column inches or less in
size and other than special advertising or publicity relating to the screenplay
upon which the Film is based or to commercial tie ups and other radio or
television advertising or publicity written in narrative form PROVIDED ALWAYS
that Licensee shall not be liable for any failure or default by any third party
concerned in the exploitation of the Film in giving such credit nor for any
accidental breach of its obligations under this sub-clause (but Licensee will
use all reasonable endeavours to remedy any such accidental breach by it of
which notice is given to it if such remedy is possible and all reasonable
endeavours to obtain the remedy of a remediable breach by a third party) and the
rights and remedies (if any) of Licensee or of the Licensor in the event of
breach of this sub-clause shall be limited to Licensee or to the Licensor's
right (if any) to recover damages in an action at law and in no event shall be
entitled by reason of any such breach to enjoin or restrain the distribution
exhibition or other exploitation of the Film.

    

    
      	
              3.

            	
              COMPENSATION

            

    

    

    
      	
              3.1

            	
              Subject
      to financing of the Film, Licensee agrees to pay to the Licensor as
      all-inclusive remuneration and as consideration in full for all rights
      granted or to be granted hereunder, the following compensation: (i) a sum
      of CA$150,000, and (ii) revenue representing 50% of the share of Licensee
      in the Net Receipts of the Film. For the purposes of this Agreement, the
      term “Gross
      Receipts” shall mean all monies (including all amounts from
      advances, guarantees, security deposits and awards) received by Licensee
      (or its wholly owned subsidiary created for the sole purpose of producing
      the Film) or distributors from the lease, sub-license, sale, rental,
      barter, distribution, broadcast, exhibition, performance, exploitation or
      other exercise of each licensed right in the Film all without deductions,
      (where such deductions shall include but not be limited to any withholding
      or other taxes paid or deducted at source) throughout the
      Universe.  These amounts exclude presales, advances, and minimum
      guarantees, as well as third party investments or other instruments used
      to produce the Film.

            

    

    

    
      	
               
      

            	
              For
      the purpose of this Agreement, the term “Net Receipts” shall mean
      Gross Receipts less reasonable distribution commissions, distribution
      expenses and residual royalties, if
any.

            

    

    

    

    4.           WARRANTIES
AND REPRESENTATIONS

    

    4.1           The
Licensor warrants represents and agrees that:

    

    
      	
               
      

            	
              4.1.1

            	
              the
      Licensor has full authority, power and right to enter into this Agreement,
      and to fully perform all of Licensor’s obligations
    hereunder;

            

    

    

    
      	
               
      

            	
              4.1.2

            	
              the
      Licensor has and will have no contract, grant or deed with any other
      person or entity which might conflict with, impair or be inconsistent with
      any of the provisions of this
Agreement;

            

    

    

    
      	
               
      

            	
              4.1.3

            	
              neither
      this Agreement nor the fulfillment thereof by any part infringes upon the
      rights of any person;

            

    

    

    
      	
               
      

            	
              4.1.4

            	
              the
      WORK does not or will not violate or infringe upon the copyright, moral
      rights and other property rights of any person or
  entity;

            

    

    

    
      	
               
      

            	
              4.1.5

            	
              there
      are no rights, licenses or grants of any nature in favor of anyone, which
      would impair or infringe upon the rights herein granted to
      Licensee.

            

    

    

    
      	
              5.

            	
              REMAKES,
      ETC.

            

    

    

    5.1           Licensor
hereby grants Licensee the Right of First Negotiation and the Right of
LastRefusal to participate in the production of any remake, sequel, follow-up,
prequeland spin-off rights (collectively "Other Productions") in and to
the Film and theWORK
produced by Licensee (or any of its assignee’s or licensees of rights in and to
the Other Productions), where:

    

    5.1.1           “Remake”
or “spin-off”, refers to the right to adapt or reproduce or represent at a
latertime the Film, to
adapt the Film creating
a new movie in animation or live action orTV series or Electronic Media Products
constituting a new version of the Film which version deals with
the same themes, characters, scripts and dialogue;

    

    5.1.2           “Sequel”
or “follow-up”, refers to the rights to adapt, reproduce and represent at a
latertime the Film, to
adapt  the Film creating a new movie in
animation or live action orTV Series or Electronic Media Products forming a new
version of the Film
which version deals with the elements of the Film such as the title,
principal themes, certain characters, situations, scripts and dialogue. The
right to a follow-up includes the right to create a new movie or pre-production
elements from the Film
which can be exploited commercially independently from the Film, including in Videogram
format, and in television format in certain countries;

    

    5.1.3           “Prequel”
refers to the right to adapt, reproduce, or represent the Film through newproduction
forming a new version of the Film creating a new movie in
animation or liveaction or TV series or Electronic Media Products which version
deals with the elements of the Film such as the title,
principal themes, certain characters, situations, scripts and dialogue, but
whereby the action is set in a time prior to that of the Film.

    

    5.2           The
Parties shall negotiate in good faith the terms and conditions of the remake,
sequel,follow-up, prequel and spin-off rights in relation to the Right of First
Negotiation and theRight of Last Refusal above mentioned.

    

    
      	
              6.

            	
              BANKRUPTCY

            

    

    

    
      	
              6.1

            	
              In
      the event of the liquidation of Licensee’s assets, or the filing of a
      petition in bankruptcy or insolvency or for an arrangement or
      reorganization by, for or against Licensee, or in the event of the
      appointment of a receiver or a trustee for all or a portion of Licensee’s
      property, or if Licensee shall make an assignment for the benefit of
      creditors, or commits any act for or in bankruptcy, or become insolvent,
      the Licensor shall have the option by written notice to Licensee to
      terminate this Agreement.

            

    

     

    
      
         

      

      
         

        
          

        

      

       

      
         

      

    

    
      	
              6.2

            	
              It
      is expressly agreed and understood between and by the parties that,
      notwithstanding the termination of this Agreement under paragraph 6.1
    above:

            

    

    

    
      	
               
      

            	
              6.2.1

            	
              all
      rights and interests granted to or acquired by Licensee hereunder in and
      to the Film and Merchandising Rights project made on the date of
      termination, shall not be affected and shall remain in full force and
      effect.

            

    

    

    
      	
              7.

            	
              TRANSFER

            

    

    

    
      	
              7.1

            	
              Save
      and except for any transfer or assignment of rights to a parent or
      affiliate company of Licensee, which transfer or assignment can take place
      without the prior written agreement of the Licensor, Licensee shall not
      assign nor transfer this Agreement and any of of its rights and
      obligations hereunder, at any time and from time to time, in whole or in
      part, without having first obtained for each projected transfer written
      approval from the Licensor, which approval shall not be unreasonably
      withheld.

            

    

    

    8.           DEFAULT

    

    
      	
              8.1

            	
              Should
      Licensee fail to perform any of its obligations hereunder, the Licensor
      shall be at liberty to terminate this Agreement provided, however,
      that:

            

    

    

    
      	
               
      

            	
              8.1.1

            	
              the
      Licensor shall advise Licensee in writing of the specific facts upon which
      it is claimed that Licensee is in
default;

            

    

    

    
      	
               
      

            	
              8.1.2

            	
              Licensee
      shall be allowed a period of thirty (30) days after the receipt of such
      written notice within which to cure such
  default;

            

    

    

    
      	
               
      

            	
              8.1.3

            	
              if
      Licensee fails to cure the same within such thirty (30) day period, this
      Agreement shall terminate and be deemed terminated upon the expiration
      thereof.

            

    

    

    
      	
              8.2

            	
              It
      is expressly agreed and understood between and by the parties that,
      notwithstanding the termination of this Agreement under paragraph 8.1
    above:

            

    

    

    
      	
               
      

            	
              8.2.1

            	
              all
      rights and interests granted to or acquired by Licensee hereunder in and
      to the Film and Merchandising Rights project made on the date of
      termination, shall not be affected and shall remain in full force and
      effect;

            

    

    

    
      	
               
      

            	
              8.2.2

            	
              all
      rights and interests granted to or acquired by Licensee hereunder in and
      to the WORK, including any and all rights and interests granted to or
      acquired by Licensee to the Film and Merchandising
      Rights project derived from the WORK and the Film, shall revert
      and be deemed
      reverted to the Licensor upon termination of this Agreement. subject,
      however, to the following
conditions:

            

    

    

    
      	
               
      

            	
              a)

            	
              the
      Licensor shall be deemed substituted to Licensee in and for the conduct of
      the licenses referred to 8.2.2;

            

    

    

    
      	
               
      

            	
              b)

            	
              the
      reversion of rights referred to above shall be subject to the undertaking
      and observance by the Licensor of Licensee’s obligations under these
      licenses;

            

    

    

    
      	
               
      

            	
              c)

            	
              any
      and all payments made by Licensee to the Licensor before the termination
      of this Agreement shall remain valid and subject to no reimbursement by
      the Licensor.

            

    

    

    
      	
              9.

            	
              NOTICES

            

    

    

    
      	
              9.1

            	
              Any
      notice, demand, request, accounting, con­sent or communication
      requi­red or contemplated by any provision of this Agreement is to be
      given either by hand or by messenger, or by prepaid registered mail, or by
      an internationally recognized overnight courrier service (such as Federal
      Express, etc.), or by telecopier, provided such communication is evidenced
      by confirmation of receipt, at the following addresses and
      numbers:

            

    

    

    
      	
              9.1.1

            	
              to the
      Licensor:

            	
              at
      the above mentioned address

            

    

    
      	
               
      

            	
              Fax:
      (818) 827-0900

            

    

    

    
      	
              9.1.2

            	
              to the
      Licensee:

            	
              at
      the above mentioned address

            

    

    
      	
               
      

            	
               Fax:
      [◘]

            

    

    

    or at such other address or addresses
and number(s) as the parties may from time to time designate pursuant to the
provisions of article 9.1.

    

    
      	
              10.

            	
              GENERAL
      PROVISIONS

            

    

    

    
      	
              10.1

            	
              This
      Agreement (including Schedule attached thereto) contains the entire
      agree­ment between the parties with respect to the transactions
      contemplated herein and supersedes all prior or contempora­neous
      negotiations, agree­ments and understandings, if any. No amendment to
      this Agreement may be made unless in writing and signed by the parties or
      their agents.

            

    

    

    
      	
              10.2

            	
              This
      Agreement and the interpretation and enforcement thereof shall be governed
      by and in accor­dance with the laws of the Province of New
      Brunswick.

            

    

    

    
      	
              10.3

            	
              The
      insertion of titles are for convenience only and do not affect the meaning
      of the interpretation of this
Agreement.

            

    

    

    
      	
              10.4

            	
              Where
      required by the context hereof, the singular shall include the plural and
      the masculine gender shall include the feminine or neuter gender, as the
      case may be, and vice versa.

            

    

    

    
      	
              10.5

            	
              Nothing
      contained in this Agreement shall be construed so as to require the
      commission of any act contrary to law, and if any provision of this
      Agreement is held to be invalid or illegal under any material statute,
      law, ordinance, order or regulation, in any jurisdiction, such provision
      shall be curtailed and limited only to the extent necessary to bring it
      within the legal requirements of such jurisdiction and such curtailment or
      limitation shall not affect the validity of the remainder of this
      Agreement or any other provisions hereof in that, or any other,
      jurisdiction.

            

    

    

    
      	
              10.6

            	
              This
      Agreement shall not be construed as constituting a co-production, a
      partnership or joint venture between the parties or make either party an
      agent of the other party.  Each party hereto will not hold
      itself out as an agent of the other party and neither of the parties shall
      be or become liable or bound by any representation, act, omission or
      agreement whatsoever of the other party
hereto.

            

    

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    This
Agreement has been executed in two (2) counterparts, each counterpart shall be
deemed an original, but all of which together constitute one and the same
instrument.

    

    IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be executed in Maugerville, New
Brunswick, this 22nd day of
September 2008.

     

     

    
 

                                                                                                                 

       

      
        	 Global
      Entertainment Holdings,
    Inc.     	  Global Universal
      Pictures, Inc.
	 By:  ___________________________   	   By:  ___________________________
	 Gary
      Rasmussen        	 Jacqueline
      Giroux

      

       

    

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
"A"

    to the
EXCLUSIVE LICENSE
AGREEMENT

    executed
as of this 22nd day of
September, 2008

    

    LOG
LINE:  A middle aged music composer finds himself trapped in the
seductive web of a young, sexy vocalist who is looking for her own fifteen
seconds of fame.

    

    Mikey
Taylor, once the very popular lead singer of  the hot rock and roll
group,  THE SAINTS ,  lived a life
of  sex,  drugs and rock and roll, until he met
JOYCE,  a real estate broker, now his wife of ten
years.   Joyce was instrumental in sobering Mike up through
various rehabs, and always supportive, but then the real estate market took a
dive, and Mike had to go back to writing songs for a new record album deal with
his former partners STANLEY and DICKIE.

    

    Mikey,
now known as MIKE TAYLOR, is in the Studio waiting to lay down the new tracks,
when MATTY MCPHERSON, strikingly young and beautiful, introduces herself as the
new demo singer.  As she begins to sing, there is an immediate
attraction between Mike and Matty, who is not only gorgeous and young, but a
brilliant artist.

    

    Matty
follows Mike back to his hotel and seduces him, which is reminiscent
of  his  exciting “groupie”  rock and roll
days.  He immediately becomes smitten with the very young and
beautiful Matty, but tells himself this affair will pass as soon as the album is
finished.   The problem is, Mike can not finish the album without
Matty, who truly inspires him, but who also leads him back down the road of
destruction by encouraging him to relive his days of alcohol, drugs and sex
abuse.  Matty tells Mike she is his new addiction and convinces him he
cannot succeed without her.

    

    As weeks
go by, Mike is filled with the expected guilt of a cheating husband, but the
more he tries to get away from Matty, the more she tempts him back with a new
song she has written.  To celebrate, she offers more booze, drugs and
erotic sex;  taking  Mike deeper into the dark side: closer
to Matty but further from Joyce.

    

    Mike’s
friends encourage him to go to the police, citing she is a stalker who is out to
destroy him, but when he tries, the police take Matty’s side, who convinces the
police she is pregnant with Mike’s child.  To retaliate Matty kidnaps
Joyce, and invites Mike to “save Joyce, or succumb to me”.

    

    Will Mike
be able to save Joyce from the evil web of Matty, or succumb to his addiction as
he has so many times before with the beautiful Matty?

    The
ending is a shocker.

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