Document:

ex101.htm

Exhibit 10.1

 

Note and Warrant Amendment

This Note and Warrant Amendment (“Amendment”) is made and entered into as of November 15, 2011, by and among The Brainy Brands Company, Inc., a Delaware corporation (the “Company”), and the parties identified on the signature page hereto (“Subscribers”).  Capitalized terms used but not defined herein will have the meanings assigned to them in the Subscription Agreements (as defined below).

WHEREAS, the Company and Subscribers entered into Subscription Agreements dated as of November 24, 2010,  April 18, 2011, and August 11, 2011 (“August Offering”) (each a “Subscription Agreement”);

WHEREAS, pursuant to the Subscription Agreements, the Company issued to the Subscribers secured convertible promissory notes (“Notes”) and Warrants (the “Warrants”);

WHEREAS, in connection with the Second Closing of the August Offering, the Conversion Price of the Notes was reduced to $0.20 and the Purchase Price for each Warrant Share was reduced to $0.20; and

WHEREAS, the Company desires to reduce the reduce the Conversion Price of the Notes to $0.08 and the Purchase Price of the Warrant Shares to $0.08;

NOW, THEREFORE, the Company and the Subscribers hereby agree as follows:

1.           Definitions.  Capitalized terms used and not otherwise defined herein that are defined in the Subscription Agreements shall have the meanings given to such terms in the Subscription Agreements.

2.           Reduction of Conversion Price and Purchase Price. The Conversion Price of the Notes and the Purchase Price of the Warrant Shares is hereby reduced to $0.08, subject to further adjustment as set forth in the Notes and the Warrants.

3.           Full Force and Effect.   Except as expressly set forth herein, this Amendment shall not be deemed to be a waiver, amendment or modification of any provisions of the Transaction Documents or of any right, power or remedy of the Subscribers, or constitute a waiver of any provision of the Transaction Documents (except to the extent herein set forth), or any other document, instrument and/or agreement executed or delivered in connection therewith and any other agreement to which the Subscribers may be parties to, in each case whether arising before or after the date hereof or as a result of performance hereunder or thereunder.  Except as set forth herein, the Subscribers reserve all rights, remedies, powers, or privileges available under the Transaction Documents and any other agreement to which the Subscribers may be parties to, at law or otherwise.  This Amendment shall not constitute a novation or satisfaction and accord of the Transaction Documents or any other document, instrument and/or agreement executed or delivered in connection therewith and any other agreement to which the Subscribers may be parties to.  This Amendment shall be included in the definition of the Transaction Documents.

4.           Holding Period.  The Company acknowledges and agrees that the holding period of the Securities issued pursuant to the Transaction Documents for purposes of Rule 144 under the Securities Act of 1933 remains unaffected by the terms and transactions described in this Amendment, and is not reset or restarted in any way as a result of the terms and transactions described in this Amendment.

5.           Agreement.  Each of the undersigned states that he has read the foregoing Amendment and understands and agrees to it.

6.           Counterparts.  This Amendment may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to any other party, it being understood that all parties need not sign the same counterpart.  In the event that any signature is delivered electronically, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were an original thereof.

 

  

1

  

7.           Governing Law.  This Amendment will be governed by and interpreted in the same manner as the Transaction Documents.

8.           Amendments.  This Amendment and any term hereof may be changed, waived, discharged or terminated in the same manner as the Transaction Documents.

9.           Severability.   The invalidity or unenforceability of any provision hereof will in no way affect the validity or enforceability of any other provision.

[Signature page to follow]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

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IN WITNESS WHEREOF, the Company and the undersigned have caused this Amendment to be executed as of the date first written above.

 

	 	
THE BRAINY BRANDS COMPANY INC.

the “Company”

	 
	 	 	 	 
	 	
By: 

	/s/ John Benfield	 
	 	 	 	 

“SUBSCRIBERS”

	ALPHA CAPITAL ANSTALT     	 	WHALEHAVEN CAPITAL FUND LIMITED	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By: 	
/s/ Konrad Ackerman         

	 	By: 	
/s/ Eric Weisblum

	 
	 	
Name:  Konrad Ackerman  

	 	 	
Name:  Eric Weisblum

	 
	 	
Title:  Director

	 	 	
Title: 

	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $500,000 (11/24/10)    	 	 	Principal Amount of Notes held: $500,000 (11/24/10)	 
	 	Principal Amount of Notes held: $137,500 (4/18/11) 	 	 	Principal Amount of Notes held: $125,000 (4/18/11)	 
	 	Principal Amount of Notes held: $137,500 (5/20/11)	 	 	Principal Amount of Notes held: $125,000 (5/20/11)	 
	 	Principal Amount of Notes held: $72,800 (8/11/11)    	 	 	Principal Amount of Notes held: $65,000 (8/11/11)	 
	 	Principal Amount of Notes held: $75,000 (9/23/11)  	 	 	Principal Amount of Notes held: $25,000 (9/23/11)	 
	 	 	 	 	 	 

 

	FLM HOLDINGS LLC	 	FJD HOLDINGS LLC	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Samuel DelPresto   	 	By:	/s/ Frank D’Agostino Jr.	 
	 	Name: Samuel DelPresto     	 	 	Name: Frank D’Agostino Jr.	 
	 	Title: Managing Member   	 	 	Title: Managing Member	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $206,488.89 (11/24/10)                  	 	 	Principal Amount of Notes held: $250,000 (11/24/10)	 
	 	

Principal Amount of Notes held: $150,000 (4/18/11)

	 	 	 	 
	 	

Principal Amount of Notes held: $150,000 (5/20/11)

	 	 	 	 
	 	

Principal Amount of Notes held: $25,000 (9/23/11)

	 	 	 	 

 

	

BRILLIANT SINO INVESTMENT LIMITED

	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Andrew Lee	 	 	 	 
	 	Name:  Andrew Lee	 	 	 	 
	 	Title: Director	 	 	 	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $300,000 (5/5/11)	 	 	 	 
	 	

Principal Amount of Notes held: $10,000 (9/23/11)

	 	 	 	 

 

 

3

 

 

	BRIO CAPITAL L.P.   	 	EDWARD KARR	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Shaye Hirsch    	 	 	/s/ Edward Karr	 
	 	Name: Shaye Hirsch	 	 	 	 
	 	Title: Managing Partner	 	 	 	 
	 	 	 	 	 	 
	 	

Principal Amount of Notes held: $150,000 (11/24/10)

	 	 	Principal Amount of Notes held: $100,000 (11/24/10)	 
	 	

Principal Amount of Notes held: $37,500 (4/18/11)

	 	 	Principal Amount of Notes held: $10,000 (9/23/11)	 
	 	

Principal Amount of Notes held: $37,500 (5/20/11)

	 	 	 	 
	 	

Principal Amount of Notes held: $20,800 (8/11/11)

	 	 	 	 
	 	

Principal Amount of Notes held: $10,000 (9/23/11)

	 	 	 	 

 

	ADVENTURE VENTURES LLC   	 	OSHER CAPITAL PARTNERS LLC	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Ari Kluger      	 	By:	/s/ Ari Kluger	 
	 	Name:    	 	 	 	 
	 	Title: 	 	 	 	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $125,000 (11/24/10) 	 	 	Principal Amount of Notes held: $125,000 (11/24/10)	 
	 	

Principal Amount of Notes held: $36,400 (8/11/11)

	 	 	Principal Amount of Notes held: $62,500 (4/18/11)	 
	 	 	 	 	Principal Amount of Notes held: $62,500 (5/20/11)	 

 

	MAIELLA INVESTMENT HOLDINGS LLC	 	BRISTOL INVESTMENT FUND, LTD.	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Gerard Adams          	 	By:	/s/ Paul Kessler	 
	 	Name:  Gerard Adams 	 	 	Name: Paul Kessler	 
	 	Title: 	 	 	Title: Director	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $150,000 (11/24/10)   	 	 	Principal Amount of Notes held: $280,000 (11/24/10)	 
	 	 	 	 	Principal Amount of Notes held: $50,000 (4/18/11)	 
	 	 	 	 	Principal Amount of Notes held: $50,000 (5/20/11)	 
	 	 	 	 	Principal Amount of Notes held: $25,000 (8/11/11)	 
	 	 	 	 	Principal Amount of Notes held: $25,000 (9/23/11)	 

 

	
BRISTOL CAPITAL ADISORS    

PROFIT SHARING PLAN

	 	BRISTOL CAPITAL, LLC	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Gerard Adams          	 	By:	/s/ Paul Kessler	 
	 	Name:  Gerard Adams 	 	 	Name: Paul Kessler	 
	 	Title: Authorized Signatory   	 	 	Title:  Manager	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $40,000 (11/24/10)   	 	 	Principal Amount of Notes held: $80,000 (11/24/10)	 
	 	 	 	 	Principal Amount of Notes held: $50,000 (4/18/11)	 
	 	 	 	 	Principal Amount of Notes held: $50,000 (5/20/11)	 

 

	
BRISTOL CAPITAL ADISORS    

PROFIT SHARING PLAN

	 	BRISTOL CAPITAL, LLC	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Gerard Adams          	 	By:	/s/ Paul Kessler	 
	 	Name:  Gerard Adams 	 	 	Name: Paul Kessler	 
	 	Title: Authorized Signatory   	 	 	Title:  Manager	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $40,000 (11/24/10)   	 	 	Principal Amount of Notes held: $80,000 (11/24/10)	 
	 	 	 	 	Principal Amount of Notes held: $50,000 (4/18/11)	 
	 	 	 	 	Principal Amount of Notes held: $50,000 (5/20/11)	 

 

 

4

 

 

	
WHALEHAVEN OPPORTUNITIES FUND L.P.    

	 	AMPERSAND MANAGEMENT AS TRUSTEE OF THE MUNT TRUST	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Eric Weisblum            	 	By:	/s/ Jean Paul Le Coeq/Isabelle Spaeth	 
	 	Name:  Eric Weisblum	 	 	Name: Jean Paul Le Coeq/Isabelle Spaeth	 
	 	Title: Partner	 	 	Title: Authorized Signatories	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $25,000 (4/18/11)	 	 	Principal Amount of Notes held: $25,000 (4/18/11)	 
	 	Principal Amount of Notes held: $25,000 (5/20/11)	 	 	principal Amount of Notes held: $25,000 (5/20/11)	 

 

	
CANYONS TRUST

	 	PARK INVESTMENT HOLDINGS, LLC	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ James F. Heekin Jr.           	 	By:	/s/ Steven Spiegel	 
	 	Name: James F. Heekin Jr.  	 	 	Name: Steven Spiegel	 
	 	Title: Its Trustee    	 	 	Title: 	 
	 	 	 	 	 	 
	 	Principal Amount of Notes held: $50,000 (4/18/11)	 	 	Principal Amount of Notes held: $37,500 (4/18/11)	 
	 	Principal Amount of Notes held: $25,000 (5/20/11)	 	 	principal Amount of Notes held: $37,500 (5/20/11)	 

The Company represents and acknowledges that the Subscribers whose signatures are appended to this Amendment constitute a Majority in Interest.

 

 

	 	

THE BRAINY BRANDS COMPANY INC.

the “Company”

	 
	 	 	 	 
	
 

	 	/s/ John Benfield	 
	 	 	By: John Benfield	 
	 	 	 	 

 

 

 

 

 

 

5ex102.htm

Exhibit 10.2

 

Fourth Consent and Waiver Agreement

This Fourth Consent and Waiver Agreement (“Agreement”) is made and entered into as of November 15, 2011, by and among The Brainy Brands Company, Inc., a Delaware corporation (the “Company”), and the parties identified on the signature page hereto (“Subscribers”).  Capitalized terms used but not defined herein will have the meanings assigned to them in the Subscription Agreements (as defined below).

WHEREAS, the Company and Subscribers entered into Subscription Agreements dated as of November 24, 2010, April 18, 2011, and August 11, 2011 (“August Offering”) (each a “Subscription Agreement”); and

WHEREAS, pursuant to the Subscription Agreements, the Company issued to the Subscribers secured convertible promissory notes (“Notes”) and Warrants (the “Warrants”);

WHEREAS, under that certain Third Consent and Waiver Agreement between the Company and the parties identified on the signature pages thereto (the “Third Consent and Waiver”), entered into in connection with the Second Closing under the August Offering, the Company agreed to use its best efforts to obtain an increase in the amount of authorized Common Stock (the “Increase”) to 500,000,000 shares, not later than December 1, 2011.

WHEREAS, pursuant to the Third Consent and Waiver, failure to effectuate the Increase on or before December 1, 2011 is an Event of Default under the Notes;

WHEREAS, pursuant to that certain Amendment to Note and Warrant between the Company and the parties identified on the signature pages thereto, the Conversion Price of the Notes and the Purchase Price of the Warrant Shares has been reduced to $0.08  (the “Conversion and Purchase Price Reduction”);

WHEREAS, the Subscribers desire to (i) waive the requirement for the Company to effectuate the Increase, (ii) consent to the Company effecting a 10-to-1 reverse split of its common stock by April 1, 2012,  (iii) waive the last sentence of Section 3.3 of all of the Warrants issued pursuant to the Subscription Agreements entered into on November 24, 2010 and April 18, 2011 (the “November 2010 and April 2011 Subscription Agreement Warrants”), with respect to (a) the Conversion and Purchase Price Reduction, and (b) any future action taken by the Company, such that as of the date of this Agreement, the last sentence of Section 3.3 of the November 2010 and April 2011 Subscription Agreement Warrants will be deemed to have been removed, and (iv) waive the Company’s obligation to comply with Schedule 9(e) to the August Offering Subscription Agreement, such that the Company’s use of proceeds from the August Offering (including the Initial Closing and the Second Closing) will be in the Company’s sole discretion;

NOW, THEREFORE, the Company and the Subscribers hereby agree as follows:

1.           Definitions.  Capitalized terms used and not otherwise defined herein that are defined in the Subscription Agreements shall have the meanings given to such terms in the Subscription Agreements.

2.           Waiver of Increase. The Majority in Interest hereby waive the requirement that the Company effectuate the Increase.

3.           Reverse Split. The Company shall use its best efforts to effect a 10-to-1 reverse split of its common stock by April 1, 2012 (the “Reverse Split”).  The Majority in Interest hereby consent to the Reverse Split.

4.           Waiver of November 2010 and April 2011 Subscription Agreement Warrant Exploding Feature. The Majority in Interest knowingly waive the application of the last sentence of Section 3.3 of each of the November 2010 and April 2011 Subscription Agreement Warrants, with respect to (i) the Conversion and Purchase Price Reduction, and (ii) any future action taken by the Company, such that, as of the date of this Agreement, the last sentence of Section 3.3 of the November 2010 and April 2011 Subscription Agreement Warrants  will be deemed to have been removed, and there will be no further adjustment of the number of Warrant Shares that may be purchased upon full exercise of each of such November 2010 and April 2011 Subscription Agreement Warrants, as a result of (a) the Conversion and Purchase Price Reduction, or (b) any future action by the Company.

 

 

  

1

  

 

5,           Waiver of Schedule 9(e) to August Offering Subscription Agreement. The Majority in Interest hereby waive the Company’s obligation to comply with Schedule 9(e) to the August Offering Subscription Agreement, such that the Company’s use of proceeds from the August Offering (including the Initial Closing and the Second Closing) will be in the Company’s sole discretion.

6.           Full Force and Effect.   Except as expressly set forth herein, this Agreement shall not be deemed to be a waiver, amendment or modification of any provisions of the Transaction Documents or of any right, power or remedy of the Subscribers, or constitute a waiver of any provision of the Transaction Documents (except to the extent herein set forth), or any other document, instrument and/or agreement executed or delivered in connection therewith and any other agreement to which the Subscribers may be parties to, in each case whether arising before or after the date hereof or as a result of performance hereunder or thereunder.  Except as set forth herein, the Subscribers reserve all rights, remedies, powers, or privileges available under the Transaction Documents and any other agreement to which the Subscribers may be parties to, at law or otherwise.  This Agreement shall not constitute a novation or satisfaction and accord of the Transaction Documents or any other document, instrument and/or agreement executed or delivered in connection therewith and any other agreement to which the Subscribers may be parties to.  This Agreement shall be included in the definition of the Transaction Documents.

7.           Holding Period.  The Company acknowledges and agrees that the holding period of the Securities issued pursuant to the Transaction Documents for purposes of Rule 144 under the Securities Act of 1933 remains unaffected by the terms and transactions described in this Agreement, and is not reset or restarted in any way as a result of the terms and transactions described in this Agreement.

8.           Agreement.  Each of the undersigned states that he has read the foregoing Agreement and understands and agrees to it.

9.           Counterparts.  This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to any other party, it being understood that all parties need not sign the same counterpart.  In the event that any signature is delivered electronically, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were an original thereof.

10.           Governing Law.  This Agreement will be governed by and interpreted in the same manner as the Transaction Documents.

11.           Amendments.  This Agreement and any term hereof may be changed, waived, discharged or terminated in the same manner as the Transaction Documents.

12.           Severability.   The invalidity or unenforceability of any provision hereof will in no way affect the validity or enforceability of any other provision.

[Signature page to follow]

 

 

 

  

2

  

 

IN WITNESS WHEREOF, the Company and the undersigned have caused this Agreement to be executed as of the date first written above.

 

	 	
THE BRAINY BRANDS COMPANY INC.

	 
	 	the “Company”	 
	 	 	 	 
	
 

	
By: 

	/s/ John Benfield	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

 

“SUBSCRIBERS”

	ALPHA CAPITAL ANSTALT	 	WHALEHAVEN CAPITAL FUND LIMITED
	 	  	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	By:  	
/s/ Konrad Ackerman

	 	By: 	
/s/ Eric Weisblum

	 	
Name: Konrad Ackerman

	 	 	
Name: Eric Weisblum

	 	
Title:  Director

	 	 	
Title:

	 	
Principal Amount of Notes held: $500,000 (11/24/10)

	 	 	
Principal Amount of Notes held: $500,000 (11/24/10)

	 	
Principal Amount of Notes held: $137,500 (4/18/11)

	 	 	
Principal Amount of Notes held: $125,000 (4/18/11)

	 	
Principal Amount of Notes held: $137,500 (5/20/11)

	 	 	
Principal Amount of Notes held: $125,000 (5/20/11)

	 	
Principal Amount of Notes held: $72,800 (8/11/11)

	 	 	
Principal Amount of Notes held: $65,000 (8/11/11)

	 	
Principal Amount of Notes held: $75,000 (9/23/11)

	 	 	
Principal Amount of Notes held: $25,000 (9/23/11)

	 	  	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	 	
FLM HOLDINGS LLC

	 	FJD HOLDINGS LLC
	 	  	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	By:  	
/s/ Samuel DelPresto

	 	By: 	/s/ Frank D’Agostino Jr
	 	
Name: Samuel DelPresto

	 	 	
Name: Frank D’Agostino Jr.

	 	
Title: Managing Member

	 	 	
Title: Managing Member

	 	
Principal Amount of Notes held: $206,488.89 (11/24/10)

	 	 	
Principal Amount of Notes held: $250,000 (11/24/10)

	 	
Principal Amount of Notes held: $150,000 (4/18/11)

	 	 	  
	 	
Principal Amount of Notes held: $150,000 (5/20/11)

	 	 	  
	 	
Principal Amount of Notes held: $25,000 (9/23/11)

	 	 	  

BRILLIANT SINO INVESTMENT LIMITED

By:  /s/ Andrew Lee

Name:  Andrew Lee

Title: Director

Principal Amount of Notes held: $300,000 (5/5/11)

Principal Amount of Notes held: $10,000 (9/23/11)

 

 

  

3

  

 

	BRIO CAPITAL L.P.	 	EDWARD KARR
	 	  	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	By:  	
/s/ Shaye Hirsch

	 	By:	
/s/ Edward Karr

	 	
Name: Shaye Hirsch

	 	 	

Principal Amount of Notes held: $100,000 (11/24/10)

	 	
Title: Managing Partner

	 	 	
Principal Amount of Notes held: $10,000 (9/23/11)

	 	
Principal Amount of Notes held: $150,000 (11/24/10)

	 	 	  
	 	
Principal Amount of Notes held: $37,500 (4/18/11)

	 	 	  
	 	
Principal Amount of Notes held: $37,500 (5/20/11)

	 	 	  
	 	
Principal Amount of Notes held: $20,800 (8/11/11)

	 	 	  
	 	
Principal Amount of Notes held: $10,000 (9/23/11)

	 	 	  
	 	  	 	 	  
	ADVENTURE VENTURES LLC	 	OSHER CAPITAL PARTNERS LLC
	 	  	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	By:  	
/s Ari Kluger

	 	By:   	
/s Ari Kluger

	 	
Name:

	 	 	
Name:

	 	
Title:

	 	 	
Title:

	 	
Principal Amount of Notes held: $125,000 (11/24/10)

	 	 	
Principal Amount of Notes held: $125,000 (11/24/10)

	 	
Principal Amount of Notes held: $36,400 (8/11/11)

	 	 	
Principal Amount of Notes held: $62,500 (4/18/11)

	 	  	 	 	
Principal Amount of Notes held: $62,500 (5/20/11)

	 	  	 	 	  
	 	  	 	 	  
	MAIELLA INVESTMENT HOLDINGS LLC	 	BRISTOL INVESTMENT FUND, LTD.
	 	  	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	By:  	
/s/ Gerard Adams

	 	By:  	
/s/ Paul Kessler

	 	
Name: Gerard Adams

	 	 	
Name: Paul Kessler

	 	
Title:

	 	 	
Title: Director

	 	
Principal Amount of Notes held: $150,000 (11/24/10)

	 	 	
Principal Amount of Notes held: $280,000 (11/24/10)

	 	 	 	 	
Principal Amount of Notes held: $50,000 (4/18/11)

	 	  	 	 	
Principal Amount of Notes held: $50,000 (5/20/11)

	 	  	 	 	
Principal Amount of Notes held: $25,000 (8/11/11)

	 	  	 	 	
Principal Amount of Notes held: $25,000 (9/23/11)

	 	  	 	 	  
	 	  	 	 	  
	BRISTOL CAPITAL ADISORS	 	BRISTOL CAPITAL, LLC
	PROFIT SHARING PLAN	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	By: 	
/s/ Paul Kessler

	 	By:	
Name:  Paul Kessler

	 	Name:Paul Kessler	 	 	
By:   /s/ Paul Kessler

	 	
Title: Authorized Signatory

	 	 	
Title:  Manager

	 	
Principal Amount of Notes held: $40,000 (11/24/10)

	 	 	
Principal Amount of Notes held: $80,000 (11/24/10)

	 	 	 	 	
Principal Amount of Notes held: $50,000 (4/18/11)

	 	  	 	 	
Principal Amount of Notes held: $50,000 (5/20/11)

 

 

  

4

  

 

 

	 	  	 	 	  
	WHALEHAVEN OPPORTUNITIES FUND L.P.	 	AMPERSAND MANAGEMENT AS TRUSTEE
	 	  	 	OF THE MUNT TRUST
	 	  	 	 	  
	 	  	 	 	  
	 	  	 	 	  
	By: 	
/s/ Eric Weisblum

	 	By:  	
/s/ Jean Paul Le Coeq/Isabelle Spaeth

	 	
Name: Eric Weisblum

	 	 	
Name: Jean Paul Le Coeq/Isabelle Spaeth

	 	
Title: Partner

	 	 	
Title: Authorized Signatories

	 	
Principal Amount of Notes held: $25,000 (4/18/11)

	 	 	
Principal Amount of Notes held: $25,000 (4/18/11)

	 	
Principal Amount of Notes held: $25,000 (5/20/11)

	 	 	
principal Amount of Notes held: $25,000 (5/20/11)

	 	  	 	 	  
	 	  	 	 	  
	CANYONS TRUST	 	PARK INVESTMENT HOLDINGS, LLC
	 	  	 	 	  
	 	  	 	 	  
	By:  	
/s/ James F. Heekin Jr.

	 	By:  	
/s/ Steven Spiegel

	 	
Name: James F. Heekin Jr.

	 	 	
Name: Steven Spiegel

	 	
Title: Its Trustee

	 	 	
Title:

	 	
Principal Amount of Notes held: $50,000 (4/18/11)

	 	 	
Principal Amount of Notes held: $37,500 (4/18/11)

	 	
Principal Amount of Notes held: $50,000 (5/20/11)

	 	 	
principal Amount of Notes held: $37,500 (5/20/11)

	 	  	 	 	  

 

    The Company represents and acknowledges that the Subscribers whose signatures are appended to this Agreement constitute a Majority in Interest.

 

	 	
THE BRAINY BRANDS COMPANY INC.

	 
	 	
the “Company”

	 
	 	 	 	 
	
 

	
 

	/s/ John Benfield	 
	 	 	
By: John Benfield

	 
	 	 	 	 
	 	 	 	 

 

 

5

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