Document:

Ecologic Transportation, Inc. - Exhibit 10.11 - Filed by newsfilecorp.com

	Prominence-Ecologic Agreement 	Confidential 

INDEPENDENT CONSULTING AGREEMENT 

This Independent Consulting Agreement (“Agreement”), effective
as of April 5, 2010, (“Effective Date”) is entered into by and between Ecologic
Transportation, Inc a publicly traded Nevada corporation (herein referred to as
the “Company”) headquartered at 1327 Ocean Avenue Suite B Santa Monica,
California 90401 and Prominence Capital, LLC (herein referred to as the
“Consultant”) a Colorado Limited Liability Company headquartered at 12835 East
Arapahoe Rd, Penthouse #850 Tower One Englewood, Colorado 80112. 

RECITALS 

WHEREAS, the Company is a fully reporting Nevada
corporation whose Common Stock trades on the NASDAQ OTCBB market under the
symbol EGCT and is interested in the services to be provided by the Consultant;
and 

WHEREAS, Company desires to engage the services of
Consultant to represent the Company in investors' communications and public
relations with existing shareholders, brokers, dealers and other investment
professionals as to the Company's current and proposed activities, and to
consult with management concerning such Company activities; 

NOW THEREFORE, in consideration of the promises and the
mutual covenants and agreements hereinafter set forth, the parties hereto
covenant and agree as follows: 

1.        Term of
Consultancy. Company hereby agrees to retain the Consultant to act in a
consulting capacity to the Company, and the Consultant hereby agrees to provide
services to the Company, once section 4 of this Agreement has been satisfied,
and ending one year (1) after the date herein.

2.        Duties of
Consultant. The Consultant agrees that it will generally provide the
following specified consulting services through the diligent commercial efforts
of its officers and employees during the term specified in Section 1, above.

            (a)
Consult with and assist the Company in developing and implementing appropriate
plans and means for presenting the Company and its business plans, strategy and
personnel to the financial community, establishing an image for the Company in
the financial community, and creating the foundation for subsequent financial
public relations efforts; 

            (b)
Introduce the Company to the financial community, including, but not limited to,
retail brokers, buy side and sell side institutional managers, portfolio
managers, analysts, and financial public relations professionals; 

            (c)
With the cooperation of the Company, maintain an awareness during the term of
this Agreement of the Company's plans, strategy and personnel, as they may
evolve 

	Strategic Advisor Agreement 	Page 1 	04-02-10 

 

	Prominence-Ecologic Agreement 	Confidential 

during such period, and consult and assist the Company in
communicating appropriate information regarding such plans, strategy and
personnel to the financial community; 

           (d)
Assist and consult the Company with respect to
its; 
                     (i)
relations with
shareholders, 
                     (ii)
relations with brokers, dealers, analysts and other investment professionals,
and

                       (iii)
  financial public relations generally;

            (e)
Perform the functions generally assigned to shareholder relations and public
relations departments in major corporations, including responding to telephone
and written inquiries (which may be referred to the Consultant by the Company);
preparing press releases for the Company with the Company's involvement and
approval of press releases, including the approval of Company counsel, reports
and other communications with or to shareholders, the investment community and
the general public; consulting with respect to the timing, form, distribution
and other matters related to such releases, reports and communications; and, at
the Company’s request and subject to the Company’s securing its own rights to
the use of its names, marks, and logos, consulting with respect to corporate
symbols, logos, names, the presentation of such symbols, logos and names, and
other matters relating to corporate image; 

            (f)
Upon and with the Company's direction and written approval, disseminate
information regarding the Company to shareholders, brokers, dealers, other
investment community professionals and the general investing public; 

            (g)
Upon and with the Company's direction, conduct meetings, in person or by
telephone, with brokers, dealers, analysts and other investment professionals to
communicate with them regarding the Company's plans, goals and activities, and
assist the Company in preparing for press conferences and other forums involving
the media, investment professionals and the general investment public; 

            (h)
At the Company's request, review business plans, strategies, mission statements
budgets, proposed transactions and other plans for the purpose of advising the
Company of the public relations implications thereof;

(i) Otherwise perform as the Company's
consultant for public relations and relations with financial professionals. 

3.        Allocation
  of Time and Energies. The Consultant hereby promises to perform and discharge
  faithfully the responsibilities which may be assigned to the Consultant from
  time to time by the officers and duly authorized representatives of the Company
  in connection with the conduct of its financial and public relations and communications
  activities, so long as such activities are in compliance with applicable securities
  laws and regulations. Consultant and staff shall diligently and thoroughly provide
  the consulting services required hereunder. Although no specific hours-per-day
  requirement will be required, Consultant and the Company agree that Consultant
  will perform the duties set 

	Strategic Advisor Agreement 	Page 2	04-02-10 

 

	Prominence-Ecologic Agreement 	Confidential 

forth herein above in a diligent and professional manner. It is
explicitly understood that neither the price of the Company’s Common stock, nor
the trading volume of the Company’s common stock hereunder measure Consultant’s
performance of its duties. It is also understood that the Company is entering
into this Agreement with Consultant, a limited liability company, and not any
individual member or employee thereof, and, as such, Consultant will not be
deemed to have breached this Agreement if any member, officer or director of the
Consultant leaves the firm or dies or becomes physically unable to perform any
meaningful activities during the term of the Agreement, provided the Consultant
otherwise performs its obligations under this Agreement. 

4.       
Remuneration. For undertaking this engagement and for other good and
valuable consideration, the Company agrees to award One Million restricted
shares of the Company’s Common Stock. Such award is to be issued within 10 days
of the effective date of this Agreement.

The Company understands and agrees that Consultant has
represented that it has foregone significant opportunities to accept this
engagement and that the Company derives substantial benefit from the execution
of this Agreement and the ability to announce its relationship with Consultant.
The Shares, therefore, constitute payment for Consultant’s agreement to consult
to the Company and are a nonrefundable retainer.

The Consultant understands that the retainer represented herein
the Agreement is for a period of two years of service. If the Consultant chooses
to not provide the services outlined in Section 2., a), b), c), d), e), f), g)
and h) before the end of the term of the Agreement as outlined in Section 1.
“Term of Consultancy” the Consultant will remit to Company on a pro rata basis
the Common stock represented by the time left on the Term of Consultancy
represented as eighty-three thousand three hundred and thirty three (83,333)
shares per month of Consultancy.

5.        Non-Assignability
of Services. Consultant’s services under this contract may be assigned by
Company to any entity with which Company merges or which acquires the Company or
substantially all of its assets wherein the Company becomes a minority
constituent of the combined Company. In the event of such merger or acquisition,
all compensation to Consultant herein under the schedules set forth herein shall
remain due and payable, and any compensation received by the Consultant may be
retained in the entirety by Consultant, all without any reduction or pro-rating
and shall be considered and remain fully paid and non-assessable.
Notwithstanding the non-assignability of Consultant’s services, Company shall
assure that in the event of any merger, acquisition, or similar change of form
of entity, that its successor entity shall agree to complete all obligations to
Consultant, including the provision and transfer of all compensation herein, and
the preservation of the value thereof consistent with the rights granted to
Consultant by Company herein. Consultant shall not assign its rights or delegate
its duties hereunder without the prior written consent of Company. 

6.        Expenses.
Consultant agrees to pay for all its own expenses (phone, travel, mailing,
faxing, labor, etc.), but not including extraordinary items (luncheons or
dinners 

	Strategic Advisor Agreement 	Page 3	04-02-10 

 

	Prominence-Ecologic Agreement 	Confidential 

to large groups of investment professionals, investor
conference calls, print advertisements in publications, etc.) which
extraordinary items shall be approved in advance by the Company in writing prior
to Company incurring an obligation for reimbursement. The Company agrees and
understands that Consultant will not be responsible for preparing or mailing due
diligence and/or investor packages concerning the Company, and that the Company
will have some means to prepare and mail out investor packages at the Company’s
expense.

7.       
Indemnification. The Company warrants and represents that all oral
communications, written documents or materials furnished to Consultant or the
public by the Company with respect to financial affairs, operations,
profitability and strategic planning of the Company are accurate in all material
respects and Consultant may rely upon the accuracy thereof without independent
investigation. The Company will protect, indemnify and hold harmless Consultant
against any claims or litigation including any damages, liability, cost and
reasonable attorney's fees as incurred with respect thereto resulting from
Consultant's communication or dissemination of any said information, documents
or materials excluding any such claims or litigation resulting from Consultant's
communication or dissemination of information not provided or authorized by the
Company. Consultant warrants and represents that all oral communications,
written documents, or materials furnished to third parties by Consultant,
originating with Consultant and to the extent not mirroring material furnished
by Company, shall be accurate in all material respects. Consultant will protect,
indemnify and hold harmless Company against any claims or litigation including
any damages, liability, cost and reasonable attorneys fees as incurred with
respect thereto resulting from any claims or litigation resulting from
Consultant’s communication or dissemination of information not provided or
authorized by the Company, or from Consultant’s negligence or misconduct. 

8.        Representations.
Consultant represents that it is not required to maintain any licenses and
registrations under federal or any state regulations necessary to perform the
services set forth herein. Consultant acknowledges that, to the best of its
knowledge, the performance of the services set forth under this Agreement will
not violate any rule or provision of any regulatory agency having jurisdiction
over Consultant. Consultant further acknowledges that it is not a securities
Broker Dealer or a registered investment advisor. Company acknowledges that,
to the best of its knowledge, that it has not violated any rule or provision of
any regulatory agency having jurisdiction over the Company. Company acknowledges
that, to the best of its knowledge, Company is not the subject of any
investigation, claim, decree or judgment involving any violation of the SEC or
securities laws. 

9.        Legal
Representation. Each of Company and Consultant represents that they have
consulted with independent legal counsel and/or tax, financial and business
advisors, to the extent that they deemed necessary. 

10.      Status as Independent
Contractor. Consultant's engagement pursuant to this Agreement shall be as
independent contractor, and not as an employee, officer or other 

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	Prominence-Ecologic Agreement 	Confidential 

agent of the Company. Neither party to this Agreement shall
represent or hold itself out to be the employer or employee of the other.
Consultant further acknowledges the consideration provided hereinabove is a
gross amount of consideration and that the Company will not withhold from such
consideration any amounts as to income taxes, social security payments or any
other payroll taxes. All such income taxes and other such payment shall be made
or provided for by Consultant and the Company shall have no responsibility or
duties regarding such matters. Neither the Company nor the Consultant possesses
the authority to bind each other in any agreements without the express written
consent of the entity to be bound. 

11.      Attorney's Fee. If any
legal action or any arbitration or other proceeding is brought for the
enforcement or interpretation of this Agreement, or because of an alleged
dispute, breach, default or misrepresentation in connection with or related to
this Agreement, the successful or prevailing party shall be entitled to recover
reasonable attorneys' fees and other costs in connection with that action or
proceeding, in addition to any other relief to which it or they may be entitled.

12. Waiver. The waiver by either party of a breach of
any provision of this Agreement by the other party shall not operate or be
construed as a waiver of any subsequent breach by such other party. 

13. Notices. All notices, requests, and other
communications hereunder shall be deemed to be duly given if sent by U.S. mail,
postage prepaid, addressed to the other party at the address as set forth herein
below: 

To the Company 

Chase Mellen, Esq. 
1157 South Beverly Drive 
Los
Angeles, California 90035 

Consultant: 

Philip Night 
12835 East Arapahoe Road
Penthouse #850
Tower One 
Englewood, Colorado 80112 

14.      Choice of Law. This
Agreement shall be governed by, construed and enforced in accordance with the
laws of the jurisdiction in which an arbitration or action is commenced.

15.      Arbitration. Any
controversy or claim arising out of or relating to this Agreement, or the
alleged breach thereof, or relating to activities or remuneration under this
Agreement, shall be settled by binding arbitration in California, if commenced
by 

	Strategic Advisor Agreement 	Page 5	04-02-10 

 

	Prominence-Ecologic Agreement 	Confidential 

Company, and in Colorado, if commenced by Consultant, in
accordance with the applicable rules of the American Arbitration Association,
Commercial Dispute Resolution Procedures, and judgment on the award rendered by
the arbitrator(s) shall be binding on the parties and may be entered in any
court having jurisdiction.

16.      Complete Agreement.
This Agreement contains the entire agreement of the parties relating to the
subject matter hereof. This Agreement and its terms may not be changed orally
but only by an agreement in writing signed by the party against whom enforcement
of any waiver, change, modification, extension or discharge is sought. 

17. Termination. This Agreement may be terminated by the
Company at any time without prejudice to any other rights or remedies either
party may have. The Agreement may be terminated by the Consultant on thirty (30)
days written notice only in the event of a material adverse change, or
development that may lead to a material adverse change in the business,
properties, operations or financial condition or prospects of the Company that
adversely effect the ability of the Consultant to perform the services
hereunder.

18. Counterparts Facsimile Execution. For purposes of
this Agreement, a document (or signature page thereto) signed and transmitted by
facsimile machine or telecopy is to be treated as an original document. The
signature of any party thereon, for purposes hereof, is to be considered as an
original signature, and the document transmitted is to be considered to have the
same binding effect as an original signature on an original document. At the
request of either party, a facsimile or telecopy document is to be reexecuted in
original form by the parties who executed the facsimile or telecopy document. No
party may rise the use of a facsimile or telecopy machine as a defense to the
enforcement of the Agreement or at any amendment or other document executed in
compliance with this section.

IN WITNESS WHEREOF, the parties have executed this Agreement as
of the day and year first above written. 

AGREED TO: 

Ecologic Transportation, Inc: 

By: ____________________________________
Name:  Edward
W. Withrow III 
Title:    Chairman

Prominence Capital, LLC: 

By: ____________________________________
Name:  Philip
Night 
Title:    President 

	Strategic Advisor Agreement 	Page 6	04-02-10exh4-1_16885.htm

EXHIBIT 4.1

 

AMENDED AND RESTATED

NON-NEGOTIABLE PROMISSORY NOTE

Philadelphia, Pennsylvania

 

	$1,242,164.95	Dated as of February 2, 2010

 

FOR VALUE RECEIVED, Lifeway Foods, Inc., an Illinois corporation (“Lifeway”) and Fresh Made, Inc., a Pennsylvania corporation (“Fresh Made”) and a wholly-owned subsidiary of Lifeway (Lifeway and Fresh Made together, jointly and severally, “Maker”) promises to pay to the order of Ilya Mandel, an individual, and the Estate of Michael Edelson, Deceased (DOD:  10/24/2009) (collectively “Holders”) the principal amount of One Million Two Hundred Forty-Two Thousand One Hundred Sixty-Four Dollars and Ninety-Five Cents ($1,242,164.95) with interest on the unpaid principal balance from the date hereof at the Prime Rate (as defined below) per annum, which sum will be payable in one (1) installment of principal in the amount of Three Hundred Forty-One Thousand Eight Hundred Seventy-Five Dollars ($341,875.00), plus interest, due and payable on the first day of May 1, 2010, and one (1) final installment of the outstanding principal balance of this Note plus accrued and unpaid interest, due and payable on August 1, 2010.  All installments shall be paid (and any notice to be given shall be in writing which shall be deemed to have been duly given (i) on the third business day after the day of registration, if sent by registered or certified mail, postage prepaid, (ii) on the next business day following the documented acceptance thereof for next-day delivery by a national overnight air courier service, if so sent, or (iii) on the date sent by facsimile transmission or electronic mail; otherwise it shall be deemed to have been given when actually received at such address) to Holders at c/o Fox Rothschild LLP, Building #10 Sentry Parkway East, 300 Walton Drive, Suite 200, P.O. Box 3001, Blue Bell, PA 19422-3001, to the attention of “Mandel & Edelson Account” or such other address as Holders may provide to Maker by written notice.

The “Prime Rate” shall mean the prime rate of interest as reported on the date prior to the date hereof in The Wall Street Journal.

Upon the failure to make any payment of principal and/or interest on this Note upon any due date or maturity of this Note, whether by acceleration, demand or otherwise, and/or upon the occurrence of an Event of Default and/or during any continuance thereof, this Note shall bear interest at the Prime Rate plus three percent (3%) per annum (the “Default Rate”).

This Note is a replacement of that certain $2,735,000 Non-Negotiable Promissory Note dated February 6, 2009 (the “Replaced Note”) executed by Maker and payable to the Holders, and nothing contained herein shall be construed (a) to be a novation of or to deem paid or forgiven the unpaid principal balance of, or unpaid accrued interest on, said Replaced Note outstanding at the time of its replacement by this Note; or (b) to release, cancel, terminate or otherwise adversely affect all or any part of any lien, security interest or other encumbrance heretofore granted to or for the benefit of the Holders of said Replaced Note.

 

 

 

This Note is being executed and delivered by Maker pursuant to the terms and conditions of that certain Stock Purchase Agreement, dated as of February 6, 2009, between Maker, as Buyer, and Holders, as Sellers (the “Stock Purchase Agreement”) incorporated herein by reference as fully and with the same effect as if set forth herein at length, a copy of which is attached as Exhibit “A” hereto.  Capitalized terms used herein but not defined shall have the meanings ascribed to them in the Stock Purchase Agreement.  Under the Stock Purchase Agreement, Holders sold to Maker and Maker purchased from Holders all of the issued and outstanding shares of capital stock (the “Shares”) of Fresh Made, Inc. (the “Company”).

This Note is secured by certain collateral, as provided in that certain Security Agreement, dated as of February 6, 2009, executed by Maker in favor of Holders (as amended on the date of this Note, the “Security Agreement”), including certain shares of stock of Maker, as provided in that certain Stock Pledge, dated as of February 6, 2009, executed by Maker in favor of Holders (the “Stock Pledge”) and a mortgage on certain real property owned by the Company (the “Mortgaged Property”), as provided in that certain Mortgage, dated as of February 6, 2009, executed by Maker in favor of Holders (the “Mortgage”), and together with the Security Agreement, the Stock Pledge and any other document now or hereafter given to evidence or secure payment of this Note, as such documents may hereafter be amended, restated or replaced from time to time, are hereinafter collectively referred to as the “Security Documents”). Reference is hereby made to the Security Documents (copies of which Security Documents are attached as Exhibit “B” hereto and incorporated herein by reference as fully and with the same effect as if set forth herein at length) for a statement of the covenants and agreements contained therein, a statement of the rights, remedies, and security afforded thereby, and all matters therein contained.

All installments shall be applied first to the payment of accrued interest and second to the payment of principal.  Principal and interest may be prepaid, in whole or in part, at any time without penalty; provided, however, that in the event of a partial prepayment, the amount of the quarterly installment will remain unchanged, but the number of quarterly installments needed to amortize this Note shall be decreased to reflect the reduced amount of principal outstanding on this Note, such reduction to be made starting from the end of the amortization term.

The following shall constitute an “Event of Default” under this Note: (a) if Maker fails to make any payment due under this Note within five (5) days after  the due date therefor (the "Grace Period"), whether on a payment date, at maturity, by acceleration and/or otherwise; (b) the liquidation, dissolution, termination of existence or insolvency of Maker; (c) the assignment for the benefit of any of the creditors of Maker, or the commencement against Maker of proceedings under the Federal Bankruptcy Code or under any bankruptcy or insolvency laws or any laws relating to the relief of debtors, readjustment of indebtedness or reorganization, or if all or any part of the assets of Maker are attached, seized, subjected to a writ or distress warrant, or levied upon, or come within the possession or control of any receiver, trustee, custodian or assignee for the benefit of creditors, or the entry of judgment against Maker or the issuing of any attachment or garnishment against any property of Maker for any amount in excess of ten percent (10%) of the then outstanding principal balance due and payable under this Note; (d) the appointment of a receiver for Maker; (e) the suspension by Maker of the payment of its obligations or the admission by Maker that it is unable to pay its debts generally as they become due; (f) the default of Maker under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of a bank, financial institution or any other creditor and/or any other person or entity, that materially affects the business and/or any of the property of Maker, the ability of Maker to repay and/or perform any of its obligations under this Note and/or under the Stock Purchase Agreement; (g) if a bank, other lender or any other creditor tries to take any of Maker's property on or in which Holder has a lien or security interest; (h) the material nonperformance of, or noncompliance with, any of the other agreements, conditions, covenants, or provisions contained in this Note and/or the Stock Purchase Agreement, which nonperformance or noncompliance continues for a period of ten (10) days after written notice thereof by Holder to Maker; provided, however, that if the nature of Maker's nonperformance or 

 

 

2

 

noncompliance is both non-monetary and such that more than ten (10) days is reasonably required to cure the same, then such nonperformance or noncompliance shall not be deemed an Event of Default under this Note if Maker commences such cure as promptly as reasonably possible within such ten (10) day period, diligently prosecutes such cure to completion, and in any event completes such cure within forty-five (45) days from the date of Holder's written notice thereof; or (i) the sale, lease, transfer, assignment, encumbrance, or other disposition of the Mortgaged Property and/or all or substantially all of the other assets of Maker, including any attempt to accomplish the foregoing.

If an Event of Default should occur, Holders, at their option, may declare the outstanding principal balance of, and all accrued but unpaid interest on, this Note to be immediately due and payable without presentment, demand, protest, or notice of any kind, all of which are hereby expressly waived.  If an Event of Default should occur, in addition to any of the other rights, remedies and options available to Holders, or any of them, at law and/or in equity, and/or under this Note, the Stock Purchase Agreement, the Security Documents and/or otherwise, Section 8.11 of the Stock Purchase Agreement shall be null and void, and Holders, or any of them, may, directly or indirectly, resume any one or more of the businesses of the Company as operated by the Company prior to the Closing of the Transaction.

 

In the event that Maker makes any claim(s) against Holders for indemnification and/or payment of damages to which Maker or any Buyer Indemnified Party may be entitled under Section 9.2 of the Stock Purchase Agreement (subject to the limitations and other provisions of Sections 9.4 and 9.8 of the Stock Purchase Agreement) and Holders, being otherwise obligated to provide such indemnification and/or to make such payment, fails to do so, Maker shall have the right to offset the amount(s) of Maker’s claim(s), as aforesaid, for indemnification and/or payment of damages, (i) first, by withholding and setting-off against the first-occurring payments due to Holders under this Note the amount of any such claim(s) for indemnification or payment of damages to which Maker or any Buyer Indemnified Party may be entitled under Section 9.2 of the Stock Purchase Agreement; (ii) second, to the extent not satisfied by (i), by the Holders surrender to Lifeway of the appropriate number of the Lifeway Shares then owned by Holders (based on the fair market value of the Lifeway Shares on the day the claim is resolved) and the canceling of such Lifeway Shares by Lifeway; and (iii) third, to the extent that (i) and (ii) are exhausted and such claim(s) against Holders for indemnification and/or payment of damages are still not satisfied, by pursuing any remaining claims directly against Holders on a joint and several basis.

 

Maker shall pay to Holders, upon demand, any and all costs of investigation, collection and attorneys’ fees, incurred and/or paid by Holders in enforcing this Note, when this Note and/or any payment(s) of principal and/or interest at any time, and from time to time, becomes due and payable, whether by acceleration or otherwise, and/or due to the occurrence of an Event of Default or for any other reason.

This Note may be amended, modified or waived prospectively or retroactively only by a written instrument signed by Maker and Holders.  No delay or omission of Holders in exercising any right and/or remedy under this Note shall operate as a waiver of that or any other right or remedy.  No waiver of any single breach or other default shall be deemed a waiver of any other breach or other default.

 

This Note is non-negotiable and may not be transferred or assigned by Holders.

 

3

 

This Note shall be construed in accordance with and governed by the domestic substantive laws of the State of Pennsylvania without giving effect to any choice of law or conflicts of law provision or rule that would cause the application of domestic substantive laws of any other jurisdiction.  Maker and Holders consent to and submit to the exclusive jurisdiction of the courts of Pennsylvania, located in the County of Philadelphia, for any proceeding arising out of or related to this Note, and further agree that service of process or delivery of documents by U.S. certified mail to its respective address set forth in the Stock Purchase Agreement shall be effective for any purpose.

 

The terms and provisions of this Note shall be binding upon Maker and its successors and permitted assigns, and shall inure to the benefit of Holders and their respective personal representatives, successors and assigns.

 

If any provision of this Note or the application thereof to any person, entity or circumstance should, for any reason and to any extent, be invalid or unenforceable, the remainder of this Note and the application of such provision to other persons, entities or circumstances shall not be affected thereby, but rather shall be enforced to the greatest extent permitted by law.

 

IN WITNESS WHEREOF, each Maker has caused this Note to be duly executed by and in its name, by the undersigned duly authorized officer of each such Maker, on and as of the date set forth at the beginning of this Note, intending to be jointly and severally legally bound hereby.

Lifeway Foods, Inc.

 

By:  /s/ Edward  Smolyansky             

Name:  Edward  Smolyansky             

Title:  Treasurer                                   

                  [CORPORATE SEAL]

 

 

Fresh Made, Inc.

By:  /s/ Edward  Smolyansky             

Name:  Edward  Smolyansky             

Title:  President                                    

                  [CORPORATE SEAL]

MAKER

Accepted by:

 

/s/ Ilya Mandel                                   

Ilya Mandel

 

/s/ Klara Edelson                                

By:  Executrix of the Estate of Michael Edelson,

Deceased (DOD:  10/24/2009)

HOLDERS

 

4

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