Document:

WEBSITE ASSET PURCHASE AGREEMENT

EXHIBIT 10.34

WEBSITE ASSET PURCHASE AGREEMENT

This Website Asset Purchase Agreement (the "Agreement ") is made effective on this 17th day of February, 2015, by and between Anthony Carr, JQPublic-blog.com with its legal address being 56 Oxford Avenue, Belmont, MA 02478 (the "Seller"), and Bright Mountain, LLC , a Florida limited liability company at 6400 Congress Avenue, Boca Raton, FL 33487 (the "Buyer ").

1.

WEBSITE PURCHASE

Subject to the terms and conditions contained in this Agreement the Seller hereby sells and transfers to the Buyer any and all of Seller's rights, title and interest in and to the Website and Internet Domain Name, JQPublic-blog.com and all of its respective contents (the "Website "), and any other rights associated with the Website , including, without limitation , any intellectual property rights , all related domains , logos , customer lists and agreements , email lists, passwords , usernames and trade names; and all of the related social media accounts including but not limited to, Instagram , Twitter , Facebook , Instagram, and Pinterest at closing and associated other rights are more specifically and particularly identified on Exhibit "A" hereto.

2.

PAYMENT TERMS

In consideration for the sale of the Website as defined in paragraph 1 above, the Buyer agrees to pay the Seller the amount of Twenty Seven Thousand Dollars (US $27,000.00) payable at the rate of $1,500 per month beginning at the February 17, 2015 closing, which Buyer shall deliver payments to Seller via ADP direct deposit transfers and One Hundred Thousand shares (100,000) in Bright Mountain Acquisition Corporation ''BMAQ" common stock.  Common stock is to be held by Seller for a minimum of six months. Additionally, for a period of three years from the effective date of this agreement, seller will not sell more than 10,000 shares of BMAQ's common stock in any calendar quarter and no more than 1,000 shares in any trading day.

3.

SELLER'S OBLIGATIONS

Seller agrees to facilitate and expedite transfer of the Website and all of its respective contents as defined above at closing. Further, Seller agrees to make himself available, at mutually acceptable times, for up to 1 hour per week by telephone.  Further, seller agrees to continue writing blogs at the rate (except for the bar exam period in June, 2016) of six (6) to ten (10) per month for a period of five years.

4.

REPRESENTATIONS AND WARRANTIES BY THE SELLER

a)

The Seller has all necessary right, power and authorization to sign and perform all the obligations under this Agreement.

b)

The Seller has the exclusive ownership of the Website and there are no current disputes or threat of disputes with any third party over the proprietary rights to the Website or any of the Website's content.

c)

The Seller warrants that the business of JQPublic-blog.com is stable and no material loss of revenue or traffic is expected.

d)

The execution and performance of this Agreement by the Seller will not constitute or result in a violation of any material agreement to which the Seller is a party.

5.

INDEMNITY

The Seller shall indemnify and hold harmless the Buyer against all damages, losses or liabilities, which may arise with respect to the Website, its use, operation or content, to the extent such damage, loss or liability was caused by the wrongful conduct of Seller prior to the effective date of this Agreement.  Such duty to indemnify on the part of the Seller shall terminate as of December 31, 2015.

6.

ADDITIONAL DOCUMENTS

Seller agrees to cooperate with Purchaser and take any and all actions necessary to transfer and perfect the ownership of the Website Registration and Hosting from Seller to Buyer , including providing all necessary passwords and usernames on the closing date and thereafter. Seller understands that Buyer is a public company and falls under SEC guidelines and requirements and may need historic accounting and financial records. Should Buyer require accounting and financial records for audit purposes from Seller at a future time, Seller agrees to facilitate and deliver to Buyer, upon written request any and all necessary historical financial records without limitation. 

7.

REVENUE HISTORY

The approximate total revenue for 2014 was $1,150.

8.

NON COMPETE

Seller agrees not to compete with Bright Mountain, LLC with any website similar to JQPublic-blog.com for a period of five years.

9.

NOTICE

All notices required or permitted under this Agreement shall be deemed delivered when delivered in person or by certified mail, return receipt requested, with copy sent via  e­ mail, postage prepaid, addressed to the appropriate party at the address shown for  that party at the beginning of this Agreement. The parties hereto may change their addresses by giving written notice of the change in the manner described in this paragraph. Any party hereto may acknowledge receipt of a document or other information by email and expressly waive their right to notice of that document or other information by mail in said email communication.

10.

ENTIRE AGREEMENT AND MODIFICATION

This Agreement constitutes the entire agreement between the parties. No modification or amendment of this Agreement shall be effective unless in writing and signed by both parties. This Agreement replaces any and all prior agreements between the parties.

11.

INVALIDITY OR SEVERABILITY

If there is any conflict between any provision of this Agreement and any law, regulation or decree affecting this Agreement, the provision of this Agreement so affected shall be regarded as null and void and shall, where practicable, be curtailed and limited to the extent necessary to bring it within the requirements of such law, regulation or decree but otherwise it shall not render null and void other provisions of this Agreement.

12.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of Florida.

Signed this 17th day of February, 2015.

Seller:

Anthony Carr

			
	Signature:  

	/s/ Anthony Carr

	 

Buyer: Bright Mountain. LLC

By:  W. Kip Speyer: President 

			
	Signature:  

	/s/ W. Kip Speyer

	 

Exhibit "A" Website and Associated Rights

JQPublic-blog.com

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Domain name

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Facebook

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TwitterExhibit 10.1  (W1025095.DOC;1)

Exhibit 10.1

WAUSAU PAPER CORP.

2010 STOCK INCENTIVE PLAN

GRANT OF PERFORMANCE UNITS

Grant Agreement made February 16, 2015 (the “Date of Grant”) between Wausau Paper Corp., a Wisconsin corporation with its principal place of business at Mosinee, Wisconsin (the “Corporation”), and Michael C. Burandt (the “Grantee”) to evidence the Grant set forth herein under the terms of the Wausau Paper Corp. 2010 Stock Incentive Plan (the “Plan”).

1.

Grant of Performance Units and Dividend Equivalents.  The Corporation hereby awards the Grantee a Grant of 133,273 Performance Units (the “Units”) and the related Dividend Equivalents specified in paragraph 2, each upon the terms and conditions of this Grant Agreement and the Plan, including those of the Plan hereinafter stated.  Upon vesting in accordance with this Grant Agreement, Units shall be converted into shares of Common Stock (each, a “Share”) on the basis of one Share per Unit.

2.

Dividend Equivalents.  On each date on which (a) the Units granted pursuant to this Agreement have not become vested or have not been forfeited pursuant to paragraph 3, and (b) the Company pays a cash dividend to holders of Common Stock (each, a “Dividend Payment Date”), an additional number of whole and fractional Units (“Additional Units”) will be credited to the Grantee in an amount determined by dividing (x) the aggregate cash dividends that would have been paid on the number of shares of Common Stock (a “Share”) into which the Units then credited to the Grantee under this Grant would be converted upon vesting by (y) the Fair Market Value of a Share on such Dividend Payment Date.  All Additional Units so credited shall be subject to the same terms and conditions as the Units granted pursuant to Section 1 and such Additional Units shall be forfeited in the event that the Units granted pursuant to paragraph 1 are forfeited.  Additional Units, once credited to Grantee pursuant to this paragraph 2, shall be referred to as “Units.

3.

Vesting.  Subject to the terms and conditions of this Grant Agreement, the Units shall vest, and the restrictions with respect to the Units shall lapse, only upon attainment of each of (a) the Corporation’s financial performance goals specified in paragraph 3.a., and (b) completion of the service specified in paragraph 3.b..  In the event any one or more of such conditions is not satisfied, or if the Grantee shall incur a Termination of Service for Cause, the Grantee’s rights to the Units (including all Units derived from Additional Units) and this Grant shall be immediately and irrevocably forfeited.

a.

Financial Performance of the Corporation.  The condition to vesting based on the Corporation’s financial performance shall be satisfied on the date of the report of the Corporation’s independent auditors on the consolidated financial statements of the Corporation for the fiscal year ended December 31, 2015, as to the percentage of Units subject to this Grant specified below if, but only if, the Corporation’s Earnings 

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Before Interest, Income Taxes, Depreciation, and Amortization (“EBITDA”), as derived from such consolidated financial statements, equals or exceeds the corresponding Threshold EBITDA specified below:

		
	Percentage of Units

	 

	As To Which Condition

	Threshold

	On Vesting is Satisfied

	EBITDA

	 
	 

	0

	Less than $62.5M

	50%

	$62.5M but less than $65M

	60%

	$65M but less than $67.5M

	65%

	$67.5M but less than $70M

	75%

	$70M but less than $72.5M

	80%

	$72.5M but less than $75M

	90%

	$75M but less than $77.5M

	100%

	$77.5M or more

For purposes of this Grant, the term “Earnings Before Interest, Income Taxes, Depreciation, and Amortization” for the fiscal year ending December 31, 2015 (the “Fiscal Year”) shall mean the Corporation’s net earnings before interest, income taxes, depreciation and amortization are subtracted, provided however, that for purposes of determining EBITDA, the Corporation’s expenses relating to its 2015 Cash Bonus Plan and 2015 Equity Incentive Plan shall be disregarded, and provided further that adjustments to EBITDA may be made in the discretion of the Committee for any non-recurring or extraordinary items.  EBITDA will be calculated to closest whole dollar, but there shall be no proration of EBITDA between EBITDA levels.  Vested Units will be rounded to the next highest whole Unit.

b.

Minimum Service Required.  The condition to vesting based on the Grantee’s continued service shall be satisfied only if: (1) the Grantee is Employed in the same position or in a capacity of equal or greater responsibility on January 5, 2017; (2) incurred a Termination of Service while so Employed on or after December 31, 2015 by reason of the Grantee’s death, Disability, or Retirement as defined in the Plan; or, (3) to the extent provided in Section 14.1 of the Plan, incurred a Termination of Service on or after the date of a Change in Control of the Corporation that occurs after the Date of Grant.

4.

No Shareholder Rights.  The Units evidenced by this Grant Agreement do not and shall not entitle Grantee to any rights of a shareholder of Common Stock.  The rights of Grantee with respect to the Units shall remain forfeitable at all times prior to the date on which such rights become vested, and the restrictions with respect to the Units lapse, in accordance with paragraph 3.

5.

Conversion of Units, Issuance of Common Stock or Cash.  Upon satisfaction of all conditions to vesting set forth in paragraph 3, the Committee shall direct the Corporation to 

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deliver, with respect to all Units so vested, a certificate representing the equivalent number of Shares, provided, however, that any fractional Unit shall be paid in cash.  Notwithstanding the foregoing, the Grantee may elect, solely as a means of satisfying any federal, state, and/or local tax withholding obligations relating to the conversion of Units pursuant to this paragraph 5, to receive cash for a number of Units as elected by Grantee, with the cash for each Unit equal to the Fair Market Value of one Share.  Payment shall be made as soon as practicable following the satisfaction of all conditions to the vesting of such Units.  In no event, however, shall the Corporation be obligated to deliver any certificates for Shares prior to the fulfillment by it of any listing obligations with respect to the Shares on any exchange or over-the-counter market or the registration or qualification of the Common Stock under any federal or state securities laws which the Corporation deems advisable.

6.

Adjustment Upon Changes in Capitalization.  If the Common Stock is changed into a greater or lesser number of Shares as a result of a stock dividend, stock split-up, or combination of Shares, then the number of Units to which this Grant relates shall be proportionately increased or decreased to give effect to the change as provided for in Section 3.4 of the Plan.  In the event of any other change in the Common Stock or change in the capitalization of the Corporation, the Committee may make such changes in the terms of this Grant as provided for in Section 3.5 of the Plan.

7.

Restriction on Transfer.  The Units and any rights under this Grant may not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of by Grantee other than by will or by the laws of descent and distribution, and any such purported sale, assignment, transfer, pledge, hypothecation, or other disposition shall be void and unenforceable against the Corporation. 

8.

Tax Matters.  In order to comply with all applicable federal, state, or local tax laws or regulations, the Corporation may take such action as it deems appropriate to ensure that all applicable federal, state, or local payroll, withholding, income, or other taxes, which are the sole and absolute responsibility of Grantee, are withheld or collected from Grantee.  In accordance with the terms of the Plan, and such rules as may be adopted by the Committee under the Plan, to the extent the Committee has not elected to withhold any payments which it has otherwise elected to make in cash to Grantee pursuant to paragraph 5 in settlement of this Grant, Grantee shall satisfy Grantee’s federal, state, and local income tax withholding obligations arising from the vesting of the Units, by delivering a check payable to the Corporation in the amount of such taxes.

9.

Shares as Investment.  If not registered by the Corporation under the Securities Act of 1933 (the “Act”), the Shares acquired pursuant to this Grant will be “restricted” stock which will not be freely transferable by the holder.  The Grantee, for herself and any successor in interest of the Grantee, accordingly represents and acknowledges, as a condition of this Grant, that (a) Shares which are unregistered under the Act will be acquired for the Grantee’s (or Grantee’s successor’s) own account for investment only and not with a view to offer for sale or for sale in connection with the distribution or transfer thereof, and (b) that the certificates representing Shares which have not been registered pursuant to the Act will bear a legend as to such restrictions on transfer.

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10.

Employment.  This Grant Agreement does not constitute a contract of employment between the Corporation or any subsidiary of the Corporation and the Grantee and it shall not affect the right of the Corporation or any present or future subsidiary of the Corporation to terminate the employment of the Grantee, with or without cause, at any time.

11.

Construction and Definitions.  This Grant Agreement is subject to and shall be construed in accordance with the terms of the Plan which are explicitly made applicable to this Grant Agreement and incorporated by this reference.  Unless otherwise defined, all terms used in this Grant Agreement, when capitalized, have the same meaning as such terms are defined in the Plan and each such definition is hereby incorporated by this reference.  This Agreement incorporates by reference all the terms, conditions and limitations set forth in the Plan, and in the event of any conflict between the provisions of this Grant Agreement and the Plan, the provisions of the Plan shall govern.  

12.

Governing Law.  This Grant Agreement shall be governed by the internal laws of the State of Wisconsin without reference to the principles of conflicts of law.

13.

Binding Effect.  This Grant Agreement shall be binding upon and inure to the benefit of the Corporation and the Grantee and their successors. 

14.

Electronic Delivery.  By executing this Agreement, the Grantee hereby consents to the delivery of information (including, without limitation, information required to be delivered to the Grantee pursuant to applicable securities laws) regarding the Corporation and its Subsidiaries, the Plan, and the Units, via the Corporation’s web site or other electronic delivery.

IN WITNESS WHEREOF, the Corporation has caused this Grant Agreement to be signed by its officer, thereunto duly authorized, and the Grantee has acknowledged acceptance of this Grant in accordance with the terms of this Grant Agreement and the Plan, all as of the Date of Grant.

GRANTEE

WAUSAU PAPER CORP.

/s/ MICHAEL C. BURANDT

By:  /s/ SHERRI L. LEMMER

Michael C. Burandt

     Sherri L. Lemmer

     Senior Vice President and

Chief Financial Officer

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