Document:

SECOND AMENDMENT

TO EXHIBIT B TO THE

STOCK PURCHASE, LOAN AND SECURITY AGREEMENT

 

This Second Amendment
to Exhibit B to the Stock Purchase, Loan and Security Agreement (the “Second Amendment”) dated effective as
of May 1, 2009, by and among the Investors and Beamz Interactive, Inc. (the “Company”), is executed by an authorized
officer of the Company. Capitalized terms used herein but not defined herein shall have the respective meanings ascribed to them
in the Stock Purchase Agreement.

 

WITNESSETH:

 

WHEREAS, the
Investors and the Company are parties to that certain Stock Purchase, Loan and Security Agreement, dated as of January 28, 2009,
as amended on February 23, 2009 (the “Stock Purchase Agreement”); and

 

WHEREAS, Section
2.3 of the Stock Purchase Agreement provides that Exhibit B to the Stock Purchase Agreement shall be amended to reflect
the additional purchases of Shares and loans made pursuant to an Additional Closing; and

 

WHEREAS, in
accordance with the terms of the Stock Purchase Agreement, the Company held an Additional Closing and issued additional Series
C Preferred Stock and Notes to Joan Brubacher and Evolution Marketing, Inc. effective as of May 1, 2009; and

 

WHEREAS, in
light of the above, the Company desires to amend Exhibit B to the Stock Purchase Agreement as provided below;

 

NOW, THEREFORE,
Exhibit B to the Stock Purchase Agreement is hereby amended as follows:

 

(1)         Amendment
of Exhibit B. Exhibit B to the Stock Purchase Agreement is hereby amended to read in its
entirety as set forth in Exhibit A attached hereto.

 

(2)         Except
as specifically provided herein, the Stock Purchase Agreement shall remain in full force and effect.

 

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IN WITNESS WHEREOF,
the authorized officer of the Company has executed this Second Amendment as of the date first above written.

 

	 	COMPANY:
	 	 
	 	/s/ Charles Mollo
	`	Charles Mollo, CEO

 

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Exhibit A

 

EXHIBIT B

 

INVESTORS AND PURCHASES

 

	Name of Investor	 	 
Shares Purchased
	 	 	Aggregate Purchase
 Price for Shares       	 	 	Principal
 Amount of Loan	 
	 	 	 	 	 	 	 	 	 	 
	INITIAL CLOSING
 January 28, 2009	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	TM 07 Investments LLC	 	 	70,286	 	 	$	492	 	 	$	49,508	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	CMI International LLC	 	 	35,143	 	 	$	246	 	 	$	24,754	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	CJMO, LLC	 	 	105,429	 	 	$	738	 	 	$	74,262	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Oak Stream Investors II, Ltd.	 	 	140,572	 	 	$	984	 	 	$	99,016	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Thomas F. Gardner	 	 	70,286	 	 	$	492	 	 	$	49,508	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Hotwire Development, LLC	 	 	140,572	 	 	$	984	(1)	 	$	99,016	(1)
	 	 	 	 	 	 	 	 	 	 	 	 	 
	ADDITIONAL CLOSING
 February 23, 2009	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Rick Dahlson	 	 	35,143	 	 	$	246	(2)	 	$	24,754	(2)
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Thomas F. Gardner	 	 	49,200	 	 	$	344	(3)	 	$	34,656	(3)
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jerry Riopelle	 	 	35,143	 	 	$	246	(2)	 	$	24,754	(2)
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jeff Doss	 	 	35,143	 	 	$	246	(2)	 	$	24,754	(2)
	 	 	 	 	 	 	 	 	 	 	 	 	 
	TM 07 Investments, LLC(4)	 	 	126,515	 	 	$	886	(5)	 	$	89,114	(5)
	 	 	 	 	 	 	 	 	 	 	 	 	 
	ADDITIONAL CLOSING
 May 1, 2009	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Joan Brubacher	 	 	35,143	 	 	$	246	 	 	$	24,754	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Evolution Marketing, Inc.	 	 	70,286	 	 	$	492	 	 	$	49,508	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL	 	 	948,861	 	 	$	6,642	 	 	$	668,358	 

 

    	A-1

    	 

    

 

(1)In lieu
of a $100,000 fee under that certain Development, Manufacturing and Outsourcing Agreement, of even date herewith, by and between
Hotwire and the Company.

 

(2) In lieu
of a $25,000 fee for service as a director of the Company.

 

(3) In lieu
of a $25,000 fee for service as a director of the Company and a $10,000 consulting fee for service as a consultant to the Company.

 

(4) Charlie
Mollo’s Series C Preferred Stock and Notes issued for his service as a director and his service as Chief Executive Officer
are issued in the name of TM 07 Investments, LLC.

 

(5) In lieu
of a $25,000 fee for service as a director and $65,000 fee for service as the Chief Executive Officer of the Company.

 

    	A-2AMENDMENT

TO THE

STOCK PURCHASE, LOAN AND SECURITY AGREEMENT

 

This Amendment to the
Stock Purchase, Loan and Security Agreement (the “Amendment”) dated effective as of May 15, 2009, by and among
the Investors and Beamz Interactive, Inc. (the “Company”), is executed by the Company and the Investors. Capitalized
terms used herein but not defined herein shall have the respective meanings ascribed to them in the Stock Purchase Agreement (hereinafter
defined).

 

WITNESSETH:

 

WHEREAS, the
Investors and the Company are parties to that certain Stock Purchase, Loan and Security Agreement, dated as of January 28, 2009,
as amended on February 23, 2009 and May 1, 2009 (the “Stock Purchase Agreement”); and

 

WHEREAS, Section
8.11 of the Stock Purchase Agreement provides that the Stock Purchase Agreement may not be amended, supplemented, or otherwise
modified except by a written agreement executed by each of the Parties; and

 

WHEREAS, the
Company wishes to (i) increase the number of Shares it may issue under the Stock Purchase Agreement and (ii) increase the amount
of money it may borrow from Investors under the Stock Purchase Agreement; and

 

WHEREAS, the
Parties desire to amend the Stock Purchase Agreement as provided below.

 

NOW, THEREFORE,
in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto hereby agree as follows:

 

(1)         Amendments
to Stock Purchase Agreement.

 

a.           Recital
A of the Stock Purchase Agreement shall be deleted and restated in its entirety as follows:

 

“A. The Company wishes
to: (i) issue and sell to the Investors up to an aggregate of 4,000,000 shares (“Shares”) of the authorized
but unissued Series C Convertible Preferred Stock, $0.001 par value, of the Company (the “Series C Preferred Stock”),
at a purchase price of $0.007 per share (an aggregate of $28,000); and (ii) borrow from Investors up to $2,500,000; and”

 

b.           Section
2.1(a) of the Stock Purchase Agreement shall be amended by adding the following language after the first sentence of such section:

 

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“The Board of Directors
and stockholders of the Company have approved, and the Company has filed with the Secretary of State of the State of Delaware,
the First Amendment to the Third Amended and Restated Certificate of Incorporation, a copy of which is attached hereto as Exhibit
D.”

 

c.           The
first sentence of Section 2.3(b) of the Stock Purchase Agreement shall be deleted and restated in its entirety as follows:

 

“The Company may hold additional
closings after the Initial Closing, provided that no such additional closings may be held after December 31, 2010.”

 

d.           Section
7.1(q) of the Stock Purchase Agreement shall be deleted and restated in its entirety as follows:

 

“The Transaction Documents,
and the transactions contemplated thereby, shall have been approved by the Board of Directors of the Company, and the Investors
shall have received a written copy of such approval; and” 

 

e.           Section
8.11 of the Stock Purchase Agreement shall be deleted and restated in its entirety as follows:

 

“Entire Agreement;
Modification. This Agreement and the other Transaction Documents collectively constitute the entire and final agreement among
the Parties with respect to the subject matter hereof, and supersede and replace all prior agreements, understandings, commitments,
communications and representations made between the Parties, whether written or oral, with respect to the subject matter hereof.
This Agreement may not be amended, supplemented, or otherwise modified except by a written agreement executed by the Company and
a majority of the Investors.”

 

(2)         Miscellaneous.

 

(a)
This Amendment shall be governed by the laws of the State of Arizona.

 

(b)
Paragraph headings are inserted herein for convenience only and do not form a part of this Amendment.

 

(c)
Except as specifically provided herein, the Stock Purchase Agreement shall remain in full force and effect.

 

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IN WITNESS WHEREOF,
the authorized officer of the Company has executed this Amendment as of the date first above written.

 

	 	PARTIES:
	 	 
	 	COMPANY:
	 	 
	 	 
	 	Charles Mollo, CEO
	 	Date:	 
	 	 
	 	INVESTORS:
	 	 
	 	TM 07 Investments, LLC
	 	 
	 	By:	 
	 	  Charles R. Mollo, Manager
	 	Date:	 
	 	 
	 	CJMO, LLC
	 	 
	 	By:	 
	 	  Charles R. Mollo, Manager
	 	Date:	 
	 	 
	 	CMI International LLC
	 	 
	 	By:	 
	 	   Charles R. Mollo, Manager
	 	Date:	 

 

	 	Oak Stream Investors II,
    Ltd.
	 	 
	 	By: Oak Stream Ranch, Inc., its general partner
	 	 
	 	By:	 
	 	Jack D. Furst, Chairman of the Board
	 		Date:	 

 

	 	 
	 	Thomas F. Gardner
	 	Date:	 

 

 

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	 	Hotwire Development, LLC
	 	 
	 	By:	 
	 	Jeffrey S. Doss, Manager
	 	Date:	 

  

	 	   Evolution
    Marketing, Inc.
	 	 
	 	   By:	 
	 	   Name and Title:	 
	 	   Date:	 
	 	 	 	 

	 	 
	 	Joan Brubacher
	 	Date: 	 
		 
	 	 
	 	Jeffrey S. Doss
	 	Date:	 
	 	 
	 	 
	 	Rick Dahlson
	 	Date:	 
	 	 
	 	 
	 	Jerry Riopelle
	 	Date:	 

  

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EXHIBIT D

 

FIRST AMENDMENT TO

THIRD AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

 

[See
attached.]JULY 2010 AMENDMENT

TO THE

STOCK PURCHASE, LOAN AND SECURITY AGREEMENT

 

This July 2010 Amendment
to the Stock Purchase, Loan and Security Agreement (the “Amendment”) dated effective as of July 6, 2010, is
by and among a majority of Investors and Beamz Interactive, Inc., a Delaware corporation (the “Company”). Capitalized
terms used herein but not defined herein shall have the respective meanings ascribed to them in the Stock Purchase Agreement (as
defined below).

 

WITNESSETH:

 

WHEREAS, Investors
and the Company are parties to that certain Stock Purchase, Loan and Security Agreement, dated as of January 28, 2009, as amended
(the “Stock Purchase Agreement”); and

 

WHEREAS, the
Company is undertaking an offering of up to $1,000,000 of bridge notes and shares of common stock pursuant to a Bridge Loan, Stock
Purchase and Security Agreement (the “Bridge Loan Agreement”), and as a requirement thereof, the holders of
Notes must agree to subordinate the Notes to the Senior Secured Promissory Notes to be issued under the Bridge Loan Agreement (the
“Bridge Notes”); and

 

WHEREAS, the
Company and the undersigned Investors desire to amend Section 8.11 of the Agreement to clarify such Section;

 

NOW, THEREFORE,
in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto hereby agree as follows:

 

1.          Amendments
to Stock Purchase Agreement. Pursuant to Section 8.11 of the Stock Purchase Agreement, the Company and a majority of Investors
hereby agree that the Stock Purchase Agreement is hereby amended as follows:

 

(a)        The security
interest granted to Investors pursuant to Article 3 of the Stock Purchase Agreement is hereby subordinated to the security interest
granted to the holders of the Bridge Notes under the Bridge Loan Agreement, and the Company is authorized, empowered and directed,
for any on behalf of the Investors to make any filing required by the holders of Bridge Notes to evidence such subordination.

 

(b)        Section
6(d) is hereby amended to permit the issuance of the Bridge Notes and the creation of the first lien on the Collateral in favor
of the holders of Bridge Notes.

 

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(c)           Section
8.11 is hereby amended and restated to read in its entirety as follows:

 

  “8.11Entire
Agreement; Modification. This Agreement and the other Transaction Documents collectively constitute the entire and final agreement
among the Parties with respect to the subject matter hereof, and supersede and replace all prior agreements, understandings, commitments,
communications and representations made between the Parties, whether written or oral, with respect to the subject matter hereof.
This Agreement may not be amended, supplemented, or otherwise modified except by a written agreement executed by Investors loaning
at least a majority of the principal amount of the Notes and the Company.”

 

2.          Miscellaneous.

 

(a)        This Amendment
shall be governed by the laws of the State of Arizona.

 

(b)        Paragraph
headings are inserted herein for convenience only and do not form a part of this Amendment.

 

(c)        Except
as specifically provided herein, the Stock Purchase Agreement shall remain in full force and effect.

 

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

 

	 	BEAMZ INTERACTIVE, INC.
	 	 
	 	By:	 
	 	 	Charles R. Mollo, Chief Executive Officer

 

	 	INVESTORS:
	 	 
	 	[See attached signature pages]

 

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SIGNATURE PAGE OF INVESTOR TO

THE AMENDMENT

TO THE

STOCK PURCHASE, LOAN AND SECURITY AGREEMENT

 

The undersigned Investor
hereby executes and delivers this signature page to that certain Amendment to the Stock Purchase, Loan and Security Agreement,
dated as of July ___, 2010 (the “Amendment”), by and among Beamz Interactive, Inc., a Delaware corporation (the
“Company”) and the Investors hereby executing the Amendment. Each capitalized term used herein but not expressly
defined shall have the meaning given to such term in the Amendment.

 

Executed as of ___________________,
2010.

 

	 	If undersigned is an entity:
	 	 
	 	 
	 	(Print Name of Entity)
	 	 
	 	By:	 
	 	Printed:	 
	 	Title:	 

 

	 	If undersigned is an individual:
	 	 
	 	By:	 
	 	Printed:	 

 

    	S-1

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