Document:

Filed by sedaredgar.com - Pengram Corporation - Exhibit 10.3

EXTENSION AGREEMENT 

THIS AGREEMENT is dated as of the 21st day of January,
2010. 

BETWEEN: 

  
    
      BAKO RESOURCES INC., a British Columbia
        corporation having its registered office at Suite 950, 650 West Georgia
        Street, Vancouver, British Columbia, Canada V6E 3P3 

      (hereinafter called the "Vendor") 

    

  

OF THE FIRST PART 

AND: 

  
    
      PENGRAM CORPORATION, a Nevada corporation
        having its registered office at 8275 S. Eastern Avenue, Suite 200, Las
        Vegas, NV 89123 

      (hereinafter called the "Purchaser") 

    

  

OF THE SECOND PART 

WHEREAS: 

A.        The Vendor and the
Purchaser entered into a Purchase Agreement (the “Purchase Agreement”) dated
December 16, 2008, pursuant to which the Purchaser acquired a 100% interest the
Property (as defined in the Purchase Agreement) from the Vendor. In
consideration of the Property, the Purchaser issued to the Vendor 2,000,000
pre-split (6,000,000 post-split) shares of its common stock and a promissory
note in the amount of CDN $70,000 payable on June 30, 2009 (the “Promissory
Note”). 

B.        On July 23, 2009,
the Vendor agreed to extend the due date of the Promissory Note to December 31,
2009. 

C.        The Vendor has
agreed to further extend the due date of the Promissory Note to February 15,
2010 and in consideration of the extension the Purchaser has agreed to issue
10,000 shares of its common stock to the Vendor. 

NOW, THEREFORE, in consideration of the covenants and
agreements contained herein and other good and valuable consideration, the
receipt and sufficiency are hereby acknowledged, the Vendor and the Purchaser
agree as follows: 

	1. 	
      Definitions. Except as otherwise set out herein,
      capitalized terms used in this Agreement shall have the same meaning as
      specified in the Purchase Agreement.

	 	 
	2. 	
      Extension of Promissory Note. The Vendor agrees to
      extend the due date of the Promissory Note to February 15, 2010.

	 	 
	3. 	
      Issuance of Shares. In consideration of the
      extension, the Purchaser shall issue 10,000 shares of the Purchaser’s
      common stock to the Vendor.

	 	 
	4. 	
      Vendor Representations and Warranties. The Vendor
      represents and warrants to the Purchaser that:

	 	(a) 	
      it acknowledges that the shares to be issued to it under
      this Agreement are being issued in reliance of exemptions from applicable
      securities laws and will be restricted shares. Certificates representing
      the shares will be endorsed with appropriate legends; and

	 	 	 
	 	(b) 	
      it is not a “US Person” as defined in Rule 903 of
      Regulation S of the Securities Act of 1933.

	5. 	
      No Other Modification. The parties confirm that
      the terms, covenants and conditions of the Purchase Agreement remain
      unchanged and in full force and effect, except as modified by this
      Agreement.

	 	 
	6. 	
      Independent Legal Advice. This Agreement has been
      prepared by O’Neill Law Group PLLC acting solely on behalf of the
      Purchaser and the Vendor acknowledges that it has been advised to obtain
      independent legal advice.

	 	 
	7. 	
      Successors and Assigns. Except as otherwise
      expressly provided herein, the provisions hereof shall inure to the
      benefit of, and be binding upon, the successors, assigns, heirs, executors
      and administrators of the parties hereto.

	 	 
	8. 	
      Entire Agreement. This Agreement constitutes the
      full and entire understanding and agreement between the parties with
      regard to the subject hereof.

	 	 
	9. 	
      Counterparts. This Agreement may be executed in
      two or more counterparts, each of which shall constitute an original, but
      all of which, when taken together, shall constitute but one instrument,
      and shall become effective when one or more counterparts have been signed
      by each party hereto and delivered to the other
parties.

IN WITNESS WHEREOF, the parties have duly executed and
delivered this Agreement as of the date first written above. 

BAKO RESOURCES INC. 
by its authorized signatory:

/s/ Geoffrey N. Goodall

_______________________________
Geoffrey N. Goodall 

PENGRAM CORPORATION 
by its authorized signatory:

/s/ Richard W. Donaldson

_______________________________
Richard W. Donaldson 

2WWW.EXFILE.COM, INC. -- 888-775-4789 -- LIFEWAY FOODS, INC. -- EXHIBIT 10.1 TO FORM 8-K

    EXHIBIT
10.1

     

    EIGHTH
EXTENSION

    TO

    STOCKHOLDERS’
AGREEMENT

    

    This
EIGHTH EXTENSION TO STOCKHOLDERS’ AGREEMENT (the “Eighth Extension”) is hereby
entered into as of the 31st day
of December, 2009, by and between Lifeway Foods, Inc., an Illinois corporation
(the “Company”) and DS Waters, L.P., a Delaware limited partnership (“DSW”)
(“Stockholder”). Unless otherwise defined herein, all capitalized terms used
herein shall have the same meaning ascribed to those terms in the Stockholders’
Agreement.

    

    WHEREAS,
Danone Foods, Inc., a Delaware corporation (“DFI”) executed that certain Stock
Power dated November 10, 2005, transferring all the shares of the Company which
were held by DFI as of such date that are the subject of that certain
Stockholders’ Agreement by and among DFI and the Company and certain other
parties dated as of October 1, 1999, as amended on December 24, 1999 (as amended
and extended, the “Stockholders’ Agreement”) and as extended by that certain
First Extension to Stockholders’ Agreement dated September 28, 2004 (the “First
Extension”) and by that certain Second Extension to Stockholders’ Agreement
dated October 29, 2004 (“Second Extension”) and by that certain Third Extension
to Stockholders’ Agreement dated December 30, 2004 (the “Third Extension”) and
by that certain Fourth Extension to Stockholders’ Agreement dated April 28, 2006
(the “Fourth Extension”) and by that certain Fifth Extension to Stockholders’
Agreement dated December 26, 2007 (the “Fifth Extension”) and by the Sixth
Extension to Stockholders’ Agreement entered into as of December 31, 2007 (the
“Sixth Extension”) and by the Seventh Extension to Stockholders’ Agreement
entered into as of January 15, 2009 (the “Seventh Extension”)  are the
subject of the Stockholders’ Agreement to DSW;

    

    WHEREAS,
DSW accepted such shares subject to the covenants and restrictions contained in
the Stockholders’ Agreement and DSW hereby agrees to be bound by its terms
contained therein;

    

    WHEREAS,
under the Seventh Extension, the Standstill Period and the operative period of
Section 6.02 of the Stockholders’ Agreement (“Non-Compete Period”) expires on
December 31, 2009;  and

    

    WHEREAS,
each of the Company and the Stockholders desires to further amend the
Stockholders’ Agreement to extend the Standstill Period and the Non-Compete
Period, with the specific exclusion of the company, Stonyfield Farms, Inc. from
any such obligation, of the Stockholders’ Agreement as more fully provided in
this Eighth  Extension.

    

    NOW,
THEREFORE, in consideration of the entry of the parties into this Eighth
Extension and for other good and valuable consideration, the receipt of which is
acknowledged herein, the parties hereto agree as follows:

    

    1.   Acceptance of Terms of
Stockholders’ Agreement; Acknowledgment.  DSW represents to
Company that DSW is an Affiliate of DFI and that DSW has been assigned the
Stockholders’ Agreement and the shares of Company from DFI and, DSW further
agrees to be bound by, and receive all the benefits of, the terms and conditions
of the Stockholders’ Agreement.

     

    2.   Extension of Standstill
Period.  The Standstill Period shall be extended to include any
time during the period beginning on October 1, 1999 and ending at the close of
business on December 31, 2010 and during which the Stockholders Beneficially
Owns 10% or more of the outstanding shares of Common Stock on a Fully Diluted
Basis.

     

    3.   Extension of Non-Compete
Period.  The Non-Compete Period shall be extended to include
the period beginning on October 1, 1999 and ending at the close of business on
December 31, 2010, with the exception that the Stonyfield Farms, Inc. entity
shall be specifically excluded from any and all non-compete
obligations.  The non-compete obligations shall apply only to
kefir.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.   Governing
Law.  This Eighth Extension shall be governed by and construed
in accordance with the laws of the State of Illinois.

     

    5.   No Waiver of Other
Rights.  The execution, delivery and effectiveness of this
Eighth Extension shall not, except as expressly provided herein, operate as a
waiver of any right, power or remedy of any of the parties to the Stockholders’
Agreement.

     

    6.   Counterparts.  This
Eighth Extension may be executed in any number of counterparts, each of
which shall be deemed to be an original and all of which counterparts together
shall constitute one and the same instrument.

     

    [Signature
Page Follows] 

      

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, this Eighth Extension is hereby executed as of the date first
above written.

    

    

    
      	
              LIFEWAY
      FOODS, INC.,

              an
      Illinois corporation

            	
              DS
      WATERS, L.P.,

              a
      Delaware limited partnership

               

              By:
      DS Waters General Partner, LLC, its general partner

            
	
               

               

              By:  /s/ Julie Smolyansky

                    
                
      

              Name:
      Julie Smolyansky

              Its:
      President

            	
               

               

              By: /s/ Karen Aviles

                    
                
      

              Name:
      Karen Aviles

              Its:
      Treasurer

            
	 
      	 
      

    

    

    

    

    

    

     

     

     

    

     

     

    

     

     

     

     

     

     

     

     

     

     

    

    CH01/KUBED/247236.1

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