Document:

EXHIBIT
      4.7

     

    WARRANT

     

    THE
      SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
      SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE,
      SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
      STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
      OR AN
      OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE ISSUER THAT
      REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR UNLESS SOLD PURSUANT TO RULE
      144
      UNDER SAID ACT AND IN COPMPLIANCE WITH APPLICABLE STATE SECURITIES
      LAWS.

     

    DOT
      VN, INC.

     

    Warrant
      To Purchase Common Stock

     

    
      	
              Warrant
                No.:  

            	 	
              Number
                of Shares:

            
	 	 	
              Warrant
                Exercise Price:  
                $
                2.00

            
	 	 	
              Expiration
                Date: January __, 2012

            

    

     

    Date
      of
      Issuance: January __, 2007

    

    Dot
      VN,
      Inc., a Delaware corporation (the “Company”),
      hereby certifies that, for good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, _______
      (the
“Holder”),
      the
      registered holder hereof or its permitted assigns, is entitled, subject to
      the
      terms set forth below, to purchase from the Company upon surrender of this
      Warrant, at any time or times on or after the date hereof, but not after
      11:59 P.M. Eastern Time on the Expiration Date (as defined herein) ______
      (_____) fully paid and nonassessable shares of Common Stock (as defined herein)
      of the Company (the “Warrant
      Shares”)
      at the
      exercise price per share provided in Section 1(b) below or as subsequently
      adjusted; provided, however, that in no event shall the holder be entitled
      to
      exercise this Warrant for a number of Warrant Shares in excess of that number
      of
      Warrant Shares which, upon giving effect to such exercise, would cause the
      aggregate number of shares of Common Stock beneficially owned by the holder
      and
      its affiliates to exceed 9.99% of the outstanding shares of the Common Stock
      following such exercise, except within sixty (60) days of the Expiration Date
      (however, such restriction may be waived by Holder (but only as to itself and
      not to any other holder) upon not less than 65 days prior notice to the
      Company). For purposes of the foregoing proviso, the aggregate number of shares
      of Common Stock beneficially owned by the holder and its affiliates shall
      include the number of shares of Common Stock issuable upon exercise of this
      Warrant with respect to which the determination of such proviso is being made,
      but shall exclude shares of Common Stock which would be issuable upon
      (i) exercise of the remaining, unexercised Warrants beneficially owned by
      the holder and its affiliates and (ii) exercise or conversion of the
      unexercised or unconverted portion of any other securities of the Company
      beneficially owned by the holder and its affiliates (including, without
      limitation, any convertible notes or preferred stock) subject to a limitation
      on
      conversion or exercise analogous to the limitation contained herein. Except
      as
      set forth in the preceding sentence, for purposes of this paragraph, beneficial
      ownership shall be calculated in accordance with Section 13(d) of the Securities
      Exchange Act of 1934, as amended. For purposes of this Warrant, in determining
      the number of outstanding shares of Common Stock a holder may rely on the number
      of outstanding shares of Common Stock as reflected in (1) a recent public
      announcement by the Company or (2) any other notice by the Company or its
      transfer agent setting forth the number of shares of Common Stock outstanding.
      Upon the written request of any holder, the Company shall promptly, but in
      no
      event later than one (1) Business Day following the receipt of such notice,
      confirm in writing to any such holder the number of shares of Common Stock
      then
      outstanding. In any case, the number of outstanding shares of Common Stock
      shall
      be determined after giving effect to the exercise of Warrants (as defined below)
      by such holder and its affiliates since the date as of which such number of
      outstanding shares of Common Stock was reported.

     

    Section
      1.

     

    (a) This
      Warrant is one of the warrants issued pursuant to Section 1 of the Securities
      Purchase Agreement (“Securities
      Purchase Agreement”)
      dated
      the date hereof between the Company and the Buyers listed on Schedule I thereto
      or issued in exchange or substitution thereafter or replacement thereof. Each
      Capitalized term used, and not otherwise defined herein, shall have the meaning
      ascribed thereto in the Securities Purchase Agreement.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    (b) Definitions.
      The
      following words and terms as used in this Warrant shall have the following
      meanings:

     

    (i) “Approved
      Stock Plan”
means
      a
      stock option plan that has been approved by the Board of Directors of the
      Company, pursuant to which the Company’s securities may be issued only to any
      employee, officer or director for services provided to the Company.

     

    (ii) “Business
      Day”
means
      any day other than Saturday, Sunday or other day on which commercial banks
      in
      the City of New York are authorized or required by law to remain
      closed.

     

    (iii) “Closing
      Bid Price”
means
      the closing bid price of Common Stock as quoted on the Principal Market (as
      reported by Bloomberg Financial Markets (“Bloomberg”)
      through its “Volume at Price” function).

     

    (iv) “Common
      Stock”
means
      (i) the Company’s common stock, par value $0.001 per share, and
      (ii) any capital stock into which such Common Stock shall have been changed
      or any capital stock resulting from a reclassification of such Common
      Stock.

     

    (v) “Event
      of Default”
means
      an event of default under the Securities Purchase Agreement or the Convertible
      Debentures issued in connection therewith.

     

    (vi) “Excluded
      Securities”
means,
      (a) shares issued or deemed to have been issued by the Company pursuant to
      an
      Approved Stock Plan, (b) shares of Common Stock issued or deemed to be issued
      by
      the Company upon the conversion, exchange or exercise of any right, option,
      obligation or security outstanding on the date prior to date of the Securities
      Purchase Agreement, provided that the terms of such right, option, obligation
      or
      security are not amended or otherwise modified on or after the date of the
      Securities Purchase Agreement, and provided that the conversion price, exchange
      price, exercise price or other purchase price is not reduced, adjusted or
      otherwise modified and the number of shares of Common Stock issued or issuable
      is not increased (whether by operation of, or in accordance with, the relevant
      governing documents or otherwise) on or after the date of the Securities
      Purchase Agreement, (c) the shares of Common Stock issued or deemed to be
      issued by the Company upon conversion of the Convertible Debentures or exercise
      of the Warrants, (d) shares of Common Stock issued in connection with employment
      or consulting agreement(s), and (e) shares of Common Stock issued in connection
      with the acquisition of a business or assets by the Company or any subsidiary
      thereof or in connection with other strategic transactions or strategic
      partnering arrangements, including, without limitation The Spot On
      merger.

     

    (vii) “Expiration
      Date”
means
      January __, 2012.

     

    (viii) “Issuance
      Date”
means
      the date hereof.

     

    (ix) “Options”
means
      any rights, warrants or options to subscribe for or purchase Common Stock or
      Convertible Securities. 

     

    (x) “Person”
means
      an individual, a limited liability company, a partnership, a joint venture,
      a
      corporation, a trust, an unincorporated organization and a government or any
      department or agency thereof.

     

    (xi) “Principal
      Market”
means
      on any of (a) the American Stock Exchange, (b) New York Stock Exchange, (c)
      the
      Nasdaq Global Market, (d) the Nasdaq Capital Market, (e) the Nasdaq OTC Bulletin
      Board (“OTCBB”)
      or (f)
      the Pink Sheets. 

     

    
      
         

      

      
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    (xii) “Securities
      Act”
means
      the Securities Act of 1933, as amended. 

     

    (xiii) “Warrant”
means
      this Warrant and all Warrants issued in exchange, transfer or replacement
      thereof. 

     

    (xiv) “Warrant
      Exercise Price”
shall
      be $2.00 per share or as subsequently adjusted as provided in Section 8
      hereof. 

     

    (c) Other
      Definitional Provisions. 

     

    (i) Except
      as
      otherwise specified herein, all references herein (A) to the Company shall
      be deemed to include the Company’s successors and (B) to any applicable law
      defined or referred to herein shall be deemed references to such applicable
      law
      as the same may have been or may be amended or supplemented from time to time.
      

     

    (ii) When
      used
      in this Warrant, the words “herein”,
      “hereof”,
      and
“hereunder”
      and
      words of similar import, shall refer to this Warrant as a whole and not to
      any
      provision of this Warrant, and the words “Section”,
      “Schedule”,
      and
“Exhibit”
shall
      refer to Sections of, and Schedules and Exhibits to, this Warrant unless
      otherwise specified. 

     

    (iii) Whenever
      the context so requires, the neuter gender includes the masculine or feminine,
      and the singular number includes the plural, and vice versa. 

     

    Section
      2. Exercise
      of Warrant.
      

     

    (a) Subject
      to the terms and conditions hereof, this Warrant may be exercised by the holder
      hereof then registered on the books of the Company, as hereinafter provided,
      at
      any time on any Business Day on or after the opening of business on such
      Business Day, commencing with the first day after the date hereof, and prior
      to
      11:59 P.M. Eastern Time on the Expiration Date (i) by delivery of a written
      notice, in the form of the subscription notice attached as Exhibit
      A
      hereto
      (the “Exercise
      Notice”),
      of
      such holder’s election to exercise this Warrant, which notice shall specify the
      number of Warrant Shares to be purchased, payment to the Company of an
      amount equal to the Warrant Exercise Price(s) applicable to the Warrant Shares
      being purchased, multiplied by the number of Warrant Shares (at the
      applicable Warrant Exercise Price) as to which this Warrant is being
      exercised (plus any applicable issue or transfer taxes) (the “Aggregate
      Exercise Price”)
      in
      cash or wire transfer of immediately available funds and the surrender of this
      Warrant (or an indemnification undertaking with respect to this Warrant in
      the
      case of its loss, theft or destruction) to a common carrier for overnight
      delivery to the Company as soon as practicable following such date
      (“Cash
      Basis”)
      or
      (ii) if at any time after one year from the date of issuance of this Warrant,
      the Warrant Shares are not subject to an effective registration statement or
      if
      an Event of Default has occurred and the Closing Bid Price of the Common Stock
      is greater than the Exercise Price, by delivering an Exercise Notice and in
      lieu
      of making payment of the Aggregate Exercise Price in cash or wire transfer,
      elect instead to receive upon such exercise the “Net Number” of shares of Common
      Stock determined according to the following formula (the “Cashless
      Exercise”):
      

     

    Net
      Number = (A
      x
      B) - (A x C)

                                         
      B

    

    For
      purposes of the foregoing formula: 

    

    A
      = the
      total number of Warrant Shares with respect to which this Warrant is then being
      exercised. 

    

    B
      = the
      Closing Bid Price of the Common Stock on the date of exercise of the
      Warrant.

    

    C
      = the
      Warrant Exercise Price then in effect for the applicable Warrant Shares at
      the
      time of such exercise. 

     

    
      
         

      

      
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    In
      the
      event of any exercise of the rights represented by this Warrant in compliance
      with this Section 2, the Company shall on or before the fifth (5th)
      Business Day following the date of receipt of the Exercise Notice, the Aggregate
      Exercise Price and this Warrant (or an indemnification undertaking with respect
      to this Warrant in the case of its loss, theft or destruction) and the receipt
      of the representations of the holder specified in Section 6 hereof, if requested
      by the Company (the “Exercise
      Delivery Documents”),
      and
      if the Common Stock is DTC eligible, credit such aggregate number of shares
      of
      Common Stock to which the holder shall be entitled to the holder’s or its
      designee’s balance account with The Depository Trust Company; provided, however,
      if the holder who submitted the Exercise Notice requested physical delivery
      of
      any or all of the Warrant Shares, or, if the Common Stock is not DTC eligible
      then the Company shall, on or before the fifth (5th)
      Business Day following receipt of the Exercise Delivery Documents, issue and
      surrender to a common carrier for overnight delivery to the address specified
      in
      the Exercise Notice, a certificate, registered in the name of the holder, for
      the number of shares of Common Stock to which the holder shall be entitled
      pursuant to such request. Upon delivery of the Exercise Notice and Aggregate
      Exercise Price referred to in clause (i) or (ii) above the holder of this
      Warrant shall be deemed for all corporate purposes to have become the holder
      of
      record of the Warrant Shares with respect to which this Warrant has been
      exercised. In the case of a dispute as to the determination of the Warrant
      Exercise Price, the Closing Bid Price or the arithmetic calculation of the
      Warrant Shares, the Company shall promptly issue to the holder the number of
      Warrant Shares that is not disputed and shall submit the disputed determinations
      or arithmetic calculations to the holder via facsimile within one (1) Business
      Day of receipt of the holder’s Exercise Notice. 

     

    (b) If
      the
      holder and the Company are unable to agree upon the determination of the Warrant
      Exercise Price or arithmetic calculation of the Warrant Shares within one (1)
      day of such disputed determination or arithmetic calculation being submitted
      to
      the holder, then the Company shall immediately submit via facsimile (i) the
      disputed determination of the Warrant Exercise Price or the Closing Bid Price
      to
      an independent, reputable investment banking firm or (ii) the disputed
      arithmetic calculation of the Warrant Shares to its independent, outside
      accountant. The Company shall cause the investment banking firm or the
      accountant, as the case may be, to perform the determinations or calculations
      and notify the Company and the holder of the results no later than forty-eight
      (48) hours from the time it receives the disputed determinations or
      calculations. Such investment banking firm’s or accountant’s determination or
      calculation, as the case may be, shall be deemed conclusive absent manifest
      error.

     

    (c) Unless
      the rights represented by this Warrant shall have expired or shall have been
      fully exercised, the Company shall, as soon as practicable and in no event
      later
      than five (5) Business Days after any exercise and at its own expense, issue
      a
      new Warrant identical in all respects to this Warrant exercised except it shall
      represent rights to purchase the number of Warrant Shares purchasable
      immediately prior to such exercise under this Warrant exercised, less the number
      of Warrant Shares with respect to which such Warrant is exercised.

     

    (d) No
      fractional Warrant Shares are to be issued upon any pro rata exercise of this
      Warrant, but rather the number of Warrant Shares issued upon such exercise
      of
      this Warrant shall be rounded up or down to the nearest whole
      number.

     

    (e) If
      the
      Company or its Transfer Agent shall fail for any reason or for no reason to
      issue to the holder within ten (10) days of receipt of the Exercise
      Delivery Documents, a certificate for the number of Warrant Shares to which
      the
      holder is entitled or to credit the holder’s balance account with The Depository
      Trust Company for such number of Warrant Shares to which the holder is entitled
      upon the holder’s exercise of this Warrant, the Company shall, in addition to
      any other remedies under this Warrant or otherwise available to such holder,
      pay
      as additional damages in cash to such holder on each day the issuance of such
      certificate for Warrant Shares is not timely effected an amount equal to 0.025%
      of the product of (A) the sum of the number of Warrant Shares not issued to
      the
      holder on a timely basis and to which the holder is entitled, and (B) the
      Closing Bid Price of the Common Stock for the trading day immediately preceding
      the last possible date which the Company could have issued such Common Stock
      to
      the holder without violating this Section 2.

     

    (f) If
      within
      ten (10) days after the Company’s receipt of the Exercise Delivery Documents,
      the Company fails to deliver a new Warrant to the holder for the number of
      Warrant Shares to which such holder is entitled pursuant to Section 2 hereof,
      then, in addition to any other available remedies under this Warrant, or
      otherwise available to such holder, the Company shall pay as additional damages
      in cash to such holder on each day after such tenth (10th)
      day
      that such delivery of such new Warrant is not timely effected in an amount
      equal
      to 0.25% of the product of (A) the number of Warrant Shares represented by
      the portion of this Warrant which is not being exercised and (B) the
      Closing Bid Price of the Common Stock for the trading day immediately preceding
      the last possible date which the Company could have issued such Warrant to
      the
      holder without violating this Section 2.

     

    
      
         

      

      
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    Section
      3. Covenants
      as to Common Stock.
      The
      Company hereby covenants and agrees as follows:

     

    (a) This
      Warrant is, and any Warrants issued in substitution for or replacement of this
      Warrant will upon issuance be, duly authorized and validly issued.

     

    (b) All
      Warrant Shares which may be issued upon the exercise of the rights represented
      by this Warrant will, upon issuance, be validly issued, fully paid and
      nonassessable and free from all taxes, liens and charges with respect to the
      issue thereof.

     

    (c) During
      the period within which the rights represented by this Warrant may be exercised,
      the Company will at all times have authorized and reserved at least one hundred
      percent (100%) of the number of shares of Common Stock needed to provide for
      the
      exercise of the rights then represented by this Warrant and the par value of
      said shares will at all times be less than or equal to the applicable Warrant
      Exercise Price. If at any time the Company does not have a sufficient number
      of
      shares of Common Stock authorized and available, then the Company shall call
      and
      hold a special meeting of its stockholders within sixty (60) days of that
      time for the sole purpose of increasing the number of authorized shares of
      Common Stock.

     

    (d) If
      at any
      time after the date hereof the Company shall file a registration statement,
      the
      Company shall include the Warrant Shares issuable to the holder if not already
      covered by a resale registration statement or saleable pursuant to Rule 144
      (k),
      pursuant to the terms of this Warrant and shall maintain, so long as any other
      shares of Common Stock shall be listed on a Principal Market, such listing
      of
      all Warrant Shares from time to time issuable upon the exercise of this Warrant;
      and the Company shall so list on each national securities exchange or automated
      quotation system, as the case may be, and shall maintain such listing of, any
      other shares of capital stock of the Company issuable upon the exercise of
      this
      Warrant if and so long as any shares of the same class shall be listed on such
      national securities exchange or automated quotation system.

     

    (e) The
      Company will not, by amendment of its Articles of Incorporation or through
      any
      reorganization, transfer of assets, consolidation, merger, dissolution, issue
      or
      sale of securities, or any other voluntary action, avoid or seek to avoid the
      observance or performance of any of the terms to be observed or performed by
      it
      hereunder, but will at all times in good faith assist in the carrying out of
      all
      the provisions of this Warrant and in the taking of all such action as may
      reasonably be requested by the holder of this Warrant in order to protect the
      exercise privilege of the holder of this Warrant against impairment, consistent
      with the tenor and purpose of this Warrant. The Company will not increase the
      par value of any shares of Common Stock receivable upon the exercise of this
      Warrant above the Warrant Exercise Price then in effect, and (ii) will take
      all such actions as may be necessary or appropriate in order that the Company
      may validly and legally issue fully paid and nonassessable shares of Common
      Stock upon the exercise of this Warrant.

     

    (f) This
      Warrant will be binding upon any entity succeeding to the Company by merger,
      consolidation or acquisition of all or substantially all of the Company’s
      assets.

     

    Section
      4. Taxes.
      The
      Company shall pay any and all taxes, except any applicable withholding or
      transfer taxes, which may be payable with respect to the issuance and delivery
      of Warrant Shares upon exercise of this Warrant.

     

    Section
      5. Warrant
      Holder Not Deemed a Stockholder.
      Except
      as otherwise specifically provided herein, no holder, as such, of this Warrant
      shall be entitled to vote or receive dividends or be deemed the holder of shares
      of capital stock of the Company for any purpose, nor shall anything contained
      in
      this Warrant be construed to confer upon the holder hereof, as such, any of
      the
      rights of a stockholder of the Company or any right to vote, give or withhold
      consent to any corporate action (whether any reorganization, issue of stock,
      reclassification of stock, consolidation, merger, conveyance or otherwise),
      receive notice of meetings, receive dividends or subscription rights, or
      otherwise, prior to the issuance to the holder of this Warrant of the Warrant
      Shares which he or she is then entitled to receive upon the due exercise of
      this
      Warrant. In addition, nothing contained in this Warrant shall be construed
      as
      imposing any liabilities on such holder to purchase any securities (upon
      exercise of this Warrant or otherwise) or as a stockholder of the Company,
      whether such liabilities are asserted by the Company or by creditors of the
      Company. Notwithstanding this Section 5, the Company will provide the holder
      of
      this Warrant with copies of the same notices and other information given to
      the
      stockholders of the Company generally, contemporaneously with the giving thereof
      to the stockholders.

     

    
      
         

      

      
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    Section
      6. Representations
      of Holder.
      The
      holder of this Warrant, by the acceptance hereof, represents that it is
      acquiring this Warrant and the Warrant Shares for its own account for investment
      only and not with a view towards, or for resale in connection with, the public
      sale or distribution of this Warrant or the Warrant Shares, except pursuant
      to
      sales registered or exempted under the Securities Act; provided, however, that
      by making the representations herein, the holder does not agree to hold this
      Warrant or any of the Warrant Shares for any minimum or other specific term
      and
      reserves the right to dispose of this Warrant and the Warrant Shares at any
      time
      in accordance with or pursuant to a registration statement or an exemption
      under
      the Securities Act. The holder of this Warrant further represents, by acceptance
      hereof, that, as of this date, such holder is an “accredited investor” as such
      term is defined in Rule 501(a)(1) of Regulation D promulgated by the
      Securities and Exchange Commission under the Securities Act (an “Accredited
      Investor”).
      Upon
      exercise of this Warrant the holder shall, if requested by the Company, confirm
      in writing, in a form satisfactory to the Company, that the Warrant Shares
      so
      purchased are being acquired solely for the holder’s own account and not as a
      nominee for any other party, for investment, and not with a view toward
      distribution or resale and that such holder is an Accredited Investor. If such
      holder cannot make such representations because they would be factually
      incorrect, it shall be a condition to such holder’s exercise of this Warrant
      that the Company receive such other representations as the Company considers
      reasonably necessary to assure the Company that the issuance of its securities
      upon exercise of this Warrant shall not violate any United States or state
      securities laws.

     

    Section
      7. Ownership
      and Transfer.

     

    (a) The
      Company shall maintain at its principal executive offices (or such other office
      or agency of the Company as it may designate by notice to the holder hereof),
      a
      register for this Warrant, in which the Company shall record the name and
      address of the person in whose name this Warrant has been issued, as well as
      the
      name and address of each transferee. The Company may treat the person in whose
      name any Warrant is registered on the register as the owner and holder thereof
      for all purposes, notwithstanding any notice to the contrary, but in all events
      recognizing any transfers made in accordance with the terms of this
      Warrant.

     

    Section
      8. Adjustment
      of Warrant Exercise Price and Number of Shares.
      The
      Warrant Exercise Price and the number of shares of Common Stock issuable upon
      exercise of this Warrant shall be adjusted from time to time as
      follows:

     

    (a) Adjustment
      of Warrant Exercise Price and Number of Shares upon Issuance of Common
      Stock.
      If and
      whenever on or after the Issuance Date of this Warrant, the Company issues
      or
      sells, or is deemed to have issued or sold, any shares of Common
      Stock (other than Excluded Securities) for a consideration per share less
      than a price (the “Applicable
      Price”)
      equal
      to the Warrant Exercise Price in effect immediately prior to such issuance
      or
      sale, then immediately after such issue or sale the Warrant Exercise Price
      then
      in effect shall be reduced to an amount equal to such consideration per share.
      Upon each such adjustment of the Warrant Exercise Price hereunder, the number
      of
      Warrant Shares issuable upon exercise of this Warrant shall be adjusted to
      the
      number of shares determined by multiplying the Warrant Exercise Price in effect
      immediately prior to such adjustment by the number of Warrant Shares issuable
      upon exercise of this Warrant immediately prior to such adjustment and dividing
      the product thereof by the Warrant Exercise Price resulting from such
      adjustment.

     

    (b) Effect
      on Warrant Exercise Price of Certain Events.
      For
      purposes of determining the adjusted Warrant Exercise Price under Section 8(a)
      above, the following shall be applicable:

     

    (i) Issuance
      of Options.
      If
      after the date hereof, the Company in any manner grants any Options (other
      than
      options granted pursuant a qualified employee stock option plan approved by
      the
      Company’s Board of Directors and shareholders) and the lowest price per share
      for which one share of Common Stock is issuable upon the exercise of any such
      Option or upon conversion or exchange of any convertible securities issuable
      upon exercise of any such Option is less than the Applicable Price, then such
      share of Common Stock shall be deemed to be outstanding and to have been issued
      and sold by the Company at the time of the granting or sale of such Option
      for
      such price per share. For purposes of this Section 8(b)(i), the lowest price
      per
      share for which one share of Common Stock is issuable upon exercise of such
      Options or upon conversion or exchange of such Convertible Securities shall
      be
      equal to the sum of the lowest amounts of consideration (if any) received or
      receivable by the Company with respect to any one share of Common Stock upon
      the
      granting or sale of the Option, upon exercise of the Option or upon conversion
      or exchange of any convertible security issuable upon exercise of such Option.
      No further adjustment of the Warrant Exercise Price shall be made upon the
      actual issuance of such Common Stock or of such convertible securities upon
      the
      exercise of such Options or upon the actual issuance of such Common Stock upon
      conversion or exchange of such convertible securities. However, upon the
      expiration of any such option the issuance of which resulted in an adjustment
      in
      the Warrant Exercise Price pursuant to this Section, if any such option shall
      expire and shall not have been exercised, the Warrant Exercise Price shall
      immediately upon such expiration be recomputed and effective immediately upon
      such expiration be increased to the price which it would have been (but
      reflecting any other adjustments in the Warrant Exercise Price made pursuant
      to
      the provisions of this Section after the issuance of such options) had the
      adjustment of the Warrant Exercise Price made upon the issuance of such Options
      been made on the basis of offering for subscription or purchase on that number
      of shares of the Common Stock actually purchased upon the exercise of such
      Options.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    (ii) Issuance
      of Convertible Securities.
      If the
      Company in any manner issues or sells any convertible securities and the lowest
      price per share for which one share of Common Stock is issuable upon the
      conversion or exchange thereof is less than the Applicable Price, then such
      share of Common Stock shall be deemed to be outstanding and to have been issued
      and sold by the Company at the time of the issuance or sale of such convertible
      securities for such price per share. For the purposes of this
      Section 8(b)(ii), the lowest price per share for which one share of Common
      Stock is issuable upon such conversion or exchange shall be equal to the sum
      of
      the lowest amounts of consideration (if any) received or receivable by the
      Company with respect to one share of Common Stock upon the issuance or sale
      of
      the convertible security and upon conversion or exchange of such convertible
      security. No further adjustment of the Warrant Exercise Price shall be made
      upon
      the actual issuance of such Common Stock upon conversion or exchange of such
      convertible securities, and if any such issue or sale of such convertible
      securities is made upon exercise of any Options for which adjustment of the
      Warrant Exercise Price had been or are to be made pursuant to other provisions
      of this Section 8(b), no further adjustment of the Warrant Exercise Price shall
      be made by reason of such issue or sale. However, upon the expiration of any
      such conversion or exchange right, if any such conversion or exchange right,
      shall expire and shall not have been exercised, the Warrant Exercise Price
      shall
      immediately upon such expiration be recomputed and effective immediately upon
      such expiration be increased to the price which it would have been ( but
      reflecting any other adjustments in the Warrant Exercise Price made pursuant
      to
      the provisions of this Section after the issuance of such Convertible
      Securities) had the adjustment of the Warrant Exercise Price made upon the
      issuance of such Convertible Securities been made on the basis of offering
      for
      subscription or purchase only that number of shares of the Common Stock actually
      purchased upon conversion or exchange of such Convertible Securities actually
      converted or exchanged.

     

    (iii) Change
      in Option Price or Rate of Conversion.
      If the
      purchase price provided for in any Options, the additional consideration, if
      any, payable upon the issue, conversion or exchange of any convertible
      securities, or the rate at which any convertible securities are convertible
      into
      or exchangeable for Common Stock changes at any time, the Warrant Exercise
      Price
      in effect at the time of such change shall be adjusted to the Warrant Exercise
      Price which would have been in effect at such time had such Options or
      convertible securities provided for such changed purchase price, additional
      consideration or changed conversion rate, as the case may be, at the time
      initially granted, issued or sold and the number of Warrant Shares issuable
      upon
      exercise of this Warrant shall be correspondingly readjusted. For purposes
      of
      this Section 8(b)(iii), if the terms of any Option or convertible security
      that
      was outstanding as of the Issuance Date of this Warrant are changed in the
      manner described in the immediately preceding sentence, then such Option or
      convertible security and the Common Stock deemed issuable upon exercise,
      conversion or exchange thereof shall be deemed to have been issued as of the
      date of such change. No adjustment pursuant to this Section 8(b) shall be
      made if such adjustment would result in an increase of the Warrant Exercise
      Price then in effect.

     

    (iv) Calculation
      of Consideration Received.
      If any
      Common Stock, Options or convertible securities are issued or sold or deemed
      to
      have been issued or sold for cash, the consideration received therefore will
      be
      deemed to be the net amount received by the Company therefore. If any Common
      Stock, Options or convertible securities are issued or sold for a consideration
      other than cash, the amount of such consideration received by the Company will
      be the fair value of such consideration, except where such consideration
      consists of marketable securities, in which case the amount of consideration
      received by the Company will be the market price of such securities on the
      date
      of receipt of such securities. If any Common Stock, Options or convertible
      securities are issued to the owners of the non-surviving entity in connection
      with any merger in which the Company is the surviving entity (in the event
      that
      such securities are not Excluded Securities), the amount of consideration
      therefore will be deemed to be the fair value of such portion of the net assets
      and business of the non-surviving entity as is attributable to such Common
      Stock, Options or convertible securities, as the case may be. The fair value
      of
      any consideration other than cash or securities will be determined jointly
      by
      the Company and the holders of Warrants representing at least two-thirds (b)
      of
      the Warrant Shares issuable upon exercise of the Warrants then outstanding.
      If
      such parties are unable to reach agreement within ten (10) days after the
      occurrence of an event requiring valuation (the “Valuation
      Event”),
      the
      fair value of such consideration will be determined within five (5) Business
      Days after the tenth (10th)
      day
      following the Valuation Event by an independent, reputable appraiser jointly
      selected by the Company and the holders of Warrants representing at least
      two-thirds (b) of the Warrant Shares issuable upon exercise of the Warrants
      then
      outstanding. The determination of such appraiser shall be final and binding
      upon
      all parties and the fees and expenses of such appraiser shall be borne jointly
      by the Company and the holders of Warrants.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    (v) Integrated
      Transactions.
      In case
      any Option is issued in connection with the issue or sale of other securities
      of
      the Company, together comprising one integrated transaction in which no specific
      consideration is allocated to such Options by the parties thereto, the Options
      will be deemed to have been issued for a consideration of $.01.

     

    (vi) Treasury
      Shares.
      The
      number of shares of Common Stock outstanding at any given time does not include
      shares owned or held by or for the account of the Company, and the disposition
      of any shares so owned or held will be considered an issue or sale of Common
      Stock.

     

    (vii) Record
      Date.
      If the
      Company takes a record of the holders of Common Stock for the purpose of
      entitling them (1) to receive a dividend or other distribution payable in
      Common Stock, Options or in convertible securities or (2) to subscribe for
      or purchase Common Stock, Options or convertible securities, then such record
      date will be deemed to be the date of the issue or sale of the shares of Common
      Stock deemed to have been issued or sold upon the declaration of such dividend
      or the making of such other distribution or the date of the granting of such
      right of subscription or purchase, as the case may be, provided that the
      dividend, distribution or granting of such rights is thereafter actually paid
      or
      made.

     

    (c) Adjustment
      of Warrant Exercise Price upon Subdivision or Combination of Common
      Stock.
      If the
      Company at any time after the date of issuance of this Warrant subdivides (by
      any stock split, stock dividend, recapitalization or otherwise) one or more
      classes of its outstanding shares of Common Stock into a greater number of
      shares, any Warrant Exercise Price in effect immediately prior to such
      subdivision will be proportionately reduced and the number of shares of Common
      Stock obtainable upon exercise of this Warrant will be proportionately
      increased. If the Company at any time after the date of issuance of this Warrant
      combines (by combination, reverse stock split or otherwise) one or more classes
      of its outstanding shares of Common Stock into a smaller number of shares,
      any
      Warrant Exercise Price in effect immediately prior to such combination will
      be
      proportionately increased and the number of Warrant Shares issuable upon
      exercise of this Warrant will be proportionately decreased. Any adjustment
      under
      this Section 8(c) shall become effective at the close of business on the
      date the subdivision or combination becomes effective.

     

    (d) Distribution
      of Assets.
      If the
      Company shall declare or make any dividend or other distribution of its assets
      (or rights to acquire its assets) to holders of Common Stock, by way of return
      of capital or otherwise (including, without limitation, any distribution of
      cash, stock or other securities, property or options by way of a dividend,
      spin
      off, reclassification, corporate rearrangement or other similar transaction)
      (a
“Distribution”),
      at
      any time after the issuance of this Warrant, then, in each such
      case:

     

    (i) any
      Warrant Exercise Price in effect immediately prior to the close of business
      on
      the record date fixed for the determination of holders of Common Stock
      entitled to
      receive the Distribution shall be reduced, effective as of the close of business
      on such record date, to a price determined by multiplying such Warrant Exercise
      Price by a fraction of which (A) the numerator shall be the Closing Sale Price
      of the Common Stock on the trading day immediately preceding such record date
      minus the value of the Distribution (as determined in good faith by the
      Company’s Board of Directors) applicable to one share of Common Stock, and (B)
      the denominator shall be the Closing Sale Price of the Common Stock on the
      trading day immediately preceding such record date; and

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    (ii) either
      (A) the number of Warrant Shares obtainable upon exercise of this Warrant shall
      be increased to a number of shares equal to the number of shares of Common
      Stock
      obtainable immediately prior to the close of business on the record date fixed
      for the determination of holders of Common Stock entitled to receive the
      Distribution multiplied by the reciprocal of the fraction set forth in the
      immediately preceding clause (i), or (B) in the event that the Distribution
      is
      of common stock of a company whose common stock is traded on a national
      securities exchange or a national automated quotation system, then the holder
      of
      this Warrant shall receive an additional warrant to purchase Common Stock,
      the
      terms of which shall be identical to those of this Warrant, except that such
      warrant shall be exercisable into the amount of the assets that would have
      been
      payable to the holder of this Warrant pursuant to the Distribution had the
      holder exercised this Warrant immediately prior to such record date and with
      an
      exercise price equal to the amount by which the exercise price of this Warrant
      was decreased with respect to the Distribution pursuant to the terms of the
      immediately preceding clause (i).

     

    (e) Certain
      Events.
      If any
      event occurs of the type contemplated by the provisions of this Section 8
      but not expressly provided for by such provisions (including, without
      limitation, the granting of stock appreciation rights, phantom stock rights
      or
      other rights with equity features), then the Company’s Board of Directors will
      make an appropriate adjustment in the Warrant Exercise Price and the number
      of
      shares of Common Stock obtainable upon exercise of this Warrant so as to protect
      the rights of the holders of the Warrants; provided, except as set forth in
      section 8(c),that no such adjustment pursuant to this Section 8(e) will increase
      the Warrant Exercise Price or decrease the number of shares of Common Stock
      obtainable as otherwise determined pursuant to this Section 8.

     

    (f) Notices.

     

    (i) Immediately
      upon any adjustment of the Warrant Exercise Price, the Company will give written
      notice thereof to the holder of this Warrant, setting forth in reasonable
      detail, and certifying, the calculation of such adjustment.

     

    (ii) The
      Company will give written notice to the holder of this Warrant at least ten
      (10)
      days prior to the date on which the Company closes its books or takes a record
      (A) with respect to any dividend or distribution upon the Common Stock,
      (B) with respect to any pro rata subscription offer to holders of Common
      Stock or (C) for determining rights to vote with respect to any Organic
      Change (as defined below), dissolution or liquidation, provided that such
      information shall be made known to the public prior to or in conjunction with
      such notice being provided to such holder.

     

    (iii) The
      Company will also give written notice to the holder of this Warrant at least
      ten
      (10) days prior to the date on which any Organic Change, dissolution or
      liquidation will take place, provided that such information shall be made known
      to the public prior to or in conjunction with such notice being provided to
      such
      holder.

     

    Section
      9. Purchase
      Rights; Reorganization, Reclassification, Consolidation, Merger or
      Sale.

     

    (a) In
      addition to any adjustments pursuant to Section 8 above, if at any time the
      Company grants, issues or sells any Options, Convertible Securities or rights
      to
      purchase stock, warrants, securities or other property pro rata to the record
      holders of any class of Common Stock (the “Purchase
      Rights”),
      then
      the holder of this Warrant will be entitled to acquire, upon the terms
      applicable to such Purchase Rights, the aggregate Purchase Rights which such
      holder could have acquired if such holder had held the number of shares of
      Common Stock acquirable upon complete exercise of this Warrant immediately
      before the date on which a record is taken for the grant, issuance or sale
      of
      such Purchase Rights, or, if no such record is taken, the date as of which
      the
      record holders of Common Stock are to be determined for the grant, issue or
      sale
      of such Purchase Rights.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    (b) Any
      recapitalization, reorganization, reclassification, consolidation, merger,
      sale
      of all or substantially all of the Company’s assets to another Person or other
      transaction in each case which is effected in such a way that holders of Common
      Stock are entitled to receive (either directly or upon subsequent liquidation)
      stock, securities or assets with respect to or in exchange for Common Stock
      is
      referred to herein as an “Organic
      Change.”
Prior
      to the consummation of any (i) sale of all or substantially all of the Company’s
      assets to an acquiring Person or (ii) other Organic Change following which
      the
      Company is not a surviving entity, the Company will secure from the Person
      purchasing such assets or the successor resulting from such Organic Change
      (in
      each case, the “Acquiring
      Entity”)
      a
      written agreement (in form and substance satisfactory to the holders of Warrants
      representing at least two-thirds (iii) of the Warrant Shares issuable upon
      exercise of the Warrants then outstanding) to deliver to each holder of Warrants
      in exchange for such Warrants, a security of the Acquiring Entity evidenced
      by a
      written instrument substantially similar in form and substance to this Warrant
      and satisfactory to the holders of the Warrants (including an adjusted warrant
      exercise price equal to the value for the Common Stock reflected by the terms
      of
      such consolidation, merger or sale, and exercisable for a corresponding number
      of shares of Common Stock acquirable and receivable upon exercise of the
      Warrants without regard to any limitations on exercise, if the value so
      reflected is less than any Applicable Warrant Exercise Price immediately prior
      to such consolidation, merger or sale). Prior to the consummation of any other
      Organic Change, the Company shall make appropriate provision (in form and
      substance satisfactory to the holders of Warrants representing a
      majority of
      the
      Warrant Shares issuable upon exercise of the Warrants then outstanding) to
      insure that each of the holders of the Warrants will thereafter have the right
      to acquire and receive in lieu of or in addition to (as the case may be) the
      Warrant Shares immediately theretofore issuable and receivable upon the exercise
      of such holder’s Warrants (without regard to any limitations on exercise),
      such shares of stock, securities or assets that would have been issued or
      payable in such Organic Change with respect to or in exchange for the number
      of
      Warrant Shares which would have been issuable and receivable upon the exercise
      of such holder’s Warrant as of the date of such Organic Change (without taking
      into account any limitations or restrictions on the exercisability of this
      Warrant).

     

    Section
      10. Lost,
      Stolen, Mutilated or Destroyed Warrant.
      If this
      Warrant is lost, stolen, mutilated or destroyed, the Company shall promptly,
      on
      receipt of an indemnification undertaking (or, in the case of a mutilated
      Warrant, the Warrant), issue a new Warrant of like denomination and tenor as
      this Warrant so lost, stolen, mutilated or destroyed.

     

    Section
      11. Notice.
      Any
      notices, consents, waivers or other communications required or permitted to
      be
      given under the terms of this Warrant must be in writing and will be deemed
      to
      have been delivered: (i) upon receipt, when delivered personally;
      (ii) upon receipt, when sent by facsimile (provided confirmation of receipt
      is received by the sending party transmission is mechanically or electronically
      generated and kept on file by the sending party); or (iii) one Business Day
      after deposit with a nationally recognized overnight delivery service, in each
      case properly addressed to the party to receive the same. The addresses and
      facsimile numbers for such communications shall be:

     

    
      	
              If
                to Holder:

            	 
	 	 
	 	
              Attention: 

            
	 	
              Telephone: 

            
	 	
              Facsimile: 

            
	 	 
	
              With
                Copy to:

            	 
	 	 
	 	
              Telephone: 

            
	 	
              Facsimile: 

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    
      	
              If
                to the Company, to:

            	
              Dot
                VN, Inc.

            
	 	 
	 	
              Attention:
                

            
	 	
              Telephone: 

            
	 	
              Facsimile: 

            
	 	 
	
              With
                a copy to:

            	 
	 	 
	 	
              Attention:
                

            
	 	
              Telephone:
                

            
	 	
              Facsimile:
                

            

    

    

    If
      to a
      holder of this Warrant, to it at the address and facsimile number set forth
      on
Exhibit C
      hereto,
      with copies to such holder’s representatives as set forth on Exhibit C,
      or at
      such other address and facsimile as shall be delivered to the Company upon
      the
      issuance or transfer of this Warrant. Each party shall provide five days’ prior
      written notice to the other party of any change in address or facsimile number.
      Written confirmation of receipt (A) given by the recipient of such notice,
      consent, facsimile, waiver or other communication, (or (B) provided by a
      nationally recognized overnight delivery service shall be rebuttable evidence
      of
      personal service, receipt by facsimile or receipt from a nationally recognized
      overnight delivery service in accordance with clause (i), (ii) or (iii) above,
      respectively.

     

    Section
      12. Date.
      The
      date of this Warrant is set forth on page 1 hereof. This Warrant, in all
      events, shall be wholly void and of no effect after the close of business on
      the
      Expiration Date.

     

    Section
      13. Amendment
      and Waiver.
      Except
      as otherwise provided herein, the provisions of the Warrants may be amended
      and
      the Company may take any action herein prohibited, or omit to perform any act
      herein required to be performed by it, only if the Company has obtained the
      written consent of the holders of Warrants representing at least two-thirds
      of
      the Warrant Shares issuable upon exercise of the Warrants then outstanding;
      provided that, except for Section 8(d), no such action may increase the Warrant
      Exercise Price or decrease the number of shares or class of stock obtainable
      upon exercise of any Warrant without the written consent of the holder of such
      Warrant.

     

    Section
      14. Descriptive
      Headings; Governing Law.
      The
      descriptive headings of the several sections and paragraphs of this Warrant
      are
      inserted for convenience only and do not constitute a part of this Warrant.
      The
      corporate laws of the State of Delaware shall govern all issues concerning
      the
      relative rights of the Company and its stockholders. All other questions
      concerning the construction, validity, enforcement and interpretation of this
      Agreement shall be governed by the internal laws of the State of New York,
      without giving effect to any choice of law or conflict of law provision or
      rule
      (whether of the State of New York or any other jurisdictions) that would cause
      the application of the laws of any jurisdictions other than the State of New
      York. Each party hereby irrevocably submits to the exclusive jurisdiction of
      the
      state and federal courts sitting in the City of New York, borough of Manhattan
      for the adjudication of any dispute hereunder or in connection herewith or
      therewith, or with any transaction contemplated hereby or discussed herein,
      and
      hereby irrevocably waives, and agrees not to assert in any suit, action or
      proceeding, any claim that it is not personally subject to the jurisdiction
      of
      any such court, that such suit, action or proceeding is brought in an
      inconvenient forum or that the venue of such suit, action or proceeding is
      improper. Each party hereby irrevocably waives personal service of process
      and
      consents to process being served in any such suit, action or proceeding by
      mailing a copy thereof to such party at the address for such notices to it
      under
      this Agreement and agrees that such service shall constitute good and sufficient
      service of process and notice thereof. Nothing contained herein shall be deemed
      to limit in any way any right to serve process in any manner permitted by law.
      

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    Section
      15. Waiver
      of Jury Trial.
      AS
      A MATERIAL INDUCEMENT FOR EACH PARTY HERETO TO ENTER INTO THIS WARRANT, THE
      PARTIES HERETO HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
      RELATED IN ANY WAY TO THIS WARRANT AND/OR ANY AND ALL OF THE OTHER DOCUMENTS
      ASSOCIATED WITH THIS TRANSACTION.

     

    REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK

    
      
         

      

      
        12

        
          

        

      

       

    

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Warrant to be signed as of the date first set forth
      above.

     

    
      	 	
              DOT
                VN, INC.

            
	 	 
	 	
              By:
                /s/   

            
	 	
              
                

              

              Name: 

            
	 	
              Title: 

            

    

     

    
      
         

      

      
        13

        
          

        

      

       

    

     

    EXHIBIT
      A TO WARRANT

     

    EXERCISE
      NOTICE

     

    TO
      BE EXECUTED

    BY
      THE REGISTERED HOLDER TO EXERCISE THIS WARRANT

     

    DOT
      VN, INC.

     

    The
      undersigned holder hereby exercises the right to purchase ______________ of
      the
      shares of Common Stock (“Warrant
      Shares”)
      of Dot
      VN, Inc. (the “Company”),
      evidenced by the attached Warrant (the “Warrant”).
      Capitalized terms used herein and not otherwise defined shall have the
      respective meanings set forth in the Warrant.

     

    Specify
      Method of exercise by check mark:

     

    1.
      ___ Cash
      Exercise

     

    (a)
      Payment
      of Warrant Exercise Price.
      The
      holder shall pay the Aggregate Exercise Price of $______________ to the Company
      in accordance with the terms of the Warrant. 

     

    (b)
      Delivery
      of Warrant Shares.
      The
      Company shall deliver to the holder _________
      Warrant
      Shares in accordance with the terms of the Warrant. 

     

    2.
      ___ Cashless
      Exercise

     

    (a)
      Payment
      of Warrant Exercise Price.
      In lieu
      of making payment of the Aggregate Exercise Price, the holder elects to receive
      upon such exercise the Net Number of shares of Common Stock determined in
      accordance with the terms of the Warrant. 

     

    (b)
      Delivery
      of Warrant Shares.
      The
      Company shall deliver to the holder _________
      Warrant
      Shares in accordance with the terms of the Warrant. 

     

    
      	
              Date:
                _______________ __, ______

            	 	 	 
	 	 	 	 
	
              Name
                of Registered Holder

            	 	 	 
	 	 	 	 
	 	 	 	 
	
              By:

            	 	 	
            
	
              
                

              

              Name:

            	 	 	
            
	
              
                

              

              Title:

            	 	 	
            
	
              
                

              

            	 	 	 

    

     

    
      
         

      

      
         

        
          

        

      

       

    

     

    EXHIBIT
      B TO WARRANT

     

    FORM
      OF WARRANT POWER

     

    FOR
      VALUE RECEIVED,
      the
      undersigned does hereby assign and transfer to ________________, Federal
      Identification No. __________, a warrant to purchase ____________ shares of
      the capital stock of Dot VN, Inc. represented by warrant certificate
      no. _____, standing in the name of the undersigned on the books of said
      corporation. The undersigned does hereby irrevocably constitute and appoint
      ______________, attorney to transfer the warrants of said corporation, with
      full
      power of substitution in the premises.

     

    
      	
              Dated:      

            	 	 
	
              
                
 

            	 	 
	 	 	
              By:      

            
	 	 	
              
                

              

              Name:      

            
	 	 	
              
                

              

              Title:      

            
	 	 	
              
                

              

            

    

     

    
      
         

      

      
        B-1EXHIBIT
      10.1

    

    EXECUTIVE
      EMPLOYMENT AGREEMENT

     

    This
      Executive Employment Agreement dated as of October 9, 2006 (“Agreement”)
      is
      made by and between Dot
      VN, Inc.,
      a
      corporation duly organized and existing under the laws of the State of Delaware
      (the “Company”),
      and
Lee
      Johnson
      (“Executive”)
      (referred to collectively herein as the “Parties”).

     

    RECITALS

     

    
      	A.  	
              WHEREAS,
                Executive is a co-founder of Company, serving as its President and
                Chief
                Technical Officer, and one of Company’s “key men”;
                and

            

    

     

    
      	B.  	
              WHEREAS,
                Executive currently sits on the Company’s Board of Directors;
                and

            

    

     

    
      	C.  	
              WHEREAS,
                Company desires to retain Executive's services, to formalize its
                employment agreement with him, and to demonstrate its appreciation
                for his
                efforts; and

            

    

     

    
      	D.  	
              WHEREAS,
                Company and the Executive wish to clarify their respective rights
                concerning the Executive's employment relationship with
                Company.

            

    

     

    NOW,
      THEREFORE,
      in
      consideration of the premises and the mutual covenants and promises contained
      herein, and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto hereby agree
      as
      follows:

     

    1.  Nature
      of Agreement.
      Any
      and
      all prior oral understandings, offers, and/or representations (if any) with
      respect to the employment of Executive are deemed by the parties to be either
      canceled and void and/or are deemed to be superseded by this final written
      Agreement.

     

    2.  Employment
      Terms and Duties.

     

    2.1.  Term
      of Employment.
      The
      employment of Executive under this Agreement shall be deemed to have commenced
      on October 1, 2006, and shall continue until terminated in accordance with
      Section 6 hereof (the “Employment
      Term”).
      

     

    2.2.  Location.
      Executive agrees that he shall carry out his duties and obligations under the
      terms of this Agreement at the Company’s principal office in San Diego,
      California and at such place or places as Company shall reasonably designate
      or
      as shall be reasonably appropriate and necessary in connection with such
      employment. 

     

    2.3.  Position
      and Primary Responsibility.

     

    
      	a)  	
              It
                is understood that Executive shall serve as President and Chief Technical
                Officer for the Company with all powers and obligations associates
                with
                such position as set forth in the Bylaws of the Corporation.
                Contemporaneously with the execution and delivery of this Agreement,
                the
                Company shall effectuate all such actions as shall be required to
                procure
                the appointment of Executive as President and Chief Technical Officer
                of
                the Company.

            

    

     

    The
      Company agrees that, during the Employment Term, neither the Restated
      Certificate of Incorporation, nor the Bylaws, of the Company shall at any time
      be amended in a manner inconsistent with the foregoing or the additional
      provisions of this Agreement. 

     

    2.4 Best
      Efforts.
      Executive agrees to devote his his best efforts to the performance of
      Executive’s duties hereunder and to the business and affairs of Company.. This
      Agreement shall not be interpreted to prohibit Executive from making passive
      personal investments or conducting private business affairs, or serving on
      the
      boards of directors of other companies or other entities, if those activities
      do
      not materially interfere with the services required under this Agreement and
      do
      not violate Sections 5, 9 and/or 11 of this Agreement. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.  Compensation.

     

    3.1.  Base
      Salary.
      Company
      will compensate Executive for the services rendered hereunder a Base Salary
      of
      $360,000.00 per year payable in accordance with the regular payroll practices
      of
      Company. The Executive's Base Salary shall be subject to annual review by the
      Board and may be increased, but not decreased, from time to time by the Board.
      No increase to Base Salary shall be used to offset or otherwise reduce any
      obligations of Company to the Executive hereunder or otherwise. The base salary
      as determined herein from time to time shall constitute "Base Salary" for
      purposes of this Agreement.

     

    3.2.  Employee
      Benefits.
      Executive shall also be entitled to all rights and benefits for which Executive
      shall be eligible under bonus, vacation, sick days, pension, group insurance,
      disability, life insurance, profit-sharing or other Company benefits which
      may
      now or in the future be in force from time to time and provided to Executive
      or
      for Company's employees generally. Additionally, Executive shall be entitled
      to
      a non-accountable monthly allowance of One Thousand Dollars ($1000.00)
(the“Monthly
      Allowance”).

     

    3.3.  Business
      and Travel Expenses.
      During
      the Employment Term, the Company shall reimburse the Executive for all
      reasonable and necessary business and travel expenses incurred by the Executive
      while performing his duties under this Agreement in accordance with the
      Company’s customary practices for its executive employees, subject to provision
      by the Executive of documentation reasonably satisfactory to the Company.
      Further, Executive shall be entitled to a non accountable five hundred dollar
      ($500.00) per day allowance while traveling on the Company’s
      account.

     

    3.4.  Cash
      and Equity Bonuses. The
      Executive
      shall
      have a
      bonus
      entitlement during each calendar year (or portion thereof) of the Employment
      Term equal to one hundred percent of his Base Salary for such year (or portion
      thereof) payable to Executive in cash or equity or any combination thereof
      at
      the election of Executive.. Within thirty (30) days of the Effective Date,
      the
      Company and the Executive shall concur, within their respective reasonable
      discretion, on the criteria and procedures applicable to establishment of
      Executive’s entitlement to such amount for the then current calendar year; and,
      thereafter, within thirty (30) days prior to the commencement of each calendar
      year of the Employment Term, the Company and the Executive shall concur, within
      their respective reasonable discretion, on the criteria and procedures
      applicable to establishment of Executive’s entitlement to such amount for the
      ensuing calendar year. Such criteria shall include, without limitation: (i)
      specified revenue targets for the Company during the applicable period; (ii)
      specified EBITDA targets for the Company during the applicable period (as
      defined pursuant to consensus between the Company and the Executive); (iii)
      completion of projects defined by the Board; and (iv) additional specified
      targets for the Company and/or the Executive. 

     

    3.5.  Payment.
      All
      compensation payable to Executive hereunder shall be subject to all applicable
      state and federal employment law(s); it being understood that Executive shall
      be
      responsible for the payment of all taxes resulting from a determination that
      any
      portion of the compensation and/or benefits paid/received hereunder is a taxable
      event to Executive; it being further understood that Executive shall hold the
      Company harmless from any governmental claim(s) for Executive’s personal tax
      liabilities, including interest or penalties, arising from any failure by
      Executive to pay his individual taxes when due.

     

    3.6.  Compensation
      Review.
      It is
      understood and agreed that Executive’s performance will be reviewed by the
      Company’s Board of Directors as of the anniversary date of each year this
      Agreement is in force for the purpose of determining whether or not Executive’s
      Base Salary and/or cash bonuses should be increased; it being further understood
      that the decision to increase Executive’s compensation shall be at the sole and
      exclusive option of the Board of Directors.

     

    3.7.  Equity
      Awards.
      

     

    (a)
       Grant
      of Option.
      The
Company
      hereby irrevocably grants to the Executive a non-assignable, non-transferable
      option to purchase shares in the capital stock of Company (hereinafter called
      the “Option”). The Option shall vest over a three (3) year period, beginning
      October 1, 2006. Each year, the Executive may exercise up to one-third (1/3)
      of
      the Option, by notice in writing to Company to that effect. The Option shall
      be
      exercisable for a ten-year period as shown below. Any such notice given to
      Company (an “Exercise Notice”) shall specify the number of shares with respect
      to which the Option is being exercised and shall be accompanied by full payment
      of the Option Price for the number of shares then being purchased.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

      
        	
                Date
                  Vested

              	 	
                Expiration
                  Date

              	 	
                #
                  Available

              	 	
                Exercise
                  Price

              
	
                10/01/06

              	 	
                08/01/16
                  1,200,000

              	 	
                $0.50/share

              	 	 
	
                10/01/07

              	 	
                08/01/17
                  1,200,000

              	 	
                $0.50/share

              	 	 
	
                10/01/08

              	 	
                08/01/18
                  1,200,000

              	 	
                $0.50/share

              	 	 

      

    

     

    Executive
      shall also have the right to exercise this Option or any portion thereof (the
      "Exercise Right"), without payment by the Executive of the Exercise Price in
      cash or any other consideration (other than the surrender of rights to receive
      Options Shares hereunder), into shares of Common Stock as provided in this
      Section 3.7 (a). Upon receipt by the Company of a duly executed and completed
      Conversion Notice in the form attached hereto as Exhibit
      B
      for the
      exercise of the Exercise Right with respect to a particular number of Option
      shares (the “Options Shares"), the Company shall deliver to the Executive
      (without payment by the Executive of the exercise price in cash or any other
      consideration (other than the surrender of rights to receive Options Shares
      hereunder)) that number of shares of Common Stock equal to the quotient obtained
      by dividing: (x) the difference between (i) the product of (A) the Current
      Market Price of a share of Common Stock multiplied by (B) the number of Options
      Shares and (ii) the product of (A) the Exercise Price multiplied by (B) the
      number of the Options Shares, in each case as of the exercise date, by (y)
      the
      Current Market Price of a share of Common Stock on the exercise date. Further,
      in the event of a “Change of Control”, as such term is defined in Section 6.2,
      then the Options shall immediately vest and be available for exercise by the
      Executive.

     

    (b) Termination
      of Option.
      The
      Option is not assignable or transferable and shall terminate pursuant to the
      schedule set forth in Section 3.6 (a). All rights to exercise such Options
      shall
      be forfeit and otherwise extinguished in the event that the Executive fails
      to
      exercise it for any reason or cause whatsoever, provided, however, that if
      such
      failure is due to the death of the Executive, all options shall immediately
      vest
      and the personal representative of the Executive shall have the right to
      exercise any unexercised part of the Option for a period of one year following
      the date of death of the Executive. 

     

    (c)
       Additional
      Equity Awards.
      In
      addition to participating in any Company incentive stock option program,
      Executive shall be entitled to equity awards (the “Equity
      Awards”)
      in the
      event that the Company successfully receives Financing (as defined below) after
      the Effective Date in one or a series of transactions from Executive, parties
      that Executive introduced to the Company, and/or parties that were not
      stockholders of the Company prior to the date of the Agreement (“New
      Funding”).
      In
      the event such New Funding in the aggregate equals or exceeds $10.0 million,
      the
      Equity Awards will equal two percent (2.0%) of the number of Common Stock
      Equivalents (as defined below) issued in connection with the New Funding
      (subject to adjustment as set forth below). Such awards shall be issued by
      the
      Company at the time of closing of the transaction that gives rise to the
      Company’s obligation hereunder and shall be in the form of grants of incentive
      stock options exercisable over a period of ten (10) years after grant
at
      a
      price per share equal to the fair market value per share of Common Stock on
      the
      date of grant as determined by the Board.
      

     

    (i)  “Common
      Stock Equivalents”
shall
      mean the number of shares of Common Stock then outstanding, plus the
      total
      maximum aggregate number of shares that are issuable pursuant to any
      rights to subscribe for or purchase, and any options or
      warrants for
      the
      purchase of, shares of Common Stock, plus the
      total
      maximum aggregate number of shares that are issuable pursuant to any
      stock
      or securities convertible into or exchangeable for shares of Common Stock and
      any options
      or
      warrants
      therefor
      (all of the foregoing calculated after giving effect to the operation of any
      and
      all provisions designed to protect against dilution contained in securities
      theretofore issued and other obligations theretofore entered into by the Company
      directly or indirectly triggered as a result of consummation of the transactions
      contemplated hereunder or any other event or circumstance). 

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (ii)  “Financing”
shall
      mean any transaction or series of transactions that close in which the Company
      receives at least Ten Million Dollars ($10,000,000) (or such other amount as
      mutually agreed upon dollar amount by the Parties).

     

    4.  Representations.

     

    4.1.  Executive
      Representations.
      Executive hereby represents and warrants that:

     

    His
      employment with the Company under the terms of this Agreement will not conflict
      with any continuing duties or obligations Executive has with any other
      person(s), firm(s) and/or entity(ies). Executive also represents that he has
      not
      brought to the Company (during the period before or after the Effective Date
      of
      this Agreement) any confidential material(s) and/or document(s) of any former
      employer(s), or any confidential information or property belonging to
      other(s).

     

    During
      the Employment Term, he will promptly disclose to the Board of Directors of
      the
      Company any direct interest (greater than five percent (5%)) he holds, if any,
      in any business which provides service(s) and/or product(s) to the Company
      (whether as a principal, stockholder, lender, employee, director, officer,
      partner, venturer, consultant or otherwise).

     

    4.2.  Company
      Representations.
      The
      Company hereby represents and warrants that:

     

    The
      execution and delivery by the Company of this Agreement, the performance by
      the
      Company of its covenants and agreements under this Agreement, and the
      consummation by the Company of the transactions contemplated by this Agreement
      have been duly authorized by all necessary corporate action. When executed
      and
      delivered by the Company, this Agreement shall constitute the valid and legally
      binding obligation of the Company enforceable against the Company in accordance
      with its terms.

     

    Neither
      the execution and delivery of this Agreement by the Company nor the consummation
      by the Company of the transactions contemplated in this Agreement will violate
      any provision of the Restated Certificate of Incorporation or Bylaws of the
      Company or any law, rule regulation, writ, judgment, injunction, decree,
      determination, award or other order of any court, governmental agency or
      instrumentality binding upon the Company, or conflict with or result in any
      breach of or event of termination under any of the terms of, or the creation
      or
      imposition of any mortgage, deed of trust, pledge, lien, security interest
      or
      other charge or encumbrance of any nature pursuant to, the terms of any contract
      or agreement to which the Company is a party or by which the Company or any
      of
      its properties or assets is bound. No conversion or exercise price or ratio
      with
      respect to any securities of the Company will be subject to adjustment as a
      consequence of the transactions contemplated by this Agreement, nor as a result
      of such transactions will the number of securities issuable upon conversion
      or
      exercise of any outstanding securities of the Company be subject to
      adjustment.

     

    The
      Equity Award, when issued and delivered in accordance with the terms of this
      Agreement, shall be validly issued, fully paid and non-assessable shares of
      Common Stock, free and clear of any mortgages, deeds of trust, pledges, liens,
      security interests or any charges or encumbrances of any nature (other than
      the
      restrictions on the Restricted Shares expressly contemplated hereunder). There
      are no preemptive rights with respect to any shares of capital stock of the
      Company.

     

    5.  Termination.
      Executive’s employment and this Agreement (except as otherwise provided
      hereunder) shall terminate upon the occurrence of any of the following, at
      the
      time set forth therefor (the “Termination
      Date”):

     

    5.1.  Death
      or Disability.
      Immediately upon the death of Executive or after six (6) months of Executive’s
      inability to perform the essential functions of his duties, with or without
      reasonable accommodation (defined in Section 6.8 below), due to a mental or
      physical illness or incapacity (“Disability”)
      (termination pursuant to this Section 6.1 being referred to herein as
      termination for “Death
      or Disability”);

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    5.2.   Termination
      for Good Reason.
      Immediately following notice of termination for “Good Reason” (as defined
      below), specifying such Good Reason, given by Executive (termination pursuant
      to
      this Section 6.2 being referred to as termination for “Good
      Reason”.
      As
      used herein, “Good
      Reason”
means
      (i) any reduction in Base Salary; (ii) a substantial dilution of the
      responsibilities, functions and duties attached to the position with the Company
      held by Executive; (iii) the Company fails to provide any of the compensation
      or
      other benefits required hereunder; (iv) the Company otherwise is in material
      breach of this Agreement; or (v) the Company and the Executive fail to
      effectuate the matters contemplated by Sections 3.4, 3.6 or 4 within the
      respective periods contemplated thereunder. Any determination of Good Reason
      shall be made by Executive after first having given thirty (30) days written
      notice to the Board of Directors of the Company thereof.

     

    5.3.  Voluntary
      Termination.
      Thirty
      (30) days following Executive’s written notice to the Company of voluntary
      termination of employment (not extending to termination for Good Reason);
      provided, however, that the Company may waive all or a portion of the thirty
      (30) days’ notice and accelerate the effective date of such termination (and the
      Termination Date) (termination pursuant to this Section 6.2 being referred
      to
      herein as “Voluntary”
      termination); or

     

    5.4.  Termination
      For Cause.
      Immediately following notice of termination for “Cause” (as defined below),
      specifying such Cause, given by the Company (termination pursuant to this
      Section 6.4 being referred to herein as termination for “Cause”).
      As
      used herein, “Cause”
means
      (i) termination based on Executive’s conviction or plea of “guilty” or “no
      contest” to any crime constituting a felony in the jurisdiction in which the
      crime constituting a felony is committed (other than one involving Limited
      Vicarious Liability),
      any
      crime involving moral turpitude (whether or not a felony), or any other
      violation of criminal law involving dishonesty or willful misconduct that
      materially injures the Company (whether or not a felony); (ii) Executive’s
      substance abuse that in any manner interferes with the performance of his
      duties; (iii) Executive’s
      failure to perform the
      responsibilities, functions and duties attached to the position with the Company
      or
      a
      refusal to perform his duties at all or in a
      reasonably
      acceptable manner; (iv) Executive’s failure to follow the lawful and proper
      directives of the Board of Directors that
      are
      within the scope of Executive’s duties; or
      (v)
      Executive’s material
      breach of this Agreement.
      Any
      determination of for Cause termination shall be made by the Board of Directors
      of the Company after having first given thirty (30) days written notice to
      Executive of such determination, and afforded Executive the opportunity to
      be
      heard by the full Board of Directors. Notwithstanding any other provision in
      this Agreement, if Executive is terminated pursuant to subsection (iii) of
      this
      Section 6.4 for poor job performance, excluding refusal to perform his duties,
      Executive shall have sixty (60) days to cure the behavior upon which the
      threatened termination is based. For the purpose of this provision, the term
      “Limited Vicarious Liability” shall mean any liability which is based on acts of
      Company for which Executive is responsible solely as a result of his office(s)
      with Company; provided that (A) he was not directly involved in such acts and
      either had no prior knowledge of such intended actions or, upon obtaining such
      knowledge, promptly acted reasonably and in good faith to attempt to prevent
      the
      acts causing such liability or (B) after consulting with Company's counsel,
      he
      reasonably believed that no law was being violated by such acts.

     

    5.5.  Termination
      Without Cause.
      Notwithstanding any other provisions contained herein, the Company may terminate
      Executive’s employment thirty (30) days following notice of termination without
      Cause given by the Company; provided, however, that during any such thirty
      (30)
      day notice period, the Company may suspend, with no reduction in pay or
      benefits, Executive from his duties as set forth herein (including, without
      limitation, Executive’s position as a representative and agent of the Company)
      (termination pursuant to this Section 6.5 being referred to herein as
      termination “Without
      Cause”).

     

    5.6.  Other
      Remedies.
      Termination pursuant to Section 6.3 above shall be in addition to and without
      prejudice to any other right or remedy to which Executive may be entitled at
      law, in equity, or under this Agreement. Termination pursuant to Section 6.4
      above shall be in addition to and without prejudice to any other right or remedy
      to which the Company may be entitled at law, in equity, or under this
      Agreement.

     

    5.7.  Salary
      Continuation During Disability.
      Notwithstanding Section 6.1 above, if Executive suffers any physical or mental
      disability that would prevent the performance of his essential job duties,
      the
      Company agrees to pay Executive one hundred percent (100%) of Executive’s
      salary, payable in the same manner as provided for the payment of salary herein,
      for the duration of the disability, or six (6) months, whichever is less.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    5.8.  Reasonable
      Accommodation.
      “Reasonable
      accommodation”
shall
      mean the acquisition or modification of equipment or devices, adjustment or
      modifications of training materials or policies, the provision of qualified
      readers or interpreters, and other similar accommodations for individuals with
      disabilities so long as said accommodation does not require significant
      difficulty or expense when considered in light of (i) the nature and cost of
      the
      accommodation, (ii) the impact of the accommodation on the operations of the
      Company, and (iii) the financial resources of the Company.

     

    6.  Severance
      and Termination.

     

    6.1.  Voluntary
      Termination, Termination for Cause, Termination for Death or
      Disability.
      In the
      case of a termination of Executive’s employment hereunder for Death in
      accordance with Section 6.1 above, or Executive’s Voluntary termination of
      employment hereunder in accordance with Section 6.3 above, or a termination
      of
      Executive’s employment hereunder for Cause in accordance with Section 6.4 above,
      (i) Executive shall not be entitled to receive payment of, and the Company
      shall
      have no obligation to pay, any severance or similar compensation attributable
      to
      such termination, other than Base Salary earned but unpaid, accrued but unused
      vacation to the extent required by the Company’s policies and any non-reimbursed
      expenses pursuant to Section 4 hereof incurred by Executive as of the
      termination date, and (ii) the Company’s obligations under this Agreement shall
      immediately cease except as required by law. Provided further, in the event
      of
      Executive’s Voluntary termination of employment hereunder in accordance with
      Section 6.3 above, or a termination of Executive’s employment hereunder for
      Cause in accordance with Section 6.4 above, Executive shall tender back to
      the
      Company all unexercised options granted to Executive by the Company in
      connection with Executive’s employment. 

     

    6.2.  Termination
      for Good Reason, Termination Without Cause.
      

     

    In
      the
      case of a termination of Executive’s employment hereunder for Good Reason in
      accordance with Section 6.2 above, or Without Cause in accordance with Section
      6.4 above, the Company shall, within 30 days of the Termination Date, pay
      Executive, in a lump-sum, cash in the amount (the “Severance
      Payment”)
      of the
      sum of (x) 50% of his annual Base Salary then in effect plus (y) the product
      obtained by multiplying the Monthly Allowance and six; provided, however, that,
      in the event such termination of Executive’s employment follows a
“Change-of-Control” (as defined below), the Severance Payment shall be an amount
      equal to the sum of (x) 150% of his annual Base Salary then in effect plus
      (y)
      the product obtained by multiplying the Monthly Allowance and 18. As used
      herein, “Change-of-Control”
      means:

     

    (i)  the
      acquisition by any individual, entity or group (within the meaning of Section
      13(d)(3) or 14(d)(2) under the Securities Exchange Act of 1934, as amended
      [the
“Exchange
      Act”])
      of
      beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
      Exchange Act) of 20% or more of the combined voting power of the outstanding
      voting securities of the Company entitled to vote generally in the election
      of
      directors; provided, however, that the following acquisitions shall not
      constitute a Change-of-Control: (w) any acquisition directly from the Company,
      (x) any acquisition by the Company, (y) any acquisition by any employee benefit
      plan (or related trust) sponsored or maintained by the Company, or (z) any
      acquisition by any corporation pursuant to a transaction which complies with
      clauses (w), (x) and (y) immediately preceding; or

     

    (ii)  individuals
      who, as of the date hereof, constitute the Board of Directors of the Company
      (the “Incumbent
      Board”)
      cease
      for any reason to constitute at least a majority of the Board of Directors
      of
      the Company unless they are replaced with a slate nominated by at least a
      majority of the Incumbent Board and further provided that any individual
      becoming a director subsequent to the date hereof whose election, or nomination
      for election by the Company's stockholders, was approved by a vote of at least
      a
      majority of the directors then comprising the Incumbent Board shall, for
      purposes of this sub-paragraph (ii), be considered as though such individual
      were a member of the Incumbent Board, but excluding, for this purpose, any
      such
      individual whose initial assumption of office occurs as a result of an actual
      or
      threatened election contest with respect to the election or removal of directors
      or other actual or threatened solicitation of proxies or consents by or on
      behalf of an individual, entity or group other than the Board of Directors
      of
      the Company acting by at least a majority thereof; or

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (iii)  Consummation
      of a reorganization, merger or consolidation or sale or disposition of all
      or
      substantially all of the assets of the Company (a “Business
      Combination”),
      in
      each case, unless, following such transaction: (x) all or substantially all
      of
      the individuals and entities who were the beneficial owners, respectively,
      of
      the outstanding voting securities of the Company entitled to vote generally
      in
      the election of directors immediately prior to such Business Combination
      beneficially own, directly or indirectly, more than 50% (20% in the case of
      any
      Business Combination being proposed and implemented by at least a majority
      of
      the Incumbent Board) of the combined voting power of the then outstanding voting
      securities entitled to vote generally in the election of directors of the
      corporation resulting from such Business Combination (including, without
      limitation, a corporation which as a result of such transaction owns the Company
      or all or substantially all of the Company's assets either directly or through
      one or more subsidiaries) in substantially the same proportions as their
      ownership, immediately prior to such Business Combination, of the outstanding
      voting securities of the Company entitled to vote generally in the election
      of
      directors, (y) no individual, entity or group beneficially owns, directly or
      indirectly, 20% or more of the combined voting power of the then outstanding
      voting securities of such corporation except to the extent that such ownership
      existed prior to the Business Combination, and (z) at least a majority of the
      members of the board of directors of the corporation resulting from such
      Business Combination were members of the Incumbent Board, or were nominated
      by
      at least a majority of the members of the Incumbent Board, at the time of the
      execution of the initial agreement, or by the action of the Board providing
      for
      such Business Combination; or

     

    (iv)  Approval
      by the stockholders of the Company of a complete liquidation or dissolution
      of
      the Company.

     

    In
      addition, in the event Paragraph (a) immediately preceding applies, for six
      months after the Termination Date (or such longer period as may be provided
      by
      the terms of the appropriate plan, program, practice or policy), the Company
      shall continue Welfare Benefits to the Executive and/or his family at least
      equal to those which would have been provided if the Executive’s employment had
      not been terminated (provided, however, that such period shall be eighteen
      months in the event such Paragraph (a) applies following a
      Change-of-Control).

     

    Notwithstanding
      the foregoing, in the event Executive is a “specified employee” as defined in
      Section 409A(a)(2)(B)(i) of the Code, the payment of the Severance Payment
      under
      this Section 7.2 shall be made no earlier than six months after the Termination
      Date.

     

    7.  Severance
      Not Conditioned on Release of Claims.

     

    7.1.  Release.
      The
      Company’s obligation to provide Executive with the Severance Payment set forth
      in Section 7.2 is not contingent upon Executive’s execution of a release of
      claims in favor of the Company.

     

    8.  Non-competition,
      Non-solicitation.

     

    8.1.  Non-Competition.
      Executive agrees that he shall not, during the Employment Term and for twelve
      (12) months subsequent thereto, without both the disclosure to and the written
      approval of the Board of Directors of the Company, directly or indirectly,
      engage or be interested in (whether as a principal, lender, employee, officer,
      director, partner, venturer, consultant or otherwise) any business(es) that
      is
      competitive with the business being conducted by the Company through the
      Termination Date, without the express written approval of the Board of
      Directors.

     

    8.2.  Non-Solicitation.
      Executive agrees that he will not, without the prior written consent of the
      Company’s Board of Directors, for a period of twelve (12) months after the
      Termination Date, directly or indirectly disturb, entice, or in any other manner
      persuade, any employee(s) or consultant(s) of the Company to discontinue that
      person’s or firm’s relationship with the Company if the employee(s) and/or
      consultant(s) were employed by the Company at any time during the twelve (12)
      month period prior to the Termination Date.

     

    8.3.  Customers.
      Executive agrees that he will not, for a period of twelve (12) months following
      the Termination Date, contact or solicit orders, sales or business from any
      customer of the Company so as to induce or attempt to induce such customer
      to
      cease doing business with the Company.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    8.4.  Public
      Investments.
      The
      provisions of Section 9.1 through 9.3, inclusive, shall not be deemed breached
      by reason of Executive’s ownership of 10% or less of the equities of any entity
      with a class of publicly traded securities.

     

    9.  Inventions,
      Discoveries and Improvements.
      Any and
      all invention(s), discovery(ies) and improvement(s), whether protectable or
      unprotectable by patent, trademark, copyright or trade secret, made, devised,
      or
      discovered by Executive, whether by Executive alone or jointly with others,
      from
      the time of entering the Company’s employ until the earlier of the Termination
      Date of this Agreement or the actual date of termination of employment, relating
      or pertaining in any way to Executive’s employment with the Company, shall be
      promptly disclosed in writing to the Board of Directors of the Company, and
      become and remain the sole and exclusive property of the Company. Executive
      agrees to execute any assignments to the Company, or its nominee, of the
      Executive’s entire right, title, and interest in and to any such inventions,
      discoveries and improvements and to execute any other instruments and documents
      requisite or desirable in applying for and obtaining patents, trademarks or
      copyrights at the cost of the Company, with respect thereto in the United States
      and in all foreign countries, that may be requested by the Company. Executive
      further agrees, whether or not then in the employment of the Company, to
      cooperate to the fullest extent and in the manner that may be reasonably
      requested by the Company in the prosecution and/or defense of any suit(s)
      involving claim(s) of infringement and/or misappropriation of proprietary rights
      relevant to patent(s), trademark(s), copyright(s), trade secret(s), processes,
      and/or discoveries involving the Company’s product(s); it being understood that
      all reasonable costs and expenses thereof shall be paid by the Company. The
      Company shall have the sole right to determine the treatment of disclosures
      received from Executive, including the right to keep the same as a trade secret,
      to use and disclose the same without a prior patent application, to file and
      prosecute United States and foreign patent application(s) thereon, or to follow
      any other procedure which the Company may deem appropriate. In accordance with
      this provision, Executive understands and is hereby further notified that this
      Agreement does not apply to an invention which the employee developed entirely
      on his own time without using the Company’s equipment, supplies, facilities, or
      trade secret information.

     

    10.  Confidential
      Information and Trade Secrets.

     

    10.1.  Non-Disclosure.
      Executive hereby acknowledges that all confidential or proprietary trade,
      engineering, production, and technical data, information or “know-how”
including, but not limited to, customer lists, sales and marketing techniques,
      vendor names, purchasing information, processes, methods, investigations, ideas,
      equipment, tools, programs, costs, product profitability, plans, specifications,
      patent application(s), drawings, blueprints, sketches, layouts, formulas,
      inventions, processes and data, whether or not reduced to writing, used in
      the
      development and manufacture of the Company’s products and/or the performance of
      services, or in research or development, are the exclusive property of the
      Company, and shall be at all times, whether after the Effective Date or after
      the Termination Date, be kept strictly confidential and secret by Executive;
      it
      being understood, however, that information which was publicly known, or which
      is in the public domain, or which is generally known, shall not be subject
      to
      this restriction (and Executive’s duties of non-disclosure shall further not
      extend to (i) disclosures to other employees, executives, officers and/or
      directors of the Company, or as may be required or appropriate in connection
      with performance hereunder, and (ii) the requirements of legal process, subpoena
      or other court order). 

     

    10.2.  Return
      of Property.
      Executive agrees not to remove from the Company’s office or copy any of the
      Company’s confidential information, trade secrets, books, records, documents or
      customer or supplier lists, or any copies of such documents, without the express
      written permission of the Board of Directors of the Company or as may be
      required or appropriate in connection with performance hereunder. Executive
      agrees, at the Termination Date, to return any property belonging to the
      Company, including, but not limited to, any and all records, notes, drawings,
      specifications, programs, data and other materials (or copies thereof)
      pertaining to the Company’s businesses or its product(s) and service(s),
      generated or received by Executive during the course of his employment with
      the
      Company.

     

    11.  Information
      of Others.
      Executive agrees that the Company does not desire to acquire from Executive
      any
      secret or confidential information or “know-how” of others. Executive,
      therefore, specifically represents to the Company that he will not bring to
      the
      Company any materials, documents, or writings containing any such information.
      Executive represents and warrants that from the Effective Date of this Agreement
      he is free to divulge to the Company, without any obligation to, or violation
      of, the rights of others, information, practices and/or techniques which
      Executive will describe, demonstrate or divulge or in any other manner make
      known to the Company during Executive’s performance of services. Executive also
      agrees to indemnify and hold the Company harmless from and against any and
      all
      liabilities, losses, costs, expenses, damages, claims or demands for any
      violation of the rights of others as it relates to Executive’s misappropriation
      of secrets, confidential information, or “know-how” of others. Such
      indemnification will not apply in the event action by the Company is
      unsuccessful.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    12.  Survival.
      Executive’s duties under paragraphs 8,9,10 and 11 survive termination of
      Executive’s employment with Company. Executive acknowledges that a remedy at law
      for any breach or threatened breach by Executive of the provisions of the
      Proprietary Information Agreement would be inadequate and Executive therefore
      agree that Company shall be entitled to injunctive relief in case of any such
      breach or threatened breach.

     

    13.  Indemnification.
      The
      Company shall indemnify Executive in his capacity as director, officer and
      employee of the Company upon terms no less favorable to him than are contained
      under Article 7 of the Restated Certificate of Incorporation of the Company,
      and
      Article VI of the By-laws of the Company, as in effect on the date hereof.
      The
      Company shall extend to Executive the benefits of directors’ and officers’
liability insurance upon terms no less favorable than are extended to any other
      director or officer of the Company.

     

    14.  Notice.

     

    14.1.  Notices.
      All
      notices and other communications under this Agreement shall be in writing and
      shall be delivered personally or mailed by registered or certified mail, return
      receipt requested, and shall be deemed given when so delivered or mailed, to
      a
      party at his or its address as follows (or at such other address as a party
      may
      designate by notice given hereunder):

     

    If
      to
      Executive:             At
      the
      address (or to the facsimile number) shown on the records 

    of
      Company.

    

    If
      to the
      Company:                
  Dot
      VN,
      Inc.

    9449
      Balboa Ave., Suite 114

    San
      Diego, CA 92123 

       

    15.  Dispute
      Resolution. If
      the
      Parties are unable to resolve a dispute informally, the following provisions
      shall control:

     

    15.1.  Excepting
      claims for injunctive relief and/or other equitable relief for unfair
      competition and/or the use or unauthorized disclosure of trade secrets or
      confidential information, both Company and Executive shall submit all claims,
      disputes or controversies (“Claims”) against the other arising from or relating
      in any way to this Agreement, whether based in contract or tort, including
      discrimination claims under state and federal law, claims that could otherwise
      be asserted in class action litigation, such as wage and hour claims,
      discrimination claims, post-termination claims, and claims regarding the
      applicability of this arbitration clause or the validity of the Agreement,
      to
      binding arbitration pursuant to the rules of the American Arbitration
      Association. Nothing herein shall be construed to preclude class arbitrations
      on
      common issues. In all arbitration matters, Company shall bear the costs of
      the
      forum and all arbitrator(s) fees.

     

    15.2.  All
      claims subject to arbitration shall be arbitrated by a sole arbitrator, who
      shall have the power to determine all issues, including arbitrability, award
      equitable relief and all forms of damages, including punitive damages. If the
      Parties cannot agree on a single arbitrator, or a method to select a single
      arbitrator, a panel of 3 arbitrators shall be employed, the Parties each
      selecting one arbitrator, and the two arbitrators so selected shall choose
      a
      third “independent” arbitrator. All arbitrators must have experience specific to
      the subject matter of the dispute. The arbitration hearing will be held in
      San
      Diego, California. The decision shall be in writing and include a statement
      of
      facts and the reason for the decision. Judgment may be entered in any court
      of
      competent jurisdiction after a thirty day waiting period, during which time
      the
      Parties further agree that all proceedings are to remain confidential. If the
      affected party fully complies with the arbitration award within 30 days, no
      further proceedings shall be had, and the matter shall be considered concluded.
      

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    IN
      THE
      ABSENCE OF THIS ARBITRATION AGREEMENT YOU AND WE MAY OTHERWISE HAVE HAD A RIGHT
      OR OPPORTUNITY TO LITIGATE CLAIMS THROUGH A COURT, AND / OR TO PARTICIPATE
      OR BE
      REPRESENTED IN LITIGATION FILED IN COURT BY OTHERS, BUT EXCEPT AS OTHERWISE
      PROVIDED ABOVE, ALL CLAIMS MUST NOW BE RESOLVED THROUGH
      ARBITRATION.

     

    16.  Nondisparagment.
      Except
      for statements made in the course of sworn testimony in administrative, judicial
      or arbitral proceedings, both Executive and Company (for purposes hereof,
      Company shall mean only the executive officers and directors thereof and not
      any
      other employees) agree not to make any public statements that disparage the
      other party, or in the case of Company, its respective affiliates, employees,
      officers, directors, products or services. 

     

    17.  Attorney's
      Fees.
      Except
      for matters subject to the mandatory arbitration provisions of Section 17,
      if
      either party brings any action to enforce its rights hereunder, the prevailing
      party in any such action shall be entitled to recover his or its reasonable
      attorneys' fees and costs in connection with such action.

     

    18.  Miscellaneous.

     

    18.3.  Post
      Termination Obligations.
      Notwithstanding the termination of Executive’s employment hereunder, the
      provision(s) of Section(s) “5,” “7,” “9,” “10,” “11,” “13,” and “15” shall
      survive the Termination Date.

     

    18.4.  Assignment.
      This
      Agreement shall be assigned to and inure to the benefit of, and be binding
      upon,
      any successor to substantially all of the assets and business of the Company
      as
      a going concern, whether by merger, consolidation, liquidation or sale of
      substantially all of the assets of the Company or otherwise. The Company will
      require any successor (whether direct or indirect, by purchase, merger,
      consolidation or otherwise) to all or substantially all of the business and/or
      assets of the Company to assume expressly and agree to perform this Agreement
      in
      the same manner and to the same extent that the Company would be required to
      perform it if no such succession had taken place; and, as used in this
      Agreement, "Company"
      shall
      mean the Company as hereinbefore defined and any successor to its business
      and/or assets as aforesaid which assumes and agrees to perform this Agreement
      by
      operation of law, or otherwise. Executive understands and agrees, however,
      that
      this Agreement is exclusive and personal to him only, and, as such, he will
      neither assign nor subcontract all or part of his undertaking(s) or
      obligation(s) under the terms of this Agreement.

     

    18.5.  Severability.
      In the
      event that any provision of this Agreement shall be determined to be
      unenforceable or otherwise invalid, the balance of the provision(s) shall be
      deemed to be enforceable and valid; it being understood that all provision(s)
      of
      this Agreement are deemed to be severable, so that unenforceability or
      invalidity of any single provision will not affect the remaining
      provision(s).

     

    18.6.  Headings.
      The
      Section(s) and paragraph heading(s) in this Agreement are deemed to be for
      convenience only, and shall not be deemed to alter or affect any provision
      herein.

     

    18.7.  Interpretation
      of Agreement.
      This
      Agreement shall be interpreted in accordance plain meaning of its terms and
      under the laws of the State of Delaware.

     

    18.8.  Variation.
      Any
      changes in the Sections relating to salary, bonus, or other material
      condition(s) after the Effective Date of this Agreement shall not be deemed
      to
      constitute a new Agreement. All unchanged terms are to remain in force and
      effect.

     

    18.9.  Collateral
      Documents.
      Each
      party hereto shall make, execute and deliver such other instrument(s) or
      document(s) as may be reasonably required in order to effectuate the purposes
      of
      this Agreement.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    18.10.  Non-Impairment.
      This
      Agreement may not be amended or supplemented at any time unless reduced to
      a
      writing executed by each party hereto. No amendment, supplement or termination
      of this Agreement shall affect or impair any of the rights or obligations which
      may have matured thereunder.

     

    18.11.  Execution.
      This
      Agreement may be executed in one or more counterpart(s), and each executed
      counterpart(s) shall be considered by the parties as an original.

     

    18.12.  Legal
      Counsel.
      Executive represents to the Company that he has retained legal counsel of his
      own choosing, and was given sufficient opportunity to obtain legal counsel
      prior
      to executing this Agreement. Executive also represents that he has read each
      provision of this Agreement and understands its meaning.

     

    18.13.  Transition.
      In the
      event that Executive’s employment with the Company terminates, Executive shall,
      through the last day of employment, and at the Company’s request, use
      Executive’s reasonable best efforts (at the Company’s expense) to assist the
      Company in transitioning Executive’s duties and responsibility responsibilities
      to Executive’s successor and maintaining the Company’s professional relationship
      with all customers, suppliers, etc. Without limiting the generality of the
      foregoing, Executive shall cooperate and assist the Company, at the Company’s
      direction and instruction, during the transition period between any receipt
      of
      or giving of notice of the termination of employment and the final day of
      employment. 

     

    [THE
      NEXT
      PAGE IS A SIGNATURE PAGE]

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto have set their hands and seals the day and year first above
      written.

    
      	
              THE
                COMPANY:

              

              DOT
                VN, INC.

               

               

            	 	 	 
	
            	 	 	
            
	
              

              By:
                Thomas Johnson

              Its:
                Chief Executive Officer

            	 	 	
            
	 	 	 	 

    

    
      
        	
                 

                EXECUTIVE

              	 	 	 
	
              	 	 	
              
	
                

                Lee
                  Johnson

              	 	 	
              
	 	 	 	 

      

       

      
        
          
          

        

        
          12

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