Document:

Exhibit
10.8

     

    IRREVOCABLE
TRANSFER AGENT INSTRUCTIONS

     

    August
13, 2010

    

    WorldWide
Stock Transfer , LLC

    433
Hackensack Avenue, Level L

    Hackensack,
New Jersey 07601

    

    RE:         NEOMEDIA
TECHNOLOGIES, INC.

    

    Ladies
and Gentlemen:

    

    Reference
is made to that certain Agreement (the “Agreement”) of even
date herewith by and between Neomedia Technologies, Inc, a Delaware corporation
(the “Company”), and YA
Global Investments, L.P. (the “Buyer”).  Pursuant
to the Agreement, the Company shall sell to the Buyer, and the Buyer shall
purchase from the Company, convertible debentures (the “Debenture”) in the
aggregate principal amount of $550,000.00, plus accrued interest, which are
convertible into shares of the Company’s common stock, par value $.001 per share
(the “Common
Stock”), at the Buyer’s discretion.  The Company has also
issued to the Buyer warrants to purchase up to 1,000,000 shares of Common Stock,
at the Buyer’s discretion (the “Warrant”).  These
instructions relate to the following stock or proposed stock issuances or
transfers:

     

    
      	
               
      

            	
              1.

            	
              Shares
      of Common Stock to be issued to the Buyer upon conversion of the Debenture
      (“Conversion
      Shares”) plus the shares of Common Stock to be issued to the Buyer
      upon conversion of accrued interest into Common Stock (the “Interest
      Shares”).

            

    

     

    
      	
               
      

            	
              2.

            	
              Up
      to 1,000,000 shares of Common Stock to be issued to the Buyer upon
      exercise of the Warrant (the “Warrant
      Shares”).

            

    

     

    This
letter shall serve as our irrevocable authorization and direction to WorldWide
Stock Transfer, LLC (the “Transfer Agent”) to
do the following:

     

    
      	
               
      

            	
              1.

            	
              Conversion Shares, Warrant
      Shares and Interest Shares.

            

    

     

    
      	
               
      

            	
              a.

            	
              Instructions Applicable to
      Transfer Agent.  With respect to the Conversion Shares,
      Warrant Shares and the Interest Shares, the Transfer Agent shall issue the
      Conversion Shares, Warrant Shares and the Interest Shares to the Buyer
      from time to time upon delivery to the Transfer Agent of a properly
      completed and duly executed Conversion Notice (the “Conversion
      Notice”) in the form attached hereto as Exhibit A to the Debenture,
      or a properly completed and duly executed Exercise Notice  (the
      “Exercise
      Notice”) in the form attached as Exhibit A to the Warrant,
      delivered to the Transfer Agent by the Company or on behalf of the Company
      by David Gonzalez, Esq. as escrow agent (the “Escrow
      Agent”).  Upon receipt of a Conversion Notice or an
      Exercise Notice, the Transfer Agent shall, as soon as reasonably practical
      thereafter, (i) issue and surrender to a common carrier for overnight
      delivery to the address as specified in the Conversion Notice or the
      Exercise Notice, a certificate, registered in the name of the Buyer or its
      designees, for the number of shares of Common Stock to which the Buyer
      shall be entitled as set forth in the Conversion Notice or Exercise
      Notice, or (ii) provided the Transfer Agent is participating in The
      Depository Trust Company (“DTC”) Fast
      Automated Securities Transfer Program, upon the request of the Buyer,
      credit such aggregate number of shares of Common Stock to which the Buyer
      shall be entitled to the Buyer’s or its designees’ balance account with
      DTC through its Deposit Withdrawal At Custodian (“DWAC”) system,
      provided that the Buyer causes its bank or broker to initiate the DWAC
      transaction, and further provided that a certificate representing such
      shares of Common Stock would not be required to bear a legend restricting
      transfer.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              b.

            	
              The Company hereby confirms to
      the Transfer Agent and the Buyer that certificates representing the
      Conversion Shares, Warrant Shares and Interest Shares shall not bear any
      legend restricting transfer and should not be subject to any stop-transfer
      restrictions and shall otherwise be freely transferable on the books and
      records of the Company; provided that Buyer confirm to the Transfer
      Agent and the Company that the Conversion Shares, Warrant Shares and
      Interest Shares have been or will be sold only pursuant to an effective
      registration statement for such securities under the Securities Act of
      1933, as amended (the “Act”), and that the Buyer has
      complied, or will comply, with all applicable prospectus delivery
      requirements; and
      further provided that counsel to the Company delivers (i) the Notice of
      Effectiveness set forth in Exhibit
      I attached hereto
      and (ii) an opinion of counsel in the form set forth in Exhibit
      II attached hereto,
      and that if the Conversion Shares, Warrant Shares and the Interest Shares
      are not registered for sale under the Act, then the certificates for the
      Conversion Shares, Warrant Shares and Interest Shares shall bear the
      following legend:

            

    

     

    “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE 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 APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL, IN A
FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT OR APPLICABLE STATE SECURITIES LAWS OR UNLESS SOLD PURSUANT TO
RULE 144 UNDER SAID ACT.”

     

    
      	
               
      

            	
              c.

            	
              In
      the event that counsel to the Company fails or refuses to render an
      opinion as required to issue the Conversion Shares, the Warrant Shares or
      the Interest Shares in accordance with the preceding paragraph (either
      with or without restrictive legends, as applicable), then the Company
      irrevocably and expressly authorizes counsel to the Buyer to render such
      opinion.  The Transfer Agent shall accept and be entitled to
      rely on such opinion for the purposes of issuing the Conversion Shares,
      the Warrant Shares or the Interest
Shares.

            

    

     

    
      	
               
      

            	
              d.

            	
              Upon
      the Company’s or the Escrow Agent’s receipt of a properly completed
      Conversion Notice or Exercise Notice (along with evidence that the
      Aggregate Exercise Price (as defined in the Warrant) has been delivered to
      the Company), the Company or the Escrow Agent, as the case may be, shall,
      within one Trading Day thereafter, send to the Transfer Agent the
      Conversion Notice or Exercise Notice, as the case may be, which shall
      constitute an irrevocable instruction to the Transfer Agent to process
      such Conversion Notice or Exercise Notice in accordance with the terms of
      these instructions.  For purposes hereof “Trading Day”
      shall mean any day on which the Nasdaq Market is open for customary
      trading.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              2.

            	
              All
    Shares.

            

    

     

    
      	
               
      

            	
              a.

            	
              The
      Company hereby irrevocably appoints the Escrow Agent as a duly authorized
      agent of the Company for the purposes of authorizing the Transfer Agent to
      process issuances and transfers specifically contemplated
      herein.

            

    

     

    
      	
               
      

            	
              b.

            	
              The
      Transfer Agent shall rely exclusively on the Conversion Notice or the
      Exercise Notice, and shall have no liability for relying on such
      instructions.  Any Conversion Notice or Exercise Notice
      delivered hereunder shall constitute an irrevocable instruction to the
      Transfer Agent to process such notice or notices in accordance with the
      terms thereof.  Such notice or notices may be transmitted to the
      Transfer Agent by facsimile or any commercially reasonable
      method.

            

    

     

    
      	
               
      

            	
              c.

            	
              The
      Company hereby confirms to the Transfer Agent and the Buyer that no
      instructions other than as contemplated herein will be given to Transfer
      Agent by the Company with respect to the matters referenced
      herein.  The Company hereby authorizes the Transfer Agent, and
      the Transfer Agent shall be obligated, to disregard any contrary
      instructions received by or on behalf of the
  Company.

            

    

     

    
      	
               
      

            	
              3.

            	
              Certain Notice Regarding the
      Escrow Agent. The Company and the Transfer Agent hereby acknowledge
      that the Escrow Agent is general counsel to the Buyer, a partner of the
      general partner of the Buyer and counsel to the Buyer in connection with
      the transactions contemplated and referred herein.  The Company
      and the Transfer Agent agree that in the event of any dispute arising in
      connection with this Agreement or otherwise in connection with any
      transaction or agreement contemplated and referred herein, the Escrow
      Agent shall be permitted to continue to represent the Buyer and neither
      the Company nor the Transfer Agent will seek to disqualify such
      counsel.

            

    

     

    
      	
               
      

            	
              4.

            	
              Company
      Acknowledgments.

            

    

     

    
      	
               
      

            	
              a.

            	
              The
      Company hereby agrees that it shall not replace the Transfer Agent as the
      Company’s transfer agent without the prior written consent of the
      Buyer.

            

    

     

    
      	
               
      

            	
              b.

            	
              The
      Company agrees that in the event that the Transfer Agent resigns as the
      Company’s transfer agent the Company shall engage a suitable replacement
      transfer agent that will agree to serve as transfer agent and to be bound
      by the terms and conditions of these Irrevocable Transfer Agent
      Instructions within 5 business days from the effectiveness of such
      resignation.

            

    

     

    
      	
               
      

            	
              c.

            	
              The
      Company acknowledges that the Buyer is relying on the representations and
      covenants made by the Company hereunder and are a material inducement to
      the Buyer purchasing the Debenture pursuant to the
      Agreement.  The Company further acknowledges that without such
      representations and covenants of the Company made hereunder, the Buyer
      would not purchase the Debenture.

            

    

     

    
      	
               
      

            	
              d.

            	
              The
      Company specifically acknowledges and agrees that in the event of a breach
      or threatened breach by a party hereto of any provision hereof, the Buyer
      will be irreparably damaged and that damages at law would be an inadequate
      remedy if these Irrevocable Transfer Agent Instructions were not
      specifically enforced.  Therefore, in the event of a breach or
      threatened breach by the Company, including, without limitation, the
      attempted termination of the agency relationship created by this
      instrument, the Buyer shall be entitled, in addition to all other rights
      or remedies, to an injunction restraining such breach, without being
      required to show any actual damage or to post any bond or other security,
      and/or to a decree for specific performance of the provisions of these
      Irrevocable Transfer Agent
Instructions.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              5.

            	
              Transfer Agent Binding
      Disclaimer:  In consideration for the Transfer Agent
      agreeing and attesting to all terms in the above referenced Irrevocable
      Transfer Agent Instructions, in particular any kind of lawsuit and or
      action that may arise from the Buyer’s instructing the Transfer Agent to
      issue shares based on the legality of the Agreement whereas the Company is
      denying the request in full or partially for whatever reason, the Company,
      Buyer and any other third party involved agree for ourselves, our
      successors, legal representatives and assigns, at all times to defend,
      indemnify and save the Transfer Agent, their successors and assigns, free
      and harmless from and against any and all claims, from actions, suits,
      whether groundless or otherwise, and from and against any and all
      liabilities, taxes, losses, damages, costs, charges, counsel fees, and
      other expenses of every nature and character that arises from this
      action.

            

    

    
       

      [REMAINDER
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    IN WITNESS WHEREOF, the
parties have caused this letter agreement regarding Irrevocable Transfer Agent
Instructions to be duly executed and delivered as of the date first written
above.

     

    
      
        
          	
                  COMPANY:

                
	 
      
	
                  Neomedia
      Technologies, Inc.

                
	 
      	 
      
	
                  By:

                	
                  /s/ Michael W. Zima

                
	
                  Name:  

                	
                  Michael
      W. Zima

                
	
                  Title:

                	
                  CFO

                
	 
      	 
      
	
                  BUYER:

                
	 
      
	
                  YA
      Global Investments, L.P.

                
	 
      	 
      
	
                  By:

                	
                  Yorkville
      Advisors, LLC

                
	
                  Its:

                	
                  Investment
      Manager

                
	 
      	 
      
	
                  By:

                	
                  /s/ Gerald Eicke

                
	
                  Name:

                	
                  Gerald
      Eicke

                
	
                  Title:

                	
                  Managing
      Member

                
	 
      	 
      
	
                  ESCROW
      AGENT

                
	 
      	 
      
	
                  By:

                	
                  /s/ David Gonzalez

                
	
                  David
      Gonzalez, Esq.

                

        

      

    

    

    WorldWide
Stock Transfer, LLC

    

    
      
        	
                By:

              	
                /s/ Yonah J. Kopstick

              
	
                Name  

              	
                SVP

              
	
                Title:

              	
                Yonah J.
KopstickSecurity
Transfer of Moveable Assets

    

    
      

       

       

    

    
      (Sicherungsübereignungsvertrag)

    

    
      

       

      

    

    
      

       

      

    

    
      

       

      NeoMedia
Europe AG

    

    
      

       

      and

    

    
      

       

      YA Global
Investments, L.P.

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      

    

    
      EXECUTION
COPY

    

    
      

    

    
      August
13, 2010

    

    
       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

    

    
      THIS
SECURITY TRANSFER AGREEMENT (the "Agreement") is made
between

    

    

     

    
      	
              1.

            	
              NeoMedia Europe, AG,
      Jens-Otto-Krag-Straße 11, 52146 Würselen,
  Germany

            

    

     

    "Transferor"

     

    
      
        	
                and

              

      

    

     

    
      	
              2.

            	
              YA Global Investments,
      L.P., acting through Yorkville Advisors LLC, 101 Hudson Street,
      Suite 3700, Jersey City, New Jersey 07302,
USA

            

    

     

    
      
        	
                "Transferee"

              

      

    

     

    

     

    
      
        	
                -
      Transferor and Transferee hereinafter collectively referred to as the
      "Parties" and each
      as a "Party"
      -

              

      

    

    
 

    
      Preamble

       

    

    
      	
              A.

            	
              The
      Transferor, a German stock corporation (Aktiengesellschaft)
      registered with the commercial register at the local court of Aachen under
      registration number HRB 8599, is a 100% subsidiary of NeoMedia
      Technologies, Inc., a Delaware corporation with its principal office
      located at Two Concourse Parkway, Suite 500, Atlanta, GA 30328, USA
      (“NeoMedia Inc.”).
      NeoMedia Inc. is the sole shareholder of 222,000 registered no-par value
      shares with restricted transferability (vinkulierte, auf den Namen
      lautende Stückaktien) (the "Shares") in the
      Transferor.

            

    

    

    
      	
              B.

            	
              Transferee
      and NeoMedia Inc. are Parties to a variety of financing agreements
      pursuant to which Transferee has provided to NeoMedia Inc. since 2006 both
      equity and debt financing of which the current outstanding principal
      and/or liquidation value is $38,368,538.04 (in words: US-Dollars thirty
      eight million, three hundred sixty eight thousand, five hundred
      thirty-eight dollars and four cents) (the “Existing Financing”).
      All existing financing and security agreements previously entered into
      between the Transferee and NeoMedia Inc. are listed in Annex 1 to this
      agreement (the “Existing
      Financing Documents”).

            

    

     

    
      	
              C.

            	
              In
      order to secure the liquidity of NeoMedia Inc. and its group (including
      the Transferor), Transferee has provided to NeoMedia Inc. a senior secured
      convertible debenture with a principle amount of $2,006,137.04 (in words:
      US-Dollars two million, six thousand, one hundred thirty seven dollars and
      four cents), included in the total debt and equity financing described
      above, with an interest rate of 14% p.a. and with a maturity date being
      July 29, 2012 (the “New
      Financing”). The New Financing is based on the following
      transaction documents: (i) a Ratification Agreement, (ii) Irrevocable
      Transfer Agent Instructions, (iii) a Secured Convertible Debenture, (iv) a
      Securities Purchase Agreement and (v) a Warrant (collectively the “New Financing Transaction
      Documents”). The New Financing Transaction Documents were executed
      on May 27, 2010. The Transferor will have access to the funds provided to
      its parent entity NeoMedia Inc. under the New Financing for its general
      working capital purposes.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              D.

            	
              Pursuant
      to Section 7 of the Ratification Agreement NeoMedia Inc. has undertaken to
      cooperate fully with the Transferee to cause the Transferor (subject to
      and only to the extent legally permissible under German law) to execute
      and deliver to the Transferee any and all documents, instruments, or
      agreements in a form and substance acceptable to the Transferee in all
      respects (including, without limitation, a Share Pledge Agreement,
      Security Assignment Agreement, and IP Pledge Agreement) pursuant to which
      the Transferor shall become a guarantor of the Obligations (as defined in
      Section 1 of the Ratification Agreement) and grant a first priority
      perfected security interest in favor of the Transferee in all of the
      Transferor’s assets, including without limitation, all intellectual
      property.

            

    

     

    
      	
              E.

            	
              In
      order to give effect to the foregoing, and without prejudice to any other
      security interests already provided under the Existing Financing Documents
      or to be provided as condition precedent to the closing of the New
      Financing, Transferor herewith grants Transferee a security interest in
      form of a security assignment (Sicherungsübereignung)
      over its movable assets.

            

    

     

    Now,
therefore, the Parties enter in the following agreement (the "Agreement") as
follows:

     

    
      	
              1.

            	
              Definitions

            

    

     

    
      Terms
used but not otherwise defined herein shall have the meanings ascribed thereto
in the New Financing Transaction Documents.

       

    

    
      	
              2.

            	
              Transfer
      of Title for Security Purposes
  „SICHERUNGS­ÜBEREIGNUNG"

            

    

     

    
      	
              2.1

            	
              The
      Transferor hereby transfers to the Transferee title (Sicherungseigentum)
      to:

            

    

     

    
      
        	
              	
                (a)

              	
                all
      its present and future movable inventory, as well as all other raw
      materials and supplies, finished and unfinished products and merchandise
      located now and in future at the premises redlined on the map enclosed as
      Annex 2;
      and

              

      

       

    

    
      
        	
              	
                (b)

              	
                all
      its present and future production equipment and machinery (technische Anlagen und
      Maschinen) as well as furniture, fixtures and equipment (Betriebs­und
      Geschäftsausstattung) located now and in future at the premises
      redlined on the map enclosed as Annex
      2.

              

      

       

    

    
      The
annexes form an integral part of this Agreement. The premises specified pursuant
to Sections 2.1 (a) to 2.1 (b) are referred to as the "Premises" and the transferred
assets as the "Collateral".

       

    

    
      	
              2.2

            	
              To
      the extent that the Transferor has ownership or co-ownership (Miteigentum) of the
      Collateral or acquires such rights in the future the Transferor hereby
      transfers to the Transferee the ownership or co-ownership. To the extent
      that the Transferor has any inchoate rights (Anwartschaftsrechte) in
      respect of the Collateral the Transferor hereby transfers to the
      Transferee such inchoate rights.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              2.3

            	
              Delivery
      of possession of the Collateral to the Transferee is hereby replaced by
      the agreement that the Transferor retains actual possession and holds the
      Collateral in gratuitous custody (unentgeltliche
      Verwahrung) for the Transferee to the effect that the Transferee
      becomes indirect possessor (mittelbarer Besitzer)
      as defined in section 868 of the German Civil Code "Bürgerliches
      Gesetzbuch" – "BGB" with respect to
      the Collateral. The Transferor hereby further assigns all present and
      future claims against third parties obtaining actual possession of the
      Collateral to the Transferee. The Transferee hereby accepts such
      assignment.

            

    

     

    
      	
              2.4

            	
              The
      Transferee hereby accepts the transfer of the Collateral and the transfer
      of the inchoate rights.

            

    

     

    
      	
              3.

            	
              Secured
      Obligations

            

    

     

    
      The
transfer of title hereunder is constituted in order to secure the prompt and
complete satisfaction of any and all obligations (present and future, actual and
contingent) which are (or are expressed to be) or become owing by NeoMedia Inc.
and its affiliates and subsidiaries (including the Transferor) to the Transferee
under the Existing Financing and the New Financing, in particular, the Secured
Convertible Debenture, and under any additional future financing provided by the
Transferee to NeoMedia Inc., as the case might be. The secured obligations
shall, for the avoidance of doubt, also include obligations incurred by the
Transferor on or after the opening of insolvency proceedings, shall apply to the
Transferor irrespective of any corporate restructuring or transformation and
shall also apply to any contingent obligations on the grounds of invalidity or
unenforceability of the Existing Financing Documents and / or the New Financing
Transaction Documents, in particular claims on the grounds of unjustified
enrichment (ungerechtfertigte
Bereicherung) (together referred to as the "Secured
Obligations").

       

    

    
      	
              4.

            	
              Use
      and Disposal of Collateral

            

    

     

    
      	
              4.1

            	
              The
      Transferor is authorised to use and, as the case may be, dispose of the
      Collateral on its own behalf in the ordinary course of business as long as
      such authorisation has not been revoked by the
  Transferee.

            

    

     

    
      	
              4.2

            	
              The
      Transferee is entitled to revoke in writing the aforementioned
      authorisation and claim delivery of the Collateral upon an Event of
      Default (as defined below in Section
7.1).

            

    

     

    
      	
              4.3

            	
              Upon
      expiry of the Transferor's authorisation to use and dispose of the
      Collateral the Transferee is entitled to claim delivery of all documents
      pertaining to the Collateral.

            

    

     

    
      	
              5.

            	
              Undertakings

            

    

     

    The
Transferor undertakes towards the Transferee as follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              5.1

            	
              Principal
      Undertakings

            

    

     

    
      
        	
              	
                (a)

              	
                to
      execute without undue delay all documents and do all things as the
      Transferee may reasonably require to perfect and protect the security
      created by a security transfer or to facilitate the enforcement or
      realisation of the security created by such security
    transfer;

              

      

       

    

    
      
        	
              	
                (b)

              	
                not
      to do or cause or permit to be done anything which will, or could be
      reasonably expected to, materially adversely affect the security or the
      rights of the Transferee under this Agreement or which in any way
      materially depreciates, jeopardises or otherwise prejudices the security
      created under this Agreement; and

              

      

       

    

    
      
        	
              	
                (c)

              	
                to
      ensure, as far as legally possible and economically reasonable, that all
      rights granted to the Transferee are prior in ranking to any rights of
      third parties.

              

      

       

    

    
      	
              5.2

            	
              List of
      Collateral

            

    

     

    
      
        	
              	
                (a)

              	
                Upon
      the occurrence of an Event of Default which is continuing, the Transferor
      shall submit to the Transferee all information, lists and reports which
      the Transferee considers to be necessary in order to evaluate the
      Collateral. All lists to be submitted to the Transferee shall contain at
      least the following information:

              

      

       

    

    
      
        	
              	
                (i)

              	
                a
      list of the complete Collateral owned by the Transferor by delivering a
      detailed description and listing of each single object including accurate
      information about its current market
price;

              

      

       

    

    
      
        	
              	
                (ii)

              	
                information
      about the extent, against whom and with respect to which objects the
      Transferor has inchoate rights; and

              

      

       

    

    
      
        	
              	
                (iii)

              	
                a
      detailed description of the Premises where the Collateral is
      located.

              

      

       

    

    
      
        	
              	
                (b)

              	
                Notwithstanding
      clause (a) above, in order to protect its legitimate interests the
      Transferee is entitled to request the delivery of the above mentioned
      lists at any time but not more than once per calendar year. Furthermore,
      the Transferee, acting reasonably, is entitled to request additional
      information or documents from the Transferor in order to protect its
      legitimate interests.

              

      

       

    

    
      
        	
              	
                (c)

              	
                The
      lists referred to in Section 5.2 (a) shall serve for the purpose of
      notification only. This means that the Collateral transferred pursuant to
      Section 2 of this Agreement shall be fully owned by the Transferee even if
      the Collateral is not or only partially listed in the lists submitted to
      the Transferee.

              

      

       

    

    
      	
              5.3

            	
              Reporting
      Obligations

            

    

     

    
      
        	
              	
                (a)

              	
                In
      the event that the value of the Collateral transferred to the Transferee
      is subsequently affected because of complaints or for other reasons the
      Transferor shall immediately notify the Transferee thereof, and he will
      act in accordance with the instructions given by the Transferee. The
      Transferor's obligation to notify pursuant to this Section 5.3 (a) only
      exists if the value of the security granted by this Agreement is
      substantially affected.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

    

    
      
        	
              	
                (b)

              	
                In
      the event that the Transferee's entitlement to the transferred Collateral
      is impaired or jeopardised by attachment (Pfändung), transfer
      order (Überweisung) or
      otherwise the Transferor shall immediately notify the Transferee thereof.
      In case of an attachment the Transferor shall deliver to the Transferee a
      copy of the attachment and transfer order (Pfändungs- und
      Überweisungsbeschluss) and all other documents necessary to object
      against the attachment and he shall notify the attaching creditor
      immediately of the Transferee's security
  interest.

              

      

       

    

    
      	
              5.4

            	
              Right of
      Inspection

            

    

     

    
      
        	
              	
                (a)

              	
                The
      Transferee has the right to inspect or have inspected by authorised
      personnel the Transferor's documents in order to evaluate and enforce the
      Collateral, if a right of realisation
exists.

              

      

       

    

    
      
        	
              	
                (b)

              	
                To
      the extent that the Collateral has been recorded in Electronic Data
      Processing (“EDP”)
      systems, the Transferor shall allow – if a right of realisation exists –
      the Transferee, upon the latter's written demand, to use the EDP system,
      including the periphery, with the data stored in respect of all bookings
      relating to the assignment, and the Transferor shall further make
      available the operators and the necessary programs (software) required in
      connection therewith, and shall do whatever is necessary to put the EDP
      system into operation and repair the same or
  otherwise.

              

      

       

    

    
      
        	
              	
                (c)

              	
                Any
      person inspecting any of the Transferor’s documents shall be bound by a
      confidentiality agreement in form and substance reasonably acceptable to
      the Transferor.

              

      

       

    

    
      	
              5.5

            	
              Handling of the Collateral,
      Third Parties' Rights

            

    

     

    
      
        	
              	
                (a)

              	
                Subject
      to the right of use and disposal pursuant to Section 4, the Transferor
      will use reasonable endeavours to ensure the Collateral does not leave the
      Premises and that it is handled
properly.

              

      

       

    

    
      
        	
              	
                (b)

              	
                The
      Transferor shall immediately notify the Transferee of any change of the
      location of the Collateral.

              

      

       

    

    
      
        	
              	
                (c)

              	
                The
      Transferor shall where appropriate in the ordinary course of business
      terminate any person’s extended retention of title arrangements (verlängerter
      Eigentumsvorbehalt) in respect of the Collateral by paying the
      purchase price thereof.

              

      

       

    

    
      
        	
              	
                (d)

              	
                So
      far as there may be statutory liens of third parties (e.g. landlord,
      lessor, stockkeeper, work contractor) to the Collateral the Transferor
      shall, on the Transferee's request, but only after an Event of Default has
      occurred and is continuing, from the date on which the rent, storage
      charges or remuneration for contracts for work and services had been due,
      furnish proof to the Transferee of such
payment.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    
      	
              5.6

            	
              Insurance of the
      Collateral

            

    

     

    
      
        	
              	
                (a)

              	
                During
      the term of the transfer the Transferor shall provide the Collateral with
      market standard insurance cover against the usual risks, substantially in
      line with the provisions of the Existing Financing Documents, in
      particular with the clause 6.5 (b) of the 2008 Security Agreement (as
      listed and defined in Annex
1).

              

      

    

    
       

      
        	
              	
                (b)

              	
                The
      Transferor shall notify the respective insurer immediately
      that:

              

      

       

    

    
      
        	
              	
                (i)

              	
                the
      Transferee holds the title of the
Collateral;

              

      

       

    

    
      
        	
              	
                (ii)

              	
                the
      Transferee holds all rights arising from the insurance agreement to the
      extent they relate to the
Collateral;

              

      

       

    

    
      
        	
              	
                (iii)

              	
                any
      payments under the insurance agreements relating to damages during the
      term of the transfer are to be performed directly to the Transferee;
      and

              

      

       

    

    
      
        	
              	
                (iv)

              	
                the
      Transferee assumes only the rights and not the obligations arising from
      the insurance agreement, with the further limitation that, without the
      Transferee's consent, the Transferor is not entitled to cancellation of
      the insurance agreement.

              

      

       

    

    
      The
Transferor procures that the insurer submits an insurance certificate "Versicherungsschein" to the
Transferee.

       

    

    
      
        	
              	
                (c)

              	
                Upon
      the Transferee's request the Transferor shall immediately submit to the
      Transferee original copies, copies or sufficient extracts of each
      insurance policy together with a premium receipt or other proof of payment
      and, upon the Transferee's reasonable request, an esteemed insurance
      broker's report regarding such insurance
policy.

              

      

       

    

    
      	
              6.

            	
              Other
      Rights of Transferee

            

    

     

    
      	
              6.1

            	
              If,
      and to the extent, documents required for the evaluation or realisation of
      the Collateral have been delivered by the Transferor to a third party
      (especially to an accountant or tax advisor) the Transferor hereby assigns
      to the Transferee his claims against such third party for providing
      information and for delivering such documents and hereby authorises the
      third party to provide the Transferee with such information and documents
      required to evaluate and realise the
Collateral.

            

    

     

    
      	
              6.2

            	
              In
      so far as the EDP is executed by third parties the Transferor hereby
      assigns to the Transferee all its claims for performance and authorises
      these third parties to execute the electronic data processing on behalf of
      the Transferee in the same manner as they were obliged to towards the
      Transferor, provided that the Transferee requests them to do
      so.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              6.3

            	
              In
      order to protect its legitimate interests the Transferee is entitled to
      revoke the authorisation to use and dispose of the Collateral and to
      request delivery of the Collateral if the Transferor is in a material
      breach of its duty to handle the Collateral with care or if it disposes of
      the Collateral not in the ordinary course of
  business.

            

    

     

    
      	
              6.4

            	
              If
      no proof is furnished that mature claims for rent, storage charges or
      remuneration for contracts for work and services have been satisfied by
      the Transferor the Transferee will be entitled to effect payment at the
      Transferor's expense in order to avert such third parties'
      liens.

            

    

     

    
      	
              6.5

            	
              The
      Transferor hereby assigns to the Transferee all present and future claims
      against the insurance companies for the security purpose set out in
      Section 3 of this Agreement.

            

    

     

    
      	
              6.6

            	
              The
      Transferee hereby accepts such
assignment.

            

    

     

    
      	
              7.

            	
              Realisation
      of Collateral

            

    

     

    
      	
              7.1

            	
              Upon
      the occurrence of an event of default as defined in any of the Existing
      Financing Documents or the New Financing Transaction Documents (in
      particular as set forth in clause 2 of the Secured Convertible Debenture)
      (“Event of
      Default”) and notwithstanding the provisions in Section 4 of this
      Agreement the Transferee is entitled to revoke the right of use and
      disposal as described in Section 4 above, to request delivery of the
      Collateral, to realise the Collateral and enforce all other rights arising
      from this Agreement.

            

    

     

    
      	
              7.2

            	
              Upon
      the occurrence of an Event of Default the Transferee shall be authorised
      to terminate retention of title arrangements (Eigentumsvorbehalt) by
      paying the purchase price thereof or part thereof on behalf and at the
      expense of the Transferor. The Transferor hereby waives its right to
      object against such performance by the
  Transferee.

            

    

     

    
      	
              7.3

            	
              In
      the event of a realisation the Transferor shall immediately submit to the
      Transferee all documents relating to the Collateral (and other documents
      required).

            

    

     

    
      	
              7.4

            	
              Before
      realisation the Transferee shall give written warning to the Transferor
      twenty (20) days in advance. Advance warning is not required if the
      Transferor or an obligor has ceased payment or has been subject to
      insolvency proceedings.

            

    

     

    
      	
              7.5

            	
              The
      Transferee is entitled to realise the Collateral also by private sale
      (freihändiger
      Verkauf) on its own behalf or on the Transferor's behalf. The
      Transferee shall use its best endeavours to achieve the best obtainable
      price. At the Transferee's request the Transferor will assist in the
      realisation or, according to the instructions of the Transferee, sell the
      Collateral at best offer. The Transferor will pass any payment or any
      other benefit obtained from the realisation on to the
      Transferee.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              7.6

            	
              The
      Transferee may, at its sole discretion, determine which of several
      securities shall be used to satisfy the Secured
    Obligations.

            

    

     

    
      	
              7.7

            	
              In
      addition, upon an Event of Default, Transferee has all rights set forth in
      the New Financing Transaction Documents and the Existing Financing
      Documents, in particular those provided for in Article 5, Section 5 of the
      2008 Security Agreement (as listed and defined in Annex 1). These rights
      are incorporated herein in their entirety by way of
    reference.

            

    

     

    
      	
              7.8

            	
              Notwithstanding
      the foregoing, any enforcement of the security created under this
      Agreement is restricted if and to the extent a claim for recourse (Rückgriffsanspruch)
      against the Transferor's direct or indirect shareholder whose obligations
      towards the Transferee are secured hereby and that would only come into
      existence as a result of such enforcement is, in the reasonable opinion of
      the Transferor, not fully valuable (voll werthaltig). In
      the event the Transferor refers to this Section 7.8 in case of any future
      enforcement of the security created under this Agreement, it shall be
      obligated - at the Transferee's written request - to render to the
      Transferee a substantiated written statement supported by a suitable
      reasoning and other suitable evidence demonstrating that and why he
      considers the conditions for the enforcement restriction to be
      fulfilled.

            

    

     

    The
enforcement restriction does not apply if and to the extent that the Transferor
has received through its direct or indirect shareholder funds from the Existing
Financing, the New Financing or any additional future financing, as the case may
be and such funds have not been repaid or paid to any of its direct or indirect
shareholders.

     

    
      	
              8.

            	
              Release

            

    

     

    
      Upon
complete satisfaction of the Secured Obligations the Transferee will retransfer
the Collateral to the Transferor and surrender to the Transferor any remaining
surplus arising from the realisation. The Transferee will, however, transfer any
of the Collateral to a third party if and to the extent it is obliged to do
so.

       

    

    
      	
              9.

            	
              Notifications

            

    

     

    
      Any
notice or other communication under or in connection with this Agreement shall
be in writing and shall be delivered personally, or sent by post, courier or by
facsimile transmission:

       

    

    
      	
              9.1

            	
              In
      the case of the Transferee, to:

            

    

     

    Yorkville
Advisors LLC

    101
Hudson Street, Suite 3700

    Jersey
City, New Jersey 07302

    USA

    Attention:
Mark Angelo

    Phone
no. :   +1 201 985 8300

    Fax
no.:        +1 201 985 8117

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      with a copy
to:

    

    

    YA
Global Investments, LP

    101
Hudson Street, Suite 3700

    Jersey
City, NJ 07302

    USA

    Attention:
David Gonzalez

    Phone
no.:  +1 201 985
8300

    Fax
no.:      +1 201 985 8117

     

    
      	
              9.2

            	
              In
      the case of the Transferor, to:

            

    

     

    
      	
               
      

            	
              NeoMedia Europe
      AG,

            

    

    
      	
               
      

            	
              Jens-Otto-Krag-Straße
      11,

            

    

    
      	
               
      

            	
              52146
      Würselen,

            

    

    
      	
               
      

            	
              Germany

            

    

    
      	
               
      

            	
              Attention :
      Chief Executive Officer

            

    

    
      	
               
      

            	
              Phone
      no.:   +49 2405 49922
x44

            

    

    
      	
               
      

            	
              Fax
      no.:       +49 2405 49922
      x99

            

    

     

    
      	
               
      

            	
              with a copy
      to:

            

    

     

    
      	
               
      

            	
              NeoMedia Technologies,
      Inc.

            

    

    
      	
               
      

            	
              Two
      Concourse Parkway, Suite 500

            

    

    
      	
               
      

            	
              Atlanta,
      GA 30328

            

    

    
      	
               
      

            	
              USA

            

    

    
      	
               
      

            	
              Attention :
      Chief Executive Officer or Chief Financial
  Officer

            

    

    
      	
               
      

            	
              Phone
      no.: +1 678 638 0460 (x132)

            

    

    
      	
               
      

            	
              Fax
      no.:     +1 678 638
  0466

            

    

     

    
      	
               
      

            	
              and

            

    

    

    
      	
               
      

            	
              K&L
      Gates LLP

            

    

    
      	
               
      

            	
              200
      South Biscayne Boulevard – Suite
3900

            

    

    
      	
               
      

            	
              Miami,
      FL 33131-2399

            

    

    
      	
               
      

            	
              USA

            

    

    
      	
               
      

            	
              Attention:
      Clayton E. Parker, Esq.

            

    

    
      	
               
      

            	
              Phone
      no.:   +1 305 539
3300

            

    

    
      	
               
      

            	
              Fax
      no:        +1 305 358
      7095

            

    

    
      

    

    
      or to the
address notified at the point of closing or any other address later notified in
writing to the other Party at least 15 days in advance.

    

    
      

    

    
      Communications
shall be in the English language or, if in any other language, accompanied by a
translation into English. In the event of any conflict between the English text
and the text in any other language, the English text shall prevail. Any changes
in the authority to represent the Transferor shall be notified to the Transferee
in a timely manner.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    
      	
              9.3

            	
              Liability and
      Indemnity

            

    

     

    
      The
Transferee shall not be liable for any loss or damage suffered by the Transferor
save in respect of such loss or damage which is suffered as a result of the
wilful misconduct or gross negligence of the Transferee. The Transferor shall
indemnify the Transferee and keep the Transferee indemnified against any and all
damages, losses, actions, claims, expenses, demands and liabilities which may be
incurred by or made against the Transferee for anything done or omitted in the
exercise or purported exercise of the powers contained herein and occasioned by
any breach of the Transferor of any of its obligations or undertakings herein
contained other than to the extent that such damages, losses, actions, claims,
expenses, demands and liabilities are incurred or made against any of the
Transferee as a result of the gross negligence or wilful misconduct of the
Transferee.

       

    

    
      	
              9.4

            	
              Costs and
      Fees

            

    

     

    
      
        	
              	
                (a)

              	
                The
      Transferor will pay all costs, expenses and fees (including legal costs)
      in each case plus VAT, if applicable, accruing thereon, reasonably
      incurred in connection with the preparation of this Agreement, including
      all court fees and lawyers' fees.

              

      

       

    

    
      
        	
              	
                (b)

              	
                The
      Transferor will pay all costs, expenses and fees (including legal costs)
      in each case plus VAT, if applicable, accruing thereon, reasonably
      incurred in connection with the realisation of this Agreement, in
      particular in connection with the public auction of the Collateral,
      including all court fees and reasonable lawyers'
  fees.

              

      

       

    

    
      	
              9.5

            	
              Waivers

            

    

     

    
      No
failure or delay on the part of the Transferee in the exercise of any power,
right, privilege or remedy hereunder shall be construed to be a waiver thereof,
nor shall any single or partial exercise of any such right or remedy preclude
any further or other exercise thereof or the exercise of any other right or
remedy. The rights or remedies provided hereunder are cumulative to and not
exclusive of any rights or remedies otherwise available.

       

    

    
      	
              10.

            	
              Amendments

            

    

     

    
      Unless
notarial form is required, any changes, amendments and waivers of any provision
of this Agreement - including this Section 11 - require written form in order to
become valid. No oral supplements to this Agreement have been made.

       

    

    
      	
              11.

            	
              German
      legal terms

            

    

     

    If
provisions in this Agreement include English terms after which either in the
same provision or elsewhere in this Agreement German terms have been inserted in
brackets and/or italics, the respective German terms alone and not the English
terms shall be authoritative for the interpretation of the respective
provisions.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              12.

            	
              Partial
      Invalidity

            

    

     

    
      If any of
the provisions of this Agreement should be or become invalid, unenforceable or
impractical in whole or in part, the validity of the other provisions hereof
shall not be affected. In that case the invalid, unenforceable or impractical
provision shall be replaced by such valid and enforceable provision or
arrangement, which corresponds as closely as possible to the invalid,
unenforceable or impractical provision and to the Parties' economic aims pursued
by and reflected in this Agreement. The same applies in the event that this
Agreement does not contain a provision which it needs to contain in order to
achieve the economic purpose as expressed herein (Regelungslücke).

       

    

    
      	
              13.

            	
              Choice
      of Law

            

    

     

    
      This
Agreement shall be governed by and construed in accordance with the laws of the
Federal Republic of Germany, without regard to the rules of conflict of
laws.

       

    

    
      	
              14.

            	
              Place
      of Jurisdiction

            

    

     

    
      Any legal
action or proceedings arising out of or in connection with this Agreement shall
be brought in the courts in Düsseldorf. The foregoing shall, however, not limit
the right of the Transferee to bring any legal action against the Transferor in
any other court of competent jurisdiction.

       

      
 

    

    
      This
Agreement is signed in Aachen on
August 13, 2010 as follows:

    

    
      

    

    
      

    

    
      NeoMedia
Europe AG:

    

    
      

    

    
      /s/  C.
Steinborn

       

    

    
      Name: Dr.
C. Steinborn

       

      Title: 
CEO 

       

    

    
      

    

    
      

    

    
      YA
Global Investments, L.P.:

    

    
      

    

    
      /s/ Gerald
Eicke

         

      

    

    
      
        
          Name:
Gerald Eicke

           

          Title:
Managing
Member of Yorkville
Advisors, Investment Manager

           

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    Annex
1

     

    List
of Existing Financing Documents

     

     

    DEBENTURES AND
NOTES

     

    
      	
              1.

            	
              Secured
      Convertible Debenture dated August 23, 2006 issued by the Borrower to the
      Lender in the original principal amount of $5,000,000.00 (hereinafter, as
      amended and in effect, the “CCP-1 Debenture”), as amended by that certain
      Amendment to NeoMedia the Borrower, Inc. Secured Convertible Debenture No.
      CCP-1 dated as of January 5, 2010 entered into by and between the Borrower
      and the Lender;

            

    

     

    
      	
              2.

            	
              Secured
      Convertible Debenture dated December 29, 2006 issued by the Borrower to
      the Lender in the original principal amount of $2,500,000.00 (hereinafter,
      as amended and in effect, the “CCP-2 Debenture”), as amended by that
      certain Amendment to NeoMedia the Borrower, Inc. Secured Convertible
      Debenture No. CCP-2 dated as of January 5, 2010 by and between the
      Borrower and the Lender;

            

    

     

    
      	
              3.

            	
              Secured
      Convertible Debenture dated March 27, 2007 issued by the Borrower to the
      Lender in the original principal amount of $7,458,651.00 (hereinafter, as
      amended and in effect, the “NEOM-4-1 Debenture”), as amended by that
      certain Amendment to NeoMedia the Borrower, Inc. Secured Convertible
      Debenture No. NEOM-4-1 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              4.

            	
              Secured
      Convertible Debenture dated August 24, 2007 issued by the Borrower to the
      Lender in the original principal amount of $1,775,000.00 (hereinafter, as
      amended and in effect, the “NEOM-1-1 Debenture”), as amended by that
      certain letter agreement dated as of August 14, 2009, and as further
      amended by that certain Amendment to NeoMedia Technologies, Inc. Secured
      Convertible Debenture No. NEOM-1-1 dated as of January 5, 2010 entered
      into by and between the Borrower and the
Lender;

            

    

     

    
      	
              5.

            	
              Secured
      Convertible Debenture dated April 11, 2008 issued by the Borrower to the
      Lender in the original principal amount of $390,000.00 (hereinafter, as
      amended and in effect, the “NEOM-2008-1 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-2008-1 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              6.

            	
              Secured
      Convertible Debenture dated May 16, 2008 issued by the Borrower to the
      Lender in the original principal amount of $500,000.00 (hereinafter, as
      amended and in effect, the “NEOM-2008-2 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-2008-2 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              7.

            	
              Secured
      Convertible Debenture dated May 29, 2008 issued by the Borrower to the
      Lender in the original principal amount of $790,000.00 (hereinafter, as
      amended and in effect, the “NEOM-2008-3 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-2008-3 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              8.

            	
              Secured
      Convertible Debenture dated July 10, 2008 issued by the Borrower to the
      Lender in the original principal amount of $137,750.00 (hereinafter, as
      amended and in effect, the “NEOM-2008-4 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-2008-4 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              9.

            	
              Secured
      Convertible Debenture dated July 29, 2008 issued by the Borrower to the
      Lender in the original principal amount of $2,325,000.00 (hereinafter, as
      amended and in effect, the “NEOM-9-1 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-9-1 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              10.

            	
              Secured
      Convertible Debenture dated October 28, 2008 issued by the Borrower to the
      Lender in the original principal amount of $2,325,000.00 (hereinafter, as
      amended and in effect, the “NEOM-9-2 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-9-2 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              11.

            	
              Secured
      Convertible Debenture dated May 1, 2009 issued by the Borrower to the
      Lender in the original principal amount of $550,000.00 (hereinafter, as
      amended and in effect, the “NEOM-9-4 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-9-4 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              12.

            	
              Secured
      Convertible Debenture dated June 5, 2009 issued by the Borrower to the
      Lender in the original principal amount of $715,000.00 (hereinafter, as
      amended and in effect, the “NEOM-9-5 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-9-5 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              13.

            	
              Secured
      Convertible Debenture dated July 15, 2009 issued by the Borrower to the
      Lender in the original principal amount of $535,000.00 (hereinafter, as
      amended and in effect, the “NEOM-9-6 Debenture”), as amended by that
      certain Amendment to NeoMedia Technologies, Inc. Secured Convertible
      Debenture No. NEOM-9-6 dated as of January 5, 2010 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              14.

            	
              Secured
      Convertible Debenture dated August 14, 2009 issued by the Borrower to the
      Lender in the original principal amount of $475,000.00 (hereinafter, as
      amended and in effect, the “NEOM-9-7 Debenture”, and collectively,
      together with the CCP-1 Debenture, the CCP-2 Debenture, the NEOM 4-1
      Debenture, the NEOM 1-1 Debenture, the NEOM 2008-1 Debenture, the NEOM
      2008-2 Debenture, the NEOM 2008-3 Debenture, the NEOM 2008-4 Debenture,
      the NEOM 9-1 Debenture, the NEOM 9-2 Debenture, the NEOM 9-4 Debenture,
      the NEOM 9-5 Debenture, the NEOM 9-6 Debenture, the NEOM 9-7 Debenture,
      and the New Debenture, the “Debentures”), as amended by that certain
      Amendment to NeoMedia Technologies, Inc. Secured Convertible Debenture No.
      NEOM-9-7 dated as of January 5, 2010 entered into by and between the
      Borrower and the Lender;

            

    

     

    
      	
              15.

            	
              Promissory
      Note dated April 1, 2010 made by the Borrower payable to the Lender in the
      original principal amount of $500,000.00 (hereinafter, the “4/1/10 Note”,
      and collectively, together with the Debentures and the 12/23/09 Note, the
      “Debt Instruments”);

            

    

     

    
      	
              16.

            	
              Master
      Amendment Agreement dated as of March 27, 2007 by and between the Borrower
      and the Lender;

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SECURITIES PURCHASE
AGREEMENTS

     

    
      	
              17.

            	
              Securities
      Purchase Agreement dated as of August 23, 2006 entered into by and between
      the Borrower and the Lender;

            

    

     

    
      	
              18.

            	
              Securities
      Purchase Agreement dated as of December 29, 2006 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              19.

            	
              Securities
      Purchase Agreement dated as of March 27, 2007 entered into by and between
      the Borrower and the Lender;

            

    

     

    
      	
              20.

            	
              Securities
      Purchase Agreement dated as of August 24, 2007 entered into by and between
      the Borrower and the Lender;

            

    

     

    
      	
              21.

            	
              Securities
      Purchase Agreement dated as of July 29, 2008 entered into by and between
      the Borrower and the Lender, as amended on April 6,
  2009;

            

    

     

    
      	
              22.

            	
              Agreement
      dated June 5, 2009 by and between the Borrower and the Lender pursuant to
      which the Lender purchased a secured convertible debenture in the original
      principal amount of $715,000;

            

    

     

    
      	
              23.

            	
              Agreement
      dated July 15, 2009 by and between the Borrower and the Lender pursuant to
      which the Lender purchased a secured convertible debenture in the original
      principal amount of $535,000;

            

    

     

    
      	
              24.

            	
              Agreement
      dated August 14, 2009 by and between the Borrower and the Lender pursuant
      to which the Lender purchased a secured convertible debenture in the
      original principal amount of
$475,000;

            

    

     

     

    SECURITY
DOCUMENTS

     

    
      	
              25.

            	
              Pledge
      and Security Agreement dated as of August 23, 2006 entered into by and
      between the Borrower and the
Lender;

            

    

     

    
      	
              26.

            	
              Security
      Agreement dated as of March 27, 2007 entered into by and between the
      Obligors and the Lender;

            

    

     

    
      	
              27.

            	
              Security
      Agreement (Patent) dated as of March 27, 2007 entered into by and between
      the Obligors and the Lender;

            

    

     

    
      	
              28.

            	
              Security
      Agreement dated as of August 24, 2007 entered into by and between the
      Obligors and the Lender;

            

    

     

    
      	
              29.

            	
              Security
      Agreement (Patent) dated as of August 24, 2007 entered into by and between
      the Obligors and the Lender;

            

    

     

    
      	
              30.

            	
              Security
      Agreement dated as of July 29, 2008 entered into by and between the
      Borrower and the Lender (the “2008 Security
  Agreement”);

            

    

     

    
      	
              31.

            	
              Patent
      Security Agreement dated as of July 29, 2008 entered into by and between
      the Borrower and the Lender (the “2008 IPSA”, and together with the 2008
      Security Agreement, the “2008 Collateral
  Agreements”);

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    WARRANTS

     

    
      	
              32.

            	
              “A”
      Warrant No. CCP-001 dated February 17, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      20,000,000 shares of the Borrower’s common stock, as amended by that
      certain Amendment to “A” Warrant No. CCP-001 dated as of August 23, 2006
      entered into by and between the Borrower and the Lender, as further
      amended by that certain Amendment to “A” Warrant No.: CCP-001 dated
      December 29, 2006;

            

    

     

    
      	
              33.

            	
              “B”
      Warrant No. CCP-002 dated February 17, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      25,000,000 shares of the Borrower’s common stock, as amended by that
      certain Amendment to “B” Warrant No. CCP-002 dated as of August 23, 2006
      entered into by and between the Borrower and the Lender, as further
      amended by that certain Amendment to “B” Warrant No.: CCP-002 dated
      December 29, 2006;

            

    

     

    
      	
              34.

            	
              “C”
      Warrant No. CCP-003 dated February 17, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      30,000,000 shares of the Borrower’s common stock, as amended by that
      certain Amendment to “C” Warrant No. CCP-003 dated as of August 23, 2006
      entered into by and between the Borrower and the Lender, as further
      amended by that certain Amendment to “C” Warrant No.: CCP-003 dated
      December 29, 2006;

            

    

     

    
      	
              35.

            	
              “A”
      Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      25,000,000 shares of the Borrower’s common stock, as amended by that
      certain Amendment to “A” Warrant No. CCP-001 dated as of December 29, 2006
      entered into by and between the Borrower and the
  Lender;

            

    

     

    
      	
              36.

            	
              “B”
      Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      50,000,000 shares of the Borrower’s common stock, as amended by that
      certain Amendment to “B” Warrant No. CCP-001 dated as of December 29, 2006
      entered into by and between the Borrower and the
  Lender;

            

    

     

    
      	
              37.

            	
              “C”
      Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      50,000,000 shares of the Borrower’s common stock, as amended by that
      certain Amendment to “C” Warrant No. CCP-001 dated as of December 29, 2006
      entered into by and between the Borrower and the
  Lender;

            

    

     

    
      	
              38.

            	
              “D”
      Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      50,000,000 shares of the Borrower’s common
  stock;

            

    

     

    
      	
              39.

            	
              “A”
      Warrant No. CCP-001 dated December 29, 2006 executed and delivered to the
      Lender by the Borrower granting the Lender the right to purchase
      42,000,000 shares of the Borrower’s common
  stock;

            

    

     

    
      	
              40.

            	
              Warrant
      No. NEOM-4-1 dated March 27, 2007 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 125,000,000 shares
      of the Borrower’s common stock;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              41.

            	
              Warrant
      No. NEOM-1-1 dated August 24, 2007 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 75,000,000 shares
      of the Borrower’s common stock;

            

    

     

    
      	
              42.

            	
              Warrant
      No. NEO-2008-2 dated May 16, 2008 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 7,500,000 shares of
      the Borrower’s common stock;

            

    

     

    
      	
              43.

            	
              Warrant
      No. NEO-2008-3 dated May 29, 2008 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 50,000,000 shares
      of the Borrower’s common stock;

            

    

     

    
      	
              44.

            	
              Warrant
      No. NEOM-9-1 dated July 29, 2008 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 100,000,000 shares
      of the Borrower’s common stock;

            

    

     

    
      	
              45.

            	
              Warrant
      No. NEOM-9-1-B dated July 29, 2008 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 100,000,000 shares
      of the Borrower’s common stock, as amended by that certain Amendment to
      NeoMedia Technologies, Inc. Warrant No. NEOM-9-1B dated as of January 5,
      2010 entered into by and between the Borrower and the
    Lender;

            

    

     

    
      	
              46.

            	
              Warrant
      No. NEOM-9-1-C dated July 29, 2008 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 125,000,000 shares
      of the Borrower’s common stock, as amended by that certain Amendment to
      NeoMedia Technologies, Inc. Warrant No. NEOM-9-1C dated as of January 5,
      2010 entered into by and between the Borrower and the
    Lender;

            

    

     

    
      	
              47.

            	
              Warrant
      No. NEOM-9-1-D dated July 29, 2008 executed and delivered to the Lender by
      the Borrower granting the Lender the right to purchase 125,000,000 shares
      of the Borrower’s common stock, as amended by that certain Amendment to
      NeoMedia Technologies, Inc. Warrant No. NEOM-9-1D dated as of January 5,
      2010 entered into by and between the Borrower and the
    Lender;

            

    

     

    
      	
              48.

            	
              Warrant
      No. NEOM-10-1 dated January 5, 2010 executed and delivered to the Lender
      by the Borrower granting the Lender the right to purchase 225,000,000
      shares of the Borrower’s common
stock;

            

    

     

    
      	
              49.

            	
              Letter
      Agreement re: Repricing of All Existing Warrants dated August 24, 2007
      entered into by and between the Borrower and the
  Lender;

            

    

     

    
      	
              50.

            	
              Global
      Warrant Amendment dated May 29, 2010 entered into by and between the
      Borrower and the Lender;

            

    

     

     

    REGISTRATION RIGHTS
AGREEMENTS

     

    
      	
              51.

            	
              Investor
      Registration Rights Agreement dated as of February 17, 2006 entered into
      by and between the Borrower and the Lender, as amended by the First
      Amendment to Investor Registration Rights Agreement dated and as further
      amended by that certain Second Amendment to Investor Registration Rights
      Agreement dated June 15, 2006;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              52.

            	
              Investor
      Registration Rights Agreement dated as of August 23, 2006 entered into by
      and between the Borrower and the
Lender;

            

    

     

    
      	
              53.

            	
              Investor
      Registration Rights Agreement dated as of December 29, 2006 entered into
      by and between the Borrower and the
Lender;

            

    

     

    
      	
              54.

            	
              Registration
      Rights Agreement dated as of March 27, 2007 entered into by and between
      the Borrower and the Lender;

            

    

     

    
      	
              55.

            	
              Registration
      Rights Agreement dated as of August 24, 2007 entered into by and between
      the Borrower and the Lender;

            

    

     

    
      	
              56.

            	
              Investor
      Registration Rights Agreement dated as of January 5, 2010 entered into by
      and between the Borrower and the
Lender;

            

    

     

     

    TRANSFER AGENT
INSTRUCTIONS

     

    
      	
              57.

            	
              Amended
      and Restated Irrevocable Transfer Agent Instructions dated October 26,
      2007 from the Borrower to Worldwide Stock Transfer, LLC, which amended and
      restated those certain Irrevocable Transfer Agent Instructions dated
      February 16, 2006 from the Borrower to American Stock Transfer & Trust
      Co.;

            

    

     

    
      	
              58.

            	
              Irrevocable
      Transfer Agent Instructions dated August 23, 2006 from the Borrower to
      American Stock Transfer & Trust
Co.;

            

    

     

    
      	
              59.

            	
              Amended
      and Restated Irrevocable Transfer Agent Instructions dated November 21,
      2007 from the Borrower to Worldwide Stock Transfer, LLC, which amended and
      restated those certain Irrevocable Transfer Agent Instructions dated
      December 29, 2006 from the Borrower to American Stock Transfer & Trust
      Co.;

            

    

     

    
      	
              60.

            	
              Amended
      and Restated Irrevocable Transfer Agent Instructions dated November 21,
      2007 from the Borrower to Worldwide Stock Transfer, LLC, which amended and
      restated those certain Irrevocable Transfer Agent Instructions dated
      August 23, 2006 from the Borrower to American Stock Transfer & Trust
      Co.;

            

    

     

    
      	
              61.

            	
              Irrevocable
      Transfer Agent Instructions dated March 27, 2007 from the Borrower to
      Worldwide Stock Transfer, LLC;

            

    

     

    
      	
              62.

            	
              Irrevocable
      Transfer Agent Instructions dated August 24, 2007 from the Borrower to
      Worldwide Stock Transfer, LLC;

            

    

     

    
      	
              63.

            	
              Irrevocable
      Transfer Agent Instructions dated July 29, 2008 from the Borrower to
      Worldwide Stock Transfer, LLC;

            

    

     

    
      	
              64.

            	
              Irrevocable
      Transfer Agent Instructions dated January 5, 2010 from the Borrower to
      Worldwide Stock Transfer, LLC;

            

    

     

     

    OTHER
DOCUMENTS

     

    
      	
              65.

            	
              Blocked
      Account Control Agreement (“Shifting Control”) dated as of August 28, 2008
      by and among the Borrower, the Lender, and JPMorgan Chase Bank,
      N.A.;

            

    

     

    
      	
              66.

            	
              Lockup
      Agreement dated July 28, 2008 by SKS Consulting of FL Corp. to the
      Lender;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              67.

            	
              Lockup
      Agreement dated July 28, 2008 by James J. Keil to the
    Lender;

            

    

     

    
      	
              68.

            	
              Lockup
      Agreement dated July 28, 2008 by J. Scott Womble to the
      Lender;

            

    

     

    
      	
              69.

            	
              Pledge
      Shares Escrow Agreement dated March 27, 2007 between the Borrower and the
      Lender;

            

    

     

    
      	
              70.

            	
              Monitoring
      Fee Escrow Agreement dated January 5, 2010 by and among the Borrower, the
      Lender, Yorkville Advisors, LLC, and David Gonzalez,
    Esquire;

            

    

     

    
      	
              71.

            	
              Investment
      Agreement dated February 17, 2006 by and between the Borrower and the
      Lender;

            

    

     

    
      	
              72.

            	
              Investment
      Agreement dated January 5, 2010 by and between the Borrower and the
      Lender, as amended by that certain First Amendment to Investment Agreement
      dated March 5, 2010;

            

    

     

    
      	
              73.

            	
              Escrow
      Agreement dated July 29, 2008 entered into by and among the Borrower, the
      Lender, Yorkville Advisors, LLC, as Investment Manager, and David
      Gonzalez, Esq., as Escrow Agent;

            

    

     

    
      	
              74.

            	
              Escrow
      Agreement dated April 1, 2010 entered into by and among the Borrower, the
      Lender, Yorkville Advisors, LLC, as Investment Manager, and David
      Gonzalez, Esq., as Escrow Agent;
and

            

    

     

    
      	
              75.

            	
              All
      other documents, instruments, and agreements executed in connection with
      any of the foregoing.

            

    

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Annex
2

     

    Site
Map

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