Document:

The Promissory Notes (the
"Securities") of MUSCLEPHARM CORPORATION being offered have not been registered under the Securities Act of 1933,
as amended (the "Act"), and are being offered and sold only to accredited investors in reliance upon exemptions from
the registration requirements of the Act. The Securities cannot be sold, transferred, assigned, or otherwise disposed of except
in compliance with applicable federal and state securities laws.

 

 

 

MUSCLEPHARM CORPORATION

(The "Company")

 

SUBSCRIPTION AGREEMENT

 

To be fully completed by Subscriber

 

The Company is offering up to a maximum of
$1,000,000 of Promissory Notes (the “Notes”) to accredited investors only. The Notes will be amortized over eighteen
months, bear interest at 15% and be accompanied with a warrant with 100% coverage to the total amount of the Note. 

 

The warrant which goes with the Notes will
be exercisable at a price equal to $.015 for a two year period commencing six months after the issuance of the warrant (the “Warrant”).
See the actual copy of the Promissory Note for all of the terms of the Note and see the actual copy of the Warrant for all of the
terms of the Warrant.

 

This offering will continue
until March 31, 2012 unless extended by the Company. The Company will close on each investment as cleared funds are received by
the Company. No commissions will be paid relating to the sale of the Notes.

 

If and when accepted by
the Company, this Subscription Agreement, when executed below, shall constitute an offer to purchase the Notes (in the amount set
forth). Each part of this Subscription Agreement must be completed by the Investor and by his execution below he acknowledges that
he understands that the Company is relying upon the accuracy and completeness hereof in complying with its obligations under applicable
securities laws. The purpose of this Subscription Agreement is to assure the Company that each prospective Investor meets the suitability
standards required for purchasers.

 

Please read and complete
each response:

 

(1)         I
have such knowledge and experience in business and financial matters that I am capable of evaluating the Company and the proposed
activities thereof, and the risks and merits of this prospective investment.

 

 ̈
YES      ̈ NO

 

    	 

    	 

    

 

(2)(a)     I
meet the requirements of at least one of the suitability standards for an “accredited investor” as set forth on the
Accredited Investor Questionnaire in the form of Exhibit A attached hereto.

 

 ̈
YES      ̈ NO

 

(3)         The
undersigned has read and analyzed, is familiar with and has copies of this Subscription Agreement and the following documents:

 

1. A form of the Promissory
Note;

2. A form of the Warrant.

 

The undersigned confirms
that all documents requested by the undersigned have been made available, and that the undersigned has been supplied with all
of the additional information concerning this investment that has been requested. The undersigned is also aware that he can review
the Company’s periodic reports which have been filed with the Securities and Exchange Commission by going to the web site
www.sec.gov. In making a decision to purchase the Notes, the undersigned has relied exclusively upon information available
on the SEC’s website or on information provided by the Company in writing or found in the books, records or documents of
the Company.

 

(4)         I
understand that the Securities have not been registered under the Securities Act of 1933, as amended, in reliance upon the exemption
from the registration requirements under the Act pursuant to Section 4(2) of the Act; and, therefore, that I must bear the economic
risk of the investment for an indefinite period of time since the securities cannot be sold, transferred or assigned to any person
or entity without compliance with the provisions of that Act.

 

(5)         I
represent that I have adequate means of providing for my current needs and personal contingencies and have no need for liquidity
in this investment.

 

(6)         I
represent that:

 

(a)          I
understand that I cannot sell the securities being purchased hereunder unless they are registered under the Act; or an exemption
from such registration is available.

 

(b)          I
understand that I must bear the economic risk of the investment for an indefinite period of time because the securities being purchased
hereunder have not been registered under the Act and, therefore, cannot be sold unless they are subsequently registered under the
Act, or an exemption from such registration is available, and the current holding period requirement under Rule 144 is one year.

 

(c)          I
understand that the securities are speculative in nature and involve a substantial degree of risk.

 

    	2

    	 

    

 

(d)          I
will not sell the securities being purchased hereunder without registration under the Act or an exemption there from.

 

(e)          I
agree that all Certificates representing Securities of the Company will contain or be endorsed with the following, or a substantially
equivalent, legend:

 

"THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES ACT OF ANY STATE. THE SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED FOR VALUE, PLEDGED, HYPOTHECATED, OR OTHERWISE ENCUMBERED IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION OF THEM UNDER THE SECURITIES ACT OF ANY STATE OR IN THE ABSENCE OF AN OPINION OF COUNSEL
ACCEPTABLE TO THE CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR ACTS."

 

(7)         I
represent that I am the sole party in interest as to my participation in and commitment to the Company and am acquiring the securities
solely for investment for my own account and have no present agreement, understanding, arrangement, or intent to subdivide, sell,
assign, transfer or otherwise dispose of all or any part of the securities to any other person.

 

(8)         
I am over 21 years of age (if Investor is an association, then each of its members is over such age).

 

(9)         
If the Investor is a partnership, joint venture, corporation, or trust, and is not an accredited investor, subscriber warrants
and represents that it was not organized or reorganized for the specific purpose of acquiring securities and will provide documentation
supporting this representation if so requested by the Company.

 

(10)        I
recognize that the sale of the securities to me will be based upon my representations and warranties set forth hereinabove and
the statements made by me herein and I hereby agree to indemnify MUSCLEPHARM CORPORATION and its officers and directors, and to
hold them harmless from and against any and all loss, damage, liability or expense, including costs and reasonable attorney's fees,
to which they may be put or which they may incur by reason of, or in connection with, any misrepresentation made by me in this
Subscription Agreement, any breach by the undersigned of his warranties and/or failure by me to fulfill any of my covenants or
agreements set forth herein or arising out of the sale or distribution of any securities by me in violation of the Securities Act
of 1933, as amended.

 

IN WITNESS WHEREOF, the
undersigned has completed this Subscription Agreement to evidence his subscription to MUSCLEPHARM CORPORATION on this ____ day
of __________ 2012.

 

Amount of Promissory Note $________________________

 

    	3

    	 

    

 

Funds should be wired into
MUSCLEPHARM CORPORATION account according to the following instructions:

 

	 	Name of Bank:	 
	 	ABA Routing #:	 
	 	Account #:	 

 

	 	 	 
	Name (Please Print)	 	(Signature)
	 	 	 
	Address (includes Zip Code):	 	Telephone Numbers (include country codes):
	 	 	 
		 	Business:  (___) _____________
	 	 	 
		 	Residence:  (___) ____________
	 	 	 
	Mailing Address (if different):	 	 
	 	 	 
		 	Date of Birth: __________________
	 	 	 
		 	Citizenship:  ___________________
	 	 	 
	 	 	ACCEPTED for _________________ Note
	 	 	this ____ day of ___________ 2012.
	 	 	 
	 	 	MUSCLEPHARM CORPORATION
	 	 	 
	 	 	By	 
	 	 	 	John Bluher, COO 

  

    	4Exhibit of First Amendment for CTM

||
First Amendment to 
Amended and Restated Employment Agreement

THIS FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT, dated as of March 7, 2012 (the “Effective Date”), is entered into by and between Asbury Automotive Group, Inc., a Delaware corporation (the “Company”), and Craig Monaghan (“Executive”).  All capitalized terms used herein but not defined shall have the meanings provided in the Employment Agreement (as defined below).

RECITALS

 WHEREAS, the Company and Executive are parties to that certain Amended and Restated Employment Agreement, dated as of December 30, 2011 (the “Amended and Restated Employment Agreement”); and 

WHEREAS, effective as of the Effective Date, the Company and Executive mutually desire to amend certain change in control provisions of the Amended and Restated Employment Agreement as set forth in this First Amendment to Employment Agreement (the “Amendment”).

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Company and Executive hereby amend the Amended and Restated Employment Agreement as follows:

		
	1.
	Section 1(f) of the Amended and Restated Employment Agreement is hereby deleted and replaced in its entirety with the following:

“(f) “Change in Control” shall have the meaning set forth in the Company's Amended and Restated 2002 Equity Incentive Plan, as amended and restated on February 8, 2012.”

		
	2.
	Section 4(e) of the Amended and Restated Employment Agreement is hereby deleted and replaced in its entirety with the following:

“(e) Severance (Change in Control).  If within 2 years following a Change in Control (as defined herein), Executive is terminated without Cause or resigns for Good Reason, subject to Sections 4(f) and (g) below, Executive shall be entitled to: (1) 200% of Base Salary, plus 200% of Target Annual Bonus, payable in a single lump sum; (2) a pro-rated bonus based on Target Annual Bonus for the year in which the Executive's termination of employment occurs, payable in a single lump sum when other Company bonuses are paid for such year, but in no event later than the Bonus Payment Date; and (3) continued participation for the period commencing on the date of Executive's termination of employment and ending on the 24-month anniversary thereof (the “24-Month Period”) in health, dental, disability, and life insurance plans at the same level of coverage and Executive contribution as was in effect immediately prior to Executive's termination of employment; provided, however, that if (A) any plan pursuant to which such health and dental benefits are provided is not, or ceases prior to the expiration of the 24-Month Period to be, exempt from the application of Section 409A (as defined below) under Treasury Regulation Section 1.409A-1(a)(5), (B) the Company cannot provide the health, dental, disability and/or life insurance benefits without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), or (C) the Company is otherwise unable under applicable law to continue to 

cover Executive or Executive's dependents under its group health, dental, disability and/or life insurance plans without violating a prohibition on such coverage or incurring penalties and/or additional taxes as a result of such coverage, then, in any such case, an amount equal to each remaining premium payment shall thereafter be paid to the Executive as currently taxable compensation in substantially equal monthly installments over the 24-Month Period (or the remaining portion thereof). Additionally, (i) all equity and long term incentive awards granted to Executive prior to January 1, 2012 that have not vested will become 100% vested on the effective date of the Change in Control, and (ii) all equity and long term incentive awards granted to Executive on or after January 1, 2012 that have not vested will vest in accordance with the applicable provisions of the applicable incentive plan(s) and award agreement(s).  The payment of severance shall be conditioned upon Executive's signing (and not revoking within the revocation period, if any, provided pursuant to the applicable release agreement) of a general release in favor of the Company.  Nothing contained herein shall limit or impinge any other rights or remedies of the Company or Executive under any other agreement or plan to which Executive is a party or of which Executive is a beneficiary.”
 
		
	3.
	Incorporation into Amended and Restated Employment Agreement.  This Amendment shall be and is hereby incorporated in and forms a part of the Amended and Restated Employment Agreement.  

		
	4.
	Survival of Amended and Restated Employment Agreement.  Except as expressly provided herein, all terms and conditions of the Amended and Restated Employment Agreement shall remain in full force and effect.

 [Signature Page Follows]

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

	
		
	 
	

EXECUTIVE

/s/ Craig Monaghan ___________________________________
Craig Monaghan

ASBURY AUTOMOTIVE GROUP, INC.

/s/ Joe Parham
___________________________________
By:  Joe Parham
Its:  VP, Chief Human Resources Officer

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