Document:

ex10_1.htm

     

    
      EMPLOYMENT AGREEMENT dated June 23, 2010,
between Roadships Holdings, Inc., a Delaware Corporation, with a principal place
of business at City Center, 525 North Tryon Street, Suite 1600, Charlotte NC
28202  ( “Company”) and Voltaire Gomez, an individual residing at 141
Orange Ave. #203, Coronado, CA 92118 (“Executive”).

      

      R E C I T A L
S

      

      Whereas, Executive’s leadership and
services shall constitute a major factor in the successful growth and
development of the Company, its subsidiaries and affiliates; and

      

      Whereas, the Company desires to
employ and retain the unique experience, ability and services of Executive Vice
President and Director and desires to retain Executive’s services in an advisory
and consulting capacity and to prevent any other competitive business from
securing his services and utilizing his experience, background and
expertise.

      

      Whereas, the terms, conditions and
undertakings of this Agreement were submitted to, and duly approved and
authorized by the Company’s Board of Directors at a meeting held on May 20,
2010.

      

      NOW THEREFORE in consideration
of the mutual promises, terms, conditions and undertakings hereinafter set
forth, it is agreed between the parties as follows:

      

          1.   Employment

      

       (a)  Executive
Employment:  The Company employs Executive and Executive
accepts employment in a principal executive and managerial capacity until May
15, 2013.  After January 1, 2011, either Executive or the Company may,
at any time terminate Executive’s Executive Employment subject to the
restrictions and conditions hereinafter contained on four (4) months prior
written notice to the other party.

      

      (b) Automatic
Renewal:  This Agreement shall be renewed automatically for
succeeding terms of three (3) years each unless either party gives written
notice to the other at least ninety (90) days prior to the expiration of any
term of Executive’s or Company’s intention not to renew pursuant to Company’s
bylaws.

      

      (c)  “Executive Employment”
Defined:  “Executive Employment” as used herein refers to the
entire period of employment of Executive by Company, whether for the periods
provided above, or whether terminated earlier as hereinafter provided or
extended by mutual agreement between the Company and Executive.

      

      (d) Advisory
Period:  If Executive’s Executive Employment is terminated as
provided for in paragraph (a) above and such termination was not with cause,
then the Company shall have the option to retain him as an advisor and
consultant for a period of two years after termination (the “Advisory
Period”).

      

      2.           Duties and
obligations.

      

      (a)
Executive shall serve as Executive Vice President of the Company.  In
Executive’s capacity, Executive shall do and perform all services, acts, or
things necessary or advisable to manage and conduct the business of Company,
including business development, acquisition strategist, managerial finance, MNA
structure and execution, operations coordinator and day to day corporate
operations.

      

      (b)
During the period of Executive’s Executive Employment, Executive shall devote
full time to such employment.  If elected, he shall serve as a
director and/or officer of the Company and any of its subsidiaries and
affiliates (hereinafter collectively referred to as “Company Subsidiaries”) and
shall perform duties customarily incidental to such offices and all other duties
the Board of Directors of the Company and the Company Subsidiaries or
affiliates, may, from time to time, assign to Executive.  If Executive
is presently a member of the Board and/or an officer of the Company and a member
of the Board and/or an officer of the Company Subsidiaries and affiliates, then
Executive shall perform duties customarily incidental to such offices and all
other duties the Board of Directors may, from time to time assign, and have
assigned to him.

      

      (c)  During
the term of employment, Executive shall diligently and conscientiously devote
his entire time, attention and effort to the tasks which Company or its owners
shall assign to him.  The expenditure of time for educational,
charitable and professional activities shall not be deemed a breach of this
Agreement if those activities do not materially interfere with the services
required under this Agreement and shall not require the prior written consent of
the Board of Directors.  If the Executive is elected or appointed as a
director or committee member, Executive shall serve in such capacity or
capacities without further compensation unless agreed to in writing by the
parties hereto. Nothing herein shall be construed, however, to require the
Executive’s election or appointment as a director or an officer.

      

      (d) The
Executive shall exert his best efforts and devote substantially all of his time
and attention to the Company's affairs. The Executive shall be in charge of the
operation of the Company, and shall have full authority and responsibility,
subject to the general direction, approval, and control of the Company's Board
of Directors, for formulating policies and administering the Company.
Executive’s powers shall include the authority to hire and fire Company
personnel and to retain consultants when Executive deems necessary to implement
Company policies.  Executive shall at all times, discharge his duties
in consultation with, and under the supervision of, the Company’s Board of
Directors.  In the performance of Executive’s duties, Executive shall
make his principal office in such place as the Company’s Board of Directors and
Executive may, from time to time, agree.

       

      (e)  Competitive Activities and
Restrictions.

      

      (1)  During
the term of this contract Executive shall not, directly or indirectly, either as
an employee, company, consultant, agent, principal, partner, stockholder,
corporate officer, director, or in any other individual or representative
capacity, engage or participate in any business that is in competition in any
manner whatsoever with the business of Company without the prior written consent
of the Company.

      

      (2)
Executive agrees that during the term of this contract and for a period of three
(3) years after termination of this Agreement, Executive shall not directly or
indirectly solicit, hire, recruit, or encourage any other employee of Company to
leave Company.

      

      (3)  Restrictive
Covenant.  For a period of three (3) years after the termination or
expiration of this Agreement, the Executive shall not, directly or indirectly,
own, manage, operate, control, be employed by, participate in, or be connected
in any manner with the ownership, management, operation, or control of any
business similar to the type of business conducted by the Company at the time
this Agreement terminates.  Because of the global nature of the
shipping and logistics industry and since the parties intend to operate the
company internationally, the radius (the “Radius”) of this restrictive covenant
shall include but not by way of limitation all of North America, South America,
Australia and New Zealand, Asia, Europe, Antarctica, Greenland, Africa and any
area deemed to be international waters or transboundary waters as defined from
time to time. In the event of the Executive's actual or threatened breach of
this paragraph, the Company shall be entitled to a preliminary restraining order
and injunction restraining the Executive from violating its provisions. Nothing
in this Agreement shall be construed to prohibit the Company from pursuing any
other available remedies for such breach or threatened breach, including the
recovery of damages from the Executive.

      

      (4)  For
a period of thirty-six (36) months after this Agreement has been terminated for
any reason, regardless of whether the termination is initiated by Company or
Executive, or for a period of time equal to the length of Executive's employment
with Company if such tenure is less than thirty-six (36) months, Executive will
not, directly or indirectly, solicit any person, company, firm, or corporation
who is or was a customer of Company during a period of five (5) years prior to
the termination of Executive's employment. Executive agrees not to solicit such
customers on behalf of himself or any other person, firm, company, or
corporation.

      

      (5) The
Executive agrees that for a period of six (6) months after the termination of
his employment with Company, regardless of whether the termination was initiated
by Company or Executive, he will not accept employment with, or act as a
consultant, contractor, advisor, or in any other capacity for, a competitor of
the Company, or enter into competition with the Company, either by himself or
through any entity owned or managed in whole or in part by the Executive, within
the Radius. The term ''competitor,'' as used herein, means any entity primarily
engaged in the business of shipping, logistics, short sea
shipping, designing, building and operations, or primarily engaged in any
other business in which Company engages subsequent to the date of this
Agreement.

      

      (6) The
parties have attempted to limit Executive's right to compete only to the extent
necessary to protect Company from unfair competition. The parties recognize,
however, that reasonable people may differ in making such a determination.
Consequently, the parties hereby agree that, if the scope or enforceability of
the restrictive covenant or the Radius is in any way disputed at any time, a
court or other trier of fact may modify and enforce the covenant to the extent
that it believes the covenant is reasonable under the circumstances existing at
that time.

      (7)
Executive further acknowledges that (i) in the event Executive’s employment with
Company terminates for any reason, regardless of whether the termination is
initiated by Company or Executive, Executive will be able to earn a livelihood
without violating the foregoing restrictions; and (ii) Executive’s ability to
earn a livelihood without violating such restrictions is a material condition of
Executive’s employment with Company.

      

      (f)  Uniqueness of Executive’s
Services.  Executive represents and agrees that the services to
be performed under the terms of this contract are of a special, unique, unusual,
extraordinary, and intellectual character that gives them a peculiar value, the
loss of which cannot be reasonably or adequately compensated in damages in an
action at law. Executive therefore expressly agrees that Company, in addition to
any other rights or remedies that Company may possess, shall be entitled to
injunctive and other equitable relief to prevent or remedy a breach of this
contract by Executive.

      

      (g) Matters Requiring Consent of the
Board of Directors:  Executive shall not, without the specific
approval of Company’s Board of Directors, do or contract to do any of the
following:

      

      (1) Borrow, or otherwise assume
liability, on behalf of Company during any fiscal year an amount in excess of
Five Hundred ($500) Dollars;

      

      (2) Permit any customer or client of
Company to become indebted to Company in an amount in excess of Five Hundred
($500) Dollars;

      

      (3) Purchase capital equipment for
amounts in excess of the amounts budgeted and approved for expenditure by the
Board of Directors;

      

      (4) Sell any single capital asset of
Company having a market value in excess of Five Hundred ($500) Dollars or a
total of capital assets during a fiscal year having a market value in excess of
Five Hundred  ($500) Dollars; and

      

      (5) Commit the Company to an
expenditure of more than Five Hundred ($500) Dollars in the development and sale
of new products and services.

      

      3.           Vacations and Personal
days.  Executive shall be entitled to annual vacations, during
which time his Salary and compensation shall be paid, in a manner commensurate
with his status as a principal executive, which shall be two weeks per
year.  Executive shall be entitled to five (5) unauthorized absences
per year and five (5) personal days. The personal days must be scheduled in
advance and are subject to the requirements of the Company.  Any
unused Vacation and Personal days can be accrued from year to year.

      

      4.           Salary, Compensation,
Incentives and Benefits.

      

      (a)
Executive’s salary shall be set at the discretion of the Board of Directors from
time to time.

      

      (b) Bonus Incentive
Package.

       

                 (1) No incentive
compensation package has been contemplated.

      

         (2)  No Profit-Sharing Based on
Performance package has been contemplated.

      

         (3) No Stock Bonus package has been
contemplated.

       

                      (4)
Warrants.

      

      (i)  Company
hereby grants Executive Warrants for the purchase of Ten Million (10,000,000)
shares of Company's common stock as compensation for services rendered or to be
rendered (equates to $0.001 per share), for a period of three years from the
date of this Agreement. The warrants may be exercised in whole or in part, but
may only be exercised in lots of Twenty Five Thousand (25,000) shares. Executive
shall not have any of the rights of, nor be treated as, a shareholder with
respect to the shares subject to these warrants until Executive has exercised
the warrant and has become the shareholder of record of those
shares.

      

      (ii) The warrants are not
assignable.

      

      (iii) The warrants may only be
exercised by Executive for three years following the date of this Agreement.
However, in the event that the employment term is terminated by Company for any
reason, Executive shall NOT retain the right to exercise any unused portion of
the warrants.

      

      (c)  Deferred Compensation.
N/A.

      

      (d)  Salary Continuation During Permanent
Disability.  If Executive for any reason whatsoever becomes
permanently disabled so that Executive is unable to perform the duties
prescribed herein, this Agreement may be terminated at the option of the
Company.

      

      (e) Effect of Death.  If
Executive dies during the term of this Agreement, the Company shall have the
option to terminate.

      

      (f) This Agreement shall not be in lieu
of any rights, benefits and privileges to which Executive may be entitled to as
an Executive of the Company under any retirement, pension, profit-sharing,
insurance, hospital or other plans which may now be in effect or which may
hereafter be adopted.  Executive shall have the same rights and
privileges to participate in such plans and benefits as any other Executive
during Executive’s period of Executive Employment.

      

      (g)  Company agrees to
include Executive in the full coverage of medical, dental, and eye care
insurance if such coverage is acquired.

      

      (h) Executive is entitled to receive
from Company all fringe benefits in effect for Company’s principal executive
officers.

      

          5.   Advisory
Compensation.

      

      (a)  Payment and
services.  During the Advisory Period, the Company shall pay to
Executive an annual compensation equal to one-half of his Salary during the last
twelve month period of Executive’s employment (“Advisory Compensation”), to be
paid in equal monthly installments on the fifteenth (15th) day of each
month.  While receiving such Advisory Compensation, Executive shall,
at all reasonable times, to the extent his physical and mental condition
permits, be available to consult with and advise the Company’s officers,
directors and other representatives.  If Executive’s physical or
mental condition prevents him from fulfilling his consulting or advisory duties,
Executive shall still be entitled to the Advisory Compensation during the entire
Advisory Period.  The parties agree that this advice and counsel shall
not entail full time service and shall be consistent with Executive's retirement
status

      

      (b) Location:  Executive
shall not be required, without his prior written consent, to render advisory
services at any place other than the principal place of business of the Company,
if Executive moves more than twenty-five (25) miles away from the Company’s
principal place of business.

      

      (c) Restriction:  During
the Advisory Period Executive shall be deemed to be an independent contractor
and shall be permitted to engage in any business or perform services for his own
account, provided that such business and services shall not be in competition
with, or be for a company that is in competition with, the Company or its
subsidiaries or affiliates.

      

      6.           Expenses.

      

      (a) The
Company recognizes that Executive will have to incur certain out of pocket
expenses related to his services and the Company’s business and that it will be
extremely difficult to account for such expenses. It is understood that
Executive’s Salary and compensation is intended to cover all such out-of-pocket
expenses. The Company, however, shall reimburse Executive for any specific
preapproved expenditure incurred for travel, lodging, entertainment and similar
items upon the presentation to Company of an itemized account of such
expenditures.  Each such expenditure shall be reimbursable only if it
is of a nature qualifying it as a proper deduction on the federal and state
income tax return of Company.  Notwithstanding the foregoing, during
the Advisory Period the Company shall reimburse Executive for all preapproved
expenses incident to the rendering of advisory and consultant
services.

      

      7.           Insurance.
N/A.

      

      8.           Indemnification. The
Company shall indemnify the Executive and hold him harmless for all acts or
decisions made by him in good faith while performing services for the Company
and Company Subsidiaries and affiliates. The Company shall also use its best
efforts to obtain coverage for him under any insurance policy now in force or
hereinafter obtained during the term of this Agreement covering the other
officers and directors of the Company and Company Subsidiaries and affiliates
against lawsuits. The Company shall pay all expenses including attorney's fees,
actually and necessarily incurred by the Executive in connection with the
defense of such act, suit or proceeding, and in connection with any related
appeal, including the cost of court settlements.

      

      9.           Incapacity and
Termination.

      

      (a) "Cause" for termination shall mean
(i) Employee's final conviction of a felony involving a crime of moral turpitude
or (ii) acts of Employee which, in the unanimous judgment of the Board,
constitute willful fraud on the part of Employee in connection with his duties
under this Agreement, including misappropriation or embezzlement in the
performance of duties as an employee of the Company, or willfully engaging in
conduct materially injurious to the Company and in violation of the covenants
contained in this Agreement.

      

      (b) Termination.  This
Agreement may be terminated by the Company with the express approval of the
Board of Directors, without prior notice to Executive on account of Executive’s
gross misconduct, a violation of this Agreement, habitual neglect of the
Executive to perform his duties under this Agreement, Executive’s acts of
dishonesty or other conduct which damages the reputation or standing of the
Company, Executive’s unauthorized disclosure of confidential information or
trade secrets, dishonesty, fraud, misrepresentation or other acts of moral
turpitude as would prevent the effective performance of Executive’s duties and
Executive’s breach of Executive’s duty of loyalty to Company.

      

      (c) Termination upon sale of
Company:  Notwithstanding anything to the contrary, the Company
may terminate this Agreement by giving ten (10) days notice to the Executive if
any of the following events occur:

      

      (1) the Company sells substantially all
of its assets to a single purchaser or to a group of associated
purchasers;

      (2) at least two-thirds of the
outstanding corporate shares of the Company are sold, exchanged, or otherwise
disposed of, in one transaction;

      (3) the Company elects to terminate its
business or liquidate its assets; or

      (4) there is a merger or consolidation
of the Company in a transaction in which the Company’s s shareholders receive
less than fifty (50%) percent of the outstanding voting shares of the new or
continuing corporation.

      

      (d)  Effect of Merger, Consolidation,
transfer of assets, or Dissolution.

      

      (1)  This agreement shall not
be terminated by any voluntary or involuntary dissolution of Company resulting
from either a merger or consolidation in which Company is not the consolidated
or surviving corporation, or a transfer of all or substantially all of the
assets of Company.

      

      (2)  In the event of any such
merger or consolidation or transfer of assets, Company's rights, benefits, and
obligations hereunder shall be assigned to the surviving or resulting
corporation or the transferee of Company's assets.

      

      10.  Executive’s Stock Holdings
in Company

      

      (a)  Disposition of Stock during
Lifetime.  Except to the extent as provided for by Rule 144 of
the Securities and Exchange Act, Executive shall not dispose of any of the
shares of stock of the Company now or hereafter owned by him except pursuant to
the terms of this agreement or with the written consent of Michael Nugent, CEO
or Robert Smith, Corporate Secretary, so long as at the applicable time these
individuals are still shareholders (hereinafter “the other
Stockholders”).  The word "dispose" as herein used shall mean to sell,
assign or transfer, with or without consideration, encumber, pledge,
hypothecate, or otherwise dispose of shares of stock in the
Company.

      

      (1) If
wishing to dispose of his shares, Executive shall first give written notice to
the Company pursuant to the terms of paragraph 20.  Within thirty (30)
days after the receipt of such notice, the Company, out of its surplus, shall
have the option, but not the obligation, to purchase all of the Executive’s
shares of stock at a mutually agreed upon price per share.  If such
option is not exercised by the Company, the Stockholders to purchase all of the
Executive’s shares.   The exercise of this option shall be in
writing and mailed pursuant to the terms of paragraph 20 to the Executive and
the Company.  In either event, whether the Company or the other
Stockholders elect to purchase, the notice accepting the offer shall specify the
date for the closing of the purchase which shall be not more than thirty (30)
days after the receipt by the Executive of such acceptance notice given by the
Company or Stockholder(s), as the case may be.

      

      (2) The
purchase price shall be the per share published market price;

      

      (3) If
the offer to sell is neither accepted by the Company nor by the other
Stockholders, the Executive may, thereafter, make a bona fide transfer or
dispose of their shares of stock to a prospective outside purchaser, in which
event said third party shall hold such shares subject to the terms, conditions,
and restrictions of the shares or this agreement and shall become a signatory
thereto.

      

      (i)           The
Executive, in such case, shall give written notice to the Company and, as
applicable, Stockholder(s) specifying the name and address of the prospective
outside purchaser and the terms of the proposed transaction with said
outsider.  There shall be annexed to the said notice a copy of the
contract, if any, between the Executive and the outsider.  The Company
shall thereupon, in the first instance, have a further option to consummate the
transaction with the Executive at the same price and at the same terms as
specified in said notice, or, alternatively, if the Company shall be unable or
shall refuse to exercise said further option, then the Stockholders may do so as
provided herein.

      

      (ii)  If
such further option be exercised by the Company or other Stockholders, notice
shall be given to the Executive of the willingness of the Company, in the first
instance, or, as applicable, Stockholder(s), in the second instance, to close
the transaction on the basis offered by an outsider.  In either event,
whether the Company or the other Stockholders elect to meet the outsider's
terms, the acceptance notice shall specify the date for the closing of the
transaction which shall not be later than that of the proposed transaction with
said outsider.

      

      (iii)           If
the Company or, as applicable, the Stockholder(s), for any reason whatsoever,
fail to exercise either the first option provided for under this agreement or
the further option, in either of such cases the Executive’s shares of stock
shall be freed from the restrictions of this agreement and the said shares of
stock may be sold to any outsider upon such terms as the Executive may see fit
to offer and an outsider may see fit to accept.  If the Executive
consummates a sale with an outsider under the provisions of this paragraph of
the agreement, in such case, the Executive shall furnish copies of all documents
executed with the outsider within five (5) days after their execution and
delivery

      

      (b)  Purchase of Stock Upon
Death

      

      (1)  Obligatory Purchase and
Sale. Upon the death of the Executive, the Company shall be given first
right of refusal to purchase all or a portion of his shares of stock, or the
shares of stock to which he or his personal representative shall be entitled, at
a price equal market or an otherwise mutually agreed upon price.

      

      (2) Terms of
Payment.                                                      The
Company shall pay to the personal representative of the Executive the purchase
price, as hereinabove determined, as a onetime cash settlement or as otherwise
agreed to in writing and attached to this agreement.

      

      (3)  Failure of Corporation to
Purchase.                                                                                     If
the Company, for any reason whatsoever, shall fail or refuse to purchase all of
the shares of the Executive, then, the stock shall be sold at market price and
demand.

      

      (c)  Purchase Price

      

      (1)  The
purchase price of any stock of the Company sold, purchased or retired pursuant
to any provision of this Agreement shall be determined based on the published
market price of the Company’s stock.

      

      (3)  No
allowance of any kind shall be made for good will, trade name or similar
intangible asset(s), beyond that assigned by market price.

      

      (d)  Involuntary
Assignments

      

      (1)  In
the event that the Executive shall be divested of title to his shares of capital
stock by involuntary sale, assignment or transfer, (as, for example, but without
limiting the generality thereof, by sale under levy of attachment or execution,
or sale in connection with bankruptcy or other court process) or transfer to a
spouse in satisfaction of marital rights in connection with a separation or
divorce, the person, firm or corporation acquiring such stock (hereinafter
called the “Judicial Assignee"), shall take and hold such shares of capital
stock subject to all the restrictions and obligations as was the
Executive.

      

      (2)  Within
thirty (30) days after such stock is transferred to the Judicial Assignee on the
books of the Company, if such transfer be deemed proper by the Company, the
Company may (but shall not be obligated to), by written notice given to the
Judicial Assignee, elect to purchase from the Judicial Assignee the subject
stock for the same amount as the Judicial Assignee paid for the stock, or an
otherwise mutually agreed upon price.

      11.           Ownership in
Company.  All ideas, inventions, trademarks, and other
developments or improvement conceived by Executive, alone or with others, during
the term of employment, whether or not during working hours, that are within the
scope of Company's business operations, or that relate to any Company or Company
Subsidiaries work or projects, are the exclusive property of the Company.
Executive agrees to assist the Company and Company Subsidiaries, at its expense,
to obtain patents on any patentable ideas, inventions, trademarks, and other
developments, and agrees to execute all documents necessary to obtain the
patents in the name of the Company or Company Subsidiaries.

      

      12.           Nondisclosure.  Executive
shall be dealing with Company's confidential information, inventions, trade
secrets, and processes which are Company's sole and exclusive
property.  Executive agrees that Executive shall neither disclose to
anyone, directly or indirectly, without the prior written consent of the
Company, Company's confidential information, nor will Executive use said
confidential information outside the scope of Executive’s employment. All
documents that Executive prepares and all confidential information provided to
Executive as a result of or related to Executive’s employment shall, at all
times, remain the exclusive property of the Company, and will remain in
Company's possession on its premises. Under no circumstances, may Executive
remove any confidential information or documents from Company's
premises.

      

      13.           Client
Information.  The Executive acknowledges that the list of the
Company's Clients and Brokers, as the Company may determine from time to time,
is a valuable, special, and unique asset of the Company's business. The
Executive shall not, during and after the term of his employment, disclose all
or any part of the Executive's customer list to any person, firm, corporation,
association, or other entity for any reason or purpose. In the event of the
Executive's breach or threatened breach of this paragraph, the Company shall be
entitled to a preliminary restraining order and an injunction restraining and
enjoining the Executive from disclosing all or any part of the Company's Client
list and from rendering any services to any person, firm, corporation,
association, or other entity to whom all or any part of such list has been, or
is threatened to be, disclosed. In addition to or in lieu of the above, the
Company may pursue all other remedies available to the Company for such breach
or threatened breach, including the recovery of damages from the
Executive.

      

      14.           Trade
Secrets.

      

      (a)  The parties acknowledge
and agree that during the term of this agreement and in the course of the
discharge of Executive’s duties hereunder, Executive shall have access to and
become acquainted with financial, personnel, sales, scientific, technical and
other information regarding formulas, patterns, compilations, programs, devices,
methods, techniques, operations, plans and processes that are owned by Company,
actually or potentially used in the operation of Company's business, or obtained
from third parties under an agreement of confidentiality, and that such
information constitutes Company's ''trade secrets.''

      

      (b)  Executive specifically
agrees that Executive shall not misuse, misappropriate, or disclose in writing,
orally or by electronic means, any trade secrets, directly or indirectly, to any
other person or use them in any way, either during the term of this agreement or
at any other time thereafter, except as is required in the course of Executive’s
employment.

      

      (c)  Executive acknowledges
and agrees that the sale or unauthorized use or disclosure in writing, orally or
by electronic means, of any of Company's trade secrets obtained by Executive
during the course of Executive’s employment under this agreement, including
information concerning Company's actual or potential work, services, or
products, the facts that any such work, services, or products are planned, under
consideration, or in production, as well as any descriptions thereof, constitute
unfair competition. Executive promises and agrees not to engage in any unfair
competition with Company, either during the term of this Agreement or at any
other time thereafter

      

      (d)  Executive further agrees
that all files, records, documents, drawings, specifications, equipment,
software, and similar items whether maintained in hard copy or on-line relating
to Company's or Company Subsidiaries’ business, whether prepared by Executive or
others, are and shall remain exclusively the property of Company and that they
shall be removed from the premises or, if kept on-line, from the computer
systems of Company only with the express prior written consent of the
Company.

      

      15.           Use of Executive’s
Name.

      

      (a) Company shall have the right to use
the name of Executive as part of the trade name or trademark of Company if it
should be deemed advisable to do so. Any trade name or trademark, of which the
name of Executive is a part, that is adopted by Company during the employment of
Executive may be used thereafter by Company for as long as Company deems
advisable.

      (b) Executive shall not, either during
the term of this Agreement or at any time thereafter, use or permit the use of
Executive’s name in the trade name or trademark of any other enterprise if that
other enterprise is engaged in a business similar in any respect to that
conducted by Company, unless that trade name or trademark clearly indicates that
the other enterprise is a separate entity entirely distinct from and not to be
confused with Company and unless that trade name or trademark excludes any words
or symbols stating or suggesting prior or current affiliation or connection by
that other enterprise or its employees with Company.

      

      16.           Nontransferability.  Neither
Executive, Executive’s spouse, nor their estates shall have any right to
commute, anticipate, encumber or dispose of any payment under this
Agreement.  Such payments and accompanying rights are nonassignable
and nontransferable, expect as otherwise specifically provided for in this
Agreement.

      

      17.           Breach of the
Agreement.  In the event of any claimed breach of this
Agreement, the party claimed to have committed the breach will be entitled to
written notice of the alleged breach and a period of ten (10) days in which to
remedy such breach. Executive acknowledges and agrees
that a breach of any of the covenants contained in this Agreement will result in
irreparable and continuing harm to the Company for which there will be no
adequate remedy at law. The Company will be entitled to preliminary and
permanent injunctive relief to restrain Executive from violating the terms and
conditions of this Agreement in addition to other available remedies, at law and
in equity.

      (1)
Executive acknowledges that: (i) compliance with Paragraphs 2(e), (f), and (g)
is necessary to protect the Company's business and good will; (ii) a breach of
those Paragraphs will irreparably and continually damage Company; and (iii) an
award of money damages will not be adequate to remedy such harm.

      (2)
Consequently, Executive agrees that, in the event he breaches or threatens to
breach any of these covenants, Company shall be entitled to both: (i) a
preliminary or permanent injunction in order to prevent the continuation of such
harm; and (ii) money damages, insofar as they can be determined, including,
without limitation, all reasonable costs and attorneys' fees incurred by the
Company in enforcing the provisions of this Agreement. Nothing in this
Agreement, however, shall prohibit Company from also pursuing any other
remedy.

      (3) If,
after the expiration of the three (3) year period referred to in Paragraph 2(e)
hereof, Executive becomes affiliated with any business that competes with
Company, either as a shareholder, manager, partner, creditor, employee,
consultant, agent or independent contractor, or a customer or account of Company
becomes a customer or account of the competing business with which Executive is
affiliated, this fact shall be presumptive evidence that Executive has breached
the terms of this Agreement, and the burden of proving otherwise shall rest upon
Executive.

      (4) As
money damages for the period of time during which Executive violates these
covenants, Company shall be entitled to recover the full amount of any fees,
compensation, or other remuneration earned by Executive as a result of any such
breach.

      

      18.           Binding
Effect.  This Agreement shall inure to the benefit of, and be
binding upon, the Company, its successors and assigns, including without
limitation, any person, partnership, company or corporation which may acquire
substantially all of the Company’s assets or business or with or into which the
Company may be liquidated, consolidated or otherwise combined.  In
addition, this Agreement shall inure to the benefit of, and be binding upon,
Executive, Executive’s heirs, distributes, assigns, and personal
representatives.

      

      19.           Waiver.  The
failure of either party to insist in any one or more instances upon performance
of any term or condition of this Agreement shall not be construed as a waiver of
future performance.  The obligations of either party with respect to
such term, covenant or condition shall continue in full force and
effect.

      

      20.           Notice.  Any
notice given hereunder shall be in writing and delivered or mailed by first
class mail and either reputable overnight delivery service or registered
certified mail return receipt requested to the parties at the following
addresses:

      

      Company:            Roadships
Holdings, Inc.

      525 North
Tryon Street

      Suite
1600 City Center

      Charlotte
NC 28202

      704-237-3194

      

      Executive:            Voltaire
Gomez

      141
Orange Ave.

      #203

      Coronado,
CA 92118

      

      21.           Entire
Agreement.  This Agreement supersedes all previous agreements
between Executive and Company and contains the entire understanding and
agreement between the parties with respect to its subject
matter.  This Agreement cannot be amended, modified or supplemented in
any respect except by a subsequent written agreement entered into by both
Executive and Company.

      

      22.           Headings.  Headings
in this Agreement are for convenience purposes only and shall not be used to
interpret or construe its provisions.

      

      23.           Governing
Law.  This Agreement shall be construed in accordance with and
be governed by the laws of the State of Delaware.

      

      24.           Arbitration.  Any
dispute or claim arising from or in any way related to this agreement shall be
settled by arbitration in North Carolina at the option of Company. All
arbitration shall be conducted in accordance with the rules and regulations of
the American Arbitration Association ("AAA"). AAA shall designate a panel of
three arbitrators from an approved list of arbitrators following both parties'
review and deletion of those arbitrators on the approved list having a conflict
of interest with either party. Each party shall pay its own expenses associated
with such arbitration.  A demand for arbitration shall be made within
a reasonable time after the claim, dispute or other matter has arisen and in no
event shall such demand be made after the date when institution of legal or
equitable proceedings based on such claim, dispute or other matter in question
would be barred by the applicable statutes of limitations.  The
decision of the arbitrators shall be rendered within sixty (60) days of
submission of any claim or dispute, shall be in writing and mailed to all the
parties included in the arbitration.  The decision of the arbitrator
shall be binding upon the parties and judgment in accordance with that decision
may be entered in any court having jurisdiction thereof.

      

      24.           Severability.  If
any provision of this Agreement is held to be illegal or invalid by a court of
competent jurisdiction, such provision shall be deemed to be severed and deleted
and neither such provision, nor its severance and deletion, shall affect the
validity of the remaining provisions.

      

      IN WITNESS HEREOF, the parties
have executed this Agreement the day and year above written.

      

      Executive                                                                       
Company

      

      

      

      /s/ Voltaire
Gomez                                                          /s/Michael
Nugent

      Voltaire
Gomez                                                               Roadships
Holdings, Inc.

      By: Micheal Nugent, CEO

      

      

      

      Corporate
Seal

      Attest:

      

      

      /s/ Robert
Smith

       

      Robert
Smith

      Corporate
SecretaryEX-10.1

ASSET PURCHASE AGREEMENT

This Asset Purchase Agreement (the “Agreement”) is made and entered into this 16 day of
July, 2010, by and among Golden Productions JGC Fort Worth, LLC, a Texas limited liability company
(the “Company”),VCG Holding Corp., a Colorado corporation (“VCGH”) and RCI Entertainment (Fort
Worth), Inc., a Texas corporation (the “Purchaser”).

WHEREAS, the Company owns and operates an adult entertainment cabaret known as Jaguar’s Gold
Club Fort Worth (“Jaguar’s Gold Club”) located at 12325 Calloway Cemetery Road, Fort Worth, Texas,
76040 (the “Premises”); and

WHEREAS, VCGH owns all of the membership interests of the Company, which represents 100% of
all of the membership interests of the Company presently issued and outstanding (the “Membership
Interests”); and

WHEREAS, Bryan S. Foster, an individual (“Foster”), owns an interest in the real property
commonly known as 12325 Calloway Cemetery Road, Fort Worth, Texas, 76040, which interest includes
all ownership rights to such real property except for the improvements thereof (the “Land”) as is
more fully described on Exhibit “A” attached hereto, which Land is currently leased to VCGH and
subleased to the Company; the improvements on the Land (“Building and Fixtures”) are owned by VCGH
and leased to the Company, subject to the reversionary rights of Foster, as contained in the Deed
of Ground Lease executed on September 17, 2007 by the parties (the “Old Lease Agreement”); and

WHEREAS, the Company and VCGH desire to sell, transfer and convey all of the assets owned by
them which are associated or used in connection with the operation of Jaguar’s Gold Club (including
the Building and Fixtures located on the Land) to the Purchaser, on the terms and conditions set
forth herein; and

WHEREAS, the Purchaser desires to purchase the assets owned by the Company and VCGH, on the
terms and conditions set forth herein; and

WHEREAS, in connection with this transaction, Foster desires to (1) terminate the Old Lease
Agreement and (2) enter into a new ground lease agreement and an option to buy with Purchaser
whereby Foster will lease the Land to Purchaser and grant the Purchaser or its assign an option to
buy the Land, on the terms and conditions set forth therein; and

WHEREAS, the Purchaser desires to enter into a ground lease agreement and an option to buy
with Foster for the Land, all on the terms and conditions set forth in the ground lease agreement
entered into contemporaneously with this Agreement, a form of which is attached hereto as Exhibit
4.3(i); and

NOW, THEREFORE, in consideration of the premises, the mutual covenants and agreements and the
respective representations and warranties herein contained, and on the terms and subject to the
conditions herein set forth, the parties hereto, intending to be legally bound, hereby agree as
follows:

ARTICLE I

PURCHASE AND SALE OF THE ASSETS

Section 1.1 Assets of the Company to be Transferred to Purchaser. On the Closing Date
(as defined in Section 4.1 hereof), and subject to the terms and conditions set forth in this
Agreement, the Company shall sell, convey, transfer and assign, or cause to be sold, conveyed,
transferred and assigned to Purchaser free and clear of all liens and encumbrances, and Purchaser
shall acquire all of the tangible and intangible assets and personal property of every kind and
description and wherever situated of the business of Jaguar’s Gold Club from the Company, including
but not limited to, the following personal property of the Company:

	 	(i)	 	all of the tangible and intangible assets and personal properties of every kind
and description and wherever situated of the business of Jaguar’s Gold Club, including,
without limitation, inventories, furniture, fixtures, equipment (including office and
kitchen equipment), computers and software, appliances, sign inserts, sound and
lighting and telephone systems, telephone numbers, and other personal property of
whatever kind and nature owned or leased by the Company, installed, located, situated
or used in, on, or about, or in connection with the operation, use and enjoyment of the
Premises and all other items on the subject Premises and used in connection with the
operation of Jaguar’s Gold Club;

	 	(ii)	 	all of the Company’s inventory of supplies, accessories and any and all other
items of personal property of whatever nature utilized or relating to the operation of
Jaguar’s Gold Club (the “Inventory”);

	 	(iii)	 	all supplies (other than Inventory) and other “consumable supplies” used in
connection with the operation of Jaguar’s Gold Club (the “Supplies”);

	 	(iv)	 	all of the Company’s right, title, and interest, as lessee, of any and all
equipment leased by the Company and located at Jaguar’s Gold Club (the “Leased
Equipment”); for which Purchaser agrees to assume payment if disclosed by Company.
Company shall cancel and pay for any undisclosed equipment lease that Purchaser does
not continue to use.

	 	(v)	 	all right, title, and interest of the Company to the use of the telephone
numbers presently being used by Jaguar’s Gold Club, including all rotary extensions
thereto, and all advertisements in the “Yellow Pages”, “City Directory” and other
similar publications (the “Telephone Numbers”) and after the Closing, Purchaser shall
assume all expenses for the Telephone Numbers and advertising;

	 	(vi)	 	copies of the Company’s lists of suppliers, and any and all of books, records,
papers, files, memoranda and other documents relating to or compiled in connection with
the operation of Jaguar’s Gold Club which are requested by Purchaser (the “Records”);

	 	(vii)	 	all intellectual property of every kind of the Company, including but not
limited to all trade marks, trade names, service marks, patents, copyrights, and trade
secrets;

	 	(viii)	 	all universal resource locators (“URL’s”) and internet domain names, and all goodwill
associated with or used in connection with the operation or business of the URL’s and
internet domain names;

	 	(ix)	 	to the extent transferable, any and all necessary permits and authorizations
which are needed to conduct an adult entertainment business at Jaguar’s Gold Club which
the Company has the right to transfer and convey, including its sexually oriented
business permit and license and all other licenses, consents, authorizations,
accreditations, waivers and approvals (together with all government filings pertaining
thereto), however designated, established, maintained or renewed and issued evidencing
or authorizing the Company, the Company’s agent(s) or nominee(s) for the purpose of
engaging in the business and/or operation of an adult cabaret nightclub business,
gaming facility, restaurant, bar, lounge, or any other business currently operating or
capable of being operated on the Premises however characterized.

Section 1.2 Assets of VCGH to be Transferred to Purchaser. On the Closing Date (as
defined in Section 4.1 hereof), and subject to the terms and conditions set forth in this
Agreement, VCGH shall sell, convey, transfer and assign, or cause to be sold, conveyed, transferred
and assigned to Purchaser free and clear of all liens and encumbrances, and Purchaser shall acquire
all improvements located on the real property located at 12325 Calloway Cemetery Road, Fort Worth,
Texas, 76040, including without limitation the building and fixtures in which the Jaguar’s Gold
Club is operated (collectively, the “Building and Fixtures”);

Section 1.3 All of the items set forth in Section 1.1 and Section 1.2 are collectively
referred to as the “Purchased Assets”. Exhibit 1.3 shall be a list of all improvements, furniture,
fixtures and equipment included within the Purchased Assets.

Section 1.4 Excluded Assets. Specifically excluded from the Purchased Assets are (i)
the corporate seals, books, accounting records and records related to corporate governance of the
Company (ii) all Company bank accounts and all Company monies (including cash) on hand as of the
Closing Date, (iii) all credit card receipts and ATM purchases as of the Closing Date, (iv) amount
receivable under the Texas Patron Tax as of the Closing Date, and (v) all other assets listed on
Exhibit 1.4 (hereinafter collectively referred to as the “Excluded Assets”).

Section 1.5 Intent of the Parties. Although the description of the Purchased Assets
in Section 1.1 and Section 1.2 is intended to be complete, in the event Section 1.1 and Section 1.2
fail to contain the description of any assets belonging to the Company and VCGH which are used for
the business of Jaguar’s Gold Club, such assets shall nonetheless be deemed transferred to
Purchaser at the Closing.

ARTICLE II

NO ASSUMPTION OF LIABILITIES

Section 2.1 Excluded Liabilities. Notwithstanding anything contained in this
Agreement to the contrary, Purchaser shall have no obligation and is not assuming, and the Company
and/or VCGH shall retain, pay, perform, defend and discharge, all of the liabilities and
obligations of every kind whatsoever related or connected to the Purchased Assets or the business
of Jaguar’s Gold Club arising or accruing prior to the Closing Date, whether disclosed or
undisclosed, known or unknown on the Closing Date, direct or indirect, absolute or contingent,
secured or unsecured, liquidated or unliquidated, accrued or otherwise, whether liabilities for
taxes, liabilities of creditors, liabilities arising under any profit sharing, pension or other
benefit under any plan of the Company, liabilities to any Governmental Agency (as hereinafter
defined) or third parties, liabilities assumed or incurred by the Company by operation of law or
otherwise (collectively, the “Excluded Liabilities”), including, but not limited to, (i)
contractual liabilities arising from Jaguar’s Gold Club’s business or ownership of the Purchased
Assets prior to the Closing Date, and (ii) any taxes owing by the Company and/or VCGH, including
but not limited to (x) any ad valorem taxes, including real estate and personal property taxes,
waste disposal assessments or other assessments for public or municipal improvements that are
assessed or imposed pursuant to the Old Lease Agreement and (y) amounts accessed under the Texas
Patron Tax, occurring before Closing, or whether related to the business of Jaguar’s Gold Club, the
Purchased Assets or otherwise and any liens on the Purchased Assets relating to any such taxes.

Section 2.2 Taxes. The Company and/or VCGH shall pay when due any sales, transfer,
excise, or other taxes which may be imposed in any jurisdiction in connection with or arising from
the sale and transfer of any of the Purchased Assets to Purchaser.

Section 2.3 Bulk Sales Laws. The Company and VCGH acknowledge that any applicable
provisions of any tax clearance or bulk sales laws pertaining to the transactions contemplated by
this Agreement are being complied with and that the Company and VCGH agree to indemnify and hold
harmless Purchaser from and against any and all liabilities arising out of or relating to any such
tax clearance or bulk sales law. Any such liability shall be an Excluded Liability.

ARTICLE III

PURCHASE PRICE FOR

THE PURCHASED ASSETS

Purchase Price. As consideration for the purchase of the Purchased Assets, Purchaser
shall pay to the Company and/or VCGH at Closing aggregate consideration as follows:

	 	(i)	 	$1,000,000 payable by cashier’s check, certified funds or wire transfer; and

	 	(ii)	 	467,497 shares of common stock, par value $0.0001, of VCGH (the “VCGH Shares”)
transferred to the Company.

The (i) $1,000,000 cash payment and (ii) the VCGH Shares are collectively referred to as the
“Purchase Price”.

ARTICLE IV

CLOSING

Section 4.1 The Closing. The closing of the transactions contemplated by this
Agreement will take place on or before July 15, 2010 (the “Closing Date”), at the law office of
Axelrod, Smith & Kirshbaum, 5300 Memorial Drive, Suite 700, Houston, Texas, 77007, or at such other
time and place as agreed upon among the parties hereto (the “Closing”).

Section 4.2 Delivery of Documents at Closing. At the Closing: (a) the Company and
VCGH shall deliver to Purchaser all instruments of assignment and bills of sale necessary to
transfer to Purchaser good and marketable title to the Purchased Assets free and clear of all
liens, charges or encumbrances, including without limitation delivery of proper documents for
recordation of conveyance of good and marketable title to the Building and Fixtures free and clear
of all encumbrances, against delivery by Purchaser to the Company and/or VCGH of payment in an
amount equal to the Purchase Price of the Purchased Assets being purchased by Purchaser, in the
manner set forth herein, including without limitation delivery of certificates evidencing the VCGH
Shares, free and clear of any liens, claims, equities, charges, options, rights of first refusal or
encumbrances, duly endorsed to the Company and/or VCGH or accompanied by duly executed stock powers
or written instruction to DTC to transfer the VCGH Shares in accordance with instructions by the
Company and/or VCGH; (b) the Company and VCGH and Purchaser shall deliver the various certificates,
instruments and documents (and shall take the required actions) referred to in Articles VII and
VIII below; and (c) the Related Transactions (as defined below) shall be consummated concurrently
with the Closing.

Section 4.3 Related Transactions. In addition to the purchase and sale of the
Purchased Assets, the following actions shall take place contemporaneously at the Closing
(collectively, the “Related Transactions”):

(i) Ground Lease Agreement for Land with Option to Purchase. The Purchaser and Foster will
enter into a ground lease agreement for the Land (the “Lease Agreement”). The Lease Agreement will
have a term of five (5) years with four (4) five (5) year options to extend at the discretion of
the Purchaser. The initial monthly rental rate during its term is $20,000 per month. The Lease
Agreement will also grant the Purchaser or its assigns an option to purchase the Land from Foster
(the “Land Option”). The Purchaser or its assigns may exercise the Land Option any time after the
twelfth (12th) year anniversary date of the Lease Agreement and before the expiration of
the Lease Agreement (including its option term) at a purchase price of fair market value, but in no
event less than $3,000,000.

(ii) Covenant Not to Compete for Foster. As partial consideration for the Purchaser entering
into the Lease Agreement, Foster will enter into a Non-Competition Agreement pursuant to the terms
of which Foster will agree not to compete, either directly or indirectly, with the Purchaser,
Jaguar’s Gold Club or any of their affiliates, by owning, participating or operating an
establishment featuring live female nude or semi-nude (topless) adult entertainment in a radius of
fifty (50) miles of Fort Worth, Texas, excluding Jaguars Gold Club Fort Worth #2 and the club
operated in Dallas, Texas, by Manana Entertainment, Inc. d/b/a Jaguars Gold Club.

(iii) Termination of Old Lease Agreement. Foster and VCGH will enter into a Termination
Agreement pursuant to the terms of which the Old Lease Agreement will be terminated. A copy of the
Termination Agreement is attached hereto as Exhibit 4.3(iii).

ARTICLE V

REPRESENTATIONS AND WARRANTIES

OF VCGH AND THE COMPANY

VCGH and the Company, jointly and severally, hereby represent and warrant to Purchaser as
follows:

Section 5.1. Organization, Good Standing and Qualification of VCGH and the Company.

(i) VCGH (i) is a Colorado corporation duly organized, validly existing and in good standing
under the laws of the state of Colorado, (ii) has all requisite power and authority to carry on its
business, and (iii) is duly qualified to transact business and is in good standing in all
jurisdictions where its ownership, lease or operation of property or the conduct of its business
requires such qualification, except where the failure to do so would not have a material adverse
effect to VCGH or the Company.

(ii) The Company (i) is a Texas limited liability company duly organized, validly existing and
in good standing under the laws of the state of Texas, (ii) has all requisite power and authority
to carry on its business, and (iii) is duly qualified to transact business and is in good standing
in all jurisdictions where its ownership, lease or operation of property or the conduct of its
business requires such qualification, except where the failure to do so would not have a material
adverse effect to VCGH or the Company.

(iii) The authorized capital of the Company consists of one hundred percent (100%) of the
Membership Interest which is validly issued and outstanding. There is no other class of equity
interest authorized or issued by the Company. All of the issued and outstanding Membership
Interests of the Company are owned by VCGH and are fully paid and non-assessable. None of the
Membership Interests issued are in violation of any preemptive rights. The Company has no
obligation to repurchase, reacquire, or redeem any of its outstanding Membership Interests. There
are no outstanding securities convertible into or evidencing the right to purchase or subscribe for
any Membership Interests of the Company. There are no outstanding or authorized options, warrants,
calls, subscriptions, rights, commitments or any other agreements of any character obligating the
Company to issue any Membership Interest or any securities convertible into or evidencing the right
to purchase or subscribe for any Membership Interest, and there are no agreements or understandings
with respect to the voting, sale, transfer or registration of any Membership Interests of the
Company.

Section 5.2 Subsidiaries. The Company does not have any subsidiaries.

Section 5.3 Ownership of the Purchased Assets. The Company owns all of the Purchased
Assets set forth in Section 1.1 herein free and clear of any liens, claims, equities, charges,
options, rights of first refusal, or encumbrances. VCGH owns all of the Purchased Assets set forth
in Section 1.2 herein free and clear of any liens, claims, equities, charges, options, rights of
first refusal, or encumbrances. The Company and VCGH have the unrestricted right and power to
transfer, convey and deliver full ownership of the Purchased Assets without the consent or
agreement of any other entity or person and without any designation, declaration or filing with any
governmental authority. Upon the transfer of the Purchased Assets to Purchaser as contemplated
herein, Purchaser will receive good and valid title thereto, free and clear of any liens, claims,
equities, charges, options, rights of first refusal, encumbrances or other restrictions.

Section 5.4 Ownership of the Membership Interests. VCGH owns, beneficially and of
record, all of the Membership Interests of the Company free and clear of any liens, claims,
equities, charges, options, rights of first refusal, or encumbrances.

Section 5.5 Authorization. All action on the part of the Company and VCGH necessary
for the authorization, execution, delivery and performance of this Agreement and all documents
related to consummate the transactions contemplated herein have been taken by the Company and VCGH.
The Company and VCGH have the requisite power and authority to execute and deliver this Agreement
and to perform their obligations hereunder and to consummate the transactions contemplated hereby.
This Agreement, when duly executed and delivered in accordance with its terms, will constitute a
valid and binding obligation of the Company and VCGH, enforceable against the Company and VCGH in
accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, and
other similar laws of general application relating to or affecting creditors’ rights and to general
equitable principles, except those items that would be required of the Purchaser with the consent
of the Company and VCGH (“Purchaser and Company Joint Consents”).

Section 5.6 No Breaches or Defaults. The execution, delivery, and performance of this
Agreement by VCGH and the Company does not: (i) conflict with, violate, or constitute a breach of
or a default under any other outstanding agreements or the charter or bylaws of the Company or
VCGH, (ii) result in the creation or imposition of any lien, claim, or encumbrance of any kind upon
the Purchased Assets or the Land or (iii) require any authorization, consent, approval, exemption,
or other action by or filing with any third party (except for consents required under the Old Lease
Agreement and Purchaser and Company Joint Consents), or Governmental Authority (as defined below)
under any provision of: (a) any applicable Legal Requirement (as defined below), or (b) any credit
or loan agreement, promissory note, or any other agreement or instrument to which VCGH or the
Company is a party or by which the Purchased Assets or the Land may be bound or affected. For
purposes of this Agreement, “Governmental Authority” means any foreign governmental authority, the
United States of America, any state of the United States, and any political subdivision of any of
the foregoing, and any agency, department, commission, board, bureau, court, or similar entity,
having jurisdiction over the parties hereto or their respective assets or properties. For purposes
of this Agreement, “Legal Requirement” means any law, statute, injunction, decree, order or
judgment (or interpretation of any of the foregoing) of, and the terms of any license or permit
issued by, any Governmental Authority.

Section 5.7 Consents. No permit, consent, approval or authorization of, or
designation, declaration or filing with, any Governmental Authority or any other person or entity
is required on the part of VCGH or the Company in connection with the execution and delivery by
VCGH or the Company of this Agreement or the consummation and performance of the transactions
contemplated hereby, except for consents required under the Old Lease Agreement and Purchaser and
Company Joint Consents.

Section 5.8 Pending Claims. There is no claim, suit, arbitration, investigation,
action, litigation or other proceeding, whether judicial, administrative or otherwise, now pending
or to VCGH’s or the Company’s knowledge, contemplated or threatened against VCGH or the Company
before any court, arbitration, administrative or regulatory body or any governmental agency which
may result in any judgment, order, award, decree, liability or other determination which will or
could reasonably be expected to have any material effect upon the Company or the business of
Jaguar’s Gold Club or the transfer by the Company to Purchaser of the Purchased Assets under this
Agreement, and there is no basis known to VCGH or the Company for any such action. No litigation
is pending, or to VCGH’s or the Company’s knowledge, contemplated or threatened against VCGH or the
Company, or their assets or properties which seeks to restrain or enjoin the execution and delivery
of this Agreement or any of the documents referred to herein or the consummation of any of the
transactions contemplated thereby or hereby. Neither VCGH nor the Company is subject to any
judicial injunction or mandate or any quasi-judicial or administrative order or restriction
directed to or against them of which would affect the Company, the Purchased Assets, the Land or
the business of the Jaguar’s Gold Club, except for litigation involving the Texas Patron Tax.

Section 5.9 Taxes. The Company has timely and accurately prepared and filed all
federal, state, foreign and local tax returns and reports required to be filed prior to such dates
and has timely paid all taxes shown on such returns as owed for the periods of such returns,
including all sales taxes and withholding or other payroll related taxes shown on such returns.
The Company is not delinquent in the payment of any tax or governmental charge of any nature.
Neither the Company nor VCGH have any knowledge of any liability for any tax to be imposed by any
taxing authorities upon the Company as of the date of this Agreement and as of the Closing that is
not adequately provided for. No assessments or notices of deficiency or other communications have
been received by VCGH or the Company with respect to any tax return which has not been paid,
discharged or fully reserved against and no amendments or applications for refund have been filed
or are planned with respect to any such return. None of the federal, state, foreign and local tax
returns of the Company have been audited by any taxing authority. Neither VCGH nor the Company
have any knowledge of any additional assessments, adjustments or contingent tax liability (whether
federal or state) of any nature whatsoever, whether pending or threatened against the Company for
any period, nor of any basis for any such assessment, adjustment or contingency. There are no
agreements between the Company or VCGH and any taxing authority, including, without limitation, the
Internal Revenue Service, waiving or extending any statute of limitations with respect to any tax
return, except for the Texas Patron Tax.

Section 5.10 Financial Statements. VCGH and the Company have delivered to Purchaser
the unaudited balance sheets of the Company as of June 30 2010, together with the related
unaudited statements of income, for the periods then ended (collectively referred to as the
“Financial Statements”). Such Financial Statements are in accordance with the books and records of
the Company and fairly represent the financial position of the Company and the results of
operations and changes in financial position of the Company as of the dates and for the periods
indicated, in each case in conformity with generally accepted accounting principles applied on a
consistent basis. Except as, and to the extent reflected or reserved against in the Financial
Statements, the Company, as of the date of the Financial Statements, has no material liability or
obligation of any nature, whether absolute, accrued, continued or otherwise, not fully reflected or
reserved against in the Financial Statements.

Section 5.11 No Material Adverse Change. Since the date of the Financial Statements,
the Company has conducted its business in the ordinary course, consistent with past practice, and
there has been no (i) change that has had or would reasonably be expected to have a material
adverse effect upon the assets or business or the financial condition or other operations of the
Company; (ii) acquisition or disposition of any material asset by the Company or any contract or
arrangement therefore, otherwise then for fair value in the ordinary course of business; (iii)
material change in the Company’s accounting principles, practices or methods; (iv) incurrence of
any material indebtedness or lending of money to any person or entity; (v) acceleration,
termination, modification or cancellation of any agreement, contract, lease or license (or series
of related agreements, contracts, leases or licenses) involving more than $5,000 to which the
Company is a party; (vi) no material change in, or removal of, Purchased Assets located at Jaguar’s
Gold Club; or (vii) delay or postponement in the payment of any accounts payable or other
liabilities.

Section 5.12 Labor Matters. The Company is not a party or otherwise subject to any
collective bargaining agreement with any labor union or association. There are no discussions,
negotiations, demands or proposals that are pending or have been conducted or made with or by any
labor union or association, and there are not pending or threatened against the Company any labor
disputes, strikes or work stoppages. To the best of the Company’s and VCGH’s knowledge, the
Company is in compliance with all federal and state laws respecting employment and employment
practices, terms and conditions of employment and wages and hours, and, to their knowledge, is not
engaged in any unfair labor practices. Neither the Company nor Jaguar’s Gold Club is a party to
any written or oral contract, agreement or understanding for the employment of any officer,
director or employee of the Company.

Section 5.13 Compliance with Laws. To the best of VCGH’s and the Company’s knowledge,
the Company is, and at all times prior to the date hereof, has been in compliance with all
statutes, orders, rules, ordinances and regulations applicable to it or to the ownership of its
assets or the operation of its businesses. Neither VCGH nor the Company have any basis to expect,
nor have they received, any order or notice of any such violation or claim of violation of any such
statute, order, rule, ordinance or regulation by the Company. The Company owns, holds, possesses
or lawfully uses in the operation of its business all permits and licenses which are in any manner
necessary or required for it to conduct its operation and business as now being conducted. Exhibit
5.13 sets forth all licenses and permits held by the Company used in the operation of the business
of Jaguar’s Gold Club, all of which are in good standing and in effect as of the Closing Date.

Section 5.14 No Conflicts. The execution and delivery of this Agreement by the
Company and VCGH does not, and the performance and consummation of the transactions contemplated
hereby by the Company and VCGH, will not (i) conflict with the articles of organization or
regulations of the Company or VCGH, as appropriate; (ii) conflict with or result in a breach or
violation of, or default under, or give rise to any right of acceleration or termination of, any of
the terms, conditions or provisions of any note, bond, lease, license, agreement or other
instrument or obligation to which the Company or VCGH is a party or by which the Company’s or
VCGH’s assets or properties are bound; or (iii) result in the creation of any encumbrance on any of
the assets or properties of the Company, including the business of Jaguar’s Gold Club.

Section 5.15 Title to Properties; Encumbrances. The Company has good and marketable
title to all of the Purchased Assets set forth in Section 1.1 herein, and VCGH has good and
marketable title to all of the Purchased Assets set forth in Section 1.2 herein, which together
represent all of the assets, personal, tangible, and intangible, that are material to the
conditions (financial or otherwise), business, operations or prospects of the Company and Jaguar’s
Gold Club, free and clear of all mortgages, claims, liens, security interests, charges, leases,
encumbrances and other restrictions of any kind and nature, except (i) as disclosed in the
Financial Statements of the Company, (ii) statutory liens not yet delinquent, and (iii) such liens
consisting of zoning or planning restrictions, imperfections of title, easements and encumbrances,
if any, as do not materially detract from the value or materially interfere with the present use of
the property or assets subject thereto or affected thereby, including the business of Jaguar’s Gold
Club. As of the Closing Date, the assets of the Company shall include, but shall not be limited
to, the non cash assets set forth in the Company’s 2009 corporate income tax return, along with all
equipment located on the premises at Jaguar’s Gold Club as of the Closing Date.

Section 5.16 No Liabilities. Except as to bills not yet received, (which Company
shall pay as to the amounts incurred prior to closing) as of the Closing Date, the Company does not
and shall not have any obligation or liability (contingent or otherwise) or unpaid bill to any
third party.

Section 5.17 Contracts and Leases. Except as shown on Exhibit 5.17, the Company
and/or VCGH does not (i) have any leases of personal property relating to the Purchased Assets,
whether as lessor or lessee; (ii) have any contractual or other obligations relating to the
Purchased Assets, whether written or oral; and/or (iii) have given any power of attorney to any
person or organization for any purpose relating to the Purchased Assets or business of the Company
or Jaguar’s Gold Club. VCGH has an existing real estate ground lease agreement covering the
Premises where Jaguar’s Gold Club operates its adult entertainment cabaret located at 12325
Calloway Cemetery Road, Fort Worth, Texas, 76040 (the “Old Lease Agreement”), which is currently
subleased by VCGH to the Company. The Old Lease Agreement will be terminated as of the Closing
Date. The Company shall provide to Purchaser prior to the Closing Date each and every contract,
lease or other document relating to the assets of the Company to which it is subject or is a party
or a beneficiary. To the Company’s and VCGH’s knowledge, such contracts, leases or other documents
are valid and in full force and effect according to their terms and constitute legal, valid and
binding obligations of the Company and the other respective parties thereto and are enforceable in
accordance with their terms. VCGH and the Company have no knowledge of any default or breach under
such contracts, leases or other documents or of any pending or threatened claims under any such
contracts, leases or other documents. Neither the execution of this Agreement, nor the
consummation of all or any of the transactions contemplated under this Agreement, will constitute a
breach or default under any such contracts, leases or other documents which would have a material
adverse effect on the financial condition of the Company or the operation of Jaguar’s Gold Club
after the Closing.

Section 5.18 No Pending Transactions. Except for the transactions contemplated by
this Agreement and the Related Transaction contemplated in Section 4.3 herein, the Company and/or
VCGH is not a party to or bound by or the subject of any agreement, undertaking, commitment or
discussions or negotiations with any person that could result in: (i) the sale, merger,
consolidation or recapitalization of the Company; (ii) the sale of any of the Purchased Assets;
(iii) the sale of any outstanding capital stock of the Company; (iv) the acquisition by the Company
of any operating business or the capital stock of any other person or entity; (v) the borrowing of
money; (vi) any agreement with any of the respective officers, managers or affiliates of the
Company; or (vii) the expenditure of more than $5,000 or the performance by the Company extending
for a period more than one year from the date hereof.

Section 5.19 Material Agreements; Action. Except for the transactions contemplated
by this Agreement and the Related Transactions contemplated in Section 4.3 herein, there are no
contracts, agreements, commitments, understandings or proposed transactions, whether written or
oral, to which VCGH or the Company are a party or by which they are bound that involve or relate to
(i) any of the respective officers, directors, stockholder or partners of the Company or (ii)
covenants of VCGH or the Company not to compete in any line of business or with any person in any
geographical area or covenants of any other person not to compete with the Company in any line of
business or in any geographical area.

Section 5.20 Insurance Policies. Copies of all insurance policies maintained by the
Company and/or VCGH relating to the operation of Jaguar’s Gold Club have been or will be delivered
or made available to Purchaser. The policies of insurance held by the Company and/or VCGH are in
such amounts, and insure against such losses and risks, as the Company and/or VCGH reasonably deem
appropriate for their property and business operations. All such insurance policies are in full
force and effect through July 16, 2010, and all premiums due thereon have been paid.

Section 5.21 No Default. Neither VCGH nor the Company is in default under any term or
condition of any instrument evidencing, creating or securing any indebtedness of the Company, and
there has been no default in any material obligation to be performed by VCGH or the Company under
any other contract, lease, agreement, commitment or undertaking to which the Company is a party or
by which it or its assets or properties are bound, nor have VCGH or the Company waived any material
right under any such contract, lease, agreement, commitment or undertaking.

Section 5.22 Books and Records. The books of account, minute books, stock record
books and other records of the Company, all of which have been made available to Purchaser, are
accurate and complete and have been maintained in accordance with sound business practices.

Section 5.23 Unpaid Bills. As of the Closing, there will be no unpaid bills or claims
in connection with any repair of the Premises or other work performed or materials purchased in
connection with the repair of the Premises.

Section 5.24 Notices. Neither the Company nor VCGH or any representative of the
Company or VCGH have received any written notice (i) from any insurance companies, governmental
agencies or from any other parties of any condition, defects or inadequacies with respect to the
Premises which, if not corrected, would result in termination of insurance coverage or increase its
cost, (ii) from any governmental agencies or any other third parties with respect to any violations
of any building codes and/or zoning ordinances or any other governmental laws, regulations or
orders affecting the Premises, including, without limitation, the Americans With Disabilities Act,
(iii) of any pending or threatened condemnation proceedings with respect to the Premises, or (iv)
of any proceedings which could or would cause the change, redefinition or other modification of the
zoning classification of the Premises.

Section 5.25 Proceedings Relating to Premises. There is no pending, or to the best
knowledge of the Company or VCGH or any representative of the Company or VCGH, contemplated or
threatened judicial, municipal or administrative proceedings with respect to, or in any manner
affecting the Premises or any portion thereof, including, without limitation, proceedings for or
involving tenant evictions, collections, condemnations, eminent domain, alleged building code or
zoning violations, personal injuries or property damage alleged to have occurred on the Premises or
by reason of the use and operation of the Premises, or written notice of any attachments,
executions, assignments for the benefit of creditors, receiverships, conservatorships or voluntary
or involuntary proceedings in bankruptcy or pursuant to any other debtor relief laws pending or
threatened against VCGH or the Company or the Premises itself, or the taking of the Premises for
public needs.

Section 5.26 Public Improvements. None of the Company, VCGH or any representative of
the Company or VCGH has knowledge of any existing or proposed public improvements which involve or
which may result in any charge being levied or assessed against the Premises or which will or could
result in the creation of any lien upon the Premises or any part thereof.

Section 5.27 Certificates. To the best knowledge of the Company, VCGH or any
representative of the Company or VCGH, all certificates of occupancy, licenses, permits,
authorizations and approvals required by law or by any governmental authority having jurisdiction
over the Premises have been obtained and are in full force and effect.

Section 5.28 Material Defect. To the best knowledge of the Company, VCGH or any
representative of the Company or VCGH, there are no material defects to the Premises which have not
been disclosed in writing to the Purchaser.

Section 5.29 Flooding. To the best knowledge of the Company, VCGH or any
representative of the Company or VCGH no flooding has occurred on the Premises.

Section 5.30 Environmental. To the best of the Company’s and VCGH’s knowledge, the
Land or Building and Fixtures is not in violation of any state, local or federal statutes, laws,
regulations, ordinances, or rules pertaining to health or the environment requirements affecting
the Land or Building and Fixtures. The Company or VCGH has not received any citation, directive,
letter or other communication, written or oral, or any notice of any proceeding, claim or lawsuit
relating to any environmental issue arising out of the ownership or occupation of the Premises, and
there is no basis known to the Company or VCGH for any such action.

Section 5.31 Disclosure. No representation or warranty of VCGH or the Company
contained in this Agreement (including the exhibits hereto) contains any untrue statement or omits
to state a material fact necessary in order to make the statements contained herein or therein, in
light of the circumstances under which they were made, not misleading.

Section 5.32 Employee Benefit Plans. The Company is not a party to any
employee-benefit plan.

Section 5.33 Brokerage Commission. No broker or finder has acted on behalf of VCGH or
the Company in connection with this Agreement or the transactions contemplated hereby and no person
is entitled to any brokerage or finder’s fee or compensation in respect thereto based in any way on
agreements, arrangements or understandings made by or on behalf of VCGH or the Company.

ARTICLE VI

REPRESENTATIONS AND WARRANTIES

OF PURCHASER

The Purchaser hereby represents and warrants to the Company and VCGH as follows:

Section 6.1 Organization, Good Standing and Qualification of the Purchaser. The
Purchaser (i) is an entity duly organized, validly existing and in good standing under the laws of
the state of Texas, (ii) has all requisite power and authority to carry on its business, and (iii)
is duly qualified to transact business and is in good standing in all jurisdictions where its
ownership, lease or operation of property or the conduct of its business requires such
qualification, except where the failure to do so would not have a material adverse effect to the
Purchaser.

Section 6.2 Authorization. All action on the part of the Purchaser necessary for the
authorization, execution, delivery and performance of this Agreement and all documents related to
consummate the transactions contemplated herein has been taken by the Purchaser. The Purchaser has
the requisite power and authority to execute and deliver this Agreement and to perform its
obligations hereunder and to consummate the transactions contemplated hereby. This Agreement, when
duly executed and delivered in accordance with its terms, will constitute a valid and binding
obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except
as may be limited by bankruptcy, insolvency, reorganization, and other similar laws of general
application relating to or affecting creditors’ rights and to general equitable principles.

Section 6.3 No Breaches or Defaults. The execution, delivery, and performance of this
Agreement by Purchaser does not: (i) conflict with, violate, or constitute a breach of or a
default under or (ii) require any authorization, consent, approval, exemption, or other action by
or filing with any third party or Governmental Authority under any provision of: (a) any
applicable Legal Requirement, or (b) any credit or loan agreement, promissory note, or any other
agreement or instrument to which Purchaser is a party.

Section 6.4 Consents. No permit, consent, approval or authorization of, or
designation, declaration or filing with, any Governmental Authority or any other person or entity
is required on the part of Purchaser in connection with the execution and delivery by Purchaser of
this Agreement or the consummation and performance of the transactions contemplated hereby.

Section 6.5 Disclosure. No representation or warranty of Purchaser contained in this
Agreement (including the exhibits hereto) contains any untrue statement or omits to state a
material fact necessary in order to make the statements contained herein or therein, in light of
the circumstances under which they were made, not misleading.

Section 6.6 Brokerage Commission. No broker or finder has acted on behalf of the
Purchaser in connection with this Agreement or the transactions contemplated hereby and no person
is entitled to any brokerage or finder’s fee or compensation in respect thereto based in any way on
agreements, arrangements or understandings made by or on behalf of the Purchaser.

Section 6.7 Ownership of the VCGH Shares. Purchaser owns, beneficially and of record,
the VCGH Shares free and clear of any liens, claims, equities, charges, options, rights of first
refusal, or encumbrances. Purchaser has the unrestricted right and power to transfer, convey and
deliver full ownership of the VCGH Shares without the consent or agreement of any other entity or
person and without any designation, declaration or filing with any governmental authority. Upon
the transfer of the VCGH Shares to the Company as contemplated herein, the Company will receive
good and valid title thereto, free and clear of any liens, claims, equities, charges, options,
rights of first refusal, encumbrances or other restrictions, except such restrictions imposed by
applicable securities laws.

ARTICLE VII

CONDITIONS TO CLOSING OF

VCGH AND THE COMPANY

Each obligation of VCGH and the Company to be performed on the Closing Date shall be subject
to the satisfaction of each of the conditions stated in this Article VII, except to the extent that
such satisfaction is waived by VCGH and the Company in writing.

Section 7.1 Payment of Purchase Price. Purchaser shall have tendered the Purchase
Price for the Purchased Assets to the Company and/or VCGH concurrently with the Closing.

Section 7.2 Related Transactions. The Related Transactions set forth in Section 4.3
shall be consummated concurrently with the Closing.

Section 7.3 Corporate Resolutions. Purchaser shall provide a corporate resolution of
its Board of Directors which approves the transactions contemplated herein and authorizes the
execution, delivery and performance of this Agreement and the documents referred to herein to which
they are or will be a party dated as of the Closing Date.

Section 7.4 Absence of Proceedings. No action, suit or proceeding by or before any
court or any governmental or regulatory authority shall have been commenced and no investigation by
any governmental or regulatory authority shall have been commenced seeking to restrain, prevent or
challenge the transactions contemplated hereby or seeking judgments against Purchaser.

ARTICLE VIII

CONDITIONS TO CLOSING OF

PURCHASER

Each obligation of Purchaser to be performed on the Closing Date shall be subject to the
satisfaction of each of the conditions stated in this Article VIII, except to the extent that such
satisfaction is waived by Purchaser in writing.

Section 8.1 Ownership of Purchased Assets. The Company shall own not less than 100%
of the Purchased Assets set forth in Section 1.1 herein, and VCGH shall own not less than 100% of
the Purchased Assets set forth in Section 1.2 herein, which together represent all of the assets,
personal, tangible and intangible that are required and material to the condition (financial or
otherwise), business, operations or prospects of Jaguar’s Gold Club.

Section 8.2 Delivery of Purchased Assets. The Company and VCGH shall have delivered
all instruments of assignment and bills of sale necessary to transfer to Purchaser good and
marketable title to the Purchased Assets in form and substance satisfactory to the Purchaser,
including without limitation delivery of appropriate legal documents necessary to convey good and
marketable title to the Building and Fixtures free and clear of all encumbrances;.

Section 8.3 Company Resolution. The Company shall provide a resolution of its sole
Member, VCGH, which approves all of the transactions contemplated herein and authorizes the
execution, delivery and performance of this Agreement and the documents referred to herein to which
it is or is to be a party dated as of the Closing Date.

Section 8.4 VCGH Resolution. VCGH shall provide a resolution of its Board of
Directors which approves all of the transactions contemplated herein and authorizes the execution,
delivery and performance of this Agreement and the documents referred to herein to which it is or
is to be a party dated as of the Closing Date.

Section 8.5 Consents; Status of Permits and Licenses. Purchaser shall possess all
necessary permits, zoning classifications and other authorizations, whether city, county, state or
federal, which may be needed to conduct adult fully nude entertainment on the Premises, without any
interruption, and all such permits, zoning classifications and authorizations shall be in good
order, without any administrative actions pending or concluded that may challenge or present an
obstacle to the continued performance of adult fully nude entertainment at Jaguar’s Gold Club. All
necessary transfers of licenses and leases required for the continued operation of the business of
the Company shall have been obtained. The Specialized Certificate of Occupancy of Jaguar’s Gold
Club and the Company shall be in full force and effect.

Section 8.6 Related Transactions. The Related Transaction set forth in Section 4.3
shall be consummated concurrently with the Closing.

Section 8.7 No Assumption of Liabilities. The Purchaser shall not assume any
liabilities of the Company or the business of Jaguar’s Gold Club as of the date of Closing.

Section 8.8 Termination of Existing Leases. Any and all existing leases for the Land
and the Building and Fixtures, including but not limited to the Old Lease Agreement and any lease
and/or sublease agreements for the Land and/or Building and Fixtures between VCGH and the Company,
shall have been terminated.

Section 8.9 Absence of Proceedings. No action, suit or proceeding by or before any
court or any governmental or regulatory authority shall have been commenced and no investigation by
any governmental or regulatory authority shall have been commenced seeking to restrain, prevent or
challenge the transactions contemplated hereby or seeking judgments against the Company or any of
its assets.

ARTICLE IX

CLOSING ADJUSTMENTS

VCGH, the Company and the Purchaser agree that there shall be an adjustment made within ninety
(90) days of the Closing Date to adjust for any liabilities that are found to exist of the Company
as of the Closing Date, as such liabilities may relate to the Purchased Assets or the business of
Jaguar’s Gold Club, so that the Company and VCGH shall be responsible and liable to the Purchaser
for the liabilities of the Company that exist as of the Closing Date, less any credit which the
Company or VCGH would be entitled to for cash on hand, credit card receivables or pro rata portion
of prepaid items.

ARTICLE X

INDEMNIFICATION

Section 10.1 Indemnification from VCGH and the Company. The Company and VCGH, jointly
and severally, hereby agree to and shall indemnify, defend (with legal counsel reasonably
acceptable to Purchaser), and hold Purchaser, its officers, directors, shareholders, employees,
affiliates, parent, agents, legal counsel, successors and assigns (collectively, the “Purchaser
Group”) harmless at all times after the date of this Agreement, from and against any and all
actions, suits, claims, demands, debts, liabilities, obligations, losses, damages, costs, expenses,
penalties or injury (including reasonable attorneys’ fees and costs of any suit related thereto)
suffered or incurred by any of the Purchaser Group arising from: (a) any misrepresentation by, or
breach of any covenant or warranty of VCGH or the Company contained in this Agreement, or any
exhibit, certificate, or other instrument furnished or to be furnished by VCGH or the Company
hereunder; (b) any nonfulfillment of any agreement on the part of VCGH or the Company under this
Agreement; (c) any liability or obligation due to any third party by the Company incurred at or
prior to the Closing Date, including but not limited to any liability pursuant to the Texas Patron
Tax; (d) any suit, action, proceeding, claim or investigation against Purchaser Group which arises
from or which is based upon or pertaining to VCGH’s or the Company’s conduct or the operation or
liabilities of the business of the Company prior to the Closing Date or (e) any suit, action,
proceeding, claim or investigation against any of the Purchaser Group arising out of or resulting
in any claims by the former landlord that the Company failed to fulfill any of its obligations
under its Old Lease Agreement at any time prior to the Closing Date.

Section 10.2 Indemnification from Purchaser. Purchaser agrees to and shall indemnify,
defend (with legal counsel reasonably acceptable to the Company and VCGH) and hold the Company and
VCGH, and their respective officers, directors, affiliates, agents, legal counsel, successors and
assigns (collectively, the “VCGH Group”) harmless at all times after the date of the Agreement from
and against any and all actions, suits, claims, demands, debts, liabilities, obligations, losses,
damages, costs, expenses, penalties or injury (including reasonable attorney’s fees and costs of
any suit related thereto) suffered or incurred by any of the VCGH Group, arising from (a) any
misrepresentation by, or breach of any covenant or warranty of Purchaser contained in this
Agreement or any exhibit, certificate, or other agreement or instrument furnished or to be
furnished by Purchaser hereunder; (b) any nonfulfillment of any agreement on the part of Purchaser
under this Agreement; or (c) any suit, action, proceeding, claim or investigation against the VCGH
Group which arises from or which is based upon or pertaining to Purchaser’s conduct or the
operation of the business of the Company subsequent to the Closing Date.

Section 10.3 Defense of Claims. If any lawsuit enforcement action or any attempt to
collect on an alleged liability is filed against any party entitled to the benefit of indemnity
hereunder, written notice thereof shall be given to the indemnifying party within ten (10) business
days after receipt of notice or other date by which action must be taken; provided that the
failure of any indemnified party to give timely notice shall not affect rights to indemnification
hereunder except to the extent that the indemnifying party demonstrates damage caused by such
failure. After such notice, the indemnifying party shall be entitled, if it so elects, to take
control of the defense and investigation of such lawsuit or action and to employ and engage
attorneys of its own choice to handle and defend the same, at the indemnifying party’s cost, risk
and expense; and such indemnified party shall cooperate in all reasonable respects, at its cost,
risk and expense, with the indemnifying party and such attorneys in the investigation, trial and
defense of such lawsuit or action and any appeal arising therefrom; provided, however, that the
indemnified party may, at its own cost, participate in such investigation, trial and defense of
such lawsuit or action and any appeal arising therefrom. The indemnifying party shall not, without
the prior written consent of the indemnified party, effect any settlement of any proceeding in
respect of which any indemnified party is a party and indemnity has been sought hereunder unless
such settlement of a claim, investigation, suit, or other proceeding only involves a remedy for the
payment of money by the indemnifying party and includes an unconditional release of such
indemnified party from all liability on claims that are the subject matter of such proceeding.

Section 10.4 Default of Indemnification Obligation. If an entity or individual having
an indemnification, defense and hold harmless obligation, as above provided, shall fail to assume
such obligation, then the party or entities or both, as the case may be, to whom such
indemnification, defense and hold harmless obligation is due shall have the right, but not the
obligation, to assume

and maintain such defense (including reasonable counsel fees and costs of any suit related thereto)
and to make any settlement or pay any judgment or verdict as the individual or entities deem
necessary or appropriate in such individuals or entities absolute sole discretion and to charge the
cost of any such settlement, payment, expense and costs, including reasonable attorneys’ fees, to
the entity or individual that had the obligation to provide such indemnification, defense and hold
harmless obligation and same shall constitute an additional obligation of the entity or of the
individual or both, as the case may be.

Section 10.5 Survival of Representations and Warranties. The respective
representations, warranties and indemnities given by the parties to each other pursuant to this
Agreement shall survive the Closing for a period ending forty-eight (48) months from the Closing
Date (“Survival Date”). Notwithstanding anything to the contrary contained herein, no claim for
indemnification may be made against the party required to indemnify (the “Indemnitor”) under this
Agreement unless the party entitled to indemnification (the “Indemnitee”) shall have given the
Indemnitor written notice of such claim as provided herein on or before the Survival Date. Any
claim for which notice has been given prior to the expiration of the Survival Date shall not be
barred hereunder.

ARTICLE XI

MISCELLANEOUS

Section 11.1 Amendment; Waiver. Neither this Agreement nor any provision hereof may
be amended, modified or supplemented unless in writing, executed by all the parties hereto. Except
as otherwise expressly provided herein, no waiver with respect to this Agreement shall be
enforceable unless in writing and signed by the party against whom enforcement is sought. Except
as otherwise expressly provided herein, no failure to exercise, delay in exercising, or single or
partial exercise of any right, power or remedy by any party, and no course of dealing between or
among any of the parties, shall constitute a waiver of, or shall preclude any other or further
exercise of, any right, power or remedy.

Section 11.2 Notices. Any notices or other communications required or permitted
hereunder shall be sufficiently given if in writing and delivered in Person or sent by registered
or certified mail (return receipt requested) or nationally recognized overnight delivery service,
postage pre-paid, addressed as follows, or to such other address has such party may notify to the
other parties in writing:

	 	 	 	 	 	 	 	 	 
	 	(a)	 	 	If to VCGH:	 	VCG Holding Corp.
Attn: Troy Lowrie
390 Union Blvd., Suite 540
Lakewood, Colorado 80228

	 	 	 	 	with a copy to:	 	Martin A. Grusin, Esq.
780 Ridge Lake Blvd., Suite 202
Memphis, TN 38120

	 	(b)	 	 	If to the Company:	 	Golden Productions JGC Fort Worth, LLC
Attn: Micheal Ocello
1401 Mississippi Ave., Bay 10
Sauget, IL 62201

	 	(e)	 	 	If to the Purchaser:	 	RCI Entertainment (Fort Worth), Inc.
Attn: Eric Langan, President
10959 Cutten Road
Houston, Texas 77066

	 	 	 	 	with a copy to:	 	Robert D. Axelrod
Axelrod, Smith & Kirshbaum
5300 Memorial Drive, Suite 700
Houston, Texas 77007

A notice or communication will be effective (i) if delivered in Person or by overnight courier, on
the business day it is delivered and (ii) if sent by registered or certified mail, three (3)
business days after dispatch.

Section 11.3 Severability. Whenever possible, each provision of this Agreement shall
be interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Agreement is held to be prohibited by or invalid under applicable law, such
provision will be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement.

Section 11.4 Assignment; Successors and Assigns. Except as otherwise provided
herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors
and permitted assigns of the parties hereto. No party hereto may assign its rights or delegate its
obligations under this Agreement without the prior written consent of the other parties hereto,
which consent will not be unreasonably withheld.

Section 11.5 Public Announcements. The parties hereto agree that prior to making any
public announcement or statement with respect to the transactions contemplated by this Agreement,
the party desiring to make such public announcement or statement shall consult with the other
parties hereto and exercise their best efforts to agree upon the text of a public announcement or
statement to be made by the party desiring to make such public announcement; provided, however,
that if any party hereto is required by law to make such public announcement or statement, then
such announcement or statement may be made without the approval of the other parties.

Section 11.6 Entire Agreement. This Agreement and the other documents delivered
pursuant hereto constitute the full and entire understanding and agreement between the parties with
regard to the subject matter hereof and thereof and supersede and cancel all prior representations,
alleged warranties, statements, negotiations, undertakings, letters, acceptances, understandings,
contracts and communications, whether verbal or written among the parties hereto and thereto or
their respective agents with respect to or in connection with the subject matter hereof.

Section 11.7 Choice of Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Texas, without regard to principles of conflict of laws.
In any action between or among any of the parties, whether arising out of this Agreement or
otherwise, each of the parties irrevocably consents to the exclusive jurisdiction and venue of the
federal and state courts located in Harris County, Texas.

Section 11.8 Execution. This Agreement may be executed in two or more counterparts,
all of which when taken together shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the other party, it
being understood that both parties need not sign the same counterpart. In the event that any
signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data
file, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) with the same force and effect as if such facsimile or
“.pdf” signature page were an original thereof.

Section 11.9 Costs and Expenses. Each party shall pay their own respective fees,
costs and disbursements incurred in connection with this Agreement.

Section 11.10 Section Headings. The section and subsection headings in this Agreement
are used solely for convenience of reference, do not constitute a part of this Agreement, and shall
not affect its interpretation.

Section 11.11 No Third-Party Beneficiaries. Nothing in this Agreement will confer any
third party beneficiary or other rights upon any person (specifically including any employees of
The Company) or any entity that is not a party to this Agreement.

Section 11.12 Further Assurances. Each party covenants that at any time, and from
time to time, after the Closing Date, it will execute such additional instruments and take such
actions as may be reasonably requested by the other parties to confirm or perfect or otherwise to
carry out the intent and purposes of this Agreement.

Section 11.13 Exhibits Not Attached. Any exhibits not attached hereto on the date of
execution of this Agreement shall be deemed to be and shall become a part of this Agreement as if
executed on the date hereof upon each of the parties initialing and dating each such exhibit, upon
their respective acceptance of its terms, conditions and/or form.

Section 11.14 Attorney Review — Construction. In connection with the negotiation and
drafting of this Agreement, the parties represent and warrant to each other that they have had the
opportunity to be advised by attorneys of their own choice and, therefore, the normal rule of
construction to the effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of this Agreement or any amendments hereto.

Section 11.15 Gender. All personal pronouns used in this Agreement shall include the
other genders, whether used in the masculine, feminine or neuter gender and the singular shall
include the plural and vice versa, wherever appropriate.

[SIGNATURES APPEAR ON THE FOLLOWING PAGE.]

1

IN WITNESS WHEREOF, the undersigned have executed this Asset Purchase Agreement to become
effective as of the date first set forth above.

	 	 	 	RCI
ENTERTAINMENT (FORT WORTH), INC.

/s/ Eric Langan      

By: Eric Langan, President

GOLDEN PRODUCTIONS JGC FORT WORTH, LLC

      /s/ Troy Lowrie      

By: Troy Lowrie, Manager      

VCG HOLDING CORP.

      /s/ Troy Lowrie      

By: Troy Lowrie, CEO     

2

EXHIBIT A

all that certain tract, parcel, or lot of land located in the J.

W. Calloway Survey, Abstract No. 336, City of Fort Worth. County of Tarrant, Texas. according to
the deed recorded in Volume 17130, Page 375, Deed Records, and County Clerks Document No.
D206221398 Tarrant County, Texas, and being more particularly described by metes and bounds as
follows:

BEGINNING at a point in the East line of Lot 1, Block 1, Calloway Addition an addition to the City
of Fort Worth, Tarrant County, Texas according to the plat recorded in Cabinet A, Slide 9943 Plat
Records, Tarrant County, Texas, lying S00°03’OS’W a distance of 72.35 feet from the North corner of
said Lot 1;

THENCE S00’03’05W. a distance of 334.01 feet along said East line to a point at the Southeast
corner of said Lot 1;

THENCE N8905222’W, a distance of 534.27 feet along the South line of said Lot Ito a point at the
Southwest corner of said Lot I;

THENCE along the Westerly line of said Lt 1 as follows:

1. N47°24’53’W, a distance of 63.54 feet to a point;

2. N02’02’23’W, a distance of 14.52 feet to a point:

3. 589’52’22”E, a distance of 46.16 feet to a point;

4. N00°07’36’E, a distance of 12.66 feet to a point;

THENCE N89’52’22’W, a distance of 26.96 feet to a point lying 35.00 feet perpendicular from the
west line of a tract of land described in the deed to Jerry Spencer, L.P. recorded in Volume 17131,
Page 244, Deed Records, Tarrant County, Texas;

THENCE N02°14’36”W, a distance of 114.30 feet along a line 35 feet Easterly of and parallel with
said West line of Spencer tract to a point;

THENCE Easterly, 361.36 feet along a non tangent curve to the left, having a radius of 1,010.00
feet, a central angle of 21 o38•02• and a chord bearing N69°07’Ol”E, 37g.l 0 feet to a point;

THENCE S89’56’55”E, a distance of 227.66 feet to the point of beginning, containing 3.769 acres of
land.

The bearings recited hereon are oriented to the plat of Lot I, Block 1, Calloway Addition recorded
in Cab. A, Sld. 9943, Piaf Records, Tarrant County, Texas

3

EXHIBIT 1.3

Aloha POS System

ATM machine

Ice machine

Banquet tables

True beer boxes

Copier/ scanner/ printer

Vending Machine

Pool table

Wire storage shelves

Lockers

Black chairs

Tanning bed

Mini fridge

Mirrors

Filing cabinets

Desk

Business phones

Speakers

Pin spot lights

Disco balls

VHS players

TV’s

Amps

Speakers

Sub boxes

Computer

Monitor

Sound board

CD player

Microphone

Projector

Led lights

Fusion lights

Strobe lights

Bookshelves

Cash counter

Paper shredder

Printers

CPU surveillance

Safes

High top tables

Low top tables

Bar chairs

Barrel chairs

Pedestals

Brown sofa

Brown sofa chairs

Maroon U-shaped booth

Leopard print sofa

Leopard print dividers

Maroon wall sofa

4

EXHIBIT 1.4

	 	1.	 	Mobile billboard truck

	 	2.	 	Licenses

	 	a.	 	Texas Cigarette and / or Cigars and Tobacco Products Taxes Permit

	 	b.	 	Sexually Oriented Business License

	 	c.	 	City of Fort Worth Alarm Permit

	 	d.	 	City of Fort Worth Consumer Health Division Permit

	 	e.	 	Coin Operated Amusement Stamps

	 	f.	 	Texas Sales and Use Tax Permit

	 	3.	 	Cash on hand in ATM

5

EXHIBIT 5.13

(see Exhibit 1.4)

6

EXHIBIT 5.17

Agreement with Frontline Security Co.

Agreement with Club Wise Financial L.P.

Agreement with Direct TV

Agreement with ASCAP

Agreement with Champion Energy

7

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