Document:

Certificate of Incorporation of MySpace, Inc.

 Exhibit 10.5 
  
 CERTIFICATE OF INCORPORATION 
  

OF 
  
 MYSPACE, INC. 
  
 The undersigned, a natural person (the “Sole Incorporator”), for the purpose of organizing a corporation to conduct the business and promote the purposes hereinafter stated, under the
provisions and subject to the requirements of the laws of the State of Delaware hereby certifies that: 
  
 I. 
  
 The name of this company is MySpace, Inc. (the “Company”). 
  
 II. 
  
 The address of the
registered office of the corporation in the State of Delaware is 1209 Orange Street, City of Wilmington, County of New Castle, and the name of the registered agent of the corporation in the State of Delaware at such address is CT Corporation
System. 
  
 III. 
  
 The purpose of the Company is to engage in any lawful act or activity for
which a corporation may be organized under the Delaware General Corporation Law (“DGCL”). 
  
 IV. 
  
 A. The Company is authorized to issue two classes of stock to be designated, respectively, “Common Stock” and “Preferred Stock.” The total number of shares that the Company is authorized to issue is fifteen
million eight hundred eighty thousand (15,880,000) shares, fifteen million (15,000,000) shares of which shall be Common Stock (the “Common Stock”) and eight hundred eighty thousand (880,000) shares of which shall be Preferred
Stock (the “Preferred Stock”). The Preferred Stock shall have a par value of one-tenth of one cent ($0.001) per share and the Common Stock shall have a par value of one-tenth of one cent ($0.001) per share. 
  
 B. The number of authorized shares of Common Stock may be increased or
decreased (but not below the number of shares of Common Stock then outstanding) by the affirmative vote of the holders of a majority of the stock of the Company entitled to vote (voting together as a single class on an as-if-converted basis).

  
 C. All of the authorized shares of Preferred Stock are
hereby designated “Series A Preferred Stock” (the “Series Preferred”). 
  

 1. 

 D. The rights, preferences, privileges, restrictions and other matters relating to the Series
Preferred are as follows, provided, however, that the holders of an aggregate of a majority of the then outstanding shares of the Series Preferred may waive any of the following rights, powers, preferences, or privileges applicable to
all shares of the Series Preferred in any given instance without prejudice to such rights, powers, preferences, or privileges in any other instance, and any such waiver shall bind all future holders of the shares of Series Preferred: 
  

	 	1.	DIVIDEND RIGHTS. 

  
 (a) Holders of Series Preferred, in preference to the holders of Common Stock, shall be entitled to receive, when, as and if
declared by the Board of Directors (the “Board”), but only out of funds that are legally available therefor, cash dividends of $0.46 per annum on each outstanding share of Series Preferred. Such dividends shall be payable
only when, as and if declared by the Board and shall be non-cumulative. The Board of Directors is under no obligation to declare dividends and no rights shall accrue to the holders of Preferred Stock if dividends are not declared. 
  
 (b) [intentionally omitted] 
  
 (c) So long as any shares of Series Preferred are
outstanding, the Company shall not pay or declare any dividend, whether in cash or property, or make any other distribution on the Common Stock, or purchase, redeem or otherwise acquire for value any shares of Common Stock until all dividends as set
forth in Section 1(a) above on the Series Preferred shall have been paid or declared and set apart, except for: 
  
 (i) acquisitions of Common Stock by the Company pursuant to agreements which permit the Company to repurchase such shares at cost
(or the lesser of cost or fair market value) upon termination of services to the Company; 
  
 (ii) acquisitions of Common Stock in exercise of the Company’s right of first refusal to repurchase such shares; or

  
 (iii) distributions to holders of
Common Stock in accordance with Sections 3 and 4. 
  
 (d) In the event dividends are paid on any share of Common Stock, the Company shall pay an additional dividend on all outstanding shares of Series Preferred in a per share amount equal (on an as-if converted to Common Stock basis) to
the amount paid or set aside for each share of Common Stock. 
  
 (e) The provisions of Sections 1(c) and 1(d) shall not apply to a dividend payable solely in Common Stock to which the provisions of Section 5(f) hereof are applicable, or any repurchase of any outstanding
securities of the Company that is approved by (i) the Board and (ii) holders of a majority of the then outstanding shares of Series Preferred as may be required by this Certificate of Incorporation. 
  

 2. 

 (f) California Code Sections 502 and 503 shall not apply with respect to
distributions on shares junior to the Series Preferred as they relate to repurchases of shares of Common Stock upon termination of employment or service as a consultant, officer or director. 
  

	 	2.	VOTING RIGHTS. 

  
 (a) General Rights. Each holder of shares of the Series Preferred shall be entitled to the number of votes equal to the
number of shares of Common Stock into which such shares of Series Preferred could be converted (pursuant to Section 5 hereof) immediately after the close of business on the record date fixed for such meeting or the effective date of such written
consent and shall have voting rights and powers equal to the voting rights and powers of the Common Stock and shall be entitled to notice of any stockholders’ meeting in accordance with the bylaws of the Company. Except as otherwise provided
herein or as required by law, the Series Preferred shall vote together with the Common Stock at any annual or special meeting of the stockholders and not as a separate class, and may act by written consent in the same manner as the Common Stock.
Each holder of shares of Common Stock shall be entitled to one vote for each share thereof held. 
  
 (b) Separate Vote of Series Preferred. For so long as any shares of Series Preferred remain outstanding, in addition to any
other vote or consent required herein or by law, the vote or written consent of the holders of a majority of the outstanding Series Preferred shall be necessary for effecting or validating the following actions (whether by merger, recapitalization
or otherwise): 
  
 (i) Any amendment,
alteration, or repeal of any provision of the Certificate of Incorporation or the Bylaws of the Company (including any filing of a Certificate of Designation) that relates to and would adversely affect the Series Preferred in any material respect;

  
 (ii) Any alteration or change to the
powers, preferences, or other special rights, privileges or restrictions of the Series Preferred that is materially adverse to the holders of the Series Preferred; 
  
 (iii) Any increase or decrease in the authorized number of shares of Series Preferred; 
  
 (iv) Any authorization or any designation, whether by
reclassification or otherwise, of any new class or series of stock or any other securities convertible into equity securities of the Company ranking on a parity with or senior to the Series Preferred in right of redemption, liquidation preference or
dividend rights or any increase in the authorized or designated number of any such new class or series; 
  
 (v) Any redemption, repurchase, payment or declaration of dividends or other distributions with respect to Common Stock or
Preferred Stock (except for acquisitions of Common Stock by the Company permitted by Section 1(c)(i), (ii) and (iii) hereof; or 
  

 3. 

 (vi) Any increase in the authorized number of members of the Company’s Board.

  
 (c) Election of Board of Directors.
 
  
 (i) The holders of Series
Preferred, voting as a separate class, shall be entitled to elect one (1) member of the Board (the “Preferred Director”) at each meeting or pursuant to each consent of the Company’s stockholders for the election of
directors, and to remove from office such Preferred Director and to fill any vacancy caused by the resignation, death or removal of such Preferred Director. 
  
 (ii) The holders of Common Stock, voting as a separate class, shall be entitled to elect three (3) members of the Board at each
meeting or pursuant to each consent of the Company’s stockholders for the election of directors, and to remove from office such directors and to fill any vacancy caused by the resignation, death or removal of such directors. 
  
 (iii) The holders of Common Stock and Series
Preferred, voting together as a single class on an as-if converted basis, shall be entitled to elect all remaining members of the Board at each meeting or pursuant to each consent of the Company’s stockholders for the election of directors, and
to remove from office such directors and to fill any vacancy caused by the resignation, death or removal of such directors. 
  
 (iv) No person entitled to vote at an election for directors may cumulate votes to which such person is entitled, unless, at the
time of such election, the Company is subject to Section 2115 of the California General Corporation Law (“CGCL”). During such time or times that the Company is subject to Section 2115(b) of the CGCL, every stockholder
entitled to vote at an election for directors as provided above may cumulate such stockholder’s votes and give one candidate a number of votes equal to the number of directors to be elected multiplied by the number of votes to which such
stockholder’s shares are otherwise entitled, or distribute the stockholder’s votes on the same principle among as many candidates as such stockholder desires. No stockholder, however, shall be entitled to so cumulate such
stockholder’s votes unless (i) the names of such candidate or candidates have been placed in nomination prior to the voting and (ii) the stockholder has given notice at the meeting, prior to the voting, of such stockholder’s intention to
cumulate such stockholder’s votes. If any stockholder has given proper notice to cumulate votes, all stockholders may cumulate their votes for any candidates who have been properly placed in nomination. Under cumulative voting, the candidates
receiving the highest number of votes, up to the number of directors to be elected, are elected. 
  
 (v) During such time or times that the Company is subject to Section 2115(b) of the CGCL, one or more directors may be removed from
office at any time without cause by the affirmative vote of the holders of at least a majority of the outstanding shares entitled to vote for that director as provided above; provided, however, that unless the entire Board is removed, no
individual director may be removed when the votes cast against such director’s removal, or not consenting in writing to such removal, would be sufficient to elect that director if voted cumulatively at an election which the same total number of
votes were cast (or, 

  

 4. 

 
if such action is taken by written consent, all shares entitled to vote were voted) and the entire number of directors authorized at the time of such
director’s most recent election were then being elected. 
  

	 	3.	LIQUIDATION RIGHTS. 

  
 (a) Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (a “Liquidation
Event”), before any distribution or payment shall be made to the holders of any Common Stock, the holders of Series Preferred shall be entitled to be paid out of the assets of the Company legally available for distribution for each
share of Series Preferred held by them, an amount per share of Series Preferred equal to $12.5925 (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to such shares of Series Preferred after the
filing date hereof) plus all declared and unpaid dividends on the Series Preferred. If, upon any such Liquidation Event, the assets of the Company shall be insufficient to make payment in full to all holders of Series Preferred of the liquidation
preference set forth in this Section 3(a), then such assets (or consideration) shall be distributed among the holders of Series Preferred at the time outstanding, ratably in proportion to the full amounts to which they would otherwise be
respectively entitled. 
  
 (b) After the
payment of the full liquidation preference of the Series Preferred as set forth in Section 3(a) above, the remaining assets of the Company legally available for distribution, if any, shall be distributed ratably to the holders of the Common Stock.

  

	 	4.	ASSET TRANSFER OR ACQUISITION RIGHTS.  

  
 (a) For the purposes of this Section 4 a Liquidation
Event shall be deemed to include an Acquisition or an Asset Transfer, as hereinafter defined. For purposes of this Section 4, (i) “Acquisition” shall mean (A) any consolidation or merger of the Company with or into any other
corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the stockholders of the Company immediately prior to such consolidation, merger or reorganization,
continue to hold at least a majority of the voting power of the surviving entity in substantially the same proportions (or, if the surviving entity is a wholly owned subsidiary, its parent) immediately after such consolidation, merger or
reorganization; or (B) any transaction or series of related transactions to which the Company is a party in which in excess of fifty percent (50%) of the Company’s voting power is transferred (other than to affiliates of the Company’s
stockholders); provided that an Acquisition shall not include any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Company or any successor or indebtedness of the
Company is cancelled or converted or a combination thereof; provided further that the Company shall not be deemed to be a party to any transaction or series of transactions contemplated by clause (B) of this Section 4(a) by virtue of the
Company consenting to such transaction or being a party to agreements that are ancillary to such transaction (such as stockholder agreements, registration rights agreements and similar agreements) and (ii) “Asset Transfer”
shall mean a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company. 
  

 5. 

 (b) In any Acquisition or Asset Transfer, if the consideration to be received is
securities of a corporation or other property other than cash, its value will be deemed its fair market value as determined in good faith by the Board on the date such determination is made. 
  

	 	5.	CONVERSION RIGHTS. 

  
 The holders of the Series Preferred shall have the following rights with respect to the conversion of the Series Preferred into shares of
Common Stock: 
  
 (a) Optional
Conversion. Subject to and in compliance with the provisions of this Section 5, any shares of Series Preferred may, at the option of the holder, be converted at any time into fully-paid and nonassessable shares of Common Stock. The number of
shares of Common Stock to which a holder of Series Preferred shall be entitled upon conversion shall be the product obtained by multiplying the “Series Preferred Conversion Rate” then in effect (determined as provided in Section 5(b)) by
the number of shares of Series Preferred being converted. 
  
 (b) Series Preferred Conversion Rate. The conversion rate in effect at any time for conversion of the Series Preferred (the “Series Preferred Conversion Rate”) shall be the
quotient obtained by dividing the Original Trigger Price (as hereinafter defined) of the Series Preferred by the “Series Preferred Conversion Price,” calculated as provided in Section 5(c). The “Original Trigger
Price” of the Series Preferred shall be five dollars and seventy-five cents ($5.75) per share (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to such shares after the filing date
hereof). 
  
 (c) Series Preferred
Conversion Price. The conversion price for the Series Preferred shall initially be the Original Trigger Price of the Series Preferred (the “Series Preferred Conversion Price”). Such initial Series Preferred Conversion
Price shall be adjusted from time to time in accordance with this Section 5. All references to the Series Preferred Conversion Price herein shall mean the Series Preferred Conversion Price as so adjusted. 
  
 (d) Mechanics of Conversion. Each holder of
Series Preferred who desires to convert the same into shares of Common Stock pursuant to this Section 5 shall surrender the certificate or certificates therefor, duly endorsed, at the office of the Company or any transfer agent for the Series
Preferred, and shall give written notice to the Company at such office that such holder elects to convert the same. Such notice shall state the number of shares of Series Preferred being converted. Thereupon, the Company shall promptly issue and
deliver at such office to such holder a certificate or certificates for the number of shares of Common Stock to which such holder is entitled and shall promptly pay (i) in cash or, to the extent sufficient funds are not then legally available
therefor, in Common Stock (at the Common Stock’s fair market value determined by the Board as of the date of such conversion), any declared and unpaid dividends on the shares of Series Preferred being converted and (ii) in cash (at the Common
Stock’s fair market value determined by the Board as of the date of conversion) the value of any fractional share of Common Stock otherwise issuable to any holder of Series Preferred. Such conversion shall be deemed to have been made at the
close of business on the date of such surrender of the certificates representing the shares of Series Preferred to be 

  

 6. 

 
converted, and the person entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder
of such shares of Common Stock on such date. 
  
 (e) Adjustment for Stock Splits and Combinations. If at any time or from time to time on or after the date that the first share of Series Preferred is issued (the “Original Issue Date”) the Company
effects a subdivision of the outstanding Common Stock without a corresponding subdivision of the Series Preferred, the Series Preferred Conversion Price in effect immediately before that subdivision shall be proportionately decreased. Conversely, if
at any time or from time to time after the Original Issue Date the Company combines the outstanding shares of Common Stock into a smaller number of shares without a corresponding combination of the Series Preferred, the Series Preferred Conversion
Price in effect immediately before the combination shall be proportionately increased. Any adjustment under this Section 5(e) shall become effective at the close of business on the date the subdivision or combination becomes effective. 

 
 (f) Adjustment for Common Stock Dividends and
Distributions. If at any time or from time to time on or after the Original Issue Date the Company pays to holders of Common Stock a dividend or other distribution in additional shares of Common Stock without a corresponding dividend or other
distribution to holders of Preferred Stock, the Series Preferred Conversion Price then in effect shall be decreased as of the time of such issuance, as provided below: 
  
 (i) The Series Preferred Conversion Price shall be adjusted by multiplying the Series Preferred
Conversion Price then in effect by a fraction equal to: 
  
 (A) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance, and 
  
 (B) the denominator of which is the total number of shares of Common Stock issued and outstanding
immediately prior to the time of such issuance plus the number of shares of Common Stock issuable in payment of such dividend or distribution; 
  
 (ii) If the Company fixes a record date to determine which holders of Common Stock are entitled to receive such dividend or other
distribution, the Series Preferred Conversion Price shall be fixed as of the close of business on such record date and the number of shares of Common Stock shall be calculated immediately prior to the close of business on such record date; and

  
 (iii) If such record date is fixed and
such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Series Preferred Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Series
Preferred Conversion Price shall be adjusted pursuant to this Section 5(f) to reflect the actual payment of such dividend or distribution. 
  
 (g) Adjustment for Reclassification, Exchange, Substitution, Reorganization, Merger or Consolidation. If at any time or from
time to time on or after the 

  

 7. 

 
Original Issue Date the Common Stock issuable upon the conversion of the Series Preferred is changed into the same or a different number of shares of any
class or classes of stock, whether by recapitalization, reclassification, merger, consolidation or otherwise (other than an Acquisition or Asset Transfer as defined in Section 4 or a subdivision or combination of shares or stock dividend provided
for elsewhere in this Section 5), in any such event each holder of Series Preferred shall then have the right to convert such stock into the kind and amount of stock and other securities and property receivable upon such recapitalization,
reclassification, merger, consolidation or other change by holders of the maximum number of shares of Common Stock into which such shares of Series Preferred could have been converted immediately prior to such recapitalization, reclassification,
merger, consolidation or change, all subject to further adjustment as provided herein or with respect to such other securities or property by the terms thereof. In any such case, appropriate adjustment shall be made in the application of the
provisions of this Section 5 with respect to the rights of the holders of Series Preferred after the capital reorganization to the end that the provisions of this Section 5 (including adjustment of the Series Preferred Conversion Price then in
effect and the number of shares issuable upon conversion of the Series Preferred) shall be applicable after that event and be as nearly equivalent as practicable. 
  
 (h) Sale of Shares Below Series Preferred Conversion Price. 
  
 (i) If at any time or from time to time on or after
the Original Issue Date the Company issues or sells, or is deemed by the express provisions of this Section 5(h) to have issued or sold, Additional Shares of Common Stock (as defined below), other than as provided in Section 5(e), 5(f) or 5(g)
above, for an Effective Price (as defined below) less than the then effective Series Preferred Conversion Price (a “Qualifying Dilutive Issuance”), then and in each such case, the then existing Series Preferred Conversion
Price shall be reduced, as of the opening of business on the date of such issue or sale, to a price determined by multiplying the Series Preferred Conversion Price in effect immediately prior to such issuance or sale by a fraction equal to:

  
 (A) the numerator of which shall be
(A) the number of shares of Common Stock deemed outstanding (as determined below) immediately prior to such issue or sale, plus (B) the number of shares of Common Stock which the Aggregate Consideration (as defined below) received or deemed received
by the Company for the total number of Additional Shares of Common Stock so issued would purchase at such then-existing Series Preferred Conversion Price, and 
  

(B) the denominator of which shall be the number of shares of Common Stock deemed outstanding (as determined below) immediately
prior to such issue or sale plus the total number of Additional Shares of Common Stock so issued. 
  
 For the purposes of the preceding sentence, the number of shares of Common Stock deemed to be outstanding as of a given date shall be the sum of (A) the
number of shares of Common Stock outstanding, (B) the number of shares of Common Stock into which the then outstanding shares of Series Preferred could be converted if fully converted on the day immediately preceding the given date, and (C) the
number of shares of Common Stock which are 

  

 8. 

 
issuable upon the exercise or conversion of all other rights, options and convertible securities outstanding on the day immediately preceding the given date.

  
 (ii) No adjustment shall be made to
the Series Preferred Conversion Price in an amount less than one cent per share. Any adjustment required by this Section 5(h) shall be rounded to the nearest one cent $0.01 per share. Any adjustment otherwise required by this Section 5(h) that is
not required to be made due to the preceding two sentences shall be included in any subsequent adjustment to the Series Preferred Conversion Price. 
  
 (iii) For the purpose of making any adjustment required under this Section 5(h), the aggregate consideration received by the
Company for any issue or sale of securities (the “Aggregate Consideration”) shall be defined as: (A) to the extent it consists of cash, be computed at the gross amount of cash received by the Company before deduction of any
underwriting or similar commissions, compensation or concessions paid or allowed by the Company in connection with such issue or sale and without deduction of any expenses payable by the Company, (B) to the extent it consists of property other than
cash, be computed at the fair value of that property as determined in good faith by the Board, and (C) if Additional Shares of Common Stock, Convertible Securities (as defined below) or rights or options to purchase either Additional Shares of
Common Stock or Convertible Securities are issued or sold together with other stock or securities or other assets of the Company for a consideration which covers both, be computed as the portion of the consideration so received that may be
reasonably determined in good faith by the Board to be allocable to such Additional Shares of Common Stock, Convertible Securities or rights or options. 
  
 (iv) For the purpose of the adjustment required under this Section 5(h), if the Company issues or sells (x) Preferred Stock or
other stock, options, warrants, purchase rights or other securities convertible into, Additional Shares of Common Stock (such convertible stock or securities being herein referred to as “Convertible Securities”) or (y) rights
or options for the purchase of Additional Shares of Common Stock or Convertible Securities and if the Effective Price of such Additional Shares of Common Stock is less than the Series Preferred Conversion Price, in each case the Company shall be
deemed to have issued at the time of the issuance of such rights or options or Convertible Securities the maximum number of Additional Shares of Common Stock issuable upon exercise or conversion thereof and to have received as consideration for the
issuance of such shares an amount equal to the total amount of the consideration, if any, received by the Company for the issuance of such rights or options or Convertible Securities plus: 
  
 (A) in the case of such rights or options, the
minimum amounts of consideration, if any, payable to the Company upon the exercise of such rights or options; and 
  
 (B) in the case of Convertible Securities, the minimum amounts of consideration, if any, payable to the Company upon the
conversion thereof (other than by cancellation of liabilities or obligations evidenced by such Convertible Securities); provided that if the minimum amounts of such consideration cannot be ascertained, but are a function of antidilution or
similar protective clauses, the Company shall be deemed to have received the minimum amounts of consideration without reference to such clauses. 
  

 9. 

 (C) If the minimum amount of consideration payable to the Company upon the
exercise or conversion of rights, options or Convertible Securities is reduced over time or on the occurrence or non-occurrence of specified events other than by reason of antidilution adjustments, the Effective Price shall be recalculated using the
figure to which such minimum amount of consideration is reduced; provided further, that if the minimum amount of consideration payable to the Company upon the exercise or conversion of such rights, options or Convertible Securities is
subsequently increased, the Effective Price shall be again recalculated using the increased minimum amount of consideration payable to the Company upon the exercise or conversion of such rights, options or Convertible Securities; and 
  
 (D) No further adjustment of the Series Preferred
Conversion Price, as adjusted upon the issuance of such rights, options or Convertible Securities, shall be made as a result of the actual issuance of Additional Shares of Common Stock or the exercise of any such rights or options or the conversion
of any such Convertible Securities. If any such rights or options or the conversion privilege represented by any such Convertible Securities shall expire without having been exercised, the Series Preferred Conversion Price as adjusted upon the
issuance of such rights, options or Convertible Securities shall be readjusted to the Series Preferred Conversion Price which would have been in effect had an adjustment been made on the basis that the only Additional Shares of Common Stock so
issued were the Additional Shares of Common Stock, if any, actually issued or sold on the exercise of such rights or options or rights of conversion of such Convertible Securities, and such Additional Shares of Common Stock, if any, were issued or
sold for the consideration actually received by the Company upon such exercise, plus the consideration, if any, actually received by the Company for the granting of all such rights or options, whether or not exercised, plus the consideration
received for issuing or selling the Convertible Securities actually converted, plus the consideration, if any, actually received by the Company (other than by cancellation of liabilities or obligations evidenced by such Convertible Securities) on
the conversion of such Convertible Securities, provided that such readjustment shall not apply to prior conversions of Series Preferred. 
  
 (v) For the purpose of making any adjustment to the Conversion Price of the Series Preferred required under this Section 5(h),
“Additional Shares of Common Stock” shall mean all shares of Common Stock issued by the Company or deemed to be issued pursuant to this Section 5(h) (including shares of Common Stock subsequently reacquired or retired by the Company),
other than: 
  
 (A) shares of Common
Stock issued upon conversion of the Series Preferred; 
  
 (B) up to 401,618 shares of Common Stock and/or options, warrants or other Common Stock purchase rights and the Common Stock issued pursuant to such options, warrants or other rights (as adjusted for any stock dividends,
combinations, splits, recapitalizations and the like after the filing date hereof) after the Original Issue Date to employees, officers or directors of, or consultants or advisors to, the Company or any subsidiary pursuant to stock purchase or stock
option plans or other arrangements that are approved by the Board or a compensation committee of the Board; provided, however, that such amount shall be increased to reflect any shares of Common Stock (i) not issued pursuant to the 

  

 10. 

 
rights, agreements, option or warrants (“Unexercised Options”) as a result of the termination of such Unexercised Options or (ii)
reacquired by the Company from employees, directors or consultants at cost (or the lesser of cost or fair market value) pursuant to agreements which permit the Company to repurchase such shares upon termination of services to the Company;

  
 (C) shares of Common Stock issued
pursuant to the exercise of Convertible Securities outstanding as of the Original Issue Date; 
  
 (D) shares of Common Stock or Convertible Securities issued pursuant to or in connection with (i) any equipment loan or leasing
arrangement, real property leasing arrangement or debt financing from a bank, or similar financial institution and/or (ii) strategic transactions involving the Company and other entities, including (a) acquisitions (of assets or equity interests),
mergers and/or consolidations; (b) joint ventures, manufacturing, marketing or distribution arrangements; or (c) technology transfer or development arrangements; provided that the issuances in reliance on this clause (D) shall not exceed
400,000 shares of Common Stock or Convertible Securities (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like after the filing date hereof) in any single transaction or series of related transactions unless such
transaction or series of related transaction has been approved by the Company’s Board, including the approval of the Preferred Director (in which case the limitation in this proviso shall not apply); 
  
 (E) shares of Common Stock or Convertible Securities
issued pursuant to Section 3.6 of that certain Stockholders Agreement by and among the Company and the stockholders identified therein to be entered into in February 2005, as such agreement may be amended from time to time; and 
  
 (F) any other shares of Common Stock or Convertible
Securities issued upon the express written consent of the holders of a majority of the then outstanding shares of Series Preferred, which consent must expressly acknowledge that such shares of Common Stock or Convertible Securities will not
constitute “Additional Shares of Common Stock” for purposes of Section 5(h). 
  
 References to Common Stock in the subsections of this clause (v) above shall mean all shares of Common Stock issued by the Company or deemed to be issued pursuant to this Section 5(h). The “Effective
Price” of Additional Shares of Common Stock shall mean the quotient determined by dividing the total number of Additional Shares of Common Stock issued or sold, or deemed to have been issued or sold by the Company under this Section
5(h), into the Aggregate Consideration received, or deemed to have been received by the Company for such issue under this Section 5(h), for such Additional Shares of Common Stock. In the event that the number of shares of Additional Shares of Common
Stock or the Effective Price cannot be ascertained at the time of issuance, such Additional Shares of Common Stock shall be deemed issued immediately upon the occurrence of the first event that makes such number of shares or the Effective Price, as
applicable, ascertainable. 
  
 (vi) In the
event that the Company issues or sells, or is deemed to have issued or sold, Additional shares of Common Stock in a Qualifying Dilutive Issuance (the “First Dilutive Issuance”), then in the event that the Company issues or
sells, or is deemed to have issued or sold, Additional Shares of Common Stock in a Qualifying Dilutive Issuance 

  

 11. 

 
other than the First Dilutive Issuance as a part of the same transaction or series of related transactions as the First Dilutive Issuance (a
“Subsequent Dilutive Issuance”), then and in each such case upon a Subsequent Dilutive Issuance the Series Preferred Conversion Price shall be reduced to the Series Preferred Conversion Price that would have been in effect
had the First Dilutive Issuance and each Subsequent Dilutive Issuance all occurred on the closing date of the First Dilutive Issuance. 
  
 (i) Certificate of Adjustment. In each case of an adjustment or readjustment of the Series Preferred Conversion Price for
the number of shares of Common Stock or other securities issuable upon conversion of the Series Preferred, if the Series Preferred is then convertible pursuant to this Section 5, the Company, at its expense, shall compute such adjustment or
readjustment in accordance with the provisions hereof and shall, upon request, prepare a certificate showing such adjustment or readjustment, and shall mail such certificate, by first class mail, postage prepaid, to each registered holder of Series
Preferred so requesting at the holder’s address as shown in the Company’s books. The certificate shall set forth such adjustment or readjustment, showing in detail the facts upon which such adjustment or readjustment is based, including a
statement of (i) the consideration received or deemed to be received by the Company for any Additional Shares of Common Stock issued or sold or deemed to have been issued or sold, (ii) the Series Preferred Conversion Price at the time in effect,
(iii) the number of Additional Shares of Common Stock and (iv) the type and amount, if any, of other property which at the time would be received upon conversion of the Series Preferred. Failure to request or provide such notice shall have no effect
on any such adjustment. 
  
 (j) Notices
of Record Date. Upon (i) any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, or (ii) any Acquisition
(as defined in Section 4) or other capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company, any merger or consolidation of the Company with or into any other corporation, or any Asset
Transfer (as defined in Section 4), or any voluntary or involuntary dissolution, liquidation or winding up of the Company, the Company shall mail to each holder of Series Preferred at least ten (10) days prior to (x) the record date, if any,
specified therein; or (y) if no record date is specified, the date upon which such action is to take effect (or, in either case, such shorter period approved by the holders of a majority of the outstanding Series Preferred) a notice specifying (A)
the date on which any such record is to be taken for the purpose of such dividend or distribution and a description of such dividend or distribution, (B) the date on which any such Acquisition, reorganization, reclassification, transfer,
consolidation, merger, Asset Transfer, dissolution, liquidation or winding up is expected to become effective, and (C) the date, if any, that is to be fixed as to when the holders of record of Common Stock (or other securities) shall be entitled to
exchange their shares of Common Stock (or other securities) for securities or other property deliverable upon such Acquisition, reorganization, reclassification, transfer, consolidation, merger, Asset Transfer, dissolution, liquidation or winding
up. 
  

 12. 

 (k) Automatic Conversion. 
  
 (i) Each share of Series Preferred shall
automatically be converted into shares of Common Stock, based on the then-effective Series Preferred Conversion Price, (A) at any time upon the affirmative election of the holders of a majority of the outstanding shares of the Series Preferred, or
(B) immediately upon the closing of a firmly underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, covering the offer and sale of Common Stock for the account of the Company in
which (i) the per share price is at least $17.25 (as adjusted for stock splits, dividends, recapitalizations and the like after the filing date hereof), and (ii) the gross cash proceeds to the Company (before underwriting discounts, commissions and
fees) are at least $20,000,000. Upon such automatic conversion, any declared and unpaid dividends shall be paid in accordance with the provisions of Section 5(d). 
  
 (ii) Upon the occurrence of either of the events specified in Section 5(k)(i) above, the outstanding
shares of Series Preferred shall be converted automatically without any further action by the holders of such shares and whether or not the certificates representing such shares are surrendered to the Company or its transfer agent; provided,
however, that the Company shall not be obligated to issue certificates evidencing the shares of Common Stock issuable upon such conversion unless the certificates evidencing such shares of Series Preferred are either delivered to the Company or
its transfer agent as provided below, or the holder notifies the Company or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss
incurred by it in connection with such certificates. Upon the occurrence of such automatic conversion of the Series Preferred, the holders of Series Preferred shall surrender the certificates representing such shares at the office of the Company or
any transfer agent for the Series Preferred. Thereupon, there shall be issued and delivered to such holder promptly at such office and in its name as shown on such surrendered certificate or certificates, a certificate or certificates for the number
of shares of Common Stock into which the shares of Series Preferred surrendered were convertible on the date on which such automatic conversion occurred, and any declared and unpaid dividends shall be paid in accordance with the provisions of
Section 5(d). 
  
 (l) Fractional
Shares. No fractional shares of Common Stock shall be issued upon conversion of Series Preferred. All shares of Common Stock (including fractions thereof) issuable upon conversion of more than one share of Series Preferred by a holder thereof
shall be aggregated for purposes of determining whether the conversion would result in the issuance of any fractional share. If, after the aforementioned aggregation, the conversion would result in the issuance of any fractional share, the Company
shall, in lieu of issuing any fractional share, pay cash equal to the product of such fraction multiplied by the fair market value of one share of Common Stock (as determined by the Board) on the date of conversion. 
  
 (m) Reservation of Stock Issuable Upon
Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the shares of the Series Preferred, such number of its shares
of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of the Series Preferred. If at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the
conversion 

  

 13. 

 
of all then outstanding shares of the Series Preferred, the Company will take such corporate action as may be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose. 
  
 (n) Notices. Any notice required by the provisions of this Section 5 shall be in writing and shall be deemed effectively
given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (iii) five (5) days after having
been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with verification of receipt. All notices shall be
addressed to each holder of record at the address of such holder appearing on the books of the Company. 
  

	 	6.	NO REISSUANCE OF SERIES PREFERRED. 

  
 No shares or shares of Series Preferred acquired by the Company by reason of
redemption, purchase, conversion or otherwise shall be reissued. 
  
 V. 
  
 A. The liability of the directors of
the Company for monetary damages shall be eliminated to the fullest extent under applicable law. 
  
 B. The Company is authorized to provide indemnification of agents (as defined in Section 317 of the CGCL) for breach of duty to the Company and its
stockholders through bylaw provisions or through agreements with the agents, or through stockholder resolutions, or otherwise, in excess of the indemnification otherwise permitted by Section 317 of the CGCL, subject, at any time or times that the
Company is subject to Section 2115(b) of the CGCL, to the limits on such excess indemnification set forth in Section 204 of the CGCL. 
  
 C. Any repeal or modification of this Article V shall only be prospective and shall not affect the rights under this Article V in effect at the
time of the alleged occurrence of any action or omission to act giving rise to liability. 
  
 D. In the event that a member of the Board who is also a partner, officer, director or employee of an entity that is a direct or indirect holder of Preferred Stock or Common Stock or an employee of an entity
that manages such an entity (each, a “Business Entity”) acquires knowledge of a potential transaction or other matter in such individual’s capacity as a partner, officer or director or employee of such Business Entity or
the manager or general partner of such Business Entity (and other than primarily in connection with such individual’s service as a member of the Board) and that may be an opportunity of interest for both the Company and such Business Entity (a
“Corporate Opportunity”), then the Company (i) renounces any expectancy that such director or Business Entity offer an opportunity to participate in such Corporate Opportunity to the Company and (ii) to the fullest extent
permitted by law, waives any claim that such opportunity constituted a Corporate Opportunity that should have been presented by such director or Business Entity to the Company or any of its affiliates; provided, however, that such
director acts in good faith. 
  

 14. 

  
 VI. 
  
 For the management of the business and for the conduct of the affairs of the
Company, and in further definition, limitation and regulation of the powers of the Company, of its directors and of its stockholders or any class thereof, as the case may be, it is further provided that: 
  
 A. The management of the business and the conduct of the affairs of
the Company shall be vested in its Board. The number of directors which shall constitute the whole Board shall be fixed by the Board in the manner provided in the Bylaws, subject to any restrictions which may be set forth in this Certificate of
Incorporation. 
  
 B. The Board is expressly empowered to
adopt, amend or repeal the Bylaws of the Company. The stockholders shall also have the power to adopt, amend or repeal the Bylaws of the Company; provided however, that, in addition to any vote of the holders of any class or series of stock
of the Company required by law or by this Certificate of Incorporation, the affirmative vote of the holders of at least a majority of the voting power of all of the then-outstanding shares of the capital stock of the Company entitled to vote
generally in the election of directors, voting together as a single class, shall be required to adopt, amend or repeal any provision of the Bylaws of the Company. 
  
 C. The directors of the Company need not be elected by written ballot unless the Bylaws so provide. 
  
 D. Prior to the issuance of any capital stock of the Company, the
Company reserves the right to amend the provisions in this Certificate of Incorporation and in any certificate amendatory hereof in the manner now or hereafter prescribed by law, and all rights conferred on stockholders or others hereunder or
thereunder are granted subject to such reservation. 
  
 VII.

  
 The name and the mailing address of the Sole Incorporator
is as follows: 
  
 Christopher DeWolfe 
 c/o MySpace, Inc. 
 1333 Second Street

 Santa Monica, CA 90401 
  

 15. 

 IN WITNESS WHEREOF, this Certificate
has been subscribed this 10th day of February 2005 by the undersigned who affirms that the statements made herein are true and correct. 
  

	
	
	/s/ Christopher DeWolfe
	Christopher DeWolfe
	Sole Incorporator

  

 16. 
 CERTIFICATE OF INCORPORATIONPromissory Note

 Exhibit 10.6 
  
 MYSPACE, INC. 
  
 PROMISSORY NOTE DUE FEBRUARY 11, 2008 
  

			
	 $1,500,000.00
	 	 February 11, 2005
 Los Angeles, California

  
 FOR VALUE RECEIVED,
MYSPACE, INC., a Delaware corporation (“Maker”), unconditionally promises to pay to the order of Social Labs, LLC. (“Payee”), in the manner and at the place hereinafter provided, the principal amount of
ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00) on February 11, 2008. 
  
 Maker also promises to pay interest on the unpaid principal amount hereof from the date hereof until paid in full at a rate of interest of 8% per annum, provided that any principal amount not paid when due and,
to the extent permitted by applicable law, any interest not paid when due, in each case whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (both before as well as after judgment), shall bear interest
payable upon demand at a rate that is 4.00% per annum in excess of the rate of interest otherwise payable under this Note. Interest on this Note shall be payable in arrears on the last day of each month, commencing on February 28, 2005, upon any
prepayment of this Note (to the extent accrued on the amount being prepaid) and at maturity. All computations of interest shall be made by Payee on the basis of a 360 day year, for the actual number of days elapsed in the relevant period (including
the first day but excluding the last day). In no event shall the interest rate payable on this Note exceed the maximum rate of interest permitted to be charged under applicable law. 
  
 1. Payments. All payments of principal and interest in respect of this Note shall be made in lawful
money of the United States of America in same day funds to the following wire account: City National Bank, 100 Pacifica – Suite 100, Irvine, CA 92618, Account Name: Intermix Media, Inc., ABA/Routing No. 122016066, Acct. No. 402130954, or at
such other place as Payee may direct. Whenever any payment on this Note is stated to be due on a day that is not a Business Day, such payment shall instead be made on the next Business Day, and such extension of time shall be included in the
computation of interest payable on this Note. Each payment made hereunder shall be credited to principal, and interest shall thereupon cease to accrue upon the principal so credited. 
  
 2. Prepayments. Maker shall have the right at any time and from time to time to prepay the principal of this
Note in whole or in part, without premium or penalty, upon at least two (2) Business Days prior written notice; provided that each such prepayment shall be in a minimum amount of $100,000 and integral multiples of $100,000 in excess of that
amount. Maker shall make a mandatory prepayment of this Note with all of (i) the proceeds of the issuance of any securities (debt or equity) or (ii) the proceeds of sales of any assets of Maker outside the ordinary course of business;
provided that, notwithstanding the foregoing, Maker shall not be required to make a mandatory prepayment of this Note pursuant to clause (i) above if (a) the aggregate proceeds from such financing transaction (and any related financing
transactions) are less than $3,000,000 or (b) if such financing transaction is an equipment 

  

 
financing or leasing transaction. Any prepayment hereunder shall be accompanied by interest on the principal amount of the Note being prepaid to the date of
prepayment. 
  
 3. Covenants. Maker covenants and
agrees that until this Note is paid in full it will: 
  
 (a) promptly after the occurrence of an Event of Default or event, act or condition that, with notice or lapse of time or both, would constitute an Event of Default, provide Payee with a certificate of the chief executive officer or chief
financial officer of Maker specifying the nature thereof and Maker’s proposed response thereto; 
  
 (b) preserve and maintain its corporate existence and all of its rights, privileges and franchises necessary or desirable in the normal
conduct of its business, and conduct its business in an orderly, efficient and regular manner; 
  
 (c) comply with requirements of all applicable laws, rules, regulations, and orders of any governmental authority, a breach of which would
materially adversely affect the consolidated financial condition of Maker; 
  
 (d) not declare or pay any dividends or make any distribution to holders of its capital stock (other than dividends or distributions payable in Common Stock of Maker) or purchase, redeem or otherwise acquire or retire
for value any of its capital stock or any warrants, rights or options to purchase or acquire any shares of its capital stock, other than acquisition of Common Stock by Maker pursuant to agreements which permit Maker to repurchase such shares at cost
(or the lesser of cost or fair market value) upon termination of services to Maker; and 
  
 (e) not create, assume, guaranty, incur or otherwise become or remain directly or indirectly liable with respect to any indebtedness for
borrowed money except (i) indebtedness outstanding on the date hereof, (ii) indebtedness junior to the indebtedness evidenced by this Promissory Note, provided that any new debtholder of Maker executes a subordination agreement in form and
substance satisfactory to Payee (as determined in Payee’s sole and absolute discretion); and (iii) equipment financings, equipment leases or other purchase money indebtedness, in each case not to exceed $5,000,000 in the aggregate.

  
 4. Events of Default. The occurrence of
any of the following events shall constitute an “Event of Default”: 
  
 (a) failure of Maker to pay (i) any principal, under this Note when due, whether at stated maturity, by required prepayment, acceleration,
or otherwise, or (ii) any interest or other amount due under this Note, in each case within three Business Days after the date due; or 
  
 (b) failure of Maker to pay, or the default in the payment of, any amount due under or in respect of any promissory note, indenture or
other agreement or instrument relating to any indebtedness owing by Maker, to which Maker is a party or by which Maker or any of its property is bound under which amounts outstanding exceed $100,000 beyond any grace period provided; or the
occurrence of any other event or circumstance that, with notice or lapse of time or both, would permit acceleration of such indebtedness; or 
  

 2 

 (c) failure of Maker to perform or observe any other term, covenant or agreement to be
performed or observed by it pursuant to this Note; or 
  
 (d) any order, judgment or decree shall be entered against Maker decreeing the dissolution or split-up of Maker; or 
  
 (e) suspension of the usual business activities of Maker or the complete or partial liquidation of Maker’s business; or 

 
 (f) there shall occur a Liquidation Event; or 

 
 (g) (i) a court having jurisdiction in the premises shall
enter a decree or order for relief in respect of Maker or any of its material subsidiaries in an involuntary case under Title 11 of the United States Code entitled “Bankruptcy” (as now and hereinafter in effect, or any successor thereto,
the “Bankruptcy Code”) or any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal or state
law; or (ii) an involuntary case shall be commenced against Maker or any of its material subsidiaries under any applicable bankruptcy, insolvency or any other similar law now or hereafter in effect; or a decree or order of a court having
jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Maker or any of its material subsidiaries or over all or a substantial part of its property
shall have been entered; or the involuntary appointment of an interim receiver, trustee or other custodian of Maker or any of its material subsidiaries for all or a substantial part of its property shall have occurred; or a warrant of attachment,
execution or similar process shall have been issued against any substantial part of the property of Maker or any of its material subsidiaries, and, in the case of any event described in this clause (ii), such event shall have continued for 60 days
unless dismissed, bonded or discharged; or 
  
 (h) an order for relief shall be entered with respect to Maker or any of its material subsidiaries, or Maker or any of its material subsidiaries shall commence a voluntary case under the Bankruptcy Code or any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the
appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Maker or any of its material subsidiaries shall make an assignment for the benefit of creditors; or Maker or any of its
material subsidiaries shall be unable or fail, or shall admit in writing its inability, to pay its debts as such debts become due; or the Board of Directors of Maker or any of its material subsidiaries (or any committee thereof) shall adopt any
resolution or otherwise authorize action to approve any of the foregoing; or 
  
 (i) the making or filing of any money judgment, writ or similar process in excess of Two Hundred Fifty Thousand Dollars ($250,000) against Maker or any of the property or other assets of Maker which shall remain
unsatisfied, unvacated, unhanded or unstayed until the date that is the earlier to occur of sixty (60) days after such judgment, writ or similar process is entered and five (5) days prior to the date of any proposed sale thereunder; or 

 

 3 

 (j) Maker shall challenge, or institute any proceedings to challenge, the validity,
binding effect or enforceability of this Note or any endorsement of this Note. 
  
 5. Remedies. Upon the occurrence of any Event of Default specified in Section 4(f) or 4(g) above, the principal amount of this Note together with accrued interest thereon shall
become immediately due and payable, without presentment, demand, notice, protest or other requirements of any kind (all of which are hereby expressly waived by Maker). Upon the occurrence and during the continuance of any other Event of Default
Payee may, by written notice to Maker, declare the principal amount of this Note together with accrued interest thereon to be due and payable, and the principal amount of this Note together with such interest shall thereupon immediately become due
and payable without presentment, further notice, protest or other requirements of any kind (all of which are hereby expressly waived by Maker). 
  
 6. Definitions. The following terms used in this Note shall have the following meanings (and any of such terms may, unless the
context otherwise requires, be used in the singular or the plural depending on the reference): 
  
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling or controlled
by or under or indirect common control with a specified Person. For the purpose of this definition, control when used with respect to any specified Person means the power to direct the management and policies (investment or otherwise) of such
Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms controlling and controlled have meanings correlative to the foregoing. 
  
 “Business Day” means any day other
than a Saturday, Sunday or legal holiday under the laws of the State of California or any other day on which banking institutions located in such state are authorized or required by law or other governmental action to close. 
  
 “Liquidation Event” means the
occurrence of a “Liquidation Event” as defined in Maker’s Certificate of Incorporation, as the same may be amended from time to time. 
  
 “Common Stock” means Maker’s common stock. 
  
 “Event of Default” means any of the events set forth in Section 4. 
  
 “Person” means any individual,
partnership, joint venture, firm, corporation, association, bank, trust or other enterprise, whether or not a legal entity, or any government or political subdivision or any agency, department or instrumentality thereof. 
  
 7. Miscellaneous. 
  
 (a) All notices and other communications provided for
hereunder shall be in writing (including telegraphic, telex, telecopier, or cable communication) and mailed, telegraphed, telexed, telecopied, cabled or delivered as follows: if to Maker, at its address specified opposite its signature below; and if
to Payee, at 6060 Center Drive, Suite 300, Los Angeles, CA 90045, Attention: Chris Lipp, General Counsel; or in each case at such other 

  

 4 

 
address as shall be designated by Payee or Maker. All such notices and communications shall, when mailed, telegraphed, telexed, telecopied or cabled or sent
by over-night courier, be effective when deposited in the mails, delivered to the telegraph company, cable company or overnight courier, as the case may be, or sent by telex or telecopier. 
  
 (b) Maker agrees to indemnify Payee against any losses,
claims, damages and liabilities and related expenses, including counsel fees and expenses, incurred by Payee arising out of or in connection with or as a result of the transactions contemplated by this Note. In particular, Maker promises to pay all
costs and expenses, including reasonable attorneys’ fees, incurred in connection with the collection and enforcement of this Note. In addition, Maker agrees to pay, and to save Payee harmless from all liability for, any stamp or other
documentary taxes which may be payable in connection with Maker’s execution or delivery of this Note. 
  
 (c) In addition to and not in limitation of any rights of set off that Payee or any other holder of this Note may now or hereafter have
under applicable law, Payee or such other holder of this Note, upon the occurrence of any Event of Default, is hereby authorized at any time or from time to time, without notice of any kind to Maker or to any other Person, any such notice being
hereby expressly waived, to set off and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final) and any other indebtedness at any time held or owing by Payee or such other holder (including without
limitation by branches and agencies of Payee or such other holder wherever located) to or for the credit or the account of Maker against and on account of the obligations and liabilities of Maker to Payee under this Note and all other claims of any
nature or description arising out of or connected with this Note, irrespective of whether or not Payee shall have made any demand hereunder and although said obligations, liabilities or claims, or any of them, shall be contingent or unmatured.

  
 (d) No failure or delay on the part of Payee
or any other holder of this Note to exercise any right, power or privilege under this Note and no course of dealing between Maker and Payee shall impair such right, power or privilege or operate as a waiver of any default or an acquiescence therein,
nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies expressly provided in this Note are
cumulative to, and not exclusive of, any rights or remedies that Payee would otherwise have. No notice to or demand on Maker in any case shall entitle Maker to any other or further notice or demand in similar or other circumstances or constitute a
waiver of the right of Payee to any other or further action in any circumstances without notice or demand. 
  
 (e) Maker and any endorser of this Note hereby consent to renewals and extensions of time at or after the maturity hereof, without notice,
and hereby waive diligence, presentment, protest, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand hereunder. 
  
 (f) If any provision in or obligation under this Note shall
be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or
impaired thereby. 
  

 5 

 (g) THIS NOTE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPALS. 
  
 (h) ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST MAKER ARISING OUT OF OR RELATING TO THIS NOTE MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT
OR COMPETENT JURISDICTION IN THE STATE OF CALIFORNIA, AND BY EXECUTION AND DELIVERY OF THIS NOTE MAKER ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND
WAIVES ANY DEFENSE OF FORUM NON CONVENIENS AND IRREVOCABLY AGREES TO BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS NOTE. Maker further irrevocably consents to the service of process out of any of the aforementioned courts in
any action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to Maker at its address set forth below it signature hereto, such service to become effective seven days after such mailing. Nothing herein
shall affect the right of Payee or any holder of this Note to serve process in any other manner permitted by law or to commence legal proceedings or otherwise proceed against Maker in any other jurisdiction. Maker hereby irrevocably waives any
objection which it may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Note brought in the courts referred to above and further irrevocably waives and agrees not
to plead or claim in any such court that any such action or proceeding brought in any such court has been brought in an inconvenient forum. 
  
 (i) MAKER AND, BY THEIR ACCEPTANCE OF THIS NOTE, PAYEE AND ANY SUBSEQUENT HOLDER OF THIS NOTE, HEREBY IRREVOCABLY AGREE TO WAIVE THEIR
RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OR ACTION BASED UPON OR ARISING OUT OF THIS NOTE OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS NOTE AND THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. The
scope of this waiver is intended to be all-encompassing of any and all disputes that may be filed in any court and that relate to the subject matter of this transaction, including without limitation contract claims, tort claims, breach of duty
claims and all other common law and statutory claims. Maker and, by their acceptance of this Note, Payee and any subsequent holder of this Note, each (i) acknowledges that this waiver is a material inducement to enter into a business relationship,
that each has already relied on this waiver in entering into this relationship, and that each will continue to reply on this waiver in their related future dealings and (ii) further warrants and represents that each has reviewed this waiver with its
legal counsel and that each knowingly and voluntarily waives its jury trial rights following consultation with legal counsel. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY
TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS OF THIS NOTE. In the event of litigation, this provision may be filed as a written consent to a trial by the court. 
  

 6 

 (j) Maker hereby waives the benefit of any statute or rule of law or judicial decision,
including without limitation California Civil Code § 1654, which would otherwise require that the provisions of this Note be construed or interpreted most strongly against the party responsible for the drafting thereof. 
  
 (k) Maker acknowledges and agrees that the indebtedness
evidence by this Note shall rank pari passu or senior in right of payment and priority to all other indebtedness of Maker and shall constitute senior indebtedness to all subordinated indebtedness of Maker. 
  

 7 

 IN WITNESS WHEREOF, Maker has caused this Note to be execute and delivered by its duly authorized
officer as of the day and year and at the place first above written. 
  

			
	 MYSPACE, INC.

		
	By:	 	/s/ Christopher DeWolfe
	 Name:
	 	Christopher DeWolfe
	 Title:
	 	President

  

			
	Address:	 	1333 Second Street
	 	 	Santa Monica, CA 90401

  

 PROMISSORY NOTE

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