Document:

Exhibit 10.3

 

AMENDED AND RESTATED PLEDGE AND SECURITY
AGREEMENT

 

AMENDED AND RESTATED PLEDGE AND SECURITY
AGREEMENT, dated as of July 19, 2012 (this "Agreement"), made by VRINGO, INC., a Delaware corporation
(the "Company"), and each of its existing "Subsidiaries" (as defined in the Note defined below) as named
on the signature pages hereto (collectively, the "Existing Subsidiaries") and each other Subsidiary of the Company
hereafter becoming party hereto (each individually referred to herein as a "New Subsidiary" and collectively as
the "New Subsidiaries," together with the Company and the Existing Subsidiaries, each a "Grantor"
and, collectively, the "Grantors"), in favor of Hudson Bay Master Fund Ltd. (the "Buyer").

 

WITNESSETH:

 

WHEREAS, Innovate/Protect, Inc., a Delaware
corporation formerly known as Labrador Search Corporation ("I/P"), and the Buyer are parties to the Subscription
Agreement, dated as of June 22, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the "Subscription
Agreement"), pursuant to which I/P sold, and the Buyer purchased the Senior Secured Note in the original principal amount
of $3,200,000 (as such note may be amended, restated, replaced or otherwise modified from time to time in accordance with the terms
thereof, the "Note");

 

WHEREAS, pursuant
to a Pledge and Security Agreement dated as of June 22, 2011 (as amended or supplemented prior to the date hereof, the "Existing
Security Agreement"), I/P, I/P Engine, Inc., a Virginia corporation formerly known as Smart Search Labs, Inc. ("I/P
Engine"), I/P Labs, Inc., a Delaware corporation formerly known as Scottish Terrier Capital, Inc. ("I/P Labs"
and together with I/P, I/P Engine, each individually referred to herein as an "Existing Grantor" and collectively
as the "Existing Grantors"), granted liens and security interests in the collateral
described therein to the Buyer as security for the Existing Grantors' obligations under, among other things, the Subscription Agreement,
the Note issued pursuant thereto and the other "Transaction Documents" (as defined in the Subscription Agreement),
and has agreed to continue to secure certain of the Existing Grantor's obligations thereunder pursuant to this amended and restated
Agreement;

 

WHEREAS, the Company, I/P and VIP Merger Sub,
Inc. ("Merger Sub"), a wholly-owned subsidiary of the Company, have entered into that certain Agreement and Plan
of Merger, dated as of March 12, 2012 (the "Merger Agreement") pursuant to which, among other things, I/P shall
be merged with and into Merger Sub (the "Merger Transaction");

 

WHEREAS, the Company, as part of the Merger
Transaction, has agreed to grant liens on and security interest in the collateral described hereunder, and the Company has agreed
to cause Vringo, Ltd., an Israeli corporation ("Vringo Israel"), and Vringo Israel has agreed, to grant liens
on and security interest in the collateral described hereunder;

 

    	 

    	 

    

 

WHEREAS, it is a condition precedent to the
Buyer entering into certain transactions more fully described in the Merger Agreement that (i) the Existing Grantors confirm, ratify
and reaffirm the liens on and security interests granted pursuant to the Existing Security Agreement in all personal property of
each of the Existing Grantors to secure the obligations under the Note, and the other Note Transaction Documents, and (ii) the
Company and each of the New Subsidiaries (each individually referred to herein as a "New Grantor" and collectively
as the "New Grantors"), grant to the Buyer a security interest in all personal property of each of the New Subsidiaries
to secure I/P's obligations under the Note and the other Note Transaction Documents, and that each future Subsidiary of the Company
becomes a party to this Agreement;

 

WHEREAS, each of the Existing Subsidiaries,
the Company and each other Grantor are or will be mutually dependent on each other in the conduct of their respective businesses
as an integrated operation, with the credit needed from time to time by one often being provided through financing obtained by
the other and the ability to obtain such financing being dependent on the successful operations of each of the Existing Subsidiaries,
the Company and each other Grantor and the Note; and

 

WHEREAS, the Company and each other Grantor
has determined that the execution, delivery and performance of this Agreement directly benefits, and are in the best interest of
the Company and each other Grantor; and

 

NOW, THEREFORE, in consideration of the premises
and the agreements herein and in order to induce the Buyer to perform under the Debt Assumption Agreement, each Grantor agrees
with the Buyer as follows:

 

Section
1.          Definitions.

 

(a)          Reference
is hereby made to the Note for a statement of the terms thereof. All terms used in this Agreement and the recitals hereto which
are defined in the Note or in Articles 8 or 9 of the Uniform Commercial Code (the "Code") as in effect from time
to time in the State of New York, and which are not otherwise defined herein shall have the same meanings herein as set forth therein;
provided that terms used herein which are defined in the Code as in effect in the State of New York on the date hereof shall
continue to have the same meaning notwithstanding any replacement or amendment of such statute except as the Buyer may otherwise
determine.

 

(b)          The
following terms shall have the respective meanings provided for in the Code: "Accounts", "Cash Proceeds", "Chattel
Paper", "Commercial Tort Claim", "Commodity Account", "Commodity Contracts", "Deposit Account",
"Documents", "Equipment", "Fixtures", "General Intangibles", "Goods", "Instruments",
"Inventory", "Investment Property", "Letter-of-Credit Rights", "Noncash Proceeds", "Payment
Intangibles", "Proceeds", "Promissory Notes", "Security", "Record", "Security
Account", "Software", and "Supporting Obligations".

 

(c)          As
used in this Agreement, the following terms shall have the respective meanings indicated below, such meanings to be applicable
equally to both the singular and plural forms of such terms:

 

"Collateral" shall have the
meaning set forth in Section 2 hereof.

 

    	-2-

    	 

    

 

"Copyright Licenses" means
all licenses, contracts or other agreements, whether written or oral, naming any Grantor as licensee or licensor and providing
for the grant of any right to use or sell any works covered by any copyright (including, without limitation, all Copyright Licenses
set forth in Schedule II hereto).

 

"Copyrights" means all domestic
and foreign copyrights, whether registered or not, including, without limitation, all copyright rights throughout the universe
(whether now or hereafter arising) in any and all media (whether now or hereafter developed), in and to all original works of authorship
fixed in any tangible medium of expression, acquired or used by any Grantor (including, without limitation, all copyrights described
in Schedule II hereto), all applications, registrations and recordings thereof (including, without limitation, applications,
registrations and recordings in the United States Copyright Office or in any similar office or agency of the United States or any
other country or any political subdivision thereof), and all reissues, divisions, continuations, continuations in part and extensions
or renewals thereof.

 

"Event of Default"
means (i) any defined event of default under any one or more of the Note Transaction Documents, in each instance, after giving
effect to any notice, grace, or cure periods provided for in the applicable Note Transaction Document, (ii) the failure by the
Company to pay any amounts when due under the Note or any other Note Transaction Document, or (iii) the breach of any representation,
warranty or covenant by any Grantor under this Agreement.

 

"Existing Issuer" has the
meaning specified therefor in the definition of the term "Pledged Shares".

 

"Guaranty" means the Amended
and Restated Guaranty, dated as of the date hereof, by the Existing Subsidiaries in favor of the Buyer.

 

"Insolvency Proceeding" means
any proceeding commenced by or against any Person under any provision of the Bankruptcy Code (Chapter 11 of Title 11 of the
United States Code) or under any other bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal
moratoria, compositions, or extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other similar
relief.

 

"Intellectual Property" means
the Copyrights, Trademarks and Patents.

 

"Licenses" means the Copyright
Licenses, the Trademark Licenses and the Patent Licenses.

 

"Lien" means any mortgage,
deed of trust, pledge, lien (statutory or otherwise), security interest, charge or other encumbrance or security or preferential
arrangement of any nature, including, without limitation, any conditional sale or title retention arrangement, any capitalized
lease and any assignment, deposit arrangement or financing lease intended as, or having the effect of, security.

 

"Obligations" shall have
the meaning set forth in Section 3 hereof.

 

    	-3-

    	 

    

 

"Patent Licenses" means all
licenses, contracts or other agreements, whether written or oral, naming any Grantor as licensee or licensor and providing for
the grant of any right to manufacture, use or sell any invention covered by any Patent (including, without limitation, all Patent
Licenses set forth in Schedule II hereto).

 

"Patents" means all domestic
and foreign letters patent, design patents, utility patents, industrial designs, inventions, trade secrets, ideas, concepts, methods,
techniques, processes, proprietary information, technology, know-how, formulae, rights of publicity and other general intangibles
of like nature, of any Grantor, now existing or hereafter acquired (including, without limitation, all domestic and foreign letters
patent, design patents, utility patents, industrial designs, inventions, trade secrets, ideas, concepts, methods, techniques, processes,
proprietary information, technology, know-how and formulae described in Schedule II hereto), all applications, registrations
and recordings thereof (including, without limitation, applications, registrations and recordings in the United States Patent and
Trademark Office, or in any similar office or agency of the United States or any other country or any political subdivision thereof),
and all reissues, divisions, continuations, continuations in part and extensions or renewals thereof.

 

"Permitted Liens" shall have
the meaning as ascribed to such term in the Note.

 

"Pledged Debt" means the
indebtedness described in Schedule VII hereto and all indebtedness from time to time owned or acquired by a Grantor, the promissory
notes and other Instruments evidencing any or all of such indebtedness, and all interest, cash, Instruments, Investment Property,
financial assets, securities, capital stock, other equity interests, stock options and commodity contracts, notes, debentures,
bonds, promissory notes or other evidences of indebtedness and all other property from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such indebtedness.

 

"Pledged Interests" means,
collectively, (a) the Pledged Debt, (b) the Pledged Shares and (c) all security entitlements in any and all of the foregoing.

 

"Pledged Issuer" has the
meaning specified therefor in the definition of the term "Pledged Shares".

 

"Pledged Shares" means (a)
the shares of capital stock or other equity interests described in Schedule VIII hereto, whether or not evidenced or represented
by any stock certificate, certificated security or other Instrument, issued by the Persons described in such Schedule VIII (the
"Existing Issuers"), (b) the shares of capital stock or other equity interests at any time and from time to time
acquired by a Grantor of any and all Persons now or hereafter existing (such Persons, together with the Existing Issuers, being
hereinafter referred to collectively as the "Pledged Issuers" and each individually as a "Pledged Issuer"),
whether or not evidenced or represented by any stock certificate, certificated security or other Instrument, and (c) the certificates
representing such shares of capital stock, all options and other rights, contractual or otherwise, in respect thereof and all dividends,
distributions, cash, Instruments, Investment Property, financial assets, securities, capital stock, other equity interests, stock
options and commodity contracts, notes, debentures, bonds, promissory notes or other evidences of indebtedness and all other property
(including, without limitation, any stock dividend and any distribution in connection with a stock split) from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all of such capital stock.

 

    	-4-

    	 

    

 

"Trademark Licenses" means
all licenses, contracts or other agreements, whether written or oral, naming any Grantor as licensor or licensee and providing
for the grant of any right concerning any Trademark, together with any goodwill connected with and symbolized by any such trademark
licenses, contracts or agreements and the right to prepare for sale or lease and sell or lease any and all Inventory now or hereafter
owned by any Grantor and now or hereafter covered by such licenses (including, without limitation, all Trademark Licenses described
in Schedule II hereto).

 

"Trademarks" means all domestic
and foreign trademarks, service marks, collective marks, certification marks, trade names, business names, d/b/a's, Internet domain
names, trade styles, designs, logos and other source or business identifiers and all general intangibles of like nature, now or
hereafter owned, adopted, acquired or used by any Grantor (including, without limitation, all domestic and foreign trademarks,
service marks, collective marks, certification marks, trade names, business names, d/b/a's, Internet domain names, trade styles,
designs, logos and other source or business identifiers described in Schedule II hereto), all applications, registrations
and recordings thereof (including, without limitation, applications, registrations and recordings in the United States Patent and
Trademark Office or in any similar office or agency of the United States, any state thereof or any other country or any political
subdivision thereof), and all reissues, extensions or renewals thereof, together with all goodwill of the business symbolized by
such marks and all customer lists, formulae and other Records of any Grantor relating to the distribution of products and services
in connection with which any of such marks are used.

 

Section
2.          Grant of Security Interest. As collateral security
for all of the Obligations, each New Grantor hereby pledges and assigns to the Buyer and grants to the Buyer a continuing security
interest in, all personal property of such Grantor, wherever located and whether now or hereafter existing and whether now owned
or hereafter acquired, of every kind and description, tangible or intangible (collectively, the "Collateral"),
including, without limitation, the following:

 

(a)          all
Accounts;

 

(b)          all
Chattel Paper (whether tangible or electronic);

 

(c)          the
Commercial Tort Claims specified on Schedule VI hereto;

 

(d)          all
Deposit Accounts (including, without limitation, all cash, and all other property from time to time deposited therein and the monies
and property in the possession or under the control of the Buyer or any affiliate, representative, agent or correspondent of the
Buyer;

 

(e)          all
Documents;

 

(f)          all
Equipment;

 

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(g)         all
Fixtures;

 

(h)         all
General Intangibles (including, without limitation, all Payment Intangibles);

 

(i)          all
Goods;

 

(j)          all
Instruments (including, without limitation, Promissory Notes and each certificated Security);

 

(k)         all
Inventory;

 

(l)          all
Investment Property;

 

(m)        all
Copyrights, Patents and Trademarks, and all Licenses;

 

(n)         all
Letter-of-Credit Rights;

 

(o)         all
Supporting Obligations;

 

(p)         all
Pledged Interests;

 

(q)         all
other tangible and intangible personal property of such Grantor (whether or not subject to the Code), including, without limitation,
all bank and other accounts and all cash and all investments therein, all proceeds, products, offspring, accessions, rents, profits,
income, benefits, substitutions and replacements of and to any of the property of such Grantor described in the preceding clauses
of this Section 2 (including, without limitation, any proceeds of insurance thereon and all causes of action, claims and
warranties now or hereafter held by such Grantor in respect of any of the items listed above), and all books, correspondence, files
and other Records, including, without limitation, all tapes, desks, cards, Software, data and computer programs in the possession
or under the control of such Grantor or any other Person from time to time acting for such Grantor that at any time evidence or
contain information relating to any of the property described in the preceding clauses of this Section 2 or are otherwise
necessary or helpful in the collection or realization thereof; and

 

(r)          all
Proceeds, including all Cash Proceeds and Noncash Proceeds, and products of any and all of the foregoing Collateral; in each case
howsoever such Grantor's interest therein may arise or appear (whether by ownership, security interest, claim or otherwise).

 

Each Existing Grantor hereby confirms,
ratifies and reaffirms that the liens on and security interests granted pursuant to the Existing Security Agreement are continuing
and are and shall remain unimpaired and continue to constitute fully perfected, first priority Liens in favor of the Buyer, with
the same force, effect and priority in effect both immediately prior to and after entering into this Security Agreement and the
other Transaction Documents entered into on or as of the date hereof. Each Existing Grantor hereby confirms and agrees that such
Liens granted pursuant to the Existing Security Agreement will continue to secure all of the Obligations.

 

    	-6-

    	 

    

 

Section
3.          Security for Obligations. The security interest created
hereby in the Collateral constitutes continuing collateral security for all of the following obligations, whether now existing
or hereafter incurred (collectively, the "Obligations"):

 

(a)          the
prompt payment by each Grantor, as and when due and payable (by scheduled maturity, required prepayment, acceleration, demand or
otherwise), of all amounts from time to time owing by it in respect of the Note, the Guaranty and the other Note Transaction Documents,
including, without limitation, (A) all principal of and interest on the Note (including, without limitation, all interest that
accrues after the commencement of any Insolvency Proceeding of any Grantor, whether or not the payment of such interest is unenforceable
or is not allowable due to the existence of such Insolvency Proceeding), and (B) all amounts from time to time owing by such Grantor
under the Guaranty; and

 

(b)          the
due performance and observance by each Grantor of all of its other obligations from time to time existing in respect of any of
the Note Transaction Documents for so long as the Note are outstanding.

 

Section
4.          Representations and Warranties. Each Grantor (that
is not an Existing Grantor) represents and warrants as to itself as follows:

 

(a)          Schedule
I hereto sets forth (i) the exact legal name of such Grantor, and (ii) the organizational identification number of such Grantor
or states that no such organizational identification number exists.

 

(b)          There
is no pending or written notice threatening any action, suit, proceeding or claim affecting such Grantor before any governmental
authority or any arbitrator, or any order, judgment or award by any governmental authority or arbitrator, that may adversely affect
the grant by such Grantor, or the perfection, of the security interest purported to be created hereby in the Collateral, or the
exercise by the Buyer of any of its rights or remedies hereunder.

 

(c)          All
Federal, state and local tax returns and other reports required by applicable law to be filed by such Grantor have been filed,
or extensions have been obtained, and all taxes, assessments and other governmental charges imposed upon such Grantor or any property
of such Grantor (including, without limitation, all federal income and social security taxes on employees' wages) and which have
become due and payable on or prior to the date hereof have been paid, except to the extent contested in good faith by proper proceedings
which stay the imposition of any penalty, fine or Lien resulting from the non-payment thereof and with respect to which adequate
reserves have been set aside for the payment thereof in accordance with generally accepted accounting principles consistently applied
("GAAP").

 

    	-7-

    	 

    

 

(d)          All
Equipment, Fixtures, Goods and Inventory of such Grantor now existing are, and all Equipment, Fixtures, Goods and Inventory of
such Grantor hereafter existing will be, located and/or based at the addresses specified therefor in Schedule III hereto,
except that such Grantor will give the Buyer not less than 30 days' prior written notice of any change of the location of any such
Collateral, other than to locations set forth on Schedule III and with respect to which the Buyer has filed financing statements
and otherwise fully perfected its Liens thereon, subject to Section 5(n) hereof. Such Grantor's chief place of business
and chief executive office, the place where such Grantor keeps its Records concerning Accounts and all originals of all Chattel
Paper are located at the addresses specified therefor in Schedule III hereto. None of the Accounts is evidenced by Promissory
Notes or other Instruments. Set forth in Schedule IV hereto is a complete and accurate list, as of the date of this Agreement,
of (i) each Promissory Note, Security and other Instrument owned by each Grantor and (ii) each Deposit Account, Securities Account
and Commodities Account of each Grantor, together with the name and address of each institution at which each such Account is maintained,
the account number for each such Account and a description of the purpose of each such Account. Set forth in Schedule II
hereto is a complete and correct list of each trade name used by each Grantor and the name of, and each trade name used by, each
person from which such Grantor has acquired any substantial part of the Collateral.

 

(e)          Such
Grantor has delivered or made available to the Buyer complete and correct copies of each License described in Schedule II
hereto, including all schedules and exhibits thereto, which represents all of the Licenses existing on the date of this Agreement.
Each such License sets forth the entire agreement and understanding of the parties thereto relating to the subject matter thereof,
and there are no other agreements, arrangements or understandings, written or oral, relating to the matters covered thereby or
the rights of such Grantor or any of its affiliates in respect thereof. Each material License now existing is, and any material
License entered into in the future will be, the legal, valid and binding obligation of the parties thereto, enforceable against
such parties in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance, suretyship or other similar laws and equitable principles (regardless of whether enforcement is sought in
equity or in law). No default under any material License by any such party has occurred, nor does any defense, offset, deduction
or counterclaim exist thereunder in favor of any such party.

 

(f)          Such
Grantor owns and controls, or otherwise possesses adequate rights to use, all Trademarks, Patents and Copyrights, which are the
only trademarks, patents, copyrights, inventions, trade secrets, proprietary information and technology, know-how, formulae, rights
of publicity necessary to conduct its business in substantially the same manner as conducted as of the date hereof. Schedule
II hereto sets forth a true and complete list of all registered copyrights, issued patents, Trademarks (including, without
limitation, any Internet domain names and the registrar of each such Internet domain name), and Licenses annually owned or used
by such Grantor as of the date hereof. To the best knowledge of each Grantor, all such Intellectual Property of such Grantor is
subsisting and in full force and effect, has not been adjudged invalid or unenforceable, is valid and enforceable and has not been
abandoned in whole or in part. Except as set forth in Schedule II, no such Intellectual Property is the subject of any licensing
or franchising agreement. Such Grantor has no knowledge of any conflict with the rights of others to any Intellectual Property
and, to the best knowledge of such Grantor, such Grantor is not now infringing or in conflict with any such rights of others in
any material respect, and to the best knowledge of such Grantor, no other Person is now infringing or in conflict in any material
respect with any such properties, assets and rights owned or used by such Grantor. Such Grantor has not received any notice that
it is violating or has violated the trademarks, patents, copyrights, inventions, trade secrets, proprietary information and technology,
know-how, formulae, rights of publicity or other intellectual property rights of any third party.

 

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(g)          Such
Grantor is and will be at all times the sole and exclusive owner of, or otherwise has and will have adequate rights in, the Collateral
free and clear of any Liens, except for Permitted Liens on any Collateral. No effective financing statement or other instrument
similar in effect covering all or any part of the Collateral is on file in any recording or filing office except (A) such
as may have been filed in favor of the Buyer relating to this Agreement, subject to Section 5(n) hereof, and (B) such
as may have been filed to perfect any Permitted Liens.

 

(h)          The
exercise by the Buyer of any of its rights and remedies hereunder will not contravene any law or any contractual restriction binding
on or otherwise affecting such Grantor or any of its properties and will not result in or require the creation of any Lien, upon
or with respect to any of its properties.

 

(i)          No
authorization or approval or other action by, and no notice to or filing with, any governmental authority or other regulatory body,
or any other Person, is required for (i) the grant by such Grantor or any perfection of the security interest which may be
created hereby in the Collateral pursuant to Section 5(n), or (ii) the exercise by the Buyer of any of its rights and remedies
hereunder, except (A) for the filing under the Uniform Commercial Code as in effect in the applicable jurisdiction of any
financing statements which may be filed pursuant to Section 5(n) hereof.

 

(j)          This
Agreement creates in favor of the Buyer a legal, valid and enforceable (except to the extent such enforceability may be affected
by the fact that it is not perfected) security interest in the Collateral, as security for the Obligations.

 

(k)          As
of the date hereof, such Grantor does not hold any Commercial Tort Claims nor is aware of any such pending claims, except for such
claims described in Schedule VI.

 

Section
5.          Covenants as to the Collateral. Subject in all respects
to Section 5(n), so long as any of the Obligations shall remain outstanding, unless the Buyer shall otherwise consent in writing:

 

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(a)          Further
Assurances. Each Grantor will at its expense, at any time and from time to time, promptly execute and deliver all further instruments
and documents and take all further action that the Buyer may reasonably request in order to: (i) perfect and protect the security
interest purported to be created hereby; (ii) enable the Buyer to exercise and enforce its rights and remedies hereunder in
respect of the Collateral; or (iii) otherwise effect the purposes of this Agreement, including, without limitation: (A) marking
conspicuously all Chattel Paper and each License and, at the request of the Buyer, each of its Records pertaining to the Collateral
with a legend, in form and substance satisfactory to the Buyer, indicating that such Chattel Paper, License or Collateral is subject
to the security interest created hereby, (B)  delivering and pledging to the Buyer hereunder each Promissory Note, Security,
Chattel Paper or other Instrument, now or hereafter owned by such Grantor, duly endorsed and accompanied by executed instruments
of transfer or assignment, all in form and substance satisfactory to the Buyer, (C) executing and filing (to the extent, if
any, that such Grantor's signature is required thereon) or authenticating the filing of, such financing or continuation statements,
or amendments thereto, as may be necessary or desirable or that the Buyer may request in order to perfect and preserve the security
interest purported to be created hereby, (D) furnishing to the Buyer from time to time statements and schedules further identifying
and describing the Collateral and such other reports in connection with the Collateral in each case as the Buyer may reasonably
request, all in reasonable detail, (E) if any Collateral shall be in the possession of a third party, notifying such Person
of the Buyer's security interest created hereby and obtaining a written acknowledgment from such Person that such Person holds
possession of the Collateral for the benefit of the Buyer, which such written acknowledgement shall be in form and substance satisfactory
to the Buyer, (F) if at any time after the date hereof, such Grantor acquires or holds any Commercial Tort Claim, promptly
notifying the Buyer in a writing signed by such Grantor setting forth a brief description of such Commercial Tort Claim and granting
to the Buyer a security interest therein and in the proceeds thereof, which writing shall incorporate the provisions hereof and
shall be in form and substance satisfactory to the Buyer, (G) upon the acquisition after the date hereof by such Grantor of
any motor vehicle or other Equipment subject to a certificate of title or ownership (other than a Motor Vehicle or Equipment that
is subject to a purchase money security interest), causing the Buyer to be listed as the lienholder on such certificate of title
or ownership and delivering evidence of the same to the Buyer; and (H) taking all actions required by any earlier versions
of the Uniform Commercial Code or by other law, as applicable, in any relevant Uniform Commercial Code jurisdiction, or by other
law as applicable in any foreign jurisdiction.

 

(b)          Location
of Equipment and Inventory. Each Grantor will keep the Equipment and Inventory at the locations specified therefor in Section 4(g)
hereof or, upon not less than thirty (30) days' prior written notice to the Buyer accompanied by a new Schedule V hereto
indicating each new location of the Equipment and Inventory, at such other locations in the United States.

 

(c)          Condition
of Equipment. Each Grantor will maintain or cause the Equipment (necessary or useful to its business) to be maintained and
preserved in good condition, repair and working order, ordinary wear and tear excepted, and will forthwith, or in the case of any
loss or damage to any Equipment of such Grantor within a commercially reasonable time after the occurrence thereof, make or cause
to be made all repairs, replacements and other improvements in connection therewith which are necessary or desirable, consistent
with past practice, or which the Buyer may reasonably request to such end. Such Grantor will promptly furnish to the Buyer a statement
describing in reasonable detail any such loss or damage in excess of $25,000 to any Equipment.

 

(d)          Taxes,
Etc. Each Grantor agrees to pay promptly when due all property and other taxes, assessments and governmental charges or levies
imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except
to the extent the validity thereof is being contested in good faith by proper proceedings which stay the imposition of any penalty,
fine or Lien resulting from the non-payment thereof and with respect to which adequate reserves in accordance with GAAP have been
set aside for the payment thereof.

 

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(e)          Insurance.

 

(i)          Each
Grantor will, at its own expense, maintain insurance (including, without limitation, commercial general liability and property
insurance) with respect to the Equipment and Inventory in such amounts, against such risks, in such form and with responsible and
reputable insurance companies or associations as is required by any governmental authority having jurisdiction with respect thereto
or as is carried by such Grantor as of the date hereof and in any event, in amount, adequacy and scope reasonably satisfactory
to the Buyer. Each such policy for liability insurance shall provide for all losses to be paid on behalf of the Buyer and such
Grantor as their respective interests may appear, and each policy for property damage insurance shall provide for all losses to
be adjusted with, and paid directly to, the Buyer. Each such policy shall in addition (A) name the Buyer as an additional insured
party thereunder (without any representation or warranty by or obligation upon the Buyer) as their interests may appear, (B) contain
an agreement by the insurer that any loss thereunder shall be payable to the Buyer on its own account notwithstanding any action,
inaction or breach of representation or warranty by such Grantor, (C) provide that there shall be no recourse against the Buyer
for payment of premiums or other amounts with respect thereto, and (D) provide that at least 30 days' prior written notice of cancellation,
lapse, expiration or other adverse change shall be given to the Buyer by the insurer. Such Grantor will, if so requested by the
Buyer, deliver to the Buyer original or duplicate policies of such insurance and, as often as the Buyer may reasonably request,
a report of a reputable insurance broker with respect to such insurance. Such Grantor will also, at the request of the Buyer, execute
and deliver instruments of assignment of such insurance policies and cause the respective insurers to acknowledge notice of such
assignment.

 

(ii)         Reimbursement
under any liability insurance maintained by a Grantor pursuant to this Section 5(e) may be paid directly to the Person who
shall have incurred liability covered by such insurance. In the case of any loss involving damage to Equipment or Inventory, any
proceeds of insurance maintained by a Grantor pursuant to this Section 5(e) shall be paid to the Buyer (except as to which
paragraph (iii) of this Section 5(e) is not applicable), such Grantor will make or cause to be made the necessary repairs
to or replacements of such Equipment or Inventory, and any proceeds of insurance maintained by such Grantor pursuant to this Section
5(e) shall be paid by the Buyer to such Grantor as reimbursement for the costs of such repairs or replacements.

 

(iii)        All
insurance payments in respect of such Equipment or Inventory shall be paid to the Buyer and applied as specified in Section
7(b) hereof.

 

(f)          Provisions
Concerning the Accounts and the Licenses.

 

(i)          Each
Grantor will (A) give the Buyer at least 30 days' prior written notice of any change in such Grantor's name, identity or organizational
structure, (B) maintain its jurisdiction of incorporation as set forth in Section 4(b) hereto, (C) immediately notify the
Buyer upon obtaining an organizational identification number, if on the date hereof such Grantor did not have such identification
number, and (D) keep adequate records concerning the Accounts and Chattel Paper and permit representatives of the Buyer during
normal business hours on reasonable notice to such Grantor, to inspect and make abstracts from such Records and Chattel Paper.

 

    	-11-

    	 

    

 

(ii)         Each
Grantor will, except as otherwise provided in this subsection (f), continue to collect, at its own expense, all amounts due
or to become due under the Accounts. In connection with such collections, such Grantor may (and, at the Buyer's direction, will)
take such action as such Grantor or the Buyer may deem necessary or advisable to enforce collection or performance of the Accounts;
provided, however, that the Buyer shall have the right at any time, upon the occurrence and during the continuance
of an Event of Default, to notify the account debtors or obligors under any Accounts of the assignment of such Accounts to the
Buyer and to direct such account debtors or obligors to make payment of all amounts due or to become due to such Grantor thereunder
directly to the Buyer or its designated agent and, upon such notification and at the expense of such Grantor and to the extent
permitted by law, to enforce collection of any such Accounts and to adjust, settle or compromise the amount or payment thereof,
in the same manner and to the same extent as such Grantor might have done. After receipt by a Grantor of a notice from the Buyer
that the Buyer has notified, intends to notify, or has enforced or intends to enforce a Grantor's rights against the account debtors
or obligors under any Accounts as referred to in the proviso to the immediately preceding sentence, (A) all amounts and proceeds
(including Instruments) received by such Grantor in respect of the Accounts shall be received in trust for the benefit of the Buyer
hereunder, shall be segregated from other funds of such Grantor and shall be forthwith paid over to the Buyer in the same form
as so received (with any necessary endorsement) to be held as cash collateral and applied as specified in Section 7(b) hereof,
and (B) such Grantor will not adjust, settle or compromise the amount or payment of any Account or release wholly or partly any
account debtor or obligor thereof or allow any credit or discount thereon. In addition, upon the occurrence and during the continuance
of an Event of Default, the Buyer may (in its sole and absolute discretion) direct any or all of the banks and financial institutions
with which such Grantor either maintains a Deposit Account or a lockbox or deposits the proceeds of any Accounts to send immediately
to the Buyer by wire transfer (to such account as the Buyer shall specify, or in such other manner as the Buyer shall direct) all
or a portion of such securities, cash, investments and other items held by such institution. Any such securities, cash, investments
and other items so received by the Buyer shall (in the sole and absolute discretion of the Buyer) be held as additional Collateral
for the Obligations or distributed in accordance with Section 7 hereof.

 

(iii)        Upon
the occurrence and during the continuance of any breach or default under any material License referred to in Schedule II
hereto by any party thereto other than a Grantor, the Grantor party thereto will, promptly after obtaining knowledge thereof, give
the Buyer written notice of the nature and duration thereof, specifying what action, if any, it has taken and proposes to take
with respect thereto and thereafter will take reasonable steps to protect and preserve its rights and remedies in respect of such
breach or default, or will obtain or acquire an appropriate substitute License.

 

(iv)        Each
Grantor will, at its expense, promptly deliver to the Buyer a copy of each notice or other communication received by it by which
any other party to any material License referred to in Schedule II hereto purports to exercise any of its rights or affect
any of its obligations thereunder, together with a copy of any reply by such Grantor thereto.

 

    	-12-

    	 

    

 

(v)         Each
Grantor will exercise promptly and diligently each and every right which it may have under each material License (other than any
right of termination) and will duly perform and observe in all respects all of its obligations under each material License and
will take all action reasonably necessary to maintain such Licenses in full force and effect. No Grantor will, without the prior
written consent of the Buyer, cancel, terminate, amend or otherwise modify in any respect, or waive any provision of, any material
License referred to in Schedule II hereto.

 

(g)          Transfers
and Other Liens.

 

(i)          No
Grantor will sell, assign (by operation of law or otherwise), lease, license, exchange or otherwise transfer or dispose of any
of the Collateral, except (A) Inventory in the ordinary course of business, (B) worn-out or obsolete assets not necessary to the
business, and (C) Accounts solely in accordance with the terms and conditions of the Factoring Agreement.

 

(ii)         No
Grantor will create, suffer to exist or grant any Lien upon or with respect to any Collateral other than a Permitted Lien.

 

(h)          Intellectual
Property.

 

(i)          Except
as otherwise set forth herein, if applicable, each Grantor shall, upon the Buyer's written request, duly execute and delivered
the applicable Assignment for Security in the form attached hereto as Exhibit A. Each Grantor (either itself or through
licensees) will, and will cause each licensee thereof to, take all action necessary to maintain all of the Intellectual Property
in full force and effect, including, without limitation, using the proper statutory notices and markings and using the Trademarks
on each applicable trademark class of goods in order to so maintain the Trademarks in full force and free from any claim of abandonment
for non-use, and such Grantor will not (nor permit any licensee thereof to) do any act or knowingly omit to do any act whereby
any Intellectual Property may become invalidated; provided, however, that so long as no Event of Default has occurred
and is continuing, such Grantor shall not have an obligation to use or to maintain any Intellectual Property (A) that relates
solely to any product or work, that has been, or is in the process of being, discontinued, abandoned or terminated, (B) that is
being replaced with Intellectual Property substantially similar to the Intellectual Property that may be abandoned or otherwise
become invalid, so long as the failure to use or maintain such Intellectual Property does not materially adversely affect the validity
of such replacement Intellectual Property and so long as such replacement Intellectual Property is subject to the Lien created
by this Agreement or (C) that is substantially the same as another Intellectual Property that is in full force, so long the failure
to use or maintain such Intellectual Property does not materially adversely affect the validity of such replacement Intellectual
Property and so long as such other Intellectual Property is subject to the Lien and security interest created by this Agreement.
Each Grantor will cause to be taken all necessary steps in any proceeding before the United States Patent and Trademark Office
and the United States Copyright Office or any similar office or agency in any other country or political subdivision thereof to
maintain each registration of the Intellectual Property (other than the Intellectual Property described in the proviso to the immediately
preceding sentence), including, without limitation, filing of renewals, affidavits of use, affidavits of incontestability and opposition,
interference and cancellation proceedings and payment of maintenance fees, filing fees, taxes or other governmental fees in the
ordinary course of business. If any Intellectual Property (other than Intellectual Property described in the proviso to the first
sentence of subsection (i) of this clause (h)) is infringed, misappropriated, diluted or otherwise violated in any material respect
by a third party, such Grantor shall (x) upon learning of such infringement, misappropriation, dilution or other violation, promptly
notify the Buyer and (y) to the extent such Grantor shall deem appropriate under the circumstances, promptly sue for infringement,
misappropriation, dilution or other violation, seek injunctive relief where appropriate and recover any and all damages for such
infringement, misappropriation, dilution or other violation, or take such other actions as such Grantor shall deem appropriate
under the circumstances to protect such Intellectual Property. Each Grantor shall furnish to the Buyer from time to time upon its
request statements and schedules further identifying and describing the Intellectual Property and Licenses and such other reports
in connection with the Intellectual Property and Licenses as the Buyer may reasonably request, all in reasonable detail and promptly
upon request of the Buyer, following receipt by the Buyer of any such statements, schedules or reports, such Grantor shall modify
this Agreement by amending Schedule II hereto, as the case may be, to include any Intellectual Property and License, as
the case may be, which becomes part of the Collateral under this Agreement and shall execute and authenticate such documents and
do such acts as shall be necessary or, in the judgment of the Buyer, desirable to subject such Intellectual Property and Licenses
to the Lien and security interest created by this Agreement. Notwithstanding anything herein to the contrary, upon the occurrence
and during the continuance of an Event of Default, such Grantor may not abandon or otherwise permit any Intellectual Property to
become invalid without the prior written consent of the Buyer, and if any Intellectual Property is infringed, misappropriated,
diluted or otherwise violated in any material respect by a third party, such Grantor will take such action as the Buyer shall deem
appropriate under the circumstances to protect such Intellectual Property.

 

    	-13-

    	 

    

 

(ii)         In
no event shall a Grantor, either itself or through any agent, employee, licensee or designee, file an application for the registration
of any Trademark or Copyright or the issuance of any Patent with the United States Patent and Trademark Office or the United States
Copyright Office, as applicable, or in any similar office or agency of the United States or any country or any political subdivision
thereof unless it gives the Buyer prior written notice thereof. Upon request of the Buyer, but except as otherwise set forth herein,
each Grantor shall execute, authenticate and deliver any and all assignments, agreements, instruments, documents and papers as
the Buyer may reasonably request to evidence the Buyer's security interest hereunder in such Intellectual Property and the General
Intangibles of such Grantor relating thereto or represented thereby, and such Grantor hereby appoints the Buyer its attorney-in-fact
to execute and/or authenticate and file all such writings for the foregoing purposes, all acts of such attorney being hereby ratified
and confirmed, and such power (being coupled with an interest) shall be irrevocable until the indefeasible payment in full in cash
of all obligations under the Note (together with any matured indemnification obligations as of the date of such payment, but excluding
any inchoate or unmatured contingent indemnification obligations).

 

(iii)        Upon
the Buyer's request, each Grantor shall cause each domain registrar where any of such Grantor's Internet domain names are registered,
whether as of the date of this Agreement or at any time hereafter, to execute and deliver to the Buyer a domain name control agreement,
in form and substance reasonably satisfactory to the Buyer, duly executed by such Grantor and such domain registrar, or enter into
other arrangements in form and substance satisfactory to the Buyer, pursuant to which such domain registrar shall irrevocably agree,
inter alia, that (i) it will comply at any time with the instructions originated by the Buyer to such domain registrar
directing substitution of the Buyer or its designee as the registered owner of such Internet domain names, without further consent
of such Grantor, which instructions the Buyer will not give to such domain registrar in the absence of a continuing Event of Default.

 

    	-14-

    	 

    

 

(i)          Deposit,
Commodities and Securities Accounts. Upon the Buyer's request, each Grantor shall cause each bank and other financial institution
with an account referred to in Schedule IV hereto to execute and deliver to the Buyer a control agreement, in form and substance
reasonably satisfactory to the Buyer, duly executed by such Grantor and such bank or financial institution, or enter into other
arrangements in form and substance satisfactory to the Buyer, pursuant to which such institution shall irrevocably agree, inter
alia, that (i) it will comply at any time with the instructions originated by the Buyer to such bank or financial institution
directing the disposition of cash, Commodity Contracts, securities, Investment Property and other items from time to time credited
to such account, without further consent of such Grantor, which instructions the Buyer will not give to such bank or other financial
institution in the absence of a continuing Event of Default, (ii) all cash, Commodity Contracts, securities, Investment Property
and other items of such Grantor deposited with such institution shall be subject to a perfected, first priority security interest
in favor of the Buyer, (iii) any right of set off, banker's Lien or other similar Lien, security interest or encumbrance shall
be fully waived as against the Buyer, and (iv) upon receipt of written notice from the Buyer during the continuance of an
Event of Default, such bank or financial institution shall immediately send to the Buyer by wire transfer (to such account as the
Buyer shall specify, or in such other manner as the Buyer shall direct) all such cash, the value of any Commodity Contracts, securities,
Investment Property and other items held by it. Without the prior written consent of the Buyer, such Grantor shall not make or
maintain any Deposit Account, Commodity Account or Securities Account except for the accounts set forth in Schedule IV hereto.
The provisions of this paragraph 5(i) shall not apply to (i) Deposit Accounts for which the Buyer is the depositary and (ii) Deposit
Accounts specially and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit
of a Grantor's salaried employees.

 

(j)          Motor
Vehicles.

 

(i)          Upon
the Buyer's written request, each Grantor shall deliver to the Buyer originals of the certificates of title or ownership for all
motor vehicles owned by it with the Buyer listed as lienholder.

 

(ii)         Each
Grantor hereby appoints the Buyer as its attorney-in-fact, effective the date hereof and terminating upon the termination of this
Agreement, for the purpose of (A) executing on behalf of such Grantor title or ownership applications for filing with appropriate
state agencies to enable motor vehicles now owned or hereafter acquired by such Grantor to be retitled and the Buyer listed as
lienholder thereof, (B) filing such applications with such state agencies, and (C) executing such other documents and instruments
on behalf of, and taking such other action in the name of, such Grantor as the Buyer may deem necessary or advisable to accomplish
the purposes hereof (including, without limitation, for the purpose of creating in favor of the Buyer a perfected Lien on the motor
vehicles and exercising the rights and remedies of the Buyer hereunder). This appointment as attorney-in-fact is coupled with an
interest and is irrevocable until the indefeasible payment in full in cash of all obligations under the Note (together with any
matured indemnification obligations as of the date of such payment, but excluding any inchoate or unmatured contingent indemnification
obligations).

 

    	-15-

    	 

    

 

(iii)        Any
certificates of title or ownership delivered pursuant to the terms hereof shall be accompanied by odometer statements for each
motor vehicle covered thereby.

 

(iv)        So
long as no Event of Default shall have occurred and be continuing, upon the request of such Grantor, the Buyer shall execute and
deliver to such Grantor such instruments as such Grantor shall reasonably request to remove the notation of the Buyer as lienholder
on any certificate of title for any motor vehicle; provided, however, that any such instruments shall be delivered,
and the release effective, only upon receipt by the Buyer of a certificate from such Grantor stating that such motor vehicle is
to be sold or has suffered a casualty loss (with title thereto passing to the casualty insurance company therefor in settlement
of the claim for such loss) and the amount that such Grantor will receive as sale proceeds or insurance proceeds. Any proceeds
of such sale or casualty loss shall be paid to the Buyer hereunder immediately upon receipt, to be applied to the Obligations then
outstanding.

 

(k)          Control.
Each Grantor hereby agrees to take any or all action that may be necessary or desirable or that the Buyer may request in order
for the Buyer to obtain control in accordance with Sections 9-105 – 9-107 of the Code with respect to the following Collateral:
(i) Electronic Chattel Paper, (ii) Investment Property, (iii) Pledged Interests and (iv) Letter-of-Credit Rights.

 

(l)          Inspection
and Reporting. Each Grantor shall permit the Buyer, or any agent or representatives thereof or such professionals or other
Persons as the Buyer may designate, not more than once a year in the absence of an Event of Default, (i) to examine and make
copies of and abstracts from such Grantor's records and books of account, (ii) to visit and inspect its properties, (iii) to
verify materials, leases, Instruments, Accounts, Inventory and other assets of such Grantor from time to time, (iii) to conduct
audits, physical counts, appraisals and/or valuations, examinations at the locations of such Grantor. Each Grantor shall also permit
the Buyer, or any agent or representatives thereof or such professionals or other Persons as the Buyer may designate to discuss
such Grantor's affairs, finances and accounts with any of its officers subject to the execution by the Buyer or its designee(s)
of a mutually agreeable confidentiality agreement.

 

(m)          Future
Subsidiaries. If any Grantor shall hereafter create or acquire any Subsidiary, simultaneously with the creation of acquisition
of such Subsidiary, such Grantor shall cause such Subsidiary to become a party to this Agreement as an additional "Grantor"
hereunder, and to duly execute and/or deliver such opinions of counsel and other documents, in form and substance acceptable to
the Buyer, as the Buyer shall reasonably request with respect thereto.

 

(n)          The
Company and Vringo Israel. Notwithstanding anything contained in this Agreement, the Company and Vringo Israel shall not be
required to take any action, including, without limitation, to perfect any lien on or security interest in, or otherwise protect
or enforce the rights of the Buyer in, the Collateral, provided that, on and after the Default Date and so long as
an Event of Default is continuing, the Buyer, in its sole discretion, may require the Company or Vringo Israel to take any and
all actions necessary or desirable in order to perfect its liens on and security interests in the Collateral and otherwise, to
comply with the other covenants related to actions to be taken in respect of further insuring the attachment, perfection and priority
of, or the ability of the Buyer to enforce the security interests in, the Collateral.

 

    	-16-

    	 

    

 

Section
6.          Additional Provisions Concerning the Collateral. Subject
to Section 5(n)

 

(a)          Each
Grantor hereby (i) authorizes the Buyer to file one or more Uniform Commercial Code financing or continuation statements,
and amendments thereto, relating to the Collateral, and (ii) ratifies such authorization to the extent that the Buyer has
filed any such financing or continuation statements, or amendments thereto, prior to the date hereof. A photocopy or other reproduction
of this Agreement or any financing statement covering the Collateral or any part thereof shall be sufficient as a financing statement
where permitted by law.

 

(b)          Each
Grantor hereby irrevocably appoints the Buyer as its attorney-in-fact and proxy, with full authority in the place and stead of
such Grantor and in the name of such Grantor or otherwise, from time to time in the Buyer's discretion, so long as an Event of
Default shall have occurred and is continuing, to take any action and to execute any instrument which the Buyer may deem necessary
or advisable to accomplish the purposes of this Agreement (subject to the rights of such Grantor under Section 5 hereof),
including, without limitation, (i) to obtain and adjust insurance required to be paid to the Buyer pursuant to Section 5(e)
hereof, (ii) to ask, demand, collect, sue for, recover, compound, receive and give acquittance and receipts for moneys due and
to become due under or in respect of any Collateral, (iii) to receive, endorse, and collect any drafts or other instruments, documents
and chattel paper in connection with clause (i) or (ii) above, (iv) to file any claims or take any action or institute any proceedings
which the Buyer may deem necessary or desirable for the collection of any Collateral or otherwise to enforce the rights of the
Buyer with respect to any Collateral, and (v) to execute assignments, licenses and other documents to enforce the rights of the
Buyer with respect to any Collateral. This power is coupled with an interest and is irrevocable until the indefeasible payment
in full in cash of all obligations under the Note (together with any matured indemnification obligations as of the date of such
payment, but excluding any inchoate or unmatured contingent indemnification obligations).

 

    	-17-

    	 

    

 

(c)          For
the purpose of enabling the Buyer to exercise rights and remedies hereunder, at such time as the Buyer shall be lawfully entitled
to exercise such rights and remedies upon and during an Event of Default, and for no other purpose, each Grantor hereby grants
to the Buyer, to the extent assignable, an irrevocable, non-exclusive license (exercisable without payment of royalty or other
compensation to such Grantor) to use, assign, license or sublicense any Intellectual Property now owned or hereafter acquired by
such Grantor, wherever the same may be located, including in such license reasonable access to all media in which any of the licensed
items may be recorded or stored and to all computer programs used for the compilation or printout thereof. Notwithstanding anything
contained herein to the contrary, so long as no Event of Default shall have occurred and be continuing, such Grantor may exploit,
use, enjoy, protect, license, sublicense, assign, sell, dispose of or take other actions with respect to the Intellectual Property
in the ordinary course of its business. In furtherance of the foregoing, unless an Event of Default shall have occurred and be
continuing, the Buyer shall from time to time, upon the request of a Grantor, execute and deliver any instruments, certificates
or other documents, in the form so requested, which such Grantor shall have certified are appropriate (in such Grantor's judgment)
to allow it to take any action permitted above (including relinquishment of the license provided pursuant to this clause (c) as
to any Intellectual Property). Further, upon the indefeasible payment in full in cash of all obligations under the Note (together
with any matured indemnification obligations as of the date of such payment, but excluding any inchoate or unmatured contingent
indemnification obligations), the Buyer (subject to Section 10(e) hereof) shall release and reassign to such Grantor all
of the Buyer's right, title and interest in and to the Intellectual Property, and the Licenses, all without recourse, representation
or warranty whatsoever. The exercise of rights and remedies hereunder by the Buyer shall not terminate the rights of the holders
of any licenses or sublicenses theretofore granted by such Grantor in accordance with the second sentence of this clause (c). Each
Grantor hereby releases the Buyer from any claims, causes of action and demands at any time arising out of or with respect to any
actions taken or omitted to be taken by the Buyer under the powers of attorney granted herein other than actions taken or omitted
to be taken through the Buyer's gross negligence or willful misconduct, as determined by a final determination of a court of competent
jurisdiction.

 

(d)          If
a Grantor fails to perform any agreement contained herein, the Buyer may itself perform, or cause performance of, such agreement
or obligation, in the name of such Grantor or the Buyer, and the expenses of the Buyer incurred in connection therewith shall be
payable by such Grantor pursuant to Section 8 hereof and shall be secured by the Collateral.

 

(e)          The
powers conferred on the Buyer hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon
it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually
received by it hereunder, the Buyer shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve
rights against prior parties or any other rights pertaining to any Collateral.

 

(f)          Anything
herein to the contrary notwithstanding (i) each Grantor shall remain liable under the Licenses and otherwise with respect
to any of the Collateral to the extent set forth therein to perform all of its obligations thereunder to the same extent as if
this Agreement had not been executed, (ii) the exercise by the Buyer of any of its rights hereunder shall not release such
Grantor from any of its obligations under the Licenses or otherwise in respect of the Collateral, and (iii) the Buyer shall
not have any obligation or liability by reason of this Agreement under the Licenses or with respect to any of the other Collateral,
nor shall the Buyer be obligated to perform any of the obligations or duties of such Grantor thereunder or to take any action to
collect or enforce any claim for payment assigned hereunder.

 

    	-18-

    	 

    

 

Section
7.          Remedies Upon Event of Default. If any Event of Default
shall have occurred and be continuing:

 

(a)          The
Buyer may exercise in respect of the Collateral, in addition to any other rights and remedies provided for herein or otherwise
available to it, all of the rights and remedies of a secured party upon default under the Code (whether or not the Code applies
to the affected Collateral), and also may (i) take absolute control of the Collateral, including, without limitation, transfer
into the Buyer's name or into the name of its nominee or nominees (to the extent the Buyer has not theretofore done so) and thereafter
receive, for the benefit of the Buyer, all payments made thereon, give all consents, waivers and ratifications in respect thereof
and otherwise act with respect thereto as though it were the outright owner thereof, (ii) require each Grantor to, and each
Grantor hereby agrees that it will at its expense and upon request of the Buyer forthwith, assemble all or part of its respective
Collateral as directed by the Buyer and make it available to the Buyer at a place or places to be designated by the Buyer that
is reasonably convenient to both parties, and the Buyer may enter into and occupy any premises owned or leased by such Grantor
where the Collateral or any part thereof is located or assembled for a reasonable period in order to effectuate the Buyer's rights
and remedies hereunder or under law, without obligation to such Grantor in respect of such occupation, and (iii) without notice
except as specified below and without any obligation to prepare or process the Collateral for sale, (A) sell the Collateral
or any part thereof in one or more parcels at public or private sale, at any of the Buyer's offices or elsewhere, for cash, on
credit or for future delivery, and at such price or prices and upon such other terms as the Buyer may deem commercially reasonable
and/or (B) lease, license or dispose of the Collateral or any part thereof upon such terms as the Buyer may deem commercially
reasonable. Each Grantor agrees that, to the extent notice of sale or any other disposition of its respective Collateral shall
be required by law, at least ten (10) days' notice to such Grantor of the time and place of any public sale or the time after which
any private sale or other disposition of its respective Collateral is to be made shall constitute reasonable notification. The
Buyer shall not be obligated to make any sale or other disposition of any Collateral regardless of notice of sale having been given.
The Buyer may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such
sale may, without further notice, be made at the time and place to which it was so adjourned. Each Grantor hereby waives any claims
against the Buyer arising by reason of the fact that the price at which its respective Collateral may have been sold at a private
sale was less than the price which might have been obtained at a public sale or was less than the aggregate amount of the Obligations,
even if the Buyer accepts the first offer received and does not offer such Collateral to more than one offeree, and waives all
rights that such Grantor may have to require that all or any part of such Collateral be marshalled upon any sale (public or private)
thereof. Each Grantor hereby acknowledges that (i) any such sale of its respective Collateral by the Buyer shall be made without
warranty, (ii) the Buyer may specifically disclaim any warranties of title, possession, quiet enjoyment or the like, and (iii) such
actions set forth in clauses (i) and (ii) above shall not adversely effect the commercial reasonableness of any such sale
of Collateral. In addition to the foregoing, (1) upon written notice to any Grantor from the Buyer, such Grantor shall cease
any use of the Intellectual Property or any trademark, patent or copyright similar thereto for any purpose described in such notice;
(2) the Buyer may, at any time and from time to time, upon 10 days' prior notice to such Grantor, license, whether general, special
or otherwise, and whether on an exclusive or non-exclusive basis, any of the Intellectual Property, throughout the universe for
such term or terms, on such conditions, and in such manner, as the Buyer shall in its sole discretion determine to the extent consistent
with any restrictions or conditions imposed upon such Grantor with respect to such Intellectual Property by license or other contractual
arrangement; and (2) the Buyer may, at any time, pursuant to the authority granted in Section 6 hereof (such authority being
effective upon the occurrence and during the continuance of an Event of Default), execute and deliver on behalf of such Grantor,
one or more instruments of assignment of the Intellectual Property (or any application or registration thereof), in form suitable
for filing, recording or registration in any country.

 

    	-19-

    	 

    

 

(b)          Any
cash held by the Buyer as Collateral and all Cash Proceeds received by the Buyer in respect of any sale of or collection from,
or other realization upon, all or any part of the Collateral may, in the discretion of the Buyer, be held by the Buyer as collateral
for, and/or then or at any time thereafter applied (after payment of any amounts payable to the Buyer pursuant to Section 8
hereof) in whole or in part by the Buyer against, all or any part of the Obligations in such order as the Buyer shall elect. Any
surplus of such cash or Cash Proceeds held by the Buyer and remaining after the indefeasible payment in full in cash of all obligations
under the Note (together with any matured indemnification obligations as of the date of such payment, but excluding any inchoate
or unmatured contingent indemnification obligations) shall be paid over to whomsoever shall be lawfully entitled to receive the
same or as a court of competent jurisdiction shall direct.

 

(c)          In
the event that the proceeds of any such sale, collection or realization are insufficient to pay all amounts to which the Buyer
is legally entitled, each Grantor shall be liable for the deficiency, together with interest thereon at the highest rate specified
in any of the applicable Note Transaction Documents for interest on overdue principal thereof or such other rate as shall be fixed
by applicable law, together with the costs of collection and the reasonable fees, costs, expenses and other client charges of any
attorneys employed by the Buyer to collect such deficiency.

 

(d)          Each
Grantor hereby acknowledges that if the Buyer complies with any applicable state, provincial, or federal law requirements in connection
with a disposition of the Collateral, such compliance will not adversely affect the commercial reasonableness of any sale or other
disposition of the Collateral.

 

(e)          The
Buyer shall not be required to marshal any present or future collateral security (including, but not limited to, this Agreement
and the Collateral) for, or other assurances of payment of, the Obligations or any of them or to resort to such collateral security
or other assurances of payment in any particular order, and all of the Buyer's rights hereunder and in respect of such collateral
security and other assurances of payment shall be cumulative and in addition to all other rights, however existing or arising.
To the extent that each Grantor lawfully may, such Grantor hereby agrees that it will not invoke any law relating to the marshalling
of collateral which might cause delay in or impede the enforcement of the Buyer's rights under this Agreement or under any other
instrument creating or evidencing any of the Obligations or under which any of the Obligations is outstanding or by which any of
the Obligations is secured or payment thereof is otherwise assured, and, to the extent that it lawfully may, such Grantor hereby
irrevocably waives the benefits of all such laws.

 

Section
8.          Indemnity and Expenses.

 

(a)          Each
Grantor agrees, jointly and severally, to defend, protect, indemnify and hold the Buyer harmless from and against any and all claims,
damages, losses, liabilities, obligations, penalties, fees, costs and expenses (including, without limitation, reasonable legal
fees, costs, expenses, and disbursements of such Person's counsel) to the extent that they arise out of or otherwise result from
this Agreement (including, without limitation, enforcement of this Agreement), except claims, losses or liabilities resulting solely
and directly from such Person's gross negligence or willful misconduct, as determined by a final judgment of a court of competent
jurisdiction.

 

    	-20-

    	 

    

 

(b)          Each
Grantor agrees, jointly and severally, to upon demand pay to the Buyer the amount of any and all costs and expenses, including
the reasonable fees, costs, expenses and disbursements of counsel for the Buyer and of any experts and agents (including, without
limitation, any collateral trustee which may act as agent of the Buyer), which the Buyer may incur in connection with (i) the
preparation, negotiation, execution, delivery, recordation, administration, amendment, waiver or other modification or termination
of this Agreement, (ii) the custody, preservation, use or operation of, or the sale of, collection from, or other realization
upon, any Collateral, (iii) the exercise or enforcement of any of the rights of the Buyer hereunder, or (iv) the failure
by any Grantor to perform or observe any of the provisions hereof.

 

Section
9.          Notices, Etc. All notices and other communications
provided for hereunder shall be in writing and shall be mailed (by certified mail, postage prepaid and return receipt requested),
telecopied or delivered, if to a Grantor at its address specified below and if to the Buyer to it, at its address specified below;
or as to any such Person, at such other address as shall be designated by such Person in a written notice to such other Person
complying as to delivery with the terms of this Section 9. All such notices and other communications shall be effective
(a) if sent by certified mail, return receipt requested, when received or five days after deposited in the mails, whichever
occurs first, (b) if telecopied, when transmitted (during normal business hours) and confirmation is received, otherwise,
the day after the notice was transmitted if confirmation is received, or (c) if delivered, upon delivery.

 

Section
10.         Miscellaneous.

 

(a)          No
amendment of any provision of this Agreement shall be effective unless it is in writing and signed by each Grantor and the Buyer,
and no waiver of any provision of this Agreement, and no consent to any departure by a Grantor therefrom, shall be effective unless
it is in writing and signed by the Buyer, and then such waiver or consent shall be effective only in the specific instance and
for the specific purpose for which given.

 

(b)          No
failure on the part of the Buyer to exercise, and no delay in exercising, any right hereunder or under any of the other Note Transaction
Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further
exercise thereof or the exercise of any other right. The rights and remedies of the Buyer provided herein and in the other Note
Transaction Documents are cumulative and are in addition to, and not exclusive of, any rights or remedies provided by law. The
rights of the Buyer under any of the other Note Transaction Documents against any party thereto are not conditional or contingent
on any attempt by such Person to exercise any of its rights under any of the other Note Transaction Documents against such party
or against any other Person, including but not limited to, any Grantor.

 

    	-21-

    	 

    

 

(c)          To
the extent permitted by applicable law, each Grantor hereby waives promptness, diligence, notice of
acceptance and any other notice with respect to any of the Obligations and this Agreement and any requirement that the Buyer exhaust
any right or take any action against any other Person or any Collateral. Each Grantor acknowledges that it will receive direct
and indirect benefits from the financing arrangements contemplated herein and that the waiver set forth in this Section 10(c)
is knowingly made in contemplation of such benefits. The Grantors hereby waive any right to revoke this Agreement, and acknowledge
that this Agreement is continuing in nature and applies to all Obligations, whether existing now or in the future.

 

(d)          No
Grantor may exercise any rights that it may now or hereafter acquire against any other Grantor that arise from the existence, payment,
performance or enforcement of any Grantor's obligations under this Agreement, including, without limitation, any right of subrogation,
reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of the Buyer against
any Grantor or any Collateral, whether or not such claim, remedy or right arises in equity or under contract, statute or common
law, including, without limitation, the right to take or receive from any Grantor, directly or indirectly, in cash or other property
or by set-off or in any other manner, payment or security solely on account of such claim, remedy or right, unless and until the
indefeasible payment in full in cash of all obligations under the Note (together with any matured indemnification obligations as
of the date of such payment, but excluding any inchoate or unmatured contingent indemnification obligations).
If any amount shall be paid to a Grantor in violation of the immediately preceding sentence at any time prior to the indefeasible
payment in full in cash of all obligations under the Note (together with any matured indemnification obligations as of the date
of such payment, but excluding any inchoate or unmatured contingent indemnification obligations), such
amount shall be held in trust for the benefit of the Buyer and shall forthwith be paid to the Buyer to be credited and applied
to the Obligations and all other amounts payable under the Note Transaction Documents, whether
matured or unmatured, in accordance with the terms of the Note Transaction Documents, or to be
held as Collateral for any Obligations or other amounts payable under the Note Transaction Documents
thereafter arising.

 

(e)          Any
provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or thereof or affecting
the validity or enforceability of such provision in any other jurisdiction.

 

(f)          This
Agreement shall create a continuing security interest in the Collateral and shall (i) remain in full force and effect until the
indefeasible payment in full in cash of all obligations under the Note (together with any matured indemnification obligations as
of the date of such payment, but excluding any inchoate or unmatured contingent indemnification obligations), and (ii) be binding
on each Grantor and all other Persons who become bound as debtor to this Agreement in accordance with Section 9-203(d) of the Code
and shall inure, together with all rights and remedies of the Buyer hereunder, to the benefit of the Buyer and its respective permitted
successors, transferees and assigns. Without limiting the generality of clause (ii) of the immediately preceding sentence, without
notice to any Grantor, the Buyer may assign or otherwise transfer its rights and obligations under this Agreement and any of the
other Note Transaction Documents, to any other Person and such other Person shall thereupon become vested with all of the benefits
in respect thereof granted to the Buyer herein or otherwise. Upon any such assignment or transfer, all references in this Agreement
to the Buyer shall mean the assignee of the Buyer. None of the rights or obligations of any Grantor hereunder may be assigned or
otherwise transferred without the prior written consent of the Buyer, and any such assignment or transfer without the consent of
the Buyer shall be null and void.

 

    	-22-

    	 

    

 

(g)          Upon
the indefeasible payment in full in cash of all obligations under the Note (together with any matured indemnification obligations
as of the date of such payment, but excluding any inchoate or unmatured contingent indemnification obligations), (i) this Agreement
and the security interests created hereby shall terminate and all rights to the Collateral shall revert to the respective Grantor
that granted such security interests hereunder, and (ii) the Buyer will, upon such Grantor's request and at such Grantor's expense,
(A) return to such Grantor such of the Collateral as shall not have been sold or otherwise disposed of or applied pursuant to the
terms hereof, and (B) execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such
termination, all without any representation, warranty or recourse whatsoever.

 

(h)          THIS
AGREEMENT SHALL BE GOVERNED BY, CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, EXCEPT AS REQUIRED
BY MANDATORY PROVISIONS OF LAW AND EXCEPT TO THE EXTENT THAT THE VALIDITY AND PERFECTION OR THE PERFECTION AND THE EFFECT OF PERFECTION
OR NON-PERFECTION OF THE SECURITY INTEREST CREATED HEREBY, OR REMEDIES HEREUNDER, IN RESPECT OF ANY PARTICULAR COLLATERAL ARE GOVERNED
BY THE LAW OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK.

 

(i)          ANY
LEGAL ACTION, SUIT OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY DOCUMENT RELATED THERETO MAY BE BROUGHT IN THE COURTS OF
THE STATE OF NEW YORK IN THE COUNTY OF NEW YORK OR THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE
COURTS THEREOF, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH GRANTOR HEREBY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS
PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH GRANTOR HEREBY EXPRESSLY AND IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE
OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY
SUCH ACTION, SUIT OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF
AS IS DEEMED APPROPRIATE BY THE COURT.

 

(j)          EACH
GRANTOR AND (BY ITS ACCEPTANCE OF THE BENEFITS OF THIS AGREEMENT) THE HOLDER WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT
OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER NOTE TRANSACTION DOCUMENTS,
OR ANY COURSE OF CONDUCT, COURSE OF DEALING, VERBAL OR WRITTEN STATEMENT OR OTHER ACTION OF THE PARTIES HERETO.

 

    	-23-

    	 

    

 

(k)          Nothing
contained herein shall affect the right of the Buyer to serve process in any other manner permitted by law or commence legal proceedings
or otherwise proceed against any Grantor or any property of such Grantor in any other jurisdiction.

 

(l)          Each
Grantor irrevocably and unconditionally waives any right it may have to claim or recover in any legal action, suit or proceeding
referred to in this Section any special, exemplary, punitive or consequential damages.

 

(m)         Section
headings herein are included for convenience of reference only and shall not constitute a part of this Agreement for any other
purpose.

 

(n)          This
Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which
shall be deemed to be an original, but all of which taken together constitute one in the same Agreement.

 

(o)          The
parties hereto hereby acknowledge and agree that this Agreement shall amend, restate, modify, extend, renew and continue the terms
and provisions contained in the Existing Security Agreement and shall not extinguish or release any Grantor from any liability
under the Existing Security Agreement or otherwise constitute a novation of its obligations thereunder.

 

[REMAINDER OF THIS PAGE INTENTIONALLY
LEFT BLANK]

 

    	-24-

    	 

    

 

IN WITNESS WHEREOF, each Grantor has caused
this Agreement to be executed and delivered by its officer thereunto duly authorized, as of the date first above written.

 

	 	VRINGO, INC., a Delaware corporation
	 	 	 
	 	By:	/s/ Andrew Perlman 
	 	 	Name: Andrew Perlman
	 	 	Title: CEO
	 	 	 
	 	Address for Notices:
	 	44 West 28th Street
	 	Suite 1414
	 	New York, NY 10001
	 	Facsimile: (646) 214-7946
	 	 	 
	 	INNOVATE/PROTECT, INC., a Delaware corporation formerly known as VIP Merger Sub, Inc.
	 	 	 
	 	By:  	/s/ Andrew Perlman 
	 	 	Name: Andrew Perlman
	 	 	Title: CEO
	 	 	 
	 	Address for Notices:
	 	380 Madison Avenue
	 	22nd Floor
	 	New York, NY 10023
	 	Facsimile: (646) 532-6775

 

Vringo Pledge and Security Agreement

 

    	 

    	 

    

 

	 	I/P LABS, INC., a Delaware corporation formerly known as Scottish Terrier Capital, Inc.
	 	 	 
	 	By:  	/s/ Alexander R.
    Berger 
	 	 	Name: Alexander R. Berger
	 	 	Title: Secretary and Chief Operating Officer
	 	 	 
	 	Address for Notices:
	 	c/o Innovate/Protect, Inc.
	 	380 Madison Avenue
	 	22nd Floor
	 	New York, NY 10023
	 	Facsimile: (646) 532-6775
	 	 	 
	 	I/P ENGINE, INC., a Virginia corporation formerly known as Smart Search Labs, Inc.
	 	 	 
	 	By:	/s/ Andrew Perlman 
	 	 	Name: Andrew Perlman
	 	 	Title: Secretary and Chief Operating Officer
	 	 	 
	 	Address for Notices:
	 	c/o Innovate/Protect, Inc.
	 	380 Madison Avenue
	 	22nd Floor
	 	New York, NY 10023
	 	Facsimile: (646) 532-6775

 

Vringo Pledge and Security Agreement

 

    	 

    	 

    

 

	 	VRINGO, LTD., an Israeli corporation
	 	 	 
	 	By:  	/s/ Ellen Cohl 
	 	 	Name:  Ellen Cohl
	 	 	Title: CFO
	 	 	 
	 	Address for Notices:
	 	44 West 28th Street
	 	Suite 1414
	 	New York, NY 10001
	 	Facsimile: (646) 214-7946

 

Vringo Pledge and Security Agreement

 

    	 

    	 

    

 

	ACCEPTED BY:	 
	 	 	 	 
	HUDSON BAY MASTER FUND LTD.,	 
	By: Hudson Bay Capital Management LP, as its Investment Manager
	 	 	 	 
	By:	/s/ Yoav Roth	 
	 	Name:	Yoav Roth	 
	 	Title:	Authorized Signatory	 
	 	Address: 	777 Third Avenue, 30th Floor	 
	 	 	New York, NY 10017Exhibit 10.4

 

AMENDED AND RESTATED GUARANTY

 

AMENDED AND RESTATED
GUARANTY, dated as of July 19, 2012 (this "Guaranty"), made by VRINGO, INC., a Delaware corporation (the
"Company"), and each of its existing "Subsidiaries" (as defined in the Note defined below) as named
on the signature pages hereto (collectively, the "Existing Subsidiaries") and each other Subsidiary of the Company
hereafter becoming party hereto (each individually referred to herein as a "New Subsidiary" and collectively as
the "New Subsidiaries," together with the Company and the Existing Subsidiaries, each a "Guarantor"
and, collectively, the "Guarantor"), in favor of the "Buyer" (as defined below) party to the Note referenced
below.

 

WITNESSETH :

 

WHEREAS, Innovate/Protect,
Inc., a Delaware corporation formerly known as Labrador Search Corporation ("I/P"), and Hudson Bay Master Fund
Ltd. (the "Buyer") are parties to that certain Subscription Agreement, dated as of June 22, 2011 (as amended,
restated or otherwise modified from time to time, the "Subscription Agreement") pursuant to which, among other
things, I/P issued the Senior Secured Note in the original principal amount of $3,200,000 (as amended, restated or otherwise modified
from time to time, the "Note") to the Buyer;

 

WHEREAS, pursuant to
the Guaranty dated as of June 22, 2011 (as amended prior to the date hereof, the "Existing Guaranty"), I/P Engine,
Inc., a Virginia corporation formerly known as Smart Search Labs, Inc. ("I/P Engine"), I/P Labs, Inc., a Delaware
corporation formerly known as Scottish Terrier Capital, Inc. ("I/P Labs" and together with I/P Engine, each individually
referred to herein as an "Existing Guarantor" and collectively as the "Existing Guarantors"),
guaranteed all of the obligations of I/P under, among other things, the Subscription Agreement, the Note and the other "Transaction
Documents" (as defined in the Note), and have agreed to ratify and confirm certain of their guaranty obligations thereunder
pursuant to this amended and restated Guaranty;

 

WHEREAS, the Company,
I/P and VIP Merger Sub, Inc. ("Merger Sub"), a wholly-owned subsidiary of the Company, have entered into that
certain Agreement and Plan of Merger, dated as of March 12, 2012 (the "Merger Agreement") pursuant to which, among
other things, I/P shall be merged with and into Merger Sub (the "Merger Transaction");

 

WHEREAS, the Company,
as part of the Merger Transaction, has agreed to guarantee the obligations of I/P under the Note and the Note Transaction Documents,
and the Company has agreed to cause Vringo, Ltd., an Israeli corporation ("Vringo Israel"), and Vringo Israel
has agreed, to guarantee the obligations of I/P under the Note and the Note Transaction Documents;

 

WHEREAS, pursuant to
an Amended and Restated Pledge and Security Agreement, dated as of the date hereof (as amended, restated or otherwise modified
from time to time, the "Security Agreement"), the Guarantors have granted to the Buyer a security interest in
and lien on their assets to secure their respective obligations under this Guaranty, the Note and the other Note Transaction Documents
(as defined in the Note);

 

    	 

    	 

    

 

WHEREAS, each of the
Existing Guarantors, the Company and each other Guarantor are or will be mutually dependent on each other in the conduct of their
respective businesses as an integrated operation, with the credit needed from time to time by one often being provided through
financing obtained by the other and the ability to obtain such financing being dependent on the successful operations of each of
the Existing Guarantors, the Company and each other Guarantor.

 

NOW, THEREFORE, in consideration
of the premises and the agreements herein and for other consideration, the sufficiency of which is hereby acknowledged, each Guarantor
hereby agrees with the Buyer as follows:

 

SECTION 1. Definitions.
Reference is hereby made to the Note for a statement of the terms thereof. All terms used in this Guaranty, which are defined in
the Note and not otherwise defined herein, shall have the same meanings herein as set forth therein.

 

SECTION 2. Guaranty.
The Guarantors, jointly and severally, hereby unconditionally and irrevocably, guaranty (a) the punctual payment, as and when due
and payable, by stated maturity or otherwise, of all obligations and any other amounts now or hereafter owing by the Company in
respect of it in respect of the Note and the other Note Transaction Documents, including, without limitation, all interest that
accrues after the commencement of any proceeding commenced by or against any the Company or any Guarantor under any provision of
the Bankruptcy Code (Chapter 11 of Title 11 of the United States Code) or under any other bankruptcy or insolvency law, assignments
for the benefit of creditors, formal or informal moratoria, compositions, or extensions generally with creditors, or proceedings
seeking reorganization, arrangement, or other similar relief (an "Insolvency Proceeding"), whether or not the
payment of such interest is unenforceable or is not allowable due to the existence of such Insolvency Proceeding, and any and all
expenses (including reasonable counsel fees and expenses) reasonably incurred by the Buyer in enforcing any rights under this Guaranty
(such obligations, to the extent not paid by the Company, being the "Guaranteed Obligations") and (b) the punctual
and faithful performance, keeping, observance and fulfillment by the Company of all of the agreements, conditions, covenants and
obligations of the Company contained in the Note and the other Note Transaction Documents. Without limiting the generality of the
foregoing, each Guarantor's liability hereunder shall extend to all amounts that constitute part of the Guaranteed Obligations
and would be owed by the Company to the Buyer under the Note but for the fact that they are unenforceable or not allowable due
to the existence of an Insolvency Proceeding involving any Guarantor or the Company (each, a "Transaction
Party").

 

    	- 2 -

    	 

    

 

SECTION 3.       Guaranty
Absolute; Continuing Guaranty; Assignments.

 

(a)         The Guarantors,
jointly and severally, guaranty that the Guaranteed Obligations will be paid strictly in accordance with the terms of the Note
Transaction Documents, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any
of such terms or the rights of the Buyer with respect thereto. The obligations of each Guarantor under this Guaranty are independent
of the Guaranteed Obligations, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce
such obligations, irrespective of whether any action is brought against any Transaction Party or whether any Transaction Party
is joined in any such action or actions. The liability of any Guarantor under this Guaranty shall be irrevocable, absolute and
unconditional irrespective of, and each Guarantor hereby irrevocably waives, to the extent permitted by law, any defenses it may
now or hereafter have in any way relating to, any or all of the following:

 

(i)          any
lack of validity or enforceability of any Note Transaction Document or any agreement or instrument relating thereto;

 

(ii)         any
change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations, or any other
amendment or waiver of or any consent to departure from any Note Transaction Document, including, without limitation, any increase
in the Guaranteed Obligations resulting from the extension of additional credit to any Transaction Party
or otherwise;

 

(iii)        any
taking, exchange, release or non-perfection of any collateral with respect to the Guaranteed Obligations, or any taking, release
or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Guaranteed Obligations; or

 

(iv)        any
change, restructuring or termination of the corporate, limited liability company or partnership structure or existence of any Transaction
Party.

 

This Guaranty shall continue to be effective
or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is rescinded or must otherwise
be returned by the Buyer or any other Person upon the insolvency, bankruptcy or reorganization of any Transaction Party or otherwise,
all as though such payment had not been made.

 

(b)          This Guaranty
is a continuing guaranty and shall (i) remain in full force and effect until the indefeasible payment in full in cash of all obligations
under the Note (together with any matured indemnification obligations as of the date of such payment, but excluding any inchoate
or unmatured contingent indemnification obligations) and payment of all other amounts payable under this Guaranty (excluding any
inchoate or unmatured contingent indemnification obligations) and (ii) be binding upon each Guarantor and its respective successors
and assigns. This Guaranty shall inure to the benefit of and be enforceable by the Buyer and its respective successors, and permitted
pledgees, transferees and assigns. Without limiting the generality of the foregoing sentence, the Buyer may pledge, assign or otherwise
transfer all or any portion of its rights and obligations under and subject to the terms of any Note Transaction Document to any
other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to the Buyer
herein or otherwise, in each case as provided in the other Note Transaction Document.

 

    	- 3 -

    	 

    

 

SECTION 4.          Waivers.
To the extent permitted by applicable law, each Guarantor hereby waives promptness, diligence, notice
of acceptance and any other notice with respect to any of the Guaranteed Obligations and this Guaranty and any requirement that
the Buyer exhausts any right or takes any action against any Transaction Party or any other Person or any Collateral (as defined
in the Security Agreement). Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated herein and that the waiver set forth in this Section 4 is knowingly made in contemplation of such benefits.
The Guarantors hereby waive any right to revoke this Guaranty, and acknowledge that this Guaranty is continuing in nature and
applies to all Guaranteed Obligations, whether existing now or in the future.

 

SECTION 5.         Subrogation.
No Guarantor may exercise any rights that it may now or hereafter acquire against any Transaction Party
or any other guarantor that arise from the existence, payment, performance or enforcement of any Guarantor's obligations under
this Guaranty, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification
and any right to participate in any claim or remedy of the Buyer against any Transaction Party or any other guarantor or any Collateral
(as defined in the Security Agreement), whether or not such claim, remedy or right arises in equity or under contract, statute
or common law, including, without limitation, the right to take or receive from any Transaction Party or any other guarantor, directly
or indirectly, in cash or other property or by set-off or in any other manner, payment or security solely on account of such claim,
remedy or right, unless and until the indefeasible payment in full in cash of all obligations under the Note (together with
any matured indemnification obligations as of the date of such payment, but excluding any inchoate or unmatured contingent indemnification
obligations) and payment of all other amounts payable under this Guaranty (excluding any inchoate or unmatured contingent indemnification
obligations). If any amount shall be paid to a Guarantor in violation of the immediately preceding sentence
at any time prior to the later of the payment in full in cash of the Guaranteed Obligations and all other amounts payable under
this Guaranty, such amount shall be held in trust for the benefit of the Buyer and shall forthwith be paid to the Buyer to be credited
and applied to the Guaranteed Obligations and all other amounts payable under this Guaranty, whether matured or unmatured, in accordance
with the terms of the Note Transaction Document, or to be held as collateral for any Guaranteed Obligations or other amounts payable
under this Guaranty thereafter arising. If (a) any Guarantor shall make payment to the Buyer of all or any part of the Guaranteed
Obligations, and (b) the Buyer receives the indefeasible payment in full in cash of all obligations under the Note
(together with any matured indemnification obligations as of the date of such payment, but excluding any inchoate or unmatured
contingent indemnification obligations) and payment of all other amounts payable under this Guaranty (excluding any inchoate or
unmatured contingent indemnification obligations), the Buyer will, at such Guarantor's request and expense,
execute and deliver to such Guarantor appropriate documents, without recourse and without representation or warranty, necessary
to evidence the transfer by subrogation to such Guarantor of an interest in the Guaranteed Obligations resulting from such payment
by such Guarantor.

 

SECTION 6.         Representations,
Warranties and Covenants.

 

(a)           Each Guarantor
hereby represents and warrants as of the date first written above as follows:

 

    	- 4 -

    	 

    

 

(i)          Each
Guarantor (A) is a corporation, limited liability company or limited partnership duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization as set forth on the signature pages hereto, (B) has all requisite corporate,
limited liability company or limited partnership power and authority to conduct its business as now conducted and as presently
contemplated and to execute and deliver this Guaranty and each other Note Transaction Document to which the
Guarantor is a party, and to consummate the transactions contemplated hereby and thereby and (C) is duly qualified to do
business and is in good standing in each jurisdiction in which the character of the properties owned or leased by it or in which
the transaction of its business makes such qualification necessary except where the failure to be so qualified would not result
in a Material Adverse Effect.

 

(ii)         The
execution, delivery and performance by each Guarantor of this Guaranty and each other Note Transaction
Document to which such Guarantor is a party (A) have been duly authorized by all necessary corporate,
limited liability company or limited partnership action, (B) do not and will not contravene its charter or by-laws, its limited
liability company or operating agreement or its certificate of partnership or partnership agreement, as applicable, or any applicable
law or any contractual restriction binding on the Guarantor or its properties do not and will
not result in or require the creation of any lien (other than pursuant to any Note Transaction Document) upon or with respect to
any of its properties, and (C) do not and will not result in any default, noncompliance, suspension, revocation, impairment, forfeiture
or nonrenewal of any material permit, license, authorization or approval applicable to it or its operations or any of its properties.

 

(iii)        No
authorization or approval or other action by, and no notice to or filing with, any governmental authority is required in connection
with the due execution, delivery and performance by the Guarantor of this Guaranty or any of
the other Note Transaction Documents to which the Guarantor is a party (other than expressly
provided for in any of the Note Transaction Documents).

 

(iv)        Each
of this Guaranty and the other Note Transaction Documents to which the Guarantor is or will be
a party, when delivered, will be, a legal, valid and binding obligation of the Guarantor, enforceable
against the Guarantor in accordance with its terms, except as may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, suretyship or other similar laws and equitable principles, including
those relating to upstream guaranties (regardless of whether enforcement is sought in equity or at law).

 

(v)         There
is no pending or, to the best knowledge of the Guarantor, threatened action, suit or proceeding
against the Guarantor or to which any of the properties of the Guarantor
is subject, before any court or other governmental authority or any arbitrator that (A) if adversely determined, could reasonably
be expected to have a Material Adverse Effect or (B) relates to this Guaranty or any of the other Note Transaction Documents
to which the Guarantor is a party or any transaction contemplated hereby or thereby.

 

(vi)        The
Guarantor (A) has read and understands the terms and conditions of the Note and the other Note Transaction Documents, and (B) now
has and will continue to have independent means of obtaining information concerning the affairs, financial condition and business
of the Company and the other Transaction Parties, and has no need of, or right to obtain from the Buyer, any credit or other information
concerning the affairs, financial condition or business of the Company or the other Transaction Parties that may come under the
control of the Buyer.

 

    	- 5 -

    	 

    

 

SECTION 7.        Right
of Set-off. Upon the occurrence and during the continuance of any Event of Default, the Buyer may, and is hereby authorized
to, at any time and from time to time, without notice to the Guarantors (any such notice being expressly waived by each Guarantor)
and to the fullest extent permitted by law, set-off and apply any and all deposits (general or special, time or demand, provisional
or final) at any time held and other indebtedness at any time owing by the Buyer to or for the credit or the account of any Guarantor
against any and all obligations of the Guarantors now or hereafter existing under this Guaranty or any other Note Transaction
Document, irrespective of whether or not the Buyer shall have made any demand under this Guaranty or any other Note Transaction
Document and although such obligations may be contingent or unmatured. The Buyer agrees to notify the relevant Guarantor promptly
after any such set-off and application made by the Buyer, provided that the failure to give such notice shall not affect the validity
of such set-off and application. The rights of the Buyer under this Section 7 are in addition to other rights and
remedies (including, without limitation, other rights of set-off) which the Buyer may have under this Guaranty or any other Note
Transaction Document in law or otherwise.

 

SECTION 8.        Notices,
Etc. All notices and other communications provided for hereunder shall be in writing and shall be mailed (by overnight mail
or by certified mail, postage prepaid and return receipt requested), telecopied or delivered, if to any Guarantor, to the address
for such Guarantor set forth on the signature page hereto, or if to the Buyer, to it at its respective address set forth in the
Note; or as to any Person at such other address as shall be designated by such Person in a written notice to such other Person
complying as to delivery with the terms of this Section 8. All such notices and other communications shall be effective
(i) if mailed (by certified mail, postage prepaid and return receipt requested), when received or three Business Days after deposited
in the mails, whichever occurs first; (ii) if telecopied, when transmitted and confirmation is received, provided same is on a
Business Day and, if not, on the next Business Day; or (iii) if delivered by hand, upon delivery, provided same is on a Business
Day and, if not, on the next Business Day.

 

SECTION 9.        CONSENT
TO JURISDICTION; SERVICE OF PROCESS AND VENUE. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS GUARANTY OR ANY OTHER NOTE
TRANSACTION DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN THE COUNTY OF NEW YORK OR OF THE UNITED STATES DISTRICT
COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH GUARANTOR HEREBY IRREVOCABLY
ACCEPTS IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. NOTHING HEREIN SHALL
AFFECT THE RIGHT OF THE BUYER TO SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE
PROCEED AGAINST EACH GUARANTOR IN ANY OTHER JURISDICTION. EACH GUARANTOR HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE JURISDICTION OR LAYING OF VENUE OF ANY SUCH LITIGATION
BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO
THE EXTENT THAT ANY GUARANTOR HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS
(WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO
ITSELF OR ITS PROPERTY, EACH GUARANTOR HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS GUARANTY
AND THE OTHER NOTE TRANSACTION DOCUMENTS.

 

    	- 6 -

    	 

    

 

SECTION 10.        WAIVER
OF JURY TRIAL, ETC. EACH GUARANTOR HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM CONCERNING
ANY RIGHTS UNDER THIS GUARANTY OR THE OTHER NOTE TRANSACTION DOCUMENTS, OR UNDER ANY AMENDMENT, WAIVER, CONSENT, INSTRUMENT, DOCUMENT
OR OTHER AGREEMENT DELIVERED OR WHICH IN THE FUTURE MAY BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH, OR ARISING FROM ANY FINANCING
RELATIONSHIP EXISTING IN CONNECTION WITH THIS GUARANTY OR THE OTHER NOTE TRANSACTION DOCUMENTS, AND AGREES THAT ANY SUCH ACTION,
PROCEEDING OR COUNTERCLAIM SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. EACH GUARANTOR CERTIFIES THAT NO OFFICER, REPRESENTATIVE,
AGENT OR ATTORNEY OF THE BUYER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE BUYER WOULD NOT, IN THE EVENT OF ANY ACTION, PROCEEDING
OR COUNTERCLAIM, SEEK TO ENFORCE THE FOREGOING WAIVERS. EACH GUARANTOR HEREBY ACKNOWLEDGES THAT THIS PROVISION IS A MATERIAL INDUCEMENT
FOR THE BUYER ENTERING INTO THE OTHER NOTE TRANSACTION DOCUMENTS.

 

SECTION 11.        Taxes.

 

(a)        All payments
made by any Guarantor hereunder or under any other Note Transaction Document shall be made in accordance with the terms of the
respective Note Transaction Document and shall be made without set-off, counterclaim, deduction or other defense. All such payments
shall be made free and clear of and without deduction for any present or future taxes, levies, imposts, deductions, charges or
withholdings, and all liabilities with respect thereto, excluding taxes imposed on the net income of the Buyer by the jurisdiction
in which the Buyer is organized or where it has its principal lending office (all such nonexcluded taxes, levies, imposts, deductions,
charges, withholdings and liabilities, collectively or individually, "Taxes"). If any Guarantor shall be required
to deduct or to withhold any Taxes from or in respect of any amount payable hereunder or under any other Note Transaction Document:

 

(i)          the
amount so payable shall be increased to the extent necessary so that after making all required deductions and withholdings (including
Taxes on amounts payable to the Buyer pursuant to this sentence) the Buyer receives an amount equal to the sum it would have received
had no such deduction or withholding been made,

 

    	- 7 -

    	 

    

 

(ii)         such
Guarantor shall make such deduction or withholding,

 

(iii)        such
Guarantor shall pay the full amount deducted or withheld to the relevant taxation authority in accordance with applicable law,
and

 

(iv)        as
promptly as possible thereafter, such Guarantor shall send the Buyer an official receipt (or, if an official receipt is not available,
such other documentation as shall be satisfactory to the Buyer) showing payment.  In addition, each Guarantor agrees to pay
any present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies that arise from
any payment made hereunder or from the execution, delivery, registration or enforcement of, or otherwise with respect to, this
Agreement or any other Note Transaction Document (collectively, "Other Taxes").

 

(b)        Each Guarantor
hereby indemnifies and agrees to hold the Buyer harmless from and against Taxes or Other Taxes (including, without limitation,
any Taxes or Other Taxes imposed by any jurisdiction on amounts payable under this Section 11) paid by the Buyer as
a result of any payment made hereunder or from the execution, delivery, registration or enforcement of, or otherwise with respect
to, this Agreement or any other Note Transaction Document, and any liability (including penalties, interest and expenses for nonpayment,
late payment or otherwise) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or
legally asserted.  This indemnification shall be paid within 30 days from the date on which the Holder makes written demand
therefor, which demand shall identify the nature and amount of such Taxes or Other Taxes.

 

(c)        If any Guarantor
fails to perform any of its obligations under this Section 11, such Guarantor shall indemnify the Buyer for any taxes,
interest or penalties that may become payable as a result of any such failure. The obligations of the Guarantors under this Section 11
shall survive the termination of this Guaranty and the payment of the Obligations and all other amounts payable hereunder.

 

SECTION 12.        Miscellaneous.

 

(a)        Each Guarantor
will make each payment hereunder in lawful money of the United States of America and in immediately available funds to Buyer, at
such address specified by Buyer from time to time by notice to the Guarantors.

 

(b)        No amendment
or waiver of any provision of this Guaranty and no consent to any departure by any Guarantor therefrom shall in any event be effective
unless the same shall be in writing and signed by each Guarantor and the Buyer, and then such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given.

 

(c)        No failure
on the part of the Buyer to exercise, and no delay in exercising, any right hereunder or under any other Note Transaction Document
shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder or under any Note Transaction
Document preclude any other or further exercise thereof or the exercise of any other right. The rights and remedies of the Buyer
provided herein and in the other Note Transaction Documents are cumulative and are in addition to, and not exclusive of, any rights
or remedies provided by law. The rights of the Buyer under any Note Transaction Document against any party thereto are not conditional
or contingent on any attempt by the Buyer to exercise any of its rights under any other Note Transaction Document against such
party or against any other Person.

 

    	- 8 -

    	 

    

 

(d)        Any provision
of this Guaranty that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction.

 

(e)        This Guaranty
shall (i) be binding on each Guarantor and its respective successors and assigns, and (ii) inure, together with all rights and
remedies of the Buyer hereunder, to the benefit of the Buyer and its successors, transferees and assigns. Without limiting the
generality of clause (ii) of the immediately preceding sentence, the Buyer may assign or otherwise transfer its rights and obligations
under the Note or any other Note Transaction Document to any other Person in accordance with the terms thereof, and such other
Person shall thereupon become vested with all of the benefits in respect thereof granted to the Buyer herein or otherwise. None
of the rights or obligations of any Guarantor hereunder may be assigned or otherwise transferred without the prior written consent
of the Buyer.

 

(f)        This Guaranty
reflects the entire understanding of the transaction contemplated hereby and shall not be contradicted or qualified by any other
agreement, oral or written, entered into before the date hereof.

 

(g)        Section headings
herein are included for convenience of reference only and shall not constitute a part of this Agreement for any other purpose.

 

(h)        This
Guaranty shall be governed by and construed in accordance with the law of the State of New York applicable to contracts made and
to be performed therein without regard to conflict of law principles.

 

(i)        Each Guarantor
hereby acknowledges and agrees that this Guaranty shall amend, restate, modify, extend, renew and continue the terms and provisions
contained in the Existing Guaranty and shall not extinguish or release such Guarantor from any liability under such Existing Guaranty
or otherwise constitute a novation of the obligations (including, without limitation, the Guaranteed Obligations (as defined in
the Existing Guaranty)) thereunder.

 

(j)        By its execution
and delivery of this Guaranty, the Company and its Subsidiaries hereby agree and covenant (i) to do each of the things set forth
in the Note that I/P agrees and covenants to use its commercially reasonably efforts to cause the Company and its Subsidiaries
to do, (ii) to not do each of the things set forth in the Note that I/P agrees and covenants to use its commercially reasonably
efforts to cause the Company and its Subsidiaries not to do, in each case, fully as though the Company and its Subsidiaries were
a party thereto, and such agreements and covenants are incorporated herein by this reference, mutatis mutandis, and (iii) all payments
due under this Guaranty shall be senior to all other Indebtedness of the Company and its Subsidiaries other than Permitted Senior
Indebtedness.

 

[REMAINDER OF THIS PAGE INTENTIONALLY
LEFT BLANK]

 

    	- 9 -

    	 

    

 

IN WITNESS WHEREOF, each
Guarantor has caused this Guaranty to be executed by its respective duly authorized officer, as of the date first above written.

 

	 	VRINGO, INC., a Delaware corporation
	 	 
	 	By:	/s/ Andrew Perlman
	 	 	Name: Andrew Perlman
	 	 	Title: CEO

 

	 	Address for Notices:
	 	44 West 28th Street
	 	Suite 1414
	 	New York, NY 10001
	 	Facsimile: (646) 214-7946

 

	 	I/P LABS, INC., a Delaware corporation

 formerly known as Scottish Terrier Capital, Inc.
	 	 
	 	By:	/s/ Alexander R. Berger
	 	 	Name: Alexander R. Berger
	 	 	Title: Secretary and Chief Operating Officer

 

	 	Address for Notices:
	 	c/o Innovate/Protect, Inc.
	 	380 Madison Avenue
	 	22nd Floor
	 	New York, NY 10023
	 	Facsimile: (646) 532-6775

 

Vringo Guaranty

 

    	 

    	 

    

 

	 	I/P ENGINE, INC., a Virginia corporation

formerly known as Smart Search Labs, Inc.
	 	 	 
	 	By:	/s/ Alexander R. Berger 
	 	 	Name: Alexander R. Berger
	 	 	Title: Secretary and Chief Operating Officer

 

	 	Address for Notices:
	 	c/o Innovate/Protect, Inc.
	 	380 Madison Avenue
	 	22nd Floor
	 	New York, NY 10023
	 	Facsimile: (646) 532-6775

 

	 	VRINGO, LTD., an Israeli corporation
	 	 	 
	 	By:	/s/ Ellen Cohl
	 	 	Name: Ellen Cohl
	 	 	Title: CFO

 

	 	Address for Notices:
	 	44 West 28th Street
	 	Suite 1414
	 	New York, NY 10001
	 	Facsimile: (646) 214-7946

 

Vringo Guaranty

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