Document:

BBM
      HOLDINGS, INC.

     

    COMMON
      STOCK PURCHASE WARRANT

     

    
      	
              Warrant
                No. SZH-001

            	
              5,000,000
                Warrants

            

    

     

    VOID
      AFTER 5:00 P.M. NEW YORK CITY TIME

    ON
      JANUARY __, 2014

     

    THE
      SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE BEEN ACQUIRED FOR INVESTMENT
      AND
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
      “SECURITIES
      ACT”),
      AND,
      ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
      EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH APPLICABLE STATE
      SECURITIES LAWS OR BLUE SKY LAWS.

     

    BBM
      Holdings, Inc. (the “Company”),
      a
      Utah corporation, having its principal office as of the date hereof at 1245
      Brickyard Road, Suite 590, Salt Lake City, Utah 84106, hereby certifies that,
      for value received, Shalom Hirschman, or registered assigns, is entitled,
      subject to the terms and conditions set forth below, to purchase from the
      Company at any time on or from time to time after January __, 2009
      (“Original
      Issue Date”),
      and
      before 5:00 P.M., New York City time, on January __, 2014 (the “Expiration
      Date”),
      up to
      5,000,000 fully paid and non-assessable shares of Common Stock (as defined
      below), at the initial Purchase Price per share (as defined below) of $0.50.
      The
      number of such shares of Common Stock and the Purchase Price per share are
      subject to adjustment as provided in Section 5.

     

    1. Definitions.

     

    As
      used
      herein the following terms, unless the context otherwise requires, have the
      following respective meanings:

     

    “Aggregate
      Purchase Price”
has
      the
      meaning set forth in Section 3.1.

     

    “Blue
      Sky Laws”
means
      any state securities or “blue sky” laws.

     

    “Board
      of Directors”
means
      the board of directors of the Company.

     

    “Business
      Day”
means
      any day other than Saturday, Sunday or other day on which commercial banks
      in
      the City of New York are authorized or required by law to remain
      closed.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Company”
      includes the Company and any corporation, association, joint stock company,
      business trust, limited liability company or other similar organization, which
      shall succeed to or assume the obligations of the Company hereunder.

     

    “Common
      Stock”
means
      the Company’s Common Stock, $.0001 par value per share, authorized as of the
      date hereof, and any stock of any class or classes (however designated)
      hereafter authorized upon reclassification thereof, which, if the Board of
      Directors declares any dividends or distributions, has the right to participate
      in the distribution of earnings and assets of the Company after the payment
      of
      dividends or other distributions on any shares of capital stock of the Company
      entitled to a preference and in the voting for the election of directors of
      the
      Company. 

     

    “Delivery
      Date”
has
      the
      meaning set forth in Section 4.

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934 as the same shall be in effect at the
      time.

     

    “Expiration
      Date”
has
      the
      meaning set forth in the preface above.

     

    “Holder”
means
      any record owner of Warrants or Underlying Securities.

     

    “Market
      Price”
means,
      for one share of Common Stock at any date (i) if the principal trading market
      for the Common Stock is an exchange, the average of the closing sale prices
      per
      Share for the last twenty (20) previous trading days in which a sale was
      reported, as officially reported on any consolidated tape, (ii) if the principal
      market for such securities is the over-the-counter market, the average of the
      closing sale prices per Share on the last twenty (20) previous trading days
      in
      which a sale was reported as set forth by Nasdaq or, (iii) if the security
      is
      not listed on an exchange, the average of the closing sale prices per share
      on
      the last twenty (20) previous trading days in which a sale was reported as
      set
      forth in the National Quotation Bureau sheet listing such securities for such
      days. Notwithstanding the foregoing, if there is no reported closing sale price,
      as the case may be, reported on any of the twenty (20) trading days preceding
      the event requiring a determination of Market Price hereunder, then the Market
      Price shall be the average of the high bid and asked prices for the last ten
      previous trading days in which a sale was reported; and if there is no reported
      high bid and asked prices, as the case may be, reported on any of the ten
      trading days preceding the event requiring a determination of Market Price
      hereunder, then the Market Price shall be determined in good faith by resolution
      of the Board of Directors. The Market Price of Other Securities, if any, shall
      be determined in the same manner as Common Stock.

     

    “Nasdaq”
means
      the Nasdaq Global Market, Nasdaq Global Select Market or Nasdaq Capital
      Market.

     

    “Notice”
has
      the
      meaning set forth in Section 21. 

     

    “Original
      Issue Date”
has
      the
      meaning set forth in the preface above.

     

    
      
        
        

      

      
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    “Other
      Securities”
refers
      to any stock (other than Common Stock) and other securities of the Company
      or
      any other Person (corporate or otherwise) which the Holders of the Warrants
      at
      any time shall be entitled to receive, or shall have received, upon the exercise
      of the Warrants, in lieu of or in addition to Common Stock, or which at any
      time
      shall be issuable or shall have been issued in exchange for or in replacement
      of
      Common Stock or Other Securities pursuant to Section 5 or 6. 

     

    “Permitted
      Transfer”
means
      a
      transfer by a Holder (i) by gift to his or her spouse or to the siblings, lineal
      descendants, or parents of such Holder or of his or her spouse or to any entity
      of which such Person or Persons are the sole beneficiaries; (ii) in the
      case of any Holder that is a trust, to a successor trustee or trustees of any
      trust established for one or more of the persons specified in
      clause (i) above; and (iii) upon the death of a Holder who is a
      natural person, to such Holder's heirs, executors, administrators, testamentary
      trustees, legatees or beneficiaries.

     

    “Person”
means
      any individual, sole proprietorship, partnership, corporation, limited liability
      company, business trust, unincorporated association, joint stock corporation,
      trust, joint venture or other entity, any university or similar institution,
      or
      any government or any agency or instrumentality or political subdivision
      thereof.

     

    “Purchase
      Price per share”
means
      $0.50 per share, as may be adjusted from time to time in accordance with Section
      5 or 6.

     

    “Registered”
and
      “Registration”
refer
      to a registration effected by filing a registration statement in compliance
      with
      the Securities Act, to permit the disposition of Underlying Securities issued
      or
      issuable upon the exercise of Warrants, and any post-effective amendments and
      supplements filed or required to be filed to permit any such
      disposition.

     

    “Restated
      Certificate”
means
      an amendment to the Certificate of Incorporation of the Company prepared for
      filing in the State of Delaware which provides for an increase in the authorized
      capital shares of the Company.

     

    “Securities
      Act”
means
      the Securities Act of 1933 as the same shall be in effect at the
      time.

     

    “Underlying
      Securities”
means
      any Common Stock or Other Securities issued or issuable upon exercise of
      Warrants.

     

    “Warrant”
means,
      as applicable, (i) the Warrants dated as of the date hereof, originally issued
      by the Company to its directors, of which this Warrant is one, evidencing rights
      to purchase up to a maximum of 5,000,000 shares of Common Stock, and all
      Warrants issued upon transfer, division or combination of, or in substitution
      for, any thereof (all Warrants shall at all times be identical as to terms
      and
      conditions and date, except as to the number of shares of Common Stock for
      which
      they may be exercised) or (ii) each right as set forth in this Warrant to
      purchase one share of Common Stock, as adjusted from time to time in accordance
      with Section 5 or 6.

     

    2. Sale
      or Exercise Without Registration.
      If, at
      the time of any exercise, transfer or surrender for exchange of a Warrant or
      of
      Underlying Securities previously issued upon the exercise of Warrants, such
      Warrant or Underlying Securities shall not be registered under the Securities
      Act, the Company may require, as a condition of allowing such exercise, transfer
      or exchange, that the Holder or transferee of such Warrant or Underlying
      Securities, as the case may be, furnish to the Company an opinion of counsel,
      reasonably satisfactory to the Company, to the effect that such exercise,
      transfer or exchange may be made without registration under the Securities
      Act
      and without registration or qualification under any applicable Blue Sky Laws.
      

     

    
      
        
        

      

      
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    3. Exercise
      of Warrant.
      

     

    3.1. Exercise
      in Full.
      Subject
      to the provisions hereof, this Warrant may be exercised by the Holder hereof
      by
      surrender of this Warrant, with the form of subscription at the end hereof
      duly
      executed by such Holder, to the Company at its principal office as set forth
      at
      the head of this Warrant (or such other location as the Company from time to
      time may advise the Holder in writing), accompanied by payment, in cash or
      by
      certified or official bank check payable to the order of the Company, in the
      amount obtained (the “Aggregate
      Purchase Price”)
      by
      multiplying (a) the number of shares of Common Stock then issuable upon exercise
      of this Warrant by (b) the Purchase Price per share on the date of such
      exercise.

     

    3.2. Partial
      Exercise.
      Subject
      to the provisions hereof, this Warrant may be exercised in part by surrender
      of
      this Warrant in the manner and at the place provided in Section 3.1 except
      that
      the amount payable by the Holder upon any partial exercise shall be the amount
      obtained by multiplying (a) the number of shares of Common Stock designated
      by
      the Holder in the subscription at the end hereof by (b) the Purchase Price
      per
      share on the date of such exercise. Upon any such partial exercise, the Company
      at its expense shall forthwith issue and deliver to or upon the order of the
      Holder hereof a new Warrant or Warrants of like tenor, in the name of the Holder
      hereof or as such Holder (upon payment by such Holder of any applicable transfer
      taxes and subject to the provisions of Section 2) may request, calling in the
      aggregate on the face or faces thereof for the number of shares of Common Stock
      equal to the number of such shares issuable prior to such partial exercise
      of
      this Warrant minus the number of such shares designated by the Holder in the
      subscription at the end hereof.

     

    3.3. Company
      to Reaffirm Obligations.
      The
      Company shall, at the time of any exercise of this Warrant, upon the request
      of
      the Holder hereof, acknowledge in writing its continuing obligation to afford
      to
      such Holder any rights (including, without limitation, any right to registration
      of the Underlying Securities, if any) to which such Holder shall continue to
      be
      entitled after such exercise in accordance with the provisions of this Warrant;
      provided,
      however, that if the Holder of this Warrant shall fail to make any such request,
      such failure shall not affect the continuing obligation of the Company to afford
      such Holder any such rights.

     

    3.4. Certain
      Exercises.
      If an
      exercise of this Warrant is to be made in connection with a registered public
      offering or sale of the Company, such exercise may, at the election of the
      Holder, be conditioned on the consummation of the public offering or sale of
      the
      Company, in which case such exercise shall not be deemed effective until the
      consummation of such transaction.

     

    
      
        
        

      

      
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    3.5. Net
      Issue Exercise.
      This
      Warrant may also be exercised at such time by means of a “Net Issue Exercise” in
      which the Holder shall be entitled to receive Underlying Securities equal to
      the
      value of this Warrant (or the portion thereof being exercised by Net Issue
      Exercise) by surrender of this Warrant to the Company together with notice
      of
      such Net Issue Exercise, in which event the Company shall issue to Holder a
      number of Underlying Securities computed as of the date of surrender of this
      Warrant to the Company using the following formula:

     

    X
      =
Y
      x
      (A-B)

    A

    Where:

     

    
      	 	
              X
                =

            	
              the
                number of Underlying Securities to be issued to Holder pursuant to
                this
                Section 3.5;

            

    

     

    
      	 	
              Y
                =

            	
              the
                number of Underlying Securities otherwise purchasable under this
                Warrant,
                or any lesser number of Underlying Securities as to which this Warrant
                is
                being exercised (at the date of such
                calculation);

            

    

     

    
      	 	
              A
                =
                

            	
              the
                Market Price (at the date of such
                calculation);

            

    

     

    
      	 	
              B
                =

            	
              the
                Purchase Price (as adjusted to the date of such
                calculation).

            

    

     

    4. Delivery
      of Stock Certificates, etc., on Exercise. 

     

    4.1. Delivery
      of Certificates.
      As soon
      as practicable after the exercise of this Warrant in full or in part, and in
      any
      event within ten Business Days thereafter (the “Delivery
      Day”),
      the
      Company at its own expense (including the payment by it of any applicable issue
      taxes) shall cause to be issued in the name of and delivered to the Holder
      hereof, or as such Holder (upon payment by such Holder of any applicable
      transfer taxes and subject to the provisions of Section 2) may direct, a
      certificate or certificates for the number of fully paid and non-assessable
      shares of Common Stock or Other Securities to which such Holder shall be
      entitled upon such exercise, plus, in lieu of any fractional share to which
      such
      Holder would otherwise be entitled, cash equal to such fraction multiplied
      by
      the then current Market Price of one full share.

     

    4.2. Issuance
      of Certificates.
      If the
      Company fails to deliver to the Holder a certificate or certificates
      representing the Underlying Securities by the third (3rd) trading day following
      the Delivery Date (or such longer or shorter time is then required by the SEC
      regulations on the settlement of trades), then the Holder will have the right
      to
      rescind such exercise. Nothing herein shall limit a Holder's right to pursue
      any
      other remedies available to it hereunder, at law or in equity including, without
      limitation, a decree of specific performance or injunctive relief with respect
      to the Company's failure to timely deliver certificates representing Underlying
      Securities upon exercise of the Warrant as required pursuant to the terms
      hereof.

     

    
      
        
        

      

      
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    5. Adjustment
      for Stock Splits; Dividends.
      The
      number and kind of securities purchasable upon the exercise of this Warrant
      and
      the Purchase Price shall be subject to adjustment from time to time upon the
      happening of any of the following. In case the Company shall (i) pay a dividend
      in shares of Common Stock or make a distribution in shares of Common Stock
      to
      holders of its outstanding Common Stock, (ii) subdivide its outstanding shares
      of Common Stock into a greater number of shares, (iii) combine its outstanding
      shares of Common Stock into a smaller number of shares of Common Stock, or
      (iv)
      issue any shares of its capital stock in a reclassification of the Common Stock,
      then the number of Underlying Securities purchasable upon exercise of this
      Warrant immediately prior thereto shall be adjusted so that the Holder shall
      be
      entitled to receive the kind and number of Underlying Securities or other
      securities of the Company which it would have owned or have been entitled to
      receive had such Warrant been exercised in advance thereof Upon each such
      adjustment of the kind and number of Underlying Securities or other securities
      of the Company which are purchasable hereunder, the Holder shall thereafter
      be
      entitled to purchase the number of Underlying Securities or other securities
      resulting from such adjustment at a Purchase Price per share or other security
      obtained by multiplying the Purchase Price per share in effect immediately
      prior
      to such adjustment by the number of Underlying Securities purchasable pursuant
      hereto immediately prior to such adjustment and dividing by the number of
      Underlying Securities or other securities of the Company resulting from such
      adjustment. An adjustment made pursuant to this paragraph shall become effective
      immediately after the effective date of such event retroactive to the record
      date, if any, for such event. 

     

    6. Reorganization,
      Consolidation, Merger, etc.
      In case
      the Company shall reorganize its capital, reclassify its capital stock,
      consolidate or merge with or into another corporation (where the Company is
      not
      the surviving corporation or where there is a change in or distribution with
      respect to the Common Stock of the Company), or sell, transfer or otherwise
      dispose of its property, assets or business to another corporation and, pursuant
      to the terms of such reorganization, reclassification, merger, consolidation
      or
      disposition of assets, shares of common stock of the successor or acquiring
      corporation, or any cash, shares of stock or other securities or property of
      any
      nature whatsoever (including warrants or other subscription or purchase rights)
      in addition to or in lieu of common stock of the successor or acquiring
      corporation (“Other
      Property”),
      are
      to be received by or distributed to the holders of Common Stock of the Company,
      then the Holder shall have the right thereafter to receive upon exercise of
      this
      Warrant, the number of shares of common stock of the successor or acquiring
      corporation or of the Company, if it is the surviving corporation, and Other
      Property receivable upon or as a result of such reorganization,
      reclassification, merger, consolidation or disposition of assets by a Holder
      of
      the number of shares of Common Stock for which this Warrant is exercisable
      immediately prior to such event. In case of any such reorganization,
      reclassification, merger, consolidation or disposition of assets, the successor
      or acquiring corporation (if other than the Company) shall expressly assume
      the
      due and punctual observance and performance of each and every covenant and
      condition of this Warrant to be performed and observed by the Company and all
      the obligations and liabilities hereunder, subject to such modifications as
      may
      be deemed appropriate (as determined in good faith by resolution of the Board
      of
      Directors of the Company) in order to provide for adjustments of Underlying
      Securities for which this Warrant is exercisable which shall be as nearly
      equivalent as practicable to the adjustments provided for in this Section 6.
      For
      purposes of this Section 6, “common stock of the successor or acquiring
      corporation” shall include stock of such corporation of any class which is not
      preferred as to dividends or assets over any other class of stock of such
      corporation and which is not subject to redemption and shall also include any
      evidences of indebtedness, shares of stock or other securities which are
      convertible into or exchangeable for any such stock, either immediately or
      upon
      the arrival of a specified date or the happening of a specified event and any
      warrants or other rights to subscribe for or purchase any such stock. The
      foregoing provisions of this Section 6 shall similarly apply to successive
      reorganizations, reclassifications, mergers, consolidations or disposition
      of
      assets.

     

    
      
        
        

      

      
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    7. Further
      Assurances; Reports.
      The
      Company shall take all such action as may be necessary or appropriate in order
      that the Company may validly and legally issue fully paid and non-assessable
      shares of Underlying Securities upon the exercise of all Warrants from time
      to
      time outstanding. For so long as the Holder holds this Warrant, the Company
      shall deliver to the Holder contemporaneously with delivery to the holders
      of
      Common Stock, a copy of each report of the Company delivered to such
      holders.

     

    8. Certificate
      as to Adjustments.
      In each
      case of any adjustment or readjustment in the Underlying Securities, the Company
      shall, at its expense, promptly cause its Chief Financial Officer to compute
      such adjustment or readjustment in accordance with the terms of this Warrant
      and
      prepare a certificate setting forth such adjustment or readjustment and showing
      in detail the facts upon which such adjustment or readjustment is based, and
      the
      number of shares of Common Stock or Other Securities outstanding or deemed
      to be
      outstanding. The Company shall forthwith mail a copy of each such certificate
      to
      the Holder. 

     

    9. Notices
      of Record Date, etc.
      In the
      event of

     

    (a) any
      taking by the Company of a record of its stockholders for the purpose of
      determining the stockholders thereof who are entitled to receive any dividend
      or
      other distribution, or any right to subscribe for, purchase or otherwise acquire
      any shares of stock of any class or any other securities or property, or to
      receive any other right, or for the purpose of determining stockholders who
      are
      entitled to vote in connection with any proposed capital reorganization of
      the
      Company, any reclassification or recapitalization of the capital stock of the
      Company or any transfer of all or substantially all the assets of the Company
      to
      or consolidation or merger of the Company with or into any other Person,
      or

     

    (b) any
      voluntary or involuntary dissolution, liquidation or winding-up of the
      Company,

     

    then
      and
      in each such event the Company shall mail or cause to be mailed to each Holder
      of a Warrant a notice specifying (i) the date on which any such record is to
      be
      taken for the purpose of such dividend, distribution or right, and stating
      the
      amount and character of such dividend, distribution or right and (ii) the date
      on which any such reorganization, reclassification, recapitalization, transfer,
      consolidation, merger, dissolution, liquidation or winding-up is to take place,
      and the time, if any, as of which the Holders of record of Underlying Securities
      shall be entitled to exchange their shares of Underlying Securities for
      securities or other property deliverable upon such reorganization,
      reclassification, recapitalization, transfer, consolidation, merger,
      dissolution, liquidation or winding-up. Such notice shall be mailed at least
      twenty (20) days prior to the date therein specified.

     

    
      
        
        

      

      
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    10. Reservation
      of Stock, etc., Issuable on Exercise of Warrants.
      The
      Company shall at all times on and after the filing of the Restated Certificate
      reserve and keep available, solely for issuance and delivery upon the exercise
      of the Warrants, all shares of Common Stock (or Other Securities) from time
      to
      time issuable upon the exercise of the Warrants.

     

    11. Listing
      on Securities Exchanges; Registration; Issuance of Certain
      Securities.
      In
      furtherance and not in limitation of any other provision of this Warrant, if
      the
      Company at any time shall list any Common Stock (or Other Securities) on any
      national securities exchange or Nasdaq, the Company shall, at its expense,
      simultaneously list the Underlying Securities from time to time issuable upon
      the exercise of the Warrants on such exchange or Nasdaq, as the case may be,
      upon official notice of issuance.

     

    12. Exchange
      of Warrants.
      Subject
      to the provisions of Section 2, upon surrender for exchange of this Warrant,
      properly endorsed, to the Company, as soon as practicable (and in any event
      within three Business Days) the Company at its own expense shall issue and
      deliver to or upon the order of the Holder thereof a new Warrant or Warrants
      of
      like tenor, in the name of such Holder or as such Holder (upon payment by such
      Holder of any applicable transfer taxes) may direct, calling in the aggregate
      on
      the face or faces thereof for the number of shares of Common Stock called for
      on
      the face of this Warrant so surrendered.

     

    13. Replacement
      of Warrants.
      Upon
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant and, in the case of any such loss,
      theft or destruction, upon delivery of an indemnity agreement reasonably
      satisfactory in form and amount to the Company or, in the case of any such
      mutilation, upon surrender and cancellation of this Warrant, the Company at
      its
      expense shall execute and deliver, in lieu thereof, a new Warrant of like
      tenor.

     

    14. Warrant
      Agent.
      The
      Company may, by written notice to each Holder of a Warrant, appoint an agent
      having an office in New York, New York, for the purpose of issuing Common Stock
      (or Other Securities) upon the exercise of the Warrants pursuant to Section
      3,
      exchanging Warrants pursuant to Section 13, and replacing Warrants pursuant
      to
      Section 14, or any of the foregoing, and thereafter any such issuance, exchange
      or replacement, as the case may be, shall be made at such office by such
      agent.

     

    15. Remedies.
      The
      Company stipulates that the remedies at law of the Holder of this Warrant in
      the
      event of any default or threatened default by the Company in the performance
      of
      or compliance with any of the terms of this Warrant may not be adequate, and
      that such terms may be specifically enforced by a decree for the specific
      performance of any agreement contained herein or by an injunction that may
      be
      sought against a violation of any of the terms hereof or otherwise.

     

    16. No
      Rights as Stockholder.
      This
      Warrant does not entitle the Holder hereof to any voting rights or other rights
      as a stockholder of the Company prior to the exercise hereof. 

     

    
      
        
        

      

      
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    17. Negotiability,
      etc.
      Subject
      to Section 2, this Warrant is transferable only by Permitted
      Transfer.

     

    18. Entire
      Agreement; Successors and Assigns.
      This
      Warrant constitutes the entire contract between the parties relative to the
      subject matter hereof. This Warrant supersedes any previous agreement among
      the
      parties with respect to the subject matter hereof. The terms and conditions
      of
      this Warrant shall inure to the benefit of and be binding upon the respective
      permitted executors, administrators, heirs, successors and assigns of the
      parties. Nothing in this Warrant, expressed or implied, is intended to confer
      upon any party, other than the Holder and the Company, any rights, remedies,
      obligations or liabilities under or by reason of this Warrant.

     

    19. Governing
      Law; Jurisdiction.
      This
      Warrant shall be governed by and construed in accordance with the laws of the
      State of New York without regard to principles of conflicts of law. Each of
      the
      Holder and the Company hereby irrevocably consents and submits to the
      jurisdiction of any New York State or United States Federal Court sitting in
      the
      State of New York, County of New York, over any action or proceeding arising
      out
      of or relating to this Warrant and irrevocably consents to the service of any
      and all process in any such action or proceeding in the manner for the giving
      of
      notices at its address specified in Section 22. Each of the Holder and the
      Company further waives any objection to venue in the State of New York, County
      of New York and any objection to an action or proceeding in such state and
      county on the basis of forum
      non conveniens.
      Each of
      the Holder and the Company also waives any right to trial by jury.

     

    20. Headings.
      The
      headings of the sections of this Warrant are for convenience and shall not
      by
      themselves determine the interpretation of this Warrant.

     

    21. Notices.
      Any
      notice or other communication required or permitted to be given hereunder (each
      a “Notice”)
      shall
      be given in writing and shall be made by personal delivery or sent by courier
      or
      certified or registered first-class mail (postage pre-paid), addressed to a
      party at its address shown below or at such other address as such party may
      designate by three days’ advance Notice to the other party. 

     

    Any
      Notice to the Holder shall be sent to the address for such Holder set forth
      on
      books and records of the Company.

     

    Any
      Notice to the Company shall be sent to:

     

    BBM
      Holdings, Inc.

    1245
      Brickyard Road, Suite 590

    Salt
      Lake
      City, Utah 84106

    Attention:
      Chief Executive Officer

    

    Each
      Notice shall be deemed given and effective upon receipt (or refusal of
      receipt).

     

    22. Severability.
      Whenever possible, each provision of this Warrant shall be interpreted in such
      a
      manner as to be effective and valid under applicable law, but if any provision
      of this Warrant shall be deemed prohibited or invalid under such applicable
      law,
      such provision shall be ineffective to the extent of such prohibition or
      invalidity, and such prohibition or invalidity shall not invalidate the
      remainder of such provision or any other provision of this Warrant.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    23. Amendments
      and Waivers.
      Any
      provision of this Warrant may be amended and the observance of any provision
      of
      this Warrant may be waived (either generally or in a particular instance and
      either retroactively or prospectively), only with the written consent of the
      Company and the Holders of a majority of the Warrants then outstanding. Any
      amendment or waiver effected in accordance with this Section 24 shall be binding
      upon each Holder of a Warrant.

     

    24. Construction.
      Words
      (including capitalized terms defined herein) in the singular shall be held
      to
      include the plural and vice versa as the context requires. The words
“herein”,
      “hereinafter”,
      “hereunder”
and
      words of similar import used in this Warrant shall, unless otherwise stated,
      refer to this Warrant as a whole and not to any particular provision of this
      Warrant. All references to “$” in this Warrant and the other agreements
      contemplated hereby shall refer to United States dollars (unless otherwise
      specified expressly). Any reference to any gender includes the other
      genders.

     

    Dated:
      January __, 2009

     

    
      	
              BBM
                HOLDINGS, INC.

            
	 	 
	
              By:

            	
               

            
	
              Name:
                Andrew Limpert

            
	
              Title:
                President and CEO

            

    

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    FORM
      OF
      SUBSCRIPTION

     

    (To
      be
      signed only upon exercise of Warrant)

     

    To:
      BBM
      HOLDINGS, INC.

     

    The
      undersigned, the Holder of the within Warrant, hereby irrevocably elects to
      exercise the purchase right represented by such Warrant for, and to purchase
      thereunder,        * shares of Common Stock
      of BBM Holdings, Inc., and herewith makes payment of $__________ or, subject
      to
      satisfaction of the conditions set forth in Section 3.5 of the Warrant, [by
      initial here _____] Holder elects to exercise under the Net Issue Exercise
      provisions of Section 1.4 of the Warrant, and requests that the certificates
      for
      such shares be issued in the name of, and delivered to, ___________________,
      whose address is _______________________.

     

    The
      undersigned represents that the undersigned is acquiring such securities for
      its
      own account for investment and not with a view to or for sale in connection
      with
      any distribution thereof (except for any resale pursuant to, and in accordance
      with a valid registration statement effective under the Securities Act of 1933,
      as amended).

     

    Dated:

     

    
      	
               

            
	
              (Signature
                must conform in all respects to the name of the Holder as specified
                on the
                face of the Warrant)

            
	 
	
               

            
	
              (Address)

            

    

    

    *
      Insert
      here the number of shares called for on the face of the Warrant (or, in the
      case
      of a partial exercise, the portion thereof as to which the Warrant is being
      exercised).

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    FORM
      OF
      ASSIGNMENT

     

    (To
      be
      signed by the Holder only upon transfer of Warrant)

    

    For
      value
      received, the undersigned hereby sells, assigns and transfers unto
      _________________________ the right represented by the within Warrant to
      purchase _________ shares of Common Stock of BBM Holdings, Inc. to which the
      within Warrant relates, and hereby does irrevocably constitute and appoint
      ______________________________ Attorney to transfer such right on the books
      of
      BBM Holdings, Inc. with full power of substitution in the premises. The Warrant
      being transferred hereby is one of the Warrants issued by BBM Holdings, Inc.
      as
      of November 12, 2008.

     

    Dated:_______________

     

    
      	
               

            
	
              (Signature
                must conform in all respects to name of Holder as specified on the
                face of
                the Warrant)

            
	 
	 
	
              (Address)

            

    

    

    
      	
               

            
	
              Medallion
                signature guaranteed by a bank or trust company having its principal
                office in New York City or by a Member Firm of the New York Stock
                Exchange
                or American Stock Exchange

            

    

    

    
      
        
        

      

      
        12BBM
      HOLDINGS, INC.

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    REGISTRATION
      RIGHTS AGREEMENT (this “Agreement”)
      is
      entered into as of January __, 2009 by and among BBM Holdings, Inc., a Utah
      corporation (the “Company”)
      and
      Dr. Shalom Hirschman (“SH”).

     

    WHEREAS,
      the Company and SH desire to enter into that certain Agreement for Purchase
      and
      Sale of Assets (the “Asset
      Purchase Agreement”),
      whereby the Company will purchase certain assets of SH in exchange for the
      issuance of a warrant (the “Warrant”);

     

    WHEREAS,
      the terms of the Asset Purchase Agreement provide that it shall be a condition
      precedent to the closing of the transactions thereunder for the Company and
      SH
      to execute and deliver this Agreement; and

     

    WHEREAS,
      capitalized terms used herein and not otherwise defined are defined in the
      Asset
      Purchase Agreement.

     

    NOW,
      THEREFORE, in consideration of the premises and mutual covenants contained
      herein, the parties hereto hereby agree as follows:

     

    1. Definitions.
      The
      following terms shall have the meanings provided below:

     

    “Blue
      Sky”
shall
      have the meaning assigned thereto in Section 3(d)(vi) hereof. 

     

    “Common
      Stock”
shall
      mean the common stock, $.0001 par value, of the Company authorized as of the
      date hereof.

     

    “Correspondence”
shall
      have the meaning assigned thereto in Section 7(d) hereof.

     

    “Exchange
      Act”
shall
      mean the Securities Exchange Act of 1934, as amended, and all of the rules
      and
      regulations promulgated thereunder.

     

    “Holder”
shall
      mean SH. 

     

    “Nasdaq”
means
      the Nasdaq Global Market, Nasdaq Global Select Market or Nasdaq Capital
      Market.

     

    “Other
      Registrable Securities”
      shall
      have the meaning assigned thereto in Section 8.

     

    “Own”
shall
      mean to own beneficially, as that term is defined in the rules and regulations
      of the SEC. 

     

    “Permitted
      Transfer”
means
      a
      transfer by SH (i) by gift to his or her spouse or to the siblings, lineal
      descendants, or parents of SH or of his spouse or to any entity of which such
      Person or Persons are the sole beneficiaries; (ii) in the case of any
      transferee under clause (i) that is a trust, to a successor trustee or trustees
      of any trust established for one or more of the persons specified in
      clause (i) above; and (iii) upon the death of SH, to SH's heirs,
      executors, administrators, testamentary trustees, legatees or
      beneficiaries.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “QPO”
      shall
      mean a firm commitment underwritten public offering of shares of Common Stock
      with gross proceeds of at least $8 million.

     

    “Registrable
      Shares”
shall
      mean the shares of Common Stock of the Company issuable to Holder pursuant
      to
      the terms of the Warrant.

     

    “Registration”
shall
      have the meaning assigned thereto in Section 3(a) hereof.

     

    “Registration
      Expenses”
shall
      mean all expenses incurred in connection with the registration of the
      Registrable Shares pursuant to this Agreement, including without limitation
      all
      registration and qualification and filing fees, printing expenses, fees and
      disbursements of counsel for the Company, and the reasonable fees and
      disbursements of counsel for the selling Holders.

     

    “Rule
      144”
shall
      mean Rule 144 promulgated under the Securities Act and any successor or
      substitute rule, law or provision.

     

    “SEC”
shall
      mean the Securities and Exchange Commission.

     

    “Securities
      Act”
shall
      mean the Securities Act of 1933, as amended, and all of the rules and
      regulations promulgated thereunder.

     

    “Selling
      Expenses”
shall
      mean all underwriting discounts, brokerage and selling commissions applicable
      to
      the sale of Registrable Shares, including customary underwriters’
cutbacks.

     

    “Subsequent
      Registration Statements”
      shall
      have the meaning assigned thereto in Section 3(k).

     

    2. Effectiveness.
      This
      Agreement shall become effective upon the Closing of the Asset Purchase
      Agreement.

     

    3. Incidental
      Registration.

     

    (a)
      Filing
      of Registration Statement.
      If the
      Company at any time proposes to register any of its Common Stock (a
“Registration”)
      under
      the Securities Act (other than pursuant to a QPO or a registration statement
      on
      Form S-4 or Form S-8 or any successor forms thereto, in connection with an
      offer
      made solely to existing securityholders or employees of the Company), for sale
      to the public, it will, on each such occasion, give prompt written notice to
      all
      Holders of its intention to do so, which notice shall be given to the Holder
      at
      least thirty (30) days prior to the date that a registration statement relating
      to such registration is proposed to be filed with the SEC. Upon the written
      request of the Holder to include the Registrable Shares under such registration
      statement (which request shall be made within fifteen (15) days after the
      receipt of any such notice and shall specify the Registrable Shares intended
      to
      be disposed of by Holder), the Company will use its best efforts to effect
      the
      registration of all Registrable Shares that the Company has been so requested
      to
      register by Holder; provided, however, that if, at any time after giving written
      notice of its intention to register any Common Stock and prior to the effective
      date of the registration statement filed in connection with such registration,
      the Company shall determine for any reason not to register such Common Stock,
      the Company may, at its election, give written notice of such determination
      to
      Holder and, thereupon, shall be relieved of its obligation to register any
      Registrable Shares of such persons in connection with such
      registration.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)
      Selection
      of Underwriters.
      Notice
      of the Company’s intention to register such Common Stock shall designate the
      proposed underwriters of such offering (which shall be one or more underwriting
      firms of recognized standing) and shall contain the Company’s agreement to use
      its best efforts, if requested to do so, to arrange for such underwriters to
      include in such underwriting the Registrable Shares that the Company has been
      so
      requested to sell pursuant to this Section 3, it being understood that the
      Holder of Registrable Shares shall have no right to select different
      underwriters for the disposition of the Registrable Shares.

     

    (c)
      Priority
      on Incidental Registrations.
      If the
      managing underwriter shall advise the Company in writing (with a copy to the
      Holder of Registrable Shares requesting sale) that, in such underwriter’s
      opinion, the number of shares of Common Stock requested to be included in such
      Registration exceeds the number that can be sold in such offering within a
      price
      range acceptable to the Company (such writing to state the basis of such opinion
      and the approximate number of shares of Common Stock that may be included in
      such offering without such effect), the Company will include in such
      Registration, to the extent of the number of shares of Common Stock that the
      Company is so advised can be sold in such offering:

     

    first,
      the
      shares that the Company proposes to issue and sell for its own account,
      and

     

    second,
      Other
      Registrable Securities of the Company requested to be included in such
      Registration and the Registrable Shares requested to be sold by the Holder,
      allocated among the holders of the Registrable Shares and Other Registrable
      Securities pro
      rata
      in
      accordance with the amount of such securities requested to be
      registered.

     

    (d)
      Registration
      Procedures.
      The
      Company will use its best efforts to effect each Registration, and to cooperate
      with the sale of Registrable Shares in accordance with the intended method
      of
      disposition thereof, as quickly as practicable, and the Company will as
      expeditiously as possible:

     

    (i) subject
      to the proviso to Section 3(a), prepare and file with the SEC the registration
      statement and use its best efforts to cause the Registration to become
      effective; provided, however, that before filing any registration statement
      or
      prospectus or any amendments or supplements thereto, the Company will furnish
      to
      the Holder of the Registrable Shares covered by such registration statement,
      their counsel, and the underwriters, if any, and their counsel, successive
      drafts of all such documents proposed to be filed at such times as will permit
      a
      reasonable period for the review thereof; the Company will not file any
      registration statement or amendment thereto or any prospectus or any supplement
      thereto (including such documents incorporated by reference) to which the Holder
      shall reasonably object based on their review of such drafts;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii) subject
      to the proviso to Section 3(a), prepare and file with the SEC such amendments
      and post-effective amendments to any registration statement and any prospectus
      used in connection therewith as may be necessary to keep such registration
      statement effective until the earlier of (i) one hundred twenty (120) days
      following the effective date of such registration statement or (ii) the sale
      of
      all Registrable Shares covered thereby, and to comply with the provisions of
      the
      Securities Act with respect to the disposition of all Registrable Shares covered
      by such registration statement; and cause the prospectus to be supplemented
      by
      any required prospectus supplement, and as so supplemented to be filed pursuant
      to Rule 424 under the Securities Act;

     

    (iii)
       furnish
      to the Holder of the Registrable Shares included in such Registration and the
      underwriter or underwriters, if any, without charge, at least one (1) signed
      copy of the registration statement and any post-effective amendment thereto,
      upon request, and such number of conformed copies thereof and such number of
      copies of the prospectus (including each preliminary prospectus and each
      prospectus filed under Rule 424 under the Securities Act), any amendments or
      supplements thereto and any documents incorporated by reference therein, as
      the
      Holder or underwriter may reasonably request in order to facilitate the
      disposition of the Registrable Shares being sold by Holder (it being understood
      that the Company consents to the use of the prospectus and any amendment or
      supplement thereto by the Holder of the Registrable Shares covered by such
      registration statement and the underwriter or underwriters, if any, in
      connection with the offering and sale of the Registrable Shares covered by
      the
      prospectus or any amendment or supplement thereto);

     

    (iv) notify
      the Holder of the Registrable Shares of any stop order or other order suspending
      the effectiveness of any registration statement issued or threatened by the
      SEC
      in connection therewith, and take all reasonable actions required to prevent
      the
      entry of such stop order or to remove it or obtain its withdrawal at the
      earliest possible moment if entered;

     

    (v) if
      requested by the managing underwriter or underwriters, if any, or the Holder
      of
      the Registrable Shares in connection with any sale pursuant to a registration
      statement, promptly incorporate in a prospectus supplement or post-effective
      amendment such information relating to such underwriting as the managing
      underwriter or underwriters, if any, or the Holder reasonably requests to be
      included therein; and make all required filings of such prospectus supplement
      or
      post-effective amendment as soon as practicable after being notified of the
      matters incorporated in such prospectus supplement or post-effective
      amendment;

     

    (vi) on
      or
      prior to the date on which a Registration is declared effective, use its best
      efforts to register or qualify, and cooperate with the Holder of the Registrable
      Shares included in such Registration, the underwriter or underwriters, if any,
      and their counsel, in connection with the registration or qualification of,
      the
      Registrable Shares covered by such Registration for offer and sale under the
      securities or Blue Sky laws of each state and other jurisdiction of the United
      States as Holder or the managing underwriter, if any, reasonably requests in
      writing; use its best efforts to keep each such registration or qualification
      effective, including through new filings, or amendments or renewals, during
      the
      period such registration statement is required to be kept effective; and do
      any
      and all other acts or things necessary or advisable to enable the disposition
      in
      all such jurisdictions reasonably requested by the Holder of the Registrable
      Shares covered by such Registration; provided, however, that the Company will
      not be required to qualify generally to do business in any jurisdiction where
      it
      is not then so qualified or to take any action which would subject it to general
      service of process in any such jurisdiction where it is not then so
      subject;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (vii)
       in
      connection with any sale pursuant to a Registration, cooperate with the Holder
      of the Registrable Shares and the managing underwriter or underwriters, if
      any,
      to facilitate the timely preparation and delivery of certificates (not bearing
      any restrictive legends) representing securities to be sold under such
      Registration, and enable such securities to be in such denominations and
      registered in such names as the managing underwriter or underwriters, if any,
      or
      Holder may request;

     

    (viii)
       use
      its
      best efforts to cause the Registrable Shares to be registered with or approved
      by such other governmental agencies or authorities within the United States
      and
      having jurisdiction over the Company or any Subsidiary as may reasonably be
      necessary to enable the seller or sellers thereof or the underwriter or
      underwriters, if any, to consummate the disposition of such
      securities;

     

    (ix) notify
      each seller of Registrable Shares covered by such Registration, upon discovery
      that, or upon the happening of any event as a result of which, the prospectus
      included in such Registration, as then in effect, includes an untrue statement
      of a material fact or omits to state any material fact required to be stated
      therein or necessary to make the statements therein not misleading, and promptly
      prepare, file with the SEC and furnish to such seller a reasonable number of
      copies of a supplement to or an amendment of such prospectus as may be necessary
      so that, as thereafter delivered to the purchasers or prospective purchasers
      of
      such securities, such prospectus shall not include an untrue statement of a
      material fact or omit to state a material fact required to be stated therein
      or
      necessary to make the statements therein not misleading in the light of the
      circumstances under which they are made;

     

    (x) otherwise
      comply with all applicable rules and regulations of the SEC, and make generally
      available to its security holders (as contemplated by section 11(a) under the
      Securities Act) an earnings statement satisfying the provisions of Rule 158
      under the Securities Act no later than ninety (90) days after the end of the
      twelve (12) month period beginning with the first month of the Company’s first
      fiscal quarter commencing after the effective date of the registration
      statement, which statement shall cover said twelve (12) month
      period;

     

    (xi) provide
      and cause to be maintained a transfer agent and registrar for all Registrable
      Shares covered by each Registration from and after a date not later than the
      effective date of such Registration; and

     

    (xii) cause
      all
      Registrable Shares covered by such Registration (A) to be listed on each
      securities exchange on which similar equity Securities issued by the Company
      are
      then listed; (B) if listed on Nasdaq, use its best efforts to secure designation
      of all such Registrable Shares covered by such registration statement as a
      Nasdaq “national market system security” within the meaning of Rule 11Aa2-1
      promulgated by the SEC under the Exchange Act, or, failing that, to secure
      Nasdaq authorization for such Registrable Shares; and (C) , if not so listed,
      to
      arrange for at least two market makers to register as such with respect to
      such
      Registrable Shares with the Financial Industry Regulatory
      Authority.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      Company may require the Holder of the Registrable Shares that will be included
      in such Registration to furnish the Company with such information as the Company
      may reasonably request in writing and as is required by applicable laws or
      regulations.

     

    (e)
      Reasonable
      Investigation.
      The
      Company shall:

     

    (i) give
      the
      Holder of the Registrable Shares and its counsel and accountants the opportunity
      to participate in the preparation of the registration statement, each prospectus
      included therein or filed with the SEC and each amendment thereof or supplement
      thereto;

     

    (ii) give
      the
      Holder reasonable opportunities to discuss the business of the Company with
      its
      officers, counsel and the independent public accountants who have certified
      its
      financial statements;

     

    (iii) make
      available for inspection by the Holder of the Registrable Shares included in
      any
      Registration, any underwriter participating in any disposition pursuant to
      any
      Registration, and any attorney, accountant or other agent retained by any such
      seller or underwriter, all financial and other records, pertinent corporate
      documents and properties of the Company; and

     

    (iv) cause
      the
      Company’s officers, directors and employees to supply all information reasonably
      requested by any such person in connection with such Registration;

     

    in
      each
      such case, as shall be reasonably necessary, in the opinion of the Holder or
      such underwriter, to enable it to conduct a “reasonable investigation” within
      the meaning of the section 11(b)(3) of the Securities Act and to satisfy the
      requirement of reasonable care imposed by section 12(a)(2) of the Securities
      Act.

     

    4.
      Indemnification;
      Contribution.

     

    (a) Indemnification
      by the Company.
      The
      Company shall indemnify, to the fullest extent permitted by law, the Holder
      of
      the Registrable Shares, its officers, directors and agents, if any, and each
      person, if any, who controls the Holder within the meaning of section 15 of
      the
      Securities Act, against all losses, claims, damages, liabilities (or proceedings
      in respect thereof) and expenses (under the Securities Act or common law or
      otherwise), joint or several, resulting from any violation by the Company of
      the
      provisions of the Securities Act or any untrue statement or alleged untrue
      statement of a material fact contained in any registration statement or
      prospectus (and as amended or supplemented if amended or supplemented) or any
      preliminary prospectus or caused by any omission or alleged omission to state
      therein a material fact required to be stated therein or necessary to make
      the
      statements therein (in the case of any prospectus, in light of the circumstances
      under which they were made) not misleading, except to the extent that such
      losses, claims, damages, liabilities (or proceedings in respect thereof) or
      expenses are caused by any untrue statement or alleged untrue statement
      contained in or by any omission or alleged omission from information concerning
      the Holder of the Registrable Shares furnished in writing to the Company by
      the
      Holder expressly for use therein. If the offering pursuant to any registration
      statement provided for under this Section 3 is made through underwriters, no
      action or failure to act on the part of such underwriters (whether or not such
      underwriter is an affiliate of the Holder of the Registrable Shares) shall
      affect the obligations of the Company to indemnify the Holder of the Registrable
      Shares or any other person pursuant to the preceding sentence.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b) Indemnification
      by the Holder.
      In
      connection with any registration statement in which the Holder of the
      Registrable Shares is participating, the Holder, severally and not jointly,
      shall indemnify, to the fullest extent permitted by law, the Company, each
      underwriter (if the underwriter so requires) and their respective officers,
      directors and agents, if any, and each person, if any, who controls the Company
      or such underwriter within the meaning of section 15 of the Securities Act,
      against any losses, claims, damages, liabilities (or proceedings in respect
      thereof) and expenses resulting from any untrue statement or alleged untrue
      statement of a material fact or any omission or alleged omission of a material
      fact required to be stated in the registration statement or prospectus or
      preliminary prospectus or any amendment thereof or supplement thereto or
      necessary to make the statements therein (in the case of any prospectus, in
      light of the circumstances under which they were made) not misleading, but
      only
      to the extent that such untrue statement is contained in or such omission is
      from information concerning the Holder furnished in writing by the Holder
      expressly for use therein; provided, however, that the Holder’s obligations
      hereunder shall be limited to an amount equal to the proceeds to the Holder
      of
      the Registrable Shares sold pursuant to such registration
      statement.

     

    (c) Control
      of Defense.
      Any
      person entitled to indemnification under the provisions of this Section 3(f)
      shall give prompt notice to the indemnifying party of any claim with respect
      to
      which it seeks indemnification and unless in such indemnified party’s reasonable
      judgment a conflict of interest between such indemnified and indemnifying
      parties may exist in respect of such claim, permit such indemnifying party
      to
      assume the defense of such claim, with counsel reasonably satisfactory to the
      indemnified party; and if such defense is so assumed, such indemnifying party
      shall not enter into any settlement without the consent of the indemnified
      party
      if such settlement attributes liability to the indemnified party and such
      indemnifying party shall not be subject to any liability for any settlement
      made
      without its consent (which shall not be unreasonably withheld); and any
      underwriting agreement entered into with respect to any registration statement
      provided for under this Agreement shall so provide. In the event an indemnifying
      party shall not be entitled (or elects not) to assume the defense of a claim,
      such indemnifying party shall not be obligated to pay the fees and expenses
      of
      more than one counsel or firm of counsel for all parties indemnified by such
      indemnifying party in respect of such claim, unless in the reasonable judgment
      of any such indemnified party a conflict of interest may exist between such
      indemnified party and any other of such indemnified parties in respect to such
      claim.

     

    (d) Contribution.
      If for
      any reason the foregoing indemnity is unavailable, then the indemnifying party
      shall contribute to the amount paid or payable by the indemnified party as
      a
      result of such losses, claims, damages, liabilities or expenses:

     

    (i) in
      such
      proportion as is appropriate to reflect the relative benefits received by the
      indemnifying party on the one hand and the indemnified party on the other;
      or

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii) if
      the
      allocation provided by clause (A) above is not permitted by applicable law
      or
      provides a lesser sum to the indemnified party than the amount hereinafter
      calculated, in such proportion as is appropriate to reflect not only the
      relative benefits received by the indemnifying party on the one hand and the
      indemnified party on the other but also the relative fault of the indemnifying
      party and the indemnified party as well as any other relevant equitable
      considerations. Notwithstanding the foregoing, the Holder of the Registrable
      Shares shall not be required to contribute any amount in excess of the amount
      the Holder would have been required to pay to an indemnified party if the
      indemnity under Section 3(f)(ii) were available. No person guilty of fraudulent
      misrepresentation (within the meaning of section 11(f) of the Securities Act)
      shall be entitled to contribution from any person who was not guilty of such
      fraudulent misrepresentation. The obligation of any person to contribute
      pursuant to this Section 3(f) shall be several and not joint.

     

    (e) Timing
      of Payments.
      An
      indemnifying party shall make payments of all amounts required to be made
      pursuant to the foregoing provisions of this Section 3(g) to or for the account
      of the indemnified party from time to time promptly upon receipt of bills or
      invoices relating thereto or when otherwise due or payable.

     

    (d) Survival.
      The
      indemnity and contribution agreements contained in this Section 3(f) shall
      remain in full force and effect regardless of any investigation made by or
      on
      behalf of the Holder of the Registrable Shares, its officers, directors, agents
      or any person who control the Holder as aforesaid, and shall survive the
      transfer of such Registrable Shares by the Holder.

     

    5.
      Holdback
      Agreements.
      In
      connection with each underwritten sale of Registrable Shares, each of the
      Company and the Holder agrees to enter into customary holdback agreements
      concerning sale or distribution of the Registrable Shares, provided, however,
      that the holdback period is for no more than 180 days during any 12 month
      period. 

     

    6.
      Other
      Registration of Common Stock.
      If any
      shares of Common Stock required to be reserved for purposes of conversion of
      any
      class of Common Stock into any other class of Common Stock require registration
      with or approval of any governmental authority under any federal or state law
      (other than the Securities Act) before such shares may be issued upon
      conversion, the Company will, at its expense and as expeditiously as possible,
      use its best efforts to cause such shares to be duly registered or approved,
      as
      the case may be.

     

    7.
      Availability
      of Information.
      At any
      time that any class of the Company’s Common Stock is registered under section
      12(b) or section 12(g) of the Exchange Act, the Company will comply with the
      reporting requirements of sections 13 and 15(d) of the Exchange Act (whether
      or
      not it shall be required to do so pursuant to such sections) and will comply
      with all other public information reporting requirements of the SEC from time
      to
      time in effect. In addition, the Company shall file such reports and
      information, and shall make available to the public and to the Holder of the
      Registrable Shares such information, as shall be necessary to permit the Holder
      to offer and sell the Registrable Shares pursuant to the provisions of Rules
      144
      and 144A promulgated under the Securities Act. The Company will also cooperate
      with Holder in supplying such information as may be necessary for Holder to
      complete and file any information reporting forms presently or hereafter
      required by the SEC as a condition to the availability of an exemption from
      the
      registration provisions of the Securities Act in connection with the sale of
      any
      Registrable Shares. The Company will furnish to the Holder, promptly upon their
      becoming available, copies of all financial statements, reports, notices and
      proxy statements sent or made available generally by the Company to its
      stockholders, and copies of all regular and periodic reports and all
      registration statements and prospectuses filed by the Company with any
      securities exchange or with the SEC.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    8.
      Other
      Registrable Securities.
      Holder
      acknowledges that the Company may permit its other holders of securities,
      whether pursuant to an agreement or otherwise, to include shares of Common
      Stock
      or other securities of the Company (the “Other
      Registrable Securities”)
      in a
      Registration.

     

    9.
      Subsequent
      Registration Statements.
      In the
      event the amount of shares covered by a Registration is limited by the SEC,
      the
      Company: (i) shall register the maximum number of Registrable Shares and Other
      Registrable Securities permitted by the SEC, allocated among the Holder and
      the
      holders of Other Registrable Securities in proportion to the amount previously
      included in the Registration, and (ii) shall file additional registration
      statements (the “Subsequent
      Registration Statements”)
      covering the balance of the Registrable Shares and Other Registrable Securities
      as soon as practicable in light of SEC positions, rules and regulations. The
      Company shall use its best efforts to cause any and all Subsequent Registration
      Statements to become effective within seventy five (75) days after each such
      filing.

     

    10. Expenses
      of Registration.
      All
      expenses incurred in connection with a Registration of the Registrable Shares
      pursuant to this Agreement, including without limitation all registration and
      qualification and filing fees, printing expenses, fees and disbursements of
      counsel for the Company, shall be borne by the Company. The Company shall not
      be
      responsible for the fees and disbursements of counsel for the Holder. All
      Selling Expenses shall be borne by the Holder of the Registrable Shares so
      registered and sold. 

     

    11. Miscellaneous.

     

    (a)
      Transferability;
      Assignability of Agreement and Registration Rights.
      Neither
      this Agreement nor the registration rights granted hereunder shall be
      transferable or assignable by SH other than in a Permitted
      Transfer.

     

    (b)
      Entire
      Agreement; Amendments.
      This
      Agreement constitutes the entire agreement and understanding of the parties
      with
      respect to the subject matter hereof, and supersedes any and all prior
      negotiations, correspondence, agreements or understandings with respect to
      the
      subject matter hereof. This Agreement may not be amended, modified or
      terminated, and no rights or provisions may be waived, except with the written
      consent of the Holder and the Company.

     

    (c)
      Governing
      Law.
      This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York without regard to principles of conflicts of
      law.
      Each party hereby irrevocably consents and submits to the jurisdiction of any
      New York State or United States Federal Court sitting in the State of New York,
      County of New York, over any action or proceeding arising out of or relating
      to
      this Agreement and irrevocably consents to the service of any and all process
      in
      any such action or proceeding by registered mail addressed to such party at
      its
      address specified herein (or as otherwise noticed to the other party). Each
      party further waives any objection to venue in New York and any objection to
      an
      action or proceeding in such state and county on the basis of forum
      non conveniens.
      Each
      party also waives any right to trial by jury. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d)
      Notices.

     

    Any
      notices, reports or other correspondence (hereinafter collectively referred
      to
      as “correspondence”) required or permitted to be given hereunder shall be given
      in writing and shall be deemed effectively given upon (a) personal delivery,
      (b)
      delivery by fax (with answer back confirmed), or (c) two business days after
      mailing by recognized overnight courier (such as Federal Express), addressed
      to
      a party at its address or sent to the fax number provided below or at such
      other
      address or fax number as such party may designate by three days’ advance notice
      to the other party.

     

    All
      correspondence to the Company shall be addressed as follows:

     

    BBM
      Holdings, Inc.

    1245
      Brickyard Road

    Salt
      Lake
      City, Utah 84106

    Attention:
      Andrew Limpert, CEO and President

    Fax:
      801-433-2222

    

    with
      a
      copy to: 

    

    Hahn
      & Hessen LLP

    488
      Madison Avenue

    New
      York,
      NY 10022

    Fax:
      212-478-7400

    Attention:
      James Kardon

    

    All
      correspondence to Holder shall be addressed as follows:

    

    Dr.
      Shalom Hirschman

    [Address]

    Fax:
      _________

    

    (e)
      Injunctive
      Relief.
      The
      parties acknowledge and agree that in the event of any breach of this Agreement,
      remedies at law may be inadequate, and each of the parties hereto shall be
      entitled to seek specific performance of the obligations of the other parties
      hereto and such appropriate injunctive relief as may be granted by a court
      of
      competent jurisdiction.

     

    (f)
      Attorney’s
      Fees.
      If any
      action at law or in equity is necessary to enforce or interpret any of the
      terms
      of this Agreement, the prevailing party shall be entitled to reasonable
      attorneys’ fees, costs and necessary disbursements in addition to any other
      relief to which such party may be entitled.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (g)
      Severability.
      If any
      provision of this Agreement is held by a court of competent jurisdiction to
      be
      unenforceable under applicable law, such provision shall be replaced with a
      provision that accomplishes, to the extent possible, the original business
      purpose of such provision in a valid and enforceable manner, and the balance
      of
      the Agreement shall be interpreted as if such provision were so modified and
      shall be enforceable in accordance with its terms.

     

    (h)
      Counterparts.
      This
      Agreement may be executed in a number of counterparts, any of which together
      shall for all purposes constitute one Agreement, binding on all the parties
      hereto notwithstanding that all such parties have not signed the same
      counterpart.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    SIGNATURE
      PAGE TO BBM HOLDINGS, INC. 

    REGISTRATION
      RIGHTS AGREEMENT

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Registration Rights
      Agreement as of the date and year first above written.

    

    
      	
              BBM
                Holdings, Inc.

            
	 	 
	
              By:

            	 
	
              Name:
                Andrew Limpert

            
	
              Title:
                President and CEO

            
	 
	
              
                 

              

            
	
              Shalom
                Hirschman

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