Document:

General
RELEASE agreement

 

This General
Release Agreement (this “Agreement”), dated as of April 6, 2012, is entered into by and among Eastern
Resources, Inc., Inc., a Delaware corporation (“Seller”), Buzz Kill, Inc., a New York corporation (“Split-Off
Subsidiary”), and each of the persons named on Exhibit A attached hereto (“Buyers”). In consideration
of the mutual benefits to be derived from this Agreement, the covenants and agreements set forth herein, and other valuable consideration,
the receipt and sufficiency of which are hereby acknowledged by the execution and delivery hereof, the parties hereto hereby agree
as follows:

 

1.          Split-Off
Agreement. This Agreement is executed and delivered by Split-Off Subsidiary and Seller pursuant to the requirements of
Sections 8.3 and 9.4, respectively, of that certain Split-Off Agreement (the “Split-Off Agreement”) by and among Seller,
Split-Off Subsidiary and Buyers as a condition precedent to the closing (the “Closing”) of the Split-Off Agreement.

 

2.          Release
and Waiver by Split-Off Subsidiary. For and in consideration of the covenants and promises contained herein and in the
Split-Off Agreement, the receipt and sufficiency of which are hereby acknowledged, Split-Off Subsidiary, on behalf of itself and
its assigns, representatives and agents, if any, hereby covenants not to sue and fully, finally and forever completely releases
Seller, along with its present, future and former officers, directors, stockholders, members, employees, agents, attorneys and
representatives (collectively, the “Seller Released Parties”), of and from any and all claims, actions, obligations,
liabilities, demands and/or causes of action, of whatever kind or character, whether now known or unknown, which Split-Off Subsidiary
has or might claim to have against the Seller Released Parties for any and all injuries, harm, damages (actual and punitive), costs,
losses, expenses, attorneys’ fees and/or liability or other detriment, if any, whenever incurred or suffered by Split-Off
Subsidiary arising from, relating to, or in any way connected with, any fact, event, transaction, action or omission that occurred
or failed to occur on or prior to the date of the Closing.

 

3.          Release
and Waiver by Buyers. For and in consideration of the covenants and promises contained herein and in the Split-Off Agreement,
the receipt and sufficiency of which are hereby acknowledged, each of the Buyers on behalf of itself and its assigns, representatives
and agents, if any, hereby covenants not to sue and fully, finally and forever completely releases the Seller Released Parties
of and from any and all claims, actions, obligations, liabilities, demands and/or causes of action, of whatever kind or character,
whether now known or unknown which Buyer has or might claim to have against the Seller Released Parties for any and all injuries,
harm, damages (actual and punitive), costs, losses, expenses, attorneys’ fees and/or liability or other detriment, if any,
whenever incurred or suffered by Buyer arising from, relating to, or in any way connected with, any fact, event, transaction, action
or omission that occurred or failed to occur on or prior to the date of the Closing.

 

    	 

    	 

    

 

4.          Release
and Waiver by Seller. For and in consideration of the covenants and promises contained herein and in the Split-Off Agreement,
the receipt and sufficiency of which are hereby acknowledged, Seller, on behalf of itself and its assigns, representatives and
agents, if any, hereby covenants not to sue and fully, finally and forever completely releases Split-Off Subsidiary and Buyers,
along with their present, future and former officers, directors, stockholders, members, employees, agents, attorneys and representatives
(collectively, the “Split-Off Subsidiary and Buyer Released Parties”), of and from any and all claims, actions, obligations,
liabilities, demands and/or causes of action, of whatever kind or character, whether now known or unknown, which Seller has or
might claim to have against the Split-Off Subsidiary and Buyer Released Parties for any and all injuries, harm, damages (actual
and punitive), costs, losses, expenses, attorneys’ fees and/or liability or other detriment, if any, whenever incurred or
suffered by Seller arising from, relating to, or in any way connected with, any fact, event, transaction, action or omission that
occurred or failed to occur on or prior to the date of the Closing.

 

5.          Additional
Covenants and Agreements.

 

(a)          Each
of Split-Off Subsidiary and each Buyer, on the one hand, and Seller, on the other hand, waives and releases the other from any
claims that this Agreement was procured by fraud or signed under duress or coercion so as to make this Agreement not binding.

 

(b)          Each
of the parties hereto acknowledges and agrees that the releases set forth herein do not include any claims the other party hereto
may have against such party for such party’s failure to comply with or breach of any provision in this Agreement or the Split-Off
Agreement.

 

(c)          Notwithstanding
anything contained herein to the contrary (including the Releases granted under Sections 3 and 4), this Agreement shall not release
or waive, or in any manner affect or void, any party’s rights and obligations under the Split-Off Agreement (including without
limitation, Section 12.1 of the Split-Off Agreement).

 

6.          Modification.
This Agreement cannot be modified orally and can only be modified through a written document signed by both parties.

 

7.          Severability.
If any provision contained in this Agreement is determined to be void, illegal or unenforceable, in whole or in part, then
the other provisions contained herein shall remain in full force and effect as if the provision that was determined to be void,
illegal or unenforceable had not been contained herein.

 

8.          Expenses.
The parties hereto agree that each party shall pay its respective costs, including attorneys’ fees, if any, associated with
this Agreement.

 

9.          Further
Acts and Assurances. Seller, Split-Off Subsidiary and Buyers agree that each of them will act in a manner supporting compliance,
including compliance by their respective Affiliates, with all of their respective obligations under this Agreement and, from time
to time, shall, at the request of Seller or Split-Off Subsidiary, as the case may be, and without further consideration, cause
the execution and delivery of such other instruments of release or waiver and take such other action or execute such other documents
as such party may reasonably request in order to confirm or effect the releases, waivers and covenants contained herein, and, in
the case of any claims, actions, obligations, liabilities, demands and/or causes of action that cannot be effectively released
or waived without the consent or approval of other persons or entities that is unobtainable, to use its best reasonable efforts
to ensure that the Seller Released Parties or the Split-Off Subsidiary and Buyer Released Parties, as the case may be, receive
the benefits thereof to the maximum extent permissible in accordance with applicable law or other applicable restrictions, and
shall perform such other acts which may be reasonably necessary to effectuate the purposes of this Agreement. For the purposes
of this Agreement, an “Affiliate” is a person or entity that directly, or indirectly through one or more intermediaries,
controls or is controlled by, or is under common control with, another specified person or entity.

 

    	2

    	 

    

 

10.         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to principles of conflicts or choice of laws thereof.

 

11.         Entire
Agreement. This Agreement and the Split-Off Agreement constitute the entire understanding and agreement of Seller, Split-Off
Subsidiary and Buyers and supersedes prior understandings and agreements, if any, among or between Seller, Split-Off Subsidiary
and Buyers with respect to the subject matter of this Agreement, other than as specifically referenced herein. This Agreement does
not, however, operate to supersede or extinguish any confidentiality, non-solicitation, non-disclosure or non-competition obligations
owed by Split-Off Subsidiary or Buyers to Seller under any prior agreement.

 

[Signature Page
Follows]

 

    	3

    	 

    

 

Signature Page to Buzz Kill, Inc. General
Release Agreement

 

IN WITNESS WHEREOF,
the undersigned have executed this General Release Agreement as of the day and year first above written.

 

	 	EASTERN RESOURCES, INC.
	 	 
	 	By:	/s/ Thomas H. Hanna, Jr.
	 	Name:  	Thomas H. Hanna, Jr.
	 	Title:	Chief Executive Officer
	 	 
	 	BUZZ KILL, INC.
	 	 
	 	By:	/s/ Thomas H. Hanna, Jr.
	 	Name:	Thomas H. Hanna, Jr.
	 	Title:	Chief Executive Officer

 

    	 

    	 

    

 

Signature Page to Buzz Kill, Inc. General
Release Agreement

 

	 	BUYER

 

	 	Name of Buyer: 	 

 

	 	Signature: 	 

 

	 	If Buyer is an entity,
	 	Name and Title of Signatory:
	 	 
	 	 

 

    	 

    	 

    

 

EXHIBIT A

 

	 	Buyer	 
	 	 	 
	 	Christopher Goercke	 
	 	Christopher W. Smollon	 
	 	Claire Entahisle	 
	 	Deborah O/Brien	 
	 	Jill Rothstein	 
	 	Joan Corbo	 
	 	Joan Shorr Hundley	 
	 	Estate of Lillian S. Hubbard	 
	 	Mary Scott	 
	 	Patrick McGowan	 
	 	Peter L. Coker	 
	 	Peter McClellan	 
	 	Sandra Hundley	 
	 	Steven Kampmann	 
	 	Susan H. Coker	 
	 	Thomas H. Hanna, Jr.	 
	 	Todd R. Steiner	 

 

    	6TERMINATION OF INVESTMENT AGREEMENT

 

This Termination of
Investment Agreement (this “Agreement”) is made as of April 6, 2012 (the “Effective Date”), by and between
Buzz Kill, Inc., a New York corporation (“Buzz Kill”), and Eastern Resources, Inc., a Delaware corporation (“ESRI”).
Each of Buzz Kill and ESRI may hereinafter be referred to as a “Party” and may collectively be referred to as the “Parties”.

 

RECITALS

 

WHEREAS, the Parties
entered into the Investment Agreement, dated as of May 1, 2007 (the “Investment Agreement”), pursuant to which ESRI
provided Buzz Kill with the amount of Eight Hundred Thousand Dollars ($800,000) in connection with the production of a motion picture
entitled “Buzz Kill”; and

 

WHEREAS, the Parties
have elected to terminate the Investment Agreement on the terms and conditions set forth herein and to terminate, release and discharge
each other of any and all obligations and security interests created under the Investment Agreement, wherever they may be;

 

NOW, THEREFORE,
in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby,
the Parties hereby agree as follows:

 

1.       Termination
of Investment Agreement. Each Party hereto, on behalf of itself and its affiliates and its and their respective predecessors,
successors, parents, subsidiaries, agents, attorneys, officers, employees, directors, members, managers, partners, shareholders,
representatives and assigns (collectively, the “Releasing Parties,” each a “Releasing Party”), severally
agrees (notwithstanding and irrespective of any agreement, document, matter, or thing (including, but not limited to, any terms
of the Investment Agreement)) that the Investment Agreement is hereby terminated in its entirety (including, but not limited to,
any and all powers of attorney granted therein) and that the Investment Agreement shall have no force and/or effect (past, present
and /or future) whatsoever. For the avoidance of doubt, ESRI confirms that (i) ESRI no longer has a right to recoup its $800,000
investment in Buzz Kill and (ii) Buzz Kill no longer is required to share 50% of its net revenue with ESRI.

 

2.       Release
of Obligations. No Party hereto shall have any right, obligation, and/or liability (past, present or future) whatsoever arising
under or in connection with the Investment Agreement. Each Releasing Party agrees that each other Party to the Investment Agreement,
including its affiliates and its and their respective predecessors, successors, parents, subsidiaries, agents, attorneys, officers,
employees, directors, members, managers, partners, shareholders, representatives and assigns (collectively, the “Released
Parties”, each a “Released Party”), is irrevocably and unconditionally fully released and discharged from any
and all liabilities, obligations, adjustments, executions, offsets, actions, causes of action, suits, debts, costs, expenses, sums
of money, accounts, reckonings, bonds, bills, covenants, contracts, controversies, agreements, promises, damages, judgments, claims,
demands and/or losses whatsoever, whether known or unknown, asserted or unasserted, liquidated or unliquidated, absolute or contingent,
accrued or non-accrued, actual and/or prospective (collectively, “Claims”, each a “Claim”), which any Releasing
Party may in the past, future or present have or claim to have or assert against any Released Party, relating to, arising under
or in connection with any of the Investment Agreement. Each Releasing Party represents and warrants to each Released Party that
it has not assigned or transferred or purported to assign or transfer to any person or entity all or any portion of any Claim released
by the Releasing Parties herein

 

    	 

    	 

    

 

3.       (a)       Buzz
Kill represents that it is not in breach of the Investment Agreement as of the Effective Date.

 

(b)       ESRI
represents that it is not in breach of the Investment Agreement as of the Effective Date.

 

4.       Governing
Law.    This Agreement and all the rights and duties of the Parties arising from or relating to the subject
matter of this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of New York,
without regard to conflicts of laws principles.

 

5.       Consent
to Jurisdiction and Service of Process.    All judicial proceedings brought against the Parties hereto
arising out of or relating to this Agreement, or any obligations hereunder, may be brought in any state or federal court of competent
jurisdiction in the state, county and city of New York.

 

6.       Waiver
of Jury Trial.    THE PARTIES HERETO HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING
OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT
LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS.

 

7.       Further
assurances.    In respect of the matters set forth in this Agreement, each of the Parties hereto shall
do and execute or procure to be done and executed all necessary acts, deeds, documents and/or things as may be reasonably requested
of it by any other Party hereto by written notice to give effect to this Agreement.

 

8.       Amendment
and Waiver.    No provision of this Agreement may be waived or amended except in a written instrument signed
by the Parties.

 

9.       Severability.    If
any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public
policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of this Agreement is not affected in any manner materially adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith
to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner.

 

    	2

    	 

    

 

10.       Assignment.    No
Party may, without the prior written consent of each other Party, assign any of its rights or transfer any of its obligations under
this Agreement.

 

11.       Entire
Agreement.    This Agreement sets forth the final agreement among the Parties as to the subject matter
hereof and supersedes all prior and contemporaneous agreements, understandings and negotiations, both written and oral, among the
Parties regarding the subject matter hereof.

 

12.       Counterparts.    This
Agreement may be executed and delivered (including by facsimile transmission) in one or more counterparts, and by the different
Parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together
shall constitute one and the same agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

    	3

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Termination of Investment Agreement as of the Effective Date.

 

	BUZZ KILL, INC.	 	EASTERN RESOURCES, INC.
	 	 	 
	By:	/s/  Thomas H. Hanna, Jr.	 	/s/ Thomas H. Hanna, Jr.
	Name:  Thomas H. Hanna, Jr.	 	Name:  Thomas H. Hanna, Jr.
	Title:    President	 	Title:     President

 

    	4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}]]