Document:

f8k110209ex10i_fund.htm

     

    Exhibit
10.1

     

    SECURITIES
PURCHASE AGREEMENT 

     

    This Securities Purchase Agreement
("Agreement"), is made
and entered into as of the 24th day
of September 2009 by and between VENSURE EMPLOYER SERVICES,
INC., a corporation organized under the laws of the State of Arizona (“Vensure”); FUND.COM, INC., a corporation
organized under the laws of the State of Delaware ("Fund”); and the Persons who
have executed this Agreement on the signature page hereof under the heading
“VENSURE STOCKHOLDERS”
(individually a “Vensure
Stockholder” and collectively, the “Vensure Stockholders”).
Vensure, Fund and the Vensure Stockholders are hereinafter sometimes referred to
individually as a “Party” and collectively as the
“Parties.”

    

    RECITALS:

     

    A.           Vensure desires to sell to
Fund, and Fund is willing, upon the
terms and subject to the conditions hereinafter set forth, to purchase from
Vensure all of the
218,883.33 shares of Series A
Preferred Stock authorized for issuance pursuant to the Certificate of
Incorporation.

    

    B.           It
is the intention of the Parties hereto that the purchase of the Series A
Preferred Stock shall qualify as a transaction in securities exempt from
registration or qualification under the Securities Act of 1933, as amended, and
under the applicable securities laws of each state or jurisdiction where Fund
resides.

     

    C.           As
a material inducement to cause Fund to enter into this Agreement and purchase
the Series A Preferred Stock, Vensure has agreed to execute and deliver to Fund
and its Affiliate the License Agreement, all as hereinafter
described.

     

    D.           The
board of directors of each of Vensure and Fund and the Vensure Stockholders each deem
it to be in the best interests of Vensure and
Fund and their
respective Affiliates to consummate the sale and purchase of the shares of
Series A Preferred Stock upon the terms and conditions hereinafter set
forth.

     

    NOW, THEREFORE, in
consideration of the mutual covenants, agreements, repre­sentations and
warranties contained in this Agreement, the Parties hereto agree as
follows:

    

    DEFINITIONS

    

    As used
in this Agreement, the following terms shall have the meanings set forth
below:

    

    “Applicable Law” means any
domestic or foreign law, statute, regulation, rule, policy, guideline or
ordinance applicable to the businesses of the Parties, the Share Exchange and/or
the Parties.

    

     “Affiliate” means any one or
more Person controlling, controlled by or under common control with any other
Person or their affiliate.

    

    “Business Day” shall mean any
day, excluding Saturday, Sunday and any other day on which national banks
located in New York, New York shall be closed for business.

     

    
      
        
        

      

      
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    “Certificate of Deposit” means
the restricted certificate of deposit issued by the CD Issuer in original Twenty
Million Dollar ($20,000,000) amount that matures in November 2010 (the “CD Maturity Date”) and which
(together with accrued interest) will be in the amount of Twenty One Million
Eight Hundred and Eighty Eight Thousand Three Hundred and Thirty Three Dollars
($21,888,333) as at the Closing Date.

     

     “CD Issuer” shall mean Global Bank of Commerce, a
bank chartered under the laws of Antigua and Barbuda.

     

     “Certificate of Incorporation”
shall mean the restated articles of incorporation of Vensure in the form of
Exhibit A annexed hereto
and made a part hereof that includes the designations of the relative rights,
privileges and preferences of the 218,883.33 shares of Series A Preferred
Stock.

    

    “Closing Date” shall mean the
date upon which the transactions contemplated by this Agreement and the purchase
and sale of the Series A Preferred Stock shall be consummated.

    

    “Dollar” and “$” means lawful money of the
United States of America.

    

     “Exchange Act” means the
Securities Exchange Act of 1934, as amended.

    

    “Existing Vensure Stockholders”
means as at date of this Agreement and as at the Closing Date, the collective
reference to (a) the Vensure Stockholders, and (b) the other Persons set forth
in Section 3.2
of the Investment Agreement.

    

    “Financial Statements” shall
have the meaning as is defined in Section 2.4 of this
Agreement.

    

    “GAAP” means generally accepted
accounting principles in the United States of America as promulgated by the
American Institute of Certified Public Accountants and the Financial Accounting
Standards Board or any successor Institutes concerning the treatment of any
accounting matter.

    

    “Fund” means Fund.com, Inc., a Delaware
corporation.

    

    “Investment Agreement” mean the
investment agreement, dated August _, 2009, among the Persons designated as the
“Investors” therein, Vensure, the Vensure Stockholders and Fund.

    

     “Knowledge” means the knowledge
after reasonable inquiry.

    

    “License Agreement” means that
certain letter agreement, dated the Closing Date, among Fund, Vensure and Whyte Lyon Socratic, Inc., a
Delaware corporation, d/b/a “The Money School” (“TMS”), pursuant to which FNDM
and TMS have agreed to provide certain educational content and courses to
employees of Vensure, and which is in the form of Exhibit
B annexed hereto and made a part hereof.

    

    “Material Adverse Effect” with
respect to any entity or group of entities means any event, change or effect
that has or would have a materially adverse effect on the financial condition,
business or results of operations of such entity or group of entities, taken as
a consolidated whole.

    

    “National Securities Exchange”
means the collective reference to the New York Stock Exchange, the NYSE Amex
Exchange, the Nadaq Stock Exchange, the FINRA OTC Bulletin Board or any other
recognized national securities exchange in the United States.

     

    
      
        
        

      

      
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     “Person” means any individual,
corporation, partnership, trust or unincorporated organization or a government
or any agency or political subdivision thereof.

     

    “Purchase Price” shall mean
Certificate of Deposit in the original face amount of $20,000,000.

     

     “Sale of Control” means the
sale or transfer of all or substantially all of the shares of capital stock or
assets of Vensure and its consolidated Subsidiaries, whether through merger,
consolidation, asset sale, tender offer or like combination or consolidation, to
any Person who is not an
Affiliate of Vensure immediately prior to such Sale of Control; provided,
however, that the term “Sale of Control” shall not mean or include a
transaction that constitutes a “Reverse Merger” (as that term is defined in the
Long-Term Note).

    

     “Series A Preferred Stock”
shall mean the 218,883.33 shares of Series A convertible preferred stock of
Vensure, $100 stated value per share, authorized for issuance pursuant to the
Certificate of Incorporation.

    

    “Stockholders Agreement” shall
mean shall mean the stockholders agreement among Vensure, the Investors and the
Existing Vensure Stockholders in the form of Exhibit
F annexed to the Investment Agreement.

    

    “Subsidiary” of any Person
means another Person, an amount of the voting securities, other voting ownership
or voting partnership interests of which is sufficient to elect at least a
majority of its Board of Directors or other governing body (or, if there are no
such voting interests, 50% or more of the equity interests of which) is owned
directly or indirectly by such first Person.

    

     “Tax” (and, with correlative
meaning, “Taxes” and
“Taxable”)
means:

    

    (i) any
income, alternative or add-on minimum tax, gross receipts tax, sales tax, use
tax, ad valorem tax, transfer tax, franchise tax, profits tax, license tax,
withholding tax, payroll tax, employment tax, excise tax, severance tax, stamp
tax, occupation tax, property tax, environmental or windfall profit tax, custom,
duty or other tax, impost, levy, governmental fee or other like assessment or
charge of any kind whatsoever together with any interest or any penalty,
addition to tax or additional amount imposed with respect thereto by any
governmental or Tax authority responsible for the imposition of any such tax
(domestic or foreign), and

    

    (ii) any
liability for the payment of any amounts of the type described in clause (i)
above as a result of being a member of an affiliated, consolidated, combined or
unitary group for any Taxable period, and

    

    (iii) any
liability for the payment of any amounts of the type described in clauses (i) or
(ii) above as a result of any express or implied obligation to indemnify any
other person.

    

    “Tax Return” means any return,
declaration, form, claim for refund or information return or statement relating
to Taxes, including any schedule or attachment thereto, and including any
amendment thereof.

     

    
      
        
        

      

      
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        “Transaction Documents” shall
have the meaning as is defined in the Investment Agreement.

    

    “Vensure” shall mean Vensure
Employer Services, Inc., an Arizona corporation.

    

    “Vensure Common Stock” shall
mean the 5,000,000 shares of common stock of Vensure, $0.001 par value per
share, that are authorized for issuance pursuant to the Vensure Certificate of
Incorporation.

    

    “Vensure Group” shall mean
Vensure and each of the Vensure Subsidiaries.

    

    “Vensure Preferred Stock” means
the 1,000,000 shares of preferred stock of Vensure, $0.001 par value per share,
that are authorized for issuance pursuant to the Certificate of incorporation of
Vensure, and containing such rights, privileges and designations as the board of
directors of Vensure may, from time to time determine.

    

    “Vensure Subsidiaries” shall
have the meaning defined in the Investment Agreement.

    

    “VRA” means Vensure Retirement Administration,
Inc., a Delaware corporation and a 100% owned subsidiary of
Vensure.

    

    “VRA Common Stock” shall mean
shall mean the 1,000,000 shares of common stock of Vensure, $0.001 par value per
share, that are authorized for issuance pursuant to the VRA certificate of
incorporation.

    

    SECTION
1.   PURCHASE AND SALE OF SERIES
A PREFERRED STOCK AND PAYMENT OF PURCHASE PRICE

    

    1.1           The Series A Preferred
Stock.

     

    (a)           On
the Closing Date and subject to and upon the terms and conditions of this
Agreement, Vensure shall sell, assign, transfer and exchange (collectively,
“Transfer”) to Fund,
all, and not less than all, of the 218,883.33 shares of the Series A Preferred
Stock authorized for issuance pursuant to the Certificate of
Incorporation.

    

    (b)           As
set forth in the Certificate of Incorporation, the 218,883.33 shares of Series A
Preferred Stock:

    

    (i)           
shall have a par value of $0.001 per share;

    

    (ii)          
shall have a stated or liquidation value of one hundred dollars ($100.00) per
share (the “Stated
Value”);

     

    (iii)          shall
be senior upon liquidation or a Sale of Control to all other classes of
preferred stock of Vensure Common Stock now existing or hereafter
created;

     

    
      
        
        

      

      
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    (iv)           in
the event of any Sale of Control, in addition to the right of the holder(s) of
the Series A Preferred Stock to receive, prior to any payments or distributions
in respect of outstanding shares of Vensure Common Stock, a preferential payment
in respect of such Series A Preferred Stock equal to product of (A) the $100.00
per share Stated Value, and (B) the number of Series A Preferred Stock then
owned, the holder(s) of the Series A Preferred Stock shall be entitled to
participate with the holders of Vensure Common Stock in the receipt of any
additional consideration payable upon such Sale of Control to the extent of
0.00011421609% of such additional consideration for each one (1) share of Series
A Preferred Stock then owned by the holder(s), or as to all 218,883.33 shares of
Series A Preferred Stock, an aggregate of twenty-five percent (25%) of all such
additional consideration payable upon such Sale of Control;

    

    (v)           shall
not pay a fixed dividend, but shall entitle the holder(s) to participate equally
with the holders of Vensure Common Stock in connection with any cash or stock
dividends or distributions;

     

    (vi)           at
any time or from time to time from and after a date which shall be three (3)
years following the Closing Date, shall be convertible at the option of the
holder(s) upon not less than sixty one (61) days prior written notice to Vensure
(the “Conversion
Notice”) into either:

     

    (A)           that
number of shares of Vensure Common Stock (the “Vensure Conversion Option”) as
shall represent 0.00011421609% of the issued and outstanding shares of Vensure
Common Stock as at the Closing Date for each one (1) share of Series A Preferred
Stock then owned by the holder(s), or as to all 218,883.33 shares of Series A
Preferred Stock, an aggregate of twenty-five percent (25%) of the issued and
outstanding shares of Vensure Common Stock as at the Closing Date (the “Vensure Conversion Shares”);
or

     

    (B)           securities
of VRA that shall have an agreed upon value of not less than Twenty-Five Million
($25,000,000) Dollars (the “VRA
Conversion Option”), represented by the sum of (x) that number of shares
of VRA Common Stock as shall represent 0.00022614787% of the issued and
outstanding shares of VRA Common Stock as at the Conversion Date set forth in
the Conversion Notice for each one (1) share of Series A Preferred Stock then
owned by the holder(s), or as to all 218,883.33 shares of Series A Preferred
Stock, an aggregate of forty-nine and one-half percent (49.5%) of the issued and
outstanding shares of VRA Common Stock as at the Conversion Date (the “VRA Conversion Shares”); plus (y)
that number of shares of VRA non-voting, non-convertible preferred stock, $0.001
par value per share, which when multiplied by its $1,000 stated or liquidation
value, and added to the fair market value of the VRA Conversion Shares shall
equal Twenty-Five Million ($25,000,000) Dollars;

    

    provided,
however, that if the holder(s) of Series A Preferred Stock elect the
Vensure Conversion Option, Vensure shall have the right (but not the
obligation), exercisable within thirty (30) days after receipt of the Conversion
Notice, to terminate the Vensure Conversion Option, in which event the holder(s)
of Series A Preferred Stock may either: (x)elect not to convert any of their
Series A Preferred Stock, or (y) elect the VRA Conversion Option described in
Section 1.1(vi)(B) above; and

     

    (vii)           shall
not be subject to mandatory or optional redemption without the prior written
consent or approval of both Vensure and the holder(s) of the Series A Preferred
Stock.

    

    The
foregoing summary description of the Series A Preferred Stock is for
informational purposes only and is qualified in its entirety by the terms and
conditions of the Certificate of Incorporation annexed as Exhibit
A hereto; which shall govern in all respects the relative rights,
preferences and privileges of the Series A Preferred Stock.

     

    
      
        
        

      

      
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    1.2           The Purchase
Price.

     

    (a)           On
the Closing Date, and in exchange for the Transfer to it of the aforesaid shares
of Series A Preferred Stock, Fund shall pay to Vensure the Purchase
Price.

     

    (b)           Such
Purchase Price shall be paid by either (i) Fund’s transfer and assignment to
Vensure of all of Fund’s right, title and interest in and to the Certificate of
Deposit together with the written consent of the CD Issuer to such assignment,
or (ii) if the consent of the CD Issuer is not obtained on the Closing Date,
Fund shall transfer and assign to Vensure all of Fund’s right, title and
interest in an to all proceeds of the Certificate of Deposit, whether upon the
CD Maturity Date or prior thereto; in each case, pursuant to an assignment and
transfer agreement in form and content acceptable to Vensure and its legal
counsel.

    

    1.3           Exemption from
Registration.  The Parties intend that the Series A Preferred
Stock to be issued by Vensure to Fund shall be exempt from the registration
requirements of the Securities Act pursuant to Section 4(2) of the Securities
Act and the rules and regulations promulgated thereunder.

    

    1.4           Closing and Closing
Date.

    

    (a)           The
closing of the Share Exchange (the “Closing”) will take place at
the offices of Hodgson Russ LLP, counsel to the Investors under the Investment
Agreement, at its office in New York, New York, within ten (10) days following
the delivery of satisfaction or waiver of the conditions precedent set forth in
Section 4 or at such other date as Vensure and Fund shall agree (the “Closing Date”), but in no
event shall the Closing Date occur later than 5:00 p.m. on September 29, 2009,
unless such date shall be extended by mutual agreement of Vensure and
Fund.

    

    (b)           Notwithstanding anything to the
contrary, express or implied contained in this Agreement or in any other
Transaction Document, in the event and to the extent that any documents or other
closing instruments otherwise required to be delivered by September 29, 2009
under any of the Transaction Documents shall not have been so delivered, and the
Parties hereto and pursuant to any such Transaction Document shall have agreed
to waive delivery of any such document(s) or instrument(s) or defer such
delivery to a later date, all of the transactions contemplated by this Agreement
and all other Transaction Documents shall, for all purposes, be deemed to have
been consummated as at 5:00 p.m. on September 29, 2009.

    

    1.5           Conditions to
Closing.   On or prior to the Closing Date, unless waived
or deferred in writing by the Parties, all of the following conditions or
transactions shall have been fulfilled and consummated:

    

    (a)           The
Certificate of Incorporation of Vensure shall have been filed with Secretary of
State of the State of Arizona and approved for filing by the Arizona Corporation
Commission (the “ACC”).  In addition,
(i) not later than five (5) Business Days after the Closing Date, the
Certificate of Incorporation, as filed with and approved by the ACC, shall be
published in a newspaper of general circulation in Maricopa County, Arizona for
three consecutive publications, and (ii) Vensure shall deliver an affidavit from
the newspaper evidencing such publication within ninety (90) days from the date
such Certificate of Incorporation was approved for filing by the
ACC.

     

    
      
        
        

      

      
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    (b)           The
Stockholders Agreement shall have been executed and delivered by the parties
thereto.

    

    (c)           Persons
designated by the Investors and approved by the board of directors of Fund (the
“Investor
Representatives”) shall constitute not less than 40% of all of the
members of the board of directors of Vensure and each member of the Vensure
Group.

    

    (d)           The
License Agreement shall have been executed and delivered by the parties
thereto.

    

    (e)           All
of the other transactions contemplated by the Investment Agreement shall have
been consummated.

    

    (f)           One
or more stock certificates evidencing the shares of Series A Preferred Stock
shall be registered in the name of FNDM and delivered to FNDM.

    

    (g)           FNDM
shall have completed a satisfactory business and financial due diligence review
of Vensure.

    

    (h)           FNDM
shall have received an opinion from an investment banking firm reasonably
acceptable to the board of directors of FNDM to the effect that this Agreement
and the transactions contemplated hereby are fair and reasonable to FNDM and the
stockholders of FNDM from a financial point of view (the “Fairness
Option”).

    

    
      1.6          
Restrictions On
Resale

    

    

    The
Series A Preferred Stock and the shares of Vensure Common Stock or VRA Common
Stock issuable upon conversion of the Series A Preferred Stock will not be
registered under the Securities Act, or the securities laws of any state, and
cannot be transferred, hypothecated, sold or otherwise disposed of until: (i) a
registration statement with respect to such securities is declared effective
under the Securities Act, or (ii) Vensure receives an opinion of counsel of the
stockholder, reasonably satisfactory to counsel for Vensure, that an exemption
from the registration requirements of the Securities Act is
available.

    

    The
certificates representing the Series A Preferred Stock shall contain a legend
substantially as follows:

    

    “THE
SECURITIES WHICH ARE REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED,
HYPOTHECATED OR OTHERWISE DISPOSED OF UNTIL A REGISTRATION STATEMENT WITH
RESPECT THERETO IS DECLARED EFFECTIVE UNDER SUCH ACT, OR FUND.COM, INC. RECEIVES
AN OPINION OF COUNSEL FOR THE HOLDER REASONABLY SATISFACTORY TO COUNSEL FOR SUCH
CORPORATION THAT AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT IS
AVAILABLE.”

     

    
      
        
        

      

      
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    SECTION
2. REPRESENTATIONS AND WARRANTIES OF FUND.

    

    Fund hereby represents and
warrants to Vensure as
follows:

    

    2.1           Organization and Good
Standing.  Fund is a corporation duly organized and validly
existing under the laws of the British Virgin Islands.

    

    2.2           Authority.   Fund
has the corporate power to enter into this Agreement and to perform its
obligations hereunder.  The execution and delivery of this Agreement
and the consummation of the transaction contemplated hereby have been duly
authorized by the Board of Directors of Fund, including the payment of the
Purchase Price for the Series A Preferred Stock.  The execution and
performance of this Agreement will not constitute a material breach of any
agreement, indenture, mortgage, license or other instrument or document to which
Fund is a Party
and will not violate any judgment, decree, order, writ, rule, statute, or
regulation applicable to Fund or its
properties.  The execution and performance of this Agreement will not
violate or conflict with any provision of the Articles of Incorporation or
by-laws of Fund.

     

    2.3           Investment
Purpose.  As of the date hereof and the Closing Date Fund is
purchasing the Series A Preferred Stock and the shares of Vensure Common Stock
or VRA Common Stock issuable upon conversion of the Series A Preferred Stock
(the “Conversion Shares”
and collectively with the Series A Preferred Stock, the “Securities”) for its own
account and not with a present view towards the public sale or distribution
thereof, except pursuant to sales registered or exempted from registration under
the Securities Act; provided,
however, that by making the representations herein, Fund does not agree
to hold any of the Securities for any minimum or other specific term and
reserves the right to dispose of the Securities at any time in accordance with
or pursuant to a registration statement or an exemption under the Securities
Act.

     

    2.4           Accredited
Investor.  Fund is an “accredited investor” as that term is
defined in Rule 501(a) of Regulation D under the Securities Act (an “Accredited
Investor”).  Further, Fund represents that it is a
sophisticated investor, can bear the economic risk of this Investment for an
indefinite period of time, and has such knowledge and experience in financial
and business matters so as to be capable of evaluating the merits and risks of
this Investment.

     

    2.5           Reliance on
Exemptions.  Fund understands that the Securities are being
offered and sold to it in reliance upon specific exemptions from the
registration requirements of United States federal and state securities laws and
that the Company is relying upon the truth and accuracy of, and Fund’s
compliance with, the representations, warranties, agreements, acknowledgments
and understandings of Fund set forth herein in order to determine the
availability of such exemptions and the eligibility of Fund to acquire the
Securities.

     

    2.6           Information.  Fund
and its advisors, if any, have had the opportunity to ask questions of
management of Vensure and have been furnished with all information relating to
the business, finances and operations of the Vensure Group and information
relating to the offer and sale of the Securities which have been requested by
Fund or its advisors.  Neither such inquiries nor any other due
diligence investigation conducted by Fund or any of its advisors or
representatives shall modify, amend or affect Fund’s right to rely on the
representations and warranties of Vensure contained in the Investment
Agreement.  Fund understands that its investment in the Securities
involves a significant degree of risk.  Fund further represents to the
Vensure that Fund’s decision to enter into this Agreement has been based solely
on the independent evaluation of Fund and the representations and warranties of
Vensure contained in this Agreement and in the Investment
Agreement.

     

    
      
        
        

      

      
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    2.7           Governmental
Review.  Fund understands that no United States federal or
state agency or any other government or governmental agency has passed upon or
made any recommendation or endorsement of the Securities.

     

    2.8           Transfer or
Resale.  Fund understands the sale or re-sale of the Securities
has not been and is not being registered under the Securities Act or any
applicable state securities laws, and the Securities may not be transferred
unless (i) the Securities are sold pursuant to an effective registration
statement under the Securities Act, (ii) Fund shall have delivered to the
Company an opinion of counsel that shall be in form, substance and scope
customary for opinions of counsel in comparable transactions to the effect that
the Securities to be sold or transferred may be sold or transferred pursuant to
an exemption from such registration, which opinion shall be reasonably
acceptable to the Company, (iii) the Securities are sold or transferred to
an “Affiliate” (as defined in Rule 144 promulgated under the Securities Act (or
a successor rule) (“Rule
144”) of Fund who agrees to sell or otherwise transfer the Securities
only in accordance with this Section 2.8 and who is an Accredited Investor,
(iv) the Securities are sold pursuant to Rule 144, or (v) the
Securities are sold pursuant to Regulation D under the Securities Act (or a
successor rule) (“Regulation
D”).  Fund acknowledges that hedging transactions involving the
Securities may not be conducted unless in compliance with the Securities
Act.  Notwithstanding the foregoing or anything else contained herein
to the contrary, the Securities may be pledged as collateral in connection with
a bona fide margin account or other lending arrangement.

     

    2.9           Full
Disclosure.  No representation or warranty by Fund in this
Agreement or in any document or schedule to be delivered by them pursuant
hereto, and no written statement, certificate or instrument furnished or to be
furnished by Fund pursuant hereto or in connection with the negotiation,
execution or performance of this Agreement contains or will contain any untrue
statement of a material fact or omits or will omit to state any fact necessary
to make any statement herein or therein not materially misleading or necessary
to a complete and correct presentation of all material aspects of the business
of Fund.

    

    SECTION 3.  REPRESENTATIONS AND
WARRANTIES OF VENSURE.

    

    3.1           Organization and Good
Standing.  Vensure is a corporation duly organized, validly
existing and in good standing under the laws of the State of
Arizona.  Vensure has the corporate power to own its own property and
to carry on its business as now being conducted and is duly qualified to do
business in any jurisdiction where so required except where the failure to so
qualify would have no material negative impact.

    

    3.2           Authority.  The
Vensure Stockholders has approved the execution delivery and performance of this
Agreement by Vensure.  The Vensure Stockholders individually has the
power and authority, and Vensure has the corporate power to enter into this
Agreement and to perform its obligations hereunder, including the issuance of
the Series A Preferred Stock.  The execution and delivery of this
Agreement and the consummation of the transactions contemplated hereby have been
duly authorized by the Board of Directors and stockholders of Vensure as
required by Arizona law.  The execution and performance of this
Agreement will not constitute a material breach of any agreement, indenture,
mortgage, license or other instrument or document to which Vensure is a Party
and will not violate any judgment, decree, order, writ, rule, statute, or
regulation applicable to Vensure or its properties.  The execution and
performance of this Agreement will not violate or conflict with any provision of
the respective Certificate of Incorporation or by-laws of Vensure.

     

    
      
        
        

      

      
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    3.3           Vensure
Capitalization.

     

    (a)           On
or immediately following the Closing Date, Vensure will be authorized to issue
(i) 5,000,000 shares of Vensure Common Stock, $0.001 par value per share, and
(ii) 1,000,000 shares of Vensure Preferred Stock. An aggregate of 820,000 shares
of Vensure Common Stock and no shares of Vensure Preferred Stock are or will be
issued and outstanding as at the Closing Date.  All 820,000 shares of
Vensure Common Stock will be owned by the Vensure Stockholders, and an
additional 180,000 shares of Vensure Common Stock will be issued or reserved for
issuance to certain key employees of Vensure, including certain of the Vensure
Stockholders.

     

    (b)           Except
for the 218,883.33 shares of Series A Preferred Stock or as contemplated by this
Agreement, no shares of Vensure Common Stock or Vensure Preferred Stock are
reserved for issuance pursuant to any agreement, convertible securities, options
or warrants.

     

    (c)           The
Vensure Stockholders own as at the Execution Date an aggregate of 10,000 of the
10,000 authorized shares of Vensure Common Stock, and will own at the Closing
Date an aggregate of 1,000,000 of the 1,000,000 shares of Vensure Common Stock
that as at the Closing Date are issued and outstanding.  Such shares
of Vensure Common Stock are owned and will be owned by the Vensure Stockholders,
as follows:

     

    
    

    
      
        	
                 Name       

              	
                Number of Shares Owned

                at the Execution Date

              	
                Number of Shares to be Owned

                at the Closing Date

              
	 	 	 	 	 
	
                 Robert
      A. Attridge

              	
                1,041.7
      shares

              	 
      	
                  
      104,170 shares

              	 
      
	
                 Thomas
      Lindsay

              	
                 4,513.9
      shares

              	 
      	
                  
      451,390 shares

              	 
      
	
                 Robert
      G. Morley 

              	
                 1,736.1
      shares

              	 
      	
                  
      173,610 shares

              	 
      
	
                 Ryan
      Scott     

              	
                   
      312.5 shares

              	 
      	
                  
        32,500 shares

              	 
      
	
                 Matthew
      Tonioli  

              	
                   
      312.5 shares

              	 
      	
                   
       32,500 shares

              	 
      
	
                 John
      Iorillo  

              	
                 1,736.1
      shares

              	 
      	
                  
      173,610 shares

              	 
      
	
                 Guy
      Archambeau

              	
                   
      347.2
      shares

              	 
      	
                     34,720 shares

              	 
      
	
                 Total 

              	
                 8,200 shares   

              	 
      	
                1,000,000
      shares

              	 
      

      

    

     

    3.4           Vensure Financial
Statements.

    

    Vensure
has furnished to Fund the unaudited consolidated balance sheet and consolidated
statement of operations of the Vensure Group as at December 31, 2008 and the
unaudited consolidated balance sheet and unaudited consolidated statement of
operations of the Vensure Group as at June 30, 2009 and for the six months then
ended (collectively, the “Vensure Financial
Statements”).  Except as set forth on the balance sheet dated
March 31, 2009 or otherwise disclosed on Schedule 3.4, as at
June 30, 2009, Vensure has no other assets and has incurred no other
liabilities, debts or obligations, whether fixed, contingent or otherwise
required to be set forth on a balance sheet prepared in accordance with
GAAP.  The books of account and other financial records of Vensure are in all
respects complete and correct in all material respects and are maintained in
accordance with good business and accounting practices.

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    3.5           No Material Adverse
Changes.  Since June 30, 2009:

    

    (a)           there
has not been any material adverse changes in the financial position of the
Vensure Group except changes arising in the ordinary course of business, which
changes will in no event materially and adversely affect the financial position
of the Vensure Group, and will be consistent with the representations made by
Vensure hereunder.

    

    (b)           there
has not been any damage, destruction or loss materially affecting the assets,
prospective business, operations or condition (financial or otherwise) of the
Vensure Group whether or not covered by insurance;

    

    (c)           there
has not been any declaration setting aside or payment of any dividend or
distribution with respect to any redemption or repurchase of Vensure capital
stock;

    

    (d)           there
has not been any sale of an asset (other than in the ordinary course of
business) or any mortgage pledge by the Vensure Group of any properties or
assets; or

    

    (e)           there
has not been adoption or modification of any pension, profit sharing,
retirement, stock bonus, stock option or similar plan or
arrangement.

    

    (f)           except
as contemplated by the Investment Agreement, there has not been any loan or
advance to any shareholder, officer, director, employee, consultant, agent or
other representative or made any other loan or advance otherwise than in the
ordinary course of business;

    

    (g)           except
in the ordinary course of business, there has not been any increase in the
annual level of compensation of any executive employee of the Vensure
Group;

    

    (h)           except
in the ordinary course of business, the Vensure Group has not entered into or
modified any contract, agreement or transaction; and

    

    (i)           the
Vensure Group has not issued any equity securities or rights to acquire equity
securities.

    

    3.6           Taxes.  The
Vensure Group has timely filed all material tax, governmental and/or related
forms and reports (or extensions thereof) due or required to be filed and has
paid or made adequate provisions for all taxes or assessments which have become
due as of the Closing Date, and there are no deficiencies
outstanding.

    

    3.7           Compliance with
Laws.  Vensure has complied
with all federal, state, county and local laws, ordinances, regulations,
inspections, orders, judgments, injunctions, awards or decrees applicable to it
or its business, which, if not complied with, would materially and adversely
affect the business of Vensure or the trading
market for the Vensure Shares and
specifically, and Vensure has complied
with provisions for registration under the Securities Act of 1933 and all
applicable blue sky laws in connection with its public stock offering and there
are no outstanding, pending or threatened stop orders or other actions or
investigations relating thereto.

    

    3.8           Actions and
Proceedings.  The Vensure Group is not a Party to any material
pending litigation or, to its knowledge, any governmental proceedings are
threatened against the Vensure Group.

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

     

    3.9           Disclosure.  Vensure
has (and at the Closing it will have) disclosed in writing to Fund all events,
conditions and facts materially affecting the business, financial conditions or
results of operation of Vensure all of which
have been set forth herein.  Vensure has not now and
will not have, at the Closing, withheld disclosure of any such events,
conditions, and facts which they have knowledge of or have reasonable grounds to
know may exist.

    

    3.10           Access to
Records.  The corporate financial records, minute books, and
other documents and records of Vensure have been made
available to Fund prior to the Closing hereof.

    

    3.11           No
Breach.  The execution, delivery and performance of this
Agreement and the consummation of the transactions contemplated hereby will
not:

    

    (a)           violate
any provision of the Articles of Incorporation or By-Laws of
Vensure;

     

    (b)           violate,
conflict with or result in the breach of any of the terms of, result in a
material modification of, otherwise give any other contracting Party the right
to terminate, or constitute (or with notice or lapse of time or both constitute)
a default under, any contract or other agreement to which the Vensure Group is a
Party or by or to which it or any of its assets or properties may be bound or
subject;

    

    (c)           violate
any order, judgment, injunction, award or decree of any court, arbitrator or
governmental or regulatory body against, or binding upon, the Vensure Group or
upon the securities, properties or business of the Vensure Group;
or

    

    (d)           violate
any statute, law or regulation of any jurisdiction applicable to the
transactions contemplated herein.

    

    3.12           Brokers or
Finders.  No broker's or finder's fee will be payable by
Vensure in connection with the transactions contemplated by this Agreement, nor
will any such fee be incurred as a result of any actions of
Vensure.

    

    3.13           Investment
Agreement.  Vensure and the Vensure Stockholders have duly
executed and delivered the Investment Agreement.

    

    3.14           Authority to Execute and
Perform Agreements.  Vensure has the full
legal right and power and all authority and approval required to enter into,
execute and deliver this Agreement and to perform fully its obligations
hereunder.  This Agreement has been duly executed and delivered and is
the valid and binding obligation of Vensure enforceable in
accordance with its terms, except as may be limited by bankruptcy, moratorium,
insolvency or other similar laws generally affecting the enforcement of
creditors' rights.  The execution and delivery of this Agreement and
the consummation of the transactions contemplated hereby and the performance by
Vensure of this
Agreement, in accordance with its respective terms and conditions will
not:

    

    (a)           require
the approval or consent of any governmental or regulatory body or the approval
or consent of any other person;

     

    (b)           conflict
with or result in any breach or violation of any of the terms and conditions of,
or constitute (or with any notice or lapse of time or both would constitute) a
default under, any order, judgment or decree applicable to Vensure, or any
instrument, contract or other agreement to which Vensure is a Party or
by or to which Vensure is bound or
subject; or

    

    (c)           result
in the creation of any lien or other encumbrance on the assets or properties of
Vensure.

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

     

    3.15           Full
Disclosure.  No representation or warranty by Vensure in this
Agreement or in any document or schedule to be delivered by them pursuant
hereto, and no written statement, certificate or instrument furnished or to be
furnished by Vensure pursuant hereto
or in connection with the negotiation, execution or performance of this
Agreement contains or will contain any untrue statement of a material fact or
omits or will omit to state any fact necessary to make any statement herein or
therein not materially misleading or necessary to complete and correct
presentation of all material aspects of the business of Vensure.

    

    SECTION
4.  COVENANTS

    

    4.1           Corporate Examinations and
Investigations.  Prior to the Closing Date, the Parties
acknowledge that they have been entitled, through their employees and
representatives, to make such investigation of the assets, properties, business
and operations, books, records and financial condition of the other as they each
may reasonably require.  No investigations, by a Party hereto shall,
however, diminish or waive any of the representations, warranties, covenants or
agreements of the Party under this Agreement.

    

    4.2           Further
Assurances.  The Parties shall execute such documents and other
papers and take such further actions as may be reasonably required or desirable
to carry out the provisions hereof and the transactions contemplated
hereby.  Each such Party shall use its best efforts to fulfill or
obtain the fulfillment of the conditions to the Closing, including, without
limitation, the execution and delivery of any documents or other papers, the
execution and delivery of which are necessary or appropriate to the
Closing.

    

    4.3           Confidentiality.  In
the event the transactions contemplated by this Agreement are not consummated,
Vensure and
Fund agree to keep confidential any information disclosed to each other in
connection therewith for a period of three (3) years from the date hereof;
provided, however, such obligation shall not apply to information
which:

    

    
      	
               
      

            	
              (i)

            	
              at
      the time of the disclosure was public
knowledge;

            

    

    

    
      	
              (ii)  

            	
              is
      required to be disclosed publicly pursuant to any applicable federal or
      state securities laws;

            

    

    

    
      	
              (iii)  

            	
              after
      the time of disclosure becomes public knowledge (except due to the action
      of the receiving Party);

            

    

    

    
      	
               
      

            	
              (iv)

            	
              the
      receiving Party had within its possession at the time of disclosure;
      or

            

    

    

    (v)           is
ordered disclosed by a Court of proper jurisdiction.

    

    4.4           Stock
Certificates.  At the Closing, Vensure shall have delivered to
Fund the certificates representing the 218,883.33 shares of Series A Preferred
Stock registered in the name of Fund so as to make Fund the sole owner
thereof.

    

    4.5           Use of
Proceeds.  Vensure shall use the entire Certificate of Deposit
received upon the sale of the Series A Preferred Stock only to capitalize VRA
and enable VRA to purchase the annuity contemplated by the Investment
Agreement.

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

     

    4.6           Expenses. 
It  is understood and agreed that following the execution of this
Agreement, any and all legal or other fees and expenses with respect to any
filings, documentation and related matters with respect to the consummation of
the transactions contemplated hereby shall be the sole responsibility of
Vensure, and that Fund shall not be responsible for any such expenses or legal
or other fees associated with such filings; provided,
however, that Fund shall fully cooperate and execute all required
documents as may be legally required.

    

    SECTION
5.  SURVIVAL OF REPRESENTATIONS AND WARRANTIES

     

    Notwithstanding any right of either
Party to investigate the affairs of the other Party and its Shareholders, each
Party has the right to rely fully upon representations, warranties, covenants
and agreements of the other Party and its Shareholders contained in this
Agreement or in any document delivered to one by the other or any of their
representatives, in connection with the transactions contemplated by this
Agreement.  All such representations, warranties, covenants and
agreements shall survive the execution and delivery hereof and the closing
hereunder for eighteen (18) months following the Closing.

    

    SECTION 6.  
INDEMNIFICATION; DISPUTE RESOLUTION.

    

    6.1           Indemnification by
Fund.

     

    (a)           From
and after the Closing, Fund shall indemnify and hold harmless Vensure, the
Vensure Stockholders and their Affiliates, directors, officers and employees
(collectively, the “Vensure
Parties”) from and against any and all direct Damages finally awarded
arising out of, resulting from or in any way related to:

    

    (i)           a
breach by Fund of its representations and warranties contained herein,
or

     

    (ii)           the
failure to perform or satisfy, when due, any of the covenants and agreements
made by Fund in this Agreement or in any other document or certificate delivered
by Fund at the Closing pursuant hereto.

     

    (b)           Notwithstanding
the foregoing, the indemnification obligations of Fund under Section 6.1(a)(i)
above shall (i) only arise if a claim for Damages shall be made in writing by
Vensure to Fund by December 31, 2009, (ii) only be applicable to Damages
incurred by Vensure Parties in excess of $150,000 (the “Indemnity Floor”),
and (iii) not be applicable to Damages incurred by Vensure Parties which shall
be in excess of $5.0 million (the “Indemnity
Cap”).  There shall be no Indemnity Cap with respect to the
matters contemplated by Section 6.1(a)(ii) above, and such indemnity obligations
shall survive indefinitely.  Any payment made to any of Vensure
Parties pursuant to the indemnification obligations under this Section 6.1 shall
constitute a reduction in value of the Series A Preferred Stock issued pursuant
to this Agreement.

     

    (c)           In
the event that any claim for Damages shall be asserted against any of the
Vensure Parties for which Fund is liable to indemnify against pursuant to this
Section 6.1, Fund shall have the sole right to conduct, at its or their expense,
the defense of any and all such claims with counsel of their choosing, and shall
have the sole right to effect any financial settlement of any such claims for
Damages; provided,
however, that if any such settlement would result in any injunction or
restrictions on the Vensure Parties, or otherwise require any of the Vensure
Parties to pay any ongoing royalties or other payments to any Person, no such
settlement may be effected by Fund without the prior written consent of
Venure.

     

    
      
        
        

      

      
        -14-

        
          

        

      

      
        
        

      

    

     

    6.2           Indemnification by
Vensure.

     

    (a)           From
and after the Closing, Vensure shall indemnify and hold harmless the Fund, its
affiliates, directors, officers and employees (collectively, the “Fund Parties”) from and
against any and all direct Damages finally awarded arising out of, resulting
from or in any way related to:

    

    (i)           a
breach by Vensure of its representations and warranties contained herein,
or

     

    (ii)           the
failure to perform or satisfy, when due, any of the covenants and agreements
made by Vensure or the Vensure Stockholders in this Agreement or in any other
document or certificate delivered by Vensure at the Closing pursuant
hereto.

     

    (b)           Notwithstanding
the foregoing, the indemnification obligations of Vensure under Section
6.2(a)(i) above shall (i) only arise if a claim for Damages shall be made in
writing by Fund to Vensure by December 31, 2009, (ii) only be applicable to
Damages incurred by Fund Parties in excess of $150,000 (the “Indemnity Floor”),
and (iii) not be applicable to Damages incurred by the Fund Parties which shall
be in excess of $5.0 million (the “Indemnity
Cap”).  There shall be no Indemnity Cap with respect to the
matters contemplated by Section 6.2(a)(ii) above, and such indemnity obligations
shall survive indefinitely.  Any payment made to any of Fund Parties
pursuant to the indemnification obligations under this Section 6.2 shall
constitute a reduction in value of the Certificate of Deposit paid pursuant to
this Agreement.

     

     (c)           In
the event that any claim for Damages shall be asserted against any of the Fund
Parties for which Vensure is liable to indemnify against pursuant to this
Section 6.2, Vensure shall have the sole right to conduct, at its or their
expense, the defense of any and all such claims with counsel of their choosing,
and shall have the sole right to effect any financial settlement of any such
claims for Damages; provided,
however, that if any such settlement would result in any injunction or
restrictions on the Fund Parties, or otherwise require any of the Fund Parties
to pay any ongoing royalties or other payments to any Person, no such settlement
may be effected by Vensure without the prior written consent of
Fund.

    

    6.3           Resolution of
Disputes.  Any
dispute arising under this Agreement which cannot be resolved among the Parties
shall be submitted to final and binding arbitration in accordance with the then
prevailing rules and regulations of the American Arbitration Association (the
“AAA”), located in New
York, New York.  There shall be three arbitrators, one selected by the
claimant, one selected by the respondent and the third arbitrator selected by
the AAA.  The decision and award of the arbitrators shall be final and
binding upon all Parties and may be enforced in any federal or state court of
competent jurisdiction.   Service of process on any one or more
Parties in connection with any such arbitration may be made by registered or
certified mail, return receipt requested or by email or facsimile
transmission.

    

    SECTION
7.  MISCELLANEOUS

    

    7.1           Waivers.  The
waiver of a breach of this Agreement or the failure of any Party hereto to
exercise any right under this Agreement shall in no way constitute waiver as to
future breach whether similar or dissimilar in nature or as to the exercise of
any further right under this Agreement.

    

    7.2           Amendment.  This
Agreement may be amended or modified only by an instrument of equal formality
signed by the Parties or the duly authorized representatives of the respective
Parties.

     

    
      
        
        

      

      
        -15-

        
          

        

      

      
        
        

      

    

     

    7.3           Assignment.  This
Agreement is not assignable except by operation of law.

    

    7.4           Notice.  Until
otherwise specified in writing, the mailing addresses and fax numbers of the
Parties of this Agreement shall be as follows:

    

    
      	
               
      

            	
              To:
      Vensure
      Employer Services, Inc.:

            

    

    

    Vensure Employer Services,
Inc.

    2730 South Val Vista Drive

    Suite 117

    Phoenix Arizona 85295

    Attn: Thomas Lindsay, CEO

    email: tom.lindsay@vensureinc.com

    

    
      	
               
      

            	
              To:
      Fund:

            

    

    

    Fund.com, Inc.

    14 Wall Street

    New York, New York 10005

    Attn:  Gregory Webster,
President

    Email:  gwebster@fund.com

    

    Any
notice or statement given under this Agreement shall be deemed to have been
given if sent by registered mail addressed to the other Party at the address
indicated above or at such other address which shall have been furnished in
writing to the addressor.

    

    7.5           Governing
Law.  This Agreement shall be construed, and the legal
relations between the Parties determined, in accordance with the laws of the
State of New York, thereby precluding any choice of law rules which may direct
the application of the laws of any other jurisdiction.

    

    7.6           Publicity.  No
publicity release or announcement concerning this Agreement or the transactions
contemplated hereby shall be issued by either Party hereto at any time from the
signing hereof without advance approval in writing of the form and substance by
the other Party.

    

    7.7           Entire
Agreement.  This Agreement (including the Schedules to be
attached hereto) and the collateral agreements executed in connection with the
consummation of the transactions contemplated herein contain the entire
agreement among the Parties with respect to the transactions contemplated
hereby, and supersedes all prior agreements, written or oral, with respect
hereof.

    

    7.8           Headings.  The
headings in this Agreement are for reference purposes only and shall not in any
way affect the meaning or interpretation of this Agreement.

     

    
      
        
        

      

      
        -16-

        
          

        

      

      
        
        

      

    

     

    7.9           Severability of
Provisions.  The invalidity or unenforceability of any term,
phrase, clause, paragraph, restriction, covenant, agreement or provision of this
Agreement shall in no way affect the validity or enforcement of any other
provision or any part thereof.

    

    7.10           Counterparts.  This
Agreement may be executed in any number of counterparts, each of which when so
executed, shall constitute an original copy hereof, but all of which together
shall consider but one and the same document.

    

    7.11           Binding
Effect.  This Agreement shall be binding upon the Parties
hereto and inure to the benefit of the Parties, their respective heirs,
administrators, executors,

    successors
and assigns.

    

    7.12           Press
Releases.  The Parties will mutually agree as to the wording
and timing of any informational releases concerning this transaction prior to
and through Closing.

    

    

    [the
balance of this page intentionally left blank – signature pages
follow]

     

    
      
        
        

      

      
        -17-

        
          

        

      

      
        
        

      

    

     

    IN WITNESS WHEREOF, the
Parties have executed this Agreement on the date first above
written.

    

    

    ATTEST:                                                                            
  FUND.COM, INC.

    (a Delaware corporation)

    

    

    /s/
Michael
Hlavsa                        
                                     By:
/s/
Gregory
Webster                                        

    Secretary                                                                                   
        Gregory Webster,
President

    

    VENSURE EMPLOYER SERVICES,
INC.

    (an Arizona corporation)

    

    

    By: /s/
Thomas
Lindsay                                           

                             
  Thomas Lindsay, President and CEO

    

    

    VENSURE STOCKHOLDER:

    

    

    /s/
Robert A.
Attridge                                              

          Robert A.
Attridge

    

    

    /s/
Thomas
Lindsay                                                   

          Thomas
Lindsay

    

    

    /s/ John
Iorillo                                                       

          John
Iorillo

    

    

    /s/
Robert G.
Morley                   
                         

          Robert G.
Morley

    

    

    /s/ Guy
Archambeau                                            

          Guy
Archambeau

    

    

    /s/ Ryan
Scott                                                      

          Ryan
Scott

    

    

    /s/
Matthew
Tonioli                    
                        

          Matthew
Tonioli

     

    
       

       

      -18-f8k110209ex10ii_fund.htm

     

    Exhibit
10.2

     

    RESTATED
ARTICLES OF INCORPORATION

    Pursuant
to A.R.S. Section 10-1006 and Section 10-1007

    

    
      	
              1.  

            	
              The
      name of the Corporation is:

            

    

    

    Vensure Employer Services,
Inc.

    

    
      	
              2.  

            	
              Attached
      hereto as Exhibit A is the text of each amendment
  adopted.

            

    

    

    
      	
              3.  

            	
              The
      amendment does
      not provide for an exchange, reclassification or cancellation of
      issued shares.

            

    

    

    
      	
              4.  

            	
              The
      amendment does
      provide for an exchange, reclassification or cancellation of issued
      shares.  (Please check either “A” or “B”
  below).

            

    

    

    
      	
               
      

            	
              A.  X_

            	
              Exhibit
      A contains
      provisions for implementing the exchange reclassification or
      cancellation of issued shares provided for
  therein.

            

    

    

    
      	
               
      

            	
              B.  __

            	
              Exhibit
      A does not
      contain provisions for implementing the exchange reclassification
      or cancellation of issued shares provided for
  therein.

            

    

    

    
      	
              5.  

            	
              The
      restated articles of incorporation were adopted on the  22nd
      day of September 2009.

            

    

    

    
      	
              6.  

            	
              The
      restated articles of incorporation were adopted by the (choose
      one):

            

    

    

    
      	
               
      

            	
              A.  __
      Incorporators
      (without shareholder action and either shareholder action was not required
      or no shares have been issued).

            

    

    

    
      	
               
      

            	
              B.  __

            	
              Board of
      Directors.  (without shareholder action and either
      shareholder action was not required or no shares have been
      issued).

            

    

    

    
      	
               
      

            	
              C.  X

            	
              Shareholders.

            

    

    

    
      	
               
      

            	
              There
      is one voting group eligible to vote on the restated articles of
      incorporation.  The designation of voting group entitled to vote
      separately on the restated articles of incorporation, the number of voters
      in each, the number of votes represented at the meeting at which the
      restated articles of incorporation were adopted and the votes cast for and
      against the restated articles of incorporation were as
      follows.

            

    

    

    The
voting group consisted of 10,000 outstanding shares of common stock, which is
entitled to a total of 10,000 votes, or one vote per share.  There
were 10,000 votes present at the meeting.  The voting group cast
10,000 votes for and no votes against approval or the restated articles of
incorporation.  The number of votes cast for approval of the restated
articles of incorporation was sufficient for approval by the voting
group.

    

    Dated:    this
29th day
of September 2009.

    

    

    Signature:     /s/
Thomas Lindsay_________________________________

    Thomas
Lindsay, President and Chief Executive Officer

    EXHIBIT
A

     

     

     

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

     

    
 

    FIRST
AMENDED AND RESTATED

    

    ARTICLES
OF INCORPORATION

    

    OF

    

    VENSURE
EMPLOYER SERVICES, INC.

    

    First:      The
name of the corporation is Vensure Employer Services, Inc. (the
“Corporation”).

    

    Second:  The
registered office of the Corporation in the State of Arizona is located at 2730
South Val Vista Drive, Suite 117, Gilbert, Arizona 85295. The Corporation may
contain an office, or offices, in such other places within or without the State
of Arizona as may be from time to time designated by the Board of Directors or
the By-Laws of the Corporation. The Corporation may conduct all corporate
business of every kind and nature outside the State of Arizona as well as within
the State of Arizona.

    

    Third:    The
objects for which this Corporation is formed are to provide business services
and to engage in any lawful act for any legal and lawful purpose.  In
addition, the Corporation:

    

    
      	
               
      

            	
              a)

            	
              shall
      have such rights, privileges and powers as may be conferred upon
      corporations by any existing law;

            

    

    

    
      	
               
      

            	
              b)

            	
              may
      at any time exercise such rights, privileges and powers, when not
      inconsistent with the purposes and objects for which this Corporation is
      organized.

            

    

    

    
      	
               
      

            	
              c)

            	
              shall
      have perpetual existence, until dissolved and its affairs are wound up
      in  accordance to law.

            

    

    

    
      	
               
      

            	
              d)

            	
              shall
      have power to sue and be sued in any court of law or
    equity.

            

    

    

    
      	
               
      

            	
              e)

            	
              shall
      have power to make contracts.

            

    

    

    
      	
               
      

            	
              f)

            	
              shall
      have power to hold purchase and convey real and personal estate and to
      mortgage or lease any real and personal estate with its franchises. The
      power to hold real and personal estate shall include the power to take the
      same by devise or bequest in the State of Arizona, or in any other state,
      territory or country.

            

    

    

    
      	
               
      

            	
              g)

            	
              shall
      have power to appoint such officers and agents as the affairs of the
      Corporation shall require, and to allow them suitable
      compensation.

            

    

    

    
      	
               
      

            	
              h)

            	
              shall
      have power to make By-Laws not inconsistent with the constitution or laws
      of the United States, or of the State of Arizona, for the management,
      regulation and government of its affairs and property, the transfer of its
      stock, the transaction of its business, and the calling and holding of
      meetings of it stockholders.

            

    

    

    
      	
               
      

            	
              i)

            	
              shall
      have power to wind up and dissolve itself, or be wound up or
      dissolved.

            

    

    

    
      	
               
      

            	
              j)

            	
              shall
      have power to adopt and use a common seal or stamp, and alter the same at
      pleasure. The use of a seal or stamp by the Corporation may use a seal or
      stamp, if it desires, but such use or nonuse shall not in any way affect
      the legality of the document.

            

    

     

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    
 

    
      	
               
      

            	
              k)

            	
              shall
      have the power to borrow money and contract debts when necessary for the
      transaction of its business, or for the exercise of its corporate rights,
      privileges or franchises, or for any other lawful purpose of its
      incorporation; to issue bonds, promissory notes, bills of exchange,
      debentures, and other obligations and evidences of indebtedness, payable
      at a specified time or times, or payable upon the happening of a specified
      event or events, whether secured by mortgage, pledge or otherwise, or
      unsecured, for money borrowed, or in payment for property purchased, or
      acquired, or for any other lawful
object.

            

    

    

    
      	
               
      

            	
              l)

            	
              shall
      have power to guarantee, purchase, hold, sell, assign, transfer, mortgage,
      pledge or otherwise dispose of the shares of the capital stock of, or any
      bonds, securities or evidences of the indebtedness created by, any other
      corporation or corporations of the State of Arizona, or any other state or
      government, and, while owners of such stock, bonds, securities or
      evidences of indebtedness, to exercise all rights, powers and privileges
      of ownership, including the right to vote, if
  any.

            

    

    

    
      	
               
      

            	
              m)

            	
              shall
      have power to purchase, hold, sell and transfer shares of its own capital
      stock, and use therefore its capital, capital surplus, surplus, or other
      property to fund.

            

    

    

    
      	
               
      

            	
              n)

            	
              shall
      have power to conduct business, have one or more offices, and conduct any
      legal activity in the State of Arizona, and in any of the several states,
      territories, possessions and dependencies of the United States, the
      District of Columbia, and any foreign
countries.

            

    

    

    
      	
               
      

            	
              o)

            	
              shall
      have power to do all and everything necessary and proper for the
      accomplishment of the objects enumerated in its certificate or articles of
      incorporation, or any amendment thereof, or necessary or incidental to the
      protection and benefit of the Corporation, and, in general, to carry on
      any lawful business necessary or incidental to the attainment of the
      objects of the Corporation, whether or not such business is similar in
      nature to the objects set forth in the certificate or articles of
      incorporation of the Corporation, or any amendments
    thereof.

            

    

    

    
      	
               
      

            	
              p)

            	
              shall
      have power to make donations for the public welfare or for charitable,
      scientific or educational purposes.

            

    

    

    
      	
               
      

            	
              q)

            	
              shall
      have power to enter into partnerships, general or limited, or joint
      ventures, in connection with any lawful activities, as may be allowed by
      law.

            

    

    

    
      	
               
      

            	
              r)

            	
              shall
      have the power to remove any Director of the Corporation with or without
      cause.

            

    

    

    Fourth:    The
total number of shares of capital stock authorized that may be issued by the
Corporation is Six Million (6,000,000) shares consisting of:

    

    
      	
               
      

            	
              a)

            	
              Five
      Million (5,000,000) shares of common stock, $0.001 par value per share
      (“Common Stock”), which shares may be issued by the Corporation from time
      to time for such considerations as may be fixed by the Board of Directors,
      and

            

    

    

    
      	
               
      

            	
              b)

            	
              One
      Million (1,000,000) shares of preferred stock, $0.001 par value per share
      (the “Preferred Stock”).

            

    

     

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    
 

    Common
Stock

    

    A.           General.  The
voting, dividend and liquidation rights of the holders of the Common Stock are
subject and subordinate to the rights of the holders of the Preferred
Stock.

    

    B.           Voting
Rights.  Each holder of record of Common Stock shall be
entitled to one vote for each share of Common Stock standing in such holder’s
name on the books of the Corporation.  Except as otherwise required by
law or Article IV of these Amended and Restated Articles of Incorporation or any
stockholders or shareholders' agreement to which the Corporation and its
shareholders may be party, the holders of Common Stock and, in the event and to
the extent that any Preferred Stock hereafter issued shall contain voting
rights, the holders of such Preferred Stock shall vote together as a single
class on all matters submitted to shareholders for a vote (including any action
by written consent).

    

    C.           Dividends.  Subject
to provisions of law and Article IV of these Amended and Restated Articles of
Incorporation, the holders of Common Stock shall be entitled to receive
dividends out of funds legally available therefor at such times and in such
amounts as the Board of Directors may determine in its sole
discretion.

    

    D.           Liquidation.  Subject
to provisions of law and Article IV of these Amended and Restated Articles of
Incorporation, upon any liquidation, dissolution or winding up of the
Corporation, whether voluntary or involuntary, after the payment or provisions
for payment of all debts and liabilities of the Corporation and all preferential
amounts to which the holders of the Preferred Stock are entitled with respect to
the distribution of assets in liquidation, the holders of Common Stock shall be
entitled to share ratably in the remaining assets of the Corporation available
for distribution.

    

    Preferred
Stock

     

    A.              General.  The
Preferred Stock may be issued from time to time in one or more series. Subject
to the limitations set forth herein and any limitations prescribed by law, the
Board of Directors is expressly authorized, prior to issuance of any series of
Preferred Stock, to fix by resolution or resolutions providing for the issue of
any series the number of shares included in such series and the designations,
relative powers, preferences and rights, and the qualifications, limitations or
restrictions of such series of Preferred Stock. Pursuant to the foregoing
general authority vested in the Board of Directors, but not in limitation of the
powers conferred on the Board of Directors thereby and by the Business
Corporation Act of the State of Arizona, the Board of Directors is expressly
authorized to determine with respect to each series of Preferred
Stock:

    

    (i)              the
designation or designations of such series and the number of shares (which
number from time to time may be decreased by the Board of Directors, but not
below the number of such shares then outstanding, or may be increased by the
Board of Directors unless otherwise provided in creating  such series)
constituting such series;

     
 

    (ii)              the
rate or amount and times at which, and the preferences and conditions under
which, dividends shall be payable on shares of such series, the status of such
dividends as cumulative or noncumulative, the date or dates from which
dividends, if cumulative, shall accumulate, and the status of such shares as
participating or nonparticipating after the payment of dividends as to which
such shares are entitled to any preference;

     
 

    (iii)              the
rights and preferences, if any, of the holders of shares of such series upon the
liquidation, dissolution or winding up of the affairs of, or upon any
distribution of the assets of, the corporation, which amount may vary depending
upon whether such liquidation, dissolution or winding up is voluntary or
involuntary and, if voluntary, may vary at different dates, and the status of
the shares of such series as participating or nonparticipating after the
satisfaction of any such rights and preferences;

     

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

     

    (iv)              the
full or limited voting rights, if any, to be provided for shares of such series,
in addition to the voting rights provided by law;

     

    (v)              the
times, terms and conditions, if any, upon which shares of such series shall be
subject to redemption, including the amount the holders of shares of such series
shall be entitled to receive upon redemption (which amount may vary under
different conditions or at different redemption dates) and the amount, terms,
conditions and manner of operation of any purchase, retirement or sinking fund
to be provided for the shares of such series;

     

    (vi)              the
rights, if any, of holders of shares of such series to convert such shares into,
or to exchange such shares for, shares of Common Stock or shares of any other
class or classes or of any other series of the same class, the prices or rates
of conversion or exchange, and adjustments thereto, and any other terms and
conditions applicable to such conversion or exchange;

     

    (vii)              the
limitations, if any, applicable while such series is outstanding on the payment
of dividends or making of distributions on, or the acquisition or redemption of,
Common Stock or any other class of shares ranking  junior, either as
to dividends or upon liquidation, to the shares of such series;

     

    (viii)              the
conditions or restrictions, if any, upon the issue of any additional shares
(including additional shares of such series or any other series or of any other
class) ranking on a parity with or prior to the shares of such series either as
to dividends or upon liquidation; and

     

    (ix)              any
other relative powers, preferences and participating, optional or other special
rights, and the qualifications, limitations or restrictions thereof, of shares
of such series; in each case, so far as not inconsistent with the provisions of
these Restated Articles of Incorporation or the Business Corporation Act of the
State of Arizona as then in effect.

    

    Fifth:       SERIES
A PREFERRED STOCK

    

    The
Corporation hereby authorizes the board of directors to issue, out of the
Corporation's authorized Preferred Stock, a series of 218,883.33 shares of
preferred stock, par value $0.001 per share, to be designated as its Series A
Preferred Stock (the "Series A Preferred
Stock"), and hereby states the designation and number of shares, and
fixes the relative rights, preferences, privileges, powers and restrictions
thereof, as follows:

    

    I. Designation and
Amount

    

    The
designation of this series, which consists of Two Hundred and Sixteen Thousand
Eight Hundred and Eighty Three and 33/100 (218,883.33) shares of Preferred
Stock, is the Series A Preferred Stock (the "Series A Preferred
Stock") and the stated value amount shall be One Hundred Dollars
($100.00) per share (the "Stated Value
").

     

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    
 

    II. Dividends

     

    A           Holders
of Series A Preferred Stock shall be entitled to receive dividends only when, as
and if declared by the Board of Directors of the Corporation.  No cash
dividends or distributions shall be declared or paid or set apart for payment on
the Common Stock unless such cash dividend or distribution is likewise declared,
paid or set apart for payment on the Series A Preferred Stock in an amount equal
to the dividend or distribution that would be payable if all of the issued and
outstanding shares of the Series A Preferred Stock had been fully converted into
Common Stock on the day immediately prior to the date which shall be the
earliest to occur of the declaration, payment, or distribution or such
dividend.

     

    B.           Payment
of dividends on the Series A Preferred Stock are prior and in preference to any
declaration or payment of any dividend or other distribution (as defined below)
on any outstanding shares of Junior Securities (as hereinafter
defined).

    

    III.
Conversion

    

    A.           Upon
not less than sixty one (61) calendar days prior written notice to the
Corporation (the “Conversion Notice”)
which may be given at any time on or after September 30, 2012 (which Conversion
Notice shall specify therein (i) the securities into which any shares of Series
A Preferred Stock are to be converted, and (ii) the date on which such shares of
Series A Preferred Stock shall be converted (the “Conversion Date”)),
all of the issued 218,883.33 shares Series A Preferred may be converted by the
Holders of all of such shares Series A Preferred Stock into either:

    

    (i)           twenty-five
percent (25%) of the issued and outstanding shares of Common Stock of the
Corporation as at the date of the original issuance of the Series A Preferred
Stock; or

    

    (ii)           forty
nine and one-half percent (49.5%) of the issued and outstanding shares of Common
Stock of Vensure Retirement
Administration, Inc., a Delaware corporation (“VRA”) as at the
Conversion Date.  As at the date of these Restated Articles of
Incorporation, VRA is a wholly-owned subsidiary of the Corporation.

    

    Accordingly, and based upon the
foregoing, each full share of Series A Preferred Stock shall be convertible into
either:

    

    (x)           that
number of shares of Common Stock of the Corporation as shall represent
0.00011421609% of the issued and outstanding shares of Common Stock of the
Corporation as at the Conversion Date; or

    

    (y)           
that number of shares of Common Stock of VRA as shall represent 0.00022614787%
of the issued and outstanding shares of Common Stock of VRA as at the Conversion
Date.

    

    B.           Notwithstanding
the provisions of Section A above of this Article III, the Corporation, by
resolution of its board of directors, may elect to cause the Holder(s) of all of
the shares of Series A Preferred Stock to convert the same only into forty nine
and one-half percent (49.5%) of the issued and outstanding shares of common
stock of VRA, as contemplated by Clause (ii) of Section A of this Article III
(the “VRA Conversion
Shares”).

     

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

    
 

    C.           In
the event that the Corporation shall make the election set forth in Paragraph B
above, it shall so advise the Holder(s) of such election not later than thirty
(30) days after receipt of the Conversion Notice, and the Holder(s) shall have
the right to rescind its or their Conversion Notice and the conversion of the
Series A Preferred Stock at any time prior to the Conversion Date.  In
addition, the Corporation shall obtain from a recognized business appraisal or
investment banking firm acceptable to the Holder(s) of the Series A Preferred
Stock, a fair market appraisal of the value of VRA and the VRA Conversion
Shares.  In the event and to the extent that the fair market value of
the VRA Conversion shares as at the date of such appraisal shall be less than
Twenty-Five Million ($25,000,000) Dollars, or $115.5357 per share of Series A
Preferred Stock so converted, then and in such event, the Corporation shall
cause VRA to issue to the Holder(s) that number of shares of the non-voting,
non-convertible preferred stock of VRA, $0.001 par value per share (the “VRA Preferred
Stock”), which when multiplied by its $1,000 stated or liquidation value,
and added to the per share fair market value of each of the VRA Conversion
Shares so issued to the Holder(s) shall equal $115.5357 per share, or
Twenty-Five Million ($25,000,000) Dollars if all 218,883.33 shares of Series A
Preferred Stock of the Corporation are converted into VRA securities pursuant to
Clause B above and this Clause C.

    

    D.           Upon
the surrender of Series A Preferred Stock Certificates accompanied by a Notice
of Conversion, the Corporation (itself, or through its transfer agent, as
appropriate) shall, no later than the later of (a) the fifth (5th) Business Day
following the Conversion Date and (b) the Business Day immediately following the
date of such surrender (the "Delivery Period"),
issue and deliver (i.e., deposit with a nationally recognized overnight courier
service portage prepaid) to the Holder or its nominee (x) that number of shares
of Common Stock or VRA capital stock, as applicable, issuable upon conversion of
such shares of Series A Preferred Stock being converted and (y) a certificate
representing the number of shares of Series A Preferred Stock not being
converted, if any.  Notwithstanding the foregoing, the Holder of
Series A Preferred Stock shall, for all purposes, be deemed to be a record owner
of that number of shares of Common Stock or VRA capital stock, as applicable,
issuable upon conversion of those shares of Series A Preferred Stock set forth
in the Conversion Notice as at the date of such Conversion Notice.

    

    E.           Taxes.  The
Corporation shall pay any and all taxes that may be imposed upon it respect to
the issuance and delivery of the shares of Common Stock or VRA capital stock (as
applicable) upon the conversion of the Series A Preferred Stock.

     

    F.           No Fractional
Shares.  If any conversion of Series A Preferred Stock would
result in the issuance of a fractional share of Common Stock (aggregating all
shares of Series A Preferred Stock being converted pursuant to a given Notice of
Conversion), such fractional share shall be payable in cash. If the Corporation
elects not to, or is unable to, make such a cash payment, the Holder shall be
entitled to receive, in lieu of the final fraction of a share, one whole share
of Common Stock or one whole share of VRA capital stock, as
applicable..

    

    IV. Rank

    

    All
shares of the Series A Preferred Stock shall rank (i) senior to
the Corporation's Common Stock and any other class of securities which is
specifically designated as junior to the Series A Preferred Stock (collectively,
with the Common Stock, the "Junior Securities");
(ii) pari
passu with
any other class or series of Preferred Stock of the Corporation hereafter
created (with the written consent of the Holders of Series A Preferred Stock
obtained in accordance with Article VII hereof) specifically ranking, by its
terms, on parity with the Series A Preferred Stock (the "Pari Passu
Securities"); and (iii) junior to
the Corporation’s any class or series of capital stock of the Corporation
hereafter created (with the written consent of the Holders of Series A Preferred
Stock obtained in accordance with Article VII hereof) specifically ranking, by
its terms, senior to the Series A Preferred Stock (collectively, the "Senior Securities"),
in each case as to distribution of assets upon liquidation, dissolution or
winding up of the Corporation, whether voluntary or involuntary.

     

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    
 

    V. Liquidation
Preference

    

    A.           In
the event of any liquidation, dissolution or winding up of the Corporation,
either voluntary or involuntary, after payment or provision for payment of any
distribution on any Senior Securities, the Holders of the Series A Preferred
Stock shall be entitled to receive, on a pari passu
basis with the holders of the Pari Passu Securities, and
prior and in preference to any distribution of any of the assets or surplus
funds of the Corporation to the holders of the Common Stock by reason of their
ownership of such stock, an amount equal to the sum of (x) $100.00 for each
share of Series A Preferred Stock then held by them (the " Series A Liquidation
Preference Price"), and (y) an amount equal to all unpaid dividends on
the Series A Preferred Stock, if any.  If upon the occurrence of a
liquidation, dissolution or winding up of the Corporation the assets and funds
thus distributed among the holders of the Series A Preferred Stock and the Pari Passu Securities
shall be insufficient to permit the payment to such holders of the full
liquidation preference amount based on the Initial Series A Liquidation
Preference Price, then the entire assets and funds of the Corporation legally
available for distribution shall be distributed ratably among the holders of the
Series A Preferred Stock and the Pari Passu Securities in
proportion to the preferential amount each such holder is otherwise entitled to
receive.

    

    B.           Upon
the occurrence of a Sale of Control (as defined in paragraph E below), in
addition to the right of the Holder(s) of the Series A Preferred Stock to
receive, prior to any payments or distributions in respect of outstanding shares
of Common Stock, the Series A Liquidation Preference Price and other payments
contemplated by paragraph A of this Article V, the Holder of the Series A
Preferred Stock shall be entitled to participate with the holders of the Common
Stock in the receipt of any additional consideration payable upon such Sale of
Control to the extent of 0.00011421609% of such additional consideration for
each one (1) share of Series A Preferred Stock then owned by the Holder(s), or
as to all 218,883.33 shares of Series A Preferred Stock, an aggregate of
twenty-five percent (25%) of all such additional consideration payable upon such
Sale of Control in excess of the amounts contemplated by paragraph A of this
Article V.

    

    C.           After
setting apart or paying in full the preferential amounts due pursuant to
paragraph A of this Article V, the remaining assets of the Corporation available
for distribution to stockholders, if any, shall be distributed to the holders of
the Series A Preferred Stock Common Stock on a pro rata basis, based on the
number of shares of Common Stock then held by each Holder, as though all shares
of Series A Preferred Stock had been converted into Common Stock immediately
prior to the date of such distribution.

    

    D.           For
purposes of this Article V, a Sale of Control shall be deemed to be a
liquidation, dissolution or winding up of the Corporation.

    

    E.           As
used herein, the term “Sale of Control”
shall mean the sale or transfer of all or substantially all of the shares of
capital stock or assets of the Corporation and its consolidated Subsidiaries,
whether through merger, consolidation, asset sale, tender offer or like
combination or consolidation, to any Person who is not an
Affiliate of the Corporation immediately prior to such Sale of Control;
provided, however, that the term “Sale of Control” shall not mean or include a
transaction whereby the Corporation shall merge with or otherwise be acquired by
a publicly traded corporation or other entity that, at the time of such merger
or acquisition does not conduct any active trade or business (a “Reverse Merger
Transaction”).

     

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

    
 

    VI. Voting Rights

    

    A.           Class Voting
Rights.   Holders of the Series A Preferred Stock shall
vote together as a separate class on all matters which impact the rights, value
or conversion terms, or ranking of the Series A Preferred Stock, as provided
herein.

    

    B.           No Other Voting
Rights.  Except for the provisions of Section A of this Article
VI and the protective provisions set forth in Article VII below, Holders of the
Series A Preferred Stock shall have no voting rights.

    

    VII.
Protection
Provisions

    

    Until the
occurrence of a Liquidity Event, for so long as 218,883.33 shares (as adjusted
for stock splits, stock dividends, recapitalizations and the like) of Series A
Preferred Stock are held of record by the Holder(s) of Series A Preferred Stock
(i) the affirmative vote or written consent of the Holders of a majority of the
issued and outstanding shares of Series A Preferred Stock (the “Majority Holders”),
voting or consenting as a separate class, given in person or by proxy, or (ii)
if such matter may, under the Business Corporation Act of the State of Arizona,
be validly enacted and adopted by the Board(s) of Directors of the Corporation
or any of its Subsidiaries, the affirmative vote or written consent of all of
the persons designated by the Majority Holders to serve as members of the board
of directors of the Corporation, shall be necessary for authorizing, approving,
effecting or validating any of the following (each a Major
Transaction”):

    

    1.           Any
amendment or modification of the Corporation’s Certificate of Incorporation or
by-laws.

    

    2.           Any
amendment to the Investment Agreement, dated September 24, 2009 among the
Corporation, Fund.com, Inc., certain persons designated as “Investors” and the
holders of a majority of the outstanding Common Stock of the Corporation (the
“Investment
Agreement”), the Securities Purchase Agreement dated September 24, 2009
between the Corporation and Fund.com, Inc., or any other Transaction Document
constituting an exhibit to the Investment Agreement.

    

    3.           Any
amendment or modification to these Restated Articles of
Incorporation.

    

    4.           Any
amendment to the terms and conditions of the Series A Preferred
Stock.

    

    5.           Creating
or issuing any Senior Securities or Pari Passu Securities.

    

    6.           The
acquisition of the securities, assets, properties or business of any Person
involving consideration or other expenditures with a value equal to or greater
than $25,000 or involving the issuance of securities of the Corporation having
value greater than $25,000.

     

    7.           The
issuance or sale of any shares of capital stock or other securities of the
Corporation or any subsidiary.

     

    8.           Any
change the fundamental nature of the business of the Corporation and its
subsidiaries, as contemplated by the Investment Agreement and related
Transaction Documents.

     

    9.           The
redemption, repurchase or other acquisition for value (or payment or setting
aside of a sinking fund for such purpose), or the declaration of setting aside
of funds for the payment of any dividend with respect to, any shares of capital
stock of the Corporation or any Corporation subsidiary, except for repurchases
of shares of Common Stock from employees, officers, directors or consultants
pursuant to agreements currently in force in which the Corporation has the right
to repurchase such shares, such as termination of employment.

     

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

     

    10.           The
sale, assignment, license, lease or other disposal of all or substantially all
of the assets of the Corporation or any of the Corporation Subsidiaries, or the
consent to any liquidation, dissolution or winding up of the Corporation or any
Corporation Subsidiaries, except that any wholly-owned Corporation subsidiary
may merge into or consolidate with any other wholly-owned Corporation subsidiary
or transfer assets to any other wholly-owned Corporation subsidiary and any
wholly-owned Corporation subsidiary may transfer assets to the
Corporation.

     

    11.           Any
change in the number of Persons constituting all of the members of the Board of
Directors of the Corporation.

     

    12.           Any
change in the senior executive officers of the Corporation and the Corporation
Subsidiaries, including the termination or hiring of any senior executive
officer of the Corporation or any Corporation subsidiary.

     

    13.           The
pledge of any assets of the Corporation or any Corporation Subsidiaries to
secured indebtedness in excess of $25,000.

     

    14.           Except
for (a) indebtedness incurred in connection with capital lease and/or real
estate lease obligations incurred in the ordinary course of business, or (b)
indebtedness existing as at the date hereof (collectively, “Excluded
Indebtedness”), the creation, incurrence, assumption, guarantee or
otherwise becoming liable or obligated with respect to any indebtedness on
behalf of the Corporation and any Corporation subsidiary in an amount greater
than $25,000; provided, that, except for Excluded Indebtedness, the aggregate of
all such indebtedness outstanding at any one time shall not exceed an aggregate
of $100,000, without the prior written approval of the Majority Investors, or
all of the Investor Designees on the Board of Directors of the
Corporation.

     

    15.           The
sale, transfer, conveyance or disposal of assets in excess of
$100,000;

     

    16.           The
consummation of any Liquidity Event (as that term is defined in a stockholders
agreement, dated September 24, 2009 among the Corporation, the Investors and the
holders of a majority of the outstanding Common Stock of the Corporation (the
“Stockholders
Agreement”)) or the entering into any agreement or commitment to
consummate a Liquidity Event.

     

    17.           The
consummation of any Related Party Transaction (as that term is defined in the
Stockholders Agreement) or the entering into any agreement or commitment to
consummate a Related Party Transaction.

     

    18.           Any
increase of the annual rate of compensation of any executive officer of the
Corporation or any Corporation subsidiary or the payment of any bonus to such
Person, except for (a) annual salary increases not to exceed 5% per annum, or
(b) increases set forth in employment agreements which have been previously
approved by the Majority Investors, or all of the Investor Designees on the
Board of Directors of the Corporation.

    

    19.           The
creation, amendment or modification of any stock option plan or any profit
sharing or stock incentive or other equity based compensation plan or
program.

     

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

    
 

    VIII.
Miscellaneous

    

    A.           Cancellation of Series A
Preferred Stock If any shares of Series A Preferred Stock are converted,
the shares so converted or redeemed shall be canceled, shall return to the
status of authorized, but unissued Series A Preferred Stock of no designated
series, and shall not be issuable by the Corporation as Series A Preferred
Stock.

    

    B.           Lost or Stolen
Certificates. Upon receipt by the Corporation of (i) evidence of the
lost, theft, destruction or mutilation of any Series A Preferred Stock
Certificate(s) and (ii) (y) in the case of loss, theft or destruction, indemnity
(without any bond or other security) reasonably satisfactory to the Corporation,
or (z) in the case of mutilation, the Series A Preferred Stock Certificate(s)
(surrendered for cancellation), the Corporation shall execute and deliver new
Series A Preferred Stock Certificate(s) of like tenor and
date.  However, the Corporation shall not be obligated to reissue such
lost, stolen, destroyed or mutilated Series A Preferred Stock Certificate(s) if
the Holder contemporaneously requests the Corporation to convert such Series A
Preferred Stock.

    

    C           Waiver
Notwithstanding any provision in this Certificate of Designation to the
contrary, any provision contained herein and any right of the Holders of Series
A Preferred Stock granted hereunder may be waived as to all shares of Series A
Preferred Stock (and the Holders thereof) upon the written consent of the
Majority Holders, unless a higher percentage is required by applicable law, in
which case the written consent of the Holders of not less than such higher
percentage of shares of Series A Preferred Stock shall be required.

    

    D.             Information Rights So
long as shares of Series A Preferred Stock are outstanding, the Corporation will
deliver to each Holder of Series A Preferred Stock (i) audited annual financial
statements to the Holders of Series A Preferred Stock within 90 days after the
end of each fiscal year; (ii) and unaudited quarterly financial statements
within 45 days of the end of each fiscal quarter.

    

    E           Notices. Any notices
required or permitted to be given under the terms hereof shall be sent by
certified or registered mail (return receipt requested) or delivered personally,
by nationally recognized overnight carries or by confirmed facsimile
transmission, and shall be effective five days after being placed in the mail,
if mailed, or upon receipt or refusal of receipt, if delivered personally or by
nationally recognized overnight carrier or confirmed facsimile transmission, in
each case addressed to a party. The addresses for such communications are (i) if
to the Corporation to Vensure Employer Services, Inc. 2730 South Val Vista
Drive, Suite 117, Gilbert, Arizona 85295, attn: Chief Executive Officer; and
(ii) if to any Holder to the address set forth in the securities purchase
agreement between Fund.com Inc. and the Corporation, dated September 24, 2009,
or such other address as may be designated in writing hereafter, in the same
manner, by such person.

    

    Sixth:      The
governing board of the Corporation shall be known as the Board of Directors, and
the number of Directors may from time to time be increased or decreased in such
manner as shall be provided by the By-Laws of this Corporation, providing that
the number of Directors shall not be reduced to fewer than five
(5).

    

    Seventh:  The
Resident Agent for this Corporation shall be Robert G. Morley, Esq. The address
of the Resident Agent and the registered or statutory address of this
Corporation in the State of Arizona shall be at 2730 South Val Vista Drive,
Suite 117, Gilbert, Arizona 85295.

     

     

    
 

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

    

    I, the undersigned, being the President
and Chief Executive Officer of the Corporation, do make and file these Restated
Articles of Incorporation, hereby declaring and certifying that the facts herein
stated are true and accordingly have hereunto set my hand this 29th day
of September 2009.

    

    VENSURE EMPLOYER SERVICES,
INC.

     

     

    By: /s/
Thomas Lindsay 

    Name:  Thomas
Lindsay

    Title:    President
and CEO

     

     

     

     

     

     

    -12-

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