Document:

mmpw_ex101.htm

EXHIBIT 10.1
 
Employment Agreement
 
1. TITLE
 
Robert Weiss (RSW) shall be the Chief Executive Officer and President of Multimedia Platforms, Inc. ("MMPW"). RSW shall be the Chairman and Chief Executive Officer of WiRLD Media, Inc. ("WIRLD"). RSW will report to the Board of Directors of MMPW (the "Board"). For the sake of this agreement, both MMPW and WIRLD shall be collectively referred to as the "Company." 
 
2. TERM
 
Initial contract will be three (3) years. RSW's term of employment shall begin on May 25, 2016. The Board will have an exclusive 90-day period (beginning one year prior to end of contract) to negotiate a new contract, if desired.
 
3. GENERAL DUTIES
 
RSW will have all the responsibilities that a CEO normally has in a public media company, including but not limited to overseeing the day-to-day management of the Company, the full authority to enter into legal agreements for the Company, to set all budgets and direct the spending of financial resources for the Company, to establish and then lead the overall short-term and long-term strategies for the Company, to lead the branding/PR initiatives for the Company, and to hire and/or terminate employees, contractors, freelancers and consultants for the Company.
 
4. SALARY
 
	(a) 	RSW's yearly base salary shall be at an annual rate of $250,000 ("Base Salary") during the first 12 months of his Term. But, in consideration of the current funding and cash-flow circumstances, RSW agrees to defer and accrue this full Base Salary (the "Deferred Funds") through December 31, 2016 (the "Deferment Period"). During this Deferment Period, the Company will pay RSW a total of $1 each day (the "Reduced Salary) for his services.

 
 
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	(b) 	In consideration for deferring and accruing his Base Salary, on RSW's first day of employment with the Company, the Company shall grant to RSW 1,000,000 fully-vested stock options with a strike price of 3-cents. The classification of these stock options, ISO or NSO, shall be at RSW's determination subject to any legal restrictions. For these Stock Options, as well as all other Stock Options granted in this agreement, RSW shall have 10 years to exercise such options whether or not he is still employed with the Company. The Company acknowledges that it has now adopted the 2016 Equity Incentive Plan (the "Equity Plan ").

		
	(c) 	The Company shall pay RSW the Deferred Funds no later than January 6, 2017 (the "Deferred Payments Deadline"). If RSW has not been paid all of the Deferred Funds by the Deferred Payments Deadline, then any unpaid portion of the Deferred Funds shall earn 10% annualize interest (compounded monthly) until all Deferred Funds are fully paid to RSW. If all Deferred Funds are not fully paid to RSW (with any interest) by May 31, 2017, then the Company shall issue to RSW fully-vested stock options (the "Penalty Stock Options") with equivalent value to the amount of Deferred Funds that RSW is still owed. These stock options shall have a strike price of 3-cents. The classification of these stock options, ISO or NSO, shall be at RSW's determination subject to any legal restrictions. Penalty Stock Options are in addition to any Deferred Funds that RSW is owed. And, if all remaining Deferred Funds are not fully paid to RSW (with any interest) by August 31, 2017, then the Company is considered in breach of RSW's contract. For this breach of contract, RSW is no longer obligated to serve as CEO/President and Chairman/CEO, and the Company shall pay RSW a sum of money equal to double the number of months of RSW's employment times his monthly Base Salary ("RSW Salary Payout"); and all of RSW's stock options and/or warrants become fully vested. If all the RSW Salary Payout, all unpaid Base Salary, all unpaid Deferred Funds, and any unreimbursed business expenses are not paid to RSW within 10 business days of this breach of contract, then any unpaid money collectively earns 10% annualize interest (compounded monthly) until all monies are fully paid to RSW.

		
	(d) 	After the Deferment Period, if RSW is not paid his full bi-weekly salary payment in any given Company pay cycle, then the Company shall issue to RSW fully-vested Penalty Stock Options with equivalent value to the amount of money that RSW should have been paid. These stock options shall have a strike price of 3-cents. The classification of these stock options, ISO or NSO, shall be at RSW's determination subject to any legal restrictions. Penalty Stock Options are in addition to any salary that RSW is owed for that pay period.

 
 
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	(e) 	After the Deferment Period, if RSW is not paid for two consecutive pay cycles, then the Company is considered in breach of RSW's contract. For this breach of contract, RSW is no longer obligated to serve as CEO/President and Chairman/CEO, and the Company shall pay RSW the RSW Salary Payout; and all of RSW's stock options and/or warrants become fully vested. If all the RSW Salary Payout, all unpaid Base Salary, all unpaid Deferred Funds, and any unreimbursed business expenses are not paid to RSW within 10 business days of this breach of contract, then any unpaid money collectively earns 10% annualize interest (compounded monthly) until all monies are fully paid to RSW.

		
	(f) 	RSW's annual base salary increases will be set by the Board, but his base salary shall increase by no less than $25,000 per year with each increase occurring on the anniversary date of RSW's employment with the Company.

 
5. PAYMENT OF PREVIOUS DEBTS
 
	(a) 	The Company acknowledges that it owes Golden Gut Entertainment ("GGE") a total of $108,966 in past-due payments (the "Legacy Payments") as of May 2, 2016, for the prior consulting services of RSW.

		
	(b) 	The Legacy Payments shall be paid to GGE according the following schedule ("Legacy Payment Deadline"): $18,466 no later than RSW's first day of employment with the Company; $6,500 no later than June 1, 2016; $15,000 no later than June 15, 2016; $6,500 no later than July 1, 2016; $15,000 no later than July 15, 2016; $6,500 no later than August 1, 2016; $15,000 no later than August 15, 2016; $6,500 no later than September 1, 2016; $6,500 no later than October 1, 2016; $6,500 no later than November 1, 2016; and $6,500 no later than December 1, 2016.

 
 
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	(c) 	If the Company fails to pay GGE a Legacy Payment before any Legacy Payment Deadline, then the Company shall issue to RSW fully-vested Penalty Stock Options with equivalent value to the amount of money that GGE should have been paid. These stock options shall have a strike price of 3-cents. The classification of these stock options, ISO or NSO, shall be at RSW's determination subject to any legal restrictions. These Penalty Stock Options are in addition to any Legacy payments that GGE is owed for that month.

		
	(d) 	If the Company fails to pay GGE a Legacy Payment before any Legacy Payment Deadline for two consecutive months, then the Company is considered in breach of RSW's contract. For this breach of contract, RSW is no longer obligated to serve as CEO/President and Chairman/CEO, and the Company shall pay RSW the RSW Salary Payout; and all of RSW's stock options and/or warrants become fully vested. If all the RSW Salary Payout, all unpaid Base Salary, all unpaid Deferred Funds, and any unreimbursed business expenses are not paid to RSW within 10 business days of this breach of contract, and if all unpaid Legacy Payments are not paid to GGE within 10 business days of this breach of contract, then any unpaid money collectively earns 10% annualize interest (compounded monthly) until all monies are fully paid to RSW and GGE.

 
6. EQUITY
 
	(a) 	Under the Company's Equity Plan, on RSW's first day of employment with the Company, the Company will grant to RSW an additional 3,000,000 non-vested stock options ("RSW's Equity") with a strike price of 3-cents. RSW's Equity will vest in equal, monthly amounts over the term of RSW's initial 3-year employment term. The classification of these stock options, ISO or NSO, shall be at RSW's determination subject to any legal restrictions.

		
	(b) 	Under the Company's Equity Plan, RSW's shall receive a yearly grant of fully-vested, stock options which shall be paid and awarded to RSW within five days after the Company files its Form 10-K with the SEC for Q4 of the previous calendar year. The size of the grant shall be determined by the Board, but shall be commensurate with that of other executives in similar companies. The classification of these stock options, ISO or NSO, shall be at RSW's determination subject to any legal restrictions.

		
	(c) 	If there is a "change of control" in the Company, then all equity and/or stock options and/or warrants shall vest immediately.

 
 
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7. MERIT-BASED AND DISCRETIONARY BONUSES
 
	(a) 	The performance metrics that dictate RSW's cash bonus shall be mutually agreed to by the Board and by RSW no later than 90 days after the commencement of RSW's employment. In RSW's first year of employment, RSW's performance-based cash bonus amount shall be set solely by the Board no later than 90 days after commencement of his employment. In the second and third year of RSW's employment, RSW's performance-based cash bonus amount shall be set solely by the Board no later than December 31st. During the term of RSW's employment, RSW's bonus target shall never be less than 100% of his current Base Salary.

		
	(b) 	In RSW's first year of employment, the performance metrics that dictate RSW's equity bonus shall be mutually agreed to by the Board and by RSW no later than 90 days after the commencement of RSW's employment (the "Equity Bonus Performance Metrics). In the second and third year of RSW's employment, the Equity Bonus Performance Metrics shall be mutually agreed to by the Board and by RSW no later than December 31st. On RSW's first day of employment with the Company, the Company will grant to RSW an additional 3,000,000 non-vested stock options with a strike price of 3-cents ("RSW's Equity Pool"). During RSW's initial 3-year term, RSW's Equity Pool will vest according to the yearly Equity Performance Metrics referenced above. The Equity Performance Metrics will collectively determine the exact percentage of distribution of RSW's Equity Pool in any given year of RSW's employment. The classification of these stock options, ISO or NSO, shall be at RSW's determination subject to any legal restrictions.

		
	(c) 	Both the cash bonus and equity bonuses (collectively, the "Merit-Based Bonuses") shall be paid and awarded to RSW within five days after the Company files its Form 10-K with the SEC for Q4 of the previous calendar year. Under no circumstances shall the cash and equity bonuses be paid to RSW any later than March 31 in any given year. If the Company changes its fiscal year, all cash and option vesting bonuses for a period of less than 12 months shall be pro rated so the Executive shall not be penalized as a result.

 
 
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	(d) 	During the Term of RSW's employment, the Board shall have the authority to award RSW a Discretionary Bonus, in cash or the Company's common stock, based upon the Executive's job performance, the Company's revenue growth or any other factors as determined by the Compensation Committee.

		
	(e) 	To the extent that the Company's Founder/Chairman of the Board (the "Founder") receives any bonuses for services during any year of RSW's employment, including any Milestone Bonuses, then RSW shall receive a discretionary bonus equal to 100% of any bonuses awarded to the Founder/Chairman of the Board with identical terms and conditions.

 
8. BOARD MEMBERSHIP
 
RSW shall serve as a member of the Board for as long as services are rendered in the capacity of CEO/President of MMP, Chairman/CEO of WIRLD, or as an advisor to the Company.
 
9. TERMINATION
 
	(a) 	In the event that the Board terminates RSW with cause, RSW would not be entitled to any additional options or warrants beyond those that have already vested. RSW would not be entitled to any severance payments or any merit bonus. RSW would still be paid all unpaid Base Salary, all unpaid Deferred Funds, and any unreimbursed business expenses, and GGE would be paid all unpaid Legacy Payments, (collectively, the "Termination Payments.) The Termination Payments must be paid in full to RSW and/or GGE within 10 business days of RSW's termination date or any unpaid balance of Termination Payments shall be subject to an annualized interest rate of 10% (compounded monthly).

		
	(b) 	In the event that the Board terminates RSW without cause, the Board removes RSW, there is a breach in RSW's employment contract, or there is a reduction in RSW's responsibilities or Base Salary – then all of RSW's options and warrants shall become fully vested. RSW shall also receive a severance payment equal to the remaining base salary owed on RSW's contract or 2x RSW's current base salary, whichever is greater ("RSW Severance"). In addition, RSW shall receive Merit-Based Bonuses equal to the most recently received Merit-Based Bonuses, and RSW shall still be paid all unpaid Base Salary, all unpaid Deferred Funds, and any unreimbursed business expenses, and GGE would be paid all unpaid Legacy Payments, (collectively, the "Termination Payments.) The Termination Payments must be paid in full to RSW and/or GGE within 10 business days of RSW's termination date or any unpaid balance of Termination Payments shall be subject to an annualized interest rate of 10% (compounded monthly). 

 
 
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	(c) 	Notwithstanding any of the above, in the event RSW voluntarily terminates his employment with the Company, then RSW would not be entitled to any additional options or warrants beyond those that have already vested. RSW would not be entitled to any severance payments or any merit bonuses. RSW would still be paid all unpaid Base Salary, all unpaid Deferred Funds, and any unreimbursed business expenses, and GGE would be paid all unpaid Legacy Payments, (collectively, the "Termination Payments.) The Termination Payments must be paid in full to RSW and/or GGE within 10 business days of RSW's termination date or any unpaid balance of Termination Payments shall be subject to an annualized interest rate of 10% (compounded monthly). If requested by the Board, RSW would be required to serve as an advisor to the Company for the duration of his term. Compensation for serving as an advisor would be determined by the Board, but shall be no less than $50,000 a year.

 
10. ADDITIONAL TERMS
 
	(a) 	RSW shall receive the customary employee benefits (medical/dental/vision insurances, life/disability insurances, retirement/401K investing plans, leaves of absence) to be determined by the Board. If the Company does not offer medical/dental/vision insurances, and if legally possible, then the Company will reimburse RSW for reasonable costs to cover such insurance.

		
	(b) 	The exact amount of RSW's paid vacation time shall be set by the Board, but shall be no less than four (4) weeks in addition to holidays. Any unused days will be carried over to the next 12-month period.

 
 
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	(c) 	The Company shall reimburse and/or advance funds to RSW for reasonable business expenses relating to his job as CEO/President. These include but as not limited to job-related transportation, airline and train travel, hotel accommodations, cellphone usage, business meals and business entertainment.

		
	(d) 	Until the Company raises at least $1,500,000 in new capital from the execution date of this agreement, unless RSW gives his written or emailed his permission, the Company shall not publicize RSW's employment in any manor, including but not limited to any formal press release targeting the media, LGBTQ or entertainment communities. But, the Company may do the following regarding RSW's employment: file the required 8K with the SEC; issue a press release targeting the financial/business community; and have direct conversations with potential investors and bankers.

		
	(e) 	The Company will defend and indemnify RSW against all third-party claims, actions, lawsuits, proceedings, demands, judgments, expenses (including reasonable attorney fees), and losses/damages resulting from RSW's duties and obligations with the Company. And, the Company will maintain both D&O and E&O insurance commensurate with other publicly-held companies that covers RSW in his role as CEO/President and as a member of the Board of the Company.

		
	(f) 	RSW shall have complete discretion over issuing both Incentive Stock Options (ISOs) and Non-Qualified Stock Options (NSOs) to employees, contractors, freelancers and consultants for the Company. However, RSW cannot issue any single ISO or NSO that has a fair market value greater than $100,000 without the explicit approval of the Board. In addition, RSW cannot issue ISOs or NSOs to any officer of the company, including himself, without the explicit approval of the Board.

		
	(g) 	Most Favored Nations: Any compensation and benefits awarded to the Founder, as well as other provisions of the Founder's Employment Agreement or arrangement, be identical to those of the Executive, except as otherwise provided in Section 4(c) of the Founder's Employment Agreement. Accordingly, any more favorable provisions afforded to the Founder shall be deemed to be incorporated in this agreement and be considered an amendment to this agreement unless RSW elects otherwise.

		
	(h) 	Additional terms will be determined by the Board and RSW and shall be mutually agreed upon prior to start of employment as CEO/President. A more formal and more detailed Employment Agreement shall be completed no later than 45days after the start of RSW's term.

 
 
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ACCEPTED, ACKNOWLEDGED AND AGREED: 
 
 
	Multimedia Platforms, Inc. 
		Robert Weiss 
	
		 
	 
	 
	 
	 

	By:	/s/ Robert Blair	 
	By:
	/s/ Robert Weiss	 

	Name	Robert Blair	 
	Name
	Robert Weiss	 

	Title	Chairman	 
	Title
	Chief Executive Officer	 

	Date:			Date:		

 
 
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EXHIBIT 10.2
 
EMPLOYMENT AGREEMENT
 
THIS EMPLOYMENT AGREEMENT (the "Agreement") is entered into as of June 2, 2016 (the "Effective Date"), between Multimedia Platforms Inc., a Nevada corporation (the "Company"), and Robert Blair (the "Executive").
 
WHEREAS, the Company has entered into an Employment Agreement with the Executive dated June 25, 2015 (the "Original Agreement");
 
WHEREAS, the Company and the Executive have had discussions about modifying the Original Agreement to permit the Company to hire a new Chief Executive Officer and the Executive to become Chairman of the Board; and 
 
WHEREAS, the Company desires to continue to employ the Executive and to ensure the continued availability to the Company of the Executive's services, and the Executive is willing to accept such employment and render such services, all upon and subject to the terms and conditions contained in this Agreement.
 
NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth in this Agreement, and intending to be legally bound, the Company and the Executive agree as follows:
 
1. Representations and Warranties. The Executive hereby represents and warrants to the Company that he (i) is not subject to any non-solicitation or non-competition agreement affecting his employment with the Company (other than the Original Agreement with the Company), (ii) is not subject to any confidentiality or nonuse/nondisclosure agreement affecting his employment with the Company (other than the Original Agreement with the Company), and (iii) has brought to the Company no trade secrets, confidential business information, documents, or other personal property of a prior employer.
 
2. Term of Employment.
 
(a) Term. The Company hereby employs the Executive, and the Executive hereby accepts employment with the Company for a period of three years commencing as of the Effective Date (such period, as it may be extended or renewed, the "Term"), unless sooner terminated in accordance with the provisions of Section 6. The Term shall be automatically renewed for successive one-year terms unless notice of non-renewal is given by either party at least 30 days before the end of the Term.
 
(b) Continuing Effect. Notwithstanding any termination of this Agreement, at the end of the Term or otherwise, the provisions of Sections 4(b), 6(e), 7, 8, 9, 10, 12 15, 18, 19, and 22 shall remain in full force and effect and the provisions of Section 9 shall be binding upon the legal representatives, successors and assigns of the Executive. Provided, however, if the Executive is terminated without Cause or if he terminates his employment for Good Reason as those terms are defined in Sections 6(b) and (c), the provisions of Section 8(a) and 8(b) shall not apply. 
 
	 
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3. Duties.
 
(a) General Duties. The Executive shall serve as the Chairman of the Board of Directors and as an employee of the Company, with duties and responsibilities that are customary for such an executive. The Executive shall work with the Chief Executive Officer and shall report to the Company's Board of Directors (the "Board"). The Executive shall also perform services for such subsidiaries of the Company as may be necessary. The Executive shall use his best efforts to perform his duties and discharge his responsibilities pursuant to this Agreement competently, carefully and faithfully. In determining whether or not the Executive has used his best efforts hereunder, the Executive's and the Company's delegation of authority and all surrounding circumstances shall be taken into account and the best efforts of the Executive shall not be judged solely on the Company's revenues or other results of the Executive's performance, except as specifically provided to the contrary by this Agreement.
 
(b) Devotion of Time. Subject to the last sentence of this Section 3(b), the Executive shall devote such time, attention and energies to the affairs of the Company and its subsidiaries and affiliates as are necessary to perform his duties and responsibilities pursuant to this Agreement. The Executive shall not enter the employ of or serve as a consultant to, or in any way perform any services with or without compensation to, any other persons, business, or organization, without the prior consent of the Board. Notwithstanding the above, the Executive shall be permitted to devote a limited amount of his time, to professional, charitable or similar organizations, including serving as a non-executive director or an advisor to a board of directors, committee of any company or organization provided that such activities do not interfere with the Executive's performance of his duties and responsibilities as provided hereunder.
 
(c) Location of Office. The Executive's principal business office shall be in Los Angeles County, California where the Company believes its business interests require an ongoing and regular physical presence by the Executive. However, the Executive's job responsibilities shall include all business travel necessary for the performance of his job including to the Company's executive offices.
 
(d) Adherence to Inside Information Policies. The Executive acknowledges that the Company is publicly-held and, as a result, has implemented inside information policies designed to preclude its executives and those of its subsidiaries from violating the federal securities laws by trading on material, non-public information or passing such information on to others in breach of any duty owed to the Company, or any third party. The Executive shall promptly execute any agreements generally distributed by the Company to its employees requiring such employees to abide by the Company's inside information policies.
 
4. Compensation and Expenses.
 
(a) Salary. For the services of the Executive to be rendered under this Agreement, the Company shall pay the Executive an annual salary of $250,000 (the "Base Salary") during the first 12 months of the Term, less such deductions as shall be required to be withheld by applicable law and regulations payable in accordance with the Company's customary payroll practices. Thereafter, on each 12th month anniversary of this Agreement, the Executive shall receive a minimum of a $25,000 increase in Base Salary.
 
	 
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(b) Stock Options. The Executive was entitled to a grant of 3,000,000 stock options under the Original Agreement but never received the grant due to the failure of the Company to adopt an Equity Incentive Plan. The Company has now adopted the 2016 Equity Incentive Plan (the "Plan") and under the Plan grants the Executive 4,000,000 five-year non-qualified stock options (the "Options"), exercisable at the closing price of the common stock on the last business day prior to the date of approval by the Board of Directors. Of the Options, 2,000,000 are vested as of the date of this Agreement and the balance shall vest in approximately equal increments monthly beginning one month from the date of this Agreement (with fractional vesting rounded up each 12 month period as appropriate), subject to continued employment with the Company on each applicable vesting date, except as vesting accelerates under Section 4(c). All Options shall be evidenced by a Stock Option Agreement entered into as of the date of this Agreement.
 
(c) Milestone Bonuses. The Executive shall receive the same milestone metrics as the Chief Executive Officer but the amounts he is eligible to receive will be 75% of the Chief Executive Officer's milestone bonuses.
 
(d) Discretionary Bonuses. During the Term of the Agreement, the Compensation Committee shall have the discretion to award the Executive a bonus, in cash or the Company's common stock, based upon the Executive's job performance, the Company's revenue growth or any other factors as determined by the Compensation Committee. To the extent that the CEO receives any discretionary bonuses for services during the Term, the Executive shall receive a discretionary bonus equal to 75% of any bonuses awarded to the CEO with identical terms and conditions.
 
(e) Expenses. In addition to any compensation received pursuant to this Section 4, the Company will reimburse or advance funds to the Executive for all reasonable documented travel (including travel expenses incurred by the Executive related to his travel to the Company's other offices), entertainment and miscellaneous expenses incurred in connection with the performance of his duties under this Agreement, provided that the Executive properly provides a written accounting of such expenses to the Company in accordance with the Company's practices. Such reimbursement or advances will be made in accordance with policies and procedures of the Company in effect from time to time relating to reimbursement of, or advances to, its executive officers. 
 
(f) Most Favored Nations Provision. It is the intent of the Company and the Executive that any compensation and benefits awarded to the CEO, as well as other provisions of the CEO's Employment Agreement or arrangement, be identical to those of the Executive, except as otherwise provided in Section 4(c) and Section 4(d). Accordingly, any more favorable provisions afforded to the CEO shall be deemed to be incorporated in this Agreement and be considered an amendment to this Agreement unless the Executive elects otherwise. 
 
5. Benefits.
 
(a) Vacation. For each 12-month period during the Term, the Executive shall be entitled to four weeks of vacation without loss of compensation or other benefits to which he is entitled under this Agreement, to be taken at such times as the Executive may select and the affairs of the Company may permit. Any unused days will be carried over to the next 12 month period. Notwithstanding anything contained herein, in no event shall the Executive be entitled to be paid cash for unused vacation, and any unused vacation days at the end of the Term or remaining as of the date of termination shall be forfeited.
 
(b) Employee Benefit Programs. The Executive is entitled to participate in any pension, 401(k), insurance or other employee benefit plan that is maintained by the Company for its executives, including programs of health insurance, life insurance and reimbursement of membership fees in professional organizations. The Company shall also pay for, or reimburse the Executive, medical insurance premiums for the Executive, his spouse and dependent children, which health insurance covers medical, dental and vision expenses.
 
	 
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6. Termination.
 
(a) Death or Disability. Except as otherwise provided in this Agreement, this Agreement shall automatically terminate upon the death or disability of the Executive. For purposes of this Section 6(a), "disability" shall mean (i) the Executive is unable to engage in his customary duties by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) the Executive is, by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company; or (iii) the Executive is determined to be totally disabled by the Social Security Administration. Any question as to the existence of a disability shall be determined by the written opinion of the Executive's regularly attending physician (or his guardian) (or the Social Security Administration, where applicable). In the event that the Executive's employment is terminated by reason of Executive's death or disability, the Company shall pay the following to the Executive or his personal representative: (i) any accrued but unpaid Base Salary for services rendered to the date of termination, (ii) any accrued but unpaid expenses required to be reimbursed under this Agreement, (iii) any earned but unpaid bonuses, and (iv) all equity awards previously granted to the Executive under the Incentive Plan or similar plan shall thereupon become fully vested, and the Executive or his legally appointed guardian, as the case may be, shall have up to three months from the date of termination (or one year from the date of death) to exercise all such previously granted options, provided that in no event shall any option be exercisable beyond its term.
 
(b) Termination by the Company for Cause or by the Executive Without Good Reason. The Company may terminate the Executive's employment pursuant to the terms of this Agreement at any time for Cause (as defined below) by giving the Executive written notice of termination. Such termination shall become effective upon the giving of such notice. Upon any such termination for Cause, or in the event the Executive terminates his employment with the Company without Good Reason (as defined in Section 6(c)), then the Executive shall have no right to compensation, or reimbursement under Section 4, or to participate in any Executive benefit programs under Section 5, except as may otherwise be provided for herein or by law, for any period subsequent to the effective date of termination. For purposes of this Agreement, "Cause" shall mean: (i) A continued failure by the Executive to perform substantially all of Executive's duties and responsibilities (other than a failure resulting from disability) that is materially injurious to the Company and that remains uncorrected for 10 days after receipt of appropriate written notice from the Board; (ii) engagement in willful, reckless or grossly negligent misconduct that is materially injurious to the Company or any of its affiliates, monetarily or otherwise; (iii) except as provided by Section 6(b)(iv) the indictment of Executive with a crime involving moral turpitude or a felony; (iv) the indictment of Executive for an act of criminal fraud, misappropriation or personal dishonesty; or (v) a material breach by Executive of any provision of this Agreement that is materially injurious to the Company and that remains uncorrected for 10 days following written notice of such breach by the Company to Executive identifying the provision of this Agreement that Company determined has been breached. For purposes of Section 6(b)(iii) and (iv), if the criminal charge is subsequently dismissed with prejudice or the Executive is acquitted at trial or on appeal then the Executive will be deemed to have been terminated without Cause. 
 
(c) Other Termination.
 
(1) This Agreement may be terminated: (i) by the Executive for Good Reason (as defined below), (ii) by the Company without Cause, (iii) automatically upon any Change of Control event as defined in Treasury Regulation Section 1.409A-3(i)(5) through (vii) at the end of a Term after the Company provides the Executive with notice of non-renewal.
 
(2) In the event this Agreement is terminated by the Executive for Good Reason or by the Company without Cause, the Executive shall be entitled to the following:
 
(A) any accrued but unpaid Base Salary for services rendered to the date of termination;
 
(B) any accrued but unpaid expenses required to be reimbursed under this Agreement;
 
	 
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(C) a payment equal to two years of the then Base Salary ("Severance Amount");
 
(D) the Executive or his legally appointed guardian, as the case may be, shall have up to two years from the date of termination to exercise all such previously granted options, provided that in no event shall any option be exercisable beyond its term;
 
(E) all equity awards previously granted to the Executive under the Incentive Plan or similar plan shall thereupon become fully vested; 
 
(F) any benefits (except perquisites) to which the Executive was entitled pursuant to Section 5(b) hereof shall continue to be paid or provided by the Company, as the case may be, for 18 months, subject to the terms of any applicable plan or insurance contract and applicable law provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5) or otherwise. In the event all or a portion of the benefits to which the Executive was entitled pursuant to Section 5(b) hereof are subject to 409A of the Code, the Executive shall not be entitled to the benefits that are subject to Section 409A of the Code subsequent to the "applicable 2 1⁄2 month period" (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A)); and
 
(G) a payment equal to the product of (i) the Target Bonus, if any, that the Executive would have earned for the fiscal year in which the termination date (as determined in accordance with Section 6) occurs based on achievement of the applicable EBITDA Thresholds and corresponding bonus levels for such year and (ii) a fraction, the numerator of which is the number of days the Executive was employed by the Company during the year of termination and the denominator of which is the number of days in such year (the "Pro-Rata Target Bonus"). This amount shall be paid on the date which is the later of: (i) April 30th of the year following the year in which the termination occurs and (ii) the six month anniversary of the termination date. 
 
(3) In the event of a Change of Control during the Term, the Executive receive each of the provisions of Section 6(c)(2)(A) – (F) above except the Executive shall receive 100% of the existing Target Bonus, for that fiscal year, when the Change of Control occurs. All payments due to the Executive shall be paid immediately on the occurrence of a Change of Control.
 
(4) In the event this Agreement is terminated at the end of a Term after the Company provides the Executive with notice of non-renewal and the Executive remains employed until the end of the Term, the Executive shall be entitled to the following:
 
(A) any accrued but unpaid Base Salary for services rendered to the date of termination;
 
(B) any accrued but unpaid expenses required to be reimbursed under this Agreement;
 
(C) a Severance Amount equal to two years of the then Base Salary; 
 
	 
	5

	

	 

 
(D) the Executive or his legally appointed guardian, as the case may be, shall have up to two years from the date of termination to exercise all such previously granted options, provided that in no event shall any option be exercisable beyond its Term;
 
(E) any benefits (except perquisites) to which the Executive was entitled pursuant to Section 5(b) hereof shall continue to be paid or provided by the Company, as the case may be, for 18 months, subject to the terms of any applicable plan or insurance contract and applicable law provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5) or otherwise. In the event all or a portion of the benefits to which the Executive was entitled pursuant to Section 5(b) hereof are subject to 409A of the Code, the Executive shall not be entitled to the benefits that are subject to Section 409A of the Code subsequent to the "applicable 2 1⁄2 month period" (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A)); and 
 
(F) the Target Bonus, if any, due to the Executive.
 
Provided, however, that the Executive shall only be entitled to receive each of the provisions of this Section 6(c)(4)(A)-(F) if the Executive is willing and able (i) to execute a new agreement providing terms and conditions substantially similar to those in this Agreement with a Base Salary equal to or greater than the then Base Salary and (ii) to continue providing such services, and therefore, the Company's non-renewal of the Term will be considered an "involuntary separation from service" within the meaning of Treasury Regulation Section 1.409A-1(n).
 
(5) In the event of a termination for Good Reason, without Cause, or non-renewal by the Company, the payment of the Severance Amount shall be paid at the same times as the Company pays compensation to its employees over the applicable monthly periods and any other payments (except the Target Bonus or the Pro-Rata Target Bonus) shall be promptly paid. Provided, however, that any balance of the Severance Amount remaining due on the "applicable 2 1⁄2 month period" (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A)) after the end of the tax year in which the Executive's employment is terminated or the Term ends shall be paid on the last day of the applicable 2 1⁄2 month period. The payment of the Severance Amount shall be conditioned on the Executive signing an Agreement and General Release (in the form which is attached as Exhibit A) which releases the Company or any of its affiliates (including its officers, directors and their affiliates) from any liability under this Agreement or related to the Executive's employment with the Company provided that (x) the payment of the Severance Amount is made on or before the 90th day following the Executive's termination of employment; (y) such Agreement and General Release is executed by the Executive, submitted to the Company, and the statutory period during which the Executive is entitled to revoke the Agreement and General Release under applicable law has expired on or before that 90th day; and (z) in the event that the 90 day period begins in one taxable year and ends in a second taxable year, then the payment of the Severance Amount shall be made in the second taxable year.
 
The term "Good Reason" shall mean: (i) a material diminution in the Executive's authority, duties or responsibilities; (ii) the Company no longer maintains or operates an office in the Los Angeles, California area; or (iii) any other action or inaction that constitutes a material breach by the Company under this Agreement including failure of the Company to pay the Executive any compensation for a period of the longer of (A) 30 days or (B) such longer period as the Company's Chief Executive Officer may have in any employment related agreement before he is entitled to special severance compensation. Prior to the Executive terminating his employment with the Company for Good Reason, the Executive must provide written notice to the Company, within 30 days following the Executive's initial awareness of the existence of such condition, that such Good Reason exists and setting forth in detail the grounds the Executive believes constitutes Good Reason. If the Company does not cure the condition(s) constituting Good Reason within 30 days following receipt of such notice, then the Executive's employment shall be deemed terminated for Good Reason.
 
	 
	6

	

	 

 
(d) Any termination made by the Company under this Agreement shall be approved by the Board.
 
(e) Upon (a) voluntary or involuntary termination of the Executive's employment or (b) the Company's request at any time during the Executive's employment, the Executive shall (i) provide or return to the Company any and all Company property, including keys, key cards, access cards, security devices, employer credit cards, network access devices, computers, cell phones, smartphones, manuals, work product, thumb drives or other removable information storage devices, and hard drives, and all Company documents and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute or contain any Confidential Information or work product, that are in the possession or control of the Executive, whether they were provided to the Executive by the Company or any of its business associates or created by the Executive in connection with his employment by the Company; and (ii) delete or destroy all copies of any such documents and materials not returned to the Company that remain in the Executive's possession or control, including those stored on any non-Company devices, networks, storage locations and media in the Executive's possession or control.
 
(f) Severance.
 
(1) In the event that Executive's employment hereunder is terminated by the Company due to non-renewal of the Agreement, such termination shall be considered a termination by the Company without Cause and this Section 6(f) shall apply.
 
(2) Except as otherwise set forth in Section 6(f)(3) below, if the Executive's employment is terminated by the Company without Cause or by the Executive for Good Reason, including by the Company without Cause or by the Executive for Good Reason within 12 months following a Change of Control, the Executive shall, subject to the provisions of this Section 6(f), be entitled to a severance payment consisting of (A) a cash amount equal to two times the current calendar year's Base Salary (the "Severance Payment"), (B) all equity awards currently held by the Executive shall vest ("Option Acceleration") and (C) prorated Milestone Bonuses for the year in which the date of the termination occurs, (the "Severance Bonus," and collectively with the Severance Payment and Option Acceleration, the "Severance Benefits"). Payment of the Severance Payment shall be made in a lump sum within 90 days following the date of termination, but in no event later than five days after the Company files its Form 10-K with the Sec for the current fiscal year (or is required to file if it is delinquent). Payment of the Severance Bonus shall be made in a lump sum at the same time the Milestone Bonuses would be paid to the Executive if the Executive has remained employed by the Company. Further if the Executive terminates his employment for Good Reason due to the failure to pay his compensation, he shall receive a Severance Payment equal to two times the number of months the Executive has bene employed under this Agreement times his monthly Base Salary. Such Severance Payment shall be due immediately.
 
(3) If the Executive's employment is terminated because of death or disability, the Executive, in the case of disability, or his estate or designated beneficiary, in the case of the Executive's death, shall be entitled to the Severance Benefits, which shall be payable set forth in Section 8(f)(2). 
 
(4) This Section 6(f) and this Agreement shall be administered and interpreted to maximize the short-term deferral exception to Code Section 409A, and the Executive shall not, directly and indirectly, designate the taxable year of a payment made under this Agreement
 
	 
	7

	

	 

 
(5) If the Executive terminates his employment without Good Reason (including non-renewal of this Agreement y Executive) or is terminate for Cause, he shall not be entitled to the Severance Payments provided for in this Agreement.
 
7. Indemnification. The Company shall indemnify the Executive, to the maximum extent permitted by applicable law, against all costs, charges and expenses incurred or sustained by his in connection with any action, suit or proceeding to which he may be made a party by reason of his being an officer, director or employee of the Company or of any subsidiary or affiliate of the Company. This indemnification shall be pursuant to an Indemnification Agreement, a copy of which is annexed as Exhibit B.
 
8. Non-Competition Agreement.
 
(a) Competition with the Company. Except as provided for in Section 2(b), until termination of his employment and for a period of two years commencing on the date of termination, the Executive (individually or in association with, or as a shareholder, director, officer, consultant, employee, partner, joint venturer, member, or otherwise, of or through any person, firm, corporation, partnership, association or other entity) shall not, directly or indirectly, act as an employee or officer (or comparable position) of, owning an interest in, or providing services substantially similar to those services the Executive provided to the Company. The failure to make the Severance Payment shall void this Section 8.
 
(b) Solicitation of Employees. During the period in which the provisions of Section 8(a) shall be in effect, the Executive agrees that he shall not, directly or indirectly, request, recommend or advise any employee of the Company to terminate his employment with the Company, for the purposes of providing services for a Prohibited Business, or solicit for employment or recommend to any third party the solicitation for employment of any individual who was employed by the Company or any of its subsidiaries and affiliates at any time during the one year period preceding the Executive's termination of employment. A "Prohibited Business" means any entity in the same or similar business as the Company. 
 
(c) Non-disparagement. The Executive agrees that, after the end of his employment, he will refrain from making, in writing or orally, any unfavorable comments about the Company, its operations, policies, or procedures that would be likely to injure the Company's reputation or business prospects; provided, however, that nothing herein shall preclude the Executive from responding truthfully to a lawful subpoena or other compulsory legal process or from providing truthful information otherwise required by law. 
 
(d) No Payment. The Executive acknowledges and agrees that no separate or additional payment will be required to be made to his in consideration of his undertakings in this Section 8, and confirms he has received adequate consideration for such undertakings.
 
(e) References. References to the Company in this Section 8 shall include the Company's subsidiaries and affiliates.
 
	 
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9. Non-Disclosure of Confidential Information.
 
(a) Confidential Information. For purposes of this Agreement, "Confidential Information" includes, but is not limited to, trade secrets, processes, policies, procedures, techniques, designs, drawings, know-how, show-how, technical information, specifications, computer software and source code, information and data relating to the development, research, testing, costs, marketing, and uses of the Company's products and/or services, the Company's budgets and strategic plans, and the identity vendors and suppliers, subjects and databases, data, and all technology relating to the Company's businesses, systems, methods of operation, and solicitation leads, marketing and advertising materials, methods and manuals and forms, all of which pertain to the activities or operations of the Company, the names, home addresses and all telephone numbers and e-mail addresses of the Company's directors, employees, officers, executives, former executives. Confidential Information also includes, without limitation, Confidential Information received from the Company's subsidiaries and affiliates. For purposes of this Agreement, the following will not constitute Confidential Information (i) information which is or subsequently becomes generally available to the public through no act or fault of the Executive, (ii) information set forth in the written records of the Executive prior to disclosure to the Executive by or on behalf of the Company which information is given to the Company in writing as of or prior to the date of this Agreement, and (iii) information which is lawfully obtained by the Executive in writing from a third party (excluding any affiliates of the Executive) who lawfully acquired the confidential information and who did not acquire such confidential information or trade secret, directly or indirectly, from the Executive or the Company or its subsidiaries or affiliates and who has not breached any duty of confidentiality.
 
(b) Legitimate Business Interests. The Executive recognizes that the Company has legitimate business interests to protect and as a consequence, the Executive agrees to the restrictions contained in this Agreement because they further the Company's legitimate business interests. These legitimate business interests include, but are not limited to (i) trade secrets; (ii) valuable confidential business, technical, and/or professional information that otherwise may not qualify as trade secrets, including, but not limited to, all Confidential Information; (iii) substantial, significant, or key relationships with specific prospective or existing vendors or suppliers; (iv) goodwill associated with the Company's business; and (v) specialized training relating to the Company's products, services, methods, operations and procedures. Notwithstanding the foregoing, nothing in this Section 9(b) shall be construed to impose restrictions greater than those imposed by other provisions of this Agreement.
 
(c) Confidentiality. During the Term of this Agreement and following termination of employment, for any reason, the Confidential Information shall be held by the Executive in the strictest confidence and shall not, without the prior express written consent of the Company, be disclosed to any person other than in connection with the Executive's employment by the Company. The Executive further acknowledges that such Confidential Information as is acquired and used by the Company or its subsidiaries or affiliates is a special, valuable and unique asset. The Executive shall exercise all due and diligent precautions to protect the integrity of the Company's Confidential Information and to keep it confidential whether it is in written form, on electronic media, oral, or otherwise. The Executive shall not copy any Confidential Information except to the extent necessary to his employment nor remove any Confidential Information or copies thereof from the Company's premises except to the extent necessary to his employment. All records, files, materials and other Confidential Information obtained by the Executive in the course of his employment with the Company are confidential and proprietary and shall remain the exclusive property of the Company. The Executive shall not, except in connection with and as required by his performance of his duties under this Agreement, for any reason use for his own benefit or the benefit of any person or entity other than the Company or disclose any such Confidential Information to any person, firm, corporation, association or other entity for any reason or purpose whatsoever without the prior express written consent of an executive officer of the Company (excluding the Executive).
 
(d) References. References to the Company in this Section 9 shall include the Company's subsidiaries and affiliates. 
 
	 
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10. Equitable Relief.
 
(a) The Company and the Executive recognize that the services to be rendered under this Agreement by the Executive are special, unique and of extraordinary character, and that in the event of the breach by the Executive of the terms and conditions of this Agreement or if the Executive, without the prior express consent of the Board, shall leave his employment for any reason and/or take any action in violation of Section 8 and/or Section 9, the Company shall be entitled to institute and prosecute proceedings in any court of competent jurisdiction referred to in Section 10(b) below, to enjoin the Executive from breaching the provisions of Section 8 and/or Section 9.
 
(b) Any action arising from or under this Agreement must be commenced only in the appropriate state or federal court located in Clark County, Nevada. The Executive and the Company irrevocably and unconditionally submit to the exclusive jurisdiction of such courts and agree to take any and all future action necessary to submit to the jurisdiction of such courts. The Executive and the Company irrevocably waive any objection that they now have or hereafter may have to the laying of venue of any suit, action or proceeding brought in any such court and further irrevocably waive any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. Final judgment against the Executive or the Company in any such suit shall be conclusive and may be enforced in other jurisdictions by suit on the judgment, a certified or true copy of which shall be conclusive evidence of the fact and the amount of any liability of the Executive or the Company therein described, or by appropriate proceedings under any applicable treaty or otherwise.
 
11. Conflicts of Interest. While employed by the Company, the Executive shall not, unless approved by the Compensation Committee, directly or indirectly:
 
(a) participate as an individual in any way in the benefits of transactions with any of the Company's suppliers, vendors, or subjects, including, without limitation, having a financial interest in the Company's suppliers, vendors, or subjects, or making loans to, or receiving loans, from, the Company's suppliers, vendors, or subjects;
 
(b) realize a personal gain or advantage from a transaction in which the Company has an interest or use information obtained in connection with the Executive's employment with the Company for the Executive's personal advantage or gain; or
 
(c) accept any offer to serve as an officer, director, partner, consultant, manager with, or to be employed in a professional, medical, technical, or managerial capacity by, a person or entity which does business with the Company.
 
	 
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12. Inventions, Ideas, Processes, and Designs. All inventions, ideas, processes, programs, software, and designs (including all improvements) directly related to the Company's business (i) conceived or made by the Executive during the course of his employment with the Company (whether or not actually conceived during regular business hours) and for a period of six months subsequent to the termination (whether by expiration of the Term or otherwise) of such employment with the Company, and (ii) related to the business of the Company, shall be disclosed in writing promptly to the Company and shall be the sole and exclusive property of the Company, and the Executive hereby assigns any such inventions to the Company. An invention, idea, process, program, software, or design (including an improvement) shall be deemed directly related to the business of the Company if (a) it was made with the Company's funds, personnel, equipment, supplies, facilities, or Confidential Information, (b) results from work performed by the Executive for the Company, or (c) pertains to the current business or demonstrably anticipated research or development work of the Company. The Executive shall cooperate with the Company and its attorneys in the preparation of patent and copyright applications for such developments and, upon request, shall promptly assign all such inventions, ideas, processes, and designs to the Company. The decision to file for patent or copyright protection or to maintain such development as a trade secret, or otherwise, shall be in the sole discretion of the Company, and the Executive shall be bound by such decision. The Executive hereby irrevocably assigns to the Company, for no additional consideration, the Executive's entire right, title and interest in and to all work product and intellectual property rights, including the right to sue, counterclaim and recover for all past, present and future infringement, misappropriation or dilution thereof, and all rights corresponding thereto throughout the world. Nothing contained in this Agreement shall be construed to reduce or limit the Company's rights, title or interest in any work product or intellectual property rights so as to be less in any respect than the Company would have had in the absence of this Agreement. If applicable, the Executive shall provide as a schedule to this Agreement, a complete list of all inventions, ideas, processes, and designs, if any, patented or unpatented, copyrighted or otherwise, or non-copyrighted, including a brief description, which he made or conceived prior to his employment with the Company and which therefore are excluded from the scope of this Agreement. References to the Company in this Section 12 shall include the Company, its subsidiaries and affiliates.
 
13. Indebtedness. If, during the course of the Executive's employment under this Agreement, the Executive becomes indebted to the Company for any reason, the Company may, if it so elects, and if permitted by applicable law, set off any sum due to the Company from the Executive and collect any remaining balance from the Executive unless the Executive has entered into a written agreement with the Company.
 
14. Assignability. The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding upon the successors and assigns of the Company, provided that such successor or assign shall acquire all or substantially all of the securities or assets and business of the Company. The Executive's obligations hereunder may not be assigned or alienated and any attempt to do so by the Executive will be void.
 
15. Severability.
 
(a) The Executive expressly agrees that the character, duration and geographical scope of the non-competition provisions set forth in this Agreement are reasonable in light of the circumstances as they exist on the date hereof. Should a decision, however, be made at a later date by a court of competent jurisdiction that the character, duration or geographical scope of such provisions is unreasonable, then it is the intention and the agreement of the Executive and the Company that this Agreement shall be construed by the court in such a manner as to impose only those restrictions on the Executive's conduct that are reasonable in the light of the circumstances and as are necessary to assure to the Company the benefits of this Agreement. If, in any judicial proceeding, a court shall refuse to enforce all of the separate covenants deemed included herein because taken together they are more extensive than necessary to assure to the Company the intended benefits of this Agreement, it is expressly understood and agreed by the parties hereto that the provisions of this Agreement that, if eliminated, would permit the remaining separate provisions to be enforced in such proceeding shall be deemed eliminated, for the purposes of such proceeding, from this Agreement.
 
	 
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(b) If any provision of this Agreement otherwise is deemed to be invalid or unenforceable or is prohibited by the laws of the state or jurisdiction where it is to be performed, this Agreement shall be considered divisible as to such provision and such provision shall be inoperative in such state or jurisdiction and shall not be part of the consideration moving from either of the parties to the other. The remaining provisions of this Agreement shall be valid and binding and of like effect as though such provisions were not included.
 
16. Notices and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing, and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar receipted delivery, or next business day delivery to the addresses detailed below (or to such other address, as either of them, by notice to the other may designate from time to time), or by e-mail delivery (in which event a copy shall immediately be sent by FedEx or similar receipted delivery), as follows:
 
	To the Company:
	Multimedia Platforms, Inc. 

		2000 E Oakland Blvd, Suites 106 & 107

		Fort Lauderdale, FL 33306

		Attention: Mr. Larry Rutstein

		Email: rutstein@comcast.net 

		
	To the Executive:
	Robert Blair 

		6260 West 3rd Street, Unit 422 

		Los Angeles, CA 90036 

		Email: bobby@bobbyblair.com 

		
	With a copy to:
	Nason, Yeager, Gerson White & Lioce, P.A. 

		3001 PGA Boulevard, Suite 305

		Palm Beach Gardens, FL 33410

		Attention: Michael D. Harris, Esq.

		Email: mharris@nasonyeager.com 

 
	 
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17. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.
 
18. Attorneys' Fees. In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation, breach or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing party shall be entitled to reasonable attorneys' fees, costs and expenses (including such fees and costs on appeal).
 
19. Governing Law. This Agreement shall be governed or interpreted according to the internal laws of the State of Nevada without regard to choice of law considerations and all claims relating to or arising out of this Agreement, or the breach thereof, whether sounding in contract, tort, or otherwise, shall also be governed by the laws of the State of Delaware without regard to choice of law considerations.
 
20. Entire Agreement. This Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against which enforcement or the change, waiver discharge or termination is sought.
 
21. Section and Paragraph Headings. The section and paragraph headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.
 
22. Section 409A Compliance.
 
(a) This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"), or an exemption thereunder. This Agreement shall be construed and administered in accordance with Section 409A. Notwithstanding any other provision of this Agreement to the contrary, payments provided under this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service (including a voluntary separation from service for good reason that is considered an involuntary separation for purposes of the separation pay exception under Treasury Regulation 1.409A-1(n)(2)) or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement upon a termination of employment shall only be made if such termination of employment constitutes a "separation from service" under Section 409A. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by the Executive on account of non-compliance with Section 409A.
 
	 
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(b) Notwithstanding any other provision of this Agreement, if at the time of the Executive's termination of employment, the Executive is a "specified employee", determined in accordance with Section 409A, any payments and benefits provided under this Agreement that constitute "nonqualified deferred compensation" subject to Section 409A (e.g., payments and benefits that do not qualify as a short-term deferral or as a separation pay exception) that are provided to the Executive on account of the Executive's separation from service shall not be paid until the first payroll date to occur following the six-month anniversary of the Executive's termination date ("Specified Employee Payment Date"). The aggregate amount of any payments that would otherwise have been made during such six-month period shall be paid in a lump sum on the Specified Employee Payment Date without interest and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule. If the Executive dies during the six-month period, any delayed payments shall be paid to the Executive's estate in a lump sum upon the Executive's death.
 
(c) To the extent required by Section 409A, each reimbursement or in-kind benefit provided under this Agreement shall be provided in accordance with the following:
 
(1) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during each calendar year cannot affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; 
 
(2) any reimbursement of an eligible expense shall be paid to the Executive on or before the last day of the calendar year following the calendar year in which the expense was incurred; and
 
(3) any right to reimbursements or in-kind benefits under this Agreement shall not be subject to liquidation or exchange for another benefit.
 
(d) In the event the Company determines that the Executive is a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) of the Code at the time of the Executive's separation from service, then to the extent any payment or benefit that the Executive becomes entitled to under this Agreement on account of the Executive's separation from service would be considered deferred compensation subject to Section 409A as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (i) six months and one day after the Executive's separation from service, or (ii) the Executive's death (the "Six Month Delay Rule").
 
(1) For purposes of this subparagraph, amounts payable under the Agreement should not provide for a deferral of compensation subject to Section 409A to the extent provided in Treasury Regulation Section 1.409A-1(b)(4) (e.g., short-term deferrals), Treasury Regulation Section 1.409A-1(b)(9) (e.g., separation pay plans, including the exception under subparagraph (iii)), and other applicable provisions of the Treasury Regulations.
 
	 
	14

	

	 

 
(2) To the extent that the Six Month Delay Rule applies to payments otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application of the Six Month Delay Rule, and the balance of the installments shall be payable in accordance with their original schedule.
  
(3) To the extent that the Six Month Delay Rule applies to the provision of benefits (including, but not limited to, life insurance and medical insurance), such benefit coverage shall nonetheless be provided to the Executive during the first six months following his separation from service (the "Six Month Period"), provided that, during such Six-Month Period, the Executive pays to the Company, on a monthly basis in advance, an amount equal to the Monthly Cost (as defined below) of such benefit coverage. The Company shall reimburse the Executive for any such payments made by the Executive in a lump sum not later than 30 days following the sixth month anniversary of the Executive's separation from service. For purposes of this subparagraph, "Monthly Cost" means the minimum dollar amount which, if paid by the Executive on a monthly basis in advance, results in the Executive not being required to recognize any federal income tax on receipt of the benefit coverage during the Six Month Period.
 
(e) The parties intend that this Agreement will be administered in accordance with Section 409A. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A. The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party.
 
(f) The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A but do not satisfy an exemption from, or the conditions of, such Section.
 
Signature Page To Follow
 
	 
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IN WITNESS WHEREOF, the Company and the Executive have executed this Agreement as of the date and year first above written.
 
		Multimedia Platforms, Inc.
	
		 	
		By:
	/s/ Robert Weiss	
		Name:
	Robert Weiss	
		Title:
	Chief Executive Officer	
				
		Executive:
	
				
			/s/ Robert Blair	
		Name: 
	Robert Blair	

 
 
16

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