Document:

ex1014.htm

Exhibit 10.14

     

     

    

    14 Wall
Street, 20th Floor
New York, NY 10005

    Tel: 212
618 1645 Fax: 212 618 1644

    www.johnthomasbd.com

    

    

    May 21,
2008

    

    Sahara
Media, Inc.

    75
Franklin Ave.  2nd
Floor

    New York,
NY 10013

    Attention:
Mr. Philmore Anderson, CEO

    

    
    

    

    Dear Mr.
Anderson:

    

               
We are pleased to set forth the terms of the retention of John Thomas Financial,
Inc.. (hereinafter, “John Thomas Financial”) by Sahara Media, Inc. (the
“Company”).

    

               
1.   Nature of
Services.  
John Thomas Financial will assist the Company with its investment banking
requirements on an exclusive basis for the term set forth in Section 10 hereof
and provide investment banking services on a “best efforts’ basis that will
include, without limitation, assistance in mergers, acquisitions and internal
capital structuring, as well as the placement of new debt and/or equity issues,
all with the objective of accomplishing the Company’s business and financial
goals. In each instance, John Thomas Financial will render such services as to
which the Company and John Thomas Financial mutually agree, and John Thomas
Financial will use its best efforts to accomplish the goals agreed to by John
Thomas Financial and the Company. Anything to the contrary herein
notwithstanding John Thomas Financial shall be free to render the same or
similar services to any other entity selected by it.

     

        2.  Responsibilities
of the Company.   The
Company shall provide John Thomas Financial with all financial and business
information about the Company as requested by John Thomas Financial in a timely
manner. In addition, executive officers and directors of the Company shall make
themselves available for personal consultations with John Thomas Financial
and/or third party designees, subject to reasonable prior notice, pursuant to
the request of John Thomas Financial.  The Company represents and
warrants that the materials provided to John Thomas Financial (i) will be
prepared by the management of the Company and reviewed by its Board of
Directors; and (ii) will not knowingly contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein or previously made, in light of the
circumstances under which they were made, not misleading.  The Company
will advise John Thomas Financial immediately of the occurrence of any event or
any other change known to the Company which results in such materials containing
an untrue statement of a material fact or omitting to state a material fact
required to be stated therein or necessary to make the statements therein or
previously made, in light of the circumstances under which they were made, not
misleading.

    

    
      
        
        

      

      
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3.  Investment
Banking Fee.      In consideration of the
services set forth above, the Company shall pay John Thomas Financial an
investment banking fee of Fifty Thousand Dollars ($50,000) Dollars (the
“Investment Banking Fee”) as follows; Fifty Thousand ($50,000) Dollars from the
initial proceeds raised in the Offering (as that term is hereinafter defined).
In addition, upon the execution of this Agreement, the Company shall issue to
John Thomas Financial, as part of its Investment Banking Fee, Three Hundred
Thousand (300,000) warrants to purchase the Company’s common stock priced at
$1.10 per share.  These warrants may be exercised on a cashless basis
(the “Investment Banking Shares”) and, in addition to the Investment Banking
Fee, upon the completion of the Offering, as hereinafter defined,  issue to
John Thomas Financial, up to an additional  Seven Hundred
Thousand (700,000) warrants to purchase the Company’s common stock priced
at $1.10 per share.  These warrants may be exercised on a cashless
basis (the “Investment Banking Shares”) and pro-rated accordingly if the amounts
raised are less than the amounts stated in Section Four (4) (i). At present
capitalizations, the “Investment Banking Shares” represents a fully diluted
equity position of less than 5% interest in Sahara Media, Inc.  The Investment Banking
Shares will have “piggyback” registration rights as described
below.

     

               
4.  Placement
of Securities and Compensation. 

    

    (i)
Fee.  Upon the execution of this Agreement, John Thomas Financial and
the Company will structure offerings of the Company’s securities, on such terms
and conditions as are mutually agreed to and thereafter, John Thomas Financial
shall use its best efforts to raise the Company up to Six Million ($6,000,000)
Dollars.  It is
presently contemplated that offering will be made in one (1) tranche (the
“Financing”) as follows:  (i) Six Million
(6,000,000) shares of the Company’s common stock at One Dollar ($1.00) per share
and Six Million (6,000,000) Warrants with an exercise price at $2.00 per share
(“Investor Warrants”) and (ii) upon the mutual agreement of JTF and the Company
there may be an overallotment of One Million (1,000,000) Shares at One Dollar
($1.00) per share. These shares will also be granted piggy-back registration
rights. In
connection with the Financing, John Thomas Financial compensation shall be as
follows:

    

    
      	
              (a)  

            	
              a
      ten (10%) percent commission and a three (3%)  percent
      non-accountable expense allowance  on all funds raised in the
      Offering.

            

    

    
      	
              (b)  

            	
              Upon
      the exercise of the $2.00 (“Investor Warrants”), all or in part, John
      Thomas Financial will receive ten (10%) percent commission and a three
      (3%) percent non accountable expense
allowance.

            

    

    

    
      
        
        

      

      
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    (ii).           Fee
Tail.  John Thomas Financial shall be entitled to the fee
described above, including warrants, calculated in the manner provided herein
with respect to any subsequent public or private offering or other financing or
capital-raising transaction of any kind (“Subsequent Financing”) to the extent
that such financing or capital is provided to the Company, or to any affiliate
of the Company, by investors whom John Thomas Financial had introduced, directly
or indirectly, to the Company during the Term of this Agreement (such investors
shall be agreed upon by John Thomas Financial and the Company and listed on
Exhibit A hereto, which Exhibit A may be revised from time to time upon the
agreement of John Thomas Financial and the Company, which agreement may consist
of an exchange of electronic mail) if such Subsequent Financing is consummated
at any time within the 18-month period following the expiration or termination
of this Agreement (the “Tail Period”).

    

    (iii)           Securities
Matters.  The Company shall be responsible for any and all compliance
with the securities laws applicable to it, including Regulation D and the
Securities Act of 1933, and Rule 506 promulgated thereunder, and unless
otherwise agreed in writing, all state securities (“blue sky”) laws. John Thomas
Financial agrees to cooperate with counsel to the Company in that
regard.

    

    

    

               
5. Use of
Proceeds. It is
agreed that the proceeds received by the Company from the Financings will be
utilized as set forth in the offering document.

    

               
6. Restrictions
on Issuance of Securities.  The Company agrees
that with the exception of the shares being issued to John Thomas Financial
herewith it will not, without the written consent of John Thomas Financial issue
any capital stock, warrants, options or convertible securities except for
securities issued pursuant to employment agreements and the Company option plans
in amounts that shall be mutually agreed to by the Company and John Thomas
Financial during the period of its engagement.

    

               
7. Expenses;
FINRA Filing.
  In addition to the fees described in paragraph three (3)
above, the Company agrees to promptly reimburse John Thomas Financial upon
request from time to time, for all out-of-pocket expenses incurred, including
fees and disbursements of John Thomas Financial’s counsel, and the other
consultants and advisors retained by John Thomas Financial in connection with
John Thomas Financial acting for the Company pursuant to this Agreement of up
$50,000. All such expenses shall be with the Company’s consent and approved in
advance. It is understood that in connection with the Financings, the Company
shall be responsible for, and shall pay, all expenses directly and necessarily
incurred in connection with the proposed Financings, including, but not limited
to the costs of preparing, printing and filing, where necessary, the offering
documents and all amendments and supplements thereto, and the blue sky fees and
disbursements of blue sky counsel and all related filing fees.

    

    In conjunction with the filing of a
resale registration statement for any securities placed by John Thomas
Financial, on behalf of the Company, John Thomas Financial will file or cause to
be filed with FINRA, at the Company’s expense and via the COBRA desk filing
system, for approval of underwriting compensation under Section 2710 of the
rules and regulations of FINRA. The Company agrees to use reasonable efforts to
assist John Thomas Financial in obtaining from FINRA a standard clearance
letter, and to use reasonable efforts to assist John Thomas Financial with
filings that John Thomas Financial, as placement agent, will be required to make
upon sales under the registration statement.

    

    
      
        
        

      

      
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    8.  Mergers,
Acquisitions and Related Fees.    In the
event John Thomas Financial is successful in arranging a merger or acquisition
for the Company (a “Transaction”), John Thomas Financial shall be entitled to
receive a merger and acquisition fee equal to the “Lehman Formula” based on $1
million increments, that is, 5% of the first $1 million, 4% of the second $1
million, etc., of the consideration paid in the Transaction, or the Lehman
Formula for the equity value of the organization being acquired, at the option
of John Thomas Financial.

    

    For
purposes of this agreement, “Transaction” shall mean (a) any merger,
consolidation, reorganization, recapitalization, business combination or other
transaction pursuant to which an entity is acquired (a “Acquired Party”) or
combined with, the Company  or (b) the acquisition, directly or indirectly,
by the Company of  any of the assets of the Acquired Party whether by
way of tender or exchange offer, open market purchases, negotiated purchases or
otherwise.

    

    For
purpose of this Agreement, "Consideration" means the aggregate value, whether in
cash, securities, assumption (or purchase subject to) of debt or liabilities
(including, without limitation, indebtedness for borrowed money, pension
liabilities or guarantees) or other property, obligations or services, paid or
payable directly or indirectly (in escrow or otherwise) or otherwise assumed in
connection with a Transaction, or the net present value of the estimated
benefits to the Company of any joint venture, licensing or marketing
agreement  (“Consideration”).  The value of Consideration shall be
determined as follows:

    

    
      	
              (a)  

            	
              the
      value of securities, liabilities, obligations, property and services shall
      be the fair market value as shall mutually be agreed upon at the date of
      the closing of the Transaction;

            

    

    

    
      	
              (b)  

            	
              the
      value of indebtedness, including indebtedness assumed, shall be the face
      amount; and/or

            

    

    

    
      	
              (c)  

            	
              the
      net present value of the estimated benefits to the Company of any joint
      venture, licensing or marketing agreement, as mutually determined by the
      parties.  If the parties cannot come to such mutual determination,
      the net present value described above shall be determined by
      arbitration.

            

    

    

    If the
consideration payable in a Transaction includes contingent payments to be
calculated by reference to uncertain future occurrences, such as future
financial or business performance, then any fees of John Thomas Financial
relating to such consideration shall be payable at the time of the receipt of
such consideration.

     
         

    The
Company acknowledges that John Thomas Financial and its affiliates are in the
business of providing merger and acquisition services (of all types contemplated
by this Agreement) to others.  Nothing herein contained shall be construed
to limit or restrict John Thomas Financial or its affiliates in conducting such
business with respect to others or in rendering such advice to
others.

     

    
      
        
        

      

      
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    The
Company also acknowledges that John Thomas Financial and its affiliates have or
may have ownership interests in businesses, assets or technologies identified by
them or others to the Company as potential Transactions.  Nothing herein
contained shall be construed to limit or restrict the ability of John Thomas
Financial or its affiliates to be compensated for its ownership interest in such
a Transaction on a basis separate and apart from the compensation described
herein.

    

    In
connection with John Thomas Financial’s merger and acquisition services, the
Company agrees that if during the period John Thomas Financial is retained by
the Company or within 18 months thereafter, a Transaction is consummated with a
third party introduced by John Thomas Financial or the Company enters into a
definitive agreement with a third party introduced by John Thomas Financial
which at any time thereafter results in a Transaction (“Third Parties”), the
Company will pay John Thomas Financial a transaction fee equal to the Lehman
Formula set forth above.

    

    It is
understood that for purposes of this Agreement, John Thomas Financial shall be
deemed to have introduced such Third Parties to the Company not only by physical
introductions and meetings, but also by arranging or facilitating telephonic or
correspondence meetings between the parties, whether or not John Thomas
Financial participated in such meetings, telephone calls or
correspondence.

    

                   
9.   Additional
Agreements of the Company.  As additional
consideration for John Thomas Financial agreeing to place securities of the
Company, the Company agrees as follows:

    

    
      	
              (a)  

            	
              to
      utilize the services of John Thomas Financial for all of its benefits
      related issues, including, but not limited to, financial
      consulting,  insurance and pension related services provided
      these services are provided at competitive market rates.  The
      Company agrees to enter into a Consulting Agreement beginning at the
      closing of the offering for one year at Ten Thousand ($10,000) Dollars per
      month

            

    

    

    
      	
              (b)  

            	
              to
      open brokerage accounts, which will be supervised by the CEO and Director
      of Investment Banking of John Thomas Financial, and deposit the Board of
      Director(s), Advisors and Employees shares of Sahara Media, Inc. with John
      Thomas Financial, Inc.

            

    

    

    
      	
              (c)  

            	
              to
      utilize the services of a third-party escrow agent to handling the wiring
      of funds derived from the proposed
Offering.

            

    

    

    
      	
              (d)  

            	
              execute
      a reverse merger transaction with a Company recommended by John Thomas
      Financial simultaneously with the completion of the
      Offering.  The Company agrees to compensate John Thomas
      Financial on all industry standard fees associated with the reverse
      merger.

            

    

                           

    
      
        
        

      

      
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                    10.   Indemnification,
Contribution and Confidentiality.  The Company agrees to
indemnify John Thomas Financial and its controlling persons, representatives and
agents in accordance with the indemnification provisions set forth in Appendix
I, and the parties agree to the confidentiality provisions of Appendix II, all
of which are incorporated herein by this reference.  These provisions
will apply regardless of whether any placement is consummated.

     

    11. Term and
Termination.  The term of this
Agreement will be for a period of one (1) year from the date of this
Agreement.

    

               
This Agreement may be terminated by the Company for cause.  For the purpose
of this agreement, “cause” means the failure by John Thomas Financial to perform
in a material respect its obligations hereunder in accordance with the skill and
diligence normally provided by recognized investment banking companies; provided, however, that the
Company shall first give John Thomas Financial reasonable prior written notice
of the Company’s intent to terminate the engagement (such notice to specify in
reasonable detail the facts alleged to give rise to the Company’s right to
terminate for cause) and shall have provided  John Thomas Financial a
reasonable opportunity to cure by performing such obligations (the
reasonableness of such opportunity to be measured not only by  John Thomas
Financial’ ability to perform during such period but also by the adverse effect
on the Company resulting from providing such additional period to enable 
John Thomas Financial to perform).  Neither termination of the Agreement
nor completion of this assignment contemplated hereby shall affect the
provisions of paragraphs 3 through 9 which shall remain operative and in full
force and effect.

    

    During
the term of this Agreement (the “No-Shop Period”), the Company agrees that
without the prior written approval of John Thomas Financial, it will not, and
will not permit any of its shareholders, members, officers, employees,
directors, agents or representatives to, directly or indirectly, solicit,
encourage, initiate, enter into, continue or participate in any negotiations or
discussions with, or provide any information to, any third party concerning any
public or private offering or other financing or capital-raising transaction of
any kind, , a merger with a public company, or an initial public offering of
securities.

     

    12.  Third
Party Agreements.  John Thomas Financial has the right, in its sole
discretion, to sub-contract any of its rights to provide services hereunder to
qualified third parties in its sole discretion, so long as John Thomas Financial
remains the prime contractor of such services to the Company.  John Thomas
Financial has the right to enter into any finder, inter dealer or syndication
agreements with qualified parties with respect to placing and arranging the
Financings.

     

    
      
        
        

      

      
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            13. 
Advertisements.  The Company
agrees, at John Thomas Financial’s request, to place advertisements in financial
and other newspapers and journals describing the Company’s Financings and John
Thomas Financial’s  related services to the Company hereunder (a
“Tombstone”). The Company shall be responsible for and agrees to pay the cost of
any such Tombstone(s).

    

    14.  Complete
Agreement.  
This Agreement contains the entire Agreement between the parties with
respect to the contents hereof and supersedes all prior agreements and
understandings between the parties with respect to such matters, whether written
or oral. Neither this agreement, nor any term or provision hereof may be
changed, waived, discharged or amended in any manner other than by any
instrument in writing, signed by the party against which the enforcement of the
change, waiver, discharge or amendment is sought.

    

    15.  Severability.   The invalidity
or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provisions of this Agreement, which
shall remain in full force and effect.

    

    16.  Amendments.     
This Agreement may not be amended or modified except in writing signed by each
of the parties

    

    17.  Jurisdiction/Venue/Choice
of Law.  This Agreement shall be governed and construed in
accordance with the laws of the State of New York applicable to agreements made
and to be performed within such State.  Any disputes, controversies or
claims (“Disputes”) arising out of or relating to this Agreement, or the breach
thereof, shall be referred to a sole arbitrator selected in accordance with the
rules of the American Arbitration Association (“AAA”) sitting in New York and
enforcement of and/or challenges to any determination made by such arbitrators
shall be determined in accordance with the laws of the State of New York any
award issued by the AAA shall be final and binding, and judgment upon the award
rendered may be entered in any court having jurisdiction. Nether party may seek
punitive damages and any and all requests for supporting documentations or
depositions may only be granted upon the determination of the
arbitrator.  Such arbitration shall be the exclusive method of
resolving Disputes.  Without limiting the generality the foregoing,
the parties expressly waive resort to any judicial or other mechanism for the
enforcement of any rights and remedies under this Agreement, except to the
extent that judicial relief may be sought solely to compel a party to this
Agreement to abide by the exclusive means of dispute resolution set forth
herein. Notwithstanding, the parties agree that to the extent
that  actions or inactions by  either  party may
expose either party to irreparable harm, that either party  shall be
allowed to protect its  rights through application to appropriate
State and/or Federal courts for Temporary Restraining Orders pending arbitration
resolution.  Each party shall be liable for their own costs and
expenses related to the arbitration, including attorneys’ fees.

    

    
      
        
        

      

      
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    18. Miscellaneous. 

    

                           
(a) The benefits of this agreement shall insure to the respective successors and
assigns of the parties hereto and to the indemnified parties hereunder and their
successors and assigns and representatives, and the obligations and liabilities
assumed in this agreement by the parties hereto shall be binding upon their
respective successors and assigns.

    

                           
(b) For the convenience of the parties hereto, any number of counterparts of
this agreement may be executed by the parties hereto. Each such counterpart
shall be, and shall be deemed to be, an original instrument, but all such
counterparts taken together shall constitute one and the same
agreement.

    

    
      	
              (e)  

            	
              Neither
      the execution and delivery of this letter Agreement by the Company nor the
      consum­mation of the transactions contemplated hereby will, directly
      or indirectly, with or without the giving of notice or lapse of time, or
      both:  (i) violate any provisions of the Certi­ficate of
      Incorporation or By-laws of the Company; or (ii) violate, or be in
      conflict with, or constitute a default under, any agreement, lease,
      mortgage, debt or obligation of the Company or require the payment, any
      pre-payment or other penalty with respect thereto. If the foregoing
      correctly sets forth the understanding and agreement of John Thomas
      Financial and the Company, please so indicate in the space provided for
      that purpose below, whereupon this letter shall constitute a binding
      agreement as of the date hereof.

            

    

     

    Confirmed
and Agreed to:

    This 21th
day of May, 2008

    

    
      
        	 	 	 
	 	 	 	 
	
                 

              	
                 

              	Very
      truly yours,	 
	 	 	 	 
	 	 	Francis
      V. Lorenzo	 
	 	 	Director
      of Investment Banking	 
	 	 	John
      Thomas Financial, Inc. 	 

      

    

    
 

    
      
        
          	 	 	 	 
	 	 	Philmore
      Anderson, CEO	 
	 	 	Sahara
      Media, Inc.	 
	 	 	75
      Franklin Ave.	 
	 	 	New
      York, NY 10013	 

        

      

      

        
          
             

          

          
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    APPENDIX
I

    

    

    INDEMNIFICATION
AND CONTRIBUTION

    

               The
Company agrees to indemnify and hold harmless John Thomas Financial and its
affiliates (as defined in Rule 405 under the Securities Act of 1933, as amended)
and their respective directors, officers, employees, agents and controlling
persons (John Thomas Financial and each such person being an “Indemnified
Party”) from and against all losses, claims, damages and liabilities (or
actions, including shareholder actions, in respect thereof), joint or several,
to which such Indemnified Party may become subject under any applicable federal
or state law, or otherwise, which are related to or result from the performance
by John Thomas Financial of the services contemplated by or the engagement of
John Thomas Financial pursuant to, this Agreement and will promptly reimburse
any Indemnified Party for all reasonable expenses (including reasonable counsel
fees and expenses) as they are incurred in connection with the investigation of,
preparation for or defense arising from any threatened or pending claim, whether
or not such Indemnified Party is a party and whether or not such claim, action
or proceeding is initiated or brought by the Company.  The Company
will not be liable to any Indemnified Party under the foregoing indemnification
and reimbursement provisions, (i) for any settlement by an Indemnified Party
effected without its prior written consent (not to be unreasonably withheld); or
(ii) to the extent that any loss, claim, damage or liability is found in a
final, non-appealable judgment by a court of competent jurisdiction to have
resulted primarily from John Thomas Financial’s willful misconduct or gross
negligence.  The Company also agrees that no Indemnified Party shall
have any liability (whether direct or indirect, in contract or tort or
otherwise) to the Company or its security holders or creditors related to or
arising out of the engagement of John Thomas Financial pursuant to, or the
performance by John Thomas Financial of the services contemplated by, this
Agreement except to the extent that any loss, claim, damage or liability is
found in a final, non-appealable judgment by a court of competent jurisdiction
to have resulted primarily from John Thomas Financial’s willful misconduct or
gross negligence.

    

               Promptly
after receipt by an Indemnified Party of notice of any intention or threat to
commence an action, suit or proceeding or notice of the commencement of any
action, suit or proceeding, such Indemnified Party will, if a claim in respect
thereof is to be made against the Company pursuant hereto, promptly notify the
Company in writing of the same.  In case any such action is brought
against any Indemnified Party and such Indemnified Party notifies the Company of
the commencement thereof, the Company may elect to assume the defense thereof,
with counsel reasonably satisfactory to such Indemnified Party, and an
Indemnified Party may employ counsel to participate in the defense of any such
action provided, that the employment of such counsel shall be at the Indemnified
Party’s own expense, unless (i) the employment of such counsel has been
authorized in writing by the Company, (ii) the Indemnified Party has reasonably
concluded (based upon advice of counsel to the Indemnified Party) that there may
be legal defenses available to it or other Indemnified Parties that are
different from or in addition to those available to the Company, or that a
conflict or potential conflict exists (based upon advice of counsel to the
Indemnified Party) between the Indemnified Party and the Company that makes it
impossible or inadvisable for counsel to the Indemnifying Party to conduct the
defense of both the Company and the Indemnified Party (in which case the Company
will not have the right to direct the defense of such action on behalf of the
Indemnified Party), or (iii) the Company has not in fact employed counsel
reasonably satisfactory to the Indemnified Party to assume the defense of such
action within a reasonable time after receiving notice of the action, suit or
proceeding, in each of which cases the reasonable fees, disbursements and other
charges of such counsel will be at the expense of the Company; provided,
further, that in no event shall the Company be required to pay fees and expenses
for more than one firm of attorneys representing Indemnified Parties unless the
defense of one Indemnified Party is unique or separate from that of another
Indemnified Party subject to the same claim or action.  Any failure or
delay by an Indemnified Party to give the notice referred to in this paragraph
shall not affect such Indemnified Party’s right to be indemnified hereunder,
except to the extent that such failure or delay causes actual harm to the
Company, or prejudices its ability to defend such action, suit or proceeding on
behalf of such Indemnified Party.

    

               If
the indemnification provided for in this Agreement is for any reason held
unenforceable by an Indemnified Party, the Company agrees to contribute to the
losses, claims, damages and liabilities for which such indemnification is held
unenforceable (i) in such proportion as is appropriate to reflect the relative
benefits to the Company, on the one hand, and John Thomas Financial on the other
hand, of the Offering as contemplated whether or not the Offering  is
consummated or, (ii) if (but only if) the allocation provided for in clause (i)
is for any reason unenforceable, in such proportion as is appropriate to reflect
not only the relative benefits referred to in clause (i) but also the relative
fault of the Company, on the one hand and John Thomas Financial, on the other
hand, as well as any other relevant equitable considerations.  The
Company agrees that for the purposes of this paragraph the relative benefits to
the Company and John Thomas Financial of the Offering as contemplated shall be
deemed to be in the same proportion that the total value received or
contemplated to be received by the Company or its shareholders, as the case may
be, as a result of or in connection with the Offering bear to the fees paid or
to be paid to John Thomas Financial under this
Agreement.  Notwithstanding the foregoing, the Company expressly
agrees that John Thomas Financial shall not be required to contribute any amount
in excess of the amount by which fees paid John Thomas Financial hereunder
(excluding reimbursable expenses), exceeds the amount of any damages which John
Thomas Financial has otherwise been required to pay.

    

               The
Company agrees that without John Thomas Financial’s prior written consent, which
shall not be unreasonably withheld, it will not settle, compromise or consent to
the entry of any judgment in any pending or threatened claim, action or
proceeding in respect of which indemnification could be sought under the
indemnification provisions of this Agreement (in which John Thomas Financial or
any other Indemnified Party is an actual or potential party to such claim,
action or proceeding), unless such settlement, compromise or consent includes an
unconditional release of each Indemnified Party from all liability arising out
of such claim, action or proceeding.

    

               In
the event that an Indemnified Party is requested or required to appear as a
witness in any action brought by or on behalf of or against the Company in which
such Indemnified Party is not named as a defendant, the Company agrees to
promptly reimburse John Thomas Financial on a monthly basis for all expenses
incurred by it in connection with such Indemnified Party’s appearing and
preparing to appear as such a witness, including, without limitation, the
reasonable fees and disbursements of its legal counsel.

    

    If
multiple claims are brought with respect to at least one of which
indemnification is permitted under applicable law and provided for under this
Agreement, The Company agrees that any judgment or arbitrate award shall be
conclusively deemed to be based on claims as to which indemnification is
permitted and provided for, except to the extent the judgment or arbitrate award
expressly states that it, or any portion thereof, is based solely on a claim as
to which indemnification is not available.

    

    
      
         

      

      
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    APPENDIX
II

    

    

    INFORMATION
TO BE SUPPLIED; CONFIDENTIALITY.

    

               In
connection with John Thomas Financial’s activities on behalf of the Company, the
Company will furnish John Thomas Financial with all financial and other
information regarding the Company that John Thomas Financial reasonably believes
appropriate to its assignment (all such information so furnished by the Company,
whether furnished before or after the date of this Agreement, being referred to
herein as the “Information”).  The Company will provide John Thomas
Financial with access to the officers, directors, employees, independent
accountants, legal counsel and other advisors and consultants of the
Company.  The Company recognizes and agrees that John Thomas Financial
(i) will use and rely primarily on the Information and information available
from generally recognized public sources in performing the services contemplated
by this Agreement without independently verifying the Information or such other
information, (ii) does not assume responsibility for the accuracy of the
Information or such other information, and (iii) will not make an appraisal of
any assets or liabilities owned or controlled by the Company or its market
competitors.

    

               John
Thomas Financial will maintain the confidentiality of the Information and,
unless and until such information shall have been made publicly available by the
Company or by others without breach of a confidentiality agreement, shall
disclose the Information only as authorized by the Company or as required by law
or by order of a governmental authority or court of competent
jurisdiction.  In the event that John Thomas Financial is legally
required to make disclosure of any of the Information, John Thomas Financial
will give notice to the Company prior to such disclosure, to the extent that
John Thomas Financial can practically do so.

    

    
      	
               
      

            	
              The
      foregoing paragraph shall not apply to information
  that:

            

    

    

    
      	
               
      

            	
              at
      the time of disclosure by the Company is, or thereafter becomes, generally
      available to the public or within the industries in which the Company or
      John Thomas Financial or its affiliates conduct business, other than as a
      direct result of a breach by John Thomas Financial of its obligations
      under this Agreement;

            

    

    

    
      	
               
      

            	
              prior
      to or at the time of disclosure by the Company, was already in the
      possession of, or conceived by, John Thomas Financial or any of its
      affiliates, or could have been developed by them from information then in
      their possession, by the application of other information or techniques in
      their possession, generally available to the public, or available to John
      Thomas Financial or its affiliates other than from the
      Company;

            

    

    

    
      	
               
      

            	
              at
      the time of disclosure by the Company or thereafter, is obtained by John
      Thomas Financial or any of its affiliates from a third party who John
      Thomas Financial reasonably believes to be in possession of the
      information not in violation of any contractual, legal or fiduciary
      obligation to the Company with respect to that information;
    or

            

    

    

    
      	
               
      

            	
              is
      independently developed by John Thomas Financial or its
      affiliates.

            

    

    

               Nothing
in this Agreement shall be construed to limit the ability of John Thomas
Financial or its affiliates to pursue, investigate, analyze, invest in, or
engage in investment banking, financial advisory or any other business
relationship with entities other than the Company, notwithstanding that such
entities may be engaged in a business which is similar to or competitive with
the business of the Company, and notwithstanding that such entities may have
actual or potential operations, products, services, plans, ideas, customers or
supplies similar or identical to the Company’s, or may have been identified by
the Company as potential merger or acquisition targets or potential candidates
for some other business combination, cooperation or relationship. The Company
expressly acknowledges and agrees that it does not claim any proprietary
interest in the identity of any other entity in its industry or otherwise, and
that the identity of any such entity is not confidential
information.

    

    
 

     

     

    10ex1015.htm

Exhibit 10.15

     

     

    

    14 Wall
Street, 20th Floor
New York, NY 10005

    Tel: 212
618 1645 Fax: 212 618 1644

    www.johnthomasbd.com

    

    

    

    August 1,
2008

    

    

    Sahara
Media, Inc.

    75
Franklin Ave. 2nd
Floor

    New York,
New York 10013

    Attention:  Mr.
Philmore Anderson, CEO

    

    Dear Mr.
Anderson:

    

    Reference is made to the letter
agreement between John Thomas Financial, Inc. (“John Thomas Financial”) and
Sahara Media, Inc. (the “Company”), dated May 21, 2008 (the “Original
Agreement”).  This letter memorializes certain amendments that the
Company and John Thomas Financial want to make to the Original
Agreement.   All capitalized terms not defined herein shall have
the same meanings as in the Original Agreement.

    

    
      	
              1.  

            	
              Amendments.

            

    

    

    
      	
              1.1  

            	
              Section
      3 of the Original Agreement (Securities and Compensation) shall be amended
      and restated as follows:

            

    

    

    “3. 
Investment Banking
Fee.      In
consideration of the services set forth above,
within 120 days of the date hereof, the Company shall, upon the completion of
the Offering, as hereinafter defined,  issue to John Thomas Financial, a
warrant to purchase an additional  One Million  (1,000,000)
shares of the Company’s common stock at $1.3 0 per share.  These
warrants may be exercised on a cashless basis. Subject to the applicable rules
and regulations and interpretations of the Securities and Exchange Commission,
including, without limitation, Rule 415 under the Securities Act of 1933, the
shares of common stock issuable upon exercise of the aforementioned warrants
will also be granted piggy-back registration rights until and unless such shares
may be sold pursuant to Rule 144 under the Securities Act of
1933.   Upon the completion of a private placement of the
securities of the Company commencing in August 2008, pursuant to which at least
$8,000,000 in gross proceeds is raised for the Company though the direct efforts
of John Thomas Financial, John Thomas Tomas Financial shall receive Four Hundred
Thousand Dollars ($400,000) from the proceeds of the private
placement.”

    
 

    1.2 .   Section 4 of the
Original Agreement is amended and restated as follows:

    

    

     “4. 
Placement of
Securities and Compensation. 

    

    (i)
Fee.  Upon the execution of this Agreement, John Thomas Financial and
the Company will structure offerings of the Company’s securities, on such terms
and conditions as are mutually agreed to and thereafter, John Thomas Financial
shall use its best efforts to raise the Company gross proceeds of up to
Ten  Million Dollars ($10,000,000 ).  It is presently
contemplated that offering will be made in one (1) tranche (the “Financing” or
“Offering”) as follows:      up
to 80 Units of the Company’s securities, at $125,000 per Unit, each Unit
consisting of 100,000 shares of the Company’s common stock and a warrant to
purchase 100,000 shares of the Company’s common stock at $2.50 per share
(“Investor Warrants”). In connection with the Financing, John Thomas Financial
compensation shall be as follows:

     

    
      	 	(a)	a
      ten (10%) percent commission and a three (3%)  percent
      non-accountable expense allowance  on all funds raised in the
      Offering.
	 	(b)	Upon
      the exercise of the Investor Warrants, all or in part, John Thomas
      Financial will receive ten (10%) percent commission of the gross proceeds
      received by the Company
      from the exercise of the Warrants and three percent
      (3%),  of the gross proceeds received by the Company from the
      exercise of the Warrants, non accountable expense
    allowance.
	
            	
              (c)

            	
                John
      Thomas Financial will also be issued one share of Common Stock for every
      four Investor Warrants that are exercised within 12 months of the date on
      which the registration statement registering the resale of the Common
      Stock issuable upon the exercise of such Investor Warrants has been
      declared effective by the Securities and Exchange
      Commission.  Subject to the applicable rules and regulations and
      interpretations of the Securities and Exchange Commission, including,
      without limitation, Rule 415 under the Securities Act of 1933, the shares
      issued pursuant to this Subsection  will also be granted
      piggy-back registration rights until and unless such shares may be sold
      pursuant to Rule 144 under the Securities Act of
  1933.

            

    

     

     

    (ii).           Fee
Tail.  John Thomas Financial shall be entitled to the fee
described above, including warrants, calculated in the manner provided herein
with respect to any subsequent public or private offering or other financing or
capital-raising transaction of any kind (“Subsequent Financing”) to the extent
that such financing or capital is provided to the Company, or to any affiliate
of the Company, by investors whom John Thomas Financial had introduced, directly
or indirectly, to the Company during the Term of this Agreement (such investors
shall be agreed upon by John Thomas Financial and the Company and listed on
Exhibit A hereto, which Exhibit A may be revised from time to time upon the
agreement of John Thomas Financial and the Company, which agreement may consist
of an exchange of electronic mail) if such Subsequent Financing is consummated
at any time within the 18-month period following the expiration or termination
of this Agreement (the “Tail Period”).

    

    (iii)           Securities
Matters.  The Company shall be responsible for any and all compliance
with the securities laws applicable to it, including Regulation D and the
Securities Act of 1933, and Rule 506 promulgated thereunder, and unless
otherwise agreed in writing, all state securities (“blue sky”) laws. John Thomas
Financial agrees to cooperate with counsel to the Company in that
regard.”

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

    

    
      	
              2.  

            	
              Prior
      Agreements.   This Amendment shall completely and
      fully supersede all other and prior agreements and correspondence (both
      written and oral) by and between the Company and John Thomas Financial
      with respect to the subject matter of this Amendment.  Except as
      expressly amended hereby, the Original Agreement shall remain in full
      force and effect.

            

    

    

    
      	
              3.  

            	
              No
      Implied Waivers. Except as expressly set forth herein, nothing
      herein shall constitute an express or implied waiver of any provision of
      the Original Agreement, and in all other respects the Original Agreement
      is specifically ratified, restated and confirmed by all parties hereto as
      of the effective date hereof.

            

    

    

    
      	
              4.  

            	
              Counterparts.  This
      Amendment may be executed in any number of counterparts, with the same
      effect as if all the signatures on such counterparts appeared on one
      document.  Each such counterpart shall be deemed to be an
      original, but all such counterparts together shall constitute one and the
      same instrument.

            

    

    

    
      	
              5.  

            	
              Amendments.  This
      Amendment may not be amended, waived, modified, supplemented or terminated
      in any manner whatsoever except by a written instrument signed by the
      Company and John Thomas Financial.

            

    

    

    
      	
              6.  

            	
              Binding
      on Successors.  This Amendment shall be binding upon and
      inure to the benefit of the parties hereto and their respective successors
      and permitted.

            

    

    

    
      	
              7.  

            	
              Invalidity.  Any
      provision of this Amendment that may be determined by a court of competent
      jurisdiction to be prohibited or unenforceable in any jurisdiction shall,
      as to such jurisdiction, be ineffective to the extent of such prohibition
      or unenforceability without invalidating the remaining provisions hereof,
      and any such prohibition or unenforceability in any jurisdiction shall not
      invalidate or render unenforceable such provision in any other
      jurisdiction.

            

    

    

            Each
party hereto hereby acknowledges and agrees to the terms set forth in this
letter agreement, as evidenced by such party's execution or acknowledgement of
this letter agreement below.

     

    
      
        	 	Very
      truly yours,	 
	 	 	 
	 	John Thomas Financial, Inc.	 
	 	 	 
	 	 	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Frank
      Lorenzo	 
	 	 	Frank
      V. Lorenzo	 
	 	 	Director
      of Investment Banking	 
	 	 	 	 

      

Confirmed
and Agreed to:

    This
5th
day of August, 2008

     

    
      
        	 	SAHARA
      MEDIA, INC	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Philmore
      Anderson IV	 
	 	 	 	 
	 	 	Chief
      Executive Officer   	 
	 	 	 	 

      

    

    2

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