Document:

SECURED PROMISSORY NOTE

 

	$100,000.00	January 21, 2014

Irvine, California

 

FOR VALUE RECEIVED,
Qayed Shareef ("Maker") promises to pay to Adaptive Medias, Inc., a Nevada corporation ("Holder"),
or order, at 16795 Von Karman Avenue, Irvine, California, 92606 or at such other place as Holder may designate from time to time
in writing, the maximum principal sum of One Hundred Thousand Dollars ($100,000.00). The advance of the principal under this Secured
Promissory Note (the "Note") shall bear interest from the date of such advance until the date paid in full at
a rate of five percent (5%) per annum, non-compounded. The principal of and interest on this Note shall be payable at the time
and in the manner described in Section 2, below.

 

1.           PAYMENT
OF PRINCIPAL AND INTEREST. Subject
to acceleration pursuant to Section 3,
below:

 

1.1           Quarterly
Payments. Commencing ninety (90) days from the date hereof, One Thousand Two Hundred Fifty Dollars ($1,250) on
the Note shall be due and payable, and subsequently payable on the twenty-first day of each third calendar month thereafter prior
to the maturity of this Note.

 

1.2           Principal.
Maker shall pay the entire unpaid principal of, and all accrued and unpaid interest on, this Note on January 21, 2019.

 

1.3           Prepayment.
Maker may prepay all or any part of the principal then outstanding at any time, without penalty or premium, by providing Holder
with written notice of its intention to do so not less than five (5) days prior to delivering such payment.

 

2.           Security.
This Note is secured by all of the stock that Maker holds in the Holder
as of the date hereof pursuant to the terms of that certain Stock Pledge Agreement executed concurrently herewith.

 

3.           DEFAULT

 

3.1           Events
of Default. At the election of Holder, the entire principal balance of, and all accrued and unpaid interest on,
this Note shall become immediately due and payable upon the occurrence of one or more of the following events of default:

 

(a)           Failure
to Pay. Maker defaults in the payment of any amount due under this Note or in the performance of any other obligation
imposed upon Maker in this Note or the Loan Agreement;

 

(b)           Failure
to Perform. Maker defaults in the performance any obligation imposed upon Maker in this Note or the Loan Agreement,
and such default is not cured within ten (10) days following delivery of written notice of default to Maker;

 

(c)           Breach
of Representation or Warranty of Maker. Maker breaches any representation or warranty made by Maker in the Pledge
or any certificate delivered by Maker (or any officer of Maker) pursuant to the Pledge, and such default is not cured within ten
(10) days following delivery of written notice of default to Maker;

 

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(d)           Insolvency.
Maker makes an assignment for the benefit of any one or more of its creditors; or

 

(e)           Bankruptcy.
There is commenced with respect to Maker a bankruptcy proceeding under the Bankruptcy Code, as amended from time to time, and such
proceeding is not dismissed within thirty (30).

 

3.2           Holder's
Election. Holder's failure to exercise the election described in Section 3.1 above, with respect to any
event of default shall not constitute a waiver of the right to exercise such election upon the occurrence of any subsequent default.

 

4.           LATE
PAYMENT CHARGE. Maker acknowledges and agrees that late payment to Holder
will cause Holder to incur costs not contemplated by the loan evidenced by this Note, and that the exact amount of such costs are
difficult and impracticable to assess. Therefore, Maker agrees that if all or any part of the amount due under this Note is not
paid when due, then Maker shall pay Holder, on or before the fifteenth (15th) day after the due date for such payment, a late payment
charge equal to one and one-half percent (1.5%) of any such amount not paid within ten (10) days of the due date thereof, and that
such amount shall be deemed to be the damages for the loss suffered by such delinquency in payment. By accepting this Note without
prejudicing any other rights or remedies of Holder hereunder, Holder agrees to accept such amount as liquidated damages on account
of any such delinquent payment.

 

5.           GENERAL
PROVISIONS

 

5.1           Medium.
All sums due hereunder shall be paid in lawful money of the United States of America.

 

5.2           Interest
Calculation. Interest shall be computed on the basis of a 360-day year.

 

5.3           Crediting
Payments. All payments made hereunder shall be credited first against unpaid late charges; the balance of each
such payment next shall be credited against accrued and previously unpaid interest; and the balance of each such payment shall
be credited against principal, and interest thereafter shall not accrue on the amount so credited to principal.

 

5.4           Gender;
Number. In this Note, the singular shall include the plural, and each gender shall include the other.

 

5.5           Waiver.
Maker, for itself and its legal representatives, successors, and assigns, expressly waives demand, notice of nonpayment, presentment
for demand, presentment for the purpose of accelerating maturity, dishonor, notice of dishonor, protest, notice of protest, notice
of maturity, and diligence in collection.

 

5.6           Governing
Law. This Note shall be construed in accordance with the laws of the State of California. Maker hereby consents
to the jurisdiction of the courts of the State of California with respect to any matter relating to the enforcement of any rights
created by or evidenced in this Note.

 

5.7           Captions.
The section and subsection headings in this Note are included for purposes of convenience and reference only and shall not affect
in any way the meaning or interpretation of this Note.

 

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5.8           Collection
Costs. Maker agrees to pay all of Holder's court costs and attorneys' fees if counsel is engaged to assist in
the collection of amounts due under this Note after a default hereunder or if any action is commenced to construe or enforce the
terms of this Note.

 

 

 

[Signature appears
on the following page.]

 

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IN WITNESS WHEREOF,
the undersigned Maker has executed this Note on the date set forth below.

 

 

 

	January 21, 2014	 	/s/
    Qayed Shareef	 
	Date	 	     Qayed Shareef	 

 

 

 

 

    	4STOCK PLEDGE AGREEMENT

 

THIS STOCK PLEDGE
AGREEMENT (this "Pledge") is made and entered into this 21st day of January, 2014, by and between
Qayed Shareef ("Pledgor") and Adaptive Medias, Inc., a Nevada corproation ("Pledgee").

RECITALS:

 

A. Pledgor
is the Chief Exeutive Officer of the Company and a member of its Board of Directors.

 

B. Pledgor
currently owns 18,628,900 shares of Pledgee’s Common Stock (the “Stock”), and is its largest single stockholder.

 

C. This
Pledge is made to secure the performance of the Pledgor (as borrower) pursuant to a Secured Promissory Note (the “Note”)
of even date herewith.

 

D. The
transactions contemplated by the Note and this Pledge have been approved by the sole disiniterested member of Pledgee’s Board
of Directors and has been deemed fair and in the best interests of Pledgee and its stockholders.

 

NOW,
THEREFORE, for and in consideration of the matters recited above, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Pledgor agrees as follows:

 

1.           Security
Interest. Pledgor hereby pledges and grants to Pledgee a security interest in and a lien on the Stock, and all
cash, securities and property paid, and/or distributed to or for the benefit of Pledgor as a consequence of Pledgor's ownership
of the Stock, or any portion thereof (collectively, the "Collateral"). The parties agree that financing
statements (Forms UCC1) may be filed in Nevada.

 

2.           Obligations
Secured. The Collateral and the continuing security interest granted herein shall secure all amounts payable
under the Note.

 

3.           Delivery.
All original certificates and instruments representing or evidencing the Collateral, or any portion thereof, shall be delivered
to and held by or on behalf of Pledgee pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accomplished
by duly executed instruments of transfer or assignments in blank.

 

4.           Covenants.
Pledgor covenants and agrees that until the amounts due and owing under the Note have been paid in full, Pledgor shall:

 

(a)           Sale
of Collateral. Not sell, transfer, assign, or otherwise dispose of the Collateral, or any portion thereof, without
the prior written consent of Pledgee.

 

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(b)           Creation
of Liens. Not voluntarily create, incur, or permit to exist any mortgage, pledge, encumbrance, lien, security
interest, or charge of any kind on the Collateral, or any portion thereof, except as contemplated hereby.

 

(c)           Additional
Documents and Future Actions. Pledgor will take such actions and provide Pledgee, from time to time, with such
agreements, financing statements and additional instruments, documents or information as Pledgee may reasonably deem necessary
or advisable to perfect, protect, and maintain its security interests in the Collateral or any portion thereof, to permit Pledgee
to protect its interest in the Collateral or any portion thereof, or to carry out the terms hereof. Pledgor irrevocably authorizes
the filing of carbon, photographic, or other copy of this Agreement, or of a financing statement, as a financing statement.

 

(d)           Requested
Information. Upon a Default as defined below, with reasonable promptness, deliver to Pledgee all such other data
and information in respect of the financial condition and affairs of Pledgor and the value of the Collateral, as Pledgee may reasonably
request from time to time.

 

5.           Default.
The occurrence of an Event of Default as defined under the Note shall constitute a Default hereunder.

 

6.           Rights
of Pledgor and Pledgee.

 

(a)           Before
a Default. Prior to the occurrence of an Event of Default:

 

(1)            Voting.
Pledgor shall be entitled to exercise any and all voting and other consensual rights arising under the Collateral, or any
portion thereof, for any purpose not inconsistent with the terms hereto.

 

(2)           Dividends.
Pledgor shall be entitled to receive and retain, free and clear of any security interest in favor of Pledgee, any and all dividends
with respect to the Collateral, or any portion thereof.

 

(b)           After
a Default. Upon the occurrence and during the continuance of an Event of Default:

 

(1)           Voting.
Pledgee shall have the right to (i) exercise voting and other consensual rights which Pledgor would otherwise be entitled to exercise
and (ii) receive distributions which Pledgor would otherwise be authorized to receive and retain.

 

(2)           Sale
of Collateral. Pledgee may exercise in respect of the Collateral all the rights and remedies of a secured party upon
default under the Uniform Commercial Code of the State of California.

 

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7.           Reasonable
Care. Pledgee shall exercise reasonable care in the custody and preservation of the Collateral in its possession.

 

8.           Return
of Collateral. Upon the satisfaction by the Pledgor of all its Obligations under the Note and this Agreement,
the security interest given in the Collateral shall be terminated. Within ten (10) days thereof, the Pledgee shall deliver the
Collateral to Pledgor.

 

9.           Miscellaneous.

 

(a)            Communications
and Notices. Any notice, demand or request required or permitted to be made pursuant to, under or by virtue
of this Agreement shall be delivered in accordance with the terms of the Note.

 

(b)           Severability. The
provisions of this Pledge are deemed to be severable, and the invalidity or unenforceability of any provision shall not
affect or impair the remaining provisions which shall continue in full force and effect.

 

(c)           Headings.
The headings of the Articles, Sections, paragraphs and clauses of this Pledge are inserted for convenience only and shall not
be deemed to constitute a part of this Pledge.

 

(d)           Binding
Effect. This Pledge and all rights and powers granted hereby will bind and inure to the benefit of the parties
hereto and their respective heirs, executors, personal representatives and permitted successors and assigns, as applicable.

 

(e)           Amendment.
No modification of this Pledge shall be binding or enforceable unless in writing and signed by or on behalf of the party against
whom enforcement is sought.

 

(f)           Governing
Law. This Pledge has been made, executed and delivered in the State of California and shall be construed in accordance
with and governed by the laws of such State.

 

(g)           No
Third-Party Beneficiaries. The rights and benefits of this Pledge shall not inure to the benefit of any third
party.

 

(h)           Counterparts.
This Pledge may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument,
and any of the parties hereto may execute this Pledge by signing any such counterpart.

 

 

[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, Pledgor has executed
this Pledge as of the day and year first above written.

 

 

	 	PLEDGOR:
	 	 	 
	 	 	 
	 	 	 
	Date: January 21, 2014	By:	/s/ Qayed Shareef  	 
	 	 	Qayed Shareef
	 	 	 
	 	 	 
	 	 	 
	 	PLEDGEE:
	 	 	 
	 	ADAPTIVE MEDIAS, INC.
	 	 	 
	 	 	 
	 	 	 
	Date: January 21, 2014	By:	/s/ Abdul Parmach	 
	 	 	Abdul Parmach, Principal Accounting Officer

 

 

 

 

 

 

 

 

 

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