Document:

AMENDMENT
      #5 to 15% PROMISSORY NOTE

     

    

     

    THIS
      AMENDMENT #5 to 15% PROMISSORY NOTE (the “Agreement”)
      is
      made and entered into
      as
      of May 30, 2007, between Digital Creative Development Corporation,
      (“DCDC”),
      with
      its principal office located at 720 Fifth Avenue, 10th
      Floor,
      New York, New York, 10019 and
      Multi-Mag Corporation (“MULTI-MAG”) located at 15 Point Road, Bellport,
      NY.

    

    RECITALS

     

    WHEREAS,
      on September 18, 2003, DCDC and International Microcomputer Software, Inc.
      (“IMSI”) entered into a 15% Promissory Note (the “Note”)
      and
      Pledge and Security Agreement pursuant to which DCDC borrowed from IMSI three
      hundred and fifty thousand dollars ($350,000) which was due and payable with
      accrued interest on September 18, 2004 and secured by a pledge of four hundred
      thousand (400,000) shares of the common stock of IMSI of which DCDC is the
      owner; and 

     

    WHERAS
      on
      September 12, 2004, DCDC and IMSI entered into Amendment #1 of the Note which
      extended the maturity date of the Note to May 31, 2005, provided for the payment
      of $25,000 of principal balance, and provided for additional collateral; and
      

     

    WHEREAS
      on January 5, 2005 MULTI-MAG purchased the Note from IMSI; and

     

    WHEREAS,
      DCDC and MULTI-MAG amended the terms of the 15% Promissory Note with Amendment
      #2 in regard to the date on which the outstanding principal and interest are
      due
      and payable; and

     

    WHEREAS,
      the Parties amended the terms of the Note in December 2005 with Amendment
      #3;

     

    WHEREAS,
      the Parties amended the terms of the Note in May 2006 with Amendment
      #4;

     

    WHEREAS,
      capitalized terms not defined herein shall have the meanings ascribed to them
      in
      the Note or Pledge and Security Agreement, as appropriate,

     

    NOW,
      THEREFORE, in consideration of the premises, the mutual covenants and agreements
      contained herein and other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

    

    Section
      1.1.  Payment
      of all Interest Currently Due

     

    DCDC
      shall pay all accrued interest due from June 1, 2006 through May 31, 2007 under
      the Note to MULTI-MAG no later than July 15, 2007. Interest is Forty Eight
      Thousand Seven Hundred Fifty and 00100 ($48,750) Dollars, and computed based
      on
      the remaining principal balance of $325,000

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section
      1.2.  Extension
      of Due Date

     

    MULTI-MAG
      shall extend the date upon which the entire principal and the remaining accrued
      interest on the Note is due from December 31, 2006 to December 31,
      2007.

     

    Section
      1.3.  No
      Other Changes.

     

    Except
      as
      set forth herein, there are no other modifications, amendments or changes to
      the
      15% Promissory Note or Pledge and Security Agreement and all such agreements
      shall continue in full force and effect, as amended herein.

    

    Section
      1.4.  Entire
      Agreement. 

     

    This
      Agreement constitutes the entire agreement among the parties hereto with respect
      to the subject matter hereof, supersedes and is in full substitution for any
      and
      all prior agreements and understandings among them relating to such subject
      matter. 

     

    Section
      1.5.  Counterparts. 

     

    For
      the
      convenience of the parties, any number of counterparts of this Agreement may
      be
      executed by any one or more parties hereto, and each such executed counterpart
      shall be, and shall be deemed to be, an original, but all of which shall
      constitute, and shall be deemed to constitute, in the aggregate but one and
      the
      same instrument.

    

    Section
      1.6.  Severability. 

     

    In
      the
      event that any one or more of the provisions contained in this Agreement or
      in
      any other instrument referred to herein, shall, for any reason, be held to
      be
      invalid, illegal or unenforceable in any respect, then to the maximum extent
      permitted by law, such invalidity, illegality or unenforceability shall not
      affect any other provision of this Agreement or any other such instrument.
      Furthermore, in lieu of any such invalid or unenforceable term or provision,
      the
      parties hereto intend that there shall be added as a part of this Agreement
      a
      provision as similar in terms to such invalid or unenforceable provision as
      may
      be possible and be valid and enforceable.

     

    

     

    [SIGNATURES
      ON FOLLOWING PAGE]

     

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, DCDC and MULTI-MAG have executed and delivered this Amendment
      as of the day and year first written above.

    

    
      	 	
              DIGITAL
                CREATIVE DEVELOPMENT CORPORATION

               

              By:__________________________________
                 

              Name:
                Gary Herman

              Title:
                President

            
	 	
               

              MULTI-MAG
                CORPORATION

              By:
                __________________________________

              Name:
                

              Title:Exhibit
      10.1

     

    September
      26, 2007 Superseding Note
      (Superseding May 11, 2007 Note)

     

    
      	US $60,000.00	 	
              September
                26, 2007/May 11,
                2007 

            

    

           

     

    FOR
      VALUE
      RECEIVED, Torbay Holdings, Inc., a Delaware corporation (the “Maker”), promises
      to pay to the order of The Nutmeg/Mercury Fund, LLLP (the “Holder”), a Minnesota
      Limited Liability Partnership having a place of business at 3346 Commercial
      Avenue, Northbrook, Illinois 60062,
      or
      such
      address as the Holder may from time to time designate in writing to the Maker,
      the principal sum of Sixty Thousand Dollars ($60,000) with interest on the
      unpaid balance as hereinafter provided. 

     

     

    RECITALS

     

     

    Whereas,
      the Parties entered into a Promissory Note on May 11, 2007 for $60,000 advanced
      by the Holder;

     

     

    Whereas,
      the Parties would like to enter into a Superseding Agreement so as to avoid
      any
      default;

     

     

    Whereas,
      the Parties would like to extend the Note to May 11, 2009. 

     

     

    Therefore,
      for good and valuable consideration, the receipt and sufficiency of which are
      hereby acknowledged, the Parties, intending to be legally bound, agree as
      follows:

     

    This
      Note
      supersedes the May 11, 2007 Note. 

     

    To
      date,
      $6,223.56 of interest has accrued on this Note.

     

    Hereafter,
      interest shall accrue at the rate of 12.5% per annum, compounded daily, and
      shall accrue and be payable as hereinafter defined. 

     

    The
      principal amount of this Note and all accrued but unpaid interest shall be
      due
      and payable on the May 11, 2009 (the “Maturity Date”). Notwithstanding the
      foregoing, the Maker may prepay up to all the principal amount of this Note
      and
      all accrued but unpaid interest at any time without incurring any penalty,
      subject to Holder’s option of Conversion. 

     

    The
      following shall constitute “Events of Default” under this Note: 

     

    
      	 	
              1.

            	
              The
                Maker fails to make the payment required by this Note within 15 days
                of
                its due date. 

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	 	
              2.

            	
              The
                Maker becomes insolvent or unable to pay its debts as they mature
                or makes
                an assignment for the benefit of creditors, or any proceeding is
                instituted by or against the Maker alleging that the Maker is insolvent
                or
                unable to pay its debts as they mature, and any such proceeding,
                if
                involuntary, is not dismissed or stayed on appeal or otherwise within
                30
                days. 

            

    

     

    Upon
      the
      occurrence of an Event of Default, the entire unpaid principal amount of this
      Note together with accrued but unpaid interest thereon, shall at once become
      due
      and payable without requiring notice by the Holder. Failure to provide notice
      shall not constitute a waiver of this right. From the date of the Event of
      Default, interest shall accrue at a rate of the lesser of 32% per annum or
      the
      maximum rate permitted by applicable law, compounded daily. 

     

    The
      Holder may, at Holder’s option and sole discretion, elect to receive payment of
      any amounts of principal, up to the total amount of the note, along with any
      accrued interest, in shares of common stock of the Maker. The “Conversion Price”
shall be equal to $0.002 per share. For purposes of the preceding sentence,
      if
      the Maker delivers shares on a date other than when shares are due or payable
      in
      accordance with the terms hereof, the Lender can treat the share delivery as
      though made upon the date of the share delivery. At any time, upon 30 days
      written notice from the Maker to Lender (the “Prepayment Notice”), the Maker may
      prepay any or all of the outstanding Note amount. In the event that Maker sends
      a Prepayment Notice to Lender, Lender may elect prior to the Prepayment Date
      to
      convert into Common Stock, pursuant hereto, all or part of the amount of
      principal to be repaid by the proposed Prepayment instead of receiving such
      monetary prepayment. 

     

    It
      is the
      intent of the parties that in no event shall the amount of interest due or
      payment in the nature of interest payable hereunder exceed the maximum rate
      of
      interest permitted by applicable law, as may be in effect from time-to-time,
      and
      in the event the amount of interest due or payable hereunder exceeds such
      maximum rate, interest shall be reduced to the maximum amount that is permitted
      by applicable law and the payment of any such excess shall be deemed to be
      a
      prepayment of principal. 

     

    This
      Note
      shall be governed and construed in accordance with the laws of the State of
      Illinois, without regard to conflict of laws principles thereof. The Maker
      hereby consents to the jurisdiction of the courts located in Cook County,
      Illinois, as the exclusive forum to resolve any disputes arising out of this
      Note. The Maker hereby waives any objection it may have to the jurisdiction
      of
      such courts or the laying of venue in such county.

     

    The
      Maker
      agrees to pay or reimburse the Holder and any other holder hereof of all costs
      and expenses of preparing, seeking advice in regard to, enforcing, and
      preserving its rights under this Note or any guarantee, document or instrument
      executed in the connection herewith (including reasonable attorneys’ fees and
      costs and reasonable time charges of attorneys who may be employees of the
      Holder, whether in or out of court, in original or appellate proceedings or
      in
      bankruptcy.) 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Except
      as
      provided in this Note, presentment, protest, notice, notice of dishonor, demand
      for payment, notice of protest and notice of non-payment are hereby waived.
      

     

    The
      failure or delay by the Holder of this Note in exercising any of his rights
      hereunder in any instance shall not constitute a waiver thereof in that or
      any
      other instance. The Holder of this Note may not waive any of its rights, except
      in an instrument in writing signed by the Holder. 

     

    This
      Note
      may not be amended except in a writing signed by the Maker. 

     

    In
      all
      other respects, any prior defaults have been waived and shall be treated by
      the
      parties as though they did not occur.

     

    

    
      	 	 	
              By:
                /s/ Richard K. Lauer 

              
                
Richard
                K. Lauer

               

              President
                and Chief Executive Officer 

            

    

    

    

     

    The
      Nutmeg/Mercury Fund, LLLP

     

    Accepted:

     

    The
      Nutmeg/Mercury Fund, LLLP

    155
      Revere Drive, Suite 10

    Northbrook
      IL 60062

    Phone:(847)
      291-7711; Fax:(847) 291-7733

     

    
      
        	 	 	
                By:
                  /s/ Randall S. Goulding

                
                  

                

                Name:
                  Randall S. Goulding

                
                  Manager

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