Document:

Exhibit
10.1

     

    AGREEMENT
FOR THE PURCHASE OF COMMON STOCK

    

    THIS
COMMON STOCK PURCHASE AGREEMENT, (this “Agreement”) made this __ day of June,
2010, by and between Majic Wheels Corp., (“Company”) a Nevada
Corporation, (“Company”), and those entities
set forth on Schedule A annexed hereto, (collectively, the “Purchaser”) setting forth the
terms and conditions upon which the Company will sell an aggregate of 54,000,000
shares of MJWL common stock (the “Shares”) to the
Purchaser.

     

    In
consideration of the mutual promises, covenants, and representations contained
herein, the parties hereto agree as follows:

    

    WITNESSETH:

    

    WHEREAS, the Company currently has issued and
outstanding a total of 96,000,000 shares of Common Stock;

    

    WHEREAS, the Board of Directors of the Company has
approved the sale of the Shares and the terms of this
Agreement;

     

    WHEREAS,
Company desires to sell, assign and transfer to Purchaser, and Purchaser desires
to purchase and acquire from Company the Shares, subject to the conditions and
obligations hereinafter stated;

    

    WHEREAS,
the Company and Purchaser have appointed Michael Krome, Esq. to act as the
Escrow Agent (“Escrow
Agent”) for this transaction.

    

    NOW
THEREFORE, in consideration of the mutual promises, covenants and
representations contained herein, the parties herewith agree as
follows:

    

    ARTICLE
I

    SALE
OF SECURITIES

    

    1.01       Subject
to the terms and conditions of this Agreement, the Company agrees to sell the
Shares for a total cash consideration of One Hundred Eighteen Thousand Dollars
(U.S.) ($118,000.00) (the “Purchase Price”).

    

    1.02       It
is agreed that the Closing will take place on or before June 30, 2010 (“Closing”), unless an extension of time is agreed to in
writing by both parties.

    

    ARTICLE
II

    REPRESENTATIONS
AND WARRANTIES

    

    The
Company hereby represents and warrants to the Purchasers the
following:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    2.01       Organization;
The Company is a Nevada corporation duly organized, validly existing, and in
good standing under the laws of that state, and
it has all necessary corporate
powers to own properties and carry on a business.  The Company is not
in violation of any of the provisions of its certificate or articles of
incorporation, bylaws or other organizational or charter
documents.  The Company is duly qualified to conduct its business and
is in good standing as a foreign corporation or other entity in each
jurisdiction in which the nature of the business conducted or property owned by
it makes such qualification necessary, except where the failure to be so
qualified or in good standing, as the case may be, could not, individually or in
the aggregate, have or reasonably be expected to result in a Material Adverse
Effect.  For purposes of this Agreement, “Material Adverse Effect”
means a material adverse effect on the
financial condition, results of operations or business of the Company before the consummation of the
transactions contemplated in this
Agreement.

     

    2.02       Capital.   The
authorized capital stock of Company consists of 150,000,000 shares of Common
Stock, $0.0001 par value.  There are
94,000,000 shares of Common Stock
issued and outstanding, and all such shares of
Common Stock were duly authorized and validly issued and are fully paid and non-assessable, and have not
been issued in violation of the preemptive rights of any other person to any
shares of common stock of the Company. There are no shares of Preferred Stock
issued and outstanding, and no shares of Preferred Stock of the Company were
ever issued and outstanding.  At the Closing there will be no
outstanding subscriptions, options, rights, warrants, convertible securities, or
other agreements or commitments obligating the Company to issue or to transfer
from treasury any shares of its capital stock.  None of the
outstanding shares of Company common stock are subject to any stock restriction
agreements.  There are approximately 32 shareholders of record and over 40 shareholders in “street name” of the
Company. No person is entitled to preemptive or similar rights, and no person
has any right of first refusal, preemptive right, right of participation, or any
similar right to participate in the transactions contemplated by this Agreement.
The Company has no knowledge of any unresolved claim by any person to additional
shares of capital stock (or other securities) of the Company.

     

    2.03       Financial
Statements.   The Company is a reporting company under the SEC rules and regulations, which filings can be found on the SEC web site. The Company has filed all periodic reports required to be filed by it
under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof,
since the effective date of its Form SB-2
registration statement of August 28, 2007 (the foregoing filed materials
and the Form 10-Q for the quarter ended
March 31, 2010, being collectively referred to herein as the “SEC Reports”) on a
timely basis or has timely filed a valid extension of such time of filing and
has filed any such SEC Reports prior to the expiration of any such
extension.  The SEC Reports complied in all material respects with the
requirements of the Exchange Act and the rules and regulations of the Commission
promulgated thereunder, and none of the SEC Reports, when filed, contained any
untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary in order to make the statements therein, in
light of the circumstances under which they were made, not
misleading.  The financial statements of the Company included in the
SEC Reports (“Financial Statements”) comply in all material respects with
applicable accounting requirements and the rules and regulations of the
Commission with respect thereto as in effect at the time of
filing.  Such financial statements have been prepared in accordance
with GAAP applied on a consistent basis during the periods involved, except as
may be otherwise specified in such financial statements or the notes thereto,
and fairly present in all material respects the financial position of the
Company as of and for the dates thereof and the results of operations and cash
flows for the periods then ended, subject, in the case of unaudited statements,
to normal, immaterial, year-end audit adjustments.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2.04   
  Filings with Government Agencies.  After the Closing, the
Purchaser shall file the appropriate filings, if so required, disclosing the
acquisition of the Shares by the Purchaser. The Company has made all
required corporate filings with the state
of Nevada required to be filed before the date
hereof and will file all such required filings due before the
Closing.  Upon the purchase of the Shares by the Purchaser, the
Purchaser will have the full responsibility for filing for itself and on behalf of the Company any and
all documents required by the SEC, OTCBB, FINRA,
State of Nevada and/or any other government agency that may be
required, including any change of control on
Schedule 14f. The Company is not required to obtain any consent, waiver,
authorization or order of, give any notice to, or make any filing or
registration with, any United States or other federal, state, local or other
governmental authority or other person in connection with the execution,
delivery and performance by the Company, other than the filing of a current report on Form 8-K
by the Company and the filing by the Company of a change of control on Schedule
14f, to report the transaction contemplated
by and/or effected by this Agreement.

     

    2.05       No
Liabilities.  Except for the specified
liabilities on Schedule 2.05 (which may be amended at the Closing to reflect any
ordinary course liabilities arising after the date hereof, but shall not be
greater than Five Hundred ($500) Dollars), the Company shall not have any
liabilities or other monetary obligations
at Closing of any nature, whether accrued, absolute, contingent, or otherwise
that will not be paid or otherwise fully
discharged at Closing.  Except as specified
on Schedule 2.05 (which may be amended at the Closing to reflect any ordinary
course liabilities arising after the date hereof), the Company has no liability or obligation whatsoever,
either direct or indirect, matured or un-matured, accrued, absolute, contingent
or otherwise, and the Company is not aware of any basis for any such liability
or obligation, including, without limitation, third party guaranties by the
Company or liabilities (collectively, “Undisclosed Liabilities”). The
Company is not aware of any pending, or to the
best knowledge of Company, threatened or asserted claims, lawsuits or
contingencies involving the Company or the
Shares.  The Company and its officers and directors agrees to
indemnify the Purchaser against any liabilities pertaining to the conduct of business of the Company that arose at any time prior to
the Closing.

    

    2.06       Tax
Returns.  As of the Closing, there shall be no taxes of any kind due
or owing.

    

    (a)           The Company has duly filed all federal, state,
local and foreign tax returns required to be filed by or with respect to them
with the Internal Revenue Service or other applicable taxing authority, and no
extensions with respect to such tax returns have been requested or
granted;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    (b)           The
Company has paid, all material taxes due, or claimed by any taxing authority to
be due, from or with respect to them (if any);

    

    (c)           There
has been no issue raised in writing or
adjustment proposed in writing (and none is
pending) by the Internal Revenue Service or any other taxing authority in
connection with any of the Company’s tax returns;

    

    (d)           No
waiver or extension of any statute of limitations as to any material federal,
state, local or foreign tax matter has been given by or requested from the
Company.

    

     2.07     Ability
to Carry Out Obligations.  The Company has the right, power, and
authority to enter into, and perform its
obligations under this Agreement.  The execution and delivery of this Agreement by
the Company and the performance by the Company of its obligations hereunder will
not cause, constitute, or conflict with or result in (a) any breach or violation
or any of the provisions of or constitute a default under any license,
indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or
other agreement or instrument to which Company or
the Company is a party, or by which the
Company may be bound, nor will any consents or authorizations of any
party other than those otherwise set forth in this
Agreement be required, (b) an event that would cause Company (and/or
assigns) to be liable to any party, (c) the creation or imposition of any lien,
charge, or encumbrance on any asset of the Company or upon the Shares to be
acquired by the Purchaser, or (d) result in
a violation of any law, rule, regulation, order, judgment, injunction, decree or
other restriction of any United States or governmental authority to which the
Company is subject (including federal and state securities laws and
regulations), or by which any property or asset of the Company is bound or
affected

    

    2.08       Contracts,
Leases and Assets.  The Company
is not a party to any contract, agreement or lease.  At Closing there
will be no operative powers of attorney or other authority granted by the
Company or, with respect to the Shares, by the Company.

    

    2.09       Compliance
with Securities Laws.  To the
best the knowledge of the Company, Company has complied with all federal and
state securities laws in connection with the offer, sale and distribution of its
securities.  The Company is in
compliance with all effective requirements of the Sarbanes-Oxley Act of 2002, as
amended, and the rules and regulations thereunder that are applicable to
it.  The Shares being sold herein are being sold in a private
transaction between the Company and the Purchaser.

     

    2.10       Litigation.  The
Company is not a party to any suit, action, arbitration, or legal,
administrative, or other proceeding, or any
pending governmental investigation. To the best knowledge of Company, there is
no basis for any such action or proceeding, and to
the best knowledge of Company, there no such action or proceeding is
threatened against the Company.  The Company is not a party to or in default with
respect to any order, writ, injunction, or decree of any federal, state, local,
or foreign court, department, agency, or instrumentality. The Company is not,
nor is any director or officer of the Company, subject to any action involving a claim of violation of or
liability under federal or state securities laws or a claim of breach of
fiduciary duty.  There has not been and
there are no pending investigations
by any regulatory body involving the Company or any of its respective current or
former directors or officers (in his or her capacity as such).  The SEC has
not issued any stop order or other order suspending the effectiveness of
any registration statement filed by the Company under the Exchange Act or the
Securities Act.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    2.11       Conduct
of Business.    Prior to the Closing, the Company shall
conduct its business in the normal course, and shall not (without the prior
written approval of Purchaser) (i) sell, pledge, or assign any assets, (ii)
amend its Certificate of Incorporation or Bylaws, (iii) declare dividends,
redeem or sell stock or other securities, (iv) incur any liabilities, except in
the normal course of business, (v) acquire or dispose of any assets, enter into
any contract, guarantee obligations of any third party, or (vi) enter into any
other transaction.

    

    2.12       Corporate
Documents.  Copies of each of the
following documents will be delivered to the
Purchaser within 48 hours after the execution of this Agreement, and when
delivered, will be true, complete and correct in all material
respects:

     

    (i)   
  Board consent approving all actions of the Company;

    

    (ii)   
 Certificate of Good Standing from the Secretary of State of
Nevada;

     

    (iii)   
Full response to due diligence questionnaire supplied by Purchaser.

    

    2.13       Title.   The Shares will be
free of liens, encumbrances, options, restrictions and legal or equitable rights
of others not a party to this Agreement,
except for restrictions on transfer imposed by federal and state securities
laws (“Liens”).  None of the Shares are or will be
subject to any voting trust or agreement.  No person holds or has the
right to receive any proxy or similar instrument with respect to the Shares.

     

    2.14      Assets.  To the best knowledge of the Company, the Company is not a “shell company” as such term is
defined by Rule 405 as promulgated under the Securities Act and Rule 12b-2 as
promulgated under the Exchange Act.

    

    2.15       Transfer
Agent.  The Company’s current transfer agent of record is Island Stock
Transfer (“Transfer Agent”).    Except for outstanding
liabilities set forth on Schedule 2.05, the Company is not involved in
any dispute with the Transfer Agent with respect to the Transfer Agent’s
services, including but not limited to amounts owed for services. The Company
has no knowledge of any disagreement between the Company and the Transfer Agent
with respect to the number of shares outstanding or record ownership of shares
of the Company’s capital stock.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    2.16       Subsidiaries.  The
Company does not have any direct or indirect subsidiaries.

     

    2.17       Press
Releases.  The press releases disseminated by the Company since inception, either separately or taken as a
whole, do not contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made and
when made, not misleading.  The Company and its securities has not
been the subject of any “spam” e-mail or fax campaign, conducted by its present
or former officers, directors, agents, representatives or any other person, to
promote an investment in the Company’s securities, and the Company has not
directly or indirectly sponsored, authorized or otherwise permitted any such
activity.

     

    2.18       Material
Changes.  Except as specifically disclosed in the SEC Reports, or on Schedule 2.05, since March 31, 2010 (i)
there has been no event, occurrence or development that has had or that could
reasonably be expected to result in a Material Adverse Effect, (ii) the Company
has not incurred any liabilities (contingent or otherwise) other than (A) trade
payables, accrued expenses and other liabilities incurred in the ordinary course
of business consistent with past practice and (B) liabilities not required to be
reflected in the Company’s financial statements pursuant to GAAP or required to
be disclosed in filings made with the Commission, (iii) the Company has not
altered its method of accounting or the identity of its past or present
auditors, (iv) the Company has not declared or made any dividend or distribution
of cash or other property to its shareholders or purchased, redeemed or made any
agreements to purchase or redeem any shares of its capital stock, and (v) the
Company has not issued any equity securities,
including to any officer, director or Affiliate.  The Company
does not have pending before the SEC any request for confidential treatment of
information.  The Company will provide full documentation and
disclosure of all changes to the Purchaser and their representatives prior to
the Closing.  For purposes of this Agreement, “Affiliate” means any
person that, directly or indirectly through one or more intermediaries, controls
or is controlled by or is under common control with a person, as such terms are
used in and construed under Rule 144.

     

    2.19       Labor
Relations.  No material labor dispute has existed prior to the date of
this Agreement, with respect to any of the past employees of the
Company.  The Company does not have any outstanding employment or
labor contracts, agreements, arrangements or other understandings with any
person.

     

    2.20       Compliance with Agreements and Laws (other than
Securities Laws).  The Company is not a party to any indenture,
debt, capital lease obligation, mortgage, loan or credit agreement by which it
or any of its properties is bound.  To
the best knowledge of the Company, the Company is not (i) in default
under or in violation of (and no event has occurred that has not been waived
that, with notice or lapse of time or both, would result in a default), nor has
the Company received written notice of a
claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a
party or by which it or any of its properties is bound (whether or not such
default or violation has been waived), (ii) in violation of any order of any
court, arbitrator or governmental body, or (iii) in violation (at any prior
time) of any statute, rule or regulation of any governmental authority,
including without limitation all foreign, federal, state and local laws relating
to taxes, environmental protection, occupational health and safety, product
quality and safety and employment and labor matters, except in each case as
could not, individually or in the aggregate, have or reasonably be expected to
result in a Material Adverse Effect.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2.21       Regulatory
Permits.  The Company possesses all certificates, authorizations and
permits issued by the appropriate federal, state, local or foreign regulatory
authorities necessary to conduct its businesses as described in the SEC Reports,
except where the failure to possess such permits could not, individually or in
the aggregate, have or reasonably be expected to result in a Material Adverse
Effect, and the Company has not received any written notice of proceedings relating to the
revocation or modification of any such permits.

     

    2.22       Title to
Assets.  The Company does not own any interest in real property, and
the Company is not a party to any real property lease.

     

    2.23     
 Transactions With Affiliates and Employees; Customers.  Except
as set forth in the SEC Reports, none of the officers or directors of the
Company, and to the best knowledge of the
Company, none of the employees of the
Company, is presently a party to any transaction with the Company, including any
contract, agreement or other arrangement providing for the furnishing of
services to or by, providing for rental of real or personal property to or from,
or otherwise requiring payments to or from any officer, director or such
employee or, to the knowledge of the Company, any entity in which any officer,
director, or any such employee has a substantial interest or is an officer,
director, trustee or partner.  The Company does not owe any money or
other compensation to any of the respective officers or directors or
shareholders of the Company.

     

    2.24       Internal
Accounting Controls.  The Company maintains a system of internal
accounting controls sufficient to provide reasonable assurance that (i)
transactions are executed in accordance with management’s general or specific
authorizations, (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with GAAP and to maintain
asset accountability, (iii) access to assets is permitted only in accordance
with management’s general or specific authorization, and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any
differences.  The Company has established disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for itself
and designed such disclosure controls and procedures to ensure that material
information relating to the Company is made known to the certifying officers by
others within those entities, particularly during the period in which the
Company’s Form 10-K or 10-Q, as the case may be, is being
prepared.  The Company’s certifying officers have evaluated the
effectiveness of the Company’s controls and procedures in accordance with Item
307 of Regulation S-K under the Exchange Act for the Company’s most recently
ended fiscal quarter or fiscal year-end (such date, the “Evaluation
Date”).  The Company presented in its most recently filed Form 10-K or
Form 10-Q the conclusions of the certifying officers about the effectiveness of
the disclosure controls and procedures based on their evaluations as of the
Evaluation Date.  Since the Evaluation Date, there have been no
significant changes in the Company’s internal controls (as such term is defined
in Item 308(c) of Regulation S-K under the Exchange Act) or, to the Company’s
knowledge, in other factors that could significantly affect any of the Company’s
internal controls.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    2.25       Certain
Registration Matters.  The Company has not granted or agreed to grant
to any person any rights (including “piggy-back” registration rights) to have
any securities of the Company registered with the SEC or any other governmental
authority.

     

    2.26       Listing
and Maintenance Requirements.  The Company’s common stock is currently
traded on the OTC Bulletin Board under the
stock symbol “CVSL.OB.”  Except as specified in the SEC Reports, the
Company has not received written notice
from any regulatory body to the effect that the Company is not in compliance
with the listing or maintenance requirements thereof. The sale of the Shares
does not contravene the rules and regulations of the OTC Bulletin Board, and no approval of the
shareholders of the Company thereunder is required for the Company to deliver
the Stock to the Purchaser under this Agreement. The Common Stock of the Company
is DTC eligible, and it is not DWAC eligible.

     

    2.27       Investment
Company.  The Company is not an “investment company” within the
meaning of the Investment Company Act of 1940, as amended.

     

    2.29      Application
of Takeover Protections.  The Company is not bound by any provision
which places any form of restriction on control share acquisition, business
combination, any “poison pill” provisions (including any distribution under a
rights agreement) or any other anti-takeover provision under the Company’s
Articles of Incorporation or Bylaws (or similar instruments) or the laws of its
state of incorporation that is or could become applicable to the Company, the
Purchaser or the Company as a result of the parties fulfilling their obligations
or exercising their rights under this Agreement.

     

    2.30       Money
Laundering Laws. The operations of the Company are and have been conducted at
all times in compliance with the money laundering statutes of applicable
jurisdictions, the rules and regulations thereunder and any related or similar
rules, regulations or guidelines, issued, administered or enforced by any
applicable governmental agency (collectively, the “Money Laundering Laws”) and
no action, suit or proceeding by or before any court or governmental agency,
authority or body or any arbitrator involving the Company with respect to the
Money Laundering Laws is pending or, to the best knowledge of the Company,
threatened.

    

    2.31       Other Agreements.  Other than as set forth in
the SEC Reports, on a schedule hereto or otherwise set forth in this Agreement,
the Company is not a party to or bound by or affected by any contract,
lease, arrangement or commitment (whether oral or written) relating to: (a) the
employment of any person; (b) collective bargaining with, or any representation
of any employees by, any labor union or association; (c) the acquisition of
services, supplies, equipment or other personal property; (d) the purchase or
sale of real property; (e) distribution, agency or construction; (f) lease of
real or personal property as lessor or lessee or sublessor or sublessee; (g)
lending or advancing of funds; (h) borrowing of funds or receipt of credit; (i)
incurring any obligation or liability; or (j) the sale of personal
property.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    2.33       No
SEC or FINRA Inquiries.  Other than SEC review comments with respect
to filed reports and registration statements, under the Securities Act and
Exchange Act, there have been no formal or informal inquiry or investigation of
the Company or its officers or directors by the SEC or FINRA.

    

    2.34   
   Disclosure.  The representations and warranties and
statements of fact made by the Company in this Agreement are, as applicable,
accurate, correct and complete and do not contain any untrue statement of a
material fact or omit to state any material fact necessary in order to make the
statements and information contained herein not false or
misleading.  All representations shall be true as of the Closing and
all such representations shall survive the Closing.

    

    2.35       Patents
and Trademarks.  The Company has, or has rights to use, all patents,
patent applications, trademarks, trademark applications, service marks, trade
names, trade secrets, inventions, copyrights, licenses and other intellectual
property rights and similar rights as described in the SEC Reports as necessary
or material for use in connection with their business and which the failure to
so have could have a Material Adverse Effect (collectively, the “Intellectual Property
Rights”).  The Company has not received a notice (written or
otherwise) that any of the Intellectual Property Rights used by the Company
violates or infringes upon the rights of any Person.  To the Knowledge
of the Company, all such Intellectual Property Rights are enforceable and there
is no existing infringement by another Person of any of the Intellectual
Property Rights.  The Company has taken reasonable security measures
to protect the secrecy, confidentiality and value of all of their intellectual
properties, except where failure to do so could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse
Effect.

    

    ARTICLE
III

    CLOSING

    

    3.01       Closing
for the Purchase of Common Stock.  The Closing of this transaction for
the Shares being purchased will be
consummated when all of the documents and consideration described in
Paragraphs 2.12 above and in 3.02 below, have been delivered, or other
arrangements made and agreed to.  If the Closing of this transaction has not taken place on or before the close of business on June 8, 2010, then
either party may terminate this Agreement by
written notice to the other.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    Prior to June 8, 2010, the Company shall have made available to the
Purchaser for inspection all corporate books, records and assets, and shall have
otherwise afforded reasonable access to all documentation and other information
concerning the business, financial and legal conditions of the Company for the
purpose of conducting a due diligence investigation.  Such due
diligence investigation shall be for the purpose of satisfying the Purchaser as
to the business, financial and legal condition of the Company for purposes of
determining and confirming the desirability of consummating the proposed
transaction.

    

    Prior to
the Closing, this Agreement can be terminated in the event of any material
breach by either party.

    

    3.02       Documents
and Payments to be Delivered at Closing of the Common Stock
Purchase.  As part of the Closing of the Share purchase, those
documents listed in 2.12 of this Agreement, as well as the following documents,
in form reasonably acceptable to counsel to the parties, shall be delivered, if not previously delivered:

    

     
(a)         By the
Company:

    

               (i)          original
stock certificates representing the Shares in the name of the Purchaser,
as set forth in Schdule A;

    

               (ii)         a
certified copy of a resolution of the directors of the Company dated as of the
date of Closing appointing a new President, Secretary and Treasurer of the
Company as designated by Purchaser, and the resignation of all officers of
Company.

     

    (iii)      
a
certified copy of a resolution of the directors of the Company dated as of the
date of Closing appointing the designee(s) of the Purchaser to the board of
directors of the Company effective as of ten days after the delivery to the
shareholders of the Company of an Information Statement pursuant to Rule
14f, which will be the sole responsibility of the
Purchaser and shall not be filed with the SEC or distributed to the shareholders
before the Closing and the resignation of all its current
directors;

     

    (iv)       originals
of all of the business and corporate records of the Company, including but not
limited to correspondence files, bank statements, checkbooks, savings account
books, minutes of shareholder and directors meetings or consents, financial
statements, shareholder listings, stock transfer records, agreements and
contracts that exist;

     

    (v)       a
release agreement duly executed by each
current officer and director of the Company, which shall release all
claims of any nature, including any outstanding remuneration or fees of any
kind, in a form acceptable to the Purchaser and made effective upon
Closing;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (vi)     
the
legal opinion of Company counsel, opining as to the due authorization and validity of the issuance of the Shares and the due authorization of this
Agreement by the Company, subject to typical caveats found in counsel’s
opinions;

     

    (vii)      Certificate
of Good Standing from the State of Nevada, evidencing that the Company is in
good standing with the State of Nevada, as provided in Section
2.12;

     

    (viii)    Assignment, Release and discharge agreement of the
obligation, or the payment out of the proceeds hereof, of those debts, set forth
on Schedule 2.5 hereto;

     

    (ix)       Such
other documents of Company as may be reasonably required by Purchaser, if
available.

    

    

    ARTICLE
IV

    
      
        	
                INVESTMENT
      INTENT

              

      

    

    

    4.01       Transfer
Restrictions. Purchaser agrees that the securities being acquired pursuant
to this Agreement may be sold, pledged, assigned, hypothecated or otherwise
transferred, with or without consideration (“Transfer”) only pursuant to an
effective registration statement under the Securities Act of 1933, as amended
(the “Act”), or pursuant to an exemption from registration under the
Act.

    

    4.02     
 Investment Intent.  The Purchaser
is acquiring the Shares for its own
account for investment, and not with a view toward distribution
thereof.

    

    4.03      
No Advertisement.   The Purchaser acknowledges that the Shares
have been offered to it in direct
communication between Purchaser and
Company, and not through any advertisement of any kind.

    

    4.04     
 Knowledge and Experience.   (a) The Purchaser acknowledges
that it has sought and had its own legal
and financial counsel to assist it in
evaluating this purchase. The Purchaser acknowledges that it has sufficient business and financial
experience, so that it can make a reasoned
decision as to this purchase of the Shares and is capable of evaluating the
merits and risks of this purchase.

    

    4.05     
 Restrictions on Transferability.  
(a) The Purchaser is aware of the restrictions of transferability of the
Shares and further understands the certificates shall bear the following
legend.

    

    THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), IN RELIANCE UPON THE
EXEMPTION FROM REGISTRATION PROVIDED IN SECTIONS 4(1) AND 4(2) AND REGULATION D
UNDER THE ACT. AS SUCH, THE PURCHASE OF THIS SECURITY WAS MADE WITH THE INTENT
OF INVESTMENT AND NOT WITH A VIEW FOR DISTRIBUTION. THEREFORE, ANY SUBSEQUENT
TRANSFER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE UNLAWFUL UNLESS IT IS
REGISTERED UNDER THE ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS
AVAILABLE.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    (b) The
Purchaser understands that the Shares may only be disposed of pursuant to either
(i) an effective registration statement under the Act, or (ii) an exemption from
the registration requirements of the Act.

    

    (c) The
Company has neither filed such a registration statement with the SEC or any
state authorities nor agreed to do so, nor contemplates doing so in the future
for the shares being purchased, and in the absence of such a registration
statement or exemption, the Purchasers may have to hold the Shares indefinitely
and may be unable to liquidate them in case of an emergency.

    

    ARTICLE
V

    REMEDIES

    

    5.01   
  Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York applicable to agreements made
and to be performed entirely within such State.  The parties agree to
be subject to the exclusive jurisdiction and venue of the state and federal
courts located in Nassau County, New York.

    

    5.02       Termination.  In
addition to any other remedies, the Purchaser may terminate this Agreement, if
at the Closing, the Company have failed to comply with all material terms of
this Agreement or has failed to supply any
documents required by this Agreement unless they do not exist, or has failed to
disclose any material facts which could have a substantial effect on any part of
this transaction. 

    

    5.03       Survival of
Representations.  The representations, warranties and
covenants shall survive the Closing
for a period of 18
months.

    

    5.04       Indemnification.  From
and after the Closing, the Parties, jointly and severally, agree to indemnify
the other against all actual losses, damages and expenses caused by (i) any
material breach of this Agreement by them or any material misrepresentation
contained herein, or (ii) any misstatement of a material fact or omission to
state a material fact required to be stated herein or necessary to make the
statements herein not misleading.  Any
claim for indemnification shall be made before the first of the 18th month after
the Closing, and only if the claims aggregate $5,000 or more, in which event the
full amount of any loss, damage and expense may be
recovered.  Recovery for any legal fees and expenses shall be limited
only to reasonable fees and expenses.  

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    5.05       Indemnification
Non-Exclusive.  The foregoing indemnification provision is in addition
to, and not derogation of any statutory, equitable or common law remedy any
party may have for breach of representation, warranty, covenant or
agreement.

    

    ARTICLE
VI

    COVENANTS

    

    6.01       Corporate
Examinations and Investigations.  Until the Closing, the Purchaser
shall be entitled, through its employees and representatives, to make such
investigations and examinations of the books, records and financial condition of
the Company and the Company as each party may request.  In order that
the Purchaser may have the full opportunity to do so, the Company and the
Company shall furnish the Purchaser and its representatives with all such
information concerning the affairs of the Company or the Company as the
Purchaser or its representatives may reasonably request.  The Company and its officers,
employees, consultants, agents, accountants and attorneys shall cooperate fully with the Purchaser’s
representatives in connection with such review and examination and to make full
disclosure of all information and documents requested by each party and/or its
representatives.

     

    6.02     
 Cooperation; Consents.  Prior to the Closing, except as stated in this Agreement, each party
shall cooperate with the other parties to the end that the parties shall (i) in
a timely manner make all necessary filings with, and conduct negotiations with,
all authorities and other persons the consent or approval of which, or the
license or permit from which is required for the consummation of the
transactions contemplated by this Agreement and (ii) provide to each other party
such information as the other party may reasonably request in order to enable it
to prepare such filings and to conduct such negotiations.

     

    6.03       Litigation;
SEC Correspondence.    From the date hereof through the
Closing, the Company and the Company shall promptly notify the Purchaser of any
lawsuits, claims, proceedings or investigations which after the date hereof are
threatened or commenced against such party or any of its affiliates or any
officer, director, employee, consultant, agent or shareholder thereof, in their
capacities as such.  The Company agrees to promptly and immediately
notify the Purchaser and their representatives upon receipt of any inquiry,
notice or other communication from the Securities and Exchange Commission
concerning the Company.

     

    6.04       Post-Closing
Assistance.  Upon the reasonable request of the Purchaser, after the
Closing, the Company shall use its commercially
reasonable efforts to provide such information available to it, including
information, filings, reports, financial statements or other circumstances of
the Company occurring, reported or filed prior to the Closing, as may be
necessary or required by the Company for the preparation of the post-Closing
Date reports that the Company is required to file with the SEC to remain in
compliance and current with its reporting requirements under the Securities and
Exchange Act, or filings required to address and resolve matters as may relate
to the period prior to the Closing and any SEC comments relating thereto or any
SEC inquiry thereof. Such efforts of the Company
shall be at the expense of the Purchaser.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ARTICLE
VII

    MISCELLANEOUS

    

    7.01       Captions
and Headings.  The article and paragraph headings throughout this
Agreement are for convenience and reference only, and shall in no way be deemed
to define, limit, or add to the meaning of any provision of this
Agreement.

    

    7.02       No
Oral Change.  This Agreement and any provision hereof, may not be
waived, changed, modified, or discharged, orally, but only by an agreement in
writing signed by the party against whom enforcement of any waiver, change,
modification, or discharge is sought.

    

    7.03       Non
Waiver.  Except as otherwise expressly provided herein, no waiver of
any covenant, condition, or provision of this Agreement shall be deemed to have
been made unless expressly in writing and signed by the party against whom such
waiver is charged; and (i) the failure of any party to insist in any one or more
cases upon the performance of any of the provisions, covenants, or conditions of
this Agreement or to exercise any option herein contained shall not be construed
as a waiver or relinquishment for the future of any such provisions, covenants,
or conditions, (ii) the acceptance of performance of anything required by this
Agreement to be performed with knowledge of the breach or failure of a covenant,
condition, or provision hereof shall not be deemed a waiver of such breach or
failure, and (iii) no waiver by any party of one breach by another party shall
be construed as a waiver with respect to any other or subsequent
breach.

    

    7.04       Time
of Essence.  Time is of the essence of this Agreement and of each and
every provision hereof.

    

    7.05       Entire
Agreement.  This Agreement, including any and all attachments hereto,
if any, contain the entire Agreement and understanding between the parties
hereto, and supersede all prior agreements and understandings.

    

    7.06     
 Severability.  In the event that any condition, covenant
or other provision of this Agreement is held to be invalid or void by any court
of competent jurisdiction, it shall be deemed severable from the remainder of
this Agreement and shall in no way affect any other condition, covenant or other
provision of this Agreement. If such condition, covenant or other provision is
held to be invalid due to its scope or breadth, it is agreed that it shall be
deemed to remain valid to the extent permitted by law.

    

    7.07       Counterparts.  This
Agreement may be executed simultaneously 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.  Facsimile signatures will be acceptable
to all parties.

    

    7.08       Notices.  All
notices, requests, demands, and other communications under this Agreement shall
be in writing and shall be deemed to have been duly given on the date of service
if served personally on the party to whom notice is to be given, or on the third
day after mailing if mailed to the party to whom notice is to be given, by first
class mail, registered or certified, postage prepaid, or on the second day if
faxed, and properly addressed or faxed as follows:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    If to the
Company:

    C/o
Michael S. Krome, Esq.

    8 Teak Court

    Lake Grove,
NY  11755

    

    If to the
Purchaser, to their respective addresses set forth on Schedule A.

    

    7.09      Assignment.  This Agreement will not be
assigned by either party hereto without the written consent of the other
party.  It is agreed by Purchaser will not attempt to circumvent this
prohibition on assignment by any other agreement or action, including creating
direct or indirect rights in or to this Agreement or the Shares in any other
person or entity, prior to the Closing.

    

    7.10       Binding
Effect.  This Agreement shall inure to and be binding upon the heirs,
executors, personal representatives, successors and permitted assigns of each of the parties to this
Agreement.

    

    7.11       Mutual
Cooperation.    The parties hereto shall cooperate with each
other to achieve the purpose of this Agreement, and shall execute such other and
further documents and take such other and further actions as may be necessary or
convenient to effect the transaction described herein. 

    

    In
witness whereof, this Agreement has been duly executed by the parties hereto as
of the date first above written.

    

    
      Majic
Wheels Corp.

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	      
                                      By:

                                    	
                                       
      

                                    	 	
                                       
      

                                    	 
	 
      	 	 
      	 
	
                                        
      

                                    	 	 
      	 
	
                                      Officer,
      Director Individually

                                    	 	 
      	 
	 
      	 	 
      	 
	
                                        
      

                                    	 	 
      	 
	
                                      Officer,
      Director, Individually

                                    	 	 
      	 
	 
      	 	 
      	 
	
                                      Purchaser

                                    	 	
                                      PurchaserExecution
Version

    

    AMENDMENT TO ASSET PURCHASE
AGREEMENT

     

    This
Amendment (the “Amendment”) to the
Asset Purchase Agreement, entered into and dated as of June 23, 2010 (the “Asset Purchase
Agreement”), by and among Luby’s, Inc., a Delaware corporation (“Luby’s”), Fuddruckers,
Inc., a Texas corporation (“Fuddruckers”), Magic
Brands, LLC, a Delaware limited liability company (“Magic”, and together
with Fuddruckers, collectively, the “Company”), Atlantic
Restaurant Ventures, Inc., a Virginia corporation (“ARVI,” and together
with each of Magic and Fuddruckers, the “Debtors”), R. Wes,
Inc., a Texas corporation (“R. Wes”),
Fuddruckers of Howard County, LLC, a Maryland limited liability company (“Howard County”), and
Fuddruckers of White Marsh, LLC, a Maryland limited liability company (“White Marsh,” and
together with R. Wes and Howard County, the “Non-Debtor Sellers,”
and the Non-Debtor Sellers together with the Debtors, each a “Seller” and,
collectively, the “Sellers”), is entered
into as of July 26, 2010, by and among Luby’s Fuddruckers Restaurants, LLC,
a Texas limited liability company (the “Purchaser”), and the
Sellers.  Capitalized terms used and not defined in this Amendment
shall have the meanings given to them in the Asset Purchase
Agreement.

     

    RECITALS

     

    WHEREAS,
Luby’s has assigned all of its rights and obligations under the Asset Purchase
Agreement to the Purchaser pursuant to and subject to Section 12.10 of the Asset
Purchase Agreement;

     

    WHEREAS,
the Sellers have agreed in Section 8.2(B) of the Asset Purchase Agreement to not
sell gift certificates and gift cards at any Seller-owned or -operated Acquired
Location after the Petition Date (as more fully set forth in said Section
8.2(B)) and the Sellers and the Purchaser desire to amend Section 3.1 of the
Asset Purchase Agreement to provide the Purchaser with a credit of $12,000 as
compensation for gift certificates and gift cards sold by the Sellers after the
Petition Date;

     

    WHEREAS,
the Sellers have agreed in Section 8.3 of the Asset Purchase Agreement to
reasonably cooperate with the Purchaser in connection with the Purchaser’s
efforts to obtain any Liquor License Approvals and the Purchaser has determined
that acquiring Fuddruckers’ equity interests in R. Wes and Howard County
would help facilitate the Purchaser’s efforts in obtaining the Liquor License
Approvals;

     

    WHEREAS,
the Sellers and the Purchaser desire to amend the Asset Purchase Agreement to
provide that, on the Closing Date, the Sellers will transfer all cash, cash
equivalents, bank deposits or similar cash items of R. Wes to the
Sellers;

     

    WHEREAS,
the Sellers and the Purchaser desire to amend the process set forth in Section
8.10 of the Asset Purchase Agreement for the payment of utility charges relating
to the Acquired Locations incurred prior to the Closing Date;

     

    WHEREAS,
the Sellers desire to use the corporate office after the Closing and the
Purchaser will allow such use on the terms set forth herein;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WHEREAS,
the Sellers and the Purchaser desire to amend the Asset Purchase Agreement to
provide that the intercompany receivables owing from any of the Seller Parties
(as defined below) to one or more of the other Seller Parties are not Purchased
Assets and that intercompany Liabilities owing from any of the Seller Parties to
one or more of the other Seller Parties are not Assumed
Liabilities;

     

    WHEREAS,
the Sellers and the Purchaser have agreed that the Pearland/Oceanside Personal
Property (as defined below) should be Purchased Assets; and

     

    WHEREAS,
the parties hereto wish to amend the Asset Purchase Agreement with respect to
the matters set forth herein.

     

    AGREEMENT

     

    NOW,
THEREFORE, the Purchaser and the Sellers agree as follows:

     

    1.           Amendment
of Section 2.1(b).  Section 2.1(b) of the Asset Purchase
Agreement is hereby amended to add new subparagraphs (xviii) and (xix) as
follows:

     

    “(xviii)     all
of Fuddruckers’ right, title and interest in the outstanding capital stock or
other equity interest of R. Wes and Howard County; and

     

      (xix)       subject
to the procedures required by the Bankruptcy Court (including, to the extent
applicable, the procedures set forth in the Final Order Authorizing and
Approving Expedited Procedures for the Sale of De Minimis Assets (the “De Minimis Sale Procedures
Order”)), all of the Furniture and Equipment (other than fixtures or
fixed assets) owned by the Sellers and located at the Sellers’ restaurant #432
located at 3149 Silverlake Village Dr., #104, Pearland, Texas 77584 (the “Pearland Location”)
and at the Sellers’ restaurant #434 located at 2320 S. El Camino Real,
Oceanside, CA 92054 (the “Oceanside Location”)
(such Furniture and Equipment, the “Pearland/Oceanside Personal
Property”).”

     

    2.           Amendments
of Section 2.2.

     

    (a)           Section 2.2(m)
of the Asset Purchase Agreement is hereby amended to delete the existing
Section 2.2(m) in its entirety and to replace such provision with the
following:

     

    “(m)    all
shares of capital stock or other equity interest of any Seller (other than
R. Wes and Howard County), and of ARVI of Pikesville, Inc., a Maryland
corporation, A.R.I.V. – Rockville, Inc., a Maryland corporation, and 8725
Metcalf II, Inc., a Kansas corporation (collectively, the “Excluded Entities”),
or any securities convertible into, exchangeable or exercisable for shares of
capital stock or other equity interest of any Seller (other than R. Wes and
Howard County) or any Excluded Entity;”

     

    (b)           Section 2.2(o)
of the Asset Purchase Agreement is hereby amended to delete the existing Section
2.2(o) in its entirety and to replace such provision with the
following:

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    “(o) (i)
all credit card accounts receivable, deposits and other holdbacks being held by
credit card companies, in each case as of the Closing Date, in connection with
credit cards accepted by the Sellers, (ii) that certain receivable owing from
R.J. Management LLC to one or more of the Sellers with respect to obligations
under that certain Restaurant Management Agreement dated April 30, 2007; and
(iii) all intercompany receivables owing from any of the Sellers or their
Affiliates (including, without limitation, KCI, LLC, King Cannon, Inc. and
Fuddruckers International, LLC) (collectively, the “Seller Parties”) to
one or more of the other Seller Parties (including, without limitation, any
intercompany receivables under that certain Restaurant Management Agreement,
dated as of December 30, 1998, by and between Fuddruckers and Magic, as amended
and that certain Intellectual Property Licensing Agreement, dated as of December
30, 1998, by and between Fuddruckers and Magic, as amended);”

     

    3.           Amendment
of Sections 2.3 and 2.4.  Sections 2.3(a), 2.3(b), 2.3(c),
2.4(h) and 2.4(i) of the Asset Purchase Agreement are hereby amended to delete
the term “Closing Date” as used therein and to replace such term with the word
“Closing”.

     

    4.           Amendment
of Section 2.4.  Section 2.4 of the Asset Purchase
Agreement is hereby amended to add a new subparagraph (k) as
follows:

     

    “(k) all
intercompany Liabilities owing from any of the Seller Parties to one or more of
the other Seller Parties (including, without limitation, any intercompany
Liabilities under that certain Restaurant Management Agreement, dated as of
December 30, 1998, by and between Fuddruckers and Magic, as amended and that
certain Intellectual Property Licensing Agreement, dated as of December 30,
1998, by and between Fuddruckers and Magic, as amended).”

     

    5.           Amendment
of Section 3.1.  Section 3.1 of the Asset Purchase
Agreement is hereby amended to delete the existing Section 3.1 in its
entirety and to replace such provision with the following:

     

    “3.1 
  Purchase
Price.  The aggregate cash consideration for the Purchased
Assets (the “Purchase
Price”) shall be an amount equal to the sum of:  (a) the
Asset Price, plus (b) the amount of the Register Cash, plus (c) the amount
of all security deposits (as reflected in Schedule 5.12(d))
held by the landlords under and pursuant to the Assumed Leases as of the
Closing, plus or minus (d) the aggregate amount payable by the Purchaser or the
Sellers in accordance with Sections 8.10 and
11.1 and minus
(e) $12,000.”

     

    6.           Amendment
of Section 4.1.  Section 4.1 of the Asset Purchase
Agreement is hereby amended to add the following at the end of such
Section 4.1:

     

    “Notwithstanding
anything to the contrary contained in this Agreement, (i) the Closing shall be
deemed to have occurred at 12:01 a.m. (Boston time) on the Closing Date and (ii)
as a result thereof, all sales at the Acquired Locations on or after the Closing
Date shall be for the account of the Purchaser and the Sellers shall promptly
pay to the Purchaser all amounts received by the Sellers in respect of such
sales (including amounts received from credit card purchases).”

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    7.           Amendment
of Section 8.10(c).  Section 8.10(c) of the Asset Purchase
Agreement is hereby amended to delete the existing Section 8.10(c) in its
entirety and to replace such provision with the following:

     

    “(c)         Any
amounts payable by the Sellers in accordance with this Section 8.10 and
Section 11.1
shall be paid and fully satisfied in accordance with Section 3.1.  Except
as provided in the next sentence, the Purchaser shall pay to any applicable
third party all amounts due and payable after the Closing with respect to the
items to which the proration provisions of this Section 8.10 and
Section 11.1
apply.  Notwithstanding the foregoing, the Sellers and the Purchaser
shall cause all water, telephone, electricity and other utility accounts to be
transferred from the Sellers to the Purchaser effective as of the Closing Date,
and the Sellers shall pay to any applicable third party all amounts due and
payable for water, telephone, electricity and other utility accounts used prior
to the Closing Date and the Purchaser shall pay to any applicable third party
all amounts due and payable for water, telephone, electricity and other utility
accounts used on or after to the Closing Date.  If the Sellers or the
Purchaser receive bills for water, telephone, electricity and other utility
accounts that relate to usage both before and after the Closing (each, a “Straddle Period Utility
Bill”), then the Sellers and the Purchaser shall pro rate the charges for
such usage in accordance with Section 8.10(a) and shall reimburse each other the
amount due no later than August 23, 2010; provided, however, in the event
a Straddle Period Utility Bill is not received for a utility account by August
20, 2010, then the Sellers and the Purchaser shall pro rate the charges for such
usage in accordance with Section 8.10(a) based on the amounts paid with respect
to the prior period as reflected on the most recent invoice received by the
Sellers for the applicable utility account and shall reimburse each other the
amount due no later than August 23, 2010.”

     

    8.           Amendments
of Article VIII.

     

    (a)           Article
VIII of the Asset Purchase Agreement is hereby amended to add a new
Section 8.16 as follows:

     

    “8.16   Officer and Director
Resignations and Appointments.  Prior to the Closing, and
effective as of the Closing, the Sellers shall cause each of the officers,
managers and directors of R. Wes and Howard County, as applicable, to
resign as officers, managers and directors of R. Wes and Howard County and
shall appoint or cause to be appointed as officers, managers and directors of
R. Wes and Howard County, as applicable, the Persons designated by the
Purchaser in a notice delivered to the Sellers prior to Closing.”

     

    (b)           Article
VIII of the Asset Purchase Agreement is hereby amended to add a new
Section 8.17 as follows:

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    “8.17   Corporate
Office.  The Purchaser expects to assume the Office Lease,
dated as of February 15, 2005, by and between Sage Monterey Oaks, Ltd., a Texas
limited liability partnership, as Landlord, and Magic Restaurants, LLC, as
Tenant, as amended by the First Amendment to Lease Agreement, dated as of August
31, 2005, by and between Sage-Monterey Oaks, Ltd., as Landlord, and Fuddruckers,
Inc., as Tenant, and the Second Amendment to Lease Agreement, dated as of
November 1, 2005, by and between Sage-Monterey Oaks, Ltd., as Landlord, and
Fuddruckers, Inc., as Tenant (the “Corporate Office
Lease”), in respect of the Debtors’ corporate office located at 5700
MoPac Expressway, #C-300, Austin, Texas (the “Corporate
Office”).  The Debtors shall have the non-exclusive right to
share the use of the Corporate Office with the Purchaser beginning on the
Closing Date and continuing until December 31, 2010 (the “Shared Use
Term”).  The Purchaser shall not grant any other Person (other
than Affiliates of the Purchaser) the right to the use of the Corporate Office
without the consent of the Debtors.  The Debtors shall promptly
reimburse the Purchaser for 50% of all rents, common area maintenance and other
costs and charges paid by the Purchaser under the Corporate Office Lease in
respect of the Shared Use Term and 50% of all real estate taxes due under the
Corporate Office Lease, water, telephone, electricity and other utility charges
for the Corporate Office in respect of the Shared Use Term.  The
Debtors may use the Corporate Office for the sole purpose of winding down the
affairs of the Debtors in a manner that is consistent with the requirements and
limitations set forth in the Corporate Office Lease and for no other purpose
without the prior written consent of the Purchaser.  Subject to the
Corporate Office Lease, so long as the Debtors are paying when due the amounts
required under this Section 8.17 and are otherwise in compliance with their
obligations under this Section 8.17, they shall have the non-exclusive right to
share the use of the Corporate Office with the Purchaser without interference
from the Purchaser or any party claiming by, through or under the
Purchaser.  The Debtors shall vacate their space within the Corporate
Office at the end of the Shared Use Term in broom-clean condition and otherwise
as required by the Corporate Office Lease.  The Debtors shall maintain
appropriate insurance covering their use of the Corporate Office and their
employees and representatives making use of such office.  The Debtors
shall indemnify, defend and hold harmless the Purchaser and its Affiliates for
any and all claims, losses, damages, liabilities, settlement payments, awards,
judgments, fines, penalties, assessments, obligations, costs or expenses of any
kind or type paid by the Purchaser to a third party and arising or resulting
from the actions or omissions of the Debtors (or their employees,
representatives or guests) at the Corporate Office which are in violation of
this Section 8.17, in violation of the Corporate Office Lease or in violation of
Law.  The Purchaser shall indemnify, defend and hold harmless the
Debtors and their Affiliates for any and all claims, losses, damages,
liabilities, settlement payments, awards, judgments, fines, penalties,
assessments, obligations, costs or expenses of any kind or type paid by the
Debtors to a third party and arising or resulting from the actions or omissions
of the Purchaser (or its employees, representatives or guests) at the Corporate
Office which are in violation of this Section 8.17, in violation of the
Corporate Office Lease or in violation of Law.  The Debtors’ rights
under this Section 8.17 are subject and subordinate to the Corporate Office
Lease and the Debtors agree that they will abide by the terms of the Corporate
Office Lease applicable to the Purchaser.”

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

     

    (c)           Article
VIII of the Asset Purchase Agreement is hereby amended to add a new
Section 8.18 as follows:

     

    “8.18   Pearland Location and
Oceanside Location.  In the event a landlord objects to the
sale to the Purchaser of any of the Pearland/Oceanside Personal Property (in
each case, a “Landlord
Objection”), the Debtors and the Purchaser shall cooperate with each
other and use their commercially reasonable efforts to resolve such Landlord
Objection with the Purchaser bearing, and promptly reimbursing the Debtors for
all reasonable expenses incurred by the Debtors with Purchaser’s prior consent
in connection with the resolution of such Landlord Objection.  The
Purchaser shall remove the Pearland/Oceanside Personal Property from the
Pearland Location and the Oceanside Location at its own cost and expense on or
before July 31, 2010 unless Purchaser is prohibited as a result of the Landlord
Objection from taking possession of the Pearland/Oceanside Personal Property
subject to such Landlord Objection.  Nothing in this Section 8.18
requires Purchaser to proceed with the purchase of Pearland/Oceanside Personal
Property that is the subject of a Landlord Objection and, at anytime prior to
the sale of such Pearland/Oceanside Personal Property becoming effective
pursuant to the terms of the De Minimis Sale Procedures Order, Purchaser may by
written notice delivered to the Sellers in accordance with Section 12.8 of this
Agreement, designate some or all of the Pearland/Oceanside Personal Property as
an Excluded Asset.”

     

    (d)           Article
VIII of the Asset Purchase Agreement is hereby amended to add a new
Section 8.19 as follows:

     

    “8.19   Cash of R. Wes. On
the Closing Date, the Sellers shall transfer all cash, cash equivalents, bank
deposits or similar cash items of R. Wes to the Sellers.”

     

    9.           Waiver.  The
Purchaser hereby agrees to waive any failure by the Sellers to comply with the
provisions of Section 8.2(B) of the Asset Purchase Agreement.

     

    10.        No Other
Amendments or Waivers; Asset Purchase Agreement Remains in
Effect.  Except as expressly amended by Sections 1, 2, 3, 4, 5,
6, 7 and 8 of this Amendment or expressly waived by Section 9 of this Amendment,
the Asset Purchase Agreement shall remain in full force and effect in the form
in which it existed immediately prior to the execution and delivery of this
Amendment.

     

    11.        Amendments.  No
amendments, changes or modifications to this Amendment shall be valid unless the
same are in writing and signed by the parties hereto.

     

    12.        Applicable
Law.  This Amendment shall be governed by and construed in
accordance with the Laws of the State of Delaware applicable to contracts made
and performed in such State.

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

     

    13.        Counterparts.  This
Amendment may be executed in one or more counterparts, each of which will be
deemed to be an original copy of this Amendment and all of which, when taken
together, will be deemed to constitute one and the same agreement.

     

    [Signature
Page Follows]

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

    

    IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to the Asset Purchase Agreement to be
executed in counterparts as of the day and year first above
written.

     

    THE
PURCHASER:

     

    
      
        
          	
                  LUBY’S
      FUDDRUCKERS RESTAURANTS, LLC

                	 
      
	 	 
	
                  By:

                	
                   Luby’s
      Management, Inc., its Manager

                	 
      

        

      

    

    

    
      
        
          
            
              
                
                  
                    	

                            By: 

                          	  	

                            /s/
      Peter Tropoli 

                          
	 
      	
                            Name:

                          	
                            Peter
      Tropoli

                          
	 
      	
                            Title:

                          	
                            Senior
      Vice President, Administration,

                          
	 
      	 
      	
                            General
      Counsel and
Secretary

                          

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    THE
SELLERS:

     

    
      
        
          
            
              
                
                  
                    
                      	
                              FUDDRUCKERS,
      INC.

                            	 	
                              R.
      WES, INC.

                            
	 
      	 
      	 	 
      	 
      
	
                              By:

                            	
                              /s/
      Peter Large

                            	 	
                              By:

                            	
                              /s/
      Michael Mason

                            
	 
      	
                              Name:  Peter
      Large

                            	 	 
      	
                              Name:  Michael
      Mason

                            
	 
      	
                              Title:  President

                            	 	 
      	
                              Title:  President

                            
	 
      	 
      	 	 
      	 
      
	
                              MAGIC
      BRANDS, LLC

                            	 	
                              FUDDRUCKERS
      OF HOWARD COUNTY, LLC

                            
	 	 	 
	
                              By:  KCI,
      LLC, its sole Manager

                            	 	
                              By:  Fuddruckers,
      Inc., its Managing Member

                            
	 
      	 
      	 	 
      	 
      
	
                              By:

                            	
                              /s/
      Peter Large

                            	 	
                              By:

                            	
                              /s/
      Peter Large

                            
	 
      	
                              Name:  Peter
      Large

                            	 	 
      	
                              Name:  Peter
      Large

                            
	 
      	
                              Title:  Manager

                            	 	 
      	
                              Title:  President

                            
	 
      	 
      	 	 
      	 
      
	
                              ATLANTIC
      RESTAURANT VENTURES, 

                            	 	
                              FUDDRUCKERS
      OF WHITE MARSH, LLC

                            
	
                              INC. 

                            	 	 
	
                                
      

                            	
                               

                            	  	
                              By:  Fuddruckers,
      Inc., its Managing Member

                            
	

                              By: 

                            	

                              /s/
      Peter
      Large 

                            	 	 
	 
      	
                              Name:  Peter
      Large

                            	 	
                              By:

                            	
                              /s/
      Peter
      Large

                            
	 
      	
                              Title:  Director

                            	 	 
      	
                              Name:  Peter
      Large

                            
	 
      	 
      	 	 
      	
                              Title:  President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]