Document:

I-WEB MEDIA,
INC.

    PROMISSORY
NOTE

     

    
      
        
          	
                  Principal
      Amount:  $5,000

                	
                  December
      27, 2010

                

        

      

    

     

    FOR VALUE
RECEIVED, I-Web Media, Inc., a Delaware corporation, its assigns and successors
(the “Company”), hereby promises to pay to the order of Rockland Group LLC, a
Texas limited liability company (the “Holder”), in immediately available funds,
the total principal sum of Five Thousand Dollars ($5,000).  The
principal hereof and any unpaid accrued interest thereon shall be due and
payable on or before 5:00 p.m., Eastern Standard Time, on January 15, 2011
(the “Maturity Date”) (unless such payment date is accelerated as provided in
Section 3 hereof).  Payment of all amounts due hereunder shall be made
at the address of the Holder provided for in Section 6
hereof.  Interest shall accrue at the rate of fifteen percent (15%)
per annum on this Note from the date hereof.  In addition, all wire
transaction fees incurred by Holder will be reimbursed to Holder.

     

    
      	
               
      

            	
              1.

            	
              History of
      the Loan.  This Note is being delivered to Holder as
      consideration for a short term cash loan by and between the Company and
      Holder, made of even date hereof (the
“Loan”).

            

    

     

    
      	
               
      

            	
              2.

            	
              Payment
      Schedule.  All principal, interest, and wire transaction
      fees due under this Note will be due and payable by the Company to the
      Holder on January 15, 2011.

            

    

     

    
      	
               
      

            	
              3.

            	
              Prepayment.  The
      Company may at any time prepay all or any part of the then-outstanding
      principal and interest, provided that concurrently with each such
      prepayment the Company shall pay accrued interest on the principal, if
      any, so prepaid to the date of such
prepayment.

            

    

     

    
      	
               
      

            	
              4.

            	
              Transferability.  This
      Note shall not be transferred, pledged, hypothecated, or assigned by
      either party without the express written consent of the other
      Party.  In the event any third party acquires a controlling
      interest in the Company or acquires substantially all of the assets of the
      Company (a “Reorganization Event”), this Note will survive and become an
      obligation of the party that acquires such controlling interest or
      assets.  In the event of a Reorganization Event the Company
      agrees to make the party that acquires such controlling interest or assets
      aware of the terms of this Section and this
  Note.

            

    

     

    
      	
               
      

            	
              5.

            	
              Default.  The
      occurrence of any one of the following events shall constitute an Event of
      Default:

            

    

     

    (a)           The
non-payment, when due, of any principal or interest pursuant to this
Note;

     

    (b)           The
material breach of any representation or warranty in this Note.  In
the event the Holder becomes aware of a breach of this Section 7(b), the Holder
shall notify the Company in writing of such breach and the Company shall have
five business days after notice to cure such breach;

     

    (c)           The
breach of any covenant or undertaking, not otherwise provided for in this
Section 7;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (d)           The
commencement by the Company of any voluntary proceeding under any bankruptcy,
reorganization, arrangement, insolvency, readjustment of debt, receivership,
dissolution, or liquidation law or statute of any jurisdiction, whether now or
hereafter in effect; or the adjudication of the Company as insolvent or bankrupt
by a decree of a court of competent jurisdiction; or the petition or application
by the Company for, acquiescence in, or consent by the Company to, the
appointment of any receiver or trustee for the Company or for all or a
substantial part of the property of the Company; or the assignment by the
Company for the benefit of creditors; or the written admission of the Company of
its inability to pay its debts as they mature; or

     

    (e)           The
commencement against the Company of any proceeding relating to the Company under
any bankruptcy, reorganization, arrangement, insolvency, adjustment of debt,
receivership, dissolution, or liquidation law or statute of any jurisdiction,
whether now or hereafter in effect, provided, however, that the commencement of
such a proceeding shall not constitute an Event of Default unless the Company
consents to the same or admits in writing the material allegations of same, or
said proceeding shall remain undismissed for 20 days; or the issuance of any
order, judgment or decree for the appointment of a receiver or trustee for the
Company or for all or a substantial part of the property of the Company, which
order, judgment or decree remains undismissed for 20 days; or a warrant of
attachment, execution, or similar process shall be issued against any
substantial part of the property of the Company.

     

    Upon the
occurrence of any Default or Event of Default, the Holder, may, by written
notice to the Company, declare all or any portion of the unpaid principal amount
due to Holder, together with all accrued interest thereon, immediately due and
payable, in which event it shall immediately be and become due and payable,
provided that upon the occurrence of an Event of Default as set forth in
paragraph (d) or paragraph (e) hereof, all or any portion of the unpaid
principal amount due to Holder, together with all accrued interest thereon,
shall immediately become due and payable without any such notice.

     

    
      	
               
      

            	
              6.

            	
              Notices.  All
      notices required under this Note shall be given as
  follows:

            

    

     

    
      	 	
              If
      to the Company:

            	
              James
      F. Groelinger

            

    

    Chief
Executive Officer

    I-Web
Media, Inc.

    1
International Boulevard, Suite 400

    Mahwah,
NJ  07495

    E-mail:
jgroelinger@hbcapital.com

    Fax:  (518)
252-3917

    

    
      	 	
              If
      to the Holder:

            	
              Harry
      Pond

            

    

    Managing
Partner

    Rockland
Group LLC

    706
Hillcrest Dr.

    Richmond,
TX  77469

    E-mail:
rockhpond@gmail.com

    Fax:
281-242-0080

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              7.

            	
              Governing
      Law; Venue.  This Note is executed pursuant to and shall
      be interpreted and governed for all purposes under the laws of the State
      of Texas.  Any cause of action brought to enforce any provision
      of this Note shall be brought in the appropriate court in Fort Bend
      County, Texas.  If any provision of this Agreement is declared
      void, such provision shall be deemed severed from this Note, which shall
      otherwise remain in full force and effect.  This Note shall
      supersede any previous agreements, written or oral, expressed or implied,
      between the parties relating to the subject matter
  hereof

            

    

     

    
      	
               
      

            	
              8.

            	
              Conformity
      with Law.  It is the intention of the Company and Holder
      to conform strictly to applicable usury and similar
      laws.  Accordingly, notwithstanding anything to the contrary in
      this Note, it is agreed that the aggregate of all charges which constitute
      interest under applicable usury and similar laws that are contracted for,
      chargeable, or receivable under or in respect of this Note, shall under no
      circumstances exceed the maximum amount of interest permitted by such
      laws, and any excess, whether occasioned by acceleration or maturity of
      this Note or otherwise, shall be canceled automatically, and if
      theretofore paid, shall be either refunded to the Company or credited on
      the principal amount of this Note.

            

    

     

    
      	
               
      

            	
              9.

            	
              Modification;
      Waiver.  No modification or waiver of any provision of
      this Note or consent to departure therefrom shall be effective unless in
      writing and approved by the Company and Holder.  If any
      provision of this Note shall be invalid or unenforceable in any
      jurisdiction, such invalidity or unenforceability shall not affect the
      validity or enforceability of the remainder of this Note or the validity
      or enforceability of this Note in any other jurisdiction.  This
      Note supersedes all prior agreements and understandings among the parties
      hereto with respect to the subject matter
hereof

            

    

     

    IN
WITNESS WHEREOF, the Company has signed and sealed this Note and delivered it as
of December 16, 2010.

     

    
      
        
          
            
              
                	
                        “Company”

                      	 	
                        “Holder”

                      
	 
      	 	 
      
	
                        I-Web
      Media, Inc.,

                      	 	
                        Rockland
      Group LLC

                      
	 
      	 	 
      
	
                        a
      Delaware corporation

                      	 	
                        a
      Texas limited liability company

                      
	 
      	 	 
      
	
                        [sig]

                      	 	 
      
	
                        /s/
      James F. Groelinger

                      	 	
                        /s/
      Harry
      Pond                                                      

                      
	 	 	 
	
                        By:         James
      F. Groelinger

                      	 	
                        By:
      Harry Pond

                      
	 	 	 
	
                        Its:         Chief
      Executive Officer

                      	 	
                        Its:
      Managing
PartnerI-WEB
MEDIA, INC.

    

    THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (“THE ACT”), OR THE SECURITIES LAWS OF ANY
STATE, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED, OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT AND ANY APPLICABLE STATE LAWS, (ii) TO THE EXTENT APPLICABLE, RULE
144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION
OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE
REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM
REGISTRATION UNDER THE ACT AND APPLICABLE STATE LAW IS AVAILABLE.

    

    IWBM No.
[__]

    

    STOCK
PURCHASE WARRANT

    

    THIS IS
TO CERTIFY that, for value received, [____________], an individual, or
his/her/its assigns (the “Holder”) is entitled, subject to the terms and
conditions set forth herein, to purchase from I-Web Media, Inc., a Delaware
corporation (the “Company”) up to [____________________] ([___________]) fully
paid and nonassessable shares of common stock of the Company (the “Warrant
Securities”) at $1.50 per share, as adjusted under Section 3 (the “Exercise
Price”), upon payment by cashier’s check or wire transfer of the Purchase Price
(as defined below) for such shares of the Common Stock to the Company at the
Company’s offices.

    

    1.           Exercisability.
This Warrant may be exercised into one-half of the Warrant Securities or a
portion thereof at any time, or from time to time, between the date hereof and
5:00 p.m. Eastern Standard Time on that date which is four (4) years from the
date hereof, by presentation and surrender hereof to the Company of a notice of
election to purchase duly executed and accompanied by payment by check or wire
transfer of the Purchase Price, which is determined by multiplying the number of
shares for which this Warrant is being exercised by the Exercise Price, both as
may be adjusted from time to time in accordance with the provisions of this
Warrant.  The Warrant may not be exercised into the other half of the
Warrant Securities, or a portion thereof, until the date that is one year from
the date of Warrant, or from time to time thereafter, between the one year
anniversary date of this Warrant and 5:00 p.m. Eastern Standard Time on that
date which is four (4) years from the date hereof.  When this Warrant
is exercisable for the other half of the Warrant Securities or a portion
thereof, such exercise by the Holder shall be in the manner just
described.

    

    2.           Manner of
Exercise.  In case of the purchase of less than all of the
Warrant Securities, the Company shall cancel this Warrant upon the surrender
hereof and shall execute and deliver a new warrant of like tenor for the balance
of the Warrant Securities.  Upon the exercise of this Warrant, the
issuance of certificates for securities, properties, or rights underlying this
Warrant shall be made forthwith (and in any event within three (3) business days
thereafter) without charge to the Holder including, without limitation, any tax
that may be payable in respect of the issuance thereof: provided, however, that
the Company shall not be required to pay any tax in respect of income or capital
gain of the Holder.

    
      
         

      

      
        Page 1 of
7

        
          

        

      

      
         

      

    

    If and to
the extent this Warrant is exercised, in whole or in part, the Holder shall be
entitled to receive a certificate or certificates representing the Warrant
Securities so purchased, upon presentation and surrender to the Company of the
form of election to purchase attached hereto duly executed, and accompanied by
payment of the Purchase Price.

    

    3.           Adjustment in
Number of Shares.

    

    (A)           Adjustment for
Reclassifications.  In case at any time or from time to time
after the issue date the holders of the Common Stock of the Company (or any
shares of stock or other securities at the time receivable upon the exercise of
this Warrant) shall have received, or, on or after the record date fixed for the
determination of eligible stockholders, shall have become entitled to receive,
without payment therefore, additional stock or other securities or property
(including cash) by way of stock split, spin-off, reclassification, combination
of shares, or similar corporate rearrangement (exclusive of any stock dividend
of its or any subsidiary’s capital stock), then and in each such case the Holder
of this Warrant, upon the exercise hereof as provided in Section 1, shall be
entitled to receive the amount of stock and other securities and property which
such Holder would hold on the date of such exercise if on the issue date he had
been the holder of record of the number of shares of Common Stock of the Company
called for on the face of this Warrant and had thereafter, during the period
from the issue date, to and including the date of such exercise, retained such
shares and/or all other or additional stock and other securities and property
receivable by him as aforesaid during such period, giving effect to all
adjustments called for during such period.  In the event of any such
adjustment, the Exercise Price shall be adjusted proportionally.

    

    (B)           Adjustment for
Reorganization, Consolidation, Merger.  In case of any
reorganization of the Company (or any other corporation the stock or other
securities of which are at the time receivable on the exercise of this Warrant)
after the issue date, or in case, after such date, the Company (or any such
other corporation) shall consolidate with or merge into another corporation or
convey all or substantially all of its assets to another corporation, then and
in each such case the Holder of this Warrant, upon the exercise hereof as
provided in Section 1 at any time after the consummation of such reorganization,
consolidation, merger, or conveyance, shall be entitled to receive, in lieu of
the stock or other securities or property to which such Holder would be entitled
had the Holder exercised this Warrant immediately prior thereto, all subject to
further adjustment as provided herein; in each such case, the terms of this
Warrant shall be applicable to the shares of stock or other securities or
property receivable upon the exercise of this Warrant after such
consummation.

    
      
         

      

      
        Page 2 of
7

        
          

        

      

      
         

      

    

    4.           No Requirement to
Exercise.  Nothing contained in this Warrant shall be construed
as requiring the Holder to exercise this Warrant prior to or in connection with
the effectiveness of a registration statement.

    

    5.           Cashless
Exercise.
Notwithstanding any provisions herein to the contrary, if the fair market value
of one share of the Company’s common stock is greater than the Exercise Price,
in lieu of exercising this Warrant by payment of cash, the holder hereof may
elect to receive shares equal to the value (as determined below) of this Warrant
(or the portion thereof being canceled) by surrender of this Warrant at the
principal office of the Company together with the properly endorsed form of
election to purchase in which event the Company shall issue to the holder hereof
a number of shares of the Company’s common stock computed using the following
formula:

     

    X = Y (A-B)

    A

     

    
      	
               
      

            	
              Where  

            	
              X
      =

            	
              the
      number of shares of the Company’s common stock to be issued to the holder
      hereof

            

    

    

    
      	
               
      

            	
              Y
      =

            	
              the
      number of shares of the Company’s common stock purchasable under the
      Warrant or, if only a portion of the Warrant is being exercised, the
      portion of the Warrant being canceled (at the date of such
      calculation)

            

    

     

    
      	
               
      

            	
              A
      =

            	
              the
      fair market value of one share of the Company’s common stock (at the date
      of such calculation)

            

    

     

    
      	
               
      

            	
              B
      =

            	
              the
      Exercise Price

            

    

     

    All
references herein to an “exercise” of the Warrant shall include an exchange
pursuant to this Section 5.  For the purposes of the above calculation, the
Fair Market Value of one share of the Company’s common stock as of a particular
date shall mean:

    

    (a)           If
traded on a securities exchange or the NASDAQ National Market, the Fair Market
Value shall be deemed to be the average of the closing prices of the common
stock of the Company on such exchange or market over the five (5) business days
ending immediately prior to the applicable date of valuation;

    

    (b)
       If actively traded over-the-counter, the Fair Market
Value shall be deemed to be the closing bid price of the common stock of the
Company on the day immediately prior to the applicable date of valuation;
and

    

    (c)
       If there is no active public market, the “Fair Market
Value” shall be the value thereof, as determined in good faith by the Company’s
Board of Directors

    
      
         

      

      
        Page 3 of
7

        
          

        

      

      
         

      

    

    A stock certificate representing the
appropriate number of shares of the common stock shall be delivered to the
holder hereof within five (5) days following the date of exercise.

    

    6.           No Stockholder
Rights.  Unless and until this Warrant is exercised, this
Warrant shall not entitle the Holder hereof to any voting rights or other rights
as a stockholder of the Company, or to any other rights whatsoever except the
rights herein expressed, and, no dividends shall be payable or accrue in respect
of this Warrant.

    

    7.           Exchange.  This
Warrant is exchangeable upon the surrender hereof by the Holder to the Company
for new warrants of like tenor representing in the aggregate the right to
purchase the number of Warrant Securities purchasable hereunder, each of such
new warrants to represent the right to purchase such number of Warrant
Securities as shall be designated by the Holder at the time of such
surrender.

    

    Upon
receipt by the Company of evidence reasonably satisfactory to it of the loss,
theft, destruction, or mutilation of this Warrant, and, in case of loss, theft,
or destruction, of indemnity or security reasonably satisfactory to it and
reimbursement to the company of all reasonable expenses incidental thereto, and
upon surrender and cancellation hereof, if mutilated, the Company will make and
deliver a new warrant of like tenor and amount, in lieu hereof.

    

    8.           Elimination of
Fractional Interests.  The Company shall not be required to
issue certificates representing fractions of securities upon the exercise of
this Warrant, nor shall it be required to issue scrip or pay cash in lieu of
fractional interests.  All fractional interests shall be eliminated by
rounding any fraction up to the nearest whole number of securities, properties,
or rights receivable upon exercise of this Warrant.

    

    9.           Reservation of
Securities.  The Company shall at all times reserve and keep
available out of its authorized shares of Common Stock or other securities,
solely for the purpose of issuance upon the exercise of this Warrant, such
number of shares of Common Stock or other securities, properties, or rights as
shall be issuable upon the exercise hereof.  The Company covenants and
agrees that, upon exercise of this Warrant and payment of the Purchase Price,
all shares of Common Stock and other securities issuable upon such exercise
shall be duly and validly issued, fully paid, non-assessable, and not subject to
the preemptive rights of any stockholder.

    

    10.           Notices to
Holder.  If at any time prior to the expiration of this Warrant
or its exercise, any of the following events shall occur:

    

    (a)           the
Company shall take a record of the holders of any class of its securities for
the purpose of entitling them to receive a dividend or distribution payable
otherwise than in cash, or a cash dividend or distribution payable otherwise
than out of current or retained earnings, as indicated by the accounting
treatment of such dividend or distribution on the books of the Company;
or

    
      
         

      

      
        Page 4 of
7

        
          

        

      

      
         

      

    

    (b)           the
Company shall offer to all the holders of a class of its securities any
additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option or
warrant to subscribe therefor; or

    

    (c)           a
dissolution, liquidation, or winding up of the Company (other than in connection
with a consolidation or merger) or a sale of all or substantially all of its
property, assets and business as an entirety shall be proposed.

    

    then, in
any one or more of said events, the Company shall give written notice of such
event to the Holder at least fifteen (15) days prior to the date fixed as a
record date or the date of closing the transfer books for the determination of
the stockholder entitled to such dividend, distribution, convertible or
exchangeable securities or subscription rights, or entitled to vote on such
proposed dissolution, liquidation, winding up, or sale.  Such notice
shall specify such record date or the date of closing the transfer books, as the
case may be.

    

    11.           Transferability.  This
Warrant may be transferred or assigned by the Holder only upon written consent
by the Company, which consent shall not be unreasonably withheld.

    

    12.           Informational
Requirements.  The Company will transmit to the Holder such
information, documents, and reports as are generally distributed to stockholders
of the Company concurrently with the distribution thereof to such
stockholders.

    

    13.           Notice.  Notices
to be given to the Company or the Holder shall be deemed to have been
sufficiently given if delivered personally or sent by overnight courier or
messenger, or by facsimile transmission.  Notices shall be deemed to
have been received on the date of personal delivery or facsimile
transmission.  The address of the Company and of the Holder shall be
as set forth in the Company’s books and records.

    

    14.           Consent to
Jurisdiction and Service.  The Company consents to the
jurisdiction of any court of the State of Texas, and of any federal court
located in Texas, in any action or proceeding arising out of or in connection
with this Warrant.  The Company waives personal service of any
summons, complaint, or other process in connection with any such action or
proceeding and agrees that service thereof may be made at the location provided
in Section 13 hereof, or, in the alternative, in any other form or manner
permitted by law.  The Holder and Company agree that Fort Bend County,
Texas shall be deemed proper venue.

    

    15.           Successors.  All
the covenants and provisions of this Warrant shall be binding upon and inure to
the benefit of the Company, the Holder, and their respective legal
representatives, successors, and assigns.

    
      
         

      

      
        Page 5 of
7

        
          

        

      

      
         

      

    

    16.           Attorneys’
Fees.  In the event the Holder hereof shall refer this Warrant
to an attorney to enforce the terms hereof, the Company agrees to pay all the
costs and expenses incurred in attempting or effecting collection hereunder,
including reasonable attorney's fees, whether or not suit is
instituted.

    

    17.           Governing
Law.  THIS WARRANT SHALL BE GOVERNED, CONSTRUED, AND
INTERPRETED UNDER THE LAWS OF THE STATE OF TEXAS, WITHOUT GIVING EFFECT TO THE
RULES GOVERNING CONFLICTS OF LAW.

    

    IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by the
signature of its Chief Executive Officer and to be delivered in the Township of
Mahwah, New Jersey.

    

    
      
        	
                Dated:  December
      [__], 2010

              	
                I-WEB
      MEDIA, INC.,

              
	 
      	
                a
      Delaware corporation

              
	 
      	 
      
	 
      	
                  

              
	 
      	
                By:    James
      F. Groelinger

              
	 
      	
                Its:    Chief
      Executive Officer

              

      

    

    
      
         

      

      
        Page 6 of
7

        
          

        

      

      
         

      

    

    [FORM OF
ELECTION TO PURCHASE]

    

    The
undersigned, the holder of the attached Warrant, hereby irrevocably elects to
exercise the purchase right represented by this Warrant Certificate for, and to
purchase securities of, I-Web Media, Inc. and herewith makes payment of
$__________ therefor, and requests that the certificates for such securities be
issued in the name of, and delivered to ___________________, whose address is
______________________________.

    

    Dated:
____________________, 20___

    

    
      
        
          
            
              
                	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	
                        Its:

                      	 
      
	 
      	
                        (Signature
      must conform in all respects to name of holder as specified on the face of
      the Warrant Certificate)

                      
	 
      	 
      
	 
      	 
      
	 
      	
                        (Insert
      Social Security or Other

                      
	 
      	
                        Identifying
      Number of
Holder)

                      

              

            

          

        

      

    

     

    
      
         

      

      
        Page 7 of
7

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