Document:

Exhibit
      10.3

     

    SUBORDINATED
      SECURED PROMISSORY NOTE AND PLEDGE AGREEMENT

    

      
        	
                $2,500,000.00

              	
                New
                  York, New York

              
	 	
                December
                  17, 2007

              

      
 

    FOR
      VALUE
      RECEIVED, UNITED BENEFITS & PENSION SERVICES, INC. (the “Maker”), a Delaware
      corporation, promises to pay to the order of Tom Weston (“Holder”), as agent for
      the Company Stockholders (as defined below), the principal sum of TWO MILLION
      FIVE HUNDRED THOUSAND DOLLARS AND NO CENTS ($2,500,000.00), in accordance with,
      and subject to, the terms of that certain Client Escrow Agreement, dated as
      of
      even date herewith (the “Escrow Agreement”), by and among the Maker, the Holder,
      and the JPMorgan Chase Bank, N.A., as escrow agent (the “Escrow Agent”).

     

    Interest
      shall accrue on all outstanding principal from the date hereof at a rate per
      annum equal to three and 99/100 percent (3.99%). Interest shall be computed
      on
      the basis of the actual number of days elapsed and a year of 360 days.

     

    On
      any
      date on which the Escrow Agent is directed or permitted to pay any funds to
      any
      Company Stockholder (as defined in the Escrow Agreement) pursuant to the Escrow
      Agreement (each, a “Payment Date”), a portion of the outstanding principal
      amount of this Subordinated Secured Promissory Note and Pledge Agreement (the
      “Note and Pledge Agreement”) shall become immediately due and payable to the
      extent of and in an amount equal to such payment (an “Escrow Payment”),
      provided, that any portion of the outstanding principal balance of this Note
      and
      Pledge Agreement in excess of such Escrow Payment shall not become due and
      payable as of such date and shall continue to remain outstanding in accordance
      with the terms hereof. Each Escrow Payment shall become so due and payable
      without presentment, protest or other notice of any kind all of which are
      expressly waived by the Maker. The Maker assents to extensions of the time
      of
      payment, release, or forbearance or other indulgence, without notice. No delay
      on the part of the Holder in exercising any rights with respect hereto shall
      operate as a waiver of such rights. In the event that the Escrow Agent is
      directed or permitted to pay any amounts to the Maker pursuant to the Escrow
      Agreement, the outstanding principal balance of this Note and Pledge Agreement
      shall be reduced by such amount.

     

    The
      unpaid principal balance of this Note and Pledge Agreement and any accrued
      and
      unpaid interest hereunder may be paid by the Maker to the Escrow Agent at any
      time, in whole or in part, without premium or penalty. Any prepayments under
      this Note and Pledge Agreement shall first be applied to accrued and unpaid
      interest and then to the principal balance of this Note and Pledge Agreement.
      In
      addition, the Maker shall prepay to the Escrow Agent the unpaid principal amount
      of this Note and Pledge Agreement and interest accrued hereunder in an amount
      equal to the amount of the net proceeds received by the Maker from any financing
      transactions pursuant to the Private Placement which are consummated following
      the date hereof (after payment of any and all fees, expenses and commissions
      in
      connection with the Private Placement (including, without limitation, any legal
      and accounting fees and expenses incurred in connection therewith)), which
      amount shall be remitted by the Maker to the Holder promptly after the Maker’s
      receipt thereof. As used herein, the “Private Placement” shall mean the private
      offering by Parent of (a) units, each consisting of (i) shares of the Maker’s
      common stock, par value $0.00001 per share, (the “Common Stock”) and (ii)
      warrants to acquire shares of Common Stock, for minimum gross proceeds of
      $4,500,000 and maximum gross proceeds of $9,000,000, and (b) 14% senior secured
      notes in the principal amount of $8,000,000 (the “Senior Notes”). Promptly
      following any payment of any portion of the principal amount owed under this
      Note and Pledge Agreement to the Maker, or any prepayment described above,
      the
      number of Pledged Shares (as defined below) shall be reduced by the quotient
      of
      (a) the amount of such principal payment or prepayment and (b) $2.50 (rounded
      down to the next whole number), and shall promptly be returned by the Escrow
      Agent to the Maker.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    In
      the
      event of nonpayment, the Maker agrees that, in addition to all other remedies,
      it will pay all reasonable counsel fees incurred in connection with any lawsuit
      brought by the Holder for enforcement or collection of this Note and Pledge
      Agreement. 

     

    As
      collateral security for the prompt and complete payment and performance of
      the
      obligations of Maker hereunder when due, the Maker hereby pledges to the Holder
      for its benefit, and grants to the Holder for its benefit and the benefit of
      the
      Company Stockholders, a first priority security interest in and to one million
      (1,000,000) shares of Common Stock (the “Pledged Shares”), which shall be held
      by the Escrow Agent on behalf of the Holder pursuant to the Escrow
      Agreement..

     

    This
      Note
      and Pledge Agreement secures, and the Pledged Shares are security for, the
      indefeasible payment in full when due of the obligations of the Maker now or
      hereafter existing pursuant to this Note and Pledge Agreement (all such
      obligations of the Maker being the “Secured Obligations”). The Holder and the
      Escrow Agent acknowledge and agree (A) that the obligations evidenced by this
      Note and Pledge Agreement are subordinate in right of payment of all obligations
      (whether for principal, interest, fees, expenses or otherwise) under the Senior
      Notes and any guarantee issued by the Maker with respect to the obligations
      thereunder (the “Senior Indebtedness”), which shall be senior in right of
      payment to such obligations under this Note and Pledge Agreement, and (B) to
      execute such agreements and instruments in favor of the holder of any Senior
      Notes reasonably requested or required by such holder to effect such
      subordination on terms satisfactory to the holder of Senior Notes.
      Notwithstanding any other provision contained in this Note and Pledge Agreement,
      payments on account of principal of and interest on this Note may be made from
      time to time, subject to the specifications set forth below.

     

    In
      the
      event that any event of default under the terms of any Senior Indebtedness
      has
      occurred and is continuing, the holders of Senior Indebtedness shall be entitled
      to receive payment in full in cash of all principal of (and premium and fees,
      if
      any), and interest on, all Senior Indebtedness before the Holder is entitled
      to
      receive any payment on account of this Note and Pledge Agreement. The Holder
      shall be entitled to assume that no such event which would give rise to
      subordination under this Note and Pledge Agreement has occurred unless the
      Maker
      or any holder or holders of Senior Indebtedness or any trustee therefor shall
      have given written notice thereof to the Holder or the Holder has otherwise
      received notice of such event. Until the Holder is given the notice provided
      for
      in the immediately preceding sentence, the Maker shall be obligated to make
      payments hereunder when due.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    The
      Maker
      agrees that at any time and from time to time, at the expense of the Maker,
      the
      Maker will promptly execute and deliver all further instruments and documents,
      including, without limitation, UCC-1 Financing Statements, and take all further
      action that may be necessary or desirable, or that the Holder, in the exercise
      of his reasonable judgment may request, in order to perfect and protect any
      security interest granted or purported to be granted hereby or to enable the
      Holder to exercise and enforce its rights and remedies hereunder with respect
      to
      any Pledged Shares. 

     

    Unless
      and until an Event of Default (as defined below) hereunder shall have occurred,
      neither the Holder nor the Escrow Agent shall be entitled to exercise any voting
      and/or consensual rights and powers in respect of the Pledged Shares or to
      give
      consents, waivers or ratifications in respect thereof. 

    

    Simultaneously
      herewith, in exchange for $10.00 and other good and valuable consideration,
      the
      Maker has delivered to the Escrow Agent original stock certificate(s)
      representing the Pledged Shares, together with appropriate undated powers for
      such Pledged Shares duly executed in blank by the Maker. The Pledged Shares
      are
      duly authorized, validly issued, fully paid and non-assessable. The Holder
      and
      the Escrow Agent agree that they will not, without the prior written consent
      of
      the Maker, for so long as the Secured Obligations are outstanding (i) sell,
      assign or transfer or otherwise dispose of, or grant any option or warrant
      with
      respect to, any of the Pledged Shares, or (ii) create or permit to exist any
      mortgage, lien, pledge, attachment, levy, priority or other security interest
      or
      encumbrance of any kind upon or with respect to any of the Pledged Shares,
      except for the security interest under this Note and Pledge
      Agreement.

     

    Upon
      the
      occurrence and during the continuance of any Event of Default, the Holder shall
      have the right (in his sole and absolute discretion) to direct the Escrow Agent
      to transfer of the certificates representing Pledged Shares, endorsed or
      assigned in blank or in favor of the Company Stockholders, to the Company
      Stockholders, and shall have the right to exchange the certificates representing
      the Pledged Shares for certificates of smaller or larger denominations for
      any
      purpose consistent with the terms hereof. The number of Pledged Shares to be
      so
      transferred shall be no greater than the quotient of (a) the Default Amount
      (as
      defined below) and (b) $2.50. As used herein, an “Event of Default” shall mean
      the Maker’s failure make any payment of principal of, or interest on, the
      Secured Obligations when due, and any such unpaid amount is referred to as
      a
“Default Amount.” 

     

    
      This
        Note
        and Pledge Agreement shall terminate upon the performance or satisfaction
        of all
        Secured Obligations (as reduced by the amount of any payments hereunder to
        the
        Maker), at which time the Escrow Agent shall (i) retransfer and deliver to
        the
        Maker, or to such person or persons as the Maker shall designate, such of
        the
        Pledged Shares (if any) as shall not have been distributed pursuant to the
        terms
        hereof and shall still be held by the Escrow Agent hereunder, together with
        appropriate powers or instruments of transfer, (ii) promptly file any and
        all
        documents, including without limitation, UCC-3 Termination Statements, in
        all
        jurisdictions and offices as the Maker may reasonably request and (iii) take
        any
        other actions reasonably necessary in connection with the foregoing.

       

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    This
      Note
      and Pledge Agreement may not be changed or terminated, nor may any of its
      provisions be waived, except by an agreement in writing signed by the party
      against whom enforcement of such change or termination is sought. This Note
      and
      Pledge Agreement shall be governed by and construed in accordance with the
      laws
      of the State of New York, and shall be binding upon the successors and assigns
      of the Maker and inure to the benefit of the Holder, the Escrow Agent and their
      respective successors and assigns. Each of the parties hereto hereby irrevocably
      consents to the non-exclusive jurisdiction of the courts of the State of New
      York and the United States District Court for the Southern District of New
      York
      and waives trial by jury in any action or proceeding with respect to this
      Agreement. If any term or provision of this Note and Pledge Agreement shall
      be
      held invalid, illegal or unenforceable, the validity of all other terms and
      provisions hereof shall in no way be affected thereby.

     

    This
      Note
      and Pledge Agreement is the note referred to in, and is subject to the terms
      and
      conditions of, the Escrow Agreement.

     

    Notwithstanding
      anything to the contrary contained in this Note and Pledge Agreement, no legal
      representative, employee, officer, director or shareholder of the Maker, whether
      disclosed or undisclosed, shall have any personal liability for the payment
      of
      any sum of money which is or may be payable hereunder, including but not limited
      to, the repayment of the indebtedness evidenced hereby. If any Event of Default
      shall occur hereunder, the Holder shall proceed solely against the Maker and
      the
      Pledged Shares for payment of any sums of money under this Note and Pledge
      Agreement. The Holder shall not seek or claim recourse against any person or
      party hereinabove named or referred to as being exculpated from personal
      liability for any deficiency or any money judgment hereunder.

     

     

    
      	 	
              UNITED
                BENEFITS & PENSION SERVICES, INC.

            
	 	
              as
                Maker

            
	 	 
	 	
              By:

            	
              /s/
                Richard Stierwalt

            	 
	 	 	
              Name: Richard
                Stierwalt

            
	 	 	
              Title:
                President

            

    

     

    Acknowledged
      and Agreed:

     

    JPMORGAN
      CHASE BANK, N.A.,

    as
      Escrow
      Agent 

     

    
      	
              By:

            	
              /s/
                Debra A. DeMarco

            	 	
              /s/
                Tom Weston

            	 
	 	
              Name:
                Debra A. Demarco

            	
              Tom
                Weston

            
	 	
              Title:
                Vice President 

            	
              Stockholders
                Representative, as Holder

            

    

    

    
      
        
        

      

      
        4Unassociated Document

     

    Exhibit
      10.4

     

    SECURITIES
      PURCHASE AGREEMENT 

     

    This
      Securities Purchase Agreement (this “Agreement”)
      is
      dated as of November 30, 2007 between Associated
      Third Party Administrators,
      a
      California corporation whose principal place of business is located at 1640
      South Loop Road, Alameda, CA 94502 (“ATPA” or the “Company”),
      United Benefits & Pension Services, Inc. (solely with respect to Article 4)
      and each of the Purchaser(s) identified on the signature pages hereto (including
      their successors and assigns, the “Purchaser(s)”).

     

    WHEREAS,
      subject to the terms and conditions set forth in this Agreement and pursuant
      to
      Section 4(2) of the Securities Act of 1933, as amended (the “Securities
      Act”)
      and
      Rule 506 promulgated thereunder, the Company desires to issue and sell to each
      Purchaser, and each Purchaser, severally and not jointly, desires to purchase
      from the Company, securities of the Company as more fully described in this
      Agreement.

     

    NOW,
      THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement,
      and for other good and valuable consideration the receipt and adequacy of which
      are hereby acknowledged, the Company and each Purchaser, severally and not
      jointly, agrees as follows:

     

    ARTICLE
      I.

    DEFINITIONS

     

    1.1 Definitions.
      In
      addition to the terms defined elsewhere in this Agreement: (a) capitalized
      terms
      that are not otherwise defined herein have the meanings given to such terms
      in
      the Notes (as defined herein), and (b) the following terms have the meanings
      indicated in this Section 1.1:

     

    “Acquisition
      Agreement”
means
      the Agreement and Plan of Merger pursuant to which UBPS or a subsidiary thereof
      is acquiring all of the stock of the Company. 

     

    “Acquisition”
means
      the acquisition of ATPA by UBPS, pursuant to the Acquisition
      Agreement.

     

    “Action”
shall
      have the meaning ascribed to such term in Section 3.1(j).

     

    “Additional
      Notes”
means
      any notes issued to the Holders in payment of Interest.

     

    “Agent”
means
      CAMOFI Master LDC, in its capacity as agent of the Purchasers for the purposes
      of holding the Security Documents on their behalf as described in Section
      5.19.

     

    “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 under the Securities
      Act.
      With
      respect to a Purchaser, any investment fund or managed account that is managed
      on a discretionary basis by the same investment manager as any Purchaser will
      be
      deemed to be an Affiliate of such Purchaser.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Change
      of Control”
means
      the occurrence of any of (i) an acquisition after the date hereof by an
      individual or legal entity or “group” (as described in Rule 13d-5(b)(1)
      promulgated under the Exchange Act), other than a group including Richard
      Stierwalt, of effective control (whether through legal or beneficial ownership
      of capital stock of the Company, by contract or otherwise) of in excess of
      40%
      of the voting securities of the Company, or (ii) a replacement at one time
      or
      within a three year period of more than one-half of the members of the Company's
      board of directors which is not approved by a majority of those individuals
      who
      are members of the board of directors on the Closing Date (or by those
      individuals who are serving as members of the board of directors on any date
      whose nomination to the board of directors was approved by a majority of the
      members of the board of directors who are members on the Closing Date), or
      (iii)
      Richard Stierwalt shall no longer be employed by the Company or UBPS as Chief
      Executive Officer on a full time basis, or (iv) the execution by the Company
      of
      an agreement to which the Company is a party or by which it is bound, providing
      for any of the events set forth above in (i) or (ii).

     

    “Closing”
means
      the closing of the purchase and sale of the Securities pursuant to Section
      2.1.

     

    “Closing
      Date”
means
      the Business Day when all of the Transaction Documents have been executed and
      delivered by the applicable parties thereto, and all conditions precedent to
      (i)
      the Purchasers’ respective obligations to pay the Subscription Amount and (ii)
      the Company’s obligations to deliver the Securities have been satisfied or
      waived.

     

    “Commission”
means
      the Securities and Exchange Commission.

     

    “Common
      Stock”
means
      the common stock of UBPS, par value $.00001 per share, and any securities into
      which such common stock shall hereinafter have been reclassified.

     

    “Common
      Stock Equivalents”
means
      any securities of the Company or the Subsidiaries which would entitle the holder
      thereof to acquire at any time Common Stock, including without limitation,
      any
      debt, preferred stock, rights, options, warrants or other instrument that is
      at
      any time convertible into or exchangeable for, or otherwise entitles the holder
      thereof to receive, Common Stock.

     

    “Company
      Counsel”
means
      Katten Muchin Rosenman LLP.

     

    “Disclosure
      Schedules”
shall
      have the meaning ascribed to such term in Section 3.1 hereof.

     

    “Effective
      Date”
means
      the date that the initial Registration Statement filed by the Company pursuant
      to the Registration Rights Agreement is first declared effective by the
      Commission.

     

    “Eligible
      Market”
means
      the following markets or exchanges the Nasdaq SmallCap Market, the American
      Stock Exchange, the New York Stock Exchange, the Nasdaq National Market or
      the
      OTC Bulletin Board.

     

    “Equity
      Offering”
means
      the private offering by UBPS of units consisting of shares of Common Stock
      and
      warrants to acquire shares of Common Stock for minimum gross proceeds of
      $4,500,000 and maximum gross proceeds of $9,000,000.

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended, and the rules and regulations
      promulgated thereunder.

    
      
        
        

      

      
        -
          2
          -

        
          

        

      

      
        
        

      

    

    “Exempt
      Issuance”
means
      the issuance of (a) shares of Common Stock or options to employees, officers
      or
      directors of
      the
      Company or UBPS, not to exceed 25,000 shares or (b) options pursuant to any
      stock or option plan duly adopted by a majority of the members of the Board
      of
      Directors of the Company or UBPS prior to closing not to exceed 10% of the
      fully
      diluted shares and on terms approved by the Purchasers or (c) securities upon
      the exercise of any securities issued hereunder, or convertible securities,
      options or warrants issued and outstanding on the date of this Agreement,
      provided that such securities have not been amended since the date of this
      Agreement to increase the number of such securities or to decrease the exercise,
      exchange or conversion price of any such securities, or (d) shares of Common
      Stock issued to secure the senior subordinated promissory note issued in lieu
      of
      funding up to $2.5 million of the Escrow Amount or (e) the Performance Incentive
      Shares.

     

    “GAAP”
shall
      have the meaning ascribed to such term in Section 3.1(h) hereof.

     

    “Guarantee(s)”
means
      the Guarantee(s), dated the date hereof, among UBPS, each of the Subsidiaries
      (other than TBOL)and the Purchasers, in the form of Exhibit
      E
      attached
      hereto.

     

    “Issued
      Shares”
means
      collectively the shares of Common Stock to be issued by the UBPS and delivered
      to the Purchasers at the Closing in accordance with Section 2.2(a) hereof and
      as
      set forth on Schedule 3.1(g) attached hereto.

     

    “Liens”
means
      a
      lien, charge, security interest, encumbrance, right of first refusal, preemptive
      right or other restriction. 

     

    “Material
      Adverse Effect”
shall
      have the meaning assigned to such term in Section 3.1(b) hereof.

     

    “Material
      Permits”
shall
      have the meaning ascribed to such term in Section 3.1(m).

     

    “Notes”
means
      the Senior Secured Notes due, subject to the terms therein, May 30, 2011, issued
      by the Company to each of the Purchasers hereunder, in the form of Exhibit
      A
      and any
      Additional Notes issued to the Holders in payment of interest pursuant
      thereto.

     

    “Performance
      Incentive Shares” means
      up
      to a total of 417,362 shares of Common Stock to be issued to the President
      and
      Chief Executive Officer and the Chief Financial Officer of UBPS upon the Company
      achieving certain budgeted performance levels. 

     

    “Person”
means
      an individual or corporation, partnership, trust, incorporated or unincorporated
      association, joint venture, limited liability company, joint stock company,
      government (or an agency or subdivision thereof) or other entity of any
      kind.

     

    “Proceeding”
means
      an action, claim, suit, investigation or proceeding (including, without
      limitation, an investigation or partial proceeding, such as a deposition),
      whether commenced or threatened.

     

    “Registration
      Rights Agreement”
means
      the Registration Rights Agreement, dated the date hereof, among UBPS and the
      Purchasers, in the form of Exhibit
      C
      attached
      hereto.

     

    “Registration
      Statement”
means
      a
      registration statement meeting the requirements set forth in the Registration
      Rights Agreement and covering the resale of the Warrant Shares by any Purchaser
      as provided for in the Registration Rights Agreement.

    
      
        
        

      

      
        -
          3
          -

        
          

        

      

      
        
        

      

    

    “Required
      Approvals”
shall
      have the meaning ascribed to such term in Section 3.1(e).

     

    “Required
      Minimum”
means,
      as of any date, the maximum aggregate number of shares of Common Stock then
      issued or potentially issuable in the future pursuant to the Transaction
      Documents, including the Issued Shares and any Warrant Shares issuable upon
      exercise in full of all Warrants and ignoring any exercise limits set forth
      therein.

     

    “Rule
      144”
means
      Rule 144 promulgated by the Commission pursuant to the Securities Act, as such
      Rule may be amended from time to time, or any similar rule or regulation
      hereafter adopted by the Commission having substantially the same effect as
      such
      Rule.

     

    “Securities”
means
      the Notes, the Issued Shares, the Warrants and the Warrant Shares.

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended.

     

    “Security
      Agreement”
means
      the Security Agreement, dated the date hereof, between the Company, UBPS, the
      Subsidiaries (other than TBOL) and the Agent on behalf of the Purchasers, in
      the
      form of Exhibit
      D
      attached
      hereto.

     

    “Security
      Documents”
means
      the Security Agreement, the Guarantee(s) and any other documents and filings
      required thereunder in order to grant the Agent (on behalf of the Purchasers)
      a
      perfected security interest in all of the assets of UBPS and the Company,
      including all UCC-1 filing receipts and mortgages on the real
      property.

     

    “Subscription
      Amount”
means,
      as to any Purchaser, the aggregate amount to be paid for the Notes, the Issued
      Shares and Warrants purchased hereunder as specified below such Purchaser’s name
      on the signature page of this Agreement and next to the heading “Subscription
      Amount”, in United States Dollars and in immediately available
      funds.

     

    “Subsidiary”
means
      any subsidiary of the Company as set forth on Schedule
      3.1(a).

     

    “TBOL”
means
      Trust Benefits Online, LLC.

     

    “Trading
      Day”
means
      a
      day on which the Common Stock is traded on a Trading Market.

     

    “Trading
      Market”
means
      the following markets or exchanges on which the Common Stock is listed or quoted
      for trading on the date in question: the Nasdaq SmallCap Market, the American
      Stock Exchange, the New York Stock Exchange, the Nasdaq National Market or
      the
      OTC Bulletin Board.

     

    “Transaction
      Documents”
means
      this Agreement, the Notes, the Warrants, the Security Agreement, the
      Guarantee(s), the Registration Rights Agreement and any other documents or
      agreements executed in connection with the transactions contemplated
      hereunder.

     

    “UBPS”
means
      United Benefits & Pension Services, Inc., a Delaware corporation, and the
      company acquiring ATPA and the parent of the Company.

    
      
        
        

      

      
        -
          4
          -

        
          

        

      

      
        
        

      

    

    “VWAP”
means,
      for any date, the price determined by the first of the following clauses that
      applies: (a) if the Common Stock is then listed or quoted on a Trading Market,
      the daily volume weighted average price of the Common Stock for such date (or
      the nearest preceding date) on the primary Trading Market on which the Common
      Stock is then listed or quoted as reported by Bloomberg Financial L.P. (based
      on
      a Trading Day from 9:30 a.m. New York City Time to 4:02 p.m. New York City
      Time
      ) using the VAP function; (b) if the Common Stock is not then listed or quoted
      on the Trading Market and if prices for the Common Stock are then reported
      in
      the “Pink Sheets” published by the Pink Sheets, LLC (or a similar organization
      or agency succeeding to its functions of reporting prices), the most recent
      bid
      price per share of the Common Stock so reported; or (c) in all other cases,
      the
      fair market value of a share of Common Stock as determined by a nationally
      recognized-independent appraiser selected in good faith by Purchasers holding
      a
      majority of the principal amount of Notes then outstanding.

     

    “Warrants”
means
      the Common Stock purchase warrants, in the form of Exhibit
      B delivered
      to each Purchaser at the Closing in accordance with Section 2.2(a) hereof,
      which
      Warrants shall be exercisable immediately and have a term of exercise equal
      to
      five years.

     

    “Warrant
      Shares”
means
      the shares of Common Stock issuable upon exercise of the Warrants.

     

    ARTICLE
      II.

    PURCHASE
      AND SALE

     

    2.1 Closing.
      On the
      Closing Date, upon the terms and subject to the conditions set forth herein,
      concurrent with the execution and delivery of this Agreement by the parties
      hereto, the Company agrees to sell, and each of the Purchasers severally (and
      not jointly) agree to the principal amount of the Notes set forth as the
“Subscription Amount” on such Purchaser’s signature page to this Agreement (not
      to exceed $8,000,000 in the aggregate principal amount), secured by a first
      priority lien, more fully described in the Security Agreement, on all assets
      of
      the Company, UBPS and the Subsidiaries (other than TBOL), the Issued Shares
      and
      the Warrants, to be issued on a pro rata basis to each Purchaser based on such
      Purchaser’s Subscription Amount.

     

    At
      the
      Closing, each Purchaser shall deliver to the Company via wire transfer
      immediately available funds equal to its Subscription Amount and the Company
      shall deliver to each Purchaser its Note, Warrants and Issued Shares as
      determined pursuant to Section 2.2(a), and the other items set forth in Section
      2.2 issuable at the Closing. Upon satisfaction of the conditions set forth
      in
      Section 2.2, the Closing shall occur at the offices of the Company, or such
      other location as the parties shall mutually agree.

     

    2.2 Deliveries.

     

    
      	 	
              a)

            	
              On
                the Closing Date, the Company shall deliver to each Purchaser the
                following:

            

    

     

    
      
        	 	
                (i)

              	
                this
                  Agreement duly executed by the Company and UBPS;

              
	 	 	 
	 	
                (ii)

              	
                a
                  duly executed Note with a principal amount equal to such Purchaser’s
                  Subscription Amount, registered in the name of such
                  Purchaser;

              
	 	 	 
	 	
                (iii)

              	
                duly
                  executed Warrants registered in the name of each Purchaser to purchase
                  an
                  aggregate number of shares of Common Stock of the Company, as set
                  forth on
                  Schedule 3.1(g) attached hereto, with an exercise price per share
                  equal to
                  $.00001;

              
	 	 	 
	 	
                (iv)

              	
                the
                  Issued Shares registered in the name of each Purchaser;

              
	 	 	 
	 	
                (v)

              	
                the
                  Registration Rights Agreement duly executed by
                  UBPS;

              

      

       

      
        
          
          

        

        
          -
            5
            -

          
            

          

        

        
          
          

        

      

       

      
        	 	
                (vi)

              	
                the
                  Security Agreement, duly executed by the Company, UBPS and the
                  Subsidiaries, along with all the Security Documents;

              
	 	 	 
	 	
                (vii)

              	
                the
                  Guarantee(s), duly executed by UBPS and the Subsidiaries;
                  

              
	 	 	 
	 	
                (viii)

              	
                lock-up
                  agreements executed by all control shareholders and insiders, including
                  Richard Stierwalt, Thomas Mackell, the Company’s CFO and John
                  Sweeney;

              
	 	 	 
	 	
                (ix)

              	
                a
                  UCC-1 financing statement naming the Purchasers as secured parties
                  to be
                  filed simultaneously with the Closing; prior to the Closing the
                  Purchasers
                  shall have received evidence satisfactory to them that there are
                  no liens
                  on the assets of the Company and its Subsidiaries (other than TBOL);
                  

              
	 	 	 
	 	
                (x)

              	
                a
                  use of proceeds statement, duly executed by the chief executive
                  officer of
                  the Company, attesting to the use of proceeds from the issuance
                  of the
                  Notes; and

              
	 	 	 
	 	(xi) 	
                a
                  legal opinion of Company Counsel in the form of Exhibit
                  F.  

              

      

       

    

    
      	 	
              b)

            	
              On
                the Closing Date, each Purchaser shall deliver or cause to be delivered
                to
                the Company the following: 

            

    

     

    
      	 	
              (i)

            	
              this
                Agreement duly executed by such
                Purchaser;

            

    

     

    
      	 	
              (ii)

            	
              the
                Purchaser’s Subscription Amount by wire transfer to the account of the
                Company; 

            

    

     

    
      	 	
              (iii)

            	
              the
                Registration Rights Agreement duly executed by such Purchaser; and
                

            

    

     

    
      
        	 	
                (iv)

              	
                the
                  Security Agreement, duly executed by such
                  Purchaser.

              

      

       

    

    
      
        2.3
          Closing Conditions. 

      

    

     

    
      	 	
              a)

            	
              The
                obligations of the Company hereunder in connection with the Closing
                are
                subject to the following conditions being
                met:

            

    

     

    
      	 	
              (i)

            	
              the
                accuracy in all material respects when made and on the Closing Date
                of the
                representations and warranties of the Purchasers contained
                herein;

            

    

     

    
      	 	
              (ii)

            	
              all
                obligations, covenants and agreements of each Purchaser required
                to be
                performed at or prior to the Closing Date shall have been performed;
                and

            

    

     

    
      	 	
              (iii)

            	
              the
                delivery by each Purchaser of the items set forth in Section 2.2(b)
                of
                this Agreement.

            

    

     

    
      	 	
              b)

            	
              The
                respective obligations of each Purchaser hereunder in connection
                with the
                Closing are subject to the following conditions being
                met:

            

    

     

    
      
        
        

      

      
        -
          6
          -

        
          

        

      

      
        
        

      

    

    
      	 	
              (i)

            	
              the
                accuracy in all material respects when made and on the Closing Date
                of the
                representations and warranties of the Company contained
                herein;

            

    

     

    
      	 	
              (ii)

            	
              all
                obligations, covenants and agreements of the Company required to
                be
                performed at or prior to the Closing Date shall have been
                performed;

            

    

     

    
      	 	
              (iii)

            	
              such
                Purchaser shall be satisfied with the results of its due diligence
                investigation of the Company;

            

    

     

    
      	 	
              (iv)

            	
              such
                Purchaser shall be satisfied with the Company’s current and projected uses
                of cash;

            

    

     

    
      	 	
              (v)

            	
              such
                Purchaser shall be satisfied with the Acquisition and the Company’s and
                UBPS’ respective audited financial statements (to the extent available)
                and UBPS’s unaudited financial
                statements;

            

    

     

    
      	 	
              (vi)

            	
              such
                Purchaser shall be satisfied with the Company’s pro forma
                capitalization;

            

    

     

    
      	 	
              (vii)

            	
              such
                Purchaser shall be satisfied with the quality and amount of the
                collateral; 

            

    

     

    
      	 	
              (viii)

            	
              no
                statute, rule, regulation, executive order, decree, ruling or injunction
                shall have been enacted, entered, promulgated or endorsed by any
                court or
                governmental authority of competent jurisdiction that prohibits the
                consummation of any of the transactions contemplated by the Transaction
                Documents;

            

    

     

    
      	 	
              (ix)

            	
              The
                Company has obtained Board approval relating to the issuance of
                the
                Securities to the Purchasers under the Transaction
                Documents;

            

    

     

    
      	 	
              (x)

            	
              the
                delivery by the Company of the items set forth in Section 2.2(a)
                of this
                Agreement; 

            

    

     

    
      	 	
              (xi)

            	
              since
                the date of execution of this Agreement, no event or series of events
                shall have occurred that reasonably could be expected to have or
                result in
                a Material Adverse Effect with respect to the Company and its
                Subsidiaries; 

            

    

     

    
      	 	
              (xii)

            	
              no
                banking moratorium have been declared either by the United States
                or New
                York State authorities, no suspension of trading shall have been
                declared
                on the New York Stock Exchange or the NASDAQ Stock Market, nor shall
                there
                have occurred any material outbreak or escalation of hostilities
                or other
                national or international calamity of such magnitude in its effect
                on, or
                any material adverse change in, any financial markets which, in each
                case,
                in the reasonable judgment of such Purchaser, makes it impracticable
                or
                inadvisable to purchase the Notes at the
                Closing;

            

    

     

    
      	 	
              (xiii)

            	
              the
                Company’s pro-forma balance sheet shall contain at least $1.3 million in
                cash value of insurance policies and at least $650,000 in cash after
                satisfying in full all closing
                obligations;

            

    

     

    
      
        
        

      

      
        -
          7
          -

        
          

        

      

      
        
        

      

    

    
      	 	
              (xiv)

            	
              the
                Consolidated EBITDA of ATPA for the period April 30, 2007 to October
                31,
                2007 shall be at least $1.775 million.

            

    

     

    
      	 	
              (xv)

            	
              neither
                the Company nor any of its Subsidiaries shall have any outstanding
                indebtedness, other than (A) that in favor of the Purchasers pursuant
                to
                the Notes and (B) indebtedness set forth on Schedule 3.1(z) hereto;
                

            

    

     

    
      	 	
              (xvi)

            	
              the
                Company shall have sold (or shall sell TBOL by January 31,2008) TBOL
                on
                terms satisfactory to the Purchasers including having retained at
                least
                40% of the equity thereof and having no further liabilities or further
                funding obligation therewith; 

            

    

     

    
      	 	
              (xvii)

            	
              such
                Purchaser shall be satisfied with the four-year non-competition agreements
                with John Sweeney and the other shareholders of the Company entering
                into
                such agreements;

            

    

     

    
      	 	
              (xviii)

            	
              such
                Purchaser shall be satisfied with the two-year consulting agreement
                with
                John Sweeney and the two-year employment agreements with the employees
                of
                the Company entering into such
                agreements;

            

    

     

    
      	 	
              (xix)

            	
              such
                Purchaser shall be satisfied with the employment agreements and option
                plans of the principals of the Company and UBPS;
                and

            

    

     

    
      	 	
              (xx)

            	
              at
                least $4.5 million of additional equity shall have been contributed
                to the
                Company in the Equity Offering on terms satisfactory to the Purchasers,
                at
                least $750,000 shall be from the Company’s management team on terms and at
                times satisfactory to the
                Purchasers.

            

    

     

    ARTICLE
      III.

    REPRESENTATIONS
      AND WARRANTIES 

     

    3.1 Representations
      and Warranties of the Company.
      Except
      as set forth in the Disclosure
      Schedule
      which
      shall be deemed a part hereof, each of the Company and its Subsidiaries hereby
      makes the representations and warranties set forth below to each Purchaser.
      Additionally,
      all of the representations and warranties contained in the Acquisition Agreement
      are hereby incorporated by reference as if fully set forth herein

     

    (a) Subsidiaries.
      All of
      the direct and indirect subsidiaries of the Company are set forth in Schedule
      3.1 (a) of the Disclosure Schedule. The Company owns, directly or indirectly,
      all of the capital stock or other equity interests of each Subsidiary free
      and
      clear of any Liens, and all the issued and outstanding shares of capital stock
      of each Subsidiary are validly issued and are fully paid, non-assessable and
      free of preemptive and similar rights to subscribe for or purchase
      securities.

     

    
      
        
        

      

      
        -
          8
          -

        
          

        

      

      
        
        

      

    

    (b) Organization
      and Qualification.
      Each of
      the Company and the Subsidiaries is an entity duly incorporated or otherwise
      organized, validly existing and in good standing under the laws of the
      jurisdiction of its incorporation or organization (as applicable), with the
      requisite power and authority to own and use its properties and assets and
      to
      carry on its business as currently conducted. Neither the Company nor any
      Subsidiary is in violation or default of any of the provisions of its respective
      certificate or articles of incorporation, bylaws or other organizational or
      charter documents. Each of the Company and the Subsidiary is duly qualified
      to
      conduct 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
      have or reasonably be expected to result in (i) a material adverse effect on
      the
      legality, validity or enforceability of any Transaction Document, (ii) a
      material adverse effect on the results of operations, assets, business,
      prospects or financial condition of the Company and the Subsidiary, taken as
      a
      whole, or (iii) a material adverse effect on the Company’s ability to perform in
      any material respect on a timely basis its obligations under any Transaction
      Document (any of (i), (ii) or (iii), a “Material
      Adverse Effect”)
      and no
      Proceeding has been instituted in any such jurisdiction revoking, limiting
      or
      curtailing or seeking to revoke, limit or curtail such power and authority
      or
      qualification.

     

    (c) Authorization;
      Enforcement.
      The
      Company and each of its Subsidiaries have the requisite corporate power and
      authority to enter into and to consummate the transactions contemplated by
      each
      of the Transaction Documents and otherwise to carry out its respective
      obligations thereunder. The execution and delivery of each of the Transaction
      Documents by the Company and each of its Subsidiaries and the consummation
      by it
      of the transactions contemplated thereby have been duly authorized by all action
      on the part of the Company and each of its Subsidiaries and no further action
      is
      required by the Company and each of its Subsidiaries in connection therewith.
      Each Transaction Document has been (or upon delivery will have been) duly
      executed by the Company and each of its Subsidiaries and, when delivered in
      accordance with the terms hereof, will constitute the valid and binding
      obligation of the Company and each of its Subsidiaries enforceable against
      the
      Company and each of its Subsidiaries in accordance with its terms except (i)
      as
      limited by applicable bankruptcy, insolvency, reorganization, moratorium and
      other laws of general application affecting enforcement of creditors’ rights
      generally and (ii) as limited by laws relating to the availability of specific
      performance, injunctive relief or other equitable remedies.

     

    (d) No
      Conflicts.
      Except
      as set forth in Disclosure Schedule 3.1(d), the execution, delivery and
      performance of the Transaction Documents by the Company and each of its
      Subsidiaries and the consummation by the Company and each of its Subsidiaries
      of
      the other transactions contemplated thereby do not and will not: (i) conflict
      with or violate any provision of the Company’s or any Subsidiary’s certificate
      or articles of incorporation, bylaws or other organizational or charter
      documents, or (ii) conflict with, or constitute a default (or an event that
      with
      notice or lapse of time or both would become a default) under, result in the
      creation of any Lien (except pursuant to the Security Agreement dated on the
      date hereof) upon any of the properties or assets of the Company or any
      Subsidiary, or give to others any rights of termination, amendment, acceleration
      or cancellation (with or without notice, lapse of time or both) of, any
      agreement, credit facility, debt or other instrument (evidencing a Company
      or
      Subsidiary debt or otherwise) or other understanding to which the Company or
      any
      Subsidiary is a party or by which any property or asset of the Company or any
      Subsidiary is bound or affected, or (iii) conflict with or result in a violation
      of any law, rule, regulation, order, judgment, injunction, decree or other
      restriction of any court or governmental authority to which the Company or
      a
      Subsidiary is subject (including federal and state securities laws and
      regulations), or by which any property or asset of the Company or a Subsidiary
      is bound or affected; except in the case of each of clauses (ii) and (iii),
      such
      as could not, individually or in the aggregate, have or reasonably be expected
      to result in a Material Adverse Effect.

    
      
        
        

      

      
        -
          9
          -

        
          

        

      

      
        
        

      

    

    (e) Filings,
      Consents and Approvals.
      Except
      as set forth in the Disclosure Schedule 3.1(e), 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 court or other federal, state, local
      or other governmental authority or other Person in connection with the
      execution, delivery and performance by the Company of the Transaction
      Documents.

     

    (f) Issuance
      of the Securities.
      The
      Securities are duly authorized and, when issued and paid for in accordance
      with
      the applicable Transaction Documents, will be duly and validly issued, fully
      paid and nonassessable, free and clear of all Liens imposed by the Company
      other
      than restrictions on transfer provided for in the Transaction Documents. The
      Warrant Shares, when issued in accordance with the terms of the Transaction
      Documents, will be validly issued, fully paid and nonassessable, free and clear
      of all Liens imposed by the Company. The Company has reserved from its duly
      authorized capital stock a number of shares of Common Stock for issuance of
      the
      Warrant Shares at least equal to the Required Minimum on the date hereof. The
      Company has not, and to the knowledge of the Company, no Affiliate of the
      Company has sold, offered for sale or solicited offers to buy or otherwise
      negotiated in respect of any security (as defined in Section 2 of the Securities
      Act) that would be integrated with the offer or sale of the Securities in a
      manner that would require the registration under the Securities Act of the
      sale
      of the Securities to the Purchaser..

     

    (g) Capitalization.
      The pro
      forma capitalization of the Company is as set forth on Schedule 3.1(g). Other
      than as set forth on Schedule 3.1(g), the Company and the Subsidiaries have
      no
      indebtedness. Except as set forth on Schedule 3.1(g), the Company has not issued
      any capital stock since April 17, 2007. No Person has any right of first
      refusal, preemptive right, right of participation, or any similar right to
      participate in the transactions contemplated by the Transaction Documents.
      Except as set forth on Schedule 3.1(g), as a result of the purchase and sale
      of
      the Securities, there are no outstanding options, warrants, script rights to
      subscribe to, calls or commitments of any character whatsoever relating to,
      or
      securities, rights or obligations convertible into or exchangeable for, or
      giving any Person any right to subscribe for or acquire, any shares of Common
      Stock, or contracts, commitments, understandings or arrangements by which the
      Company or any Subsidiary is or may become bound to issue additional shares
      of
      Common Stock, or securities or rights convertible or exchangeable into shares
      of
      Common Stock. The issuance and sale of the Securities will not obligate the
      Company or any Subsidiary to issue shares of Common Stock or other securities
      to
      any Person (other than the Purchaser) other than pursuant to the terms of UBPS’s
      sale of Units in its Equity Offering and will not result in a right of any
      holder of the Company’s or any of its Subsidiaries’ securities to adjust the
      exercise, conversion, exchange or reset price under such securities. All of
      the
      outstanding shares of capital stock of the Company and its Subsidiaries are
      validly issued, fully paid and nonassessable, have been issued in compliance
      with all federal and state securities laws, and none of such outstanding shares
      was issued in violation of any preemptive rights or similar rights to subscribe
      for or purchase securities. No further approval or authorization of any
      stockholder, the Board of Directors of the Company or any of its Subsidiaries
      or
      others is required for the issuance and sale of the Securities. There are no
      stockholders agreements, voting agreements or other similar agreements with
      respect to the Company’s or any of its Subsidiaries’ capital stock to which the
      Company or any of its Subsidiaries is a party or, to the knowledge of the
      Company, between or among any of the Company’s stockholders or any stockholder
      of its Subsidiaries. The Company has no outstanding indebtedness except for
      the
      indebtedness described in Section 2.3(b)(xiv).

    
      
        
        

      

      
        -
          10
          -

        
          

        

      

      
        
        

      

    

    (h) Financial
      Statements.
      Except
      as set forth on Schedule 3.1(h), the financial statements of the Company and
      its
      Subsidiaries, have been prepared in accordance with United States generally
      accepted accounting principles applied on a consistent basis during the periods
      involved (“GAAP”),
      except as may be otherwise specified in such financial statements or the notes
      thereto and except that unaudited financial statements may not contain all
      footnotes required by GAAP, and fairly present in all material respects the
      financial position of the Company and its consolidated subsidiaries 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. 

     

    (i) Material
      Changes.
      Since
      the date of the latest audited or unaudited financial statements, (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) each of the Company
      and
      its Subsidiaries has not incurred any liabilities (contingent or otherwise)
      other than (A) trade payables and accrued expenses incurred in the ordinary
      course of business consistent with past practice; (B) liabilities to be assumed
      as a result of the acquisition of ATPA; (C) commitments to pay transaction
      costs
      to brokers, bankers, accountants, lawyers and other professionals advising
      the
      Company to all the transactions contemplated under this Agreement, and (D)
      liabilities not required to be reflected in the Company's financial statements
      pursuant to GAAP, (iii) each of the Company and its Subsidiaries has not altered
      its method of accounting, (iv) neither the Company nor any Subsidiary of the
      Company has declared or made any dividend or distribution of cash or other
      property to its stockholders or purchased, redeemed or made any agreements
      to
      purchase or redeem any shares of its capital stock and (v) other than as set
      forth on Schedule 3.1(i), each of the Company and its Subsidiaries has not
      issued any equity securities to any officer, director or Affiliate, except
      pursuant to existing Company stock option plans. 

     

    (j) Litigation.
      Other
      than as set forth in the Disclosure Schedule under the caption “Legal
      Proceedings,” there is no action, suit, inquiry, notice of violation, proceeding
      or investigation pending or, to the knowledge of the Company, threatened against
      or affecting the Company, any Subsidiary or any of their respective properties
      before or by any court, arbitrator, governmental or administrative agency or
      regulatory authority (federal, state, county, local or foreign) (collectively,
      an “Action”)
      which
      (i) adversely affects or challenges the legality, validity or enforceability
      of
      any of the Transaction Documents or the Securities or (ii) could, if there
      were
      an unfavorable decision, have or reasonably be expected to result in a Material
      Adverse Effect. Neither the Company nor any Subsidiary, nor any director or
      officer thereof, is or has been the subject of any Action involving a claim
      of
      violation, to the best of the Company’s knowledge, or liability under federal or
      state securities laws or a claim of breach of fiduciary duty. To the knowledge
      of the Company or any Subsidiary, there has not been and there is not pending
      or
      contemplated, any investigation by the Commission involving the Company or
      any
      Subsidiary or any current or former director or officer of the Company or any
      Subsidiary. 

     

    (k) Labor
      Relations.
      No
      material labor dispute exists or, to the knowledge of the Company or Subsidiary,
      is imminent with respect to any of the employees of the Company or any
      Subsidiary which could reasonably be expected to result in a Material Adverse
      Effect.

    
      
        
        

      

      
        -
          11
          -

        
          

        

      

      
        
        

      

    

    (l) Compliance,
      Material Contracts.
      Neither
      the Company nor any Subsidiary (i) is 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 by the Company or any Subsidiary under),
      nor has the Company or any Subsidiary received notice of a claim that it is
      in
      default under or that it is in violation of, any indenture, loan or credit
      agreement, services, marketing or processing 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) is in
      violation of any order of any court, arbitrator or governmental body, or (iii)
      is or has been in violation of any statute, rule or regulation of any
      governmental authority, including without limitation all foreign, federal,
      state
      and local laws applicable to its business except in each case as could not
      have
      a Material Adverse Effect. Schedule 3.1(l) contains a true, correct and complete
      list of all contracts which are material to the operation of the business of
      the
      Company or any Subsidiary (“Material
      Contracts”).
      Except as set forth on Schedule 3.1(l), each Material Contract is in full force
      and effect and is enforceable in accordance with its terms, and no material
      defaults enforceable against the Company or any Subsidiary exist thereunder.
      Neither the Company nor any Subsidiary has received notice from any party to
      any
      Material Contract stating that it intends to terminate or amend such
      contract.

     

    (m) Regulatory
      Permits and Licenses.
      The
      Company and the Subsidiaries possess all certificates, authorizations,
      memberships, sponsorships and permits issued by the appropriate federal, state,
      local or foreign regulatory authorities or other Person necessary to conduct
      their respective businesses and are in good standing under all such
      certificates, authorizations, memberships, sponsorship and permits, except
      where
      the failure to possess such permits could not have or reasonably be expected
      to
      result in a Material Adverse Effect (“Material
      Permits”),
      and
      neither the Company nor any Subsidiary has received any notice of proceedings
      relating to the revocation or modification of any Material Permit.

     

    (n) Title
      to Assets.
      The
      Company and the Subsidiaries have good and marketable title in fee simple to
      all
      real property owned by them that is material to the business of the Company
      and
      the Subsidiaries and good and marketable title in all personal property owned
      by
      them that is material to the business of the Company and the Subsidiaries,
      in
      each case free and clear of all Liens, except for Liens as do not materially
      affect the value of such property and do not materially interfere with the
      use
      made and proposed to be made of such property by the Company and the
      Subsidiaries and Liens for the payment of federal, state or other taxes, the
      payment of which is neither delinquent nor subject to penalties. Any real
      property and facilities held under lease by the Company and the Subsidiaries
      are
      held by them under valid, subsisting and enforceable leases of which the Company
      and the Subsidiaries are in compliance.

     

    (o) Intellectual
      Property.
      The
      Company and the Subsidiaries have, or have rights to use, all patents, patent
      applications, trademarks, trademark applications, service marks, trade names,
      copyrights, licenses and other similar rights necessary or material for use
      in
      connection with their respective businesses and which the failure to so have
      could have a Material Adverse Effect (collectively, the “Intellectual
      Property Rights”).
      Neither the Company nor any Subsidiary has received a written notice that the
      Intellectual Property Rights used by the Company or any Subsidiary 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 of
      others.

     

    (p) Insurance.
      The
      Company and the Subsidiaries are insured by insurers of recognized financial
      responsibility against such losses and risks and in such amounts as are prudent
      and customary in the businesses in which the Company and the Subsidiaries are
      engaged, at least equal to the aggregate Subscription Amount. The Company
      maintains a director’s and officer’s insurance policy in the amount of $8.0
      Million. To the best of the Company’s knowledge, such insurance contracts and
      policies are accurate and complete. Neither the Company nor any Subsidiary
      has
      any reason to believe that it will not be able to renew its existing insurance
      coverage as and when such coverage expires or to obtain similar coverage from
      similar insurers as may be necessary to continue its business without a
      significant increase in cost.

    
      
        
        

      

      
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    (q) Transactions
      With Affiliates and Employees.
      None of
      the officers or directors of the Company or any Subsidiary and, to the knowledge
      of the Company or any Subsidiary, none of the employees of the Company or any
      Subsidiary is presently a party to any transaction with the Company or any
      Subsidiary (other than for services as employees, officers and directors),
      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 or any Subsidiary,
      any entity in which any officer, director, or any such employee has a
      substantial interest or is an officer, director, trustee or partner, in each
      case in excess of $10,000 per year other than (i) for payment of salary or
      consulting fees for services rendered, (ii) reimbursement for expenses incurred
      on behalf of the Company or any Subsidiary and (iii) for other employee
      benefits, including stock option agreements under any stock option plan of
      the
      Company.

     

    (r) Reserved.
      

     

    (s) Certain
      Fees.
      Except
      as set forth on Schedule 3.1(s), no brokerage or finder’s fees or commissions
      are or will be payable by the Company to any broker, financial advisor or
      consultant, finder, placement agent, investment banker, bank or other Person
      with respect to the transactions contemplated by this Agreement. The Purchasers
      shall have no obligation with respect to any fees or with respect to any claims
      made by or on behalf of other Persons for fees of a type contemplated in this
      Section that may be due in connection with the transactions contemplated by
      this
      Agreement.

     

    (t) Private
      Placement.
      Assuming the accuracy of the Purchasers representations and warranties set
      forth
      in Section 3.2, no registration under the Securities Act is required for the
      offer and sale of the Securities by the Company to the Purchasers as
      contemplated hereby. 

     

    (u) Investment
      Company.
      The
      Company is not, and is not an Affiliate of, and immediately after receipt of
      payment for the Securities, will not be or be an Affiliate of, an “investment
      company” within the meaning of the Investment Company Act of 1940, as amended.
      The Company shall conduct its business in a manner so that it will not become
      subject to the Investment Company Act.

     

    (v) Registration
      Rights.
      Except
      as contemplated by the transactions hereunder or as set forth on Schedule
      3.1(v), no Person has any right to cause the Company to effect the registration
      under the Securities Act of any securities of the Company.

     

    (w) Reserved

     

    (x) Application
      of Takeover Protections.
      The
      Company and its Board of Directors have taken all necessary action, if any,
      in
      order to render inapplicable any control share acquisition, business
      combination, poison pill (including any distribution under a rights agreement)
      or other similar anti-takeover provision under the Company's Articles of
      Incorporation (or similar charter documents) or the laws of its state of
      incorporation that is or could become applicable to the Purchasers as a result
      of the Purchasers and the Company fulfilling their obligations or exercising
      their rights under the Transaction Documents, including without limitation
      as a
      result of the Company's issuance of the Securities and the Purchasers’ ownership
      of the Securities.

     

    
      
        
        

      

      
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    (y) Disclosure.
      The
      Company confirms that neither it nor any other Person acting on its behalf
      has
      provided any of the Purchasers or their agents or counsel with any information
      that constitutes or might constitute material, nonpublic information. The
      Company understands and confirms that each Purchaser will rely on the foregoing
      representations and covenants in effecting transactions in securities of the
      Company. All disclosure provided to the Purchasers regarding the Company, its
      Subsidiaries, its business and the transactions contemplated hereby, including
      the Disclosure Schedules to this Agreement, furnished by or on behalf of the
      Company with respect to the representations and warranties made herein are
      true
      and correct with respect to such representations and warranties 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 made therein, in light of the
      circumstances under which they were made, not misleading. The Company
      acknowledges and agrees that no Purchaser makes or has made any representations
      or warranties with respect to the transactions contemplated hereby other than
      those specifically set forth in Section 3.2 hereof.

     

    (z) No
      Integrated Offering.
      Assuming
      the accuracy of the Purchaser’s representations and warranties set forth in
      Section 3.2, and except for the transactions related to the Unit offering by
      UPBS of Common Stock and Warrants in a private placement offering, neither
      UBPS,
      the Company, nor any of its Subsidiaries or Affiliates, nor any Person acting
      on
      its or their behalf has, directly or indirectly, made any offers or sales of
      any
      security or solicited any offers to buy any security, under circumstances that
      would cause this offering of the Securities to be integrated with prior
      offerings by the Company or its Subsidiaries for purposes of the Securities
      Act
      or any applicable shareholder approval provisions..

     

    (aa) Solvency.
      For
      purposes of this representation, the term “Company” shall include all of its
      Subsidiaries. Based on the financial condition of the Company as of the Closing
      Date after giving effect to the receipt by the Company of the proceeds from
      the
      sale of the Securities hereunder and the application of the proceeds thereof,
      (i) the Company's fair saleable value of its assets exceeds the amount that
      will
      be required to be paid on or in respect of the Company's existing debts and
      other liabilities (including known contingent liabilities) as they mature;
      (ii)
      the Company's assets do not constitute unreasonably small capital to carry
      on
      its business for the current fiscal year as now conducted and as proposed to
      be
      conducted including its capital needs taking into account the particular capital
      requirements of the business conducted by the Company, and projected capital
      requirements and capital availability thereof; and (iii) the current cash flow
      of the Company, together with the proceeds the Company would receive, were
      it to
      liquidate all of its assets, after taking into account all anticipated uses
      of
      the cash, would be sufficient to pay all amounts on or in respect of its debt
      when such amounts are required to be paid. The Company does not intend to incur
      debts beyond its ability to pay such debts as they mature (taking into account
      the timing and amounts of cash to be payable on or in respect of its debt).
      The
      Company has no knowledge of any facts or circumstances which lead it to believe
      that it will file for reorganization or liquidation under the bankruptcy or
      reorganization laws of any jurisdiction within one year from the Closing Date.
      Schedule 3.1(z) sets forth all outstanding secured and unsecured Indebtedness
      of
      the Company, or for which the Company has commitments. For the purposes of
      this
      Agreement, “Indebtedness”
shall
      mean (a) any liabilities for borrowed money or amounts owed in excess of $50,000
      (other than trade accounts payable incurred in the ordinary course of business),
      (b) all guaranties, endorsements and other contingent obligations in respect
      of
      Indebtedness of others, whether or not the same are or should be reflected
      in
      the Company's balance sheet (or the notes thereto), except guaranties by
      endorsement of negotiable instruments for deposit or collection or similar
      transactions in the ordinary course of business; and (c) the present value
      of
      any lease payments
      in excess of $50,000 due under leases required to be capitalized in accordance
      with GAAP. Neither
      the Company nor any Subsidiary is in default with respect to any
      Indebtedness.

    
      
        
        

      

      
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    (bb) Environmental
      Matters.
      The
      Company and each its Subsidiaries (a) is in compliance in all material respects
      with any and all Environmental Laws (as herein defined), (b) has received all
      permits, licenses or other approvals required of it under applicable
      Environmental Laws to conduct its respective businesses and (c) is in compliance
      in all material respects with all terms and conditions of any such permit,
      license or approval. The term “Environmental
      Laws”
means
      all federal, state, local or foreign laws relating to pollution or protection
      of
      human health or the environment (including, without limitation, ambient air,
      surface water, groundwater, land surface or subsurface strata), including,
      without limitation, laws relating to emissions, discharges, releases or
      threatened releases of chemicals, pollutants, contaminants, or toxic or
      hazardous substances or wastes (collectively, “Hazardous
      Materials”)
      into
      the environment, or otherwise relating to the manufacture, processing,
      distribution, use, treatment, storage, disposal, transport or handling of
      Hazardous Materials, as well as all authorizations, codes, decrees, demands
      or
      demand letters, injunctions, judgments, licenses, notices or notice letters,
      orders, permits, plans or regulations issued, entered, promulgated or approved
      thereunder.

     

    (cc) Tax
      Status.
      Except
      for matters that would not, individually or in the aggregate, have or reasonably
      be expected to result in a Material Adverse Effect, except as disclosed in
      Schedule 3.1(cc), the Company and each Subsidiary has filed all necessary
      federal, state and foreign income and franchise tax returns and has paid or
      accrued all taxes shown as due thereon, and the Company has no knowledge of
      a
      tax deficiency which has been asserted or threatened against the Company or
      any
      Subsidiary.

     

    (dd) No
      General Solicitation.
      Neither
      UBPS, the Company nor any person acting on behalf of UBPS, the Company has
      offered or sold any of the Securities by any form of general solicitation or
      general advertising. The Company has offered the Securities for sale only to
      the
      Purchasers and certain other “accredited investors” within the meaning of Rule
      501 under the Securities Act.

     

    (ee) Foreign
      Corrupt Practices.
      For
      purposes of this representation, the term “Company” shall include all of its
      Subsidiaries. Neither the Company, nor to the knowledge of the Company, any
      agent or other person acting on behalf of the Company, has (i) directly or
      indirectly, used any corrupt funds for unlawful contributions, gifts,
      entertainment or other unlawful expenses related to foreign or domestic
      political activity, (ii) made any unlawful payment to foreign or domestic
      government officials or employees or to any foreign or domestic political
      parties or campaigns from corporate funds, (iii) failed to disclose fully any
      contribution made by the Company (or made by any person acting on its behalf
      of
      which the Company is aware) which is in violation of law, or (iv) violated
      in
      any material respect any provision of the Foreign Corrupt Practices Act of
      1977,
      as amended.

     

    (ff) Seniority.
      As of
      the Closing Date, no indebtedness, equity or other security of the Company
      is
      senior to, or pari
      passu
      with,
      the Notes in right of payment, whether with respect to interest or upon
      liquidation or dissolution, or otherwise, other than indebtedness in favor
      of
      the Purchasers pursuant to the Notes.

     

    (gg) No
      Disagreements with Accountants and Lawyers.
      There
      are no disagreements of any kind presently existing, or reasonably anticipated
      by the Company or any Subsidiary to arise, between the accountants and lawyers
      formerly or presently employed by the Company or any Subsidiary and the Company
      and each Subsidiary is current with respect to any fees owed to its accountants
      and lawyers. By making this representation, each of the Company and its
      Subsidiaries does not, in any manner, waive the attorney/client privilege or
      the
      confidentiality of the communications between the Company and its Subsidiaries
      and its lawyers.

    
      
        
        

      

      
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    (hh) Acknowledgment
      Regarding Purchaser’s Purchase of Securities.
      The
      Company acknowledges and agrees that each of the Purchasers is acting solely
      in
      the capacity of an arm's length purchaser with respect to the Transaction
      Documents and the transactions contemplated hereby. The Company further
      acknowledges that no Purchaser is acting as a financial advisor or fiduciary
      of
      the Company (or in any similar capacity) with respect to this Agreement and
      the
      transactions contemplated hereby and any advice given by any Purchaser or any
      of
      their respective representatives or agents in connection with this Agreement
      and
      the transactions contemplated hereby is merely incidental to the Purchaser’s
      purchase of the Securities. The Company further represents to the Purchasers
      that the Company’s decision to enter into this Agreement has been based solely
      on the independent evaluation of the transactions contemplated hereby by the
      Company and its representatives. The Company further acknowledges that in
      addition to purchasing Securities, the Purchasers or their affiliates may
      directly or indirectly own Common Stock and Warrants in UBPS and that such
      parties, exercising their rights hereunder may adversely impact their other
      holdings as well as the other equity holders in the Company.

     

    (ii) Accountants.
      The
      Company’s accountants are set forth on Schedule 3.1(ii) of the Disclosure
      Schedule. 

    

    (jj) Acknowledgement
      Regarding Purchasers’ Trading Activity.
      Anything
      in this Agreement or elsewhere herein to the contrary notwithstanding (except
      for Section 4.15 below), it is understood and acknowledged by the Company (i)
      that none of the Purchasers have been asked to agree, nor has any Purchaser
      agreed, to desist from purchasing or selling, long and/or short, securities
      of
      the Company, or “derivative” securities based on securities issued by the
      Company or to hold the Securities for any specified term; (ii) that future
      open
      market or other transactions by any Purchaser, including Short Sales, and
      specifically including, without limitation, Short Sales or “derivative”
transactions, after the closing of this or future private placement
      transactions, may negatively impact the market price of the Company’s
      publicly-traded securities; (iii) that each Purchaser shall not be deemed to
      have any affiliation with or control over any arm’s length counter-party in any
“derivative” transaction. The Company further understands and acknowledges that
      (a) one or more Purchasers may engage in hedging activities at various times
      during the period that the Securities are outstanding, including, without
      limitation, during the periods that the value of the Warrant Shares deliverable
      with respect to Securities are being determined and (b) such hedging activities
      (if any) could reduce the value of the existing stockholders' equity interests
      in the Company at and after the time that the hedging activities are being
      conducted. The Company acknowledges that such aforementioned hedging activities
      do not constitute a breach of any of the Transaction Documents.

     

    3.2 Representations
      and Warranties of the Purchasers.
      Each
      Purchaser hereby, for itself and for no other Purchaser, represents and warrants
      as of the date hereof and as of the Closing Date to the Company as
      follows:

     

    (a) Organization;
      Authority.
      Such
      Purchaser is an entity duly organized, validly existing and in good standing
      under the laws of the jurisdiction of its organization with full right,
      corporate or partnership power and authority to enter into and to consummate
      the
      transactions contemplated by the Transaction Documents and otherwise to carry
      out its obligations thereunder. The execution, delivery and performance by
      such
      Purchaser of the transactions contemplated by this Agreement have been duly
      authorized by all necessary corporate or similar action on the part of the
      Purchaser. Each Transaction Document to which it is a party has been duly
      executed by such Purchaser, and when delivered by such Purchaser in accordance
      with the terms hereof, will constitute the valid and legally binding obligation
      of such Purchaser, enforceable against it in accordance with its terms, except
      (i) as limited by general equitable principles and applicable bankruptcy,
      insolvency, reorganization, moratorium and other laws of general application
      affecting enforcement of creditors’ rights generally, (ii) as limited by laws
      relating to the availability of specific performance, injunctive relief or
      other
      equitable remedies and (iii) insofar as indemnification and contribution
      provisions may be limited by applicable law.

    
      
        
        

      

      
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    (b) Purchaser
      Representation.
      Such
      Purchaser understands that the Securities are “restricted securities” and have
      not been registered under the Securities Act or any applicable state securities
      law and is acquiring the Securities as principal for its own account and not
      with a view to or for distributing or reselling such Securities or any part
      thereof, has no present intention of distributing any of such Securities in
      violation of the Securities Act or any applicable securities laws and has no
      arrangement or understanding with any other persons regarding the distribution
      of such Securities (this representation and warranty not limiting the
      Purchaser’s right to sell the Securities pursuant to the Registration Statement
      or otherwise in compliance with applicable federal and state securities laws).
      Nothing contained herein shall be deemed a representation or warranty by such
      Purchaser to hold Securities for any period of time. 

     

    (c) Purchaser
      Status.
      At the
      time such Purchaser was offered the Securities, it was, and at the date hereof
      it is, and on each date on which it exercises any Warrants it will be either:
      (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3),
      (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional
      buyer” as defined in Rule 144A(a) under the Securities Act. 

     

    (d) Experience
      of the Purchaser.
      Such
      Purchaser, either alone or together with its representatives, has such
      knowledge, sophistication and experience in business and financial matters
      so as
      to be capable of evaluating the merits and risks of the prospective investment
      in the Securities, and has so evaluated the merits and risks of such investment.
      Such Purchaser is able to bear the economic risk of an investment in the
      Securities and, at the present time, is able to afford a complete loss of such
      investment.

     

    (e) General
      Solicitation.
      Such
      Purchaser is not purchasing the Securities as a result of any advertisement,
      article, notice or other communication regarding the Securities published in
      any
      newspaper, magazine or similar media or broadcast over television or radio
      or
      presented at any seminar or any other general solicitation or general
      advertisement.

     

    The
      Company acknowledges and agrees that the Purchasers do not make or have not
      made
      any representations or warranties with respect to the transactions contemplated
      hereby other than those specifically set forth in this Section
      3.2.

     

    ARTICLE
      IV.

    OTHER
      AGREEMENTS OF THE PARTIES

     

    4.1 Transfer
      Restrictions.

     

    (a) The
      Securities may only be disposed of in compliance with state and federal
      securities laws. In connection with any transfer of Securities other than
      pursuant to an effective registration statement or Rule 144, to UBPS or to
      an
      affiliate of a Purchaser or in connection with a pledge as contemplated in
      Section 4.1(b), UBPS may require the transferor thereof to provide to UBPS
      an
      opinion of counsel selected by the transferor and reasonably acceptable to
      UBPS,
      the form and substance of which opinion shall be reasonably satisfactory to
      UBPS, to the effect that such transfer does not require registration of such
      transferred Securities under the Securities Act. As a condition of transfer,
      any
      such transferee shall agree in writing to be bound by the terms of this
      Agreement and shall have the rights of a Purchaser under this Agreement and
      the
      Registration Rights Agreement.

    
      
        
        

      

      
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    (b) The
      Purchasers agree to the imprinting, so long as is required by this Section
      4.1(b), of a legend on any of the Securities in the following form:

     

    [NEITHER]
      THESE SECURITIES [NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE
      [EXERCISABLE] HAVE [NOT] BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
      COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN
      EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
      "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
      TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
      TO
      AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
      REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
      APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES AND THE SECURITIES ISSUABLE
      UPON EXERCISE OF THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA
      FIDE
      MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

     

    UBPS
      acknowledges and agrees that a Purchaser may from time to time pledge pursuant
      to a bona fide margin agreement with a registered broker-dealer or grant a
      security interest in some or all of the Securities to a financial institution
      that is an “accredited investor” as defined in Rule 501(a) under the Securities
      Act and who agrees to be bound by the provisions of this Agreement and the
      Registration Rights Agreement and, if required under the terms of such
      arrangement, the Purchasers may transfer pledged or secured Securities to the
      pledgees or secured parties. Such a pledge or transfer would not be subject
      to
      approval of UBPS and no legal opinion of legal counsel of the pledgee, secured
      party or pledgor shall be required in connection therewith. Further, no notice
      shall be required of such pledge. At the appropriate Purchaser’s expense, UBPS
      will execute and deliver such reasonable documentation as a pledgee or secured
      party of Securities may reasonably request in connection with a pledge or
      transfer of the Securities, including, if the Securities are subject to
      registration pursuant to the Registration Rights Agreement, the preparation
      and
      filing of any required prospectus supplement under Rule 424(b)(3) under the
      Securities Act or other applicable provision of the Securities Act to
      appropriately amend the list of Selling Stockholders thereunder.

     

    (c) Certificates
      evidencing the Issued Shares and Warrant Shares shall not contain any legend
      (including the legend set forth in Section 4.1(b) hereof): (i) while a
      registration statement (including the Registration Statement) covering the
      resale of such security is effective under the Securities Act, or (ii) following
      any sale of such Issued Shares or Warrant Shares pursuant to Rule 144, or (iii)
      if such Issued Shares or Warrant Shares are eligible for sale under Rule 144(k),
      or (iv) if such legend is not required under applicable requirements of the
      Securities Act (including judicial interpretations and pronouncements issued
      by
      the staff of the Commission). UBPS shall cause its counsel to issue a legal
      opinion to UBPS’ transfer agent promptly after the Effective Date if required by
      UBPS’ transfer agent to effect the removal of the legend hereunder. If all or
      any portion of a Warrant is exercised at a time when there is an effective
      registration statement to cover the resale of the Warrant Shares, or if such
      Warrant Shares may be sold under Rule 144(k) or if such legend is not otherwise
      required under applicable requirements of the Securities Act (including judicial
      interpretations thereof) then such Warrant Shares shall be issued free of all
      legends. UBPS agrees that following the Effective Date or at such time as such
      legend is no longer required under this Section 4.1(c), it will, no later than
      three Trading Days following the delivery by a Purchaser to UBPS or UBPS’
transfer agent of a certificate representing Issued Shares or Warrant Shares,
      as
      applicable, issued with a restrictive legend (such third Trading Day, the
“Legend
      Removal Date”),
      deliver or cause to be delivered to such Purchaser a certificate representing
      such shares that is free from all restrictive and other legends. UBPS may not
      make any notation on its records or give instructions to any transfer agent
      of
      UBPS that enlarge the restrictions on transfer set forth in this Section.
      Certificates for Warrant Shares or Issued Shares subject to the legend removal
      hereunder shall be transmitted by the transfer agent of UBPS to the Purchasers
      by crediting the account of the Purchaser’s prime broker with the Depository
      Trust Company.

    
      
        
        

      

      
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    (d) In
      addition to the Purchasers’ other available remedies, UBPS shall pay to each
      Purchaser, in cash, as partial liquidated damages and not as a penalty, for
      each
      $1,000 of Warrant Shares or Issued Shares (based on the VWAP of the Common
      Stock
      on the date such Securities are submitted to UBPS’ transfer agent) delivered for
      removal of the restrictive legend and subject to this Section 4.1(c), $10 per
      Trading Day (increasing to $20 per Trading Day 5 Trading Days after such damages
      have begun to accrue) for each Trading Day after the Legend Removal Date until
      such certificate is delivered without a legend. Nothing herein shall limit
      each
      Purchaser’s right to pursue actual damages for UBPS’ failure to deliver
      certificates representing any Securities as required by the Transaction
      Documents, and each Purchaser shall have the right to pursue all remedies
      available to it at law or in equity including, without limitation, a decree
      of
      specific performance and/or injunctive relief.

     

    (e) Each
      Purchaser, severally and not jointly with the other Purchasers, agrees that
      the
      removal of the restrictive legend from certificates representing Securities
      as
      set forth in this Section 4.1 is predicated upon UBPS’ reliance that such
      Purchaser will sell any Securities pursuant to either the registration
      requirements of the Securities Act, including any applicable prospectus delivery
      requirements, or an exemption therefrom.

     

    4.2 Acknowledgment
      of Dilution.
      UBPS
      acknowledges that the issuance of the Securities may result in dilution of
      the
      outstanding shares of Common Stock, which dilution may be substantial under
      certain market conditions. UBPS further acknowledges that its obligations under
      the Transaction Documents, including without limitation its obligation to issue
      the Warrant Shares pursuant to the Transaction Documents, are unconditional
      and
      absolute and not subject to any right of set off, counterclaim, delay or
      reduction, regardless of the effect of any such dilution or any claim UBPS
      may
      have against any Purchaser and regardless of the dilutive effect that such
      issuance may have on the ownership of the other stockholders of
      UBPS.

     

    4.3 Furnishing
      of Information.
      As long
      as any Purchaser owns Securities, UBPS covenants to timely file (or obtain
      extensions in respect thereof and file within the applicable grace period)
      all
      reports required to be filed by UBPS after the date hereof pursuant to the
      Exchange Act. As long as any Purchaser owns Securities, if UBPS is not required
      to file reports pursuant to the Exchange Act, it will prepare and furnish to
      such Purchaser and make publicly available in accordance with Rule 144(c) such
      information as is required for such Purchaser to sell the Securities under
      Rule
      144 so long as it is a public company. UBPS further covenants that it will
      take
      such further action as any holder of Securities may reasonably request, all
      to
      the extent required from time to time to enable such Person to sell such
      Securities without registration under the Securities Act within the limitation
      of the exemptions provided by Rule 144. 

    
      
        
        

      

      
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    4.4 Integration.
      UBPS
      shall not, and shall use its best efforts to ensure that no Affiliate of UBPS
      shall, sell, offer for sale or solicit offers to buy or otherwise negotiate
      in
      respect of any security (as defined in Section 2 of the Securities Act) that
      would be integrated with the offer or sale of the Securities in a manner that
      would require the registration under the Securities Act of the sale of the
      Securities to the Purchasers.

     

    4.5 Exercise
      Procedures.
      The
      form of Notice of Exercise included in the Warrants sets forth the totality
      of
      the procedures required of the Purchasers in order to exercise the Warrants.
      No
      additional legal opinion or other information or instructions shall be required
      of the Purchasers to exercise their Warrants. UBPS shall honor exercises of
      the
      Warrants and shall deliver Warrant Shares in accordance with the terms,
      conditions and time periods set forth in the Transaction Documents.

     

    4.6 Publicity.
      UBPS
      and the Purchasers shall consult with each other in issuing any other press
      releases with respect to the transactions contemplated hereby, and neither
      UBPS
      nor the Purchasers shall issue any such press release or otherwise make any
      such
      public statement without the prior consent of UBPS, with respect to any press
      release of the Purchasers, or without the prior consent of the Purchaser, with
      respect to any press release of UBPS, which consent shall not unreasonably
      be
      withheld, except if such disclosure is required by law, in which case the
      disclosing party shall promptly provide the other party with prior notice of
      such public statement or communication. Notwithstanding the foregoing, UBPS
      shall not publicly disclose the name of any Purchaser, or include the name
      of
      any Purchaser in any filing with the Commission or any regulatory agency or
      Trading Market, without the prior written consent of such Purchaser, except
      (i)
      as required by federal securities law and (ii) to the extent such disclosure
      is
      required by law or Trading Market regulations, in which case UBPS shall provide
      such Purchaser with prior notice of such disclosure permitted under subclause
      (i) or (ii).

     

    4.7 Shareholder
      Rights Plan.
      No
      claim will be made or enforced by UBPS or, to the knowledge of UBPS, any other
      Person that any Purchaser is an “Acquiring Person” under any shareholder rights
      plan or similar plan or arrangement in effect or hereafter adopted by UBPS,
      or
      that any Purchaser could be deemed to trigger the provisions of any such plan
      or
      arrangement, by virtue of receiving Securities under the Transaction Documents
      or under any other agreement between UBPS and any Purchaser. UBPS shall conduct
      its business in a manner so that it will not become subject to the Investment
      Company Act.

     

    4.8 Non-Public
      Information.
      UBPS
      covenants and agrees that neither it nor any other Person acting on its behalf
      will provide any Purchaser or its agents or counsel with any information that
      UBPS believes constitutes material non-public information, unless prior thereto
      such Purchaser shall have executed a written agreement regarding the
      confidentiality and use of such information. UBPS understands and confirms
      that
      such Purchaser shall be relying on the foregoing representations in effecting
      transactions in securities of UBPS.

     

    4.9 Use
      of
      Proceeds.
      UBPS
      shall use the net proceeds from the sale of the Securities hereunder and equity
      securities issued in the Equity Offering for the Acquisition, working capital
      and fees and expenses relating to the Acquisition. 

     

    4.10 Reimbursement.
      If any
      Purchaser becomes involved in any capacity in any Proceeding by or against
      any
      Person who is a stockholder of UBPS (except as a result of sales, pledges,
      margin sales and similar transactions by the Purchasers to or with any current
      stockholder), solely as a result of such Purchaser’s acquisition of the
      Securities under this Agreement, UBPS will reimburse such Purchaser for its
      reasonable legal and other expenses (including the cost of any investigation
      preparation and travel in connection therewith) incurred in connection
      therewith, as such expenses are incurred. The reimbursement obligations of
      UBPS
      under this paragraph shall be in addition to any liability which UBPS may
      otherwise have, shall extend upon the same terms and conditions to any
      Affiliates of such Purchaser who are actually named in such action, proceeding
      or investigation, and partners, directors, agents, employees and controlling
      persons (if any), as the case may be, of such Purchaser and any such Affiliate,
      and shall be binding upon and inure to the benefit of any successors, assigns,
      heirs and personal representatives of UBPS, such Purchaser and any such
      Affiliate and any such Person. UBPS also agrees that neither such Purchaser
      nor
      any such Affiliates, partners, directors, agents, employees or controlling
      persons shall have any liability to UBPS or any Person asserting claims on
      behalf of or in right of UBPS solely as a result of acquiring the Securities
      under this Agreement.

    
      
        
        

      

      
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    4.11 Indemnification
      of Purchasers.
      Subject
      to the provisions of this Section 4.11, UBPS will indemnify and hold each
      Purchaser and its directors, officers, shareholders, partners, employees and
      agents (and any other Persons with a functionally equivalent role of a Person
      holding such titles notwithstanding a lack of such title or any other title),
      each Person who controls such Purchaser (within the meaning of Section 15 of
      the
      Securities Act and Section 20 of the Exchange Act), and the directors, officers,
      shareholders, agents, members, partners or employees (and any other Persons
      with
      a functionally equivalent role of a Person holding such titles notwithstanding
      a
      lack of such title or any other title) of such controlling person (each, a
      “Purchaser
      Party”)
      harmless from any and all losses, liabilities, obligations, claims,
      contingencies, damages, costs and expenses, including all judgments, amounts
      paid in settlements, court costs and reasonable attorneys’ fees and costs of
      investigation that any Purchaser Party may suffer or incur as a result of,
      arising from, or relating to (a) any breach of any of the representations,
      warranties, covenants or agreements made by UBPS in this Agreement or in the
      other Transaction Documents (or any allegation by a third-party that, if true
      would constitute such a breach) or (b) any action instituted against a
      Purchaser, or any of them or their respective Affiliates, by any stockholder
      of
      UBPS who is not an Affiliate of such Purchaser, with respect to any of the
      transactions contemplated by the Transaction Documents (unless such action
      is
      based upon a breach of such Purchaser’s representation, warranties or covenants
      under the Transaction Documents or any agreements or understandings any
      Purchasers may have with any such stockholder or any violations by such
      Purchaser of state or federal securities laws or any conduct by such Purchaser
      which constitutes fraud, gross negligence or willful misconduct). If any action
      shall be brought against any Purchaser Party in respect of which indemnity
      may
      be sought pursuant to this Agreement, the Purchaser Party shall promptly notify
      UBPS in writing, and UBPS shall have the right to assume the defense thereof
      with counsel of its own choosing. Any Purchaser Party shall have the right
      to
      employ separate counsel in any such action and participate in the defense
      thereof, but the fees and expenses of such counsel shall be at the expense
      of
      the Purchaser Party except to the extent that (i) the employment thereof has
      been specifically authorized by UBPS in writing, (ii) UBPS has failed after
      a
      reasonable period of time to assume such defense and to employ counsel or (iii)
      in such action there is, in the reasonable opinion of such separate counsel,
      a
      material conflict on any material issue between the position of UBPS and the
      position of the Purchaser Party. UBPS will not be liable to any Purchaser Party
      under this Agreement (i) for any settlement by a Purchaser Party effected
      without UBPS’ prior written consent, which shall not be unreasonably withheld or
      delayed; or (ii) to the extent, but only to the extent that a loss, claim,
      damage or liability is attributable to any Purchaser Party’s breach of any of
      the representations, warranties, covenants or agreements made by the Purchasers
      in this Agreement or in the other Transaction Documents.

     

    4.12 Reservation
      and Listing of Securities.

     

    (a) UBPS
      shall maintain a reserve from its duly authorized shares of Common Stock for
      issuance pursuant to the Transaction Documents in such amount as may be required
      to fulfill its obligations in full under the Transaction
      Documents.

    
      
        
        

      

      
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    (b) If,
      on
      any date, the number of authorized but unissued (and otherwise unreserved)
      shares of Common Stock is less than the Required Minimum on such date, then
      the
      Board of Directors of UBPS shall use commercially reasonable efforts to amend
      UBPS’ certificate or articles of incorporation to increase the number of
      authorized but unissued shares of Common Stock to at least the Required Minimum
      at such time, as soon as possible and in any event not later than the 75th
      day
      after such date.

     

    (c) UBPS
      shall, if applicable: (i) in the time and manner required by the Trading Market,
      prepare and file with such Trading Market an additional shares listing
      application covering a number of shares of Common Stock at least equal to the
      Required Minimum on the date of such application, (ii) take all steps necessary
      to cause such shares of Common Stock to be approved for listing on the Trading
      Market as soon as possible thereafter, (iii) provide to the Purchasers evidence
      of such listing, and (iv) maintain the listing of such Common Stock on any
      date
      at least equal to the Required Minimum on such date on such Trading Market
      or
      another Trading Market. 

     

    4.13 Subsequent
      Equity Sales.
      In
      addition to the limitations set forth herein, from the date hereof until such
      time as no Purchaser holds any of the Securities, UBPS shall be prohibited
      from
      effecting or entering into an agreement to effect any Subsequent Financing
      involving a “Variable
      Rate Transaction”
or
      an
“MFN
      Transaction”
(each
      as defined below). The term “Variable
      Rate Transaction”
shall
      mean a transaction in which UBPS issues or sells (i) any debt or equity
      securities that are convertible into, exchangeable or exercisable for, or
      include the right to receive additional shares of Common Stock either (A) at
      a
      conversion, exercise or exchange rate or other price that is based upon and/or
      varies with the trading prices of or quotations for the shares of Common Stock
      at any time after the initial issuance of such debt or equity securities, or
      (B)
      with a conversion, exercise or exchange price that is subject to being reset
      at
      some future date after the initial issuance of such debt or equity security
      or
      upon the occurrence of specified or contingent events directly or indirectly
      related to the business of UBPS or the market for the Common Stock or (ii)
      enters into any agreements, including but not limited to an equity line of
      credit, whereby UBPS may sell securities at a future determined price tied
      to
      the market price of the Common Stock. The term “MFN
      Transaction”
shall
      mean a transaction in which UBPS issues or sells any securities in a capital
      raising transaction or series of related transactions which grants to an
      investor the right to receive additional shares based upon future transactions
      of UBPS on terms more favorable than those granted to such investor in such
      offering. Any Purchaser shall be entitled to obtain injunctive relief against
      UBPS to preclude any such issuance, which remedy shall be in addition to any
      right to collect damages. Notwithstanding the foregoing, this Section 4.13
      shall
      not apply in respect of an Exempt Issuance, except that no Variable Rate
      Transaction or MFN Transaction shall be an Exempt Issuance.

     

    4.14 Equal
      Treatment of Purchasers.
      No
      consideration shall be offered or paid to any Person to amend or consent to
      a
      waiver or modification of any provision of any of the Transaction Documents
      unless the same consideration is also offered to all of the parties to the
      Transaction Documents. Further, UBPS shall not make any payment of principal
      or
      interest on the Notes in amounts which are disproportionate to the respective
      principal amounts outstanding on the Notes at any applicable time. For
      clarification purposes, this provision constitutes a separate right granted
      to
      each Purchaser by UBPS and negotiated separately by each Purchaser, and is
      intended for UBPS to treat the Purchasers as a class and shall not in any way
      be
      construed as the Purchasers acting in concert or as a group with respect to
      the
      purchase, disposition or voting of Securities or otherwise.

     

    4.15 Investor
      Relations.
      Promptly after Closing, UBPS agrees to hire an investor relations firm
      satisfactory to the Purchasers.

     

    4.16 Form
      D; Blue Sky Filings.
      UBPS
      agrees to timely file a Form D with respect to the Securities as required under
      Regulation D and to provide a copy thereof, promptly upon request of any
      Purchaser. UBPS shall take such action as UBPS shall reasonably determine is
      necessary in order to obtain an exemption for, or to qualify the Securities
      for,
      sale to the Purchasers at the Closing under applicable securities or “Blue Sky”
laws of the states of the United States, and shall provide evidence of such
      actions promptly upon request of any Purchaser.

    
      
        
        

      

      
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    4.17Most
      Favored Nation Provision.
      Any
      time UBPS effects a subsequent financing, each Purchaser may elect, in its
      sole
      discretion, to exchange all or some of its Notes, Issued Shares and Warrants
      (treated for this purpose only as a unit) then held by it for the securities
      issued in a subsequent financing based on the then outstanding principal amount
      of the Note plus any other fees then owed by UBPS to the Purchaser, and the
      effective price at which such securities are sold in such subsequent
      financing.

     

    4.18 Additional
      Participation Right.
      For a
      period of three years after the Closing Date, each Purchaser shall have the
      right to participate in any debt or equity financing (up to 100% of the original
      principal amount of the Note) of UBPS on the same terms as those offered to
      such
      third party providing the financing (potentially to the exclusion of such third
      party). UBPS shall give the Purchasers at least ten (10) Business Days advance
      notice of such debt or equity financing, which notice shall set forth all of
      the
      material terms. The Purchasers shall have at least five (5) Business Days to
      inform UBPS of their intention to participate.

     

    4.19 Audit
      and Collateral Monitoring Fees.
      Representatives of the Purchasers may visit the Company or UBPS or conduct
      audits, inspections or field examinations of the Company or UBPS and valuations
      or appraisals of any or all of the collateral or business or enterprise
      valuations of the Company or UBPS at any time and from time to time in a
      reasonable manner so as not to unduly disrupt the business of the Company or
      UBPS. The Company and/or UBPS, as the case may be, agrees to pay (i) $1,500
      per
      day per examiner plus all of the examiner’s out of pocket costs and reasonable
      expenses incurred in connection with all such visits, audits, inspections,
      valuations and field examinations and (ii) the reasonable cost of all audits,
      appraisals and business valuations (including enterprise valuation appraisals)
      conducted by third party auditors or appraisers on behalf of the Purchasers;
      provided
      that so
      long as no Default or Event of Default has occurred and is continuing, neither
      the Company nor UBPS shall be obligated to pay for more than one such audit
      and
      field examination in any calendar year. 

     

    4.20 Board
      Composition. The
      Purchasers (i) shall have the right to designate one designee for election
      to
      the Board of Directors of UBPS (and every committee thereof) (the “Board
      Designee”) and (ii) shall have the right to designate one designee to attend all
      meetings of the Board of Directors of UBPS (and every committee thereof) as
      an
      observer (the “Board Observer”). If the Board Designee has been designated, he
      or she will be entitled to receive copies of all material distributed at all
      meetings of the Board of Directors of UBPS (and every committee thereof). Upon
      election of the Board Designee, UBPS will execute a customary form of
      indemnification agreement in favor of the Board Designee in his or her capacity
      as a director of UBPS. At all times during the tenure of the Board Designee,
      UBPS shall maintain a directors’ and officers’ liability insurance policy with
      coverage in a customary amount from financially sound and reputable insurers.
      UBPS shall pay to the Board Designee the same compensation for his or her
      services as a director of UBPS as the compensation, if any, paid to non-employee
      directors of UBPS.

     

    4.21 Control
      Agreements. Within
      60
      days of the Closing Date, the Company and UBPS shall enter into account control
      agreements in form and substance satisfactory to the Purchasers, duly executed
      by the applicable financial institution with respect to each deposit account
      and
      securities account maintained by the Company or UBPS. 

    
      
        
        

      

      
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    ARTICLE
      V.

    MISCELLANEOUS

     

    5.1 Termination.
      This
      Agreement may be terminated by any Purchaser, as to such Purchaser’s obligation
      hereunder only and without any effect whatsoever on the obligations between
      the
      Company and the other Purchasers, by written notice to the other parties, if
      the
      Closing has not been consummated on or before December 15, 2007; provided that
      no such termination will affect the right of any party to sue for any breach
      by
      the other party (or parties).

     

    5.2 Fees.
      At the
      Closing, the Company has agreed to (i) reimburse Centrecourt Asset Management
      LLC (“Centrecourt”)
      $40,000, for its legal fees and expenses of counsel (of which $15,000 has been
      previously paid), (ii) pay Centrecourt $25,000 for its due diligence
      investigation of the Company (all of which has been previously paid); and (iii)
      pay Centrecourt $280,000 as a structuring fee. Except as expressly set forth
      in
      the Transaction Documents to the contrary, each party shall pay the fees and
      expenses of its advisers, counsel, accountants and other experts, if any, and
      all other expenses incurred by such party incident to the negotiation,
      preparation, execution, delivery and performance of this Agreement. The Company
      shall pay all transfer agent fees, stamp taxes and other taxes and duties levied
      in connection with the issuance of any Securities.

     

    5.3 Entire
      Agreement.
      The
      Transaction Documents, together with the exhibits and schedules thereto, contain
      the entire understanding of the parties with respect to the subject matter
      hereof and supersede all prior agreements and understandings, oral or written,
      with respect to such matters, which the parties acknowledge have been merged
      into such documents, exhibits and schedules.

     

    5.4 Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earliest of (a) the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile number set forth on the signature
      pages attached hereto prior to 5:30 p.m. (New York City time) on a Business
      Day,
      (b) the next Business Day after the date of transmission, if such notice or
      communication is delivered via facsimile at the facsimile number set forth
      on
      the signature pages attached hereto on a day that is not a Business Day or
      later
      than 5:30 p.m. (New York City time) on any Business Day, (c) the second Business
      Day following the date of mailing, if sent by U.S. nationally recognized
      overnight courier service, or (d) upon actual receipt by the party to whom
      such
      notice is required to be given. The address for such notices and communications
      shall be as set forth on the signature pages attached hereto.

     

    5.5 Amendments;
      Waivers.
      No
      provision of this Agreement may be waived or amended except in a written
      instrument signed, in the case of amendments, by the Company and Purchasers
      holding 75% of the principal amount of Notes then outstanding, or, in the case
      of a waiver, by the party against whom enforcement of any such waiver is sought.
      No waiver of any default with respect to any provision, condition or requirement
      of this Agreement shall be deemed to be a continuing waiver in the future or
      a
      waiver of any subsequent default or a waiver of any other provision, condition
      or requirement hereof, nor shall any delay or omission of either party to
      exercise any right hereunder in any manner impair the exercise of any such
      right.

     

    5.6 Construction.
      The
      headings herein are for convenience only, do not constitute a part of this
      Agreement and shall not be deemed to limit or affect any of the provisions
      hereof. The language used in this Agreement will be deemed to be the language
      chosen by the parties to express their mutual intent, and no rules of strict
      construction will be applied against any party.

     

    5.7 Successors
      and Assigns.
      This
      Agreement shall be binding upon and inure to the benefit of the parties and
      their successors and permitted assigns. The Company may not assign this
      Agreement or any rights or obligations hereunder without the prior written
      consent of Purchasers holding 75% of the principal amount of Notes then
      outstanding. Any Purchaser may assign any or all of its rights under this
      Agreement to any Person to whom such Purchaser assigns or transfers any
      Securities, provided such transferee agrees in writing to be bound, with respect
      to the transferred Securities, by the provisions hereof that apply to such
      “Purchaser.”

    
      
        
        

      

      
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    5.8 No
      Third-Party Beneficiaries.
      This
      Agreement is intended for the benefit of the parties hereto and their respective
      successors and permitted assigns and is not for the benefit of, nor may any
      provision hereof be enforced by, any other Person, except as otherwise set
      forth
      in Section 4.11.

     

    5.9 Governing
      Law.
      All
      questions concerning the construction, validity, enforcement and interpretation
      of the Transaction Documents shall be governed by and construed and enforced
      in
      accordance with the internal laws of the State of New York, without regard
      to
      the principles of conflicts of law thereof. Each party agrees that all legal
      proceedings concerning the interpretations, enforcement and defense of the
      transactions contemplated by this Agreement and any other Transaction Documents
      (whether brought against a party hereto or its respective affiliates, directors,
      officers, shareholders, employees or agents) shall be commenced exclusively
      in
      the state and federal courts sitting in the City of New York. Each party hereby
      irrevocably submits to the exclusive jurisdiction of the state and federal
      courts sitting in the City of New York, borough of Manhattan for the
      adjudication of any dispute hereunder or in connection herewith or with any
      transaction contemplated hereby or discussed herein (including with respect
      to
      the enforcement of any of the Transaction Documents), and hereby irrevocably
      waives, and agrees not to assert in any suit, action or proceeding, any claim
      that it is not personally subject to the jurisdiction of any such court, that
      such suit, action or proceeding is improper or inconvenient venue for such
      proceeding. Each party hereby irrevocably waives personal service of process
      and
      consents to process being served in any such suit, action or proceeding by
      mailing a copy thereof via registered or certified mail or overnight delivery
      (with evidence of delivery) to such party at the address in effect for notices
      to it under this Agreement and agrees that such service shall constitute good
      and sufficient service of process and notice thereof. Nothing contained herein
      shall be deemed to limit in any way any right to serve process in any manner
      permitted by law. The parties hereby waive all rights to a trial by jury. If
      either party shall commence an action or proceeding to enforce any provisions
      of
      the Transaction Documents, then the prevailing party in such action or
      proceeding shall be reimbursed by the other party for its attorneys’ fees and
      other costs and expenses incurred with the investigation, preparation and
      prosecution of such action or proceeding.

     

    5.10 Survival.
      The
      representations and warranties contained herein shall survive the Closing,
      the
      delivery of the Securities and exercise of the Warrants, as applicable for
      the
      applicable statue of limitations.

     

    5.11 Execution.
      This
      Agreement may be executed in two or more counterparts, all of which when taken
      together shall be considered one and the same agreement and shall become
      effective when counterparts have been signed by each party and delivered to
      the
      other party, it being understood that both parties need not sign the same
      counterpart. In the event that any signature is delivered by facsimile
      transmission or by e-mail delivery of a “.pdf” format data file, such signature
      shall create a valid and binding obligation of the party executing (or on whose
      behalf such signature is executed) with the same force and effect as if such
      facsimile signature page or data file were an original thereof.

     

    5.12 Severability.
      If any
      provision of this Agreement is held to be invalid or unenforceable in any
      respect, the validity and enforceability of the remaining terms and provisions
      of this Agreement shall not in any way be affected or impaired thereby and
      the
      parties will attempt to agree upon a valid and enforceable provision that is
      a
      reasonable substitute therefor, and upon so agreeing, shall incorporate such
      substitute provision in this Agreement.

    
      
        
        

      

      
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    5.13 Rescission
      and Withdrawal Right.
      Notwithstanding anything to the contrary contained in (and without limiting
      any
      similar provisions of) the Transaction Documents, whenever any Purchaser
      exercises a right, election, demand or option under a Transaction Document
      and
      the Company does not timely perform its related obligations within the periods
      therein provided, then such Purchaser may rescind or withdraw, in its sole
      discretion from time to time upon written notice to the Company, any relevant
      notice, demand or election in whole or in part without prejudice to its future
      actions and rights; provided,
      however,
      in the
      case of a rescission of an exercise of a Warrant, the Purchasers shall be
      required to return any shares of Common Stock subject to any such rescinded
      exercise notice.

     

    5.14 Replacement
      of Securities.
      If any
      certificate or instrument evidencing any Securities is mutilated, lost, stolen
      or destroyed, the Company shall issue or cause to be issued in exchange and
      substitution for and upon cancellation thereof, or in lieu of and substitution
      therefor, a new certificate or instrument, but only upon receipt of evidence
      reasonably satisfactory to the Company of such loss, theft or destruction and
      customary and reasonable indemnity, if requested. The applicants for a new
      certificate or instrument under such circumstances shall also pay any reasonable
      third-party costs associated with the issuance of such replacement
      Securities.

     

    5.15 Remedies.
      In
      addition to being entitled to exercise all rights provided herein or granted
      by
      law, including recovery of damages, each of the Purchasers and the Company
      will
      be entitled to specific performance under the Transaction Documents. The parties
      agree that monetary damages may not be adequate compensation for any loss
      incurred by reason of any breach of obligations described in the foregoing
      sentence and hereby agrees to waive in any action for specific performance
      of
      any such obligation the defense that a remedy at law would be adequate.

     

    5.16 Payment
      Set Aside.
      To the
      extent that the Company makes a payment or payments to any Purchaser pursuant
      to
      any Transaction Document or a Purchaser enforces or exercises its rights
      thereunder, and such payment or payments or the proceeds of such enforcement
      or
      exercise or any part thereof are subsequently invalidated, declared to be
      fraudulent or preferential, set aside, recovered from, disgorged by or are
      required to be refunded, repaid or otherwise restored to the Company, a trustee,
      receiver or any other person under any law (including, without limitation,
      any
      bankruptcy law, state or federal law, common law or equitable cause of action),
      then to the extent of any such restoration the obligation or part thereof
      originally intended to be satisfied shall be revived and continued in full
      force
      and effect as if such payment had not been made or such enforcement or setoff
      had not occurred.

     

    5.17 Usury.
      To the
      extent it may lawfully do so, the Company hereby agrees not to insist upon
      or
      plead or in any manner whatsoever claim, and will resist any and all efforts
      to
      be compelled to take the benefit or advantage of, usury laws wherever enacted,
      now or at any time hereafter in force, in connection with any claim, action
      or
      proceeding that may be brought by any Purchaser in order to enforce any right
      or
      remedy under any Transaction Document. Notwithstanding any provision to the
      contrary contained in any Transaction Document, it is expressly agreed and
      provided that the total liability of the Company under the Transaction Documents
      for payments in the nature of interest shall not exceed the maximum lawful
      rate
      authorized under applicable law (the “Maximum
      Rate”),
      and,
      without limiting the foregoing, in no event shall any rate of interest or
      default interest, or both of them, when aggregated with any other sums in the
      nature of interest that the Company may be obligated to pay under the
      Transaction Documents exceed such Maximum Rate. It is agreed that if the maximum
      contract rate of interest allowed by law and applicable to the Transaction
      Documents is increased or decreased by statute or any official governmental
      action subsequent to the date hereof, the new maximum contract rate of interest
      allowed by law will be the Maximum Rate applicable to the Transaction Documents
      from the effective date forward, unless such application is precluded by
      applicable law. If under any circumstances whatsoever, interest in excess of
      the
      Maximum Rate is paid by the Company to any Purchaser with respect to
      indebtedness evidenced by the Transaction Documents, such excess shall be
      applied by the Purchasers to the unpaid principal balance of any such
      indebtedness or be refunded to the Company, the manner of handling such excess
      to be at the Purchasers’ election.

    
      
        
        

      

      
        -
          26
          -

        
          

        

      

      
        
        

      

    

    5.18 Liquidated
      Damages.
      The
      Company’s obligations to pay any partial liquidated damages or other amounts
      owing under the Transaction Documents is a continuing obligation of the Company
      and shall not terminate until all unpaid partial liquidated damages and other
      amounts have been paid notwithstanding the fact that the instrument or security
      pursuant to which such partial liquidated damages or other amounts are due
      and
      payable shall have been canceled.

     

    5.19 Agent

     

    (a)
      Authorization of Action. Each Purchaser hereby appoints and authorizes CAMOFI
      Master LDC (the “Agent”) to be its agent in its name and on its behalf and to
      exercise such rights or powers granted to the Agent or the Purchasers (i) under
      the Security Documents to the extent specifically provided therein and on the
      terms thereof, together with such rights, powers and discretions as are
      reasonably incidental thereto. As to any matters not expressly provided for
      by
      the Security Documents, the Agent shall not be required to exercise any
      discretion or take any action, but shall be required to act or to refrain from
      acting (and shall be fully protected in so acting or refraining from acting)
      upon the instructions of the Purchasers, and any action so taken or not so
      taken
      by the Agent shall be binding upon all Purchasers; provided, however, that
      the
      Agent shall not be required to take any action which exposes the Agent to
      liability in such capacity, which could result in the Agent incurring any costs
      and expenses or which is contrary to this Agreement or applicable
      law.

     

    (b)
      Indemnification. Each Purchaser hereby agrees to indemnify and hold harmless
      the
      Agent from and against any and all liabilities, obligations, damages, penalties,
      actions, judgments, suits, costs, expenses or disbursements of any kind or
      nature whatsoever which may be imposed on, incurred by, or asserted against
      the
      Agent (in its capacity as agent for the Purchasers) in any way relating to
      or
      arising out of the Security Documents or any action taken or admitted by the
      Agent under or in respect of the Security Documents; provided that no Purchaser
      shall be liable for any portion of such liabilities, obligations, damages,
      penalties, actions, judgments, suits, costs, expenses or disbursements resulting
      from the Agent’s gross negligence or willful misconduct. Without limiting the
      generality of the foregoing, each Purchaser agrees to reimburse the Agent
      promptly upon demand on a pro rata basis in accordance with the then outstanding
      indebtedness, liabilities and obligations owing to such Purchaser by the Company
      in respect of any out-of-pocket expenses (including counsel fees) incurred
      by
      the Agent in connection with the preservation of any rights of the Agent or
      the
      Purchasers under, the enforcement of, or legal advice in respect of the rights
      or responsibilities under, the Security Documents, to the extent that the Agent
      is not reimbursed for such expenses by the Company or its
      Subsidiaries.

     

    (c)
      Successor Agent. The Agent may, as hereinafter provided, resign at any time
      by
      giving not less than 30 days’ written notice thereof to the Purchasers and the
      Company. Upon any such resignation, the Purchasers shall have the right to
      appoint a successor Agent (the “Successor Agent”), which shall be a Purchaser
      and which shall be acceptable to the Company, acting reasonably. Upon the
      acceptance of any appointment as Agent hereunder by a Successor Agent, such
      Successor Agent shall thereupon succeed to and become vested with all the
      rights, powers, privileges and duties of the retiring Agent and the retiring
      Agent shall thereupon be discharged from its further duties and obligations
      as
      Agent under the Security Documents. After any retiring Agent’s resignation
      hereunder as Agent, the provisions of this Section 5.19 shall continue to inure
      to its benefit as to any actions taken or omitted to be taken by it while it
      was
      Agent under the Security Documents. Absent such a resignation by the Agent,
      the
      Agent’s appointment shall continue until revoked in writing by Purchasers
      holding 75% of the outstanding principal amount of the Notes, at which time
      such
      Purchasers shall appoint a new Agent.

    
      
        
        

      

      
        -
          27
          -

        
          

        

      

      
        
        

      

    

    (d)
      Taking and Enforcement of Remedies.

     

    (1) Each
      of
      the Purchasers hereby acknowledges that, to the extent permitted by applicable
      law, the remedies provided under the Security Documents to the Purchasers are
      for the benefit of the Purchasers collectively and acting together and not
      severally and further acknowledges that its rights under the Security Documents
      are to be exercised not severally, but collectively by the Agent upon the
      decision of the Purchasers; accordingly, notwithstanding any of the provisions
      contained in any of the Transaction Documents, each of the Purchasers hereby
      covenants and agrees that it shall not be entitled to take any action with
      respect to the Security Documents, including, without limitation, any
      acceleration of the indebtedness, liabilities or obligations of the Company
      or
      any of its Subsidiaries, but that any such action shall be taken only by the
      Agent with the prior written agreement of the Purchasers, provided that,
      notwithstanding the foregoing:

     

    (2) in
      the
      absence of instructions from the Purchasers and where in the sole opinion of
      the
      Agent the exigencies of the situation warrant such action, the Agent may without
      notice to or consent of the Purchasers take such action on behalf of the
      Purchasers as it deems appropriate or desirable in the interest of the
      Purchasers; and

     

    (3) the
      commencement of litigation before any court shall be made in the name of each
      Purchaser individually unless the laws of the jurisdiction of such court permit
      such litigation to be commenced in the name of the Agent on behalf of the
      Purchasers (whether pursuant to a specific power of attorney in favor of the
      Agent or otherwise) and the Agent agrees to commence such litigation in its
      name; provided, however, that no litigation shall be commenced in the name
      of
      any Purchaser without the prior written consent of such Purchaser;

     

    (4) each
      of
      the Purchasers hereby further covenants and agrees that upon any such written
      consent being given by the Purchasers, they shall co-operate fully with the
      Agent to the extent requested by the Agent in the collective realization,
      including, without limitation, the appointment of a receiver and manager to
      act
      for their collective benefit; and each Purchaser covenants and agrees to do
      all
      acts and things to make, execute and deliver all agreements and other
      instruments, including, without limitation, any instruments necessary to effect
      any registrations, so as to fully carry out the intent and purpose of this
      Section 5.19; and each of the Purchasers hereby covenants and agrees that it
      has
      not heretofore and shall not seek, take, accept or receive any security for
      any
      of the obligations and liabilities of the Company under the Transaction
      Documents or under any other document, instrument, writing or agreement
      ancillary thereto other than such security as is provided hereunder and shall
      not enter into any agreement with the Company or any of its Subsidiaries
      relating in any manner whatsoever to the transactions contemplated hereunder,
      unless all of the Purchasers shall at the same time obtain the benefit of any
      such security or agreement, as the case may be.

     

    (5) Notwithstanding
      any other provision contained in the Transaction Documents, no Purchaser shall
      be required to be joined as a party to any litigation commenced against the
      Company or any of its Subsidiaries by the Agent under the Transaction Documents
      (unless otherwise required by any court of competent jurisdiction) if it elects
      not to be so joined in which event any such litigation shall not include claims
      in respect of the rights of such Purchaser against the Company or any of its
      Subsidiaries under the Transaction Documents until such time as such Purchaser
      does elect to be so joined; provided that if at the time of such subsequent
      election it is not possible or practicable for such Purchaser to be so joined,
      then such Purchaser may commence proceedings in its own name in respect of
      its
      rights against the Company or any of its Subsidiaries. 

    
      
        
        

      

      
        -
          28
          -

        
          

        

      

      
        
        

      

    

    5.20 Independent
      Nature of Purchasers’ Obligations and Rights.
      The
      obligations of each Purchaser under any Transaction Document are several and
      not
      joint with the obligations of any other Purchaser, and no Purchaser shall be
      responsible in any way for the performance or non-performance of the obligations
      of any other Purchaser under any Transaction Document. Nothing contained herein
      or in any other Transaction Document, and no action taken by any Purchaser
      pursuant thereto, shall be deemed to constitute the Purchasers as a partnership,
      an association, a joint venture or any other kind of entity, or create a
      presumption that the Purchasers are in any way acting in concert or as a group
      with respect to such obligations or the transactions contemplated by the
      Transaction Documents. Each Purchaser shall be entitled to independently protect
      and enforce its rights, including without limitation the rights arising out
      of
      this Agreement or out of the other Transaction Documents, and it shall not
      be
      necessary for any other Purchaser to be joined as an additional party in any
      proceeding for such purpose. Each Purchaser has been represented by its own
      separate legal counsel in their review and negotiation of the Transaction
      Documents. The Company has elected to provide all Purchasers with the same
      terms
      and Transaction Documents for the convenience of the Company and not because
      it
      was required or requested to do so by the Purchasers.

     

    
      
        
        

      

      
        -
          29
          -

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Securities Purchase
      Agreement to be duly executed by their respective authorized signatories as
      of
      the date first indicated above.

     

    
      	
              ASSOCIATED
                THIRD PARTY ADMINISTRATORS 

            	
              Address
                for Notice:

            

    

     

    

      
        	
                By:

              	
                /s/
                  Richard Stierwalt 
                  

                

              	
                Telephone:

              
	
                Name:
                  Richard Stierwalt

              	
                
                  Facsimile:

                

              
	
                Title:
                  Chief Executive Officer

              	
                 

              
	 
	
                UNITED
                  BENEFITS & PENSION SERVICES, INC.

              
	
                (with
                  respect to Article 4 only)

              
	 
	 
	
                By:

              	
                /s/
                  Richard Stierwalt 
                  

                

              
	
                Name:
                  Richard Stierwalt

              
	
                Title:
                  Chief Executive Officer

              

      

    

    

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK

    SIGNATURE
      PAGE FOR PURCHASER FOLLOWS]

    
      
        
        

      

      
        -
          30
          -

        
          

        

      

      
        
        

      

    

    [PURCHASER
      SIGNATURE PAGES TO ATPA PURCHASE AGREEMENT]

    

    IN
      WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement
      to be duly executed by their respective authorized signatories as of the date
      first indicated above.

     

    Name
      of
      Investing Entity: CAMOFI
      Master LDC____________________________________________

    Signature
      of Authorized Signatory of Investing Entity:
      /s/
      Richard Smithline_______________________

    Name
      of
      Authorized Signatory: Richard
      Smithline___________________________________________

    Title
      of
      Authorized Signatory: Director____________________________________________________

    Email
      Address of Authorized Entity:
      ________________________________________________

    

    Address
      for Notice of Investing Entity:

    CAMOFI
      Master LDC

    c/o
      Centrecourt Asset Management LLC

    350
      Madison Avenue, 8th
      Floor

    New
      York,
      New York 10017

    

    

    Address
      for Delivery of Securities for Investing Entity (if not same as
      above):

    

    

    Subscription
      Amount: $7,250,000

    Warrant
      Shares: 2,494,521

    Issued
      Shares:

    EIN
      Number: [PROVIDE
      THIS UNDER SEPARATE COVER]

    

    [SIGNATURE
      PAGES CONTINUE]

    
      
        
        

      

      
        -
          31
          -

        
          

        

      

      
        
        

      

    

    

    [PURCHASER
      SIGNATURE PAGES TO ATPA PURCHASE AGREEMENT]

    

    IN
      WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement
      to be duly executed by their respective authorized signatories as of the date
      first indicated above.

     

    Name
      of
      Investing Entity: CAMHZN
      Master LDC____________________________________________

    Signature
      of Authorized Signatory of Investing Entity:
      /s/
      Richard Smithline________________________

    Name
      of
      Authorized Signatory: Richard
      Smithline___________________________________________

    Title
      of
      Authorized Signatory: Director____________________________________________________

    Email
      Address of Authorized Entity:
      ________________________________________________

    

    Address
      for Notice of Investing Entity:

    CAMHZN
      Master LDC

    c/o
      Centrecourt Asset Management LLC

    350
      Madison Avenue, 8th
      Floor

    New
      York,
      New York 10017

    

    

    Address
      for Delivery of Securities for Investing Entity (if not same as
      above):

    

    

    Subscription
      Amount: $750,000

    Warrant
      Shares: 258,054

    Issued
      Shares:

    EIN
      Number: [PROVIDE
      THIS UNDER SEPARATE COVER]

    

    [SIGNATURE
      PAGES CONTINUE]

    
      
        
        

      

      
        -
          32
          -

        
          

        

      

      
        
        

      

    

     

    DISCLOSURE
      SCHEDULE

    

    This
      constitutes the Disclosure Schedule (the “Disclosure
      Schedule”)
      referred to in, delivered concurrently with, and made a part of the Securities
      Purchase Agreement (the “Agreement”),
      dated
      as of November 30, 2007, by and among Associated Third Party Administrators,
      a
      California corporation (the “Company”),
      United Benfits & Pension Services, Inc., a Delaware corporation (the
“UBPS”)
      and
      each of the Purchaser(s) identified on the signature pages thereto (the
“Purchasers”).
      

     

    This
      Disclosure Schedule is subject to the following general terms:

     

    
      	 	
              1.

            	
              Capitalized
                terms used in this Disclosure Schedule have the meaning ascribed
                to them
                in the Agreement unless otherwise defined
                herein.

            

    

     

    
      	 	
              2.

            	
              For
                purposes of this Disclosure Schedule, any information, item, or other
                disclosure set forth in any portion hereof shall be deemed, to the
                extent
                applicable, to have been set forth in all other applicable provisions
                without need for additional cross-referencing to the extent the matters
                to
                be excepted from such other provisions is apparent from the text
                of the
                disclosure.

            

    

     

    
      	 	
              3.

            	
              No
                disclosure of any matter contained in this Disclosure Schedule shall
                create an implication that such matter meets any standard of materiality,
                shall be used as a basis for interpreting the term “material”,
                “materially” or “materiality” in the Agreement or that such information is
                or is not required to be disclosed in or by the
                Agreement.

            

    

     

    
      	 	
              4.

            	
              The
                headings contained in this Disclosure Schedule are for reference
                purposes
                only and shall not affect in any way the meaning or interpretation
                of any
                disclosure herein or be deemed to alter or affect the express description
                of the Section of this Disclosure Schedule as set forth in the
                Agreement.

            

    

     

    
      	 	
              5.

            	
              Any
                disclosures in this Disclosure Schedule that refer to a document
                are
                qualified in their entirety by reference to the text of such
                document.

            

    

     

    
      	 	
              6.

            	
              Any
                information or the dollar thresholds set forth in this Disclosure
                Schedule
                shall not be used as a basis for interpreting “Material Adverse Effect” or
                other similar terms in this Agreement, except as expressly set forth
                in
                this Disclosure Schedule.

            

    

     

    
      	 	
              7.

            	
              Disclosure
                of any matter in this Disclosure Schedule shall not constitute an
                addendum
                or raise any inference that such matter constitutes a violation of
                law or
                an admission of any liability, violation or breach of contract or
                facts
                supporting any liability, violation or breach of
                contract.

            

    

     

    
      
        
        

      

      
        -
          33
          -

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      3.1(a)

     

    Subsidiaries

     

    1.
       Trust
      Benefits On Line, LLC, a Delaware limited liability company, is a wholly-owned
      subsidiary of the Company.

    
      
        
        

      

      
        -
          34
          -

        
          

        

      

      
        
        

      

    

    SCHEDULE
      3.1(d)

     

    Conflicts

     

    No
      Disclosure

    
      
        
        

      

      
        -
          35
          -

        
          

        

      

      
        
        

      

    

    SCHEDULE
      3.1(e)

     

    Filings,
      Consents and Approvals

     

    1.
       Filings
      required under the Securities Act of 1933, as amended, together with the rules
      and regulations promulgated thereunder.

     

    2.
       Filings
      required by the “blue sky” laws of any state in which the Securities are offered
      or sold.

    
      
        
        

      

      
        -
          36
          -

        
          

        

      

      
        
        

      

    

     

    

      SCHEDULE
        3.1(g)

       

      Capitalization

       

      1.
         Equity
        Ownership 

       

      The
        following table shows the actual and fully diluted equity ownership of the
        UBPS
        Common Stock after giving effect to the completion of (i) the Equity Offering,
        (ii) the acquisition by UBPS of the Company, (iii) the offering contemplated
        by
        this Agreement, and (iv) the conversion of the Secured Convertible Notes
        Due
        November 30, 2007 issued by UBPS (the “Bridge Notes”) into UBPS Common Stock.

       

      

      
        	 	 	
                Shares
                  Owned if Minimum Amount is Sold

              	 	
                Shares
                  Owned if Maximum Amount is Sold

              	 
	 	 	
                Actual
                  

              	 	
                Fully
                  Diluted 

              	 	
                Actual
                  

              	 	
                Fully
                  Diluted

              	 
	 	 	
                Amount%

              	 	 	 	
                Amount%

              	 	 	 	
                Amount%

              	 	 	 	
                Amount%

              	 	 	 
	
                Investors
                  in this Offering(1):

                Shares

                Warrant
                  Shares(2)

                 

              	 	 	
                
                

                1,800,000

              	 	 	
                
                

                55.8

              	
                
                

                %

              	 	
                
                

                1,800,000

                900,000

              	 	 	
                
                

                25.6

                12.8

              	
                
                

                %

                %

              	 	
                
                

                3,600,000

                
                

              	 	 	
                
                

                
                

                71.6

                
                

              	
                
                

                
                

                %

                
                

              	 	
                
                

                
                

                3,600,000

                1,800,000

              	 	 	
                
                

                36.4

                18.2

              	
                
                

                %

                %

              
	
                Investors
                  in the Debt Offering:

                Warrant
                  Shares(3)

              	 	 	 	 	 	 	 	 	
                
                

                
                

                2,752,575

              	 	 	
                
                

                
                

                39.1

              	
                
                

                
                

                %

              	 	 	 	 	 	 	 	
                
                

                2,752,575

              	 	 	
                
                

                27.8

              	
                
                

                %

              
	
                Bridge
                  Lenders(4)

              	 	 	
                232,000

              	 	 	
                7.2

              	
                %

              	 	
                232,000

              	 	 	
                3.3

              	
                %

              	 	
                232,000

              	 	 	
                4.7

              	
                %

              	 	
                232,000

              	 	 	
                2.3

              	
                %

              
	
                ATPA
                  Stockholders(5)(6)(7)

              	 	 	
                600,000

              	 	 	
                18.6

              	
                %

              	 	
                600,000

              	 	 	
                8.5

              	
                %

              	 	
                600,000

              	 	 	
                11.9

              	
                %

              	 	
                600,000

              	 	 	
                6.1

              	
                %

              
	
                Executive
                  Management of UBPS(6)(8)(9)(10)

              	 	 	
                592,503

              	 	 	
                18.4

              	
                %

              	 	
                592,503

              	 	 	
                8.4

              	
                %

              	 	
                592,503

              	 	 	
                11.8

              	
                %

              	 	
                592,503

              	 	 	
                6.0

              	
                %

              
	
                Placement
                  Agent Warrants(11)

              	 	 	 	 	 	 	 	 	
                
                

                162,000

              	 	 	
                
                

                2.3

              	
                
                

                %

              	 	 	 	 	 	 	 	
                
                

                324,000

              	 	 	
                
                

                3.3

              	
                
                

                %

              
	
                Total

              	 	 	
                3,224,503

              	 	 	
                100

              	
                %

              	 	
                7,039,078

              	 	 	
                100

              	
                %

              	 	
                5,024,503

              	 	 	
                100

              	
                %

              	 	
                9,901,078

              	 	 	
                100

              	
                %

              

      

      

      
        	
                ____________________

              
	
                (1)

              	
                Includes
                  up to 24 Units that may be purchased in the Offering by directors,
                  officers and employees of UBPS.

              
	
                (2)

              	
                Shares
                  issuable upon exercise of the UBPS Warrants included in the Units
                  at an
                  exercise price of $.00001 per share.

              
	
                (3)

              	
                Shares
                  issuable upon exercise of the Noteholder Warrants at an exercise
                  price of
                  $.00001 per share.

              
	
                (4)

              	
                Shares
                  issuable upon conversion of the Bridge Notes.

              
	
                (5)

              	
                Shares
                  issuable to ATPA’s stockholders as part of the purchase price to be paid
                  by UBPS in connection with its acquisition of ATPA pursuant to
                  the ATPA
                  Merger Agreement.

              
	
                (6)

              	
                Does
                  not include shares in an amount equal to 10% of the outstanding
                  UBPS
                  Common Stock on a fully diluted basis (703,908 shares if the Minimum
                  Amount is sold and 990,108 shares if the Maximum Amount is sold)
                  that will
                  be available for grant or award of options under a 2007 Stock Incentive
                  Plan to be adopted by UBPS prior to completion of this Offering.
                  All
                  references in the Memorandum to the 2007 Stock Incentive Plan shall
                  reflect such amounts of shares available for grant of options.
                  

              
	
                (7)

              	
                Does
                  not include up to 1,000,000 shares issued by UBPS to secure the
                  promissory
                  note issued by UBPS to fund the Second Escrow Amount pursuant to
                  the ATPA
                  Merger Agreement.

              
	
                (8)

              	
                Does
                  not include up to 24 Units that may be purchased in this Offering
                  by
                  directors, officers and employees of UBPS .

              
	
                (9)

              	
                Includes
                  60,000 shares of UBPS Common Stock issuable to the Chairman of
                  the Board
                  of UBPS in payment of a consulting fee. See “Management - Executive
                  Compensation”. Of the remaining 532,503 shares, an aggregate of 238,029
                  shares will be transferred prior to the initial closing of the
                  Offering by
                  Richard Stierwalt, the President and Chief Executive Officer of
                  UBPS, to
                  the future Chief Financial Officer of UBPS and to Andrew
                  Park.

              
	
                (10)

              	
                Does
                  not include up to a total of 417,362 performance incentive shares
                  if the
                  Minimum Amount of Units is sold, and if the Maximum Amount of Units
                  is
                  sold, of UBPS Common Stock to be issued to Mr. Richard Stierwalt,
                  and to
                  the future Chief Financial Officer of UBPS upon the Company achieving
                  the
                  following budgeted performance levels: (i) 50% of such shares will
                  be
                  issued to such officers upon the Company achieving consolidated
                  EBITDA (as
                  defined in the Senior Secured Notes) of $4.75 million for the four
                  fiscal
                  quarters ending October 31, 2008; and (ii) 50% of such shares will
                  be
                  issued to such officers upon the Company achieving consolidated
                  EBITDA (as
                  defined in the Senior Secured Notes) of $5.9 million for the four
                  fiscal
                  quarters ending October 31, 2009.

              
	
                (11)

              	
                Shares
                  issuable upon exercise of the Placement Agent Warrants at an exercise
                  price of $2.50 per share.

              

      

      

       

      2.
         The
        Company has issued, or will issue simultaneously with the execution of the
        Agreement, a Promissory Note (the “Sweeney Note”), dated as of December __,
        2007, in favor of John Sweeney (“Sweeney”) in the Aggregate Principal Amount of
        $624,000, pursuant to that certain Stock Repurchase Agreement (the “Sweeney
        Repurchase Agreement”), dated October 17, 2007, between Sweeney and the Company.
        The Sweeney Note is repayable from the proceeds of the escrowed funds under
        the
        Acquisition Agreement, only to the extent any such funds are available to
        the
        shareholders of the Company.

       

      3.
         The
        Sweeney Repurchase Agreement.

       

      4.
         The
        Company and Subsidiary have entered into a non-binding letter of intent (the
        “LOI”), by and among the Company, Subsidiary, Information Concepts, Inc.
        (“ICI”), Scott Van Deursen, Bruce Biller and Ronald Jensen. Although definitive
        transaction documents with respect to the transactions contemplated by the
        LOI
        have not been finalized as of the date hereof, such definitive documents
        may
        require the Subsidiary to issue additional securities of the
        Subsidiary.

       

    

    
      
        
          
          

        

        
          -
            37
            -

          
            

          

        

        
          
          

        

      

    

    

    SCHEDULE
      3.1(h)

     

    Financial
      Statements

     

    No
      Disclosure

    
      
        
        

      

      
        -
          38
          -

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      3.1(i)

     

    Material
      Changes

     

    No
      Disclosure

    
      
        
        

      

      
        -
          39
          -

        
          

        

      

      
        
        

      

    

    LEGAL
      PROCEEDINGS

     

    1.
       In
      August
      2006, the Company notified its errors and omissions insurance carrier of a
      threatened claim against the Company, purporting that errors were made in
      processing benefits under a plan it administers for the Western Conference
      of
      Teamsters Group Legal Services Fund purportedly resulting in reimbursement
      of
      benefit claims in excess of plan requirements (the “Threatened Claim”). The
      Company’s errors and omissions insurance carrier has assumed the defense of such
      potential claim. Although the Company is not currently able to determine the
      outcome of such potential claim, because to date no claim has been formally
      made, the Company believes that its maximum exposure would be limited to its
      insurance policy deductible of $300,000 and that any actual claim would not
      exceed the limit of its insurance coverage of $5.0 million. However, there
      can
      be no assurance in this regard and any exposure of the Company to liability
      in
      excess of the amount of its deductible could have a material adverse effect
      on
      the Company’s consolidated financial condition and results of operations. See
      Note 10 to the Audited Consolidated Financial Statements of the Company and
      Subsidiary as of April 30, 2006 and 2007 and for the fiscal years ended April
      30, 2005, 2006 and 2007.

     

    2.
       The
      Northern California UFCW Wholesale Health & Welfare Trust Fund (the “Trust
      Fund”) has, pursuant to a letter dated January 17, 2007, from Linda Baldwin
      Jones to Rachelle Hislop of the Company, claimed that Retiree Self-Pay rate
      and
      COBRA rate increases that were approved effective August 1, 2004 were never
      implemented by the Company (the “UFCW Claim”).  The Trust Fund claims that
      if the Company had, in fact, increased rates effective August 1, 2004, the
      Trust
      Fund would have received an additional $262,152 plus $24 for each Non-Bargained
      Retiree in premiums.  The Trust Fund claims that it should be reimbursed
      for the loss of premiums, although it has offered to settle the matter for
      $227,008. the Company has asserted that the Trust Fund is recovering lost
      premiums by virtue of retiree contribution rates and therefore the Trust Fund
      does not have damages other than lost interest. 

     

    3.
       Claim
      by
      General Employees Trust Fund claiming improper payment of claims by the
      Company.

    
      
        
        

      

      
        -
          40
          -

        
          

        

      

      
        
        

      

    

    SCHEDULE
      3.1(l)

     

    Compliance,
      Material Contracts

     

    Real
      Property Leases

    

    1. Office
      building Lease, dated December 29, 2004, between PTF
      Operating Engineers, LLC (as successor in interest to First Interstate Bank
      of
      California, as Corporate Trustee of the Pension Trust Fund for Operating
      Engineers) and the Company, as
      amended on December 1, 1995 and October 28, 2005, and
      relating to 1640
      South Loop Road, Alameda, California

    

    2. Office
      Lease Agreement, dated May 1, 1996, between Sheet Metal Workers’ National
      Pension Fund Headquarters Building L.L.C. (as successor in interest to Sheet
      Metal Workers’ National Pension Fund Headquarters Building, Inc.) and the
      Company, as amended by the First
      Amendment to Lease dated November 1, 2002, Second Amendment to Lease dated
      November 1, 2002
      November
      1, 2002 and subsequently amended as of May 1, 2004, and relating to 601 N.
      Fairfax Street,
      Suite 500, Alexandria, Virginia 

     

    3. Empire
      Parkway Center Standard Fully Serviced Lease, dated August 9, 2006, between
      Limar Realty Corp. #13 and Limar Realty Corp. # 14 and the Company and relating
      to 1411
      Harbor Bay Parkway, #200, Alameda, California 

     

    4. Standard
      Industrial/Commercial Multi-Tenant Lease-Gross, dated October 10, 2001, between
      4401 Santa Anita Corporation and the Company, as amended on July 1, 2005 and
      January 1, 2007, and relating to 4399/4401
      Santa Anita Ave, #150,200,202,203,204,212A, El Monte, California 

     

    5. Lease,
      dated October __, 1996, between Martha L. Forrester and the Company, as amended
      on September 1, 1998, and relating to 1305 S.W. 12th
      Avenue,
      Portland, Oregon.

     

    6. Lease
      Agreement, dated May 31, 2007, between 989 Market Street, LLC and the Company
      and relating to 989 Market Street, San Francisco, California

     

    7. Office
      Lease (Multi-Tenant), dated July 1, 2004, between Salvio Pacheco Square, LLC
      and
      the Company, as amended on October 28, 2005 and September 29, 2006, and relating
      to 2151
      Salvio Street, Suite 350, Concord, California 

     

    8. Lease
      Agreement, dated April 27, 1993, between Jaidan Investment Co. and the Company
      (as successor in interest to Glen Slaughter Associates), as amended as of May
      9,
      1996, February 1, 2001, March 16, 2004, July 1, 2004 and May 19, 2006, and
      relating to 2831
      Camino Del Rio South, Suite 207, San Diego, California

     

    9. Lease,
      dated January 11, 1991, between IL-30 N. LaSalle Street L.L.C., as beneficiary
      of land trust dated June 12, 1997 (as successor in interest to EOP-30 N. LaSalle
      Street L.L.C., successor in interest to LRP North Limited Partnership, successor
      in interest to The Prudential Insurance Company of America) and the Company
      (as
      successor in interest to Glen Slaughter & Associates), as amended on
      December 10, 1996, July 13, 2001 and January 26, 2005, and relating to 30 North
      La Salle, Suite 2000, Chicago, Illinois

     

    10. Lease,
      dated August 17, 1999, between C&M Investments, a Sole Proprietorship and
      the Company, as amended on September 3, 1999 and February 28, 2000, and relating
      to 2280
      Bates Avenue, Suite F, Concord, California 

     

    11. Lease
      Agreement, dated August 8, 1990, between LMP-1,
      LLC (as successor in interest to Lake Merit Plaza) and the Company, (as
      successor in interest to Glen Slaughter & Associates), as
      amended on November 8, 1993, December 7, 1994, November 17, 1995, August 27,
      1999, August 27, 1999 and September 10, 2004, and
      relating to 1999 Harrison Street, Suite 620, Oakland, California

     

    12. Sublease,
      dated July 1, 2004, between San Diego County Construction Laborers’ Pension
      Trust Fund and the Company and relating to 4161 Home Avenue, 2nd
      floor,
      San Diego, California

    
      
        
        

      

      
        -
          41
          -

        
          

        

      

      
        
        

      

    

    13. Office
      Lease, dated August 28, 2001, between Emery Station Joint Venture, LLC and
      Subsidiary, as amended on January 8, 2003, and relating to EmeryStation, 5858
      Horton Street, Suite 265, Emeryville, California

     

    The
      Company has not obtained the consent of any of its landlords under leases
      requiring such consent with respect to its entry into the Acquisition Agreement
      or the consummation of the Acquisition.

     

    Collective
      Bargaining Agreements:

     

    The
      Company is a party to the following Collective Bargaining
      Agreements:

     

    1. Agreement,
      dated as of April 1, 2005, between Office & Professional Employees
      International Union Local 3 (San Francisco, CA) and the Company

    

    2. Collective
      Bargaining Agreemenrt, effective September 1, 2004 through August 31, 2007,
      between Office & Professional Employees International Union Local 29
      (Oakland, CA) AFL-CIO and the Company

    

    3. Collective
      Bargaining Agreement, dated September 1, 2004, between Office & Professional
      Employees International Union Local 11 (Portland, OR) AFL-CIO and the
      Company

    

    4. Agreement,
      dated September 1, 2004, between Office & Professional Employees
      International Union Local 2 (Silver Spring, MD) AFL-CIO and the Company

    

    5. Agreement,
      effective September 1, 2004 through August 31, 2007, between Office &
Professional Employees International Union Local 537 (Pasadena, CA) AFL-CIO
      and
      the Company

    

    6. Collective
      Bargaining Agreement, dated March 1, 2007, between United Food & Commercial
      Workers International Union Local 1546 (Chicago, IL) and the
      Company

    

    7. Agreement,
      effective January 1, 2005 between Professional & Clerical Workers Local 2348
      and the Company 

    

    8. Contract,
      effective July 1, 2002 through June 30, 2008, between Freight Checkers, Clerical
      Employees and Helpers Union, Local 836, International Brotherhood of Teamsters
      and the Company (d/b/a S F Administrators)

    

    Service
      Agreements with Major Clients

    

    1. Service
      Agreement, effective as of August 1, 1996, between Carpenters Health &
Welfare Trust Fund for California and the Company, as amended on February 23,
      1999

    

    2. Master
      Agreement, dated February 5, 2003, between Freight Checkers, Clerical Employees
      and Helpers Union Local NO. 856 International Brotherhood of Teamsters and
      the
      Company

    

    3. Third
      Party Administrative Services Agreement, dated April 1, 2005, between Sheet
      Metal Workers’ National Pension Fund and the Company

    

    4. Third
      Party Administrative Services Agreement, dated October 1, 2002, between Sheet
      Metal Workers’ National Pension Fund and the Company

    

    5. Third
      Party Administrative Services Agreement, dated April 1, 2000, between Sheet
      Metal Workers’ National Pension Fund and the Company

    

    6. Third
      Party Administrative Services Agreement, dated May 1 1996, between Sheet Metal
      Workers’ National Pension Fund and the Company

    
      
        
        

      

      
        -
          42
          -

        
          

        

      

      
        
        

      

    

    7. Administrative
      Agreement, dated January 1, 2003, between Trustees of Bay Area Painters and
      Tapers Health Fund and the Company

    

    8. Administrative
      Agreement, dated October 1, 1998, between Trustees of the Automotive Industries
      Pension Trust Fund and the Company, as amended on April 12, 2001

    

    9. Administrative
      Agreement, dated June 1, 1998, between Trustees of the Automotive Industries
      Pension Welfare Fund and the Company

    

    10. Administrative
      Agreement, dated January 1, 2002, between Laborers Health and Welfare Trust
      For
      Southern California and the Company

    

    11. Administrative
      Agreement, dated January 1, 2006, between Trustees of the Pensioned Operating
      Engineers Health & Welfare Trust Fund and the Company

    

    12. Administrative
      Agreement, dated January 1, 2006, between Trustee of the Operating Engineers
      Health & Welfare Trust Fund and the Company

    

    13. Administrative
      Agreement, dated January 1, 2000, between Trustees of the Pension Trust Fund
      for
      Operating Engineers and the Company

    

    14. Administrative
      Agreement, dated October 1, 2002, between Building Service Health & Welfare
      Trust and the Company (as successor in interest to C.W. Sweeney and
      Company

    

    15. Administrative
      Services Agreement, effective as of January 1, 1993, between Printing
      Specialties and Paper Products Joint Employer and Union Health and Welfare
      Fund
      and the Company

    

    [The
      Company has not obtained the consent of Carpenters Health and Welfare Trust
      Fund
      for California under the agreement identified in Item 1 above with respect
      to
      its entry into the Acquisition Agreement or the consummation of the
      Acquisition.]

    

    Documents
      relating to the Acquisition:

    

    1. The
      Acquisition Agreement

    

    2. The
      Company is a party to an Employment Agreement, dated as of the date hereof,
      with
      each of the following employees:

    

    
      	 	
              (a)

            	
              David
                Krier;

            

    

    
      	 	
              (b)

            	
              Michael
                Schumacher;

            

    

    
      	 	
              (c)

            	
              Robert
                Glaza;

            

    

    
      	 	
              (d)

            	
              Peter
                Herrling; 

            

    

    
      	 	
              (e)

            	
              James
                Vernor;

            

    

    
      	 	
              (f)

            	
              Michael
                McCormick 

            

    

    
      	 	
              (g)

            	
              Kristen
                Brooks;

            

    

    
      	 	
              (h)

            	
              Joe
                Ehrbar;

            

    

    
      	 	
              (i)

            	
              Doug
                Matook;

            

    

    
      	 	
              (j)

            	
              Russ
                O’Brien; 

            

    

    
      	 	
              (k)

            	
              Marcy
                Sanchez;

            

    

    
      	 	
              (l)

            	
              Thomas
                Springer;

            

    

    
      	 	
              (m)

            	
              Judi
                Wilson;

            

    

    
      	 	
              (n)

            	
              John
                Holback;

            

    

    
      	 	
              (o)

            	
              Debra
                Elkins-Santi;

            

    

    
      	 	
              (p)

            	
              Peter
                Santillan;

            

    

    
      	 	
              (q)

            	
              Greg
                Trento;

            

    

    
      	 	
              (r)

            	
              Sandra
                Snyder; and 

            

    

    
      
        
        

      

      
        -
          43
          -

        
          

        

      

      
        
        

      

    

    
      	 	
              (s)

            	
              Pati
                Piro-Bosley.

            

    

    

    3. Non-Competition
      and Non-Solicitation Agreements, dated as of the date hereof, by and between
      the
      Company and each of the following individuals:

    

    
      	 	
              (a)

            	
              John
                Sweeney;

            

    

    
      	 	
              (b)

            	
              Tom
                Weston;

            

    

    
      	 	
              (c)

            	
              David
                Krier;

            

    

    
      	 	
              (d)

            	
              Michael
                Schumacher;

            

    

    
      	 	
              (e)

            	
              Robert
                Glaza;

            

    

    
      	 	
              (f)

            	
              Peter
                Herrling; 

            

    

    
      	 	
              (g)

            	
              James
                Vernor;

            

    

    
      	 	
              (h)

            	
              Michael
                McCormick;

            

    

    
      	 	
              (i)

            	
              Kristen
                Brooks;

            

    

    
      	 	
              (j)

            	
              Joe
                Ehrbar;

            

    

    
      	 	
              (k)

            	
              Doug
                Matook;

            

    

    
      	 	
              (l)

            	
              Russ
                O’Brien; 

            

    

    
      	 	
              (m)

            	
              Marcy
                Sanchez;

            

    

    
      	 	
              (n)

            	
              Thomas
                Springer; and

            

    

    
      	 	
              (o)

            	
              Judi
                Wilson.

            

    

    

    3. Consulting
      Agreement, dated as of the date hereof, by and between the Company and John
      Sweeney

    

    4. Stock
      Repurchase Agreement, dated October 17, 2007, between the Company and John
      Sweeney

    

    5. The
      Sweeney Note.

    

    Other
      Contracts:

    

    The
      Company has agreed to purchase a license for claim administration software
      from
      ICI, the potential partner in the reorganization of TBOL. The agreement with
      ICI
      is not yet finalized, but payments have been made by the
      Company.

    
      
        
        

      

      
        -
          44
          -

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      3.1(s)

     

    Certain
      Fees

     

    No
      Disclosure

     

    
      
        
        

      

      
        -
          45
          -

        
          

        

      

      
        
        

      

    

    SCHEDULE
      3.1(v)

     

    Registration
      Rights

     

    No
      Disclosure

    
      
        
        

      

      
        -
          46
          -

        
          

        

      

      
        
        

      

    

    SCHEDULE
      3.1(z)

     

    Indebtedness

     

    1. The
      Sweeney Note. 

     

    2. Capitalized
      leases reflected on the Financial Statements of the Company.

    
      
        
        

      

      
        -
          47
          -

        
          

        

      

      
        
        

      

    

    SCHEDULE
      3.1(cc)

     

    Tax
      Status

     

    No
      Disclosure

    
      
        
        

      

      
        -
          48
          -

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      3.1(ii)

     

    Accountants

     

    1. Marcum
      & Kliegman, LLP

     

    
      
        
        

      

      
        -
          49
          -

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