Document:

EXCHANGE
AND PURCHASE AGREEMENT

    (Restricted
Convertible Notes)

     

    _________________________
(including any other persons or entities exchanging Existing Notes (as defined
below) or purchasing New Notes (as defined below) hereunder for whom the
undersigned Holder holds contractual and investment authority, the “Holder”) enters into this
Exchange and Purchase Agreement (the “Agreement”) with PDL
BioPharma, Inc., a Delaware corporation (the “Company”), on _____, 2010
whereby the Holder will (a)  exchange (the “Exchange”) the Company’s 2.00%
Convertible Senior Notes due 2012 (the “Existing Notes”) for a portion
of the Company’s new ______% Convertible Senior Notes due 2015 (the “New Notes”) that will be
issued pursuant to the provisions of an Indenture dated as of ____________, 2010
(the “Indenture”)
between the Company and The Bank of New York Mellon Trust Company, N.A., as
Trustee (the “Trustee”),
and (b) purchase for cash (the “Purchase”) an additional
portion of the New Notes.

     

    On and
subject to the terms hereof, the parties hereto agree as follows:

     

    Article
I:  Exchange of Existing Notes and Purchase of New
Notes

     

    Section
1.1           Exchange. 
At the Closing (as defined herein), the Holder hereby agrees to exchange
and deliver to the Company the following Existing Notes, and in exchange
therefor the Company hereby agrees to issue to the Holder the principal amount
of New Notes described below and to pay in cash the following accrued but unpaid
interest on such Existing Notes:

     

    
      
        
          
            
              
                
                  
                    
                      	
                              Principal
      Amount of Existing Notes to be Exchanged:

                            	

                              $

                            	
                               

                            
	 
      	(the
      “Exchanged
      Existing
Notes”).

                    

                  

                

              

            

          

        

        

        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    Principal
      Amount of New Notes to be Issued in the Exchange:

                                  	
                                    $

                                  	 
      
	 
      	(the
      “Exchanged
      New
Notes”). 

                          

                        

                      

                    

                  

                

              

            

          

        

        

        
          
            
              
                
                  
                    
                      	
                                    
                                Cash
      Payment of Accrued but Unpaid Interest on Exchanged Existing
      Notes:

                              

                            	
                              $

                            	
                               

                            
	 
      	(the
      “Cash
      Payment”).

                    

                  

                

              

            

          

        

      

       

    

    Section
1.2           Purchase. 
At the Closing (as defined herein), the Holder hereby agrees to purchase
from the Company, and the Company hereby agrees to issue and sell to the Holder,
the following principal amount of the Notes for the cash purchase price
specified below:

     

    
      
        
          
            	
                    Principal
      Amount of Notes to be Purchased:

                  	
                    $                                                                                                          

                  
	 
      	
                    (the
      “Purchased New
      Notes”)

                  
	 	 
	
                    Purchase
      Price for Purchased New Notes:

                  	
                    ______%
      of the principal amount of the Purchased New 

                    Notes
      ($                                            
      ) (the “Purchase
      Price”).

                  

          

        

      

    

     

    Section
1.3           Closing. 
The closing (the “Closing”) of the Exchange and
Purchase (collectively, the “Transactions”) shall occur on
a date (the “Closing
Date”) no later than three business days after the date of this
Agreement.  At the Closing, (a) the Holder shall deliver or cause to
be delivered to the Company all right, title and interest in and to the
Exchanged Existing Notes free and clear of any mortgage, lien, pledge, charge,
security interest, encumbrance, title retention agreement, option, equity or
other adverse claim thereto (collectively, “Liens”), together with any
documents of conveyance or transfer that the Company may deem necessary or
desirable to transfer to and confirm in the Company all right, title and
interest in and to the Exchanged Existing Notes free and clear of any Liens and
the Purchase Price, and (b) the Company shall
issue to the Holder the Exchanged New Notes
and the Purchased New Notes (collectively,
the “Holder’s New
Notes”) and shall deliver to the Holder the
Cash Payment; provided, however, that the parties acknowledge that the issuance
of the Holder’s New Notes to the Holder may be delayed due to procedures and
mechanics within the system of the Depository Trust Company and that such delay
will not be a default under this Agreement so long as (i) the Company is
using its best efforts to effect the issuance of one or more global
notes representing the New Notes, (ii) such delay is no longer than
three business days, and (iii) interest shall accrue on such New Notes from
the Closing Date.  Simultaneously with or after the Closing, the Company
may issue New Notes to one or more other holders of outstanding Existing Notes
or to other investors.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
II:  Covenants, Representations and Warranties of the
Holder

     

    The
Holder hereby covenants as follows, and makes the following representations and
warranties, each of which is and shall be true and correct on the date hereof
and on the Closing Date, to the Company, Lazard Frères & Co. LLC and Lazard
Capital Markets LLC, and all such covenants, representations and warranties
shall survive the Closing.

     

    Section
2.1           Power and
Authorization.  The Holder is duly organized, validly existing and
in good standing, and has the power, authority and capacity to execute and
deliver this Agreement, to perform its obligations hereunder, and to consummate
the Transactions contemplated hereby.  If the Holder that is signatory
hereto is executing this Agreement to effect the exchange of Exchanged Existing
Notes beneficially owned by one or more other persons or entities or to effect
the purchase of the Purchased New Notes by one or more other persons or entities
(all of whom are thus included in the definition of “Holder” hereunder),
(a) such signatory Holder has all requisite discretionary authority to
enter into this Agreement on behalf of, and bind, each such other person or
entity that is a beneficial owner of Exchanged Existing Notes or that is
purchasing Purchased New Notes; (b) Exhibit A hereto
is a true, correct and complete list of (i) the name of each party
delivering (as beneficial owner) Exchanged Existing Notes hereunder,
(ii) the principal amount of such Holder’s Exchanged Existing Notes,
(iii) the principal amount of Exchanged New Notes to be issued to such
Holder in respect of its Exchanged Existing Notes, and (iv) the amount of
the cash payment to be made to such Holder in respect of the accrued interest on
its Exchanged Existing Notes; and (c) Exhibit B hereto
is a true, correct and complete list of (i) the name of each party
acquiring (as beneficial owner) Purchased New Notes hereunder, and (ii) the
principal amount of Purchased New Notes being acquired by such
Holder.

     

    Section
2.2           Valid and
Enforceable Agreement; No Violations.  This Agreement has been duly
executed and delivered by the Holder and constitutes a legal, valid and binding
obligation of the Holder, enforceable against the Holder in accordance with its
terms, except that such enforcement may be subject to (a) bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium or other similar
laws affecting or relating to enforcement of creditors’ rights generally, and
(b) general principles of equity, whether such enforceability is considered
in a proceeding at law or in equity (the “Enforceability
Exceptions”).  This Agreement and consummation of the Transactions
will not violate, conflict with or result in a breach of or default under
(i) the Holder’s organizational documents, (ii) any agreement or
instrument to which the Holder is a party or by which the Holder or any of its
assets are bound, or (iii) any laws, regulations or governmental or
judicial decrees, injunctions or orders applicable to the Holder.

     

    Section
2.3           Title to
the Exchanged Existing Notes.  The Holder is the sole legal and
beneficial owner of the Exchanged Existing Notes, and the Holder has good, valid
and marketable title to the Exchanged Existing Notes, free and clear of any
Liens (other than pledges or security interests that the Holder may have created
in favor of a prime broker under and in accordance with its prime brokerage
agreement with such broker).  The Holder has not, in whole or in part,
except as described in the preceding sentence, (a) assigned, transferred,
hypothecated, pledged, exchanged or otherwise disposed of any of the Exchanged
Existing Notes or its rights in the Exchanged Existing Notes, or (b) given
any person or entity any transfer order, power of attorney or other authority of
any nature whatsoever with respect to the Exchanged Existing Notes.  Upon
the Holder’s delivery of the Exchanged Existing Notes to the Company pursuant to
the Exchange, the Exchanged Existing Notes shall be free and clear of all Liens
created by the Holder.

     

    Section
2.4           Qualified
Institutional Buyer.  The Holder is a “qualified institutional
buyer” within the meaning of Rule 144A promulgated under the Securities Act of
1933, as amended (the “Securities
Act”).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Section
2.5           No
Affiliate Status.  The Holder is not, and has not been during the
consecutive three month period preceding the date hereof, a director, officer or
“affiliate” within the meaning of Rule 144 promulgated under the Securities Act
(an “Affiliate”) of the
Company.

     

    Section
2.6           Restricted
Stock.  The Holder (a) acknowledges that the issuance of all
the Holder’s New Notes pursuant to the Transactions (whether in the Exchange or
the Purchase), and the issuance of any of the shares of the Company’s common
stock, par value $0.01 per share (the “Common Stock”), upon
conversion of the Holder’s New Notes (the “Conversion Shares”), have not
been and will not be registered under the Securities Act or any state securities
laws, and the Holder’s New Notes and Conversion Shares are being offered and
sold in reliance upon exemptions provided in the Securities Act and state
securities laws for transactions not involving any public offering and,
therefore, cannot be sold, transferred, offered for sale, pledged, hypothecated
or otherwise disposed of unless they are subsequently registered and qualified
under the Securities Act and applicable state laws or unless an exemption from
such registration and qualification is available, and that evidence of the
Holder’s New Notes and Conversion Shares will bear a legend to such effect, and
(b) is acquiring the Holder’s New Notes and Conversion Shares for
investment purposes only, for the account of the Holder and not with any view
toward a distribution thereof or with any intention of selling, distributing or
otherwise disposing of the Holder’s New Notes or Conversion Shares in a manner
that would violate the registration requirements of the Securities Act. 
The Holder is able to bear the economic risk of holding the Holder’s New Notes
and Conversion Shares for an indefinite period and has sufficient knowledge and
experience in financial and business matters so as to be capable of evaluating
the merits and risks of its investment in the Holder’s New Notes and Conversion
Shares.

     

    Section
2.7           No
Illegal Transactions.  The Holder has not, directly or indirectly,
and no person acting on behalf of or pursuant to any understanding with the
Holder has, engaged in any transactions in the securities of the Company
(including, without limitation, any Short Sales (as defined below) involving any
of the Company’s securities) since the time that such Holder was first contacted
by either the Company, Lazard Frères & Co. LLC or Lazard Capital Markets LLC
or any other person regarding an investment in the New Notes or the
Company.  Such Holder covenants that neither it nor any person acting on
its behalf or pursuant to any understanding with such Holder will engage,
directly or indirectly, in any transactions in the securities of the Company
(including Short Sales) prior to the time the transactions contemplated by this
Agreement are publicly disclosed.  “Short Sales” include, without
limitation, all “short sales” as defined in Rule 200 of Regulation SHO
promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and all types
of direct and indirect stock pledges, forward sale contracts, options, puts,
calls, short sales, swaps, derivatives and similar arrangements (including on a
total return basis), and sales and other transactions through non-U.S.
broker-dealers or foreign regulated brokers.  Solely for purposes of this
Section 2.7, subject to the Holder's compliance with its obligations under
the U.S. federal securities laws and the Holder's internal policies, “Holder”
shall not be deemed to include any subsidiaries or affiliates of the Holder that
are effectively walled off by appropriate “Chinese Wall” information barriers
approved by the Holder's legal or compliance department (and thus have not been
privy to any information concerning the Transactions).

     

    Section
2.8           Adequate
Information; No Reliance. The Holder acknowledges
and agrees that (a) the Holder has been furnished with all materials it
considers relevant to making an investment decision to enter into the
Transactions and to invest in the Holder’s New Notes and Conversion Shares and
has had the opportunity to review the Company’s filings with the Securities and
Exchange Commission (the “SEC”), including, without
limitation, all filings made pursuant to the Exchange Act, (b) the Holder
has had a full opportunity to ask questions of the Company concerning the
Company, its business, operations, financial performance, financial condition
and prospects, and the terms and conditions of the Transactions, (c) the
Holder has had the opportunity to consult with its accounting, tax, financial
and legal advisors to be able to evaluate the risks involved in the Transactions
and to make an informed investment decision with respect to the Transactions and
(d) the Holder is not relying, and has not relied, upon any statement,
advice (whether accounting, tax, financial, legal or other), representation or
warranty made by the Company or any of its affiliates or representatives
including, without limitation, Lazard Frères & Co. LLC and Lazard
Capital Markets LLC, except for (A) the publicly available filings made by
the Company with the SEC under the Exchange Act, and (B) the
representations and warranties made by the Company in this
Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Section
2.9           No Public
Market. The
Holder understands that no public market exists for the New Notes, and that
there is no assurance that a public market will ever develop for the New
Notes.

     

    Article
III:  Covenants, Representations and Warranties of the
Company

     

    The
Company hereby covenants as follows, and makes the following representations and
warranties, each of which is and shall be true and correct on the date hereof
and on the Closing Date, to the Holder, Lazard Frères & Co. LLC and Lazard
Capital Markets LLC, and all such covenants, representations and warranties
shall survive the Closing.

     

    Section
3.1           Power and
Authorization.  The Company is duly incorporated, validly existing
and in good standing under the laws of its state of incorporation, and has the
power, authority and capacity to execute and deliver this Agreement and the
Indenture, to perform its obligations hereunder and thereunder, and to
consummate the Transactions contemplated hereby.

     

    Section
3.2           Valid and
Enforceable Agreements; No Violations.  This Agreement has been duly
executed and delivered by the Company and constitutes a legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with
its terms, except that such enforcement may be subject to the Enforceability
Exceptions.  At the Closing, the Indenture, substantially in the form of
Exhibit C
hereto, will have been duly executed and delivered by the Company and will
govern the terms of the Holder’s New Notes, and will constitute a legal, valid
and binding obligation of the Company, enforceable against the Company in
accordance with its terms, except that such enforcement may be subject to the
Enforceability Exceptions.  This Agreement, the Indenture and consummation
of the Transactions will not violate, conflict with or result in a breach of or
default under (i) the charter, bylaws or other organizational documents of
the Company, (ii) any agreement or instrument to which the Company is a
party or by which the Company or any of its assets are bound, or (iii) any
laws, regulations or governmental or judicial decrees, injunctions or orders
applicable to the Company

     

    Section
3.3           Validity
of the Holder’s New Notes.  The Holder’s New Notes have been duly authorized
by the Company and, when executed and authenticated in accordance with the
provisions of the Indenture and delivered to the Holder pursuant to the
Transactions against delivery of the Exchanged Existing Notes and payment of the
Purchase Price in accordance with the terms of this Agreement, the Holder’s New
Notes will be valid and binding obligations of the Company, enforceable in
accordance with their terms, except that such enforcement may be subject to the
Enforceability Exceptions, and the issuance of the Holder’s New Notes will not
be subject to any preemptive, participation, rights of first refusal and other
similar rights.  Assuming the accuracy of the Holder’s representations and
warranties hereunder, the Holder’s New Notes (a) will be issued in the
Transactions exempt from the registration requirements of the Securities Act
pursuant to Section 4(2) of the Securities Act and Rule 506 of Regulation
D promulgated under the Securities Act, and (b) will be issued in
compliance with all applicable state and federal laws concerning the issuance of
the Holder’s New Notes.

     

    Section
3.4           Validity
of Underlying Common Stock .  The Holder’s New Notes will be
convertible into the Conversion Shares in accordance
with the terms of the Indenture.  The Conversion Shares have been duly
authorized and reserved by the Company for issuance upon conversion of the
Holder’s New Notes and, when issued upon conversion of the Holder’s New Notes in
accordance with the terms of the Holder’s New Notes and the Indenture, will be
validly issued, fully paid and non-assessable, and the issuance of the
Conversion Shares will not be subject to any preemptive, participation, rights
of first refusal and other similar rights.

     

    Section
3.5           Listing
Approval.  At the Closing Date, the Conversion Shares shall be
listed on the NASDAQ Stock Market.

     

    Section
3.6           Disclosure. 
On or before the first business day following the date of this Agreement,
the Company shall issue a publicly available press release or file with the SEC
a Current Report on Form 8-K disclosing all material terms of the
Transactions and certain other matters concerning the Company (to the extent not
previously publicly disclosed).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
IV:  Miscellaneous

     

    Section
4.1           Entire
Agreement.  This Agreement and any documents and agreements executed
in connection with the Transactions embody the entire agreement and
understanding of the parties hereto with respect to the subject matter hereof
and supersede all prior and contemporaneous oral or written agreements,
representations, warranties, contracts, correspondence, conversations, memoranda
and understandings between or among the parties or any of their agents,
representatives or affiliates relative to such subject matter, including,
without limitation, any term sheets, emails or draft documents.

     

    Section
4.2           Construction. 
References in the singular shall include the plural, and vice versa,
unless the context otherwise requires.  References in the masculine shall
include the feminine and neuter, and vice versa, unless the context otherwise
requires.  Headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meanings of the provisions
hereof.  Neither party, nor its respective counsel, shall be deemed the
drafter of this Agreement for purposes of construing the provisions of this
Agreement, and all language in all parts of this Agreement shall be construed in
accordance with its fair meaning, and not strictly for or against either
party.

     

    Section
4.3           Governing
Law.  This Agreement shall in all respects be construed in
accordance with and governed by the substantive laws of the State of New York,
without reference to its choice of law rules.

     

    Section
4.4           Counterparts. 
This Agreement may be executed in counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one and the
same instrument.  Any counterpart or other signature hereon delivered by
facsimile shall be deemed for all purposes as constituting good and valid
execution and delivery of this Agreement by such party.

     

     [Signature
Page Follows]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be
executed as of the date first above written.

    

    
      
        	
                “HOLDER”:

              	 
      	
                “COMPANY”:

              
	 
      	 
      	 
      
	
                   

              	 
      	
                PDL
      BIOPHARMA, INC.

              
	 
      	 
      	 
      
	
                By:

              	
                   

              	 
      	
                By:

              	
                   

              
	 
      	 
      	 
      
	
                Name:

              	
                   

              	 
      	
                Name:

              	
                   

              
	 
      	 
      	 
      
	
                Title:

              	
                   

              	
                  

              	
                Title:

              	
                   

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    EXHIBIT
A

    Exchanging
Beneficial Owners

    

    
      
        	
                Name of

                Beneficial Owner

              	 
      	
                Principal Amount 

                of Exchanged 

                Existing Notes

              	 
      	
                Principal Amount of

                Exchanged New Notes

              	 
      	
                Cash Interest Payment

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                  

              	 
      	
                  

              	 
      	
                  

              	 
      

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    EXHIBIT
B

    Purchasing
Beneficial Owners

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Name of

                              Beneficial Owner

                            	 
      	
                              Principal Amount of

                              Purchased New Notes 

                            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    EXHIBIT
C

    Form
of IndentureExhibit
10.16

    FORM
OF NOTE PURCHASE AGREEMENT

     

    NOTE PURCHASE AGREEMENT (this
“Agreement”),
dated as of ________, 2010, by and between rVUE, Inc., a Delaware corporation
(the “Company”),
Argo Digital Solutions, Inc., a Delaware corporation (the “Parent”),
and each of the lender entities whose names appear on the signature pages
hereof.  Such lender entities are each referred to herein as a “Lender”
and, collectively, as the “Lenders”.

     

    WITNESSETH:

     

    WHEREAS,
the Company wishes to sell to each Lender, and each Lender wishes to purchase,
upon the terms and subject to the conditions set forth in this Agreement, a
Secured Promissory Note, which shall accrue interest at the rate of 10% per
annum, substantially in the form attached hereto as Exhibit A
annexed hereto (a “Note” and,
collectively with the other Notes issued hereunder, the “Notes”).

    

    WHEREAS,
the Company’s obligations under the Notes, including without limitation its
obligation to make payments of principal thereof and interest thereon, are
secured by substantially all of the assets of the Company, pursuant to the terms
of a Security Agreement substantially in the form attached hereto as Exhibit B
annexed hereto (the “Security
Agreement”).

    

    NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties to this Agreement hereby agree as
follows:

     

    1.           Certain
Definitions.

    

    (a)           When
used herein, the following terms shall have the respective meanings
indicated:

    

    “Board of
Directors” means the Company’s board of directors.

    

    “Business
Day” means any day other than a Saturday, a Sunday or a day on which the
New York Stock Exchange is closed or on which banks in the City of New York are
required or authorized by law to be closed.

    

    “Closing”
and “Closing
Date” have the respective meanings specified in Section 1
of this Agreement.

    

    “Commission”
means the Securities and Exchange Commission, and any successor regulatory
agency.

    

    “Common
Stock” means the common stock of the Company, outstanding on the date
hereof or, following a Reverse Merger Transaction (as defined below), the shares
common stock of the Public Company (as defined below) into which the common
stock of the Company shall be exchanged.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    “Copyrights”
are any and all copyright rights, copyright applications, copyright
registrations and like protections in each work or authorship and derivative
work thereof, whether published or unpublished and whether or not the same also
constitutes a trade secret.

    

    “Event of
Default” has the meaning specified in the Notes.

    

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

    

    “Execution
Date” means the date of this Agreement.

    

    “GAAP”
means U.S. generally accepted accounting principles, applied on a consistent
basis.  Accounting principles are applied on a “consistent basis” when
the accounting principles applied in a current period are comparable in all
material respects to those accounting principles applied in a preceding
period.

    

    “Governmental
Authority” means any nation or government, any state, provincial or
political subdivision thereof and any entity exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to government,
including, without limitation, any stock exchange, securities market or
self-regulatory organization.

    

    “Intellectual
Property” means all of the right, title, and interest in and to the
following:

    

    (a)           its
Copyrights, Trademarks and Patents;

     

    (b)           any
and all trade secrets and trade secret rights, including, without limitation,
any rights to unpatented inventions, know-how, operating manuals;

     

    (c)           any
and all source code;

     

    (d)           any
and all design rights which may be available;

     

    (e)           any
and all claims for damages by way of past, present and future infringement of
any of the foregoing, with the right, but not the obligation, to sue for and
collect such damages for said use or infringement of the Intellectual Property
rights identified above; and

     

    (f)           all
amendments, renewals and extensions of any of the Copyrights, Trademarks or
Patents.

     

    “Maturity
Date” has the meaning specified in the Notes.

    

    “Material Adverse
Effect” means an effect that is material and adverse to (i) the
consolidated business, properties, assets, operations, results of operations,
financial condition, credit worthiness or prospects of the Company taken as a
whole, (ii) the ability of the Company to perform its material obligations under
this Agreement or the other Transaction Documents or (iii) the rights and
benefits to which an Lender is entitled under this Agreement or any of the other
Transaction Documents.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    “New
Securities” means, any Common Stock or Common Stock Equivalents that the
Company sells for cash consideration at any time during the period from the
Closing Date through One Hundred and Eighty (180) days from the Closing
Date.

    

    “Patents”
means all patents, patent applications and like protections including without
limitation improvements, divisions, continuations, renewals, reissues,
extensions and continuations-in-part of the same.

    

    “Permitted
Indebtedness” means has the meaning specified in the Notes with the
existing Permitted Indebtedness on Schedule I hereto.

     

    “Purchase
Price” means, with respect to the Notes purchased at the Closing, the
original principal amount of the Note purchased at the Closing.

    

    “Reverse Merger
Transaction” means a transaction in which the Company directly or
indirectly (a) merges or consolidates with, or in one or a series of related
transaction sells all or substantially all of its assets to an entity that is
required, or whose parent is a corporation that is required, to file reports
pursuant to Section 13 or 15(d) under the Exchange Act (a “Public
Company”) that is required to be accounted for by the Public Company as a
“reverse acquisition” under GAAP; or (b) is sold by Parent or otherwise acquired
by a Public Company in a transaction or business combination other than a merger
or consolidation; and (c) at or about the time of any such transaction described
in clauses (a) or (b), the Company and/or such Public Company sells securities
for at least $1 million gross cash proceeds in a capital raising transaction
(“Reverse
Merger Financing”).

     

    “Securities
Act” means the Securities Act of 1933 Act, as amended, and the rules and
regulations promulgated thereunder.

    

    “Shares”
means any shares of Common Stock that Lender is or shall be entitled to under
the Transaction Documents.

    

    “Subsequent
Financing” the first subsequent sale of Common Stock or Common Stock
Equivalents following the Closing Date (as hereinafter defined) in which the
Company and/or the Public Company realizes at least $1 million gross cash
proceeds.

     

    “Trademarks”
means any trademark and servicemark rights, whether registered or not,
applications to register and registrations of the same and like protections, and
the entire goodwill of the business connected with and symbolized by such
trademarks.

     

     “Transaction
Documents” means (i) this Agreement, (ii) the Notes, (iii) the Security
Agreement, and (iv) all other agreements, documents and other instruments
executed and delivered by or on behalf of the Company or any of its officers at
the Closing.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (b)           Other Definitional
Provisions.  All definitions contained in this Agreement are
equally applicable to the singular and plural forms of the terms
defined.  The words “hereof”, “herein” and “hereunder” and words of
similar import contained in this Agreement refer to this Agreement as a whole
and not to any particular provision of this Agreement.

    

    
      2.         
 Closing.

    

    

    Upon the
terms and subject to the satisfaction or waiver of the conditions set forth
herein, the Company agrees to sell and each Lender agrees to purchase a Note
with a principal amount equal to the amount set forth below such Lender’s name
on the signature pages hereof.  The date on which the closing of such
purchase and sale occurs (the “Closing”)
is hereinafter referred to as the “Closing
Date”. The Closing will be deemed to occur at the offices of Akerman
Senterfitt, or such other place as the parties mutually agree upon, when (A)
this Agreement and the other Transaction Documents (as defined below) have been
executed and delivered by the Company and each Lender, (B) each of the
conditions to the Closing described in this Agreement has been satisfied or
waived as specified therein and (C) payment of each Lender’s Purchase Price
payable with respect to the Note being purchased by such Lender at the Closing
has been made by wire transfer of immediately available funds.  At the
Closing, the Company shall deliver to each Lender a duly executed instrument
representing the Note purchased by such Lender.

    

    3.           Representations and
Warranties of the Company.  The Company and Parent, jointly and
severally, represent and warrant to each Lender as follows, in each case as of
the date hereof:

     

    (a)           The
Company is duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization with full power and authority to own,
lease, license and use its properties and assets and to carry out the business
in which it proposes to engage.

     

    (b)           The
Company has the requisite corporate power and authority to execute, deliver and
perform its obligations under this Agreement and to issue and sell the
Notes. All necessary proceedings of the Company have been duly taken to
authorize the execution, delivery, and performance of the Transaction
Documents.  The Transaction Documents have been duly authorized by the
Company and, when executed and delivered by the Company, will constitute the
legal, valid and binding obligation of the Company enforceable against the
Company in accordance with their terms, except as such enforceability may be
limited by general principles of equity or to applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation and other similar laws relating to, or
affecting generally, the enforcement of applicable creditors' rights and
remedies.

     

    (c)           No
consent of any party to any contract, agreement, instrument, lease or license to
which the Company is a party or to which any of its properties or assets are
subject is required for the execution, delivery or performance by the Company of
any of the Transaction Documents or the issuance and sale of the
Notes.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (d)          The
execution, delivery and performance by Company of the Transaction Documents to
which it is a party have been duly authorized, and do not (i) conflict with any
of Parent’s or Company’s organizational documents, (ii) contravene,
conflict with, constitute a default under or violate any material statute, law,
rule, regulation or court decree binding upon or applicable to the Parent or
Company, or its assets or properties, (iii) contravene, conflict or violate
any applicable order, writ, judgment, injunction, decree, determination or award
of any Governmental Authority by which Parent, Company or any of its
Subsidiaries or any of their property or assets may be bound or affected,
(iv) require any action by, filing, registration, or qualification with, or
governmental approval from, any Governmental Authority (except such governmental
approvals which have already been obtained and are in full force and effect) or
(v) constitute an event of default or give rise to a right to terminate
under any material agreement by which Parent, Company or any of its Subsidiaries
is bound.  Neither Company nor Parent is in default under any
agreement to which it is a party or by which it is bound in which the default
could reasonably be expected to have a material adverse effect on Company’s
business.

     

    (e)          Company
is the sole owner of the Intellectual Property associated with rVUE and the out
of home display and digital media exchange and advertising business presented to
Lender, and all related assets and businesses, which it owns or purports to own
except for (a) non-exclusive licenses granted to its customers in the ordinary
course of business, (b) over-the-counter software that is commercially available
to the public, and (c) material Intellectual Property licensed to
Company.  Each Patent which it owns or purports to own and which is
material to Company’s business is valid and enforceable, and no part of the
Intellectual Property which Company owns or purports to own and which is
material to Company’s business has been judged invalid or unenforceable, in
whole or in part.  To the best of Company’s knowledge, no claim has
been made that any part of the Intellectual Property violates the rights of any
third party except to the extent such claim would not reasonably be expected to
have a material adverse effect on Company’s business.

     

    (f)           There
are no actions or proceedings pending or, to the knowledge of Parent or the
Company, threatened in writing by or against Company or any of its Subsidiaries
involving more than, individually or in the aggregate, Ten Thousand Dollars
($10,000).

     

    (g)          The
financial statements of the Company provided to the Lender 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 the financial statements may not contain all footnotes required by GAAP,
and fairly present in all material respects the financial position of the
Company and for the dates thereof and the results of operations and cash flows
for the periods then ended, subject to normal, immaterial, year-end audit
adjustments.

     

    Piggyback Registration
Rights.  Any Lender, and in the case of the Reverse Merger, any
Lender who participates in a Reverse Merger Financing in accordance with Section
8 below, shall be entitled to the following registration rights for so long as
any of the Notes are outstanding, subject to the conditions set forth
below:

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    If at any
time after the date hereof the Company, or after the closing of a Reverse Merger
Financing, the Public Company, shall determine to file with the Commission a
registration statement under the Securities Act relating to an offering for its
own account or the account of others of any of its equity securities (other than
on Form S-4 or Form S-8 or their then equivalents relating to equity securities
to be issued solely in connection with any acquisition of any entity or business
or equity securities issuable in connection with stock option or other bona fide, employee
benefit plans), the Company or the Public Company, as the case may be, shall
send to each Lender who is entitled to registration, written notice of such
determination not less than twenty (20) days prior to filing such registration
statement, and, if within ten (10) days after the mailing date of such notice,
such Lender shall so request in writing, the Company or the Public Company shall
include in such registration statement all or any part of the Shares of the
Public Company received or to be received by such Lender upon conversion of the
Notes that such Lender requests to be registered, except that if, in connection
with any underwritten public offering for the account of the Company or the
Public Company the managing underwriter(s) thereof shall impose a limitation on
the number of such Shares which may be included in the registration statement
because, in such underwriter(s)’ judgment, marketing or other factors dictate
such limitation is necessary to facilitate public distribution, then the Company
or the Public Company shall be obligated to include in such registration
statement only such limited portion of the Shares with respect to which such
Lender has requested inclusion hereunder as the underwriter shall permit. Any
exclusion of Shares shall be made pro rata among the Lender seeking to include
Shares in proportion to the number of securities sought to be included by such
additional investors; provided, however, that the
Company or the Public Company shall not exclude any Shares unless the Company or
Public Company has first excluded all outstanding securities, the purchaser of
which are not entitled to inclusion of such securities in such registration
statement or are not entitled to pro rata inclusion with the Shares; and provided, further, however, that, after
giving effect to the immediately preceding proviso, any exclusion of Shares
shall be made pro rata with the purchaser of other securities having the right
to include such securities in the registration statement other than purchaser of
securities entitled to inclusion of their securities in such registration
statement by reason of demand registration rights.  If an offering in
connection with which a Lender is entitled to registration is an underwritten
offering, then each Lender whose Shares are included in such registration
statement shall, unless otherwise agreed by the Company or Public Company, offer
and sell such Shares in an underwritten offering using the same underwriter or
underwriters and on the same terms and conditions as other shares of Common
Stock included in such underwritten offering.  In the event the
Company or the Public Company is advised by the staff of the Commission, or any
applicable self-regulatory or state securities agency, that the inclusion of the
Shares will prevent, preclude or materially delay the effectiveness of a
registration statement filed, the Company and the Public Company, in good faith,
may amend such registration statement to exclude the Shares without otherwise
affecting the Lender’s rights to any other registration
statement.  Any costs associated with registration of the Shares shall
be paid by the Company or Public Company.

     

    4.           Representations, Warranties
and Covenants of Lender.  Lender hereby represents and warrants
to, and agrees with, the Company as follows:

     

    (a)           Lender
is an “Accredited Investor” as such term is defined in Rule 501(a) promulgated
under the Securities Act.

     

    (b)           Each
of the Transaction Documents to which Lender is party has been duly executed and
delivered by Lender and constitutes the legal, valid and binding obligation of
Lender, enforceable against Lender in accordance with its terms except as such
enforceability may be limited by general principles of equity or to applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation and other
similar laws relating to, or affecting generally, the enforcement of applicable
creditors' rights and remedies.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    (c)           The
execution, delivery and performance by Lender of the Transaction Documents to
which it is a party have been duly authorized, and do not (i) conflict with any
of Lender’s organizational documents, (ii) contravene, conflict with,
constitute a default under or violate any material statute, law, rule,
regulation or court decree binding upon or applicable to Lender or its assets or
properties, (iii) contravene, conflict or violate any applicable order,
writ, judgment, injunction, decree, determination or award of any Governmental
Authority by which Lender or any of its property or assets may be bound or
affected, (iv) require any action by, filing, registration, or
qualification with, or governmental approval from, any Governmental Authority
(except such governmental approvals which have already been obtained and are in
full force and effect) or (v) constitute an event of default or give rise
to a right to terminate under any material agreement by which Lender is
bound.

     

    (d)           Lender
is familiar with the business, plans and financial condition of the Company;
Lender has received all materials that have been requested by Lender; Lender has
had a reasonable opportunity to ask questions of the Company and its
representatives, and the Company has answered to the satisfaction of Lender all
inquiries that Lender or Lender’s representatives have put to it. Lender has had
access to all additional information that Lender has deemed necessary to verify
the accuracy of the information set forth in this Agreement, and has taken all
the steps necessary to evaluate the merits and risks of an investment as
proposed under this Agreement.

     

    (e)           Lender
hereby acknowledges and represents that Lender is able to bear the economic risk
which Lender hereby assumes.

     

    (f)       
    Lender understands the various risks of an investment in
the Company as proposed herein and can afford to bear such risks, including,
without limitation, the risks of losing the entire investment.

     

    (g)           Lender
acknowledges that Lender has been informed by the Company of, or is otherwise
familiar with, the nature of the limitations imposed by the Securities Act and
the rules and regulations thereunder on the transfer of the Notes. In
particular, Lender agrees that no sale, assignment or transfer of any of the
Notes acquired by Lender shall be valid or effective, and the Company shall not
be required to give any effect to such a sale, assignment or transfer, unless
(a) the sale, assignment or transfer of such Notes is registered under the
Securities Act, it being understood that the Notes are not currently registered
for sale and that the Company has no obligation to so register the Notes; or (b)
the Notes are sold, assigned or transferred in accordance with all the
requirements and limitations of an exemption from registration under the
Securities Act. Lender further understands that an opinion of counsel
satisfactory to the Company and other documents may be required to transfer the
Notes.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (h)           Lender
acknowledges that the Notes to be acquired will be subject to a stop transfer
order and any certificate or certificates evidencing any Notes shall bear the
following or a substantially similar legend and such other legends as may be
required by state blue sky laws:

     

    
      	
               
      

            	
              “THE
      SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED
      STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
      STATE SECURITIES LAWS.  SUCH SECURITIES MAY NOT BE SOLD, OFFERED
      FOR SALE, PLEDGED OR HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE
      OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO SUCH SECURITIES
      UNDER THE SECURITIES ACT OR AN AVAILABLE EXEMPTION FROM THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT.  ANY SUCH TRANSFER MAY ALSO
      BE SUBJECT TO COMPLIANCE WITH APPLICABLE STATE SECURITIES
      LAWS.”

            

    

     

    (i)       
    Lender will acquire the Notes and any Shares issued
hereunder for Lender’s own account (or, if such individual is married, for the
joint account of Lender and Lender’s spouse either in joint tenancy, tenancy by
the entirety or tenancy in common) for investment and not with a view to the
sale or distribution thereof or the granting of any participation therein in
violation of the securities laws, and has no present intention of distributing
or selling to others any of such interest or granting any participation therein
in violation of the securities laws.

     

    (j)      
     Lender is not entering into this Agreement or
purchasing the Notes as a result of or subsequent to any advertisement, article,
notice or other communication published in any newspaper, magazine or similar
media or broadcast over television or radio, or presented at any seminar or
meeting, or any solicitation by a person other than a representative of the
Company with which Lender had a pre-existing relationship.

     

    
      	
               
      

            	
              5.

            	 	
              Additional Covenants
      of the Company.

            

    

     

    (a)           Notice of Event of
Default.  Upon the occurrence of an Event of Default, the
Company shall notify the Lenders of the nature of such Event of Default as soon
as practicable (but in no event later than five (5) Business Day after the
Company becomes aware of such Event of Default).

    

    (b)           Existing Secured Lenders;
Effectiveness of the Security Document.  The Company
acknowledges that the Lenders’ security interests are a first priority security
interest in the Company. The Company and the Lenders hereby agree that the
Security Document (as defined below) shall be deemed executed, delivered and in
effect, without any further action by any party, effective as of the date (the
“Release
Date”) hereof. As used herein, the term “Security
Document” means the Security Agreement.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    (c)           Optional
Exchange.  Prior to the repayment of any Note outstanding, if
at any time through and including the closing date of the Reverse Merger
Transaction the Company closes the Subsequent Financing,  Lender, in
its sole discretion, may convert the Note for securities of the same type issued
in the Subsequent Financing (such exchange to be made at the same time as the
closing of the Subsequent Financing), on the same terms and conditions as the
Subsequent Financing, based on the outstanding principal amount of the Notes,
plus accrued and unpaid Interest.  By way of example, if the Company
undertakes a Subsequent Financing of convertible debentures and warrants to
purchase shares of a Public Company at the time of a Reverse Merger
Transaction,  Lender may participate in such Subsequent Financing and
use the exchange of the Notes as consideration, on a dollar for dollar basis, in
lieu of cash consideration for the purchase of such Public Company convertible
debentures and warrants at the same purchase price and subject to the same terms
and conditions as other purchasers thereof who are not Lenders. Lender shall
have the right to exercise only a single optional exchange in the Subsequent
Financing.  Should Lender choose not to participate in the Subsequent
Financing, the right of a Lender to elect to exchange Notes under this Section
5(c) shall terminate. The Company shall provide at least three (3) Business Days
prior written notice of the Subsequent Financing in the manner set forth in this
Section and the Note holder must notify the Company in writing at least (1)
Business Day prior to the date set for closing of the Subsequent Financing if
the holder desires to participate in the optional exchange.

    

    6.           Conditions to Lenders’
Obligations at the Closing.  Each Lender’s obligations to
effect the Closing, including without limitation its obligation to purchase its
Note at the Closing, are conditioned upon the fulfillment (or waiver by such
Lender in its sole and absolute discretion) of each of the following events as
of the Closing Date, and the Company shall use commercially reasonable efforts
to cause each of such conditions to be satisfied:

     

    (a)           the
representations and warranties of the Parent and Company set forth in this
Agreement and in the other Transaction Documents shall be true and correct in
all material respects as of such date as if made on such date (except that to
the extent that any such representation or warranty relates to a particular
date, such representation or warranty shall be true and correct in all material
respects as of that particular date);

     

    (b)           the
Parent and Company shall have complied with or performed in all material
respects all of the agreements, obligations and conditions set forth in this
Agreement and in the other Transaction Documents that are required to be
complied with or performed by the Parent or Company on or before the
Closing;

     

    (c)           the
Company shall have executed and delivered to such Lender the Note being
purchased by such Lender at the Closing;

     

    (d)           the
Company shall have delivered to such Lender resolutions passed by its Board of
Directors to authorize the transactions contemplated hereby and by the other
Transaction Documents;

     

    (e)           there
shall have occurred no material adverse change in the Company’s consolidated
business or financial condition since the date of the Company’s most recent
financial statements;

     

    (f)      
     there shall be no injunction, restraining order or
decree of any nature of any court or Governmental Authority of competent
jurisdiction that is in effect that restrains or prohibits the consummation of
the transactions contemplated hereby and by the other Transaction
Documents

     

    7.           Conditions to Company’s
Obligations at the Closing.  The Company’s obligations to
affect the Closing with Lenders are conditioned upon the fulfillment (or waiver
by the Company in its sole and absolute discretion) of each of the following
events as of the Closing Date:

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    (a)           the
representations and warranties of such Lender set forth in this Agreement and in
the other Transaction Documents to which it is a party shall be true and correct
in all material respects as of such date as if made on such date (except that to
the extent that any such representation or warranty relates to a particular
date, such representation or warranty shall be true and correct in all material
respects as of that date);

    

    (b)           such
Lender shall have complied with or performed all of the agreements, obligations
and conditions set forth in this Agreement that are required to be complied with
or performed by such Lender on or before the Closing;

    

    (c)           there
shall be no injunction, restraining order or decree of any nature of any court
or Governmental Authority of competent jurisdiction that is in effect that
restrains or prohibits the consummation of the transactions contemplated hereby
and by the other Transaction Documents; and

    

    such Lender shall have executed each Transaction
Document to which it is a party and shall have delivered the same to the
Company.

     

    8.           Reverse Merger
Transaction.  Parent and Company covenant and agree each Lender
shall have the right to participate, in an amount not to exceed the face value
of such Lender’s Note, plus accrued and unpaid interest, in any Reverse Merger
Financing on the same terms and conditions as all other Lenders in such Reverse
Merger Financing in accordance with terms of this Section 8.

     

    (a)           At
least three (3) Business Days prior to the closing of the Reverse Merger
Financing, the Company shall deliver to Lender a written notice of its intention
to effect a Reverse Merger Financing (“RM Notice”), which RM
Notice shall describe in detail the proposed terms of such Reverse Merger
Financing, the amount of proceeds intended to be raised thereunder and the
person or persons through or with whom such Reverse Merger Financing is proposed
to be effected, including all parties contemplated to participate therein in any
capacity, and shall include a term sheet or similar document relating thereto as
an attachment and any available drafts of contemplated transaction
documentation.

     

    (b)           If
Lender desires to participate in the Reverse Merger Financing, the Lender shall
provide written notice to the Company on or prior to the closing of the Reverse
Merger Financing specifying its election to participate in the Reverse Merger
Financing and the amount of Lender’s participation.  The Lender’s
participation shall be on the same terms and conditions as all other Lenders in
such Reverse Merger Financing.

     

    (c)           If
the contemplated terms of any Reverse Merger Financing change in any material
respect from those set forth in the RM Notice, the Company may not complete the
Reverse Merger Financing unless and until it first provides to Lender another RM
Notice containing the currently contemplated terms of the Reverse Merger
Financing (and offering the Lender the right to participate as set forth herein)
at least two (2) Business Days prior to the closing of such revised Reverse
Merger Financing.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    (d)           As
a condition to closing a Reverse Merger Transaction, the Company shall cause the
Public Company to be bound by the terms and provisions of this Agreement as if
Public Company had executed this Agreement as a party hereto, to be bound by the
provisions with regard to the “Public Company” hereunder in all
respects.

     

    
      9.        
  Restricted Stock
Issuance.

    

     

    (a)           Upon
the closing of a Subsequent Financing that is related to a Reverse Merger
Transaction, the Public Company shall issue to each Lender without further
consideration, such number of restricted shares of Common Stock of the Company
as shall be equal to thirty (30%) percent of the face value of each Note, plus
accrued and unpaid interest, at a price per share equal to the price per share
at which the Public Company completes the Subsequent
Financing.  Should the Company not complete a Subsequent Financing
related to a Reverse Merger Transaction within One Hundred and Eighty (180) days
of the Closing Date, the Company’s obligation to issue the restricted shares of
Common Stock under this Section 9(a) shall be satisfied upon the issuance to
Note holders of such number of shares of Common Stock of the Company to each
Lender as shall represent thirty (30%) percent of the principal amount of face
value of each Note, at a price per share equal to a market value of the Company,
on a per share basis, based upon $2.5 million as the total pre-money market
value of the Company, on a fully-diluted basis.

     

    (b)           Notwithstanding
anything contained herein to the contrary, if the Company does not pay the
principal and interest due on the Notes within forty-five (45) days following
the Maturity Date, the Company shall, in lieu of the issuance described above in
Section 9(a), issue Lenders in the aggregate Common Stock equal to ten percent
(10%) of the issued and outstanding Common Stock of the Company, on a fully
diluted basis, pro-rata, to the Lenders.

     

    10.         General
Provisions.

     

    (a)           Governing Law;
Jurisdiction.  THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS
BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO PRINCIPLES OF
CONFLICTS OF LAWS.  THE COMPANY CONSENTS TO THE EXCLUSIVE JURISDICTION
OF THE FEDERAL OR STATE COURT LOCATED IN NEW YORK, NEW YORK, WITH RESPECT TO ANY
CLAIM OR CONTROVERSY RELATED TO THE ENFORCEMENT OR INTERPRETATION OF THIS
NOTE.

     

    (b)           Notices.  Any
notice or other communication required or permitted to be given hereunder shall
be in writing by mail, facsimile or personal delivery and shall be effective
upon actual receipt of such notice.  The addresses for such
communications shall be as set forth below until notice is received that any
such address or contact information has been changed:

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    
      
        
          
            	
                    To
      the Company or Parent:

                  	 
      	
                    rVue,
      Inc.

                  
	 
      	 
      	
                    900
      S.E. 3rd Avenue, Third Floor

                  
	 
      	 
      	
                    Fort
      Lauderdale, FL 33316

                  
	 
      	 
      	
                    Att:
      Jason Kates, CEO

                  
	 
      	 
      	
                    T:
      954.525.6464

                  
	 
      	 
      	
                    F:
      954.728.9029

                  
	 
      	 
      	 
      
	
                    With
      a copy to:

                  	 
      	
                    Akerman
      Senterfitt

                  
	 
      	 
      	
                    One
      S.E. Third Avenue, Suite 2500

                  
	 
      	 
      	
                    Miami,
      FL 33131-1714

                  
	 
      	 
      	
                    Att:
      Jonathan L. Awner, Esq.

                  
	 
      	 
      	
                    T:
      305-982-5615

                  
	 
      	 
      	
                    F:
      305-374-5095

                  
	 
      	 
      	 
      
	
                    To
      Lender:

                  	 
      	
                    To
      the address on the signature page attached

                  
	 
      	 
      	
                    hereto.

                  

          

        

      

    

     

    (c)           Entire
Agreement.  Except as otherwise provided herein, this
Agreement, the Note and the other documents delivered pursuant hereto constitute
the full and entire understanding and agreement between the parties with regard
to the subjects hereof and thereof.

     

    (d)           Amendment.  This
Agreement may only be amended, waived, discharged or terminated by a written
instrument signed by the party against whom enforcement of any such amendment,
waiver, discharge or termination is sought.

     

    (e)           Successors and
Assigns.  This Agreement and the Note may be transferred or
assigned by Lender in whole or in part, in Lender’s sole and absolute
discretion.  Except as otherwise expressly provided in this Agreement,
the provisions of this Agreement shall inure to the benefit of, and be binding
upon, the successors, assigns, heirs, executors and administrators of the
parties hereto.

     

    (f)        
   Severability.  In
case any provision of this Agreement shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

     

    (g)           Titles and
Subtitles.  The titles of the Sections of this Agreement are
for convenience of reference only and are not to be considered in construing
this Agreement.

     

    (h)           Expenses.  The
Company and Lender shall each bear their own expenses incurred with respect to
this transaction.

     

    (i)       
    Counterparts.  This
Agreement may be executed in any number of counterparts, each of which shall be
an original, but all of which together shall be deemed to constitute one
instrument.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    (j)        
   Counsel.  All
parties hereto have been represented by counsel, and no inference shall be drawn
in favor of or against any party by virtue of the fact that such party’s counsel
was or was not the principal draftsman of this Agreement. Each of the parties
has been provided the opportunity to be represented by counsel of its choice and
has been encouraged to seek separate representation to the extent that it deems
such desirable, but the absence of such shall not be asserted as a basis for the
enforceability or interpretation of any of the terms or provisions of this
Agreement, or as a reason to seek disqualification of the Company’s counsel in
any controversy or proceeding.

     

    [SIGNATURE
PAGE TO FOLLOW]

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the undersigned
have executed this Agreement as of the date first-above written.

    

    
      
        	
                ARGO
      DIGITAL SOLUTIONS, INC.

              
	 
      
	
                By:

              	
                   

              
	 
      	
                Jason
      Kates

              
	 
      	
                Chief
      Executive Officer

              
	 
      
	
                RVUE,
      INC.

              
	 
      
	
                By:

              	
                   

              
	 
      	
                Jason
      Kates

              
	 
      	
                Chief
      Executive Officer

              

      

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    [SIGNATURE
PAGE FOR NOTE PURCHASE AGREEMENT]

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  	
                                          By:

                                        	
                                             

                                        	 	 
      
	 
      	 
      	 	 
      
	 
      	 
      	 	 
      
	
                                          Principal
      Amount of Note Purchased at Closing:

                                        	 	
                                          $______________

                                        
	 
      	 
      	 	 
      
	
                                          ADDRESS:

                                        	 	 
      
	
                                             

                                        	 	 
      
	 	 	 
	
                                             

                                        	 	 
      
	 	 	 
	
                                             

                                        	 	 
      

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    Exhibit
A

     

    Form
of Secured Promissory Note

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    Exhibit
B

     

    Security
Agreement

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    Schedule
I

     

    Permitted
Indebtedness

     

    
      	
               
      

            	
              1.

            	
              Capital
      lease obligations in the maximum amount of $5,000 for
      equipment.

            

    

    
      
         

      

      
        18

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}]]