Document:

YOU On Demand Holdings, Inc.: Exhibit 10.9 - Filed by newsfilecorp.com

	JOINT VENTURE
      AGREEMENT 

PARTIES: 

Frequency Networks, Inc., 
a Delaware corporation 

Address (place of business, phone, fax, e-mail) 
4526
Wilshire Blvd, Los Angeles, CA 90010 
Phone +1 323 825 4500

b@frequency.com 

Represented by (name, position, address) 
Blair Harrison,
CEO 

Referred to as “FREQUENCY” 

YOU On Demand Holdings, Inc., 
A Nevada corporation 

Address (place of business, phone, fax, e-mail) 
375
Greenwich Street, Suite 516, New York NY 10013 
Phone +1 212 206 1216 

Represented by (name, position, address) 
Mingcheng Tao, CEO

Referred to as “YOD” 

FREQUENCY and YOD are together referred to as “the Parties” and
individually as a “Party”. 

Background 

A. FREQUENCY and YOD (the “Parties”) have agreed to form a new
jointly owned company (the “JVC”), which shall be established and carry on
business in the manner set out in this agreement (“Agreement”). 

B. The Parties have agreed that their relations as shareholders
in the JVC shall be governed by the terms of this Agreement. 

	1. 	
      INTERPRETATION

1.1.     In this Agreement the following
terms shall have the following meanings: 

1.1.1.     “Board” means the Board of
Directors of the JVC; 

1.1.2.     “Business” means the Business to
be carried on by the JVC as defined in Article 2.1 and in accordance with the
Business Plan as updated by the Board from time to time; 

1.1.3.     “Territory” means Singapore,
Brunei, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Laos, Cambodia,
Myanmar and China, including Hong Kong, Macao and Taiwan; 

1.1.4.     “Closing” means completion of
the establishment of the JVC in accordance with Article 4; 

1.1.5.     “Member of the YOD Group” means
YOD and any direct or indirect subsidiary or parent company of YOD or any entity
controlling, controlled by or under common control with YOD; 

1.1.6.     “Shares” means shares in the
capital of the JVC; 

1.2.     Any reference in this Agreement to
an amount in United States Dollars and Chinese Renminbi shall include its market
rate equivalent at the relevant time in any other currency. 

	2. 	
      BUSINESS OF JVC

2.1.     The Parties wish to establish the
JVC for the purpose of (the “Business”) as follows: 

1)     Launch
FREQUENCY in Territory to deploy MCN, digital networks and OTT content in
Territory, including but not limited to the following business models: a. Direct
To Consumer in one or several branded mobile applications b. Business To
Business integrated with cable and mobile operators 

2)     FREQUENCY
shall undertake 3rd Party Integrations that will include but are not limited to:

a.     ChatTV --
Integration with FREQUENCY platform to facilitate social video commerce services
cross platforms 

b.     RSI --
Integration with FREQUENCY platform to dynamically source goods and facilitate
billing and fulfillment 

3)     Creating
OTT packages and digital networks that will aggregate both Parties’ licensed
content into branded, genre-specific channels, which may include, but are not
limited to, all genre referenced in the FREQUENCY mobile app channel offering,
an example of which is Exhibit A, and as may be changed or updated from time to
time at the discretion of YOD. Furthermore:

	 	 	 	a. 	
      YOD and Frequency will be exclusive partners to create
      Direct to Consumer content channels or network of channels that
      incorporate the following business model:

	 	 	i. 	
      integrates a major brand or anchor content partner;
      and

	 	 	ii. 	
      integrates content licensed by the JV and / or its JV
      partners, where licenses permit; and

	 	 	iii. 	
      integrates original programming; and

	 	 	iv. 	
      integrates JV related 3rd party
      applications

	 	 	 	b. 	
      This will not limit Frequency’s ability
  to:

	 	 	i. 	
      enable its Content or Distribution partners to create
      their own branded channels or networks of channels; or

	 	 	ii. 	
      receive a carried interest in a channel for providing
      services to a content or distribution partner; or

	 	 	iii. 	
      curate its own channels outside of the JV Territory that
      do not conflict with the business model referenced in section (a),
      above.

4)   
 Distribution Rights: 

	 	a. 	JVC will have exclusive distribution
rights for the use of both these channels and content within the Territory. 
	 	 	 
	 	b.	FREQUENCY will have exclusive distribution rights for these
    channels outside the Territory and will be obliged to provide such content
    to 3rd parties and other vendors outside the Territory, provided, however,
    that YOD acknowledges that Frequency can only make such
content available to 3rd parties on Frequency’s platform but
Frequency cannot assure that such 3rd parties will accept such
content.

FREQUENCY will offer all JVC aggregated, created or otherwise
developed content through its operations outside the Territory. When doing so,
FREQUENCY will use commercially reasonable efforts to advance all 3rd Party Integrations with the distribution of all JVC content 

5)     The JVC is
intended to facilitate the aggregation and deployment of YOD and FREQUENCY
technology and platform to maximize advertising revenue opportunities and any
other revenue opportunities that may be applicable. 

2.2     The Parties
will create a three (3) year business plan (“Business Plan”), which shall be
reviewed at least every twelve (12) months. The Business Plan shall define the
business objectives of the Parties with respect to the JVC. 

2.3     Each party
shall act in good faith towards the other in order to promote the JVC’s success.
The Parties confirm their intention to consult on matters materially affecting
the development of the Business and the execution of the Business Plan. 

	3. 	
      Establishment of JVC

	 	3.1. 	
      The Parties shall form the JVC entity in Singapore or
      such other country as determined by the Parties. The JVC shall not trade
      or carry on Business in any manner prior to Closing.

	 	 	 
	 	3.2. 	
      Each party shall use commercially reasonable efforts to
      ensure that the formation of the JVC is accomplished as soon as possible
      and shall notify the other promptly of any difficulties encountered. If
      the formation of the JVC has not occurred by May 31, 2016, this Agreement
      (other than the provisions of Article 12 (confidentiality) and Article 24
      (disputes resolution procedure)) shall, unless otherwise agreed, thereupon
      automatically cease and terminate and neither party shall have any claim
      of any nature whatsoever against the other party, provided, however, that
      in any event YOD shall have the exclusive right to enter into a joint
      venture with Frequency with respect to the Territory for a period of 2
      years from the date hereof.

	4. 	
      Establishment of JVC:
Closing

	 	4.1. 	
      Closing shall take place on May 31, 2016, when the
      following events and matters set out in this Article 4 shall take place.
      If not previously formed under Article 3.1, the Parties shall cause the
      JVC to be incorporated with the following
  characteristics:

4.1.1.     The JVC
shall be formed in Singapore or other country as is determined by YOD with the
consent of Frequency which shall not be unreasonably withheld;

4.1.2.     The
Articles of Association and Bylaws of the JVC shall be in a form acceptable to
YOD. with the consent of Frequency which shall not be unreasonably withheld;

4.1.3.     The
name of the JVC shall be “Frequency Asia”; [YOD to confirm] 

4.1.4.     The
registered office of the JVC shall be determined by YOD with the consent of
Frequency which shall not be unreasonably withheld; 

	5. 	
      Capital and further
finance

	 	5.1. 	
      The JVC shall, in accordance with and following
      completion of the events and transactions referred to in Article 4, have
      an issued share capital of 49% Shares owned by FREQUENCY and 51% Shares
      owned by YOD.

	 	5.2. 	
      The share capital of the JVC may from time to time be
      increased by such sum as shall be mutually agreed but so that in any
      event, unless otherwise agreed, the increased share capital of the JVC
      shall be held in the proportions of 49% by FREQUENCY and 51% by YOD (or
      member(s) of the YOD Group).

	 	5.3. 	
      If the JVC shall in the opinion of the Board require
      further financial investment, the JVC shall first approach its own banking
      sources. Neither party shall be obliged to provide any further financial
      investment to the JVC. Any further financial investment that the Parties
      do agree to provide shall (unless otherwise agreed) be provided by the
      Parties in proportion to their shareholding (whether by way of
      subscription of share capital, loans or otherwise), unless otherwise
      mutually agreed; provided, however, that any such further financial
      investment must be paid back by the JVC to such parties prior to any
      distributions or dividends being made to the parties including pursuant to
      Section 10 contained herein.

	 	5.4. 	
      The Parties shall not be obliged to provide financing or
      guarantees thereof in respect of any borrowings of the JVC.

	 	5.5. 	
      Frequency hereby agrees that upon the execution of this
      Agreement and the closing of the Stock Purchase Agreement pursuant to
      which YOD will invest $3 million in Freqeuncy, the Warrant attached hereto
      as Exhibit B (the “Warrant”) shall be issued to YOD. The Warrant shall be
      fully vested and give YOD the immediate right to purchase up to 3,000,000
      shares of Series A Preferred Stock (as adjusted for any stock dividends,
      combinations, splits or the like with respect to such shares) at an
      exercise price of $0.42467 per share (as adjusted for any stock dividends,
      combinations, splits or the like).

	6. 	
      Directors and
Management

	 	6.1. 	
      The Business and affairs of the JVC shall (subject to the
      Reserved Matters referred to in Article 7) be managed by the Board of the
      JVC. The Board shall consist of five (5) persons of
  which:

6.1.1.    
FREQUENCY shall be entitled to appoint and maintain in office two (2) directors
(“FREQUENCY Directors”) and to remove any director so appointed from office (and
to appoint another in the place of any director so removed); and 

6.1.2.     YOD shall be entitled to
appoint and maintain in office three (3) directors (“YOD Directors”) and to
remove any director so appointed from office (and to appoint another in the
place of any director so removed).

6.1.3.     Should
the JVC be domiciled in Singapore, YOD will appoint the required Singaporean
Director. 

	 	6.2. 	
      Each appointment and removal by FREQUENCY or YOD of a
      director pursuant to its entitlement shall be notified in writing to the
      other party and the JVC. FREQUENCY and YOD shall each use their respective
      votes in the JVC to ensure that persons appointed in the manner set out in
      this Agreement constitute the Board of the JVC.

	 	6.3. 	
      At least 14 days written notice shall be given to each
      member of the Board of any meeting of the Board, provided always that a
      shorter period of notice may be given with the written approval of at
      least one (1) FREQUENCY director and at least one (1) YOD director. Any
      such notice shall include an agenda identifying in reasonable detail the
      matters to be discussed at the meeting and shall be accompanied by copies
      of any relevant papers. The Board shall meet regularly (either
      telephonically, by video conference or in person) and, unless otherwise
      agreed, not less than quarterly.

	 	6.4. 	
      The quorum for the transaction of Business at any meeting
      of the Board shall be at least one (1) FREQUENCY director and at least two
      (2) YOD director present at the time when the relevant Business is
      transacted.

	 	6.5. 	
      The Chairman shall be appointed from among the YOD
      directors. At any meeting of the Board, each director and the Chairman
      shall be entitled to one vote. Any decision of the Board in favor of a
      resolution (“Board Resolution”), to be valid, shall require the positive
      vote of a majority of the directors present at such meeting. Any Board
      Resolution regarding a Reserved Matter, as defined in Section 7 (“Reserved
      Matter Resolution”), shall require at least one (1) FREQUENCY director and
      at least one (1) YOD director to be valid.

	7. 	
      Reserved Matters

	 	7.1. 	
      The following matters (“Reserved Matters”) shall require
      a Reserved Matter Resolution:

7.1.1.     Any
issue of Shares (or securities convertible into Shares) of the JVC; 

7.1.2.     Any
material alteration to the Articles of Association and Bylaws of the JVC; 

7.1.3.     Any
sale of the whole or any substantial part of the JVC; 

7.1.4.     Any
borrowing by the JVC that would result in the aggregate borrowings of the JVC
being in excess of $250,000 or such other amount as the Parties shall from time
to time determine; 

7.1.5.    
Approval of the annual budget and operating plan of the JVC; 

7.1.6.     Any
expansion of the operating and marketing territory of the JVC beyond the
Territory; 

7.1.7.     Any
material reorganization affecting the JVC, including the formation of any
subsidiary of the JVC; 

7.1.8.     Any
agreement or commitment by the JVC having a value or likely to involve
expenditure by the JVC in excess of $250,000 (or such other limit as the Parties
shall from time to time agree); 

7.1.9.     The
appointment (or removal) of the auditors of the JVC or any significant change in
the accounting policies of the JVC; 

7.1.10.    Any change
for a particular year in the dividend policy specified in Article 10; 

7.1.11.    The
commencement, settlement or abandonment of litigation or admission of liability
by the JVC involving a dispute in excess of $250,000; 

7.1.12.    Any payment
by the JVC to FREQUENCY or Member of the YOD Group (whether by way of management
or administrative charges, bonus, license fees, repayment of loan, dividends or
otherwise) unless within permitted limits first approved via Board Resolution;

7.1.13.    Filing by
the JVC for receivership, reorganization, bankruptcy or liquidation under any
insolvency laws or any similar action; and 

7.1.14.    Any
fundamental change to the nature of the business of the JVC.

	 	7.2. 	
      The provisions of Article 7.1 shall apply equally to any
      matters undertaken by a subsidiary of the JVC as if references therein to
      “the JVC” included, where appropriate, any such
  subsidiary.

	8. 	
      General meetings

	 	8.1. 	
      General meetings of the Parties as shareholders in the
      JVC shall take place in accordance with the applicable provisions of the
      Articles of Association and Bylaws which shall include terms
  that:

8.1.1.     The
quorum for transaction of any Business shall require the presence of a duly
authorized representative of Frequency and two authorized representatives of
YOD; and 

8.1.2.     The
notice of meeting shall set out an agenda identifying in reasonable detail the
matters to be discussed (unless the Parties agree otherwise). 

	9. 	
      Additional contributions of the
  Parties

	 	9.1. 	
      It is intended that each party will contribute particular
      knowledge, skills and services to assist the establishment and success of
      the JVC. The responsibilities of each party are set out in this Article 9.
      The responsibilities of the Parties shall include both “General
      Contributions”, which shall be provided to the JVC at no charge, and
      “Services” for which the Parties shall be compensated by the
  JVC.

	 	9.2. 	
      The General Contributions of FREQUENCY to the JVC shall
      initially be as given below, and as amended via Board Resolution from time
      to time:

9.2.1.    
Platform: Exclusive use of the FREQUENCY platform in the Territory 

9.2.2.    
Content: Use of FREQUENCY licensed content as per the commercial agreements with
licensors within the Territory 

	 	9.3. 	
      The General Contributions of YOD to the JVC shall
      initially be as given below, and as amended via Board Resolution from time
      to time:

9.3.1.    
Content: Use of YOD Group content as per the commercial agreements with
licensors 

9.3.2.     Sales
and Marketing: sales and marketing within the Territory 

9.3.3.    
Operating Capital as determined by YOD 

	 	9.4. 	
      The Services that the Parties will provide to the JVC
      will be determined by YOD as part of the Business Plan.

	 	9.5. 	
      Each party will use commercially reasonable efforts to
      provide its contribution to promote the success of the JVC. Each party
      shall provide its contributions towards the JVC using such diligence and
      skill as is reasonable in the circumstances. It is understood that the JVC
      daily operations will be supported by JVC staff and staff from the
      Parties. The JVC will be responsible for costs associated with support
      from the Parties.

	10. 	
      Dividend policy

The Parties agree that (unless
otherwise agreed under Article 7 in relation to a particular financial year) the
JVC shall distribute by way of dividend not less than fifty (50)% of the audited
after tax profit in relation to each financial year.

	11. 	
      Transfer of Shares

11.1.     Unless it
is a transfer made with the prior written consent of the other party, neither
FREQUENCY nor YOD shall sell, transfer, pledge, charge, dispose of or otherwise
deal with any right or interest in any of its Shares in the JVC (including the
grant of any option over or in respect of any Shares). 

11.2.     Consent
shall not unreasonably be withheld for a transfer by a party to a member of its
own group. Each of FREQUENCY and YOD, respectively, undertakes to procure that,
if any member of its group which holds Shares in the JVC ceases at any time to
be a wholly owned subsidiary of that party, that subsidiary shall first transfer
beneficially all its Shares in the JVC back to the relevant party (or another
member of its group).

11.3.     No
transfer of Shares of the JVC shall in any event be registered or become
effective unless the transferee shall first have entered into an agreement
undertaking to be bound by this Agreement (including this Article 11) to the
same extent as the transferor would have been bound had the transfer not been
effected.

	12. 	
      Confidentiality

12.1.     Each of
the Parties shall at all times use all reasonable efforts to keep confidential
(and to ensure that its employees and agents keep confidential) all commercial
and technical information which it may acquire (i) in relation to the JVC or
(ii) in relation to the clients, business or affairs of the other party (or any
member of its respective group). 

Neither party shall use or disclose any
such information except with the consent of the other party or, in the case of
information relating to the JVC, in the ordinary course of advancing the JVC’s
Business. The restriction in this Article 12.1 shall not apply to any
information that is: 

12.1.1.    
Publicly available through no fault of that party;

12.1.2.    
Already in the possession of that party prior to its disclosure without any
obligation of confidentiality; or 

12.1.3.    
Required to be disclosed by that party pursuant to any law, stock exchange
regulation or binding judgment, order or requirement of any court or other
competent authority.

12.2.     Each
party shall cause its respective officers, employees and agents observe a
similar obligation of confidence in favor of the Parties to this Article 12. The
provisions of this Article 12 and Article 3.2 shall survive any termination of
this Agreement. 

	13. 	
      Supremacy of this
Agreement

13.1.     The
Parties agree that the Articles of Association and Bylaws are consistent with
the terms of this Agreement. If there is any conflict between this Agreement and
the Articles of Association and Bylaws, the terms of this Agreement shall
prevail and such changes to the Articles of Association and Bylaws shall be made
to give effect to this Agreement. 

	14. 	
      Force majeure

14.1.     “Force
majeure” means war, emergency, accident, fire, earthquake, flood, storm,
industrial strike or other impediment which the affected party proves was beyond
its control and that it could not reasonably be expected to have taken the
impediment into account at the time of the conclusion of this Agreement or to
have avoided or overcome it or its consequences.

14.2.     A party
affected by force majeure shall not be deemed to be in breach of this Agreement,
or otherwise be liable to the other, by reason of any delay in performance, or
the non-performance, of any of its obligations under this Agreement to the
extent that the delay or non-performance is due to any force majeure of which it
has notified the other party in accordance with Article 14.3. The time for performance
of that obligation shall be extended accordingly, subject to Article 14.4.

14.3.     If any
force majeure occurs in relation to either party which affects or is likely to
affect the performance of any of its obligations under this Agreement, it shall
within a reasonable time notify the other party as to the nature of the
circumstances in question and their effect on its ability to perform.

14.4.     If the
performance by either party of any of its obligations under this Agreement is
prevented or delayed by force majeure for a continuous period in excess of six
months, the Parties shall negotiate in good faith, and use their best endeavors
to agree upon such amendments to this Agreement or alternative arrangements as
may be fair and reasonable with a view to alleviating its effects, but if they
do not agree upon such amendments or arrangements within a further period of 30
days, the other party shall be entitled to terminate this Agreement by giving
written notice to the Party affected by the force majeure. 

	15. 	
      Costs

The costs of, and incidental to, the
incorporation of the JVC shall be borne and paid by the JVC. Each party shall
(unless otherwise agreed) bear its own costs incurred in the preparation,
execution and performance of this Agreement.

	16. 	
      No partnership or agency

Nothing in this Agreement shall (i) be
deemed to constitute a partnership in law between the Parties, (ii) constitute
either party the agent of the other for any purpose or (iii) entitle either
party to commit or bind the other (or any member of its respective group) in any
manner.

	17. 	
      Assignment and
subcontracting

17.1.     This
Agreement is personal to the Parties and neither party shall without the prior
written approval of the other: 

17.1.1.    
Assign, mortgage, charge or otherwise transfer or deal in, or create any trust
over, any of its rights; provided, however, that in the event a Closing does not
occur and YOD is granted rights pursuant to Section 3.2 then it may assign,
mortgage, charge or otherwise transfer or deal in, or create any trust over its
rights; or 

17.1.2.    
Subcontract or otherwise delegate the whole or any part of its rights or
obligations under this Agreement to another person; provided, however, that in
the event a Closing does not occur and YOD is granted rights pursuant to Section
3.2 then it may subcontract or otherwise delegate the whole or any part of its
rights or obligations under this Agreement to another person. 

17.2.    
Notwithstanding the above, any assignment, mortgage, charge, or other such
disposition may be made by either Party without prior written consent if made to
or for the benefit of affiliated companies, subsidiaries, or partner
entities.

	18. 	
      Notices

18.1.     Any
notice under this Agreement shall be in writing (which may include e-mail) and
may be served by leaving it or sending it to the address of the other party as
specified in Article 18 below, in a manner that ensures receipt of the notice
can be proved.

18.2.     For the
purposes of Article 18, notification details are the following, unless other
details have been duly notified in accordance with this Article 18 

18.2.1.    
FREQUENCY: 

18.2.1.1.     if
via email to notices@frequency.com;

18.2.1.2.     if
via mail to Attn: CEO, Frequency Networks, Inc., 4526 Wilshire Blvd, Los
Angeles, CA 90010 

18.2.2.     YOD:
if via email to __________________; 

18.2.3.     If via
mail to YOU on Demand Holdings, Inc., 375 Greenwich Street, Suite 516, New York,
NY 10013; with a copy to 
William N. Haddad, Cooley LLP, 1114 Avenue of the
Americas, New York, NY 10036; whaddad@cooley.com; . 

	19. 	
      Entire
agreement/variations

19.1.     This
Agreement sets out the entire agreement between the Parties with respect to the
JVC. Neither party has entered into this Agreement in reliance upon any
representation, warranty or undertaking of the other party that is not expressly
set out or referred to in this Agreement. This Article shall not exclude any
liability for fraudulent misrepresentation. 

19.2.     This
Agreement may not be varied except by agreement in writing between the Parties.

	20. 	
      Effect of invalid or unenforceable
    provisions

20.1.     If any
provision of this Agreement is held by any court or other competent authority to
be invalid or unenforceable in whole or in part, this Agreement shall continue
to be valid as to its other provisions and the remainder of the affected
provision, unless it can be concluded from the circumstances that (in the
absence of the provision found to be null and void) the Parties would not have
concluded this Agreement. The Parties shall use all reasonable efforts to
replace all provisions found to be null and void by provisions that are valid under the
applicable law and come closest to their original intention. 

	21. 	
      Dispute resolution
procedure

21.1.     If a
dispute arises out of this Agreement, the Parties shall seek to resolve it on an
amicable basis. They shall consider the appointment of a mediator to assist in
that resolution. No party shall commence legal or arbitration proceedings unless
30 days’ notice has been given to the other party.

21.2.     Any
dispute, controversy or claim arising out of or relating to this Agreement,
including its conclusion, interpretation, performance, breach, termination or
invalidity, shall be finally settled by the courts of the State of Delaware in
the United States which will have exclusive jurisdiction.

	22. 	
      Termination

22.1.     In the
event that the JVC does not achieve mutually agreed upon operating objectives,
YOD and FREQUENCY will agree on necessary provisions to terminate the JVC
including but not limited to the wind down of operations, servicing existing
customers, and the distribution of assets; provided, that Section 3.2 herein
shall survive. 

	23. 	
      Applicable law

23.1.     Delaware
law shall apply to this Agreement, without regard to conflicts of law
principles. 

[Signature pages follow.] 

SIGNATURES OF THE PARTIES 

Signed for and on behalf of FREQUENCY 

	 	FREQUENCY NETWORKS, INC. 
	 	  
	 	  
	 	By:  	/s/
      Blair Harrison  
	 		Blair Harrison  
	 		Chief Executive
  Officer  

	 	Address: 	4526 Wilshire Blvd. 
	 	  	Los Angeles, CA 90010 

Signed for and on behalf of YOD 

	 	YOU ON DEMAND HOLDINGS, INC. 
	 	  
	 	  
	 	By:  	/s/ Bruno Wu
	 		Bruno Wu  
	 		Chairman  

	 	Address: 	375 Greenwich Street, Suite 516 
	 	 	New York, NY
  10013  

Exhibit A 

	Animals 
	Animation 
	Apps 
	Arts 
	Automotive 
	Best of Web 
	Business 
	Celebrity 
	Comedy 
	Design 
	Education 
	Fashion 
	Food 
	Gaming 
	Health&Fitness 
	How Tos 
	Ideas 
	Kids 
	Lifestyle 
	Movies 
	Music 
	Nature 
	News 
	News–Local 
	Original Web Shows 
	Politics 
	Reseaux Francais 
	Science 
	Space 
	Sports 
	Sports–Extreme 
	TV 
	Tech 
	Top Vlogs 
	Travel 
	Viral Video 
	Japanese 

Exhibit B 

Form of Warrant 

	
      THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE
      BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION
      WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY
      BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR
      AN OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE COMPANY
      THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933,
      AS AMENDED. 

Date of Issuance: April __, 2016 

FREQUENCY NETWORKS, INC. 

Warrant to Purchase Series A Preferred Stock

Frequency Networks, Inc., a Delaware corporation (the
“Company”), for value received, hereby certifies that YOU On
Demand Holdings, Inc. or its registered assigns (the “Registered
Holder”), is entitled, subject to the terms set forth below, to purchase
from the Company, at any time after the date hereof and on or before the
Expiration Date (as defined in Section 1 below) the Shares (as defined below) at
the Exercise Price (as defined in Section 1 below).

1.     Certain
Definitions.

(a)     The term “Exercise
Price” shall mean $0.42467 per share (as adjusted from time to time
pursuant to the provisions hereof).

(b)     The term “Expiration
Date” shall mean the six (6) year anniversary of the date of this
Warrant. 

(c)     The term “Shares”
shall mean up to 3,000,000 shares of the Company’s Series A Preferred Stock (the
“Series A Preferred Stock”) issuable upon exercise of this
Warrant.

2.     Exercise. 

(a)     Manner of
Exercise. This Warrant may be exercised by the Registered Holder,
in whole or in part, by surrendering this Warrant, with the purchase/exercise
form appended hereto as Exhibit A duly executed by such Registered Holder
or by such Registered Holder’s duly authorized attorney, at the principal office
of the Company, or at such other office or agency as the Company may designate,
accompanied by payment in full of the Exercise Price payable in respect of the
number of Shares purchased upon such exercise. The Exercise Price may be paid by
cash, check or wire transfer. 

(b)     Effective Time of
Exercise. Each exercise of this Warrant shall be deemed to have
been effected immediately prior to the close of business on the day on which
this Warrant shall have been surrendered to the Company as provided in Section
2(a) above. At such time, the person or persons in whose name or names any
certificates for Shares shall be issuable upon such exercise as provided in
Section 2(d) below shall be deemed to have become the holder or holders of
record of the Shares represented by such certificates. 

(c)     Net Issue
Exercise. 

      (i)     In
lieu of exercising this Warrant in the manner provided above in Section 2(a),
the Registered Holder may elect to receive shares equal to the value of this
Warrant (or the portion thereof being canceled) by surrender of this Warrant at
the principal office of the Company together with notice of such election on the
purchase/exercise form appended hereto as Exhibit A duly executed by such
Registered Holder or such Registered Holder’s duly authorized attorney, in which
event the Company shall issue to such Registered Holder a number of Shares
computed using the following formula: 

X = Y (A - B) A 

Where          
X =  The number of Shares to be issued to the Registered Holder. 

                      
Y =  The number of Shares purchasable under this Warrant (at the date of
such calculation). 

                       A
=  The fair market value of one Share (at the date of such calculation).

                       B
=  The Exercise Price (as adjusted to the date of such calculation). 

      (ii)    
For purposes of this Section 2(c), the fair market value of a Share on the date
of calculation shall mean: 

(A)     if the exercise is in connection
with an initial public offering of the Company’s Common Stock (an
“IPO”), and if the Company’s Registration Statement relating to
such public offering has been declared effective by the Securities and Exchange
Commission, then the fair market value shall be the product of (x) the initial
“price to public” per share specified in the final prospectus with respect to
the offering and (y) the number of shares of Common Stock into which each Share
is convertible at the date of calculation; 

(B)     if this Warrant is exercised after,
and not in connection with, an IPO, and if the Company’s Common Stock is traded
on a national securities exchange or actively traded over-the-counter: 

(1)     if the Company’s Common Stock is
traded on a national securities exchange, the fair market value shall be deemed
to be the product of (x) the average of the closing prices over a thirty (30)
day period ending three (3) days before date of calculation and (y) the number
of shares of Common Stock into which each Share is convertible on such date;

(2)     if the Company’s Common Stock is
actively traded over-the-counter, the fair market value shall be deemed to be
the product of (x) the average of the closing bid or sales price (whichever is
applicable) over the thirty (30) day period ending three (3) days before the
date of calculation and (y) the number of shares of Common Stock into which each
Share is convertible on such date; or 

(C)     if neither (A) nor (B) is
applicable, the fair market value of a Share shall be at the highest price per
share which the Company could obtain on the date of calculation from a willing
buyer (not a current employee or director) for a Share sold by the Company, from
authorized but unissued shares, as determined in good faith by the Board of
Directors. 

2 

(d)     Delivery to
Holder. As soon as practicable after the exercise of this Warrant
in whole or in part, and in any event within five (5) days thereafter, the
Company at its expense will cause to be issued in the name of, and delivered to,
the Registered Holder, or as such Registered Holder (upon payment by such
Registered Holder of any applicable transfer taxes) may direct: 

     
(i)      a certificate or certificates for the number
of Shares to which such Registered Holder shall be entitled, and

      (ii)    
 in case such exercise is in part only, a new warrant or warrants (dated
the date hereof) of like tenor, calling in the aggregate on the face or faces
thereof for the number of Shares equal (without giving effect to any adjustment
therein) to the number of such shares called for on the face of this Warrant
minus the number of such shares purchased by the Registered Holder upon such
exercise as provided in Section 2(a) or 2(c) above. 

3.     Adjustments.

(a)     Redemption or Conversion of
Preferred Stock. If all of the Series A Preferred Stock for which
this Warrant is exercisable (the “Warrant Stock”) is redeemed or
converted into shares of Common Stock, then this Warrant shall automatically
become exercisable for that number of shares of Common Stock equal to the number
of shares of Common Stock that would have been received if this Warrant had been
exercised in full and the shares of Warrant Stock received thereupon had been
simultaneously converted into shares of Common Stock immediately prior to such
event, and the Exercise Price shall be automatically adjusted to equal the
number obtained by dividing (i) the aggregate Exercise Price of the shares of
Warrant Stock for which this Warrant was exercisable immediately prior to such
redemption or conversion, by (ii) the number of shares of Common Stock for which
this Warrant is exercisable immediately after such redemption or conversion.

(b)     Stock Splits and
Dividends. If the outstanding shares of the Warrant Stock (or
Common Stock issued upon conversion thereof) shall be subdivided into a greater
number of shares or a dividend in securities of the Company shall be paid in
respect of shares of Warrant Stock (or Common Stock issued upon conversion
thereof), the Exercise Price in effect immediately prior to such subdivision or
at the record date of such dividend shall simultaneously with the effectiveness
of such subdivision or immediately after the record date of such dividend be
proportionately reduced. If the outstanding shares of Warrant Stock (or Common
Stock issued upon conversion thereof) shall be combined into a smaller number of
shares, the Exercise Price in effect immediately prior to such combination
shall, simultaneously with the effectiveness of such combination, be
proportionately increased. When any adjustment is required to be made in the
Exercise Price in accordance with this Section 3, the number of Shares
purchasable upon the exercise of this Warrant shall be changed to the number
determined by dividing (i) an amount equal to the number of shares issuable upon
the exercise of this Warrant immediately prior to such adjustment, multiplied by
the Exercise Price in effect immediately prior to such adjustment, by (ii) the
Exercise Price in effect immediately after such adjustment. 

(c)     Replacement of Securities
upon Reorganization, etc. In the event of any reorganization or
reclassification of the securities of Company (other than a change in par value
or from no par value to par value, or from par value to no par value, or as a
result of a subdivision or combination), or in the event of any consolidation or
merger of the Company with or into another entity, or in the event of a sale of
all or substantially all of the Company’s assets to another person or entity, at
any time prior to the expiration of this Warrant, upon subsequent exercise of
this Warrant the Registered Holder shall have the right to receive the same kind
and number of shares of common stock and other securities, cash or other
property as would have been distributed to the Registered Holder upon such
reorganization, reclassification, consolidation or merger had the Registered
Holder exercised this Warrant immediately prior to such reorganization, reclassification,
consolidation, merger, or asset sale appropriately adjusted for any subsequent
event described in this Section 3. The Registered Holder shall pay upon such
exercise the Exercise Price that otherwise would have been payable pursuant to
the terms of this Warrant. If any such reorganization, reclassification,
consolidation or merger results in a cash distribution in excess of the then
applicable Exercise Price, the holder may, at the Registered Holder’s option,
exercise this Warrant under Section 2(c) of this Warrant. If any such
reorganization, reclassification, consolidation or merger results in a cash
distribution equal to or less than the then applicable Exercise Price (an
“Out-of-the-Money Change of Control”), the Warrant (and the right
to purchase securities upon exercise hereof) shall automatically terminate upon
the closing of such Out of the Money Change of Control. In the event of any such
reorganization, merger or consolidation (other than an Out-of-the-Money Change
of Control), the corporation formed by such consolidation or merger or the
corporation which shall have acquired the assets of the Company shall execute
and deliver a supplement hereto to the foregoing effect, which supplement shall
also provide for adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided in this Warrant. 

3 

(d)     Adjustment
Certificate. When any adjustment is required to be made in the
number of Shares or the Exercise Price pursuant to this Section 3, the Company
shall promptly mail to the Registered Holder a certificate setting forth (i) a
brief statement of the facts requiring such adjustment, (ii) the Exercise Price
after such adjustment and (iii) the kind and amount of stock or other securities
or property into which this Warrant shall be exercisable after such adjustment.

(e)     Acknowledgement.
In order to avoid doubt, it is acknowledged that, for so long as this
Warrant is exercisable for Warrant Stock, the holder of this Warrant shall be
entitled to the benefit of all adjustments in the number of shares of Common
Stock of the Company issuable upon conversion of the Warrant Stock of the
Company which occur prior to the exercise of this Warrant, including without
limitation, any increase in the number of shares of Common Stock issuable upon
conversion as a result of a dilutive issuance of capital stock. 

4.    
Transfers. 

(a)     Unregistered
Security. Each holder of this Warrant acknowledges that this
Warrant, the Shares and the Common Stock of the Company have not been registered
under the Securities Act of 1933, as amended (the “Securities
Act”), and agrees not to sell, pledge, distribute, offer for sale,
transfer or otherwise dispose of this Warrant, any Shares issued upon its
exercise or any Common Stock issued upon conversion of the Shares in the absence
of (i) an effective registration statement under the Securities Act as to this
Warrant, such Shares or such Common Stock and registration or qualification of
this Warrant, such Shares or such Common Stock under any applicable U.S. federal
or state securities law then in effect, or (ii) an opinion of counsel,
reasonably satisfactory to the Company, that such registration and qualification
are not required. Each certificate or other instrument for Shares issued upon
the exercise of this Warrant shall bear a legend substantially to the foregoing
effect. 

(b)     Transferability.
Except as expressly provided in this Warrant, this Warrant shall not be
transferred, assigned, pledged, encumbered, hypothecated, conveyed in trust,
gifted, transferred by bequest, devise or descent, or otherwise disposed of
(collectively, a “Transfer”); provided, however, that the
Registered Holder may Transfer this Warrant to an Affiliate only upon prior
written notice to the Company and upon a properly executed assignment (in the
form of Exhibit B hereto) delivered to the principal office of the
Company, and, provided further that the permitted transferee agrees in writing
to be bound by the terms hereof in a manner reasonably acceptable to the
Company. For purposes of this Warrant, “Affiliate” means, with
respect to Registered Holder, any individual, corporation, partnership, trust,
limited liability company, association or other entity (a
“Person”) who, directly or indirectly, controls, is controlled by,
or is under common control with such Person, including without limitation any general partner, managing member,
officer or director of such Person or any venture capital fund now or hereafter
existing that is controlled by one or more general partners or managing members
of, or shares the same management company with, such Person. Any purported
Transfer by the Registered Holder of this Warrant in violation of this Section 4
hereof shall be voidable by the Company. The Company need not register a
transfer of legended Warrant stock, and may also instruct its transfer agent not
to register the transfer of the Warrant stock, unless the conditions specified
in each of the foregoing legends are satisfied.

4 

(c)     Warrant Register.
The Company will maintain a register containing the names and addresses of
the Registered Holders of the Warrants. Until any transfer of this Warrant is
made in the warrant register, the Company may treat the Registered Holder of
this Warrant as the absolute owner hereof for all purposes; provided,
however, that if this Warrant is properly assigned in blank, the Company
may (but shall not be required to) treat the bearer hereof as the absolute owner
hereof for all purposes, notwithstanding any notice to the contrary. Any
Registered Holder may change such Registered Holder’s address as shown on the
warrant register by written notice to the Company requesting such change. 

5.     No
Impairment. The Company will not, by amendment of its charter or
through reorganization, consolidation, merger, dissolution, sale of assets or
any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will at all times in good faith assist
in the carrying out of all such terms and in the taking of all such action as
may be necessary or appropriate in order to protect the rights of the holder of
this Warrant against impairment. 

6.     Stock Fully
Paid. The Company covenants and agrees to take all actions within
its control to assure that all Shares which may be issued upon the exercise of
the rights represented by this Warrant will, upon issuance, be duly authorized,
validly issued, fully paid and nonassessable and free from all preemptive rights
of any stockholder and free of all taxes, liens and charges with respect to the
issue thereof. The Company will take all such actions as may be reasonably
necessary that are within its control to assure that such Shares may be issued
as provided herein without violation of any applicable law or regulation;
provided, however, that the Company shall not be required to effect a
registration under Federal or State securities laws with respect to such
exercise. 

7.     Early
Termination. In the event of, at any time prior to the Expiration
Date, an IPO, the Company shall provide to the registered Holder forty-five (45)
days advance written notice of such IPO and this Warrant shall be deemed
exercised pursuant to Section 2(c) immediately prior to the date such IPO is
closed. The Warrant (and the right to purchase securities upon exercise hereof)
shall automatically terminate upon the closing of an Out-of-the-Money Change of
Control. 

8.     Notices of Certain
Transactions. In case: 

(a)     the Company shall take a record of
the holders of its Preferred Stock (or other stock or securities at the time
deliverable upon the exercise of this Warrant) for the purpose of entitling or
enabling them to receive any dividend or other distribution, or to receive any
right to subscribe for or purchase any shares of stock of any class or any other
securities, or to receive any other right, to subscribe for or purchase any
shares of stock of any class or any other securities, or to receive any other
right, or 

(b)     of any capital reorganization of
the Company, any reclassification of the capital stock of the Company, any
consolidation or merger of the Company, any consolidation or merger of the
Company with or into another corporation (other than a consolidation or merger
in which the Company is the surviving entity), or any transfer of all or
substantially all of the assets of the Company, or

5 

(c)     of the voluntary or involuntary
dissolution, liquidation or winding-up of the Company, or 

(d)     of any redemption of the Warrant
Stock or mandatory conversion of the Preferred Stock into Common Stock of the
Company, 

then, and in each such case, the Company will mail or cause to be
mailed to the Registered Holder of this Warrant a notice specifying, as the case
may be, (i) the date on which a record is to be taken for the purpose of such
dividend, distribution or right, and stating the amount and character of such
dividend, distribution or right, or (ii) the effective date on which such
reorganization, reclassification, consolidation, merger, transfer, dissolution,
liquidation, winding-up, redemption or conversion is to take place, and the
time, if any is to be fixed, as of which the holders of record of Warrant Stock
(or such other stock or securities at the time deliverable upon such
reorganization, reclassification, consolidation, merger, transfer, dissolution,
liquidation, winding-up, redemption or conversion) are to be determined. Such
notice shall be mailed at least twenty (20) days prior to the record date or
effective date for the event specified in such notice. 

9.     Reservation of
Stock. The Company will at all times reserve and keep available,
solely for the issuance and delivery upon the exercise of this Warrant, such
Shares and other stock, securities and property, as from time to time shall be
issuable upon the exercise of this Warrant. 

10.     Exchange of
Warrants. Upon the surrender by the Registered Holder of any
Warrant or Warrants, properly endorsed, to the Company at the principal office
of the Company, the Company will, subject to the provisions of Section 4 hereof,
issue and deliver to or upon the order of such Registered Holder, at the
Company’s expense, a new Warrant or Warrants of like tenor, in the name of such
Registered Holder or as such Registered Holder (upon payment by such Registered
Holder of any applicable transfer taxes) may direct, calling in the aggregate on
the face or faces thereof for the number of Shares called for on the face or
faces of the Warrant or Warrants so surrendered. 

11.     Replacement of
Warrants. Upon receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant and (in
the case of loss, theft or destruction) upon delivery of an indemnity agreement
(with surety if reasonably required) in an amount reasonably satisfactory to the
Company, or (in the case of mutilation) upon surrender and cancellation of this
Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor.

12.     Mailing of
Notices. Any notice required or permitted pursuant hereto shall
be made in accordance with the terms of the Purchase Agreement. 

13.     No Rights or
Liabilities as Stockholder. Until the exercise of this Warrant,
the Registered Holder of this Warrant shall not have or exercise any rights, or
be subject to any liability, by virtue hereof as a stockholder of the Company
with respect to the Shares. 

14.     No Fractional
Shares. No fractional Shares will be issued in connection with
any exercise hereunder. In lieu of any fractional Shares which would otherwise
be issuable, the Company shall pay cash equal to the product of such fraction
multiplied by the fair market value of one Share on the date of exercise, as
determined in good faith by the Company’s Board of Directors. 

15.     Amendment or
Waiver. Any term of this Warrant may be amended or waived only by
an instrument in writing signed by the Company and the Registered Holder. Any
such amendment or waiver shall be enforceable against the Registered Holder, and
the Company. 

6 

17.     Headings.
The headings in this Warrant are for purposes of reference only and shall
not limit or otherwise affect the meaning of any provision of this Warrant. 

18.     Governing
Law. This Warrant shall be governed, construed and interpreted in
accordance with the laws of the State of Delaware, without giving effect to
principles of conflicts of law.

[Signature Page Follows] 

7 

This Warrant was executed as of the date first set forth above.

	 	FREQUENCY NETWORKS, INC.

	 	 
	 	 
	 	By: 	 
	 	 
	 	Name: Blair Harrison 
	 	 
	 	Title: Chief Executive Officer
  

	 	Address: 	4526 Wilshire Blvd. 
	 	  	Los Angeles, CA 90010 

SIGNATURE PAGE TO WARRANT 

EXHIBIT A 

PURCHASE/EXERCISE FORM 

	To: Frequency Networks, Inc. 	Dated: 	 

The undersigned, pursuant to the provisions set forth in the
attached Warrant, hereby irrevocably elects to (circle one): 

(a) purchase _____________ shares of the Series A Preferred
Stock covered by such Warrant and herewith makes payment of $ _________ ,
representing the full purchase price for such shares at the price per share
provided for in such Warrant, or 

(b) exercise such Warrant for ___________ shares purchasable
under the Warrant pursuant to the Net Issue Exercise provisions of Section 2(c)
of such Warrant. 

	 	YOU ON DEMAND HOLDINGS, INC. 
	 	 
	 	By: 	 
	 	 
	 	Name: 	 
	 	 
	 	Title: 	 

EXHIBIT B 

ASSIGNMENT FORM 

FOR VALUE RECEIVED, YOU On Demand Holdings, Inc. hereby sells,
assigns and transfers all of the rights of the undersigned under the attached
Warrant with respect to the number of shares of Series A Preferred Stock covered
thereby set forth below, unto: 

	 	Name of Assignee 	Address/Facsimile Number 	No. of Shares

Dated: ________________

	 	YOU On Demand Holdings, Inc. 
	 	 
	 	 
	 	By: 	 
	 	 
	 	Name: 	 
	 	 
	 	Title:YOU On Demand Holdings, Inc.: Exhibit 10.10 - Filed by newsfilecorp.com

SERIES A PREFERRED STOCK PURCHASE AGREEMENT 

THIS SERIES A PREFERRED STOCK PURCHASE AGREEMENT (this
“Agreement”) is made on the 13th day of April, 2016, by and among
Frequency Networks, Inc., a Delaware corporation (the “Company”),
and the investors listed on Exhibit A hereto (each, an
“Investor” and collectively, the “Investors”). 

WITNESSETH: 

WHEREAS, the Company desires to sell to the Investors, and the
Investors desire to purchase from the Company, shares of the Company’s Series A
Preferred Stock (the “Series A Preferred Stock”) on the terms and
conditions set forth in this Agreement; 

NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: 

1.     Purchase and Sale of Stock.

1.1    Sale and Issuance of Series A
Preferred Stock. 

(a)     The Company shall adopt and file
with the Secretary of State of Delaware on or before the Closing (as defined
below) the Certificate of Amendment to the Amended and Restated Certificate of
Incorporation in the form attached hereto as Exhibit C (the
“Certificate of Amendment”). 

(b)     On or prior to the Closing (as
defined below), the Company shall have authorized (i) the sale and issuance to
the Investors of up to 30,627,957 shares of its Series A Preferred Stock (the
“Shares”) and (ii) the issuance of the shares of Common Stock to
be issued upon conversion of the Shares (the “Conversion Shares”).
The Shares and the Conversion Shares shall have the rights, preferences,
privileges and restrictions set forth in the Amended and Restated Certificate of
Incorporation, as amended by the Certificate of Amendment (the “Restated
Certificate”).

(c)     Subject to the terms and conditions
of this Agreement, each Investor agrees, severally and not jointly, to purchase
at the Closing or pursuant to Section 1.2, and the Company agrees to sell and
issue to each Investor at the Closing or pursuant to Section 1.2, that number of
Shares set forth opposite each Investor’s name on Exhibit A hereto for
$0.42467 per share or $0.141557 per share, as applicable (the “Purchase
Price”). 

1.2    Closing. The purchase, sale and
issuance of the Shares shall take place at one or more closings as described
below (each of which is referred to in this Agreement as a
“Closing”). 

(a)     First Closing. The initial
purchase and sale of the Shares shall take place remotely via the exchange of
documents and signatures on the date hereof, or at such other time and place as
the Company and Investors acquiring in the aggregate at least a majority of the
Shares mutually agree upon orally or in writing (which time and place are
designated as the “First Closing”). At the First Closing, the
Company shall deliver to each Investor a certificate representing the Shares that such Investor is purchasing
against payment of the purchase price therefor by check, wire transfer,
cancellation of indebtedness or any combination thereof. If payment by an
Investor is made, in whole or in part, by conversion of indebtedness, then such
Investor shall surrender to the Company for cancellation at the Closing any
evidence of such indebtedness or shall execute an instrument of cancellation in
form and substance acceptable to the Company. 

(b)     Additional Closings. 

(i)     The Company may sell and issue up
to the balance of the Shares not sold at the First Closing at additional
subsequent Closings occurring within 90 days after the First Closing (the
“Additional Closings”) to additional investors (the
“Additional Closing Investors”) who are approved by the Company.
At each Additional Closing, the Company shall deliver to each Additional Closing
Investor, and to each of the Investors for each Additional Closing in which such
Investors participate, a certificate representing the Shares that such
Additional Closing Investor or Investor is purchasing against payment of the
purchase price therefor by check, wire transfer, cancellation of indebtedness or
a combination thereof.

(ii)    Any such sale and issuance in an
Additional Closing shall be on the same terms and conditions as those contained
herein, and such persons or entities who are new investors shall, upon execution
and delivery of the relevant signature pages, become parties to, and be bound
by, this Agreement and the other Related Agreements (as defined in Section 2.4
hereof), without the need for an amendment to this Agreement or any of the
Related Agreements except to add such new investor’s name, notice information,
and if called for, its investment and/or stockholdings of the Shares, to the
appropriate exhibit or schedule to such agreement (collectively, the
“Informational Amendments”), and shall be deemed an “Investor” for
all intents and purposes and shall have the rights and obligations hereunder and
thereunder, in each case as of the date of the applicable Additional Closing.

(iii)   Notwithstanding the foregoing, if either
entities affiliated with Liberty Global (“Liberty”) or entities
affiliated with Oakmont (“Oakmont”) purchase at least 7,000,000
Shares in an Additional Closing (as adjusted for any stock dividends,
combinations, splits or the like with respect to such shares), the Company and
each Investor that is a party to this Agreement at the time of such Additional
Closing shall enter into and deliver to the Company an amendment to the Voting
Agreement in a form mutually acceptable to the Company, Liberty and Oakmont
providing for the right of Liberty and/or Oakmont (as applicable) to appoint a
member of the Company’s board of directors. 

1.3    Use of Proceeds. The Company shall
use the proceeds from the issuance and sale of the Shares for (a) the purchase
of the shares of Series A Preferred Stock held by Kingdom Capital Market LLC for
an aggregate purchase price of not more than $1,000,000.00 and (b) general
working capital purposes.

2.     Representations and Warranties of
the Company. The Company hereby represents and warrants to each Investor
that, except as set forth on a Schedule of Exceptions (the “Schedule of
Exceptions”) furnished to each Investor prior to execution hereof and
attached hereto as Exhibit B, which exceptions shall be deemed to
be representations and warranties as if made hereunder: 

2 

2.1    Organization, Good Standing and
Qualification. The Company is a corporation duly organized, validly existing
and in good standing under the laws of the State of Delaware. The Company is
duly qualified to transact business and is in good standing in each jurisdiction
in which the failure to so qualify would have a material adverse effect on its
business, properties or financial condition (a “Material Adverse
Effect”). The Company has all required corporate power and authority to
own its property and to carry on its business as presently conducted or
contemplated to be conducted. 

2.2    Capitalization and Voting Rights.
The authorized capital of the Company consists of: 

(a)      Preferred Stock.
Sixty-Six Million Seven Hundred Thousand (66,700,000) shares of Preferred Stock,
par value $0.001, all of which have been designated Series A Preferred Stock,
Thirty-Three Million Sixty-Nine Thousand One Hundred Seventy-Three (33,069,173)
of which are issued and outstanding. The rights, privileges and preferences of
the Series A Preferred Stock are as stated in the Restated Certificate. 

(b)     Common Stock. One Hundred
Thirteen Million (113,000,000) shares of Common Stock, par value $0.001 (the
“Common Stock”), of which Nineteen Million Seven Hundred
Sixty-Three Thousand Sixty (19,763,060) shares are issued and outstanding. The
outstanding shares of Common Stock are all duly and validly authorized and
issued, fully paid and nonassessable, and were issued in accordance with the
registration or qualification provisions of the Securities Act of 1933, as
amended (the “Act”) and any relevant state securities laws, or
pursuant to valid exemptions therefrom. 

(c)     Options to purchase an aggregate of
5,237,820 shares of Common Stock are outstanding under the Company’s Stock
Incentive Plan (the “Stock Plan”), duly adopted by the Company’s
Board of Directors and approved by the Company’s stockholders, and 500,000
shares of restricted Common Stock have been issued under the Stock Plan. Options
to purchase an aggregate of 10,066,380 shares are available for grant under the
Stock Plan.

(d)     Except for (i) the conversion
privileges of the Series A Preferred Stock; (ii) the rights provided in Section
2.4 of the Investors’ Rights Agreement; (iii) the currently outstanding warrants
to purchase up to 8,028,533 shares of Common Stock; (iv) the currently
outstanding warrant exercisable for the purchase of 3,000,000 shares of Series A
Preferred Stock; and (v) the securities set forth in Section 2.2(c) above, there
are no outstanding options, warrants, rights (including conversion or preemptive
rights) or agreements for the purchase or acquisition from the Company of any
shares of its capital stock. Other than in connection with the transactions
contemplated hereby, the Company is not a party or subject to any agreement or
understanding, and, to the Company’s knowledge, there is no agreement or
understanding between any persons and/or entities, that affects or relates to
the voting or giving of written consents with respect to any security or by a
director of the Company.

3 

(e)     All outstanding securities of the
Company, including, without limitation, all outstanding shares of the capital
stock of the Company, all shares of the capital stock of the Company issuable
upon the conversion or exercise of all convertible or exercisable securities and
all other securities that the Company is obligated to issue, are subject to a
“market stand-off” restriction for up to 180 days following an initial public
offering of the Company’s securities pursuant to a registration statement filed
with the Securities and Exchange Commission pursuant to the Act in a form
substantially identical to Section 1.15 of the Investors’ Rights Agreement.

2.3    Subsidiaries. The Company does not
presently own or control, directly or indirectly, any interest in any other
corporation, association or other business entity. The Company is not a
participant in any joint venture, partnership or similar arrangement. 

2.4    Authorization. All corporate
action on the part of the Company, its officers, directors and stockholders
necessary for the authorization, execution and delivery of this Agreement and
the Omnibus Amendment to Series A Financing Documents dated as of the date
hereof (the “Omnibus Amendment”) amending the Investors’ Rights
Agreement dated August 12, 2013, by and among the Company and the other parties
thereto(the “Investors’ Rights Agreement”), the Right of First
Refusal and Co-Sale Agreement dated August 12, 2013 by and among the Company and
the other parties thereto (the “Right of First Refusal and Co-Sale
Agreement”) and the Voting Agreement dated August 12, 2013, as amended
by that certain Amendment to Voting Agreement, dated February 6, 2014, by and
among the Company and the parties thereto (the “Voting Agreement”
and collectively with the Investors’ Rights Agreement and the Right of First
Refusal and Co-Sale Agreement, each as amended by the Omnibus Amendment, the
“Related Agreements”), the performance of all obligations of the
Company hereunder and thereunder and the authorization (or reservation for
issuance), sale and issuance of the Shares being sold hereunder and the
Conversion Shares has been taken or will be taken prior to the Closing. This
Agreement and the Related Agreements constitute valid and legally binding
obligations of the Company, enforceable in accordance with their terms, except
(i) as limited by 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) to the
extent the indemnification provisions contained in the Investors’ Rights
Agreement may be limited by applicable federal or state securities laws. 

2.5    Valid Issuance of Preferred and Common
Stock. The Shares that are being purchased by the Investors hereunder, when
issued, sold and delivered in accordance with the terms of this Agreement and
the Restated Certificate for the consideration expressed herein, will be duly
and validly issued, fully paid and nonassessable and will be free of
restrictions on transfer, other than restrictions on transfer under this
Agreement and under applicable state and federal securities laws. The Conversion
Shares have been duly and validly reserved for issuance and, upon issuance in
accordance with the terms of the Restated Certificate and upon conversion of the
Shares, will be duly and validly issued, fully paid and nonassessable and will
be free of restrictions on transfer, other than restrictions on transfer under
this Agreement and the Related Agreements and under applicable state and federal
securities laws. 

4 

2.6    Governmental Consents. No consent,
approval, order or authorization of, or registration, qualification,
designation, declaration or filing with, any federal, state or local
governmental authority on the part of the Company is required in connection with
the consummation of the transactions contemplated by this Agreement, except for:
(i) the filing of a Notice of Transaction pursuant to Section 25102(f) of the
California Corporate Securities Law of 1968, as amended, and the rules
thereunder (the “Law”), which filing will be effected within the
time prescribed by law, and (ii) such other filings required pursuant to
applicable federal and state securities laws and blue sky laws, which filings
will be effected within the required statutory period. 

2.7    Offering. Subject in part to the
truth and accuracy of each Investor’s representations set forth in Section 3 of
this Agreement, the offer, sale and issuance of the Shares as contemplated by
this Agreement are exempt from the registration requirements of the Act, and the
qualification or registration requirements of the Law or other applicable blue
sky laws. Neither the Company nor any authorized agent acting on its behalf will
take any action hereafter that would cause the loss of such exemptions. 

2.8    Litigation. There is no action,
suit, proceeding or investigation pending, or to the Company’s knowledge,
currently threatened against the Company including any actions, suits,
proceedings, or investigations, that question the validity of this Agreement or
the Related Agreements or the right of the Company to enter into such agreements
or to consummate the transactions contemplated hereby or thereby, or that might
result, either individually or in the aggregate, in any Material Adverse Effect
or in any material change in the current equity ownership of the Company, nor is
the Company aware of any reasonable basis for the foregoing. The foregoing
includes, without limitation, actions, suits, proceedings or investigations
pending or threatened (or any basis therefor known to the Company) involving the
prior employment of any of the Company’s employees, their use in connection with
the Company’s business of any information or techniques allegedly proprietary to
any of their former employers, or their obligations under any agreements with
prior employers. The Company is not a party or subject to the provisions of any
order, writ, injunction, judgment or decree of any court or government agency or
instrumentality. There is no action, suit, proceeding or investigation by the
Company currently pending or that the Company intends to initiate. 

2.9    Proprietary Information and Inventions
Agreements. Each current employee, officer and consultant of the Company has
executed a Proprietary Information and Inventions Agreement in substantially the
form attached hereto as Exhibit D, or an agreement containing
substantially similar terms. The Company is not aware that any of its employees,
officers or consultants are in violation thereof. 

2.10   Patents and Trademarks. To the
Company’s knowledge, the Company owns patents, patent rights, trademarks and
trademark rights, service marks, service mark rights, trade names, trade name
rights, copyrights, trade secrets, information and other proprietary rights and
processes necessary to conduct its business as now being conducted and as
proposed to be conducted without conflict with or infringement upon any valid
rights of others. There are no outstanding options, licenses or agreements of
any kind relating to the foregoing, nor is the Company bound by or a party to
any options, licenses or agreements of any kind with respect to the patents,
trademarks, service marks, trade names, copyrights, trade secrets, licenses,
information, and other proprietary rights and processes of any
other person or entity other than such licenses or agreements arising from the
purchase of “off the shelf” or standard generally commercially available
products. The Company has not received any written communications alleging that
the Company has violated or, by conducting its business as presently proposed,
would violate any of the patents, trademarks, service marks, trade names,
copyrights or trade secrets or other proprietary rights of any other person or
entity and the Company is not aware of any basis for such an allegation. The
Company is not aware that any of its employees is obligated under any contract
(including licenses, covenants or commitments of any nature) or other agreement,
or subject to any judgment, decree or order of any court or administrative
agency, that would interfere with the use of his or her best efforts to promote
the interests of the Company or that would conflict with the Company’s business
as presently conducted or as proposed to be conducted. Neither the execution nor
delivery of this Agreement or the Related Agreements, nor the carrying on of the
Company’s business by the employees of the Company, nor the conduct of the
Company’s business as proposed, will, to the Company’s knowledge, conflict with
or result in a breach of the terms, conditions or provisions of, or constitute a
default under, any contract, covenant or instrument under which any of such
employees is now obligated. The Company does not believe it is or will be
necessary to utilize any inventions of any of its employees made prior to or
outside the scope of their employment by the Company. 

5 

2.11    Compliance with Other
Instruments. The Company is not in violation of any provision of its
Restated Certificate or Bylaws nor in any material respect of any instrument,
judgment, order, writ, decree or contract, statute, rule or regulation to which
the Company is subject. The execution, delivery and performance of this
Agreement, the Related Agreements and the consummation of the transactions
contemplated hereby or thereby will not result in any such violation, or be in
conflict with or constitute, with or without the passage of time and giving of
notice, either a default under any such provision, instrument, judgment, order,
writ, decree or contract or an event that results in the creation of any lien,
charge or encumbrance upon any assets of the Company or the suspension,
revocation, impairment, forfeiture or nonrenewal of any material permit,
license, authorization or approval applicable to the Company, its business or
operations or any of its assets or properties. 

2.12    Agreements; Action. 

(a)     Except for agreements explicitly
contemplated hereby (including the Related Agreements), there are no agreements,
understandings or proposed transactions between the Company and any of its
officers, directors, affiliates or any affiliate thereof. 

(b) There are no agreements, understandings, instruments,
contracts, proposed transactions, judgments, orders, writs or decrees to which
the Company is a party or by which it is bound that may involve (i) obligations
(contingent or otherwise) of, or payments to the Company, in excess of $20,000,
or (ii) the license of any patent, copyright, trade secret or other proprietary
right to or from the Company, other than licenses arising from the purchase of
“off the shelf” or other standard products, (iii) provisions materially
restricting the development, manufacture or distribution of the Company’s
products or services or (iv) indemnification by the Company with respect to
infringement of proprietary rights. 

6 

(c)     The Company has not (i) declared or
paid any dividends or authorized or made any distribution upon or with respect
to any class or series of its capital stock, (ii) incurred any indebtedness for
money borrowed or any other liabilities individually in excess of $20,000 or, in
the case of indebtedness and/or liabilities individually less than $50,000, in
excess of $75,000 in the aggregate, (iii) made any loans or advances to any
person, other than ordinary advances for travel expenses, or (iv) sold,
exchanged or otherwise disposed of any of its assets or rights. 

(d)     For the purposes of subsections (b)
and (c) above, all indebtedness, liabilities, agreements, understandings,
instruments, contracts and proposed transactions involving the same person or
entity (including persons or entities the Company has reason to believe are
affiliated therewith) shall be aggregated for the purpose of meeting the
individual minimum dollar amounts of such subsections. 

2.13   Related-Party Transactions. Except as
set forth in the Schedule of Exceptions, no employee, officer or director of the
Company (a “Related Party”) or member of such Related Party’s
immediate family or any corporation, partnership or other entity in which such
Related Party is an officer, director or partner, or in which such Related Party
has significant ownership interest or otherwise controls is indebted to the
Company, nor is the Company indebted (or committed to make loans or extend or
guarantee credit) to any of them. To the Company’s knowledge, none of such
persons has any direct or indirect ownership interest in any firm or corporation
with which the Company is affiliated or with which the Company has a business
relationship, or any firm or corporation that competes with the Company, except
that employees, officers or directors of the Company and members of their
immediate families may own stock in publicly traded companies that may compete
with the Company. No employee, officer or director of the Company nor any member
of the immediate family of any employee, officer or director of the Company is
directly or indirectly interested in any material contract with the Company.

2.14   Financial Statements. The Company has
delivered or made available to each Investor its unaudited financial statements
as of and for the twelve (12) months ended December 31, 2015, and its unaudited
financial statements at and for the month ended January 31, 2016 (together, the
“Financial Statements”). The Financial Statements fairly present, in all
material respects, the financial condition and operating results of the Company
as of the dates, and for the periods, indicated therein, and have been prepared
in accordance with U.S. generally accepted accounting principles applied on a
consistent basis, subject to year-end audit adjustments and except that the
Financial Statements may not contain all footnotes required by U.S. generally
accepted accounting principles. Except as set forth in the Financial Statements,
the Company has no material liabilities, contingent or otherwise, other than (i)
liabilities incurred in the ordinary course of business consistent with past
practices subsequent to January 31, 2016 and (ii) obligations under contracts
and commitments incurred in the ordinary course of business consistent with past
practices and not required under U.S. generally accepted accounting principles
to be reflected in the Financial Statements.

2.15   Changes. Since January 31, 2016, there
has not been: 

7 

(a)     any change in the assets,
liabilities, financial condition or operating results of the Company, except
changes in the ordinary course of business that have not caused, in the
aggregate, a Material Adverse Effect; 

(b)     any damage, destruction or loss,
whether or not covered by insurance, that has resulted in a Material Adverse
Effect; 

(c)     any waiver or compromise by the
Company of a valuable right or of a material debt owed to it; 

(d)     any loans or guarantees made by the
Company to or for the benefit of its employees, officers or directors, or any
members of their immediate families, other than travel advances and other
advances made in the ordinary course of its business; 

(e)     any sale, assignment or transfer of
any patents, trademarks, copyrights, trade secrets or other intangible assets;

(f)     any declaration, setting aside or
payment or other distribution in respect of any of the Company’s capital stock,
or any direct or indirect redemption, purchase or other acquisition of any of
such stock by the Company; 

(g)     any mortgage, pledge, transfer of a
security interest in, or lien, created by the Company, with respect to any of
its material properties or assets, except liens for taxes not yet due or
payable; 

(h)     any satisfaction or discharge of
any lien, claim or encumbrance or payment of any obligation by the Company,
except in the ordinary course of business and the satisfaction or discharge of
which would not result in a Material Adverse Effect; or 

(i)     any agreement or commitment by the
Company to do any of the things described in this Section 2.15. 

2.16   Permits. The Company has all
franchises, permits, licenses and any similar authority necessary for the
conduct of its business, the lack of which could materially and adversely affect
the business, properties or financial condition of the Company. The Company is
not in default in any material respect under any of such franchises, permits,
licenses or other similar authority. 

2.17   Title to Property and Assets. The
property and assets the Company owns are owned by the Company free and clear of
all mortgages, liens, loans and encumbrances, except (i) for statutory liens for
the payment of current taxes that are not yet delinquent, and (ii) for liens,
encumbrances and security interests that arise in the ordinary course of
business and minor defects in title, none of which, individually or in the
aggregate, materially impair the Company’s ownership or use of such property or
assets. With respect to the property and assets it leases, the Company is in
material compliance with such leases and, to its knowledge, holds a valid
leasehold interest free of any liens, claims or encumbrances, subject to clauses
(i) and (ii) above. 

8 

2.18   Employee Benefit Plans. The Company
does not have any Employee Benefit Plan as defined in the Employee Retirement
Income Security Act of 1974. 

2.19   Employees. There is no labor union
organizing activity pending, or to the Company’s knowledge, threatened with
respect to the Company. To the Company’s knowledge: (a) no employee of the
Company is in violation of any term of any employment contract, patent or other
proprietary information disclosure agreement or any other contract or agreement
relating to the right of any such employee to be employed by the Company because
of the nature of the business conducted or proposed to be conducted by the
Company or any other reason, and the continued employment by the Company of its
present employees will not result in any such violation; (b) no officer or key
employee of the Company has any present intention of terminating his or her
employment therewith nor does the Company have any present intention of
terminating any such employment; and (c) the Company is in material compliance
with applicable state and federal laws and regulations respecting employment and
employment practices, terms and conditions of employment, wages and hours and
other laws related to employment, and there are no arrears in the payments of
wages, withholding or social security taxes, unemployment insurance premiums or
other similar obligations. The employment of each officer and employee of the
Company is terminable at the will of the Company. The Company is not a party to
or bound by any currently effective employment contract, deferred compensation
agreement, bonus plan, incentive plan, profit sharing plan or retirement
agreement. 

2.20   Corporate Documents. Except for
amendments necessary to satisfy the representations, warranties or conditions
contained in this Agreement (the form of which amendments has been approved by
the Investors), the Restated Certificate and Bylaws of the Company are in the
form previously provided to special counsel for the Investors. 

2.21   Registration Rights. Except as provided
in the Investors’ Rights Agreement, the Company has not granted or agreed to
grant any registration rights, including piggyback rights, to any person or
entity. 

2.22   Section 83(b) Elections. To the
Company’s knowledge, all individuals who have purchased unvested shares of the
Company’s Common Stock have timely filed elections under Section 83(b) of the
Internal Revenue Code of 1986, as amended, (the “Code”) and any
analogous provisions of applicable state tax laws. 

2.23   Qualified Small Business Stock. As of
and immediately following the Closing, to the knowledge of the Company, the
Shares being issued and sold to the Investors hereunder will meet each of the
requirements for qualification as “qualified small business stock” within the
meaning of Sections 1202 and 1045 of the Internal Revenue Code of 1986, as
amended and Section 18152.5 and 18038.5 of the California Revenue and Taxation
Code. 

2.24   Foreign Corrupt Practices Act. Neither
the Company nor any of the Company’s directors, officers, employees or agents
has, directly or indirectly, made, offered, promised or authorized any payment
or gift of any money or anything of value to or for the benefit of any “foreign
official” (as such term is defined in the U.S. Foreign Corrupt Practices Act of
1977, as amended (the “FCPA”)), foreign political party or
official thereof or candidate for foreign political office for the purpose of
(i) influencing any official act or decision of such official, party or candidate, (ii) inducing such official,
party or candidate to use his, her or its influence to affect any act or
decision of a foreign governmental authority, or (iii) securing any improper
advantage, in the case of (i), (ii) and (iii) above in order to assist the
Company or any of its affiliates in obtaining or retaining business for or with,
or directing business to, any person. Neither the Company nor any of its
directors, officers, employees or agents has made or authorized any bribe,
rebate, payoff, influence payment, kickback or other unlawful payment of funds
or received or retained any funds in violation of any law, rule or regulation.
As of immediately prior to the Closing, neither the Company nor any of its
officers, directors or employees were the subject of any allegation, voluntary
disclosure, investigation, prosecution or other enforcement action related to
the FCPA, UK Bribery Act or any other anti-corruption law (collectively,
“Enforcement Action”). 

9 

2.25   Disclosure. The Company has fully
provided each Investor with all the information that such Investor has requested
for deciding whether to purchase the Shares. Neither this Agreement, the Related
Agreements nor any certificate made or delivered to the Investors in connection
with this Agreement or the Related Agreements contain any untrue statement of a
material fact or omits to state a material fact necessary to make the statements
herein or therein not misleading.

3.     Representations and Warranties of
the Investors. Each Investor, severally and not jointly, hereby represents,
warrants and covenants that: 

 3.1 Authorization. Such Investor has full
power and authority to enter into this Agreement and such agreement constitutes
its valid and legally binding obligation, enforceable 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, (ii) as limited by laws relating to
the availability of specific performance, injunctive relief, or other equitable
remedies, and (iii) to the extent the indemnification provisions contained in
the Investors’ Rights Agreement may be limited by applicable federal or state
securities laws. 

3.2    Purchase Entirely for Own Account.
This Agreement is made with such Investor in reliance in part upon such
Investor’s representation to the Company, which by such Investor’s execution of
this Agreement such Investor hereby confirms, that the Shares to be received by
such Investor and the Conversion Shares (collectively, the
“Securities”) will be acquired for investment for such Investor’s
own account, not as a nominee or agent, and not with a view to the resale or
distribution of any part thereof, and that such Investor has no present
intention of selling, granting any participation in or otherwise distributing
the same. By executing this Agreement, such Investor further represents that
such Investor does not have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participations to such person or to
any third person, with respect to any of the Securities. 

3.3    Disclosure of Information. Such
Investor believes it has received all the information it considers necessary or
appropriate for deciding whether to purchase the Shares. Such Investor further
represents that it has had an opportunity to ask questions and receive answers
from the Company regarding the terms and conditions of the offering of the
Shares and the business, properties, prospects and financial condition of the
Company. The foregoing, however, does not limit or modify the representations and
warranties of the Company in Section 2 of this Agreement or the right of the
Investors to rely thereon. 

10 

3.4    Investment Experience. Such
Investor is an investor in securities of companies in the development stage and
acknowledges that it is able to fend for itself, can bear the economic risk of
its investment and has such knowledge and experience in financial or business
matters that it is capable of evaluating the merits and risks of the investment
in the Shares. If other than an individual, such Investor also represents it has
not been organized for the purpose of acquiring the Shares. 

3.5    Accredited Investor. Such Investor
is an “accredited investor” within the meaning of Securities and Exchange
Commission (“SEC”) Rule 501 of Regulation D, as presently in
effect. 

3.6    Restricted Securities. Such
Investor understands that the Securities it is purchasing are characterized as
“restricted securities” under the federal securities laws inasmuch as they are
being acquired from the Company in a transaction not involving a public offering
and that under such laws and applicable regulations such Securities may be
resold without registration under the Act only in certain limited circumstances.
In the absence of an effective registration statement covering the Securities or
an available exemption from registration under the Act, the Shares (and any
Common Stock issued on conversion thereof) must be held indefinitely. In this
connection, such Investor represents that it is familiar with SEC Rule 144, as
presently in effect, and understands the resale limitations imposed thereby and
by the Act, including without limitation the Rule 144 condition that current
information about the Company be available to the public. Such information is
not now available and the Company has no present plans to make such information
available. 

3.7    Further Limitations on
Disposition. Without in any way limiting the representations set forth
above, such Investor further agrees not to make any disposition of all or any
portion of the Securities unless and until: 

(a)     There is then in effect a
registration statement under the Act covering such proposed disposition and such
disposition is made in accordance with such registration statement; or 

(b)     (i) Such Investor shall have
notified the Company of the proposed disposition and shall have furnished the
Company with a detailed statement of the circumstances surrounding the proposed
disposition, and (ii) if requested by the Company, such Investor shall have
furnished the Company with an opinion of counsel, reasonably satisfactory to the
Company that such disposition will not require registration of such shares under
the Act. It is agreed that the Company will not require opinions of counsel for
transactions made pursuant to Rule 144 except in unusual circumstances. 

(c)     Notwithstanding the provisions of
subsections (a) and (b) above, no such registration statement or opinion of
counsel shall be necessary for a transfer by an Investor that is (i) a
partnership to an affiliate, a partner of such partnership or a retired partner
of such partnership who retires after the date hereof, or to the estate of any
such partner or retired partner or the transfer by gift, will or intestate succession
of any partner to his or her spouse or to the siblings, lineal descendants or
ancestors of such partner or his or her spouse; (ii) a corporation, to its
stockholders in accordance with their interest in the corporation; (iii) a
limited liability company, to its members or former members in accordance with
their interest in the limited liability company; (iv) a venture fund to
affiliated funds; or (v) to the Investor’s family member or trust for the
benefit of the individual Investor, if the transferee agrees in writing to be
subject to the terms hereof to the same extent as if he or she were an original
Investor hereunder. 

11 

3.8    Legends. It is understood that the
certificates evidencing the Securities may bear one or all of the following
legends: 

(a)     “THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION
STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION
OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR
UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.” 

(b)     Any legend required by the
securities laws of any state or other governmental or regulatory agency having
authority over the issuance of the Securities. 

3.9    Tax Advisors. Such Investor has
reviewed with such Investor’s own tax advisors the federal, state and local tax
consequences of this investment, where applicable, and the transactions
contemplated by this Agreement. Each such Investor is relying solely on such
advisors and not on any statements or representations of the Company or any of
its agents and understands that each such Investor (and not the Company) shall
be responsible for such Investor’s own tax liability that may arise as a result
of this investment or the transactions contemplated by this Agreement. 

3.10    Exculpation Among Investors. Each
Investor acknowledges that it is not relying upon any person, firm or
corporation, other than the Company and its officers and directors, in making
its investment or decision to invest in the Company. Each Investor agrees that
no Investor nor the respective controlling persons, officers, directors,
partners, agents, or employees of any Investor shall be liable to any other
Investor for any action heretofore or hereafter taken or omitted to be taken by
any of them in connection with the purchase of the
Securities.

4.       California Commissioner of
Corporations. THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS
AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE
STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR
RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH
QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM
QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS
CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION
BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT. 

12 

5.     Conditions of Investor’s
Obligations at Closing. The obligations of each Investor under subsection
1.2 of this Agreement are subject to the fulfillment of each of the following
conditions, the waiver of which shall not be effective against any Investor who
does not consent in writing thereto: 

5.1    Representations and Warranties.
The representations and warranties of the Company contained in Section 2 shall
be true on and as of the First Closing with the same effect as though such
representations and warranties had been made on and as of the date of such First
Closing. 

5.2    Performance. The Company shall
have performed and complied with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with
by it on or before the First Closing. 

5.3    Compliance Certificate. The Chief
Executive Officer of the Company shall deliver to each Investor at the First
Closing a certificate stating that the conditions specified in Sections 5.1 and
5.2 have been fulfilled. 

5.4    Qualifications. All
authorizations, approvals or permits, if any, of any governmental authority or
regulatory body of the United States or of any state that are required in
connection with the lawful issuance and sale of the Securities pursuant to this
Agreement shall be duly obtained and effective as of the Closing. 

5.5    Proceedings and Documents. All
corporate and other proceedings in connection with the transactions contemplated
at the Closing and all documents incident thereto shall be reasonably
satisfactory in form and substance to the Investors, and they shall have
received all such counterpart original and certified or other copies of such
documents as they may reasonably request. 

5.6    Opinion of Company Counsel. The
Investors shall have received an opinion from O’Melveny & Myers LLP, counsel
for the Company, dated as of the First Closing, substantially in the form
attached hereto as Exhibit E. 

5.7    Omnibus Amendment. The Company
shall have entered into the Omnibus Amendment attached as Exhibit F
hereto with the other parties thereto. 

5.8    Secretary’s Certificate. The
Secretary or Assistant Secretary of the Company shall deliver to each Investor
at the First Closing a certificate stating that the copies of the Company’s
Restated Certificate and Bylaws and Board of Directors and stockholder
resolutions relating to the sale of the Shares attached thereto are true and
complete copies of such documents and resolutions. 

5.9    Proprietary Information and Inventions
Agreements. Each employee, officer and consultant of the Company shall have
entered into a Proprietary Information and Inventions Agreement, or an agreement
containing substantially similar terms. 

13 

6.     Conditions of the Company’s
Obligations at Closing. The obligations of the Company to each Investor
under this Agreement are subject to the fulfillment on or before the Closing of
each of the following conditions by that Investor: 

6.1    Representations and Warranties.
The representations and warranties of the Investors contained in Section 3 shall
be true on and as of the Closing with the same effect as though such
representations and warranties had been made on and as of the Closing. 

6.2    Payment of Purchase Price. The
Investors shall have delivered the purchase price specified in Section 1. 

6.3    Qualifications. All
authorizations, approvals or permits, if any, of any governmental authority or
regulatory body of the United States or of any state that are required in
connection with the lawful issuance and sale of the Securities pursuant to this
Agreement shall be duly obtained and effective as of the Closing. 

7.     Miscellaneous. 

7.1    Survival. The warranties,
representations and covenants of the Company and Investors contained in or made
pursuant to this Agreement shall survive the execution and delivery of this
Agreement and the Closing and shall in no way be affected by any investigation
of the subject matter thereof made by or on behalf of the Investors or the
Company. 

7.2    Successors and Assigns. Except as
otherwise provided herein, the terms and conditions of this Agreement shall
inure to the benefit of and be binding upon the respective successors and
assigns of the parties (including transferees of any Securities). Nothing in
this Agreement, express or implied, is intended to confer upon any party, other
than the parties hereto or their respective successors and assigns, any rights,
remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement. 

7.3    Governing Law. This Agreement
shall be governed by and construed under the laws of the State of Delaware as
applied to agreements among Delaware residents entered into and to be performed
entirely within Delaware, without regard to conflicts of laws principals. 

7.4    Titles and Subtitles. The titles
and subtitles used in this Agreement are used for convenience only and are not
to be considered in construing or interpreting this Agreement. 

7.5    Notices. All notices required or
permitted hereunder shall be in writing and shall be deemed effectively given:
(i) upon personal delivery to the party to be notified, (ii) when sent by
electronic mail or facsimile if sent during normal business hours of the
recipient, if not, then on the next business day; (iii) two days after being
sent by registered or certified mail, return receipt requested, postage prepaid;
or (iv) one day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All
communications shall be sent to the address as set forth on the signature page
hereof or at such other address as such party may designate by ten days’ advance
written notice to the other parties hereto. 

14 

7.6    Finder’s Fee. Each party
represents that it neither is nor will be obligated for any finders’ fee or
commission in connection with this transaction. Each Investor agrees to
indemnify and to hold harmless the Company from any liability for any commission
or compensation in the nature of a finders’ fee (and the costs and expenses of
defending against such liability or asserted liability) for which such Investor
or any of its officers, partners, employees or representatives is responsible.
The Company agrees to indemnify and hold harmless each Investor from any
liability for any commission or compensation in the nature of a finders’ fee
(and the costs and expenses of defending against such liability or asserted
liability) for which the Company or any of its officers, employees or
representatives is responsible. 

7.7    Expenses. Irrespective of whether
the Closing is effected, each party shall pay all costs and expenses that it
incurs with respect to the negotiation, execution, delivery and performance of
this Agreement and the Related Agreements. If any action at law or in equity is
necessary to enforce or interpret the terms of this Agreement, the Related
Agreements, or the Restated Certificate, the prevailing party shall be entitled
to reasonable attorneys’ fees, costs and necessary disbursements in addition to
any other relief to which such party may be entitled. 

7.8    Amendments and Waivers. Any term
of this Agreement may be amended and the observance of any term of this
Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company
and the holders of a majority of the Common Stock not previously sold to the
public that is issuable or issued upon conversion of the Shares. Any amendment
or waiver effected in accordance with this paragraph shall be binding upon each
holder of any securities purchased under this Agreement at the time outstanding
(including securities into which such securities are convertible), each future
holder of all such securities and the Company. 

7.9    Severability. If one or more
provisions of this Agreement are held to be unenforceable under applicable law,
such provision shall be excluded from this Agreement and the balance of the
Agreement shall be interpreted as if such provision were so excluded and shall
be enforceable in accordance with its terms. 

7.10   Entire Agreement. This Agreement and
the documents referred to herein constitute the entire agreement among the
parties and no party shall be liable or bound to any other party in any manner
by any warranties, representations or covenants except as specifically set forth
herein or therein. 

7.11   Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument

7.12   Aggregation of Stock. All Shares held
or acquired by affiliated entities or persons shall be aggregated together for
the purpose of determining the availability of any rights under this
Agreement. 

[Signature Pages Follow]

15 

IN WITNESS WHEREOF, the parties have executed this Series A
Preferred Stock Purchase Agreement as of the date first above written. 

COMPANY: 

FREQUENCY NETWORKS, INC. 

	By:	/s/
      Blair Harrison 
	 	Blair Harrison 
	 	Chief Executive Officer

	Address: 	4526 Wilshire Blvd. 
	  	Los Angeles, CA 90010

[SIGNATURE PAGE TO STOCK
PURCHASE AGREEMENT] 

IN WITNESS WHEREOF, the parties have executed this Series A
Preferred Stock Purchase Agreement as of the date first above written. 

INVESTORS: 

YOU ON DEMAND HOLDINGS, INC. 

	By: 	/s/
      Bruno Wu
	 	Name: Bruno Wu 
	 	Title: Chairman 

	
      Address:
	
      375 Greenwich Street, Suite 516 

	
       
	
      New York, NY 10013 

[SIGNATURE PAGE TO STOCK
PURCHASE AGREEMENT] 

IN WITNESS WHEREOF, the parties have executed this Series A
Preferred Stock Purchase Agreement as of the date first above written. 

INVESTORS: 

POINT BLANK CAPITAL, LLC 

	By: 	 /s/ Michael Gordon
	Name: 	 Michael Gordon
	Title: 	 Member / Manager

Address: 

[SIGNATURE PAGE TO STOCK
PURCHASE AGREEMENT] 

IN WITNESS WHEREOF, the parties have executed this Series A
Preferred Stock Purchase Agreement as of the date first above written. 

INVESTORS: 

FRENET HOLDINGS, LLC 

	By: 	/s/ J.P. Nauseef 
	Name: J.P. Nauseef 
	Title: Manager 

Address: 

3025 Ridgeway Rd
Dayton, Ohio 45419 

[SIGNATURE PAGE TO STOCK
PURCHASE AGREEMENT] 

EXHIBIT A 

Schedule of Investors

First Closing, April 13, 2016

	Investor 

	Shares at 
$0.42467 
per
      share 	Cash 
Consideration 
	Conversion of 
Indebtedness
      
	Shares at 
$0.141557
      
per share 	Cash 
Consideration 
	Conversion 
of
      
Indebtedness 	Total 
Shares 
	Total 
Consideration

	You on Demand Holdings, Inc. 	4,208,885 	$1,787,387.34 	$0 	1,501,962 	$212,612.73 	$0 	5,710,847 	$2,000,000.07 
	FreNet Holdings, LLC [1]. 	856,033 	$0 	$363,531.51 	305,480 	$0 	$43,242.69 	1,161,513 	$406,774.19 
	Point Blank Capital LLC 	3,708,762 	$0 	$1,575,000.00 	0 	$0 	$0 	3,708,762 	$1,575,000.00 

[1] The conversion of interest accrued on the principal amount
of the Promissory Note, by and between the Company and FreNet Holdings LLC,
dated February 9, 2016, is calculated through April 11, 2016; FreNet Holdings
LLC agrees that any interest accrued after such date will be paid in cash.

Subsequent Closing, April 2, 2016

	Investor 

	Shares at 
$0.42467 
per
      share 	Cash 
Consideration 
	Shares at 
$0.141557
      
per share 	Cash 
Consideration 
	Total 
Shares 
	Total 
Consideration

	You on Demand Holdings, Inc. 	2,104,443 	$893,693.66 	750,981 	$106,306.36 	2,855,424 	$1,000,000.02

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