Document:

EXHIBIT
        10.3

      

      COMMON
        STOCK PURCHASE AGREEMENT

      

      

      This
        Common Stock Purchase Agreement (the "Agreement") is dated as of April
        29,
        2006 by and among friendlyway Corporation, a corporation organized under
        the
        laws of the State of Nevada (the "Company") (OTCBB: "FDWY") and
        _________________ (or its assigns). (the "Purchaser").

      

      WHEREAS,
        the parties desire that, upon the terms and subject to the conditions contained
        herein, the Company shall issue and sell to the Purchaser and the Purchaser
        shall purchase    
        of the
        Company's common stock (the "Common Stock"); and

      

      WHEREAS,
        such purchase and sale will be made in reliance upon the provisions of Section
        4(2) and Rule 506 of Regulation D ("Regulation D") of the United States
        Securities Act of 1933, as amended, and the rules and regulations promulgated
        thereunder (the "Securities Act"), or upon such other exemption from the
        registration requirements of the Securities Act as may be available with
        respect
        to any or all of the purchases of Common Stock to be made
        hereunder.

      

      NOW,
        THEREFORE, in consideration of the mutual promises and covenants contained
        herein, the receipt and sufficiency of which are hereby acknowledged, the
        parties hereto hereby agree as follows:

       

      ARTICLE
        I

       

      Purchase
        and Sale of Stock

       

      Section
        1.1 Purchase
        and Sale of Common Shares.
        Upon
        the following terms and subject to the conditions contained herein, the Company
        shall, on the date hereof, issue and sell to the Purchaser, and the Purchaser
        shall purchase from the Company, an aggregate of ________ shares of Common
        Stock
        (the "Common Shares"), for
        a
        total consideration of $_____________. 

       

      Section
        1.2 Closing.
        The
        closing of the purchase and sale of the Common Shares (the "Closing") to
        be
        acquired by the Purchaser from the
        Company shall take place at the offices of Seller on the
        date
        hereof (the "Closing Date").

       

      ARTICLE
        II

       

      Representations
        and Warranties

       

      Section
        2.1 Representations
        and Warranties of the Company.
        In
        order to induce the Purchaser to enter into this Agreement and to purchase
        the
        Common Shares, the Company hereby makes the following representations and
        warranties to the Purchaser:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (a) Organization,
        Good Standing and Power.
        The
        Company is a corporation duly incorporated, validly existing and in good
        standing under the laws of the jurisdiction of its incorporation or
        organization and
        has
        the requisite corporate power to own, lease and operate its properties and
        assets and
        to
conduct
        its business as it is now being conducted and to enter into this Agreement
        and
        to perform its obligations hereunder.

       

      (b) Authorization;
        Enforcement.
        The
        Company has the requisite corporate power and authority to enter into and
        perform this Agreement and
        to
        issue and sell the Common Shares in accordance with the terms hereof. The
        execution, delivery and performance of this Agreement by the Company and
        the
        consummation by it of the transactions contemplated hereby have been duly
        and
        validly authorized by all necessary corporate action, and no further consent
        or
        authorization of the Company or its Board of Directors or stockholders is
        required. This Agreement has been duly executed and delivered by the Company.
        This Agreement constitutes a valid and binding obligation of the Company
        enforceable against the Company in accordance with its terms, except as such
        enforceability may be limited by applicable bankruptcy, insolvency,
        reorganization, moratorium, liquidation, conservatorship, receivership or
        similar laws relating to, or affecting generally the enforcement of, creditor’s
        rights and remedies or by other equitable principles of general
        application. 

       

      (c) Issuance
        of Shares.
        The
        Common Shares to be issued at the Closing have been duly authorized by all
        necessary corporate action and, when paid for or issued in accordance with
        the
        terms hereof, the Common Shares shall be validly issued and outstanding,
        fully
        paid and nonassessable.

       

      (d) No
        Conflicts.
        The
        execution, delivery and performance of this Agreement by the Company and
        the
        consummation by the Company of the transactions contemplated herein and therein
        do not and will not (i) violate any provision of the Company’s Certificate of
        Incorporation ("Articles") or Bylaws, (ii) conflict with, or constitute a
        default (or an event which with notice or lapse of time or both would become
        a
        default) under, or give to others any rights of termination, amendment,
        acceleration or cancellation of, any agreement, mortgage, deed of trust,
        indenture, note, bond, license, lease agreement, instrument or obligation
        to
        which the Company is a party or by which any of its properties or assets
        are
        bound, (iii) create or impose a lien, mortgage, security interest, charge
        or
        encumbrance of any nature whatsoever on any property of the Company under
        any
        agreement or any commitment to which the Company is a party or by which the
        Company is bound or by which any of its properties or assets are bound, or
        (iv)
        result in a violation of any rule, regulation, order, judgment or decree
        applicable to the Company or by which any property or asset of the Company
        is
        bound or affected, except, in all cases other than violations pursuant to
        clause
        (i) above, for such conflicts, defaults, terminations, amendments, acceleration,
        cancellations and violations as would not, individually or in the aggregate,
        have a Material Adverse Effect.
        "Material Adverse Effect" shall mean any effect on the business, operations,
        properties, prospects, or financial condition of the Company that is material
        and adverse to the Company and its subsidiaries and affiliates, taken as
        a
        whole. 

       

      (f) Certain
        Fees.
        The
        Company has not employed any broker or finder or incurred any liability for
        any
        brokerage or investment banking fees, commissions, finders' or structuring
        fees,
        financial advisory fees or other similar fees in connection with this
        Agreement.

       

      Section
        2.2 Representations
        and Warranties of the Purchaser.
        The
        Purchaser hereby makes the following representations and warranties to the
        Company:

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      (a) Organization
        and Standing of the Purchaser.
        The
        purchaser is an individual purchasing for his personal investment. 

       

      (b) Authorization
        and Power.
        The
        Purchaser has the requisite power and authority to enter into and perform
        this
        Agreement and to purchase the Common Shares being sold to it hereunder. The
        execution, delivery and performance of this Agreement by the Purchaser and
        the
        consummation by it of the transactions contemplated hereby have been duly
        authorized by all necessary corporate action and no further consent or
        authorization of the Purchaser or its Board of Directors, stockholders,
        members, managers or partners, as the case may be, is required. This Agreement
        has been duly executed and delivered by the Purchaser on the Closing Date.
        This
        Agreement constitutes a valid and binding obligation of the Purchaser
        enforceable against the Purchaser in accordance with its terms, except as
        such
        enforceability may be limited by applicable bankruptcy, insolvency,
        reorganization, moratorium, liquidation, conservatorship, or similar laws
        relating to, or affecting generally the enforcement of, creditors' rights
        or
        remedies or by other equitable principles of general application.

       

      (c) No
        Conflicts.
        The
        execution, delivery and performance of this Agreement and
        the
        consummation by the Purchaser of the transactions contemplated herein do
        not and
        will not (i) result in a violation of the
        Purchaser’s charter documents, bylaws, partnership agreement, operating
        agreement or other organizational documents, or (ii) conflict with, constitute
        a
        default (or an event which with notice or lapse of time or both would become
        a
        default) under, or give to others any rights of termination,
        amendment, acceleration or cancellation of any agreement, indenture or
        instrument to which the Purchaser is a party of by which the Purchaser is
        bound,
        or result in a violation of any law, rule, or regulation, or any order, judgment
        or decree of any court or governmental agency applicable to the Purchaser
        or its
        properties (except for such conflicts, defaults and violations as would not,
        individually or in the aggregate, have a material adverse effect on the
        Purchaser).

       

      (d) Acquisition
        for Investment.
        The
        Purchaser is purchasing the Common Shares solely for its own account for
        the
        purpose of investment and not with a view to or for sale in connection with
        distribution. The Purchaser does not have a present intention to sell the
        Common
        Shares, nor a present arrangement (whether or not legally
        binding) or intention to effect any distribution of the Common Shares to
        or
        through any person or entity. The Purchaser acknowledges that it is able
        to bear
        the financial risks associated with an investment in the Common Shares and
        that
        it has been given full access to such records of the Company and to the officers
        of the Company as it has deemed necessary or appropriate to conduct its due
        diligence investigation.

       

      (e) Accredited
        Purchasers.
        The
        Purchaser is an "accredited investor" as defined in Regulation D promulgated
        under the Securities Act.
        The
        Purchaser has such knowledge and experience in financial and business matters
        that the Purchaser is capable of evaluating the merits and risks of the
        Purchaser's investment in the Company.

       

      (f) Rule
        144.
        The
        Purchaser understands that the Common Shares must be held indefinitely unless
        such Shares are registered under the Securities Act or an exemption from
        registration is available. The Purchaser acknowledges that the Purchaser
        is
        familiar with Rule 144 of the rules and regulations of the Securities and
        Exchange Commission (“SEC”), as amended, promulgated pursuant to the Securities
        Act ("Rule 144"), and that the Purchaser has been advised that Rule 144 permits
        resales only under certain circumstances. The Purchaser understands that
        to the
        extent that Rule 144 is not available, the Purchaser will be unable to sell
        any
        Shares without either registration under the Securities Act or the existence
        of
        another exemption from such registration requirement.

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      (g) No
        Broker-Dealer Affiliation.
        The
        Purchasers is not a broker-dealer registered with the Commission or an affiliate
        (as such term is defined in Rule 144(a) promulgated under the Securities
        Act) of
        a broker-dealer registered with the Commission.

       

      (h) General.
        The
        Purchaser understands that the Common Shares are being offered and sold in
        reliance on a transactional exemption from the registration requirement of
        federal
        and state securities laws and the Company is relying upon the truth and accuracy
        of the representations, warranties, agreements, acknowledgments and
        understandings of the Purchaser set forth herein in order to determine the
        applicability of such exemptions and the suitability of such Purchaser to
        acquire the Common Shares. The Purchaser understands that no United States
        federal or state agency or any government or governmental agency has passed
        upon
        or made any recommendation or endorsement of the Common Shares.

       

      (i) No
        General Solicitation.
        The
        Purchaser acknowledges that the Common Shares were not offered to the Purchaser
        by means of any form of general or public solicitation or general advertising,
        or publicly disseminated advertisements or sales literature, including (i)
        any
        advertisement, article, notice or other communication published in any
        newspaper, magazine, or similar media, or broadcast over television or radio,
        or
        (ii) any seminar or meeting to which the Purchaser was invited by any of
        the
        foregoing means of communications.

       

      (j) No
        Commissions or Similar Fees.
        In
        connection with the purchase of the Common Shares by the Purchaser, the
        Purchaser has not and will not pay, and has no knowledge of the payment of,
        any
        commission or other direct or indirect remuneration to any person or entity
        for
        soliciting or otherwise coordinating the purchase of such securities, except
        to
        such persons or entities as are duly licensed and/or registered to engage
        in
        securities offering and selling activities (or are exempt from such licensing
        and/or registration requirements) under applicable federal laws and the laws
        of
        the state(s) in which such activities have taken place in connection with
        the
        transaction contemplated by this Agreement.

       

      ARTICLE
        III

       

      Stock
        Certificate Legend

       

      Section
        3.1 Legend.
        Each
        certificate representing the Common Shares, as applicable and appropriate,
        shall
        be stamped or otherwise imprinted with a legend in substantially the following
        form (in addition to any legend required by applicable federal, provincial
        or
        state securities or "blue sky" laws):

       

      THE
        SECURITIES REPRESENTED BY THIS CERTIFICATE (THE "SECURITIES") HAVE NOT BEEN
        REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
        ACT")
        OR STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED
        OR
        HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES
        ACT
        AND UNDER APPLICABLE STATE SECURITIES LAWS OR FRIENDLYWAY, INC. (THE "COMPANY")
        SHALL HAVE RECEIVED AN OPINION IN FORM, SCOPE AND SUBSTANCE REASONABLY
        ACCEPTABLE TO THE COMPANY, OF COUNSEL, WHO IS REASONABLY ACCEPTABLE TO THE
        COMPANY, THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND
        UNDER
        THE PROVISIONS OF APPLICABLE FEDERAL AND STATE SECURITIES LAWS IS NOT
        REQUIRED.

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        IV

       

      Miscellaneous

       

      Section
        4.1 Fees
        and Expenses.
        The
        Company shall not pay the fees and expenses of Purchaser for its advisors,
        counsel, accountants and other experts, if any, and all other expenses, incurred
        by such party incident to the negotiation, preparation, execution, delivery
        and
        performance of this Agreement.

       

      Section
        4.2 Consent
        to Jurisdiction.
        Each of
        the Company and the Purchaser (i) hereby irrevocably submits to the jurisdiction
        of the United States District Court sitting in the Western District of the
        State
        of Washington and the courts of the State of Washington located in King County
        for the purposes of any suit, action or proceeding arising out of or relating
        to
        this Agreement or the transactions contemplated hereunder or thereunder and
        (ii)
        hereby waives, and agrees not to assert in any such suit, action or proceeding,
        any claim that it is not personally subject to the jurisdiction of such court,
        that the suit, action or proceeding is brought in an inconvenient forum or
        that
        the venue of the
        suit,
        action or proceeding is improper. Each of the Company and the Purchaser consents
        to process being served in any such suit, action or proceeding by mailing
        a copy
        thereof to such party at the address in effect for notices to it under this
        Agreement and agrees that such service shall constitute good and sufficient
        service of process and notice thereof. Nothing in this Section 4.2 shall
        affect
        or limit any right to serve process in any other manner permitted by
        law.

       

      Section
        4.3 Entire
        Agreement; Amendment.
        This
        Agreement contains the entire understanding and agreement of the parties
        with
        respect to the matters covered hereby and, except as specifically set forth
        herein, neither the Company nor the Purchaser makes any representation,
        warranty, covenant or undertaking with respect to such
        matters, and they supersede all prior understandings and agreements with
        respect
        to said subject matter, all of which are merged herein. No provision of this
        Agreement may be waived or
        amended, except by a written instrument signed by the Company and the
        Purchaser.

       

      Section
        4.4 Notices.
        Any
        notice, demand, request, waiver or other communication required or permitted
        to
        be given hereunder shall be in writing and shall be effective (a) upon hand
        delivery by telex (with correct answer back received), telecopy or facsimile
        at
        the address or
        number
        designated below (if delivered on a business day during normal business hours
        where such notice is to be received), or the first business day following
        such
        delivery (if delivered other than on a business day during normal business
        hours
        where such notice is to be received) or (b) on
        the
        second business day following the date of mailing by express courier service,
        fully prepaid,
        addressed to such address, or upon actual receipt of such mailing, whichever
        shall first occur. The addresses for such communications shall be:

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      If
        to the
        Company:

      

      Address:

      

      If
        to the
        Purchaser:

      

      Address:

      

      Any
        party
        hereto may from time to time change its address for notices by giving at
        least
        ten (10) days written notice of such changed address to the other party
        hereto.

       

      Section
        4.5 Waivers.
        No
        waiver by either party of any default with respect to any provision, condition
        or requirement of this Agreement shall be deemed to be a continuing waiver
        in
        the
        future or a waiver of any other provisions, condition or requirement hereof,
        nor
        shall any delay
        or
        omission of any party to exercise any right hereunder in any manner impair
        the
        exercise of any such right accruing to it thereafter.

       

      Section
        4.6 Headings.
        The
        article, section and subsection headings in this Agreement are for convenience
        only and shall not constitute a part of this Agreement for any other purpose
        and
        shall not be deemed to limit or affect any of the provisions
        hereof.

       

      Section
        4.7 Successors
        and Assigns.
        This
        Agreement shall be binding upon and inure to the benefit of the parties and
        their successors and assigns. Either party hereunder may assign no rights
        or
        obligations hereto, except that the rights and obligations of the Company
        may be
        assigned.

       

      Section
        4.8 No
        Third Party Beneficiaries.
        This
        Agreement is intended for the benefit of the parties hereto and their respective
        permitted successors and assigns and is not for the benefit of, nor may any
        other person hereof enforce any provision.

       

      Section
        4.9 Governing
        Law.
        This
        Agreement shall be governed by and construed in accordance with the internal
        laws of the State of Nevada, without giving effect to the choice of law
        provisions.
        This
        Agreement shall not be interpreted or construed with any presumption against
        the
        party causing this Agreement to be drafted.

       

      Section
        4.10 Survival.
        The
        representations, warranties, agreements and covenants set forth in this
        Agreement shall survive the execution and delivery hereof and the Closing
        hereunder indefinitely.

       

      Section
        4.11 Counterparts.
        This
        Agreement may be executed in any number of counterparts, all of which taken
        together shall constitute one and the same instrument and shall become effective
        when counterparts have been signed by each party and delivered to the other
        parties hereto, it being understood that all parties need not sign the same
        counterpart.
        Facsimile execution shall be deemed originals.

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      Section
        4.12 Severability.
        The
        provisions of this Agreement are severable and, in the event that any court
        of
        competent jurisdiction shall determine
        that any one or more of the provisions or part of the provisions contained
        in
        this Agreement shall, for any reason, be held to be invalid, illegal or
        unenforceable in any respect, such invalidity, illegality or unenforceability
        shall not affect any other provision or part of a provision of this Agreement,
        and this Agreement shall be reformed and construed as if such invalid or
        illegal
        or unenforceable provision,
        or part of such provision, had never been contained herein, so that such
        provisions would be valid, legal and enforceable to the maximum extent
        possible.

      

      Section
        4.13 Further
        Assurances.
        From
        and after the date of this Agreement, upon the request of the Purchaser or
        the
        Company, each of the Company and the Purchaser shall execute and deliver
        such
        instruments, documents and other writings as may be reasonably necessary
        or
        desirable to confirm and carry out and to effectuate fully the intent and
        purposes of this Agreement.

      

      

      IN
        WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
        by
        their respective authorized officer as of the date first above
        written.

      

      
        	 	
                friendlyway
                  CORPORATION

              
	 	 
	 	
                 

                By:
                  /s/
                  Kenneth J.
                  Upcraft                             

              
	 	
                Name:  Kenneth
                  J. Upcraft

                Title:    Chief
                  Executive Officer

              
	 	 
	 	 
	 	
                PURCHASER:

              
	 	 
	 	
                ________________________________

              
	 	
                Name:

              

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      

      Attachment
        A

      ACCREDITED
        INVESTOR QUESTIONNAIRE

      

      
        	
                A

              	
                APPLICABLE
                  TO INDIVIDUALS ONLY.
                  Please answer the following questions concerning your financial
                  condition
                  as an “accredited investor” (within the meaning of Rule 501 of Regulation
                  D). If the Investor is more than one individual, each individual
                  must
                  initial an answer where the question indicates a “yes” or “no” response,
                  indicating to which individual it applies. If the Investor is purchasing
                  jointly with his or her spouse, one answer may be indicated for
                  the couple
                  as a whole:

              

      

      

      
        	 	
                1.

              	
                Does
                  your net worth*, or joint net worth with your spouse, exceed
                  $1,000,000?

              

      

      

      
        	
                  Yes______

              	
                No______

              

      

      

       

      
        	
              	2.	
                Did
                  you have an individual income ** in excess of $200,000, or joint
                  income
                  together with your spouse in excess of $300,000, in each of the
                  two most
                  recent years (2004 and 2005) and do you reasonably expect to reach
                  the
                  same income level in the current year
                  (2006)?

              

      

      

      
        	
                  Yes______

              	
                No______

              

      

      

       

      
        	
              	3.	
                Are
                  you an executive officer or director of Friendlyway,
                  Inc.

              

      

      

      
        	
                  Yes______

              	
                No______

              

      

      

       

      
        	*	
                For
                  purposes hereof net worth shall be deemed to include ALL of your
                  assets,
                  liquid or illiquid (including such items as home, furnishings,
                  automobile
                  and restricted securities) MINUS any liabilities (including such
                  items as
                  home mortgages and other debts and
                  liabilities).

              

      

      

      
        	**	
                For
                  purposes hereof the term “income” is not limited to “adjusted gross
                  income” as that term is defined for federal income tax purposes, but
                  rather includes certain items of income which are deducted in computing
                  “adjusted gross income.” For investors who are salaried employees, the
                  gross salary of such investor, minus any significant expenses personally
                  incurred by such investor in connection with earning the salary,
                  plus any
                  income from any other source including unearned income, is a fair
                  measure
                  of “income” for purposes hereof. For investors who are self-employed,
                  “income” is generally construed to mean total revenues received during the
                  calendar year minus significant expenses incurred in connection
                  with
                  earning such revenues.

              

      

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      
        	
                B.

              	
                APPLICABLE
                  TO CORPORATIONS, PARTNERSHIPS AND OTHER ENTITIES
                  ONLY:

              

      

      

      The
        Investor is an accredited investor because the Investor falls within at least
        one of the following categories (Check all appropriate lines):

       

      
        
          	 	
                  ______

                	
                  (i)
                    a bank as defined in Section 3(a)(2) of the Securities Act or
                    a savings
                    and loan association or other institution as defined in Section
                    3(a)(5)(A)
                    of the Securities Act whether acting in its individual or fiduciary
                    capacity;

                
	 	 	 
	 	
                  ______

                	
                  (ii)
                    a broker-dealer registered pursuant to Section 15 of the Securities
                    Exchange Act of 1934, as amended;

                
	 	 	 
	 	
                  ______

                	
                  (iii)
                    an insurance company as defined in Section 2(13) of the Securities
                    Act.

                
	 	 	 
	 	
                  ______

                	
                  (iv)
                    an investment company registered under the Investment Company
                    Act of 1940,
                    as amended (the “Investment Company Act”) or a business development
                    company as defined in Section 29(a)(48) of the Investment Company
                    Act;

                
	 	 	 
	 	
                  ______

                	
                  (v)
                    a Small Business Investment Company licensed by the U.S. Small
                    Business
                    Administration under Section 301(c) or (d) of the Small Business
                    Investment Act of 1958, as amended;

                
	 	 	 
	 	
                  ______

                	
                  (vi)
                    a plan established and maintained by a state, its political subdivisions,
                    or any agency or instrumentality of a state or its political
                    subdivisions,
                    for the benefit of its employees, where such plan has total assets
                    in
                    excess of $5,000,000;

                
	 	 	 
	 	
                  ______

                	
                  (vii)
                    an employee benefit plan within the meaning of Title 1 of the
                    Employee
                    Retirement Income Security Act of 1974, as amended (“ERISA”), where the
                    investment decision is made by a plan fiduciary, as defined in
                    Section
                    3(21) of ERISA, which is either a bank, savings and loan association,
                    insurance company, or registered investment adviser, or an employee
                    benefit plan that has total assets in excess of $5,000,000, or
                    a
                    self-directed plan the investment decisions of which are made
                    solely by
                    persons that are accredited investors;

                
	 	 	 
	 	
                  ______

                	
                  (viii)
                    a private business development company, as defined in Section
                    202(a)(22)
                    of the Investment Advisers Act of 1940, as amended;

                
	 	 	 
	 	
                  ______

                	
                  (ix)
                    an organization described in Section 501(c)(3) of the Internal
                    Revenue
                    Code, a corporation, a Massachusetts or similar business trust,
                    or a
                    partnership, not formed for the specific purpose of acquiring
                    the
                    securities offered, with total assets in excess of
                    $5,000,000;

                

        

         

        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

        
          	 	 	 
	 	
                  ______

                	
                  (x)
                    a trust, with total assets in excess of $5,000,000, not formed
                    for the
                    specific purpose of acquiring the securities offered, whose purchase
                    is
                    directed by a “sophisticated” person, who has such knowledge and
                    experience in financial and business matters that he is capable
                    of
                    evaluating the merits and risks of the prospective
                    investment;

                
	 	 	 
	 	
                  ______

                	
                  (xi)
                    an entity in which all of the equity investors are persons or
                    entities
                    described above (“accredited investors”). ALL
                    EQUITY OWNERS MUST COMPLETE PART “A” ABOVE.
                    

                

        

         

      

      

      
        	 	
                Investor(s):

              
	 	 
	 	 
	 	 
	 	
                Signature
                  of Investor

              
	 	 
	 	 
	 	
                Print
                  Name of Investor

              
	 	 
	 	 
	 	 
	 	 
	 	
                Signature
                  of Co-Investor (if any)

              
	 	 
	 	 
	 	
                Print
                  Name of Co-Investor

              

      

      

      
        
          
          

        

        
          10EXHIBIT
      10.4

    

    THIS
      WARRANT AND THE SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933 ("FEDERAL ACT") OR THE SECURITIES
      LAWS OF ANY STATE IN RELIANCE UPON THE EXEMPTIONS CONTAINED THEREIN. THIS
      WARRANT AND ANY SHARES ISSUED UPON EXERCISE OF THIS WARRANT MAY NOT BE OFFERED
      FOR SALE, SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS
      REGISTERED UNDER THE FEDERAL ACT AND APPLICABLE STATE SECURITIES LAWS OR THE
      COMPANY IS SATISFIED THAT SUCH REGISTRATION IS NOT REQUIRED.

    

    IN
      MAKING
      AN INVESTMENT DECISION INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE
      COMPANY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS
      INVOLVED.

    

    INVESTORS
      SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISK OF THIS
      INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

    

    
      	
              Warrant
                to Purchase _______

              Shares
                of Common Stock

            

    

    

    April
      29,
      2006

    

    FRIENDLYWAY
      CORPORATION

    WARRANT
      CERTIFICATE

    

    1. Issuance
      of Warrant; Term.

    

    (a) For
      and
      in consideration of good and valuable consideration, the receipt and sufficiency
      of all of which are hereby acknowledged, friendlyway Corporation (“Company")
      hereby grants to ____________________ ("Holder") the right to purchase
      __________ shares of the Company's Common Stock, $.001 par value per share
      (the
      "Common Stock").

    

    (b) The
      shares of Common Stock issuable upon exercise of this Warrant are hereinafter
      referred to as the "Shares." This Warrant shall be exercisable at any time
      and
      from time to time from the date hereof until this Warrant expires at 5:00 P.M.
      five calendar years after date of issuance.

    

    2. Exercise
      Price.
      The
      exercise price (the "Exercise Price") per share for which all or any of the
      Shares may be purchased pursuant to the terms of this Warrant shall be
      $_______.

    

    3. Exercise.
      This
      Warrant may be exercised by the Holder hereof (but only on the conditions
      hereafter set forth) as to all or any increment or increments of ten (10) Shares
      (or the balance of the Shares if less than that number), upon delivery of
      written notice of intent to exercise to the Company at the following address:
      

    

    

    Address:

    

    or
      any
      other address as the Company shall designate in a written notice to the Holder
      hereof, together with this Warrant and payment to the Company of the aggregate
      Exercise Price of the Shares so purchased. The Exercise Price shall be payable
      by certified or bank check. Upon exercise of this Warrant, the Company shall
      as
      promptly as practicable, and in any event within fifteen (15) days thereafter,
      execute and deliver to the Holder of this Warrant a certificate or certificates
      for the total number of whole Shares for which this Warrant is being exercised
      in the names and denominations as are requested by the Holder. If this Warrant
      shall be exercised with respect to less than all of the Shares, the Holder
      shall
      be entitled to receive a new Warrant covering the number of Shares in respect
      of
      which this Warrant shall not have been exercised, which new Warrant shall in
      all
      other respects be identical to this Warrant. The Company covenants and agrees
      that it will pay when due any and all state and federal issue taxes which may
      be
      payable in respect of the issuance of this Warrant or the issuance of any Shares
      upon exercise of this Warrant.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Covenants
      and Conditions.
      The
      above provisions are subject to the following:

    

    (a) Neither
      this Warrant nor the Shares have been registered under the Securities Act of
      1933, as amended ("Securities Act"), or any state securities laws ("Blue Sky
      Laws"). This Warrant has been acquired for investment purposes and not with
      a
      view to distribution or resale and may not be pledged, hypothecated, sold,
      made
      subject to a security interest, or otherwise transferred without (i) an
      effective registration statement for the Warrant under the Securities Act and
      all applicable Blue Sky Laws, or (ii) an opinion of counsel, which opinion
      and
      counsel shall be reasonably satisfactory to the Company and its counsel, that
      registration is not required under the Securities Act or under any applicable
      Blue Sky Laws. Transfer of Shares issued upon the exercise of this Warrant
      shall
      be restricted in the same manner and to the same extent as the Warrant, and
      the
      certificates representing the Shares shall, subject to Section 6 hereof, bear
      substantially the following legend:

    

    THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED IN RELIANCE UPON
      THE
      REPRESENTATION OF THE HOLDER THAT THEY HAVE BEEN ACQUIRED FOR INVESTMENT AND
      NOT
      WITH A VIEW TOWARD THE RESALE OR OTHER DISTRIBUTION THEREOF, AND HAVE NOT BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "FEDERAL ACT") OR THE
      SECURITIES LAWS OF ANY STATE IN RELIANCE UPON THE EXEMPTIONS FROM REGISTRATION
      CONTAINED THEREIN, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, ENCUMBERED OR
      OTHERWISE DISPOSED OF UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER
      THE FEDERAL ACT AND APPLICABLE STATE SECURITIES LAWS RELATING THERETO OR THE
      COMPANY IS SATISFIED REGISTRATION IS NOT REQUIRED.

    

    The
      Holder hereof and the Company agree to execute all other documents and
      instruments as counsel for the Company reasonably deems necessary to effect
      the
      compliance of the issuance of this Warrant and any shares of Common Stock issued
      upon exercise hereof with applicable federal and state securities
      laws.

     

    (b) The
      Company covenants and agrees that all Shares which may be issued upon exercise
      of this Warrant will, upon issuance and payment therefor, be legally and validly
      issued and outstanding, fully paid and nonassessable, free from all taxes,
      liens, charges and preemptive rights, if any, with respect thereto or to the
      issuance thereof. The Company shall at all times reserve and keep available
      for
      issuance upon the exercise of this Warrant that number of authorized but
      unissued shares of Common Stock as will be sufficient to permit the exercise
      in
      full of this Warrant.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    5. Adjustment
      of Exercise Price and Number of Shares Issuable.
      The
      Exercise Price and the number of Shares (or other securities or property)
      issuable upon exercise of this Warrant shall be subject to adjustment from
      time
      to time upon the occurrence of any of the events enumerated in this Section
      5.

    

    (a) Common
      Stock Reorganization.
      If the
      Company shall (i) subdivide or consolidate its outstanding shares of Common
      Stock (or any class thereof) into a greater or smaller number of shares, (ii)
      pay a dividend or make a distribution on its Common Stock (or any class thereof)
      in shares of its capital stock, or (iii) issue by reclassification of its Common
      Stock (or any class thereof) any shares of its capital stock (any event
      described in clauses (i), (ii) or (iii) being called a "Common Stock
      Reorganization"), then the Exercise Price and the type of securities for which
      this Warrant is exercisable shall be adjusted immediately so that the Holder
      thereafter shall be entitled to receive upon exercise of this Warrant the
      aggregate number and type of securities that it would have received if this
      Warrant had been exercised immediately prior to the Common Stock
      Reorganization.

    

    (b) Adjustment
      in Number of Shares.
      Upon
      each adjustment to the Exercise Price pursuant to subsections (a) of this
      Section 5, this Warrant shall thereafter evidence the right to receive upon
      payment of the adjusted Exercise Price that number of Shares obtained by
      multiplying the number of Shares previously issuable upon exercise of this
      Warrant by a fraction, the numerator of which is the Exercise Price prior to
      adjustment and the denominator of which is the adjusted Exercise Price.

    

    (c) Capital
      Reorganizations.
      If
      there shall be any consolidation, merger or amalgamation of the Company with
      another person or entity or any acquisition of capital stock of the Company
      by
      means of a share exchange, other than a consolidation, merger or share exchange
      in which the Company is the continuing corporation or any sale or conveyance
      of
      the property of the Company as an entirety or substantially as an entirety,
      or
      any reorganization or recapitalization of the Company (a "Capital
      Reorganization"), then the Holder of this Warrant shall no longer have the
      right
      to purchase Common Stock, but shall have instead the right to purchase, upon
      exercise of this Warrant, the kind and amount of shares of stock and other
      securities and property (including cash) which the Holder would have owned
      or
      have been entitled to receive pursuant to the Capital Reorganization if this
      Warrant had been exercised immediately prior to the effective date of the
      Capital Reorganization. As a condition to effecting any Capital Reorganization,
      the Company or the successor or surviving corporation, as the case may be,
      shall
      assume by a supplemental agreement, satisfactory in form, scope and substance
      to
      the Holder (which shall be mailed or delivered to the Holder of this Warrant
      at
      the last address of the Holder appearing on the books of the Company) the
      obligation to deliver to the Holder shares of stock, securities, cash or
      property as, in accordance with the foregoing provisions, the Holder may be
      entitled to purchase, and all other obligations of the Company set forth in
      this
      Warrant.

    

    (d) Determination
      of Fair Market Value.
      Subject
      to the provisions set forth below, the fair market value of the Company or
      of
      any non-cash consideration received by the Company upon any Common Stock
      Distribution shall be determined in good faith by the Board of Directors of
      the
      Company. Upon each determination, the Company shall promptly give notice thereof
      to the Holder, setting forth in reasonable detail the calculation of the fair
      market value and the method and basis of determination thereof (the "Company
      Determination"). If the Holder shall disagree with the Company Determination
      and
      shall, by notice to the Company given within thirty (30) days after the
      Company's notice of the Company Determination, elect to dispute the Company
      Determination, the Company shall, within thirty (30) days after receipt of
      the
      notice, engage an investment bank or other qualified appraisal firm acceptable
      to the Holder to make an independent determination of the fair market value
      of
      the Company or of any non-cash consideration received by the Company upon any
      Common Stock Distribution (the "Appraiser Determination"). The Appraiser
      Determination shall be final and binding on the Company and the Holder. The
      cost
      of the Appraiser Determination shall be borne by the Company.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (e) Adjustment
      Rules.
      Any
      adjustments pursuant to this Section 5 shall be made successively whenever
      an
      event referred to herein shall occur. No adjustment shall be made pursuant
      to
      this Section 5 in respect of the issuance from time to time of shares of Common
      Stock upon the exercise of this Warrant or upon the exercise or conversion
      of
      any other Option Securities or Convertible Securities.

    

    (f) Proceedings
      Prior to Any Action Requiring Adjustment.
      As a
      condition precedent to the taking of any action which would require an
      adjustment pursuant to this Section 5, the Company shall take any action which
      may be necessary, including obtaining regulatory approvals or exemptions, in
      order that the Company may thereafter validly and legally issue as fully paid
      and nonassessable all shares of Common Stock which the Holder of this Warrant
      is
      entitled to receive upon exercise thereof. 

    

    (g) Notice
      of Adjustment.
      Not
      less than ten (10) days prior to the record date or effective date, as the
      case
      may be, of any action which requires or might require an adjustment or
      readjustment pursuant to this Section 5, the Company shall give notice to the
      Holder of the event, describing the event in reasonable detail and specifying
      the record date or effective date, as the case may be, and, if determinable,
      the
      required adjustment and the computation hereof. If the required adjustment
      is
      not determinable at the time of the notice, the Company shall give notice to
      the
      Holder of the adjustment and computation promptly after the adjustment becomes
      determinable.

    

    6. Transfer
      of Warrant.
      Subject
      to the provisions of Section 4 hereof, this Warrant may be transferred, in
      whole
      or in part, to any person or business entity, by presentation of the Warrant
      to
      the Company with written instructions for the transfer. Upon the presentation
      for transfer, the Company shall promptly execute and deliver a new Warrant
      or
      Warrants in the form hereof in the name of the assignee or assignees and in
      the
      denominations specified in the instructions. The Company shall pay all expenses
      incurred by it in connection with the preparation, issuance and delivery of
      Warrants under this Section. Any transferee of this Warrant by acceptance
      thereof, agrees to be bound by all of the terms and conditions of this
      Warrant.

    

    7. Warrant
      Holder Not A Shareholder.
      Except
      as otherwise provided herein, this Warrant does not confer upon the Holder
      any
      right whatsoever as a shareholder of the Company. 

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    8. Lost,
      Stolen, Mutilated or Destroyed Warrant.
      If this
      Warrant is lost, stolen, mutilated or destroyed, the Company may, on such terms
      as to indemnity or otherwise as it may in its discretion reasonably impose
      (which shall, in the case of a mutilated Warrant, include the surrender
      thereof), issue a new Warrant of like denomination and tenor as the Warrant
      so
      lost, stolen, mutilated or destroyed. Any such new Warrant shall represent
      the
      original contractual obligation of the Company, whether or not the allegedly
      lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable
      by
      anyone.

    

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Warrant as of the date first above
      written.

    

    
      	 	
              friendlyway
                CORPORATION

            
	 	 
	 	 
	 	
              By:/s/
                Kenneth J.
                Upcraft                                    
                

            
	 	
              Name: Kenneth
                J. Upcraft

            
	 	
              Title:   Chief
                Executive Officer

            

    

    

    

    
      
        
        

      

      
        5

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