Document:

THIS
      NOTE AND THE SECURITIES ISSUABLE UPON THE CONVERSION HEREOF 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 AN EFFECTIVE
      REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF
      COUNSEL SATISFACTORY TO BORROWER THAT SUCH REGISTRATION IS NOT
      REQUIRED.

    

    SUBORDINATED
      PROMISSORY NOTE

    

    
      	
              $1,500,000.00

            	
              October
                18, 2006

            

    

    

    FOR
      VALUE
      RECEIVED, the undersigned, RONCO CORPORATION, a Delaware corporation, and any
      successor corporation under the Loan Agreement (as hereinafter defined)
      (“Borrower”), promises to pay to the order of SANDERS MORRIS HARRIS INC., a
      Texas corporation, at its office at 600 Travis Street, Suite 3100, Houston,
      Harris County, Texas 77002, or at such other place as the holder of this Note
      (“Lender”) may from time to time designate in writing, the sum of One Million
      Five Hundred Thousand Dollars ($1,500,000.00), or
      such
      lesser amount as shall equal the outstanding principal amount hereof,
with
      interest on the unpaid principal balance from the date of disbursement by Lender
      until paid at the rates set forth below.

    

    Interest
      accruing on this Note will be calculated on the basis of the actual number
      of
      days elapsed for any whole or partial month in which interest is being
      calculated and on the basis of a 360-day year. 

    

    This
      Note
      is one of a duly authorized issue of Notes of Borrower (which term includes
      any
      successor corporation under the Loan Agreement hereinafter referred to) in
      the
      aggregate principal amount of up to $6,000,000.00, issued pursuant to a Letter
      Loan Agreement dated as of June 9, 2006 (the “Loan Agree-ment”), among the
      undersigned and the Lenders identified on Schedule 1 thereto. The terms of
      this
      Note include those stated in the Loan Agreement. Reference is hereby made to
      the
      Loan Agreement and all supple-ments thereto for a statement of the respective
      rights, limitations of rights, duties and immunities thereunder of Borrower
      and
      Lender and of the terms upon which the Notes are, and are to be,
      delivered.

    

    1. 
Interest
      Rate.

     

    The
      per
      annum interest rate hereunder (the “Note Rate”) shall be 4.77%, being the
      short-term “applicable federal rate” for May 2006. Unpaid interest shall be
      compounded annually. Interest shall be payable on the first and second
      anniversary of this Note and at maturity. 

    

    2. 
Maturity.

     

    Any
      and
      all remaining unpaid principal of and interest on this Note shall be due and
      payable in full on June 9, 2009 (the “Maturity Date”); provided, however that
      the principal amount of this Note and all accrued and unpaid interest thereon
      shall be due and payable contemporaneous with the closing of any refinancing
      of
      the Credit Agreement (as hereinafter defined).

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    3. 
Application
      of Payments.

     

    So
      long
      as no Event of Default (as used in this Note, the term “Event of Default” have
      the meanings given to those terms in the Loan Agreement) exists, payments under
      this Note and the Security Documents (as defined below) shall be applied:
      (a) first, to the payment of accrued interest; (b) second, at the option of
      Lender, to the payment of any expenses owing under this Note; and (c) third,
      to
      the reduction of the principal amount of this Note. After the occurrence and
      during the continuance of an Event of Default, Lender may apply such payments
      to
      the obligations secured by the Security Instrument in such manner as it may
      elect in its sole discretion.

    

    4. 
Prepayment.

    

    Borrower
      may prepay, without premium or penalty, its obligation under this Note in whole
      or in part from time to time upon giving Lender at least ten days prior written
      notice of its intention to prepay the Note specifying the amount of such
      prepayment; provided however that prepayment may not occur (i) prior to the
      date
      that is 30 days after the end of the Pricing Period and Borrower has given
      proper written notice of the Current Market Price as
      required herein,
      and (ii)
      unless there is a currently effective registration statement covering the shares
      of Common Stock to be issued to holders of Notes upon conversion.

    

    5. 
Subordination.
      No
      payment (whether principal, interest, or other) on account of this Note shall
      be
      made if prior to the time of such payment Lender has received written notice
      from Wells Fargo, National Association
      or
      Laurus Master Fund, Ltd., as the case may be, (each, the “Senior Lender”) that a
      default has occurred under the credit agreement (the “Credit Agreement”) between
      Borrower and such Senior Lender and such event of default shall not have been
      cured or waived or shall not have ceased to exist. The foregoing provision
      is
      not intended to and shall not impair as between the Borrower, its creditors
      other than the Senior Lender, and the holder of this Note, the obligation of
      Borrower, which shall be absolute and unconditional, to pay to the holder of
      this Note the principal of and interest on this Note, as and when the same
      shall
      become due and payable in accordance with the terms hereof, or to affect the
      relative rights of the holder of this Note and creditors of Borrower other
      than
      the Senior Lender, nor shall anything herein prevent the holder of this Note
      from exercising all remedies otherwise permitted by applicable law upon default,
      subject to the rights, under this Section 5, of the Senior Lender in respect
      of
      any required notice of the exercise of any such remedy or cash, property, or
      securities of Borrower received upon exercise of such remedy. The holder of
      this
      Note by acceptance hereof shall be deemed to acknowledge and agree that the
      subordination provisions of this Section 5 are, and are intended to be, an
      inducement and a consideration to the Senior Lender to enter into the Credit
      Agreement with Borrower. Notwithstanding the foregoing, in the event Lender
      shall receive payments in contravention of the terms and conditions of this
      Note
      then (a) all amounts so received shall be deemed to be held in trust for the
      benefit of the Senior Lender; and (b) all such amounts shall be, at the written
      request of Senior Lender, either paid directly to Senior Lender or to
      Borrower.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    6. 
Security.

     

    This
      Note
      is secured by a security agreement dated June 9, 2006, as amended (the “Security
      Instruments”), executed by Borrower, encumbering the property described in the
      Security Instruments. The Security Instruments and any and all other documents
      securing this Note are collectively referred to as the “Security
      Documents.”

    

    7. 
Conversion.

    

    (a) After
      the
      end of the Pricing Period (as defined below), Lender is entitled, at Lender’s
      option, at any time and from time to time (i) prior to the Maturity Date (except
      that, in the case Borrower defaults on the payment of this Note on the Maturity
      Date, such right to convert shall terminate at the close of business on the
      date
      the Note is paid in full) and (ii) prior to prepayment of this Note pursuant
      to
      Section 4 hereof, to convert all or a portion of the outstanding principal
      amount of and all accrued and unpaid interest under this Note into that number
      of shares of the Borrower’s common stock, $0.00001 par value (the “Common
      Stock”) as is determined by dividing such principal amount and accrued and
      unpaid interest by the Conversion Price, determined as hereinafter provided,
      in
      effect at the time of conversion. The price at which shares of Common Stock
      shall be delivered upon conversion of this Note (the “Conversion Price”) shall
      be the Current Market Price (as hereinafter defined), subject to adjustment,
      as
      hereinafter provided, for a
      stock
      split, stock dividend or other similar event and for merger, consolidation,
      exchange of shares, recapitalization, reorganization or other similar
      event.

    

    (b) In
      order
      to exercise the conversion privilege, the holder of this Note shall surrender
      the Note, duly endorsed or assigned to Borrower or in blank, at the principal
      executive office of Borrower, accompanied by written notice to Borrower at
      such
      office that the holder elects to convert this Note or, if less than the entire
      principal amount hereof is to be converted, the portion thereof to be converted.
      

    

    (c) This
      Note
      shall be deemed to have been converted immediately prior to the close of
      business on the day of surrender of this Note, duly endorsed or assigned to
      Borrower or in blank, for conversion in accordance with the foregoing
      provisions, and at such time the rights of the holder of this Note as a holder
      shall cease, and the person or persons entitled to receive the shares of Common
      Stock issuable upon conversion shall be treated for all purposes as the record
      holder or holders of such shares of Common Stock at such time. As promptly
      as
      practicable on or after the conversion date, Borrower shall issue and shall
      deliver to the holder of this Note, or its designated assigns, a certificate
      or
      certificates for the number of full shares of Common Stock issuable upon
      conversion (bearing such legends as are required by the Loan Agreement and
      applicable state and federal securities laws in the opinion of counsel to the
      Borrower). No payment or adjustment is to be made on conversion for interest
      accrued hereon after the date of conversion or for dividends on the Common
      Stock
      issued on conversion. In the case of this Note that is converted in part only,
      promptly following such conversion Borrower shall execute and Borrower shall
      deliver to the holder hereof, at the expense of Borrower, a new Note or Notes
      of
      authorized denominations in aggregate principal amount equal to the unconverted
      portion of the principal amount of this Note. 

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    (d) If,
      prior
      to the conversion of this Note, (i) the number of outstanding shares of Common
      Stock is increased by a stock split, stock dividend, or other similar event,
      the
      Conversion Price shall be proportionately reduced, (ii) the number of
      outstanding shares of Common Stock is decreased by a combination or
      reclassification of shares, or other similar event, the Conversion Price shall
      be proportionately increased, (iii) (A) there shall be any merger,
      consolidation, exchange of shares, recapitalization, reorganization, or other
      similar event, as a result of which shares of Common Stock shall be changed
      into
      the same or a different number of shares of the same or another class or classes
      of stock or securities of the Borrower or another entity or (B) there occurs
      a
      sale of all or substantially all of the Borrower’s assets that is not deemed to
      be a liquidation, dissolution or winding up of the Borrower, then the holder
      of
      this Note shall have the right to receive upon conversion of this Note, upon
      the
      basis and upon the terms and conditions specified herein and in lieu of the
      shares of Common Stock immediately theretofore issuable upon conversion, such
      stock, securities, and/or other assets which the holder of this Note would
      have
      been entitled to receive in such transaction had this Note, together with all
      unpaid and accrued interest thereon, been converted immediately prior to such
      transaction, and in any such case appropriate provisions shall be made with
      respect to the rights and interests of the holder of this Note to the end that
      the provisions hereof (including, without limitation, provisions for the
      adjustment of the Conversion Price) shall thereafter be applicable, as nearly
      as
      may be practicable in relation to any securities thereafter deliverable upon
      the
      exercise hereof.

    

    (e) No
      fractional shares shall be issued upon conversion of this Note. In lieu of
      the
      Borrower issuing any fractional shares to Lender upon the conversion of this
      Note, the Borrower shall pay to Lender an amount equal to the product obtained
      by multiplying the Conversion Price by the fraction of a share not issued
      pursuant to the previous sentence. Upon conversion of this Note in full and
      the
      payment of any amounts specified in this Section 7(e),
      the
      Borrower shall be forever released from all its obligations and liabilities
      under this Note.

    

    (f) “Current
      Market Price” means at any date the average of the closing price of the Common
      Stock on all securities exchanges (including the Nasdaq Stock Market) on which
      it may at the time be listed, or, if there have been no sales on any such
      exchange on any day, or, if on any day such security is not so listed, the
      average of the representative bid and asked prices quoted on the Nasdaq Stock
      Market as of 4:00 p.m., New York time, or if on any day such security is not
      quoted in the Nasdaq Stock Market, the average of the highest bid and lowest
      ask
      prices on such day in the domestic over-the-counter market as reported by the
      OTC Bulletin Board, Pink Sheets LLC, or any similar successor organization,
      in
      each case for the twenty (20) consecutive trading days (the “Pricing Period”)
      commencing on the earlier of the first trading day immediately following the
      effective date of (i) Borrower’s Registration Statement on Form S-1 (File No.
      333-127056) originally filed with the Securities and Exchange Commission (the
      “SEC”) on Form SB-2 on July 29, 2005 (the “Original Registration Statement”),
      (ii) such other registration statement as may be filed by the Borrower with
      the
      SEC covering shares of Common Stock issuable upon conversion of the Borrower’s
      Series A Convertible Preferred Stock (the “Contingent Registration Statement”
and together with the Original Registration Statement, the “Current Registration
      Statement”) or (iii) the Additional 

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    Registration
      Statement (as defined below). Notwithstanding the foregoing, in the event that
      the Pricing Period has not ended by December 31, 2006, “Current Market Price”
shall mean $0.17, and the Pricing Period shall be deemed to have ended on
      December 31, 2006. Lender agrees that it will not, without the prior written
      consent of Borrower, sell, offer, contract or grant any option to sell
      (including without limitation any short sale), transfer, or otherwise dispose
      of
      any shares of Common Stock of Borrower, options, or warrants to acquire shares
      of Common Stock, or securities exchangeable or exercisable for or convertible
      into shares of Common Stock owned by Lender during the Pricing Period. Borrower
      shall provide written notice of the Current Market Price promptly following
      the
      end of the Pricing Period to the holder of this Note. 

    

    (g) Borrower
      shall pay all documentary, stamp, transfer or other transactional taxes
      attributable to the issuance or delivery of shares of Common Stock of Borrower
      or other securities or property upon conversion of any Notes: provided, however,
      that Borrower shall not be required to pay any taxes which may be payable in
      respect of any transfer involved in the issuance or delivery of any certificate
      for such shares or securities in the name other than that of the holder of
      this
      Note in respect of which such shares are being issued.

    

    (h) Borrower
      shall reserve at all times so long as this Note remains outstanding, free from
      preemptive rights, out of its treasury stock or its authorized but unissued
      shares of Common Stock, or both, solely for the purpose of effecting the
      conversion of this Note, sufficient shares of Common Stock to provide for the
      conversion of this Note.

    

    (i) If
      any
      shares of Common Stock or other securities to be reserved for the purpose of
      conversion of this Note require registration with or approval of any
      governmental authority under any Federal or state law before such shares or
      other securities may be validly issued or delivered upon conversion, then
      Borrower and the holders of this Note will in good faith and as expeditiously
      as
      possible endeavor to secure such registration or approval, as the case may
      be.

    

    (j) All
      shares of Common Stock or other securities which may be issued upon conversion
      of this Note will upon issuance by Borrower be duly and validly issued, fully
      paid and nonassessable and free from all taxes, liens and charges with respect
      to the issuance thereof and Borrower shall take no action which will cause
      a
      contrary result.

    

    (k)
      Borrower shall use its commercially reasonable efforts to register the shares
      issuable upon conversion of this Note on the Current Registration Statement;
      provided, however, that if the Borrower’s counsel determines in good faith that
      the shares issuable upon conversion of this Note cannot be registered on such
      Current Registration Statement then the
      Borrower agrees to use its commercially reasonable efforts to file an additional
      Registration Statement on Form S-1 (the “Additional Registration Statement”) or
      such other appropriate form for the general registration of the resale of the
      shares issuable upon conversion of this Note within 60 days following the
      effective date of the Current Registration Statement. The Borrower agrees to
      use
      commercially reasonable efforts to cause the Additional Registration Statement
      to be declared effective within 90 days of the date of filing of such Additional
      Registration Statement. Sections 4, 5, 6, 8, 9, 10, 11 and 12(a), 12(b), 12(e),
      12(g) (the “Incorporated Sections”) of that certain Registration Rights
      Agreement dated as of June 30, 2005 between the Borrower and the parties set
      forth on the signature page and Exhibit A to such agreement (the “Existing
      Registration Rights Agreement”) are incorporated herein by reference and made a
      part of this Note. Terms used in the Incorporated Sections not otherwise defined
      in this Note shall have the meaning assigned to them under Section 1 of the
      Existing Registration Rights Agreement. The term Registrable Securities in
      the
      Incorporated Sections shall be deemed to include the shares issuable upon
      conversion of this Note. Nothing contained herein shall be construed to
      incorporate by reference any other section of the Existing Registration Rights
      Agreement except those specifically set forth herein.

     

    
      
         

      

      
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    8. 
Default;
      Remedies.

     

    Upon
      the
      occurrence of an Event of Default, and without notice or demand, all amounts
      owed under this Note, including all accrued but unpaid interest, shall
      thereafter bear interest at the rate of 5% per annum above the Note Rate (the
      “Default Rate”) until all Events of Default are cured. Failure to exercise any
      option granted to Lender hereunder shall not waive the right to exercise the
      same in the event of any subsequent Event of Default. Interest at the Default
      Rate shall commence to accrue upon the occurrence of any Event of Default,
      including the failure to pay this Note at maturity.

    

    9. 
Attorneys’
      Fees.

     

    The
      Borrower agrees to pay all costs of collection incurred in enforcing this Note,
      including attorneys' fees and costs at both trial and appellate levels and
      in
      any bankruptcy action. In the event any legal proceedings are instituted in
      connection with, or for the enforcement of this Note, the Lender shall be
      entitled to recover its costs of suit, including attorneys' fees and costs,
      at
      both trial and appellate levels and in any bankruptcy action.
      

    

    10. 
Miscellaneous

    

    Every
      person or entity at any time liable for the payment of the indebtedness
      evidenced hereby waives presentment for payment, demand, and notice of
      nonpayment of this Note. Every such person or entity further hereby consents
      to
      any extension of the time of payment hereof, the release of all or any part
      of
      the security herefor or the release of any party liable for the payment of
      the
      indebtedness evidenced hereby at any time and from time to time at the request
      of anyone now or hereafter liable therefor. Any such extension or release may
      be
      made without notice to any of such persons or entities and without discharging
      their liability.

    

    The
      entity that signs this Note is liable for the full repayment of the entire
      indebtedness evidenced hereby and the full performance of each and every
      obligation contained in the Security Documents.

    

    The
      headings to the various sections have been inserted for convenience of reference
      only and do not define, limit, modify, or expand the express provisions of
      this
      Note.

    

    Any
      provision of this Note may be amended, waived or modified upon the written
      consent of the Borrower and the Lender.

    

    Time
      is
      of the essence under this Note and in the performance of every term, covenant,
      and obligation contained herein.

     

    
      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

    This
      Note
      is made with reference to and is to be construed in accordance with the laws
      of
      the state of Texas, without regard to its conflict of law
      principles.

     

    If
      this
      Note or any of the Security Documents are lost, stolen, mutilated or destroyed
      and Lender delivers to Borrower an indemnification agreement in a form
      reasonably satisfactory to Borrower reasonably indemnifying Borrower against
      any
      loss or liability resulting therefrom, Borrower will execute and deliver to
      Lender a replacement thereof in form and content identical to the original
      document which will have the effect of the original for all
      purposes.

    

    11. 
Transfer
      of this Note or Securities Issuable on Conversion
      Hereof. 

    

    With
      respect to any offer, sale or other disposition of this Note or securities
      into
      which such Note may be converted, Lender will give written notice to the
      Borrower prior thereto, describing briefly the manner thereof, together with
      a
      written opinion of Lender’s counsel, or other evidence reasonably satisfactory
      to the Borrower, to the effect that such offer, sale, or other distribution
      may
      be effected without registration or qualification under any applicable federal
      or state law then in effect. Upon receiving such written notice and reasonably
      satisfactory opinion or other evidence, the Borrower, as promptly as
      practicable, shall notify Lender that Lender may sell or otherwise dispose
      of
      this Note or such securities, all in accordance with the terms of the notice
      delivered to the Borrower. If a determination has been made pursuant to this
      Section 11 that the opinion of counsel for Lender, or other evidence, is
      not reasonably satisfactory to the Borrower, the Borrower shall so notify Lender
      promptly after such determination has been made. Each Note thus transferred
      and
      each certificate representing the securities thus transferred shall bear a
      legend as to the applicable restrictions on transferability in order to ensure
      compliance with the Securities Act of 1933, as amended (the “Act”), unless in
      the opinion of counsel for the Borrower such legend is not required in order
      to
      ensure compliance with the Act. The Borrower may issue stop transfer
      instructions to its transfer agent in connection with such restrictions. Subject
      to the foregoing, transfers of this Note shall be registered upon registration
      books maintained for such purpose by or on behalf of the Borrower as provided
      in
      the Loan Agreement. Prior to presentation of this Note for registration of
      transfer, the Borrower shall treat the registered holder hereof as the owner
      and
      holder of this Note for the purpose of receiving all payments of principal
      and
      interest hereon and for all other purposes whatsoever, whether or not this
      Note
      shall be overdue and the Borrower shall not be affected by notice to the
      contrary. Notwithstanding the foregoing, this Section 11 shall not apply to
      securities into which this Note may be converted following the registration
      of
      such securities pursuant to Section 7(k) of this Agreement. Notwithstanding
      the
      foregoing, this Note may not be transferred prior to the completion of the
      Rights Offering (as defined in the Loan Agreement) and the registration rights
      granted pursuant to Section 7(k) of this Note may not be
      transferred.

    

    12. 
Notices. 

    

    All
      notices, requests, demands, consents, instructions, or other communications
      required or permitted hereunder shall in writing and faxed, mailed, or delivered
      to each party at the respective addresses of the parties as set forth in the
      Loan Agreement, or at such other address or facsimile number as the Borrower
      shall have furnished to Lender in writing. All such notices and communications
      will be deemed effectively given the earlier of (a) when received,
      (b) when delivered personally, (c) one business day after being
      delivered by facsimile (with receipt of appropriate confirmation), (d) one
      business day after being deposited with an overnight courier service of
      recognized standing or (e) four days after being deposited in the U.S.
      mail, first class with postage prepaid.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    13. 
Pari
      Passu Notes. 

    

    Lender
      acknowledges and agrees that the payment of all or any portion of the
      outstanding principal amount of this Note and all interest hereon shall be
      pari
      passu in
      right
      of payment and in all other respects to the other Notes issued pursuant to
      the
      Loan Agreement or pursuant to the terms of such Notes. In the event Lender
      receives payments in excess of its pro rata share of the Borrower’s payments to
      the Lenders of all of the Notes, then Lender shall hold in trust all such excess
      payments for the benefit of the holders of the other Notes and shall pay such
      amounts held in trust to such other holders upon demand by such
      holders.

    

    14. 
Consent
      to Jurisdiction.
      

    

    Borrower
      irrevocably submits to the jurisdiction of any state or federal court sitting
      in
      Houston, Texas, over any suit, action, or proceeding arising out of or relating
      to this Note or the loan evidenced hereby. Borrower irrevocably waives, to
      the
      fullest extent permitted by law, any objection that Borrower may now or
      hereafter have to the laying of venue of any such suit, action, or proceeding
      brought in any such court and any claim that any such suit, action, or
      proceeding brought in any such court has been brought in an inconvenient forum.
      Borrower further consents and agrees to service of any summons, complaint or
      other legal process in any such suit, action or proceeding by registered or
      certified U.S. mail, postage prepaid, to Borrower at the address for notices
      set
      forth following its signature, and consents and agrees that such service shall
      constitute in every respect valid and effective service (but nothing herein
      shall affect the validity or effectiveness of process served in any other manner
      permitted by law).

    

    15. 
WAIVER
      OF JURY TRIAL.
      

    

    LENDER
      AND BORROWER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS
      THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON,
      OR
      ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THE LOAN, THIS NOTE OR ANY OTHER
      LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER
      ORAL OR WRITTEN), OR ACTIONS OF LENDER OR BORROWER. THIS PROVISION IS A MATERIAL
      INDUCEMENT FOR LENDER TO MAKE THE LOAN TO BORROWER.

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    DATED
      as
      of the day and year first above written.

    

      
        	 	
                RONCO
                  CORPORATION, a Delaware corporation

              
	 	 
	 	 
	 	
                By:
                  /s/Paul
                  Kabashima                                                  
                  

              
	 	
                Name:
                  Paul Kabashima

              
	 	
                Title:
                  Interim President and Chief Executive
                  Officer

              

      

    

     

    Address:

    

    61
      Moreland Road

    Simi
      Valley, CA 93065

    

    

     

     

    
 

    
      
         

      

      
        9THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
      STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE
      OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
      IN
      THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER
      SAID
      ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO RONCO CORPORATION THAT SUCH REGISTRATION IS NOT
      REQUIRED.

     

    Right
      to
      Purchase up to 1,750,000 Shares of Common Stock of

     

    RONCO
      CORPORATION 

    (subject
      to adjustment as provided herein)

     

    COMMON
      STOCK PURCHASE WARRANT

     

    
      	No. _________________ 	 	
              Issue Date:
                October 18,
                2006

            

    

     

    RONCO
      CORPORATION , a corporation organized under the laws of the State of Delaware
      (the “Company”), hereby certifies that, for value received, LAURUS MASTER FUND,
      LTD., or assigns (the “Holder”), is entitled, subject to the terms set forth
      below, to purchase from the Company (as defined herein) from and after the
      Issue
      Date of this Warrant and at any time or from time to time after the date hereof
      until October 18, 2036, up to 1,750,000 fully paid and nonassessable shares
      of
      Common Stock (as hereinafter defined), $0.00001 par value per share, at the
      applicable Exercise Price per share (as defined below). The number of such
      shares of Common Stock and the applicable Exercise Price per share are subject
      to adjustment as provided herein.

     

    As
      used
      herein the following terms, unless the context otherwise requires, have the
      following respective meanings: 

     

    (a)  The
      term
“Company” shall include RONCO CORPORATION and any person or entity which shall
      succeed, or assume the obligations of, RONCO CORPORATION hereunder.

     

    (b)  The
      term
“Common Stock” includes (i) the Company’s Common Stock, par value $0.00001 per
      share; and (ii) any other securities into which or for which any of the
      securities described in the preceding clause (i) may be converted or exchanged
      pursuant to a plan of recapitalization, reorganization, merger, sale of assets
      or otherwise.

     

    (c)  The
      term
“Other Securities” refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 4 or otherwise. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (d)  The
      “Exercise Price” applicable under this Warrant shall be $0.00001.

     

    1.  Exercise
      of Warrant.
      

     

    1.1  Number
      of Shares Issuable upon Exercise.
      From
      and after the date hereof through and including the Expiration Date, the Holder
      shall be entitled to receive, upon exercise of this Warrant in whole or in
      part,
      by delivery of an original or fax copy of an exercise notice in the form
      attached hereto as Exhibit A (the “Exercise Notice”), shares of Common Stock of
      the Company, subject to adjustment pursuant to Section 4.

     

    1.2  Fair
      Market Value.
      For
      purposes hereof, the “Fair Market Value” of a share of Common Stock as of a
      particular date (the “Determination Date”) shall mean: 

     

    (a)  If
      the
      Company’s Common Stock is traded on the American Stock Exchange or another
      national exchange or is quoted on the National or Capital Market of The Nasdaq
      Stock Market, Inc. (“Nasdaq”), then the closing or last sale price,
      respectively, reported for the last business day immediately preceding the
      Determination Date.

     

    (b)  If
      the
      Company’s Common Stock is not traded on the American Stock Exchange or another
      national exchange or on the Nasdaq but is traded on the OTC Bulletin Board,
      then
      the mean of the average of the closing bid and asked prices reported for the
      last business day immediately preceding the Determination Date.

     

    (c)  Except
      as
      provided in clause (d) below, if the Company’s Common Stock is not publicly
      traded, then as the Holder and the Company agree or in the absence of agreement
      by arbitration in accordance with the rules then in effect of the American
      Arbitration Association, before a single arbitrator to be chosen from a panel
      of
      persons qualified by education and training to pass on the matter to be
      decided.

     

    (d)  If
      the
      Determination Date is the date of a liquidation, dissolution or winding up,
      or
      any event deemed to be a liquidation, dissolution or winding up pursuant to
      the
      Company’s charter, then all amounts to be payable per share to holders of the
      Common Stock pursuant to the charter in the event of such liquidation,
      dissolution or winding up, plus all other amounts to be payable per share in
      respect of the Common Stock in liquidation under the charter, assuming for
      the
      purposes of this clause (d) that all of the shares of Common Stock then issuable
      upon exercise of the Warrant are outstanding at the Determination
      Date.

     

    1.3  Company
      Acknowledgment.
      The
      Company will, at the time of the exercise of this Warrant, upon the request
      of
      the holder hereof acknowledge in writing its continuing obligation to afford
      to
      such holder any rights to which such holder shall continue to be entitled after
      such exercise in accordance with the provisions of this Warrant. If the holder
      shall fail to make any such request, such failure shall not affect the
      continuing obligation of the Company to afford to such holder any such rights.
      

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    1.4  Trustee
      for Warrant Holders.
      In the
      event that a bank or trust company shall have been appointed as trustee for
      the
      holders of this Warrant pursuant to Subsection 3.2, such bank or trust company
      shall have all the powers and duties of a warrant agent (as hereinafter
      described) and shall accept, in its own name for the account of the Company
      or
      such successor person as may be entitled thereto, all amounts otherwise payable
      to the Company or such successor, as the case may be, on exercise of this
      Warrant pursuant to this Section 1.

     

    2.  Procedure
      for Exercise.

     

    2.1  Delivery
      of Stock Certificates, Etc., on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder as the record owner of such
      shares as of the close of business on the date on which this Warrant shall
      have
      been surrendered and payment made for such shares in accordance herewith. As
      soon as practicable after the exercise of this Warrant in full or in part,
      and
      in any event within three (3) business days thereafter, the Company at its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder, or as such Holder
      (upon
      payment by such Holder of any applicable transfer taxes) may direct in
      compliance with applicable securities laws, a certificate or certificates for
      the number of duly and validly issued, fully paid and nonassessable shares
      of
      Common Stock (or Other Securities) to which such Holder shall be entitled on
      such exercise, plus, in lieu of any fractional share to which such holder would
      otherwise be entitled, cash equal to such fraction multiplied by the then Fair
      Market Value of one full share, together with any other stock or other
      securities and property (including cash, where applicable) to which such Holder
      is entitled upon such exercise pursuant to Section 1 or otherwise.

     

    2.2  Exercise.
      

     

    (a)  Payment
      may be made either (i) in cash or by certified or official bank check payable
      to
      the order of the Company equal to the applicable aggregate Exercise Price,
      (ii)
      by delivery of this Warrant, or shares of Common Stock and/or Common Stock
      receivable upon exercise of this Warrant in accordance with the formula set
      forth in subsection (b) below, or (iii) by a combination of any of the foregoing
      methods, for the number of Common Shares specified in such Exercise Notice
      (as
      such exercise number shall be adjusted to reflect any adjustment in the total
      number of shares of Common Stock issuable to the Holder per the terms of this
      Warrant) and the Holder shall thereupon be entitled to receive the number of
      duly authorized, validly issued, fully-paid and non-assessable shares of Common
      Stock (or Other Securities) determined as provided herein. 

     

    (b)  Notwithstanding
      any provisions herein to the contrary, if the Fair Market Value of one share
      of
      Common Stock is greater than the Exercise Price (at the date of calculation
      as
      set forth below), in lieu of exercising this Warrant for cash, the Holder may
      elect to receive shares equal to the value (as determined below) of this Warrant
      (or the portion thereof being exercised) by surrender of this Warrant at the
      principal office of the Company together with the properly endorsed Exercise
      Notice in which event the Company shall issue to the Holder a number of shares
      of Common Stock computed using the following formula:

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    X= _Y(A-B)_

                                
      A

     

    Where
      X =
the
      number of shares of Common Stock to be issued to the Holder

     

    Y
      =            
the
      number of shares of Common Stock purchasable under this Warrant or, if only
      a
      portion of this Warrant is 

                      
      being exercised, the
      portion of this Warrant being exercised (at the date of such
      calculation)

     

    A
      =            the
      Fair
      Market Value of one share of the Company’s Common Stock (at the date of such
      calculation)

     

    B
      =             the
      Exercise Price per share (as adjusted to the date of such
      calculation)

     

    3.  Effect
      of Reorganization, Etc.; Adjustment of Exercise Price.

     

    3.1  Consolidation,
      Merger, or Dissolution for Cash or Property.
      In case
      at any time or from time to time, the Company shall (a) consolidate with or
      merge into any other person where the consideration to be received by the
      Company’s stockholders is something other than Other Securities, or (b) transfer
      all or substantially all of its properties or assets to any other person under
      any plan or arrangement contemplating the dissolution of the Company or where
      the consideration to be received by the Company is something other than Other
      Securities, then, in each such case, as a condition to the consummation of
      such
      a transaction, this Warrant shall be deemed to have been exercised just prior
      to
      the consummation of such transaction, and the Holder shall receive, in lieu
      of
      the Common Stock (or Other Securities) issuable on such exercise prior to such
      consummation or such effective date, the cash and other property to which such
      Holder would be entitled upon such consummation or in connection with such
      dissolution, as the case may be, as a stockholder of the Company, all subject
      to
      further adjustment thereafter as provided in Section 4.

     

    3.2  Dissolution.
      In the
      event of any dissolution of the Company following the transfer of all or
      substantially all of its properties or assets, the Company, concurrently with
      any distributions made to holders of its Common Stock, shall at its expense
      deliver or cause to be delivered to the Holder the stock and other securities
      and property (including cash, where applicable) receivable by the Holder
      pursuant to Section 3.1, or, if the Holder shall so instruct the Company, to
      a
      bank or trust company specified by the Holder and having its principal office
      in
      New York, NY as trustee for the Holder.

     

    3.3  Reorganization,
      Consolidation, Merger, Etc.
      In case
      at any time or from time to time, the Company shall (a) effect a reorganization,
      (b) consolidate with or merge into any other person where the consideration
      to
      be received by the Company’s stockholders is Other Securities, or (c) transfer
      all or substantially all of its properties or assets to any other person under
      any plan or arrangement not contemplating the dissolution of the Company or
      where the 

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    consideration
      to be received by the Company is Other Securities, then, in each such case,
      as a
      condition to the consummation of such a transaction, proper and adequate
      provision shall be made by the Company whereby the Holder, on the exercise
      hereof as provided in Section 1 at any time after the consummation of such
      reorganization, consolidation or merger, as the case may be, shall receive,
      in
      lieu of the Common Stock (or Other Securities) issuable on such exercise prior
      to such consummation or such effective date, the Other Securities to which
      such
      Holder would have been entitled upon such consummation, if such Holder had
      so
      exercised this Warrant, immediately prior thereo, all subject to further
      adjustment thereafter as provided in Section 4. Upon any reorganization,
      consolidation, merger or transfer (not followed by dissolution) referred to
      in
      this Section 3.3, this Warrant shall continue in full force and effect and
      the
      terms hereof shall be applicable to the Other Securities receivable on the
      exercise of this Warrant after the consummation of such reorganization,
      consolidation or merger, as the case may be, and shall be binding upon the
      issuer of any such Other Securities. 

     

    4.  Extraordinary
      Events Regarding Common Stock.
      In the
      event that the Company shall (a) issue additional shares of the Common Stock
      as
      a dividend or other distribution on outstanding Common Stock, (b) subdivide
      its
      outstanding shares of Common Stock, (c) combine its outstanding shares of the
      Common Stock into a smaller number of shares of the Common Stock, then, in
      each
      such event, the Exercise Price shall, simultaneously with the happening of
      such
      event, be adjusted by multiplying the then Exercise Price by a fraction, the
      numerator of which shall be the number of shares of Common Stock outstanding
      immediately prior to such event and the denominator of which shall be the number
      of shares of Common Stock outstanding immediately after such event, and the
      product so obtained shall thereafter be the Exercise Price then in effect.
      The
      Exercise Price, as so adjusted, shall be readjusted in the same manner upon
      the
      happening of any successive event or events described herein in this Section
      4.
      The number of shares of Common Stock that the holder shall thereafter, on the
      exercise hereof as provided in Section 1, be entitled to receive shall be
      adjusted to a number determined by multiplying the number of shares of Common
      Stock that would have been issuable on such exercise immediately prior to such
      event by a fraction of which (a) the numerator is the Exercise Price that was
      in
      effect prior to such event, and (b) the denominator is the Exercise Price after
      such event (taking into account the provisions of this Section 4).

     

    5.  Certificate
      as to Adjustments.
      In each
      case of any adjustment or readjustment in the shares of Common Stock (or Other
      Securities) issuable on the exercise of this Warrant, the Company at its expense
      will promptly cause its Chief Financial Officer or other appropriate designee
      to
      compute such adjustment or readjustment in accordance with the terms of this
      Warrant and prepare a certificate setting forth such adjustment or readjustment
      and showing in detail the facts upon which such adjustment or readjustment
      is
      based, including a statement of (a) the consideration received or receivable
      by
      the Company for any additional shares of Common Stock (or Other Securities)
      issued or sold or deemed to have been issued or sold, (b) the number of shares
      of Common Stock (or Other Securities) outstanding or deemed to be outstanding,
      and (c) the Exercise Price and the number of shares of Common Stock to be
      received upon exercise of this Warrant, in effect immediately prior to such
      adjustment or readjustment and as adjusted or readjusted as provided in this
      Warrant. The Company will forthwith mail a copy of each such certificate to
      the
      holder and any Warrant agent of the Company (appointed pursuant to Section
      11
      hereof).

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    6.  Reservation
      of Stock, Etc., Issuable on Exercise of Warrant.
      The
      Company will at all times reserve and keep available, solely for issuance and
      delivery on the exercise of this Warrant, shares of Common Stock (or Other
      Securities) from time to time issuable on the exercise of this
      Warrant.

     

    7.  Assignment;
      Exchange of Warrant.
      Subject
      to compliance with applicable securities laws, this Warrant, and the rights
      evidenced hereby, may be transferred by any registered holder hereof (a
“Transferor”) in whole or in part. On the surrender for exchange of this
      Warrant, with the Transferor’s endorsement in the form of Exhibit B attached
      hereto (the “Transferor Endorsement Form”) and together with evidence reasonably
      satisfactory to the Company demonstrating compliance with applicable securities
      laws, which shall include, without limitation, a legal opinion from the
      Transferor’s counsel (at the Transferor’s expense) that such transfer is exempt
      from the registration requirements of applicable securities laws, the Company
      at
      its expense (but with payment by the Transferor of any applicable transfer
      taxes) will issue and deliver to or on the order of the Transferor thereof
      a new
      Warrant of like tenor, in the name of the Transferor and/or the transferee(s)
      specified in such Transferor Endorsement Form (each a “Transferee”), calling in
      the aggregate on the face or faces thereof for the number of shares of Common
      Stock called for on the face or faces of the Warrant so surrendered by the
      Transferor.

     

    8.  Replacement
      of Warrant.
      On
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant and, in the case of any such loss,
      theft or destruction of this Warrant, on delivery of an indemnity agreement
      or
      security reasonably satisfactory in form and amount to the Company or, in the
      case of any such mutilation, on surrender and cancellation of this Warrant,
      the
      Company at its expense will execute and deliver, in lieu thereof, a new Warrant
      of like tenor.

     

    9.  Registration
      Rights.
      The
      Holder has been granted certain registration rights by the Company. These
      registration rights are set forth in a Registration Rights Agreement entered
      into by the Company and Holder dated as of the date hereof, as the same may
      be
      amended, modified and/or supplemented from time to time.

     

    10.  Maximum
      Exercise.
      Notwithstanding anything herein to the contrary, in no event shall the Holder
      be
      entitled to exercise any portion of this Warrant in excess of that portion
      of
      this Warrant upon exercise of which the sum of (1) the number of shares of
      Common Stock beneficially owned by the Holder and its Affiliates (other than
      shares of Common Stock which may be deemed beneficially owned through the
      ownership of the unexercised portion of the Warrant or the unexercised or
      unconverted portion of any other security of the Holder subject to a limitation
      on conversion analogous to the limitations contained herein) and (2) the number
      of shares of Common Stock issuable upon the exercise of the portion of this
      Warrant with respect to which the determination of this proviso is being made,
      would result in beneficial ownership by the Holder and its Affiliates of any
      amount greater than 4.99% of the then outstanding shares of Common Stock
      (whether or not, at the time of such exercise, the Holder and its Affiliates
      beneficially own more than 4.99% of the then outstanding shares of Common
      Stock). As used herein, the term “Affiliate” means any person or entity that,
      directly or indirectly through one or more intermediaries, controls or is
      controlled by or is under common control with a person or entity, as such terms
      are used in and construed under Rule 144 under the Securities Act.   For
      purposes of the proviso to the second preceding sentence, beneficial ownership
      shall be determined in accordance with Section 13(d) of the Securities Exchange
      Act of 1934, as amended, and Regulations 13D-G thereunder, except as otherwise
      provided in clause (1) of such proviso.  

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    11.  Warrant
      Agent.
      The
      Company may, by written notice to each Holder of the Warrant, appoint an agent
      for the purpose of issuing Common Stock (or Other Securities) on the exercise
      of
      this Warrant pursuant to Section 1, exchanging this Warrant pursuant to Section
      7, and replacing this Warrant pursuant to Section 8, or any of the foregoing,
      and thereafter any such issuance, exchange or replacement, as the case may
      be,
      shall be made at such office by such agent.

     

    12.  Transfer
      on the Company’s Books.
      Until
      this Warrant is transferred on the books of the Company, the Company may treat
      the registered holder hereof as the absolute owner hereof for all purposes,
      notwithstanding any notice to the contrary.

     

    13.  Notices,
      Etc.
      All
      notices and other communications from the Company to the Holder shall be mailed
      by first class registered or certified mail, postage prepaid, at such address
      as
      may have been furnished to the Company in writing by such Holder or, until
      any
      such Holder furnishes to the Company an address, then to, and at the address
      of,
      the last Holder who has so furnished an address to the Company. All notices
      shall be effective upon receipt.

     

    14.  Miscellaneous.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. THIS WARRANT SHALL
      BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
      YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. ANY ACTION BROUGHT
      CONCERNING THE TRANSACTIONS CONTEMPLATED BY THIS WARRANT SHALL BE BROUGHT ONLY
      IN STATE COURTS OF NEW YORK OR IN THE FEDERAL COURTS LOCATED IN THE STATE OF
      NEW
      YORK; PROVIDED, HOWEVER, THAT THE HOLDER MAY CHOOSE TO WAIVE THIS PROVISION
      AND
      BRING AN ACTION OUTSIDE THE STATE OF NEW YORK. The individuals executing this
      Warrant on behalf of the Company agree to submit to the jurisdiction of such
      courts and waive trial by jury. The prevailing party shall be entitled to
      recover from the other party its reasonable attorneys’ fees and costs. In the
      event that any provision of this Warrant is invalid or unenforceable under
      any
      applicable statute or rule of law, then such provision shall be deemed
      inoperative to the extent that it may conflict therewith and shall be deemed
      modified to conform with such statute or rule of law. Any such provision which
      may prove invalid or unenforceable under any law shall not affect the validity
      or enforceability of any other provision of this Warrant. The headings in this
      Warrant are for purposes of reference only, and shall not limit or otherwise
      affect any of the terms hereof. The Company acknowledges that legal counsel
      participated in the preparation of this Warrant and, therefore, stipulates
      that
      the rule of construction that ambiguities are to be resolved against the
      drafting party shall not be applied in the interpretation of this Warrant to
      favor any party against the other party.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

     

    [BALANCE
      OF PAGE INTENTIONALLY LEFT BLANK;

    SIGNATURE
      PAGE FOLLOWS]

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the Company has executed this Warrant as of the date first
      written above. 

     

    
      	 	
              RONCO
                CORPORATION 

            
	
              WITNESS:

            	 
	 	
              By:  
                /s/
                Paul
                Kabashima                      
                

            
	 	
              Name:   
                Paul
                Kabashima                      
                

            
	
              unintelligible                                     
                

            	
              Title:     
                Interim
                President                    
                

            

    

     

    

     

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    EXHIBIT
      A

     

    FORM
      OF SUBSCRIPTION

    (To
      Be
      Signed Only On Exercise of Warrant)

     

    
      	
              TO:

            	
              RONCO
                CORPORATION 

            

      	 	_____________________

      	 	
              _____________________

            

    

     

    Attention: Chief
      Financial Officer

     

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No.____), hereby irrevocably elects to purchase (check applicable
      box):

     

    ________ 
shares
      of
      the common stock covered by such warrant; or 

     

    ________ 
the
      maximum number of shares of common stock covered by such warrant pursuant to
      the
      cashless exercise procedure 

                                    
      set forth in Section 2.

     

    The
      undersigned herewith makes payment of the full Exercise Price for such shares
      at
      the price per share provided for in such Warrant, which is $___________. Such
      payment takes the form of (check applicable box or boxes):

     

    ________ 
$__________
      in lawful money of the United States; and/or

     

    ________ 
the
      cancellation of such portion of the attached Warrant as is exercisable for
      a
      total of _______ shares of Common 

                                    
      Stock (using a Fair Market Value of $_______ per share for purposes of this
      calculation); and/or

     

    ________            
      the
      cancellation of such number of shares of Common Stock as is necessary, in
      accordance with the formula set forth 

                                   
      in Section 2.2, to exercise this Warrant with respect to the maximum number
      of
      shares of Common Stock purchasable 

                                   
      pursuant to the cashless exercise procedure set forth in Section 2.

     

     

    The
      undersigned requests that the certificates for such shares be issued in the
      name
      of, and delivered to _________________________whose address is
      _____________________________________________________________________.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the securities issuable upon exercise of the within Warrant shall be made
      pursuant to registration of the Common Stock under the Securities Act of 1933,
      as amended (the “Securities Act”) or pursuant to an exemption from registration
      under the Securities Act.

     

    
      	
              Dated:

            	___________________________ 	________________________________________ 
	 	 	
              (Signature
                must conform to name of holder as 

              specified
                on the face of the Warrant)

            
	 	 	
              Address:

            	_____________________________ 
	 	 	 	_____________________________ 

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    EXHIBIT
      B

     

    FORM
      OF TRANSFEROR ENDORSEMENT

    (To
      Be
      Signed Only On Transfer of Warrant)

     

    For
      value
      received, the undersigned hereby sells, assigns, and transfers unto the
      person(s) named below under the heading “Transferees” the right represented by
      the within Warrant to purchase the percentage and number of shares of Common
      Stock of RONCO CORPORATION into which the within Warrant relates specified
      under
      the headings “Percentage Transferred” and “Number Transferred,” respectively,
      opposite the name(s) of such person(s) and appoints each such person Attorney
      to
      transfer its respective right on the books of RONCO CORPORATION with full power
      of substitution in the premises.

     

    
      	
              Transferees

            	
              Address

            	
              Percentage
                

              Transferred

            	
              Number

              Transferred

            
	 	 	 	 
	 	 	 	 
	 	 	 	 

    

     

    
      	
              Dated:

            	_______________________	 	________________________________ 
	 	 	 	
              (Signature
                must conform to name of holder as 

              specified
                on the face of the Warrant)

            
	 	 	 	
              Address:
                _____________________

            
	 	 	 	            
              _____________________
	 	 	 	 	 
	 	 	 	
              SIGNED
                IN THE PRESENCE OF:

            
	 	 	 	________________________________
	 	 	 	
              (Name)

            

    

     

    ACCEPTED
      AND AGREED:

    [TRANSFEREE]

     

    ___________________________________

    (Name)

     

    

    
      
         

      

      
        11

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