Document:

exh10-1.htm

Exhibit 10.1

[Spanish to English Translation]

 

La Serena, Chile          October 9th, 2013

 

Oscar Fernandez Mora, Lawyer appear on behalf of Eduardo Rene Carriel Gonzales (ID No: 7,550,695-3), representative of SEAWOLF GROUP MINERAL SERVICES EXPOERACIONES, IMPORTACIONES S.A., (“SWG”) company duly incorporated in Chile, ROL No: 76,120,429-7

 

Other parties, CDII MINERALS, INC., “CDIIM” also know interchangeably as “CDIIM” CDII TRADING, INC., “CDIIT” both companies duly incorporated in the state of Florida, USA, and INVERSIONES CDII MINERALS CHILE LIMITADA., “CDII CHILE” (ROL No 76,242,796-6); represented by YUEJIAN WANG, USA passport No 483-664-766

 

	
  

	
1.

	
BACKGROUND:

 

	
  

	
a.

	
SWG together with CDIIT they developed business activities related to iron material, product of such relationships invested money altogether. Product  of investments and works done by CDII contributed with the excess amount of USD $2,229,622.00

 

	
  

	
b.

	
CDII MINERALS Inc., acquired all titles and interests of CDII TRADING, INC., as set provided in the Act of Sale issued by Sonya L. Salkin, Trustee in the Bankruptcy of CDII TRADING, Inc., Case No. 12-15810 JKO. (expressly including the credits that CDIIT had in relation to SWG)

 

	
  

	
c.

	
The parties have reached agreements and concessions, as established in this agreement in order to avoid any dispute between them. CDIIM gave CDII CHILE the entire credit that CDIIT had originally with SWG.

 

	
  

	
2.

	
DEBT

 

Product of commercial activities between the companies, which will be developed in the coming years and the trade agreement reached in the present instrument, SWG, assumes CDII CHILE debt in the amount of USD $2,229,622.00

 

	
  

	
3.

	
TRADE AGREEMENT AND PAYMENT OF DEBT:

 

The appearing parties agree that the hat the debt referred to, will be pay for SWG, to CDIIT, in the following way:

 

	
  

	
a.

	
Brokerage General of Mining Assets and Properties: SWG can find and negotiate at least possible price mining properties or other assets that they may be of interest of CHILE CDII or CDIIM, who will be able to directly or indirectly acquire such properties or activate the price and conditions negotiated by SWG, and then sell them to a third buyer at the highest price possible. Utility, this is the price difference between the brokered produced by SWG and the highest price differential obtained by CHILE CDII or CDIIM, in the sale of such properties or assets, shall be apportioned and impute to fall in the following way: all earnings received by the CHILE CDII or CDIIM, directly or indirectly, will be divided into equal parts between these and SWG. Corresponding to  SWG 50% of profit and 50% for CHILE CDII or CDIIM. The parties agree that a sum equivalent to the amount received by CDII CHILE or CDIIM, will be reduced from the total amount of existing debt between SWG and CDII CHILE.

 

  

- 1 -

  

	
  

	
b.

	
Brokerage of La Lapa Uno al Trece Mine:

 

	
  

	
i.

	
The parties agree to mutual interest to achieve the sale of mining property called “La Lapa Uno al Trece”. In the event of making the sale of the aforementioned mining property an amount equivalent to 50% of the sales price discounted part of the price that corresponds to pay at the time the legitimate owner ("Owner of the Lapa"), that is set to in this Act in the amount of USD $300,000, will be paid to CHILE CDII or CDIIM, and a sum equivalent to the amount received by CHILE CDII or CDIIM as the case, will be reduced from the existing total amount existing at the time between SWG-CDII CHILE.

 

	
  

	
ii.

	
CDII may force SWG to sell in the event that is the holder of the mining property, or force SWG to make the owners of the mining property sell, in the case that owners are third parties at that time, in the event that CDII get an offer for the purchase of property of one value of not less than USD $850,000, it needs to be pay in cash. CDII CHILE shall communicate this circumstance by registered letter sent to the domicile of SWG with acknowledgement of receipt, in which indicate the price to be paid by the third party for the mining property and other terms and conditions of sale, which in no case may contain provisions that are not usually established for this type of operation. In the event that CDII make use of their rights under this clause ii and requires the sale of the mining property, the price paid by the third party, discounted part of the price that corresponds to pay at the time to the owner of the Lapa, everything will be divided in equal parts between CDII CHILE and SWG, and the debt will be reduced by an amount equivalent to the value perceived by CDII as a result of the sale. In the event that CDII CHILE notify SWG's of an offer for the mining property by a value equal to or greater than USD $850,000, and this offer meets the requirements set out in this clause, and SWG or owners refuse to comply with this section will be jointly and severally obliged to indemnify CDII CHILE and pay within 5 days an amount equivalent to 50% of the value offered by the third party. As provided in the present article i and ii, is valid for one year to the date of signing of this agreement. Subsequently, CDII CHILE is entitled an irrevocable of first choice in relation to the sale of the mining property so that if the owner of La Lapa wants to sell, assign or dispose the property to third parties, either on its own initiative or upon receipt of an offer by a third person, the owner of La Lapa must inform CDII CHILE of its real intention to sell the mining property indicating the sale price and the other terms of the sale to the third party. CDII CHILE shall have a period of 30 business days from receipt of the offer to respond. If CDII CHILE accepts the offer, the acceptance must be communicated to the owner of La Lapa. In such a case, the parties must sign a contract of sale and CDII CHILE must pay the price indicated in the offer, within a period of 30 business days. If CDII CHILE does not communicate to the owner of the Lapa their acceptance or rejection within the period of 30 days, means that CDII CHILE has rejected the offer and the owner may sell the mining property to a third party. If the owner of the Lapa do not sale within the period of 30 days, the offer should be rejected, if the owner still wants to sell the property, should receive back the same or a new offer, and then must again convey CDIICHILE. In any case, what is established in present clause is valid for 24 months from the signing of this agreement, within this period, the owners may provide at its discretion and without limitation of mining property terms of this agreement.

 

  

- 2 -

  

 

	
  

	
iii.SWG is obligated to pay a royalty, from 1st January 2014, CDII Chile should receive USD $3 per each metric tons of mining products that SWG direct or indirectly sells and from 1st April 2014, USD $4 per each metric tons of mining products that SWG directly or indirectly sells from the mining property "La Lapa". The royalty will be paid by SWG to CDII, on a quarterly basis, within the first five days. Each payment shall be accompanied by a settlement with sufficient detail to allow CDII CHILE to determine the method of calculation of that royalty.

 

	
  

	
c.

	
Copper Mine La Marina: For each metric ton that Inversiones Legend Dragon Chile Limitada, sells of La Marina copper mine, will be reduced from the total of the existing debt of USD$ 2.The reduction will take place automatically on a quarterly basis, within the first five days of each month. Each reduction must be accompanied by a settlement with sufficient detail to allow SWG can determine the calculation method.

 

	
  

	
4.

	
TERMS

 

The parties agree that if seven years after the date of signing of this agreement there is an outstanding payment of the debt assumed by SWG on this contract, it shall be liquid and payable in its entirety.

 

	
  

	
5.

	
STATEMENTS:

 

	
  

	
a.

	
The Parties shall declare that any payments or moneys received in the forms and conditions indicated in this agreement CDII or CDII, will be imputed to the debt assumed by SWG.

 

	
  

	
b.

	
They declare that it is the essence of this agreement and the acceptance of the debt by SWG, the trade agreement established in this agreement, as also the designated deadlines for the payment of the debt.

 

	
  

	
c.

	
The present, declare that the present agreement to primacy good faith between the parties, especially with regard to representations by which compare; and

 

	
  

	
d.

	
Hereby Eduardo René Carriel Gonzales, declares expressly and irrevocably which in the event that the totality of the debt indicated in the second clause of the present agreement is not paid in full within a period of seven years indicated above, the Eduardo Carriel y Compañia Limitada, remain jointly and severally liable to pay the debt within 30 days from the fulfillment of this period.

 

	
  

	
6.

	
RESERVE:

 

The parties are obliged to keep in strict reserve and keep confidential the content of this agreement and are obliged to not make public or to deliver confidential information to third parties.

 

	
  

	
7.

	
CONFLICT RESOLUTION:

 

Any difficulty or controversy arising between the parties with respect to the application, interpretation, duration, validity or execution of this agreement or any other reason shall be settled by the ordinary courts.

 

  

- 3 -

  

 

	
  

	
8.

	
DOMICILE: La serena, Chile

 

 

 

 

PARTIES :

 

 

 Eduardo Rene Carriel Gonzales representative of SEAWORLD GROUP MINERAL SERVICES EXPORTACIONES, IMPORTACIONES S.A.

 

 

Yuejian Wang representative of CDII MINERALS, INC.,CDII TRADING, INC. and INVERSIONES CDII MINERALES CHILE LIMITADA.

 

 

/s/ Eduardo Rene Carriel Gonzales

C.I. 7550.695-3

P.P. SEAWORLD GROUP MINERAL SERVICES EXPORTACIONES, IMPORTACIONES S.A.

 

 

 

/s/ Yuejian Wang

US PASSPORT: 4836642766

P.P. CDII MINERALS, INC., CDII TRADING, INC. and INVERSIONES CDII MINERALES CHILE LIMITADA.

 

 

 

  

- 4 -Exhibit
10.9        Form of Conversion Agreement and General Release dated April 30, 2013, between
Digital Creative Development Corporation and Goren Bros, LP. (6)

 

CONVERSION
AGREEMENT AND GENERAL RELEASE 

This
Conversion Agreement and General Release (this “Agreement”) is made and entered into this 30th day of April,
2013 (the “Effective Date”), by and among Digital Creative Development Corporation, a Delaware corporation
(“DCDC Delaware”), Digital Creative Development Corporation, a Utah corporation (“DCDC”
or the “Company”) located at 720 Fifth Avenue, 10th Floor,
New York, NY 10019, and the Goren Bros, LP (“Noteholder”), located 1211 Avenue of the Americas, 33rd
Floor, New York, NY 10019. DCDC Delaware, DCDC and the Noteholder are hereinafter
sometimes referred to individually as a “Party” and collectively as the “Parties.” 

RECITALS: 

WHEREAS, Noteholder
is the holder of a promissory note originally issued by DCDC Delaware in the aggregate principal amount of $60,000 (the “Note”);

WHEREAS, Noteholder,
the other holders of DCDC Delaware’s promissory notes (together with the Note, the “Investor Notes”) and
DCDC Delaware wish to convert the entire principal amount of the Note and all accrued and unpaid interest of $159,276 thereon into
shares of common stock, par value $.01 per share (“Common Stock”), of DCDC (such conversion is hereinafter referred
to as the “Conversion”), upon the terms and subject to the conditions set forth in this Agreement; and

WHEREAS,
upon the Conversion, the Note shall be extinguished and cancelled and all remaining outstanding obligations of DCDC Delaware under
the Note shall be terminated.

 

 

AGREEMENT 

NOW THEREFORE,
in consideration of the premises, mutual covenants, understandings and agreements contained in this Agreement and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and in complete settlement all of the parties'
claims against each other, is the Parties hereby agree as follows:

1. Incorporation of Recitals.
The Parties hereby agree and acknowledge that all of the Recitals set forth hereinabove are true, complete and correct in every
respect and hereby incorporate said Recitals into this Agreement by this reference.

2. Conversion of Note. Effective
as of the Effective Date, the entire principal amount of the Note and all accrued and unpaid interest thereon shall be
converted into 2,562,472 shares of Common Stock. Such conversion is hereinafter referred to as the
“Conversion,” and the shares of Common Stock to be received upon such Conversion, and any shares of Common
Stock to be hereafter received in respect of such shares by way of a stock dividend, stock split, subdivision,
reclassification or combination (as contemplated by Section 3(a) and Section 3(b)) are hereinafter referred to
as the “Conversion Shares.” On the Effective Date, Noteholder shall deliver the original Note to DCDC
Delaware for Conversion, and within five business days following the Effective Date, DCDC shall deliver to Noteholder one or
more certificates representing the Conversion Shares, free and clear of any liens or other encumbrances. The Conversion shall
be effective as of 11:59 p.m. on the Effective Date.

3. Adjustment of the Conversion
Price. The Conversion Price shall be adjusted from time to time as follows:

 

(a)
Issuances of Common Stock. If between the date hereof and the Effective Date DCDC Delaware shall pay or make a dividend or other
distribution on its Common Stock consisting exclusively of, or shall otherwise issue, Common Stock or securities convertible into
or exercisable for Common Stock or rights, options or warrants entitling the holders thereof to subscribe for or purchase Common
Stock (including without limitation the issuance of options or other equity securities under any equity compensation plan or agreement
of DCDC Delaware), the Conversion Price in effect at the close of business on the date fixed for the determination of stockholders
entitled to receive such securities, rights or warrants or for such issuance shall be reduced by multiplying such Conversion Price
by a fraction, of which the numerator shall be the number of Fully-Diluted Shares (as defined below) outstanding at the close
of business on the date fixed for such determination (but prior to such issuance) and the denominator shall be such number of
Fully-Diluted Shares plus the number of shares of Common Stock so issued, offered for subscription or purchase or issuable upon
conversion or exercise of the securities included in such issuance, dividend or other distribution, such reduction to become effective
immediately prior to the opening of business on the day following the date fixed for such determination or for such issuance;
provided, however, that no such adjustment shall be made upon the issuance of shares of Common Stock or securities
convertible into or exercisable for Common Stock, in connection with (1) the exercise of options pursuant to an equity incentive
or similar compensation plan or (2) the conversion or exercise of any other convertible or derivative security the grant or issuance
of which security previously resulted in a reduction of the Conversion Price hereunder. For the purposes of this subparagraph
(i), the number of Fully-Diluted Shares at any time shall not include shares held in the treasury of DCDC Delaware. For purposes
of this subparagraph (i), the issuance of rights or warrants to subscribe for or purchase stock or securities convertible into
or exchangeable for Common Stock shall be deemed to be the issuance of rights, options or warrants to purchase the Common Stock
into which such stock or securities are convertible or exercisable. In case any securities or rights, options or warrants referred
to in this subparagraph (i) in respect of which an adjustment shall have been made shall expire unexercised within 45 days after
the same shall have been distributed or issued by DCDC Delaware, the Conversion Price shall be readjusted at the time of such
expiration to the Conversion Price that would have been in effect if no adjustment had been made on account of the distribution
or issuance of such expired rights, options or warrants. “Fully-Diluted Shares” means the number of shares
of Common Stock issued and outstanding assuming the exercise of all outstanding options, warrants and rights to acquire, and the
conversion of any securities convertible or exercisable into, Common Shares (including all Investor Notes), whether or not then
vested, convertible or exercisable.

(b)
Stock Splits, Subdivisions, Reclassifications or Combinations. In case outstanding shares of Common Stock shall be subdivided
or reclassified into a greater number of shares of Common Stock, the Conversion Price in effect at the close of business on the
day upon which such subdivision or reclassification becomes effective shall be proportionately reduced, and conversely, in case
outstanding shares of Common Stock shall each be combined or reclassified into a smaller number of shares of Common Stock, the
Conversion Price in effect at the close of business on the day upon which such combination or reclassification becomes effective
shall be proportionately increased, such reduction or increase, as the case may be, to become effective immediately prior to the
opening of business on the day following the day upon which such subdivision or combination becomes effective.

(c)
Common Stock. For the purposes of this Agreement, the term “Common Stock” shall mean (x) (i) the Common Stock
or (ii) any other class of stock resulting from successive changes or reclassifications of such Common Stock consisting solely
of changes in par value or from no par value to par value, or from par value to no par value and (y) any securities having economic
terms similar to the Common Stock. In the event that at any time as a result of an adjustment made pursuant to the provisions
of this Section 3, the holder shall become entitled to receive any shares of DCDC Delaware other than Common Stock, thereafter
the number of such other shares so receivable upon conversion of this Note shall be subject to adjustment from time to time in
a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Common Stock contained in this
Section 3, and the other provisions of this Agreement with respect to the Common Stock shall apply on like terms to any
such other shares.

(d)
Reservation of Shares. The Company shall at all times reserve and keep available, free from preemptive rights, out of its
authorized but unissued stock, for the purpose of effecting the conversion or redemption of the Investor Notes, such number of
its duly authorized Common Stock as shall from time to time be sufficient for the conversion of all outstanding Investor Notes
into Common Stock at any time. The Company shall, from time to time and in accordance with the Delaware law, cause the authorized
number of Common Shares to be increased if the aggregate of the number of authorized Common Shares remaining unissued and the
issued Common Shares reserved for issuance in any other connection shall not be sufficient for the conversion of all outstanding
(and issuable as set forth above) Investor Notes into Common Stock at any time.

4.
Incidental Registration.

(a) Right
to Include Conversion Shares. If at any time from and after the date hereof the Company proposes to register any
of its Common Stock under the Securities Act of 1933, as amended (the “Securities Act”) (other than
any registration of public sales or distributions solely by and for the account of the Company of securities issued (x)
pursuant to any employee benefit or similar plan or any dividend reinvestment plan or (y) in any acquisition by the Company),
either in connection with a primary offering for cash for the account of the Company or a secondary offering for the amount
of any holders of the Company’s securities (in each case, an “Incidental Registration”), the Company
shall, each time it intends to effect such a registration, give written notice to all holders of Conversion Shares at least
ten (10) but no more than thirty (30) business days prior to the expected initial filing of a registration statement with the
SEC pertaining thereto (an “Incidental Registration Statement”), informing such holders of its intent to
file such Incidental Registration Statement, the expected filing date, and of the holders’ rights to request the
registration of certain Conversion Shares held by the holders under this Section 4(a) (the “Company
Notice”). Upon the written request of any holder made within seven (7) Business Days after any such Company Notice
is given (which request shall specify the Conversion Shares intended to be disposed of by such holder and the intended method
of distribution thereof), the Company will use all reasonable efforts to effect the registration under the Securities Act of
all Conversion Shares that the Company has been so requested to register by such holders to the extent required to permit the
disposition (in accordance with the intended methods of distribution thereof or, in the case of a registration which is
intended to effect a primary offering for cash for the account of the Company, in accordance with the Company’s
intended method of distribution) of the Conversion Shares so requested to be registered, including, if necessary, by filing
with the Securities and Exchange Commission (the “SEC”) a post-effective amendment or a supplement to the
Incidental Registration Statement or the related prospectus or any document incorporated therein by reference or by
filing any other required document or otherwise supplementing or amending the Incidental Registration Statement, if required
by the rules, regulations or instructions applicable to the registration form used by the Company for such Incidental
Registration Statement or by the Securities Act, any state securities or blue sky laws, or any rules and regulations
thereunder; provided, however, that if, at any time after giving written notice of its intention to register
any securities and prior to the effective date of the Incidental Registration Statement filed in connection with such
registration, the Company shall determine for any reason not to register or to delay registration of such securities, the
Company may, at its election, give written notice of such determination to each holder of Conversion Shares and, thereupon,
(A) in the case of a determination not to register, the Company shall be relieved of its obligation to register any
Conversion Shares in connection with such registration (but not from its obligation to pay the Registration Expenses (as
defined below) incurred in connection therewith), and (B) in the case of a determination to delay such registration, the
Company shall be permitted to delay registration of any Conversion Shares requested to be included in such
Incidental Registration Statement for the same period as the delay in registering such other securities.

(b) Priority
in Incidental Registrations. If a registration pursuant to this Section 4 involves an underwritten offering of the
securities so being registered, whether or not for sale for the account of the Company, and the sole underwriter or the
lead managing underwriter, as the case may be, of such underwritten offering shall advise the Company on or before the date
two days prior to the date then scheduled for such offering that, in its opinion, the amount of securities (including
Conversion Shares) requested to be included in such registration exceeds the amount that can be sold in (or during the time
of) such offering without adversely affecting the distribution of the securities being offered, then the Company shall be
required to include in such registration, unless the managing underwriter shall otherwise specify (which specification may
not adversely affect any holder relative to any other holder), first, all the securities entitled to be sold pursuant
to such Incidental Registration Statement without reference to the incidental registration rights of any holder of Conversion
Shares or any other shares of capital stock of the Company, and second a number of Conversion Shares to be allocated pro
rata on the basis of the number of Conversion Shares beneficially owned at that time by all the holders requesting to
participate in the underwritten offering and included in such request (based on the number of shares of fully diluted Common
Stock represented by or that may be acquired upon exercise of such Conversion Shares) or on such other basis as shall be
agreed among the holders; provided, however, that in the event the Company will not, by virtue of this
paragraph, include in any such registration all of the Conversion Shares of any holder requested to be included in such
registration, such holder may, upon written notice to the Company given within three (3) days of the time such holder first
is notified of such matter, reduce the amount of Conversion Shares it desires to have included in such registration,
whereupon only the Conversion Shares, if any, it desires to have included will be so included and the holders not so reducing
shall be entitled to a corresponding increase in the amount of Conversion Shares to be included in such registration.

(c)
Expenses. The Company agrees to pay all Registration Expenses in connection with each of the registrations requested pursuant
to Section 4. All Selling Expenses (as defined below) relating to securities registered on behalf of holders shall be borne
by the holders of securities included in such registration pro rata on the basis of the number of Conversion Shares so
registered.

(d)
Effective Registration Statement; Suspension. A Registration Statement pursuant to Section 4 shall not be deemed
to have become effective (and the related registration will not be deemed to have been effected) unless it has been declared effective
by the SEC, prior to a request by the holders of a majority of the Conversion Shares included in such registration that such Registration
Statement be withdrawn; provided, however, that if, after it has been declared effective, the offering of any Conversion
Shares pursuant to such Registration Statement is interfered with by any stop order, injunction or other order or requirement
of the SEC or any other governmental agency or court, such Registration Statement shall be deemed not to have become effective
and the related registration will not be deemed to have been effected.

(e) Selection
of Underwriters. The Company shall have the sole and exclusive right with respect to any Conversion Shares sold in an
underwritten offering to select the investment banker or investment bankers and manager or managers that will serve as
lead and co-managing underwriters with respect to the offering of such Conversion Shares. No holder may participate in any
underwritten offering hereunder unless such holder (a) agrees to sell such holder’s securities on the basis provided in
any underwriting arrangements approved by the Company and (b) completes and executes all questionnaires, powers of attorney,
custody agreements, indemnities, underwriting agreements and other documents required by such investment banker or investment
bankers, or otherwise, under the terms of such Underwritten Offering.

(f)
Certain Definitions.

(1)
Registration Expenses means (i) all registration, listing, qualification and filing fees (including any NYSE or NASD filing
fees), (ii) fees and disbursements of counsel for the Company, (iii) accounting fees incident to any such registration, (iv) blue
sky fees and expenses (including counsel fees in connection with the preparation of a Blue Sky Memorandum and legal investment
survey), (v) all reasonable expenses of any Persons incurred on behalf of the Holders or the Company in preparing or assisting
in preparing, printing, distributing, mailing and delivering any Registration Statement, any Prospectus, any underwriting agreements,
transmittal letters, securities sales agreements, securities certificates and other documents relating to the performance of and
compliance with this Agreement, (vi) the expenses incurred in connection with making road show presentations and holding meetings
with potential investors to facilitate the distribution and sale of Registrable Shares which are customarily borne by the issuer,
(vii) all internal expenses of the Company (including all salaries and expenses of officers and employees performing legal or
accounting duties) and (viii) the reasonable fees and expenses of the Holders incurred in connection with the sale of Registrable
Shares (excluding fees and expenses of counsel for the Holders); provided, however, that Registration Expenses shall
not include any Selling Expenses.

(2)
Selling Expenses means underwriting discounts, selling commissions and stock transfer taxes applicable to the securities
registered by the holders.

 

5. Representations
of Note Holder. Noteholder represents and warrants to DCDC as follows:

(a)
Authorization. All action on the part of the Noteholder and, if applicable, its officers, directors and shareholders necessary
for the authorization, execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
herein has been taken. The Noteholder has all requisite corporate power to enter into this Agreement and to carry out and perform
its obligations under the terms of this Agreement.

(b)
Acquisition for Investment. Upon conversion of the Note, the Noteholder will be acquiring the Conversion Shares for investment,
for its own account, and not for resale or with a view to distribution thereof in violation of the Securities Act.

(c)
Accredited Investor. The Noteholder certifies and represents to DCDC that at the time the Noteholder acquires any of the
Conversion Shares, the Noteholder will be an “Accredited Investor” as defined in Rule 501 of Regulation D promulgated
under the Securities Act and was not organized for the purpose of acquiring the Shares. The Noteholder's financial condition is
such that it is able to bear the risk of holding the Conversion Shares for an indefinite period of time and the risk of loss of
its entire investment. The Noteholder has been afforded the opportunity to ask questions of and receive answers from the management
of DCDC concerning this investment and has sufficient knowledge and experience in investing in companies similar to DCDC in terms
of DCDC's stage of development so as to be able to evaluate the risks and merits of its investment in DCDC.

(d)
No Registration. The Noteholder understands that the Conversion Shares have not been and will note be registered under
the Securities Act, by reason of their issuance by DCDC in a transaction exempt from the registration requirements of the Securities
Act, and that the Conversion Shares must continue to be held by the Noteholder unless a subsequent disposition thereof is registered
under the Securities Act or is exempt from such registration. The Noteholder understands that the exemptions from registration
afforded by Rule 144 (the provisions of which are known to it) promulgated under the Securities Act depend on the satisfaction
of various conditions, and that, if applicable. Rule 144 may afford the basis for sales only in limited amounts.

(e)
No Conflict. The execution and delivery of this Agreement by the Noteholder and the consummation of the transactions contemplated
hereby will not conflict with or result in any violation of or default by the Noteholder (with or without notice or lapse of time,
or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to a loss of a material
benefit under (i) any provision of the organizational documents of the Noteholder or (ii) any agreement or instrument, permit,
franchise, license, judgment, order, statute, law, ordinance, rule or regulations, applicable to the Noteholder or its properties
or assets.

(f)
No Assignment. Noteholder has not assigned or in any other way conveyed, transferred or encumbered all or any portion of
the claims or rights covered by this Agreement. Noteholder is executing this Agreement voluntarily, after consultation with counsel,
and with full knowledge of its significance.

6. Representations
of DCDC and DCDC Delaware. DCDC and DCDC Delaware each represents and warrants to Noteholder as follows:

(a)
Authorization. All action on its part and its officers, directors and shareholders necessary for the authorization, execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated herein has been taken. It has
all requisite corporate power to enter into this Agreement and to carry out and perform its obligations under the terms of this
Agreement.

(b)
No Conflict. The execution and delivery of this Agreement by it and the consummation of the transactions contemplated hereby
will not conflict with or result in any violation of or default by it (with or without notice or lapse of time, or both) under,
or give rise to a right of termination, cancellation or acceleration of any obligation or to a loss of a material benefit under
(i) any provision of its organizational documents or (ii) any agreement or instrument, permit, franchise, license, judgment, order,
statute, law, ordinance, rule or regulations, applicable to it or its properties or assets.

(c)
No Assignment. It has not assigned or in any other way conveyed, transferred or encumbered all or any portion of the claims
or rights covered by this Agreement.

7. Legend.
Each certificate representing any of the Conversion Shares shall be endorsed with the legend set forth below, and Noteholder
covenants that, except to the extent such restrictions are waived by DCDC, it shall not transfer the Conversion Shares represented
by any such certificate without complying with the restrictions on transfer described in this Agreement and the legend endorsed
on such certificate:

“THE SHARES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED,
TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM REGISTRATION UNDER SAID ACT AND, IF REQUESTED BY SHAREHOLDER, UPON DELIVERY OF AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO SHAREHOLDER THAT THE PROPOSED TRANSFER IS EXEMPT FROM SAID ACT.”

 

8.
Noteholder's General Release of Claims.

(a)
As a material inducement for DCDC and DCDC Delaware to enter into this Agreement, the Noteholder hereby irrevocably and unconditionally
releases, acquits and forever discharges DCDC and DCDC Delaware, and their respective shareholders, officers, directors, consultants,
agents, predecessors, successors, assigns, employees, representatives, affiliates, and all persons acting by, through, under or
in concert with any of them (such persons are collectively referred to herein as the “DCDC Parties”), whether
in their individual or professional capacities, from any and all charges, complaints, claims, liabilities, obligations, promises,
agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including
reasonable attorney’s fees and costs incurred) of any nature whatsoever, known or unknown, suspected or unsuspected, relating
to any matter up to and through the date hereof, including, without limitation, those directly or indirectly arising out of or
in any way connected with the sale of Common Stock through such date, and any rights of Noteholder under the Note or General Release
between the Parties hereto of even date herewith.

(b)
The Noteholder agrees not to bring any action, suit or proceeding whatsoever (including the initiation of governmental proceedings
or investigations of any type) against any of the DCDC Parties hereto for any matter or circumstance concerning which the Noteholder
has released the DCDC Parties under this Agreement. Furthermore, the Noteholder agrees not to encourage any other person or suggest
to any other person that he or it institute any legal action against the DCDC Parties.

9.
Miscellaneous.

(a)
Waiver. No waiver of any term, provision or condition of this Agreement, whether by conduct or otherwise, in any one or
more instances, shall be deemed to be, or be construed as, a further or continuing waiver of any such term, provision or condition
or as a waiver of any other term, provision or condition of this Agreement.

(b)
Expenses. Each party will bear its own costs and expenses in connection with this Agreement.

(c)
Assignment. The rights and obligations of the Parties hereto shall inure to the benefit of and shall be binding upon the
authorized successors and permitted assigns of each party. Neither party may assign its rights or obligations under this Agreement
or designate another person (i) to perform all or part of its obligations under this Agreement or (ii) to have all or part of
its rights and benefits under this Agreement, in each case without the prior written consent of the other party. In the event
of any assignment in accordance with the terms of this Agreement, the assignee shall specifically assume and be bound by the provisions
of the Agreement by executing and agreeing to an assumption agreement reasonably acceptable to the other party.

(d)
Survival. The respective representations and warranties given by the parties hereto, and the other covenants and agreements
contained herein, shall survive the Closing Date and the consummation of the transactions contemplated herein for a period of
one year, without regard to any investigation made by any party.

(e)
Counterparts. This Agreement may be executed in a number of counterparts, each of which together, shall for all purposes
constitute one Agreement, binding on all of the parties hereto, notwithstanding that all such parties have not signed the same
counterpart.

(f)
Governing Law. The laws of the State of New York will govern this Agreement, its interpretation and construction, and all
issues pertaining to it, without regard to any conflict of law rule or principle that would give effect to the laws of another
jurisdiction.

(g)
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the personal representatives and successors
of the respective parties.

(h)
Severability. If any provision of this Agreement is invalid, illegal or unenforceable under any applicable statute or rule
of law, it is to that extent to be deemed omitted. The remainder of the Agreement shall be valid and enforceable to the maximum
extent possible.

(i)
Entire Agreement. This Agreement between the Parties constitutes the entire agreement between the Parties hereto respecting
the subject matter hereof and supersedes all prior agreements, negotiations, understandings, representations and statements respecting
the subject matter hereof, whether written or oral. No modification, alteration, waiver or change in any of the terms of this
Agreement shall be valid or binding upon the parties hereto unless made in writing and duly executed by DCDC and the Noteholder.

 

    	 

    	 

    

IN WITNESS WHEREOF, the Parties,
intending to be legally bound, have executed and delivered this Agreement as of the date first above written.

DIGITAL CREATIVE DEVELOPMENT CORPORATION 

a Delaware corporation

 

By: /s/ Gary Herman 

Name: Gary Herman

Title: President

Date: 6/4/13

DIGITAL CREATIVE DEVELOPMENT CORPORATION 

a Utah corporation

By: /s/ Gary Herman  

Name: Gary Herman

Title: President

Date: 6/4/13

NOTEHOLDER 

By: /s/ Alexander Goren 

 

Name: Alexander Goren

 

Title (if applicable): Partner

 

Date: 6/4/13

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