Document:

DATED February 2014

 

KOKO (CAMDEN) LIMITED

 

ALEX RUTHERFORD, OLIVER BENGOUGH, HUGH
DOHERTY and LAURENCE SEYMOUR

 

OLIVER BENGOUGH

 

and

 

MINT GROUP HOLDINGS LIMITED

 

DEED OF REIMBURSEMENT1

 

in respect of certain fees incurred in relation
to the proposed sale of

 

OBAR CAMDEN HOLDINGS LIMITED

 

 

1
NTD – the allocations may need to be conformed to the figures for the first tranche

 

    	1

    	 

    

 

DATED     February
2014

 

PARTIES

 

(1)             KOKO
(CAMDEN) LIMITED, a company incorporated in England with registered number 08763877 whose registered office is at 55 Colmore
Row, Birmingham, B3 2AS (the “Purchaser”);

 

(2)              ALEX
RUTHERFORD of HUGH DOHERTY of and LAURENCE SEYMOUR of (the “Relevant
Sellers”);

 

(3)             OLIVER
BENGOUGH of and

 

(4)              MINT
GROUP HOLDINGS LIMITED, a company incorporated in England with registered number 04962275 whose registered office is at 191
Stonhouse Street, Clapham, London SW4 6BB (the “MGHL”)

 

RECITALS

 

(A)             The
Relevant Sellers are proposing to sell to the Purchaser all of the shares (the “Relevant Sellers Shares”)
in the Company which are registered in their respective names (the “Acquisitions”).

 

(B)              On
30th July 2013 the Relevant Sellers and Oliver Bengough entered into an exclusivity agreement (the “Exclusivity
Agreement”) with Albion Ventures Limited in connection with Albion Ventures Limited conducting due diligence in relation
to the Company and negotiating the proposed sale of the Relevant Sellers Shares together with shares in the Company held by the
Guarantor to Albion Ventures Limited.

 

(C)             MGHL
has assumed the obligations of Mint Group Limited in relation to a letter of engagement with Stella Capital Advisors LLP in connection
with the provision of corporate advisory services in connection with the development of strategy for the group including the demerger
of OBAR Camden Limited from the Mint Group of companies and the sale process of OBAR Camden Limited and/or its assets following
demerger and has incurred fees in connection with this process.

 

(D)             During
the subsistence of the Exclusivity Period as determined under the Exclusivity Agreement, Oliver Bengough entered into negotiations
with the Purchaser which negotiations may have been in breach of the obligations of the Relevant Sellers and Oliver Bengough under
the Exclusivity Agreement.

 

(E)             Albion
Ventures LLP has agreed to release the Relevant Sellers and Oliver Bengough (together with the Company and its subsidiaries) of
all liabilities in relation to the Exclusivity Agreement in consideration of the payment to Albion Ventures LLP of the sum of £30,000
(the “Release Sum”).

 

(F)              In
consideration of the Relevant Sellers agreeing to enter into negotiations with the Purchaser for the Acquisitions, the Purchaser
agreed to reimburse the Relevant Sellers, Oliver Bengough and MGHL an amount equal to the Release Sum and to make a contribution
towards certain costs incurred by the Relevant Sellers and Oliver Bengough in connection with the proposed sale of the Relevant
Sellers Shares in accordance with the terms and conditions set out in this Deed.

 

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OPERATIVE PROVISIONS

 

		1	Interpretation

 

1.1              In
this Agreement:

 

“Albion Ventures”
means Albion Ventures LLP, a limited liability partnership incorporated in England under company number OC341254 whose registered
office is at 1 Kings Arms Yard, London EC2R 7AF.

 

“Alex
Rutherford SPA” means a share purchase agreement of today’s date between Alex Rutherford (1) the Purchaser (2)
and TRINAD Capital Master Fund Ltd, Oliver Bengough and OBAR Camden Limited (the Guarantors) (3) in relation to the sale by Alex
Rutherford to the Purchaser of all the shares in OBAR Camden Holdings Limited registered in his name.

 

"Business Day"
means a day (other than a Saturday or Sunday) on which the clearing banks in the City of London are open for business.

 

“Company”
means OBAR Camden Holdings Limited, a company incorporated in England with registered number 08257455 and whose registered office
is at 121 Stonhouse Street, Clapham, London SW4 6BB.

 

“Exclusivity
Liabilities” means liabilities arising under an exclusivity agreement dated 30th July 2013 (as amended) as entered into
between the Relevant Sellers, Oliver Bengough and Albion Ventures.

 

“Minority
Interest SPA” means a share purchase agreement of today’s date between Hugh Doherty and Laurence Seymour (1) the
Purchaser (2) TRINAD Capital Master Fund Ltd, Oliver Bengough and OBAR Camden Limited (as Guarantors) (3) in relation to the sale
by Hugh Doherty and Laurence Seymour of all the shares in OBAR Camden Holdings Limited registered in their respective names.

 

“Relevant Costs”
means the costs (including VAT and disbursements) incurred by the Relevant Sellers, Oliver Bengough and by MGHL with the Service
Providers in connection with the proposed sale by the Relevant Sellers of their respective interests in the Company up to the amounts
set opposite the names of the respective Service Providers in column 3 of Schedule 1.

 

“Relevant Invoices”
means the invoices issued by the Service Providers to the Relevant Sellers, Oliver Bengough and MGHL in relation to professional
advice provided to the Relevant Sellers, Oliver Bengough and MGHL in relation to the proposed sale of the Relevant Sellers’
Shares.

 

“Service Providers”
means those professional advisers to the Relevant Sellers and to MGHL whose details are set out in columns (1) and (2) of Schedule
1 to this Deed.

 

“Sellers’ Solicitors
Client Account” means the Seller’s Solicitors Client Account as that term is defined in the Alex Rutherford SPA.

 

1.2              In
this Agreement, unless otherwise stated, reference to:

 

(a)           words
and phrases defined in the Alex Rutherford SPA shall have the same meaning as if the same were set out herein;

 

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(b)          a
statute or statutory provision includes a reference to:

 

(i)          any
statutory amendment, consolidation or re-enactment of it to the extent in force from time to time;

 

(ii)         all
orders, regulations, instruments or other subordinate legislation (as defined in section 21(1) of the Interpretation Act 1978)
made under it to the extent in force from time to time; and

 

(iii)        any
statute or statutory provision of which it is an amendment, consolidation or re-enactment;

 

except to the extent that, as
between the parties, any amendment, consolidation or re-enactment coming into force after the date of this Deed would impose any
new or extended obligation, liability or restriction on, or otherwise adversely affect the rights of, any party under this Agreement;

 

(c)          a
"person" includes a legal or natural person, partnership, association, trust, company, corporation, joint venture,
government, state or agency of the state or other body; and

 

(d)          a
governmental, local governmental, regulatory or administrative authority or agency includes its successors.

 

1.3              In
this Agreement the interpretation of general words shall not be restricted by words indicating a particular class or particular
examples.

 

1.4              The
headings in this Agreement are for ease of reference only and are to be ignored when interpreting this Agreement.

 

		2	REIMBURSEMENT

 

2.1              The
Purchaser shall, pay to the Relevant Sellers, Oliver Bengough and MGHL (such payment to be made by electronic transmission of funds)
immediately following completion of the Alex Rutherford SPA:

 

2.1.1           to
the Sellers’ Solicitors Client Account the aggregate sum of £196,000 (including all VAT payable in respect of the costs
incurred), being the aggregate of all of the sums referred to in the Schedule and which are payable by the Relevant Sellers, MGHL
and Oliver Bengough in connection with the professional services provided to them by the Service Providers; and

 

2.1.2           to
the account of Albion Ventures at Lloyds Bank PLC Sort Code 30-00-02, Account number 00932111 the Release Sum to be paid in connection
with the release by Albion Ventures of the Exclusivity Liabilities.

 

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2.2             Following
payment by the Purchaser of the sums to be paid in accordance with clause 2.1, the Purchaser shall be under no obligation to oversee
the application of the relevant sums by the Relevant Sellers, Oliver Bengough or MGHL or, as the case may be, the payment of the
sums from the Sellers’ Solicitors Client Account and the Relevant Sellers shall bear the whole of, and shall thereafter indemnify
the Purchaser in respect of any claim for non-payment or other claims against the Purchaser and/or the Company or any of its subsidiaries
in respect of those liabilities.

 

		3	Death of a RELEVANT SELLER

 

This Agreement shall enure
for the benefit of the successors in title to and any executors or personal representatives of any Relevant Seller and/or Oliver
Bengough who dies prior to payment of the sums due under this Deed and such person shall be entitled to enforce the same as if
he were a party to this Deed.

 

		4	Provision of information to the Purchaser

 

The Purchaser shall be entitled
to receive upon request from the Relevant Sellers, Oliver Bengough and MGHL:

 

(a)          a
copy of the Relevant Invoices and any other invoice relating to the sums to be paid by the Relevant Sellers as referred to in Clause
2; and

 

(b)          such
evidence of payment by the Relevant Sellers, Oliver Bengough or MGHL of the sums due to be paid in respect of such invoices as
the Purchaser may reasonably require.

 

		5	Entire agreement

 

This Agreement is the entire
agreement between the parties (and replaces all previous agreements and understandings between them) in connection with the discharge
of the sums referred to in clause 2.

 

		6	Third party rights

 

The parties do not intend any
third party to have the right to enforce any provision of this Agreement under the Contracts (Rights of Third Parties) Act 1999.

 

		7	Waiver

 

A failure or delay in exercising
any right or remedy under this Agreement shall not constitute a waiver of that right or remedy. A single or partial exercise of
any right or remedy shall not prevent the further exercise of that right or remedy. A waiver of a breach of this Agreement shall
not constitute a waiver of any other breach.

 

		8	Variations

 

No variation of this Agreement
shall be effective unless it is in writing and signed by or on behalf of each party.

 

		9	Communications

 

Communications under this Agreement
shall be in writing and delivered by hand or sent by recorded delivery to the relevant party at its address as set out in this
Agreement. Without evidence of earlier receipt, communications are deemed received: if delivered by hand, at the time of delivery;
if sent by recorded delivery, at 9.00am on the second Business Day after posting

 

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		10	Counterparts

 

This Agreement may be executed
in any number of counterparts, which shall each constitute an original and together constitute one agreement. If this Agreement
is executed in counterpart, it shall not be effective unless each party has executed at least one counterpart.

 

		11	Governing law and jurisdiction

 

11.1            This
Agreement and any non-contractual obligations arising in connection with it (and, unless provided otherwise, any document entered
into in connection with it) shall be governed by and construed in accordance with English law.

 

11.2            The
English courts have exclusive jurisdiction to determine any dispute arising in connection with this Agreement (and, unless provided
otherwise, any document entered into in connection with it), including disputes relating to any non-contractual obligations.

 

11.3            Each
party irrevocably waives any objection which it may now or later have to proceedings being brought in the English courts (on the
grounds that the English courts are not a convenient forum or otherwise).

 

11.4            Nothing
in this Agreement (or, unless provided otherwise, any document entered into in connection with it) shall prevent a party from applying
to the courts of any other country for injunctive or other interim relief.

 

Executed as a Deed by the parties on the
date of this Agreement.

 

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EXECUTION PAGE

 

	Executed as a deed by KOKO
    (CAMDEN)
  LIMITED acting by its duly
    authorised

 Director in the presence of:	 	 
	 	 	Director
	 	 	 
	
        Name of witness:

         

        Signature of witness:

         

        Address:

         

        Occupation:

         
	 	 
	Signed as a Deed by ALEX RUTHERFORD

 in the presence of:	
        )

        )
	 
	 	 	 
	
        Name of witness:

         

        Signature of witness:

         

        Address:

         

        Occupation:
	 	 

 

	Signed as a Deed by HUGH DOHERTY in

 the presence of:	
        )

        )
	 
	 	 	 
	
        Name of witness:

         

        Signature of witness:

         

        Address:

         

        Occupation:
	 	 

 

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	Signed as a Deed by LAURENCE 

SEYMOUR in the presence of: 	
        )

        )
	 
	 	 	 
	
        Name of witness:

         

        Signature of witness:

         

        Address:

         

        Occupation:
	 	 

 

	Signed as a Deed by OLIVER 

BENGOUGH in the presence of:	
        )

        )
	 
	 	 	 
	
        Name of witness:

         

        Signature of witness:

         

        Address:

         

        Occupation:
	 	 
	 	 	 
	Executed as a deed by MINT GROUP 

HOLDINGS LIMITED acting by its duly

 authorised Director in the presence of:	 	 
	 	 	Director
	 	 	 
	
        Name of witness:

         

        Signature of witness:

         

        Address:

         

        Occupation:
	 	 

 

    	8DATED FEBRUARY 2014

 

ALEX RUTHERFORD, HUGH DOHERTY and LAURENCE
SEYMOUR

as Creditors

 

KOKO (CAMDEN) LIMITED

as Debtor

 

TR1NAD CAPITAL MASTER FUND, LTD.

as Subordinated Creditor and Guarantor of
the Debtor

 

and

 

JJAT CORP.

as Subordinated Creditor and Guarantor of
the Debtor

 

DEED OF SUBORDINATION

 

    	 

    	 

    

 

Contents

 

	Clause 	Name	Page
	 	 	 
	1	Definitions and interpretation	4
	2	Subordination	6
	3	Undertakings	6
	4	Turnover	8
	5	Subordination on insolvency	9
	6	Application of monies realised.	10
	7	Preservation of Rights	10
	8	Power of Attorney	11
	9	Representations and warranties	11
	10	Assignment and transfer	13
	11	Acknowledgements	13
	12	Notices	13
	13	Discharge	14
	14	General Provisions	14
	15	Counterparts	15
	16	Governing Law	15

 

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	DATED	2014

 

PARTIES

 

(1)         ALEX
RUTHERFORD of  HUGH DOHERTY and LAURENCE SEYMOUR of (together the “Priority
Creditors”);

 

(2)         KOKO
(CAMDEN) LIMITED a company incorporated in England under company number 08763877 and whose registered office is at 55 Colmore
Row, Birmingham, West Midlands, United Kingdom, B3 2AS (the “Debtor”);

 

(3)         TRINAD
CAPITAL MASTER FUND, LTD. a limited liability corporation incorporated under the laws of the State of Delaware in the United
States of America, and whose principal executive offices are situated at 4751 Wilshire Blvd., 3rd Floor, Los Angeles, CA 90010
USA for itself and as Manager of the TRINAD Capital Fund; and

 

(4)         JJAT
CORP, a limited liability corporation incorporated under the laws of the State of Delaware in the United States of America,
and whose principal executive offices are situated at 3500 South Dupont Highway, Dover, Delaware 19901 in the county of Kent,

 

(TRINAD CAPITAL MASTER FUND, LTD. and JJAT
CORP. are each a “Subordinated Creditor” and are, together, the “Subordinated Creditors”)

 

BACKGROUND

 

(A)         The
Debtor has entered into certain obligations to the Priority Creditors pursuant to the Alex Rutherford SPA, the Minority Interest
SPA and the Deed of Reimbursement pursuant to which certain sums are, or will become, due and owing to Alex Rutherford, Hugh Doherty
and Laurence Seymour respectively.

 

(B)         The
Subordinated Creditor has made or is anticipating in the future making loans, giving credit, or providing other financial facilities
to the Debtor

 

(C)         TRINAD
Capital Master Fund has agreed to guarantee, on behalf of the Debtor, the obligations of the Debtor owed to Alex Rutherford pursuant
to the Alex Rutherford SPA and to guarantee, on behalf of the Debtor, the performance of certain obligations of the Debtor owed
to Hugh Doherty and Laurence Seymour under the Minority Interest SPA.

 

(D)         JJAT
is the current holding company of the Debtor and, in addition to entering this agreement as an existing or potential creditor of
the Debtor, enters into this agreement in its capacity as the sole shareholder of the Debtor and to give the undertakings set out
in clause 3.2.

 

(E)         Each
of the TRINAD Capital Master Fund Ltd (for itself and for each of its subsidiaries from time to time) and JJAT have agreed with
the other parties to subordinate those facilities or indebtedness and any rights and entitlements arising in relation thereto or
in relation to the guarantee given to Alex Rutherford (including any rights of subrogation arising in connection with such guarantee)
and to Hugh Doherty and Laurence Seymour or any other sums owed or which otherwise might become payable by the Debtor, OBAR Camden
Holdings Limited or OBAR Camden Limited from time to time to it or its subsidiaries as provided below.

 

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OPERATIVE PROVISIONS

 

1.           DEFINITIONS
AND INTERPRETATION

 

1.1           Definitions

 

In this Deed:

 

“Alex Rutherford SPA”
means a share purchase agreement of today’s date between Alex Rutherford (1) the Debtor (2) and the Subordinated Creditor
(as guarantor) (3) in relation to the sale by Alex Rutherford to the Debtor of certain shares in OBAR Camden Holdings Limited.

 

“Business Day” means
a day other than a Saturday, Sunday or a public holiday in England when banks in London are open for business.

 

“Deed of Reimbursement”
means a deed of today’s date between Hugh Doherty, Laurence Seymour, Alex Rutherford (1) the Debtor (2) pursuant to which
the Debtor agrees to reimburse certain payments made to third parties by or on behalf of Hugh Doherty, Laurence Seymour and Alex
Rutherford;

 

“Minority Interest SPA”
means a share purchase agreement of today’s date between Hugh Doherty and Laurence Seymour (1) the Debtor (2) and Oliver
Bengough (3) in relation to the sale by Hugh Doherty and Laurence Seymour of certain shares in OBAR Camden Holdings Limited;

 

“Obar Camden Limited”
means Obar Camen Ltd, a company incorporated in England and Wales with Registered Number 04962866 having its registered office
at 191 Stonhouse Street, Clapham, London SW4 6BB;

 

“Obar Camden Holdings Limited”
means Obar Camden Holdings Limited, a company incorporated in England and Wales with Registered Number 08257455 having its registered
office at 191 Stonhouse Street, Clapham, London SW4 6BB;

 

“OBAR Companies” means
OBAR Camden Holdings Limited and OBAR Camden Limited

 

“Party” means a party
to this Deed.

 

“Relevant Transaction Documents”
means the Alex Rutherford SPA, the Minority Interest SPA and the Deed of Reimbursement and any one of them shall be a “Relevant
Transaction Document”.

 

“Security Interest” means
any mortgage, pledge, lien, charge, security assignment, hypothecation, security trust, encumbrance or security interest and any
other agreement or arrangement entered into to create or confer security over any asset.

 

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“Senior Priority Amount”
means the principal sum of £1,573,250 together with:

 

(a)          all
interest and fees payable in respect of that amount to the Priority Creditors under the Relevant Transaction Documents; and

 

(b)          all
costs, fees and expenses (including any applicable VAT) from time to time incurred by the Priority Creditors and any person appointed
by them in enforcing any obligations of the Debtor or the Subordinated Creditor under the Relevant Transaction Documents.

 

“Subordinated Debt” means
the aggregate of a!! monies and liabilities of whatever nature (whether actual or contingent, as principal or surety) which are
now or may at any future time outstanding or otherwise due from the Debtor or, following completion of any of the Relevant Transaction
Documents, owed by either or both of the OBAR Companies to the Subordinated Creditor or to any subsidiary or other Connected Person
in relation to the Subordinated Creditor on any account or in any manner whilst the Senior Priority Amount remains outstanding.

 

“Subordination Period”
means the period beginning on the date of this Deed and ending on the date upon which the whole of the sums owed to the Priority
Creditors up to the Senior Priority Amount has been unconditionally and irrevocably paid and discharged in full.

 

1.2          Construction

 

1.2.1       Headings
and punctuation in this Deed are for convenience only and do not affect its construction or interpretation.

 

1.2.2       Unless
the contrary intention appears, references in this Deed to:

 

(a)          any
party to this Deed shall be construed so as to include its successors in title, permitted assigns and permitted transferees;

 

(b)          “including”
or “in particular” shall not limit words and expressions in connection with which they are used;

 

(c)          “in
connection with”, “under”, “pursuant to”, “by virtue of” or
“in relation to” shall include each of the others;

 

(d)          a
“person” includes (where the context allows) any person, company, corporation, government, state or agency of
a state or any association, trust or partnership (where or not having separate legal personality);

 

(e)          “insolvency”
includes any of the following or any steps in relation to the following:

 

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(i)          any
insolvency, bankruptcy, liquidation, reorganisation, administration, receivership or dissolution;

 

(ii)         any
voluntary arrangements or assignment for the benefit of creditors; or

 

(iii)        any
similar or analogous events in any jurisdiction whatsoever;

 

(f)          an
obligation of a Subordinated Creditor to do something includes an obligation to procure that it is done and an obligation not to
do something includes an obligation not to permit, suffer or allow it;

 

(g)          a
provision of law is a reference to that provision as amended or re-enacted and includes subordinate legislation; and

 

(h)          references
to this Deed or any other agreement, deed or document are references to them In force for the time being as amended, varied, supplemented
or consolidated from time to time.

 

2.           SUBORDINATION

 

The Subordinated Debt Is subordinated up
to the Senior Priority Amount.

 

3.           UNDERTAKINGS

 

3.1           Undertakings
of the Debtor and the Subordinated Creditor

 

The Debtor covenants with the Priority Creditors
that it will not (and shall procure that none of its subsidiaries from time to time or either of the OBAR Companies shall) during
the Subordination Period:

 

(a)          pay,
prepay or repay, redeem, purchase or make any distribution any of the Subordinated Debt in cash or In kind and whether on account
of principal, interest or damages for breach of the terms of the Subordinated Debt;

 

(b)          discharge,
release or reduce any of the Subordinated Debt by set-off, netting, any right of combination of accounts or in any other manner;

 

(c)          assign
or transfer Its rights or obligations In respect of the Subordinated Debt;

 

(d)          create
or permit to subsist any Security Interest over any of its assets for any of the Subordinated Debt;

 

(e)          amend,
vary, waive or release any term of the Subordinated Debt in any manner that would materially prejudice the subordination under
this Deed;

 

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(f)          enter
into any arrangement under which such Subordinated Creditor is not to enforce the Debtor’s obligations in relation to the
Subordinated Debt;

 

(g)          enter
into any arrangement under which the Debtor or any of its subsidiaries or any of the OBAR Companies shall not enforce an obligation
owed to it by the Subordinated Creditor or any of its subsidiaries or OBAR Companies from time to time;

 

(h)          enter
into an arrangement for the benefit of a Subordinated Creditor where the value provided by the Debtor, its subsidiaries or by the
OBAR Companies exceeds the value received by the Debtor, any of Its subsidiaries or by the OBAR Companies;

 

(i)          provide
credit to a Subordinated Creditor or any of Its subsidiaries, or provide a guarantee, or Security Interest in respect of any liability
of a Subordinated Creditor or any of its subsidiaries;

 

(j)          make
(i) any distribution of its assets or profits (whether by way of final or interim dividend or otherwise and whether in cash, shares
or otherwise); or (ii) pay any sum by way of management charge or simiiar payment to a Subordinated Creditor or any of its or any
person who is a connected person (as that term is defined in the Aiex Rutherford SPA) or shareholder, manager or investor in the
Subordinated Creditor or any of its connected persons;

 

(k)          take
or omit to take any action whereby the subordination of the Subordinated Debt under this Deed might be terminated, impaired or
adversely affected.

 

3.2           Undertakings
of the Subordinated Creditor

 

Each Subordinated Creditor (for itself and
for each of its subsidiaries from time to time) covenants with the Debtor and separately with the Priority Creditors that at ali
times during the Subordination Period:

 

3.2.1       it
will not:

 

(a)          demand,
sue, claim, prove for, accept or receive payment, prepayment or repayment of, or any distribution in respect or on account of,
any of the Subordinated Debt In cash or in kind and whether on account of principal, interest or, damages for breach of the terms
of the Subordinated Debt;

 

(b)          discharge,
release or reduce any of the Subordinated Debt by set-off, netting, any right of combination of accounts or in any other manner;

 

(c)          assign,
transfer, charge or otherwise dispose of its rights or obligations in respect of the Subordinated Debt;

 

(d)          accept
or permit to subsist any Security Interest over any of the assets of the Debtor or any other party for any of the Subordinated
Debt;

 

(e)          amend,
vary, waive or release any term of any of the Subordinated Debt in any manner that would materially prejudice the subordination
under this Deed;

 

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(f)          enter
into any arrangement under which such Subordinated Creditor is not to enforce the Debtor’s obligations in relation to the
Subordinated Debt;

 

(g)          enter
into any arrangement under which the Debtor or any of its subsidiaries shall not enforce an obligation owed to it by the Subordinated
Creditor or any of its subsidiaries from time to time;

 

(h)          enter
into an arrangement for its benefit where the value provided by the Debtor or its subsidiaries or OBAR Camden Holdings Limited
or OBAR Camden Limited exceeds the value received by the Debtor or its subsidiaries or OBAR Camden Holdings Limited or OBAR Camden
Limited;

 

(i)          receive
credit from the Debtor, or permit the Debtor to grant any guarantee or Security Interest in respect of any of the Subordinated
Creditor’s liabilities or those of the Subordinated Creditor’s subsidiaries;

 

(j)          receive
any kind of distribution of the Debtor’s assets, whether in cash, shares or otherwise;

 

(k)          take
or omit to take any action whereby the subordination of the Subordinated Debt under this Deed might be terminated, impaired or
adversely affected; nor

 

(l)          
make any application or take any step (including presentation of a petition, convening a meeting or passing a resolution) or otherwise
give support for the Insolvency or re-organisation of the Debtor or any of its subsidiaries or any of the OBAR Companies.

 

3.2.2       it
will at all times remain entitled to the Subordinated Debt legally and beneficially, free from any Security Interest, option, subordination
or other rights (n favour of any person, and will procure that the Subordinated Debt is not subject to any set¬off, counterclaim
or other defence.

 

3.3           Exceptions

 

Notwithstanding the above the Debtor and
the Subordinated Creditor may do anything approved by the Priority Creditors in writing, such approval not to be unreasonably withheld
or delayed.

 

4.          TURNOVER

 

4.1           Turnover
trust

 

If:

 

(a)          a
Subordinated Creditor or any of its subsidiaries receives any benefit, payment, distribution or security in cash or in kind in
respect of, or on account of, the Subordinated Debt or otherwise in breach of the undertakings in clause 3 above;

 

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(b)          a
Subordinated Creditor or any of its subsidiaries receives the proceeds of enforcement of any Security Interest or guarantee in
relation to the Subordinated Debt; or

 

(c)          any
of the Subordinated Debt or any other payment which would otherwise be the subject of the covenants and undertakings set out in
clause 3 is discharged by set-off, netting, counterclaim, or by exercise of any right of combination of accounts, or in any other
manner,

 

that Subordinated Creditor will hold the relevant amount on
trust for the Priority Creditors and will immediately pay to the Priority Creditors the amount so received by the Subordinated
Creditor or its subsidiary (or discharged as contemplated by Clause 4.1(c)) for application against, or retention on account of
the Senior Priority Amount.

 

4.2           Exercise
of Subordinated Creditor rights

 

If a Subordinated Creditor or any of its
subsidiaries fails to observe and perform its obligations in this Clause 4 (Turnover), the Priority Creditors are irrevocably
authorised to effect the same on behalf of the Subordinated Creditor or the relevant subsidiary.

 

4.3           Failure
of trust

 

If any of the trusts referred to in this
Deed fails or cannot be given effect to, the relevant Subordinated Creditor will, upon demand and without deduction, pay to the
Priority Creditors (for application against or retention on account of the Senior Priority Amount) an amount equal to the relevant
amount.

 

4.4           Additional
Subordinated Debt

 

Any such distribution paid by a Subordinated
Creditor to the Priority Creditors under this Deed shall (so far as permitted by law) be treated as additional monies due from
the Debtor to that Subordinated Creditor.

 

4.5           Perpetuity
period

 

The perpetuity period applicable to the
trusts under this Deed shall be 125 years from the date of this Deed.

 

5.           SUBORDINATION
ON INSOLVENCY

 

5.1           Subordination

 

If, at any time during the Subordination
Period, any event of insolvency occurs in relation to the Debtor, any of its subsidiaries or either of the OBAR Companies:

 

(a)          the
Subordinated Debt will be subordinate in right of payment to the Senior Priority Amount; and

 

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(b)          the
Subordinated Creditor shall not and shall procure that none of its subsidiaries shall, claim, rank, prove or vote as a creditor
of the Debtor unless otherwise directed by the Priority Creditors until such time that the Senior Priority Amount has been repaid
in full.

 

5.2           Direction

 

The person distributing the assets and proceeds
of the Debtor is, by this Deed, directed to pay such distributions in relation to the Subordinated Debt directly to the Priority
Creditors until the Senior Priority Amount has been irrevocably paid and discharged in full.

 

5.3           Further
assurance

 

Each Subordinated Creditor shall and shall
procure that its subsidiaries shall (at its cost) give all such notices and do all such things as the Priority Creditors may direct
to give effect to this Clause 5 (Subordination on Insolvency).

 

6.          APPLICATION
OF MONIES REALISED

 

6.1           Application
of receipts

 

All monies received by the Priority Creditors
in connection with this Deed shall be treated as having been received under the Relevant Transaction Documents and shall be applied
in accordance with the provisions of the Refevant Transaction Document in relation to which the payment was received. If a payment
comprises sums which include payments under more than one Relevant Transaction Document then, unless the relevant payments have
been made expressly in relation to an obligation under the Relevant Transaction Document, the payment received will be divided
between the Priority Creditors pro rata to the amount outstanding and owed to the Priority Creditors pursuant to their respective
entitlements under the Relevant Transaction Documents.

 

6.2           No
appropriation by a Subordinated Creditor

 

Neither the Debtor nor the Subordinated
Creditor may during the Subordination Period direct the application by the Priority Creditors of any sums received in connection
with this Deed.

 

7.          PRESERVATION
OF RIGHTS

 

7.1           Continuing
deed

 

The rights of the Priority Creditors contained
in this Deed shall be in addition to and independent of all other rights which each of them may at any time hold.

 

7.2           Waiver
of defences

 

The subordination constituted by this Deed
and the covenants and other provisions contained in this Deed shall not be affected in any way by all or any of the following:

 

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(a)          any
fluctuation in the amounts of the Subordinated Debt;

 

(b)          any
legal limitation, disability, incapacity or other circumstance relating to any person;

 

(c)          any
step taken with regard to the insolvency or reorganisation of any person or any change in their status, function, control or ownership;

 

(d)          the
Relevant Transaction Documents being illegal, invalid, unenforceable or ineffective;

 

(e)          time
or other indulgence, release, compact or compromise being granted to any person;

 

(f)          any
amendment, variation, novation, replacement, waiver or release of the Relevant Transaction Documents however fundamental;

 

(g)          any
failure to take any security in respect of the Senior Priority Amount or any part of it; or

 

(h)          any
other act, event or omission which, but for this Clause 7.2 (Waiver of defences), might discharge, impair or otherwise affect
the subordination created by this Deed or any of the obligations of any Subordinated Creditor under this Deed or any of the rights
of any of the Priority Creditors.

 

7.3           No
right of notification

 

Each Subordinated Creditor acknowledges
that it has no right to receive notice from the Priority Creditors of any of the matters referred to in this Clause 7 (Preservation
of Rights) and that its lack of consent to them shall not impair the subordination and other provisions created by this Deed.

 

8.           POWER
OF ATTORNEY

 

If within 5 Business Days of a written request
from the Priority Creditors (acting together) to a Subordinated Creditor to perform any action required to be taken pursuant to
the terms of this Deed, that Subordinated Creditor fails to perform such action, then that Subordinated Creditor by way of security
irrevocably appoints the Priority Creditors as its respective attorney in its name and on its behalf to execute any documents and
do or perfect anything which the Priority Creditors shall consider appropriate for the purpose of enforcing that Subordinated Creditor’s
obligations in connection with this Deed.

 

9.           REPRESENTATIONS
AND WARRANTIES

 

Each Subordinated Creditor makes the representations
and warranties set out in this Clause 9 (Representations and warranties) to the Priority Creditors on the date of this Deed.

 

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9.1           Status

 

It:

 

(a)          is
a corporation, duly incorporated and validly existing under the law of the jurisdiction of its incorporation; and

 

(b)          has
the power to own its assets and carry on the business which it conducts and/or proposes to conduct.

 

9.2           Binding
obligations

 

The obligations expressed to be assumed
by it in this Deed are legal, valid, binding and enforceable obligations.

 

9.3           Non-conflict

 

The entry into and performance by it of,
and the transactions contemplated by, this Deed do not and will not conflict with:

 

(a)          any
law or regulatory requirement applicable to it;

 

(b)          its
constitutional documents; or

 

(c)          any
agreement or instrument binding upon it or any of its assets.

 

9.4           Power
and authority

 

It has the power to enter into, perform
and deliver, and has taken all necessary action to authorise Its entry Into, performance and delivery of, this Deed and the transactions
contemplated by this Deed,

 

9.5           Validity
and admissibility in evidence

 

Each authorisation, consent, approval, resolution,
licence, exemption, filing, notarisation or registration required or desirable:

 

(a)          to
enable it lawfully to enter into, exercise its rights and comply with Its obligations under this Deed; and

 

(b)          to
make this Deed admissible in evidence in its jurisdiction of incorporation and In England and Wales,

 

(c)          has
been obtained or effected and is in full force and effect.

 

9.6           Solvency

 

No step has been taken for the Insolvency
of the Subordinated Creditor.

 

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10.         ASSIGNMENT
AND TRANSFER

 

10.1         Assignment
by the Debtor and the Subordinated Creditor

 

Neither the Debtor nor any Subordinated
Creditor may, during the Subordination Period, assign, transfer or otherwise part with its rights or obligations under this Deed
without the prior written consent (such consent not to be unreasonably withheld or delayed) of the Priority Creditors which, if
given, shall be subject to the assignee/transferee entering into a deed of subordination in the same form as this Deed, with the
necessary changes.

 

10.2         Assignment
by the Priority Creditors

 

The Priority Creditors may only transfer,
assign or novate all or any part of their respective rights, benefits or obligations in relation to the Senior Priority Amount
and/or under this Deed where their rights, benefits or obligations are permitted to be assigned pursuant to and under the Relevant
Transaction Documents.

 

11.         ACKNOWLEDGEMENTS

 

11.1         No
limitation of liability

 

The Debtor acknowledges the terms of this
Deed and that nothing in this Deed shall affect its liability to the Priority Creditors in relation to the Senior Priority Amount.

 

11.2         Distribution
of information

 

The Debtor acknowledges and confirms that
the Priority Creditors and each Subordinated Creditor has an unrestricted right to give each other information concerning any accounts
and facilities of the Debtor

 

11.3         Copies
of Subordinated Debt

 

The Debtor and each Subordinated Creditor
agrees to supply to the Priority Creditor on demand true copies of all documents relating to the Subordinated Debt.

 

12.         NOTICES

 

12.1         Communications
in writing

 

Any communication to be made under or in
connection with this Deed shall be made in writing and, unless otherwise stated, may be made by fax or letter.

 

12.2         Addresses

 

The address and fax number (and the department
or officer, if any, for whose attention the communication is to be made) of each Party for any communication or document to be
made or delivered under or in connection with this Deed is that identified with its name below or the registered office or place
of business last known to the Priority Creditors or any substitute address, fax number or department or officer as the Party may
notify the Priority Creditors (or the Priority Creditors may notify the Debtors and the Subordinated Creditor if the change is
made by the Priority Creditors) by not less than five Business Days’ notice,

 

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12.3        Delivery

 

12.3.1     Any
communication or document made or delivered by one person to another person in connection with this Deed will only be effective:

 

(a)          if
by way of fax, when received in legible form; or

 

(b)          if
by way of letter, when it has been ieft at the relevant address or two Business Days after being deposited in the post postage
prepaid in an envelope addressed to it at that address,

 

and, if a particular department or officer is specified as part
of its address details provided under Clause 12.2 (Addresses), if addressed to that department or officer.

 

12.4         Notices
to Priority Creditors

 

Any notice or communication to be made or
delivered to the Priority Creditors shall be effective when actually received by the Priority Creditors and then only if it is
expressly marked for the attention of the department or officer identified with the Priority Creditors’s signature below
(or any substitute department or officer as the Priority Creditors shall specify for this purpose).

 

13.         DISCHARGE

 

13.1         At
the end of the Subordination Period, the Priority Creditors will within 5 Business Days at the cost of the Subordinated Creditor
discharge this Deed.

 

13.2         No
discharge will be of any effect if any security or payment given or made in respect of the Senior Priority Amount is rescinded,
avoided, reduced or invalidated whether in respect of any insolvency or otherwise.

 

14.         GENERAL
PROVISIONS

 

14.1         Benefit

 

The provisions of this Deed are for the
benefit of each of the Priority Creditors respectively until the end of the Subordinated Period and the Debtor shall not be entitled
to claim the benefit of (or seek to enforce) any provision of it.

 

14.2         Continuing
priority

 

The priorities created under this Deed are
continuing and extend to the balance from time to time, and the continued performance, of the Senior Priority Amount until the
end of the Subordination Period irrespective of any intermediate payment or performance of the Senior Priority Amount.

 

    	14

    	 

    

 

14.3         Overriding
agreement

 

This Deed overrides any existing agreement
between the Debtor and the Subordinated Creditor and Its subsidiaries (or any of them) so far as any such agreement is inconsistent
with the terms of this Deed.

 

14.4         Expenses

 

Each Subordinated Creditor must pay Priority
Creditors within fourteen Business Days of demand the amount of ail costs and expenses (including legal fees) incurred by it in
connection with the enforcement of, or the preservation of any rights against that Subordinated Creditor, as appropriate, under
this Deed.

 

14.5         Rights
of third parties

 

14.5.1     Unless
the right of enforcement is expressly granted, it is not intended that a third party should have the right to enforce a provision
of this Deed pursuant to the Contracts (Rights of Third Parties) Act 1999.

 

14.5.2     The
parties may rescind or vary this Deed without the consent of a third party to whom an express right to enforce any of its terms
has been provided.

 

14.6         Partial
invalidity

 

The illegality, invalidity or unenforceability
for whatever reason of any provision of this Deed in any jurisdiction, shall not affect the legality, validity or enforceability
of that provision in any other jurisdiction or the legality, validity or enforceability of the remaining provisions in any jurisdiction.

 

15.         COUNTERPARTS

 

This Deed may be executed in any number
of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Deed.

 

16.         GOVERNING
LAW

 

16.1         Governing
Law

 

This Deed and any non-contractual obligations
arising out of or in relation to this Deed shall be governed by English law.

 

16.2         Jurisdiction
of English courts

 

16.2.1     The
courts of England have exclusive jurisdiction to settle any dispute, including, without limitation, disputes relating to any non-contractual
obligations arising out of or in connection with this Deed (a “Dispute”).

 

16.2.2     The
Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes and accordingly no party
will argue to the contrary.

 

    	15

    	 

    

 

16.2.3     This
Clause 16.2 (Jurisdiction of English courts) is for the benefit of the Priority Creditors only. As a result, the Priority
Creditors shall not be prevented from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent
allowed by law, the Priority Creditors may take concurrent proceedings in any number of jurisdictions.

 

16.3         Service
of process

 

Without limiting any other mode of service
allowed under any relevant law, each Subordinated Creditor irrevocably:

 

(a)          appoints
the Debtor as its agent for service of process in relation to any proceedings before the English courts in connection with this
Deed; and

 

(b)          agrees
that failure by a process agent to notify the Subordinated Creditor of the process will not invalidate the proceedings concerned.

 

This Deed has been executed as a Deed and delivered on the
date stated at the beginning of this Deed. 

 

    	16

    	 

    

 

 

EXECUTION PAGE

 

	Executed as a deed by	)
	KOKO (CAMDEN) LIMITED	)
	acting by a duly authorised Director in the	)
	presence of the Witness whose details	)
	appear below	 
	 	Director
	 	 
	Witness Signature:	 
	 	 
	Witness Name	 
	Witness Address:	 
	 	 
	Witness Occupation	 
	 	 
	TRINAD CAPITAL MASTER FUND LTD	 
	 	 
	By:	 	 
	 	 	 
	Title:	 	 
	 	 
	 	 
	JJAT CORP.	 
	 	 
	By:	 	 
	 	 	 
	Title:	 	 

 

    	17

    	 

    

 

	Executed as a deed by	)
	HUGH DOHERTY	)
	in the presence of the	)
	Witness whose details appear below	)
	 	 
	Witness Signature:	 
	 	 
	Witness Name	 
	Witness Address:	 
	 	 
	Witness Occupation	 
	 	 
	 	 
	Executed as a deed by	)
	LAURENCE SEYMOUR	)
	in the presence of the	)
	Witness whose details appear below	)
	 	 
	Witness Signature:	 
	 	 
	Witness Name	 
	Witness Address:	 
	 	 
	Witness Occupation	 
	 	 
	 	 
	Executed as a deed by	)
	ALEX RUTHERFORD	)
	in the presence of the	)
	Witness whose details appear below	)
	 	 
	Witness Signature:	 
	 	 
	Witness Name	 
	Witness Address:	 
	 	 
	Witness Occupation	 

 

    	18

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