Document:

BBM
HOLDINGS, INC.

      UNIT
SUBSCRIPTION AGREEMENT

      SERIES
B CONVERTIBLE PREFERRED STOCK AND WARRANTS

       

      UNIT
SUBSCRIPTION AGREEMENT (the “Agreement”) dated as
of May 31, 2009 between BBM Holdings, Inc. (f/k/a Broadband Maritime of Utah
Inc.), a Utah corporation (the “Company”), and the
persons who execute this agreement as investors (each an “Investor” and,
collectively, the “Investors”).

       

      WITNESSETH:

       

      WHEREAS,
the Company desires to sell to the Investors, and the Investors desire to
purchase, an aggregate of up to 6,000,000 shares of Series B Stock (as defined
below) of the Company (the “Shares”), in Units
(as defined below) with 5-year warrants, in substantially the form attached
hereto as Exhibits
1 and 2
(the “Class F
Warrants” and “Class G Warrants”
respectively), exercisable after receipt of Required Stockholder Approval to
purchase an aggregate of up to 6,000,000 shares and 6,000,000 shares,
respectively, of Common Stock of the Company (the “Warrant Shares”) at
$.18 per share (the “Warrants”), all for
an aggregate price of $1,080,000;

       

      WHEREAS,
the following terms appearing herein shall have the following
meanings:

       

      “Actions” has the
meaning set forth in Section 2.13.

       

      “Agreement” has the
meaning set forth in the preamble.

       

      “AIGH” shall mean AIGH
Investment Partners, LLC, a Utah limited liability company.

       

      “Blue Sky Laws” has
the meaning set forth in Section 2.9(b).

       

      “Capitalization Table”
has the meaning set forth in Section 2.2(a).

       

      “Certificate of
Incorporation” means the Amended and Restated Certificate of
Incorporation of the Company filed with the Secretary of State of the State of
Utah.

       

      “Closing” and “Closing Date” have
the meanings set forth in Section 1.2.

       

      “Closing Certificate
has the meaning set forth in Section 1.3(d).

       

      “Common Stock” shall
mean stock of the Company of any class (however designated) whether now or
hereafter authorized, which generally has the right to participate in the voting
and in the distribution of earnings and assets of the Company without limit as
to amount or percentage, including the Company’s Common Stock, no par value per
share.

       

      “Company” has the
meaning set forth in the preamble and includes any corporation that shall
succeed to or assume, directly or indirectly, the obligations of the Company
hereunder.

       

       “Contemplated
Transactions” has the meaning set forth in Section
2.1(b).

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      “Conversion Price” has
the meaning assigned thereto in the Certificate of Incorporation.

       

      The term
“corporation”
shall mean any corporation, association, joint stock company, business trust,
limited liability company or other similar organization.

       

      “Employee” has the
meaning set forth in Section 2.15(c).

       

      “Event” has the
meaning set forth in Section 2.14.

       

      “Exercise Price” shall
mean $.18 per share.

       

      “Financial Statements”
has the meaning set forth in Section 2.11.

       

      “Governmental Body”
shall mean any: (a) nation, state, commonwealth,
province,   municipality, or district; (b) federal, state, local,
municipal, foreign or other government; or (c) governmental or
quasi-governmental authority of any nature (including any governmental division,
department, agency, commission, instrumentality, official, organization, unit,
body or entity and any court or other tribunal).

       

       “Investors” has the
meaning set forth in the preamble.

       

      “Knowledge” or “Knowledgeable” shall
mean the actual knowledge of the Company’s Chief Executive Officer and Chief
Financial Officer.

       

      “Legal Requirement”
has the meaning set forth in Section 2.10.

       

       “Material Adverse
Change” shall mean a material adverse change in the business, financial
condition, results of operation, properties or operations of the Company taken
as a whole.

       

      “Material Adverse
Effect” shall mean a material adverse effect on the operations, assets,
liabilities, financial condition or business of the Company.

       

      “Material Agreement”
shall mean any material note, bond, mortgage, indenture, contract, agreement,
lease, license, permit, franchise or other instrument or obligation to which the
Company is a party or by which the Company or any property or asset of the
Company is bound or affected.

       

      “Ordinary Course of
Business” has the meaning set forth in Section 2.14.

       

      “Own” shall mean own
beneficially, as that term is defined in the rules and regulations of the
SEC.

       

      “Person” shall mean
any individual, sole proprietorship, partnership, corporation, limited liability
company, business trust, unincorporated association, joint stock corporation,
trust, joint venture or other entity, any university or similar institution, or
any government or any agency or instrumentality or political subdivision
thereof.

      
        
           

        

        
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      “Proposal” shall mean
the merger (the “Merger”) into a
wholly owned subsidiary of the Company to be organized in Delaware, which will
effect a change of the name of the Company to Ohr Pharmaceutical Inc. (or a
similar name), reincorporation in Delaware and an increase in the authorized
capital stock of the Company to 150,000,000 shares of Common Stock, $0.0001 par
value per share, and 15,000,000 shares of serial preferred stock, $0.0001 par
value per share, of which 6,000,000 shares shall be designated as Series B
Convertible Preferred Stock, having substantially the same terms as the Series B
Stock.

       

      “Proprietary Assets”
has the meaning set forth in Section 2.15(a).

       

      “Required Stockholder
Approval” shall mean a vote in favor of the Proposal of more than 50% of
the outstanding voting shares of the Company.

       

       “SEC” shall mean the
Securities and Exchange Commission.

       

      “Securities” shall
mean the Shares and the Warrants.

       

      “Securities Act” has
the meaning set forth in Section 2.5.

       

      “Series B Stock” shall
mean the Series B Convertible Preferred Stock, no par value per share, of the
Company, having the terms set forth in the Certificate of Designation, in the
form attached hereto as Exhibit
3.

       

      “Shares” has the
meaning set forth in the preamble.

       

      “Subsidiary” shall
mean, immediately prior to the Closing, any corporation of which stock or other
interest having ordinary power to elect a majority of the Board of Directors (or
other governing body) of such entity (regardless of whether or not at the time
stock or interests of any other class or classes of such corporation shall have
or may have voting power by reason of the happening of any contingency) is,
immediately prior to the Closing, directly or indirectly Owned by the Company or
by one or more if its Subsidiaries.

       

      “Taxes” shall mean all
Federal, state, local and foreign income, franchise, property, sales, use,
excise and other taxes, including obligations for withholding taxes from
payments due or made to any other person and any interest, penalties or
additions to tax.

       

      “Transaction
Documents” shall mean this Agreement and the Warrants.

       

      “Transfer Agent” has
the meaning set forth in Section 1.2(b).

       

      “Underlying Shares”
shall mean the shares of Common Stock issued from time to time upon conversion
of the Shares and the Warrant Shares.

       

      “Unit” shall mean (i)
one hundred (100) Shares, (ii) one hundred (100) Class F Warrants and (iii) one
hundred (100) Class G Warrants.

       

      “Unit Price” shall
mean $18.00 per Unit.

      
        
           

        

        
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      “Warrants” shall mean
the Class F Warrants and the Class G Warrants.

       

      “Warrant Shares” has
the meaning set forth in the preamble, and includes any shares of Common Stock
issuable from time to time upon exercise of the Warrants.

       

      NOW,
THEREFORE, in consideration of the mutual covenants contained herein, the
parties hereto hereby agree as follows:

       

      1.           Purchase
and Sale of Stock.

       

      1.1.        Sale and Issuance of
Securities.  (a)  The Company shall sell to the
Investors and the Investors shall purchase from the Company, up to 6,000,000
Units at a price per Unit equal to the Unit Price.

       

      (b)           The
purchase price of the Units to be purchased by each Investor from the Company is
set forth on Schedule
1.1(b) hereto, subject to acceptance, in whole or in part, by the
Company.

       

      1.2.        Closing.  The
closing (the “Closing”) of the
purchase and sale of the Securities hereunder shall take place no later than 15
days following date first set forth above, or such other date as agreed to by
the Company, AIGH (the “Closing
Date”).  The Closing shall take place at the offices of Hahn
& Hessen LLP, the Investors’ counsel, in New York, New York, or at such
other location as is mutually acceptable to AIGH and the Company, subject to
fulfillment of the conditions of closing set forth in the
Agreement.  At the Closing:

       

      (a)           each
Investor purchasing Securities at the Closing shall deliver to the Company or
its designees by wire transfer or such other method of payment as the Company
shall approve, an amount equal to the purchase price of the Securities purchased
by such Investor hereunder, as set forth opposite such Investor’s name on the
signature pages hereof; and

       

      (b)           the
Company shall authorize its transfer agent (the “Transfer Agent”) to
arrange delivery to each Investor of one or more stock certificates registered
in the name of the Investor, or in such nominee name(s) as designated by the
Investor in writing, representing the number of Shares equal to 100 multiplied
by the number of Units purchased by the Investor; and

       

      (c)           the
Company shall issue and deliver to each Investor (i) the number of Class F
Warrants and (ii) the number of Class G Warrants, in each case equal to the
number of Shares as determined under Section 1.2(b).

       

      1.3.        Investors’ Conditions of
Closing.  The obligation of the Investors to complete the
purchase of the Securities at the Closing is subject to fulfillment of the
following conditions:

       

      (a)           the
representation and warranties of the Company set forth in this Agreement shall
be true and correct in all material respects as of the date of this Agreement
and (to the extent such representations and warranties speak as of a later date)
as of such later date as though made on and as of the Closing Date, and the
Company shall have performed in all material respects all covenants and other
obligations required to be performed by it under this Agreement at or prior to
the Closing Date;

      
        
           

        

        
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      (b)           the
absence of a Material Adverse Change from the date of this Agreement up to, and
including, the Closing Date;

       

      (c)           the
Company shall have executed and delivered all other documents reasonably
requested by counsel for the Investors that are necessary to complete the
Contemplated Transactions;

       

      (d)           the
Investors shall have received a certificate signed on behalf of the Company by
the Chief Executive Officer and Secretary of the Company, in such capacities, to
the effect that all covenants and other obligations required to be performed by
the Company at or prior to the Closing Date under this Agreement shall have been
performed in all material respects (the “Closing
Certificate”); and

       

      (e)           the
Company shall have executed and delivered all other documents reasonably
requested by counsel for the Investors that are necessary to complete the
contemplated transactions.

       

      1.3         Waiver of Conditions of
Closing by Investors.  Any of the conditions to the obligation
of the Investors to complete the purchase of the Securities at the Closing that
are set forth in Section 1.3 hereof may be waived by the Investors upon the
written consent of Investors subscribing for at least fifty-one percent (51%) of
the aggregate total Shares being sold pursuant to this Agreement.

       

      1.4.        Company’s Conditions of
Closing.  The obligation of the Company to complete the sale of
the Securities at the Closing is subject to fulfillment of the following
condition, which may waived by the Company:

       

      (a)           the
representation and warranties of the Investors set forth in this Agreement shall
be true and correct in all material respects as of the date of this Agreement
and (to the extent such representations and warranties speak as of a later date)
as of such later date as though made on and as of the Closing Date.

       

      2.           Representations, Warranties
and Covenants of the Company.  The Company hereby represents
and warrants to, and covenants with, each of the Investors as
follows:

       

      2.1.        Corporate Organization;
Authority; Due Authorization.

       

      (a)           The
Company (i) is a corporation duly organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation, (ii) has the
corporate power and authority to own or lease its properties as and in the
places where such business is conducted and to carry on its business as
conducted and (iii) is duly qualified as a foreign corporation authorized to do
business in every jurisdiction where the failure to so qualify, individually or
in the aggregate, would have a Material Adverse Effect.

       

      
        
           

        

        
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      (b)           As
of the date of this Agreement and as of the Closing, the Company (i) has the
requisite corporate power and authority to execute, deliver and perform this
Agreement and the other Transaction Documents to which it is a party and to
incur the obligations herein and therein and (ii) has been authorized by all
necessary corporate action to execute, deliver and perform this Agreement and
the other Transaction Documents to which it is a party and to consummate the
transactions contemplated hereby and thereby (the “Contemplated
Transactions”).  Each of this Agreement and the other
Transaction Documents is a valid and binding obligation of the Company,
enforceable in accordance with its terms except as limited by applicable
bankruptcy, reorganization, insolvency, moratorium or similar laws affecting the
enforcement of creditors’ rights and the availability of equitable remedies
(regardless of whether such enforceability is considered in a proceeding at law
or equity) and except as set forth in Section 2.4.

       

      2.2.        Capitalization.

       

      (a)           The
authorized capital stock of the Company, prior to Closing shall consist of (i)
50,000,000 shares of Common Stock, no par value per share, of which 25,247,006
shares of Common Stock are outstanding, and (ii) 10,000,000 shares of Preferred
Stock, no par value per share, of which no shares are
outstanding.  Immediately after the Closing, assuming sale of all the
Units, the capitalization of the Company shall be as set forth on Exhibit 4 (the “Capitalization
Table”).  The Capitalization Table sets forth the (1) warrants,
options, convertible securities and other stock purchase rights outstanding on
the date hereof, the names of the holders thereof, the number of shares of
common stock issuable thereunder and the exercise or conversion price thereof,
as the case may be, and (2) warrants, options, convertible securities and other
stock purchase rights, the names of the holders thereof, the number of shares of
common stock issuable thereunder and the exercise or conversion price thereof,
as the case may be, immediately after the Closing.

       

      (b)           Except
as contemplated by this Agreement or as set forth in the Capitalization Table,
there are (i) no outstanding subscriptions, warrants, options, conversion
privileges or other rights or agreements obligating the Company to purchase or
otherwise acquire or issue any shares of capital stock of the Company (or shares
reserved for such purpose), (ii)  no preemptive rights or contracts to
which the Company is a party or rights of first refusal with respect to the
issuance of additional shares of capital stock of the Company, including without
limitation the Shares and the Underlying Shares, and (iii) no commitments
or understandings (oral or written) of the Company to issue any shares,
warrants, options or other rights.  None of the shares of Common Stock
are subject to any stockholders’ agreement, voting trust agreement or similar
arrangement or understanding to which the Company is a party.  The
Company has no outstanding bonds, debentures, notes or other obligations the
holders of which have the right to vote (or which are convertible into or
exercisable for securities having the right to vote) with the stockholders of
the Company on any matter.

       

      2.3.        Validity of
Shares.  As of the date of this Agreement and as of the
Closing, the issuance of the Shares has been duly authorized by all necessary
corporate action on the part of the Company, and, when issued to, delivered to,
and paid for by the Investors in accordance with this Agreement, the Shares will
be validly issued, fully paid and non-assessable.

      
        
           

        

        
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      2.4.        Underlying Shares; Warrant
Shares.  The issuance of the Underlying Shares upon conversion
of the Shares has been duly authorized.  The issuance of shares of
Common Stock upon exercise of the Warrants has not been duly
authorized.  The Underlying Shares and shares issuable upon conversion
of the Shares have been, and at all times prior to such exercise will have been,
duly reserved for issuance upon such exercise and, when so issued, will be
validly issued, fully paid and non-assessable.  The Warrant Shares
issuable upon exercise of the Warrants will be upon Required Stockholder
Approval and effectiveness of the Merger, duly reserved for issuance upon such
exercise and, when so issued, will be validly issued, fully paid and
non-assessable.

       

      2.5.        Private
Offering.  Neither the Company nor anyone acting on its behalf
has within the last 12 months issued, sold or offered any security of the
Company (including, without limitation, any Common Stock or warrants or similar
tenor to the Warrants) to any Person under circumstances that would cause the
issuance and sale of the Securities or any other Contemplated Transaction to be
subject to the registration requirements of the Securities Act of 1933, as
amended (the “Securities
Act”).  Except as contemplated by the Transaction Documents,
neither the Company nor anyone acting on its behalf will offer the Securities or
any part thereof or any similar securities for issuance or sale to, or solicit
any offer to acquire any of the same from, anyone so as to make the issuance and
sale of the Securities subject to the registration requirements of
Section 5 of the Securities Act.

       

      2.6.        Brokers and
Finders.  The Company has not retained any investment banker,
broker or finder in connection with the Contemplated Transactions.

       

      2.7.        Subsidiaries.  The
Company has no Subsidiaries and does not otherwise directly or indirectly
control any other business entity.

       

      2.8.        Other
Interest.  The Company does not Own directly or indirectly any
interest or investment (whether equity or debt) in any corporation.

       

      2.9.        No Conflict; Required
Filings and Consents.

       

      (a)           As
of the date of this Agreement and as of the Closing, the execution, delivery and
performance of this Agreement and the other Transaction Documents by the Company
do not, and the consummation by the Company of the Contemplated Transactions
will not, (i) conflict with or violate the Certificate of Incorporation or
By-Laws of the Company, (ii) conflict with or violate any law, rule, regulation,
order, judgment or decree applicable to the Company or by which any property or
asset of the Company is bound or affected, or (iii) result in any breach of or
constitute a default (or an event which with notice or lapse of time or both
would become a default) under, result in the loss of a material benefit under,
or give to others any right of purchase or sale, or any right of termination,
amendment, acceleration, increased payments or cancellation of, or result in the
creation of a lien or other encumbrance on any property or asset of the Company
pursuant to, any Material Agreement; except, in the case of clauses (ii) and
(iii) above, for any such conflicts, violations, breaches, defaults or other
occurrences that would not prevent or delay consummation of any of the
Contemplated Transactions in any material respect or otherwise prevent the
Company from performing its obligations under this Agreement or any of the other
Transaction Documents  in any material respect, and would not,
individually or in the aggregate, have a Material Adverse Effect.

       

      
        
           

        

        
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      (b)          Assuming
the accuracy of the representations and warranties of the Investors set forth in
Section 3 herein, the execution and delivery of this Agreement and the other
Transaction Documents by the Company do not, and the performance of this
Agreement and the other Transaction Documents and the consummation by the
Company of the Contemplated Transactions will not, require any consent,
approval, authorization or permit of, or filing with or notification to, any
Governmental Body or violate any state securities or “blue sky” laws (“Blue Sky
Laws”).

       

      2.10.      Compliance.  The
Company is not in conflict with, or in default or violation of (i) any law,
rule, regulation, order, judgment or decree applicable to it or by which any
property or asset of the Company is bound or affected (“Legal Requirement”)
or (ii) any Material Agreement, in each case except for any such conflicts,
defaults or violations that would not, individually or in the aggregate, have a
Material Adverse Effect.  The Company has not received any written
notice or communication from any Governmental Body regarding any actual or
possible violation of, or failure to comply with, any Legal
Requirement.  The Company has obtained all licenses, permits, and
other authorizations and has taken all actions required by applicable law or
governmental regulations in connection with its business as now conducted, where
the failure to obtain any such item or to take any such action would have,
individually or in the aggregate, a Material Adverse Effect.  None of
the Company, or to the knowledge of the Company, any director, officer, agent,
employee or other person acting on behalf of the Company has used any corporate
funds for unlawful contributions, payments, gifts or entertainment or for the
payment of other unlawful expenses relating to political activity, or made any
direct or indirect unlawful payments to governmental or regulatory officials or
others.

       

      2.11.      SEC Documents; Financial
Statements.

       

      (a)          The
information contained in the following documents, did not, as of the date of the
applicable document, include any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances in which they were made,
not misleading, as of their respective filing dates or, if amended, as so
amended (the following documents, collectively, the “SEC Documents”),
provided that the representation in this sentence shall not apply to any
misstatement or omission in any SEC Document filed prior to the date of this
Agreement which was superseded by a subsequent SEC Document filed prior to the
date of this Agreement:

       

      (i)           the
Company’s Annual Report on Form 10-K for the year ended September 30, 2008, as
amended by the Form 10-K/A filed on April 1, 2009; and

       

      (ii)           the
Company’s Quarterly Report on Form 10-Q for the quarter ended on December 31,
2008, as amended by the Form 10-Q/A filed on April 1, 2009.

      
        
           

        

        
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      (b)           The
Company has filed all forms, reports and documents required to be filed by it
with the SEC since December 31, 2007, including without limitation the SEC
Documents.  As of their respective dates, the SEC Documents filed
prior to the date hereof complied as to form in all material respects with the
applicable requirements of the Securities Act, the Exchange Act, and the rules
and regulations thereunder.

       

      (c)           The
Company’s Annual Report on Form 10-K for the year ended September 30, 2008,
includes consolidated balance sheets as of September 30, 2007 and 2008 and
consolidated statements of income for the one year periods then ended
(collectively, the “Form 10-K Financial
Statements”).

       

      (d)           The
Company’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2008,
includes consolidated balance sheets as of September 30, 2008 and December 31,
2008 and consolidated statements of income for the quarters ended September 30,
2007 and 2008 (the “Form 10-Q Financial
Statements” and together with the Form 10-K Financial Statements, the
“Financial
Statements”).

       

      2.12.      Financial
Statements.  Each of the Financial Statements fairly presents,
in all material respects, the financial position of the Company, or the results
of operations, retained earnings or cash flows, as the case may be, of the
Company as of the referenced date or  for the periods set forth
therein (subject, in the case of unaudited statements, to normal year-end audit
adjustments which would not be material in amount or effect), in each case in
accordance with generally accepted accounting principles consistently applied
during the periods involved, except as may be noted therein and that the
unaudited statements may not contain all footnotes required by generally
accepted accounting principles. The Company does not have any liabilities or
obligations of any nature (whether accrued, absolute, contingent or otherwise),
including for Taxes, that would be required to be reflected on, or reserved
against in, Financial Statements, except for (i) liabilities or obligations that
were so reserved on, or reflected in (including the notes to), the Financial
Statements; and (ii) liabilities or obligations which would not, individually or
in the aggregate, have a Material Adverse Effect.  There has been no
Material Adverse Change since the date of the Financial
Statements.  Other than the indebtedness as set forth in the Financial
Statements, the Company has no indebtedness as of the date hereof.

       

      2.13.      Litigation.  There
are no claims, actions, suits, investigations, inquiries or proceedings (“Actions”) pending
against the Company or, to the knowledge of the Company, threatened against the
Company, or any officer, director, employee or agent thereof in his or her
capacity as such, at law or in equity, or before or by any court, tribunal,
arbitrator, mediator or any federal or state commission, board, bureau, agency
or instrumentality that would reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect.  To the
Company’s knowledge, there is no factual or legal basis for any such
Action.  The Company is not a party to or subject to the provisions of
any order, writ, injunction, judgment or decree of any court or government
agency or instrumentality and there is no Action by the Company currently
pending or which the Company intends to initiate.

       

      
        
           

        

        
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      2.14.      Absence of Certain
Changes.  Except as specifically contemplated by this Agreement
or the SEC Documents, since December 31, 2008, there has not been with respect
to the Company (i) to the Company’s knowledge, any event, occurrence, fact,
condition, change, development or effect (“Event”) that would
reasonably be expected to have a Material Adverse Effect; (ii) any declaration,
payment or setting aside for payment of any dividend or other distribution or
any redemption, purchase or other acquisition of any shares of capital stock or
securities of the Company; (iii) any return of any capital or other distribution
of assets to stockholders of the Company; (iv) any acquisition (by merger,
consolidation, acquisition of stock or assets or otherwise) of any person or
business; (v) incurrence of any indebtedness for money borrowed or incurred any
other liabilities individually in excess of $25,000 or in excess of $100,000 in
the aggregate (other than indebtedness or liabilities incurred in the ordinary
course of business, consistent with past practices and reasonable business
operations of the Company (the “Ordinary Course of
Business”)); (vi) any loans or advances to any person, other than
ordinary advances for travel and other expenses in the Ordinary Course of
Business; (vii) sale, exchange or other disposition of any material assets or
rights other than the sale of inventory in the Ordinary Course of Business;
(viii) any transactions, other than in the Ordinary Course of Business, with any
of its officers, directors, principal shareholders or employees or any person
affiliated with any of such persons; (ix) any other action or agreement or
undertaking by the Company that, if taken or done on or after the date hereof
would reasonably be expected to have a Material Adverse Effect; or (x) any
material change in its accounting principles, practices or
methods.  Without limiting the foregoing, since the date of the
Balance Sheet, there has been no Material Adverse Effect affecting the Company’s
financial condition as of the date of this Agreement or results of operations
through the date of this Agreement, which would be reflected in its audited
financial statements to be prepared for and through September 30, 2009 or as a
subsequent event.

       

      2.15.      Proprietary
Assets.

       

      (a)           For
purposes of this Agreement, “Proprietary Assets”
shall mean any: (i) patent, patent application, trademark (whether registered or
unregistered), trademark application, trade name, fictitious business name,
service mark (whether registered or unregistered), service mark application,
copyright (whether registered or unregistered), copyright application, maskwork,
maskwork application, trade secret, know-how, customer list, franchise, system,
computer software, computer program, invention, design, blueprint, engineering
drawing, proprietary product, technology, proprietary right or other
intellectual property right or intangible asset relating to the foregoing; or
(ii) right to use or exploit any of the foregoing.

       

      (b)           The
Company, as a whole, has good, valid and marketable title to, or has a valid
right to use, all of the Proprietary Assets used in the Company’s Business free
and clear of all liens and other encumbrances to the knowledge of the Company;
and are not obligated to make any payment to any person for the use of any
Proprietary Asset.  The Company has not developed jointly with any
other person any Proprietary Asset with respect to which such other person has
any rights.  The Company has no knowledge that any other person has
any right, title or interest in any of the Proprietary Assets of the
Company.

       

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

       

      (c)           The
Company has taken reasonable and customary measures and precautions to protect
and maintain the confidentiality and secrecy of all Proprietary Assets of the
Company (except Proprietary Assets whose value would be unimpaired by public
disclosure) and otherwise to maintain and protect the value of all Proprietary
Assets of the Company.  Each employee, officer, consultant and
contractor (not including contractors without access to confidential information
of the Company) of the Company (each, an “Employee”) has
entered into and executed an agreement providing for (i) the assignment to the
Company  of personal rights or claims to Proprietary Assets for which
such Employee’s personal rights or claims arose out of the scope of his/her
employment or retainer by the Company and (ii) the nondisclosure of confidential
information acquired by the Employee with respect to the Proprietary Assets of
the Company or  an employment or consulting agreement containing
substantially similar terms.  The Company has not disclosed or
delivered to any person, or permitted the disclosure or delivery to any person
of, (i) the source code, or any portion or aspect of the source code, of any
Proprietary Asset of the Company, (ii) the object code, or any portion or aspect
of the object code, of any Proprietary Asset of the Company or (iii) any patent
applications (except as required by law).

       

      (d)           To
the knowledge of the Company, (i) none of the Proprietary Assets of the
Company necessary for the conduct of their businesses infringes or conflicts
with any Proprietary Asset owned or used by any other Person, (ii) the Company
is not infringing, misappropriating or making any unlawful use of, and the
Company has not at any time infringed, misappropriated or made any unlawful use
of, or received any notice or other communication (in writing or otherwise) of
any actual, alleged, possible or potential infringement, misappropriation or
unlawful use of, any Proprietary Asset owned or used by any other person, and
(iii) no other person is infringing, misappropriating or making any unlawful use
of, and no Proprietary Asset owned or used by any other person infringes or
conflicts with, any Proprietary Asset of the Company.

       

      (e)           There
has not been any claim by any customer or other person alleging that any
Proprietary Asset of the Company (including each version thereof that has ever
been licensed or otherwise made available by the Company to any person) does not
conform in all material respects with any specification, documentation,
performance standard, representation or statement made or provided by or on
behalf of the Company, and, to the knowledge of the Company, there is no basis
for any such claim.

       

      (f)           The
Company is not knowledgeable of any Proprietary Asset owned or used by any other
person (except for any Proprietary Asset that is licensed to the Company under
any third party license or would otherwise be commercially available) necessary
to enable the Company to conduct its businesses in the manner in which such
businesses have been and are being conducted or are expected to be
conducted.  The Company (i) has not licensed, or agreed to license,
any of its Proprietary Assets to any person on an exclusive, semi-exclusive or
royalty-free basis, and (ii) has not entered into any covenant not to compete or
contract limiting its ability to exploit fully any of its Proprietary Assets or
to transact business in any market or geographical area or with any
person.  Without limitation on the foregoing, to the Company’s
knowledge, no officer or director, either as an individual or through an
affiliate, has any claim to own or any other rights to use any of the
Proprietary Assets.

       

      2.16.      No Adverse
Actions.  There is no existing, pending or, to the knowledge of
the Company, threatened termination, cancellation, limitation, modification or
change in the business relationship of the Company, with any supplier, customer
or other Person except such as would not reasonably be expected, individually or
in the aggregate, to have a Material Adverse Effect.

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

       

      2.17.      Registration
Rights.  Except as provided herein or otherwise contemplated by
the Transaction Documents, the Company is not under any obligation to register
under the Securities Act any of its currently outstanding securities or any
securities issuable upon exercise or conversion of its currently outstanding
securities nor is the Company obligated to register or qualify any such
securities under any state securities or Blue Sky Laws.

       

      2.18.      Corporate
Documents.  All corporate documents (as amended to date and
prior to the Closing Date), including the Certificate of Incorporation, By-Laws
and minutes of meetings and consents of the Board of Directors and shareholders
of the Company, which have been requested and previously provided to the
Investors are true, correct and complete and contain all amendments
thereto.

       

      2.19.      Disclosure.  No
representation or warranty of the Company herein contains (as of the date of
this Agreement) or will contain (as of the Closing Date), as appropriate, any
untrue statement of a material fact or omits (as of the date of this Agreement)
or will omit (as of the Closing Date), as appropriate, to state a material fact
necessary in order to make the statements contained herein or therein not
misleading in light of the circumstances under which they were
made.

       

      3.           Representations and
Warranties of the Investors.  Each Investor represents and
warrants to the Company as follows:

       

      3.1.        Authorization.   Each
Investor (i) has full power and authority to execute, deliver and perform this
Agreement and the other Transaction Documents to which it is a party and to
incur the obligations herein and therein and (ii) if applicable, has been
authorized by all necessary corporate action to execute, deliver and perform
this Agreement and the other Transaction Documents and to consummate the
Contemplated Transactions.  Each of this Agreement and the other
Transaction Documents is a valid and binding obligation of Investor enforceable
in accordance with its terms, except as limited by applicable bankruptcy,
reorganization, insolvency, moratorium or similar laws affecting the enforcement
of creditors’ rights and the availability of equitable remedies (regardless of
whether such enforceability is considered in a proceeding at law or
equity).

       

      3.2.        Brokers and
Finders.  Such Investor has not retained any investment banker,
broker or finder in connection with the Contemplated Transactions.

       

      3.3.        Securities Laws
Representations and Covenants of Investors.

       

      (a)           This
Agreement is made with each Investor in reliance upon such Investor’s
representation to the Company, which by such Investor’s execution of this
Agreement such Investor hereby confirms, that the Securities to be received by
such Investor will be acquired for investment for such Investor’s own account,
not as a nominee or agent, and not with a view to the resale or distribution of
any part thereof such that such Investor would constitute an “underwriter” under
the Securities Act.  The Investor has not granted any right to any
other person to acquire the Securities purchased by such Investor or the
Underlying Shares except as permitted by the Securities Act and Blue Sky
Laws.  Notwithstanding the foregoing, this representation and warranty
shall not limit the Investor’s right to sell the Shares, Warrant Shares or the
Underlying Shares pursuant to this Agreement, or in compliance with an exemption
from registration under the Securities Act or the Investor’s right to
indemnification under this Agreement.

       

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

       

      (b)           Each
Investor understands and acknowledges that the offering of the Securities
pursuant to this Agreement will not be registered under the Securities Act or
qualified under any Blue Sky Laws on the grounds that the offering and sale of
the Securities are exempt from registration and qualification, respectively,
under the Securities Act and the Blue Sky Laws, and that the Company’s reliance
upon such exemption is predicated upon such Investor’s representations set forth
in this Agreement.

       

      (c)           Each
Investor covenants that, unless the Securities, the Underlying Shares or any
other shares of capital stock of the Company received in respect of the
foregoing have been registered pursuant to the Securities Act, such Investor
will not dispose of such securities unless and until such Investor shall have
notified the Company of the proposed disposition and shall have furnished the
Company with an opinion of counsel reasonably satisfactory in form and substance
to the Company and its counsel to the effect that (i) such disposition will
not require registration under the Securities Act and (ii) appropriate
action necessary for compliance with the Securities Act and any applicable
state, local or foreign law has been taken; provided, however, that an
Investor may dispose of such securities without providing the opinion referred
to above if the Company has been provided with adequate assurance, reasonably
satisfactory to the Company and its counsel, that such disposition is made in
compliance with Rule 144 under the Securities Act (or any similar or analogous
rule) and any applicable state, local or foreign law.

       

      (d)           In
connection with the investment representations made herein, each Investor
represents that (i) such Investor is able to fend for itself in the
Contemplated Transactions; (ii) such Investor has such knowledge and experience
in financial and business matters as to be capable of evaluating the merits and
risks of such Investor’s prospective investment in the Securities;
(iii) such Investor has the ability to bear the economic risks of such
Investor’s prospective investment and can afford the complete loss of such
investment; (iv) such Investor has read the SEC Filings, including without
limitation the Risk Factors set forth on the Form 10-K/A; (v) such Investor
believes it has received all the information it considers necessary or
appropriate for deciding whether to purchase the Shares; and (vi) such Investor
has had access to officers of the Company and an opportunity to ask questions of
and receive answers from such officers and has had all questions that have been
asked by such Investor satisfactorily answered by the Company.

       

      (e)           Each
Investor further represents by execution of this Agreement that such Investor
qualifies as an “accredited investor” as such term is defined under Rule 501
promulgated under the Securities Act.  Any Investor that is a
corporation, a partnership, a trust or other business entity further represents
by execution of this Agreement that it has not been organized for the purpose of
purchasing the Securities.

       

      (f)           By
acceptance hereof, each Investor agrees that the Securities, the Underlying
Shares and any shares of capital stock of the Company received in respect of the
foregoing held by it may not be sold by such Investor without registration under
the Securities Act or an exemption therefrom, and therefore such Investor may be
required to hold such securities for an indeterminate period.

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

       

      3.4.        Legends.  All
certificates for the Shares, the Warrant, the Underlying Shares and each
certificate representing any shares of capital stock of the Company received in
respect of the foregoing, whether by reason of a stock split or share
reclassification thereof, a stock dividend thereon or otherwise and each
certificate for any such securities issued to subsequent transferees of any such
certificate (unless otherwise permitted herein) shall bear the following
legend:

       

      “THE
SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE BEEN ACQUIRED FOR INVESTMENT AND
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933.  SUCH
SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF REGISTRATION OR AN
EXEMPTION THEREFROM UNDER SAID ACT.”

       

      In
addition, such certificates shall bear any legend that, in the opinion of the
Company’s counsel, is required under the other Transaction Documents or pursuant
to any state, local or foreign law governing the Securities and the Underlying
Shares.

       

      3.5.        Acknowledgment of
Reliance. The Investor hereby agrees and acknowledges that the Company
has been induced to enter into this Agreement and to issue and sell the Shares
hereunder, in part, based upon the representations, warranties and covenants of
the Investor contained herein.

       

      4.           Additional Covenants of the
Company.

       

      4.1.        Expenses;
Indemnification.

       

      (a)           The
Company agrees to pay on the Closing Date and save the Investors harmless
against liability for the payment of (i) any stamp or similar taxes (including
interest and penalties, if any) that may be determined to be payable in respect
of the execution and delivery of this Agreement or the other Transaction
Documents, the issue and sale of the Securities and the Underlying Shares, (ii)
the expense of preparing and issuing the Securities and the Underlying Shares,
(iii) the cost of delivering the Securities and the Underlying Shares of each
Investor to such Investor’s home office, insured to such Investor’s
satisfaction, and (iv) the costs and expenses incurred in the preparation of all
certificates and letters on behalf of the Company and of the Company’s
performance and compliance with all agreements and conditions contained herein
on its part to be performed or complied with.

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

       

      (b)           As
soon as reasonably practicable after receipt by an Investor of notice of any
Loss in respect of which the Company may be liable under Section 4.19(b), the
Investor shall give notice thereof to the Company.  Each Investor may,
at its option, claim indemnity under this Section 4.1 as soon as a claim has
been threatened by a third party, regardless of whether an actual Loss has been
suffered, so long as counsel for such Investor shall in good faith determine
that such claim is not frivolous and that such Investor may be liable or
otherwise incur a Loss as a result thereof and shall give notice of such
determination to the Company.  Each Investor shall permit the Company,
at the Company’s option and expense, to assume the defense of any such claim by
counsel mutually and reasonably satisfactory to the Company and the Investors
who are subject to such claim, and to settle or otherwise dispose of the same;
provided, however, that each
Investor may at all times participate in such defense at such Investor’s
expense; and provided, further, that the
Company shall not, in defense of any such claim, except with the prior written
consent of each Investor subject to such claim, (i) consent to the entry of any
judgment that does not include as an unconditional term thereof the giving by
the claimant or plaintiff in question to each Investor of a release of all
liabilities in respect of such claims, or (ii) consent to any settlement of such
claim.  If the Company does not promptly assume the defense of such
claim irrespective of whether such inability is due to the inability of the
afore-described Investors and the Company to mutually agree as to the choice of
counsel, or if any such counsel is unable to represent an Investor due to a
conflict or potential conflict of interest, then an Investor may assume such
defense and be entitled to indemnification and prompt reimbursement from the
Company for its costs and expenses incurred in connection therewith, including
without limitation, reasonable attorneys’ fees and expenses.  Such
fees and expenses shall be reimbursed to the Investors as soon as practicable
after submission of invoices to the Company.

       

      4.2.        Form D.  As
soon as is practicable following the Closing, the Company shall prepare and file
with the SEC a Form D concerning the sale of the
Securities.  Thereafter, the Company shall furnish such information
statements to the stockholders of the Company in accordance with the appropriate
SEC rules and regulations and shall take all such other actions as may be
necessary or appropriate in order that the Company may validly and legally issue
fully paid and non-assessable Warrant Shares upon the conversion of all Warrants
from time to time outstanding.

       

      4.3.        Proxy Statement;
Stockholders Meeting.  (a)  As promptly as possible,
but in no event later than 15 business days following the Closing, the Company
shall take all action necessary to call a meeting of its stockholders (together
with any adjournments or postponements thereof, the “Stockholders
Meeting”) for the purpose of seeking the Required Stockholder Approval
for the Proposal.  In connection therewith, the Company will promptly
prepare and file with the SEC proxy materials (including a proxy statement (as
amended or supplemented, the “Proxy Statement”) and
form of proxy) for use at the Stockholders Meeting and, after receiving and
promptly responding to any comments of the Commission thereon, shall promptly
mail such proxy materials to the stockholders of the Company.  Each
Investor shall promptly furnish in writing to the Company such information
relating to such Investor and its investment in the Company as the Company may
reasonably request for inclusion in such proxy materials; provided that no
Investor shall be obliged to furnish any such information if there has been no
change in such Investor’s beneficial ownership (as defined under the Exchange
Act) of Common Stock since the Closing Date.  The Proxy Statement
shall not, on the date the Proxy Statement (or any amendment thereof or
supplement thereto) is first mailed to stockholders or at the time of the
Stockholders Meeting, contain any statement which, at the time and in the light
of the circumstances under which it is made, is false or misleading with respect
to any material fact, or which omits to state any material fact necessary in
order to make the statements therein not false or misleading or necessary to
correct any statement in any earlier communication with respect to the
solicitation of a proxy for the Stockholders Meeting or the subject matter
thereof which has become false or misleading.  If the Company should
discover at any time prior to the Stockholders Meeting any event relating to the
Company or any of its affiliates, officers or directors that is required to be
set forth in a supplement or amendment to the Proxy Statement, the Company will
promptly inform its stockholders and the Investors thereof.

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

       

      (b)           Subject
to its fiduciary obligations under applicable law (as determined in good faith
by the Company’s Board of Directors after consultation with the Company’s
outside counsel), the Company's Board of Directors shall recommend to the
Company's stockholders (and not revoke or amend such recommendation) that the
stockholders vote in favor of the Proposal and shall cause the Company to take
all commercially reasonable action (excluding the hiring of a proxy solicitation
firm of nationally recognized standing) to solicit the Required Stockholder
Approval.  Whether or not the Company's Board of Directors determines
at any time after the date hereof that, due to its fiduciary duties, it must
revoke or amend its recommendation to the Company’s stockholders, the Company is
required to, and will take, in accordance with applicable law and its Articles
of Incorporation and Bylaws, all action necessary to convene the Stockholders
Meeting as promptly as practicable to consider and vote upon the approval of the
Proposal.

       

      (c)           Each
Investor agrees to use best efforts to vote all the Shares, Underlying Shares
(if any are outstanding) and other shares of Common Stock Owned by such Investor
in favor of the Proposal.

       

      (d)           Piggy-Back
Registrations. If at any time while the Securities are outstanding there
is not an effective registration statement covering all of the Securities and
the Company shall determine to prepare and file with the SEC a registration
statement relating to an offering for its own account or the account of others
under the Securities Act of any of its equity securities, other than on Form S-4
or Form S-8 or their then equivalents relating to equity securities to be issued
solely in connection with any acquisition of any entity or business or equity
securities issuable in connection with the stock option or other employee
benefit plans, then the Company shall send to each Investor a written notice of
such determination and, if within 15 days after the date of such notice, any
Investor shall so request in writing, the Company shall include in such
registration statement all or any part of such Securities such Investor requests
to be registered; provided, however, that, the
Company shall not be required to register any Securities pursuant to this
Section 4.4 that are eligible for resale pursuant to Rule 144 or that are the
subject of a then effective registration statement.

       

      5.           Miscellaneous.

       

      5.1.        Entire Agreement; Successors
and Assigns.  This Agreement (including all schedules and
exhibits thereto) constitutes the entire contract between the parties relative
to the subject matter hereof and thereof.  Any previous agreement
among the parties with respect to the sale of Securities is superseded by this
Agreement.  The terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the respective executors, administrators,
heirs, successors and assigns of the parties.  Except as expressly
provided herein, nothing in this Agreement, expressed or implied, is intended to
confer upon any party, other than the parties hereto, any rights, remedies,
obligations or liabilities under or by reason of this Agreement.

       

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

       

      5.2.        Survival of Representations
and Warranties. All representations and warranties of the parties set
forth in this Agreement and the Closing Certificate shall survive the execution
and delivery of this Agreement and the Closing hereunder and shall continue in
full force and effect for twenty-four (24) months after the
Closing.

       

      5.3.        Governing Law;
Jurisdiction.  This Agreement shall be governed by and
construed in accordance with the General Corporation Law of the State of Utah as
to matters within the scope thereof, and as to all other matters shall be
governed by and construed in accordance with the internal laws of the State of
New York without regard to principles of conflicts of law.  Each party
hereby irrevocably consents and submits to the jurisdiction of any New York
State or United States Federal Court sitting in the State of New York, County of
New York, over any action or proceeding arising out of or relating to this
Agreement and irrevocably consents to the service of any and all process in any
such action or proceeding by registered mail addressed to such party at its
address specified on the signature page hereof.  Each party waives any
objection to venue in New York and any objection to an action or proceeding in
such state and county on the basis of forum non-conveniens.  Each
party waives any right to trial by jury.

       

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

       

      5.5.        Headings.  The
headings of the sections of this Agreement are for convenience and shall not by
themselves determine the interpretation of this Agreement.

       

      5.6.        Notices.  Any
notice required or permitted hereunder shall be given in writing and shall be
deemed effectively given upon personal delivery and if a fax number has been
provided, upon delivery (with answerback confirmed), addressed to a party at its
address and the fax number, if any, shown below or at such other address and fax
number as such party may designate by three days advance notice to the other
party.

       

      Any
notice to the Investors shall be sent to the addresses set forth on the
signature pages hereof.

       

      Any
notice to the Company shall be sent to:

       

      BBM
Holdings, Inc.

      1245
Brickyard Rd., #590

      Salt Lake
City, Utah 84106

      Attention:      
Andrew Limpert, Chief Executive Officer

      Telephone:     (801)
433-2000

      Fax
number:   (801) 433-2222

      

      with a
copy to:

      

      Hahn
& Hessen LLP

      488
Madison Avenue

      New York,
New York 10022

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

      

      Attention:      
 James Kardon

      Fax
Number:   (212) 478-7400

      

      5.7.        Rights of
Transferees.  Any and all rights and obligations of Investors
herein incident to the ownership of the Securities or the Underlying Shares
shall pass successively to all subsequent transferees of such securities,
provided that such transfers are made in accordance with the requirements and
restrictions governing transfer of the Securities in the Transaction Documents,
until extinguished pursuant to the terms hereof.

       

      5.8.        Severability.  Whenever
possible, each provision of this Agreement shall be interpreted in such a manner
as to be effective and valid under applicable law, but if any provision of this
Agreement shall be deemed prohibited or invalid under such applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity,
and such prohibition or invalidity shall not invalidate the remainder of such
provision or any other provision of this Agreement.

       

      5.9.        Conflicts.  The
Company and each Investor (i) acknowledge that Hahn & Hessen LLP,
counsel to the Company in the transactions contemplated in this
Agreement, has acted, and from time to time continues to act, as counsel to
AIGH Investment Partners, LLC in connection with its investments
in the Company and in unrelated matters, (ii) consent to the representation
of the Company and such other representation of AIGH, or affiliates thereof, by
Hahn & Hessen LLP, (iii) acknowledge that partners of Hahn & Hessen LLP
own securities of the Company constituting less than 0.1% of
outstanding stock of the Company, and (iv) waive any conflicts of interest
claim which may arise from any or all of the foregoing

       

      5.10.      Public
Statements.   Neither the Company nor any Investor shall
make any public statement about the Contemplated Transactions without the prior
written consent of the other party, unless that party determines in good faith,
on the advice of legal counsel, that public disclosure is required by law, in
which case that party shall consult with the other party prior to making a
statement.

       

      5.11.      Amendments and
Waivers.  Unless a particular provision or section of this
Agreement requires otherwise explicitly in a particular instance, any provision
of this Agreement may be amended and the observance of any provision of this
Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company
and subscribers for or holders of fifty-one percent (51%) of the aggregate
Shares or then-outstanding Shares, respectively.  Any amendment or
waiver effected in accordance with this Section 5.11 shall be binding upon each
holder of any Securities purchased under this Agreement at the time outstanding
(including the Underlying Shares), each future holder of all such Securities
(including the Underlying Shares), and the Company.

       

      [REMAINDER
OF PAGE INTENTIONALLY BLANK]

      
        
           

        

        
          18

          
            

          

        

        
           

        

      

       

      SIGNATURE
PAGE

      TO

      BBM
HOLDINGS, INC.

      SUBSCRIPTION
AGREEMENT

       

      IF the
PURCHASER is an INDIVIDUAL, please complete the following:

       

      IN
WITNESS WHEREOF, the undersigned has executed this Agreement this __ day of May,
2009.

       

      Amount of
Subscription:        $______________________

      

      ___________________________________

      Print
Name

      

      ___________________________________

      Signature
of Investor

      

      ___________________________________

      Social
Security Number

      

      ___________________________________

      Address
and Fax Number

      

      ___________________________________

       

      ACCEPTED
AND AGREED:

      

      BBM
HOLDINGS, INC.

      

      By:______________________________________

      Name:

      Title:

      

      Dated:___________________________________

       

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      

      SIGNATURE
PAGE

      TO

      BBM
HOLDINGS, INC.

      SUBSCRIPTION
AGREEMENT

       

      IF the
INTERESTS will be held as JOINT TENANTS, as TENANTS IN COMMON, or as COMMUNITY
PROPERTY, please complete the following:

       

      IN
WITNESS WHEREOF, the undersigned has executed this Agreement this __ day of May,
2009.

       

      Amount of
Subscription:     $______________________

      

      ____________________________________

      Print
Name of a Purchaser

      

      ____________________________________

      Signature
of a Purchaser

      

      ____________________________________

      Print
Name of Spouse or Other Purchaser

      

      ____________________________________

      Signature
of Spouse or Other Purchaser

      

      ____________________________________

      Social
Security Number

      

      ____________________________________

      Address

      

      ____________________________________

      

      ACCEPTED
AND AGREED:

      

      BBM
HOLDINGS, INC.

      

      By:______________________________________

      Name:

      Title:

      

      Dated:___________________________________

       

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      SIGNATURE
PAGE

      TO

      BBM
HOLDINGS, INC.

      SUBSCRIPTION
AGREEMENT

       

      IF the
PURCHASER is a PARTNERSHIP, CORPORATION, TRUST or OTHER ENTITY, please complete
the following:

       

      IN
WITNESS WHEREOF, the undersigned has executed this Agreement this __ day of May,
2009.

       

      Amount of
Subscription:      $______________________

       

      

      _________________________________________

      Print
Full Legal Name of Partnership,

      Company,
Trust or Other Entity

      

      By:______________________________________

      (Authorized
Signatory)

      Name:

      Title:

      

      Address
and Fax Number:

      

      _________________________________________

      _________________________________________

      

      Employer
Identification Number:______________

      

      Date and
State of Incorporation or 

      Organization:_____________________________

      

      Date on
which Taxable Year Ends:____________

      

      ACCEPTED
AND AGREED:

      

      BBM
HOLDINGS, INC.

      

      By:______________________________________

      Name:

      Title:

      

      Dated:___________________________________

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      TRUST/PLAN
CERTIFICATE

       

      [TO BE
COMPLETED IF THE SHARES ARE TO BE HELD IN THE NAME OF A TRUST, KEOGH, IRA OR
EMPLOYEE BENEFIT OR RETIREMENT PLAN]

       

      CERTIFICATE
OF ___________________________________________

       

      [NAME OF
TRUST/PLAN]

       

      The
undersigned, Trustee of ______________________________ (the “Trust/Plan”) hereby
certifies as follows:

       

      1.           That
the Trust/Plan was established pursuant to a Trust/Plan Agreement dated
_______________________________.

       

      2.           That
a true and correct copy of the Trust/Plan Agreement and a true and correct copy
of all other documents relating to powers, authorities and limitations of the
Trustee(s) are attached hereto and that, as of the date hereof, the Trust/Plan
Agreement and such other documents have not been amended (except as to any
attached amendments) nor revoked and are still in full force and
effect.

       

      3.           That,
if the Trustee(s) was (were) appointed by a court, the attached certificate
evidencing the appointment of the Trustee(s), dated within 60 days of the
present date, is a true and correct copy of such certificate.

       

      4.           That,
as the Trustee(s) of the Trust/Plan, I (we) have determined that the investment
in, and purchase of, securities of BBM HOLDINGS, INC. is of benefit to the
Trust/Plan and have determined to make such investment on behalf of the
Trust/Plan.

       

      5.           That
the undersigned is/are Trustees of the Trust/Plan, which Trust/Plan is still in
existence, and that I (we) have due authority to make such investment on behalf
of the Trust/Plan and to legally bind the Trust/Plan.

       

      IN
WITNESS WHEREOF, I (we) have executed this Certificate as the Trustee(s) of the
Trust/Plan as of the __ day of May, 2009, and declare that it is
correct.

       

      
        
          
            
              
                
                  	 
      	 
      	
                          By:

                        	 
      
	
                          (Name
      of Trust/Plan)

                        	 
      	
                          Trustee

                        
	 
      	 
      	 
      
	 
      	 
      	
                          By:

                        	 
      
	 
      	 
      	
                          Trustee

                        

                

              

            

          

        

      

       

      PLEASE
ATTACH A COPY OF THE TRUST/PLAN AGREEMENT AND OTHER 

      AUTHORIZING
DOCUMENTS.

       

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      

       

      PARTNERSHIP
CERTIFICATE

       

      [TO BE
COMPLETED IF THE SECURITIES ARE TO BE HELD IN THE NAME OF A
PARTNERSHIP]

       

      CERTIFICATE
OF
_________________________________________________________________________

                      [Partnership
Name]

       

      The
undersigned partners of ______________________________ (the “Investing
Partnership”) hereby certify as follows:

       

      1.           The
Investing Partnership was organized under the laws of ____________________
pursuant to a partnership agreement dated _________ ___, ____ (the “Agreement”).

       

      2.           As
of the date hereof, the Agreement has not been amended (except as to any
attached amendments) or revoked and is still in full force and
effect.

       

      3.           That,
as the partners of the Investing Partnership, we have determined that the
investment in, and purchase of, securities of BBM HOLDINGS, INC. is of benefit
to the Investing Partnership and have determined to make such investment on
behalf of the Investing Partnership,

       

      4.           That
the undersigned has due authority to make such investment decision on behalf of
the partnership.

       

      IN
WITNESS WHEREOF, we have executed this Certificate as the partners of the
Investing Partnership this __ day of May, 2009, and declare that it is
correct.

      

      ___________________________________

      (Partnership
Name)

      

      By:_________________________________

      Partner

      

      By:_________________________________

      Partner

      

      PLEASE
ATTACH A COPY OF THE AGREEMENT OF THE INVESTING PARTNERSHIP 

      AND ANY
AMENDMENTS THERETO.

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

       

      CORPORATE
CERTIFICATE

       

      [TO BE
COMPLETED IF THE SECURITIES ARE TO BE HELD IN THE NAME OF A
CORPORATION]

       

      CERTIFICATE
OF
_______________________________________________________________________

                      [Name of
Company]

       

      The
undersigned certifies that he/she is the secretary (assistant secretary) of
___________________________ (the “Company”), and that,
as such, he/she is authorized to execute this Certificate on behalf of the
Company, and further certifies that:

       

      (a)           At
a meeting of the duly elected Board of Directors of the Company duly called,
convened and held on ___ day of ____________, 2009, at which a quorum was
present and acting throughout, the following resolutions were duly
adopted:

       

      “RESOLVED,
that the Company be and it hereby is, authorized and directed to make an
investment of $________________ for shares of Series B Convertible Preferred
Stock of BBM HOLDINGS, INC., a Utah corporation (“BBM”); and be it
further

       

      “RESOLVED,
that, in payment for such, shares the president or any vice president of the
Company be, and each hereby is, authorized, empowered and directed to either (i)
issue, and deliver a check or (ii) properly endorse or transfer securities or
other assets to BBM in the amount equal to $________________; and be it
further

       

      “RESOLVED,
that the appropriate officers of the Company be, and each hereby is, authorized,
empowered and directed to take all actions necessary or appropriate to carry out
the intent of the foregoing resolutions.”

       

      (b)           Such
resolutions have not been rescinded, amended or changed in any respect, and are
in full force and effect on the date upon which this Certificate is
signed.

       

      (c)           The
Company commenced business on ___ day of ________, ____ and was incorporated
under the laws of the State of ___________________.

       

      (d)           A
true and correct copy of the Articles of Incorporation of the Company is
attached hereto and, as of the date hereof, the Articles of Incorporation have
not been amended (except as to any attached amendments) or revoked and are still
in full force and effect.

       

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, I (we) have executed this Certificate as _________________ of
the Company as of the __ day of May, 2009, and declare that it is
correct.

      

      _________________________________________

      Authorized
Signature

      

      PLEASE
ATTACH A COPY OF THE ARTICLES OF INCORPORATION AND ANY 

      AMENDMENTS
THERETO.

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

       

      LIMITED
LIABILITY COMPANY CERTIFICATE

       

      [TO BE
COMPLETED IF THE SHARES ARE TO BE HELD IN THE NAME OF A LIMITED LIABILITY
COMPANY]

       

      CERTIFICATE
OF
__________________________________________________________________________

                      [Limited Liability
Company Name]

       

      The
undersigned certifies that he/she is the manager (the “Manager”) or member
(the Member”)
of ___________________________ (the “Company”), and that,
as such, he/she is authorized to execute this Certificate on behalf of the
Company, and further certifies that:

       

      1.           The
Company was organized under the laws of ____________________, and operates
pursuant to a charter filed on _________ __, ___, (the “Charter”) and an
operating agreement dated _________ ___, ____ (the “Agreement”).

       

      2.           As
of the date hereof, neither the Charter nor the Agreement has been amended
(except as to any attached amendments) or revoked and both the Charter and the
Agreement are in full force and effect.

       

      3.           The
Manager of the Company has determined that the investment in, and purchase of,
securities of BBM HOLDINGS, INC., a Utah corporation, is of benefit to the
Company and has determined to make such investment on behalf of the
Company.

       

      4.           That
the undersigned has due authority to make such investment decision on behalf of
the Company.

       

      IN
WITNESS WHEREOF, I have executed this Certificate as the Manager of the Company
as of the __ day of May, 2009, and declare that it is correct.

      

      ____________________________________

      (Limited
Liability Company Name)

      

      By:__________________________________

      Manager

      PLEASE
ATTACH A COPY OF THE CHARTER AND THE OPERATING AGREEMENT OF 

      THE
LIMITED LIABILITY COMPANY AND ANY AMENDMENTS THERETO.

       

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

       

      SCHEDULES
AND EXHIBITS TO THE SUBSCRIPTION AGREEMENT

      

      
        
          	
                  Exhibit
      1:

                	
                  Form
      of Class F Warrants

                
	
                  Exhibit
      2:

                	
                  Form
      of Class G Warrants

                
	
                  Exhibit
      3:

                	
                  Form
      of Certificate of Designation of Series B Stock

                
	
                  Exhibit
      4:

                	
                  Capitalization
      TableVoid
      after June 3, 2014

              	
                Warrant
      No.
      F-__                                   

              

      

    

    

    
      This
Warrant and any shares acquired upon the exercise of this Warrant have not been
registered under the Securities Act of 1933.  This Warrant and such
shares may not be sold or transferred in the absence of such registration or an
exemption therefrom under said Act.  This Warrant and such shares may
not be transferred except upon the conditions specified in this Warrant, and no
transfer of this Warrant or such shares shall be valid or effective unless and
until such conditions shall have been complied with.

    

    

    BBM
HOLDINGS, INC.

    

    CLASS F
REDEEMABLE PURCHASE WARRANT

    

    BBM,
Inc., a Utah corporation (the “Company”), having its
principal office at 1245 Brickyard Rd., #590, Salt Lake City,
Utah  84106, hereby certifies that, for value received, ___________,
or assigns, is entitled, subject to the terms set forth below, to purchase from
the Company at any time on or from time to time after the Commencement Date (as
defined below) and before 5:00 P.M., New York City time, on June 3, 2014, or as
extended in accordance with the terms hereof (the “Expiration Date”),
______ fully paid and non-assessable shares of Common Stock of the Company, at
the initial Purchase Price per share (as defined below) of $0.18.  The
number and character of such shares of Common Stock and the Purchase Price per
share

     

    Background. The
Company agreed to issue warrants to purchase an aggregate of up to __________
shares of Common Stock (subject to adjustment as provided herein) (the “Warrants”), in
connection with a private placement pursuant to the Unit Subscription Agreement
dated May 31, 2009 (the “Subscription
Agreement”) between the Company and the investors party thereto (the
“Offering”).

     

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

     

    “Additional Assets”
has the meaning set forth in Section 7.

     

    “Common Stock” shall
mean stock of the Company of any class (however designated) whether now or
hereafter authorized, which generally has the right to participate in the voting
and in the distribution of earnings and assets of the Company without limit as
to amount or percentage, which as of the date of this Warrant shall mean the
Company’s Common Stock, no par value per share.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     “Company” includes the
Company and any corporation which shall succeed to or assume the obligations of
the Company hereunder. The term “corporation” shall
include an association, joint stock company, business trust, limited liability
company or other similar organization.

     

    “Commencement Date”
means the later of the effective date of the Merger and six months after the
Original Issue Date.

     

    “Convertible
Securities” means (i) options to purchase or rights to subscribe for
Common Stock, (ii) securities by their terms convertible into or exchangeable
for Common Stock or (iii) options to purchase or rights to subscribe for such
convertible or exchangeable securities.

     

    “Exchange Act” means
the Securities Exchange Act of 1934 as the same shall be in effect at the
time.

     

    “Excluded Stock” shall
mean (i) all shares of Common Stock issued or issuable to employees, directors
or consultants pursuant to any equity compensation plan that is in effect on the
date of this Warrant, (ii) all shares of Common Stock issued or issuable to
employees or directors pursuant to any equity compensation plan approved by the
stockholders of the Company after the date of this Warrant, (iii) all shares of
Common Stock issued or issuable to employees, directors or consultants as bona
fide compensation for business services rendered, not compensation for
fundraising activities, (iv) all shares of Common Stock issued or issuable to
bona fide leasing companies, strategic partners, or major lenders, (v) all
shares of Common Stock issued or issuable as the purchase price in a bona fide
acquisition or merger (including reasonable fees paid in connection therewith)
or (vi) all Warrant Shares (as defined in the Subscription Agreement),
Additional Warrants (as defined in the Subscription Agreement) and shares issued
upon conversion or exercise of other Convertible Securities outstanding on the
date hereof.

     

    “Fair Market Value” of
assets or securities (other than Common Stock) shall mean the fair market value
as reasonably determined by the Board of Directors of the Company in good faith
in accordance with generally accepted accounting principles.

     

    “Holder” means any
record owner of Warrants or Underlying Securities.

     

    “Market Price” at any
date shall be deemed to be (i) if the principal trading market for such
securities is The Nasdaq SmallCap Market or another exchange, the high reported
sale prices per share of Common Stock on the date immediately before the date of
determination, (ii) if the principal market for the Common Stock is the
over-the-counter market, the average of the high reported sale prices per share
on such trading day as set forth by such market or, (iii) if the Common Stock is
not quoted by such over-the-counter market, the average of the average of the
mean of the bid and asking prices per share on such trading day as set forth in
the National Quotation Bureau sheet listing such securities for such
day.  Notwithstanding the foregoing, if there is no reported high sale
price, as the case may be, reported on the trading day preceding the event
requiring a determination of Market Price hereunder, then the Market Price shall
be the average of the high bid and asked prices for such day; and if there is no
reported high bid and asked prices, as the case may be, reported on the trading
day preceding the event requiring a determination of Market Price hereunder,
then the Market Price shall be determined in good faith by resolution of the
Board of Directors of the Company, based on the best information available to it
or in the event of a dispute of the determination of the Board of Directors of
the Company provided in clause (b) above, by arbitration in accordance with the
rules then standing of the American Arbitration Association, before a single
arbitrator to be chosen by the Company and reasonably acceptable to a majority
in interest of the holders of Warrants from a panel of persons qualified by
education and training to pass on the matter to be decided.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    “Merger” has the
meaning set forth in the Subscription Agreement.

     

    “New Purchase Price”
has the meaning set forth in Section 7.

     

    “Offering” has the
meaning set forth in the Background of this Warrant.

     

    “Options” means
rights, warrants or options to subscribe for, purchase or otherwise acquire
Common Stock.

     

    “Original Issue Date”
means June 3, 2009.

     

    “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 Holders of the
Warrants at any time shall be entitled to receive, or shall have received, upon
the exercise of the Warrants, 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 6 or
otherwise.

     

    “Purchase Price per
share” means $0.18 per share, as adjusted from time to time in accordance
with the terms hereof.

     

    “Ratchet Issuance” has
the meaning set forth in Section 7.

     

    “Registered” and
“registration”
refer to a registration effected by filing a registration statement in
compliance with the Securities Act, to permit the disposition of Common Stock
(or Other Securities) issued or issuable upon the exercise of Warrants, and any
post-effective amendments and supplements filed or required to be filed to
permit any such disposition.

     

    “Securities Act” means
the Securities Act of 1933 as the same shall be in effect at the
time.

     

    “Underlying
Securities” means any Common Stock or Other Securities issued or issuable
upon exercise of Warrants.

     

     “Warrant” means, as
applicable, this Warrant or each right as set forth in this Warrant to purchase
one share of Common Stock, as adjusted.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    1.           Registration,
etc.  The Holder shall have the rights to registration of
Underlying Securities issuable upon exercise of the Warrants that are set forth
in the Subscription Agreement.

     

    2.           Sale or Exercise Without
Registration.  If, at the time of any exercise, transfer or
surrender for exchange of a Warrant or of Underlying Securities previously
issued upon the exercise of Warrants, such Warrant or Underlying Securities
shall not be registered under the Securities Act, the Company may require, as a
condition of allowing such exercise, transfer or exchange, that the Holder or
transferee of such Warrant or Underlying Securities, as the case may be, furnish
to the Company an opinion of counsel, reasonably satisfactory to the Company, to
the effect that such exercise, transfer or exchange may be made without
registration under the Securities Act, provided that the disposition thereof
shall at all times be within the control of such Holder or transferee, as the
case may be, and provided further that nothing contained in this Section 2 shall
relieve the Company from complying with its obligations concerning registration
of Underlying Securities pursuant to the Subscription Agreement.

     

    3.           Exercise
of Warrant.

     

    3.1.           Exercise in
Full.  Subject to the provisions hereof, this Warrant may be
exercised in full by the Holder hereof by surrender of this Warrant, with the
form of subscription at the end hereof duly executed by such Holder, to the
Company at its principal office accompanied by payment, in cash or by certified
or official bank check payable to the order of the Company, in the amount
obtained by multiplying the number of shares of Common Stock issuable upon
exercise of this Warrant by the Purchase Price per share, after giving effect to
all adjustments through the date of exercise.

     

    3.2.           Partial
Exercise.  Subject to the provisions hereof, this Warrant may
be exercised in part by surrender of this Warrant in the manner and at the place
provided in Section 3.1 except that the amount payable by the Holder upon any
partial exercise shall be the amount obtained by multiplying (a) the number of
shares of Common Stock (without giving effect to any adjustment therein)
designated by the Holder in the subscription at the end hereof by (b) the
Purchase Price per share.  Upon any such partial exercise, the Company
at its expense will forthwith issue and deliver to or upon the order of the
Holder hereof a new Warrant or Warrants of like tenor, in the name of the Holder
hereof or as such Holder (upon payment by such Holder of any applicable transfer
taxes) may request, calling in the aggregate on the face or faces thereof for
the number of shares of Common Stock equal (without giving effect to any
adjustment therein) to the number of such shares called for on the face of this
Warrant minus the number of such shares designated by the Holder in the
subscription at the end hereof.

     

    3.3.           Company to Reaffirm
Obligations.  The Company will, at the time of any exercise of
this Warrant, upon the request of the Holder hereof, acknowledge in writing its
continuing obligation to afford to such Holder any rights (including, without
limitation, any right to registration of the Underlying Securities) to which
such Holder shall continue to be entitled after such exercise in accordance with
the provisions of this Warrant, provided that if the
Holder of this Warrant shall fail to make any such request, such failure shall
not affect the continuing obligation of the Company to afford such Holder any
such rights.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    3.4.           Certain
Exercises.  If an exercise of a Warrant or Warrants is to be
made in connection with a registered public offering or sale of the Company,
such exercise may, at the election of the Holder, be conditioned on the
consummation of the public offering or sale of the Company, in which case such
exercise shall not be deemed effective until the consummation of such
transaction.

     

    4.           Delivery of Stock
Certificates, etc., on Exercise.  As soon as practicable after
the exercise of this Warrant in full or in part, and in any event within three
business days after delivery or surrender of all documents and instruments
required to be delivered or surrendered to the Company for such exercise,
including payment of the exercise price in cash or securities in accordance with
this Warrant, the Company at its own 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 hereof, or as such Holder (upon payment by such Holder of any
applicable transfer taxes) may direct, a certificate or certificates for the
number of fully paid and non-assessable shares of Common Stock or Other
Securities to which such Holder shall be entitled upon 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 current Market Price 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 5 or otherwise.

     

    5.           Adjustment for Dividends in
Other Stock, Property, etc.; Reclassification, etc.  In case at
any time or from time to time after the Original Issue Date the holders of
Common Stock (or, if applicable, Other Securities) shall have received, or (on
or after the record date fixed for the determination of stockholders eligible to
receive) shall have become entitled to receive, without payment
therefor:

     

    (a)           other
or additional stock or other securities or property (other than cash) by way of
dividend, or

     

    (b)           any
cash paid or payable (including, without limitation, by way of dividend),
or

     

    (c)           other
or additional stock or other securities or property (including cash) by way of
spin-off, split-up, reclassification, recapitalization, combination of shares or
similar corporate rearrangement,

     

    then, and
in each such case the Holder of this Warrant, upon the exercise hereof as
provided in Section 3, shall be entitled to receive the amount of stock and
other securities and property (including cash in the cases referred to in
subdivisions (b) and (c) of this Section 5 which such Holder would hold on the
date of such exercise if on the Original Issue Date such Holder had been the
Holder of record of the number of shares of Common Stock called for on the face
of this Warrant and had thereafter, during the period from the Original Issue
Date to and including the date of such exercise, retained such shares and all
such other or additional stock and other securities and property (including cash
in the cases referred to in subdivisions (b) and (c) of this Section 5
receivable by such Holder as aforesaid) during such period, giving effect to all
adjustments called for during such period by Sections 6 and 7
hereof.  If the number of shares of Common Stock outstanding at any
time after the date hereof is decreased by a combination or reverse stock split
of the outstanding shares of Common Stock, the Purchase Price per share shall be
increased, and the number of shares of Common Stock purchasable under this
Warrant shall be decreased in proportion to such decrease in outstanding shares
of Common Stock.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    6.           Reorganization,
Consolidation, Merger, etc.  In case the Company after the
Original Issue Date shall (a) effect a reorganization, (b) consolidate with or
merge into any other person or (c) 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, then, in each such case, the
Holder of this Warrant, upon the exercise hereof as provided in Section 3 at any
time after the consummation of such reorganization, consolidation or merger or
the effective date of such dissolution, as the case may be, shall be entitled to
receive (and the Company shall be entitled to deliver), in lieu of the
Underlying Securities issuable upon such exercise prior to such consummation or
such effective date, the stock and other securities and property (including
cash) to which such Holder would have been entitled upon such consummation or in
connection with such dissolution, as the case may be, if such Holder had so
exercised this Warrant immediately prior thereto, all subject to further
adjustment thereafter as provided in Sections 5 and 7 hereof. The Company shall
not effect any such reorganization, consolidation, merger or sale, unless prior
to or simultaneously with the consummation thereof, the successor corporation
resulting from such consolidation or merger or the corporation purchasing such
assets or the appropriate corporation or entity shall assume, by written
instrument, the obligation to deliver to each Holder the shares of stock, cash,
other securities or assets to which, in accordance with the foregoing
provisions, each Holder may be entitled to and all other obligations of the
Company under this Warrant. In any such case, if necessary, the provisions set
forth in this Section 6 with respect to the rights thereafter of the Holders
shall be appropriately adjusted so as to be applicable, as nearly as may
reasonably be, to any Other Securities or assets thereafter deliverable on the
exercise of the Warrants.

     

    7.           Other
Adjustments.

     

    7.1.           General.  Other
than as set forth in Sections 5 and 6, if, on or before the second anniversary
of the Original Issue Date, the Company shall issue any Common Stock other than
Excluded Stock for a consideration per share (determined as set forth below)
less than the Purchase Price per share in effect immediately prior to the
issuance of such Common Stock (the “Ratchet Issuance”),
the Purchase Price per share in effect immediately prior to each issuance shall
forthwith be reduced to a new Purchase Price per share determined by dividing
(x) the sum of (I) the consideration received by the Company in such issue less
(II) the Fair Market Value of any securities or other assets transferred by the
Company in units or otherwise together with such Common Stock (“Additional Assets”),
by (y) the number of shares of Common Stock (not including shares issuable upon
conversion or exercise of Additional Assets) issued in the Ratchet Issuance (the
“New Purchase
Price”).

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    7.2.           
Convertible
Securities.  (a)  In case the Company shall issue or
sell any Convertible Securities (including without limitation Additional
Assets), other than Excluded Stock, there shall be determined the price per
share for which Common Stock is issuable upon the conversion or exchange
thereof, such determination to be made by dividing (i) the total amount received
or receivable by the Company as consideration for the issue or sale of such
Convertible Securities, plus the then current aggregate amount of additional
consideration, if any, payable to the Company upon the conversion or exchange
thereof, by (ii) the maximum number of shares of Common Stock of the Company
issuable upon the conversion or exchange of all of such Convertible
Securities.

     

    (b)           If
the price per share so determined shall be less than the applicable Purchase
Price per share, then such issue or sale shall be deemed to be an issue or sale
for cash (as of the date of issue or sale of such Convertible Securities) of
such maximum number of shares of Common Stock at the price per share so
determined, provided that, if such Convertible Securities shall by their terms
provide for an increase or increases or decrease or decreases, with the passage
of time, in the amount of additional consideration, if any, to the Company, or
in the rate of exchange, upon the conversion or exchange thereof, the adjusted
Purchase Price per share shall, forthwith upon any such increase or decrease
becoming effective, be readjusted to reflect the same, and provided further,
that upon the expiration of such rights of conversion or exchange of such
Convertible Securities, if any thereof shall not have been exercised, the
adjusted Purchase Price per share shall forthwith be readjusted and thereafter
be the price which it would have been had an adjustment been made on the basis
that the only shares of Common Stock so issued or sold were issued or sold upon
the conversion or exchange of such Convertible Securities, and that they were
issued or sold for the consideration actually received by the Company upon such
conversion or exchange, plus the consideration, if any, actually received by the
Company for the issue or sale of all of such Convertible Securities which shall
have been converted or exchanged.

     

    7.3.           Rights and
Options.  (a)  In case the Company shall grant any
rights or options to subscribe for, purchase or otherwise acquire Common Stock,
other than Excluded Stock, there shall be determined the price per share for
which Common Stock is issuable upon the exercise of such rights or options, such
determination to be made by dividing (i) the total amount, if any, received or
receivable by the Company as consideration for the granting of such rights or
options, plus the then current amount of additional consideration payable to the
Company upon the exercise of such rights or options, by (ii) the maximum number
of shares of Common Stock of the Company issuable upon the exercise of such
rights or options.

     

    (b)           If
the price per share so determined shall be less than the applicable Purchase
Price per share, then the granting of such rights or options shall be deemed to
be an issue or sale for cash (as of the date of the granting of such rights or
options) of such maximum number of shares of Common Stock at the price per share
so determined, provided that, if such rights or options shall by their terms
provide for an increase or increases or decrease or decreases, with the passage
of time, in the amount of additional consideration payable to the Company upon
the exercise thereof, the adjusted Purchase Price per share shall, forthwith
upon any such increase or decrease becoming effective, be readjusted to reflect
the same, and provided, further, that upon the expiration of such rights or
options, if any thereof shall not have been exercised, the adjusted Purchase
Price per share shall forthwith be readjusted and thereafter be the price which
it would have been had an adjustment been made on the basis that the only shares
of Common Stock so issued or sold were those issued or sold upon the exercise of
such rights or options and that they were issued or sold for the consideration
actually received by the Company upon such exercise, plus the consideration, if
any, actually received by the Company for the granting of all such rights or
options, whether or not exercised.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    7.4.           Other Securities. If
any event occurs as to which the provisions of this Warrant are strictly
applicable and the application thereof would not fairly protect the rights of
the Holders in accordance with the essential intent and principles of such
provisions, then the Company shall make such adjustments in the application of
such provisions, in accordance with such essential intent and principles, as the
Board of Directors, in good faith, determines to be reasonably necessary to
protect such rights as aforesaid.  In case at any time or from time to
time the Company shall take any action in respect of its Common Stock, other
than any action described in Sections 5, 6 and 7, then, unless such action will
not have a materially adverse effect upon the rights of the Holders, the number
of shares of Common Stock or other stock for which this Warrant is exercisable
and the Purchase Price per share shall be adjusted in such manner as the Board
of Directors, in good faith, determines to be equitable in the
circumstances.  In furtherance and not in limitation of the foregoing,
if any event occurs of the type contemplated by Section 7 but not expressly
provided for by such Section (including, without limitation, the granting of
stock appreciation rights, phantom stock rights or other rights or arrangements
with equity features), then the Company’s Board of Directors shall make an
appropriate adjustment in the Purchase Price per share and the number of shares
of Common Stock or Other Securities issuable upon the exercise of a Warrant so
as to protect the rights of the Holders of such Warrants.  No
adjustment made pursuant to this Section 7 shall increase the Purchase Price per
share or decrease the number of shares of Common Stock or Other Securities
issuable upon exercise of the Warrants.

     

    8.           Further
Assurances.  The Company will take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue
fully paid and non-assessable shares of stock upon the exercise of all Warrants
from time to time outstanding.

     

    9.           Officer’s Certificate as to
Adjustments.  In each case of any adjustment or readjustment in
the shares of Common Stock (or Other Securities) issuable upon the exercise of
the Warrants, the Company at its expense will promptly cause its Chief Financial
Officer to compute such adjustment or readjustment in accordance with the terms
of the Warrants and prepare a certificate setting forth such adjustment or
readjustment and showing in detail the facts upon which such adjustment or
readjustment is based, and the number of shares of Common Stock outstanding or
deemed to be outstanding, 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 Purchase 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 such
certificate to each Holder.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    10.           Notices of Record Date,
etc.  In the event of

     

    (a)           any
taking by the Company of a record of its stockholders for the purpose of
determining the stockholders thereof who are entitled to receive any dividend or
other distribution, or any right to subscribe for, purchase or otherwise acquire
any shares of stock of any class or any other securities or property, or to
receive any other right, or for the purpose of determining stockholders who are
entitled to vote in connection with any proposed capital reorganization of the
Company, any reclassification or recapitalization of the capital stock of the
Company or any transfer of all or substantially all the assets of the Company to
or consolidation or merger of the Company with or into any other person,
or

     

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

     

    (c)           any
proposed issue or grant by the Company of any Common Stock, Convertible
Securities or any other securities, or any right or option to subscribe for,
purchase or otherwise acquire any shares of stock of any class or any other
securities (other than the issue of Common Stock on the exercise of the
Warrants),

     

    then and
in each such event the Company will mail or cause to be mailed to each Holder of
a Warrant a notice specifying (i) the date on which any such record is to be
taken for the purpose of such dividend, distribution or right, and stating the
amount and character of such dividend, distribution or right, (ii) the date on
which any such reorganization, reclassification, recapitalization, transfer,
consolidation, merger, dissolution, liquidation or winding-up is to take place,
and the time, if any, as of which the Holders of record of Underlying Securities
shall be entitled to exchange their shares of Underlying Securities for
securities or other property deliverable upon such reorganization,
reclassification, recapitalization, transfer, consolidation, merger,
dissolution, liquidation or winding-up and (iii) the amount and character of any
stock or other securities, or rights or options with respect thereto, proposed
to be issued or granted, the date of such proposed issue or grant and the
persons or class of persons to whom such proposed issue or grant and the persons
or class of persons to whom such proposed issue or grant is to be offered or
made.  Such notice shall be mailed at least 20 days prior to the date
therein specified.

     

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

     

    12.           Listing on Securities
Exchanges; Registration; Issuance of Certain Securities.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    12.1.                      In
furtherance and not in limitation of any other provision of this Warrant, during
any period of time in which the Company’s Common Stock is listed on The Nasdaq
SmallCap Market or any other national securities exchange, the Company will, at
its expense, simultaneously list on The Nasdaq SmallCap Market or such exchange,
upon official notice of issuance upon the exercise of the Warrants, and maintain
such listing, all shares of Common Stock from time to time issuable upon the
exercise of the Warrants; and the Company will so list on The Nasdaq SmallCap
Market or any other national securities exchange, will so register and will
maintain such listing of, any Other Securities if and at the time that any
securities of like class or similar type shall be listed on The Nasdaq SmallCap
Market or any other national securities exchange by the Company.

     

    12.2.                      Until
the shares issuable upon exercise of this Warrant have been resold publicly
pursuant to a registration statement or under Rule 144, the Company shall not
issue any (a) Convertible Securities or similar securities that contain a
provision that provides for any change or determination of the applicable
conversion price, conversion rate, or exercise price (or a similar provision
which might have a similar effect) based on the Market Price or any other
determination of the market price or value of the Company’s securities or any
other market based or contingent standard, such as so-called “toxic” or “death
spiral” convertible securities; provided, however, that this prohibition shall
not include Convertible Securities or similar securities the conversion or
exercise price or conversion rate of which is fixed on the date of issuance or
subject to adjustment based upon the issuance by the Company of additional
securities, including without limitation, standard anti-dilution adjustment
provisions which are not based on calculations of the Market Price or other
variable valuations; and provided, further, that in no event shall this
provision be deemed to prohibit the transactions contemplated in the Offering;
or (b) any preferred stock, debt instruments or similar securities or investment
instruments providing for (i) preferences or other payments substantially in
excess of the original investment by purchasers thereof or (ii) dividends,
interest or similar payments other than dividends, interest or similar payments
computed on an annual basis and not in excess, directly or indirectly, of the
lesser of a rate equal to (A) twice the interest rate on 10 year US Treasury
Notes and (B) 20%.

    

    13.           Exchange of
Warrants.  Subject to the provisions of Section 2 hereof, upon
surrender for exchange of any Warrant, properly endorsed, to the Company, as
soon as practicable (and in any event within three business days) the Company at
its own expense will issue and deliver to or upon the order of the Holder
thereof a new Warrant or Warrants of like tenor, in the name of such Holder or
as such Holder (upon payment by such Holder of any applicable transfer taxes)
may direct, 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 or
Warrants so surrendered.

     

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

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    15.           Warrant
Agent.  The Company may, by written notice to each Holder of a
Warrant, appoint an agent (the “Warrant Agent”)
having an office in New York, New York, for the purpose of issuing Common Stock
(or Other Securities) upon the exercise of the Warrants pursuant to Section 3,
exchanging Warrants pursuant to Section 13, replacing Warrants pursuant to
Section 14, redeeming Warrants pursuant to Section 22, 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.

     

    16.           Remedies.  The
Company stipulates that the remedies at law of the Holder of this Warrant in the
event of any default or threatened default by the Company in the performance of
or compliance with any of the terms of this Warrant are not and will not be
adequate, and that such terms may be specifically enforced by a decree for the
specific performance of any agreement contained herein or by an injunction
against a violation of any of the terms hereof or otherwise.

     

    17.           Negotiability,
etc.  Subject to Section 2 above, this Warrant is issued upon
the following terms, to all of which each Holder or owner hereof by the taking
hereof consents and agrees:

     

    (a)           subject
to the provisions hereof, title to this Warrant may be transferred by
endorsement (by the Holder hereof executing the form of assignment at the end
hereof) and delivery in the same manner as in the case of a negotiable
instrument transferable by endorsement and delivery;

     

    

    (b)           subject
to the foregoing, any person in possession of this Warrant properly endorsed is
authorized to represent himself as absolute owner hereof and is empowered to
transfer absolute title hereto by endorsement and delivery hereof to a bona fide
purchaser hereof for value; each prior taker or owner waives and renounces all
of his equities or rights in this Warrant in favor of each such bona fide
purchaser and each such bona fide purchaser shall acquire absolute title hereto
and to all rights represented hereby; and

     

    (c)           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.

     

    18.           Notices,
etc.  All notices and other communications from the Company to
the Holder of this Warrant 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 an address is so furnished, to
and at the address of the last Holder of this Warrant who has so furnished an
address to the Company.

     

    19.           Miscellaneous.  This
Warrant and any term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the Company and the Holders of
outstanding Warrants to purchase a majority of the shares of Common Stock
underlying all the outstanding Warrants.  This Warrant is being
delivered in the State of New York and shall be construed and enforced in
accordance with and governed by the laws of such State.  The headings
in this Warrant are for purposes of reference only, and shall not limit or
otherwise affect any of the terms hereof.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    20.           Assignability.  Subject
to Section 2 hereof, this Warrant is fully assignable at any time.

     

    21.           Amendments.  This
Warrant may not be amended, modified or terminated, and no rights or provisions
may be waived, except with (a) the written consent of the Holder and the Company
or (b) in the event that all Warrants issued under the Unit Subscription
Agreement are to be amended in like fashion, a majority in interest of the
holders of all such Warrants and the Company.

     

    22.           Redemption Of
Warrant.

     

    22.1.  
Redemption
Price. Warrants may be redeemed at the option of the Company, beginning
six months after the Original Issue Date following a period of 10 consecutive
trading days where the Market Price of the Common Stock exceeds $0.54, on notice
as set forth in Section 22.2 , and at a redemption price equal to $.01 per
Warrant.

     

    22.2.  
Notice of
Redemption.  In the case of any redemption of Warrants, the
Company or a Warrant Agent in the name of and at the expense of the Company
shall give notice of such redemption to the holders of the Warrants to be
redeemed as hereinafter provided in this Section 22.2. Notice of redemption to
the holders of Warrants shall be given by mailing by first-class mail a notice
of such redemption within 10 business days following the 10 consecutive trading
day period referenced in Section 22.1 and not less than 30 days prior to the
date fixed for redemption.  Any notice which is given in the manner
herein provided shall be conclusively presumed to have been duly given, whether
or not the holder receives the notice.  In any case, failure duly to
give such notice, or any defect in such notice, to the holder of any Warrant
shall not affect the validity of the proceedings for the redemption of Warrants
represented by any other Warrant.  Each such notice shall specify the
date fixed for redemption, the place of redemption and the redemption price of
$.01 at which each Warrant is to be redeemed, and shall state that payment of
the redemption price of the Warrants will be made on surrender of the Warrants
at such place of redemption, and that if not exercised by the close of business
on the date fixed for redemption, the exercise rights of the Warrants identified
for redemption shall expire unless extended by the Company.  Such
notice shall also state the current Exercise Price and the date on which the
right to exercise the Warrants will expire unless extended by the
Company.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    22.3.  
Payment of Warrants on
Redemption; Deposit of Redemption Price.  If notice of
redemption shall have been given as provided in Section 22.2, the redemption
price of $.01 per Warrant shall, unless the Warrant is theretofore exercised
pursuant to the terms hereof, become due and payable on the date and at the
place stated in such notice.  On and after such date of redemption,
provided that cash sufficient for the redemption thereof shall then be deposited
by the Company with the Warrant Agent or a bank located in New York having more
than $250,000,000 in assets for that purpose, the exercise rights of the
Warrants identified for redemption shall expire.  On presentation and
surrender of Warrants at such place of payment in such notice specified, the
Warrants identified for redemption shall be paid and redeemed at the redemption
price of $.01 per Warrant. Prior to the date fixed for redemption, the Company
shall deposit with the Warrant Agent an amount of money sufficient to pay the
redemption price of all the Warrants identified for redemption.  Any
monies which shall have been deposited with the Warrant Agent or such bank for
redemption of Warrants and which are not required for that purpose by reason of
exercise of Warrants shall be repaid to the Company upon delivery to the Warrant
Agent or such bank of evidence satisfactory to it of such exercise.

    

    Dated:
May ___, 2009

    

    
      
        
          	
                  BBM
      HOLDINGS, INC.

                
	 
      	 
      
	 
      	 
      
	
                  By:

                	
                   

                
	
                  Name:

                
	
                  Title:

                

        

      

    

    

    Attest:                                                                

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    FORM OF
SUBSCRIPTION

     

    (To be
signed only upon exercise of Warrant)

    

    To: BBM
Holdings, Inc.

     

    The
undersigned, the Holder of the within Warrant, hereby irrevocably elects to
exercise the purchase right represented by such Warrant for, and to purchase
thereunder, shares of Common Stock of BBM Holdings, Inc., and herewith makes
payment therefor:

     

    (i) of
$          *    or

     

    (ii) by surrender of the
number of Warrants included in the within Warrant required for full
exercise pursuant to Section 3.3 of the Warrant,

     

    and
requests that the certificates for such shares be issued in the name of, and
delivered to, ___________________, whose address is
_______________________.

     

    Dated:

    

    
      
        
          
            
              	 
      
	
                      (Signature
      must conform in all respects to name of

                      Holder
      as specified on the face of the Warrant)

                    
	 
      
	 
      
	
                      (Address)

                    

            

          

        

      

    

    

    
      	
              *

            	
              Insert
      here the number of shares called for on the face of the Warrant (or, in
      the case of a partial exercise, the portion thereof as to which the
      Warrant is being exercised), in either case without making any adjustment
      for additional Common Stock or any other stock or other securities or
      property or cash which, pursuant to the adjustment provisions of the
      Warrant, may be deliverable upon
exercise.

            

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    

    
      FORM OF
ASSIGNMENT

    

    

    
      (To be
signed only upon transfer of Warrant)

    

    

    For value received, the undersigned
hereby sells, assigns and transfers unto _________________________ the right
represented by the within Warrant to purchase _________ of Common Stock of BBM
Holdings, Inc.  to which the within Warrant relates, and appoints
______________________________ Attorney to transfer such right on the books of
BBM Holdings, Inc. with full power of substitution in the
premises.  The Warrant being transferred hereby is one of the Warrants
issued by BBM Holdings, Inc. as of _________, 2009 to purchase an aggregate of
up to _________ shares of Common Stock.

    

    Dated:_______________

    

    
      
        
          
            	 
      
	
                    (Signature
      must conform in all respects to name of

                    Holder
      as specified on the face of the Warrant)

                  
	 
      
	 
      
	 
      
	
                    (Address)

                  

          

        

      

    

    

    
      
        
          	 
      
	
                  Signature
      guaranteed by a Bank

                
	
                  or
      Trust Company having its

                
	
                  principal
      office in New York City

                
	
                  or
      by a Member Firm of the New

                
	
                  York
      or American Stock
Exchange

                

        

      

    

    
      
         

      

      
        15

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