Document:

Exhibit 10.4 

    EXHIBIT
      F

    

    SUBSIDIARY
      GUARANTEE

    

    SUBSIDIARY
      GUARANTEE, dated as of February 29, 2008 (this “Guarantee”),
      made
      by each of the signatories hereto (together with any other entity that
      may become a party hereto as provided herein, the “Guarantors”),
      in
      favor of the purchasers signatory (the “Purchasers”)
      to
      that certain Securities Purchase Agreement, dated as of the date hereof,
      between Fearless International, Inc., a Nevada corporation (the “Company”)
      and
      the Purchasers. 

    

    W
      I T N E S S E T H:

    

    WHEREAS,
      pursuant to that certain Securities Purchase Agreement, dated as of the date
      hereof, by and between the Company and the Purchasers (the “Purchase
      Agreement”),
      the
      Company has agreed to sell and issue to the Purchasers, and the Purchasers
      have
      agreed to purchase from the Company the 9%
      Senior
      Secured Convertible Debentures due February ___, 2011 and issued on February
      ___, 2008 in the original aggregate principal amount of $___________
      (collectively, the “Debentures”),
      subject
      to the terms and conditions set forth therein; and

    

    WHEREAS,
      each Guarantor will directly benefit from the extension of credit to the Company
      represented by the issuance of the Debentures; and 

     

    NOW,
      THEREFORE, in consideration of the premises and to induce the Purchasers to
      enter into the Purchase Agreement and to carry out the transactions contemplated
      thereby, each Guarantor hereby agrees with the Purchasers as
      follows:

     

    1. Definitions.
      Unless
      otherwise defined herein, terms defined in the Purchase Agreement and used
      herein shall have the meanings given to them in the Purchase Agreement. The
      words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import
      when used in this Guarantee shall refer to this Guarantee as a whole and not
      to
      any particular provision of this Guarantee, and Section and Schedule references
      are to this Guarantee unless otherwise specified. The meanings given to terms
      defined herein shall be equally applicable to both the singular and plural
      forms
      of such terms. The following terms shall have the following
      meanings:

    

    “Guarantee”
means
      this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise
      modified from time to time.

    

    “Obligations”
means,
      in addition to all other costs and expenses of collection incurred by Purchasers
      in enforcing any of such Obligations and/or this Guarantee, all
      of
      the liabilities
      and obligations (primary, secondary, direct, contingent, sole, joint or several)
      due or to become due, or that are now or may be hereafter contracted or
      acquired, or owing to, of any Debtor to the Secured Parties, arising
      under
      this Agreement, the Debentures, this Guarantee and any 

    
      
        
        

      

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    other
      instruments, agreements or other documents executed and/or delivered in
      connection herewith or therewith, in each case, whether now or hereafter
      existing, voluntary or involuntary, direct or indirect, absolute or contingent,
      liquidated or unliquidated, whether or not jointly owed with others, and whether
      or not from time to time decreased or extinguished and later increased, created
      or incurred, and all or any portion of such obligations or liabilities that
      are
      paid, to the extent all or any part of such payment is avoided or recovered
      directly or indirectly from any of the Secured Parties as a preference,
      fraudulent transfer or otherwise as such obligations may be amended,
      supplemented, converted, extended or modified from time to time. Without
      limiting the generality of the foregoing, the term “Obligations” shall include,
      without limitation: (i) principal of, and interest on the Debentures and the
      loans extended pursuant thereto; (ii) any and all other fees, indemnities,
      costs, obligations and liabilities of the Debtors from time to time under or
      in
      connection with this Agreement, the Debentures, the Guarantee and any other
      instruments, agreements or other documents executed and/or delivered in
      connection herewith or therewith; and (iii) all amounts (including but not
      limited to post-petition interest) in respect of the foregoing that would be
      payable but for the fact that the obligations to pay such amounts are
      unenforceable or not allowable due to the existence of a bankruptcy,
      reorganization or similar proceeding involving any Debtor. 

     

    2. Guarantee.

    

    (a) Guarantee.

     

    
      	 	
              (i)

            	
              The
                Guarantors hereby, jointly and severally, unconditionally and irrevocably,
                guarantee to the Purchasers and their respective successors, indorsees,
                transferees and assigns, the prompt and complete payment and performance
                by the Company when due (whether at the stated maturity, by acceleration
                or otherwise) of the Obligations. 

            

    

     

    
      	 	
              (ii)

            	
              Anything
                herein or in any other Transaction Document to the contrary
                notwithstanding, the maximum liability of each Guarantor hereunder
                and
                under the other Transaction Documents shall in no event exceed the
                amount
                which can be guaranteed by such Guarantor under applicable federal
                and
                state laws, including laws relating to the insolvency of debtors,
                fraudulent conveyance or transfer or laws affecting the rights of
                creditors generally (after giving effect to the right of contribution
                established in Section 2(b)). 

            

    

    

    
      	 	
              (iii)

            	
              Each
                Guarantor agrees that the Obligations may at any time and from time
                to
                time exceed the amount of the liability of such Guarantor hereunder
                without impairing the guarantee

            

    

    
      
        
        

      

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    contained
      in this Section 2 or affecting the rights and remedies of the Purchasers
      hereunder.

    

    
      	 	
              (iv)

            	
              The
                guarantee contained in this Section 2 shall remain in full force
                and
                effect until all the Obligations and the obligations of each Guarantor
                under the guarantee contained in this Section 2 shall have been satisfied
                by payment in full. 

            

    

    

    
      	 	
              (v)

            	
              No
                payment made by the Company, any of the Guarantors, any other guarantor
                or
                any other Person or received or collected by the Purchasers from
                the
                Company, any of the Guarantors, any other guarantor or any other
                Person by
                virtue of any action or proceeding or any set-off or appropriation
                or
                application at any time or from time to time in reduction of or in
                payment
                of the Obligations shall be deemed to modify, reduce, release or
                otherwise
                affect the liability of any Guarantor hereunder which shall,
                notwithstanding any such payment (other than any payment made by
                such
                Guarantor in respect of the Obligations or any payment received or
                collected from such Guarantor in respect of the Obligations), remain
                liable for the Obligations up to the maximum liability of such Guarantor
                hereunder until the Obligations are paid in
                full.

            

    

    

    
      	 	
              (vi)

            	
              Notwithstanding
                anything to the contrary in this Agreement, with respect to any defaulted
                non-monetary Obligations the specific performance of which by the
                Guarantors is not reasonably possible (e.g. the issuance of the Company's
                Common Stock), the Guarantors shall only be liable for making the
                Purchasers whole on a monetary basis for the Company's failure to
                perform
                such Obligations in accordance with the Transaction Documents.
                

            

    

    

    (b) Right
      of Contribution.
      Each
      Guarantor hereby agrees that to the extent that a Guarantor shall have paid
      more
      than its proportionate share of any payment made hereunder, such Guarantor
      shall
      be entitled to seek and receive contribution from and against any other
      Guarantor hereunder which has not paid its proportionate share of such payment.
      Each Guarantor's right of contribution shall be subject to the terms and
      conditions of Section 2(c). The provisions of this Section 2(b) shall in no
      respect limit the obligations and liabilities of any Guarantor to the
      Purchasers, and each Guarantor shall remain liable to the Purchasers for the
      full amount guaranteed by such Guarantor hereunder.

     

    (c) No
      Subrogation.
      Notwithstanding any payment made by any Guarantor hereunder or any set-off
      or
      application of funds of any Guarantor by 

    
      
        
        

      

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    the
      Purchasers, no Guarantor shall be entitled to be subrogated to any of the rights
      of the Purchasers against the Company or any other Guarantor or any collateral
      security or guarantee or right of offset held by the Purchasers for the payment
      of the Obligations, nor shall any Guarantor seek or be entitled to seek any
      contribution or reimbursement from the Company or any other Guarantor in respect
      of payments made by such Guarantor hereunder, until all amounts owing to the
      Purchasers by the Company on account of the Obligations are paid in full. If
      any
      amount shall be paid to any Guarantor on account of such subrogation rights
      at
      any time when all of the Obligations shall not have been paid in full, such
      amount shall be held by such Guarantor in trust for the Purchasers, segregated
      from other funds of such Guarantor, and shall, forthwith upon receipt by such
      Guarantor, be turned over to the Purchasers in the exact form received by such
      Guarantor (duly indorsed by such Guarantor to the Purchasers, if required),
      to
      be applied against the Obligations, whether matured or unmatured, in such order
      as the Purchasers may determine.

     

    (d) Amendments,
      Etc. With Respect to the Obligations.
      Each
      Guarantor shall remain obligated hereunder notwithstanding that, without any
      reservation of rights against any Guarantor and without notice to or further
      assent by any Guarantor, any demand for payment of any of the Obligations made
      by the Purchasers may be rescinded by the Purchasers and any of the Obligations
      continued, and the Obligations, or the liability of any other Person upon or
      for
      any part thereof, or any collateral security or guarantee therefor or right
      of
      offset with respect thereto, may, from time to time, in whole or in part, be
      renewed, extended, amended, modified, accelerated, compromised, waived,
      surrendered or released by the Purchasers, and the Purchase Agreement and the
      other Transaction Documents and any other documents executed and delivered
      in
      connection therewith may be amended, modified, supplemented or terminated,
      in
      whole or in part, as the Purchasers may deem advisable from time to time, and
      any collateral security, guarantee or right of offset at any time held by the
      Purchasers for the payment of the Obligations may be sold, exchanged, waived,
      surrendered or released. The Purchasers shall have no obligation to protect,
      secure, perfect or insure any Lien at any time held by them as security for
      the
      Obligations or for the guarantee contained in this Section 2 or any property
      subject thereto. 

     

    (e) Guarantee
      Absolute and Unconditional.
      Each
      Guarantor waives any and all notice of the creation, renewal, extension or
      accrual of any of the Obligations and notice of or proof of reliance by the
      Purchasers upon the guarantee contained in this Section 2 or acceptance of
      the
      guarantee contained in this Section 2; the Obligations, and any of them, shall
      conclusively be deemed to have been created, contracted or incurred, or renewed,
      extended, amended or waived, in reliance upon the guarantee contained in this
      Section 2; and all dealings between the Company and any of the Guarantors,
      on
      the one hand, and the Purchasers, on the other hand, likewise shall be
      conclusively presumed to have been had or consummated in reliance upon the
      guarantee contained in this Section 2. Each Guarantor waives to the extent
      permitted by law diligence, 

    
      
        
        

      

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    presentment,
      protest, demand for payment and notice of default or nonpayment to or upon
      the
      Company or any of the Guarantors with respect to the Obligations. Each Guarantor
      understands and agrees that the guarantee contained in this Section 2 shall
      be
      construed as a continuing, absolute and unconditional guarantee of payment
      without regard to (a) the validity or enforceability of the Purchase Agreement
      or any other Transaction Document, any of the Obligations or any other
      collateral security therefor or guarantee or right of offset with respect
      thereto at any time or from time to time held by the Purchasers, (b) any
      defense, set-off or counterclaim (other than a defense of payment or performance
      or fraud or misconduct by Purchasers) which may at any time be available to
      or
      be asserted by the Company or any other Person against the Purchasers, or (c)
      any other circumstance whatsoever (with or without notice to or knowledge of
      the
      Company or such Guarantor) which constitutes, or might be construed to
      constitute, an equitable or legal discharge of the Company for the Obligations,
      or of such Guarantor under the guarantee contained in this Section 2, in
      bankruptcy or in any other instance. When making any demand hereunder or
      otherwise pursuing its rights and remedies hereunder against any Guarantor,
      the
      Purchasers may, but shall be under no obligation to, make a similar demand
      on or
      otherwise pursue such rights and remedies as they may have against the Company,
      any other Guarantor or any other Person or against any collateral security
      or
      guarantee for the Obligations or any right of offset with respect thereto,
      and
      any failure by the Purchasers to make any such demand, to pursue such other
      rights or remedies or to collect any payments from the Company, any other
      Guarantor or any other Person or to realize upon any such collateral security
      or
      guarantee or to exercise any such right of offset, or any release of the
      Company, any other Guarantor or any other Person or any such collateral
      security, guarantee or right of offset, shall not relieve any Guarantor of
      any
      obligation or liability hereunder, and shall not impair or affect the rights
      and
      remedies, whether express, implied or available as a matter of law, of the
      Purchasers against any Guarantor. For the purposes hereof, “demand” shall
      include the commencement and continuance of any legal proceedings.

     

    (f) Reinstatement.
      The
      guarantee contained in this Section 2 shall continue to be effective, or be
      reinstated, as the case may be, if at any time payment, or any part thereof,
      of
      any of the Obligations is rescinded or must otherwise be restored or returned
      by
      the Purchasers upon the insolvency, bankruptcy, dissolution, liquidation or
      reorganization of the Company or any Guarantor, or upon or as a result of the
      appointment of a receiver, intervenor or conservator of, or trustee or similar
      officer for, the Company or any Guarantor or any substantial part of its
      property, or otherwise, all as though such payments had not been
      made.

    

    (g) Payments.
      Each
      Guarantor hereby guarantees that payments hereunder will be paid to the
      Purchasers without set-off or counterclaim in U.S. dollars at the address set
      forth or referred to in the Purchase Agreement.

    
      
        
        

      

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    3. Representations
      and Warranties.
      Each
      Guarantor hereby makes the following representations and warranties to
      Purchasers as of the date hereof:

     

    (a) Organization
      and Qualification.
      If the
      Guarantor is a corporation, such Guarantor is duly incorporated, validly
      existing and in good standing under the laws of the applicable jurisdiction
      set
      forth on Schedule 1, with the requisite corporate power and authority to own
      and
      use its properties and assets and to carry on its business as currently
      conducted. If the Guarantor is a limited liability company, such Guarantor
      is a
      limited liability company validly existing and in good standing under the laws
      of the state of its formation, with the requisite power and authority to own
      and
      use its properties and assets and to carry on its business as currently
      conducted. The Guarantor has no subsidiaries other than those identified as
      such
      on the Disclosure Schedules to the Purchase Agreement. The Guarantor is duly
      qualified to do business and is in good standing as a foreign corporation or
      limited liability company, as applicable, in each jurisdiction in which the
      nature of the business conducted or property owned by it makes such
      qualification necessary, except where the failure to be so qualified or in
      good
      standing, as the case may be, could not, individually or in the aggregate,
      (x)
      adversely affect the legality, validity or enforceability of any of this
      Guaranty in any material respect, (y) have a material adverse effect on the
      results of operations, assets, prospects, or financial condition of the
      Guarantor or (z) adversely impair in any material respect the Guarantor's
      ability to perform fully on a timely basis its obligations under this Guaranty
      (a “Material
      Adverse Effect”).

     

    (b) Authorization;
      Enforcement.
      The
      Guarantor has the requisite power and authority to enter into and to consummate
      the transactions contemplated by this Guaranty, and otherwise to carry out
      its
      obligations hereunder. If the Guarantor is a corporation, the execution and
      delivery of this Guaranty by the Guarantor and the consummation by it of the
      transactions contemplated hereby have been duly authorized by all requisite
      corporate action on the part of the Guarantor. If the Guarantor is a limited
      liability company, the execution and delivery of this Guaranty by the Guarantor
      and the consummation by it of the transactions contemplated hereby have been
      duly authorized by all requisite limited liability company action on the part
      of
      the Guarantor. This Guaranty has been duly executed and delivered by the
      Guarantor and constitutes the valid and binding obligation of the Guarantor
      enforceable against the Guarantor in accordance with its terms, except as such
      enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization, moratorium, liquidation or similar laws relating to, or
      affecting generally the enforcement of, creditors' rights and remedies or by
      other equitable principles of general application.

    

    (c) No
      Conflicts.
      The
      execution, delivery and performance of this Guaranty by the Guarantor and the
      consummation by the Guarantor of the transactions contemplated thereby do not
      and will not (i) conflict with or violate 

    
      
        
        

      

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    any
      provision of its Certificate of Incorporation, By-laws or Limited Liability
      Company Agreement, as applicable, or (ii) conflict with, constitute a default
      (or an event which with notice or lapse of time or both would become a default)
      under, or give to others any rights of termination, amendment, acceleration
      or
      cancellation of, any agreement, indenture or instrument to which the Guarantor
      is a party, or (iii) result in a violation of any law, rule, regulation, order,
      judgment, injunction, decree or other restriction of any court or governmental
      authority to which the Guarantor is subject (including Federal and state
      securities laws and regulations), or by which any material property or asset
      of
      the Guarantor is bound or affected, except in the case of each of clauses (ii)
      and (iii), such conflicts, defaults, terminations, amendments, accelerations,
      cancellations and violations as could not, individually or in the aggregate,
      have or result in a Material Adverse Effect. The business of the Guarantor
      is
      not being conducted in violation of any law, ordinance or regulation of any
      governmental authority, except for violations which, individually or in the
      aggregate, do not have a Material Adverse Effect.

     

    (d) Consents
      and Approvals.
      The
      Guarantor is not required to obtain any consent, waiver, authorization or order
      of, or make any filing or registration with, any court or other federal, state,
      local, foreign or other governmental authority or other person in connection
      with the execution, delivery and performance by the Guarantor of this Guaranty
      which approval has not been obtained.

    

    (e) Purchase
      Agreement.
      The
      representations and warranties of the Company set forth in the Purchase
      Agreement as they relate to such Guarantor, each of which is hereby incorporated
      herein by reference, are true and correct as of each time such representations
      are deemed to be made pursuant to such Purchase Agreement, and the Purchasers
      shall be entitled to rely on each of them as if they were fully set forth
      herein, provided that each reference in each such representation and warranty
      to
      the Company's knowledge shall, for the purposes of this Section 3, be deemed
      to
      be a reference to such Guarantor's knowledge. 

    

    (f) Foreign
      Law.
      Each
      Guarantor has consulted with appropriate foreign legal counsel with respect
      to
      any of the above representations for which non-U.S. law is applicable. Such
      foreign counsel have advised each applicable Guarantor that such counsel knows
      of no reason why any of the above representations would not be true and
      accurate. Such foreign counsel were provided with copies of this Subsidiary
      Guarantee and the Transaction Documents prior to rendering their advice.

    

    4. Covenants.
      

    

    (a) Each
      Guarantor covenants and agrees with the Purchasers that, from and after the
      date
      of this Guarantee until the Obligations shall have been paid in full, such
      Guarantor shall take, and/or shall refrain from taking, as the case may be,
      each
      commercially reasonable action that is necessary to be taken or not

    
      
        
        

      

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    taken,
      as
      the case may be, so that no Event of Default is caused by the failure to take
      such action or to refrain from taking such action by such Guarantor.

     

    (b) Except
      as
      otherwise contemplated by the Transaction Documents, so long as any of the
      Obligations are outstanding, each Guarantor will not directly or indirectly
      on
      or after the date of this Guarantee:

    

    i. enter
      into, create, incur, assume or suffer to exist any indebtedness for borrowed
      money of any kind, including but not limited to, a guarantee, on or with respect
      to any of its property or assets now owned or hereafter acquired or any interest
      therein or any income or profits therefrom;

    

    ii. enter
      into, create, incur, assume or suffer to exist any liens of any kind, on or
      with
      respect to any of its property or assets now owned or hereafter acquired or
      any
      interest therein or any income or profits therefrom;

    

    iii. amend
      its
      certificate of incorporation, bylaws, limited liability company agreement or
      other charter documents so as to adversely affect any rights of the Holder
      hereunder;

    

    iv. repay,
      repurchase or offer to repay, repurchase or otherwise acquire more than a de
      minimis number of shares of its securities or debt obligations; 

    

    v. pay
      cash
      dividends on any equity securities of the Company;

    

    vi. enter
      into any transaction with any Affiliate of the Guarantor which would be required
      to be disclosed in any public filing of the Company with the Commission, unless
      such transaction is made on an arm’s-length basis and expressly approved by a
      majority of the disinterested directors of the Company (even if less than a
      quorum otherwise required for board approval); or

    

    vii. enter
      into any agreement with respect to any of the foregoing.

    

    5. Miscellaneous.

    

    (a) Amendments
      in Writing.
      None of
      the terms or provisions of this Guarantee may be waived, amended, supplemented
      or otherwise modified except in writing by the Purchasers.

    
      
        
        

      

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    (b) Notices.
      All
      notices, requests and demands to or upon the Purchasers or any Guarantor
      hereunder shall be effected in the manner provided for in the Purchase
      Agreement, provided that any such notice, request or demand to or upon any
      Guarantor shall be addressed to such Guarantor at its notice address set forth
      on Schedule
      5(b).

    

    (c) No
      Waiver By Course Of Conduct; Cumulative Remedies.
      The
      Purchasers shall not by any act (except by a written instrument pursuant to
      Section 5(a)), delay, indulgence, omission or otherwise be deemed to have waived
      any right or remedy hereunder or to have acquiesced in any default under the
      Transaction Documents or Event of Default. No failure to exercise, nor any
      delay
      in exercising, on the part of the Purchasers, any right, power or privilege
      hereunder shall operate as a waiver thereof. No single or partial exercise
      of
      any right, power or privilege hereunder shall preclude any other or further
      exercise thereof or the exercise of any other right, power or privilege. A
      waiver by the Purchasers of any right or remedy hereunder on any one occasion
      shall not be construed as a bar to any right or remedy which the Purchasers
      would otherwise have on any future occasion. The rights and remedies herein
      provided are cumulative, may be exercised singly or concurrently and are not
      exclusive of any other rights or remedies provided by law.

    

    (d) Enforcement
      Expenses; Indemnification.

    

    
      	 	
              (i)

            	
              Each
                Guarantor agrees to pay, or reimburse the Purchasers for, all its costs
                and expenses incurred in collecting against such Guarantor under
                the
                guarantee contained in Section 2 or otherwise enforcing or preserving
                any
                rights under this Guarantee and the other Transaction Documents to
                which
                such Guarantor is a party, including, without limitation, the reasonable
                fees and disbursements of counsel to the
                Purchasers.

            

    

     

    
      	 	
              (ii)

            	
              Each
                Guarantor agrees to pay, and to save the Purchasers harmless from,
                any and
                all liabilities with respect to, or resulting from any delay in paying,
                any and all stamp, excise, sales or other taxes which may be payable
                or
                determined to be payable in connection with any of the transactions
                contemplated by this Guarantee.

            

    

    

    
      	 	
              (iii)

            	
              Each
                Guarantor agrees to pay, and to save the Purchasers harmless from,
                any and
                all liabilities, obligations, losses, damages, penalties, actions,
                judgments, suits, costs, expenses or disbursements of any kind or
                nature
                whatsoever with respect to the execution, delivery, enforcement,
                performance and administration of this

            

    

    
      
        
        

      

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    Guarantee
      to the extent the Company would be required to do so pursuant to the Purchase
      Agreement.

    

    
      	 	
              (iv)

            	
              The
                agreements in this Section shall survive repayment of the Obligations
                and
                all other amounts payable under the Purchase Agreement and the other
                Transaction Documents. 

            

    

    

    (e) Successor
      and Assigns.
      This
      Guarantee shall be binding upon the successors and assigns of each Guarantor
      and
      shall inure to the benefit of the Purchasers and their respective successors
      and
      assigns; provided that no Guarantor may assign, transfer or delegate any of
      its
      rights or obligations under this Guarantee without the prior written consent
      of
      the Purchasers.

     

    (f) Set-Off.
      Each
      Guarantor hereby irrevocably authorizes the Purchasers at any time and from
      time
      to time while an Event of Default under any of the Transaction Documents shall
      have occurred and be continuing, without notice to such Guarantor or any other
      Guarantor, any such notice being expressly waived by each Guarantor, to set-off
      and appropriate and apply any and all deposits, credits, indebtedness or claims,
      in any currency, in each case whether direct or indirect, absolute or
      contingent, matured or unmatured, at any time held or owing by the Purchasers
      to
      or for the credit or the account of such Guarantor, or any part thereof in
      such
      amounts as the Purchasers may elect, against and on account of the obligations
      and liabilities of such Guarantor to the Purchasers hereunder and claims of
      every nature and description of the Purchasers against such Guarantor, in any
      currency, whether arising hereunder, under the Purchase Agreement, any other
      Transaction Document or otherwise, as the Purchasers may elect, whether or
      not
      the Purchasers have made any demand for payment and although such obligations,
      liabilities and claims may be contingent or unmatured. The Purchasers shall
      notify such Guarantor promptly of any such set-off and the application made
      by
      the Purchasers of the proceeds thereof, provided that the failure to give such
      notice shall not affect the validity of such set-off and application. The rights
      of the Purchasers under this Section are in addition to other rights and
      remedies(including, without limitation, other rights of set-off) which the
      Purchasers may have.

     

    (g) Counterparts.
      This
      Guarantee may be executed by one or more of the parties to this Guarantee on
      any
      number of separate counterparts (including by telecopy), and all of said
      counterparts taken together shall be deemed to constitute one and the same
      instrument. 

    

    (h) Severability.
      Any
      provision of this Guarantee which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction. 

    
      
        
        

      

        10

        
          

        

      

      
        
        

      

    
    

    (i) Section
      Headings.
      The
      Section headings used in this Guarantee are for convenience of reference only
      and are not to affect the construction hereof or be taken into consideration
      in
      the interpretation hereof.

    

    (j) Integration.
      This
      Guarantee and the other Transaction Documents represent the agreement of the
      Guarantors and the Purchasers with respect to the subject matter hereof and
      thereof, and there are no promises, undertakings, representations or warranties
      by the Purchasers relative to subject matter hereof and thereof not expressly
      set forth or referred to herein or in the other Transaction
      Documents.

    

    (k) Governing
      Law.
      THIS
      GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
      WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY PRINCIPLES OF
      CONFLICTS OF LAWS. 

    

    (l) Submission
      to Jurisdictional; Waiver.
      Each
      Guarantor hereby irrevocably
      and unconditionally:

    

    
      	 	
              (i)

            	
              submits
                for itself and its property in any legal action or proceeding relating
                to
                this Guarantee and the other Transaction Documents to which it is
                a party,
                or for recognition and enforcement of any judgment in respect thereof,
                to
                the non-exclusive general jurisdiction of the Courts of the State
                of New
                York, located in New York County, New York, the courts of the United
                States of America for the Southern District of New York, and appellate
                courts from any thereof; 

            

    

     

    
      	 	
              (ii)

            	
              consents
                that any such action or proceeding may be brought in such courts
                and
                waives any objection that it may now or hereafter have to the venue
                of any
                such action or proceeding in any such court or that such action or
                proceeding was brought in an inconvenient court and agrees not to
                plead or
                claim the same; 

            

    

    

    
      	 	
              (iii)

            	
              agrees
                that service of process in any such action or proceeding may be effected
                by mailing a copy thereof by registered or certified mail (or any
                substantially similar form of mail), postage prepaid, to such Guarantor
                at
                its address referred to in the Purchase Agreement or at such other
                address
                of which the Purchasers shall have been notified pursuant
                thereto;

            

    

    
      
        
        

      

        11

        
          

        

      

      
        
        

      

    
    

    
      	 	
              (iv)

            	
              agrees
                that nothing herein shall affect the right to effect service of process
                in
                any other manner permitted by law or shall limit the right to sue
                in any
                other jurisdiction; and 

            

    

    

    
      	 	
              (v)

            	
              waives,
                to the maximum extent not prohibited by law, any right it may have
                to
                claim or recover in any legal action or proceeding referred to in
                this
                Section any special, exemplary, punitive or consequential damages.
                

            

    

    

    (m) Acknowledgements.
      Each
      Guarantor hereby acknowledges that:

    

    
      	 	
              (i)

            	
              it
                has been advised by counsel in the negotiation, execution and delivery
                of
                this Guarantee and the other Transaction Documents to which it is
                a party;
                

            

    

     

    
      	 	
              (ii)

            	
              the
                Purchasers have no fiduciary relationship with or duty to any Guarantor
                arising out of or in connection with this Guarantee or any of the
                other
                Transaction Documents, and the relationship between the Guarantors,
                on the
                one hand, and the Purchasers, on the other hand, in connection herewith
                or
                therewith is solely that of debtor and creditor; and
                

            

    

    

    
      	 	
              (iii)

            	
              no
                joint venture is created hereby or by the other Transaction Documents
                or
                otherwise exists by virtue of the transactions contemplated hereby
                among
                the Guarantors and the Purchasers. 

            

    

    

    (n) Additional
      Guarantors.
      The
      Company shall cause each of its subsidiaries formed or acquired on or subsequent
      to the date hereof to become a Guarantor for all purposes of this Guarantee
      by
      executing and delivering an Assumption
      Agreement in the form of Annex 1 hereto.

     

    (o) Release
      of Guarantors.
      Subject
      to Section 2.6, each Guarantor will be released from all liability hereunder
      concurrently with the repayment in full of all amounts owed under the Purchase
      Agreement, the Debentures and the other Transaction Documents. 

    

    (p) Seniority.
      The
      Obligations of each of the Guarantors hereunder rank senior in priority to
      any
      other Indebtedness (as defined in the Purchase Agreement) of such Guarantor.
      

    

    (q) Waiver
      of Jury Trial.
      EACH
      GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE PURCHASERS, HEREBY
      IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN 

    
      
        
        

      

        12

        
          

        

      

      
        
        

      

    

    ANY
      LEGAL
      ACTION OR PROCEEDING RELATING TO THIS GUARANTEE AND FOR ANY COUNTERCLAIM
      THEREIN.

    
      
        
        

      

        13

        
          

        

      

      
        
        

      

    
     

    IN
      WITNESS WHEREOF, each of the undersigned has caused this Guarantee to
      be
      duly executed and delivered as of the date first above written.

     

    
      	
              FEARLESS
                YACHTS, LLC

            
	 	 
	
              By:

            	
              _________________________________

            
	 	
              Name:

            
	 	
              Title:
                

            

    

    
      
        
        

      

        14

        
          

        

      

      
        
        

      

    

    SCHEDULE
      1

    

    GUARANTORS

    

    The
      following are the names, notice addresses and jurisdiction of organization
      of
      each Guarantor.

    

    
      	 	
              JURISDICTION
                OF 

              INCORPORATION
                OR 

              STATE
                OF FORMATION

            	 	
              COMPANY
                OWNED BY
                

              PERCENTAGE

            
	
              Fearless
                Yachts, LLC

            	
              Missouri
                limited liability company

            	 	
              100%
                owned by Fearless International,
                Inc.

            

    

    
      
        
        

      

        15

        
          

        

      

      
        
        

      

    

    Annex
      1
      to

    SUBSIDIARY
      GUARANTEE

    

    ASSUMPTION
      AGREEMENT, dated as of ____ __, ______ made by ______________________________,
      a
      ______________ corporation (the “Additional
      Guarantor”),
      in
      favor of the Purchasers pursuant to the Purchase Agreement referred to below.
      All capitalized terms not defined herein shall have the meaning ascribed to
      them
      in such Purchase Agreement. 

    

    W
      I T N E S S E T H :

    

    WHEREAS,
      Fearless International, Inc., a Nevada corporation (the “Company”)
      and
      the Purchasers have entered into a Securities Purchase Agreement, dated as
      of
      February ___, 2008 (as amended, supplemented or otherwise modified from time
      to
      time, the “Purchase
      Agreement”);
      

    

    WHEREAS,
      in connection with the Purchase Agreement, the Company and its Subsidiaries
      (other than the Additional Guarantor) have entered into the Subsidiary
      Guarantee, dated as of February ____, 2008 (as amended, supplemented or
      otherwise modified from time to time, the “Guarantee”)
      in
      favor of the Purchasers; 

    

    WHEREAS,
      the Purchase Agreement requires the Additional Guarantor to become a party
      to
      the Guarantee; and

    

    WHEREAS,
      the Additional Guarantor has agreed to execute and deliver
      this Assumption Agreement in order to become a party to the
      Guarantee;

    

    NOW,
      THEREFORE, IT IS AGREED:

    

    1. Guarantee.
      By
      executing and delivering this Assumption Agreement, the Additional Guarantor,
      as
      provided in Section 5(n) of the Guarantee, hereby becomes a party to the
      Guarantee as a Guarantor thereunder with the same force and effect as if
      originally named therein as a Guarantor and, without limiting the generality
      of
      the foregoing, hereby expressly assumes all obligations and liabilities of
      a
      Guarantor thereunder. The information set forth in Annex 1-A hereto is hereby
      added to the information set forth in Schedule 1 to the Guarantee. The
      Additional Guarantor hereby represents and warrants that each of the
      representations and warranties contained in Section 3 of the Guarantee is true
      and correct on and as the date hereof as to such Additional Guarantor (after
      giving effect to this Assumption Agreement) as if made on and as of such
      date.

     

    2. Governing
      Law.
      THIS
      ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
      ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

    
      
        
        

      

        16

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the undersigned has caused this Assumption Agreement
      to be duly executed and delivered as of the date first above
      written.

     

    
      	
              [ADDITIONAL
                GUARANTOR]

            
	 	 
	 	 
	
              By:
                

            	 
	
              Name:

            	 
	
              Title:

            	 
	 	 

    

     

    
      
         

      

        17EXHIBIT 10.5 

PLACEMENT AGREEMENT 

          This
Placement Agreement (the “Agreement”)
is made effective this 29 day of August, 2007, by and among Fearless International,
Inc., a Nevada corporation (the “Company”),
Global Hunter Securities, LLC, a New York limited liability company, and the
managing placement agent  (“GHS”)
and Ardent Advisors, LLC a Delaware limited liability company and office of supervisory
jurisdiction of Nexcore Capital, Inc. (“Ardent” and, together with
GHS, the “Advisor”)
with respect to the following facts: 

  	A.      	The Company is engaged
            in the design and marketing of luxury performance powerboats and
            yachts.

	 
	B.      	The Company is a public
            company with capital needs.

	 
	C.      	The Company desires to
            have the Advisor, on an exclusive basis, provide certain capital
            raising and placement services (collectively, the “Services”), as described in Paragraph 3 of this Agreement, pursuant
            to the terms and conditions of this Agreement.

	 
	D.      	The Advisor desires to
            provide the Services to the Company pursuant to the terms and conditions
            of this Agreement.

	 
	E.      	The Advisor will use
            only Company approved materials in the promotion of the Company and
            its solicitation for funds.

	 

          NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained, the parties hereto intending to be legally bound agree as follows: 

          1.                APPOINTMENT OF THE ADVISOR.  The Company grants to the Advisor for
the term of this Agreement, the authority to provide the Services of raising capital on an exclusive basis upon the terms and conditions set forth in this Agreement.

          2.                DEFINITIONS.

	
(a)      		
                              “Common Stock” means the common stock of the Company as it exists on the date hereof.

	
	 
	
(b)      		
                              “Financial Requirement” means a Financing, Transaction or any combination of Financings and Transactions whereby the Company would
receive, in total aggregate value, at least $6,000,000.

	
	 
	
(c)      		
                              “Financing” means the gross proceeds or gross value of any private placement equity financing, or private placement debt
financing

	
	 

-1-

Global Hunter Securities · 601 Poydras Street, Suite 2025 · New Orleans, LA 70130 · 504.527.0333
· Fax 504.525.5607

	 	
convertible into equity of the Company. A Financing shall exclude the Company’s existing Regulation S offering in accordance with the terms of such offering on the date hereof (the “Reg S Offering”). 

	 	 
	
(d)      		
                              “Post-termination Closing” means any Financing or Transaction consummated within (1) 12 months after termination of this Agreement with
any Person or Persons, or (2) 18 months after termination of this Agreement with any Person or Persons introduced to the Company by the Advisor during the term of this Agreement, or with whom the Advisor discussed the terms of a potential Financing
or Transaction during the term of this Agreement.
	
	 
	
(e)      		
                              “Person” means any person, group of persons, partnership, joint venture, limited liability company, corporation or other entity, including
subsidiaries thereof, other than those of the Company or the Company.
	
	 
	
(f)      		
                              “Transaction” means (i) any merger, consolidation, reorganization, recapitalization, business combination or other transaction pursuant to
which a Person or a material subsidiary or other business unit of a Person acquires, is acquired by, or combines with, the Company, including but not limited to a reverse merger, into a shell or otherwise, or (ii) the acquisition, directly or
indirectly, of or by the Company (or by one or more persons acting together with the Company pursuant to a written agreement or otherwise), in a single transaction or a series of transactions, of all or substantially all of the assets of a Person or
of the Company or a material subsidiary or other business unit of a Person or of the Company or of fifty percent or more of a Person's, or of the Company's, outstanding common stock (whether by way of tender or exchange offer, open market purchases,
negotiated purchases or otherwise).
	
	 

     3.                        ADVISOR SERVICES.  The Advisor, as independent contractors, will
provide the following Services to the Company during the term of this Agreement as reasonably requested or required by the Company: 

	    (a)    	
                              Attempt to secure the Financial Requirement for the Company (at least $6,000,000) through equity investments or debt instruments from accredited investor entities;

	
	 
	    (b)	
                              Offer advice and consultation with respect to the creation of the Company’s investor presentation to enhance the probability of attainment of funds, including but not limited to reviewing and modifying the
Company’s investment and presentation documents toward attracting additional investors and develop new material as deemed necessary to bring qualified investors to an investment position in the Company;

	
	 
	    (c)	
                              If reasonably available, structure a Transaction whereby the Company would receive Financing as a result of such Transaction; and

	
	 
	    (d)	
                              Other services necessary to accomplish the financing goals of the Company will be identified and agreed to as the efforts identified herein are carried out.

	
	 

-2-

     4.                      COMPENSATION TO THE ADVISOR.  As compensation for providing the
Services described hereunder, the Company agrees to pay the Advisor: 

	     (a)      		
                              For Financings consisting of equity investments, including debt convertible into common stock and preferred stock convertible into common stock, during the term of this Agreement and for any Post-termination
Closing, a fee of 10% (ten percent) of each Financing, payable to the Advisor in cash from the proceeds of the Financing, either prior to, or immediately after, the transfer of the proceeds of the Financing or Transaction to the Company;

	
	 
	     (b)      		
                              For Financings consisting of non-convertible debt instruments, during the term of this Agreement and for any Post-termination Closing, a fee of 5% (five percent) of each Financing, payable to the Advisor in cash
from the proceeds of the Financing, either prior to, or immediately after, the transfer of the proceeds of the Financing to the Company;

	
	 
	     (c)      		
                              During the term of this Agreement and for any Post-termination Closing, a fee of 10% (ten percent) of the aggregate number of shares of Common Stock issued, or issuable upon conversion or exercise of any other
security issued by the Company in each Financing or Transaction payable, in the sole discretion of the Advisor, in any combination of Common Stock or warrants of the Company (the Warrants”). These shares of Common Stock and Warrants will have
the same terms, valuation or value, exercise price and registration rights as the Common Stock and warrants issued in the respective Financing or Transaction, (however, such Warrants shall have a cashless exercise feature irrespective of whether the
warrants in the respective Financing or Transaction have such cashless exercise feature), except that if no warrants are issued in the respective Financing or Transaction then the Warrants shall have a term of at least five (5) years, an exercise
price equal to the share price under the most recent Financing, Transaction or other valuation, or as mutually agreed to by the Company and the Advisor, and along with the Common Stock, piggy back registration rights;

	
	 
	     (d)      		
                              During the term of this Agreement and for the period of 36 months from the termination of this Agreement or from the Post-termination Closing, whichever is later, a fee of 5% (five percent) of the proceeds from the
exercise of any warrants issued pursuant to any Financing secured by the Advisor, payable in the sole discretion of the Company (i) in cash from the proceeds of the exercise of the warrants either prior to, or immediately after, the transfer of the
proceeds of the exercise of the warrants to the Company, and/or (ii) Common Stock of the Company at a price equivalent to the share price of the respective Financing with piggy back registration rights;

	
	 
	     (e)      		
                              It is also understood that in the event that the Advisor introduces Company to, or the Company enters into direct contact with, a merger and/or acquisition candidate, indirectly through another intermediary, with
whom Company, or its nominees, ultimately executes a Transaction, the Company agrees to compensate the Advisor in the amount of 2.5% (two and a half percent)

	
	 

-3-

	           		
of total gross consideration provided by such merger and/or Transaction, such fee to be payable in the same form of consideration received by the seller/merged company. This will be in addition to any fees payable by the Company
to any other intermediary, if any, which shall be per separate agreements negotiated between Company and such other intermediary; and 

	
	 
	     (f)      		
                              Upon the execution of this Agreement by all parties, the Company shall advance GHS $25,000  to be applied to expenses (including legal fees and costs) incurred in
connection with this Agreement by GHS. If the total expenses (including legal fees and costs) incurred by GHS in connection with this Agreement exceed $25,000,  the Company shall make additional advances of $25,000  each upon the written
request of GHS.   GHS will submit an itemized statement of expenses together with reasonable supporting documentation to the Company on a monthly basis and, to the extent the advances made from time to time by the Company to GHS do not cover the
expenses of GHS, the Company shall reimburse GHS for such expenses within 20 days of the date of such itemized statement.   Any reasonable and documented expenses (including legal fees and costs) incurred by Ardent in connection with this Agreement
shall be submitted by Ardent to GHS, for application of the advances or reimbursements by the Company in the above-described   manner.   The Company shall not be required to reimburse Advisor expenses (or advance funds for such expenses) to the
extent the aggregate expense reimbursement hereunder would exceed $100,000,  unless the Company authorizes the incurrence of expenses in excess of such amount.

     The Advisor acknowledges that the Common Stock and warrants set forth in this Paragraph 4 will be restricted securities as defined under the Securities Act of 1933, and that they will be subject to
the following restriction, which will be noted as a legend in substantially the following form on the face of the certificates representing the shares and the warrants:

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) OR QUALIFIED UNDER THE
SECURITIES LAWS OF ANY STATE (THE “LAW”).  SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NEITHER SAID SHARES NOR ANY INTEREST THEREIN MAY BE SOLD OR OFFERED FOR SALE
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER THE ACT AND QUALIFICATION UNDER THE LAW OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION AND QUALIFICATION ARE NOT REQUIRED AS TO SAID SHARES.

          5.                     RIGHT OF FIRST REFUSAL. If the Advisor is successful in raising the
Financing Requirement for the Company during the term of this Agreement or pursuant to a Post-termination Closing, and the Company seeks additional Financing, then the Company shall grant the Advisor a right of first refusal for twelve months at the
same terms and conditions set forth in this Agreement. If the Company is presented with a term sheet during the Right of First Refusal, the Advisor, after receiving the term sheet from the Company, must inform the Company within ten (10) days that
it believes in good faith that it can perform. If the Advisor believes it cannot perform, than the Company shall not be bound by the Advisor’s Right of Frist

-4-

Refusal.  However, if the Advisor, in its good faith estimate, believes it can perform and notwithstanding any terms, conditions or provisions of this Agreement, if the Company enters into a placement agreement for Financing or
any other agreement whereby a broker or agent has agreed to raise capital for the Company, the Advisor shall receive compensation and fees at an equivalent rate (on a pro rata basis) as such broker or agent, but such equivalent rate shall not be
below the rates provided in Paragraph 4 of this Agreement. 

          6.                    TERM OF AGREEMENT. The term of this Agreement shall be until
October 31, 2007 and commence on the date hereof, subject to Paragraph 7 hereof. Either party may terminate this Agreement at any time by giving the other party prior fifteen (15) days written notice of such termination. At the option of Company, it
may extend the agreement in 30 day increments provided both Ardent and GHS both agree to such extensions. 

          7.                    EFFECT OF TERMINATION.  On and after termination of this Agreement
by either party, the Company shall pay to the Advisor all fees in accordance with Paragraph 4. The obligation to pay such fees shall survive any termination of this Agreement. 

          8.                    REPRESENTATIONS OF THE COMPANY.  The Company represents and
warrants to the Advisor that the disclosure documents regarding the Company and its business, assets and liabilities are and will be true and correct and contain no material omission or misstatement of the facts.  The Company agrees to keep the
Advisor currently informed as to any changes in material facts regarding the Company, its proposed business, its assets and liabilities, or any other matters referred to in the disclosure documents provided by the Company.  Other than the Financing
being undertaken by Advisor on behalf of the Company pursuant to this Agreement, during the term of this Agreement (a) neither the Company, nor any affiliate of the Company, shall directly or indirectly sell, assign, transfer, pledge, hypothecate,
or otherwise dispose of in any way any Shares (as defined below) now or hereafter beneficially owned or held by any such Person, except for Permitted Transactions (defined below) unless otherwise agreed in writing by Advisor, and (b) the Company
shall not undertake any stock split, stock dividend, recapitalization, merger or similar event without the prior written consent of GHS. For purposes of this Agreement, the term “Shares” shall mean any capital stock of or other equity interest in the Company, or any securities exercisable for or convertible into any of the foregoing owned as of the date hereof or any time hereafter, or any agreement or commitment
to issue any of the foregoing. 

“Permitted Transactions” shall include:

	
(a)      		
Bridge financing in an amount not to exceed $500,000 in aggregate principal amount of indebtedness or in net proceeds to be received by the Company, which bridge financing is anticipated to be repaid with
proceeds of a Financing;

	
	 
	
(b)      		
The closing of sales of Shares pursuant to the Reg S Offering that are pending as of the date hereof generating net proceeds to the Company of not more than $100,000; and

	
	 
	
(c)      		
Sales of Shares pursuant to the Reg S Offering following the end of the “road show” organized by the Advisor, if the Advisor is unable to
indicate that it is confident in its ability to close a Financing or Transaction satisfying the Financial Requirement.

	
	 

-5-

          9.                    INDEPENDENT CONTRACTOR.  The Advisor shall act at all times
hereunder as an independent contractor with respect to the Company, and not as an employee, partner, agent or co-venturer of or with the Company. Except as set forth herein, the Company shall neither have nor exercise control or direction whatsoever
over the operations of the Advisor, and the Advisor shall neither have nor exercise any control or direction whatsoever over the employees, agents or subcontractors hired by the Company.

          10.                  NO AGENCY CREATED. No agency, employment, partnership or joint
venture shall be created by this Agreement, as the Advisor is an independent contractor as that term is defined in the Internal Revenue Code of 1986, as amended. The Advisor shall have no authority as an agent of the Company or to otherwise bind the
Company to any agreement, commitment, obligation, contract, instrument, undertaking, arrangement, certificate or other matter.  Each party hereto shall refrain from making any representation intended to create an apparent agency, employment,
partnership or joint venture relationship between the parties.

          11.                  INDEMNIFICATION.

          (a)                              Indemnity by the Company.  The Company hereby indemnifies and holds harmless the Advisor and each person
associated with the Advisor against any and all losses, claims, damages, liabilities and expenses (including reasonable costs of investigation and legal counsel fees) arising out of or based upon: 

                  (i)                       Any breach by the Company of its representations, warranties or covenants contained in or made pursuant to this Agreement; or 

                  (ii)                       Any violations of laws, rules or regulations by the Company or the Company’s agents, employees, representatives or affiliates.

          This indemnity shall be in addition to any liability the Company may otherwise have.

          (b)                              Indemnity by the Advisor.  The Advisor hereby indemnifies and holds harmless the Company and each person
associated with the Company against any and all losses, claims, damages, liabilities and expenses (including reasonable costs of investigation and legal counsel fees) arising out of or based upon: 

                  (i)                       Any breach by the Advisor of its representations, warranties or covenants contained in or made pursuant to this Agreement; or 

                  (ii)                       Any violations of laws, rules or regulations by the Advisor or the Advisor’s agents, employees, representatives or affiliates.

          This indemnity shall be in addition to any liability the Advisor may otherwise have.

-6-

          (c)                        Actions Relating to Indemnity.  If any action or claim shall be brought or asserted against a party
entitled to indemnification under this Agreement (the “Indemnified Party”) or any person controlling such party and in respect of which indemnity may be sought from the
party obligated to indemnify the Indemnified Party pursuant to this Paragraph 11 (the “Indemnifying Party”), the Indemnified Party shall promptly notify the Indemnifying
Party in writing and the Indemnifying Party shall assume the defense thereof, including the employment of legal counsel and the payment of all expenses related to the claim against the Indemnified Party or such other controlling party. The
Indemnified Party or any such controlling party shall have the right to employ separate legal counsel in any such action and participate in the defense thereof and to be indemnified for the reasonable legal fees and expenses of the Indemnified
Party’s own legal counsel.  This Paragraph 11 shall survive any termination of this Agreement. 

          12.                NON-CIRCUMVENTION.  The Advisor and the Company hereby represent, warrant and covenant that neither
party will directly or indirectly interfere with, limit, circumvent or otherwise damage or alter in any respect the relationship, rights, duties and obligations of the parties established herein or the interests of the parties created herein, and
the Company represents that it will not seek to arrange any Financing or Transaction which is similar to the Financings or Transactions contemplated herein other than pursuant to the terms hereof during the term of this Agreement or for a period of
18 months after the termination of this Agreement. 

          13.                NOTICES. Any notice required or permitted to be given pursuant to
this Agreement shall be in writing (unless otherwise specified herein) and shall be deemed effectively given upon personal delivery or upon receipt by the addressee by courier or by telefacsimile addressed to each of the other Parties thereunto
entitled at the respective address listed below, with a copy by email, or at such other addresses as a Party may designate by ten days advance written notice: 

If to the Company:

Fearless International, Inc. 

927 Lincoln Road, Suite 200 

Miami, FL 33139

Attn: Jeffrey Binder, President and CEO

Fax No.: (305) 674-1511 

jb@fearlessyachts.com 

with a copy to: 

Hodgson Russ LLP 

1540 Broadway 

New York, NY 10036-4039

Attn: Jeffrey Rinde, Partner 

Fax No.: (646) 218-7644

jrinde@hodgsonruss.com 

-7-

If to the Advisor:

Global Hunter Securities 

660 Newport Center Drive, Suite 950

Newport Beach, California 92660\ 

Attn: Gerald L. Mars, CPA, CVA 

Fax No: (949) 719-9004 

gmars@ghsecurities.com 

with a copy to: 

Keesal, Young & Logan 

400 Oceangate 

P.O. Box 1730 

Long Beach, CA 90801-1730 

Attn: John L. Babala, Esq. 

Fax No.: (562) 436-7416 

John.babala@kyl.com 

Ardent Advisors, LLC 

95 Horatio Street, Suite 204 

New York, NY 10014 

Fax No: (646) 202-1800 

Attn: Brian Corbman, Managing Director

Fax No.: (215) 681-6686 

brian@ardent-advisors.com 

          (a)                                sent by telecopy or facsimile transmission (in which case it shall be deemed delivered upon actual receipt);

          (b)                                placed in the United States mail, certified mail, return receipt requested, postage prepaid and addressed as provided in this paragraph (in
which case, it shall be deemed delivered five (5) days after such mailing); or 

          (c)                                personally delivered (in which case it shall be deemed delivered upon actual receipt) to, in all cases under Paragraphs 13(a), (b) and (c)
of this Agreement, the name, address, telephone and/or facsimile numbers set forth below the signatures lines for each party to this Agreement.

          14.                  ASSIGNMENT.  This Agreement shall not be assigned, pledged or
transferred in any way by either party hereto without the prior written consent of the other party. Any attempted assignment, pledge, transfer or other disposition of this Agreement or any rights, interests or benefits herein contrary to the
foregoing provisions shall be null and void. 

          15.                  CONFLICTING AGREEMENTS.  The Advisor and the Company represent and
warrant to each other that the entry into this Agreement and the obligations and duties undertaken hereunder will not conflict with, constitute a breach of or otherwise violate the terms of any agreement or court order to which either party is a
party, and that each party is not

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required to obtain the consent of any person, firm, corporation or other entity in order to enter into this Agreement. 

         16.              NO WAIVER.  No terms or conditions of this Agreement shall be
deemed to have been waived, nor shall any party hereto be stopped from enforcing any provisions of the Agreement, except by written instrument of the party charged with such waiver or estoppel.  Any written waiver shall not be deemed a continuing
waiver unless specifically stated, shall operate only as to the specific term or condition waived, and shall not constitute a waiver of such term or condition for the future or as to any act other than those specifically waived. 

         17.              GOVERNING LAW.  This Agreement shall be governed by and construed
in accordance with the laws of the State of New York.  The venue for any legal proceedings conducted pursuant to this Agreement will be in the appropriate forum in the City of New York, NY.

         18.              ENTIRE AGREEMENT. This Agreement contains the entire agreement of
the parties hereto in regard to the subject matter hereof and may not be changed orally but only by written document signed by the party against whom enforcement of the waiver, change, modification, extension or discharge is sought. This Agreement
supercedes all prior written or oral agreements by and among the Company or any of its subsidiaries or affiliates and the Advisor or any of its affiliates with respect to the subject matter of this Agreement. 

         19.              PARAGRAPH HEADINGS.  Headings contained therein are for convenient
reference only. They are not a part of this Agreement and are not to affect in any way the substance or interpretation of this Agreement.

         20.              SURVIVAL OF PROVISIONS.  In case any one or more of the provisions
or any portion of any provision set forth in this Agreement should be found to be invalid, illegal or unenforceable in any respect, such provision(s) or portion(s) thereof shall be modified or deleted in such manner as to afford the parties the
fullest protection commensurate with making this Agreement, as modified, legal and enforceable under applicable laws.  The validity, legality and enforceability of any such provisions shall not in any way be affected or impaired thereby and such
remaining provisions shall be construed as severable and independent thereof. 

         21.              BINDING EFFECT. This Agreement is binding upon and inures to the
benefit of the parties hereto and their respective successors and assigns, subject to the restriction on assignment contained in Paragraph 14 of this Agreement. 

         22.              ATTORNEY'S FEES.  The prevailing party in any legal proceeding
arising out of or resulting from this Agreement shall be entitled to recover its costs and fees, including, but not limited to, reasonable attorneys' fees and post judgment costs, from the other party. 

         23.              GENDER; PRONOUNS.  The use of the masculine shall refer to the
feminine or neuter in circumstances in which the context otherwise requires and the singular shall refer to the plural in circumstances in which the context otherwise requires. 

-9-

          24.              AUTHORIZED AGENT.  The persons executing this Agreement on behalf
of the Company and the Advisor hereby represent and warrant to each other that they are the duly authorized representatives of their respective entities and that each has taken all necessary corporate or partnership action to ratify and approve the
execution of this Agreement in accordance with its terms. 

          25.              ADDITIONAL DOCUMENTS. Each of the parties to this Agreement agrees
to provide such additional duly executed (in recordable form, where appropriate) agreements, documents and instruments as may be reasonably requested by the other party in order to carry out the purposes and intent of this Agreement. 

          26.              COUNTERPARTS & TELEFACSIMILE. This agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original and all of which shall constitute one agreement. A telefacsimile of this Agreement may be relied upon as full and sufficient evidence as an original. 

          27.              USE OF TRANSACTION DATA. The Company hereby agrees that the Advisor may use the details of the
Services and resulting Transactions and Financings in the Advisor’s promotional material, including the Company’s name and description of business and the amount of capital raised or the nature of the transaction. The Advisor agrees to
accurately represent the transaction in its promotional materials and cease using such information at the request of the Company.  If applicable, the Company agrees to include the Advisor on any tombstone related to a Financing or Transaction in
which the Advisor participated. 

          28.              BACKGROUND CHECK. The Company and the Advisor hereby grant permission to each other to perform, in
connection with due diligence, a background check, including but not limited to the financial history, tax or other liens or judgments, credit rating, criminal record, litigation history of each, or any of its affiliates, associates or related
entities. Further, the Company shall, within five (5) calendar days of signing this Agreement provide the following information: full name, name of any entities in which they or their associates owns an interest, names of any affiliated entities,
date of birth, social security number, primary address and any other addresses of their management team for the past ten (10) years. The Advisor and the Company shall keep all information confidential and shall only use such information for the
purposes of a background check in connection with this Agreement. 

          29.              DIVISION OF FEES BETWEEN GHS AND ARDENT.  The Company shall pay the fees in Section 4(a) through (d) of
this Agreement to GHS, as managing placement agent and Ardent based on the percentages in the following schedule: 

	
Section		 		 		
      GHS 
	 		
      Ardent 
	 		
      Total 
	 
	
Reference		 		 		 		 		 		 		 		 		 		 		 
	 	 	 	 	 	 	 	 	 	 	 	 
	
      4(a) 
	 	 		
60		
%		 		
40		
%		 		
100		
%		 
	 	 	 	 	 	 	 	 	 	 	 	 
	
(b)		 		 		
60		
%		 		
40		
%		 		
100		
%		 
	 	 	 	 	 	 	 	 	 	 	 	 
	
(c)		 		 		
40		
%		 		
60		
%		 		
100		
%		 
	 	 	 	 	 	 	 	 	 	 	 	 
	(d)	 	 	50 	% 	 	50 	% 	 	100 	% 	 

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective 
_______ __, 2007. 

	
The Company:		 		
Fearless International, Inc.	
	 	 	 
	 	 	 
	 		 		By:                                                       
	 		 		     ______________,_____________	
	 	 	 
	 	 	 
	 	 	 
	 		 		By:                                                       
	 		 		     ______________,_____________
	 	 	 
	 	 	 
	
The Advisor:		 		
Global Hunter Securities, LLC – Managing Placement	
	 		 		
Agent	
	 	 	 
	 	 	 
	 	 	 
	 		 		
By:                                                       	
	 		 		
        Gerald L. Mars, Managing Director	
	 	 	 
	 	 	 
	 		 		
Ardent Advisors, LLC	
	 	 	 
	 	 	 
	 	 	 
	 		 		
By:                                                       	
	 		 		
        Brian Corbman, Managing Director	

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