Document:

Confidential

     

    February
      7, 2007

     

    Mr.
      Habib
      Khoury

    President

    g8wave,
      Inc.

    126
      Brookline Ave., Suite 201

    Boston,
      MA 02215

    

    Dear
      Habib:

     

    New
      Century Capital Partners, LLC (“NCCP”) is pleased to provide to you our
      engagement letter to provide to g8wave, Inc. (the “Company”) general financial
      advice and assistance to help facilitate one or more transactions as set forth
      below. We are extremely excited about having the opportunity to work with you
      and your team to assist you in building a dominant, world-class public company.
      

     

    NCCP
      will
      serve as the Company’s financial adviser in connection with one or more of the
      following transactions: (i) a
      possible sale, asset acquisition, merger, business combination or similar
      transaction (“Business Combination”); (ii)
      an
      IPO; and/or (iii) a capital raise in the form of a private placement or PIPE
      (the “Placement”) concurrent with or subsequent to a reverse-merger or similar
      transaction with or into a public shell (a “reverse-merger IPO”). 

     

    It
      is
      understood that execution of this Agreement does not assure the successful
      completion of a Business Combination, IPO, reverse-merger IPO or Placement.
      This
      agreement is not a commitment, express or implied, on the part of NCCP to
      purchase or place any securities and it is acknowledged that any placement
      of
      the securities by NCCP will be made on a “best efforts” basis. 

     

    I.
      Services Rendered

     

    
      	
              1.

            	
              In
                connection with its engagement hereunder, NCCP
                will:

            

    

     

    
      	 	
              a.

            	
              assist
                in the drafting and preparation of presentation materials used in
                connection with investor presentations, and financial projections
                used in
                discussions with Business Combination candidates, or for the purposes
                of
                completing an IPO or reverse-merger
                IPO;

            

    

     

    
      	 	
              b.

            	
              assist
                the Company to decide on pursuing a reverse-merger IPO, a traditional
                IPO,
                a Business Combination, or undertake a dual-path strategy of completing
                both a Business Combination and an IPO, or reverse-merger IPO, in
                order to
                maximize the value of the Company; 

            

    

     

    
      	 	
              c.

            	
              advise
                the Company as to the timing, structure and pricing of a Business
                Combination, IPO, reverse-merger IPO and/or Placement;
                

            

    

     

    
      	 	
              d.

            	
              identify
                and contact prospective bidders in a Business Combination, provided
                that
                the Company’s prior written consent (including consent transmitted via
                email or other electronic means) shall be required before NCCP contacts
                each prospective bidder; and

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              e.

            	
              advise
                the Company as to the strategy and tactics of negotiations with such
                prospective bidders and participate in such negotiations.
                

            

    

     

    II.
      Compensation

     

    
      	
              2.

            	
              As
                compensation for NCCP's services hereunder, the Company hereby agrees
                to
                pay the following fees:

            

    

     

    
      	 	
              a)

            	
              A
                non-refundable cash retainer fee of $30,000 (the “Retainer Fee”), to be
                paid $10,000 upon signing of the engagement letter, $10,000 thirty
                days
                later and $10,000 sixty days later. The Retainer Fee will be credited
                dollar for dollar against any fees payable to NCCP pursuant to Sections
                2(b) through (e) below. 

            

    

     

    
      	 	
              b)

            	
              In
                the case of a Placement, a cash fee (the “Placement Fee”) equal to six
                percent (6%) of the gross proceeds of the securities sold to investors
                in
                the Placement, other than securities purchased by current stockholders
                of
                the Company or investors contacted by such stockholders as listed
                on
                Schedule
                A
                hereto, as such schedule may amended from time to time in good faith
                by
                the parties hereto (the “Excluded Investors”), and the Company shall
                deliver to NCCP warrants (“Warrants”) to purchase that number of shares of
                the Common Stock of the Company (the “Common Stock”) equal to five percent
                (5%) of the number of shares of Common Stock into which the securities
                sold to investors in the Placement, other than the Excluded Investors,
                shall be convertible as of the date of issuance (or if no convertible
                securities are sold, then 5% of the number of shares of Common Stock
                sold
                to investors in the Placement, other than the Excluded Investors).
                The
                Placement Fee and Warrants are payable immediately upon closing of
                the
                Placement. Such Warrants shall have a five (5) year term, an exercise
                price equal to the conversion price per share of the securities sold
                in
                the Placement (or if no convertible securities are sold, then the
                price
                per share of the Common Stock sold in the Placement), and cashless
                exercise provisions. If the Placement is consummated by means of
                more than
                one closing, NCCP shall be entitled to the Placement Fees and Warrants
                provided herein with respect to each such
                closing.

            

    

     

    
      	 	
              c)

            	
              Should
                g8wave
                complete a reverse-merger IPO, NCCP will receive a flat fee of $250,000
                (the “Reverse-Merger Fee”). The Reverse-Merger Fee will be in addition to
                the Placement Fee payable to NCCP, should NCCP raise capital as part
                of
                the reverse-merger IPO for which the Reverse-Merger Fee is
                paid.

            

    

     

    
      	 	
              d)

            	
              Should
                the Company complete a Business Combination with an entity other
                than Paid
                Inc. or the entities listed on Schedule
                B
                (the “Excluded Entities”), NCCP will receive a fee of 2.0% of the
                “Transaction Value” (as defined below) of the Company, up to $20MM; plus
                1.5% of the Transaction Value above $20MM, up to $30MM; plus 1% of
                the
                Transaction Value above $30MM. Notwithstanding this fee schedule,
                NCCP
                will receive a minimum fee of $450,000 payable in cash
                at
                the initial closing of the Business
                Combination.

            

    

     

    
      	 	
              e)

            	
              Should
                the Company complete a Business Combination with Paid Inc., NCCP
                will
                receive a flat fee of $250,000 payable in cash at the initial closing
                of
                the Business Combination with Paid
                Inc.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Transaction
      Value” shall be the Aggregate Consideration (as defined below) paid or received,
      or deemed to be paid or received, in connection with a Business Combination.
      In
      the event of a sale of less than 100% of the equity interests of the Company,
      the Transaction Value shall be calculated as if 100% of the ownership of the
      equity interests of the Company has been sold by dividing (i) the Aggregate
      Consideration by (ii) the percentage of ownership which is sold and the quotient
      thereof shall be the Transaction Value. “Aggregate Consideration” shall be the
      total proceeds and other consideration paid or received (including assets
      retained), or to be paid or received, in connection with a Business Combination
      (which consideration shall be deemed to include amounts in escrow), including,
      without limitation, the fair market value of (i) all cash; (ii) equity
      securities (including but not limited to common stock, preferred stock,
      warrants, options, stock appreciation rights, in each case whether or not vested
      or issued), equity interests, carried interests and equity reinvestment in
      the
      Company (or the resulting entity, in the case of a Business Combination); (iii)
      straight or convertible debt instruments or other obligations held by the
      Company or its shareholders and issued by the acquiring company; (iv) interest
      bearing debt (including capitalized leases) and pension and other unfunded
      liabilities assumed in connection with a Business Combination; (v) assets or
      businesses retained by the Company or distributed to its shareholders; (vi)
      other assets or businesses in which the Company or its shareholders have an
      interest included in the transaction; (vii) amounts paid to the Company or
      its
      shareholders in connection with a non-competition agreement; (viii) lease,
      royalty, licensing or any similar agreement; (ix) amounts paid, at any time
      during the period covered by this Agreement, as extraordinary dividends or
      other
      compensation paid to the Company’s shareholders in contemplation of a Business
      Combination; and (x) any shareholder’s obligations, including transaction
      expenses, which are forgiven or assumed by a purchaser as part of the Business
      Combination. If any portion of the Transaction Value is not readily determinable
      as of the Closing, then the Company and NCCP will mutually determine a dollar
      equivalent by agreement before the Closing. 

     

    If
      certain amounts of the consideration are to be paid at a date or dates after
      the
      closing date of the transaction on an undetermined contingent basis (e.g.,
      earn-outs), then the fee payable to NCCP in connection with such amounts shall
      be calculated and due and payable upon receipt of such amounts by the Company.
      Notwithstanding the foregoing, any consideration deposited into escrow accounts,
      evidenced by promissory notes or other debt instruments or payable in a
      determinable amount in one or more installments after the initial closing
      (regardless of whether such amounts are subject to offset for indemnification
      claims), shall be valued at their full face amount and deemed paid at the
      closing date of the transaction, regardless of when such amount are to be
      released or paid to the Company or its shareholders.

     

    Notwithstanding
      anything to the contrary set forth in this Agreement, NCCP shall not be entitled
      to any fee with respect to any transaction consummated with an Excluded
      Entity.

     

    
      	 	
              3.

            	
              Whether
                or not any transaction contemplated hereunder is consummated, the
                Company
                shall promptly reimburse NCCP
                for all of its reasonable out-of-pocket expenses, incurred in connection
                with its services hereunder, including fees of outside legal counsel
                and
                expenses of travel, printing, shipping/delivery, background checks
                and
                other third-party services, up to a maximum amount of $50,000. A
                reasonably detailed invoice will be submitted to the Company as expenses
                are incurred and shall be paid in 30 days or less to the extent provided
                for in this Agreement. It is anticipated that the Company will engage
                its
                own legal counsel, accountants, and other professionals as required.
                

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              4.

            	
              NCCP's
                engagement hereunder will commence on the date hereof and will continue
                until 12 months after the date hereof, unless extended by mutual
                written
                consent or earlier terminated by either party upon 10 days’ prior written
                notice; provided, however, that no such termination shall affect
                the
                confidentiality obligations of the parties and the right of NCCP
                to
                receive the full Retainer Fee, any other fees set forth in Section
                2 that
                have accrued prior to such termination and reimbursement for its
                out-of-pocket expenses incurred prior to the expiration or termination
                of
                this Agreement as described above. In addition, in the event that
                a
                Business Combination, IPO, reverse-merger IPO or Placement is consummated
                within twelve (12) months of the date of termination of this engagement
                with any party or parties identified or introduced to the Company
                by NCCP
                or with whom the Company had discussions or other contact concerning
                a
                potential transaction during the term of this Agreement, other than
                Excluded Investors or an Excluded Entity, NCCP shall be paid the
                applicable fees set forth in Section 2 above.

            

    

     

    
      	 	
              5.

            	
              The
                Company recognizes and confirms that NCCP will be using information
                in
                reports and other information provided by others, including, without
                limitation, information provided by or on behalf of the Company,
                and that
                NCCP does not assume responsibility for and may rely, without independent
                verification, on the accuracy and completeness of any such information,
                unless it has actual knowledge that such information is materially
                untrue
                or materially incomplete. The Company hereby warrants that any information
                contained in the offering materials used in connection with the engagement
                (excluding any information provided for inclusion therein by NCCP
                or its
                representatives) will not contain any untrue statement of a material
                fact
                or omit to state any material fact necessary to make the statements
                contained therein, in the light of circumstances under which they
                were
                made, not misleading. The Company will afford prospective investors
                and
                bidders acceptable to the Company the opportunity, upon prior notice,
                during normal business hours, to make inquiries relevant to their
                investment decisions, so long as such investors or bidders first
                execute
                and deliver to the Company a confidentiality agreement reasonably
                acceptable to the Company. The Company agrees to provide NCCP and
                the
                investors and bidders introduced by NCCP with prompt notice of any
                material development affecting the Company or the occurrence of any
                event
                or other change known to the Company that could result in any offering
                materials containing an untrue statement of a material fact or omitting
                to
                state any material fact necessary to make the statements contained
                therein, in the light of the circumstances under which they were
                made, not
                misleading, and an amendment or supplement to such offering materials
                that
                will correct such statement or omission. The Company also agrees
                to
                provide NCCP (i) copies of any financial reports as soon as reasonably
                practicable, and (ii) such other information concerning the business
                and
                financial condition of the Company as NCCP may from time to time
                reasonably request during the term of the agreement.
                

            

    

     

    
      	 	
              The
                Company agrees that any information or advice rendered by NCCP or
                its
                representatives in connection with this engagement is for the confidential
                use of the Company and its representatives and advisors only and,
                except
                as otherwise required by law, the Company will not disclose or otherwise
                refer to such advice or information in any manner without NCCP’s prior
                written consent. 

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    NCCP
      agrees (a) to hold and maintain all information provided by or related to the
      Company (“Company Confidential Information”) in strictest confidence and to take
      reasonable precautions to protect such information (including, without
      limitation, all precautions NCCP employs with respect to its confidential
      materials); (b) not to divulge any Company Confidential Information or any
      information derived there from to any third person without prior written consent
      of Company; and (c) except in furtherance of its engagement hereunder, not
      to
      make any use whatsoever at any time of such Company Confidential Information.
      NCCP may make disclosures required by court order or governmental agency,
      provided it uses reasonable efforts to limit disclosure and to obtain
      confidential treatment or a protective order, and provided that Company has
      received prompt notice and the opportunity to participate in the proceeding
      prior to making such disclosure. For purposes of this paragraph, the term
“Company Confidential Information” does not include information that: (a) is or
      becomes generally available to the public or within the public domain (other
      than as a result of acts by NCCP in violation of this Agreement); (b) is or
      becomes available to NCCP from a source (other than Company or any of its
      representatives) which is not prohibited from disclosing such information to
      the
      party receiving such information by a contractual, legal, or fiduciary
      obligation; or (c) was previously independently conceived, discovered, or
      developed by NCCP without access to, or knowledge of, the Company Confidential
      Information.

     

    
      	
              6.

            	
              The
                Company and NCCP each represent to the other that there is no other
                person
                or entity that is entitled to a finder's fee or any type of brokerage
                commission in connection with the transactions contemplated by this
                Agreement as a result of any agreement or understanding with
                it.

            

    

     

    
      	
              7.

            	
              In
                connection with any Placement, the Company will promptly, from time
                to
                time, take such action as may reasonably be required to qualify the
                securities being offered in such Placement for an exemption from
                the
                registration requirements under the securities laws of the United
                States
                and any applicable state. 

            

    

     

    
      	
              8.

            	
              If
                a transaction contemplated hereunder is consummated, NCCP may, at
                its own
                expense, place customary announcements or advertisements in financial
                newspapers and journals describing its services hereunder, provided
                that
                the content of any such announcements or advertisements shall be
                approved
                in writing (including via email) by the Company, which approval shall
                not
                be unreasonably withheld. 

            

    

     

    
      	
              9.

            	
              This
                agreement is governed by the laws of the State of California, U.S.A.
                without regard to conflicts of law principles. The Company and NCCP
                agree
                to waive trial by jury in any action, proceeding or counterclaim
                brought
                by or on behalf of either party with respect to any matter whatsoever
                relating to or arising out of any actual or proposed transaction
                or the
                engagement of or performance by NCCP hereunder. All issues and questions
                concerning the construction, validity, enforcement and interpretation
                of
                this Agreement and any related agreements, schedules and exhibits
                entered
                into between the Company and NCCP in connection herewith shall be
                governed
                by, and construed in accordance with, the laws of the State of California
                without giving effect to any choice of law or conflict of law rules
                or
                provisions (whether of the State of California or any other jurisdiction)
                that would cause the application of the laws of any jurisdiction
                other
                than the State of California. All judicial proceedings brought by
                or
                against the Company or NCCP or their respective stockholders or affiliates
                with respect to this agreement, any related agreement or the engagement
                may be brought in any state or federal court of competent jurisdiction
                in
                Los Angeles County, California. By execution and delivery of this
                agreement, the Company and NCCP accepts for itself and in connection
                with
                its properties, generally and unconditionally, the exclusive jurisdiction
                of the aforesaid courts, and irrevocably agrees to be bound by any
                judgment rendered thereby in connection with this agreement. The
                Company
                and NCCP hereby waive any claim that such jurisdiction is an inconvenient
                forum or an improper forum based on lack of
                venue.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              10.

            	
              The
                Company acknowledges that NCCP is acting as an independent contractor
                in
                connection with its engagement hereunder and not in any other capacity
                including as a fiduciary. NCCP shall render the services hereunder
                in a
                professional manner consistent with industry practice. Neither this
                engagement nor the delivery of any advice in connection with this
                engagement is intended to confer rights upon any persons that are
                not a
                party hereto.

            

    

     

    
      	
              11.

            	
              All
                notices provided hereunder shall be given in writing and either delivered
                personally or by overnight courier service or sent by certified mail,
                return receipt requested, if to New Century Capital Partners, 1999
                Ave. of
                the Stars, Suite 1100, Los Angeles, CA 90067, Attention: Mark J.
                Salter,
                with a copy to Attention: Office of General Counsel, and if to g8wave,
                Inc., 126 Brookline Ave., Suite 201 Boston, MA 02215, Attention:
                Habib
                Khoury. Any notice delivered personally shall be deemed given upon
                receipt; any notice given by overnight courier shall be deemed given
                on
                the next business day after delivery to the overnight courier; and
                any
                notice given by certified mail shall be deemed given upon the second
                business day after certification
                thereof.

            

    

     

    
      	
              12.

            	
              The
                Company acknowledges that NCCP is an advisory/investment banking
                firm and
                as such engages in a broad range of securities activities and financial
                services and does not and will not be working exclusively for the
                Company
                in the industry which is the subject of this engagement, and agrees
                that
                it does not now nor will the Company in the future object to such
                non-exclusivity to the Company under this Agreement or
                otherwise.

            

    

     

    
      	
              13.

            	
              It
                is specifically understood that the Company will not base its decisions
                solely on NCCP’s advice, but will also rely on the advice of the Company’s
                legal, tax and other business advisors and such other factors that
                it or
                they consider appropriate.

            

    

     

    
      	
              14.

            	
              The
                Company and NCCP have entered into a separate letter agreement, dated
                the
                date hereof, providing for the indemnification of NCCP in connection
                with
                NCCP’s engagement hereunder, the terms of which are incorporated into
                this
                agreement in their entirety.

            

    

     

    
      	
              15.

            	
              This
                Agreement shall not give rise to any express or implied commitment
                by NCCP
                to purchase or place any securities of the
                Company.

            

    

     

    
      	
              16.

            	
              Simultaneous
                Engagement; Waiver.
                As you are aware, we have also been retained by Paid Inc. as its
                financial
                advisor in connection with a potential Business Combination transaction
                with the Company. In order to avoid potential conflicts of interest
                that
                may arise as a result of this simultaneous engagement, our role in
                connection with a potential Business Combination with Paid, Inc.
                shall be
                that of a facilitator and not a proponent for either the Company
                or Paid,
                Inc. We will not engage in any activities for the benefit of one
                party
                that are detrimental to the other party. As a result, the services
                we
                provide to you in connection with a Business Combination with Paid,
                Inc.
                may be limited. By executing and returning a copy of this Agreement,
                you
                specifically agree to our representation of Paid, Inc. and specifically
                waive any actual or potential conflict of interest that may arise
                as a
                result of such simultaneous engagement. 

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    We
      look
      forward to working with you on this important engagement. Please confirm that
      the foregoing is in accordance with your understanding of our agreement by
      signing and returning to us a copy of this letter.

     

    Very
      truly yours, New Century Capital Partners

     

    
      
        	By	
                /s/
                  Mark Salter

              
	 	
                Mark
                  Salter

              
	 	Managing
                Director

      

    

    

    Accepted
      and agreed to as of

    The
      date
      set forth above:

    

    g8wave,
      Inc.

    

    
      	By  	
              /s/
                Habib Khoury

            
	 	
              Habib
                Khoury

            
	 	
              President 

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Schedule
      A

    

    Excluded
      Investors

    

    [TO
      BE
      LISTED]

    

    Schedule
      B

    

    Excluded
      Entities

    

    [TO
      BE
      LISTED]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    February
      7, 2007

    

    NEW
      CENTURY CAPITAL PARTNERS LLC

    

    Ladies
      and Gentlemen:

     

    In
      connection with the engagement by letter agreement of even date of New Century
      Capital Partners LLC (“NCCP”) to assist us with the
      potential investment in or business combination involving the
      Company,
      including modifications or future additions to such engagement and related
      activities prior to the date of this agreement (the “engagement”), we agree that
      we will indemnify and hold harmless you and your affiliates and their respective
      directors, officers, agents and employees and each other person controlling
      (within the meaning of the Securities Exchange Act of 1934, as amended) you
      or
      any of your affiliates (collectively, the “indemnified parties”), to the full
      extent lawful, from and against any losses, expenses, claims or proceedings
      (collectively, “losses”) (i) related to or arising out of oral or written
      information provided by us, our employees or our other agents, which information
      either we or you (with our prior written consent, including via email) provide
      to any actual or potential buyers, sellers, investors or offerees, or (ii)
      otherwise related to or arising out of the engagement or any transaction or
      conduct in connection therewith, except with respect to any losses to the extent
      such losses have resulted from the gross negligence, bad faith or willful
      misconduct of any indemnified party.

     

    In
      the
      event that the foregoing indemnity is held by a court of competent jurisdiction
      to unenforceable as against public policy with respect to any indemnified party,
      we agree to contribute to any losses that would otherwise be indemnifiable
      pursuant to the foregoing paragraph in such proportion as is appropriate to
      reflect the relative benefit to and fault by indemnified parties, on the one
      hand, and to and by us and our security holders, on the other hand, from the
      actual or proposed transaction arising in connection with the engagement.
      Benefits received by us and our security holders shall be deemed to be equal
      to
      the aggregate cash consideration and value of securities or any other property
      payable, issuable, exchangeable or transferable in such transaction or proposed
      transaction, and benefits received by an indemnified party shall be deemed
      to be
      equal to the compensation paid by us to such indemnified party in connection
      with the engagement (exclusive of amounts paid for reimbursement of expenses).
      Relative fault shall be determined by reference to, among other things, whether
      any alleged untrue statement or omission or any other alleged conduct relates
      to
      information provided by us or other conduct by us (or our employees or other
      agents), on the one hand, or by an indemnified party, on the other hand. You
      and
      we agree that it would not be just and equitable if contribution were determined
      by pro rata allocation or by any other method of allocation that does not take
      account of the equitable considerations referred to above. Notwithstanding
      anything to the contrary above, in no event shall you be responsible for any
      amounts in excess of the amount of the compensation actually paid by us to
      you
      in connection with the engagement (exclusive of amounts paid for reimbursement
      of expenses).

     

    NCCP
      agrees to notify the Company promptly after receipt of notice of any claim
      or
      the commencement of any action or proceeding with respect to which an
      indemnified party intends to seek indemnification hereunder. We shall, at our
      election, have the right to assume the defense of any such claim, action or
      proceeding. We agree that we will not, without prior written consent of NCCP,
      settle any pending or threatened claim for which we have assumed the defense
      unless such settlement includes a provision unconditionally releasing you and
      each other indemnified party from, and holding all such persons harmless
      against, all liability in respect of claims by any releasing party related
      to or
      arising out of the engagement or any transactions or conduct in connection
      therewith. We shall not be liable for any settlement of any such action or
      proceeding if such settlement is effected without our written consent not to
      be
      unreasonably withheld. We will also promptly reimburse each indemnified party
      for all reasonable out of pocket expenses (including reasonable counsel fees
      and
      expenses) as they are incurred by such indemnified party in connection with
      investigating, preparing for, defending, or providing evidence in, any pending
      or threatened claim or proceeding related to or arising out of the engagement
      or
      any actual or proposed transaction or other conduct in connection therewith
      or
      otherwise in respect of which we have indemnification or contribution
      obligations hereunder (whether or not you or any indemnified party is a party
      to
      such claim or proceeding) or in successfully enforcing this
      agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    We
      further agree that no indemnified party shall have any liability (whether direct
      or indirect, in contract or tort or otherwise) to us or any of our affiliates,
      officers, directors, employees, creditors or security holders for or in
      connection with the engagement or any actual or proposed transactions or other
      conduct in connection therewith except for losses incurred by such parties
      to
      the extent such losses are finally judicially determined to have resulted from
      the gross negligence, bad faith, or willful misconduct of such indemnified
      party.

     

    The
      foregoing agreement is in addition to any rights we or you may have at common
      law or otherwise and shall be binding on and inure to the benefit of any
      successors, permitted assigns, and personal representatives of us, you, and
      each
      indemnified party. This agreement is governed by the laws of the State of
      California, without regard to such state’s rules concerning conflicts of laws.
      Any right to trial by jury with respect to any claim or proceeding related
      to or
      arising out of this Agreement is waived. This agreement shall remain in full
      force and effect notwithstanding the completion or termination of the
      engagement.

     

    
      	Very
              truly yours, 
	 
	G8WAVE,
              INC
	 
	 By: 	
              /s/
                Habib Khoury

            
	 	    Habib
              Khoury 
	 	    President 

    

     

    
      	Agreed: 
	 
	NEW
              CENTURY CAPITAL PARTNERS LLC. 
	 
	By  	/s/
              Mark J. Salter 
	 	Mark
              J. Salter 
	 	Managing
              DirectorMarch
      29,
      2007

    

    Via
      Electronic Mail (msalter@newcenturycap.com)

    New
      Century Capital Partners

    Attention:
      Mark J. Salter

    1999
      Ave.
      of the Stars, Suite 1100 

    Los
      Angeles, California 90067

    

    Dear
      Mark:

    

    G8Wave,
      Inc. (the “Company”)
      and
      New Century Capital Partners LLC (“NCCP”)
      are
      parties to an engagement letter, dated February 7, 2007 (the “Engagement Letter”),
      pursuant to which the Company has engaged NCCP to provide certain investment
      banking services to the Company. Capitalized terms used, but not specifically
      defined herein, shall have the respective meanings set forth in the Engagement
      Letter. 

    

    Effective
      as of the date hereof, the parties hereby agree to amend the Engagement Letter
      as set forth herein. Except as expressly amended herein, all other terms and
      conditions of the Engagement Letter are hereby ratified, affirmed, and in full
      force and effect. 

    

    1. Section
      2(b) of the Engagement Letter is hereby deleted and replaced in its entirety
      with the following:

    

    “In
      the
      case of a Placement, a cash fee equal to six percent (6%) of the gross proceeds
      of the securities
      sold to
      investors
      first
      introduced to the Company
      by NCCP
      (the “Placement Fee”), and the Company shall deliver to NCCP warrants
      (“Warrants”) to purchase that number of shares of the Common Stock of the
      Company (the “Common Stock”) equal to five percent (5%) of the number of shares
      of Common Stock into which the securities
      sold to
      investors
      first
      introduced to the Company
      by NCCP
      shall be convertible as
      of the
      date of issuance (or
      if no
      convertible securities are sold, then five percent (5%) of the number of shares
      of Common Stock sold to investors first
      introduced to the Company by
      NCCP),
      as of
      the date of issuance.
      The
      Placement Fee and Warrants are payable immediately upon closing of the
      Placement. Such Warrants shall contain substantially similar terms to those
      sold
      to investors in the Placement or, if no warrants are sold to investors in the
      Placement, such Warrants shall have a five (5) year term, an exercise price
      equal to the conversion price per share of the securities sold in the Placement
      (or if no convertible securities are sold, then the price per share of the
      Common Stock sold in the Placement), and cashless exercise provisions. If the
      Placement is consummated by means of more than one closing, NCCP shall be
      entitled to the Placement Fees and Warrants provided herein with respect to
      each
      such closing.”

    
      
         

        
        

      

      
        
        

        
          

        

      

      
        
        

        New
          Century Capital Partners

        March
          29,
          2007

        Page
          2

      

    

    

    2. Section
      4
      of the Engagement Letter is hereby deleted and replaced in its entirety with
      the
      following:

    

    “NCCP's
      engagement hereunder will commence on the date hereof and will continue until
      12
      months after the date hereof, unless extended by mutual written consent or
      earlier terminated by either party upon 10 days’ prior written notice; provided,
      however, that no such termination shall affect the confidentiality obligations
      of the parties and the right of NCCP to receive the full Retainer Fee, any
      other
      fees set forth in Section 2 that have accrued prior to such termination and
      reimbursement for its out-of-pocket expenses incurred prior to the expiration
      or
      termination of this Agreement as described above. In addition, in the event
      that
      a Business Combination, IPO, or reverse-merger IPO is consummated within twelve
      (12) months of the date of termination of this engagement with any party or
      parties identified or introduced to the Company by NCCP or with whom the Company
      had discussions or other contact concerning a potential transaction during
      the
      term of this Agreement, NCCP shall be paid the applicable fees set forth in
      Section 2 above. In the event that a Placement is consummated within twelve
      (12)
      months of the date of termination of this engagement with any party or parties
      first introduced to the Company by NCCP during the term of this Agreement,
      NCCP
      shall be paid the applicable fees set forth in Section 2 above.”

    

    3. Section
      6
      of the Engagement Letter is hereby deleted and replaced in its entirety with
      the
      following: 

    

    “The
      Company and NCCP each represent to the other that there is no other person
      or
      entity that is entitled to a finder's fee or any type of brokerage commission
      in
      connection with the transactions contemplated by this Agreement as a result
      of
      any agreement or understanding with it. Notwithstanding the foregoing, the
      Company shall have the right to engage one or more placement agents in
      connection with a reverse-merger IPO or Placement.” 

     

    [Signature
      Page to Follow]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        New
          Century Capital Partners

        March
          29,
          2007

        Page
          3

      

    

    If
      this
      letter is in accordance with your understanding, please sign and return a copy
      to me at your earliest convenience.

     

    Very
      truly yours,

    

    
      	G8Wave,
              Inc. 
	 
	 
	By: 	/s/
              Habib Khoury
	 	Habib
              Khoury, President 
	 
	 
	
              Agreed,
                Approved and Accepted as of March 29, 2007: 

            
	 
	New
              Century Capital Partners LLC
	 
	 
	By:	/s/
              Mark Salter
	 	Mark
              Salter, Managing Director

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