Document:

Exhibit

SEPARATION AGREEMENT

THIS SEPARATION AGREEMENT (the "Agreement"), is being entered into by and between Mark Burns (the "Employee"), and Ensco plc ("Ensco" or the "Company").

WHEREAS, Ensco has informed Employee that Employee’s employment will terminate as a result of Ensco’s restructuring of its management team; and

WHEREAS, the parties desire to set forth the duties and responsibilities with respect to Employee’s continued employment with the Company prior to the date of Employee’s separation; and 

WHEREAS, the parties desire to achieve a final and amicable resolution of the employment relationship in all its aspects and intend that this Agreement shall govern all issues related to Employee’s employment with and separation from the Company.

NOW, THEREFORE, Employee and the Company, for and in consideration of the foregoing recitals and the terms and conditions set forth in this Agreement, agree as follows:

I. DEFINITIONS

1.1    "Board" means the board of directors of the Company, as duly elected from time to time.  

		
	1.2
	"Cause" shall mean (i) the willful and continued failure of the Employee to perform substantially the Employee’s duties and obligations (other than any such failure resulting from bodily injury or disease or any other incapacity due to mental or physical illness), (ii) gross misconduct by the Employee, (iii) the willful and material breach by the Employee of any Ensco policies or the Company’s Code of Conduct, or (iv) the conviction of the Employee by a court of competent jurisdiction, from which conviction no further appeal can be taken, of a felony-grade crime involving moral turpitude; provided, however, that in any of the aforementioned cases the cessation of employment of the Employee shall not be deemed to be for Cause unless and until there shall have been delivered to the Employee a resolution duly adopted by the Board specifying that the Employee is being terminated for Cause. 

		
	1.3
	"Committee" means the Compensation Committee of the Board, the Executive Compensation Subcommittee of the Compensation Committee of the Board or such other Committee or subcommittee as may be appointed by the Board from time to time, which shall be comprised solely of two or more persons who are disinterested directors within the meaning of the 2012 LTIP.

		
	1.4
	"Company" means and includes Ensco plc, and all of its predecessors, successors, parents, subsidiaries, divisions, affiliated companies, owners, members, partners, partnerships, assigns, officers, directors, employees, insurers, shareholders, agents, employee benefit plans and plan fiduciaries, whether in their individual or official capacities.

		
	1.5
	"Competing Business" means any business activities that (i) involve providing offshore drilling services to the international oil and gas industry, (ii) compete with the products or services being provided by the Company and/or under active development by the Company 

during Employee’s employment that involve or relate to offshore drilling, or (iii) are so similar in nature that they would displace business opportunities or customers of the Company.

		
	1.6
	"Confidential Information" includes, without limitation, all of the Company’s technical and business information, whether patentable or not, which is of a confidential, trade secret or proprietary character, and which has been or is being developed by Employee alone, with others or by others; marketing information; the identity of customers and customer contacts; the identity of prospective customers and prospective customer contacts; any terms, conditions, guidelines or other information pertaining to the Company’s contracts, whether such contracts are expired, current or prospective; bidding information, processes and strategies; pricing methods and cost information; procedures, systems, forms and techniques used in monitoring the business; financial information; information regarding the Company’s claims and contingencies, including the Company’s position and strategy with respect to any disputes; the Company’s investments, programs, plans, manners and methods of operation, negotiating positions and strategies, and other information regarding potential strategic alliances; organizational charts; identities, credentials, contact information or whereabouts of employees and contractors; tax structures; governance structures; information regarding the Company’s joint ventures and other business partners, including, without limitation, its intermediaries and agents; and other information or documents that the Company requires to be maintained in confidence; provided, however, that it does not include information that is in the public domain or becomes part of the public domain through no fault of Employee.

1.7    "Effective Date" means the date on which this Agreement is executed by the parties hereto.
 
		
	1.8
	"Permanent and Total Disability" means that an individual is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months.  An individual shall not be considered to suffer from Permanent and Total Disability unless such individual furnishes proof of the existence thereof in such form and manner, and at such times, as the Board or the Committee may reasonably require.

		
	1.9
	"2005 ECIP” means the Company’s 2005 Cash Incentive Plan, as amended from time to time.  

  
		
	1.10
	"2005 LTIP" means the Company’s 2005 Long-Term Incentive Plan, as amended from time to time.  

		
	1.11
	“2012 LTIP” means the Company’s 2012 Long-Term Incentive Plan, as amended from time to time.  

II. CONTINUED EMPLOYMENT

		
	2.1
	Employee shall have twenty-one (21) calendar days after the date this Agreement was furnished to him to consider whether to sign this Agreement.  In consideration for Employee's execution of and compliance with this Agreement, including but not limited to the provisions of Article V, the Company shall provide the consideration set forth in this Article II and Article 

III.  The Company's obligation to make any further payments, provide benefits, or continue to employ Employee under this Agreement shall cease in the event that Employee revokes his execution of this Agreement or fails to comply with the terms of this Agreement.
  
		
	2.2
	From the Effective Date until 31 December 2015 (the "Employment Period"), Employee shall continue to serve as Executive Vice President and Chief Operating Officer of the Company, subject to the terms of this Agreement; provided, at the discretion of the Company, Employee shall cease to serve as Chief Operating Officer on the date specified by the Company, but the last day of the Employment Period shall remain as 31 December 2015. 

		
	2.3
	During the Employment Period, Employee agrees that he will at all times faithfully, industriously and to the best of his ability, experience and talents, perform all of the duties that may be required of and from him by the Company.  

		
	2.4
	During the Employment Period, Employee shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by Employee in the performance of his duties hereunder in accordance with the policies of the Company.  Notwithstanding anything to the contrary in this Agreement or in any Company policy with respect to such payments, in-kind benefits and reimbursements provided under this Agreement that would result in taxable compensation income to Employee during any tax year of Employee shall not affect in-kind benefits or reimbursements to be provided in any other tax year of Employee and are not subject to liquidation or exchange for another benefit.  Notwithstanding anything to the contrary in this Agreement, reimbursement requests must be timely submitted by Employee and, if timely submitted, reimbursement payments shall be made to Employee as soon as administratively practicable following such submission in accordance with the Company’s policies regarding reimbursements, but in no event later than the last day of Employee's taxable year following the taxable year in which the expense was incurred.  

		
	2.5
	During the Employment Period, the Company shall pay Employee base salary of $51,666.67 per month. 

		
	2.6
	During the Employment Period, Employee shall continue to be eligible for, and to receive, all compensation and benefits available to executive officers, including, but not limited to, all contributions under the 2005 Supplemental Executive Retirement Plan (the “SERP”), the Ensco Savings Plan (including, but not limited to, the profit sharing provisions thereof), and medical, life and disability insurance and other benefits and insurance coverage, on the same basis as other executive officers.  For the avoidance of doubt, the Company confirms that Employee has fully nonforfeitable interests in his accrued benefits earned under the SERP and the Ensco Savings Plan, including in all cases any deferrals or Company contributions thereunder made through the end of the Employment Period.

		
	2.7
	Effective on the last day of the Employment Period, Employee shall be terminated as an employee of the Company, and, upon compliance with the provisions of this Agreement, Employee shall be entitled to the payments and benefits provided in this Agreement.

		
	2.8
	Because Employee is a United States citizen who has been performing services in the United Kingdom, Employee may be subject to personal income taxation in both the United States and the United Kingdom.  In order to protect Employee from double taxation, Employee shall be entitled to a tax equalization payment compensating Employee for any excess of foreign 

taxes over the amount of U.S. federal and state taxes Employee would have paid if he had remained an employee in the United States such that the after tax amount actually retained by Employee is equal to the after tax amount Employee would have retained if he had been an employee in the United States (“Tax Equalization Payment”).  The Company shall pay for the cost associated with the preparation of Employee’s tax returns and the resolution of any tax issues that may result from payment received as a result of Employee’s employment with the Company in the United Kingdom in the same manner and to the same extent that the Company provides this benefit to other executives of the Company.  It is Employee’s responsibility to file returns and provide any required documentation on a timely basis to comply with U.S. expatriate tax laws as well as the tax laws of the United Kingdom.  The Company shall neither be responsible nor reimburse Employee for any penalties or interest assessed to or incurred by Employee resulting from or attributable to Employee’s failure to timely file any return or timely provide any required information or documentation.  Notwithstanding anything herein to the contrary, the Tax Equalization Payment provided in this Section 2.8 will only apply with respect to payments and other compensation Employee has received and will receive from the Company and will apply to: (i) any tax periods in which Employee has received or will receive any such payments or other compensation from the Company and (ii) any tax periods in which Employee is subject to taxation in the United Kingdom in respect of his employment with the Company.  For the avoidance of doubt, Employee will be entitled to the Tax Equalization Payment under this Section 2.8 without regard to the reason his employment terminates.  Notwithstanding anything in this Section 2.8 or otherwise in this Agreement, all payments under this Section 2.8 shall be paid no later than the end of the second taxable year of Employee beginning after the taxable year of Employee in which Employee's U.S. Federal income tax return is required to be flied (including any extensions) for the year to  which the compensation subject to the Tax Equalization Payment relates, or, if later, the second taxable year of Employee beginning after the latest such taxable year in which Employee's foreign tax return or payment is required to be filed or made for the year to which the compensation subject to the Tax Equalization Payment relates.  This Section 2.8 is intended to comply with the requirements of Treas. Reg. section 1.409A-1(b)(8)(iii) to cause all payments made under this Section 2.8 to not be treated as a deferral of compensation for purposes of I.R.C. §409A, and the terms of this Section 2.9 shall be implemented in a manner to result in such treatment. 

		
	2.9
	The Company agrees to repatriate the Employee to the United States in accordance with the current written procedures of the Company.  Company shall grant Employee thirty (30) days subsequent to the end of the Employment Period to arrange for return of Employee’s personal effects to the United States, during which period the Company shall reimburse expenses incurred by Employee in connection with continued use of the Company provided housing and other repatriation expenses consistent with the current written procedures of the Company.

		
	2.10
	If, prior to the last day of the Employment Period, Employee’s employment with the Company is terminated due to death or Permanent and Total Disability, then the Company shall be obligated to pay and provide all of the payments on benefits specified in this Article II and in Article III hereof to Employee (or to Employee’s spouse and eligible dependents in the event of his death) pursuant to the terms of this Agreement.

		
	2.11
	Notwithstanding any provision in this Agreement to the contrary, if, prior to 31 December 2015, Employee voluntarily resigns his employment with the Company or the Company 

terminates Employee for Cause, then the Company shall not be obligated to pay or provide further any of the payments and benefits specified in this Article II or any of the payments or benefits specified in Article III hereof.

III. SEPARATION PACKAGE

		
	3.1
	Not later than thirty (30) business days after the last day of the Employment Period, the Company will pay Employee all regular pay due through his last day of employment, less withholdings required by state and/or federal law.  Employee agrees that this payment includes all accrued employment benefits payable to Employee, including without limitation all salary, wages, compensation, accrued and unpaid vacation leave, and any other paid time off earned and owed through his last day of employment.   

 
		
	3.2
	In recognition of Employee’s past service to Ensco, and provided Employee executes and does not revoke a release in the form attached hereto as Exhibit A and subject to Employee’s continued compliance with the Restrictive Covenants specified in Section 5.7, Ensco shall pay the Employee the amount of $620,000.00, less all required federal (including payroll), state, or local income tax withholding (the “Separation Payment”).  The Separation Payment shall be paid in a single lump sum on January 30, 2016. 

		
	3.3
	As a result of Employee’s separation from Ensco, Employee will not be eligible to receive a severance benefit under any Company severance plan, policy, or program, including a bonus under the 2005 ECIP for 2015.   However, as further recognition of Employee’s past service to Ensco, and provided Employee executes and does not revoke a release in the form attached hereto as Exhibit A and subject to Employee’s continued compliance with the Restrictive Covenants specified in Section 5.7 and approval of the Board, Ensco will make a discretionary payment (the “Supplemental Separation Payment No. 1”) by reference to Employee’s 2015 target annual performance bonus and determine the actual amount of the Supplemental Separation Payment No. 1 by comparing the actual level of performance to the specific targets related to the performance goals and individual performance goals.  Subject to approval of the Board, the Supplemental Separation Payment No. 1 shall be paid on April 1, 2016, or within ten (10) business day thereafter. 

		
	3.4
	As a result of Employee’s separation from Ensco, all of Employee’s unvested restricted stock granted under the 2012 LTIP will be forfeited as of the last day of the Employment Period.  However, as further recognition of Employee’s past service to Ensco and provided Employee executes and does not revoke a release in the form attached hereto as Exhibit A and subject to Employee’s continued compliance with the Restrictive Covenants specified in Section 5.7, Ensco will pay the Employee a discretionary payment of $1,337,786.00 (the “Supplemental Separation Payment No. 2).  The Supplemental Separation Payment No. 2 shall be paid on December 31, 2016. 

		
	3.5
	In exchange for the mutual promises contained herein and subject to continued compliance with the Restrictive Covenants specified in Section 5.7, effective on the last day of the Employment Period, the Company represents to Employee that the Committee will take all actions pursuant to the provisions of the 2012 LTIP that are necessary: (i) to waive the continued employment requirement of Sections 10(b) and 15((a)(iii) of the 2012 LTIP with respect to all of the performance unit awards granted after 2012 to Employee under the 

2012 LTIP and (ii) for each such performance unit award to be determined on a pro-rata basis for the applicable performance period by comparing the actual level of performance to the specific targets related to the performance goals established by the Committee for Employee for that performance period and then multiplying that amount by a fraction, the numerator of which is the number of days in the performance period that had elapsed as of the last day of the Employment Period and the denominator of which is the total number of days in the performance period; provided, however, that any such performance unit awards shall not be paid or settled until the original vesting date specified in the performance unit award agreements under which they were granted, and the accrued aggregate dividend equivalents attributable to each such amount shall be made at the time specified in the applicable performance unit award agreements.  Employee shall not be eligible for the grant of any additional award or awards under the 2012 LTIP. 

		
	3.6
	Employee may exercise, trade or otherwise divest vested NSOs in accordance with the 2005 LTIP and the specific NSO award agreements, provided that each NSO shall remain exercisable by Employee for a period ending on the earlier of (i) the second anniversary of the last day of the Employment Period, or (ii) the last day of the term of the NSO.  

		
	3.7
	In addition to the foregoing payments, in consideration for Employee’s past service and provided Employee executes and does not revoke a release in the form attached hereto as Exhibit A, subject to Employee’s continued compliance with the Restrictive Covenants specified in Section 5.7, pursuant to Consolidated Omnibus Budget Reconciliation Act (“COBRA”), Employee will be eligible to continue coverage in the employer-provided medical, dental and vision plans available to Ensco’s employees. If Employee elects to have COBRA coverage, for a period of twelve (12) months the Employee will only be responsible for paying the applicable premiums for the cost of all such coverages at a rate not to exceed the cost to active employees of Ensco.  Notwithstanding the foregoing, during such twelve (12) month period the Employee shall pay the full cost (i.e., the full COBRA premium rate or such other rate reasonably determined by Ensco) of the coverages as determined under the then current practices of Ensco on a monthly basis and Ensco will reimburse the Employee the excess of such costs, if any, above the then active employee cost for such coverages.

		
	3.8
	In addition to the foregoing payments, in consideration for Employee’s past service and provided Employee executes and does not revoke a release in the form attached hereto as Exhibit A, Ensco shall also provide the Employee with twelve (12) months of outplacement services.

		
	3.9
	The parties acknowledge that the Separation Package described in this Article III constitutes a reasonable settlement or compromise to any amount which Employee may claim or be entitled to as part of Employee's employment and/or as a result of the termination of Employee's employment with the Company, and the parties acknowledge that the consideration set forth in this Agreement constitutes additional consideration above and beyond which Employee is or otherwise would be entitled.

IV. GENERAL TERMS

		
	4.1
	On the last day of the Employment Period or Employee’s termination for Cause, Employee will cease to be employed by the Company, and will end all legal relationships with the Company, however denominated.

		
	4.2
	Employee and the Company agree to report, for income tax purposes, the payment and receipt of the Separation Package.  Each party shall bear their respective tax liabilities, if any, arising from this Agreement.

		
	4.3
	It is expressly understood and agreed that any liability claimed by Employee is disputed and denied, and that this Agreement is not to be construed as an admission of liability by the Company, as any and all liability, except as stated in this Agreement, is expressly denied.

		
	4.4
	Employee acknowledges and understands that he is waiving any and all rights or claims Employee may have arising out of Employee's employment relationship or service with/to the Company and/or termination thereof which arises on or before the date Employee executes this Agreement.   

		
	4.5
	Any incentive-based compensation paid or payable to Employee under this Agreement, or under any other agreement or compensation plan or arrangement of the Company that is referred to in this Agreement, shall be subject to any recovery, clawback, or recoupment policy applicable to current or former executive officers of the Company that is adopted by the Company in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act or any other law, any governmental regulation, or any stock-exchange listing requirement to which the Company is subject.

		
	4.6
	The Deed of Indemnity signed by Employee shall continue in effect in all respects during the Employment Period and for such periods of time following the end of the Employment Period as are established in Section 15 of such Deed of Indemnity.  Further, Employee will be entitled to the benefit of any insurance policies the Company maintains for the benefit of its officers and directors against all liabilities, claims, costs, charges and expenses incurred in connection with any action, suit or proceeding to which he may be made, or threatened to be made, a party, witness or other participant by reason of being an officer or employee of the Company.  Additionally, if the Company fails to administer any provision of this Agreement consistent with its terms and intent, the Company shall indemnify Employee fully for any costs or other liability to Employee, other than legal fees, resulting from such error.

V. COVENANTS OF EMPLOYEE

		
	5.1
	Subject to the provisions of Section 5.5 below, Employee for Employee, Employee's heirs, executors, spouse, guardians, administrators, and successors and assigns, and anyone who has or had rights by or through Employee, hereby fully and forever releases, acquits and discharges the Company of and from any and all actual or potential claims, demands, complaints, judgments, charges or grievances, damages, expenses, attorney's fees, actions and causes of action which Employee can, shall or may have arising out of or in any way relating, directly or indirectly, to any act, omission, or conduct whatsoever, by or attributable to the Company or any of its subsidiaries, divisions, or affiliated companies, or any of their 

respective owners, members, partners, assigns, officers, directors, employees, insurers, shareholders, agents, employee benefit plans or plan fiduciaries, whether in their individual or official capacities, which may have occurred or has been committed in the past or present up to and including the date Employee executes this Agreement, whether such actual or potential claims demands, actions, causes of action, charges, or grievances are known or unknown, whether pending or threatened, whether matured or inchoate, whether accrued or unaccrued, whether now existing or hereafter arising, related in any way to the relationship of Employee with the Company or the termination of such relationship, and as to any matter which could have been asserted in any suit, arbitration, tribunal, quorum, proceeding, committee, agency, department, or body, whether it be state, federal, or local, and whether the nature of it be adjudicatory, legislative, executive, or otherwise.

		
	5.2
	Employee covenants that this Agreement includes, but is not limited to, a release of any claim for monetary damages or relief arising out of or related to the following:  (i) any claim for any wages, salary, compensation, vacation pay, paid leave or other remuneration of any kind; (ii) any claim for additional or different compensation or benefits of any sort; (iii) any claim of retaliation or discrimination on the basis of race, sex, religion, marital status, sexual preference, age, national origin, handicap or disability, veteran status, or special disabled veteran status; (iv) any claim arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Equal Pay Act, the Age Discrimination in Employment Act of 1967, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, the Family and Medical Leave Act, the Fair Labor Standards Act of 1938, the Sarbanes-Oxley Act, the Dodd-Frank Act, the Texas Commission on Human Rights and/or the Equal Employment Opportunity Commission, and any amendments to such statutes; (v) any and all state wage payment and unemployment laws; (vi) any claim arising out of or related to an express or implied employment contract, any other contract affecting terms and conditions of employment, or a covenant of good faith and fair dealing; (vii) any claim for personal injury or property damage; (viii) any claim for defamation, invasion of privacy, negligence, breach of fiduciary duty, fraud or misrepresentation; (ix) any claim arising under any anti-retaliation or whistleblower provisions of any state or federal law; (x) any claim based on any other federal and/or state laws and/or regulations related to and/or addressing employment and separation from employment; and (xi) any claim based on any other statutory prohibition or any other tort.

		
	5.3
	Employee represents that Employee has read and understands this Agreement  and the release of claims agreed to herein and that rights and claims under the Age Discrimination in Employment Act of 1967, as amended, and the Older Workers Benefits Protection Act, as amended, are among the rights and claims against the Company that Employee is releasing.

		
	5.4
	Employee is not releasing any rights or claims arising after the date that Employee executes this Agreement; provided, however, that Employee acknowledges and agrees that the release contained herein includes any claims related to his separation from employment with the Company.   

		
	5.5
	Notwithstanding anything to the contrary provided in this Article V, Employee is not releasing any right to: (i) any vested benefit under any employee benefit plan, as defined by the Employee Retirement Income Security Act of 1974, as amended, (ii) any rights to COBRA continuation coverage, or (iii) any rights provided in this Agreement.  Further, nothing in this 

Agreement shall affect the Equal Employment Opportunity Commission's ("EEOC") rights and responsibilities to enforce any law under its jurisdiction, nor shall anything in this Agreement be construed as a basis for interfering with Employee's right to file a timely charge with, or participate in an investigation or proceeding conducted by, the EEOC or any other fair employment practices agency; provided, however, if the EEOC or any other agency or person  commences an investigation or pursues any type of claim on Employee's behalf, Employee specifically waives and releases his right, if any, to recover any monetary or other benefits of any sort whatsoever arising from any such investigation or claim, nor will Employee seek or accept reinstatement to his former position with the Company.

		
	5.6
	Employee stipulates and agrees that: (i) Employee has no work‐related physical or mental injury incurred or sustained during Employee's employment with the Company, or any other "injury" as defined in the Texas Labor Code; (ii) Employee is not a "prevailing party" under 42 U.S.C. 2000e‐5(k), 42 U.S.C. 1988, the Texas Labor Code, or any other federal, state or local law; and (iii) Employee has not filed or authorized the filing of any complaints, charges, or lawsuits against the Company with any court or agency, nor has Employee assigned to any third party or member of Employee's family any right of Employee to pursue any complaint, charge, lawsuit or claim against the Company.

		
	5.7
	During the Employment Period the Company promises to provide Employee with Confidential Information, and Employee acknowledges and agrees that during his employment he acquired Confidential Information, and will continue to acquire Confidential Information during the Employment Period. Therefore, Employee agrees that in order to protect the Company's Confidential Information and the Company's legitimate business interests, it is necessary to enter into the restrictive covenants set forth in this Section 5.7 (collectively, the "Restrictive Covenants").  Employee may not circumvent the purpose of any restriction by participating in a Competing Business through remote means like telephone, facsimile, correspondence, or electronic communication.

		
	a.
	Employee agrees that (i) he will not at any time after the end of the Employment Period, directly or indirectly, divulge, disclose or communicate any Confidential Information to any person, firm, corporation or entity in any manner whatsoever, except for such disclosures by Employee that are required by law or any valid order or other process issued by any court or administrative agency or self-regulating organization; and (ii) he shall not fail to return to the Company all records, notes, files, drawings, documents, plans and like items, and all copies thereof, relating to or containing or disclosing Confidential Information that are in Employee’s possession or otherwise in his control, whether or not requested to do so by the Company.

		
	b.
	Employee agrees that for a period of one (1) year following the end of the Employment Period or for a period of one (1) year following termination with Cause, whichever is applicable, Employee will not, either directly or indirectly, hire, call on, solicit, divert, or take away, or attempt to call on, solicit, divert, or take away any of the employees, officers, subcontractors, suppliers or customers  of the Company, or the patronage of any employees, subcontractors, suppliers or customers of the Company, or encourage any employees, officers, subcontractors, suppliers or customers of the Company to terminate their relationship with the Company or otherwise interfere with or disturb the relationship existing between the Company and its employees or customers. Employee recognizes that such solicitation would constitute tortious 

interference with contract and tortious interference with a business relationship as well as a breach of this Agreement. 

		
	c.
	Employee agrees for a period of one (1) year following the end of the Employment Period or for a period of one (1) year following a termination with Cause, whichever is applicable, Employee will not participate in a Competing Business. For purposes of this Paragraph, "participate in" includes entering into, engaging in, participating in, or assisting a Competing Business, directly or indirectly, whether as an employee, agent, consultant, partner, owner, shareholder (other than through ownership of publicly-traded capital stock of a corporation which represents less than five percent (5%) of the outstanding capital stock of such corporation), lender, manager, officer, director, or in any other business capacity or relationship.  Employee agrees that competition in violation of these terms is intrinsically unfair to the Company because it would involve inevitable disclosure and misappropriation of Confidential Information.  In the event that Employee desires to pursue a business or employment opportunity which potentially violates this Section 5.7, he shall seek a written waiver from the Company by providing written notice to the Chief Executive Officer of the Company.  The Company may, in its sole discretion, refuse to waive its rights hereunder. 

		
	d.
	During the Employment Period and for one (1) year following the end of the Employment Period or for a period of one (1) year following a termination for cause, whichever is applicable, Employee agrees not to make any disparaging comments about the Company, or any current or former officer, director, or employee of the Company, or any affiliate, or to take any action (or assist any person in taking any other action), in each case, that is materially adverse to the interests of the Company or any affiliate or inconsistent with fostering the goodwill of the Company; provided, however, that nothing in this Agreement shall apply to restrict in any way the communication of information by Employee to any state or federal law enforcement agency or require notice to the Company thereof, and Employee will not be in breach of the covenant contained above solely by reason of his testimony which is compelled by process of law.  During and after the Employment Period, the Company and its managing agents authorized to speak on its behalf agree to refrain from making any disparaging comments about Employee; provided, however, that nothing in this Agreement shall apply to restrict in any way the communication of information by the Company to any state or federal law enforcement agency or require notice to Employee thereof, and the Company will not be in breach of the covenant contained above solely by reason of the testimony of the Company's managing agents which is compelled by process of law.

		
	e.
	The Restrictive Covenants shall survive any expiration or termination of this Agreement and the termination of Employee's employment with the Company. If Employee violates any of the Restrictive Covenants, the restrictive period shall be suspended and will not run in favor of Employee from the time of the commencement of any such violation until the time when the Employee cures the violation to the Company's satisfaction. 

		
	f.
	Employee acknowledges that the Restrictive Covenants, in view of the nature of the Company's business, are reasonable and necessary to protect the Company's legitimate business interests and that any violation of the Restrictive Covenants would 

result in irreparable injury to the Company. In the event of a breach or a threatened breach by Employee of any Restrictive Covenant, the Company shall be entitled (without the necessity of posting bond in excess of $1,000 against such breach or threatened breach) to a temporary restraining order, temporary injunction, and permanent injunction restraining Employee from the commission of any breach, merely by proving (by a preponderance of the evidence) the existence of such breach, or threatened breach and without the necessity of proving either inadequate remedy at law or irreparable harm, and to recover the Company's attorneys' fees, costs and expenses related to the breach or threatened breach. Nothing contained in this Agreement shall be construed as prohibiting the Company from pursuing any other remedies available to it for any breach or threatened breach, including, without limitation, the recovery of money damages, specific performance, attorneys' fees, and costs. The Restrictive Covenants shall each be construed as independent of any other provisions in this Agreement, and the existence of any claim or cause of action by Employee against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the Restrictive Covenants. 

		
	g.
	The Parties agree that if a court should decline to enforce any of the Restrictive Covenants, such affected provisions shall be deemed to be modified to restrict the competitive activity to the maximum extent in time, scope, and geography, which the court shall find enforceable. 

		
	h.
	The Parties agree and stipulate that: (i) the Restrictive Covenants are fair and reasonable in light of all of the facts and circumstances of the relationship between Employee and the Company and do not impose a greater restraint than is necessary to protect the legitimate business interests of the Company; (ii) the consideration and Confidential Information provided by the Company to Employee is not illusory; and (iii)  the Company would not have entered into this Agreement but for the agreement of Employee to be bound by the Restrictive Covenants.

		
	i.
	If it is determined by a court of competent jurisdiction in a final, non-appealable order that Employee has willfully and materially engaged in an activity in violation of this Section 5.7 during or within one year after the end of the Employment Period, then Employee shall repay to the Company, or its designee, within five (5) business days of receipt of written demand therefor, an amount in good funds equal to any cash payments received by Employee pursuant to Article III.  

		
	5.8
	Should Employee in any manner, whether directly or indirectly, fail to perform any covenant of Employee provided herein or otherwise breach this Agreement in any respect, the Company shall have no further or continuing obligation to perform any covenants of the Company for which this Agreement provides, including payment of any sums for which this Agreement provides.    

VI. MISCELLANEOUS

		
	6.1
	Employee acknowledges that he has carefully read this Agreement and that he has had a reasonable opportunity to review its terms with legal counsel of his choice.  Employee further 

acknowledges that the Agreement is written in easily understood language and that he understands its terms, and that he freely and voluntarily executes and agrees to the terms and provisions of this Agreement.

		
	6.2
	This Agreement constitutes and contains the entire Agreement and understanding between the Parties and completely supersedes any and all prior agreements or understandings, verbal or written, pertaining to the employment relationship between the Parties, the termination thereof, or the rights, remedies, duties or obligations arising therefrom.  Any waiver, alteration, or modification of any of the provisions of this Agreement shall not be valid unless in writing and signed by the Company and Employee.

		
	6.3
	TO THE EXTENT PERMITTED BY LAW, THIS AGREEMENT SHALL IN ALL RESPECTS BE INTERPRETED, ENFORCED AND GOVERNED BY THE LAWS OF THE STATE OF TEXAS, EXCEPT AS PREEMPTED BY FEDERAL LAW, AND EXCLUSIVE VENUE FOR ANY LEGAL PROCEEDINGS BROUGHT TO ENFORCE ITS PROVISIONS SHALL BE IN HARRIS COUNTY, TEXAS WHERE ONE OR MORE OF THE PARTIES' OBLIGATIONS CREATED HEREUNDER ARE PERFORMABLE.

		
	6.4
	Should any provision of this Agreement be held invalid or unenforceable, such provision shall be ineffective to the extent of such invalidity or unenforceability, without invalidating the remainder of such provision or the remaining portions of this Agreement.

		
	6.5
	This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which, together, shall constitute one and the same instrument, but in making proof hereof, it shall never be necessary to exhibit more than one such counterpart.

		
	6.6
	The terms of this Agreement are and will remain confidential and Employee agrees not to discuss, publish or otherwise disclose or allow to be disclosed any of the terms hereof unless compelled or required to do so by a court or agency of competent jurisdiction.  Employee also agrees to notify the Company in writing and in advance, of any forced disclosure(s) as set out in this paragraph.

		
	6.7
	By signing this Agreement, Employee acknowledges that additional facts may be discovered later relating to Employee's employment or otherwise, but that it is the intention of Employee to fully, finally, and forever settle and release all of Employee's matters, rights, claims, and any controversies whatsoever, known or unknown, which now exist or formerly have existed against the Company.  Employee acknowledges that this Agreement shall be and will remain in effect as a full and complete general release of such matters, notwithstanding the discovery or existence of any additional or different facts unless such facts arise after the execution of this Agreement.

		
	6.8
	To the maximum extent permitted by applicable law, certain payments made hereunder to Employee shall be made in reliance upon Treasury Regulation section 1.409A-1(b)(4) (relating to short-term deferrals) or Treasury Regulation section 1.409A-1(b)(9)(iii) (relating to separation pay plans).  However, to the extent any such payments are treated as “non-qualified deferred compensation” subject to section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and if Employee is deemed at the time of his “separation from service” to be a “specified employee” within the meaning of that term under section 

409A(a)(2)(B)(i) of the Code, then to the extent delayed commencement of any portion of the benefits to which employee is entitled under this Agreement is required in order to avoid a prohibited payment under section 409A(a)(2)(B)(i) of the Code, such portion of Employee’s payments or benefits payable on account of his separation from service shall not be provided to Employee prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of such separation from service of Employee, and (ii) the date of Employee’s death.  Upon the earlier of such dates, all payments deferred pursuant to this Section 6.8 shall be paid in a lump sum to Employee (or Employee’s estate).  The determination of whether Employee is a “specified employee” for purposes of section 409A(a)(2)(B)(i) of the Code as of the time of his separation from service shall be made by the Company in accordance with the terms of section 409A of the Code, and applicable guidance thereunder (including Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).
 
This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment or benefits provided hereunder become subject to (a) the gross income inclusion set forth within section 409A(a)(1)(A) of the Code or (b) the interest and additional tax set forth within section 409A(a)(1)(B) of the Code (collectively, “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties.  Notwithstanding anything to the contrary in this Agreement, in no event shall the Company be required to provide a tax gross-up payment to the Employee or otherwise reimburse the Employee with respect to any Section 409A Penalties.  If any provision of this Agreement would cause Employee to incur the Section 409A Penalties, the Company may, after consulting with Employee, reform such provision to comply with Section 409A of the Code or to preclude imposition of the Section 409A Penalties, to the full extent permitted under Section 409A.
For purposes of section 409A of the Code (including for purposes of Treasury Regulation section 1.409A-2(b)(2)(iii)), each payment that Employee may be eligible to receive under this Agreement shall be treated as a separate and distinct payment and shall not collectively be treated as a single payment.  A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered “nonqualified deferred compensation” under section 409A of the Code upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of section 409A of the Code and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment,” or like terms shall mean “separation from service.”

VII. AGE DISCRIMINATION

PLEASE READ CAREFULLY.  THIS SEPARATION AGREEMENT AND GENERAL RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

Pursuant to the Age Discrimination in Employment Act of 1967 (29 U.S.C. Sec. 626 et seq.) as amended, please be advised of the following:

		
	7.1
	Employee is advised to have the Agreement reviewed by an attorney by an independent attorney of Employee's choosing before executing the Agreement.

		
	7.2
	Employee is releasing all claims relating to Employee's termination under the Age Discrimination in Employment Act of 1967 and the Older Workers Benefits Protection Act except rights or claims that may arise after the date Employee executes this Agreement.   

		
	7.3
	Employee has a minimum of twenty-one (21) days from the date of receipt to review this Agreement and return it to the Company.

7.4    Employee may revoke this Agreement within seven (7) days of the execution thereof.

		
	7.5
	By executing this Agreement, Employee represents that Employee fully understands all provisions of the Agreement and understands the consequences of executing this Agreement and that Employee has entered into the Agreement knowingly and voluntarily.

EACH PARTY SIGNING THIS AGREEMENT ACKNOWLEDGES THAT THIS AGREEMENT COMPLETELY AND ADEQUATELY RESOLVES ALL DIFFERENCES BETWEEN THE PARTIES ARISING OUT OF EMPLOYEE'S EMPLOYMENT RELATIONSHIP WITH THE COMPANY AND EMPLOYEE'S RESIGNATION/TERMINATION THEREFROM AS WELL AS EMPLOYEE'S SERVICES TO THE COMPANY IN ANY OTHER CAPACITY.

ENSCO plc

	
							
	By:
	 /s/ Maria Clara Silva
	 
	 /s/ Mark Burns

	 
	Maria Clara Silva
	 
	 
	Mark Burns

	 
	Vice President - Human Resources
	 
	Employee
	 

	 
	 
	 
	 
	 
	 
	 

	Date:
	4   December
	2015
	 
	Date:
	8   December
	2015

	 
	 
	 
	 
	 
	 
	 

STATE OF TEXAS
COUNTY OF HARRIS

BEFORE me on this _8th_ day of   December_, 2015, personally appeared Mark Burns to me known to be the same person described in and who executed the foregoing instrument, who acknowledged that he executed the same of his own free will and for the purposes and consideration set forth therein.
	
							
	 
	 
	 
	 /s/ Deberah Patterson
	 

	 
	 
	 
	NOTARY PUBLIC
	 

	 
	 
	Name: 
	Deberah Patterson
	 

	 
	 
	 
	My commission expires:
	September 1, 2016

EXHIBIT A

__ December 2015

Re:    Release

Dear Mark:

Pursuant to the Separation Agreement between you and Ensco plc dated __ December 2015 (the “Separation Agreement”), this letter agreement sets forth a release of claims.  Per the Separation Agreement, your employment with Ensco plc is terminated effective today.  If you execute this letter agreement below and do not revoke it, you will receive the consideration described in Article III of the Separation Agreement.  

		
	•
	In exchange for receiving the consideration in Article III of the Separation Agreement, you agree to irrevocably and unconditionally release the Company (as defined in the Separation Agreement) and any its predecessors, successors, parents, subsidiaries, divisions, affiliated companies, owners, members, partners, partnerships, assigns, officers, directors, employees, insurers, shareholders, agents, employee benefit plans and plan fiduciaries, whether in their individual or official capacities, from: (a) any claim for any wages, salary, compensation, vacation pay, paid leave or other remuneration of any kind; (b) any claim for additional or different compensation or benefits of any sort; (c) any claim of retaliation or discrimination on the basis of race, sex, religion, marital status, sexual preference, age, national origin, handicap or disability, veteran status, or special disabled veteran status; (d) any claim arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Equal Pay Act, the Age Discrimination in Employment Act of 1967, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, the Family and Medical Leave Act, the Fair Labor Standards Act of 1938, the Sarbanes-Oxley Act, the Dodd-Frank Act, the Texas Commission on Human Rights and/or the Equal Employment Opportunity Commission, and any amendments to such statutes; (e) any and all state wage payment and unemployment laws; (f) any claim arising out of or related to an express or implied employment contract, any other contract affecting terms and conditions of employment, or a covenant of good faith and fair dealing; (g) any claim for personal injury or property damage; (h) any claim for defamation, invasion of privacy, negligence, breach of fiduciary duty, fraud or misrepresentation; (i) any claim arising under any anti-retaliation or whistleblower provisions of any state or federal law; (j) any claim based on any other federal and/or state laws and/or regulations related to and/or addressing employment and separation from employment; and (k) any claim based on any other statutory prohibition or any other tort.  Notwithstanding any other provision of this Agreement, the Deed of Indemnity signed by you on 22 December 2009 shall continue in effect in all respects during your continued employment and for such period of time following the termination of employment as are established in Section 15 of such Deed of Indemnity. Further, you will be entitled to the benefit of any insurance policies the Company maintains for the benefit of its officers and directors against all liabilities, claims, costs, charges and expenses incurred in connection with any action, suit or proceeding to which you may be made, or threatened to be made, a party, witness or other participant by reason of being an officer or employee of the Company.

		
	•
	You further agree that this Agreement specifically incorporates all sections of the Separation Agreement and that you continue to be obligated to follow those terms.  

		
	•
	You may revoke this Agreement by notice to the Company, in writing, within seven (7) days of the date of its execution by you (the “Revocation Period”). You agree that you will not receive the consideration provided in Article III of the Separation Agreement if you revoke this Agreement.  You also acknowledge and agree that if the Company has not received from you notice of your revocation of this Agreement prior to the expiration of the Revocation Period, you will have forever waived your right to revoke this Agreement and this Agreement shall thereafter be enforceable and have full force and effect.

By executing this letter agreement, you acknowledge that (a) you have had at least twenty-one (21) days to consider the terms of this Agreement and have considered its terms for that period of time or have knowingly and voluntarily waived your right to do so; (b) you have been advised by the Company to consult with an attorney regarding the terms of this Agreement; (c) you have consulted with, or have had sufficient opportunity to consult with, an attorney of your own choosing regarding the terms of this Agreement; (d) you have read this Agreement and fully understand its terms and their import; (e) except as provided by this Agreement, you have no contractual right or claim to the benefits described herein; (f) the consideration provided for herein is good and valuable; and (g) you are entering into this Agreement voluntarily, of your own free will, and without any coercion, undue influence, threat, or intimidation of any kind or type whatsoever.
We at the Company wish you the best in your future endeavors.                    

	
							
	 
	 
	 
	Sincerely,
	 
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	Name:
	Maria Clara Silva
	 

AGREED:

	
							
	__ December 2015
	 
	 

	Date
	 
	 
	 
	Mark Burns

NOTICE
(Notice of Waiver of Rights)

PLEASE READ THIS NOTICE AND THE ACCOMPANYING SEPARATION AGREEMENT CAREFULLY.  BE ADVISED THAT THE SEPARATION AGREEMENT INCLUDES A RELEASE OF ALL CLAIMS YOU MAY HAVE AGAINST ENSCO PLC ("Ensco" or the "Company").

Pursuant to the Age Discrimination in Employment Act of 1967 and the Older Workers Benefits Protection Act, Ensco hereby advises you of the following:

		
	1.
	You are advised to have the attached Agreement reviewed by an independent attorney of your choosing before executing the Agreement.

		
	2.
	If you sign the attached Agreement, you will be releasing all claims relating to, and arising from, your association with Ensco, including claims, if any, under the Age Discrimination in Employment Act of 1967 and the Older Workers Benefits Protection Act, each as they may have been amended as of the date of the Agreement, except that you will not waive rights or claims that may arise after the date you execute the Agreement.    

		
	3.
	You have twenty-one (21) days from the date of receipt to review the attached Agreement, execute the same, and return it to the Company.  

		
	4.
	If you sign the attached Agreement, you may revoke your agreement to the terms of the Agreement within seven (7) days following its execution by you.  The Agreement will not become effective until after the seven (7) days have expired. 

		
	5.
	If you do not return the Agreement, executed where indicated, within twenty-one (21) days or if you revoke the Agreement during the seven (7)-day revocation period, there will be no "agreement," and you will receive nothing from the Company.

		
	6.
	By executing the attached Agreement, you represent that you fully understand all provisions of this Notice and the attached Agreement and that you understand the consequences of executing the same and that you have entered into the Agreement knowingly and voluntarily.Exhibit
10.5

 

TRADEMARK
LICENSE AGREEMENT

 

This
Trademark License Agreement (“Agreement”) is made and entered into effective as of July
7, 2010 (the “Effective Date”) between
Monster Cable Products, Inc., a California corporation having an address at 455 Valley Drive, Brisbane, CA 94005 (“Licensor’),
and SDJ Technologies, Inc., a Delaware corporation having an address at 2125 B Madera Road, Simi Valley, CA 93065 (“Licensee”).

 

RECITALS

 

A.           Licensee
develops, manufactures, sells and distributes memory data, storage products and would like to manufacture, sell and/or distribute
certain products under the Monster trademarks and logos set forth in Exhibit “A” hereto, licensed by Licensor (collectively,
the “Mark”).

 

B.           Licensee
desires to be granted a license to use the Mark, and Licensor is willing to grant Licensee a license to use the Mark, on the terms
and conditions of this Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Licensor and
Licensee (the “parties”) agree as follows:

 

1.            Grant
of License and Grant Limitations

 

1.1           Grant
of Rights. Licensor grants to Licensee the limited, non-exclusive, nontransferable, non-sublicensable right to use
the Mark, during the Term, throughout the world, excluding those territories prohibited by Section 17.4 (the “Territory,”),
in connection with the manufacture, design, distribution and sale of the products listed in Exhibit “B” (“Licensed
Products”), and subject to the terms and conditions of this Agreement and the requirements for use of the Mark provided
in writing to Licensee. Exhibits A and B and the Territory may be updated from time to time during the Term with the mutual written
consent of each party, but no party shall be obligated to do so.

 

1.2          
Licensor Purchases. Licensor or its designee may purchase
from Licensee, Licensed Products. The prices to be paid by Licensor or its designee for such purchases shall be twenty percent
(20%) above Licensee’s manufacturing cost. (“Manufacturing Cost” means, for purposes of this paragraph,
the actual FOB cost charged by manufacturer to Licensee, inclusive of quota, to produce Licensed Products, with no pass- through
expenses, upcharges, service fees, sourcing fees or any other charges or soft amortized costs whatsoever added on to the cost
incurred by Licensee. In instances where Licensee directly operates the manufacturing facility, Licensor shall be provided with
copies of all costing sheets for Licensed Products).

 

1.3
          Additional
License Considerations.

 

(a)           Pricing.
Licensee shall furnish to Licensor a listing of prices for Licensed Products as early as possible, and in any event, at
least twenty (20) working days prior to the date Licensee commences presenting Licensed Product to the market for sale.
Although Licensee is free to establish its wholesale prices for Licensed Products in its discretion, Licensee agrees that its
wholesale prices for Licensed Products, shall be maintained at a level which will encourage the development of sales of
Licensed Products while maintaining the image of Licensed Products as highest quality products. If Licensor reasonably
believes that Licensee’s wholesale prices of Licensed Products may adversely affect the sales of Licensed Products or
the image of the Licensed Products as highest quality products, Licensor shall so notify Licensee. Licensee shall either
remedy such adverse pricing or withdraw the particular Licensed Product(s) from Licensee’s product list.

 

    	 	CONFIDENTIAL	 
	 	1	 

     

    

 

(b)          Customers.
Licensee may sell Licensed Products to end-user customers and through customers having a reputation and standing in the Territory
as providers of high quality products purchased from authorized sources (“Authorized Retailers”), pursuant to
terms that are consistent with the high quality of the Licensed Products and the reputation, image and prestige of Licensor and
the Mark. Licensee shall submit to Licensor a current list of all Authorized Retailers on a quarterly basis for the following
season’s shipments. Licensor may object to the sale of Licensed Products to any Authorized Retailer, and the parties will
discuss the issue, with each party providing such evidence, as it deems necessary to make its case for or against the Authorized
Retailer, as the case may be. Subject to the requirements of applicable law, Licensee shall immediately cease the direct or indirect
distribution of Licensed Product to any Authorized Retailer remaining objectionable to Licensor after the parties good faith discussions.

 

(c)          Restrictions.
Licensee will not, directly or indirectly, manufacture, distribute, offer for sale or sell any products bearing designs or of
a styling the same as or substantially similar to the designs or styling of any Licensed Products with features developed specially
for Licensed Products hereunder, (“Confusingly Similar Merchandise”). Also, Licensee will not assist or engage
any third party in connection with the manufacture, distribution, offer for sale or sale of any Confusingly Similar Merchandise.
Moreover, Licensee shall not solicit new business by using the Licensed Products and/or Licensor’s goodwill as an inducement to
a third party by representing that Licensee can design, manufacture and/or market similar style products for a third party at
a similar, higher or lower tier of distribution.

 

(4)         B
Stock. Licensee shall not sell any damaged, imperfect, substandard quality or defective goods (“B Stock”)
under the Mark without the prior written approval of Licensor. For the purposes of this Agreement, B Stock are goods which contain
a production flaw or other mistakes or problems which make the goods unsalable for full line list price. Licensor shall be the
sole determiner of whether any goods qualify as B Stock and whether such B Stock may be sold under the Mark. All B Stock approved
for sale shall be marked as such and Licensor may, in its discretion, impose additional requirements on the disposal of B Stock,
including without limitation, the removal of logos and/or other brand identification. All B Stock are subject to the same Sales
Royalty and other related fees and royalties payable to Licensor
as for sales of full-priced product.

 

(e)          Operation
of Licensee Business.

 

(i)          Licensee
shall maintain good customer relations in accordance with prudent and reasonable business practices.

 

(ii)         Licensee
shall maintain manufacturing and sourcing, quality review, and financial staff adequate to perform Licensee’s obligations under
this Agreement.

 

(iii)        Licensee
shall, at its own cost, provide appropriate employee contact persons to specifically be responsible for sales, marketing, merchandising,
customer service, credit, production, design, graphics, and creative services for this Agreement (the “Contacts”).
In no event shall Licensee or any Contact(s) be deemed to be an employee, agent, or the responsibility, of Licensor.

 

1.4           Reservation
of Rights. Licensor reserves all rights not specifically granted
to Licensee under this Agreement. In that regard, Licensor may use and may grant others the right to use any trade names,
logos, domain names, and/or trademarks, including the Mark, in connection with any products, including the Licensed Products,
within or outside the Territory.

 

1.6           Third
Party Rights. If, in Licensor’s sole determination, any use of the Mark by Licensee infringes the rights of any third
party or weakens or impairs Licensor’s rights in the Mark, or if Licensor has agreed to restrict its use of the Mark or
has been ordered to restrict its use of the Mark, Licensee will immediately terminate or modify such its use of the Mark in accordance
with Licensor’s instructions. In the even that Licensee fails to terminate or modify such use as directed by Licensor, Licensor
may terminate the rights of Licensee under this Agreement.

 

    	 	CONFIDENTIAL	 
	 	2	 

     

    

 

2.           Term.
The term of this Agreement will commence as of the Effective Date and continue for a period of two (2) years thereafter
(the “Term”).

 

3.           Sales
Royalty and Payments. During the Term, Licensee shall pay to Licensor a royalty equal to four percent (4%) of Net
Sales (“Sales Royalty”). For purposes hereof “Net Sales” means the total of gross amounts directly
or indirectly invoiced or charged to others or otherwise derived by Licensee from the sale of Licensed Products, reduced only
by the actual amount of returns. No other deductions, whether for unpaid or uncollectible accounts, commissions, chargebacks,
or other discounts given or costs incurred by Licensee shall be taken.

 

4.           Payment
Procedures

 

4.1           Payments.

 

(a)          Licensee
will pay to Licensor, on or before the thirtieth (30th)
day following the end of each calendar quarter, the Sales Royally on Net Sales of Licensed Products during the calendar quarter
just ended.

 

(b)          Simultaneously
with the Sales Royalty payment, Licensee shall deliver to Licensor statements, documents and information for the period covered,
including customer, quantity and sales data, substantiating the Sales Royalty payment amount.

 

(c)          All
payments under this Agreement will be made in United States Dollars via wire transfers, or in any other manner which Licensor
reasonably designates.

 

4.2           Default
on Payments. If Licensee fails to timely make any payment to Licensor in full, (i) Licensee will pay interest on any
unpaid balance at a rate equal to one and a half (1 1⁄2%) percent per month or the maximum rate of interest allowed by law,
and (ii) if the default continues uncured for ten (10) business days or more after notice to Licensee, Licensor may terminate
this Agreement immediately upon written notice to Licensee, and principal and interest will continue to accrue until paid in full.
Licensee will also reimburse Licensor for any costs incurred by Licensor in seeking to collect any sums due to it, including attorneys’
fees, accountant fees, and expenses and collection agency fees and expenses.

 

4.3           Acceptance
Not A Waiver. Acceptance by Licensor of any payments under this Agreement shall not prevent Licensor at any later date
from disputing the amount owed or from demanding more information from Licensee regarding payments finally due, nor shall such
acceptance by Licensor constitute a waiver of any Licensee breach.

 

    	 	CONFIDENTIAL	 
	 	3	 

     

    

 

5.          Books
and Records: Audits. Licensee will prepare and maintain,
in a manner which will enable Licensor’s accountants to audit same in accordance with generally accepted accounting principles
and with this Agreement, complete and accurate books of account and records (including the originals or copies of documents supporting
entries in the books of account) covering all transactions relating to this Agreement, including those related to Licensee’s
manufacturing operations, bill of materials, inventory levels, costs and suppliers. Licensor and/or its representatives may, during
regular business hours with fourteen (14) days advance notice, during the Term and for three (3) years thereafter, audit these
books of account and records and examine and copy all documents
and materials relating to this Agreement and allow the same access to
its Contractors to the extent necessary to validate the information provided
hereunder. If any audit of Licensee’s books and records discloses that Licensee’s payments were less than the
amount which should have been paid, all underpayment plus
interest, commencing from the date payment was initially due, at a rate equal to one and a half percent (1 1⁄2%
) per month will be made immediately to Licensor. If the underpayment is five percent (5%) or more, or any amount if intentional,
(i) Licensee will immediately reimburse Licensor for the
cost and expenses of the audit, and (ii) Licensor may terminate
this Agreement immediately upon written notice to Licensee.

 

6.          Sales
Projections. Within thirty (30) days following the end of the previous calendar quarter, Licensee will deliver
to Licensor, copies of all upfront sales projections and forecasts used internally by Licensee in planning and projecting its
Licensed Products business.

 

7.          Production
and Distribution of Licensed Products

 

7.1          Design
and Production.

 

(a)          Licensee
and Licensor will consult and cooperate with each other in the design process of the Licensed Products. Licensee will be solely
responsible for, and shall pay all costs and expenses relating to, developing Licensed Products, making all prototypes, samples,
and all aspects of the production of Licensed Products.

 

(b)          Prior
to the first prototypes being produced for each type or style of Licensed Product, Licensee shall submit to Licensor materials,
designs, sketches, specifications and hardware, if applicable (collectively, “Specifications”), for use in connection
with Licensed Products. Licensor shall notify Licensee within thirty (30) days of receipt whether Licensor accepts or rejects
the submitted Specifications, provided, however, that Licensor’s
failure to accept or rejects within the thirty (30) day period shall be deemed a rejection. Any and all such items shall be approved
by Licensor, in writing. If Licensor rejects any Specifications,
Licensee shall make changes and corrections to conform the Licensed Product to the high quality and design standards prescribed
by Licensor and shall resubmit the Specifications for approval. Licensee shall not make a prototype using any Specifications rejected
by Licensor.

 

(c)
         Prior to samples being produced, Licensee shall submit to Licensor a prototype. Licensor shall notify Licensee, in writing,
within thirty (30) days of receipt whether Licensor accepts or rejects the prototype, provided,
however, that Licensor’s failure to accept or reject within the thirty (30) day period shall be deemed a rejection.
If Licensor rejects any prototype, Licensee shall not proceed to produce a sample of such Licensed Product and shall
coordinate with Licensor, at Licensee’s sole cost and expense, to make changes and corrections to conform the prototype
to the high quality and design standards prescribed by Licensor and, upon Licensor’s request, shall resubmit another prototype
for written approval. Licensee shall not produce a sample of any Licensed Product until Licensor approves the prototype.

 

(d)          Licensee
will submit to Licensor for inspection, ten (10) top-of-the-line production samples of each Licensed Product, so Licensor
may assure itself that required quality standards are being maintained. All Licensed Products will be equal or better in
quality to the sample approved by Licensor. If Licensor rejects any production sample, Licensee shall discontinue the
production of the Licensed Product and shall coordinate with Licensor, at Licensee’s sole cost and expense, to make
changes and corrections to conform the Licensed Product to the high quality and design standards prescribed by Licensor and
shall resubmit a sample for approval. Licensee shall not continue production of the Licensed Product until Licensor approves
such sample. Licensee acknowledges that Licensor’s approvals pursuant to this Agreement may be based on
Licensor’s subjective standards, including its aesthetic judgment regarding design, advertising, marketing and
promotion, and the reputation, image and prestige of Licensor, the Mark, and the “Monster” brand, and may be
withheld in Licensor’s discretion,

 

    	 	CONFIDENTIAL	 
	 	4	 

     

    

  

(e)          Use
of the Mark on the Licensed Products and their packaging and promotional materials shall subject to Licensor’s prior written
approval and shall strictly comply with any written guidelines provided by Licensor.

 

7.2           Inspection
Rights. Licensor and its duly authorized representatives may, upon fourteen. (14) days
advance notice and during normal business hours, examine Licensed Products — in the process
of being manufactured and at Licensee’s distribution centers — and inspect all facilities utilized in
connection therewith, including third-party contractors’ factories and other facilities to verify compliance with the
terms of this Agreement. Licensor will seek to conduct any such examination in a manner calculated to minimize interference
with normal business operations.

 

7.3           Third
Party Manufactures: Quality Control: Support. Licensee may use third party contractors for the manufacture of Licensed
Products (“Contractors”) provided that (i) Licensee independently determines that each Contractor is capable
of manufacturing the Licensed Products strictly in accordance with this Agreement, (ii) each Contractor acknowledges, in writing,
that the Licensed Products and Mark are proprietary that Contractor is prohibited from using any of the Licensed Products, Mark
or Confidential Information of Licensor except as in furtherance of the, manufacturing of the Licensed Products hereunder, and
(iii) Licensee submits information concerning the proposed Contractor to Licensor for its review. Licensee will use its best efforts
to monitor the performance of its Contractors to assure compliance with laws and regulations of all jurisdictions in the Territory.
Licensee will immediately notify Licensor upon obtaining knowledge or notice of a material failure by any Contractor to comply
with any such laws or regulations and also will immediately take all corrective actions as may be necessary or otherwise reasonably
requested by Licensor; and Licensee will terminate any Contractor that intentionally or repeatedly fails to comply therewith.
Licensee shall terminate its use of any Contractor which fails to manufacture the Licensed Products strictly in accordance with
this Agreement and to standards acceptable to Licensor. Neither Licensee’s engagement of a Contractor nor Licensor’s failure
to object to a Contractor will limit Licensee’s obligations hereunder, and any act or omission by a Contractor which would
constitute a material violation of this Agreement also will constitute a material violation of this Agreement by Licensee.

 

7.4           Compliance
With Law. All Licensed Products Will be manufactured, offered for sale, sold, labeled, packaged, distributed, advertised,
marketed, promoted, publicized and otherwise exploited, in accordance with the product specifications, industry certifications,
support standards, and any other quality standards, and all applicable laws and regulations, including without limitation, all
customs requirements and country of origin regulations, those laws and regulations relating to health and safety, and those laws
and regulations relating to the disclosure of information to the consumer.

 

7.5           High
Quality. Each collection of Licensed Products shall (i) be of good quality and free of defects in design, material
and workmanship and shall be suitable for their intended purpose, (ii) not be injurious, poisonous, or deleterious, and no toxic
substance or material, will be used in or on the Licensed Products, and (iii) not be inherently dangerous to the users thereof.

 

    	 	CONFIDENTIAL	 
	 	5	 

     

    

 

7.6           Packaging
Materials. All Licensed Products will be manufactured, distributed, offered for sale, and sold in a manner consistent
with Licensor’s standards, labels, packaging and shipping materials approved by Licensor from time to time (collectively,
“Packaging Materials”).

 

7.7           Complaints.
Upon - becoming aware of any complaints by consumers or governmental bodies with regard to any of the Licensed Products, licensee
will immediate inform Licensor in writing and subsequently keep Licensor apprised regarding the status and resolution thereof.
Licensee will resolve any such complaints in a fair and expeditious manner.

 

7.8           Recall
of Licensed Products. Licensor shall have the right (i) to compel Licensee to recall Licensed Products sold or otherwise
distributed by Licensee; and (ii) to place a hold on future shipments of a Licensed Product sold or otherwise distributed by Licensee
if Licensor has a reasonable basis to believe that the Licensed Products do not comply with the quality standards and other specifications
set forth in this Agreement in a manner that can be reasonably expected to have a material adverse impact on (a) customer safety
and/or satisfaction; (b) the function of the Licensed Product; (c) the quality of the Licensed Product; (d) the performance of
the Licensed Product; or (e) if Packaging and Promotional Materials misrepresent the contents of the Licensed Product. Any recall
required by Licensor shall be reasonable in scope. Licensee will maintain an effective means to quarantine, remove, and recall
from the entire supply chain (starting from the Licensee’s factory and continuing through the end retail stores) any shipment,
production lot, stock keeping unit (“SKU”), or any other Licensed Product found to be defective or non-compliant
with the requirements of this Agreement. All costs and expenses associated with the recall shall be borne solely by Licensee,
and Licensee shall reimburse Licensor any and all costs and expenses incurred as a result of any such recall.

 

7.9         Customer
and End User Support.

 

(a)          Licensee
shall manage and be responsible for all aspects of the business relationship with the distribution channel and customers, including,
but not limited to: sales, marketing contractual terms and conditions including credit administration and terms, develop and implement
demand generation promotions and programs, launch new products, manage all aspects of warranty and return processes, be responsible
for customer support and retail sales support and post-sales technical support for all distribution channels and end user customers.

 

(b)          Support
will be provided in a manner that is consistent with prevailing industry standards and practices for other products that are comparable
to the Licensed Products and at quality of service levels that are equal to or exceed those that are typical for Licensor products
that are comparable to the Licensed Products. The product warranties, product packaging and collateral will direct end user customers
in a clear and prominent manner to calI Licensee’s support numbers for assistance with any questions or problems related to Licensed
Products. Licensee may not express or imply that Licensor is responsible for warrant and/or product support.

 

(c)           Licensee
shall identify and keep current a primary and secondary support contact for marketing communications and pre-sales and post-sales
support.

 

(d)          Licensee
shall report promptly to Licensor all suspected and/or reported defects in Licensed Products if such defects could be or are reported
to be safety related, or if such defects affect or are reported to affect one percent (1%) of Licensed Products shipped .

 

7.10        End
User Customer Warranty.

 

(a)          Licensee
shall provide and be solely responsible for providing product warranties and support for Licensed Products to its distribution
channels. Licensor and end user customers (both in and out of warranty).

 

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(b)          Licensee
shall manage all aspects of the return process including warranty, support, stock adjustments and distribution channel and end
user customer satisfaction issues. Licensor will not accept returned Licensed Products, except those that it sells as a distributor
and has its own return agreements with those customers,

 

(c)          All
warranty documentation accompanying Licensed Products and all warranty documentation applicable to Licensed products is subject
to Licensor’s pre-approval and shall contain a notice satisfactory to Licensor that provides that (i) Licensor does not provide
and is not responsible for any product warranty for the Licensed Products, and (ii) responsibility for any product warranty is
with Licensee. In addition, all liability disclaimers on warranty documentation that apply to Licensee, its Affiliates, or other
warranty providers shall also be made to apply to (protect) Licensor

 

(d)          Product
warranties for Licensed Products shall be made part of Licensee’s Web Site in the same manner as other Licensee products.

 

(e)          Licensee’s
provision of warranty services shall be in accordance with local law and custom in each country in the Territory.

 

8.           Marketing
and Promotional Activities

 

8.1           Marketing
and Promotion. Licensee shall market promote, and sell the Licensed Products within the Territory.

 

8.2           Promotional
Material and Products. Licensee shall submit to Licenser, for Licensor’s prior approval samples of all advertising
and promotional plans and materials that Licensee desires to use to promote the Licensed Products (“Promotional Material”),
including without limitation, press releases and interviews for publication in any media. Licensee shall modify any disapproved
Promotional Material to satisfy Licensor’s objections so that it is acceptable to Licensor. Under no circumstances may Licensee
advertise, market, promote, publicize or otherwise exploit the Licensed Products or the Mark together with any other trademarks
or names or any other products without the prior written consent of Licensor.

 

8.3           Trade
Shows. Licensee agrees that if Licensee participates in any trade show which includes Licensed Products, Licensee shall
first get Licensor’s approval over any intended visuals, displays, signage, or intended uses of the Mark at such show. In
addition, unless otherwise agreed by Licensor, Licensee agrees that the Licensed Products shall be given its own booth at any
such show, with such Licensed Products remaining separate and distinct from any other Licensee products to be displayed at such
show.

 

9.           Intellectual
Property Ownership

 

9.1           Ownership.
Licensee acknowledges that (i) each Mark is distinctive, strong and famous, (ii) Licensor is the sole and exclusive owner of all
right, title and interest in and to the Mark; (iii) nothing contained in this Agreement shall give to Licensee any right, title
or interest in the Mark; and (iv) Licensee’s use of the Mark, and any associated goodwill, shall inure only to the benefit of
the Licensor

 

9.2           Registration
and Cooperation. If Licensee desires to use the Mark outside of the United States, Canada or Europe, it shall first
notify Licensor in writing providing Licensor the opportunity to file trademark registrations for the Mark in such locations.
Licensee hereby agrees to reimburse Licensor for the costs of filing and maintaining such Marks in such other locations throughout
the Term hereof. Notwithstanding the above, Licensee shall not directly or indirectly seek or obtain any registration of the Mark
(including without limitation, any colorable imitations, translations, or transliterations thereof) anywhere in the world without
Licensor’s prior written consent. If Licensee has obtained or obtains in the future, in any country, any right, title or
interest in the Mark (including any colorable imitations, translations, or transliterations thereof), or in any other trademark
or service mark owned by Licensor, Licensee has so acted or will act as an agent and for the benefit of Licensor for the limited
purpose of obtaining such registrations and assigning them to Licensor. Licensee shall execute, for no additional consideration,
any and all documents deemed necessary by Licensor or its attorneys to be necessary to transfer such right, title or interest
to Licensor.

 

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9.3           No
Challenges. Neither Licensee nor any of its affiliates will do anything or suffer anything to be done which may adversely
affect any rights of Licensor in and to the Mark, or any registrations thereof or which, directly or indirectly, may reduce or
dilute the value or distinctiveness of the Mark or disparage or detract from Licensor’s reputation. Licensee shall not challenge,
directly or indirectly. Licensor’s ownership of or the validity of the Mark, or any application for registration or trademark
registration thereof or any rights of Licensor therein. Any such challenge will constitute a material and incurable default by
Licensee warranting termination of this Agreement.

 

9.4          Proprietary
Notices.

 

(a)          Licensee
will place any proprietary legends, markings and notices legally required or requested by and in a format approved by Licensor
on Licensed Products, Packaging Materials and Promotional Materials used with the Licensed Products or in the business to be conducted
by Licensee under this Agreement.

 

(b)          Licensee
will use and display the Mark only in the form and manner designated
or approved by Licensor. Licensor will notify Licensee if it elects to change the form of the Mark and Licensee will effect the
change promptly. If Licensee has an inventory of Licensed Products bearing the previous version of such Mark, Licensee may sell
off those Licensed Products in the ordinary course, but in any event not greater than three (3) months after receiving notice
of a change in the Mark and only pursuant to the terms of this Agreement. Licensee shall use the proper trademark and copyright
and other proprietary notices in connection with the Licensed Products, which notices Licensor shall, from time to time, specify.

 

10.         Third
Party Infringement and Anti-Counterfeiting. If either Licensor or Licensee becomes aware of any possible infringement,
imitation or counterfeiting of the Mark, each party shall promptly notify the other party. Licensor may take such action as it,
in its discretion, deems advisable for the protection of its rights in and to the Mark and Licensed Products. If requested to
do so by Licensor, Licensee will cooperate with and follow the directions of Licensor in connection therewith, including by acting
as a plaintiff or co-plaintiff in lawsuits and by causing its officers to execute pleadings and other related documents.

 

11.         Confidentiality

 

11.1
         Confidentiality.
In connection with the performance of this Agreement, both parties may have access to certain confidential and proprietary information
of the other party. “Confidential Information”
means any other information that is not generally known to the public and that is or was used, developed or obtained by the Licensor
or Licensee in connection with its business or this Agreement. Notwithstanding the foregoing, Confidential Information shall not
include information which: (i) is or becomes generally available to the public through no fault of the disclosing party; (ii)
is required to be disclosed by order of a court or other competent governmental agency or by applicable law; (iii) is, prior to
the time of its disclosure, already rightfully in the possession of the party to which disclosure is made, or (iv) is independently
developed without use of the disclosing party’s Confidential Information. Recognizing that such information represents valuable
assets and property of the parties and the harm that may befall the parties if any of such Confidential Information is disclosed,
both parties agree to hold all such Confidential Information in confidence and not to use or otherwise disclose any such Confidential
Information to third parties without having received the prior written consent of the other party and a written agreement from
such third party to maintain such Confidential Information in confidence.

 

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12.          Indemnification;
Insurance

 

12.1         Licensor
Indemnification. Licensor will indemnify and hold Licensee and its officers, directors, employees and agents harmless
from and against any losses, liabilities, damages and expenses (including interest, penalties and reasonable attorneys’ fees and
expenses) arising from any third party claim that the use of the Mark in the United States. Canada and Europe as authorized herein
infringes the trademark of a third party, provided Licensor (i) is notified of the claim promptly in writing; (ii) is informed
by Licensee of any subsequent communications related to the claim; and (iii) has the sole authority to settle the claim. The indemnification
under this Section will apply solely to (i) the amount of the judgment, if any, entered against the indemnitee, after appeal,
if applicable, (ii) any approved sums paid by the indemnitee in settlement, and (iii) the expenses incurred by the indemnitee
in connection with its defense (including interest, penalties and reasonable attorneys’ fees).

 

12.2         Licensee
Indemnification. Licensee will indemnify and hold Licensor, and its affiliates, and their members, partners, officers,
directors, employees and agents harm less from and against, any losses, liabilities, damages and expenses (including interest,
penalties and reasonable attorneys’ fees and expenses) arising from any claim (i) brought by or on behalf of any of Licensee’s
employees, customers (including immediate and downstream customers). Contractors, suppliers, independent sales agents or representatives,
(ii) arising from Licensee’s breach of any of its obligations, representations or warranties made hereunder; and (iii) except
to the extent of Licensor’s indemnification obligations under Section 12.1 above, arising out of the Licensed Products,
including without limitation claims of infringement, product defect and product liability. Licensor will have the option of controlling
the litigation and retention of counsel and Licensee will reimburse Licensor for the expense of the action, claim, or proceeding
as incurred by Licensor.

 

12.3       
Licensee Insurance. Licensee will, at its own expense, procure and maintain in full force and effect for so long
as Licensed Products are sold, with an insurance carrier with the highest rating established by Best’s Rating Guide, a liability
insurance policy with products liability coverage with respect to Licensed Products, civil and advertising insurance and contractual
liability coverage with respect to this Agreement, with a limit of liability of not less than two million dollars ($2,000,000).
The insurance policy will be written for the benefit of Licensee, Licensor, and the various other indemnitees described in Section
12.2. will be designated expressly as primary insurance, and will provide for at least thirty (30) days prior written notice to
Licensee and Licensor of the cancellation or substantial modification thereof. If the insurance policy is cancelled, it will be
replaced by a substantially equivalent policy prior to its cancellation. Licensee may obtain the insurance in conjunction with
a policy of liability insurance which covers products other than Licensed Products provided that the liability insurance coverage
for the Licensed Products shall not be less than two million dollars ($2,000,000). Licensee will deliver a certificate of insurance
to Licensor promptly upon its issuance and will furnish to Licensor evidence of the maintenance of the policy upon request. Nothing
in this Section is intended to limit or affect the indemnification provisions of Section 12.2

 

13.         Termination

 

13.1         Termination
For Cause. If either party is in material breach of any of the terms and conditions of this Agreement, and such party
fails to cure such breach within thirty (30) days after the date of receipt of written notice from the other party, unless a different
notice period has been provided herein, then the party not in default shall have the right to terminate this Agreement immediately
by written notice to the other party.

 

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13.2       Termination
by Licensor. Licensor may terminate this Agreement:

 

(a)          Upon
written notice to Licensee in the event that Licensee fails to make any payments required under this Agreement and said payment
is not made within ten (10) days of Licensor’s notification of such outstanding payment;

 

(b)          Upon
written notice to Licensee in the event that Licensee produces or sells Licensed Products or uses the Mark in any manner that
violates this Agreement;

 

(c)          Upon
written notice to Licensee in the event that Licensee experiences a change of control of more than forty-nine percent (49%) of
its current ownership;

 

(d)          Upon
written notice to Licensee in the event that Licensee experiences ah event of insolvency, petition in bankruptcy or dissolution.
In such event, no assignee for the benefit of creditors, custodian, receiver, trustee in bankruptcy, sheriff or any other officer
of the court or official charged with responsibility for taking custody of Licensee’s assets or business may continue this
Agreement or exploit or use the Mark; or

 

(e)          Upon
thirty (30) days prior written notice to Licensee.

 

13.3       Effects
of Termination.

 

(a)          Any
indebtedness of Licensee to Licensor, plus Sales Royalty shall become immediately due and payable, with interest accruing at a
rate equal to one and a half percent (1 1⁄2%) per month commencing
from the date of termination. Within fourteen (14) days after the termination, Licensee shall furnish to Licensor a full and complete
statement setting forth (i) the inventory of Licensed Products manufactured or in the process of manufacture, including the wholesale
price thereof, (ii) the number of outstanding orders received, accepted and approved, (iii) production and distribution schedules,
and (iv) advertising and promotional schedules. Licensee shall consult with Licensor regarding its pending customer orders and
Licensor shall determine whether to permit Licensee to continue manufacturing and production of Licensed Products to fill the
outstanding orders, to direct Licensee to cancel the pending orders, or to assume or have a third party assume the obligation
to fill pending orders, or to deliver such pending orders to Licensor
for fulfillment.

 

(b)          All
benefits which may accrue by reason of the activities of Licensee hereunder will be deemed transferred automatically to Licensor,
and all licenses and other rights granted to Licensee hereunder shall immediately cease. Licensor shall not be liable to Licensee,
either for compensation or for damages of any kind, whether on account of loss by Licensee or any other person, of present or
prospective profits, on present or prospective sales, or investments or goodwill, and Licensee hereby waives any rights which
may be granted to it by sovereign entities or otherwise which are not granted to it by this Agreement.

 

(c)          Licensee
shall continue to maintain in confidence any and all Confidential Information, and, within ten (10) days after such termination,
will return to Licensor, at Licensee’s expense, all exterior and interiors signs and displays bearing the Mark, all Packaging
Materials and Promotional Materials or other materials and documents relating to the Licensed Products, Mark, or any Confidential
Information or, at the election of Licensor, destroy or otherwise dispose of such material as Licensor may direct. Thereafter,
Licensee will not use, provide to others or permit others to use any of these materials or any variations or simulations thereof
in connection with any products, nor will Licensee hold itself out as being associated with Licensor, or any of its affiliates
or, in its business activities, promote or otherwise indicate its prior association with any of them.

 

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(d)          Upon
termination of this Agreement, Licensee shall have a period of ninety (90) days to sell and ship to its customers current inventory
of Licensed Products within the Territory (“Sell-Off
Period"). All sales during the Sell-Off Period are expressly subject to all of the normal terms and conditions
contained in this Agreement, including without limitation, payments of all Sales Royalties, and prohibitions against selling Licensed
Products outside of the Territory or through any channel or method (including without limitation, discount stores or overstock
entities) which would, in Licensor’s sole determination, adversely affect the Licensed Products or Licensor’s name,
trademarks, service marks, copyrights, domain names, or goodwill. Any Licensed Products remaining in Licensee's inventory at the
end of the Sell-Off Period (or upon termination if such termination is due to Licensee’s uncured breach) shall be shipped
to Licensor at Licensee’s expense, according to the pricing set forth in Section 1.2 or destroyed, at Monster's sole election
.. The above notwithstanding, should this Agreement be terminated due to an uncured breach by Licensee, in such case Licensee shall
not be entitled to any Sell-Off Period.

 

(e)          Notwithstanding
Licensee's sell-off right under Section 13.3(d) above, prior to the expiration of the Sell-Off Period, Licensor shall have the
right to purchase all or part of Licensee's Licensed Product inventory.

 

(f)          Termination
of this Agreement for any reason shall not effect obligations accrued prior to the effective date of termination or any obligations
which, either expressly or from the context of this Agreement, are intended to survive termination of this Agreement.

 

(g)          Except
as otherwise provided in this Section 13.3, upon termination Licensee shall immediately cause its third party Contractors to discontinue
to manufacture, promote, distribute or sell in any manner the Licensed Products the Mark, and any signs, equipment, certificates,
advertising or promotional materials, stationery, forms and any other articles or materials, that display the Mark.

 

(h)          Licensee
shall pay to Licensor all costs and fees (including without limitation, attorneys, accountant and collection fees) incurred by
Licensor as a result of Licensee’s breach of any term or condition contained herein resulting in termination of this Agreement.

 

14.         Representations
and Warranties.

 

14.1         Mutual
Representation. Each party hereby represents and warrants to the other party that;

 

(a)          It
is a company, duly organized, validly existing and in good standing under the laws of the state or territory of its organization,
and has all requisite power and authority to own, license, and operate its assets, and is duly authorized and qualified to do business
in all jurisdictions in which the nature of its business requires such qualification.

 

(b)          It
has full right, power and authority to enter into this Agreement and to perform its obligations hereunder, and this Agreement constitutes
the valid and binding obligation of such party.

 

(c)          The
execution or performance of this Agreement will not conflict with any provision of any other agreement or understanding to which
it is a party or by which it or any of its properties may be bound.

 

(d)          Except
as specifically set forth herein, neither party has made and is not making any representation or warranty hereunder.

 

14.2         Licensee
Representations, Warranties and Covenants. Licensee represents, warrants, and covenants that:

 

(a)          it
has the full legal right to use all programs and materials it may use in connection with the Licensed Products and is not using,
and shall not use, any software or hardware programs, materials or any other intellectual property in connection with the Licensed
Products that will infringe upon any trademark, trade name, domain name, copyright, patent, trade secret or other proprietary right
of any other person or entity.

 

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(b)          it
shall, at all times during the Term, maintain the proper loss of inventory insurance to cover
any lost profits resulting from any loss of Licensed Products in its inventory.

 

15.         Notices
and Other Communications. All reports, approvals, requests, demands, notices and other
communications (collectively “Communications”)
required or permitted by this Agreement will be in writing and signed by a duly authorized officer of or such other
individual designated in writing by a party. Communications will be duly given if delivered personally, if mailed (by certified
or registered mail, return receipt requested ) or if delivered by nationally-recognized courier or mail service which requires
the addressee to acknowledge, in writing, the receipt thereof to the party concerned at its address set forth in this Agreement
(or at any other address as a party may specify by notice in writing to the other).

 

16.         Assignability:
Binding Effect. The performance of Licensee is of a personal nature and, therefore, neither this Agreement
nor the license or other rights granted to Licensee may be assigned, sublicensed or transferred by Licensee without the
express written consent of Licensor, and any attempted assignment, sublicense or transfer, whether voluntary or by operation
of law, directly or indirectly, will be void and of no force or effect and will constitute an incurable default by Licensee.
This Agreement will inure to the benefit of and will be binding upon the parties, Licensor's successors and assigns and
Licensee's permitted successors and assigns. References herein to Licensor also will be deemed to include any entity to which
the business of Licensor is transferred.

 

17.         Miscellaneous.

 

17.1         Entire
Agreement; Amendment. This Agreement contains
the entire understanding and agreement between the parties with respect to its subject matter, supersedes all prior oral
or written understandings and agreements relating thereto and may not be modified, discharged or terminated, nor may any of the
provisions hereof be waived, orally. This Agreement may be modified or amended only by a written amendment to the Agreement signed
by both partied.

 

17.2         Governing
Law.

 

(a)          This
Agreement will be considered as having been entered in the State of California, and will be construed, interpreted and enforced
in accordance with the laws of that state applicable to agreements wholly made and to be performed there, excluding its conflict
of laws rules.

 

(b)          Any
action arising under the provisions of this Agreement relating to the nondisclosure of confidential information or other claims
of violations of intellectual property of a party will be brought in the State of California, except at Licensor's sole discretion
it may opt to bring an injunctive proceeding in any jurisdiction where appropriate by reason of its subject matter. Licensor and
Licensee irrevocably submit to the exclusive jurisdiction of the state and Federal courts in San Mateo County, California, and
waive any claim or defense of inconvenient forum or lack of personal jurisdiction in such forum under any applicable law, decision
or otherwise.

 

17.3         Force
Majeure. The parties will not be liable to each other for any failure or delay in performance, other than failure to
make timely payments due under this Agreement if it is because of earthquake, flood, fire or other act of God (“Force
Majeure”). However, either party may terminate this Agreement by and upon notice to the other if the other is unable
to perform any of its material obligations for a period of thirty (30 ) days by reason of the Force Majeure.

 

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17.4         Export
Control Compliance. The laws and regulations of the United States, including without limitation the Export Administration
Regulations (EAR), restrict the export and re-export of certain hardware, software, other commodities, technology and technical
data. Licensee warrants that it will not export or re-export Licensed Products or any technical data thereto, in any form in violation
of such laws and regulations without the appropriate United States and foreign government export or import licenses or other official
authorization.

 

17.5         Survival.
The following Sections will survive the termination or expiration of this Agreement in perpetuity or for the period contemplated
by the provisions of a Section below: Sections 3, 4, 5, 7.9, 9, 11, 12, 13.3, 14, 15, 16 and 17.

 

17.6         Relationship
of Parties. The parties to this Agreement are independent contractors and this Agreement shall not establish any relationship
of partnership, joint venture, employment, franchise, or agency between the parties. Neither party shall have the power to bind
the other party or incur obligations on the other party’s behalf without the other party’s prior written consent.

 

17.7         Costs
and Expenses. Unless otherwise agreed by the parties in writing, each party agrees that it is solely responsible for
all costs and expenses incurred by such party in connection with the performance of its obligations set forth in this Agreement.

 

17.8         No
Waiver. If any acts or omissions by Licensee or Licensor not in conformity with any requirement hereof are not objected
to by the other, the failure to object will not be a waiver by the other of the requirement and it may insist upon due performance
any time. No waiver by either party, whether express or implied, of any provision of this Agreement, or of any breach or default
thereof, will constitute a continuing waiver of that provision or of any other provision.

 

17.9         Continuation
in Part. If any provision or any portion of any provision of this Agreement is held to be void or unenforceable, the
remaining provisions of this Agreement and the remaining portion of any provision held void or unenforceable in part will continue
in full force and effect.

 

17.10         No
Presumption Against a Party. This Agreement will be construed without regard to any presumption or other rule requiring
construction against the party causing this Agreement to be drafted.

 

17.11         Subtitles
and Definitions. Subtitles and titles of sections and/or paragraphs are for convenience only. The definitions in this
Agreement shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any
pronoun shall include the corresponding masculine, feminine and neuter forms.

 

17.12         Counterparts
and Facsimile/Electronic Signatures. This Agreement may be executed in counterparts all of which taken together shall
constitute one single agreement between the parties. A facsimile/electronic transmission of the executed signature page of this
Agreement shall constitute a valid signature and due and proper execution of this Agreement.

 

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IN WITNESS
WHEREOF, the parties hereto have duly executed this Agreement the day and year first above written.

 

	 	LICENSOR:
	 	Monster, LLC
	 	 	 
	 	By:	/s/ Gary Yacoubian
	 	Name:	Gary Yacoubian
	 	Title:	VP, Strategic Development
	 	Date:	7/8/10
	 	 
	 	LICENSEE:
	 	 	 
	 	By:	/s/ Jawahar Tandon
	 	Name:	Jawahar Tandon
	 	Title:	Director
	 	Date:	7/6/10

 

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EXHIBIT A

 

MONSTER
MARKS

 

MONSTER MEMORY

 

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EXHIBIT B

 

LICENSED
PRODUCTS

 

DRAM Modules

USB Flash Drives

Flash based SD, M2, MicroSD, CF.
ProDuo, card products

Flash based SSD drive products

Internal Power Supplies

 

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AMENDMENT
#1 TO TRADEMARK LICENSE AGREEMENT

 

This
Amendment #1 (“Amendment 1”) to the Trademark License Agreement dated July 7, 2010 (“Agreement”) is made
and entered into effective as of August 24, 2011 (the “Effective Date”) between Monster Cable Products, Inc.,
a California corporation having an address at 455 Valley Drive, Brisbane, CA 94005 (“Licensor”), and SDJ Technologies,
Inc., a Delaware corporation having an address at 2125 B Madera Road, Simi Valley, CA 93065 (“Licensee”).

 

RECITALS

 

A.           The
parties to the original Agreement desire to amend certain terms of the Agreement and are therefore entering into this Amendment
as provided for in Section 17.1 of the Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Licensor and Licensee (the “parties”) agree to
amend the Agreement as follows:

 

Section
1.1 of the Agreement is deleted and replaced by the following:

 

1.1           Grant
of Rights. Licensor grants to Licensee the limited, exclusive (except as to Licensor who expressly reserves for itself the
rights being granted to Licensee herein and except as to the M (stylized) mark which is licensed here as non-exclusive), nontransferable,
non-sublicensable right to use the Mark, during the Term, throughout the world, excluding those territories prohibited by Section
17.4 (the “Territory,”), in
connection with the manufacture, design, distribution and sale of the products listed in Exhibit “B” (“Licensed
Products”), and
subject to the terms and conditions of this Agreement and the requirements for use of the Mark provided in writing to Licensee.
This Agreement conveys no rights to use any other mark, including the MONSTER mark. Exhibits A and B and the Territory may be
updated from time to time during the Term with the mutual written consent of each party, but no party shall be obligated to do
so.

 

Section
2 of the Agreement is deleted and replaced by the following:

 

2.          Term.
The term of this Agreement will commence as of the Effective Date and will terminate after two (2) years from the earlier
of June 30, 2011 or the shipment of Licensed Products (the “Term”).
The Term may be extended for additional one (1) year periods (for a total of no more than three (3) extensions of one
(1) year each) but only if in such 3rd, 4th, or 5th year of the Agreement Licensee pays Licensor
a minimum royalty of $50,000.00 royalty per quarter Beyond the extensions noted above, the parties agree to the following extensions:
6th - 10th year of the Agreement royalties will be paid quarterly equaling a minimum of $500,000.00 per
year; 11th -15th year of the Agreement royalties will be paid quarterly equaling a minimum of $750,000.00
per year; and 16th - 25th year of the Agreement royalties will be paid quarterly equaling a minimum of $1,000,000.00
per year. Licensee must be in complete compliance and not in default for any extensions to be available to Licensee. At any time
during the Term of the Agreement or its extensions, the parties may negotiate for a permanent license payment.

 

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Section
3 of the Agreement is deleted and replaced by the following:

 

3.          Sales
Royalty and Payments. During the Term, Licensee shall pay to Licensor a royalty equal to four percent (4%) of Net Sales
(“Sales Royalty”). For purposes hereof, “Net Sales” means the total of gross amounts directly
or indirectly invoiced or charged to others or otherwise derived by Licensee from the sale of Licensed Products, reduced only
by the actual amount of returns. No other deductions, whether for unpaid or uncollectible accounts, commissions, chargebacks,
or other discounts given or costs incurred by Licensee shall be taken. A minimum sales royalty of $200,000 per year shall be paid
by Licensee to Licensor in year after the initial Term as provided in Section 2 of this Agreement.

 

Exhibit
A of the Agreement is deleted and replaced by the following:

 

Exhibit
A

 

Monster
Marks

 

MONSTER
DIGITAL

 

MONSTERDIGITAL.COM

 

M
(stylized) - see attached

 

Note:
M (stylized) and MONSTER DIGITAL are to always be used together and in compliance with the trademark usage guidelines of the Agreement.
MONSTER DIGITAL may be used separately in marketing text but only as approved by Licensor.

 

IN WITNESS
WHEREOF, the parties hereto have duly executed this Amendment the day and year first above written.

 

	 	LICENSOR:
	 	Monster Cable Products, Inc.
	 	 	 
	 	By:	
	 	Name:	 
	 	Title:	 
	 	Date:	 
	 	 
	 	LICENSEE:
	 	SDJ Technologies, Inc.
	 	 	 
	 	By:	/s/ Jawahar
    L. Tandon
	 	Name:	Jawahar L. Tandon
	 	Title:	Director
	 	Date:	August 24, 2011

 

    	 	CONFIDENTIAL	 
	 	2	 

     

    

 

AMENDMENT
#2 TO TRADEMARK LICENSE AGREEMENT

 

This
Amendment #2 (“Amendment 2”) to the
Trademark License Agreement dated
July 7, 2010 and Amendment #1 (collectively,
“Agreement”) is made and entered into effective as of April
4, 2012.
(the “Effective
Date”) between Monster, Inc. (formerly Monster Cable Products, Inc.), a California
corporation having an address at 455 Valley Drive, Brisbane, CA 94005 (“Licensor”),
and SDJ Technologies, Inc., a Delaware corporation having an address at 2125 B Madera Road, Simi Valley, CA
93065 (“Licensee”).

 

RECITALS

 

A.           The
parties to the original Agreement desire to amend certain terms
of the Agreement and are therefore entering into this Amendment 2 as provided for in Section 17.1 of the Agreement

 

NOW,
THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Licensor and Licensee (the “parties”)
agree to amend the Agreement
as follows:

 

Section 1.1 of the Agreement is deleted and replaced by the following:

 

1.1           Grant
of Rights. Subject to Section 1.4 herein, Licensor grants to Licensee the exclusive, nontransferable, non-sublicensable
right to use the Mark during the Term, throughout the world, excluding those territories prohibited by Section 17.4 (the “Territory,”),
in connection with the manufacture, design, distribution and sale of the products listed in Exhibit “B” (“Licensed
Products”), and subject to the terms and conditions of this Agreement and the requirements for use of the Mark provided
in writing to Licensee. This Agreement conveys no rights to use any other mark, including the MONSTER mark (other than as set
forth on Exhibit “A”). Exhibits “A” and “B” and the Territory may be updated from time to
time during the Term with the mutual written consent of each party, but no party shall be obligated to do so.

 

Section 1.2 of the Agreement its
deleted and replaced by the following:

 

1.2           Licensor
Purchases.
Licensor or its designee may purchase from Licensee, Licensed Products. The prices to be paid by licensor or its designee
for such purchases shall not exceed twenty percent (20%) above licensee’s standard costs, i.e. landed costs. Licensor shall
not sell products sourced from Licensee in a manner that undermines Licensee’s position in the marketplace.

 

    	 	CONFIDENTIAL	 
	 	1	 

     

    

 

Section
1.3 paragraphs (c) and (d)
of the Agreement are deleted and
replaced by the following;

 

		(a)	Restrictions.
                                         Licensee will not
                                         directly or indirectly, manufacture, distribute, offer for sale or sell any products
                                         bearing designs or of a styling the same as or substantially similar to the designs or
                                         styling of any Licensed Products with features developed specially for Licensed Products
                                         hereunder, (“Confusingly Similar Merchandise”). Also, Licenses will
                                         not assist or engage any third party in connection with the manufacture, distribution,
                                         offer for sale or sale of any Confusingly Similar Merchandise. Moreover,
                                         Licensee shall not solicit new business by using the Licensed products and/or
                                         Licensor's goodwill as an inducement to a third party by representing that Licensee can
                                         design, manufacture and/or market similar style products for a third party at a similar,
                                         higher or lower tier of distribution. If Licensor desires to enter into the memory
                                         products category itself, it will approach Licensee as a possible manufacturer before
                                         such manufacture or distribution begins.

 

		(b)	B Stock. Licensee shall
not sell any damaged, imperfect, substandard quality or defective goods (“B Stock”) under the Mark without the prior
written approval of Licensor. For the purposes of this Agreement, B Stock are goods which contain a production flaw or other mistakes
or problems which make the goods unsalable for full
line list price. Licensor shall be the sole determiner of whether any goods qualify as
B Stock and whether such B Stock may be sold under the Mark. All B Stock approved for sale shall be marked as such and Licensor
may, in its discretion, impose additional requirements on the disposal of B Stock, including without limitation, the removal of
logos and/or other brand identification. All B
Stock, which uses the Mark
on packaging or the product, is subject to the same Sales Royalty and other related fees and royalties payable to Licensor as for
sales of full-priced product.

 

Section 1.4 of the Agreement is deleted and replaced by the following:

 

1.4           Reservation
of Rights. Licensor may use and grant others the right to use any trademarks, logos, domain names and/or trademarks
for use in connection with any products within or outside the Territory except (i) the granting to others of the use of MONSTER
mark in connection with the manufacture, design, distribution sale or other similar exploitation of any products listed in Exhibit
"B” provided however that Licensor may so grant to others the use of MONSTER mark (but not the MONSTER DIGITAL mark
or the M (stylized) mark) if the primary purpose of such license is the settlement of a claim of infringement of the MONSTER mark
with that of the subject licensee and not the commercial exploitation of the MONSTER mark, (ii) Licensor itself may use (but not
sublicense) the MONSTER mark and the M (stylized) mark (but not the MONSTER DIGITAL mark) in connection with any products listed
in Exhibit “B” or other data memory products provided, that Licensor provides License with at least thirty (30) days
prior written notice of its intention to so enter
the market and offers Licensee the first right to supply such products on commercially
reasonable terms of an arrangement similar to this Agreement; (iii) to the extent such rights are not specifically granted to Licensee
under this Agreement or (iv) as otherwise expressly prohibited by the terms of this Agreement.

 

Section 2 of the Agreement is deleted and replaced by the following:

 

2.          Term.
The term of this Agreement
will commence as of the Effective Date and will terminate, subject to the terms herein and the payment of the minimum royalties
set forth below, on July 7, 2035 (the "Term"). In each of years 3, 4 and 5 of the Agreement, Licensee must pay Licensor
a minimum, royalty of $50,000 per quarter. In each of years 6, 7, 8, 9 and 10 of the Agreement, Licensee must pay Licensor a minimum
royalty of $125,000 per quarter. In each of years 11,12,13,14 and 15 of the Agreement, Licensee must pay Licensor a minimum royalty
of $187,500 per quarter. In each
of years 16, 17, 18, 19, 20, 21, 22, 23, 24 and 25 of the Agreement, Licensee must pay Licensor a minimum royalty of $250,000
per quarter. At any time during the Term of the Agreement or its extension, the parties may negotiate for a permanent license
payment.

 

    	 	CONFIDENTIAL	 
	 	2	 

     

    

 

Section 5 of the Agreement
is deleted and replaced by the following:

 

5.          Books
and Records: Audits. Licensee will prepare and maintain, in a manner which will enable Licensor’s accountants
to audit same in accordance with generally accepted accounting principles and with this Agreement, complete and accurate books
of account and records (including the originals or copies of documents supporting entries in the books of account) covering all
transactions relating to this Agreement, including those related to Licensee’s manufacturing operations, bill of materials,
inventory levels, costs and suppliers. Licensor and/or its representatives may, during regular business hours with fourteen (14)
days advance notice, during the Term and for three (3) years thereafter, audit these books of account and records and examine and
copy all documents and materials relating to this Agreement and allow the same access to its Contractors to the extent necessary
to validate the information provided hereunder. If any audit of licensee’s books and records discloses that Licensee’s
payments were less than the amount which should have been paid, all underpayment plus interest, commencing from the date payment
was initially due, at a rate equal to one and a half percent (1 1⁄2 %)
per month will be made immediately to Licensor. If the underpayment is five percent (5%) or more, Licensee will immediately reimburse
Licensor for the costs and expenses of the audit.

 

Section 6 of the Agreement is deleted and replaced by the following:

 

6.           Sales
Projections. Subject to the requirements of federal and state securities laws, within thirty (30) days following the end of the
previous calendar quarter, Licensee will deliver to Licensor, copies of all upfront sales projections and forecasts used internally
by Licensee in planning and projecting its Licensed Products business.

 

Section 8.4
is added to the Agreement as follow:

 

Section 8.4 Support Licensee and Licensor will cooperate to promote
and effect the offer and marketing of the Licensed Products though Licensor’s existing and future sales and distribution
channels.

 

Section 13.1.1 is added to the Agreement as follows;

 

Section 13.1.1          Termination
by Licensee.
Licensee may terminate this Agreement upon ninety (90) days prior written notice to Licensor.

 

Section 13.2 is deleted from the Agreement.

 

    	 	CONFIDENTIAL	 
	 	3	 

     

    

 

Exhibit B of the Agreement is deleted and replaced the following:

 

EXHIBIT B

 

LICENSED PRODUCTS

 

DRAM
Modules

USB Flash Drives

Flash based SD, M2, MicroSD, CF, ProDuo, card products

Flash based SSD drive products

Internal Power Supplies

Hybrid Drives

 

    	 	CONFIDENTIAL	 
	 	4	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have duly executed this Amendment the day and year first above written.

 

	 	LICENSOR:
	 	Monster, Inc.
	 	 	 
	 	By:	/s/ David
    Tognotti
	 	Name:	David
    Tognotti
	 	Title:	GM
     + VP
	 	Date:	April
    3, 2012
	 	 
	 	LICENSEE:
	 	SDJ Technologies, Inc,
	 	 	 
	 	By:	/s/ Jay
Tandon
	 	Name:	Jay
Tandon
	 	Title:	CEO
	 	Date:	April
    3, 2012

 

    	 	CONFIDENTIAL	 
	 	5	 

     

    

 

AMENDMENT NO. 3 TO

TRADEMARK LICENSE

AGREEMENT

 

This Amendment No. 3 to Trademark License
Agreement (“Amendment No. 3”) is made and entered into effective
as of August 18, 2015 (the “Effective Date”) by and between Monster, Inc.
f/k/a Monster Cable Products, Inc., a California corporation having an address at 455 Valley Drive, Brisbane, CA 94005 (“Licensor”),
SDJ Technologies, Inc., a Delaware corporation having an address at 2655 Park Center Drive, Unit C, Simi Valley, CA 93065
(“SDJ”), and Tandon Digital, Inc., a Delaware corporation having an address
at 2655 Park Center Drive, Unit C, Simi Valley, CA 93065 (“Parent”) (each
of above entities are sometimes referred to as a “Party” and are collectively
referred to as the “Parties”).

 

RECITALS

 

		A.	SDJ develops, manufactures, sells and distributes memory data storage
products;

 

		B.	On
                                         July 7, 2010, Licensor and SDJ executed a Trademark License Agreement (the “License
                                         Agreement”) relating to the license of the Monster trademark
                                         and logos with respect to the manufacture, design, distribution, and sale of certain
                                         memory data storage products;

 

		C.	On
                                         July 7, 2010 and April 4, 2012, Licensor and SDJ effected Amendment No. 1 and Amendment
                                         No. 2, respectively, to the Original License Agreement to further define the aforementioned
                                         granting of rights (“Amendment
                                         No. 1” and “Amendment
                                         No. 2”) (the License Agreement and Amendment Nos. 1 and 2 are
                                         collectively referred to as the “Original
                                         License Agreement”);

 

		D.	In 2010 SDJ became a wholly owned subsidiary of Parent;

 

		E.	SDJ has been manufacturing, selling and distributing certain memory
data storage products under the Mark of Licensor under the Original License Agreement;

 

		F.	Each of SDJ and Licensor wish to amend the Original License Agreement
to allow Parent to replace SDJ as the Licensee under the Original License Agreement and to permit Parent to sublicense SDJ to use
the licensed Mark as long as SDJ is a wholly owned subsidiary of Parent;

 

		G.	The
                                         Parties now desire that, in addition to the rights granted under the Original License
                                         Agreement, Parent as Licensee also be granted a license to use the name “Monster
                                         Digital, Inc.” (the “Licensed
                                         Name”) as the corporate name of Parent, and Licensor is willing
                                         to grant Parent as Licensee a license to use the Licensed Name subject to the terms and
                                         conditions of the Original License Agreement as amended by this Amendment No. 3; and

 

		H.	Further
                                         to this Amendment No. 3 and of even date hereof, Parent, Licensor and certain selected
                                         stockholders of Parent are entering into a Stockholders Agreement further to which Licensor
                                         is granted certain rights pertaining to the Tandon Shares, as that term is defined herein
                                         (the “Stockholders
                                         Agreement”).

 

     

     

    

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties
agree as follows:

 

1.          As
of the Effective Date, the party defined as the Licensee under the Original License Agreement, SDJ, shall be replaced with Parent
and the Parties understand and agree that the defined term “Licensee” in the Original License Agreement and this Amendment
No. 3 refers to Tandon Digital, Inc.

 

2.          Section
1.1 of the Original License Agreement is deleted and replaced by the following:

 

1.1           Grant
of Rights. Subject to Section 1.4 herein, Licensor grants to Licensee the exclusive, nontransferable, non-sublicensable
right (except as expressly provided below) to use the Mark, during the Term, throughout the world, excluding those territories
prohibited by Section 17.4 of the Original License Agreement (the “Territory”),
in connection with the manufacture, design, distribution and sale of the products listed in Exhibit “B” of
the Original License Agreement (“Licensed Products”),
and with respect to the Licensed Name, for the use of the name “Monster Digital, Inc.” as Parent’s corporate
name, subject to the terms and conditions of the Original License Agreement and this Amendment No. 3 (collectively, the “Agreement”)
and the requirements for use of the Mark and the Licensed Name as provided by Licensor in writing to Licensee from time
to time. This Agreement conveys no rights to use any other mark, including the MONSTER mark (other than as set forth on Exhibit
“A”). Exhibits A and B and the Territory may be updated from time to time during the Term with the mutual written
consent of each Party, but no Party shall be obligated to do so. Notwithstanding the foregoing, Licensee has the right to sublicense
to SDJ the right to use the Mark in connection with the manufacture, design, distribution and sale of Licensed Products, further
and subject to the terms and conditions of the Agreement but provided and only for so long as SDJ is a wholly-owned subsidiary
of Parent and by means of the execution of this Amendment No. 3, Licensor hereby consents to such sublicense by Licensee to SDJ.

 

3.          Sections
1.7 and 1.8 are added to the Original License Agreement to read in full as
follows:

 

1.7           For
so long as Licensee uses the Licensed Name as part of its operating, corporate, business
or company name under license from Licensor, neither Licensee nor SDJ will manufacture, offer, promote, advertise, distribute
or sell any products or services under or in connection with a trademark, brand, or trade name other than the Marks licensed by
Licensor to Licensee (and sublicensed to SDJ) under this Agreement (collectively, “Third-Party
Marks”) unless with Licensor’s prior written consent at Licensor’s sole discretion; provided,
however, that Parent and SDJ may continue to manufacture, offer, promote, advertise, distribute or sell only the following Licensed
Products as OEM products under the following Third-Party Marks as they were doing prior to the Effective Date: (i) Tantec, (ii)
Norton, (iii) HEB and on back of packaging and drive “powered by PhotoFast.” Notwithstanding the above, for so long
as Licensee is not permitted to sell Licensed Products under the Mark (“Branded
Products”) in Apple retail stores, Apple websites, and other Apple channels (collectively, the “Apple
Channels”), Parent and SDJ may sell Licensed Products bearing the Tantec mark in Apple Channels. At such
time Licensor resolves its litigation involving Beats et al., and following thereafter, Parent and SDJ will each use its best
efforts at all times to sell Branded Products into Apple Channels and, failing to sell Branded Products into Apple Channels within
a reasonable time, Licensee shall pay to Licensor one-half of the royalty due for sales of such Branded Products (i.e., for any
Branded Products bearing the Mark that require a 4% royalty payment, the payment for such sales of Unbranded Products will be
2%).

 

    	 	CONFIDENTIAL	 
	 	2	 

     

    

 

1.8           For
so long as Licensee uses the Licensed Name as part of its operating, corporate, business or company name under license from Licensor,
if Licensee acquires another company or business that manufactures, offers, promotes, advertises, distributes or sells any products
or services under or in connection with any Third-Party Marks (“Non-Compliant
Products”), Licensee shall have a reasonable time, but not more than one (1) year in which to: (a) in
the case of any Non-Compliant Products that are also Licensed Products, to transition such products globally from the Third-Party
Marks to the Marks licensed to Licensee under this Agreement, and (b) in the case of any Non-Compliant Products that are not Licensed
Products, to cease all promotion, advertising, distribution and sales of such Non-Compliant Products unless Licensor agrees, at
its sole discretion, to amend this Agreement to provide that such Non-Compliant Products can become Licensed Products under this
Agreement.

 

4.          Section
2 of the Original License Agreement is deleted and replaced by the following; 

 

2.          Term.
The term of this Agreement will commence as of the Effective Date and will terminate, subject to the terms herein and the payment
of the minimum royalties set forth below, on July 7, 2035 (the “Term”).
In each of years 3, 4, and 5 of the Agreement, Licensee must pay Licensor a minimum royalty of $50,000 per quarter. In
each of years 6, 7, 8, 9 and 10 of the Agreement, Licensee must pay Licensor a minimum royalty of $125,000 per quarter. In each
of years 11, 12, 13, 14 and 15 of the Agreement, Licensee must pay Licensor a minimum royalty of $187,500 per each quarter of
each year. In each of years 16, 17,18, 19, 20 21, 22, 23, 24 and 25 of the Agreement, Licensee must pay Licensor a minimum royalty
of $250,000 per each quarter of each year. At any time during the Term of this Agreement or any extension, the Parties may negotiate
for a permanent license payment. In addition to the foregoing, and in consideration for the rights granted to Licensee under Amendment
No. 3, on August 18, 2015, Parent shall issue to Licensor 5,681,558 shares of its common stock (the “Tandon
Shares”); such Tandon Shares are subject to possible forfeiture further to the provisions of Section 13.1.2
herein. As additional consideration for the license grant to use the Licensed Name, the sum of Five Hundred Thousand Dollars ($500,000)
shall be paid by Licensee as follows: four quarterly payments of One Hundred Twenty Five Thousand Dollars ($125,000) each due
on the first day of the calendar quarter commencing on October 1, 2015 and ending on July 1, 2016; provided, however, that upon
the effective date of the initial public offering of Parent’s common stock (the “IPO”),
if any, Licensee will pay in full to Licensor any remaining balance of such $500,000 additional consideration.

 

    	 	CONFIDENTIAL	 
	 	3	 

     

    

 

5.          Section
12.2 of the Original License Agreement is deleted and replaced by the
following:

 

12.2         Licensee
Indemnification. Licensee will indemnify and hold Licensor, and its affiliates, and their members, partners, officers,
directors, employees and agents harmless from and against, any losses, liabilities, suites, damages and expenses (including interest,
penalties and reasonable attorneys’ fees and expenses) (“Claim(s)”) (i) brought by or on behalf of any of SDJ
and/or Licensee’s employees, customers (including immediate and downstream customers), Contractors, suppliers, independent
sales agents or representatives, (ii) arising from SDJ and/or Licensee’s breach of any of its obligations, representations
or warranties made hereunder; and (iii) except to the extent of Licensor’s indemnification obligations under Section 12.1
above, arising out of the Licensed Products, including without limitation Claims of infringement, product defect and product liability.
Further, Licensee will indemnify and hold Licensor and its affiliates, and their members, partners, officers, directors, employees
and agents harmless from and against any Claims related in any way related to Licensee or a related Licensee entity’s use
of, or any actions or activities by Licensee or a related Licensee entity under or utilizing, “Monster” as a corporate
name (including, but not limited to, “Monster Digital, Inc.” and “Monster Digital”). Licensor will have
the option of controlling the litigation and retention of counsel and Licensee will reimburse Licensor for the reasonable expense
of the action, claim, or proceeding as incurred by Licensor.

 

6.          Section
13.1.2 is added to the Original License Agreement to read in full as follows:

 

Section 13.1.2           Termination
of the Right to use Licensed Name by Licensee.

 

(a)  
In the event Parent does not effect the IPO of Parent on the NASDAQ Global
Market on or before August 18, 2017, Licensor shall have the option to immediately terminate the license grant allowing Parent
to use the Licensed Name as its corporate name and to sublicense SDJ in which case (i) Parent and SDJ shall cease all use of, and
neither SDJ nor Parent nor any related entity shall use in the future, Monster Digital, Inc., the Mark, or any derivative of the
Mark as its operating, corporate, business or company name and shall take all steps and sign all documents necessary to cease any
and all such use of “Monster Digital” or the Mark or variations thereof, and (ii) Licensor shall return all of the
Tandon Shares to Licensee for cancellation. If Licensor exercises its option under this section 13.1.2(a), Parent and SDJ shall
have sixty (60) days in which to cease all use of any such operating, corporate, business or company name.

 

(b)  
At any time prior to the earlier of the effective date of the IPO of Parent
on the NASDAQ Global Market or August 18, 2017, Licensor may agree to retain the Tandon Shares and forfeit its ability to exercise
its rights under Section 13.1.2(a) of this Agreement in which case Section 13.1.2(a) shall then have no further force and effect.
This provision, however, does not preclude Licensor from objecting to any operating, corporate, business or company name that does
not comply with this Agreement.

 

    	 	CONFIDENTIAL	 
	 	4	 

     

    

 

(c)  In
the event that Licensor exercises its “Co-Sale Rights” further to Section 5 of that certain Stockholders’ Agreement
by and among Licensor, Licensee and certain other stockholders of Licensee dated as of August 18, 2015, Licensor shall be deemed
to have agreed to retain the Tandon Shares and to have forfeited its ability to exercise any rights further to Section 13.1.2(a)
in which case Section 13.1.2(a) shall then have no further force and effect. This provision, however, does not preclude Licensor
from objecting to any operating, corporate, business or company name that does not comply with this Agreement.

 

7.          Exhibit
A of the Original License Agreement is deleted and replaced by the
following;

 

EXHIBIT ‘A”

 

Monster
Marks

 

MONSTER DIGITAL

 

MONSTERDIGITAL.COM

 

M (stylized) - see attached

 

Note: M (stylized) and MONSTER DIGITAL are to always be used together
and in compliance with the trademark usage guidelines of the Agreement. MONSTER DIGITAL may be used as Licensee’s corporate
name (Monster Digital, Inc.) or separately in marketing text.

 

IN WITNESS WHEREOF, the parties hereto have
duly executed this Amendment No. 3 as the day and year first above written.

 

	 	LICENSOR:
	 	 
	 	MONSTER, INC.
	 	 	 
	 	By:	/s/ Neal A. Bobrick
	 	Name:	Neal A. Bobrick
	 	Title:	President
	 	Date:	8-17-15

 

    	 	CONFIDENTIAL	 
	 	5	 

     

    

 

	 	SDJ:
	 	 
	 	SDJ TECHNOLOGIES, INC.
	 	 	 
	 	By:	/s/ Vivek Tandon
	 	Name:	Vivek Tandon
	 	Title:	President
	 	 
	 	PARENT AND LICENSEE:
	 	 
	 	TANDON DIGITAL, INC.
	 	 	 
	 	By:	/s/ Vivek Tandon
	 	Name:	Vivek Tandon
	 	Title:	President

 

    	 	CONFIDENTIAL	 
	 	6	 

        	 

    

 

 

AMENDMENT NO. 4 TO TRADEMARK.
LICENSE AGREEMENT

 

This Amendment No. 4 to Trademark License
Agreement ( “Amendment No. 4”)” is made and entered into effective as of September 6, 2015(the “Effective
Date'') by and between Monster, Inc. f/k/a Monster Cable Products, Inc., a California corporation having an address at 455
Valley Drive, Brisbane, CA 94005 (“Licensor”), SDJ Technologies, Inc., a Delaware corporation having an address
at 2655 Park Center Drive, Unit C, Simi Valley, CA 93065 (“SDJ”), and Tandon Digital, Inc., a Delaware corporation
having an address at 2655 Park Center Drive, Unit C, Simi Valley, CA 93065 (“Parent”) (each of above entities
are sometimes referred to as a “Party” and are collectively referred to as the “Parties”).

 

RECITALS

 

		A.	Licensee develops, manufactures, sells and distributes memory data storage and other products.

 

		B.	On July 7, 2010, Licensor and SDJ executed a Trademark License Agreement (the “License
Agreement”) relating to the license of the Monster trademark and logos with respect to the manufacture, design, distribution,
and sale of certain memory data storage products;

 

		C.	On July 7, 2010, April 4, 2012 and August 18, 2015 Licensor and SDJ effected Amendment No. 1,
Amendment No. 2 and Amendment No. 3, respectively, to the Original License Agreement to further define the aforementioned granting
of rights (“Amendment No. 1”, “Amendment No. 2” and “Amendment No. 3”)
(the License Agreement and Amendment Nos. 1, 2 and 3 are collectively referred to as the “Original License Agreement”);

 

		D.	Each of Parties wish to amend Exhibit “B” to the Original License Agreement to expand
the scope of what may be sold under the License to include action sports cameras and Cable Memory;

.

 

NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

 

 

 

    	 

    	 

    

 

 

1. Exhibit B of the Original License Agreement is deleted
and replaced by the following:

 

 

EXHIBIT B

 

LICENSED PRODUCTS

 

DRAM Modules

USB Flash Drives

Flash Based SD, M2, MicroSD, CF, ProDuo,
card products

Inernal Power Supplies for pc’s

Hybrid Drives

Action Sports Cameras

Cable Memory

 

 

 

 

 

 

 

 

 

(signature page on following page)

 

 

 

 

 

 

 

 

 

 

 

    	CONFIDENTIAL
2

    	 

    

 

 

IN WITNESS WHEREOF, the parties hereto have
duly executed this Amendment No. 4 as the day and year first above written.

 

	 	LICENSOR:
	 	Monster, Inc.
	 	 
	 	By: /s/ Ajay Vadera
	 	Name: Ajay Vadera
	 	Title: Chief Financial Officer
	 	Date:                                       
	 	 
	 	
        SDJ:

         

         

	 	SDJ TECHNOLOGIES, INC.
	 	 
	 	By: /s/ Vivek Tandon
	 	Name: Vivek Tandon
	 	Title:                                      
	 	   
	 	
        PARENT:

         

	 	 TANDON DIGITAL, INC.
	 	 
	 	By: /s/ Vivek Tandon
	 	Name: Vivek Tandon
	 	Title:                                        

 

 

    	CONFIDENTIAL
3

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