Document:

For U.S. Investors:

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THESE SECURITIES
MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH
RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH RULE 144 OR 144A THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS, (D) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR (E) IN A TRANSACTION THAT DOES NOT
REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS, PRIOR TO SUCH SALE,
FURNISHED TO THE COMPANY AN OPINION OF COUNSEL OR OTHER EVIDENCE OF EXEMPTION, IN EITHER CASE REASONABLY SATISFACTORY TO THE COMPANY.
HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE U.S. SECURITIES ACT.

 

For Non-U.S. Investors:

 

THESE SECURITIES WERE ISSUED IN AN OFFSHORE
TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED (THE “1933 ACT”). ACCORDINGLY, NONE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE
BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD IN
THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT
TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT, AND IN EACH CASE ONLY
IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED
UNLESS IN ACCORDANCE WITH THE 1933 ACT.

 

10% SECURED CONVERTIBLE PROMISSORY
NOTE

 

Max
Cash Media, Inc.

 

DUE [_______], 2012

 

	Original Issue Date: [_______], 2012	US$[______]

 

This Secured Convertible
Promissory Note is one of a series of duly authorized and issued secured convertible promissory notes of Max Cash Media, Inc.,
a Nevada corporation (the “Company”), designated its 10% Secured Convertible Promissory Notes due [_______],
2012 (the “Note”), issued to [______________________] (together with its permitted
successors and assigns, the “Holder”) in accordance with exemptions from registration under the Securities
Act of 1933, as amended (the “Securities Act”), pursuant to a Securities Purchase Agreement, dated [_______],
2012 (the “Purchase Agreement”) between the Company and the Holder. Capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Purchase Agreement.

 

    	 

    	 

    

 

Article I.

 

Section 1.01         Principal
and Interest. (a) For value received, the Company hereby promises to pay to the order of the Holder, in lawful money of the
United States of America and in immediately available funds the principal sum of ____________________ Dollars ($__________)
on [_______], 2012 (the “Maturity Date”)

 

(b)          The
Borrower further promises to pay interest on the unpaid principal amount of this Note at a rate per annum equal to ten percent
(10%), payable on the Maturity Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months for the actual
number of days elapsed.

 

(c)          Except
as otherwise set forth in this Note, the Company may not prepay any portion of the principal amount of this Note without the prior
written consent of the Holder.

 

Section 1.02         [RESERVED]

 

Section
1.03         Mandatory Conversion. (a) Upon
the closing of the Merger and the simultaneous closing on at least the Minimum PPO amount, all of the outstanding principal amount
of this Note shall automatically, without the necessity of any action by the Holder or the Company, convert into (i) Conversion
Units of the Company at a price (the “Conversion Price”) of $0.25 per Conversion Unit, and (ii) Conversion
Warrants of the Company to purchase such number of shares of Common Stock of the Company as is equal to the number of Conversion
Units of the Company into which the Note is convertible pursuant to (i) above, all subject to adjustment as provided herein. No
fraction of Conversion Units, or scrip representing fractions thereof will be issued on conversion,
but the number of Conversion Units shall be rounded to the nearest whole number of Conversion Units. 

 

(b)          Upon
the closing of the Merger and the simultaneous closing on at least the Minimum PPO amount, all of the accrued but unpaid interest
on this Note shall be automatically, without the necessity of any action by the Holder or the Company, be forgiven.

 

(c)          Upon
the closing of the Merger and the simultaneous closing on at least the Minimum PPO amount, the holder of this Note shall be entitled
to receive Conversion Warrants of the Company.

 

(d)          The
date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be the date on
which the Merger closes and the Company closes on at least the Minimum PPO amount. The number of Conversion Units issuable upon
conversion of this Note shall equal the quotient obtained by dividing (x) the outstanding principal amount of this Note on the
Conversion Date by (y) the Conversion Price then in effect. The calculation by the Company of the number of Conversion Units to
be received by the Holder upon conversion hereof, and of the applicable Conversion Price, shall be conclusive absent manifest error.

 

(e)          Maximum
Conversion. Notwithstanding anything to the contrary contained in this Note, this Note shall not be convertible by the Holder
hereof to the extent (but only to the extent) that such conversion would cause the Holder and its affiliates (if they are not,
prior to such conversion, already beneficial owners of greater than 4.99% (the “Maximum Percentage”) of the
Company’s outstanding Common Stock) to beneficially own in excess of the Maximum Percentage of the Company’s outstanding
Common Stock; provided, however, that the Holder may waive the limitation imposed by this subsection, and/or increase the Maximum
Percentage to some other amount, upon at least sixty-one (61) days prior written notice to the Company. For the purposes of this
paragraph, beneficial ownership and all determinations and calculations (including, without limitation, with respect to calculations
of percentage ownership) shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. The limitations contained in this paragraph shall apply to a successor Holder of this Note.

 

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Section 1.04         Reservation
of Common Stock. As set forth in the Purchase Agreement, the Company shall reserve and keep available out of its authorized
but unissued shares of Common Stock, solely for the purpose of conversion of this Note, that number of shares of Common Stock equal
to the number of shares of Common Stock into which the Note is convertible based upon the then applicable Conversion Price, including
the shares of Common Stock underlying the Conversion Units and the Conversion Warrants.

 

Section 1.05         Absolute
Obligation/Ranking. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, and liquidated damages (if any) on, this Note at the
time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company. This
Note ranks pari passu with all other Notes now or hereinafter issued pursuant to the Purchase Agreement.

 

Section 1.06         Paying
Agent and Registrar. Initially, the Company will act as paying agent and registrar. The Company may change any paying agent,
registrar, or Company-registrar by giving the Holder not less than ten (10) business days’ written notice of its election
to do so, specifying the name, address, telephone number and facsimile number of the paying agent or registrar. The Company may
act in any such capacity.

 

Section 1.07         Different
Denominations. This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations,
as requested by the Holder surrendering the same. No service charge will be made for such registration of transfer or exchange.

 

Section 1.08         Investment
Representations. This Note has been issued subject to certain investment representations of the original Holder set forth in
the Purchase Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal
and state securities laws and regulations.

 

Section 1.09         Reliance
on Note Register. Prior to due presentment to the Company for transfer or conversion of this Note, the Company and any agent
of the Company may treat the person in whose name this Note is duly registered on the Note Register as the owner hereof for the
purpose of receiving payment as herein provided and for all other purposes, whether or not this Note is overdue, and neither the
Company nor any such agent shall be affected by notice to the contrary.

 

Section 1.10         Security;
Other Rights. The obligations of the Company to the Holder under this Note are secured pursuant to the Company Security Agreement
of even date herewith between the Borrower and the Holders of the Notes. In addition to the rights and remedies given it by this
Note, the Purchase Agreement and the Company Security Agreement, the Holder shall have all those rights and remedies allowed by
applicable laws. The rights and remedies of the Holder are cumulative and recourse to one or more right or remedy shall not constitute
a waiver of the others.

 

Article II.

 

Section 2.01         Amendments
and Waiver of Default. Except as otherwise provided herein, the Note may not be amended without the consent of the Holder.

 

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Article III.

 

Section 3.01         Events
of Default. Each of the following events shall constitute a default under this Note (each an “Event of Default”),
except as related to :

 

(a)          failure
by the Company to pay principal amount due hereunder within five (5) days of the date such payment is due;

 

(b)          [RESERVED]

 

(c)          failure
by the Company for five (5) days after notice to it to comply with any of its other agreements in the Note;

 

(d)          an
Event of Default specified in the Company Security Agreement shall have occurred and be continuing, or the Company Security Agreement
shall fail to remain in full force and effect, or any action shall be taken to discontinue the Company Security Agreement or to
assert the invalidity thereof;

 

(e)          the
Company shall: (1) make a general assignment for the benefit of its creditors; (2) apply for or consent to the appointment
of a receiver, trustee, assignee, custodian, sequestrator, liquidator or similar official for itself or any of its assets and properties;
(3) commence a voluntary case for relief as a debtor under the United States Bankruptcy Code; (4) file with or otherwise
submit to any governmental authority any petition, answer or other document seeking: (A) reorganization, (B) an arrangement
with creditors or (C) to take advantage of any other present or future applicable law respecting bankruptcy, reorganization,
insolvency, readjustment of debts, relief of debtors, dissolution or liquidation; (5) file or otherwise submit any answer
or other document admitting or failing to contest the material allegations of a petition or other document filed or otherwise submitted
against it in any proceeding under any such applicable law, or (6) be adjudicated a bankrupt or insolvent by a court of competent
jurisdiction;

 

(f)          any
case, proceeding or other action shall be commenced against the Company for the purpose of effecting, or an order, judgment or
decree shall be entered by any court of competent jurisdiction approving (in whole or in part) anything specified in Section 3.01(d)
hereof, or any receiver, trustee, assignee, custodian, sequestrator, liquidator or other official shall be appointed with respect
to the Company, or shall be appointed to take or shall otherwise acquire possession or control of all or a substantial part of
the assets and properties of the Company, and any of the foregoing shall continue unstayed and in effect for any period of sixty
(60) days;

 

(g)          default
shall occur with respect to any indebtedness for borrowed money of the Company or under any agreement under which such indebtedness
may be issued by the Company and such default shall continue for more than the period of grace, if any, therein specified, if the
aggregate amount of such indebtedness for which such default shall have occurred exceeds $25,000, except for any default related
to indebtedness existing on the date hereof and set forth in Schedule A attached hereto;

 

(h)          default
shall occur with respect to any contractual obligation of the Company under or pursuant to any contract, lease, or other agreement
to which the Company is a party and such default shall continue for more than the period of grace, if any, therein specified, if
the aggregate amount of the Company’s contractual liability arising out of such default exceeds or is reasonably estimated
to exceed $25,000, except for any default related to obligations existing on the date hereof and set forth in Schedule A
attached hereto;

 

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(i)          final
judgment for the payment of money in excess of $25,000 shall be rendered against the Company and the same shall remain undischarged
for a period of twenty (20) days during which execution shall not be effectively stayed, except for any judgment related to obligations
existing on the date hereof and set forth in Schedule A attached hereto;

 

(j)          any
event of default of the Company under any agreement, note, mortgage, security agreement or other instrument evidencing or securing
indebtedness that ranks senior in priority to, or pari passu with, the obligations under this Note and the Purchase Agreement,
except for any default related to obligations existing on the date hereof and set forth in Schedule A attached hereto;

 

(k)          any
event of default by Newco or the Pledgors under the Newco Note, the Newco Pledge Agreement or the Newco Security Agreement shall
have occurred and be continuing, or the Newco Note, the Newco Pledge Agreement or the Newco Security Agreement shall fail to remain
in full force and effect prior to payment in full of all amounts payable under the Newco Note, or any action shall be taken to
discontinue the Newco Pledge Agreement or the Newco Security Agreement or to assert the invalidity thereof prior to payment in
full of all amounts payable under the Newco Note;

 

(l)          the
Common Stock shall not be eligible for quotation on or quoted for trading on the OTC Bulletin Board and shall not again be eligible
for and quoted for trading thereon within five (5) trading days;

 

(m)        any
breach by the Company of any of its representations or warranties under the Purchase Agreement; or

 

(n)         any
default, whether in whole or in part, shall occur in the due observance or performance of any obligations or other covenants, terms
or provisions to be performed under this Note or the Purchase Agreement which is not cured by the Company within five (5) days
after receipt of written notice thereof.

 

Section 3.02         If
any Event of Default specified in clauses 3.01(e) or (f) occurs, then the full principal amount of this Note, together with any
other amounts owing in respect thereof, to the date of the Event of Default, shall become immediately due and payable without any
action on the part of the Holder, and if any other Event of Default occurs, the full principal amount of this Note, together with
any other amounts owing in respect thereof, to the date of acceleration shall become, at the Holder’s election, immediately
due and payable in cash. Commencing five (5) days after the occurrence of any Event of Default that results in the eventual
acceleration of this Note, interest on this Note shall begin to accrue at the rate of interest specified in Section 1.01(b) PLUS
five percent (5%) per annum, or such lower maximum amount of interest permitted to be charged under applicable law. All Notes
for which the full amount hereunder shall have been paid in accordance herewith shall promptly be surrendered to or as directed
by the Company. The Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of
any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law. Such declaration may be rescinded and annulled by the Holder
at any time prior to payment hereunder and the Holder shall have all rights as a Note holder until such time, if any, as the full
payment under this Section shall have been received by it. No such rescission or annulment shall affect any subsequent Event of
Default or impair any right consequent thereon.

 

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Article IV.

 

Section 4.01         Negative
Covenants. So long as this Note shall remain in effect and until any outstanding principal and interest and all fees and all
other expenses or amounts payable under this Note and the Purchase Agreement have been paid in full, unless all Holders shall otherwise
consent in writing, the Company shall not:

 

(a)          Senior
or Pari Passu Indebtedness. Incur, create, assume, guaranty or permit to exist any indebtedness that ranks senior in priority
to, or pari passu with, the obligations under this Note and the Purchase Agreement, except for (i) indebtedness existing on the
date hereof and set forth in Schedule B attached hereto and only to the extent that such indebtedness ranks senior in priority
to or pari passu with the obligations under this Note and the Purchase Agreement on the Original Issue Date and (ii) indebtedness
created as a result of a subsequent financing if the gross proceeds to the Company of such financing are equal to or greater than
the aggregate principal amount of the Notes and the Notes are repaid in full upon the closing of such financing.

 

(b)          Liens.
Create, incur, assume or permit to exist any lien on any property or assets (including stock or other securities of the Company)
now owned or hereafter acquired by it or on any income or revenues or rights in respect of any thereof, except:

 

(i)          liens
on property or assets of the Company existing on the date hereof and set forth in Schedule C attached hereto, provided that
such liens shall secure only those obligations which they secure on the date hereof;

 

(ii)         any
lien created under this Note or the Purchase Agreement;

 

(iii)        any
lien existing on any property or asset prior to the acquisition thereof by the Company, provided that

 

1)   such
lien is not created in contemplation of or in connection with such acquisition and

 

2)   such
lien does not apply to any other property or assets of the Company;

 

(iv)        liens
for taxes, assessments and governmental charges;

 

(v)         carriers’,
warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s or other like liens arising in
the ordinary course of business and securing obligations that are not due and payable;

 

(vi)        pledges
and deposits made in the ordinary course of business in compliance, with workmen’s compensation, unemployment insurance and
other social security laws or regulations;

 

(vii)       deposits
to secure the performance of bids, trade contracts (other than for indebtedness), leases, statutory obligations, surety and appeal
bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business;

 

(viii)      zoning
restrictions, easements, licenses, covenants, conditions, rights-of-way, restrictions on use of real property and other similar
encumbrances incurred in the ordinary course of business and minor irregularities of title that, in the aggregate, are not substantial
in amount and do not materially detract from the value of the property subject thereto or interfere with the ordinary conduct of
the business of the Company;

 

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(ix)         purchase
money security interests in real property, improvements thereto or equipment hereafter acquired (or, in the case of improvements,
constructed) by the Company, provided that

 

1)   such
security interests secure indebtedness permitted by this Note,

 

2)   such
security interests are incurred, and the indebtedness secured thereby is created, within 90 days after such acquisition (or construction),

 

3)   the
indebtedness secured thereby does not exceed 85% of the lesser of the cost or the fair market value of such real property, improvements
or equipment at the time of such acquisition (or construction) and

 

4)   such
security interests do not apply to any other property or assets of the Company;

 

(x)          liens
arising out of judgments or awards (other than any judgment that constitutes an Event of Default hereunder) in respect of which
the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which it shall have secured
a subsisting stay of execution pending such appeal or proceedings for review, provided the Company shall have set aside on its
books adequate reserves with respect to such judgment or award; and

 

(xi)         deposits,
liens or pledges to secure payments of workmen’s compensation and other payments, public liability, unemployment and other
insurance, old-age pensions or other social security obligations, or the performance of bids, tenders, leases, contracts (other
than contracts for the payment of money), public or statutory obligations, surety, stay or appeal bonds, or other similar obligations
arising in the ordinary course of business.

 

(c)          Dividends
and Distributions. In the case of the Company, declare or pay, directly or indirectly, any dividend or make any other distribution
(by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, with respect to any shares
of its capital stock or directly or indirectly redeem, purchase, retire or otherwise acquire for value any shares of any class
of its capital stock or set aside any amount for any such purpose.

 

(d)          Limitation
on Certain Payments and Prepayments.

 

(i)          Pay
in cash any amount in respect of any indebtedness or preferred stock that may at the obligor’s option be paid in kind or
in other securities; or

 

(ii)         Optionally
prepay, repurchase or redeem or otherwise defease or segregate funds with respect to any indebtedness of the Company, other than
for senior indebtedness existing on the date hereof and set forth in Schedule B attached hereto, indebtedness under this
Note or the Purchase Agreement.

 

Article V.

 

[RESERVED]

 

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Article VI.

 

Section 6.01         Anti-dilution.
Adjustment of Conversion Price. The Conversion Price shall be adjusted from time to time as follows:

 

(a)          Adjustment
of Conversion Price and Number of Conversion Units and Conversion Warrants upon Issuance of Common Stock. If at any time after
the Original Issue Date that this Note remains issued and outstanding, the Company issues or sells, or is deemed to have issued
or sold, any shares of Common Stock (including shares of Common Stock in the PPO, if any) other than upon issuance, exercise or
conversion of the Other Securities (as defined herein) for a consideration per share less than a price (the “Applicable
Price”) equal to the Conversion Price in effect immediately prior to such issuance or sale (the “Dilutive Issuance”),
then immediately after such issue or sale the Conversion Price then in effect shall be reduced by multiplying the Conversion Price
by a fraction, the numerator of which is the number of shares of Common Stock issued and outstanding on a fully-diluted, as converted,
basis immediately prior to the Dilutive Issuance plus the number of shares of Common Stock which the offering price for such Dilutive
Issuance would purchase at the then Conversion Price, and the denominator of which shall be the sum of the number of shares of
Common Stock issued and outstanding on a fully-diluted, as converted, basis immediately prior to the Dilutive Issuance plus the
number of shares of Common Stock so issued or issuable in connection with the Dilutive Issuance.

 

(b)          Effect
on Conversion Price of Certain Events. For purposes of determining the adjusted Conversion Price under Section 6.01(a) above,
the following shall be applicable:

 

(i)          Issuance
of Options. If after the date hereof while the Note remains issued and outstanding the Company in any manner grants any rights,
warrants or options to subscribe for or purchase Common Stock or convertible securities (“Options”), other than
Other Securities, and the lowest price per share for which one share of Common Stock is issuable upon the exercise of any such
Option or upon conversion or exchange of any convertible securities issuable upon exercise of any such Option is less than the
Conversion Price then in effect, then such share of Common Stock shall be deemed to be outstanding and to have been issued and
sold by the Company at the time of the granting or sale of such Option for such price per share. For purposes of this Section 6.01(b)(i),
the lowest price per share for which one share of Common Stock is issuable upon exercise of such Options or upon conversion or
exchange of such convertible securities shall be equal to the sum of the lowest amounts of consideration (if any) received or receivable
by the Company with respect to any one share of Common Stock upon the granting or sale of the Option, upon exercise of the Option
or upon conversion or exchange of any other convertible security other than this Note issuable upon exercise of such Option. No
further adjustment of the Conversion Price shall be made upon the actual issuance of such Common Stock or of such convertible securities
upon the exercise of such Options or upon the actual issuance of such Common Stock upon conversion or exchange of such convertible
securities.

 

(ii)         Issuance
of Convertible Securities. If the Company in any manner issues or sells any convertible securities after the Original Issue
Date while this Note remains issued and outstanding, other than Other Securities, and the lowest price per share for which one
share of Common Stock is issuable upon the conversion or exchange thereof is less than the Conversion Price then in effect, then
such share of Common Stock shall be deemed to be outstanding and to have been issued and sold by the Company at the time of the
issuance or sale of such convertible securities for such price per share. For the purposes of this Section 6.01(b)(ii), the
lowest price per share for which one share of Common Stock is issuable upon such conversion or exchange shall be equal to the sum
of the lowest amounts of consideration (if any) received or receivable by the Company with respect to one share of Common Stock
upon the issuance or sale of the convertible security and upon conversion or exchange of such convertible security. No further
adjustment of the Conversion Price shall be made upon the actual issuance of such Common Stock upon conversion or exchange of such
convertible securities, and if any such issue or sale of such convertible securities is made upon exercise of any Options for which
adjustment of the Conversion Price had been or are to be made pursuant to other provisions of this Section 6.01(b), no further
adjustment of the Conversion Price shall be made by reason of such issue or sale.

 

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(iii)        Change
in Option Price or Rate of Conversion. If the purchase price provided for in any Options issued while this Note remains issued
and outstanding, the additional consideration, if any, payable upon the issue, conversion or exchange of any convertible securities,
or the rate at which any convertible securities are convertible into or exchangeable for Common Stock changes at any time, the
Conversion Price in effect at the time of such change shall be adjusted to the Conversion Price which would have been in effect
at such time had such Options or convertible securities provided for such changed purchase price, additional consideration or changed
conversion rate, as the case may be, at the time initially granted, issued or sold and the number of shares of Common Stock issuable
upon conversion of this Note shall be correspondingly readjusted. For purposes of this Section 6.01(b)(iii), if the terms of any
Option or convertible security that was outstanding as of the Original Issue Date are changed in the manner described in the immediately
preceding sentence, then such Option or convertible security and the Common Stock deemed issuable upon exercise, conversion or
exchange thereof shall be deemed to have been issued as of the date of such change. No adjustment pursuant to this Section 6.01(b)
shall be made if such adjustment would result in an increase of the Conversion Price then in effect.

 

(c)          Effect
on Conversion Price of Certain Events. For purposes of determining the adjusted Conversion Price under Sections 6.01(a)
and 6.01(b), the following shall be applicable:

 

(i)          Calculation
of Consideration Received. If any Common Stock, Options or convertible securities are issued or sold or deemed to have been
issued or sold for cash, the consideration received therefore will be deemed to be the net amount received by the Company therefore.
If any Common Stock, Options or convertible securities are issued or sold for a consideration other than cash, the amount of such
consideration received by the Company will be the fair value of such consideration, except where such consideration consists of
marketable securities, in which case the amount of consideration received by the Company will be the market price of such securities
on the date of receipt of such securities (measured by the closing sale price of such securities on the Over-the-Counter Bulletin
Board or its principal trading market). If any Common Stock, Options or convertible securities are issued to the owners of the
non-surviving entity in connection with any merger in which the Company is the surviving entity, the amount of consideration therefore
will be deemed to be the fair value of such portion of the net assets and business of the non-surviving entity as is attributable
to such Common Stock, Options or convertible securities, as the case may be. The fair value of any consideration other than cash
or securities will be determined jointly by the Company and the holders of the principal amount of the Notes then outstanding.
If such parties are unable to reach agreement within ten (10) days after the occurrence of an event requiring valuation (the
“Valuation Event”), the fair value of such consideration will be determined within five (5) Business Days after
the tenth (10th) day following the Valuation Event by an independent, reputable appraiser jointly selected by the
Company and the holders of the principal amount of the Notes then outstanding. The determination of such appraiser shall be final
and binding upon all parties and the fees and expenses of such appraiser shall be borne by the Company.

 

(ii)         Integrated
Transactions. In case any Option is issued in connection with the issue or sale of other securities of the Company, together
comprising one integrated transaction in which no specific consideration is allocated to such Options by the parties thereto, the
Options will be deemed to have been issued for a consideration equal to the per share par value of the Common Stock.

 

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(iii)        Treasury
Shares. The number of shares of Common Stock outstanding at any given time does not include shares owned or held by or for
the account of the Company, and the disposition of any shares so owned or held will be considered an issue or sale of Common Stock.

 

(iv)        Record
Date. If the Company takes a record of the holders of Common Stock for the purpose of entitling them (1) to receive a
dividend or other distribution payable in Common Stock, Options or in convertible securities or (2) to subscribe for or purchase
Common Stock, Options or convertible securities, then such record date will be deemed to be the date of the issue or sale of the
shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend or the making of such other distribution
or the date of the granting of such right of subscription or purchase, as the case may be.

 

(d)          Adjustment
of Conversion Price upon Subdivision or Combination of Common Stock. If the Company at any time after the date of issuance
of this Note while this Note remains issued and outstanding subdivides (by any stock split, stock dividend, recapitalization or
otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Conversion Price
or Future Price in effect immediately prior to such subdivision will be proportionately reduced. If the Company at any time after
the date of issuance of this Note combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding
shares of Common Stock into a smaller number of shares, the Conversion Price or Future Price in effect immediately prior to such
combination will be proportionately increased. Any adjustment under this Section 6.01(d) shall become effective at the close
of business on the date the subdivision or combination becomes effective.

 

(e)          Distribution
of Assets. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its
assets) to holders of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of
cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement
or other similar transaction) (a “Distribution”), at any time after the issuance of this Note while this Note
remains issued and outstanding, then, in each such case the Conversion Price in effect immediately prior to the close of business
on the record date fixed for the determination of holders of Common Stock entitled to receive the Distribution shall be reduced,
effective as of the close of business on such record date, to a price determined by multiplying such Conversion Price by a fraction
of which (A) the numerator shall be the closing bid price of the Common Stock on the trading day immediately preceding such record
date minus the value of the Distribution (as determined in good faith by the Company’s Board of Directors) applicable to
one share of Common Stock, and (B) the denominator shall be the closing bid price of the Common Stock on the trading day immediately
preceding such record date.

 

(f)          Certain
Events. If any event occurs of the type contemplated by the provisions of this Section 6.01 but not expressly provided
for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other
rights with equity features but excluding the Recapitalization, as such term is defined in the Purchase Agreement), then the Company’s
Board of Directors will make an appropriate adjustment in the Conversion Price so as to protect the rights of the holders of the
Note; provided, except as set forth in Section 6.01(d), that no such adjustment pursuant to this Section 6.01(f) will increase
the Conversion Price as otherwise determined pursuant to this Section 6.01.

 

(g)          Notices.

 

(i)          Immediately
upon any adjustment of the Conversion Price, the Company will give written notice thereof to the holder of this Note, setting forth
in reasonable detail, and certifying, the calculation of such adjustment.

 

    	10

    	 

    

 

(ii)         The
Company will give written notice to the holder of this Note at least ten (10) days prior to the date on which the Company closes
its books or takes a record (A) with respect to any dividend or distribution upon the Common Stock, (B) with respect
to any pro rata subscription offer to holders of Common Stock or (C) for determining rights to vote with respect to any dissolution
or liquidation, provided that such information shall be made known to the public prior to or in conjunction with such notice being
provided to such holder.

 

(h)          Definitions.

 

“Other
Securities” means (i) those options and warrants of the Company issued prior to, and outstanding on, the Original
Issue Date, (ii) the shares of Common Stock issuable on exercise of such options and warrants, provided such options and warrants
are not amended after the Original Issue Date, and (iii) the shares of Common Stock issued in connection with the Forward Split
and (iv) the shares of Common Stock issuable upon conversion of this Note.

 

(i)          Nothing
in this Section 6.01 shall be deemed to authorize the issuance of any securities by the Company in violation of Section 4.01

 

Article VII

 

Section 7.01         Notice.
Notices regarding this Note shall be sent to the parties at the following addresses, unless a party notifies the other parties,
in writing, of a change of address:

 

	If to the Company, to:	Max Cash Media, Inc.
	 	50 Brompton Road, Apt. 1X
	 	Great Neck, NY  11021
	 	Attention:  Noah Levinson, Chief Executive Officer
	 	Facsimile: 919.848.7771
	 	 
	With a copy to:	Gottbetter & Partners, LLP
	 	488 Madison Avenue, 12th Floor
	 	New York, New York 10022
	 	Attention:  Adam S. Gottbetter, Esq.
	 	Telephone:  212-400-6900
	 	Facsimile:  212-400-6901
	 	 
	If to the Holder:	At the address set forth in the Purchase Agreement

 

Section 7.02         Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by
and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts
of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of New York,
Borough of Manhattan (the “New York Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction
of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, or such New York Courts are improper or inconvenient venue for such proceeding. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy
thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect
for notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.
Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury
in any legal proceeding arising out of or relating to this Note or the transactions contemplated hereby. If either party shall
commence an action or proceeding to enforce any provisions of this Note, then the prevailing party in such action or proceeding
shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding.

 

    	11

    	 

    

 

Section 7.03         Severability.
The invalidity of any of the provisions of this Note shall not invalidate or otherwise affect any of the other provisions of this
Note, which shall remain in full force and effect.

 

Section 7.04         Entire
Agreement and Amendments. This Note, together with the Purchase Agreement, represents the entire agreement between the parties
hereto with respect to the subject matter hereof and there are no representations, warranties or commitments, except as set forth
herein. This Note may be amended only by an instrument in writing executed by the parties hereto.

 

[Remainder of Page Intentionally Left
Blank]

  

    	12

    	 

    

  

IN WITNESS WHEREOF,
with the intent to be legally bound hereby, the Company as executed this 10% Secured Convertible Promissory Note as of the date
first written above.

  

	 	Max Cash Media, Inc.
	 	 
	 	By:	 
	 	 	Name:	Noah Levinson
	 	 	Title:	President

 

[SIGNATURE PAGE TO SECURED CONVERTIBLE PROMISSORY
NOTE]SPLIT-OFF AGREEMENT

 

This SPLIT-OFF AGREEMENT,
dated as of July 12, 2012 (this “Agreement”), is entered into by and among BOLDFACE Group, Inc., a Nevada corporation
(“Seller”), BOLDFACE Split Corp., a Nevada corporation (“Split-Off Subsidiary”), and Noah Levinson (“Buyer”).

 

RECITALS:

 

WHEREAS,
Seller is the owner of all of the issued and outstanding capital stock of Split-Off Subsidiary; Split-Off Subsidiary is a wholly-owned
subsidiary of Seller which will acquire the business assets and liabilities previously held by Seller; and Seller has no other
businesses or operations prior to the Merger (as defined herein);

 

WHEREAS, immediately
following the consummation of the transactions contemplated pursuant to this Agreement, Seller, BOLDFACE Licensing + Branding,
a Nevada corporation (“BLB”), and a newly-formed wholly-owned Nevada subsidiary of Seller, Boldface Acquisition Corp.
(“Acquisition Subsidiary”), will consummate the transactions contemplated pursuant to an Agreement and Plan of Merger
and Reorganization (the “Merger Agreement”) pursuant to which Acquisition Subsidiary will merge with and into BLB with
BLB remaining as the surviving entity (the “Merger”); and the equity holders of BLB will receive securities of Seller
in exchange for their equity interests in BLB;

 

WHEREAS, the
execution and delivery of this Agreement is required by BLB as a condition to its execution of the Merger Agreement and the consummation
of the assignment, assumption, purchase and sale transactions contemplated by this Agreement is also a condition to the completion
of the Merger pursuant to the Merger Agreement, and Seller has represented to BLB in the Merger Agreement that the transactions
contemplated by this Agreement will be consummated prior to the closing of the Merger, and BLB relied on such representation in
entering into the Merger Agreement;

 

WHEREAS, Buyer
desires to purchase the Shares (as defined in Section 2.1) from Seller, and to assume, as between Seller and Buyer, all
responsibility for any debts, obligations and liabilities of Seller and Split-Off Subsidiary, on the terms and subject to the
conditions specified in this Agreement; and

 

WHEREAS, Seller
desires to sell and transfer the Shares to Buyer, on the terms and subject to the conditions specified in this Agreement;

 

NOW, THEREFORE,
in consideration of the premises and the covenants, promises and agreements herein set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending legally to be bound, agree as follows:

 

    	 

    	 

    

 

I.           ASSIGNMENT
AND ASSUMPTION OF SELLER’S ASSETS AND LIABILITIES.

 

Subject to the
terms and conditions provided below:

 

1.1           Assignment
of Assets. Seller hereby contributes, assigns, conveys and transfers to Split-Off Subsidiary, and Split-Off Subsidiary
hereby receives, acquires and accepts, all assets and properties of Seller existing immediately prior to the Closing, including
but not limited to the following:

 

		(a)	all pre-Merger cash and cash equivalents;

 

		(b)	all pre-Merger accounts receivable;

 

		(c)	all pre-Merger inventories of raw materials, work in process, parts, supplies and finished products;

 

		(d)	all of Seller’s pre-Merger rights, title and interests in, to and under all contracts, agreements,
leases, licenses (including software licenses), supply agreements, consulting agreements, commitments, purchase orders, customer
orders and work orders, and including all of Seller’s rights thereunder to use and possess equipment provided by third parties,
and all representations, warranties, covenants and guarantees related to the foregoing (provided that to the extent any of the
foregoing or any claim or right or benefit arising thereunder or resulting therefrom is not assignable by its terms, or the assignment
thereof shall require the consent or approval of another party thereto, this Agreement shall not constitute an assignment thereof
if an attempted assignment would be in violation of the terms thereof or if such consent is not obtained prior to the Closing,
and in lieu thereof Seller shall reasonably cooperate with Split-Off Subsidiary in any reasonable arrangement designed to provide
Split-Off Subsidiary the benefits thereunder or any claim or right arising thereunder);

 

		(e)	all pre-Merger intellectual property, including but not limited to issued patents, patent applications
(whether or not patents are issued thereon and whether modified, withdrawn or resubmitted), unpatented inventions, product designs,
copyrights (whether registered or unregistered), know-how, technology, trade secrets, technical information, notebooks, drawings,
software, computer coding (both object and source) and all documentation, manuals and drawings related thereto, trademarks or service
marks and applications therefor, unregistered trademarks or service marks, trade names, logos and icons and all rights to sue or
recover for the infringement or misappropriation thereof;

 

		(f)	all pre-Merger fixed assets, including but not limited to the machinery, equipment, furniture,
vehicles, office equipment and other tangible personal property owned or leased by Seller;

 

    	2

    	 

    

 

		(g)	all pre-Merger customer lists, business records, customer records and files, customer financial
records, and all other files and information related to customers, all customer proposals, all open service agreements with customers
and all uncompleted customer contracts and agreements;

 

		(h)	to the extent legally assignable, all pre-Merger licenses, permits, certificates, approvals and
authorizations issued by Governmental Entities and necessary to own, lease or operate the assets and properties of Seller and to
conduct Seller’s business as it is presently conducted; and

 

		(i)	all pre-Merger real property or interests therein.

 

all of the foregoing
being referred to herein as the “Assigned Assets.”

 

1.2           Assignment
and Assumption of Liabilities. Seller hereby assigns to Split-Off Subsidiary, and Split-Off Subsidiary hereby assumes
and agrees to pay, honor and discharge all debts, adverse claims, liabilities, judgments and obligations of Seller existing as
of the Closing, whether accrued, contingent or otherwise and whether known or unknown, including those arising under any law (including
the common law) or any rule or regulation of any Governmental Entity or imposed by any court or any arbitrator in a binding arbitration
resulting from, arising out of or relating to the assets, activities, financings, offerings, operations, actions or omissions of
Seller, or products manufactured or sold thereby or services provided thereby, or under contracts, agreements (whether written
or oral), leases, commitments or undertakings thereof, but excluding in all cases the obligations of Seller under the Transaction
Documentation (all of the foregoing being referred to herein as the “Assigned Liabilities”).

 

The assignment and
assumption of Seller’s assets and liabilities provided for in this Article I  is referred to as the “Assignment.”

 

II.          PURCHASE
AND SALE OF STOCK.

 

2.1           Purchased
Shares. Subject to the terms and conditions provided below, Seller shall sell and transfer to Buyer and Buyer shall purchase
from Seller, on the Closing Date (as defined in Section 3.1), all of the issued and outstanding shares of capital stock
of Split-Off Subsidiary (the “Shares”).

 

2.2           Purchase
Price. The purchase price for the Shares shall be the transfer and delivery by Buyer to Seller of the type and number
of shares of common stock and other securities of Seller that Buyer owns (the “Purchase Price Securities”), as set
forth in Exhibit A attached hereto, deliverable as provided in Section 3.3.

 

III.        CLOSING.

 

3.1           Closing.
The closing of the transactions contemplated in this Agreement (the “Closing”) shall take place as soon as practicable
following the execution of this Agreement; provided, however, that the Closing must occur prior to the closing of the Merger.
The date on which the Closing occurs shall be referred to herein as the “Closing Date.”

 

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3.2           Transfer
of Shares. At the Closing, Seller shall deliver to Buyer certificates representing the Shares purchased by Buyer, duly
endorsed to Buyer or as directed by Buyer, which delivery shall vest Buyer with good and marketable title to such Shares, free
and clear of all liens, encumbrances and adverse claims or interests.

 

3.3           Payment
of Purchase Price. At the Closing, Buyer shall deliver to Seller a certificate or certificates representing Buyer’s
Purchase Price Securities duly endorsed to Seller, together with a Stock Power with Signature Guaranteed, which delivery shall
vest Seller with good and marketable title to the Purchase Price Securities, free and clear of all liens, encumbrances and adverse
claims or interests.

 

3.4           Transfer
of Records. On or before the Closing, Seller shall transfer to Split-Off Subsidiary all existing corporate books and records
in Seller’s possession relating to Split-Off Subsidiary and its business, including but not limited to all agreements, litigation
files, real estate files, personnel files and filings with governmental agencies; provided, however, when any such
documents relate to both Seller and Split-Off Subsidiary, only copies of such documents need be furnished. On or before the Closing,
Buyer and Split-Off Subsidiary shall transfer to Seller all existing corporate books and records in the possession of Buyer or
Split-Off Subsidiary relating to Seller, including but not limited to all corporate minute books, stock ledgers, certificates and
corporate seals of Seller and all agreements, litigation files, real property files, personnel files and filings with governmental
agencies; provided, however, when any such documents relate to both Seller and Split-Off Subsidiary or its business,
only copies of such documents need be furnished.

 

3.5           Instruments
of Assignment. At the Closing, Seller and Split-Off Subsidiary shall deliver to each other such instruments providing for
the Assignment as the other may reasonably request (the “Instruments of Assignment”).

 

IV.        BUYER’S
REPRESENTATIONS AND WARRANTIES. Buyer represents and warrants that:

 

4.1           Capacity
and Enforceability. Buyer has the legal capacity to execute and deliver this Agreement and the documents to be executed
and delivered by Buyer at the Closing pursuant to the transactions contemplated hereby. This Agreement and all such documents constitute
valid and binding agreements of Buyer, enforceable in accordance with their terms.

 

4.2           Compliance.
Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby by Buyer will
result in the breach of any term or provision of, or constitute a default under, or violate any agreement, indenture, instrument,
order, law or regulation to which Buyer is a party or by which Buyer is bound.

 

    	4

    	 

    

 

4.3           Purchase
for Investment. Buyer is financially able to bear the economic risks of acquiring the Shares and the other transactions
contemplated hereby, and has no need for liquidity in their investment in the Shares. Buyer has such knowledge and experience in
financial and business matters in general, and with respect to businesses of a nature similar to the business of Split-Off Subsidiary
(after giving effect to the Assignment), so as to be capable of evaluating the merits and risks of, and making an informed business
decision with regard to, the acquisition of the Shares and the other transactions contemplated hereby. Buyer is an “accredited
investor” within the meaning of Rule 501 of Regulation D under the Securities Act. Buyer is acquiring the Shares solely for
his own account and not with a view to or for resale in connection with any distribution or public offering thereof, within the
meaning of any applicable securities laws and regulations, unless such distribution or offering is registered under the Securities
Act of 1933, as amended (the “Securities Act”), or an exemption from such registration is available. Buyer has (i) received
all the information he has deemed necessary to make an informed decision with respect to the acquisition of the Shares and the
other transactions contemplated hereby; (ii) had an opportunity to make such investigation as they have desired pertaining
to Split-Off Subsidiary (after giving effect to the Assignment) and the acquisition of an interest therein and the other transactions
contemplated hereby, and to verify the information which is, and has been, made available to him; and (iii) had the opportunity
to ask questions of Seller concerning Split-Off Subsidiary (after giving effect to the Assignment). Buyer acknowledges that due
to their affiliation with Seller and Split-Off Subsidiary that they have actual knowledge of the business, operations and financial
affairs of Split-Off Subsidiary (after giving effect to the Assignment). Buyer has received no public solicitation or advertisement
with respect to the offer or sale of the Shares. Buyer realizes that the Shares are “restricted securities” as that
term is defined in Rule 144 promulgated by the Securities and Exchange Commission under the Securities Act, the resale of the Shares
is restricted by federal and state securities laws and, accordingly, the Shares must be held indefinitely unless their resale is
subsequently registered under the Securities Act or an exemption from such registration is available for their resale. Buyer understands
that any resale of the Shares by him must be registered under the Securities Act (and any applicable state securities law) or be
effected in circumstances that, in the opinion of counsel for Split-Off Subsidiary at the time, create an exemption or otherwise
do not require registration under the Securities Act (or applicable state securities laws). Buyer acknowledges and consents that
certificates now or hereafter issued for the Shares will bear a legend substantially as follows:

 

THE SECURITIES EVIDENCED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR QUALIFIED
UNDER ANY APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”), HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND QUALIFICATION
UNDER THE STATE ACTS OR PURSUANT TO EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS (INCLUDING, IN THE CASE OF
THE SECURITIES ACT, THE EXEMPTIONS AFFORDED BY SECTION 4(1) OF THE SECURITIES ACT AND RULE 144 THEREUNDER). AS A PRECONDITION TO
ANY SUCH TRANSFER, THE ISSUER OF THESE SECURITIES SHALL BE FURNISHED WITH AN OPINION OF COUNSEL OPINING AS TO THE AVAILABILITY
OF EXEMPTIONS FROM SUCH REGISTRATION AND QUALIFICATION AND/OR SUCH OTHER EVIDENCE AS MAY BE SATISFACTORY THERETO THAT ANY SUCH
TRANSFER WILL NOT VIOLATE THE SECURITIES LAWS.

 

    	5

    	 

    

 

Buyer understands that
the Shares are being sold to him pursuant to the exemption from registration contained in Section 4(1) of the Securities Act and
that Seller is relying upon the representations made herein as one of the bases for claiming the Section 4(1) exemption.

 

4.4           Liabilities.
Following the Closing, Seller will have no liability for any debts, liabilities or obligations of Split-Off Subsidiary or its business
or activities, and there are no outstanding guaranties, performance or payment bonds, letters of credit or other contingent contractual
obligations that have been undertaken by Seller directly or indirectly in relation to Split-Off Subsidiary or its business and
that may survive the Closing.

 

4.5           Title
to Purchase Price Securities. Buyer is the sole record and beneficial owner of the Purchase Price Securities. At Closing,
Buyer will have good and marketable title to the Purchase Price Securities, which Purchase Price Securities are, and at the Closing
will be, free and clear of all options, warrants, pledges, claims, interests, liens and encumbrances, and any restrictions or limitations
prohibiting or restricting transfer to Seller, except for restrictions on transfer as contemplated by applicable securities laws.

 

V.         SELLER’S
AND SUBSIDIARY’S REPRESENTATIONS AND WARRANTIES. Seller and Split-Off Subsidiary, jointly and severally, represent
and warrant to Buyer that:

 

5.1           Organization
and Good Standing. Each of Seller and Split-Off Subsidiary is a corporation duly incorporated, validly existing, and in
good standing under the laws of their respective states of incorporation.

 

5.2           Authority
and Enforceability. The execution and delivery of this Agreement and the documents to be executed and delivered at the
Closing pursuant to the transactions contemplated hereby, and performance in accordance with the terms hereof and thereof, have
been duly authorized by Seller and all such documents constitute valid and binding agreements of Seller enforceable in accordance
with their terms.

 

5.3           Title
to Shares. Seller is the sole record and beneficial owner of the Shares. At Closing, Seller will have good and marketable
title to the Shares, which Shares are, and at the Closing will be, free and clear of all options, warrants, pledges, claims, liens
and encumbrances, and any restrictions or limitations prohibiting or restricting transfer to Buyer, except for restrictions on
transfer as contemplated by Section 4.3 above. The Shares constitute all of the issued and outstanding shares of capital
stock of Split-Off Subsidiary.

 

5.4           WARN
Act. Split-Off Subsidiary does not have a sufficient number of employees to make it subject to the Worker Adjustment and
Retraining Notification Act.

 

5.5           Representations
in Merger Agreement. Split-Off Subsidiary represents and warrants that all of the representations and warranties by Seller,
insofar as they relate to Split-Off Subsidiary, contained in the Merger Agreement are true and correct.

 

    	6

    	 

    

 

VI.        OBLIGATIONS
OF BUYER PENDING CLOSING. Buyer covenants and agrees that between the date hereof and the Closing:

 

6.1           Not
Impair Performance. Buyer shall not take any intentional action that would cause the conditions upon the obligations of
the parties hereto to effect the transactions contemplated hereby not to be fulfilled, including, without limitation, taking or
causing to be taken any action that would cause the representations and warranties made by any party herein not to be true, correct
and accurate as of the Closing, or in any way impairing the ability of Seller to satisfy its obligations as provided in Article
VII.

 

6.2           Assist
Performance. Buyer shall exercise his reasonable best efforts to cause to be fulfilled those conditions precedent to Seller’s
obligations to consummate the transactions contemplated hereby which are dependent upon actions of Buyer and to make and/or obtain
any necessary filings and consents in order to consummate the sale transaction contemplated by this Agreement.

 

6.3           Business
as Usual. Buyer shall not take or omit to take any action that results in Seller incurring any liability or obligation
prior to or in connection with the Closing.

 

VII.       OBLIGATIONS
OF SELLER PENDING CLOSING. Seller covenants and agrees that between the date hereof and the Closing:

 

7.1           Business
as Usual. Split-Off Subsidiary shall operate and Seller shall cause Split-Off Subsidiary to operate in accordance with
past practices and shall use best efforts to preserve its goodwill and the goodwill of its employees, customers and others having
business dealings with Split-Off Subsidiary. Without limiting the generality of the foregoing, from the date of this Agreement
until the Closing Date, Split-Off Subsidiary shall preserve and maintain Split-Off Subsidiary’s assets in their current operating
condition and repair, ordinary wear and tear excepted. From the date of this Agreement until the Closing Date, Split-Off Subsidiary
shall not (i) amend, terminate or surrender any material franchise, license, contract or real property interest, or (ii) sell
or dispose of any of its assets except in the ordinary course of business.

 

7.2           Not
Impair Performance. Seller shall not take any intentional action that would cause the conditions upon the obligations of
the parties hereto to effect the transactions contemplated hereby not to be fulfilled, including, without limitation, taking or
causing to be taken any action which would cause the representations and warranties made by any party herein not to be materially
true, correct and accurate as of the Closing, or in any way impairing the ability of Buyer to satisfy her obligations as provided
in Article VI.

 

7.3           Assist
Performance. Seller shall exercise its reasonable best efforts to cause to be fulfilled those conditions precedent to Buyer’s
obligations to consummate the transactions contemplated hereby which are dependent upon the actions of Seller and to work with
Buyer to make and/or obtain any necessary filings and consents. Seller shall cause Split-Off Subsidiary to comply with its obligations
under this Agreement.

 

    	7

    	 

    

 

VIII.       SELLER’S
AND SPLIT-OFF SUBSIDIARY’S CONDITIONS PRECEDENT TO CLOSING. The obligations of Seller and Split-Off Subsidiary to
close the transactions contemplated by this Agreement are subject to the satisfaction at or prior to the Closing of each of the
following conditions precedent (any or all of which may be waived by Seller and BLB in writing):

 

8.1           Representations
and Warranties; Performance. All representations and warranties of Buyer contained in this Agreement shall have been true
and correct, in all material respects, when made and shall be true and correct, in all material respects, at and as of the Closing,
with the same effect as though such representations and warranties were made at and as of the Closing. Buyer shall have performed
and complied with all covenants and agreements and satisfied all conditions, in all material respects, required by this Agreement
to be performed or complied with or satisfied by Buyer at or prior to the Closing.

 

8.2           Additional
Documents. Buyer shall deliver or cause to be delivered such additional documents as may be necessary in connection with
the consummation of the transactions contemplated by this Agreement and the performance of their obligations hereunder.

 

8.3           Release
by Split-Off Subsidiary. At the Closing, Split-Off Subsidiary shall execute and deliver to Seller a general release which
in substance and effect releases Seller and BLB from any and all liabilities and obligations that Seller and BLB may owe to Split-Off
Subsidiary in any capacity, and from any and all claims that Split-Off Subsidiary may have against Seller, BLB or their respective
managers, members, officers, directors, stockholders, employees and agents (other than those arising pursuant to this Agreement
or any document delivered in connection with this Agreement).

 

IX.        BUYER’S
CONDITIONS PRECEDENT TO CLOSING. The obligation of Buyer to close the transactions contemplated by this Agreement is subject
to the satisfaction at or prior to the Closing of each of the following conditions precedent (any and all of which may be waived
by Buyer in writing):

 

9.1           Representations
and Warranties; Performance. All representations and warranties of Seller and Split-Off Subsidiary contained in this Agreement
shall have been true and correct, in all material respects, when made and shall be true and correct, in all material respects,
at and as of the Closing with the same effect as though such representations and warranties were made at and as of the Closing.
Seller and Split-Off Subsidiary shall have performed and complied with all covenants and agreements and satisfied all conditions,
in all material respects, required by this Agreement to be performed or complied with or satisfied by them at or prior to the Closing.

 

X.         OTHER
AGREEMENTS.

 

10.1         Expenses.
Each party hereto shall bear its expenses separately incurred in connection with this Agreement and with the performance of its
obligations hereunder.

 

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10.2         Confidentiality.
Buyer shall not make any public announcements concerning this transaction without the prior written agreement of BLB, other than
as may be required by applicable law or judicial process. If for any reason the transactions contemplated hereby are not consummated,
then Buyer shall return any information received by Buyer from Seller or Split-Off Subsidiary, and Buyer shall cause all confidential
information obtained by Buyer concerning Split-Off Subsidiary and its business to be treated as such.

 

10.3         Brokers’
Fees. In connection with the transaction specifically contemplated by this Agreement, no party to this Agreement has employed
the services of a broker and each agrees to indemnify the other against all claims of any third parties for fees and commissions
of any brokers claiming a fee or commission related to the transactions contemplated hereby.

 

10.4         Access
to Information Post-Closing; Cooperation.

 

(a)          Following
the Closing, Buyer and Split-Off Subsidiary shall afford to Seller and its authorized accountants, counsel and other
designated representatives, reasonable access (and including using reasonable efforts to give access to persons or firms
possessing information) and duplicating rights during normal business hours to allow records, books, contracts, instruments,
computer data and other data and information (collectively, “Information”) within the possession or control of
Buyer or Split-Off Subsidiary insofar as such access is reasonably required by Seller. Information may be requested under
this Section 10.4(a) for, without limitation, audit, accounting, claims, litigation and tax purposes, as well as for
purposes of fulfilling disclosure and reporting obligations and performing this Agreement and the transactions contemplated
hereby. No files, books or records of Split-Off Subsidiary existing at the Closing Date shall be destroyed by Buyer or
Split-Off Subsidiary after Closing but prior to the expiration of any period during which such files, books or records are
required to be maintained and preserved by applicable law without giving Seller at least 30 days’ prior written notice,
during which time Seller shall have the right to examine and to remove any such files, books and records prior to their
destruction.

 

(b)          Following
the Closing, Seller shall afford to Split-Off Subsidiary and its authorized accountants, counsel and other designated
representatives reasonable access (including using reasonable efforts to give access to persons or firms possessing
information) duplicating rights during normal business hours to Information within Seller’s possession or control
relating to the business of Split-Off Subsidiary. Information may be requested under this Section 10.4(b) for, without
limitation, audit, accounting, claims, litigation and tax purposes as well as for purposes of fulfilling disclosure and
reporting obligations and for performing this Agreement and the transactions contemplated hereby. No files, books or records
of Split-Off Subsidiary existing at the Closing Date shall be destroyed by Seller after Closing but prior to the expiration
of any period during which such files, books or records are required to be maintained and preserved by applicable law without
giving Buyer at least 30 days prior written notice, during which time Buyer shall have the right to examine and to remove any
such files, books and records prior to their destruction.

 

    	9

    	 

    

 

(c)          At
all times following the Closing, Seller, Buyer and Split-Off Subsidiary shall use their reasonable efforts to make available to
the other party on written request, the current and former officers, directors, employees and agents of Seller or Split-Off Subsidiary
for any of the purposes set forth in Section 10.4(a) or (b) above or as witnesses to the extent that such persons may reasonably
be required in connection with any legal, administrative or other proceedings in which Seller or Split-Off Subsidiary may from
time to be involved.

 

(d)          The
party to whom any Information or witnesses are provided under this Section 10.4 shall reimburse the provider thereof
for all out-of-pocket expenses actually and reasonably incurred in providing such Information or witnesses.

 

(e)          Seller,
Buyer, Split-Off Subsidiary and their respective employees and agents shall each hold in strict confidence all Information concerning
the other party in their possession or furnished by the other or the other’s representative pursuant to this Agreement with
the same degree of care as such party utilizes as to such party’s own confidential information (except to the extent that
such Information is (i) in the public domain through no fault of such party or (ii) later lawfully acquired from any
other source by such party), and each party shall not release or disclose such Information to any other person, except such party’s
auditors, attorneys, financial advisors, bankers, other consultants and advisors or persons with whom such party has a valid obligation
to disclose such Information, unless compelled to disclose such Information by judicial or administrative process or, as advised
by its counsel, by other requirements of law.

 

(f)          Seller,
Buyer and Split-Off Subsidiary shall each use their best efforts to forward promptly to the other party all notices, claims, correspondence
and other materials which are received and determined to pertain to the other party.

 

10.5         Guarantees,
Surety Bonds and Letter of Credit Obligations. In the event that Seller is obligated for any debts, obligations or liabilities
of Split-Off Subsidiary by virtue of any outstanding guarantee, performance or surety bond or letter of credit provided or arranged
by Seller on or prior to the Closing Date, Buyer and Split-Off Subsidiary shall use their best efforts to cause to be issued replacements
of such bonds, letters of credit and guarantees and to obtain any amendments, novations, releases and approvals necessary to release
and discharge fully Seller from any liability thereunder following the Closing. Buyer and Split-Off Subsidiary, jointly and severally,
shall be responsible for, and shall indemnify, hold harmless and defend Seller from and against, any costs or losses incurred by
Seller arising from such bonds, letters of credits and guarantees and any liabilities arising therefrom and shall reimburse Seller
for any payments that Seller may be required to pay pursuant to enforcement of its obligations relating to such bonds, letters
of credit and guarantees.

 

10.6         Filings
and Consents. Buyer, at his risk, shall determine what, if any, filings and consents must be made and/or obtained prior
to Closing to consummate the purchase and sale of the Shares. Buyer shall indemnify the Seller Indemnified Parties (as defined
in Section 12.1 below) against any Losses (as defined in Section 12.1 below) incurred by such Seller Indemnified
Parties by virtue of the failure to make and/or obtain any such filings or consents. Recognizing that the failure to make and/or
obtain any filings or consents may cause Seller to incur Losses or otherwise adversely affect Seller, Buyer and Split-Off Subsidiary
confirm that the provisions of this Section 10.6 will not limit Seller’s right to treat such failure as the failure
of a condition precedent to Seller’s obligation to close pursuant to Article VIII above.

 

    	10

    	 

    

 

10.7         Insurance.
Buyer acknowledges that on the Closing Date, effective as of the Closing, any insurance coverage and bonds provided by Seller for
Split-Off Subsidiary, and all certificates of insurance evidencing that Split-Off Subsidiary maintains any required insurance by
virtue of insurance provided by Seller, will terminate with respect to any insured damages resulting from matters occurring subsequent
to Closing.

 

10.8         Agreements
Regarding Taxes.

 

(a)          Tax
Sharing Agreements. Any tax sharing agreement between Seller and Split-Off Subsidiary is terminated as of the Closing Date
and will have no further effect for any taxable year (whether the current year, a future year or a past year).

 

(b)          Returns
for Periods Through the Closing Date. Seller will include the income and loss of Split-Off Subsidiary (including any deferred
income triggered into income by Reg. §1.1502-13 and any excess loss accounts taken into income under Reg. §1.1502-19)
on Seller’s consolidated federal income tax returns for all periods through the Closing Date and pay any federal income taxes
attributable to such income. Seller and Split-Off Subsidiary agree to allocate income, gain, loss, deductions and credits between
the period up to Closing (the “Pre-Closing Period”) and the period after Closing (the “Post-Closing Period”)
based on a closing of the books of Split-Off Subsidiary, and both Seller and Split-Off Subsidiary agree not to make an election
under Reg. §1.1502-76(b)(2)(ii) to ratably allocate the year’s items of income, gain, loss, deduction and credit. Seller,
Split-Off Subsidiary and Buyer agrees to report all transactions not in the ordinary course of business occurring on the Closing
Date after Buyer’s purchase of the Shares on Split-Off Subsidiary’s tax returns to the extent permitted by Reg. §1.1502-76(b)(1)(ii)(B).
Buyer agrees to indemnify Seller for any additional tax owed by Seller (including tax owned by Seller due to this indemnification
payment) resulting from any transaction engaged in by Split-Off Subsidiary during the Pre-Closing Period or on the Closing Date
after Buyer’s purchase of the Shares. Split-Off Subsidiary will furnish tax information to Seller for inclusion in Seller’s
consolidated federal income tax return for the period which includes the Closing Date in accordance with Split-Off Subsidiary’s
past custom and practice.

 

    	11

    	 

    

 

(c)          Audits.
Seller will allow Split-Off Subsidiary and its counsel to participate at Split-Off Subsidiary’s expense in any audits of
Seller’s consolidated federal income tax returns to the extent that such audit raises issues that relate to and increase
the tax liability of Split-Off Subsidiary. Seller shall have the absolute right, in its sole discretion, to engage professionals
and direct the representation of Seller in connection with any such audit and the resolution thereof, without receiving the consent
of Buyer or Split-Off Subsidiary or any other party acting on behalf of Buyer or Split-Off Subsidiary, provided that Seller will
not settle any such audit in a manner which would materially adversely affect Split-Off Subsidiary after the Closing Date unless
such settlement would be reasonable in the case of a person that owned Split-Off Subsidiary both before and after the Closing
Date, or unless the Split-Off Subsidiary consents, such consent not to be unreasonably withheld. In the event that after Closing
any tax authority informs Buyer or Split-Off Subsidiary of any notice of proposed audit, claim, assessment or other dispute concerning
an amount of taxes which pertain to Seller, or to Split-Off Subsidiary during the period prior to Closing, Buyer or Split-Off
Subsidiary must promptly notify Seller of the same within 15 calendar days of the date of the notice from the tax authority. In
the event Buyer or Split-Off Subsidiary does not notify Seller within such 15 day period, Buyer and Split-Off Subsidiary, jointly
and severally, will indemnify Seller for any incremental interest, penalty or other assessments resulting from the delay in giving
notice. To the extent of any conflict or inconsistency, the provisions of this Section 10.8 shall control over the provisions
of Section 12.2 below.

 

(d)          Cooperation
on Tax Matters. Buyer, Seller and Split-Off Subsidiary shall cooperate fully, as and to the extent reasonably requested
by any party, in connection with the filing of tax returns pursuant to this Section and any audit, litigation or other proceeding
with respect to taxes. Such cooperation shall include the retention and (upon the other party’s request) the provision of
records and information which are reasonably relevant to any such audit, litigation or other proceeding and making employees available
on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. Split-Off
Subsidiary shall (i) retain all books and records with respect to tax matters pertinent to Split-Off Subsidiary relating to
any taxable period beginning before the Closing Date until the expiration of the statute of limitations (and, to the extent notified
by Seller, any extensions thereof) of the respective taxable periods, and to abide by all record retention agreements entered into
with any taxing authority, and (ii) give Seller reasonable written notice prior to transferring, destroying or discarding
any such books and records and, if Seller so requests, Buyer agrees to cause Split-Off Subsidiary to allow Seller to take possession
of such books and records.

 

10.9         ERISA.
Effective as of the Closing Date, Split-Off Subsidiary shall terminate its participation in, and withdraw from, any employee benefit
plans sponsored by Seller, and Seller and Buyer shall cooperate fully in such termination and withdrawal. Without limitation, Split-Off
Subsidiary shall be solely responsible for (i) all liabilities under those employee benefit plans notwithstanding any status
as an employee benefit plan sponsored by Seller, and (ii) all liabilities for the payment of vacation pay, severance benefits,
and similar obligations, including, without limitation, amounts which are accrued but unpaid as of the Closing Date with respect
thereto. Buyer and Split-Off Subsidiary acknowledge that Split-Off Subsidiary is solely responsible for providing continuation
health coverage, as required under the Consolidated Omnibus Reconciliation Act of 1985, as amended (“COBRA”), to each
person, if any, participating in an employee benefit plan subject to COBRA with respect to such employee benefit plan as of the
Closing Date, including, without limitation, any person whose employment with Split-Off Subsidiary is terminated after the Closing
Date.

 

    	12

    	 

    

 

XI.        TERMINATION.
This Agreement may be terminated at, or at any time prior to, the Closing by mutual written consent of Seller, Buyer and BLB.

 

If this Agreement is
terminated as provided herein, it shall become wholly void and of no further force and effect and there shall be no further liability
or obligation on the part of any party except to pay such expenses as are required of such party.

 

XII.       INDEMNIFICATION.

 

12.1         Indemnification
by Buyer. Buyer covenants and agrees to indemnify, defend, protect and hold harmless Seller and BLB, and their respective
officers, directors, employees, stockholders, agents, representatives and Affiliates (collectively, the “Seller Indemnified
Parties”) at all times from and after the date of this Agreement from and against all losses, liabilities, damages, claims,
actions, suits, proceedings, demands, assessments, adjustments, costs and expenses (including specifically, but without limitation,
reasonable attorneys’ fees and expenses of investigation), whether or not involving a third party claim and regardless of
any negligence of any Seller Indemnified Party (collectively, “Losses”), incurred by any Seller Indemnified Party as
a result of or arising from (i) any breach of the representations and warranties of Buyer set forth herein or in certificates
delivered in connection herewith, (ii) any breach or nonfulfillment of any covenant or agreement (including any other agreement
of Buyer to indemnify set forth in this Agreement) on the part of Buyer under this Agreement, (iii) any Assigned Asset or
Assigned Liability or any other debt, liability or obligation of Split-Off Subsidiary, (iv) the conduct and operations, whether
before or after Closing, of (A) the business of Seller pertaining to the Assigned Assets and Assigned Liabilities or (B) the business
of Split-Off Subsidiary, (v) claims asserted, whether before or after Closing, (A) against Split-Off Subsidiary or (B) pertaining
to the Assigned Assets and Assigned Liabilities, or (vi) any federal or state income tax payable by Seller or BLB and attributable
to the transactions contemplated by this Agreement.

 

12.2         Third
Party Claims.

 

(a)          Defense.
If any claim or liability (a “Third-Party Claim”) should be asserted against any of the Seller Indemnified Parties
(the “Indemnitee”) by a third party after the Closing for which Buyer has an indemnification obligation under the
terms of Section 12.1, then the Indemnitee shall notify Buyer (the “Indemnitor”) within 20 days after the Third-Party
Claim is asserted by a third party (said notification being referred to as a “Claim Notice”) and give the Indemnitor
a reasonable opportunity to take part in any examination of the books and records of the Indemnitee relating to such Third-Party
Claim and to assume the defense of such Third-Party Claim in connection therewith and to conduct any proceedings or negotiations
relating thereto and necessary or appropriate to defend the Indemnitee and/or settle the Third-Party Claim. The expenses (including
reasonable attorneys’ fees) of all negotiations, proceedings, contests, lawsuits or settlements with respect to any Third-Party
Claim shall be borne by the Indemnitor. If the Indemnitor agrees to assume the defense of any Third-Party Claim in writing within
20 days after the Claim Notice of such Third-Party Claim has been delivered, through counsel reasonably satisfactory to Indemnitee,
then the Indemnitor shall be entitled to control the conduct of such defense, and any decision to settle such Third-Party Claim,
and shall be responsible for any expenses of the Indemnitee in connection with the defense of such Third-Party Claim so long as
the Indemnitor continues such defense until the final resolution of such Third-Party Claim. The Indemnitor shall be responsible
for paying all settlements made or judgments entered with respect to any Third-Party Claim the defense of which has been assumed
by the Indemnitor. Except as provided on subsection (b) below, both the Indemnitor and the Indemnitee must approve any settlement
of a Third-Party Claim. A failure by the Indemnitee to timely give the Claim Notice shall not excuse Indemnitor from any indemnification
liability except only to the extent that the Indemnitor is materially and adversely prejudiced by such failure.

 

    	13

    	 

    

 

(b)          Failure
to Defend. If the Indemnitor shall not agree to assume the defense of any Third-Party Claim in writing within 20 days after
the Claim Notice of such Third-Party Claim has been delivered, or shall fail to continue such defense until the final resolution
of such Third-Party Claim, then the Indemnitee may defend against such Third-Party Claim in such manner as it may deem appropriate
and the Indemnitee may settle such Third-Party Claim, in its sole discretion, on such terms as it may deem appropriate. The Indemnitor
shall promptly reimburse the Indemnitee for the amount of all settlement payments and expenses, legal and otherwise, incurred by
the Indemnitee in connection with the defense or settlement of such Third-Party Claim. If no settlement of such Third-Party Claim
is made, then the Indemnitor shall satisfy any judgment rendered with respect to such Third-Party Claim before the Indemnitee is
required to do so, and pay all expenses, legal or otherwise, incurred by the Indemnitee in the defense against such Third-Party
Claim.

 

12.3         Non-Third-Party
Claims. Upon discovery of any claim for which Buyer has an indemnification obligation under the terms of Section
12.1 which does not involve a claim by a third party against the Indemnitee, the Indemnitee shall give prompt notice to
Buyer of such claim and, in any case, shall give Buyer such notice within 30 days of such discovery. A failure by Indemnitee
to timely give the foregoing notice to Buyer shall not excuse Buyer from any indemnification liability except to the extent
that Buyer is materially and adversely prejudiced by such failure.

 

12.4         Survival.
Except as otherwise provided in this Section 12.4, all representations and warranties made by Buyer, Split-Off Subsidiary
and Seller in connection with this Agreement shall survive the Closing. Anything in this Agreement to the contrary notwithstanding,
the liability of the Indemnitor under this Article XII shall terminate on the third (3rd) anniversary of the
Closing Date, except with respect to (a) liability for any item as to which, prior to the third (3rd) anniversary
of the Closing Date, any Indemnitee shall have asserted a Claim in writing, which Claim shall identify its basis with reasonable
specificity, in which case the liability for such Claim shall continue until it shall have been finally settled, decided or adjudicated,
(b) liability of any party for Losses for which such party has an indemnification obligation, incurred as a result of such
party’s breach of any covenant or agreement to be performed by such party after the Closing, (c) liability of Buyer
for Losses incurred by a Seller Indemnified Party due to breaches of their representations and warranties in Article IV of
this Agreement, and (d) liability of Buyer for Losses arising out of Third-Party Claims for which Buyer has an indemnification
obligation, which liability shall survive until the statute of limitation applicable to any third party’s right to assert
a Third-Party Claim bars assertion of such claim.

 

    	14

    	 

    

 

XIII.      MISCELLANEOUS.

 

13.1         Definitions.
Capitalized terms used herein without definition have the meanings ascribed to them in the Merger Agreement.

 

13.2         Notices.
All notices and communications required or permitted hereunder shall be in writing and deemed given when received by means of the
United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested,
or personal delivery, or overnight courier, as follows:

 

(a)          If
to Seller, addressed to:

 

BOLDFACE Group,
Inc.

1309 Pico Blvd.

Suite #A

Santa Monica,
CA 90405

Attn:  Nicole
Ostoya

Facsimile:  310.421.9274

 

With a copy to (which
shall not constitute notice hereunder):

 

Gottbetter
& Partners, LLP

488 Madison
Avenue, 12th Floor

New York, NY
10022

Attn:  Scott
Rapfogel, Esq.

Facsimile:  212.400.6901

 

(b)          If
to Buyer or Split-Off Subsidiary, addressed to:

 

Noah Levinson

50 Brompton Road, Apt. 1X

Great Neck, NY 11021

Facsimile:  919.848.7771

 

With a copy to (which
shall not constitute notice hereunder):

 

Gottbetter
& Partners, LLP

488 Madison
Avenue, 12th Floor

New York, NY
10022

Attention:
Scott Rapfogel, Esq.

Facsimile:
212.400.6901

 

    	15

    	 

    

 

or to such other address as any party
hereto shall specify pursuant to this Section 13.2 from time to time.

 

13.3         Exercise
of Rights and Remedies. Except as otherwise provided herein, no delay of or omission in the exercise of any right, power
or remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such
right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar
breach or default occurring later; nor shall any waiver of any single breach or default be deemed a waiver of any other breach
or default occurring before or after that waiver.

 

13.4         Time.
Time is of the essence with respect to this Agreement.

 

13.5         Reformation
and Severability. In case any provision of this Agreement shall be invalid, illegal or unenforceable, it shall, to the
extent possible, be modified in such manner as to be valid, legal and enforceable but so as to most nearly retain the intent of
the parties, and if such modification is not possible, such provision shall be severed from this Agreement, and in either case
the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired
thereby.

 

13.6         Further
Acts and Assurances. From and after the Closing, Seller, Buyer and Split-Off Subsidiary agree that each will act in a manner
supporting compliance, including compliance by its Affiliates, with all of its obligations under this Agreement and, from time
to time, shall, at the request of another party hereto, and without further consideration, cause the execution and delivery of
such other instruments of conveyance, transfer, assignment or assumption and take such other action or execute such other documents
as such party may reasonably request in order more effectively to convey, transfer to and vest in Buyer, and to put Split-Off Subsidiary
in possession of, all Assigned Assets and Assigned Liabilities, and to convey, transfer to and vest in Seller and Buyer, and to
them in possession of, the Purchase Price Securities and the Shares (respectively), and, in the case of any contracts and rights
that cannot be effectively transferred without the consent or approval of other Persons that is unobtainable, to use its best reasonable
efforts to ensure that Split-Off Subsidiary receives the benefits thereof to the maximum extent permissible in accordance with
applicable law or other applicable restrictions, and shall perform such other acts which may be reasonably necessary to effectuate
the purposes of this Agreement.

 

13.7         Entire
Agreement; Amendments. This Agreement contains the entire understanding of the parties relating to the subject matter contained
herein. This Agreement cannot be amended or changed except through a written instrument signed by all of the parties hereto and
by BLB. No provisions of this Agreement or any rights hereunder may be waived by any party without the prior written consent of
BLB.

 

13.8         Assignment.
No party may assign his, her or its rights or obligations hereunder, in whole or in part, without the prior written consent of
the other parties.

 

    	16

    	 

    

 

13.9         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to principles of conflicts or choice of laws thereof.

 

13.10       Counterparts.
This Agreement may be executed in one or more counterparts, with the same effect as if all parties had signed the same document.
Each such counterpart shall be an original, but all such counterparts taken together shall constitute a single agreement. In the
event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of
the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile
signature page was an original thereof.

 

13.11       Section
Headings and Gender. The Section headings used herein are inserted for reference purposes only and shall not in any way
affect the meaning or interpretation of this Agreement. All personal pronouns used in this Agreement shall include the other genders,
whether used in the masculine, feminine or neuter, and the singular shall include the plural, and vice versa, whenever and
as often as may be appropriate.

 

13.12       Third-Party
Beneficiary. Each of Seller, Buyer and Split-Off Subsidiary acknowledges and agrees that this Agreement is entered into
for the express benefit of BLB, and that BLB is relying hereon and on the consummation of the transactions contemplated by this
Agreement in entering into and performing its obligations under the Merger Agreement, and that BLB shall be in all respects entitled
to the benefit hereof and to enforce this Agreement as a result of any breach hereof.

 

13.13       Specific
Performance; Remedies. Each of Seller, Buyer and Split-Off Subsidiary acknowledge and agree that BLB would be
damaged irreparably if any provision of this Agreement is not performed in accordance with its specific terms or is otherwise
breached. Accordingly, each of Seller, Buyer and Split-Off Subsidiary agrees that BLB will be entitled to seek an injunction
or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and its
terms and provisions in any action instituted in any court of the United States or any state thereof having jurisdiction over
the parties and the matter, subject to Section 13.9, in addition to any other remedy to which BLB be entitled, at law
or in equity. Except as expressly provided herein, the rights, obligations and remedies created by this Agreement are
cumulative and are in addition to any other rights, obligations or remedies otherwise available at law or in equity, and
nothing herein will be considered an election of remedies.

 

13.14       Submission
to Jurisdiction; Process Agent; No Jury Trial.

 

(a)          Each
party to the Agreement hereby submits to the jurisdiction of any state or federal court sitting in the State of New York in any
action arising out of or relating to this Agreement and agrees that all claims in respect of the action may be heard and determined
in any such court. Each party to the Agreement also agrees not to bring any action arising out of or relating to this Agreement
in any other court. Each party to the Agreement agrees that a final judgment in any action so brought will be conclusive and may
be enforced by action on the judgment or in any other manner provided at law or in equity. Each party to the Agreement waives any
defense of inconvenient forum to the maintenance of any action so brought and waives any bond, surety or other security that might
be required of any other party with respect thereto.

 

    	17

    	 

    

 

(b)          EACH
PARTY TO THIS AGREEMENT HEREBY AGREES TO WAIVE ITS RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT
OR ANY OTHER AGREEMENTS RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS
CONTEMPLATED HEREBY. The scope of this waiver is intended to be all encompassing of any and all actions that may be filed in any
court and that relate to the subject matter of the transactions, including contract claims, tort claims, breach of duty claims
and all other common law and statutory claims. Each party to the Agreement hereby acknowledges that this waiver is a material inducement
to enter into a business relationship and that they will continue to rely on the waiver in their related future dealings. Each
party to the Agreement further represents and warrants that it has reviewed this waiver with its legal counsel, and that each knowingly
and voluntarily waives its jury trial rights following consultation with legal counsel. NOTWITHSTANDING ANYTHING TO THE CONTRARY
HEREIN, THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED ORALLY OR IN WRITING, AND THE WAIVER WILL APPLY TO ANY
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING HERETO. In
the event of commencement of any action, this Agreement may be filed as a written consent to trial by a court.

 

13.15       Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party because of the authorship of any provision of this Agreement. Any
reference to any federal, state, local or foreign law will be deemed also to refer to law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” The words “this Agreement,” “herein,”
“hereof,” “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole
and not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty
and covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty
or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to
the same subject matter (regardless of the relative levels of specificity) which that party has not breached will not detract from
or mitigate the fact that such party is in breach of the first representation, warranty or covenant.

 

[Signature page follows this page.]

 

    	18

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have duly executed this Split-Off Agreement as of the day and year first above written.

 

	 	BOLDFACE GROUP, INC.
	 	 
	 	By:	/s/ Noah Levinson
	 	Name: Noah Levinson
	 	Title: President
	 	 
	 	BOLDFACE SPLIT CORP.
	 	 	 
	 	By:	/s/ Noah Levinson
	 	Name: Noah Levinson
	 	Title: President
	 	 
	 	BUYER
	 	 
	 	/s/ Noah Levinson
	 	Noah Levinson

 

    	 

    	 

    

 

EXHIBIT A

 

	Buyer	 	Purchase Price Security	 	Number
	 	 	 	 	 
	Noah Levinson	 	Common Stock	 	25,547,445

 

* Reflects the
37.95621-for-1 forward stock split of the common stock of Seller, in the form of a dividend, paid on May 30, 2012.

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