Document:

Exhibit 10.01

 

DEBT CONVERSION AGREEMENT

 

THIS DEBT CONVERSION AGREEMENT (this “Agreement”)
is made and entered into as of April __, 2103 by and between Stratus Media Group, Inc., a Nevada corporation (the “Company”),
and _____________ (“Purchaser”).

 

RECITALS

 

A.Purchaser holds a promissory note
in the original principal amount of $___________ dated __________________ (the “Note”).

 

B.The Company is in the process of attempting
a recapitalization (the “Recapitalization”) pursuant to which the Company desires to (i) raise capital
to restart certain of its operations; (ii) restructure certain of its equity; and (c) extinguish a significant portion
of its debt, although no assurance can be given that the Recapitalization will be successful in whole or in part.

 

C.On the terms and subject to the conditions
of this Agreement, Purchaser desires to convert the Note for shares of the Common Stock of the Company at a price of $0.06 per
share.

 

NOW, THEREFORE, with reference to the foregoing
facts, the Company and the Purchaser agree as follows:

 

AGREEMENT

 

1.Conversion
of Note. The Company hereby issues to Purchaser ___ shares (the “Shares”) of Common Stock of the Company,
and the Purchaser hereby converts the Note into the Shares. The number of Shares has been determined based upon dividing the outstanding
balance of the Note (principal of $_________ plus accrued and unpaid interest of $____as of the date hereof) by $____ and rounding
to the nearest whole Share. Purchaser has concurrently herewith delivered the original Note to the Company. The Company agrees
to instruct its transfer agent to issue the Shares to Purchaser promptly after the date hereof.

 

2.Representations
and Warranties of the Purchaser. Purchaser hereby represents and warrants to, and agrees with, the Company as follows:

 

2.1Purchaser
understands that: (a) the Shares are not registered under the Securities Act of 1933, as amended (the “Securities Act”),
or any state securities laws; (b) the issuance and sale of the Shares is intended to be exempt from registration under the Securities
Act, by virtue of Section 4(2) thereof and the provisions of Regulation D promulgated thereunder, based, in part, upon
the representations, warranties and agreements of the Purchaser contained in this Agreement.

 

2.2Purchaser
has had a reasonable opportunity to ask questions of and receive answers from a person or persons acting on behalf of the Company
concerning the offering of the Shares and the business, financial condition, results of operations and prospects of the Company
and all such questions have been answered to the full satisfaction of the Purchaser.

 

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2.3Purchaser
has such knowledge and experience in financial, tax, and business matters, and, in particular, investments in securities, so as
to enable Purchaser to utilize the information made available to Purchaser in connection with the offering of the Shares to evaluate
the merits and risks of an investment in the Shares and to make an informed investment decision with respect thereto.

 

2.4Purchaser
is not relying on the Company or any of its employees or agents with respect to the legal, tax, economic and related considerations
of the acquisition of the Shares, and the Purchaser has relied on the advice of, or has consulted with, only his own advisors.

 

2.5Purchaser
is acquiring the Shares solely for the Purchaser’s own account for investment and not with a view to resale or distribution
thereof, in whole or in part.

 

2.6Purchaser
must bear the substantial economic risks of the investment in the Shares indefinitely, because none of the Shares may be sold,
assigned, transferred, hypothecated or otherwise encumbered or disposed of unless subsequently registered under the Securities
Act and applicable state securities laws or any exemption from such registration is available. Legends shall be placed on the Shares
to the effect that they have not been registered under the Securities Act or applicable state securities laws. In addition, appropriate
notations thereof will be made in the Company’s books, and stop transfer instructions will be placed with the transfer agent
of the Shares.

 

2.7Purchaser
has adequate means of providing for such Purchaser’s current financial needs and foreseeable contingencies and has no need
for liquidity of the investment in the Shares for an indefinite period of time.

 

2.8PURCHASER
UNDERSTANDS THAT AN INVESTMENT IN THE SHARES INVOLVES A HIGH DEGREE OF RISK.

 

2.9Purchaser
is an “accredited investor” under Regulation D under the Securities Act.

 

3.Confidentiality
and Insider Trading. Purchaser acknowledges and agrees that any information or data Purchaser has acquired from or about the
Company, not otherwise properly in the public domain, was received in confidence. Purchaser agrees not to divulge, communicate
or disclose, except as may be required by law or for the performance of this Agreement, or use to the detriment of the Company
or for the benefit of any other person or persons, or misuse in any way, any confidential information of the Company, including
any trade or business secrets of the Company and any scientific, technical, trade or business materials that are treated by the
Company as confidential or proprietary.

 

4.Miscellaneous

 

4.1This
Agreement constitutes the entire agreement between Purchaser and the Company with respect to the subject matter hereof and supersedes
all prior oral or written agreements and understandings, if any, relating to the subject matter hereof. The terms and provisions
of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document executed by the party
entitled to the benefits of such terms or provisions.

 

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4.2Purchaser’s
representations and warranties made in this Agreement shall survive the execution and delivery hereof and delivery of the Shares.

 

4.3This
Agreement may be executed in one or more counterparts each of which shall be deemed an original, but all of which shall together
constitute one and the same instrument.

 

4.4Each
provision of this Agreement shall be considered separable and if for any reason any provision or provisions hereof are determined
to be invalid or contrary to applicable law such invalidity or illegality shall not impair the operation of or affect the remaining
portions of this Agreement.

 

4.5This
Agreement shall be governed by and construed in accordance with the laws of the State of California relating to contracts entered
into and to be performed wholly within such State.

 

4.6Paragraph
titles are for descriptive purposes only and shall not control or alter the meaning of this Agreement as set forth in the text.

 

	 	 
	 	 
	 	STRATUS MEDIA GROUP, INC.
	 	 
	 	 
	 	By:                                                        
	 	Name:Jerrold Rubinstein
	 	Its:Chief Executive Officer
	 	 
	 	 
	 	PURCHASER:
	 	 
	 	 
	 	                                                               
	 	 

 

 

    	3EXHIBIT 10.02

 

SERIES E PREFERRED STOCK CONVERSION AND

WARRANT EXERCISE AGREEMENT

 

This Series E Preferred Stock Conversion
and Warrant Exercise Agreement (this “Agreement”) is made and entered into as of April __, 2013, by and between
Stratus Media Group, Inc., a Nevada corporation (the “Company”) and ____________ (“Investor”)
with reference to the following facts:

 

A.Investor has purchased an aggregate
of _____ shares of the Company’s Series E Preferred Stock (the “Preferred Shares”).

 

B.The Certificates of Designation with
respect to the Preferred Shares grants Investor certain rights, preferences and privileges, including (i) the right at any
time to voluntarily convert the Preferred Shares into shares of the Company’s common stock, and (ii) anti-dilution protection,
pursuant to which the conversion price of the Preferred Shares will decrease on a full-ratchet basis in the event that the Company
issues additional equity securities (or warrants or securities convertible into common stock) at a price less than the conversion
price of the Preferred Shares.

 

C.In connection with the purchase of
the Preferred Shares, the Company issued to Investor warrants (the “Warrants”) to initially purchase an aggregate
of _______ shares at an initial exercise price of $___ per share.

 

D.The Warrants also contain anti-dilution
protection pursuant to which the exercise price will decrease on the same basis as the conversion price for the Preferred Shares.

 

E.The Company is in the process of attempting
a recapitalization (the “Recapitalization”) pursuant to which the Company desires to (i) raise capital to restart
certain of its operations; (ii) restructure certain of its equity; and (iii) extinguish a significant portion of its debt, although
no assurance can be given that the Recapitalization will be successful in whole or in part.

 

F.As a result of the issuance of additional
securities subsequent to the issuance of the Warrants and the Preferred Shares, the conversion price of the Preferred Shares and
the exercise price of the Warrants have been reduced to $0.03 per share.

 

NOW, THEREFORE, the parties hereto agree
as follows:

 

1.Conversion.
Notwithstanding Recital F, above, and to assist the Company with the Recapitalization, Investor hereby agrees to convert each Preferred
Share into shares of the Company’s Common Stock (the “Conversion Shares”) at a conversion price of $0.06
per Share resulting in the issuance of _________ Conversion Shares, and to exercise the Warrants on the basis of one share of Company
Common Stock for every 2.5 shares otherwise issuable upon exercise of the Warrants (the “Warrant Shares”) resulting
in the issuance of ___________ Warrant Shares. Concurrently with the execution of this Agreement, in order to effect the foregoing
conversion and exercise, Investor is hereby delivering to the Company the stock certificates for the Preferred Shares and the Warrants,
together with a stock assignment form duly endorsed for transfer.

 

2.Representations
and Warranties of Investor. Investor represents and warrants to the Company as follows:

 

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2.1Investor understands that: (a) the
Conversion Shares and the Warrant Shares (collectively, the “Shares”) are not registered under the Securities
Act of 1933, as amended (the “Securities Act”), or any state securities laws; (b) the issuance and sale of the
Shares is intended to be exempt from registration under the Securities Act, by virtue of Section 4(2) thereof and the provisions
of Regulation D promulgated thereunder, based, in part, upon the representations, warranties and agreements of the Investor contained
in this Agreement.

 

2.2Investor has had a reasonable opportunity
to ask questions of and receive answers from a person or persons acting on behalf of the Company concerning the offering of the
Shares and the business, financial condition, results of operations and prospects of the Company and all such questions have been
answered to the full satisfaction of the Investor.

 

2.3Investor has such knowledge and experience
in financial, tax, and business matters, and, in particular, investments in securities, so as to enable Investor to utilize the
information made available to Investor in connection with the offering of the Shares to evaluate the merits and risks of an investment
in the Shares and to make an informed investment decision with respect thereto.

 

2.4Investor is not relying on the Company
or any of its employees or agents with respect to the legal, tax, economic and related considerations of the acquisition of the
Shares, and the Investor has relied on the advice of, or has consulted with, only his own advisors.

 

2.5Investor is acquiring the Shares solely
for the Investor's own account for investment and not with a view to resale or distribution thereof, in whole or in part.

 

2.6Investor must bear the substantial
economic risks of the investment in the Shares indefinitely, because none of the Shares may be sold, assigned, transferred, hypothecated
or otherwise encumbered or disposed of unless subsequently registered under the Securities Act and applicable state securities
laws or any exemption from such registration is available. Legends shall be placed on the Shares to the effect that they have not
been registered under the Securities Act or applicable state securities laws. In addition, appropriate notations thereof will be
made in the Company's books, and stop transfer instructions will be placed with the transfer agent of the Shares.

 

2.7Investor has adequate means of providing
for such Investor's current financial needs and foreseeable contingencies and has no need for liquidity of the investment in the
Shares for an indefinite period of time.

 

2.8THE PURCHASER UNDERSTANDS THAT AN INVESTMENT
IN THE SHARES INVOLVES A HIGH DEGREE OF RISK.

 

2.9Investor is an “accredited investor”
under Regulation D under the Securities Act.

 

3.Brokers or Finders.
No agent, broker, investment banker, person or firm will be entitled to any fee or commission directly or indirectly from the Company
in connection with the conversion and exercise contemplated hereby.

 

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4.Performance by
the Company. The Company shall cancel the stock certificates for the Preferred Shares and the Warrants and issue a new certificate
representing the Conversion Shares and the Warrant Shares in the name of Investor.

 

5.Release by Investor.
In consideration of the mutual promises and covenants set forth herein, Investor hereby releases and absolutely discharges the
Company and each of its past and present officers, directors, shareholders, employees, predecessors, successors in interest, attorneys,
agents, assigns, parent companies, affiliates, accountants, investors, representatives, and each of them (the “Company
Parties”), from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, accounts, accountings,
costs, and expenses (including, but not limited to, attorneys’ fees and costs), damages, liens, judgments, actions and causes
of action, of every kind and nature whatsoever, at law or in equity, known or unknown, suspected or unsuspected which Investor
ever had, or now has against the Company Parties, in connection with or arising from the Preferred Shares, the purchase by Investor
of the Preferred Shares, or otherwise, including any obligation by the Company to register the stock underlying the Preferred Shares
or the Warrants or the conversion of the Preferred Shares or exercise of the Warrants at a conversion price or exercise price above
the current conversion price or exercise price, as the case may be.

 

6.Confidentiality
and Insider Trading.

 

6.1Investor acknowledges and agrees that
any information or data Investor has acquired from or about the Company, not otherwise properly in the public domain, was received
in confidence. Investor agrees not to divulge, communicate or disclose, except as may be required by law or for the performance
of this Agreement, or use to the detriment of the Company or for the benefit of any other person or persons, or misuse in any way,
any confidential information of the Company, including any trade or business secrets of the Company and any scientific, technical,
trade or business materials that are treated by the Company as confidential or proprietary.

 

7.General.

 

7.1Binding Nature of Agreement; No
Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns.

 

7.2Entire Agreement. This Agreement
contains the entire understanding between the parties hereto with respect to the subject matter hereof, and supersedes all prior
and contemporaneous agreements and understandings, inducements or conditions, express or implied, oral or written, except as herein
contained.

 

7.3Counterparts and Facsimile Signatures.
Each of the parties hereto agrees that this Agreement may be executed in any number of counterparts. Each counterpart shall be
deemed to be an original and when taken together with the other signed counterparts, shall constitute one instrument, which shall
be binding and effective as to the parties to the Agreement. This Agreement may be brought into effect by facsimile signature,
which shall be treated as an original.

 

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7.4Controlling Law. This Agreement
and all questions relation to its validity, interpretation, performance and enforcement, shall be governed by and construed in
accordance with the internal laws of the State of California.

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date and year first above written.

 

	 	 
	 	STRATUS MEDIA GROUP, INC.
	 	 
	 	 
	 	By:                                                         
	 	Name:Jerrold Rubinstein
	 	Title:Chief Executive Officer
	 	 
	 	 
	 	INVESTOR:
	 	 
	 	 
	 	By:                                                          
	 	Name:                                                 
	 	 

 

 

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