Document:

COVENANT
      NOT TO COMPETE

    

    This
      Covenant Not to Compete (the “Covenant”) is entered into and effective as of
      July 15, 2008 by and between _________________________________ (“Seller”) and
      Platinum Studios, Inc., a California corporation (“Purchaser”).

    

    WHEREAS,
      Purchaser, Seller and others have entered into an Acquisition Agreement dated
      as
      of July 15, 2008 (the “Acquisition Agreement”) pursuant to which Purchaser is
      purchasing all of the outstanding membership interests in WOWIO, LLC, a
      Pennsylvania limited liability company (the “Company”), including the membership
      interests in the Company owned by Seller (“Seller’s Membership Interests”).
      Capitalized terms not otherwise defined herein shall have the same meanings
      set
      forth for such terms in the Acquisition Agreement;

    

    WHEREAS,
      Seller is receiving significant consideration in exchange for the sale of
      Seller’s Membership Interests to Purchaser pursuant to the terms of the
      Acquisition Agreement;

    

    WHEREAS,
      to preserve the value of the business of the Company being acquired by Purchaser
      under the Acquisition Agreement, it is a condition to the consummation of the
      sale of Seller’s Membership Interests thereunder that Seller shall enter into
      this Covenant;

    

    NOW,
      THEREFORE, in consideration of the mutual promises made herein, Seller hereby
      agrees as follows:

    

    1.    Covenant
      Not to Compete or Solicit.

    

    (a)
      Non-Competition.
      For a
      period of three years measured from the Closing Date (the “Non-Competition
      Period”), Seller shall not, without the prior written consent of Purchaser,
      engage in a Competitive Business Activity (as defined below) anywhere in the
      Restricted Territory (as defined below). 

    

    (i) For
      all
      purposes hereof, the term “Competitive Business Activity” shall mean: (A)
      engaging in, or managing or directing persons engaged in any business in
      competition with the business of the Company being acquired by Purchaser
      pursuant to the Acquisition Agreement (the “Acquired Business”); (B) acquiring
      or having an ownership interest in any entity that derives revenues from any
      business substantially similar to the Acquired Business (except for passive
      ownership of one percent (1%) or less of any entity whose securities are
      publicly traded on a national securities exchange or market or five percent
      (5%)
      or less of any entity whose securities are not publicly traded on a national
      securities exchange or market); or (C) participating in the operation,
      management or control of any firm, partnership, corporation, entity or business
      (each, an “Entity”) described in subsection (B) above. 

    

    (ii) For
      all
      purposes hereof, the term “Restricted Territory” shall mean each and every
      country, province, state, city or other political subdivision in which the
      Company is engaged in the Acquired Business.

    

    (iii) Notwithstanding
      the provisions of subsection (i) above, the term “Competitive Business Activity”
does not include (A) writing, editing, contributing to, compiling, publishing,
      or promoting a book, magazine, or other literary work, electronically or
      otherwise as long as such activities are not being performed by Seller as an
      employee of, or independent contractor or consultant for, a business
      substantially similar to the Acquired Business; or (B) giving lectures, giving
      addresses, speaking at conferences, or engaging in any other type of public
      speaking 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (b) Non-Solicitation.
      During
      the Non-Competition Period, Seller shall not solicit, encourage or take any
      other action which is intended to induce or encourage, or could reasonably
      be
      expected to have the effect of inducing or encouraging, any employee or
      independent contractor of the Company or Purchaser or any of its subsidiaries
      to
      terminate his or her employment or engagement with the Company or Purchaser;
      provided, however, that any general solicitation of employees or independent
      contractors not specifically targeted to Purchaser’s shall not be deemed a
      violation of this Section 1(b).

    

    (c) The
      covenants contained in Section 1(a) hereof shall be construed as a series of
      separate covenants, one for each country, province, state, city or other
      political subdivision of the Restricted Territory. Except for geographic
      coverage, each such separate covenant shall be deemed identical in terms to
      the
      covenant contained in Section 1(a) hereof. If, in any judicial proceeding,
      a
      court refuses to enforce any of such separate covenants (or any part thereof),
      then such unenforceable covenant (or such part) shall be eliminated from this
      Agreement to the extent necessary to permit the remaining separate covenants
      (or
      portions thereof) to be enforced. In the event that the provisions of this
      Section 1 are deemed to exceed the time, geographic or scope limitations
      permitted by applicable law, then such provisions shall be reformed to the
      maximum time, geographic or scope limitations, as the case may be, permitted
      by
      applicable laws.

    

    (d)
       Seller
      acknowledges that (i) the goodwill associated with the Company Assets is an
      integral component of the value of the Company to Purchaser and is reflected
      in
      the consideration received by Seller under the Acquisition Agreement; and (ii)
      the Covenant as set forth herein is necessary to preserve the value of the
      Company for Purchaser following the Closing Date. Seller also acknowledges
      that
      the limitations of time, geography and scope of activity agreed to in this
      Agreement are reasonable because, among other things, (1) The Company is engaged
      in business in a highly competitive industry, and (2) this Covenant provides
      no
      more protection than is necessary to protect Purchaser’s interests in the
      goodwill associated with the Company.

    

    2.    Specific
      Performance; Injunctive Relief.
      The
      parties acknowledge that Purchaser will be irreparably harmed and that there
      will be no adequate remedy at law for a violation of any of the covenants or
      agreements of Seller. Therefore, it is agreed that, in addition to any other
      remedies that may be available to Purchaser upon any such violation, Purchaser
      shall have the right to seek enforcement of such covenants and agreements by
      specific performance, injunctive relief or by any other means available to
      Purchaser at law or in equity.

    3.    Miscellaneous
      Provisions.

     

    (a) Amendment
      and Waiver.
      This
      Agreement may be amended, modified and supplemented only by written agreement
      of
      each of the parties hereto. By an instrument in writing, either Party may waive
      compliance by the other party with any term or provision of this Agreement
      that
      such other party was or is obligated to comply with or perform.

    

    (b) Notices.
      All
      notices, requests, demands and other communications which are required or may
      be
      given under this Agreement shall be in writing and shall be deemed to have
      been
      duly given when received if personally delivered; the day after it is sent,
      if
      sent for next day delivery to a domestic address by recognized overnight
      delivery service (e.g.,
      Federal Express); upon receipt, if sent by certified or registered mail, return
      receipt requested; and upon confirmed transmission if sent by telecopier. In
      each case notice shall be sent to:

     

    If
      to
      Seller:

    

    ______________________

    ______________________

    ______________________

     

    

    If
      to
      Purchaser: 

    Platinum
      Studios, Inc.

    11400
      West Olympic Blvd.

    14th
      Floor

    Los
      Angeles, CA 90064

    Facsimile:
      (310) 887-3943

    

    or
      to
      such other person or address as any Party hereto shall furnish to the other
      Party hereto in writing pursuant to this Section
      3.
      

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (c) Assignment.
      This
      Agreement shall be binding upon and inure to the benefit of the Parties hereto
      and their respective successors and permitted assigns. This Agreement may not
      be
      assigned by either Party hereto without the prior written consent of the other
      parties;
      provided
      however,
      that
      Purchaser may assign its rights and obligations under this Agreement to any
      Person who acquires all or substantially all of the assets, stock or business
      of
      Purchaser or the Company (whether by sale, merger or otherwise) without the
      consent of Seller. 

     

    (d) Governing
      Law.
      This
      Agreement shall be governed by the law of the State of California, regardless
      of
      the laws that might otherwise govern applicable conflicts of laws.

     

    (e) Attorney
      Fees.
      If any
      party to this Agreement brings an action to enforce its rights under this
      Agreement, the prevailing party shall be entitled to recover its costs and
      expenses, including without limitation, reasonable attorneys’ fees, incurred in
      connection with such action, including any appeal of such action.

     

    (f) Invalidity.
      In the
      event that any one or more of the provisions contained in this Agreement or
      in
      any other instrument referred to herein, shall, for any reason, be held to
      be
      invalid, illegal or unenforceable in any respect, then to the maximum extent
      permitted by law, such invalidity, illegality or unenforceability shall not
      affect any other provision of this Agreement or any other such
      instrument.

     

    (g) Counterparts;
      Facsimile.
      This
      Agreement may be signed and delivered either originally or by facsimile, and
      in
      one or more counterparts, each of which shall be deemed an original, but all
      of
      which together shall constitute one and the same instrument.

     

    (h) Headings.
      The
      section headings contained in this Agreement are for reference purposes only
      and
      shall not affect in any way the meaning or interpretation of this
      Agreement.

     

    (i) Interpretation.
      When a
      reference is made in this Agreement to a Section, Exhibit or Schedule, such
      reference shall be to a Section, Exhibit or Schedule of this Agreement unless
      otherwise indicated. The headings contained in this Agreement are for reference
      purposes only and shall not affect in any way the meaning or interpretation
      of
      this Agreement. Whenever the words “included,”
      “includes”
or
      “including”
are
      used in this Agreement, they shall be deemed to be followed by the phrase
“without
      limitation.”

     

    (j) Entire
      Agreement
      This
      Agreement embodies the entire agreement and understanding of the parties hereto
      in respect of the subject matter contained herein. This Agreement supersedes
      all
      prior agreements and understandings between the parties hereto with respect
      to
      such subject matter.

     

    4.    Cross-Default.
      This
      Agreement shall be of no further force and effect, and the competition and
      solicitation restrictions described herein shall not apply, in the event of
      a
      material breach of the Acquisition Agreement by Company, including but not
      limited to a failure by Company to direct the transfer agent to issue any
      Purchase Price Shares or Earn Out Shares to the Shareholders (the “Transfer
      Agent Instructions”), within the specific timelines set forth in the Acquisition
      Agreement, even in the absence of bad faith; provided that the Seller must
      give
      notification of such breach to the Company in writing and the Company shall
      have
      20 days following such notice to cure such breach unless such breach involves
      the Transfer Agent Instructions and then such cure period shall be only five
      business days.

    

     

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    IN
      WITNESS WHEREOF, the parties, acting through their duly authorized
      representative, to the extent applicable, have executed this COVENANT NOT TO
      COMPETE as of the date first written above.

     

    
      	“Purchaser”	“Seller”
	 	 
	Platinum Studios, Inc.	__________________________ 

    

     

    By: 
      _____________________________ 

    Brian
      Altounian, President 

    

    

    [SIGNATURE
      PAGE TO COVENANT NOT TO COMPETE]LOCK-UP/LEAK-OUT
      AGREEMENT

    

    THIS
      LOCK-UP/LEAK-OUT AGREEMENT (the “Agreement”) is made and entered into as of July
      15, 2008, between those individuals set forth on Schedule A attached hereto
      (each, a “Shareholder;” collectively, the “Shareholders”) and Platinum Studios,
      Inc., a California corporation (the “Company”).

    

    RECITALS

    

    WHEREAS,
      the Shareholders collectively own all of the issued and outstanding membership
      interest in WOWIO, LLC, a Pennsylvania limited liability company (the
“Membership Interests”);

    

    WHEREAS,
      simultaneously herewith, the Company has entered into an Acquisition Agreement
      with the Shareholders pursuant to which the Company is acquiring all of the
      Membership Interests (the “Acquisition Agreement”);

    

    WHEREAS,
      all capitalized terms not defined herein shall have the meanings ascribed to
      them in the Acquisition Agreement; 

    

    WHEREAS,
      in consideration for the sale and transfer of the Membership Interests, the
      Shareholders have agreed to accept shares of common stock of the Company in
      the
      form of Purchase Price Shares and Earn Out Shares (collectively, the
“Acquisition Stock”), some of which shall be issued as of the Closing Date and
      some of which shall be issued after the Closing Date, all in accordance with
      the
      terms of the Acquisition Agreement; 

    

    WHEREAS,
      as a material inducement for the Company to issue the Acquisition Stock as
      consideration for the sale of the Membership Interests, and as a condition
      precedent to the closing of the purchase and sale of the Membership Interests
      under the Acquisition Agreement, the Company and the Shareholders have agreed
      to
      enter into this Agreement and to restrict the sale, assignment, transfer,
      conveyance, hypothecation or alienation of the Acquisition Stock, all on the
      terms set forth below.

    

    NOW,
      THEREFORE, in consideration of the foregoing premises and the mutual covenants
      contained herein, the receipt and sufficiency of which are hereby acknowledged,
      the parties hereto agree as follows:

    

    1.    Notwithstanding
      anything contained in this Agreement, each of the Shareholders may transfer
      such
      Shareholder’s shares of Acquisition Stock to such Shareholder’s affiliates,
      partners in a partnership, subsidiaries and trusts, or spouses and lineal
      descendants (individually, a “Transferee”) for estate planning purposes, at such
      value as determined by such Shareholder to be appropriate, provided that the
      Transferee (or the legal representative of the Transferee) executes an agreement
      to be bound by all of the terms and conditions of this Agreement in connection
      with the resale of any shares of the Acquisition Stock. Transfers pursuant
      to
      this Section 1 shall not be subject to the requirements of Section 2. Upon
      completion of a transfer under this Section 1, the Transferee shall be a
“Shareholder” under this Agreement for all purposes. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    2.    Except
      as
      otherwise expressly provided herein, and except as the Shareholders may be
      otherwise restricted from selling shares of the Acquisition Stock under
      applicable United States or state securities laws, rules and regulations, the
      Shareholders may only sell shares of the Acquisition Stock subject to the
      following conditions for the twelve (12) month period following the lapsing
      of
      the Rule 144 holding period applicable to the Acquisition Stock (the
“Lock-Up/Leak-Out Period”), it being acknowledged that because the Acquisition
      Stock is issuable over a period of time at and following the Closing Date,
      each
      issuance of Acquisition Stock shall have a separate, applicable Lock-Up/Leak
      Out
      Period :

    

    2.1    Each
      Shareholder shall be allowed to sell 1/12th
      of such
      Shareholder’s shares of Acquisition Stock per month for the twelve (12) months
      of the applicable Lock-Up/Leak-Out Period. 

    

    2.2    All
      shares of a Shareholder’s Acquisition Stock shall be sold on a non-cumulative
      basis, meaning that if no shares of Acquisition Stock was sold by such
      Shareholder during a month while Acquisition Stock was qualified to be sold
      by
      such Shareholder, those unsold shares could not be sold in the next successive
      month; and likewise, if part of the Acquisition Stock that could be sold during
      any monthly period was sold, such Shareholder may not cumulate the unsold
      portion of that month’s allotment to the next month, and so forth. Each
      Shareholder agrees that all sales will be made at no less than the best “asked”
prices, and no sales will be made at the “bid” prices for the Acquisition Stock.

    

    2.3    Except
      as
      otherwise provided herein, all Acquisition Stock shall be sold in “broker’s
      transactions” and each Shareholder will comply with the “manner of sale”
requirements as those terms are defined in Rule 144 of the Securities and
      Exchange Commission during the applicable Lock-Up/Leak-Out Period.

    

    2.4    An
      appropriate legend describing this Agreement shall be imprinted on each stock
      certificate representing the Acquisition Stock covered hereby, and the transfer
      records of the Company’s transfer agent shall reflect such appropriate
      restrictions.

    

    2.5    Each
      Shareholder agrees that such Shareholder will not engage in any short selling
      of
      the Acquisition Stock during the applicable Lock-Up/Leak-Out
      Period.

     

    3.    Notwithstanding
      anything to the contrary set forth herein, the Company may, in its sole
      discretion, at any time and from time to time, waive any of the conditions
      or
      restrictions contained herein to increase the liquidity of the Acquisition
      Stock
      or if such waiver would otherwise be in the best interests of the development
      of
      the trading market for the Acquisition Stock. Such waiver shall be applicable
      equally to all of the Shareholders, and upon issuance of such waiver all
      Shareholders shall be promptly notified of the waiver given and the time frame
      during which such waiver shall be effective.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    4.    In
      the
      event of: (a) a completed tender offer to purchase all or substantially all
      of
      the Company’s issued and outstanding securities; or (b) a merger, consolidation
      or other reorganization of the Company with or into an unaffiliated entity
      that
      results in a subsequent change in control of the Company, then this Agreement
      shall terminate as of the closing of such event and the Acquisition Stock
      restricted pursuant hereto shall be released from such
      restrictions.

    

    5.    Except
      as
      otherwise provided in this Agreement or any other agreements between the
      parties, each Shareholder shall be entitled such Shareholder’s respective
      beneficial rights of ownership of such Shareholder’s shares of Acquisition
      Stock, including the right to vote such Shareholder’s shares of Acquisition
      Stock for any and all purposes.

    

    6.    The
      number of shares of Acquisition Stock included in any monthly allotment that
      can
      be sold by a Shareholder and the per share price restrictions covered by this
      Agreement shall be appropriately adjusted should the Company declare a dividend
      or distribution, undergo a forward split or a reverse split or otherwise
      reclassify its shares of common stock.

    

    7.    This
      Agreement may be executed in any number of counterparts with the same force
      and
      effect as if all parties had executed the same document.

    

    8.    All
      notices, instructions or other communications required or permitted to be given
      pursuant to this Agreement shall be given in writing and delivered by certified
      mail, return receipt requested, overnight delivery or hand-delivered to all
      parties to this Agreement, 

    

    
      	
            	to
              the Company:	
              Platinum
                Studios, Inc.

            

    

    11400
      W.
      Olympic Blvd.

    14th
      Floor

    Los
      Angeles, CA 90064

    Fax:
      (310) 887-3943

    

    
      	
            	to
              Shareholders:	
              at
                addresses set forth for each Shareholder on Schedule
                A

            

    

    

    All
      notices shall be deemed to be given on the same day if delivered by hand or
      on
      the following business day if sent by overnight delivery or the second business
      day following the date of mailing. 

    

    9.    The
      resale restrictions on the Acquisition Stock set forth in this Agreement shall
      be in addition to all other restrictions on transfer imposed by applicable
      United States and state securities laws, rules and regulations.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    10.    If
      a
      Shareholder fails to fully adhere to the terms and conditions of this Agreement,
      then such Shareholder shall be liable to the Company for any damages suffered
      by
      reason of any such breach of the terms and conditions hereof. Each Shareholder
      agrees that in the event of a breach of any of the terms and conditions of
      this
      Agreement by such Shareholder, that in addition to all other remedies that
      may
      be available in law or in equity to the Company, a preliminary and permanent
      injunction, without bond or surety, and an order of a court requiring such
      Shareholder to cease and desist from violating the terms and conditions of
      this
      Agreement and specifically requiring such Shareholder to perform such
      Shareholder’s obligations hereunder is fair and reasonable by reason of the
      inability of the parties to this Agreement to presently determine the type,
      extent or amount of damages that the Company may suffer as a result of any
      breach or continuation thereof by such Shareholder. 

    

    11.    This
      Agreement sets forth the entire understanding of the parties hereto with respect
      to the subject matter hereof, and may not be amended except by a written
      instrument executed by the parties hereto.

    

    12.    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of California applicable to contracts entered into and to be performed
      wholly within said State; and the Company and each Shareholder agrees that
      any
      action based upon this Agreement may be brought in the United States and state
      courts of Los Angeles, County, California only, and each Shareholder submits
      to
      the jurisdiction of such courts for all purposes hereunder.

    

    13.    In
      the
      event of default hereunder, the non-defaulting parties shall be entitled to
      recover reasonable attorney’s fees incurred in the enforcement of this
      Agreement.

    

    14.    This
      Agreement shall be of no further force and effect, and the transfer restrictions
      described herein shall not apply, in the event of a material breach of the
      Acquisition Agreement by Company, including but not limited to a failure by
      Company to direct the transfer agent to issue any Purchase Price Shares or
      Earn
      Out Shares to the Shareholders (the “Transfer Agent Instructions”), within the
      specific timelines set forth in the Acquisition Agreement, even in the absence
      of bad faith; provided that the Shareholders must give notification of such
      breach to the Company in writing and the Company shall have 20 days following
      such notice to cure such breach unless such breach involves the Transfer Agent
      Instructions and then such cure period shall be only five business days.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement
      as of the day and year first above written.

    

    “Company”

    

    PLATINUM
      STUDIOS, INC.

    

    

    By: 
      ________________________________

    Brian
      Altounian, President

    

     

    “Shareholders”

    

    

    _____________________________________________

    William
      Lidwell

    

    

    _____________________________________________

    Gary
      Hamel

    

    

    _____________________________________________

    David
      Learned

    

    

    EXTREME
      HOLDINGS, INC.

    

    

    By: 
      __________________________________________

    Regis
      Maher, Co-President

    

    

    ALMARMAL,
      LLC

    

    

    By: 
      __________________________________________

    Steve
      Coleman, President

    

    

    ________________________________________________

    Kristine
      Wasilewski

    

    [SIGNATURE
      PAGE TO LOCK-UP/LEAK-OUT AGREEMENT]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    ______________________________________________

    Richard
      Ellard

    

    

    ______________________________________________

    David
      Palumbo

    

    

    ______________________________________________

    Robert
      Kingslyn

    

    

    ______________________________________________

    Gary
      Gilbert

    

    

    ______________________________________________

    Gary
      Gilbert II

    

    

    ______________________________________________

    Robert
      W.
      Gilbert

    

    

    ______________________________________________

    James
      H.
      Barker III

    

    

    [SIGNATURE
      PAGE TO LOCK-UP//LEAK OUT AGREEMENT]

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